Perpetual Ltd
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 20, 2026), Perpetual Ltd reported 411 stock positions worth $6.9 billion. Its top holding was Sempra (SRE) at 4.1% of the portfolio, followed by Microsoft (MSFT, 3.4%) and Atmos Energy (ATO, 3.4%). Compared with Q3 2025, it opened 75 new positions, sold out of 65, added to 179 and reduced 132. The biggest buy was Corteva (CTVA, shares +78689%) and the biggest sale an exit from Aercap (AER).
- Most Recent 13F
- Q2 2026
- Location
- SYDNEY, NEW SOUTH WALES, C3
- CIK
- 0001647273
- Portfolio Value
- $6.9B (Q4 2025)
- SEC Filing
- 0001104659-26-004946 ↗ filed Jan 20, 2026
Holdings Value
Holdings 411 stocks · $6.9B
| SRE Sempra | 4.10% | 3,208,880 | $283.3M | Reduce -0.8% |
| MSFT Microsoft Corp. | 3.44% | 491,186 | $237.5M | Reduce -2.5% |
| ATO Atmos Energy Corp. | 3.39% | 1,398,334 | $234.4M | Reduce -5.7% |
| PM Philip Morris International | 3.35% | 1,445,252 | $231.8M | Add +2.2% |
| CRH CRH PLC | 3.13% | 1,733,992 | $216.4M | Add +4.5% |
| ICE Intercontinental Exchange Inc. | 3.13% | 1,335,571 | $216.3M | Add +4.5% |
| FLUT Flutter Entertainment PLC-Di | 3.00% | 963,249 | $207.1M | Add +3.6% |
| CTVA Corteva Inc. | 2.54% | 2,615,779 | $175.3M | Add +78688.5% |
| CSX CSX Corp. | 2.53% | 4,818,959 | $174.7M | Add +20.1% |
| UNP Union Pacific Corp. | 2.40% | 718,637 | $166.2M | Add +40.3% |
| TMO Thermo Fisher Scientific Inc. | 2.28% | 272,061 | $157.6M | Reduce -35.1% |
| CDW CDW Corp. | 2.14% | 1,087,505 | $148.1M | Reduce -31.7% |
| SE Sea Ltd.-ADR | 2.02% | 1,095,702 | $139.8M | Reduce -7.3% |
| FCX Freeport-McMoran Inc. | 1.87% | 2,551,350 | $129.6M | Reduce -8.5% |
| NVDA Nvidia Corp. | 1.74% | 645,261 | $120.3M | Add +370.8% |
| GXO Gxo Logistics Inc. | 1.65% | 2,168,467 | $114.1M | Reduce -20.0% |
| TIGO Millicom Intl Cellular S.A. | 1.64% | 2,049,074 | $113.6M | Reduce -25.0% |
| EMR Emerson Electric Co. | 1.57% | 818,259 | $108.6M | Reduce -21.9% |
| TSM Taiwan Semiconductor-SP ADR | 1.50% | 342,284 | $104.0M | Add +45.9% |
| SPOT Spotify Technology SA | 1.50% | 178,857 | $103.9M | Reduce -11.8% |
| B Barrick Mining Corp. | 1.50% | 2,377,746 | $103.6M | Reduce -22.5% |
| CX Cemex Sab-Spons ADR Part Cer | 1.47% | 8,866,448 | $101.9M | Reduce -3.6% |
| FERG Ferguson Enterprises Inc. | 1.46% | 451,956 | $100.6M | Reduce -23.4% |
| GOOGL Alphabet Inc. Class A | 1.41% | 310,458 | $97.2M | Reduce -15.1% |
| ITUB Itau Unibanco H-Spon PRF ADR | 1.40% | 13,477,395 | $96.5M | Add +3.9% |
| HDB HDFC Bank Ltd.-ADR | 1.18% | 2,229,755 | $81.5M | Add +0.1% |
| AMZN Amazon.com Inc. | 0.96% | 286,284 | $66.1M | Reduce -9.9% |
| AVGO Broadcom Inc. | 0.95% | 188,928 | $65.4M | Reduce -27.5% |
| MELI MercadoLibre Inc. | 0.93% | 31,808 | $64.1M | Reduce -63.5% |
| AIG American International Group | 0.89% | 715,870 | $61.2M | Add +60.4% |
| MRK Merck & Co. Inc. | 0.86% | 563,716 | $59.3M | Add +1.7% |
| PR Permian Resources Corp. Class A | 0.70% | 3,443,381 | $48.3M | Add +17.2% |
| ETR Entergy Corp. | 0.70% | 519,976 | $48.1M | Add +2.8% |
| WAL Western Alliance Bancorp | 0.68% | 557,894 | $46.9M | Add +55.7% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.67% | 2,787,570 | $46.7M | Add +110.7% |
| CVX Chevron Corp. | 0.64% | 291,440 | $44.4M | Add +2.5% |
| PNW Pinnacle West Capital | 0.64% | 499,007 | $44.3M | Add +1.2% |
| MLI Mueller Industries Inc. | 0.61% | 370,357 | $42.5M | Add +116.3% |
| MCHP Microchip Technology Inc. | 0.61% | 659,828 | $42.0M | Add +2.9% |
| NEM Newmont Corp. | 0.60% | 412,871 | $41.2M | Add +3.6% |
| QCOM Qualcomm Inc. | 0.57% | 231,500 | $39.6M | Add +3.3% |
| PBR Petroleo Brasileiro-Spon ADR | 0.57% | 3,313,257 | $39.3M | Add +0.6% |
| EG Everest Group Ltd. | 0.56% | 113,986 | $38.7M | Add +4.1% |
| AXTA Axalta Coating Systems Ltd. | 0.55% | 1,186,312 | $38.3M | Add +29.3% |
| GEHC GE Healthcare Technology | 0.54% | 459,112 | $37.7M | New |
| LLY Eli Lilly & Co. | 0.53% | 34,170 | $36.7M | Add +1148.9% |
| LPLA LPL Financial Holdings Inc. | 0.52% | 101,433 | $36.2M | New |
| CCL Carnival Corp. | 0.52% | 1,171,529 | $35.8M | Reduce -29.9% |
| PSA Public Storage | 0.51% | 136,273 | $35.4M | Add +2.9% |
| ENTG Entegris Inc. | 0.51% | 418,090 | $35.2M | Add +2.7% |
| FTV Fortive Corp. | 0.50% | 630,963 | $34.8M | Add +2.8% |
| DD Dupont DE Nemours Inc. | 0.50% | 864,405 | $34.7M | Add +19109.0% |
| AMT American Tower Corp. | 0.50% | 197,131 | $34.6M | Add +4.0% |
| HPE Hewlett Packard Enterprise | 0.49% | 1,422,248 | $34.2M | New |
| IBN Icici Bank Ltd.-Spon ADR | 0.49% | 1,146,232 | $34.2M | Reduce -2.4% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.46% | 1,322,796 | $31.5M | Reduce -23.1% |
| HAL Halliburton Co. | 0.45% | 1,094,104 | $30.9M | Add +2.8% |
| GE General Electric filed as GE AEROSPACE | 0.43% | 97,032 | $29.9M | Reduce -29.6% |
| MS Morgan Stanley | 0.43% | 167,498 | $29.7M | Reduce -22.3% |
| APD Air Products & Chemicals Inc. | 0.43% | 119,937 | $29.6M | Add +2.5% |
| AAPL Apple Inc. | 0.42% | 106,994 | $29.1M | Add +30.4% |
| GS Goldman Sachs Group Inc. | 0.41% | 32,049 | $28.2M | Add +4035.3% |
| TECK Teck Resources Ltd.-CLS B | 0.39% | 560,406 | $26.8M | New |
| PLD Prologis Inc. | 0.39% | 209,381 | $26.7M | Reduce -40.2% |
| ARQT Arcutis Biotherapeutics Inc. | 0.38% | 910,630 | $26.4M | Reduce -55.0% |
| JAZZ Jazz Pharmaceuticals PLC | 0.38% | 154,650 | $26.3M | Reduce -74.3% |
| MAA Mid-America Apartment Comm | 0.38% | 187,771 | $26.1M | Add +2.2% |
| TKO Tko Group Holdings Inc. | 0.38% | 124,624 | $26.0M | New |
| ARGX Argenx SE - ADR | 0.38% | 30,950 | $26.0M | Reduce -37.3% |
| PCG P G & E Corp. | 0.38% | 1,615,124 | $26.0M | Add +2080.1% |
| CBOE Cboe Global Markets Inc. | 0.38% | 103,299 | $25.9M | Reduce -34.9% |
| WPM Wheaton Precious Metals Corp. | 0.37% | 220,288 | $25.9M | Reduce -37.1% |
| SNEX Stonex Group Inc. | 0.37% | 270,886 | $25.8M | Reduce -26.3% |
| KDP Keurig Dr Pepper Inc. | 0.37% | 918,260 | $25.7M | Add +3.9% |
| GMAB Genmab A/S -SP ADR | 0.37% | 827,217 | $25.5M | New |
| NFLX Netflix Inc. | 0.37% | 271,496 | $25.5M | Reduce -13.1% |
| NXT Nextpower Inc. | 0.37% | 291,693 | $25.4M | Add +2865.3% |
| SLM SLM Corp. | 0.36% | 919,429 | $24.9M | Add +1.4% |
| INSM Insmed Inc. | 0.36% | 141,517 | $24.6M | New |
| RBRK Rubrik Inc. Class A | 0.35% | 320,680 | $24.5M | Reduce -23.1% |
| UBER Uber Technologies Inc. | 0.35% | 299,225 | $24.4M | Reduce -26.2% |
| JCI Johnson Controls Internation | 0.34% | 198,190 | $23.7M | Reduce -21.7% |
| NTNX Nutanix Inc. Class A | 0.33% | 441,743 | $22.8M | Reduce -12.6% |
| UNH Unitedhealth Group Inc. | 0.33% | 68,608 | $22.6M | Add +539.9% |
| LFUS Littelfuse Inc. | 0.33% | 89,408 | $22.6M | Add +11392.0% |
| ZS Zscaler Inc. | 0.32% | 98,142 | $22.1M | Reduce -30.4% |
| MDU Mdu Resources Group Inc. | 0.32% | 1,128,612 | $22.0M | New |
| AVTR Avantor Inc. | 0.30% | 1,832,066 | $21.0M | Add +1.6% |
| WMG Warner Music Group Corp. Class A | 0.29% | 657,542 | $20.2M | Add +0.3% |
| HUM Humana Inc. | 0.29% | 77,843 | $19.9M | New |
| INFY Infosys Ltd.-SP ADR | 0.28% | 1,096,289 | $19.5M | Reduce -14.7% |
| CCK Crown Holdings Inc. | 0.25% | 166,753 | $17.2M | Add +23.1% |
| JD Jd.com Inc.-ADR | 0.24% | 577,410 | $16.6M | Add +1.6% |
| WTS Watts Water Technologies-A | 0.24% | 59,889 | $16.5M | Add +0.4% |
| AWK American Water Works Co. Inc. | 0.24% | 125,011 | $16.3M | Add +5.6% |
| TME Tencent Music Entertainm-ADR | 0.23% | 911,100 | $16.0M | Reduce -24.3% |
| WM Waste Management Inc. | 0.23% | 71,422 | $15.7M | Add +5.3% |
| ZWS Zurn Elkay Water Solutions C | 0.22% | 332,501 | $15.5M | Reduce -2.8% |
| PNR Pentair PLC | 0.22% | 146,629 | $15.3M | Reduce -2.0% |
| XYL Xylem Inc. | 0.22% | 109,807 | $15.0M | Reduce -11.6% |
Portfolio Sells Q3 2025 → Q4 2025
| AER Aercap Holdings NV | Sold out | 0.00% | −1.95 |
| MELI MercadoLibre Inc. | Reduce -63.5% | 0.93% | −1.60 |
| ORCL Oracle Corp. | Reduce -95.2% | 0.06% | −1.58 |
| GTLS Chart Industries Inc. | Reduce -98.8% | 0.02% | −1.56 |
| CHKP Check Point Software Tech | Sold out | 0.00% | −1.22 |
| CDW CDW Corp. | Reduce -31.7% | 2.14% | −1.01 |
| LIN Linde PLC | Reduce -96.7% | 0.03% | −0.95 |
| PRGO Perrigo Co. PLC | Sold out | 0.00% | −0.87 |
| JAZZ Jazz Pharmaceuticals PLC | Reduce -74.3% | 0.38% | −0.61 |
| SE Sea Ltd.-ADR | Reduce -7.3% | 2.02% | −0.60 |
| APTV Aptiv PLC | Sold out | 0.00% | −0.50 |
| CME Cme Group Inc. | Reduce -98.2% | 0.01% | −0.49 |
| JBL Jabil Inc. | Sold out | 0.00% | −0.48 |
| CNH CNH Industrial NV | Sold out | 0.00% | −0.47 |
| NICE Nice Ltd. - Spon ADR | Sold out | 0.00% | −0.46 |
| CRM Salesforce Inc. | Reduce -97.4% | 0.02% | −0.46 |
| RDDT Reddit Inc. Class A | Sold out | 0.00% | −0.45 |
| CLVT Clarivate PLC | Sold out | 0.00% | −0.41 |
| QTWO Q2 Holdings Inc. | Sold out | 0.00% | −0.40 |
| ADMA Adma Biologics Inc. | Sold out | 0.00% | −0.39 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.38 |
| WTW Willis Towers Watson PLC | Reduce -99.3% | 0.00% | −0.38 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.35 |
| SHOP Shopify Inc. Class A | Reduce -93.6% | 0.03% | −0.29 |
| CIEN Ciena Corp. | Sold out | 0.00% | −0.28 |
| VRT Vertiv Holdings Co. Class A | Reduce -97.6% | 0.01% | −0.27 |
| SPOT Spotify Technology SA | Reduce -11.8% | 1.50% | −0.25 |
| TMO Thermo Fisher Scientific Inc. | Reduce -35.1% | 2.28% | −0.24 |
| ZS Zscaler Inc. | Reduce -30.4% | 0.32% | −0.21 |
| CTSH Cognizant Tech Solutions-A | Reduce -98.9% | 0.00% | −0.20 |
| NOMD Nomad Foods Ltd. | Sold out | 0.00% | −0.19 |
| FERG Ferguson Enterprises Inc. | Reduce -23.4% | 1.46% | −0.19 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −0.19 |
| WTM White Mountains Insurance GP | Sold out | 0.00% | −0.17 |
| NWS News Corp. Class B | Reduce -65.8% | 0.08% | −0.16 |
| BUD Anheuser-Busch Inbev-SPN ADR | Sold out | 0.00% | −0.14 |
| UBER Uber Technologies Inc. | Reduce -26.2% | 0.35% | −0.14 |
| NTNX Nutanix Inc. Class A | Reduce -12.6% | 0.33% | −0.14 |
| EMR Emerson Electric Co. | Reduce -21.9% | 1.57% | −0.14 |
| GXO Gxo Logistics Inc. | Reduce -20.0% | 1.65% | −0.13 |
| BPOP Popular Inc. | Sold out | 0.00% | −0.13 |
| GLNG Golar LNG Ltd. | Sold out | 0.00% | −0.12 |
| AVGO Broadcom Inc. | Reduce -27.5% | 0.95% | −0.12 |
| TME Tencent Music Entertainm-ADR | Reduce -24.3% | 0.23% | −0.12 |
| MDT Medtronic PLC | Reduce -88.0% | 0.02% | −0.11 |
| WPM Wheaton Precious Metals Corp. | Reduce -37.1% | 0.37% | −0.11 |
| PLD Prologis Inc. | Reduce -40.2% | 0.39% | −0.11 |
| CBOE Cboe Global Markets Inc. | Reduce -34.9% | 0.38% | −0.11 |
| NFLX Netflix Inc. | Reduce -13.1% | 0.37% | −0.10 |
| ARQT Arcutis Biotherapeutics Inc. | Reduce -55.0% | 0.38% | −0.09 |
Portfolio Buys Q3 2025 → Q4 2025
| CTVA Corteva Inc. | Add +78688.5% | 2.54% | +2.53 |
| NVDA Nvidia Corp. | Add +370.8% | 1.74% | +1.42 |
| UNP Union Pacific Corp. | Add +40.3% | 2.40% | +0.90 |
| CSX CSX Corp. | Add +20.1% | 2.53% | +0.76 |
| TSM Taiwan Semiconductor-SP ADR | Add +45.9% | 1.50% | +0.69 |
| CRH CRH PLC | Add +4.5% | 3.13% | +0.66 |
| GEHC GE Healthcare Technology | New | 0.54% | +0.54 |
| LPLA LPL Financial Holdings Inc. | New | 0.52% | +0.52 |
| PM Philip Morris International | Add +2.2% | 3.35% | +0.51 |
| LLY Eli Lilly & Co. | Add +1148.9% | 0.53% | +0.51 |
| DD Dupont DE Nemours Inc. | Add +19109.0% | 0.50% | +0.50 |
| HPE Hewlett Packard Enterprise | New | 0.49% | +0.49 |
| ICE Intercontinental Exchange Inc. | Add +4.5% | 3.13% | +0.46 |
| AIG American International Group | Add +60.4% | 0.89% | +0.45 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +110.7% | 0.67% | +0.41 |
| MLI Mueller Industries Inc. | Add +116.3% | 0.61% | +0.40 |
| GS Goldman Sachs Group Inc. | Add +4035.3% | 0.41% | +0.40 |
| TECK Teck Resources Ltd.-CLS B | New | 0.39% | +0.39 |
| TKO Tko Group Holdings Inc. | New | 0.38% | +0.38 |
| GMAB Genmab A/S -SP ADR | New | 0.37% | +0.37 |
| PCG P G & E Corp. | Add +2080.1% | 0.38% | +0.36 |
| NXT Nextpower Inc. | Add +2865.3% | 0.37% | +0.36 |
| INSM Insmed Inc. | New | 0.36% | +0.36 |
| LFUS Littelfuse Inc. | Add +11392.0% | 0.33% | +0.32 |
| MDU Mdu Resources Group Inc. | New | 0.32% | +0.32 |
| WAL Western Alliance Bancorp | Add +55.7% | 0.68% | +0.29 |
| HUM Humana Inc. | New | 0.29% | +0.29 |
| UNH Unitedhealth Group Inc. | Add +539.9% | 0.33% | +0.28 |
| MRK Merck & Co. Inc. | Add +1.7% | 0.86% | +0.28 |
| HDB HDFC Bank Ltd.-ADR | Add +0.1% | 1.18% | +0.23 |
| PR Permian Resources Corp. Class A | Add +17.2% | 0.70% | +0.23 |
| AXTA Axalta Coating Systems Ltd. | Add +29.3% | 0.55% | +0.23 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +3.9% | 1.40% | +0.21 |
| NEM Newmont Corp. | Add +3.6% | 0.60% | +0.18 |
| AAPL Apple Inc. | Add +30.4% | 0.42% | +0.16 |
| FTV Fortive Corp. | Add +2.8% | 0.50% | +0.13 |
| HAL Halliburton Co. | Add +2.8% | 0.45% | +0.12 |
| ETR Entergy Corp. | Add +2.8% | 0.70% | +0.11 |
| QCOM Qualcomm Inc. | Add +3.3% | 0.57% | +0.11 |
| MCHP Microchip Technology Inc. | Add +2.9% | 0.61% | +0.10 |
| CVX Chevron Corp. | Add +2.5% | 0.64% | +0.09 |
| KDP Keurig Dr Pepper Inc. | Add +3.9% | 0.37% | +0.09 |
| PNW Pinnacle West Capital | Add +1.2% | 0.64% | +0.09 |
| CCK Crown Holdings Inc. | Add +23.1% | 0.25% | +0.09 |
| EG Everest Group Ltd. | Add +4.1% | 0.56% | +0.08 |
| FMX Fomento Economico Mex-SP ADR | Add +100.2% | 0.12% | +0.07 |
| GOOG Alphabet Inc. Class C | Add +33.5% | 0.14% | +0.07 |
| FLUT Flutter Entertainment PLC-Di | Add +3.6% | 3.00% | +0.06 |
| SQM Quimica Y Minera Chil-SP ADR | Add +29.9% | 0.10% | +0.06 |
| MAA Mid-America Apartment Comm | Add +2.2% | 0.38% | +0.06 |
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 |