9AT: CALEDONIA (PRIVATE) INVESTMENTS PTY LIMITED

CALEDONIA (PRIVATE) INVESTMENTS PTY LIMITED

other names

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Adviser Profile

As of Date	01/06/2025
Adviser Type - Large advisory firm - Outside the United States
Number of Employees	30 -11.76%
of those in investment advisory functions	10 -23.08%
Registration	SEC, Approved, 04/11/2014

AUM^*	8,510,629,369 7.01%
of that, discretionary	7,662,109,965 7.40%
Private Fund GAV^*	0
Avg Account Size	193,423,395 -5.15%
% High Net Worth	67.39% 9.11%
SMA’s	Yes
Private Funds	0
Contact Info	011 xxxxxxx
Websites

Client Types

- High net worth individuals
- Pooled investment vehicles
- Other

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Reported AUM

16B 14B 12B 9B 7B 5B 2B

2015 2016 2017 2018 2019 2020 2021 2022 2023

Discretionary

Non-discretionary

Private Funds

GAV Count

Employees

Top Holdings

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker98954M200	Stock NameZILLOW GROUP INC	$ Position$2,127,696,456	% Position35.00%	$ Change-20.00%	# Change-13.00%
Stck TickerG3643J108	Stock NameFLUTTER ENTMT PLC	$ Position$1,969,128,646	% Position32.00%	$ Change-30.00%	# Change-18.00%
Stck Ticker98954M101	Stock NameZILLOW GROUP INC	$ Position$863,940,516	% Position14.00%	$ Change-15.00%	# Change-10.00%
Stck Ticker80874P109	Stock NameLIGHT & WONDER INC	$ Position$224,475,452	% Position4.00%	$ Change-5.00%	# Change-5.00%
Stck Ticker13321L108	Stock NameCAMECO CORP	$ Position$186,445,745	% Position3.00%	$ Change	# Change
Stck Ticker531229755	Stock NameLIBERTY MEDIA CORP DEL	$ Position$176,390,887	% Position3.00%	$ Change-35.00%	# Change-33.00%
Stck TickerG7709Q104	Stock NameROYALTY PHARMA PLC	$ Position$159,216,471	% Position3.00%	$ Change	# Change
Stck TickerG3934V109	Stock NameGENIUS SPORTS LIMITED	$ Position$150,352,973	% Position2.00%	$ Change-5.00%	# Change-18.00%
Stck Ticker22266M104	Stock NameCOURSERA INC	$ Position$52,778,109	% Position1.00%	$ Change-23.00%	# Change-1.00%
Stck Ticker902685106	Stock NameUDEMY INC	$ Position$86,753,424	% Position1.00%	$ Change-9.00%	# Change-3.00%

Brochure Summary

Overview

Caledonia is an SEC-registered investment adviser with its principal place of business in Sydney, Australia. Caledonia was founded in 1992. Caledonia’s principal owner is Caledonia Holdings Co Pty Limited. (For purposes of this Brochure, principal owners include those with at least a 25% interest in Caledonia). Caledonia provides discretionary investment management services, directly or through its affiliates, to U.S. and to non-U.S. pooled investment vehicles and single investor funds (“Funds”), as well as to separately managed account clients (“SMAs”) (the “Funds” and “SMAs” collectively together are, the “Clients”). The investment objective of Caledonia is to seek high absolute returns over a long-term horizon by investing on a long/short basis primarily in corporate equity securities, predominantly listed securities, and related instruments in global markets. Caledonia manages Client assets generally within a single long-short global equity strategy in accordance with the terms set forth in the applicable governing documents, which may include, but is not limited to, the offering memorandum, organizational documents, private placement memorandum, prospectus, limited partnership agreement, limited liability company agreement, investment management agreement, and/or subscription agreements (each and collectively, the “Governing Document”). Caledonia does not tailor advisory services to the individual needs of Clients. Please refer

to Item 8 of this Brochure for additional information regarding Caledonia’s methods of analysis and investment strategies, and their associated risks. Prospective investors should refer to the appropriate Governing Document for important additional information and considerations. Clients, in limited circumstances per the Governing Document, may impose restrictions on investing in certain securities. Caledonia US, LP (“Caledonia US”), an affiliate of Caledonia and an SEC-registered investment adviser, serves as the investment manager to some of its Clients. Another affiliate of Caledonia, Caledonia GP, LLC (“Caledonia GP”), serves as the general partner of certain U.S. based Funds. Caledonia Co-Invest GP, LLC (“Caledonia Co-Inv GP”), also an affiliate of Caledonia, serves as the general partner of certain Funds registered in the Cayman Islands. Caledonia US, Caledonia GP and Caledonia Co-Inv GP and their employees and personnel are subject to the Investment Advisers Act of 1940 (the “Advisers Act”) and rules thereunder, and to all of Caledonia’s compliance policies and procedures. Each of the personnel of Caledonia US, Caledonia GP and Caledonia Co-Inv GP are deemed “persons associated with” Caledonia (as that term is defined in section 202(a)(17) of the Advisers Act) and are subject to SEC examination. As of June 30, 2023, Caledonia managed Client regulatory assets under management on a discretionary basis in the amount of U.S. $11.01 billion.