Polar Capital Holdings Plc
Reported US equity positions for Q1 2026 — $22.9B across 239 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| NVDA NVIDIA Corporation | $2.1B | 9.0% | 11,805,589 |
| AVGO Broadcom Inc. | $889.3M | 3.9% | 2,873,262 |
| AMD Advanced Micro Devices, Inc. | $692.8M | 3.0% | 3,405,482 |
| META Meta Platforms, Inc. | $600.2M | 2.6% | 1,049,017 |
| SNDK Sandisk Corp | $557.2M | 2.4% | 877,032 |
| LITE Lumentum Holdings Inc. | $505.6M | 2.2% | 719,486 |
| COHR Coherent Corp. | $471.2M | 2.1% | 1,978,182 |
| GLW Corning Incorporated | $453.3M | 2.0% | 3,333,777 |
| GOOGL Alphabet Inc. | $412.0M | 1.8% | 1,432,690 |
| LRCX Lam Research Corporation | $408.8M | 1.8% | 1,913,491 |
| KLAC KLA Corporation | $399.5M | 1.7% | 271,319 |
| VRT Vertiv Holdings, LLC Class A | $386.1M | 1.7% | 1,540,959 |
| G7997R103 Seagate Technology Hldngs Pl | $365.8M | 1.6% | 933,859 |
| GOOG Alphabet Inc. - Class C Capital Stock | $365.1M | 1.6% | 1,272,896 |
| INTC Intel Corporation | $356.8M | 1.6% | 8,086,018 |
| MU Micron Technology, Inc. | $346.7M | 1.5% | 1,026,335 |
| AMZN Amazon.com, Inc. | $338.1M | 1.5% | 1,623,548 |
| G7496G103 Renaissancere Hldgs LTD | $332.9M | 1.5% | 1,119,889 |
| AAPL Apple Inc. | $328.9M | 1.4% | 1,295,827 |
| G0450A105 Arch Cap Group LTD | $316.8M | 1.4% | 3,300,000 |
| CIEN Ciena Corporation | $310.0M | 1.4% | 798,395 |
| CLS Celestica, Inc. | $300.0M | 1.3% | 1,065,005 |
| TTMI TTM Technologies, Inc. | $284.9M | 1.2% | 2,924,285 |
| ANET Arista Networks, Inc. | $273.9M | 1.2% | 2,230,969 |
| WDC Western Digital Corporation | $263.0M | 1.1% | 972,432 |
| LLY Eli Lilly and Company | $258.5M | 1.1% | 281,102 |
| XENE Xenon Pharmaceuticals Inc. | $256.2M | 1.1% | 4,405,312 |
| GEV GE Vernova Inc. | $251.4M | 1.1% | 287,990 |
| MSFT Microsoft Corporation | $244.0M | 1.1% | 659,162 |
| H1467J104 Chubb LTD Switz | $242.4M | 1.1% | 743,748 |
| NET Cloudflare, Inc. Class A | $240.2M | 1.0% | 1,164,084 |
| Y2573F102 Flextronics Intl LTD | $236.3M | 1.0% | 3,610,561 |
| FMF First Trust Managed Futures Strategy Fund | $222.3M | 1.0% | 2,292,313 |
| MRSH Marsh | $211.6M | 0.9% | 1,220,000 |
| MTSI MACOM Technology Solutions Holdings, Inc. | $206.7M | 0.9% | 930,778 |
| ELVN Enliven Therapeutics, Inc. | $198.6M | 0.9% | 5,065,933 |
| G3323L100 Fabrinet | $190.8M | 0.8% | 365,902 |
| 670703107 Nuvalent INC | $187.6M | 0.8% | 1,831,253 |
| BBIO BridgeBio Pharma, Inc. | $187.1M | 0.8% | 2,519,306 |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $171.0M | 0.7% | 1,441,167 |
| TEVA Teva Pharmaceutical Industries Limited American Preferred | $155.9M | 0.7% | 5,175,058 |
| MKL Markel Group Inc. | $153.1M | 0.7% | 80,000 |
| MDGL Madrigal Pharmaceuticals, Inc. | $151.4M | 0.7% | 289,310 |
| WRB W.R. Berkley Corporation | $150.8M | 0.7% | 2,275,000 |
| 04351P101 Ascendis Pharma A/S | $149.1M | 0.7% | 651,712 |
| G3198U102 Essent Group LTD | $149.0M | 0.7% | 2,550,000 |
| AKAM Akamai Technologies, Inc. | $148.9M | 0.7% | 1,296,665 |
| REGN Regeneron Pharmaceuticals, Inc. | $148.8M | 0.6% | 192,546 |
| RYTM Rhythm Pharmaceuticals, Inc. | $140.5M | 0.6% | 1,615,586 |
| TRV The Travelers Companies, Inc. | $139.3M | 0.6% | 477,500 |
| ARQT Arcutis Biotherapeutics, Inc. | $133.5M | 0.6% | 5,666,940 |
| G3223R108 Everest Group LTD | $131.9M | 0.6% | 403,500 |
| PLTR Palantir Technologies Inc. | $126.9M | 0.6% | 867,215 |
| L8681T102 Spotify Technology S A | $119.0M | 0.5% | 245,436 |
| G6683N103 Nu Hldgs LTD | $118.8M | 0.5% | 8,266,177 |
| RGA Reinsurance Group of America, Incorporated | $111.6M | 0.5% | 546,829 |
| RVMD Revolution Medicines, Inc. | $110.3M | 0.5% | 1,133,930 |
| CYTK Cytokinetics, Incorporated | $109.5M | 0.5% | 1,661,248 |
| BE Bloom Energy Corporation Class A | $103.6M | 0.5% | 764,863 |
| CAT Caterpillar, Inc. | $103.0M | 0.4% | 145,356 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| NVDA NVIDIA Corporation | Add | $2.1B | $1.8B | +22% |
| AVGO Broadcom Inc. | Add | $889.3M | $940.3M | +6% |
| AMD Advanced Micro Devices, Inc. | Add | $692.8M | $590.9M | +23% |
| META Meta Platforms, Inc. | Add | $600.2M | $578.9M | +20% |
| SNDK Sandisk Corp | Trim | $557.2M | $301.1M | -31% |
| LITE Lumentum Holdings Inc. | Trim | $505.6M | $379.4M | -30% |
| COHR Coherent Corp. | Add | $471.2M | $314.9M | +16% |
| GLW Corning Incorporated | Add | $453.3M | $200.2M | +46% |
| GOOGL Alphabet Inc. | Trim | $412.0M | $487.9M | -8% |
| LRCX Lam Research Corporation | Trim | $408.8M | $492.0M | -33% |
| KLAC KLA Corporation | Trim | $399.5M | $415.8M | -21% |
| VRT Vertiv Holdings, LLC Class A | Add | $386.1M | $134.1M | +86% |
| G7997R103 Seagate Technology Hldngs Pl | Trim | $365.8M | $338.6M | -24% |
| GOOG Alphabet Inc. - Class C Capital Stock | Trim | $365.1M | $473.8M | -16% |
| INTC Intel Corporation | Add | $356.8M | $101.2M | +195% |
| MU Micron Technology, Inc. | Trim | $346.7M | $313.4M | -7% |
| AMZN Amazon.com, Inc. | Add | $338.1M | $315.9M | +19% |
| G7496G103 Renaissancere Hldgs LTD | Trim | $332.9M | $359.9M | -13% |
| AAPL Apple Inc. | Trim | $328.9M | $400.4M | -12% |
| CIEN Ciena Corporation | Trim | $310.0M | $301.6M | -38% |
| CLS Celestica, Inc. | Add | $300.0M | $298.9M | +5% |
| TTMI TTM Technologies, Inc. | Add | $284.9M | $179.2M | +13% |
| ANET Arista Networks, Inc. | Add | $273.9M | $163.1M | +79% |
| WDC Western Digital Corporation | Add | $263.0M | $157.3M | +6% |
| LLY Eli Lilly and Company | Add | $258.5M | $287.7M | +5% |
| XENE Xenon Pharmaceuticals Inc. | Add | $256.2M | $110.5M | +79% |
| GEV GE Vernova Inc. | Add | $251.4M | $162.1M | +16% |
| MSFT Microsoft Corporation | Trim | $244.0M | $515.0M | -38% |
| H1467J104 Chubb LTD Switz | Add | $242.4M | $223.2M | +4% |
| NET Cloudflare, Inc. Class A | Add | $240.2M | $183.4M | +25% |
| Y2573F102 Flextronics Intl LTD | Trim | $236.3M | $223.1M | -2% |
| MRSH Marsh | Add | $211.6M | $179.0M | +26% |
| ELVN Enliven Therapeutics, Inc. | Add | $198.6M | $54.1M | +44% |
| G3323L100 Fabrinet | Trim | $190.8M | $251.3M | -34% |
| 670703107 Nuvalent INC | Add | $187.6M | $154.6M | +19% |
| BBIO BridgeBio Pharma, Inc. | Add | $187.1M | $99.4M | +94% |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | Trim | $171.0M | $270.2M | -14% |
| TEVA Teva Pharmaceutical Industries Limited American Preferred | Add | $155.9M | $155.7M | +4% |
| MKL Markel Group Inc. | Add | $153.1M | $165.5M | +4% |
| MDGL Madrigal Pharmaceuticals, Inc. | Add | $151.4M | $157.3M | +7% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.