ANTIPODES PARTNERS Ltd

CIK 0001652442 · Q1 2026

13F Equity AUM

$5.2B

+9.1% QoQ

Positions

126

-1 QoQ

AUM Rank

#989

Top 8%

Skill Alpha (FF)

+3.7%/yr^ns

No Clear Edge

Rank #799 · Top 10%

vs S&P -0.2%/yr (unadj.)

Quarters Tracked

~9 years

Portfolio Concentration

Top 5: 20.1%Top 10: 35.3%Top 20: 59.7%

AMZN4.8%

AEP4.6%

MSFT3.8%

PEO3.5%

MRK3.3%

SRE3.2%

FER3.2%

B3.2%

B7S3.0%

AEE2.7%

Others (116)64.7%

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

Sector Allocation

Utilities28.8%

Technology13.4%

Healthcare12.7%

Energy9.2%

Consumer Cyclical8.4%

Financial Services8.1%

Industrials4.5%

Basic Materials3.8%

Other11.2%

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

Position Sizing

Positions: 126Median: 0.05%Avg: 0.79%

0–0.5%

78(3.6%)

0.5–1%

7(4.6%)

1–3%

32(59.2%)

3–5%

9(32.6%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 124Unique: 2vs 20 funds

1.7%Low

126

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)

BlackRock, Inc.

3.1%

MORGAN STANLEY

2.3%

BANK OF AMERICA CORP /DE/

2.6%

STATE STREET CORP

3.4%

GEODE CAPITAL MANAGEMENT, LLC

3.3%

VANGUARD CAPITAL MANAGEMENT LLC

3.3%

JPMORGAN CHASE & CO

2.3%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.6%

FMR LLC

3.5%

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

New23Increased48Decreased47Exited24

New Positions

NVDA2.4%

+711K

DIS1.2%

+658K

PGR1.1%

+294K

OC0.4%

+184K

BAND0.1%

+149K

LXU0.0%

+102K

NAVN0.0%

+134K

FICO0.0%

+1K

TH0.0%

+122K

XYZ0.0%

+15K

Increased

HUMA0.1%

+5.7M(+49039%)

HTO2.5%

+1.9M(+486%)

CART1.7%

+1.6M(+209%)

NU1.2%

+785K(+23%)

SLB1.4%

+749K(+107%)

WDAY1.6%

+435K(+229%)

AMZN4.8%

+220K(+23%)

8CW2.5%

+200K(+14%)

FER3.2%

+187K(+8%)

SRE3.2%

+121K(+8%)

Decreased

COLDEUR0.3%

-1,446,375(-56%)

ELD0.7%

-613,228(-37%)

CHYM0.1%

-466,347(-75%)

B3.2%

-420,190(-9%)

PCOR0.5%

-379,065(-44%)

UBS0.4%

-303,378(-34%)

WTRG2.3%

-256,100(-8%)

ALLY1.7%

-196,099(-8%)

PSIX0.1%

-175,536(-77%)

D1.9%

-173,511(-10%)

Exited

-293,078

-335,039

-416,520

-423,789

-1,024,963

-145,423

-257,244

-56,694

-27,433

-24,831

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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