Platinum Investment Management Ltd.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 21, 2025), Platinum Investment Management Ltd. reported 115 stock positions worth $1.5 billion. Its top holding was Alphabet Class A (GOOGL) at 7.2% of the portfolio, followed by UBS Group AG-Reg (UBS, 6.2%) and Broadcom (AVGO, 5.2%). Compared with Q1 2025, it opened 16 new positions, sold out of 16, added to 28 and reduced 47. The biggest buy was a new position in Rogers Communications Class B (RCI) and the biggest sale Zto Express Cayman Inc.-ADR (ZTO, shares −75%).
- Most Recent 13F
- Q2 2026
- Location
- SYDNEY AUSTRALIA 2000, C3
- CIK
- 0001256071
- Portfolio Value
- $1.5B (Q2 2025)
- SEC Filing
- 0001085146-25-003979 ↗ filed Jul 21, 2025
Holdings Value
Holdings 115 stocks · $1.5B
| GOOGL Alphabet Inc. Class A | 7.23% | 617,233 | $108.8M | Reduce -16.7% |
| UBS UBS Group AG-Reg | 6.23% | 2,778,489 | $93.7M | Reduce -35.9% |
| AVGO Broadcom Inc. | 5.19% | 283,133 | $78.0M | Reduce -46.1% |
| RCI Rogers Communications Inc. Class B | 5.17% | 2,624,304 | $77.7M | New |
| CCJ Cameco Corp. | 4.95% | 1,002,144 | $74.4M | Reduce -49.3% |
| LRCX Lam Research Corp. | 4.75% | 733,193 | $71.4M | Reduce -35.9% |
| ADBE Adobe Inc. | 4.65% | 180,691 | $69.9M | Add +6425.5% |
| MRK Merck & Co. Inc. | 4.61% | 875,820 | $69.3M | Reduce -15.4% |
| MU Micron Technology Inc. | 4.59% | 560,437 | $69.1M | Reduce -40.2% |
| ABBV Abbvie Inc. | 4.51% | 365,440 | $67.8M | Reduce -12.7% |
| JNJ Johnson & Johnson | 4.46% | 439,508 | $67.1M | Add +1122.8% |
| YUM Yum! Brands Inc. | 4.28% | 434,284 | $64.4M | New |
| ICE Intercontinental Exchange Inc. | 4.24% | 347,080 | $63.7M | Reduce -25.1% |
| TRU Transunion | 4.18% | 713,760 | $62.8M | Reduce -58.3% |
| IQV Iqvia Holdings Inc. | 4.10% | 390,795 | $61.6M | New |
| VAL Valaris Ltd. | 3.22% | 1,149,538 | $48.4M | Reduce -49.0% |
| ZTO Zto Express Cayman Inc.-ADR | 2.99% | 2,529,610 | $44.9M | Reduce -75.3% |
| GOOG Alphabet Inc. Class C | 2.22% | 187,953 | $33.3M | Reduce -48.2% |
| TCOM Trip.com Group Ltd.-ADR | 2.06% | 526,979 | $30.9M | Reduce -22.2% |
| NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD | 1.11% | 1,393,053 | $16.6M | Reduce -24.7% |
| DDL Dingdong Cayman Ltd. -SPN ADR | 0.90% | 6,677,746 | $13.5M | Reduce -17.8% |
| FLUT Flutter Entertainment PLC-Di | 0.76% | 40,000 | $11.4M | Add +5.3% |
| META Meta Platforms Inc. Class A | 0.75% | 15,272 | $11.3M | Add +5.0% |
| AMZN Amazon.com Inc. | 0.72% | 49,232 | $10.8M | Reduce -10.1% |
| UBER Uber Technologies Inc. | 0.64% | 103,265 | $9.6M | Add +7.7% |
| PDD PDD Holdings Inc. | 0.62% | 88,509 | $9.3M | Reduce -19.7% |
| V Visa Inc. Class A | 0.60% | 25,209 | $9.0M | Reduce -4.2% |
| AS Amer Sports Inc. | 0.49% | 190,000 | $7.4M | Reduce -5.0% |
| ZTS Zoetis Inc. | 0.41% | 40,000 | $6.2M | No change |
| HTHT H World Group Ltd.-ADR | 0.41% | 183,111 | $6.2M | Reduce -26.2% |
| BIRK Birkenstock Holding PLC | 0.39% | 120,000 | $5.9M | No change |
| XYZ Block Inc. | 0.36% | 80,000 | $5.4M | Reduce -22.3% |
| ROIV Roivant Sciences Ltd. | 0.36% | 481,335 | $5.4M | Reduce -2.9% |
| CSGP Costar Group Inc. | 0.35% | 65,000 | $5.2M | No change |
| ELF Elf Beauty Inc. | 0.33% | 40,000 | $5.0M | No change |
| MSFT Microsoft Corp. | 0.31% | 9,340 | $4.6M | No change |
| NVDA Nvidia Corp. | 0.31% | 29,399 | $4.6M | Add +20.1% |
| NFLX Netflix Inc. | 0.28% | 3,152 | $4.2M | Reduce -12.9% |
| CNTA Centessa Pharmaceuticals Ltd. | 0.25% | 290,836 | $3.8M | Add +8.6% |
| VERA Vera Therapeutics Inc. | 0.25% | 159,751 | $3.8M | Add +14.7% |
| APGE Apogee Therapeutics Inc. | 0.25% | 86,512 | $3.8M | Reduce -9.6% |
| ADCT Adc Therapeutics SA | 0.25% | 1,387,265 | $3.7M | Reduce -31.9% |
| VEEV Veeva Systems Inc. Class A | 0.24% | 12,646 | $3.6M | Reduce -23.4% |
| IDYA Ideaya Biosciences Inc. | 0.23% | 166,917 | $3.5M | Add +9.3% |
| BBIO Bridgebio Pharma Inc. | 0.22% | 75,708 | $3.3M | Add +7.6% |
| IMVT Immunovant Inc. | 0.21% | 195,727 | $3.1M | Add +24.7% |
| JD Jd.com Inc.-ADR | 0.20% | 92,596 | $3.0M | Reduce -78.4% |
| ZYME Zymeworks Inc. | 0.20% | 238,391 | $3.0M | Reduce -14.4% |
| PRQR Proqr Therapeutics NV | 0.20% | 1,450,969 | $3.0M | Reduce -5.7% |
| CDNS Cadence Design SYS Inc. | 0.17% | 8,297 | $2.6M | Add +30.9% |
| MRUS Merus NV | 0.16% | 44,940 | $2.4M | Reduce -30.7% |
| WVE Wave Life Sciences Ltd. | 0.15% | 355,353 | $2.3M | Add +13.9% |
| APH Amphenol Corp. Class A | 0.15% | 22,933 | $2.3M | Add +11.2% |
| MA Mastercard Inc. Class A | 0.14% | 3,714 | $2.1M | Reduce -29.0% |
| WING Wingstop Inc. | 0.13% | 6,000 | $2.0M | New |
| BCYC Bicycle Therapeutics PLC-ADR | 0.13% | 285,381 | $2.0M | Reduce -0.8% |
| IDXX Idexx Laboratories Inc. | 0.12% | 3,500 | $1.9M | New |
| ARWR Arrowhead Pharmaceuticals Inc. | 0.12% | 111,022 | $1.8M | Add +12.8% |
| SNPS Synopsys Inc. | 0.11% | 3,366 | $1.7M | Add +1.5% |
| GOSS Gossamer Bio Inc. | 0.11% | 1,383,863 | $1.7M | Reduce -20.1% |
| BABA Alibaba Group Holding-SP ADR | 0.11% | 14,412 | $1.6M | Reduce -55.4% |
| BNTX Biontech SE-ADR | 0.11% | 14,863 | $1.6M | New |
| COGT Cogent Biosciences Inc. | 0.10% | 219,504 | $1.6M | Add +63.9% |
| GPCR Structure Therapeutics Inc. | 0.10% | 74,900 | $1.6M | No change |
| VRNA Verona Pharma Ltd. | 0.10% | 15,146 | $1.4M | New |
| CPNG Coupang Inc. | 0.09% | 45,541 | $1.4M | No change |
| MGTX Meiragtx Holdings PLC | 0.09% | 208,308 | $1.4M | No change |
| TXN Texas Instruments Inc. | 0.09% | 6,289 | $1.3M | Add +177.1% |
| MBX MBX Biosciences Inc. | 0.09% | 112,743 | $1.3M | Reduce -39.4% |
| RCUS Arcus Biosciences Inc. | 0.08% | 153,783 | $1.3M | No change |
| SKYE Skye Bioscience Inc. | 0.08% | 293,320 | $1.2M | No change |
| VRT Vertiv Holdings Co. Class A | 0.08% | 9,539 | $1.2M | New |
| NOW ServiceNow Inc. | 0.08% | 1,149 | $1.2M | New |
| BKNG Booking Holdings Inc. | 0.08% | 200 | $1.2M | No change |
| KLAC KLA Corp. | 0.08% | 1,278 | $1.1M | New |
| PBR.A Petroleo Brasil-SP Pref ADR | 0.06% | 78,190 | $902K | Add +9.7% |
| ANET Arista Networks Inc. | 0.06% | 8,663 | $886K | Reduce -60.1% |
| ADI Analog Devices Inc. | 0.06% | 3,600 | $857K | Add +87.3% |
| AURA Aura Biosciences Inc. | 0.06% | 135,402 | $848K | Reduce -16.6% |
| INTC Intel Corp. | 0.05% | 35,768 | $801K | Add +0.4% |
| CDXS Codexis Inc. | 0.05% | 316,383 | $772K | No change |
| DRUG Bright Minds Biosciences Inc. | 0.05% | 28,308 | $739K | No change |
| MCHP Microchip Technology Inc. | 0.04% | 9,296 | $654K | New |
| ANSS Ansys Inc. | 0.03% | 1,182 | $415K | No change |
| LBRDK Liberty Broadband-C | 0.03% | 3,947 | $388K | Reduce -21.0% |
| BCC Boise Cascade Co. | 0.02% | 4,298 | $373K | New |
| RDDT Reddit Inc. Class A | 0.02% | 2,322 | $350K | Add +4.3% |
| WHR Whirlpool Corp. | 0.02% | 3,368 | $342K | Add +12.1% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 0.02% | 2,624 | $324K | Add +8.9% |
| CVS CVS Health Corp. | 0.02% | 4,291 | $296K | No change |
| OMF Onemain Holdings Inc. | 0.02% | 5,104 | $291K | Reduce -10.8% |
| NE Noble Corp. PLC | 0.02% | 10,878 | $289K | Reduce -11.3% |
| UNH Unitedhealth Group Inc. | 0.02% | 917 | $286K | New |
| RH RH | 0.02% | 1,481 | $280K | Add +19.6% |
| SRE Sempra | 0.02% | 3,673 | $278K | Reduce -11.7% |
| CI The Cigna Group | 0.02% | 810 | $268K | Reduce -10.2% |
| TGT Target Corp. | 0.02% | 2,704 | $267K | Add +9.3% |
| KSS Kohls Corp. | 0.02% | 31,136 | $264K | Reduce -12.1% |
| CLB Core Laboratories Inc. | 0.02% | 22,869 | $263K | Add +14.2% |
| TKR Timken Co. | 0.02% | 3,617 | $262K | New |
Portfolio Sells Q1 2025 → Q2 2025
| ZTO Zto Express Cayman Inc.-ADR | Reduce -75.3% | 2.99% | −8.78 |
| SLB SLB Ltd. | Sold out | 0.00% | −5.10 |
| TRU Transunion | Reduce -58.3% | 4.18% | −4.05 |
| VAL Valaris Ltd. | Reduce -49.0% | 3.22% | −1.90 |
| UBS UBS Group AG-Reg | Reduce -35.9% | 6.23% | −1.40 |
| GOOG Alphabet Inc. Class C | Reduce -48.2% | 2.22% | −1.07 |
| JD Jd.com Inc.-ADR | Reduce -78.4% | 0.20% | −0.82 |
| MRK Merck & Co. Inc. | Reduce -15.4% | 4.61% | −0.77 |
| ABBV Abbvie Inc. | Reduce -12.7% | 4.51% | −0.57 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -22.2% | 2.06% | −0.44 |
| ICE Intercontinental Exchange Inc. | Reduce -25.1% | 4.24% | −0.39 |
| DDL Dingdong Cayman Ltd. -SPN ADR | Reduce -17.8% | 0.90% | −0.37 |
| PDD PDD Holdings Inc. | Reduce -19.7% | 0.62% | −0.14 |
| BABA Alibaba Group Holding-SP ADR | Reduce -55.4% | 0.11% | −0.14 |
| MU Micron Technology Inc. | Reduce -40.2% | 4.59% | −0.12 |
| RXRX Recursion Pharmaceuticals-A | Sold out | 0.00% | −0.12 |
| HTHT H World Group Ltd.-ADR | Reduce -26.2% | 0.41% | −0.12 |
| SWTX Springworks Therapeutics Inc. | Sold out | 0.00% | −0.12 |
| PTC PTC Inc. | Sold out | 0.00% | −0.09 |
| IMTX Immatics NV | Sold out | 0.00% | −0.08 |
| ACIU Ac Immune SA | Sold out | 0.00% | −0.08 |
| TRMD Torm PLC-A | Sold out | 0.00% | −0.08 |
| LRCX Lam Research Corp. | Reduce -35.9% | 4.75% | −0.07 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −0.07 |
| ADSK Autodesk Inc. | Sold out | 0.00% | −0.07 |
| ANET Arista Networks Inc. | Reduce -60.1% | 0.06% | −0.04 |
| KURA Kura Oncology Inc. | Sold out | 0.00% | −0.03 |
| MA Mastercard Inc. Class A | Reduce -29.0% | 0.14% | −0.03 |
| DUOL Duolingo | Sold out | 0.00% | −0.02 |
| DG Dollar General Corp. | Sold out | 0.00% | −0.02 |
| FLG Flagstar Bank NA | Sold out | 0.00% | −0.02 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.02 |
| BWA Borgwarner Inc. | Sold out | 0.00% | −0.02 |
| BCYC Bicycle Therapeutics PLC-ADR | Reduce -0.8% | 0.13% | −0.01 |
| LU Lufax Holding Ltd.-ADR | Sold out | 0.00% | −0.01 |
| CORT Corcept Therapeutics Inc. | Reduce -24.2% | 0.01% | −0.01 |
| MRUS Merus NV | Reduce -30.7% | 0.16% | −0.00 |
| UHS Universal Health Services-B | Reduce -13.1% | 0.02% | −0.00 |
| CI The Cigna Group | Reduce -10.2% | 0.02% | +0.00 |
| KSS Kohls Corp. | Reduce -12.1% | 0.02% | +0.00 |
| AURA Aura Biosciences Inc. | Reduce -16.6% | 0.06% | +0.00 |
| LBRDK Liberty Broadband-C | Reduce -21.0% | 0.03% | +0.00 |
| SRE Sempra | Reduce -11.7% | 0.02% | +0.00 |
| JXN Jackson Financial Inc. Class A | Reduce -3.3% | 0.01% | +0.00 |
| NE Noble Corp. PLC | Reduce -11.3% | 0.02% | +0.00 |
| GOSS Gossamer Bio Inc. | Reduce -20.1% | 0.11% | +0.00 |
| OMF Onemain Holdings Inc. | Reduce -10.8% | 0.02% | +0.00 |
| MBX MBX Biosciences Inc. | Reduce -39.4% | 0.09% | +0.01 |
| ZYME Zymeworks Inc. | Reduce -14.4% | 0.20% | +0.01 |
| VEEV Veeva Systems Inc. Class A | Reduce -23.4% | 0.24% | +0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| RCI Rogers Communications Inc. Class B | New | 5.17% | +5.17 |
| ADBE Adobe Inc. | Add +6425.5% | 4.65% | +4.59 |
| YUM Yum! Brands Inc. | New | 4.28% | +4.28 |
| JNJ Johnson & Johnson | Add +1122.8% | 4.46% | +4.12 |
| IQV Iqvia Holdings Inc. | New | 4.10% | +4.10 |
| FLUT Flutter Entertainment PLC-Di | Add +5.3% | 0.76% | +0.27 |
| META Meta Platforms Inc. Class A | Add +5.0% | 0.75% | +0.26 |
| UBER Uber Technologies Inc. | Add +7.7% | 0.64% | +0.24 |
| NVDA Nvidia Corp. | Add +20.1% | 0.31% | +0.16 |
| WING Wingstop Inc. | New | 0.13% | +0.13 |
| IDXX Idexx Laboratories Inc. | New | 0.12% | +0.12 |
| BNTX Biontech SE-ADR | New | 0.11% | +0.11 |
| VRNA Verona Pharma Ltd. | New | 0.10% | +0.10 |
| IDYA Ideaya Biosciences Inc. | Add +9.3% | 0.23% | +0.09 |
| VRT Vertiv Holdings Co. Class A | New | 0.08% | +0.08 |
| NOW ServiceNow Inc. | New | 0.08% | +0.08 |
| CDNS Cadence Design SYS Inc. | Add +30.9% | 0.17% | +0.08 |
| BBIO Bridgebio Pharma Inc. | Add +7.6% | 0.22% | +0.08 |
| KLAC KLA Corp. | New | 0.08% | +0.08 |
| APH Amphenol Corp. Class A | Add +11.2% | 0.15% | +0.07 |
| TXN Texas Instruments Inc. | Add +177.1% | 0.09% | +0.06 |
| COGT Cogent Biosciences Inc. | Add +63.9% | 0.10% | +0.06 |
| VERA Vera Therapeutics Inc. | Add +14.7% | 0.25% | +0.06 |
| IMVT Immunovant Inc. | Add +24.7% | 0.21% | +0.05 |
| ARWR Arrowhead Pharmaceuticals Inc. | Add +12.8% | 0.12% | +0.04 |
| MCHP Microchip Technology Inc. | New | 0.04% | +0.04 |
| ADI Analog Devices Inc. | Add +87.3% | 0.06% | +0.03 |
| SNPS Synopsys Inc. | Add +1.5% | 0.11% | +0.03 |
| CNTA Centessa Pharmaceuticals Ltd. | Add +8.6% | 0.25% | +0.03 |
| BCC Boise Cascade Co. | New | 0.02% | +0.02 |
| UNH Unitedhealth Group Inc. | New | 0.02% | +0.02 |
| TKR Timken Co. | New | 0.02% | +0.02 |
| GT Goodyear Tire & Rubber Co. | New | 0.02% | +0.02 |
| ISRG Intuitive Surgical Inc. | New | 0.01% | +0.01 |
| RDDT Reddit Inc. Class A | Add +4.3% | 0.02% | +0.01 |
| WVE Wave Life Sciences Ltd. | Add +13.9% | 0.15% | +0.01 |
| FUTU Futu Holdings Ltd.-ADR | Add +8.9% | 0.02% | +0.01 |
| WHR Whirlpool Corp. | Add +12.1% | 0.02% | +0.01 |
| INTC Intel Corp. | Add +0.4% | 0.05% | +0.01 |
| PBR.A Petroleo Brasil-SP Pref ADR | Add +9.7% | 0.06% | +0.01 |
| TGT Target Corp. | Add +9.3% | 0.02% | +0.00 |
| RH RH | Add +19.6% | 0.02% | +0.00 |
| JAZZ Jazz Pharmaceuticals PLC | Add +13.9% | 0.02% | +0.00 |
| CLB Core Laboratories Inc. | Add +14.2% | 0.02% | +0.00 |
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 |