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Hedge fund

Antipodes Partners Ltd

13F for the quarter to June 30, 2026, filed August 6, 2026 · SEC CIK 1652442

Reported value
$5.5bn
95% in companies we cover
Positions we cover
119
Largest AMZN 4.4%
Copy, a year
+15.5%
S&P 500 +14.8%
Copy Sharpe ratio
0.71
S&P 500 0.72

How copying its 13F would have done

$10.0k$20.0k$40.0k 20172019202120232025 $41.1k$38.8k
CopyS&P 500 $10,000 copying Antipodes Partners Ltd's filed holdings in companies we cover from January 13, 2017, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −33.5% (S&P 500 −31.8%); beta 0.96; alpha +1.3% a year (t = 0.47); last 12 months +16.8% against +12.1%.

Reported value by quarter

Antipodes Partners Ltd: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $2B $4B $6B Reported value, 2016-12-31: $444.7M Reported value, 2017-03-31: $565.3M Reported value, 2017-06-30: $759.5M Reported value, 2017-09-30: $1.4B Reported value, 2017-12-31: $1.7B Reported value, 2018-03-31: $2.2B Reported value, 2018-06-30: $2.1B Reported value, 2018-09-30: $2.2B Reported value, 2018-12-31: $2B Reported value, 2019-03-31: $2B Reported value, 2019-06-30: $2.2B Reported value, 2019-09-30: $2.1B Reported value, 2019-12-31: $2.2B Reported value, 2020-03-31: $1.9B Reported value, 2020-06-30: $2.2B Reported value, 2020-09-30: $2.2B Reported value, 2020-12-31: $2.3B Reported value, 2021-03-31: $2.5B Reported value, 2021-06-30: $2.8B Reported value, 2021-09-30: $2.9B Reported value, 2021-12-31: $5.6B Reported value, 2022-03-31: $2.8B Reported value, 2022-06-30: $2.4B Reported value, 2022-09-30: $2.5B Reported value, 2022-12-31: $2.8B Reported value, 2023-03-31: $2.9M Reported value, 2023-06-30: $2.9M Reported value, 2023-09-30: $3.1M Reported value, 2023-12-31: $3.2M Reported value, 2024-03-31: $3.2M Reported value, 2024-06-30: $2.8B Reported value, 2024-09-30: $2.9B Reported value, 2024-12-31: $2.9B Reported value, 2025-03-31: $3.2B Reported value, 2025-06-30: $3.2B Reported value, 2025-09-30: $4.5B Reported value, 2025-12-31: $4.8B Reported value, 2026-03-31: $5.2B Reported value, 2026-06-30: $5.5B 2016-12-31 2018-12-31 2020-12-31 2022-12-31 2024-12-31 2026-06-30 $5.5B
View chart data
Period Reported value
2016-12-31 $444.7M
2017-03-31 $565.3M
2017-06-30 $759.5M
2017-09-30 $1.4B
2017-12-31 $1.7B
2018-03-31 $2.2B
2018-06-30 $2.1B
2018-09-30 $2.2B
2018-12-31 $2B
2019-03-31 $2B
2019-06-30 $2.2B
2019-09-30 $2.1B
2019-12-31 $2.2B
2020-03-31 $1.9B
2020-06-30 $2.2B
2020-09-30 $2.2B
2020-12-31 $2.3B
2021-03-31 $2.5B
2021-06-30 $2.8B
2021-09-30 $2.9B
2021-12-31 $5.6B
2022-03-31 $2.8B
2022-06-30 $2.4B
2022-09-30 $2.5B
2022-12-31 $2.8B
2023-03-31 $2.9M
2023-06-30 $2.9M
2023-09-30 $3.1M
2023-12-31 $3.2M
2024-03-31 $3.2M
2024-06-30 $2.8B
2024-09-30 $2.9B
2024-12-31 $2.9B
2025-03-31 $3.2B
2025-06-30 $3.2B
2025-09-30 $4.5B
2025-12-31 $4.8B
2026-03-31 $5.2B
2026-06-30 $5.5B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
AMZNAmazon4.35%$237.5m996.5K−16.7% Reduced
AEPAmerican Electric Power4.26%$232.5m1.70M−6.1% Reduced
COFCapital One3.56%$194.1m967.6K+29.6% Added
NVDANVIDIA Corporation3.42%$186.8m933.4K+31.3% Added
EXCExelon3.40%$185.4m3.98M+5.7% Added
FERFerrovial N.V.3.36%$183.6m2.68M+3.2% Added
BKDBrookdale Senior Living Inc.3.27%$178.5m11.09M−2.8% Reduced
SRESempra3.01%$164.4m1.77M+2.9% Added
MSFTMicrosoft Corporation2.70%$147.2m394.7K−25.8% Reduced
AEEAmeren2.66%$145.3m1.29M+1.1% Added
MRKMerck & Co.2.58%$141.0m1.10M−23.9% Reduced
BBarrick Mining Corp2.58%$141.0m3.84M−5.4% Reduced
KEYSKeysight Technologies2.40%$131.1m374.6K−1.1% Reduced
CCICrown Castle2.32%$126.8m1.67M+3.1% Added
WTRGEssential Utilities, Inc.2.29%$125.1m3.27M+8.2% Added
ETREntergy2.29%$124.7m1.09M−6.6% Reduced
HCAHCA Healthcare2.07%$113.0m289.9K−0.5% Reduced
DDominion Energy2.02%$110.1m1.61M+0.4%
HTOH2o America1.96%$106.9m1.76M−21.8% Reduced
LNGCheniere Energy, Inc.1.91%$104.0m435.2K+32.0% Added
DUKDuke Energy1.89%$103.0m813.9K+4.7% Added
NINiSource1.89%$102.9m2.16M+3.2% Added
METAMeta Platforms1.88%$102.5m181.9K+89.0% Added
ENBEnbridge Inc1.87%$101.8m1.88M−0.9% Reduced
CARTMaplebear Inc.1.86%$101.3m2.14M−9.3% Reduced
BKNGBooking Holdings1.73%$94.2m530.1KNew
EVRGEvergy1.54%$84.0m972.2K−1.1% Reduced
EATBrinker International, Inc1.46%$79.4m472.7K−19.5% Reduced
CRMSalesforce1.44%$78.8m502.9K+9.5% Added
DISThe Walt Disney Company1.41%$77.1m801.1K+21.8% Added
AMTAmerican Tower1.34%$73.4m448.6K+2.7% Added
SLBSchlumberger1.34%$73.3m1.58M+8.9% Added
VALValaris Ltd1.32%$72.3m996.5K+29.2% Added
ALLYAlly Financial Inc.1.32%$71.8m1.56M−31.5% Reduced
GMEDGlobus Medical Inc1.31%$71.6m906.0K+0.9% Added
KDPKeurig Dr Pepper1.22%$66.3m2.03M−13.7% Reduced
NUNu Holdings Ltd.1.15%$62.7m4.69M+11.8% Added
VTRVentas0.96%$52.6m592.9K−25.2% Reduced
EGOEldorado Gold Corp0.96%$52.2m1.68M+59.5% Added
PGRProgressive Corporation0.91%$49.9m228.5K−22.3% Reduced
ALNYAlnylam Pharmaceuticals, Inc.0.90%$49.2m163.5K+12.5% Added
CWTCalifornia Water Service Group0.67%$36.7m753.4KNew
DTDynatrace, Inc.0.58%$31.6m720.4KNew
HDBHdfc Bank LTD0.54%$29.4m1.14M+163.5% Added
TELTE Connectivity0.44%$24.1m119.4KNew
OCOwens Corning0.43%$23.6m148.7K−19.4% Reduced
JNJJohnson & Johnson0.43%$23.3m91.8K−9.1% Reduced
NEMNewmont0.42%$22.7m243.5K0.0%
PFGCPerformance Food Group Co0.38%$20.5m183.7KNew
HONHoneywell Technologies0.36%$19.5m87.1KNew
WDAYWorkday, Inc.0.36%$19.4m158.8K−74.6% Reduced
SWKSSkyworks Solutions, Inc.0.35%$19.0m280.4KNew
GLOBGlobant S.a.0.34%$18.9m651.5K+74.2% Added
BIIBBiogen0.34%$18.8m86.8KNew
TSMTaiwan Semiconductor Manufacturing Co LTD0.34%$18.7m39.2K−6.5% Reduced
HONAHoneywell Aerospace0.33%$18.0m81.6KNew
NCLHNorwegian Cruise Line Holdings0.32%$17.4m824.0KNew
DGXQuest Diagnostics0.30%$16.5m77.8K−52.2% Reduced
ROKURoku, Inc0.28%$15.6m112.8K+283.1% Added
GRABGrab Holdings Ltd0.18%$10.1m2.68MNew
LBRTLiberty Energy Inc.0.16%$8.6m328.0KNew
HUMAHumacyte, Inc.0.14%$7.9m10.10M+76.5% Added
BANDBandwidth Inc.0.10%$5.2m82.6K−44.6% Reduced
CHYMChime Financial, Inc.0.07%$3.9m191.8K+23.1% Added
BABAAlibaba Group Holding Ltd0.06%$3.4m35.2K−0.1%
GPCRStructure Therapeutics Inc.0.05%$2.8m51.3K+13.0% Added
NAVNNavan, Inc.0.05%$2.6m114.9K−14.4% Reduced
SDRLSeadrill Ltd0.04%$2.1m55.4K+123.2% Added
FICOFair Isaac0.04%$2.1m1.8K+64.9% Added
FRMIFermi Inc.0.04%$1.9m209.5K+176.1% Added
ZZillow Group, Inc.0.03%$1.6m52.0KNew
THTarget Hospitality Corp.0.03%$1.5m73.2K−40.0% Reduced
XYZBlock, Inc.0.03%$1.4m18.5K+19.4% Added
ACICAmerican Coastal Insurance Corp0.02%$1.3m113.2K−27.7% Reduced
UBSUBS Group AG0.02%$1.2m24.6K−95.8% Reduced
BRKRBruker Corp0.02%$1.2m20.1K−13.6% Reduced
VEEVVeeva Systems Inc0.02%$1.2m6.8KNew
SMWBSimilarweb LTD.0.02%$892,534145.6KNew
SDGRSchrodinger, Inc.0.02%$860,76353.0K−7.1% Reduced
MGNIMagnite, Inc.0.01%$787,23341.5KNew
CERTCertara, Inc.0.01%$548,08483.7K+36.9% Added
PCORProcore Technologies, Inc.0.01%$489,39012.0K−97.5% Reduced
INIOInnio N.V.0.01%$395,50010.0KNew
PDDPDD Holdings Inc.0.01%$379,4175.0K−92.5% Reduced
AZNAstrazeneca PLC0.01%$274,3541.5KNew
TDWTidewater Inc0.00%$192,4942.9K0.0%
ARGXArgenx SE0.00%$173,493187+274.0% Added
SYKStryker Corporation0.00%$170,328541+49.4% Added
IMNMImmunome Inc.0.00%$168,9058.0K+2.0% Added
CORCencora0.00%$150,262531+59.5% Added
LLYLilly (Eli)0.00%$146,330122New
STESteris0.00%$128,448610−0.3%
VRTXVertex Pharmaceuticals0.00%$116,732235+85.0% Added
WATWaters Corporation0.00%$103,136275−25.7% Reduced
JCIJohnson Controls0.00%$101,254693−34.5% Reduced
UNHUnitedHealth Group0.00%$94,764228New
NTRANatera, Inc.0.00%$87,407322+15.0% Added
ESTAEstablishment Labs Holdings Inc.0.00%$82,721964New
SIBNSi-bone, Inc.0.00%$81,0295.0K−10.8% Reduced
ABTAbbott Laboratories0.00%$66,603734New
AVAAvista Corp0.00%$64,0241.6K−34.5% Reduced
ADSKAutodesk, Inc.0.00%$59,687307−97.7% Reduced
GEGE Aerospace0.00%$54,191145+2.8% Added
IRIngersoll Rand0.00%$50,752619−34.4% Reduced
MYRGMYR Group Inc.0.00%$48,53997−68.8% Reduced
HUMHumana0.00%$44,489112New
ELANElanco Animal Health Inc0.00%$42,3291.7KNew
ORAOrmat Technologies, Inc.0.00%$38,551354−34.4% Reduced
THCTenet Healthcare Corp0.00%$37,977203New
DNTHDianthus Therapeutics, Inc.0.00%$36,945379+4.1% Added
QGENQiagen N.V.0.00%$36,754940−52.7% Reduced
MASS908 Devices Inc.0.00%$34,7484.0K−9.3% Reduced
EWEdwards Lifesciences0.00%$34,284379New
CICigna0.00%$34,184124New
BIOBio-rad Laboratories, Inc.0.00%$33,178113New
MCKMcKesson0.00%$32,49143New
TNGXTango Therapeutics, Inc.0.00%$32,4171.0K−36.1% Reduced
ANLAdlai Nortye Group Ltd.0.00%$18,8831.6K−19.9% Reduced
RLMDRelmada Therapeutics, Inc.0.00%$16,7052.4K−20.5% Reduced
CompanyBought (value)Shares
BKNGBooking Holdings$94.2m530.1K
METAMeta Platforms$48.3m85.7K
NVDANVIDIA Corporation$44.6m222.8K
COFCapital One$44.3m220.9K
CWTCalifornia Water Service Group$36.7m753.4K
DTDynatrace, Inc.$31.6m720.4K
LNGCheniere Energy, Inc.$25.2m105.4K
TELTE Connectivity$24.1m119.4K
PFGCPerformance Food Group Co$20.5m183.7K
HONHoneywell Technologies$19.5m87.1K
EGOEldorado Gold Corp$19.5m626.2K
SWKSSkyworks Solutions, Inc.$19.0m280.4K
BIIBBiogen$18.8m86.8K
HDBHdfc Bank LTD$18.2m706.2K
HONAHoneywell Aerospace$18.0m81.6K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
WDAYWorkday, Inc.−$57.0m−465.5K
MSFTMicrosoft Corporation−$51.1m−137.0K
AMZNAmazon−$47.7m−200.3K
MRKMerck & Co.−$44.2m−343.8K
ALLYAlly Financial Inc.−$33.0m−717.7K
ORCLOracle Corporation−$31.2m−212.1K
HTOH2o America−$29.7m−489.4K
UBSUBS Group AG−$27.9m−562.5K
EATBrinker International, Inc−$19.2m−114.2K
PCORProcore Technologies, Inc.−$19.0m−466.7K
DGXQuest Diagnostics−$18.0m−84.8K
VTRVentas−$17.7m−199.5K
AEPAmerican Electric Power−$15.1m−110.7K
PGRProgressive Corporation−$14.3m−65.6K
COLDAmericold Realty Trust−$13.3m−1.16M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
ORCLOracle Corporation$31.2m212.1K
COLDAmericold Realty Trust$13.3m1.16M
OTISOtis Worldwide$4.8m61.7K
PSIXPower Solutions International, Inc.$3.2m52.9K
AZOAutoZone$2.2m640
ALCAlcon Inc$2.0m26.6K
LXULSB Industries, Inc.$1.5m101.9K
STNEStoneco Ltd.$643,51945.6K
LZLegalzoom.com, Inc.$455,12080.3K
CLPRClipper Realty Inc.$379,517125.7K
VNETVnet Group, Inc.$116,74713.9K
GILDGilead Sciences$77,629557
IRTCIrhythm Holdings, Inc.$77,303655
REGNRegeneron Pharmaceuticals$74,94697
BSXBoston Scientific$70,7821.1K
TEVATeva Pharmaceutical Industries LTD$67,2882.2K
TARSTarsus Pharmaceuticals, Inc.$38,933555
DXCMDexcom$34,791554
IDYAIdeaya Biosciences, Inc.$30,554917
IRONDisc Medicine, Inc.$30,435476
VRDNViridian Therapeutics, Inc.\de$16,313834
ORICOric Pharmaceuticals, Inc.$16,1921.3K
BIOABioage Labs, Inc.$16,003915
CABACabaletta Bio, Inc.$15,1075.6K
  • Utilities29.5%
  • Technology13.5%
  • Health Care12.2%
  • Consumer Discretionary8.4%
  • Financials8.1%
  • Energy7.0%
  • Real Estate5.0%
  • Industrials4.8%
  • Materials4.2%
  • Communication Services3.8%
  • Consumer Staples3.6%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestJanuary 13, 2017 to November 2, 2026+15.5%+14.8%0.710.72−33.5%0.96
2018 onwardsJanuary 5, 2018 to November 2, 2026+13.6%+13.9%0.600.64−33.5%0.96
Last three yearsNovember 3, 2023 to November 2, 2026+23.9%+21.8%1.311.16−13.9%0.79
Last yearNovember 7, 2025 to November 2, 2026+17.2%+14.2%1.080.84−6.9%0.44

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.