Caledonia (Private) Investments Pty Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Caledonia (Private) Investments Pty Ltd reported 16 stock positions worth $6.2 billion. Its top holding was Zillow Class C (Z) at 33.3% of the portfolio, followed by Flutter Entertainment PLC-Di (FLUT, 28.6%) and Zillow Class A (ZG, 14.0%). Compared with Q2 2025, it opened 1 new position, added to 4 and reduced 8. The biggest buy was Light & Wonder (LNWO, shares +171%) and the biggest sale Flutter Entertainment PLC-Di (FLUT, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- Sydney Nsw, C3
- CIK
- 0001352924
- Portfolio Value
- $6.2B (Q3 2025)
- SEC Filing
- 0001172661-25-005058 ↗ filed Nov 14, 2025
Holdings Value
Holdings 16 stocks · $6.2B
| Z Zillow Group Inc. Class C | 33.27% | 26,566,269 | $2.0B | Reduce -8.4% |
| FLUT Flutter Entertainment PLC-Di | 28.59% | 6,927,005 | $1.8B | Reduce -8.9% |
| ZG Zillow Group Inc. Class A | 14.04% | 11,603,278 | $863.7M | Reduce -6.0% |
| CCJ Cameco Corp. | 7.53% | 5,521,756 | $463.1M | Reduce -1.4% |
| RPRX Royalty Pharma PLC Class A | 4.33% | 7,547,609 | $266.3M | Add +17.1% |
| FWONK Liberty Media Corp. Class C | 2.81% | 1,654,766 | $172.8M | Reduce -1.5% |
| LNWO Light & Wonder Inc. | 2.61% | 1,915,804 | $160.8M | Add +171.1% |
| COUR Coursera Inc. | 1.77% | 9,313,631 | $109.1M | Add +26.2% |
| UDMY Udemy Inc. | 1.59% | 13,958,917 | $97.9M | Add +25.1% |
| COOP Mr Cooper Group Inc. | 1.55% | 452,188 | $95.3M | Reduce -23.6% |
| APPF Appfolio Inc. Class A | 1.02% | 228,026 | $62.9M | Reduce -4.5% |
| TRUE Truecar Inc. | 0.53% | 17,758,146 | $32.7M | No change |
| CME Cme Group Inc. | 0.29% | 66,160 | $17.9M | No change |
| AMWL American Well Corp. Class A | 0.06% | 640,000 | $3.9M | Reduce -20.9% |
| WFC Wells Fargo & Co. | 0.00% | 3,198 | $268K | No change |
| BWXT BWX Technologies Inc. | 0.00% | 1,371 | $253K | New |
Portfolio Sells Q2 2025 → Q3 2025
| FLUT Flutter Entertainment PLC-Di | Reduce -8.9% | 28.59% | −5.97 |
| AMWL American Well Corp. Class A | Reduce -20.9% | 0.06% | −0.05 |
| FWONK Liberty Media Corp. Class C | Reduce -1.5% | 2.81% | +0.02 |
| COOP Mr Cooper Group Inc. | Reduce -23.6% | 1.55% | +0.14 |
| APPF Appfolio Inc. Class A | Reduce -4.5% | 1.02% | +0.15 |
| ZG Zillow Group Inc. Class A | Reduce -6.0% | 14.04% | +0.59 |
| CCJ Cameco Corp. | Reduce -1.4% | 7.53% | +0.92 |
| Z Zillow Group Inc. Class C | Reduce -8.4% | 33.27% | +0.95 |
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 17 | $2.9B | FLUT, Z, ZG, RPRX, CCJ |
| Q1 2026 | 16 | $3.4B | Z, FLUT, ZG, CCJ, RPRX |
| Q4 2025 | 16 | $5.2B | Z, FLUT, ZG, CCJ, RPRX |
| Q3 2025 | 16 | $6.2B | Z, FLUT, ZG, CCJ, RPRX |
| Q2 2025 | 15 | $6.3B | FLUT, Z, ZG, CCJ, RPRX |
| Q1 2025 | 16 | $6.1B | Z, FLUT, ZG, LNWO, CCJ |
| Q4 2024 | 13 | $7.5B | FLUT, Z, ZG, FWONK, LNWO |
| Q3 2024 | 11 | $6.9B | FLUT, Z, ZG, FWONK, LNWO |
| Q2 2024 | 11 | $5.5B | FLUT, Z, ZG, FWONK, LNWO |
| Q1 2024 | 11 | $3.9B | Z, ZG, FWONK, LNWO, WMG |