Polymer Capital Management (HK) LTD
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Polymer Capital Management (HK) LTD reported 167 stock positions worth $570.8 million. Its top holding was Amazon.com (AMZN) at 6.2% of the portfolio, followed by Amer Sports (AS, 5.5%) and Boeing (BA, 3.3%). Compared with Q3 2024, it opened 75 new positions, sold out of 59, added to 52 and reduced 40. The biggest buy was Amazon.com (AMZN, shares +502%) and the biggest sale Alibaba Group Holding-SP ADR (BABA, shares −73%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001970465
- Portfolio Value
- $570.8M (Q4 2024)
- SEC Filing
- 0001970465-25-000004 ↗ filed Feb 13, 2025
Holdings Value
Holdings 167 stocks · $570.8M
| AMZN Amazon.com Inc. | 6.25% | 162,519 | $35.7M | Add +501.8% |
| AS Amer Sports Inc. | 5.53% | 1,129,736 | $31.6M | Add +157.4% |
| BA The Boeing Co. | 3.29% | 105,970 | $18.8M | New |
| NVDA Nvidia Corp. | 3.06% | 130,266 | $17.5M | Add +52.7% |
| TSM Taiwan Semiconductor-SP ADR | 2.99% | 86,493 | $17.1M | Add +47.7% |
| JD Jd.com Inc.-ADR | 2.85% | 469,590 | $16.3M | Reduce -16.9% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 2.60% | 386,863 | $14.8M | Add +167.7% |
| PDD PDD Holdings Inc. | 2.40% | 141,155 | $13.7M | Add +11.1% |
| META Meta Platforms Inc. Class A | 2.19% | 21,345 | $12.5M | Reduce -27.7% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 2.13% | 151,685 | $12.1M | Reduce -31.2% |
| TLT iShares 20+ Year Treasury BD | 1.95% | 127,594 | $11.1M | Add +148.3% |
| AVGO Broadcom Inc. | 1.85% | 45,600 | $10.6M | Add +34.9% |
| TPR Tapestry Inc. | 1.84% | 160,342 | $10.5M | New |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 1.82% | 564,845 | $10.4M | Add +106.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.65% | 16,079 | $9.4M | Add +904.3% |
| TAL Tal Education Group- ADR | 1.64% | 932,622 | $9.3M | Add +67.1% |
| BILI Bilibili Inc.-Sponsored ADR | 1.56% | 490,957 | $8.9M | Reduce -20.8% |
| DECK Deckers Outdoor Corp. | 1.35% | 37,816 | $7.7M | Add +12.2% |
| TCOM Trip.com Group Ltd.-ADR | 1.34% | 111,318 | $7.6M | Reduce -23.3% |
| HDB HDFC Bank Ltd.-ADR | 1.34% | 119,596 | $7.6M | New |
| GEV GE Vernova Inc. | 1.30% | 22,502 | $7.4M | Reduce -71.2% |
| SITM Sitime Corp. | 1.29% | 34,386 | $7.4M | Add +434.1% |
| SOXX iShares Semiconductor ETF | 1.01% | 26,846 | $5.8M | Add +524.3% |
| MRVL Marvell Technology Inc. | 0.97% | 50,303 | $5.6M | Add +711.3% |
| EDU New Oriental Educatio-SP ADR | 0.93% | 83,000 | $5.3M | Add +25.6% |
| AAPL Apple Inc. | 0.90% | 20,447 | $5.1M | Reduce -23.1% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.84% | 87,255 | $4.8M | Add +61.9% |
| DELL Dell Technologies -C | 0.84% | 41,397 | $4.8M | Add +139.3% |
| SPGI S&P Global Inc. | 0.84% | 9,571 | $4.8M | New |
| XLY SS Consumer Disc Select Sect | 0.83% | 21,000 | $4.7M | Add +228.1% |
| YMM Full Truck Alliance -SPN ADR | 0.82% | 430,672 | $4.7M | Reduce -8.2% |
| XLF SS Financial Select Sector | 0.81% | 95,312 | $4.6M | Add +369.2% |
| MSFT Microsoft Corp. | 0.80% | 10,897 | $4.6M | Add +13.5% |
| TSLA Tesla Inc. | 0.79% | 11,163 | $4.5M | Reduce -29.8% |
| BABA Alibaba Group Holding-SP ADR | 0.78% | 52,600 | $4.5M | Reduce -73.0% |
| VST Vistra Corp. | 0.72% | 29,779 | $4.1M | Add +10.2% |
| GOOG Alphabet Inc. Class C | 0.71% | 21,322 | $4.1M | Reduce -37.5% |
| ARGT Global X MSCI Argentina ETF | 0.71% | 49,100 | $4.1M | New |
| WMT Walmart Inc. | 0.70% | 44,364 | $4.0M | Add +355.0% |
| ANET Arista Networks Inc. | 0.70% | 36,152 | $4.0M | Add +2.3% |
| XLE SS Energy Select Sector | 0.69% | 46,086 | $3.9M | New |
| SMMT Summit Therapeutics Inc. | 0.69% | 219,820 | $3.9M | New |
| GLD SPDR Gold Shares | 0.68% | 16,100 | $3.9M | Add +21.7% |
| LLY Eli Lilly & Co. | 0.67% | 4,958 | $3.8M | Add +891.6% |
| AMD Advanced Micro Devices | 0.66% | 31,300 | $3.8M | Reduce -21.4% |
| NKE Nike Inc. Class B | 0.65% | 48,800 | $3.7M | New |
| CRDO Credo Technology Group Holdi | 0.64% | 54,609 | $3.7M | New |
| VIPS Vipshop Holdings Ltd. - ADR | 0.63% | 267,300 | $3.6M | Add +2302.1% |
| BZ Kanzhun Ltd. - ADR | 0.60% | 247,492 | $3.4M | Add +1267.4% |
| APH Amphenol Corp. Class A | 0.57% | 47,100 | $3.3M | Add +88.4% |
| LITE Lumentum Holdings Inc. | 0.56% | 38,412 | $3.2M | Add +13.3% |
| ASX Ase Technology Holding -ADR | 0.54% | 305,500 | $3.1M | Add +143.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.53% | 5,868 | $3.0M | Add +207.1% |
| URTY Proshares Ultrapro RUSS2000 | 0.52% | 60,000 | $3.0M | New |
| IREN Iren Ltd. filed as IREN LIMITED | 0.51% | 297,328 | $2.9M | Add +147.8% |
| CCL Carnival Corp. | 0.50% | 114,900 | $2.9M | Reduce -28.3% |
| MLCO Melco Resorts & Entert-ADR | 0.50% | 493,091 | $2.9M | Add +26.1% |
| HUBS HubSpot Inc. | 0.48% | 3,902 | $2.7M | New |
| ALAB Astera Labs Inc. | 0.47% | 20,051 | $2.7M | New |
| SPOT Spotify Technology SA | 0.45% | 5,802 | $2.6M | Reduce -54.8% |
| SYF Synchrony Financial | 0.45% | 39,893 | $2.6M | New |
| DDL Dingdong Cayman Ltd. -SPN ADR | 0.45% | 789,648 | $2.6M | New |
| RL Ralph Lauren Corp. | 0.45% | 11,000 | $2.5M | New |
| HLT Hilton Worldwide Holdings Inc. | 0.43% | 10,000 | $2.5M | Reduce -16.7% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.43% | 10,313 | $2.4M | New |
| MPWR Monolithic Power Systems Inc. | 0.42% | 4,100 | $2.4M | Add +530.8% |
| ATAT Atour Lifestyle Holdings-ADR | 0.42% | 89,200 | $2.4M | New |
| XLP SS Consumer Staples Sel Sect | 0.42% | 30,500 | $2.4M | Add +156.3% |
| BKNG Booking Holdings Inc. | 0.42% | 480 | $2.4M | Add +700.0% |
| RDDT Reddit Inc. Class A | 0.42% | 14,579 | $2.4M | Reduce -79.5% |
| GAP The Gap Inc. | 0.41% | 100,000 | $2.4M | Reduce -16.7% |
| LVS Las Vegas Sands Corp. | 0.40% | 45,000 | $2.3M | New |
| SE Sea Ltd.-ADR | 0.40% | 21,300 | $2.3M | Reduce -61.1% |
| IVV iShares Core S&P 500 ETF | 0.38% | 3,700 | $2.2M | New |
| ON On Semiconductor | 0.38% | 34,000 | $2.1M | New |
| RCL Royal Caribbean Cruises Ltd. | 0.36% | 9,000 | $2.1M | Reduce -40.0% |
| WDC Western Digital Corp. | 0.36% | 34,050 | $2.0M | New |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.35% | 4,750 | $2.0M | Add +763.6% |
| CEG Constellation Energy | 0.35% | 9,000 | $2.0M | Add +1.5% |
| SN Sharkninja Inc. | 0.35% | 20,420 | $2.0M | Reduce -37.2% |
| HTHT H World Group Ltd.-ADR | 0.35% | 60,000 | $2.0M | Reduce -25.0% |
| PI Impinj Inc. | 0.34% | 13,500 | $2.0M | New |
| ZTO Zto Express Cayman Inc.-ADR | 0.34% | 99,656 | $1.9M | New |
| APP AppLovin Corp. Class A | 0.33% | 5,800 | $1.9M | Reduce -49.6% |
| AOSL Alpha & Omega Semiconductor | 0.32% | 49,377 | $1.8M | New |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.31% | 75,276 | $1.8M | Reduce -57.6% |
| IBKR Interactive Brokers Gro Class A | 0.31% | 9,906 | $1.8M | New |
| CRM Salesforce Inc. | 0.30% | 5,050 | $1.7M | New |
| XLI SS Industrial Select Sector | 0.30% | 12,800 | $1.7M | Add +34.7% |
| TER Teradyne Inc. | 0.29% | 12,979 | $1.6M | New |
| TRML Tourmaline Bio Inc. | 0.28% | 79,400 | $1.6M | New |
| YUMC Yum China Holdings Inc. | 0.27% | 31,600 | $1.5M | New |
| FOX Fox Corp. Class B | 0.26% | 32,400 | $1.5M | Reduce -67.6% |
| Z Zillow Group Inc. Class C | 0.26% | 20,000 | $1.5M | Reduce -71.4% |
| XLK SS Technology Select Sector | 0.26% | 6,366 | $1.5M | Add +55.3% |
| GOOGL Alphabet Inc. Class A | 0.26% | 7,700 | $1.5M | New |
| QCOM Qualcomm Inc. | 0.25% | 9,300 | $1.4M | Add +520.0% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.24% | 18,384 | $1.4M | Add +119.3% |
| WYNN WYNN Resorts Ltd. | 0.24% | 16,000 | $1.4M | New |
| NET Cloudflare Inc. Class A | 0.24% | 12,541 | $1.4M | Add +100.7% |
Options reported separately and not counted above: AMD calls ($3.1M), AS puts ($2.8M).
Portfolio Sells Q3 2024 → Q4 2024
| BABA Alibaba Group Holding-SP ADR | Reduce -73.0% | 0.78% | −3.99 |
| GEV GE Vernova Inc. | Reduce -71.2% | 1.30% | −3.31 |
| FUTU Futu Holdings Ltd.-ADR | Reduce -31.2% | 2.13% | −2.75 |
| JD Jd.com Inc.-ADR | Reduce -16.9% | 2.85% | −2.38 |
| BILI Bilibili Inc.-Sponsored ADR | Reduce -20.8% | 1.56% | −1.80 |
| META Meta Platforms Inc. Class A | Reduce -27.7% | 2.19% | −1.72 |
| NTES Netease Inc.-ADR | Reduce -85.4% | 0.15% | −1.24 |
| COHR Coherent Corp. | Sold out | 0.00% | −1.23 |
| ASHR Xtrackers Harvest Csi 300 CH | Sold out | 0.00% | −1.22 |
| SNPS Synopsys Inc. | Reduce -90.5% | 0.09% | −1.18 |
| CIEN Ciena Corp. | Sold out | 0.00% | −1.02 |
| CTLT Catalent Inc. | Sold out | 0.00% | −0.98 |
| ILMN Illumina Inc. | Sold out | 0.00% | −0.91 |
| AMD Advanced Micro Devices | Reduce -21.4% | 0.66% | −0.85 |
| NXPI NXP Semiconductors NV | Sold out | 0.00% | −0.83 |
| ARGX Argenx SE - ADR | Sold out | 0.00% | −0.83 |
| SE Sea Ltd.-ADR | Reduce -61.1% | 0.40% | −0.80 |
| Z Zillow Group Inc. Class C | Reduce -71.4% | 0.26% | −0.77 |
| ZK Zeekr Intelligent Techno-ADR | Reduce -85.5% | 0.12% | −0.76 |
| RDDT Reddit Inc. Class A | Reduce -79.5% | 0.42% | −0.67 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -23.3% | 1.34% | −0.66 |
| SPOT Spotify Technology SA | Reduce -54.8% | 0.45% | −0.64 |
| FOX Fox Corp. Class B | Reduce -67.6% | 0.26% | −0.64 |
| GOOG Alphabet Inc. Class C | Reduce -37.5% | 0.71% | −0.61 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.56 |
| BNTX Biontech SE-ADR | Sold out | 0.00% | −0.55 |
| AAPL Apple Inc. | Reduce -23.1% | 0.90% | −0.54 |
| GDS GDS Holdings Ltd. - ADR | Reduce -57.6% | 0.31% | −0.52 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.47 |
| SN Sharkninja Inc. | Reduce -37.2% | 0.35% | −0.47 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.40 |
| SKX Skechers USA Inc. Class A | Reduce -70.4% | 0.11% | −0.39 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −0.38 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.38 |
| IGV iShares Expanded Tech-Softwa | Sold out | 0.00% | −0.35 |
| HTHT H World Group Ltd.-ADR | Reduce -25.0% | 0.35% | −0.34 |
| NOW ServiceNow Inc. | Reduce -53.8% | 0.23% | −0.33 |
| CVNA Carvana Co. | Sold out | 0.00% | −0.32 |
| LEGN Legend Biotech Corp.-ADR | Reduce -31.3% | 0.16% | −0.31 |
| ORCL Oracle Corp. | Reduce -55.6% | 0.15% | −0.30 |
| IWM iShares Russell 2000 ETF | Reduce -50.9% | 0.18% | −0.30 |
| NFLX Netflix Inc. | Sold out | 0.00% | −0.29 |
| BSX Boston Scientific Corp. | Sold out | 0.00% | −0.29 |
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −0.25 |
| RCL Royal Caribbean Cruises Ltd. | Reduce -40.0% | 0.36% | −0.25 |
| GRAB Grab Holdings Ltd. Class A | Sold out | 0.00% | −0.25 |
| LBTYA Liberty Global Ltd. Class A | Sold out | 0.00% | −0.24 |
| IEI iShares 3-7 Year Treasury Bo | Sold out | 0.00% | −0.23 |
| IEF iShares 7-10 Year Treasury B | Sold out | 0.00% | −0.23 |
| ITA iShares U.S. Aerospace & Def | Sold out | 0.00% | −0.23 |
Portfolio Buys Q3 2024 → Q4 2024
| AMZN Amazon.com Inc. | Add +501.8% | 6.25% | +5.08 |
| AS Amer Sports Inc. | Add +157.4% | 5.53% | +3.91 |
| BA The Boeing Co. | New | 3.29% | +3.29 |
| TPR Tapestry Inc. | New | 1.84% | +1.84 |
| QFIN Qfin Holdings Inc.-ADR | Add +167.7% | 2.60% | +1.60 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +904.3% | 1.65% | +1.44 |
| HDB HDFC Bank Ltd.-ADR | New | 1.34% | +1.34 |
| SITM Sitime Corp. | Add +434.1% | 1.29% | +1.04 |
| MRVL Marvell Technology Inc. | Add +711.3% | 0.97% | +0.87 |
| SPGI S&P Global Inc. | New | 0.84% | +0.84 |
| TLT iShares 20+ Year Treasury BD | Add +148.3% | 1.95% | +0.79 |
| SOXX iShares Semiconductor ETF | Add +524.3% | 1.01% | +0.78 |
| ARGT Global X MSCI Argentina ETF | New | 0.71% | +0.71 |
| XLE SS Energy Select Sector | New | 0.69% | +0.69 |
| SMMT Summit Therapeutics Inc. | New | 0.69% | +0.69 |
| NVDA Nvidia Corp. | Add +52.7% | 3.06% | +0.67 |
| NKE Nike Inc. Class B | New | 0.65% | +0.65 |
| CRDO Credo Technology Group Holdi | New | 0.64% | +0.64 |
| TSM Taiwan Semiconductor-SP ADR | Add +47.7% | 2.99% | +0.64 |
| XLF SS Financial Select Sector | Add +369.2% | 0.81% | +0.59 |
| VIPS Vipshop Holdings Ltd. - ADR | Add +2302.1% | 0.63% | +0.59 |
| LLY Eli Lilly & Co. | Add +891.6% | 0.67% | +0.57 |
| BEKE Ke Holdings Inc.-ADR | Add +106.5% | 1.82% | +0.56 |
| XLY SS Consumer Disc Select Sect | Add +228.1% | 0.83% | +0.53 |
| BZ Kanzhun Ltd. - ADR | Add +1267.4% | 0.60% | +0.53 |
| WMT Walmart Inc. | Add +355.0% | 0.70% | +0.52 |
| URTY Proshares Ultrapro RUSS2000 | New | 0.52% | +0.52 |
| AVGO Broadcom Inc. | Add +34.9% | 1.85% | +0.50 |
| HUBS HubSpot Inc. | New | 0.48% | +0.48 |
| ALAB Astera Labs Inc. | New | 0.47% | +0.47 |
| SYF Synchrony Financial | New | 0.45% | +0.45 |
| DDL Dingdong Cayman Ltd. -SPN ADR | New | 0.45% | +0.45 |
| RL Ralph Lauren Corp. | New | 0.45% | +0.45 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.43% | +0.43 |
| ATAT Atour Lifestyle Holdings-ADR | New | 0.42% | +0.42 |
| LVS Las Vegas Sands Corp. | New | 0.40% | +0.40 |
| IVV iShares Core S&P 500 ETF | New | 0.38% | +0.38 |
| ON On Semiconductor | New | 0.38% | +0.38 |
| DELL Dell Technologies -C | Add +139.3% | 0.84% | +0.36 |
| BKNG Booking Holdings Inc. | Add +700.0% | 0.42% | +0.36 |
| WDC Western Digital Corp. | New | 0.36% | +0.36 |
| PI Impinj Inc. | New | 0.34% | +0.34 |
| ZTO Zto Express Cayman Inc.-ADR | New | 0.34% | +0.34 |
| AOSL Alpha & Omega Semiconductor | New | 0.32% | +0.32 |
| QQQ Invesco QQQ Trust Series 1 | Add +207.1% | 0.53% | +0.31 |
| IBKR Interactive Brokers Gro Class A | New | 0.31% | +0.31 |
| DIA SS SPDR Dow Jones Indus Avg | Add +763.6% | 0.35% | +0.30 |
| CRM Salesforce Inc. | New | 0.30% | +0.30 |
| TER Teradyne Inc. | New | 0.29% | +0.29 |
| MPWR Monolithic Power Systems Inc. | Add +530.8% | 0.42% | +0.29 |
Options Activity Q3 2024 → Q4 2024
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 140 | $984.8M | SNDK, LLY, NVDA, AMAT, MU |
| Q1 2026 | 147 | $713.5M | NVDA, PDD, LLY, SNDK, GLD |
| Q4 2025 | 126 | $642.5M | LLY, NVDA, PDD, GLD, TSM |
| Q3 2025 | 244 | $718.9M | NVDA, LLY, GOOG, GLD, PDD |
| Q2 2025 | 148 | $638.4M | AS, NVDA, AMD, META, SMMT |
| Q1 2025 | 128 | $576.3M | TPR, META, QFIN, AMD, BABA |
| Q4 2024 | 167 | $570.8M | AMZN, AS, BA, NVDA, TSM |
| Q3 2024 | 151 | $432.1M | JD, FUTU, BABA, GEV, PDD |
| Q2 2024 | 156 | $493.1M | AAPL, MSFT, AMZN, GOOG, NVDA |
| Q1 2024 | 194 | $397.2M | MSFT, NVDA, AMZN, VRT, PDD |