ANTIPODES PARTNERS Ltd

ROYAL EXCHANGE, C3 · CIK 1652442 · 13F filing filed 2026-08-06

SEC-registered investment adviser since 2021 · corporation

Assets managed$14.6bn
Staff86 · 66 in investment roles
Main clients (by assets)Private funds 34%
Main officeSydney
Form ADV · 2026-09-25SEC adviser record

Legal entityANTIPODES PARTNERS LIMITED (AU)

Kindfutures
Others nearbySydney

As an employer

Offices in1 country

In Australia

Financial services licences1

Entity	Role	Staff	Women	Resigned
ANTIPODES PARTNERS LIMITED Australian Public Company · Sydney	licenseeAFSL 481580

Sources: ASIC licence register, APRA, the Workplace Gender Equality Agency (employers with 100+ staff), ATO and the ABN register (Creative Commons Attribution).

$5.5bn reported value +5.1% vs Q1 2026

130positions

34.0%in top 10

31 new 43 added 54 reduced 27 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	AMAZON COM INC COM AMZN	AMZN	996,493	$237.5m4.35%	4.35%	Reduced -200.3k	-200,281 -16.7%
2	AMERICAN ELEC PWR CO INC COM AEP	AEP	1,699,356	$232.5m4.26%	4.26%	Reduced -110.7k	-110,730 -6.1%
3	CAPITAL ONE FINL CORP COM COF	COF	967,575	$194.1m3.56%	3.56%	Added +220.9k	+220,911 29.6%
4	NVIDIA CORPORATION COM NVDA	NVDA	933,424	$186.8m3.42%	3.42%	Added +222.8k	+222,759 31.4%
5	EXELON CORP COM EXC	EXC	3,976,576	$185.4m3.40%	3.40%	Added +213.2k	+213,195 5.7%
6	FERROVIAL SE ORD SHS FER	FER	2,677,153	$183.6m3.36%	3.36%	Added +83.5k	+83,485 3.2%
7	BROOKDALE SR LIVING INC COM BKD	BKD	11,091,757	$178.5m3.27%	3.27%	Reduced -315.1k	-315,057 -2.8%
8	SEMPRA COM SRE	SRE	1,773,357	$164.4m3.01%	3.01%	Added +50.8k	+50,765 3.0%
9	MICROSOFT CORP COM MSFT	MSFT	394,726	$147.2m2.70%	2.70%	Reduced -137.0k	-136,999 -25.8%
10	AMEREN CORP COM AEE	AEE	1,285,233	$145.3m2.66%	2.66%	Added +13.6k	+13,647 1.1%
11	MERCK & CO INC COM MRK	MRK	1,097,509	$141.0m2.58%	2.58%	Reduced -343.8k	-343,757 -23.9%
12	BARRICK MNG CORP COM SHS B	B	3,837,977	$141.0m2.58%	2.58%	Reduced -217.6k	-217,558 -5.4%
13	KEYSIGHT TECHNOLOGIES INC COM KEYS	KEYS	374,565	$131.1m2.40%	2.40%	Reduced -4.3k	-4,299 -1.1%
14	CROWN CASTLE INC COM CCI	CCI	1,674,362	$126.8m2.32%	2.32%	Added +50.2k	+50,182 3.1%
15	ESSENTIAL UTILS INC COM WTRG	WTRG	3,266,286	$125.1m2.29%	2.29%	Added +247.5k	+247,471 8.2%
16	ENTERGY CORP NEW COM ETR	ETR	1,085,598	$124.7m2.28%	2.28%	Reduced -77.1k	-77,140 -6.6%
17	FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS FMX	FMX	950,878	$121.6m2.23%	2.23%	Reduced -45.7k	-45,682 -4.6%
18	HCA HEALTHCARE INC COM HCA	HCA	289,941	$113.0m2.07%	2.07%	Reduced -1.5k	-1,511 -0.5%
19	DOMINION ENERGY INC COM D	D	1,612,527	$110.1m2.02%	2.02%	Added +6.1k	+6,140 0.4%
20	SJW GROUP COM HTO	HTO	1,759,602	$106.9m1.96%	1.96%	Reduced -489.4k	-489,427 -21.8%
21	CHENIERE ENERGY INC COM NEW LNG	LNG	435,166	$104.0m1.91%	1.91%	Added +105.4k	+105,433 32.0%
22	DUKE ENERGY CORP NEW COM NEW DUK	DUK	813,926	$103.0m1.89%	1.89%	Added +36.4k	+36,396 4.7%
23	NISOURCE INC COM NI	NI	2,164,103	$102.9m1.89%	1.89%	Added +66.1k	+66,105 3.1%
24	META PLATFORMS INC CL A META	META	181,943	$102.5m1.88%	1.88%	Added +85.7k	+85,677 89.0%
25	ENBRIDGE INC COM ENB	ENB	1,878,276	$101.8m1.87%	1.87%	Reduced -17.4k	-17,446 -0.9%
26	MAPLEBEAR INC COM CART	CART	2,140,349	$101.3m1.86%	1.86%	Reduced -219.2k	-219,224 -9.3%
27	TOTALENERGIES SE ACT TTE	TTE	1,225,885	$95.3m1.75%	1.75%	Reduced -204.3k	-204,331 -14.3%
28	BOOKING HOLDINGS INC COM BKNG	BKNG	530,062	$94.2m1.73%	1.73%	New
29	EVERGY INC COM EVRG	EVRG	972,170	$84.0m1.54%	1.54%	Reduced -11.2k	-11,218 -1.1%
30	BRINKER INTL INC COM EAT	EAT	472,737	$79.4m1.46%	1.46%	Reduced -114.2k	-114,231 -19.5%
31	SALESFORCE INC COM CRM	CRM	502,872	$78.8m1.44%	1.44%	Added +43.8k	+43,826 9.6%
32	DISNEY WALT CO COM DIS	DIS	801,100	$77.1m1.41%	1.41%	Added +143.6k	+143,579 21.8%
33	QORVO INC COM QRVO	QRVO	815,441	$76.1m1.39%	1.39%	New
34	AMERICAN TOWER CORP NEW COM AMT	AMT	448,574	$73.4m1.34%	1.34%	Added +11.6k	+11,628 2.7%
35	SCHLUMBERGER LTD COM STK SLB	SLB	1,576,411	$73.3m1.34%	1.34%	Added +129.5k	+129,476 8.9%
36	VALARIS LTD CL A VAL	VAL	996,450	$72.3m1.33%	1.33%	Added +225.5k	+225,458 29.2%
37	ALLY FINL INC COM ALLY	ALLY	1,563,322	$71.8m1.32%	1.32%	Reduced -717.7k	-717,691 -31.5%
38	GLOBUS MED INC CL A GMED	GMED	905,984	$71.6m1.31%	1.31%	Added +8.4k	+8,377 0.9%
39	KEURIG DR PEPPER INC COM KDP	KDP	2,027,028	$66.3m1.22%	1.22%	Reduced -321.6k	-321,553 -13.7%
40	NU HLDGS LTD ORD SHS CL A NU	NU	4,689,670	$62.7m1.15%	1.15%	Added +496.7k	+496,718 11.8%
41	VENTAS INC COM VTR	VTR	592,870	$52.6m0.96%	0.96%	Reduced -199.5k	-199,508 -25.2%
42	ELDORADO GOLD CORP NEW COM EGO	EGO	1,678,313	$52.2m0.96%	0.96%	Added +626.2k	+626,171 59.5%
43	PROGRESSIVE CORP COM PGR	PGR	228,468	$49.9m0.91%	0.91%	Reduced -65.6k	-65,644 -22.3%
44	ALNYLAM PHARMACEUTICALS INC COM ALNY	ALNY	163,533	$49.2m0.90%	0.90%	Added +18.2k	+18,223 12.5%
45	CALIFORNIA WTR SVC GROUP COM CWT	CWT	753,386	$36.7m0.67%	0.67%	New
46	DYNATRACE INC COM NEW DT	DT	720,414	$31.6m0.58%	0.58%	New
47	HDFC BANK LTD SPONSORED ADS HDB	HDB	1,138,172	$29.4m0.54%	0.54%	Added +706.2k	+706,234 163.5%
48	TE CONNECTIVITY PLC ORD SHS TEL	TEL	119,417	$24.1m0.44%	0.44%	New
49	OWENS CORNING NEW COM OC	OC	148,726	$23.6m0.43%	0.43%	Reduced -35.7k	-35,730 -19.4%
50	JOHNSON & JOHNSON COM JNJ	JNJ	91,816	$23.3m0.43%	0.43%	Reduced -9.2k	-9,207 -9.1%
51	NEWMONT CORP COM NEM	NEM	243,496	$22.7m0.42%	0.42%	Unchanged
52	PERFORMANCE FOOD GROUP CO COM PFGC	PFGC	183,730	$20.5m0.38%	0.38%	New
53	HONEYWELL INTL INC COM HON	HON	87,115	$19.5m0.36%	0.36%	New
54	WORKDAY INC CL A WDAY	WDAY	158,768	$19.4m0.36%	0.36%	Reduced -465.5k	-465,543 -74.6%
55	SKYWORKS SOLUTIONS INC COM SWKS	SWKS	280,415	$19.0m0.35%	0.35%	New
56	GLOBANT S A COM GLOB	GLOB	651,466	$18.9m0.35%	0.35%	Added +277.4k	+277,446 74.2%
57	BIOGEN INC COM BIIB	BIIB	86,827	$18.8m0.34%	0.34%	New
58	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	39,222	$18.7m0.34%	0.34%	Reduced -2.7k	-2,722 -6.5%
59	HONEYWELL AEROSPACE INC COM HONA	HONA	81,593	$18.0m0.33%	0.33%	New
60	NORWEGIAN CRUISE LINE HLDG L SHS NCLH	NCLH	824,018	$17.4m0.32%	0.32%	New
61	QUEST DIAGNOSTICS INC COM DGX	DGX	77,785	$16.5m0.30%	0.30%	Reduced -84.8k	-84,804 -52.2%
62	ROKU INC COM CL A ROKU	ROKU	112,797	$15.6m0.29%	0.29%	Added +83.3k	+83,350 283.1%
63	GRAB HOLDINGS LIMITED CLASS A ORD GRAB	GRAB	2,684,160	$10.1m0.19%	0.19%	New
64	LIBERTY ENERGY INC COM CL A LBRT	LBRT	327,961	$8.6m0.16%	0.16%	New
65	HUMACYTE INC COM HUMA	HUMA	10,103,647	$7.9m0.14%	0.14%	Added +4.4m	+4,379,897 76.5%
66	BANDWIDTH INC COM CL A BAND	BAND	82,551	$5.2m0.10%	0.10%	Reduced -66.4k	-66,354 -44.6%
67	CHIME FINL INC COM SHS CL A CHYM	CHYM	191,757	$3.9m0.07%	0.07%	Added +35.9k	+35,939 23.1%
68	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	35,161	$3.4m0.06%	0.06%	Reduced -47	-47 -0.1%
69	STRUCTURE THERAPEUTICS INC SPONSORED ADS GPCR	GPCR	51,262	$2.8m0.05%	0.05%	Added +5.9k	+5,901 13.0%
70	NAVAN INC CL A NAVN	NAVN	114,908	$2.6m0.05%	0.05%	Reduced -19.4k	-19,397 -14.4%
71	SEADRILL LTD COM SDRL	SDRL	55,422	$2.1m0.04%	0.04%	Added +30.6k	+30,592 123.2%
72	FAIR ISAAC CORP COM FICO	FICO	1,751	$2.1m0.04%	0.04%	Added +689	+689 64.9%
73	FERMI INC COM FRMI	FRMI	209,485	$1.9m0.04%	0.04%	Added +133.6k	+133,611 176.1%
74	ZILLOW GROUP INC CL C CAP STK Z	Z	51,960	$1.6m0.03%	0.03%	New
75	TARGET HOSPITALITY CORP COM TH	TH	73,157	$1.5m0.03%	0.03%	Reduced -48.8k	-48,755 -40.0%
76	BLOCK INC CL A XYZ	XYZ	18,464	$1.4m0.03%	0.03%	Added +3.0k	+2,996 19.4%
77	KASPI KZ JSC SPONSORED ADS KSPI	KSPI	15,278	$1.3m0.02%	0.02%	Reduced -299	-299 -1.9%
78	AMERICAN COASTAL INS CORP COM ACIC	ACIC	113,184	$1.3m0.02%	0.02%	Reduced -43.4k	-43,383 -27.7%
79	UBS GROUP AG SHS UBS	UBS	24,604	$1.2m0.02%	0.02%	Reduced -562.5k	-562,450 -95.8%
80	BRUKER CORP COM BRKR	BRKR	20,145	$1.2m0.02%	0.02%	Reduced -3.2k	-3,168 -13.6%
81	VEEVA SYS INC CL A COM VEEV	VEEV	6,776	$1.2m0.02%	0.02%	New
82	SIMILARWEB LTD SHS SMWB	SMWB	145,601	$892.5k0.02%	0.02%	New
83	SCHRODINGER INC COM SDGR	SDGR	52,970	$860.8k0.02%	0.02%	Reduced -4.0k	-4,019 -7.0%
84	MAGNITE INC COM MGNI	MGNI	41,477	$787.2k0.01%	0.01%	New
85	ZILLOW GROUP INC CL A ZG	ZG	19,900	$624.3k0.01%	0.01%	New
86	CONTROLADORA VUELA COMP DE A SPON ADR RP 10 VLRS	VLRS	65,647	$615.1k0.01%	0.01%	Reduced -172.7k	-172,675 -72.5%
87	KRANESHARES TRUST CSI CHI INTERNET KWEB	KWEB	10,365	$604.1k0.01%	0.01%	Added +8.2k	+8,159 369.9%
88	CERTARA INC COM CERT	CERT	83,677	$548.1k0.01%	0.01%	Added +22.5k	+22,545 36.9%
89	SUZANO S A SPON ADS SUZ	SUZ	70,035	$543.5k0.01%	0.01%	Reduced -187.1k	-187,095 -72.8%
90	PROCORE TECHNOLOGIES INC COM PCOR	PCOR	12,048	$489.4k0.01%	0.01%	Reduced -466.7k	-466,698 -97.5%
91	INNIO NV ORDINARY SHARES INIO	INIO	10,000	$395.5k0.01%	0.01%	New
92	PDD HOLDINGS INC SPONSORED ADS PDD	PDD	4,974	$379.4k0.01%	0.01%	Reduced -61.8k	-61,791 -92.5%
93	ENDAVA PLC ADS DAVA	DAVA	132,710	$375.6k0.01%	0.01%	Added +609	+609 0.5%
94	ASTRAZENECA PLC ORD AZN	AZN	1,466	$274.4k0.01%	0.01%	New
95	TIDEWATER INC NEW COM TDW	TDW	2,889	$192.5k0.00%	0.00%	Unchanged
96	ARGENX SE SPONSORED ADR ARGX	ARGX	187	$173.5k0.00%	0.00%	Added +137	+137 274.0%
97	STRYKER CORPORATION COM SYK	SYK	541	$170.3k0.00%	0.00%	Added +179	+179 49.5%
98	IMMUNOME INC COM IMNM	IMNM	7,971	$168.9k0.00%	0.00%	Added +153	+153 2.0%
99	CENCORA INC COM COR	COR	531	$150.3k0.00%	0.00%	Added +198	+198 59.5%
100	ELI LILLY & CO COM LLY	LLY	122	$146.3k0.00%	0.00%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
HONEYWELL INTL INC		80,608	$36.4m80.6k shares
ORACLE CORP ORCL	ORCL	212,117	$31.2m212.1k shares
AMERICOLD REALTY TRUST INC COLD	COLD	1,159,803	$13.3m1.2m shares
OTIS WORLDWIDE CORP OTIS	OTIS	61,687	$4.8m61.7k shares
POWER SOLUTIONS INTL INC PSIX	PSIX	52,877	$3.2m52.9k shares
AUTOZONE INC AZO	AZO	640	$2.2m640 shares
ALCON AG ALC	ALC	26,559	$2.0m26.6k shares
LSB INDS INC LXU	LXU	101,927	$1.5m101.9k shares
STONECO LTD STNE	STNE	45,575	$643.5k45.6k shares
LEGALZOOM COM INC LZ	LZ	80,268	$455.1k80.3k shares
CLIPPER RLTY INC CLPR	CLPR	125,668	$379.5k125.7k shares
VNET GROUP INC VNET	VNET	13,915	$116.7k13.9k shares
GILEAD SCIENCES INC GILD	GILD	557	$77.6k557 shares
IRHYTHM TECHNOLOGIES INC IRTC	IRTC	655	$77.3k655 shares
REGENERON PHARMACEUTICALS REGN	REGN	97	$74.9k97 shares
BOSTON SCIENTIFIC CORP BSX	BSX	1,128	$70.8k1.1k shares
TEVA PHARMACEUTICAL INDS LTD		2,234	$67.3k2.2k shares
TARSUS PHARMACEUTICALS INC TARS	TARS	555	$38.9k555 shares
DEXCOM INC DXCM	DXCM	554	$34.8k554 shares
IDEAYA BIOSCIENCES INC IDYA	IDYA	917	$30.6k917 shares
DISC MEDICINE INC IRON	IRON	476	$30.4k476 shares
NUVALENT INC		275	$28.2k275 shares
TERNS PHARMACEUTICALS INC		455	$24.0k455 shares
VIRIDIAN THERAPEUTICS INC VRDN	VRDN	834	$16.3k834 shares
ORIC PHARMACEUTICALS INC ORIC	ORIC	1,278	$16.2k1.3k shares