Platinum Investment Management Ltd.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Platinum Investment Management Ltd. reported 89 stock positions worth $396.8 million. Its top holding was Zto Express Cayman Inc.-ADR (ZTO) at 12.7% of the portfolio, followed by Trip.com Group Ltd.-ADR (TCOM, 4.8%) and Dingdong Cayman Ltd. -SPN ADR (DDL, 4.2%). Compared with Q4 2025, it opened 6 new positions, sold out of 41, added to 16 and reduced 30. The biggest buy was a new position in Astrazeneca (AZN) and the biggest sale Trip.com Group Ltd.-ADR (TCOM, shares −14%).

Most Recent 13F
Q2 2026
Location
SYDNEY AUSTRALIA 2000, C3
CIK
0001256071
Portfolio Value
$396.8M (Q1 2026)
SEC Filing
0001256071-26-000005 ↗ filed May 14, 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 $396.8M Q1 2026 Q2 2026: $406.7M Q2 2026

Holdings 89 stocks · $396.8M
ZTO Zto Express Cayman Inc.-ADR 12.65% 1,994,127 $50.2M No change
TCOM Trip.com Group Ltd.-ADR 4.77% 379,718 $18.9M Reduce -14.4%
DDL Dingdong Cayman Ltd. -SPN ADR 4.20% 6,486,507 $16.7M Add +0.4%
LRCX Lam Research Corp. 2.50% 46,439 $9.9M Reduce -16.8%
BIRK Birkenstock Holding PLC 2.48% 275,000 $9.9M Add +11.1%
NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD 2.48% 993,612 $9.8M Reduce -6.2%
AZN Astrazeneca PLC 2.35% 48,088 $9.3M New
AVGO Broadcom Inc. 2.04% 26,186 $8.1M Reduce -15.2%
PDD PDD Holdings Inc. 2.02% 78,445 $8.0M No change
MU Micron Technology Inc. 2.01% 23,656 $8.0M Reduce -5.1%
MRK Merck & Co. Inc. 1.92% 63,316 $7.6M No change
GOOG Alphabet Inc. Class C 1.78% 24,592 $7.1M Reduce -33.3%
JNJ Johnson & Johnson 1.71% 27,830 $6.8M No change
ABBV Abbvie Inc. 1.65% 30,102 $6.5M No change
YUM Yum! Brands Inc. 1.56% 39,847 $6.2M No change
CAT Caterpillar Inc. 1.52% 8,500 $6.0M Add +54.5%
HTHT H World Group Ltd.-ADR 1.50% 117,996 $5.9M No change
TERN Terns Pharmaceuticals Inc. 1.47% 110,734 $5.8M No change
RCI Rogers Communications Inc. Class B 1.42% 147,160 $5.6M No change
CNTA Centessa Pharmaceuticals Ltd. 1.38% 137,741 $5.5M Reduce -11.2%
ZTS Zoetis Inc. 1.25% 42,000 $5.0M No change
AS Amer Sports Inc. 1.24% 150,000 $4.9M Reduce -6.3%
NVDA Nvidia Corp. 1.24% 28,191 $4.9M No change
APGE Apogee Therapeutics Inc. 1.24% 58,314 $4.9M Reduce -15.8%
NFLX Netflix Inc. 1.21% 50,023 $4.8M New
CCJ Cameco Corp. 1.16% 42,356 $4.6M No change
VERA Vera Therapeutics Inc. 1.15% 113,687 $4.6M Reduce -4.8%
IQV Iqvia Holdings Inc. 1.15% 26,708 $4.6M No change
V Visa Inc. Class A 1.14% 15,000 $4.5M Add +2.0%
IMVT Immunovant Inc. 1.14% 181,774 $4.5M No change
ADBE Adobe Inc. 1.14% 18,571 $4.5M Add +34.1%
VAL Valaris Ltd. 1.14% 45,956 $4.5M No change
UBS UBS Group AG-Reg 1.13% 117,507 $4.5M No change
KR Kroger Co. 1.11% 60,743 $4.4M Reduce -8.9%
ELF Elf Beauty Inc. 1.11% 72,500 $4.4M Add +72.6%
COGT Cogent Biosciences Inc. 1.09% 112,066 $4.3M Reduce -7.6%
ARWR Arrowhead Pharmaceuticals Inc. 1.02% 64,752 $4.1M Reduce -27.6%
HD Home Depot Inc. 0.95% 11,500 $3.8M Reduce -13.5%
ICE Intercontinental Exchange Inc. 0.95% 23,913 $3.8M Reduce -24.9%
ADCT Adc Therapeutics SA 0.94% 990,778 $3.7M No change
BBIO Bridgebio Pharma Inc. 0.92% 49,269 $3.7M Add +3.2%
CAVA Cava Group Inc. 0.92% 45,000 $3.6M Add +20.0%
FICO Fair Isaac Corp. 0.91% 3,400 $3.6M Reduce -11.9%
GOOGL Alphabet Inc. Class A 0.87% 12,000 $3.5M Reduce -25.0%
FND Floor & Decor Holdings Inc. Class A 0.86% 67,500 $3.4M Reduce -2.0%
GPCR Structure Therapeutics Inc. 0.81% 66,864 $3.2M Reduce -23.9%
CSGP Costar Group Inc. 0.79% 77,500 $3.1M Add +19.2%
TRU Transunion 0.78% 44,595 $3.1M No change
IDYA Ideaya Biosciences Inc. 0.77% 91,637 $3.1M Reduce -24.0%
RCUS Arcus Biosciences Inc. 0.73% 134,217 $2.9M No change
META Meta Platforms Inc. Class A 0.72% 5,000 $2.9M Reduce -28.6%
MA Mastercard Inc. Class A 0.72% 5,689 $2.8M No change
MSI Motorola Solutions Inc. 0.69% 6,302 $2.7M Add +47.4%
GEV GE Vernova Inc. 0.67% 3,047 $2.7M No change
BROS Dutch Bros Inc. Class A 0.67% 52,500 $2.7M Add +40.0%
ZYME Zymeworks Inc. 0.66% 105,184 $2.6M No change
ROIV Roivant Sciences Ltd. 0.65% 92,397 $2.6M Reduce -51.1%
VRT Vertiv Holdings Co. Class A 0.64% 10,127 $2.5M Reduce -15.9%
ISRG Intuitive Surgical Inc. 0.56% 4,846 $2.2M No change
PALI Palisade Bio Inc. 0.54% 1,231,414 $2.2M Add +85.4%
KLAC KLA Corp. 0.54% 1,458 $2.1M Reduce -28.5%
BKNG Booking Holdings Inc. 0.53% 500 $2.1M Add +150.0%
RVMD Revolution Medicines Inc. 0.51% 20,813 $2.0M Add +11.6%
PRQR Proqr Therapeutics NV 0.50% 1,235,514 $2.0M No change
WVE Wave Life Sciences Ltd. 0.50% 275,269 $2.0M Add +19.3%
VEEV Veeva Systems Inc. Class A 0.49% 11,110 $2.0M No change
WING Wingstop Inc. 0.47% 12,000 $1.9M Add +50.0%
IDXX Idexx Laboratories Inc. 0.42% 3,000 $1.7M No change
MSFT Microsoft Corp. 0.39% 4,134 $1.5M Reduce -51.8%
AMD Advanced Micro Devices 0.37% 7,210 $1.5M No change
ECHO Echostar Corp. Class A 0.37% 12,509 $1.5M New
DRUG Bright Minds Biosciences Inc. 0.35% 19,127 $1.4M Reduce -12.0%
STOK Stoke Therapeutics Inc. 0.34% 40,815 $1.3M No change
DFTX Definium Therapeutics Inc. 0.33% 70,000 $1.3M No change
MBX MBX Biosciences Inc. 0.33% 43,597 $1.3M No change
APH Amphenol Corp. Class A 0.30% 9,440 $1.2M New
BSX Boston Scientific Corp. 0.28% 17,827 $1.1M Reduce -8.8%
CCCC C4 Therapeutics Inc. 0.26% 384,766 $1.0M New
GSAT Globalstar Inc. 0.24% 14,168 $941K New
BCYC Bicycle Therapeutics PLC-ADR 0.22% 184,603 $857K No change
JD Jd.com Inc.-ADR 0.21% 28,650 $847K Reduce -7.1%
MGTX Meiragtx Holdings PLC 0.20% 93,922 $813K No change
MOD Modine Manufacturing Co. 0.20% 3,633 $787K Reduce -79.2%
ARVN Arvinas Inc. 0.19% 72,527 $769K No change
AURA Aura Biosciences Inc. 0.19% 111,865 $748K No change
ABSI Absci Corp. 0.18% 237,764 $713K No change
BABA Alibaba Group Holding-SP ADR 0.14% 4,283 $537K Reduce -19.7%
CDXS Codexis Inc. 0.11% 264,464 $431K No change
SKYE Skye Bioscience Inc. 0.04% 233,095 $143K No change

Portfolio Sells Q4 2025 → Q1 2026
TCOM Trip.com Group Ltd.-ADR Reduce -14.4% 4.77% −2.61
AMZN Amazon.com Inc. Sold out 0.00% −1.66
UBER Uber Technologies Inc. Sold out 0.00% −1.19
GOOG Alphabet Inc. Class C Reduce -33.3% 1.78% −0.89
WWW Wolverine World Wide Inc. Sold out 0.00% −0.84
GPCR Structure Therapeutics Inc. Reduce -23.9% 0.81% −0.60
FICO Fair Isaac Corp. Reduce -11.9% 0.91% −0.59
MSFT Microsoft Corp. Reduce -51.8% 0.39% −0.57
AVGO Broadcom Inc. Reduce -15.2% 2.04% −0.43
GOSS Gossamer Bio Inc. Sold out 0.00% −0.40
ANET Arista Networks Inc. Sold out 0.00% −0.38
ARWR Arrowhead Pharmaceuticals Inc. Reduce -27.6% 1.02% −0.35
META Meta Platforms Inc. Class A Reduce -28.6% 0.72% −0.35
MOD Modine Manufacturing Co. Reduce -79.2% 0.20% −0.34
SHOP Shopify Inc. Class A Sold out 0.00% −0.30
ROIV Roivant Sciences Ltd. Reduce -51.1% 0.65% −0.30
GOOGL Alphabet Inc. Class A Reduce -25.0% 0.87% −0.29
PSIX Power Solutions Internationa Sold out 0.00% −0.26
CPNG Coupang Inc. Sold out 0.00% −0.26
ICE Intercontinental Exchange Inc. Reduce -24.9% 0.95% −0.24
VERA Vera Therapeutics Inc. Reduce -4.8% 1.15% −0.24
IDYA Ideaya Biosciences Inc. Reduce -24.0% 0.77% −0.19
BSX Boston Scientific Corp. Reduce -8.8% 0.28% −0.15
AS Amer Sports Inc. Reduce -6.3% 1.24% −0.14
FND Floor & Decor Holdings Inc. Class A Reduce -2.0% 0.86% −0.11
HD Home Depot Inc. Reduce -13.5% 0.95% −0.10
MICC The Magnum Ice Cream Co. NV Sold out 0.00% −0.08
PONY Pony AI Inc. Sold out 0.00% −0.06
INTC Intel Corp. Sold out 0.00% −0.05
BABA Alibaba Group Holding-SP ADR Reduce -19.7% 0.14% −0.05
PBR.A Petroleo Brasil-SP Pref ADR Sold out 0.00% −0.04
DRUG Bright Minds Biosciences Inc. Reduce -12.0% 0.35% −0.04
KLAC KLA Corp. Reduce -28.5% 0.54% −0.03
BCC Boise Cascade Co. Sold out 0.00% −0.02
LBRDK Liberty Broadband-C Sold out 0.00% −0.02
JAZZ Jazz Pharmaceuticals PLC Sold out 0.00% −0.02
OMF Onemain Holdings Inc. Sold out 0.00% −0.02
GT Goodyear Tire & Rubber Co. Sold out 0.00% −0.02
HUN Huntsman Corp. Sold out 0.00% −0.02
CLB Core Laboratories Inc. Sold out 0.00% −0.02
MTDR Matador Resources Co. Sold out 0.00% −0.02
VIST Vista Energy Sab DE CV Sold out 0.00% −0.02
UNH Unitedhealth Group Inc. Sold out 0.00% −0.02
WHR Whirlpool Corp. Sold out 0.00% −0.02
CVS CVS Health Corp. Sold out 0.00% −0.02
TGT Target Corp. Sold out 0.00% −0.02
DOW Dow Inc. Sold out 0.00% −0.02
CPB The Campbell's Company Sold out 0.00% −0.01
FUTU Futu Holdings Ltd.-ADR Sold out 0.00% −0.01
CI The Cigna Group Sold out 0.00% −0.01

Portfolio Buys Q4 2025 → Q1 2026
AZN Astrazeneca PLC New 2.35% +2.35
NFLX Netflix Inc. New 1.21% +1.21
CAT Caterpillar Inc. Add +54.5% 1.52% +0.79
DDL Dingdong Cayman Ltd. -SPN ADR Add +0.4% 4.20% +0.48
CAVA Cava Group Inc. Add +20.0% 0.92% +0.41
ELF Elf Beauty Inc. Add +72.6% 1.11% +0.37
ECHO Echostar Corp. Class A New 0.37% +0.37
MSI Motorola Solutions Inc. Add +47.4% 0.69% +0.31
APH Amphenol Corp. Class A New 0.30% +0.30
BKNG Booking Holdings Inc. Add +150.0% 0.53% +0.28
CCCC C4 Therapeutics Inc. New 0.26% +0.26
GSAT Globalstar Inc. New 0.24% +0.24
PALI Palisade Bio Inc. Add +85.4% 0.54% +0.18
RVMD Revolution Medicines Inc. Add +11.6% 0.51% +0.17
BIRK Birkenstock Holding PLC Add +11.1% 2.48% +0.14
BROS Dutch Bros Inc. Class A Add +40.0% 0.67% +0.14
BBIO Bridgebio Pharma Inc. Add +3.2% 0.92% +0.08
WING Wingstop Inc. Add +50.0% 0.47% +0.03
ADBE Adobe Inc. Add +34.1% 1.14% +0.02
V Visa Inc. Class A Add +2.0% 1.14% −0.05
CSGP Costar Group Inc. Add +19.2% 0.79% −0.22
WVE Wave Life Sciences Ltd. Add +19.3% 0.50% −0.40

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