Polar Capital Holdings Plc

Name: Polar Capital Holdings Plc 13F holdings, Q4 2024
Creator: Polar Capital Holdings Plc
Published: 2025-02-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Polar Capital Holdings Plc reported 271 stock positions worth $17.7 billion. Its top holding was Nvidia (NVDA) at 7.1% of the portfolio, followed by Meta Platforms Class A (META, 5.0%) and Broadcom (AVGO, 4.0%). Compared with Q3 2024, it opened 42 new positions, sold out of 34, added to 81 and reduced 110. The biggest buy was Broadcom (AVGO, shares +2%) and the biggest sale Smurfit Westrock (SW, shares −85%).

Most Recent 13F: Q2 2026
Location: London, X0
CIK: 0001837309
Portfolio Value: $17.7B (Q4 2024)
SEC Filing: 0001172661-25-000891 ↗ filed Feb 14, 2025

Holdings Value

Holdings 271 stocks · $17.7B


NVDA Nvidia Corp.	7.11%	9,398,436	$1.3B	Reduce -12.6%
META Meta Platforms Inc. Class A	4.96%	1,503,673	$880.4M	Add +4.1%
AVGO Broadcom Inc.	3.99%	3,055,571	$708.4M	Add +2.0%
MSFT Microsoft Corp.	3.62%	1,525,430	$643.0M	Reduce -5.0%
AAPL Apple Inc.	2.13%	1,507,656	$377.5M	Add +15.4%
AMZN Amazon.com Inc.	2.08%	1,684,619	$369.6M	Add +35.5%
GOOGL Alphabet Inc. Class A	1.99%	1,865,626	$353.2M	Add +22.8%
GOOG Alphabet Inc. Class C	1.94%	1,803,247	$343.4M	Add +17.9%
RNR Renaissancere Holdings Ltd.	1.82%	1,298,190	$323.0M	Add +5.7%
NET Cloudflare Inc. Class A	1.78%	2,932,791	$315.8M	Reduce -18.4%
ACGL Arch Capital Group Ltd.	1.68%	3,237,398	$299.0M	Add +8.7%
SHOP Shopify Inc. Class A	1.51%	2,512,288	$267.1M	Add +34.2%
ANET Arista Networks Inc.	1.43%	2,294,732	$253.6M	Reduce -33.0%
APH Amphenol Corp. Class A	1.17%	2,991,081	$207.7M	Add +23.4%
CB Chubb Ltd.	1.14%	735,000	$203.1M	Reduce -10.9%
CYBR Cyberark Software Ltd./Israel	1.13%	602,232	$200.6M	Reduce -30.6%
NOW ServiceNow Inc.	1.10%	183,948	$195.0M	Reduce -9.9%
MRVL Marvell Technology Inc.	1.06%	1,700,816	$187.9M	Add +577.6%
GEV GE Vernova Inc.	1.06%	569,730	$187.4M	Add +1138.5%
MRSH Marsh & McLennan Cos	1.05%	874,000	$185.6M	Reduce -12.3%
CIEN Ciena Corp.	1.04%	2,169,406	$184.0M	Add +113.7%
SPOT Spotify Technology SA	1.02%	403,758	$180.6M	Reduce -33.3%
TSLA Tesla Inc.	1.01%	445,998	$180.1M	Reduce -8.2%
NFLX Netflix Inc.	0.99%	196,703	$175.3M	Add +1.2%
WRB WR Berkley Corp. filed as BERKLEY W R CORP	0.96%	2,925,000	$171.2M	No change
KLAC KLA Corp.	0.95%	268,587	$169.2M	Reduce -20.9%
COHR Coherent Corp.	0.87%	1,633,082	$154.7M	Add +125.8%
CLS Celestica Inc.	0.84%	1,607,969	$148.4M	Add +822.6%
PGR Progressive Corp.	0.83%	613,535	$147.0M	Reduce -2.0%
ESNT Essent Group Ltd.	0.83%	2,700,000	$147.0M	Add +14.9%
DDOG Datadog Inc. Class A	0.81%	1,008,005	$144.0M	Add +387.3%
MTSI Macom Technology Solutions H	0.78%	1,071,071	$139.1M	Reduce -2.4%
EG Everest Group Ltd.	0.75%	368,750	$133.7M	Add +2.4%
MKL Markel Group Inc.	0.75%	77,350	$133.5M	Reduce -6.8%
P Everpure Inc. Class A filed as PURE STORAGE INC	0.73%	2,104,849	$129.3M	Reduce -10.3%
MELI MercadoLibre Inc.	0.73%	75,852	$129.0M	Reduce -31.8%
ISRG Intuitive Surgical Inc.	0.72%	246,379	$128.6M	Reduce -14.0%
ALAB Astera Labs Inc.	0.71%	957,431	$126.8M	New
ORCL Oracle Corp.	0.71%	759,307	$126.5M	Add +57.1%
HOOD Robinhood Markets Inc. Class A	0.71%	3,361,555	$125.3M	New
GLW Corning Inc.	0.70%	2,614,751	$124.3M	New
RDDT Reddit Inc. Class A	0.69%	753,273	$123.1M	New
TRV The Travelers Cos Inc.	0.69%	510,000	$122.9M	Reduce -1.9%
SRRK Scholar Rock Holding Corp.	0.66%	2,708,371	$117.1M	Reduce -7.9%
MU Micron Technology Inc.	0.63%	1,337,597	$112.6M	Reduce -30.6%
DASH DoorDash Inc. Class A	0.63%	665,776	$111.7M	Add +10.0%
XENE Xenon Pharmaceuticals Inc.	0.60%	2,697,657	$105.7M	Add +10.3%
AXON Axon Enterprise Inc.	0.59%	176,520	$104.9M	Reduce -50.0%
CYTK Cytokinetics Inc.	0.58%	2,196,721	$103.3M	Reduce -6.0%
ARQT Arcutis Biotherapeutics Inc.	0.58%	7,377,381	$102.8M	Add +7.2%
MMYT Makemytrip Ltd.	0.58%	910,314	$102.2M	Reduce -7.9%
HUBS HubSpot Inc.	0.57%	146,155	$101.8M	Add +34.9%
RGA Reinsurance Group of America	0.57%	471,000	$100.6M	No change
CRDO Credo Technology Group Holdi	0.55%	1,451,084	$97.5M	Add +382.1%
RYAN Ryan Specialty Holdings Inc.	0.55%	1,515,000	$97.2M	No change
ARM Arm Holdings PLC-ADR	0.53%	763,939	$94.2M	Add +11.3%
APP AppLovin Corp. Class A	0.52%	287,039	$93.0M	Reduce -32.4%
PANW Palo Alto Networks Inc.	0.51%	497,776	$90.6M	Reduce -17.1%
RYTM Rhythm Pharmaceuticals Inc.	0.47%	1,500,000	$84.0M	No change
PCVX Vaxcyte Inc.	0.45%	973,645	$79.7M	Reduce -2.2%
NUVL Nuvalent Inc. Class A	0.42%	946,723	$74.1M	Add +161.2%
LLY Eli Lilly & Co.	0.41%	94,843	$73.2M	Reduce -3.2%
ALNY Alnylam Pharmaceuticals Inc.	0.41%	310,000	$72.9M	No change
AMGN Amgen Inc.	0.41%	279,826	$72.9M	Reduce -26.7%
SNOW Snowflake Inc.	0.41%	465,973	$72.0M	New
MRUS Merus NV	0.40%	1,706,238	$71.7M	Add +34.7%
GLOB Globant SA	0.40%	330,897	$71.0M	Add +4.7%
V Visa Inc. Class A	0.40%	223,439	$70.6M	Add +6.2%
VRTX Vertex Pharmaceuticals Inc.	0.40%	175,000	$70.5M	No change
NVMI Nova Ltd.	0.39%	354,302	$69.8M	Add +504.5%
TCOM Trip.com Group Ltd.-ADR	0.39%	1,012,840	$69.5M	Add +37.4%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC	0.38%	580,050	$68.2M	Reduce -46.8%
GMED Globus Medical Inc. Class A	0.36%	770,913	$63.8M	New
AMD Advanced Micro Devices	0.35%	520,863	$62.9M	Reduce -80.3%
SUPN Supernus Pharmaceuticals Inc.	0.34%	1,687,930	$61.0M	Reduce -12.9%
TWLO Twilio Inc. Class A	0.34%	563,929	$60.9M	New
TRUP Trupanion Inc.	0.34%	1,250,000	$60.3M	Reduce -3.9%
MLTX Moonlake Immunotherapeutics	0.34%	1,100,000	$59.6M	Add +120.0%
ESTC Elastic NV	0.32%	567,120	$56.2M	Reduce -18.1%
UNH Unitedhealth Group Inc.	0.31%	110,116	$55.7M	Reduce -9.7%
JPM JPMorgan Chase & Co.	0.31%	232,362	$55.7M	Reduce -7.0%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD	0.31%	5,370,410	$55.6M	Add +40.8%
PDD PDD Holdings Inc.	0.31%	569,612	$55.2M	Add +7.5%
BRK.B Berkshire Hathaway Inc. Class B	0.31%	121,056	$54.9M	Add +10.3%
CVLT Commvault Systems Inc.	0.31%	362,958	$54.8M	Add +182.5%
BPMC Blueprint Medicines Corp.	0.31%	626,379	$54.6M	Reduce -28.6%
SWTX Springworks Therapeutics Inc.	0.31%	1,500,000	$54.2M	No change
ELVN Enliven Therapeutics Inc.	0.30%	2,389,668	$53.8M	Add +267.6%
SE Sea Ltd.-ADR	0.30%	499,353	$53.0M	Reduce -19.6%
INSM Insmed Inc.	0.28%	730,000	$50.4M	Add +7.3%
APLS Apellis Pharmaceuticals Inc.	0.28%	1,577,175	$50.3M	Add +45.8%
MA Mastercard Inc. Class A	0.28%	93,308	$49.1M	Add +5.3%
EA Electronic Arts Inc.	0.28%	333,602	$48.8M	New
HGTY Hagerty Inc. Class A	0.27%	5,000,000	$48.3M	No change
AFL Aflac Inc.	0.27%	460,000	$47.6M	No change
AVDL Avadel Pharmaceuticals Ltd.	0.26%	4,414,200	$46.4M	Reduce -8.7%
FN Fabrinet	0.26%	209,294	$46.0M	Reduce -40.0%
MNDY Monday.com Ltd.	0.26%	194,010	$45.7M	Reduce -19.2%
NAMS Newamsterdam Pharma Co. NV	0.25%	1,750,000	$45.0M	Add +16.3%
VRNS Varonis Systems Inc.	0.25%	1,003,524	$44.6M	Reduce -25.6%
FSLR First Solar Inc.	0.25%	247,749	$43.7M	Reduce -63.2%
RLI Rli Corp.	0.24%	260,000	$42.9M	No change
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC	0.24%	2,313,217	$42.6M	Add +32.5%
NTNX Nutanix Inc. Class A	0.24%	695,665	$42.6M	Reduce -19.6%
MDGL Madrigal Pharmaceuticals Inc.	0.24%	137,720	$42.5M	Add +37.1%
BSX Boston Scientific Corp.	0.24%	474,680	$42.4M	Reduce -13.1%
FAF First American Financial	0.24%	675,000	$42.1M	No change
BRO Brown & Brown Inc.	0.24%	412,500	$42.1M	No change
ROIV Roivant Sciences Ltd.	0.23%	3,500,000	$41.4M	No change
ASND Ascendis Pharma A/S	0.23%	300,000	$41.3M	Add +33.3%
REGN Regeneron Pharmaceuticals	0.23%	56,249	$40.1M	Reduce -21.6%
CLDX Celldex Therapeutics Inc.	0.22%	1,565,831	$39.6M	Reduce -42.5%
IBKR Interactive Brokers Gro Class A	0.22%	223,408	$39.5M	Reduce -4.0%
ABBV Abbvie Inc.	0.22%	219,516	$39.0M	Reduce -5.2%
IOT Samsara Inc. Class A	0.22%	889,429	$38.9M	Reduce -3.4%
MMSI Merit Medical Systems Inc.	0.21%	382,697	$37.0M	Reduce -7.3%
RNAM Avidity Biosciences Inc.	0.21%	1,271,891	$37.0M	Reduce -17.5%
ITGR Integer Holdings Corp.	0.20%	272,436	$36.1M	Reduce -20.3%
ICE Intercontinental Exchange Inc.	0.20%	241,540	$36.0M	Reduce -13.3%
ETN Eaton Corp. PLC	0.20%	107,171	$35.6M	Reduce -25.4%
FIS Fidelity National Info Serv	0.20%	438,960	$35.5M	Reduce -3.5%
Z Zillow Group Inc. Class C	0.19%	452,450	$33.5M	New
MCK McKesson Corp.	0.19%	58,285	$33.2M	Add +11.5%
RVMD Revolution Medicines Inc.	0.18%	750,665	$32.8M	New
TOST Toast Inc. Class A	0.18%	854,726	$31.2M	New
VTEX Vtex Class A	0.17%	5,229,168	$30.8M	Add +21.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.17%	696,463	$30.6M	New
WMT Walmart Inc.	0.17%	338,186	$30.6M	Add +2.3%
TBBB BBB Foods Inc. Class A	0.17%	1,036,375	$29.3M	Reduce -25.6%
CRH CRH PLC	0.16%	313,968	$29.0M	Reduce -3.2%
MIRM Mirum Pharmaceuticals Inc.	0.16%	675,000	$27.9M	No change
CGON CG Oncology Inc.	0.16%	967,055	$27.7M	No change
USFD US Foods Holding Corp.	0.16%	408,937	$27.6M	No change
AXP American Express Co.	0.15%	92,177	$27.4M	Add +198.9%
PLRX Pliant Therapeutics Inc.	0.15%	2,015,000	$26.5M	No change
BKNG Booking Holdings Inc.	0.14%	5,178	$25.7M	Add +15.9%
ESTA Establishment Labs Holdings	0.14%	546,519	$25.2M	No change
DXCM Dexcom Inc.	0.13%	302,456	$23.5M	Add +80.6%
GDDY GoDaddy Inc. Class A	0.13%	112,847	$22.3M	New
ADI Analog Devices Inc.	0.12%	103,517	$22.0M	Add +16.1%
AGIO Agios Pharmaceuticals Inc.	0.12%	627,036	$20.6M	Reduce -37.4%
DOCS Doximity Inc. Class A	0.12%	382,695	$20.4M	Add +218.9%
GS Goldman Sachs Group Inc.	0.11%	35,549	$20.4M	Add +68.8%
H Hyatt Hotels Corp. Class A	0.11%	128,305	$20.1M	Add +16.9%
CVE Cenovus Energy Inc.	0.11%	1,017,617	$19.8M	No change
QCOM Qualcomm Inc.	0.11%	128,516	$19.7M	Reduce -77.7%
BOW Bowhead Specialty Holdings I	0.11%	550,000	$19.5M	Add +160.3%
STVN Stevanato Group SPA	0.11%	874,813	$19.1M	Add +33.1%
PODD Insulet Corp.	0.11%	72,871	$19.0M	Reduce -42.7%
DOX Amdocs Ltd.	0.11%	222,900	$19.0M	No change
PLTR Palantir Technologies Inc. Class A	0.10%	238,262	$18.0M	Reduce -33.1%
C Citigroup Inc.	0.10%	255,085	$18.0M	Add +89.8%
BRKR Bruker Corp.	0.10%	305,190	$17.9M	Reduce -3.9%
SYRE Spyre Therapeutics Inc.	0.10%	750,000	$17.5M	Add +50.0%
NDAQ Nasdaq Inc.	0.10%	218,601	$16.9M	Add +8.5%
FWONK Liberty Media Corp. Class C	0.09%	180,495	$16.7M	No change
GL Globe Life Inc.	0.09%	148,677	$16.6M	Add +30.9%
MKSI MKS Inc. filed as MKS INSTRS INC	0.09%	156,477	$16.3M	No change
LIN Linde PLC	0.09%	38,865	$16.3M	Reduce -23.9%
ELV Elevance Health Inc.	0.09%	44,012	$16.2M	No change
ALC Alcon Inc. filed as ALCON AG	0.09%	198,355	$16.0M	Reduce -8.0%
FFIV F5 Inc.	0.09%	62,787	$15.8M	New
BLK BlackRock Inc.	0.09%	14,932	$15.3M	New
ATR Aptargroup Inc.	0.09%	96,930	$15.2M	Reduce -29.4%
PEN Penumbra Inc.	0.08%	63,453	$15.1M	Reduce -30.1%
TSEM Tower Semiconductor Ltd.	0.08%	287,818	$14.8M	New
AXS Axis Capital Holdings Ltd.	0.08%	165,614	$14.7M	Reduce -9.5%
LOW Lowe's Cos Inc.	0.08%	58,845	$14.5M	No change
YMAB Y-Mabs Therapeutics Inc.	0.08%	1,831,000	$14.3M	No change
UBER Uber Technologies Inc.	0.08%	236,376	$14.3M	Add +33.3%
XMTR Xometry Inc. Class A	0.08%	329,811	$14.1M	New
ALL Allstate Corp.	0.08%	72,498	$14.0M	Add +13.2%
ARES Ares Management Corp. Class A	0.08%	78,927	$14.0M	Reduce -0.1%
ACHC Acadia Healthcare Co. Inc.	0.08%	349,761	$13.9M	Reduce -9.1%
EXAS Exact Sciences Corp.	0.08%	245,402	$13.8M	New
PTGX Protagonist Therapeutics Inc.	0.08%	350,000	$13.5M	No change
UNP Union Pacific Corp.	0.07%	57,057	$13.0M	Reduce -21.3%
BWXT BWX Technologies Inc.	0.07%	114,878	$12.8M	New
LEGN Legend Biotech Corp.-ADR	0.07%	381,873	$12.4M	Reduce -23.1%
WVE Wave Life Sciences Ltd.	0.07%	1,000,000	$12.4M	New
USB US Bancorp	0.07%	256,960	$12.3M	New
SSNC Ss&c Technologies Holdings	0.07%	159,185	$12.1M	Reduce -35.9%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO	0.07%	41,881	$11.9M	New
FISV Fiserv Inc.	0.07%	57,151	$11.7M	Reduce -52.2%
CNM Core & Main Inc. Class A	0.07%	228,178	$11.6M	Add +23.9%
ECL Ecolab Inc.	0.07%	49,409	$11.6M	Add +2.3%
CAT Caterpillar Inc.	0.06%	31,325	$11.4M	New
FERG Ferguson Enterprises Inc.	0.06%	65,392	$11.4M	Reduce -14.8%
XYZ Block Inc.	0.06%	130,931	$11.1M	Reduce -15.5%
CNC Centene Corp.	0.06%	182,178	$11.0M	Reduce -30.3%
SN Sharkninja Inc.	0.06%	112,667	$11.0M	Add +160.5%
CSCO Cisco Systems Inc.	0.06%	180,671	$10.7M	New
OTEX Open Text Corp.	0.06%	377,405	$10.7M	No change
ORKA Oruka Therapeutics Inc.	0.06%	550,000	$10.7M	New
CRTO Criteo SA-Spon	0.06%	268,000	$10.6M	Reduce -48.1%
AMG Affiliated Managers Group	0.06%	56,532	$10.5M	Reduce -36.1%
CNQ Canadian Natural Resources	0.06%	261,513	$10.4M	Reduce -27.4%
RBLX Roblox Corp. Class A	0.06%	175,433	$10.2M	Reduce -45.7%
CLBT Cellebrite Di Ltd.	0.06%	448,801	$9.9M	Add +61.8%
LFUS Littelfuse Inc.	0.05%	41,271	$9.7M	Reduce -25.7%
BX Blackstone Inc.	0.05%	55,670	$9.6M	Reduce -1.4%
LITE Lumentum Holdings Inc.	0.05%	113,900	$9.6M	Reduce -39.1%
ON On Semiconductor	0.05%	151,600	$9.6M	Add +11.4%
VRT Vertiv Holdings Co. Class A	0.05%	82,800	$9.4M	Reduce -43.2%
ADSK Autodesk Inc.	0.05%	31,750	$9.4M	Add +141.4%
MAR Marriott International Class A	0.05%	33,375	$9.3M	No change
QGEN Qiagen NV	0.05%	170,863	$9.3M	Reduce -28.9%
EQH Equitable Holdings Inc.	0.05%	196,906	$9.3M	New
DE Deere & Co.	0.05%	21,763	$9.2M	Add +41.7%
URI United Rentals Inc.	0.05%	12,818	$9.0M	Reduce -16.3%
LII Lennox International Inc.	0.05%	14,600	$8.9M	Add +20.2%
NXPI NXP Semiconductors NV	0.05%	41,300	$8.6M	Add +53.3%
MBC Masterbrand Inc.	0.05%	573,077	$8.4M	New
AFRM Affirm Holdings Inc.	0.05%	136,206	$8.3M	New
DFS Discover Financial Services	0.05%	47,501	$8.2M	New
NVT Nvent Electric PLC	0.04%	115,000	$7.8M	Reduce -63.8%
RXST Rxsight Inc.	0.04%	224,254	$7.7M	Add +21.3%
FHN First Horizon Corp.	0.04%	375,912	$7.6M	New
BLDR Builders Firstsource Inc.	0.04%	52,688	$7.5M	New
MP MP Materials Corp.	0.04%	482,000	$7.5M	Add +45.6%
CARR Carrier Global Corp.	0.04%	109,500	$7.5M	Add +52.5%
RF Regions Financial Corp.	0.04%	307,642	$7.2M	New
CHRW C.H. Robinson Worldwide Inc.	0.04%	68,449	$7.1M	New
SITM Sitime Corp.	0.04%	32,631	$7.0M	Reduce -47.5%
KVYO Klaviyo Inc. Class A	0.04%	168,138	$6.9M	Reduce -46.9%
AGX Argan Inc.	0.04%	50,076	$6.9M	New
DOCU Docusign Inc.	0.04%	75,638	$6.8M	New
FLNC Fluence Energy Inc.	0.04%	420,500	$6.7M	Add +79.3%
EXEL Exelixis Inc.	0.04%	200,000	$6.7M	No change
SNDX Syndax Pharmaceuticals Inc.	0.04%	500,000	$6.6M	No change
XPEV Xpeng Inc. - ADR	0.04%	558,000	$6.6M	New
CNNE Cannae Holdings Inc.	0.04%	316,697	$6.3M	Reduce -27.4%
HTHT H World Group Ltd.-ADR	0.03%	171,026	$5.6M	Reduce -0.8%
TEAM Atlassian Corp. Class A	0.03%	22,865	$5.6M	New
BRZE Braze Inc. Class A	0.03%	129,991	$5.4M	Reduce -24.8%
LIVN Livanova PLC	0.03%	112,094	$5.2M	Reduce -10.9%
TSHA Taysha Gene Therapies Inc.	0.03%	3,000,000	$5.2M	Reduce -0.8%
TNDM Tandem Diabetes Care Inc.	0.03%	142,900	$5.1M	Reduce -7.2%
CHE Chemed Corp.	0.03%	8,658	$4.6M	No change
IRTC Irhythm Holdings Inc.	0.03%	49,773	$4.5M	Reduce -12.9%
ENS Enersys	0.02%	47,000	$4.3M	Add +33.5%
SW Smurfit Westrock PLC	0.02%	78,590	$4.2M	Reduce -85.1%
ADUS Addus Homecare Corp.	0.02%	29,349	$3.7M	Add +0.6%
IMCR Immunocore Holdings PLC-ADR	0.02%	114,023	$3.4M	Reduce -77.3%
APD Air Products & Chemicals Inc.	0.02%	11,200	$3.2M	Add +36.6%
KRRO Korro Bio Inc.	0.02%	75,000	$2.9M	New
NBIX Neurocrine Biosciences Inc.	0.02%	20,000	$2.7M	No change
DAWN Day One Biopharmaceuticals I	0.01%	185,000	$2.3M	No change
LASR Nlight Inc.	0.01%	215,317	$2.3M	New
ENSG The Ensign Group Inc.	0.01%	16,619	$2.2M	New
HCA HCA Healthcare Inc.	0.01%	5,970	$1.8M	Reduce -96.4%
CGNX Cognex Corp.	0.01%	47,700	$1.7M	Reduce -46.1%
IDYA Ideaya Biosciences Inc.	0.01%	65,500	$1.7M	Reduce -90.0%
SYK Stryker Corp.	0.01%	4,128	$1.5M	Reduce -53.4%
HOLX Hologic Inc.	0.01%	18,009	$1.3M	Reduce -30.4%
MASI Masimo Corp.	0.01%	6,023	$996K	New
ALB Albemarle Corp.	0.01%	10,800	$930K	New
THC Tenet Healthcare Corp.	0.01%	7,231	$913K	Reduce -46.5%
QRVO Qorvo Inc.	0.00%	12,100	$846K	Reduce -1.6%
CTNM Contineum Therapeutics Inc. Class A	0.00%	43,604	$639K	Reduce -79.9%
MPWR Monolithic Power Systems Inc.	0.00%	1,000	$592K	Reduce -99.5%
LSCC Lattice Semiconductor Corp.	0.00%	9,900	$561K	Reduce -83.1%
ANSS Ansys Inc.	0.00%	1,320	$445K	Reduce -5.7%
TEL Te Connectivity PLC	0.00%	2,200	$315K	Add +46.7%
NTRA Natera Inc.	0.00%	1,755	$278K	No change
NTES Netease Inc.-ADR	0.00%	2,397	$214K	Add +11.1%
EHC Encompass Health Corp.	0.00%	2,259	$209K	Reduce -37.3%
LFST Lifestance Health Group Inc.	0.00%	11,500	$85K	No change
STXS Stereotaxis Inc.	0.00%	35,800	$82K	No change
GDRX Goodrx Holdings Inc. Class A	0.00%	12,360	$57K	No change
CERS Cerus Corp.	0.00%	13,540	$21K	No change

Options reported separately and not counted above: MSFT puts ($6.7M), AAPL calls ($6.6M), MSFT calls ($2.7M), XLF puts ($725K).

Other holdings (21): bonds, preferreds, convertibles and warrants · $115.7M (not counted above)

Security	Class	Shares / Principal	Value	Change
NUTANIX INC (NTNX 0.25 10/01/27)	NOTE 0.250%10/0 · principal	14,360,000	$17.4M	No change
AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29)	NOTE 3.875% 8/1 · principal	14,240,000	$14.2M	No change
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28)	NOTE 2.250% 4/0 · principal	8,750,000	$9.6M	Reduce -31.4%
BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27)	NOTE 2.500% 3/1 · principal	8,500,000	$8.9M	Reduce -32.0%
ETSY INC (ETSY 0.125 09/01/27)	NOTE 0.125% 9/0 · principal	10,000,000	$8.6M	New
ZSCALER INC. (ZS 0.125 07/01/25)	NOTE 0.125% 7/0 · principal	6,000,000	$7.4M	Add +33.3%
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26)	NOTE 0.500%12/1 · principal	6,500,000	$7.2M	New
IMPINJ INC (PI 1.125 05/15/27)	NOTE 1.125% 5/1 · principal	4,300,000	$6.1M	No change
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28)	NOTE 1.750% 6/1 · principal	4,500,000	$4.5M	New
LI AUTO INC (LI 0.25 05/01/28)	NOTE 0.250% 5/0 · principal	3,500,000	$4.0M	Reduce -41.7%
CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28)	NOTE 2.375%12/1 · principal	3,000,000	$3.9M	No change
INSULET CORPORATION (PODD 0.375 09/01/26)	NOTE 0.375% 9/0 · principal	3,000,000	$3.8M	No change
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27)	NOTE 1.250% 9/1 · principal	3,400,000	$3.7M	Reduce -48.5%
SPOTIFY USA INC (SPOT 0 03/15/26)	NOTE 3/1 · principal	3,000,000	$3.2M	New
BENTLEY SYSTEMS (BSY 0.375 07/01/27)	NOTE 0.375% 7/0 · principal	3,000,000	$2.7M	New
CYTOKINETICS INC (CYTK 3.5 07/01/27)	NOTE 3.500% 7/0 · principal	2,000,000	$2.4M	No change
DROPBOX INC (DBX 0 03/01/28)	NOTE 3/0 · principal	2,000,000	$2.0M	New
SHOPIFY INC (SHOPCN 0.125 11/01/25)	NOTE 0.125%11/0 · principal	2,000,000	$2.0M	New
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	1,200,000	$1.5M	New
WAYFAIR INC (W 3.5 11/15/28)	NOTE 3.500%11/1 · principal	1,000,000	$1.2M	No change
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27)	NOTE 2.250% 8/1 · principal	1,000,000	$1.2M	No change

Total filed on the 13F, all lines: $17.9B.

Portfolio Sells Q3 2024 → Q4 2024


SW Smurfit Westrock PLC	Reduce -85.1%	0.02%	−15.38
FERG Ferguson Enterprises Inc.	Reduce -14.8%	0.06%	−3.43
AMD Advanced Micro Devices	Reduce -80.3%	0.35%	−1.73
MPWR Monolithic Power Systems Inc.	Reduce -99.5%	0.00%	−0.91
TER Teradyne Inc.	Sold out	0.00%	−0.62
FSLR First Solar Inc.	Reduce -63.2%	0.25%	−0.56
MELI MercadoLibre Inc.	Reduce -31.8%	0.73%	−0.37
QCOM Qualcomm Inc.	Reduce -77.7%	0.11%	−0.36
MU Micron Technology Inc.	Reduce -30.6%	0.63%	−0.33
HCA HCA Healthcare Inc.	Reduce -96.4%	0.01%	−0.31
KLAC KLA Corp.	Reduce -20.9%	0.95%	−0.31
PI Impinj Inc.	Sold out	0.00%	−0.30
MDB Mongodb Inc.	Sold out	0.00%	−0.28
CLDX Celldex Therapeutics Inc.	Reduce -42.5%	0.22%	−0.22
TTD Trade Desk Inc./the Class A	Reduce -46.8%	0.38%	−0.19
CDNS Cadence Design SYS Inc.	Sold out	0.00%	−0.18
AMGN Amgen Inc.	Reduce -26.7%	0.41%	−0.18
LBPH Longboard Pharmaceuticals Inc.	Sold out	0.00%	−0.18
ANET Arista Networks Inc.	Reduce -33.0%	1.43%	−0.15
SPGI S&P Global Inc.	Sold out	0.00%	−0.14
REGN Regeneron Pharmaceuticals	Reduce -21.6%	0.23%	−0.14
FN Fabrinet	Reduce -40.0%	0.26%	−0.14
RNAM Avidity Biosciences Inc.	Reduce -17.5%	0.21%	−0.13
ICLR Icon PLC	Sold out	0.00%	−0.12
VRNS Varonis Systems Inc.	Reduce -25.6%	0.25%	−0.12
BCYC Bicycle Therapeutics PLC-ADR	Sold out	0.00%	−0.11
PCVX Vaxcyte Inc.	Reduce -2.2%	0.45%	−0.10
AGIO Agios Pharmaceuticals Inc.	Reduce -37.4%	0.12%	−0.10
IDYA Ideaya Biosciences Inc.	Reduce -90.0%	0.01%	−0.09
CYBR Cyberark Software Ltd./Israel	Reduce -30.6%	1.13%	−0.09
AXON Axon Enterprise Inc.	Reduce -50.0%	0.59%	−0.09
SLN Silence Therapeutics PLC-ADR	Sold out	0.00%	−0.09
AVTR Avantor Inc.	Sold out	0.00%	−0.08
BPMC Blueprint Medicines Corp.	Reduce -28.6%	0.31%	−0.08
TMUS T-Mobile US Inc.	Sold out	0.00%	−0.08
MNDY Monday.com Ltd.	Reduce -19.2%	0.26%	−0.06
NVT Nvent Electric PLC	Reduce -63.8%	0.04%	−0.06
BIOX Bioceres Crop Solutions Corp.	Sold out	0.00%	−0.06
WFC Wells Fargo & Co.	Sold out	0.00%	−0.06
SPOT Spotify Technology SA	Reduce -33.3%	1.02%	−0.06
IMCR Immunocore Holdings PLC-ADR	Reduce -77.3%	0.02%	−0.06
JSPR Jasper Therapeutics Inc.	Sold out	0.00%	−0.05
DD Dupont DE Nemours Inc.	Sold out	0.00%	−0.05
GEHC GE Healthcare Technology	Sold out	0.00%	−0.05
KKR KKR & Co. Inc.	Sold out	0.00%	−0.05
CNTA Centessa Pharmaceuticals Ltd.	Sold out	0.00%	−0.05
TECK Teck Resources Ltd.-CLS B	Sold out	0.00%	−0.05
LEGN Legend Biotech Corp.-ADR	Reduce -23.1%	0.07%	−0.05
AVDL Avadel Pharmaceuticals Ltd.	Reduce -8.7%	0.26%	−0.04
FDMT 4D Molecular Therapeutics Inc.	Sold out	0.00%	−0.04

Portfolio Buys Q3 2024 → Q4 2024


AVGO Broadcom Inc.	Add +2.0%	3.99%	+1.51
GEV GE Vernova Inc.	Add +1138.5%	1.06%	+1.00
META Meta Platforms Inc. Class A	Add +4.1%	4.96%	+0.98
MRVL Marvell Technology Inc.	Add +577.6%	1.06%	+0.97
AMZN Amazon.com Inc.	Add +35.5%	2.08%	+0.97
CLS Celestica Inc.	Add +822.6%	0.84%	+0.79
SHOP Shopify Inc. Class A	Add +34.2%	1.51%	+0.78
GOOGL Alphabet Inc. Class A	Add +22.8%	1.99%	+0.78
CIEN Ciena Corp.	Add +113.7%	1.04%	+0.74
ALAB Astera Labs Inc.	New	0.71%	+0.71
HOOD Robinhood Markets Inc. Class A	New	0.71%	+0.71
GOOG Alphabet Inc. Class C	Add +17.9%	1.94%	+0.70
GLW Corning Inc.	New	0.70%	+0.70
DDOG Datadog Inc. Class A	Add +387.3%	0.81%	+0.70
RDDT Reddit Inc. Class A	New	0.69%	+0.69
AAPL Apple Inc.	Add +15.4%	2.13%	+0.66
COHR Coherent Corp.	Add +125.8%	0.87%	+0.56
CRDO Credo Technology Group Holdi	Add +382.1%	0.55%	+0.50
APH Amphenol Corp. Class A	Add +23.4%	1.17%	+0.41
SNOW Snowflake Inc.	New	0.41%	+0.41
GMED Globus Medical Inc. Class A	New	0.36%	+0.36
TWLO Twilio Inc. Class A	New	0.34%	+0.34
NVMI Nova Ltd.	Add +504.5%	0.39%	+0.33
NFLX Netflix Inc.	Add +1.2%	0.99%	+0.32
ORCL Oracle Corp.	Add +57.1%	0.71%	+0.32
HUBS HubSpot Inc.	Add +34.9%	0.57%	+0.30
EA Electronic Arts Inc.	New	0.28%	+0.28
ARQT Arcutis Biotherapeutics Inc.	Add +7.2%	0.58%	+0.27
NUVL Nuvalent Inc. Class A	Add +161.2%	0.42%	+0.24
ELVN Enliven Therapeutics Inc.	Add +267.6%	0.30%	+0.22
MLTX Moonlake Immunotherapeutics	Add +120.0%	0.34%	+0.21
CVLT Commvault Systems Inc.	Add +182.5%	0.31%	+0.21
DASH DoorDash Inc. Class A	Add +10.0%	0.63%	+0.21
RNR Renaissancere Holdings Ltd.	Add +5.7%	1.82%	+0.21
Z Zillow Group Inc. Class C	New	0.19%	+0.19
RVMD Revolution Medicines Inc.	New	0.18%	+0.18
TCOM Trip.com Group Ltd.-ADR	Add +37.4%	0.39%	+0.18
TOST Toast Inc. Class A	New	0.18%	+0.18
BAC Bank of America Corp.	New	0.17%	+0.17
MDGL Madrigal Pharmaceuticals Inc.	Add +37.1%	0.24%	+0.14
APLS Apellis Pharmaceuticals Inc.	Add +45.8%	0.28%	+0.13
NAMS Newamsterdam Pharma Co. NV	Add +16.3%	0.25%	+0.13
XENE Xenon Pharmaceuticals Inc.	Add +10.3%	0.60%	+0.13
GDDY GoDaddy Inc. Class A	New	0.13%	+0.13
V Visa Inc. Class A	Add +6.2%	0.40%	+0.12
AXP American Express Co.	Add +198.9%	0.15%	+0.11
ESNT Essent Group Ltd.	Add +14.9%	0.83%	+0.10
MRUS Merus NV	Add +34.7%	0.40%	+0.10
GLOB Globant SA	Add +4.7%	0.40%	+0.10
DOCS Doximity Inc. Class A	Add +218.9%	0.12%	+0.09

Options Activity Q3 2024 → Q4 2024


MSFT Microsoft Corp.	put	New	16,000	$6.7M
AAPL Apple Inc.	call	Reduce -44.0%	26,350	$6.6M
MSFT Microsoft Corp.	call	Reduce -67.0%	6,500	$2.7M
XLF SS Financial Select Sector	put	Add +130.8%	15,000	$725K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q3 2024 → Q4 2024


UBER TECHNOLOGIES INC (UBER 0 12/15/25)	NOTE 12/1 · principal	Sold out	20,000,000	$22.2Mbefore exit
LIVE NATION ENTERTAINMEN (LYV 2 02/15/25)	NOTE 2.000% 2/1 · principal	Sold out	9,500,000	$10.3Mbefore exit
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28)	NOTE 2.250% 4/0 · principal	Reduce -31.4%	8,750,000	$9.6M
BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27)	NOTE 2.500% 3/1 · principal	Reduce -32.0%	8,500,000	$8.9M
BLOOM ENERGY CORP (BE 3 06/01/28)	NOTE 3.000% 6/0 · principal	Sold out	9,500,000	$8.7Mbefore exit
ETSY INC (ETSY 0.125 09/01/27)	NOTE 0.125% 9/0 · principal	New	10,000,000	$8.6M
AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25)	NOTE 0.125% 5/0 · principal	Sold out	7,500,000	$8.4Mbefore exit
ZSCALER INC. (ZS 0.125 07/01/25)	NOTE 0.125% 7/0 · principal	Add +33.3%	6,000,000	$7.4M
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26)	NOTE 0.500%12/1 · principal	New	6,500,000	$7.2M
WINNEBAGO INDUSTRIES (WGO 1.5 04/01/25)	NOTE 1.500% 4/0 · principal	Sold out	4,500,000	$4.7Mbefore exit
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28)	NOTE 1.750% 6/1 · principal	New	4,500,000	$4.5M
LI AUTO INC (LI 0.25 05/01/28)	NOTE 0.250% 5/0 · principal	Reduce -41.7%	3,500,000	$4.0M
WORLD KINECT GROUP (WKC 3.25 07/01/28)	NOTE 3.250% 7/0 · principal	Sold out	3,100,000	$3.8Mbefore exit
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27)	NOTE 1.250% 9/1 · principal	Reduce -48.5%	3,400,000	$3.7M
TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28)	NOTE 1.500% 6/0 · principal	Sold out	2,000,000	$3.7Mbefore exit
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29)	NOTE 0.500% 3/0 · principal	Sold out	3,500,000	$3.5Mbefore exit
SPOTIFY USA INC (SPOT 0 03/15/26)	NOTE 3/1 · principal	New	3,000,000	$3.2M
SEAGATE HDD CAYMAN (STX 3.5 06/01/28)	NOTE 3.500% 6/0 · principal	Sold out	2,000,000	$2.8Mbefore exit
BENTLEY SYSTEMS (BSY 0.375 07/01/27)	NOTE 0.375% 7/0 · principal	New	3,000,000	$2.7M
DROPBOX INC (DBX 0 03/01/28)	NOTE 3/0 · principal	New	2,000,000	$2.0M
SHOPIFY INC (SHOPCN 0.125 11/01/25)	NOTE 0.125%11/0 · principal	New	2,000,000	$2.0M
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	New	1,200,000	$1.5M
FLUOR CORP (FLR 1.125 08/15/29)	NOTE 1.125% 8/1 · principal	Sold out	1,000,000	$1.2Mbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	224	$35.2B	NVDA, AMD, MU, SNDK, LRCX
Q1 2026	239	$22.9B	NVDA, AVGO, AMD, META, SNDK
Q4 2025	259	$21.9B	NVDA, AVGO, AMD, META, MSFT
Q3 2025	235	$20.7B	NVDA, META, AVGO, MSFT, NET
Q2 2025	249	$19.0B	NVDA, META, AVGO, MSFT, AMD
Q1 2025	258	$16.3B	NVDA, META, MSFT, AVGO, RNR
Q4 2024	271	$17.7B	NVDA, META, AVGO, MSFT, AAPL
Q3 2024	263	$20.8B	SW, NVDA, META, FERG, MSFT
Q2 2024	246	$16.8B	NVDA, MSFT, META, AVGO, GOOG
Q1 2024	252	$18.9B	FERG, NVDA, MSFT, INDV, META