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Livermore
Livermore
ZHEN

Platinum Investment Management Ltd

SEC CIK
0001256071
Latest filing
Aug 13, 2026

The latest 13F from Platinum Investment Management Ltd covers Q2 2026 (filed Aug 13, 2026): 85 long positions worth $406.7M. The top 10 holdings make up 38.9% of the portfolio, and the largest is ZTO Express (Cayman) Inc. (ZTO) at 11.0%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
10
Est. +$15.3M
Added
8
Est. +$10.1M
Reduced
22
Est. −$28.3M
Sold out
14
Est. −$29.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. ZTOZTO Express (Cayman) Inc.
    11.0%$44.6MHistory
  2. MUMicron Technology Inc
    5.0%$20.5MHistory
  3. LRCXLam Research Corp
    4.9%$20.1MHistory
  4. TCOMTrip.com Group Ltd
    3.4%$14.0MHistory
  5. DDLDingdong (Cayman) Ltd
    3.1%$12.5MHistory

Share of portfolio

Top 5 holdings and the other 80 positions, by share of portfolio value

  1. ZTO11.0%
  2. MU5.0%
  3. LRCX4.9%
  4. TCOM3.4%
  5. DDL3.1%
  6. Other 80 positions72.5%

Biggest buys

New and added positions, by estimated amount bought

  1. DDOGDatadog, Inc.
    +$3.12MNewHistory
  2. ADIAnalog Devices Inc
    +$2.18MNewHistory
  3. NOWServiceNow, Inc.
    +$1.99MNewHistory
  4. DASHDoorDash, Inc.
    +$1.85MNewHistory
  5. IDYAIDEAYA Biosciences, Inc.
    +$1.75MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. DDOGDatadog, Inc.
    +0.77 pp0.0% → 0.8%History
  2. ADIAnalog Devices Inc
    +0.54 pp0.0% → 0.5%History
  3. IDYAIDEAYA Biosciences, Inc.
    +0.50 pp0.8% → 1.3%History
  4. NOWServiceNow, Inc.
    +0.49 pp0.0% → 0.5%History
  5. DASHDoorDash, Inc.
    +0.45 pp0.0% → 0.5%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MUMicron Technology Inc
    −$6.78MReducedHistory
  2. TERNTerns Pharmaceuticals, Inc.
    −$5.84MSold outHistory
  3. CNTACentessa Pharmaceuticals plc
    −$5.47MSold outHistory
  4. CATCaterpillar Inc
    −$4.26MReducedHistory
  5. GOOGLAlphabet Inc.
    −$3.45MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. TERNTerns Pharmaceuticals, Inc.
    −1.47 pp1.5% → 0.0%History
  2. CNTACentessa Pharmaceuticals plc
    −1.38 pp1.4% → 0.0%History
  3. TCOMTrip.com Group Ltd
    −1.32 pp4.8% → 3.4%History
  4. ZTSZoetis Inc.
    −1.07 pp1.3% → 0.2%History
  5. GOOGLAlphabet Inc.
    −0.87 pp0.9% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$406.7M
+$9.99M (+2.5%) vs. prior quarter
Positions
85
−4 vs. prior quarter
Top 10 concentration
38.9%
Top 10 as share of value
Turnover
6.3%
Q2 2026, one quarter
Average holding period
12.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $4.48B (Q1 2021)

Q1 2021: $4.48BQ2 2021: $4.32BQ3 2021: $3.55BQ4 2021: $3.59BQ1 2022: $3.26BQ2 2022: $2.64BQ3 2022: $2.40BQ4 2022: $2.62BQ1 2023: $2.88BQ2 2023: $2.88BQ3 2023: $2.56BQ4 2023: $2.46BQ1 2024: $2.48BQ2 2024: $2.47BQ3 2024: $2.21BQ4 2024: $1.70BQ1 2025: $1.73BQ2 2025: $1.50BQ3 2025: $1.55BQ4 2025: $432.7MQ1 2026: $396.8MQ2 2026: $406.7M
Q1 2021Q2 2026
13F filings of Platinum Investment Management Ltd by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 202685$406.7MZTOMULRCXvs. Q1 2026SEC
Q1 2026May 14, 202689$396.8MZTOTCOMDDLvs. Q4 2025SEC
Q4 2025Feb 13, 2026124$432.7MZTOTCOMDDLvs. Q3 2025SEC
Q3 2025Nov 13, 2025120$1.55BICEGOOGLABBVvs. Q2 2025SEC
Q2 2025Jul 21, 2025115$1.50BGOOGLUBSAVGOvs. Q1 2025SEC
Q1 2025May 15, 2025115$1.73BZTOTRUUBSvs. Q4 2024SEC
Q4 2024Feb 11, 2025115$1.70BZTOTRUGOOGLvs. Q3 2024SEC
Q3 2024Nov 8, 2024122$2.21BZTOTRUICEvs. Q2 2024SEC
Q2 2024Aug 13, 2024134$2.47BZTOAVGOMUvs. Q1 2024SEC
Q1 2024May 13, 2024139$2.48BZTOMUICEvs. Q4 2023SEC
Q4 2023Feb 13, 2024142$2.46BZTOPDDICEvs. Q3 2023SEC
Q3 2023Nov 3, 2023144$2.56BZTOMCHPPDDvs. Q2 2023SEC
Q2 2023Aug 11, 2023143$2.88BZTOMCHPICEvs. Q1 2023SEC
Q1 2023May 12, 2023146$2.88BZTOMCHPTCOMvs. Q4 2022SEC
Q4 2022Feb 13, 2023132$2.62BZTOMCHPTCOMvs. Q3 2022SEC
Q3 2022Nov 14, 2022131$2.40BZTOMCHPTCOMvs. Q2 2022SEC
Q2 2022Aug 11, 2022130$2.64BZTOMCHPTCOMvs. Q1 2022SEC
Q1 2022May 13, 2022135$3.26BZTOMCHPTCOMvs. Q4 2021SEC
Q4 2021Feb 11, 2022144$3.59BZTOMCHPMUvs. Q3 2021SEC
Q3 2021Nov 9, 2021146$3.55BZTOTCOMMCHPvs. Q2 2021SEC
Q2 2021Aug 11, 2021145$4.32BZTOMUMCHPvs. Q1 2021SEC
Q1 2021May 13, 2021142$4.48BZTOGEMU–SEC

13D and 13G filings

Companies where Platinum Investment Management Ltd reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Platinum Investment Management Ltd does not currently report owning 5% or more of any company.

Latest filings

10 filings on file made by Platinum Investment Management Ltd or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Platinum Investment Management Ltd
CompanyFiled (ET)FormStakeChangeEvent dateFiling
NSTGNS Wind Down Co., Inc.Nov 6, 202413GOld format–––SEC
KZIAKazia Therapeutics LtdNov 6, 202413GOld format–––SEC
Centogene N.V.Nov 6, 202413GOld format–––SEC
ICVXIcosavax, Inc.Feb 12, 202413GOld format–––SEC
KZIAKazia Therapeutics LtdFeb 12, 202413GOld format–New–SEC
NSTGNS Wind Down Co., Inc.Feb 12, 202413GOld format–New–SEC
ICVXIcosavax, Inc.Feb 9, 202313GOld format–New–SEC
Esperion Therapeutics IncFeb 10, 202213GOld format–New–SEC
Centogene N.V.Dec 9, 202113GOld format–New–SEC
ESPREsperion Therapeutics, Inc.Feb 12, 202113GOld format–New–SEC