Platinum Investment Management Ltd.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 11, 2025), Platinum Investment Management Ltd. reported 115 stock positions worth $1.7 billion. Its top holding was Zto Express Cayman Inc.-ADR (ZTO) at 13.8% of the portfolio, followed by Transunion (TRU, 9.4%) and Alphabet Class A (GOOGL, 8.3%). Compared with Q3 2024, it opened 17 new positions, sold out of 24, added to 28 and reduced 53. The biggest buy was Broadcom (AVGO, shares +36%) and the biggest sale PDD (PDD, shares −54%).
- Most Recent 13F
- Q2 2026
- Location
- SYDNEY AUSTRALIA 2000, C3
- CIK
- 0001256071
- Portfolio Value
- $1.7B (Q4 2024)
- SEC Filing
- 0001085146-25-000949 ↗ filed Feb 11, 2025
Holdings Value
Holdings 115 stocks · $1.7B
| ZTO Zto Express Cayman Inc.-ADR | 13.83% | 12,046,482 | $235.5M | Reduce -22.6% |
| TRU Transunion | 9.38% | 1,722,276 | $159.7M | Reduce -8.8% |
| GOOGL Alphabet Inc. Class A | 8.30% | 746,079 | $141.2M | Add +16.3% |
| ICE Intercontinental Exchange Inc. | 7.33% | 837,424 | $124.8M | Reduce -13.0% |
| AVGO Broadcom Inc. | 7.18% | 527,301 | $122.2M | Add +36.0% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 4.75% | 2,108,295 | $80.8M | Add +18.1% |
| GOOG Alphabet Inc. Class C | 4.25% | 380,015 | $72.4M | Add +32.8% |
| NICE Nice Ltd. - Spon ADR | 4.04% | 405,309 | $68.8M | Add +40.9% |
| LW Lamb Weston Holdings Inc. | 3.93% | 1,002,213 | $67.0M | Reduce -6.1% |
| CCJ Cameco Corp. | 3.15% | 1,042,725 | $53.6M | Reduce -64.3% |
| PDD PDD Holdings Inc. | 2.87% | 504,465 | $48.9M | Reduce -53.8% |
| TCOM Trip.com Group Ltd.-ADR | 2.73% | 677,282 | $46.5M | Reduce -53.4% |
| BAX Baxter International Inc. | 2.58% | 1,508,749 | $44.0M | Reduce -4.9% |
| MU Micron Technology Inc. | 2.41% | 488,149 | $41.1M | Reduce -7.2% |
| VAL Valaris Ltd. | 2.12% | 814,110 | $36.0M | Reduce -5.0% |
| PBR Petroleo Brasileiro-Spon ADR | 1.64% | 2,175,491 | $28.0M | Reduce -5.2% |
| DDL Dingdong Cayman Ltd. -SPN ADR | 1.57% | 8,125,973 | $26.7M | Reduce -5.0% |
| SWKS Skyworks Solutions Inc. | 1.35% | 259,769 | $23.0M | Reduce -51.8% |
| NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD | 1.34% | 1,952,751 | $22.9M | Reduce -4.1% |
| STNG Scorpio Tankers Inc. | 1.17% | 402,043 | $20.0M | Reduce -9.7% |
| JD Jd.com Inc.-ADR | 0.93% | 457,865 | $15.9M | Reduce -8.5% |
| AMZN Amazon.com Inc. | 0.77% | 59,770 | $13.1M | Reduce -7.1% |
| META Meta Platforms Inc. Class A | 0.67% | 19,463 | $11.4M | Reduce -11.4% |
| FLUT Flutter Entertainment PLC-Di | 0.61% | 40,000 | $10.4M | Reduce -21.6% |
| V Visa Inc. Class A | 0.56% | 30,048 | $9.5M | Reduce -15.1% |
| HTHT H World Group Ltd.-ADR | 0.48% | 248,238 | $8.2M | Reduce -13.3% |
| AS Amer Sports Inc. | 0.41% | 250,000 | $7.0M | Reduce -16.7% |
| ZTS Zoetis Inc. | 0.38% | 40,000 | $6.5M | No change |
| ROIV Roivant Sciences Ltd. | 0.37% | 528,031 | $6.2M | No change |
| CNTA Centessa Pharmaceuticals Ltd. | 0.36% | 370,278 | $6.2M | Reduce -13.8% |
| JNJ Johnson & Johnson | 0.31% | 35,942 | $5.2M | No change |
| PYPL PayPal Holdings Inc. | 0.30% | 60,000 | $5.1M | Add +4466.2% |
| BIRK Birkenstock Holding PLC | 0.30% | 90,000 | $5.1M | No change |
| VERA Vera Therapeutics Inc. | 0.30% | 119,664 | $5.1M | Reduce -12.9% |
| IMVT Immunovant Inc. | 0.29% | 202,323 | $5.0M | Add +5.2% |
| CSGP Costar Group Inc. | 0.29% | 70,000 | $5.0M | Add +40.0% |
| RXRX Recursion Pharmaceuticals-A | 0.29% | 733,011 | $5.0M | Add +293.9% |
| ELF Elf Beauty Inc. | 0.28% | 37,300 | $4.7M | New |
| ZYME Zymeworks Inc. | 0.26% | 306,460 | $4.5M | Reduce -6.4% |
| AAPL Apple Inc. | 0.26% | 17,500 | $4.4M | Reduce -12.5% |
| APGE Apogee Therapeutics Inc. | 0.25% | 95,646 | $4.3M | Reduce -11.2% |
| BCYC Bicycle Therapeutics PLC-ADR | 0.25% | 309,059 | $4.3M | Add +13.6% |
| PRQR Proqr Therapeutics NV | 0.24% | 1,538,247 | $4.1M | New |
| IDYA Ideaya Biosciences Inc. | 0.23% | 152,713 | $3.9M | Add +5.5% |
| WVE Wave Life Sciences Ltd. | 0.23% | 311,992 | $3.9M | Reduce -32.4% |
| MSFT Microsoft Corp. | 0.22% | 8,989 | $3.8M | No change |
| VEEV Veeva Systems Inc. Class A | 0.21% | 17,119 | $3.6M | No change |
| NFLX Netflix Inc. | 0.19% | 3,618 | $3.2M | Reduce -18.2% |
| ADCT Adc Therapeutics SA | 0.19% | 1,612,556 | $3.2M | Add +11.6% |
| MBX MBX Biosciences Inc. | 0.18% | 162,090 | $3.0M | Add +8.1% |
| TRMD Torm PLC-A | 0.17% | 152,439 | $2.9M | Add +92.5% |
| MRUS Merus NV | 0.17% | 69,085 | $2.9M | No change |
| GOSS Gossamer Bio Inc. | 0.17% | 3,180,295 | $2.9M | Reduce -9.8% |
| MA Mastercard Inc. Class A | 0.17% | 5,425 | $2.9M | New |
| QTRX Quanterix Corp. | 0.16% | 260,181 | $2.8M | Reduce -6.3% |
| ACIU Ac Immune SA | 0.15% | 952,069 | $2.6M | No change |
| BABA Alibaba Group Holding-SP ADR | 0.14% | 28,845 | $2.4M | Reduce -86.0% |
| RCUS Arcus Biosciences Inc. | 0.13% | 153,783 | $2.3M | No change |
| IMTX Immatics NV | 0.13% | 311,722 | $2.2M | Add +53.1% |
| TXN Texas Instruments Inc. | 0.12% | 10,993 | $2.1M | Reduce -10.6% |
| GPCR Structure Therapeutics Inc. | 0.12% | 74,900 | $2.0M | Add +30.9% |
| ESPR Esperion Therapeutics Inc. | 0.11% | 840,052 | $1.8M | Reduce -23.1% |
| SWTX Springworks Therapeutics Inc. | 0.10% | 46,895 | $1.7M | New |
| ARWR Arrowhead Pharmaceuticals Inc. | 0.10% | 88,425 | $1.7M | No change |
| CDNS Cadence Design SYS Inc. | 0.10% | 5,448 | $1.6M | Add +42.9% |
| SNPS Synopsys Inc. | 0.09% | 3,317 | $1.6M | Add +39.8% |
| PTC PTC Inc. | 0.09% | 8,455 | $1.6M | New |
| MGTX Meiragtx Holdings PLC | 0.09% | 250,000 | $1.5M | No change |
| ABSI Absci Corp. | 0.08% | 551,188 | $1.4M | Add +20.5% |
| AURA Aura Biosciences Inc. | 0.08% | 162,358 | $1.3M | No change |
| ADSK Autodesk Inc. | 0.08% | 4,336 | $1.3M | Add +153.9% |
| LRCX Lam Research Corp. | 0.07% | 17,086 | $1.2M | Reduce -37.3% |
| COGT Cogent Biosciences Inc. | 0.07% | 157,851 | $1.2M | No change |
| SKYE Skye Bioscience Inc. | 0.07% | 434,046 | $1.2M | Reduce -10.5% |
| AMAT Applied Materials Inc. | 0.07% | 7,536 | $1.2M | Reduce -33.1% |
| BKNG Booking Holdings Inc. | 0.06% | 200 | $994K | Reduce -80.0% |
| ALLK Allakos LLC | 0.06% | 815,956 | $987K | Reduce -23.0% |
| CDXS Codexis Inc. | 0.06% | 200,063 | $954K | No change |
| UBER Uber Technologies Inc. | 0.06% | 15,563 | $939K | New |
| CPNG Coupang Inc. | 0.05% | 36,111 | $794K | New |
| ISRG Intuitive Surgical Inc. | 0.04% | 1,455 | $759K | No change |
| KURA Kura Oncology Inc. | 0.04% | 76,533 | $667K | Add +82.8% |
| APH Amphenol Corp. Class A | 0.03% | 8,474 | $589K | New |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.03% | 3,745 | $440K | New |
| ANSS Ansys Inc. | 0.02% | 1,182 | $399K | Reduce -54.9% |
| INTC Intel Corp. | 0.02% | 13,171 | $264K | Reduce -2.0% |
| NVDA Nvidia Corp. | 0.01% | 1,582 | $212K | Add +109.3% |
| LBRDK Liberty Broadband-C | 0.01% | 1,747 | $131K | Reduce -22.5% |
| SRE Sempra | 0.01% | 1,476 | $129K | Reduce -11.4% |
| NE Noble Corp. PLC | 0.01% | 2,862 | $90K | Add +5.9% |
| CVS CVS Health Corp. | 0.01% | 1,980 | $89K | New |
| WHR Whirlpool Corp. | 0.01% | 776 | $89K | Reduce -19.9% |
| FLG Flagstar Bank NA | 0.01% | 9,510 | $89K | Add +14.1% |
| JAZZ Jazz Pharmaceuticals PLC | 0.01% | 720 | $89K | Reduce -9.0% |
| CLB Core Laboratories Inc. | 0.01% | 5,098 | $88K | Reduce -5.9% |
| HCA HCA Healthcare Inc. | 0.01% | 292 | $88K | New |
| UHS Universal Health Services-B | 0.01% | 488 | $88K | Add +17.6% |
| TSN Tyson Foods Inc. Class A | 0.01% | 1,523 | $87K | Reduce -4.3% |
| BWA Borgwarner Inc. | 0.01% | 2,750 | $87K | New |
| CI The Cigna Group | 0.01% | 316 | $87K | Add +15.8% |
Portfolio Sells Q3 2024 → Q4 2024
| PDD PDD Holdings Inc. | Reduce -53.8% | 2.87% | −3.79 |
| ZTO Zto Express Cayman Inc.-ADR | Reduce -22.6% | 13.83% | −3.61 |
| CCJ Cameco Corp. | Reduce -64.3% | 3.15% | −3.17 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −2.61 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -53.4% | 2.73% | −1.18 |
| SWKS Skyworks Solutions Inc. | Reduce -51.8% | 1.35% | −1.06 |
| BABA Alibaba Group Holding-SP ADR | Reduce -86.0% | 0.14% | −0.85 |
| EXAI Exscientia Ltd. | Sold out | 0.00% | −0.32 |
| STNG Scorpio Tankers Inc. | Reduce -9.7% | 1.17% | −0.26 |
| LBPH Longboard Pharmaceuticals Inc. | Sold out | 0.00% | −0.16 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.16 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.15 |
| BAX Baxter International Inc. | Reduce -4.9% | 2.58% | −0.14 |
| QTTB Q32 Bio Inc. | Sold out | 0.00% | −0.13 |
| BKNG Booking Holdings Inc. | Reduce -80.0% | 0.06% | −0.13 |
| ANAB Anaptysbio Inc. | Sold out | 0.00% | −0.11 |
| ADI Analog Devices Inc. | Sold out | 0.00% | −0.09 |
| MBLY Mobileye Global Inc. Class A | Sold out | 0.00% | −0.07 |
| MU Micron Technology Inc. | Reduce -7.2% | 2.41% | −0.06 |
| KROS Keros Therapeutics Inc. | Sold out | 0.00% | −0.05 |
| FDMT 4D Molecular Therapeutics Inc. | Sold out | 0.00% | −0.05 |
| BIOA Bioage Labs Inc. | Sold out | 0.00% | −0.05 |
| VAL Valaris Ltd. | Reduce -5.0% | 2.12% | −0.05 |
| SRPT Sarepta Therapeutics Inc. | Sold out | 0.00% | −0.05 |
| MASS 908 Devices Inc. | Sold out | 0.00% | −0.04 |
| NXPI NXP Semiconductors NV | Sold out | 0.00% | −0.04 |
| APGE Apogee Therapeutics Inc. | Reduce -11.2% | 0.25% | −0.03 |
| AMAT Applied Materials Inc. | Reduce -33.1% | 0.07% | −0.03 |
| LRCX Lam Research Corp. | Reduce -37.3% | 0.07% | −0.03 |
| MANH Manhattan Associates Inc. | Sold out | 0.00% | −0.02 |
| OMGAQ Omega Therapeutics Inc. | Sold out | 0.00% | −0.02 |
| ANSS Ansys Inc. | Reduce -54.9% | 0.02% | −0.01 |
| SKYE Skye Bioscience Inc. | Reduce -10.5% | 0.07% | −0.01 |
| ALSN Allison Transmission Holding | Sold out | 0.00% | −0.00 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.00 |
| HBI Hanesbrands Inc. | Sold out | 0.00% | −0.00 |
| CRC California Resources Corp. | Sold out | 0.00% | −0.00 |
| CTSH Cognizant Tech Solutions-A | Sold out | 0.00% | −0.00 |
| T AT&T Inc. | Sold out | 0.00% | −0.00 |
| FOXA Fox Corp. Class A | Sold out | 0.00% | −0.00 |
| LU Lufax Holding Ltd.-ADR | Reduce -13.1% | 0.00% | −0.00 |
| QTRX Quanterix Corp. | Reduce -6.3% | 0.16% | −0.00 |
| HTHT H World Group Ltd.-ADR | Reduce -13.3% | 0.48% | −0.00 |
| LBRDK Liberty Broadband-C | Reduce -22.5% | 0.01% | −0.00 |
| CORT Corcept Therapeutics Inc. | Reduce -30.5% | 0.00% | 0.00 |
| MOMO Hello Group Inc. -SPN ADR | Reduce -14.2% | 0.00% | +0.00 |
| JXN Jackson Financial Inc. Class A | Reduce -9.6% | 0.00% | +0.00 |
| WBD Warner Bros Discovery Inc. | Reduce -23.7% | 0.00% | +0.00 |
| WHR Whirlpool Corp. | Reduce -19.9% | 0.01% | +0.00 |
| CLB Core Laboratories Inc. | Reduce -5.9% | 0.01% | +0.00 |
Portfolio Buys Q3 2024 → Q4 2024
| AVGO Broadcom Inc. | Add +36.0% | 7.18% | +4.15 |
| GOOGL Alphabet Inc. Class A | Add +16.3% | 8.30% | +3.48 |
| GOOG Alphabet Inc. Class C | Add +32.8% | 4.25% | +2.09 |
| NICE Nice Ltd. - Spon ADR | Add +40.9% | 4.04% | +1.78 |
| SLB SLB Ltd. | Add +18.1% | 4.75% | +1.36 |
| PYPL PayPal Holdings Inc. | Add +4466.2% | 0.30% | +0.30 |
| ELF Elf Beauty Inc. | New | 0.28% | +0.28 |
| PRQR Proqr Therapeutics NV | New | 0.24% | +0.24 |
| RXRX Recursion Pharmaceuticals-A | Add +293.9% | 0.29% | +0.24 |
| MA Mastercard Inc. Class A | New | 0.17% | +0.17 |
| CSGP Costar Group Inc. | Add +40.0% | 0.29% | +0.12 |
| SWTX Springworks Therapeutics Inc. | New | 0.10% | +0.10 |
| PTC PTC Inc. | New | 0.09% | +0.09 |
| UBER Uber Technologies Inc. | New | 0.06% | +0.06 |
| ADSK Autodesk Inc. | Add +153.9% | 0.08% | +0.05 |
| TRMD Torm PLC-A | Add +92.5% | 0.17% | +0.05 |
| CDNS Cadence Design SYS Inc. | Add +42.9% | 0.10% | +0.05 |
| CPNG Coupang Inc. | New | 0.05% | +0.05 |
| IMVT Immunovant Inc. | Add +5.2% | 0.29% | +0.05 |
| SNPS Synopsys Inc. | Add +39.8% | 0.09% | +0.04 |
| APH Amphenol Corp. Class A | New | 0.03% | +0.03 |
| TTD Trade Desk Inc./the Class A | New | 0.03% | +0.03 |
| IMTX Immatics NV | Add +53.1% | 0.13% | +0.03 |
| IDYA Ideaya Biosciences Inc. | Add +5.5% | 0.23% | +0.02 |
| NVDA Nvidia Corp. | Add +109.3% | 0.01% | +0.01 |
| ABSI Absci Corp. | Add +20.5% | 0.08% | +0.01 |
| GPCR Structure Therapeutics Inc. | Add +30.9% | 0.12% | +0.01 |
| CVS CVS Health Corp. | New | 0.01% | +0.01 |
| BWA Borgwarner Inc. | New | 0.01% | +0.01 |
| DG Dollar General Corp. | New | 0.01% | +0.01 |
| FUTU Futu Holdings Ltd.-ADR | New | 0.01% | +0.01 |
| HCA HCA Healthcare Inc. | New | 0.01% | +0.01 |
| EC Ecopetrol SA-Sponsored ADR | New | 0.00% | +0.00 |
| GL Globe Life Inc. | New | 0.00% | +0.00 |
| SMCI Super Micro Computer Inc. | New | 0.00% | +0.00 |
| KURA Kura Oncology Inc. | Add +82.8% | 0.04% | +0.00 |
| FLG Flagstar Bank NA | Add +14.1% | 0.01% | +0.00 |
| HLF Herbalife Ltd. | Add +4.3% | 0.01% | +0.00 |
| NE Noble Corp. PLC | Add +5.9% | 0.01% | +0.00 |
| CI The Cigna Group | Add +15.8% | 0.01% | +0.00 |
| UHS Universal Health Services-B | Add +17.6% | 0.01% | +0.00 |
| KSS Kohls Corp. | Add +30.7% | 0.01% | +0.00 |
| MBX MBX Biosciences Inc. | Add +8.1% | 0.18% | −0.00 |
| ADCT Adc Therapeutics SA | Add +11.6% | 0.19% | −0.02 |
| BCYC Bicycle Therapeutics PLC-ADR | Add +13.6% | 0.25% | −0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 85 | $406.7M | ZTO, MU, LRCX, TCOM, DDL |
| Q1 2026 | 89 | $396.8M | ZTO, TCOM, DDL, LRCX, BIRK |
| Q4 2025 | 124 | $432.7M | ZTO, TCOM, DDL, GOOG, AVGO |
| Q3 2025 | 120 | $1.5B | ICE, GOOGL, ABBV, JNJ, MRK |
| Q2 2025 | 115 | $1.5B | GOOGL, UBS, AVGO, RCI, CCJ |
| Q1 2025 | 115 | $1.7B | ZTO, TRU, UBS, GOOGL, MRK |
| Q4 2024 | 115 | $1.7B | ZTO, TRU, GOOGL, ICE, AVGO |
| Q3 2024 | 122 | $2.2B | ZTO, TRU, ICE, PDD, CCJ |
| Q2 2024 | 134 | $2.5B | ZTO, AVGO, MU, GOOGL, CCJ |
| Q1 2024 | 139 | $2.5B | ZTO, MU, ICE, TRU, AVGO |