Perpetual Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 10, 2025), Perpetual Ltd reported 400 stock positions worth $8.1 billion. Its top holding was Sempra (SRE) at 3.6% of the portfolio, followed by Microsoft (MSFT, 3.2%) and CDW (CDW, 3.1%). Compared with Q2 2025, it opened 41 new positions, sold out of 57, added to 132 and reduced 203. The biggest buy was Sempra (SRE, shares +59%) and the biggest sale an exit from CMS Energy (CMS).
- Most Recent 13F
- Q2 2026
- Location
- SYDNEY, NEW SOUTH WALES, C3
- CIK
- 0001647273
- Portfolio Value
- $8.1B (Q3 2025)
- SEC Filing
- 0001104659-25-098515 ↗ filed Oct 10, 2025
Holdings Value
Holdings 400 stocks · $8.1B
| SRE Sempra | 3.61% | 3,235,107 | $291.1M | Add +59.0% |
| MSFT Microsoft Corp. | 3.24% | 503,612 | $260.8M | Add +8.4% |
| CDW CDW Corp. | 3.15% | 1,593,035 | $253.7M | Add +42.2% |
| ATO Atmos Energy Corp. | 3.14% | 1,483,365 | $253.3M | Add +5.1% |
| FLUT Flutter Entertainment PLC-Di | 2.93% | 929,876 | $236.2M | Reduce -17.0% |
| PM Philip Morris International | 2.85% | 1,414,068 | $229.4M | Add +31.4% |
| ICE Intercontinental Exchange Inc. | 2.67% | 1,277,873 | $215.3M | Reduce -9.3% |
| SE Sea Ltd.-ADR | 2.62% | 1,182,528 | $211.4M | Reduce -24.5% |
| MELI MercadoLibre Inc. | 2.53% | 87,186 | $203.7M | Reduce -15.3% |
| TMO Thermo Fisher Scientific Inc. | 2.52% | 419,130 | $203.3M | Add +4.8% |
| CRH CRH PLC | 2.47% | 1,659,728 | $199.0M | Reduce -5.2% |
| AER Aercap Holdings NV | 1.95% | 1,295,143 | $156.7M | Reduce -3.6% |
| GXO Gxo Logistics Inc. | 1.78% | 2,711,627 | $143.4M | Reduce -10.6% |
| CSX CSX Corp. | 1.77% | 4,011,631 | $142.5M | Add +10.9% |
| SPOT Spotify Technology SA | 1.76% | 202,681 | $141.5M | Reduce -17.1% |
| EMR Emerson Electric Co. | 1.71% | 1,047,887 | $137.5M | Reduce -24.3% |
| TIGO Millicom Intl Cellular S.A. | 1.65% | 2,731,971 | $132.6M | Add +5283.2% |
| FERG Ferguson Enterprises Inc. | 1.64% | 589,953 | $132.5M | Add +52.5% |
| ORCL Oracle Corp. | 1.64% | 469,182 | $132.0M | Reduce -56.5% |
| GTLS Chart Industries Inc. | 1.58% | 637,202 | $127.5M | Reduce -2.4% |
| UNP Union Pacific Corp. | 1.50% | 512,221 | $121.1M | Add +6285.2% |
| FCX Freeport-McMoran Inc. | 1.36% | 2,788,269 | $109.4M | Reduce -16.7% |
| B Barrick Mining Corp. | 1.25% | 3,068,685 | $100.6M | Add +0.7% |
| CHKP Check Point Software Tech | 1.22% | 475,614 | $98.4M | Reduce -1.0% |
| ITUB Itau Unibanco H-Spon PRF ADR | 1.18% | 12,966,314 | $95.2M | Reduce -7.3% |
| GOOGL Alphabet Inc. Class A | 1.10% | 365,593 | $88.9M | Reduce -2.9% |
| AVGO Broadcom Inc. | 1.07% | 260,616 | $86.0M | Add +0.3% |
| CX Cemex Sab-Spons ADR Part Cer | 1.03% | 9,201,553 | $82.7M | Add +0.7% |
| LIN Linde PLC | 0.99% | 167,528 | $79.6M | Reduce -11.6% |
| JAZZ Jazz Pharmaceuticals PLC | 0.99% | 602,647 | $79.4M | Reduce -32.1% |
| HDB HDFC Bank Ltd.-ADR | 0.94% | 2,226,964 | $76.1M | Add +1.1% |
| PRGO Perrigo Co. PLC | 0.87% | 3,149,878 | $70.1M | Add +64.2% |
| AMZN Amazon.com Inc. | 0.87% | 317,736 | $69.8M | Add +8.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.81% | 234,571 | $65.5M | Reduce -3.6% |
| CCL Carnival Corp. | 0.60% | 1,670,964 | $48.3M | Reduce -0.9% |
| ETR Entergy Corp. | 0.58% | 505,607 | $47.1M | Reduce -1.0% |
| MRK Merck & Co. Inc. | 0.58% | 554,455 | $46.5M | Reduce -32.7% |
| PNW Pinnacle West Capital | 0.55% | 493,105 | $44.2M | Add +17.5% |
| CVX Chevron Corp. | 0.55% | 284,382 | $44.2M | Add +1543.0% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.53% | 1,719,250 | $42.8M | Add +116.7% |
| ZS Zscaler Inc. | 0.52% | 141,071 | $42.3M | Reduce -19.8% |
| PBR Petroleo Brasileiro-Spon ADR | 0.52% | 3,295,157 | $41.7M | Add +1.0% |
| GE General Electric filed as GE AEROSPACE | 0.51% | 137,757 | $41.4M | Reduce -31.5% |
| MCHP Microchip Technology Inc. | 0.51% | 640,990 | $41.2M | Reduce -0.2% |
| CME Cme Group Inc. | 0.50% | 150,489 | $40.7M | Reduce -27.7% |
| PLD Prologis Inc. | 0.50% | 349,984 | $40.1M | Reduce -3.7% |
| APTV Aptiv PLC | 0.50% | 463,568 | $40.0M | Reduce -36.7% |
| UBER Uber Technologies Inc. | 0.49% | 405,440 | $39.7M | Reduce -40.6% |
| WPM Wheaton Precious Metals Corp. | 0.49% | 350,041 | $39.1M | Reduce -39.7% |
| CBOE Cboe Global Markets Inc. | 0.48% | 158,684 | $38.9M | Reduce -36.3% |
| JBL Jabil Inc. | 0.48% | 176,950 | $38.4M | Reduce -29.4% |
| EG Everest Group Ltd. | 0.48% | 109,514 | $38.4M | Reduce -0.3% |
| PSA Public Storage | 0.47% | 132,425 | $38.3M | Reduce -3.0% |
| ARQT Arcutis Biotherapeutics Inc. | 0.47% | 2,024,606 | $38.2M | Add +7534.3% |
| CRM Salesforce Inc. | 0.47% | 160,009 | $37.9M | Reduce -26.0% |
| CNH CNH Industrial NV | 0.47% | 3,479,785 | $37.8M | Reduce -52.6% |
| ENTG Entegris Inc. | 0.47% | 407,201 | $37.6M | Reduce -0.6% |
| NTNX Nutanix Inc. Class A | 0.47% | 505,491 | $37.6M | Reduce -32.5% |
| PR Permian Resources Corp. Class A | 0.47% | 2,937,064 | $37.6M | Reduce -0.4% |
| NFLX Netflix Inc. | 0.47% | 31,245 | $37.5M | Reduce -34.8% |
| QCOM Qualcomm Inc. | 0.46% | 224,121 | $37.3M | Reduce -0.7% |
| NICE Nice Ltd. - Spon ADR | 0.46% | 256,614 | $37.2M | Reduce -0.8% |
| SNEX Stonex Group Inc. | 0.46% | 367,725 | $37.1M | Reduce -43.0% |
| AMT American Tower Corp. | 0.45% | 189,586 | $36.5M | Add +1833.4% |
| ARGX Argenx SE - ADR | 0.45% | 49,379 | $36.4M | Reduce -49.1% |
| RDDT Reddit Inc. Class A | 0.45% | 156,643 | $36.0M | Reduce -53.3% |
| IBN Icici Bank Ltd.-Spon ADR | 0.44% | 1,174,716 | $35.5M | Add +0.1% |
| AIG American International Group | 0.44% | 446,270 | $35.1M | Reduce -0.8% |
| RBRK Rubrik Inc. Class A | 0.43% | 416,971 | $34.3M | Reduce -29.0% |
| MS Morgan Stanley | 0.43% | 215,631 | $34.3M | Add +3945.6% |
| NEM Newmont Corp. | 0.42% | 398,315 | $33.6M | Reduce -49.2% |
| CLVT Clarivate PLC | 0.41% | 8,567,267 | $32.8M | Add +3.4% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 0.40% | 450,450 | $32.6M | Reduce -28.9% |
| APD Air Products & Chemicals Inc. | 0.40% | 117,032 | $31.9M | Reduce -2.1% |
| WAL Western Alliance Bancorp | 0.39% | 358,303 | $31.1M | New |
| ADMA Adma Biologics Inc. | 0.39% | 2,119,291 | $31.1M | Reduce -26.8% |
| COIN Coinbase Global Inc. Class A | 0.38% | 91,254 | $30.8M | Reduce -48.7% |
| WTW Willis Towers Watson PLC | 0.38% | 88,383 | $30.5M | Reduce -14.0% |
| FTV Fortive Corp. | 0.37% | 613,793 | $30.1M | Add +40.7% |
| TME Tencent Music Entertainm-ADR | 0.35% | 1,202,899 | $28.1M | Reduce -17.1% |
| LEN Lennar Corp. Class A | 0.35% | 222,130 | $28.0M | Reduce -0.8% |
| JCI Johnson Controls Internation | 0.35% | 252,997 | $27.8M | Reduce -2.0% |
| AXTA Axalta Coating Systems Ltd. | 0.33% | 917,760 | $26.3M | Add +29.6% |
| HAL Halliburton Co. | 0.33% | 1,064,329 | $26.2M | Reduce -1.6% |
| SHOP Shopify Inc. Class A | 0.32% | 173,569 | $25.8M | Add +0.8% |
| MAA Mid-America Apartment Comm | 0.32% | 183,675 | $25.7M | Reduce -0.8% |
| NVDA Nvidia Corp. | 0.32% | 137,049 | $25.6M | Add +18.8% |
| SLM SLM Corp. | 0.31% | 906,392 | $25.1M | Reduce -1.0% |
| VRT Vertiv Holdings Co. Class A | 0.28% | 150,192 | $22.7M | Reduce -42.6% |
| CIEN Ciena Corp. | 0.28% | 154,875 | $22.6M | Reduce -38.1% |
| KDP Keurig Dr Pepper Inc. | 0.28% | 884,035 | $22.6M | Reduce -1.3% |
| AVTR Avantor Inc. | 0.28% | 1,803,730 | $22.5M | Reduce -0.1% |
| WMG Warner Music Group Corp. Class A | 0.28% | 655,284 | $22.3M | Reduce -0.8% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.26% | 1,323,183 | $21.2M | No change |
| INFY Infosys Ltd.-SP ADR | 0.26% | 1,285,679 | $20.9M | Add +2.4% |
| AAPL Apple Inc. | 0.26% | 82,075 | $20.9M | Add +17.9% |
| JD Jd.com Inc.-ADR | 0.25% | 568,308 | $19.9M | Reduce -0.8% |
| NWS News Corp. Class B | 0.24% | 563,116 | $19.5M | New |
| XYL Xylem Inc. | 0.23% | 124,176 | $18.3M | Reduce -14.6% |
| MLI Mueller Industries Inc. | 0.21% | 171,192 | $17.3M | Add +4.2% |
Portfolio Sells Q2 2025 → Q3 2025
| CMS CMS Energy Corp. | Sold out | 0.00% | −1.66 |
| ORCL Oracle Corp. | Reduce -56.5% | 1.64% | −1.13 |
| PGR Progressive Corp. | Reduce -99.5% | 0.00% | −1.06 |
| FMX Fomento Economico Mex-SP ADR | Reduce -95.4% | 0.05% | −1.06 |
| FLUT Flutter Entertainment PLC-Di | Reduce -17.0% | 2.93% | −0.83 |
| TW Tradeweb Markets Inc. Class A | Sold out | 0.00% | −0.68 |
| CNH CNH Industrial NV | Reduce -52.6% | 0.47% | −0.65 |
| ISRG Intuitive Surgical Inc. | Reduce -99.2% | 0.00% | −0.65 |
| TOST Toast Inc. Class A | Sold out | 0.00% | −0.63 |
| MELI MercadoLibre Inc. | Reduce -15.3% | 2.53% | −0.63 |
| SBAC SBA Communications Corp. | Sold out | 0.00% | −0.51 |
| EMR Emerson Electric Co. | Reduce -24.3% | 1.71% | −0.46 |
| SPOT Spotify Technology SA | Reduce -17.1% | 1.76% | −0.44 |
| FIS Fidelity National Info Serv | Reduce -99.2% | 0.00% | −0.44 |
| BAC Bank of America Corp. | Reduce -86.2% | 0.07% | −0.38 |
| ICE Intercontinental Exchange Inc. | Reduce -9.3% | 2.67% | −0.36 |
| COIN Coinbase Global Inc. Class A | Reduce -48.7% | 0.38% | −0.35 |
| FCX Freeport-McMoran Inc. | Reduce -16.7% | 1.36% | −0.35 |
| SE Sea Ltd.-ADR | Reduce -24.5% | 2.62% | −0.32 |
| HES Hess Corp. | Sold out | 0.00% | −0.30 |
| QTWO Q2 Holdings Inc. | Reduce -28.9% | 0.40% | −0.29 |
| NFLX Netflix Inc. | Reduce -34.8% | 0.47% | −0.29 |
| UBER Uber Technologies Inc. | Reduce -40.6% | 0.49% | −0.25 |
| PHG Koninklijke Philips NVR- NY | Sold out | 0.00% | −0.25 |
| ADMA Adma Biologics Inc. | Reduce -26.8% | 0.39% | −0.23 |
| SNEX Stonex Group Inc. | Reduce -43.0% | 0.46% | −0.23 |
| CRM Salesforce Inc. | Reduce -26.0% | 0.47% | −0.22 |
| NTNX Nutanix Inc. Class A | Reduce -32.5% | 0.47% | −0.21 |
| CBOE Cboe Global Markets Inc. | Reduce -36.3% | 0.48% | −0.20 |
| RBRK Rubrik Inc. Class A | Reduce -29.0% | 0.43% | −0.19 |
| MRK Merck & Co. Inc. | Reduce -32.7% | 0.58% | −0.19 |
| ARGX Argenx SE - ADR | Reduce -49.1% | 0.45% | −0.18 |
| CME Cme Group Inc. | Reduce -27.7% | 0.50% | −0.17 |
| JBL Jabil Inc. | Reduce -29.4% | 0.48% | −0.16 |
| RDDT Reddit Inc. Class A | Reduce -53.3% | 0.45% | −0.15 |
| WPM Wheaton Precious Metals Corp. | Reduce -39.7% | 0.49% | −0.13 |
| ZS Zscaler Inc. | Reduce -19.8% | 0.52% | −0.12 |
| NEM Newmont Corp. | Reduce -49.2% | 0.42% | −0.12 |
| JAZZ Jazz Pharmaceuticals PLC | Reduce -32.1% | 0.99% | −0.12 |
| VRT Vertiv Holdings Co. Class A | Reduce -42.6% | 0.28% | −0.11 |
| GE General Electric | Reduce -31.5% | 0.51% | −0.09 |
| APTV Aptiv PLC | Reduce -36.7% | 0.50% | −0.09 |
| KDP Keurig Dr Pepper Inc. | Reduce -1.3% | 0.28% | −0.07 |
| BMI Badger Meter Inc. | Reduce -20.4% | 0.09% | −0.06 |
| LIN Linde PLC | Reduce -11.6% | 0.99% | −0.06 |
| NICE Nice Ltd. - Spon ADR | Reduce -0.8% | 0.46% | −0.05 |
| SLM SLM Corp. | Reduce -1.0% | 0.31% | −0.04 |
| VRSK Verisk Analytics Inc. | Reduce -58.5% | 0.02% | −0.04 |
| ITRI Itron Inc. | Reduce -61.4% | 0.02% | −0.03 |
| ABEV Ambev SA-ADR | Reduce -87.2% | 0.00% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| SRE Sempra | Add +59.0% | 3.61% | +1.80 |
| TIGO Millicom Intl Cellular S.A. | Add +5283.2% | 1.65% | +1.62 |
| UNP Union Pacific Corp. | Add +6285.2% | 1.50% | +1.48 |
| CDW CDW Corp. | Add +42.2% | 3.15% | +0.80 |
| FERG Ferguson Enterprises Inc. | Add +52.5% | 1.64% | +0.66 |
| TMO Thermo Fisher Scientific Inc. | Add +4.8% | 2.52% | +0.62 |
| ATO Atmos Energy Corp. | Add +5.1% | 3.14% | +0.59 |
| PM Philip Morris International | Add +31.4% | 2.85% | +0.55 |
| MSFT Microsoft Corp. | Add +8.4% | 3.24% | +0.52 |
| CVX Chevron Corp. | Add +1543.0% | 0.55% | +0.52 |
| B Barrick Mining Corp. | Add +0.7% | 1.25% | +0.50 |
| ARQT Arcutis Biotherapeutics Inc. | Add +7534.3% | 0.47% | +0.47 |
| AMT American Tower Corp. | Add +1833.4% | 0.45% | +0.43 |
| MS Morgan Stanley | Add +3945.6% | 0.43% | +0.42 |
| WAL Western Alliance Bancorp | New | 0.39% | +0.39 |
| CSX CSX Corp. | Add +10.9% | 1.77% | +0.38 |
| SBS Cia Saneamento Basico DE-ADR | Add +116.7% | 0.53% | +0.33 |
| CX Cemex Sab-Spons ADR Part Cer | Add +0.7% | 1.03% | +0.28 |
| PRGO Perrigo Co. PLC | Add +64.2% | 0.87% | +0.27 |
| NWS News Corp. Class B | New | 0.24% | +0.24 |
| AVGO Broadcom Inc. | Add +0.3% | 1.07% | +0.23 |
| GEO The Geo Group Inc. | New | 0.21% | +0.21 |
| FUTU Futu Holdings Ltd.-ADR | New | 0.14% | +0.14 |
| AMZN Amazon.com Inc. | Add +8.9% | 0.87% | +0.11 |
| PNW Pinnacle West Capital | Add +17.5% | 0.55% | +0.11 |
| FTV Fortive Corp. | Add +40.7% | 0.37% | +0.11 |
| NVDA Nvidia Corp. | Add +18.8% | 0.32% | +0.10 |
| FOX Fox Corp. Class B | New | 0.10% | +0.10 |
| AAPL Apple Inc. | Add +17.9% | 0.26% | +0.09 |
| SHOP Shopify Inc. Class A | Add +0.8% | 0.32% | +0.09 |
| NOMD Nomad Foods Ltd. | Add +115.7% | 0.19% | +0.08 |
| BBD Banco Bradesco-ADR | Add +67.5% | 0.16% | +0.08 |
| AXTA Axalta Coating Systems Ltd. | Add +29.6% | 0.33% | +0.08 |
| AU Anglogold Ashanti PLC | New | 0.07% | +0.07 |
| MLI Mueller Industries Inc. | Add +4.2% | 0.21% | +0.06 |
| MDT Medtronic PLC | Add +50.1% | 0.13% | +0.06 |
| ZWS Zurn Elkay Water Solutions C | Add +1.1% | 0.20% | +0.05 |
| WMT Walmart Inc. | Add +401.0% | 0.06% | +0.05 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 0.04% | +0.04 |
| SQM Quimica Y Minera Chil-SP ADR | New | 0.04% | +0.04 |
| MU Micron Technology Inc. | New | 0.04% | +0.04 |
| PBR Petroleo Brasileiro-Spon ADR | Add +1.0% | 0.52% | +0.04 |
| WTS Watts Water Technologies-A | Add +1.1% | 0.21% | +0.04 |
| GOOG Alphabet Inc. Class C | Add +34.4% | 0.07% | +0.03 |
| AOS Smith (a.o.) Corp. | Add +8.9% | 0.14% | +0.03 |
| FOXA Fox Corp. Class A | New | 0.03% | +0.03 |
| PLTR Palantir Technologies Inc. Class A | Add +42.2% | 0.06% | +0.03 |
| STNE Stoneco Ltd. Class A | Add +21.2% | 0.09% | +0.03 |
| TSLA Tesla Inc. | Add +57.0% | 0.04% | +0.02 |
| INTC Intel Corp. | Add +23.1% | 0.05% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 419 | $7.0B | SRE, TEL, FLUT, ATO, CRH |
| Q1 2026 | 424 | $6.5B | SRE, ATO, FLUT, ICE, PM |
| Q4 2025 | 411 | $6.9B | SRE, MSFT, ATO, PM, CRH |
| Q3 2025 | 400 | $8.1B | SRE, MSFT, CDW, ATO, FLUT |
| Q2 2025 | 416 | $8.5B | FLUT, MELI, ICE, SE, ORCL |
| Q1 2025 | 411 | $8.3B | MELI, SE, ICE, FLUT, ATO |
| Q4 2024 | 409 | $8.5B | FLUT, MSFT, MELI, SPOT, ICE |
| Q3 2024 | 418 | $9.2B | LIN, FLUT, MELI, MSFT, SPOT |
| Q2 2024 | 424 | $9.2B | LIN, CRH, MSFT, MELI, FLUT |
| Q1 2024Amended | 433 | $10.2B | LIN, CRH, MSFT, ITUB, ELV |