ANTIPODES PARTNERS Ltd

CIK 0001652442 · Q2 2026

13F Equity AUM

$5.5B

+5.1% QoQ

Positions

130

+4 QoQ

AUM Rank

#1,451

Top 12%

Skill Alpha (FF)

+3.9%/yr^ns

No Clear Edge

Rank #878 · Top 11%

vs S&P +0.9%/yr (unadj.)

Quarters Tracked

~9 years

Portfolio Concentration

Top 5: 19.0%Top 10: 34.0%Top 20: 56.7%

AMZN4.3%

AEP4.3%

COF3.6%

NVDA3.4%

PEO3.4%

FER3.4%

B7S3.3%

SRE3.0%

MSFT2.7%

AEE2.7%

Others (120)66.0%

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

Sector Allocation

Utilities27.9%

Technology14.0%

Healthcare11.5%

Consumer Cyclical9.8%

Financial Services8.7%

Energy8.3%

Industrials3.8%

Consumer Defensive3.8%

Other12.0%

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

Position Sizing

Positions: 130Median: 0.12%Avg: 0.77%

0–0.5%

83(6.7%)

0.5–1%

7(5.5%)

1–3%

32(59.1%)

3–5%

8(28.6%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 0Unique: 130vs 20 funds

0%Low

130

Fund positions

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.

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Position Changes This Quarter

New31Increased43Decreased54Exited27

New Positions

BKNG1.7%

+530K

QRVO1.4%

+815K

CWT0.7%

+753K

DT0.6%

+720K

TEL0.4%

+119K

PFGC0.4%

+184K

HONEYWELL INTL INC0.4%

+87K

AWM0.3%

+280K

BIIB0.3%

+87K

HONEYWELL AEROSPACE …0.3%

+82K

Increased

HUMA0.1%

+4.4M(+77%)

HDB0.5%

+706K(+164%)

ELD1.0%

+626K(+60%)

NU1.1%

+497K(+12%)

GLOB0.3%

+277K(+74%)

WTRG2.3%

+247K(+8%)

VAL-WT1.3%

+225K(+29%)

NVDA3.4%

+223K(+31%)

COF3.6%

+221K(+30%)

PEO3.4%

+213K(+6%)

Decreased

ALLY1.3%

-717,691(-31%)

UBS0.0%

-562,450(-96%)

HTO2.0%

-489,427(-22%)

PCOR0.0%

-466,698(-97%)

WDAY0.4%

-465,543(-75%)

MRK2.6%

-343,757(-24%)

KDP1.2%

-321,553(-14%)

B7S3.3%

-315,057(-3%)

CART1.9%

-219,224(-9%)

B2.6%

-217,558(-5%)

Exited

-161,216

-212,117

-1,159,803

-61,687

-52,877

-26,559

-640

-101,927

-45,575

-125,668

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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