PLATINUM INVESTMENT MANAGEMENT LTD

CIK 0001256071 · Q1 2026

13F Equity AUM

$396.8M

-8.3% QoQ

Positions

-35 QoQ

AUM Rank

#4,984

Top 40%

Skill Alpha (FF)

+0.8%/yr^ns

No Clear Edge

Rank #1,734 · Top 21%

vs S&P -2.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 26.6%Top 10: 37.5%Top 20: 53.4%

ZTO12.7%

CLV4.8%

DDL4.2%

LRCX2.5%

BIRK2.5%

NOAH2.5%

AZN2.4%

AVGO2.0%

PDD2.0%

MU2.0%

Others (79)62.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare30.6%

Consumer Cyclical18.5%

Industrials15.6%

Technology12.5%

Consumer Defensive6.4%

Financial Services6.4%

Communication Services6.2%

Energy2.3%

Other1.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 89Median: 0.86%Avg: 1.12%

0–0.5%

24(6.6%)

0.5–1%

28(20.3%)

1–3%

34(51.5%)

3–5%

2(9.0%)

5%+

1(12.7%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 88Unique: 1vs 20 funds

1.2%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.7%

BlackRock, Inc.

2.1%

BANK OF AMERICA CORP /DE/

1.8%

GEODE CAPITAL MANAGEMENT, LLC

2.3%

STATE STREET CORP

2.3%

JPMORGAN CHASE & CO

1.6%

FMR LLC

2.6%

VANGUARD CAPITAL MANAGEMENT LLC

2.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

2.5%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New7Increased16Decreased30Exited42

New Positions

AZN2.4%

+48K

NFLX1.2%

+50K

SATS0.4%

+13K

DFTX0.3%

+70K

APH0.3%

+9K

CCCC0.3%

+385K

GSAT0.2%

+14K

Increased

PALI0.5%

+567K(+85%)

WVE0.5%

+45K(+19%)

ELF1.1%

+31K(+73%)

BIRK2.5%

+27K(+11%)

DDL4.2%

+26K(+0%)

BROS0.7%

+15K(+40%)

CSGP0.8%

+13K(+19%)

CAVA0.9%

+8K(+20%)

ADBE1.1%

+5K(+34%)

WING0.5%

+4K(+50%)

Decreased

ROIV0.7%

-96,749(-51%)

NOAH2.5%

-65,300(-6%)

CLV4.8%

-64,000(-14%)

IDYA0.8%

-28,967(-24%)

ARWR1.0%

-24,732(-28%)

GPCR0.8%

-21,010(-24%)

CNTA1.4%

-17,360(-11%)

MOD0.2%

-13,822(-79%)

GOOG1.8%

-12,251(-33%)

APGE1.2%

-10,898(-16%)

Exited

-31,080

-63,217

-200,000

-561,951

-12,456

-8,161

-47,735

-20,000

-70,000

-21,682

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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