Platinum Investment Management Ltd.

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), Platinum Investment Management Ltd. reported 85 stock positions worth $406.7 million. Its top holding was Zto Express Cayman Inc.-ADR (ZTO) at 11.0% of the portfolio, followed by Micron Technology (MU, 5.0%) and Lam Research (LRCX, 4.9%). Compared with Q1 2026, it opened 10 new positions, sold out of 14, added to 8 and reduced 22. The biggest buy was a new position in Datadog Class A (DDOG) and the biggest sale an exit from Terns Pharmaceuticals (TERN).

Most Recent 13F
Q2 2026
Location
SYDNEY AUSTRALIA 2000, C3
CIK
0001256071
Portfolio Value
$406.7M (Q2 2026)
SEC Filing
0001256071-26-000007 ↗ filed Aug 13, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $2.5B Q1 2024 Q2 2024: $2.5B Q2 2024 Q3 2024: $2.2B Q3 2024 Q4 2024: $1.7B Q4 2024 Q1 2025: $1.7B Q1 2025 Q2 2025: $1.5B Q2 2025 Q3 2025: $1.5B Q3 2025 Q4 2025: $432.7M Q4 2025 Q1 2026: $396.8M Q1 2026 Q2 2026: $406.7M $406.7M Q2 2026

Holdings 85 stocks · $406.7M
ZTO Zto Express Cayman Inc.-ADR 10.97% 1,994,127 $44.6M No change
MU Micron Technology Inc. 5.05% 17,782 $20.5M Reduce -24.8%
LRCX Lam Research Corp. 4.95% 46,439 $20.1M No change
TCOM Trip.com Group Ltd.-ADR 3.45% 351,921 $14.0M Reduce -7.3%
DDL Dingdong Cayman Ltd. -SPN ADR 3.08% 6,486,507 $12.5M No change
NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD 2.44% 993,612 $9.9M No change
AVGO Broadcom Inc. 2.43% 26,186 $9.9M No change
BIRK Birkenstock Holding PLC 2.22% 210,000 $9.0M Reduce -23.6%
AZN Astrazeneca PLC 2.21% 48,088 $9.0M No change
GOOG Alphabet Inc. Class C 2.14% 24,592 $8.7M No change
MRK Merck & Co. Inc. 2.00% 63,316 $8.1M No change
APGE Apogee Therapeutics Inc. 1.90% 58,314 $7.7M No change
ABBV Abbvie Inc. 1.86% 30,102 $7.6M No change
JNJ Johnson & Johnson 1.74% 27,830 $7.1M No change
YUM Yum! Brands Inc. 1.57% 39,847 $6.4M No change
PDD PDD Holdings Inc. 1.47% 78,445 $6.0M No change
COGT Cogent Biosciences Inc. 1.47% 154,220 $6.0M Add +37.6%
UBS UBS Group AG-Reg 1.43% 117,507 $5.8M No change
NVDA Nvidia Corp. 1.39% 28,191 $5.6M No change
IMVT Immunovant Inc. 1.37% 144,671 $5.6M Reduce -20.4%
ARWR Arrowhead Pharmaceuticals Inc. 1.30% 64,752 $5.3M No change
IDYA Ideaya Biosciences Inc. 1.27% 138,708 $5.2M Add +51.4%
IQV Iqvia Holdings Inc. 1.27% 26,708 $5.2M No change
HTHT H World Group Ltd.-ADR 1.21% 117,996 $4.9M No change
VERA Vera Therapeutics Inc. 1.20% 113,687 $4.9M No change
GPCR Structure Therapeutics Inc. 1.19% 90,363 $4.8M Add +35.1%
V Visa Inc. Class A 1.18% 14,000 $4.8M Reduce -6.7%
CAT Caterpillar Inc. 1.18% 4,500 $4.8M Reduce -47.1%
RCI Rogers Communications Inc. Class B 1.18% 147,160 $4.8M No change
AS Amer Sports Inc. 1.16% 140,000 $4.7M Reduce -6.7%
KR Kroger Co. 1.11% 81,305 $4.5M Add +33.9%
KLAC KLA Corp. 1.08% 14,580 $4.4M No change
CCJ Cameco Corp. 1.06% 42,356 $4.3M No change
AMD Advanced Micro Devices 1.03% 7,210 $4.2M No change
RCUS Arcus Biosciences Inc. 1.02% 134,217 $4.1M No change
ADBE Adobe Inc. 0.94% 18,571 $3.8M No change
FND Floor & Decor Holdings Inc. Class A 0.91% 62,500 $3.7M Reduce -7.4%
META Meta Platforms Inc. Class A 0.90% 6,500 $3.7M Add +30.0%
PALI Palisade Bio Inc. 0.89% 1,730,866 $3.6M Add +40.6%
BROS Dutch Bros Inc. Class A 0.88% 50,000 $3.6M Reduce -4.8%
FICO Fair Isaac Corp. 0.88% 3,000 $3.6M Reduce -11.8%
GEV GE Vernova Inc. 0.88% 3,047 $3.6M No change
HD Home Depot Inc. 0.87% 10,000 $3.5M Reduce -13.0%
VAL Valaris Ltd. 0.82% 45,956 $3.3M No change
ELF Elf Beauty Inc. 0.82% 45,000 $3.3M Reduce -37.9%
CAVA Cava Group Inc. 0.81% 42,000 $3.3M Reduce -6.7%
DFTX Definium Therapeutics Inc. 0.81% 70,000 $3.3M No change
ROIV Roivant Sciences Ltd. 0.80% 92,397 $3.3M No change
TRU Transunion 0.79% 44,595 $3.2M No change
RVMD Revolution Medicines Inc. 0.78% 16,994 $3.2M Reduce -18.4%
DDOG Datadog Inc. Class A 0.77% 12,000 $3.1M New
BBIO Bridgebio Pharma Inc. 0.73% 39,742 $3.0M Reduce -19.3%
WING Wingstop Inc. 0.72% 17,000 $2.9M Add +41.7%
ICE Intercontinental Exchange Inc. 0.72% 23,913 $2.9M No change
ECHO Echostar Corp. Class A 0.69% 27,509 $2.8M Add +119.9%
VRT Vertiv Holdings Co. Class A 0.68% 8,286 $2.8M Reduce -18.2%
ABSI Absci Corp. 0.68% 237,764 $2.8M No change
ZYME Zymeworks Inc. 0.68% 105,184 $2.7M No change
MSI Motorola Solutions Inc. 0.64% 6,302 $2.6M No change
MBX MBX Biosciences Inc. 0.59% 43,597 $2.4M No change
BKNG Booking Holdings Inc. 0.55% 12,500 $2.2M No change
ADI Analog Devices Inc. 0.54% 5,485 $2.2M New
PRQR Proqr Therapeutics NV 0.53% 1,159,428 $2.2M Reduce -6.2%
NFLX Netflix Inc. 0.53% 30,000 $2.1M Reduce -40.0%
NOW ServiceNow Inc. 0.49% 20,000 $2.0M New
DASH DoorDash Inc. Class A 0.45% 10,000 $1.8M New
CCCC C4 Therapeutics Inc. 0.44% 384,766 $1.8M No change
PANW Palo Alto Networks Inc. 0.40% 4,766 $1.6M New
WVE Wave Life Sciences Ltd. 0.39% 275,269 $1.6M No change
IDXX Idexx Laboratories Inc. 0.38% 2,900 $1.5M Reduce -3.3%
DRUG Bright Minds Biosciences Inc. 0.33% 19,127 $1.3M No change
STOK Stoke Therapeutics Inc. 0.33% 40,815 $1.3M No change
MPTI M-Tron Industries Inc. 0.31% 12,839 $1.3M New
CSGP Costar Group Inc. 0.28% 40,000 $1.1M Reduce -48.4%
ATEN A10 Networks Inc. 0.26% 28,630 $1.1M New
XYZ Block Inc. 0.23% 12,500 $950K New
AURA Aura Biosciences Inc. 0.20% 111,865 $794K No change
JD Jd.com Inc.-ADR 0.18% 28,650 $730K No change
ZTS Zoetis Inc. 0.18% 10,000 $719K Reduce -76.2%
SPGI S&P Global Inc. 0.17% 1,685 $686K New
ADCT Adc Therapeutics SA 0.15% 581,609 $622K Reduce -41.3%
CDXS Codexis Inc. 0.15% 264,464 $598K No change
INBX Inhibrx Biosciences Inc. 0.14% 6,146 $582K New
BABA Alibaba Group Holding-SP ADR 0.10% 4,283 $411K No change
SKYE Skye Bioscience Inc. 0.04% 233,095 $162K No change

Portfolio Sells Q1 2026 → Q2 2026
TERN Terns Pharmaceuticals Inc. Sold out 0.00% −1.47
CNTA Centessa Pharmaceuticals Ltd. Sold out 0.00% −1.38
TCOM Trip.com Group Ltd.-ADR Reduce -7.3% 3.45% −1.32
ZTS Zoetis Inc. Reduce -76.2% 0.18% −1.07
GOOGL Alphabet Inc. Class A Sold out 0.00% −0.87
ADCT Adc Therapeutics SA Reduce -41.3% 0.15% −0.78
MA Mastercard Inc. Class A Sold out 0.00% −0.72
NFLX Netflix Inc. Reduce -40.0% 0.53% −0.69
ISRG Intuitive Surgical Inc. Sold out 0.00% −0.56
CSGP Costar Group Inc. Reduce -48.4% 0.28% −0.51
VEEV Veeva Systems Inc. Class A Sold out 0.00% −0.49
MSFT Microsoft Corp. Sold out 0.00% −0.39
CAT Caterpillar Inc. Reduce -47.1% 1.18% −0.34
APH Amphenol Corp. Class A Sold out 0.00% −0.30
ELF Elf Beauty Inc. Reduce -37.9% 0.82% −0.29
BSX Boston Scientific Corp. Sold out 0.00% −0.28
BIRK Birkenstock Holding PLC Reduce -23.6% 2.22% −0.26
GSAT Globalstar Inc. Sold out 0.00% −0.24
BCYC Bicycle Therapeutics PLC-ADR Sold out 0.00% −0.22
MGTX Meiragtx Holdings PLC Sold out 0.00% −0.20
MOD Modine Manufacturing Co. Sold out 0.00% −0.20
BBIO Bridgebio Pharma Inc. Reduce -19.3% 0.73% −0.19
ARVN Arvinas Inc. Sold out 0.00% −0.19
CAVA Cava Group Inc. Reduce -6.7% 0.81% −0.11
HD Home Depot Inc. Reduce -13.0% 0.87% −0.09
AS Amer Sports Inc. Reduce -6.7% 1.16% −0.08
IDXX Idexx Laboratories Inc. Reduce -3.3% 0.38% −0.05
FICO Fair Isaac Corp. Reduce -11.8% 0.88% −0.03
PRQR Proqr Therapeutics NV Reduce -6.2% 0.53% +0.03
V Visa Inc. Class A Reduce -6.7% 1.18% +0.04
VRT Vertiv Holdings Co. Class A Reduce -18.2% 0.68% +0.04
FND Floor & Decor Holdings Inc. Class A Reduce -7.4% 0.91% +0.05
BROS Dutch Bros Inc. Class A Reduce -4.8% 0.88% +0.21
IMVT Immunovant Inc. Reduce -20.4% 1.37% +0.23
RVMD Revolution Medicines Inc. Reduce -18.4% 0.78% +0.27
MU Micron Technology Inc. Reduce -24.8% 5.05% +3.03

Portfolio Buys Q1 2026 → Q2 2026
DDOG Datadog Inc. Class A New 0.77% +0.77
ADI Analog Devices Inc. New 0.54% +0.54
IDYA Ideaya Biosciences Inc. Add +51.4% 1.27% +0.50
NOW ServiceNow Inc. New 0.49% +0.49
DASH DoorDash Inc. Class A New 0.45% +0.45
PANW Palo Alto Networks Inc. New 0.40% +0.40
COGT Cogent Biosciences Inc. Add +37.6% 1.47% +0.38
GPCR Structure Therapeutics Inc. Add +35.1% 1.19% +0.38
PALI Palisade Bio Inc. Add +40.6% 0.89% +0.35
ECHO Echostar Corp. Class A Add +119.9% 0.69% +0.32
MPTI M-Tron Industries Inc. New 0.31% +0.31
ATEN A10 Networks Inc. New 0.26% +0.26
WING Wingstop Inc. Add +41.7% 0.72% +0.26
XYZ Block Inc. New 0.23% +0.23
META Meta Platforms Inc. Class A Add +30.0% 0.90% +0.18
SPGI S&P Global Inc. New 0.17% +0.17
INBX Inhibrx Biosciences Inc. New 0.14% +0.14
KR Kroger Co. Add +33.9% 1.11% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 85$406.7MZTO, MU, LRCX, TCOM, DDL
Q1 2026 89$396.8MZTO, TCOM, DDL, LRCX, BIRK
Q4 2025 124$432.7MZTO, TCOM, DDL, GOOG, AVGO
Q3 2025 120$1.5BICE, GOOGL, ABBV, JNJ, MRK
Q2 2025 115$1.5BGOOGL, UBS, AVGO, RCI, CCJ
Q1 2025 115$1.7BZTO, TRU, UBS, GOOGL, MRK
Q4 2024 115$1.7BZTO, TRU, GOOGL, ICE, AVGO
Q3 2024 122$2.2BZTO, TRU, ICE, PDD, CCJ
Q2 2024 134$2.5BZTO, AVGO, MU, GOOGL, CCJ
Q1 2024 139$2.5BZTO, MU, ICE, TRU, AVGO