Platinum Asset Management
Platinium AM
Global Large-cap
Dec 2024 → Jun 2025
Our archive holds 3 letters from this strategy, behind 17 investment theses and positions in 42 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in 2 years — follow all of Platinum Asset Management for every strategy.
What it bought and sold
We trimmed several holdings that enjoyed strong share price appreciation during the quarter. These included China Merchants Bank, Coway, SK hynix, and TSMC.
We used the narrow window of opportunity opened by this disruption to initiate two new positions: Wingstop and IDEXX Laboratories.
Early in the quarter, we initiated a position in Diploma, a UK-based distributor of specialised industrial products including controls, seals and life sciences equipment.
- New positionEO Technics Co LtdJun 2025
We initiated two new positions during the quarter, Mayora Indah, a high-quality Indonesian consumer snack foods company and EO Technics, a Korean laser company serving the technology industry.
The Fund has been increasing its position in Blueprint competitor Cogent Biosciences as we feel its drug bezuclastinib is competitive despite worries about its side effect profile.
We visited Samsung and SK hynix, two large holdings in the Platinum Asia Fund,” says Cameron Robertson.
We used the narrow window of opportunity opened by this disruption to initiate two new positions: Wingstop and IDEXX Laboratories.
We exited our position in Chinese property developer China Vanke.
We visited Samsung and SK hynix, two large holdings in the Platinum Asia Fund,” says Cameron Robertson.
We trimmed several holdings that enjoyed strong share price appreciation during the quarter. These included China Merchants Bank, Coway, SK hynix, and TSMC.
No stock underscores this rise more than Nintendo, which became our largest holding in the quarter.
We initiated two new positions during the quarter, Mayora Indah, a high-quality Indonesian consumer snack foods company and EO Technics, a Korean laser company serving the technology industry.
We took advantage of a large price fall to add to our position in the company, a leading player in dermatology.
Also held
Its investment theses
- DiplomaJun 2025Diploma is a UK-based distributor of specialized industrial products with strong growth potential, high margins, and a disciplined acquisition strategy.
- IDEXX Laboratories, Inc.Jun 2025IDEXX is a leading global provider of veterinary diagnostics and software, enabling veterinarians to deliver rapid, in-clinic testing while generating continuous revenue through high-margin consumables.
- WingstopJun 2025Wingstop is a fast-casual restaurant chain focused on flavorful chicken wings with a simple menu, offering strong store productivity and growth potential.
- DMG MoriMar 2025DMG Mori is poised for growth as EU manufacturing capital expenditure recovers, benefiting from its strong foothold in high-end machine tools essential for industries like aerospace and defense.
- HD Hyundai Marine SolutionMar 2025HD Hyundai Marine Solution is an undervalued leader in ship after-market servicing and a monopoly parts provider for Hyundai engines, presenting an attractive investment opportunity.
- NestléMar 2025Nestlé is strategically positioned to benefit from temporary market weaknesses and has potential for growth despite concerns over GLP-1 products and rising commodity prices.
- SonyMar 2025Sony is poised for a strong year in 2025, benefiting from new mega-title game launches and a successful synergy between its hardware and entertainment IPs.
- FanucDec 2024Fanuc is poised for growth as the US market prepares for a significant increase in manufacturing automation investments, driven by advancements in AI-capable robotics and supportive government policies.
- GaldermaDec 2024Galderma is our largest single holding, showing strong growth in injectable aesthetics and skincare, with the potential for significant earnings boost from its newly approved eczema drug, Nemolizumab, set to launch in 2025.
- KuaishouDec 2024Kuaishou is a highly engaged Chinese short-video platform with a significant user base and improving profitability, making it materially undervalued.