# PLATINUM INVESTMENT MANAGEMENT LTD

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1256071. Source: https://holderbook.com/funds/1256071-platinum-investment-management-ltd/

- Reported value: $406.7M
- Positions: 85
- Weight of the ten largest: 38.9%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ZTO EXPRESS CAYMAN INC | [ZTO](https://holderbook.com/stocks/ZTO/) | $44.6M | 1,994,127 | 11.0% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $20.5M | 17,782 | 5.0% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $20.1M | 46,439 | 4.9% | 7 |
| TRIP COM GROUP LTD | [TCOM](https://holderbook.com/stocks/TCOM/) | $14.0M | 351,921 | 3.4% | 27 |
| DINGDONG CAYMAN LTD | [DDL](https://holderbook.com/stocks/DDL/) | $12.5M | 6,486,507 | 3.1% | 18 |
| NOAH HLDGS LTD | [NOAH](https://holderbook.com/stocks/NOAH/) | $9.9M | 993,612 | 2.4% | 28 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $9.9M | 26,186 | 2.4% | 11 |
| BIRKENSTOCK HOLDING PLC | [BIRK](https://holderbook.com/stocks/BIRK/) | $9.0M | 210,000 | 2.2% | 8 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $9.0M | 48,088 | 2.2% | 2 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $8.7M | 24,592 | 2.1% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $8.1M | 63,316 | 2.0% | 6 |
| APOGEE THERAPEUTICS INC | [APGE](https://holderbook.com/stocks/APGE/) | $7.7M | 58,314 | 1.9% | 12 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $7.6M | 30,102 | 1.9% | 6 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $7.1M | 27,830 | 1.7% | 13 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $6.4M | 39,847 | 1.6% | 5 |
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $6.0M | 78,445 | 1.5% | 14 |
| COGENT BIOSCIENCES INC | [COGT](https://holderbook.com/stocks/COGT/) | $6.0M | 154,220 | 1.5% | 23 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $5.8M | 117,507 | 1.4% | 6 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $5.6M | 28,191 | 1.4% | 13 |
| IMMUNOVANT INC | [IMVT](https://holderbook.com/stocks/IMVT/) | $5.6M | 144,671 | 1.4% | 20 |
| ARROWHEAD PHARMACEUTICALS IN | [ARWR](https://holderbook.com/stocks/ARWR/) | $5.3M | 64,752 | 1.3% | 14 |
| IDEAYA BIOSCIENCES INC | [IDYA](https://holderbook.com/stocks/IDYA/) | $5.2M | 138,708 | 1.3% | 24 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $5.2M | 26,708 | 1.3% | 5 |
| H WORLD GROUP LTD | [HTHT](https://holderbook.com/stocks/HTHT/) | $4.9M | 117,996 | 1.2% | 26 |
| VERA THERAPEUTICS INC | [VERA](https://holderbook.com/stocks/VERA/) | $4.9M | 113,687 | 1.2% | 13 |
| STRUCTURE THERAPEUTICS INC | [GPCR](https://holderbook.com/stocks/GPCR/) | $4.8M | 90,363 | 1.2% | 14 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $4.8M | 14,000 | 1.2% | 11 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $4.8M | 4,500 | 1.2% | 3 |
| ROGERS COMMUNICATIONS INC | [RCI](https://holderbook.com/stocks/RCI/) | $4.8M | 147,160 | 1.2% | 5 |
| AMER SPORTS INC | [AS](https://holderbook.com/stocks/AS/) | $4.7M | 140,000 | 1.2% | 8 |
| KROGER CO | [KR](https://holderbook.com/stocks/KR/) | $4.5M | 81,305 | 1.1% | 4 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $4.4M | 14,580 | 1.1% | 5 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $4.3M | 42,356 | 1.1% | 16 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $4.2M | 7,210 | 1.0% | 3 |
| ARCUS BIOSCIENCES INC | [RCUS](https://holderbook.com/stocks/RCUS/) | $4.1M | 134,217 | 1.0% | 31 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $3.8M | 18,571 | 0.9% | 6 |
| FLOOR & DECOR HLDGS INC | [FND](https://holderbook.com/stocks/FND/) | $3.7M | 62,500 | 0.9% | 4 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.7M | 6,500 | 0.9% | 31 |
| PALISADE BIO INC | [PALI](https://holderbook.com/stocks/PALI/) | $3.6M | 1,730,866 | 0.9% | 3 |
| DUTCH BROS INC | [BROS](https://holderbook.com/stocks/BROS/) | $3.6M | 50,000 | 0.9% | 4 |
| FAIR ISAAC CORP | [FICO](https://holderbook.com/stocks/FICO/) | $3.6M | 3,000 | 0.9% | 4 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $3.6M | 3,047 | 0.9% | 3 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $3.5M | 10,000 | 0.9% | 4 |
| VALARIS LTD | [VAL](https://holderbook.com/stocks/VAL/) | $3.3M | 45,956 | 0.8% | 14 |
| E L F BEAUTY INC | [ELF](https://holderbook.com/stocks/ELF/) | $3.3M | 45,000 | 0.8% | 7 |
| CAVA GROUP INC | [CAVA](https://holderbook.com/stocks/CAVA/) | $3.3M | 42,000 | 0.8% | 3 |
| DEFINIUM THERAPEUTICS INC | [DFTX](https://holderbook.com/stocks/DFTX/) | $3.3M | 70,000 | 0.8% | 2 |
| ROIVANT SCIENCES LTD | [ROIV](https://holderbook.com/stocks/ROIV/) | $3.3M | 92,397 | 0.8% | 19 |
| TRANSUNION | [TRU](https://holderbook.com/stocks/TRU/) | $3.2M | 44,595 | 0.8% | 14 |
| REVOLUTION MEDICINES INC | [RVMD](https://holderbook.com/stocks/RVMD/) | $3.2M | 16,994 | 0.8% | 4 |
| DATADOG INC | [DDOG](https://holderbook.com/stocks/DDOG/) | $3.1M | 12,000 | 0.8% | 1 |
| BRIDGEBIO PHARMA INC | [BBIO](https://holderbook.com/stocks/BBIO/) | $3.0M | 39,742 | 0.7% | 6 |
| WINGSTOP INC | [WING](https://holderbook.com/stocks/WING/) | $2.9M | 17,000 | 0.7% | 5 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $2.9M | 23,913 | 0.7% | 22 |
| ECHOSTAR CORP | [ECHO](https://holderbook.com/stocks/ECHO/) | $2.8M | 27,509 | 0.7% | 2 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $2.8M | 8,286 | 0.7% | 5 |
| ABSCI CORPORATION | [ABSI](https://holderbook.com/stocks/ABSI/) | $2.8M | 237,764 | 0.7% | 3 |
| ZYMEWORKS INC | [ZYME](https://holderbook.com/stocks/ZYME/) | $2.7M | 105,184 | 0.7% | 15 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $2.6M | 6,302 | 0.6% | 3 |
| MBX BIOSCIENCES INC | [MBX](https://holderbook.com/stocks/MBX/) | $2.4M | 43,597 | 0.6% | 8 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $2.2M | 12,500 | 0.5% | 30 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $2.2M | 5,485 | 0.5% | 1 |
| PROQR THRAPEUTICS N V | [PRQR](https://holderbook.com/stocks/PRQR/) | $2.2M | 1,159,428 | 0.5% | 7 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $2.1M | 30,000 | 0.5% | 2 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $2.0M | 20,000 | 0.5% | 1 |
| DOORDASH INC | [DASH](https://holderbook.com/stocks/DASH/) | $1.8M | 10,000 | 0.5% | 1 |
| C4 THERAPEUTICS INC | [CCCC](https://holderbook.com/stocks/CCCC/) | $1.8M | 384,766 | 0.4% | 2 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $1.6M | 4,766 | 0.4% | 1 |
| WAVE LIFE SCIENCES LTD | [WVE](https://holderbook.com/stocks/WVE/) | $1.6M | 275,269 | 0.4% | 31 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $1.5M | 2,900 | 0.4% | 5 |
| BRIGHT MINDS BIOSCIENCES INC | [DRUG](https://holderbook.com/stocks/DRUG/) | $1.3M | 19,127 | 0.3% | 6 |
| STOKE THERAPEUTICS INC | [STOK](https://holderbook.com/stocks/STOK/) | $1.3M | 40,815 | 0.3% | 4 |
| M-TRON INDS INC | [MPTI](https://holderbook.com/stocks/MPTI/) | $1.3M | 12,839 | 0.3% | 1 |
| COSTAR GROUP INC | [CSGP](https://holderbook.com/stocks/CSGP/) | $1.1M | 40,000 | 0.3% | 10 |
| A10 NETWORKS INC | [ATEN](https://holderbook.com/stocks/ATEN/) | $1.1M | 28,630 | 0.3% | 1 |
| BLOCK INC | [XYZ](https://holderbook.com/stocks/XYZ/) | $950.0K | 12,500 | 0.2% | 1 |
| AURA BIOSCIENCES INC | [AURA](https://holderbook.com/stocks/AURA/) | $794.2K | 111,865 | 0.2% | 11 |
| JD.COM INC | [JD](https://holderbook.com/stocks/JD/) | $730.0K | 28,650 | 0.2% | 31 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $718.6K | 10,000 | 0.2% | 10 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $686.2K | 1,685 | 0.2% | 1 |
| ADC THERAPEUTICS SA | [ADCT](https://holderbook.com/stocks/ADCT/) | $622.3K | 581,609 | 0.2% | 9 |
| CODEXIS INC | [CDXS](https://holderbook.com/stocks/CDXS/) | $597.7K | 264,464 | 0.1% | 10 |
| INHIBRX BIOSCIENCES INC | [INBX](https://holderbook.com/stocks/INBX/) | $582.3K | 6,146 | 0.1% | 1 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $411.1K | 4,283 | 0.1% | 31 |
| SKYE BIOSCIENCE INC | [SKYE](https://holderbook.com/stocks/SKYE/) | $161.6K | 233,095 | 0.0% | 8 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.4% | +14.8% | -3.5% | 97% |
| Q1 2026 | -3.2% | -4.6% | +1.4% | 100% |
| Q4 2025 | +13.0% | +2.4% | +10.6% | 100% |
| Q3 2025 | +16.3% | +7.8% | +8.5% | 100% |
| Q2 2025 | +11.7% | +10.5% | +1.3% | 100% |
| Q1 2025 | -7.1% | -4.6% | -2.6% | 100% |
| Q4 2024 | -8.4% | +2.1% | -10.5% | 100% |
| Q3 2024 | +5.2% | +5.4% | -0.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $406.7M | 85 |
| Q1 2026 | $396.8M | 89 |
| Q4 2025 | $432.7M | 124 |
| Q3 2025 | $1.5B | 120 |
| Q2 2025 | $1.5B | 115 |
| Q1 2025 | $1.7B | 115 |
| Q4 2024 | $1.7B | 115 |
| Q3 2024 | $2.2B | 122 |
| Q2 2024 | $2.5B | 134 |
| Q1 2024 | $2.5B | 139 |
| Q4 2023 | $2.5B | 142 |
| Q3 2023 | $2.6B | 144 |