Polymer Capital Management (US) LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Polymer Capital Management (US) LLC reported 469 stock positions worth $330.9 million. Its top holding was Nvidia (NVDA) at 3.0% of the portfolio, followed by Entergy (ETR, 2.3%) and Xcel Energy (XEL, 2.2%). Compared with Q4 2024, it opened 284 new positions, sold out of 147, added to 126 and reduced 59. The biggest buy was a new position in Exelon (EXC) and the biggest sale an exit from Marvell Technology (MRVL).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001973324
- Portfolio Value
- $330.9M (Q1 2025)
- SEC Filing
- 0001973324-25-000006 ↗ filed May 15, 2025
Holdings Value
Holdings 469 stocks · $330.9M
| NVDA Nvidia Corp. | 2.99% | 91,385 | $9.9M | Reduce -8.4% |
| ETR Entergy Corp. | 2.27% | 88,007 | $7.5M | Reduce -41.8% |
| XEL Xcel Energy Inc. | 2.25% | 105,116 | $7.4M | Reduce -1.7% |
| NI Nisource Inc. | 2.18% | 180,000 | $7.2M | Reduce -52.0% |
| LITE Lumentum Holdings Inc. | 2.00% | 106,000 | $6.6M | Add +29.4% |
| SNDK Sandisk Corp. | 1.98% | 137,927 | $6.6M | Add +332.5% |
| CNP Centerpoint Energy Inc. | 1.53% | 140,000 | $5.1M | Reduce -60.0% |
| EXC Exelon Corp. | 1.53% | 110,000 | $5.1M | New |
| WDC Western Digital Corp. | 1.40% | 114,928 | $4.6M | Add +20.0% |
| LPLA LPL Financial Holdings Inc. | 1.24% | 12,500 | $4.1M | New |
| SNPS Synopsys Inc. | 1.17% | 9,009 | $3.9M | Reduce -5.4% |
| DQ Daqo New Energy Corp.-ADR | 1.07% | 194,586 | $3.5M | Reduce -5.0% |
| EVRG Evergy Inc. | 1.05% | 50,551 | $3.5M | Reduce -15.8% |
| SMTC Semtech Corp. | 1.04% | 100,400 | $3.5M | New |
| ON On Semiconductor | 1.00% | 81,174 | $3.3M | New |
| STM Stmicroelectronics NV-NY SHS | 0.99% | 149,900 | $3.3M | Add +69.8% |
| MMM 3M Co. | 0.96% | 21,655 | $3.2M | Reduce -1.6% |
| PH Parker Hannifin Corp. | 0.96% | 5,200 | $3.2M | Reduce -12.2% |
| POR Portland General Electric Co. | 0.94% | 70,000 | $3.1M | Reduce -53.3% |
| ALGM Allegro Microsystems Inc. | 0.93% | 122,807 | $3.1M | New |
| DTE DTE Energy Company | 0.85% | 20,347 | $2.8M | Reduce -81.5% |
| ED Consolidated Edison Inc. | 0.84% | 25,000 | $2.8M | Add +181.0% |
| FG F&G Annuities & Life Inc. | 0.82% | 75,000 | $2.7M | New |
| CMS CMS Energy Corp. | 0.79% | 35,000 | $2.6M | Reduce -12.5% |
| AEE Ameren Corporation | 0.76% | 25,000 | $2.5M | Reduce -16.7% |
| INTC Intel Corp. | 0.74% | 107,994 | $2.5M | Add +878.8% |
| ETN Eaton Corp. PLC | 0.73% | 8,851 | $2.4M | Reduce -2.0% |
| VRT Vertiv Holdings Co. Class A | 0.72% | 33,214 | $2.4M | Add +564.3% |
| LIN Linde PLC | 0.70% | 5,000 | $2.3M | New |
| IP International Paper Co. | 0.70% | 43,200 | $2.3M | New |
| AXTA Axalta Coating Systems Ltd. | 0.68% | 67,812 | $2.2M | Reduce -60.9% |
| ARRY Array Technologies Inc. | 0.67% | 453,125 | $2.2M | New |
| MPWR Monolithic Power Systems Inc. | 0.67% | 3,800 | $2.2M | New |
| NUE Nucor Corp. | 0.66% | 18,057 | $2.2M | New |
| INR Infinity Natural Resour Class A | 0.62% | 110,000 | $2.1M | New |
| TEL Te Connectivity PLC | 0.59% | 13,800 | $2.0M | New |
| NXT Nextpower Inc. filed as NEXTRACKER INC | 0.58% | 45,548 | $1.9M | Add +591.1% |
| SHW The Sherwin-Williams Co. | 0.58% | 5,475 | $1.9M | Reduce -36.4% |
| EMN Eastman Chemical Co. | 0.57% | 21,224 | $1.9M | Reduce -10.1% |
| VSH Vishay Intertechnology Inc. | 0.55% | 115,400 | $1.8M | Reduce -51.0% |
| DD Dupont DE Nemours Inc. | 0.54% | 23,955 | $1.8M | Reduce -20.1% |
| DOV Dover Corp. | 0.53% | 9,934 | $1.7M | New |
| TDG Transdigm Group Inc. | 0.47% | 1,124 | $1.6M | New |
| PHM Pultegroup Inc. | 0.47% | 15,082 | $1.6M | New |
| PWR Quanta Services Inc. | 0.46% | 6,000 | $1.5M | Add +200.0% |
| CEVA Ceva Inc. | 0.45% | 57,610 | $1.5M | Add +640.3% |
| ORA Ormat Technologies Inc. | 0.43% | 19,936 | $1.4M | Reduce -73.7% |
| DADA Dada Nexus Ltd.-ADR | 0.42% | 744,700 | $1.4M | New |
| GDX Vaneck Gold Miners ETF | 0.40% | 29,000 | $1.3M | Add +107.1% |
| TSEM Tower Semiconductor Ltd. | 0.37% | 34,700 | $1.2M | Reduce -60.1% |
| GS Goldman Sachs Group Inc. | 0.36% | 2,195 | $1.2M | New |
| ACI Albertsons Cos Inc. Class A | 0.34% | 50,748 | $1.1M | Add +56.3% |
| PVH PVH Corp. | 0.34% | 17,217 | $1.1M | Add +335.2% |
| CRH CRH PLC | 0.32% | 12,086 | $1.1M | Reduce -77.1% |
| CMI Cummins Inc. | 0.32% | 3,328 | $1.0M | Reduce -73.0% |
| CPT Camden Property Trust | 0.30% | 8,228 | $1.0M | Add +56.1% |
| CCK Crown Holdings Inc. | 0.30% | 11,000 | $982K | New |
| MAS Masco Corp. | 0.29% | 13,992 | $973K | New |
| ITB iShares U.S. Home Constructi | 0.29% | 10,200 | $971K | Add +24.4% |
| AME Ametek Inc. | 0.29% | 5,638 | $971K | New |
| LII Lennox International Inc. | 0.29% | 1,722 | $966K | New |
| ECL Ecolab Inc. | 0.29% | 3,800 | $963K | New |
| AEM Agnico Eagle Mines Ltd. | 0.29% | 8,800 | $954K | Add +39.7% |
| WM Waste Management Inc. | 0.28% | 4,016 | $930K | Add +145.2% |
| BA The Boeing Co. | 0.27% | 5,320 | $907K | Reduce -80.0% |
| LYFT LYFT Inc. Class A | 0.27% | 75,969 | $902K | New |
| PLD Prologis Inc. | 0.27% | 7,886 | $882K | New |
| ADP Automatic Data Processing | 0.25% | 2,744 | $838K | Add +13.2% |
| M Macy's Inc. | 0.25% | 66,664 | $837K | Add +514.4% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.25% | 11,561 | $828K | New |
| EOG EOG Resources Inc. | 0.24% | 6,262 | $803K | New |
| SBAC SBA Communications Corp. | 0.24% | 3,631 | $799K | New |
| AMAT Applied Materials Inc. | 0.24% | 5,503 | $799K | Add +60.0% |
| NXPI NXP Semiconductors NV | 0.24% | 4,199 | $798K | Add +122.2% |
| AVB Avalonbay Communities Inc. | 0.24% | 3,675 | $789K | Reduce -2.1% |
| DTM DT Midstream Inc. | 0.24% | 8,171 | $788K | New |
| MS Morgan Stanley | 0.24% | 6,730 | $785K | New |
| ARES Ares Management Corp. Class A | 0.24% | 5,323 | $780K | New |
| PGR Progressive Corp. | 0.23% | 2,746 | $777K | Add +98.7% |
| NOW ServiceNow Inc. | 0.23% | 963 | $767K | New |
| SFM Sprouts Farmers Market Inc. | 0.23% | 4,908 | $749K | Add +1.6% |
| EXR Extra Space Storage Inc. | 0.22% | 4,995 | $742K | New |
| HAL Halliburton Co. | 0.22% | 29,130 | $739K | Add +194.0% |
| BYD Boyd Gaming Corp. | 0.22% | 11,127 | $732K | New |
| META Meta Platforms Inc. Class A | 0.22% | 1,256 | $724K | Add +70.4% |
| CSX CSX Corp. | 0.21% | 23,389 | $688K | New |
| HIMS Hims & Hers Health Inc. | 0.21% | 23,264 | $687K | Add +47.7% |
| SO The Southern Co. | 0.21% | 7,437 | $684K | New |
| C Citigroup Inc. | 0.20% | 9,551 | $678K | New |
| STLD Steel Dynamics Inc. | 0.20% | 5,407 | $676K | Add +200.4% |
| SN Sharkninja Inc. | 0.20% | 8,101 | $676K | New |
| WH Wyndham Hotels & Resorts Inc. | 0.20% | 7,447 | $674K | New |
| HELE Helen of Troy Ltd. | 0.20% | 12,558 | $672K | New |
| O Realty Income Corp. | 0.20% | 11,543 | $670K | Add +141.2% |
| LZB La-Z-Boy Inc. | 0.20% | 16,822 | $658K | New |
| RSI Rush Street Interactive Inc. | 0.20% | 61,000 | $654K | Add +104.2% |
| GEV GE Vernova Inc. | 0.20% | 2,141 | $654K | New |
| DG Dollar General Corp. | 0.20% | 7,381 | $649K | Reduce -11.2% |
| FRT Federal Realty Invs Trust | 0.19% | 6,573 | $643K | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.19% | 5,264 | $641K | New |
Options reported separately and not counted above: GEV puts ($8.1M), FCX calls ($7.6M), GEV calls ($6.9M), NUE calls ($5.4M), FCX puts ($5.1M), NUE puts ($3.9M), VRT puts ($3.6M), QQQ puts ($2.3M), CE puts ($2.3M), BA calls ($2.1M), UNG puts ($2.0M), ALB puts ($1.4M), and 6 more.
Portfolio Sells Q4 2024 → Q1 2025
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −4.19 |
| DTE DTE Energy Company | Reduce -81.5% | 0.85% | −3.41 |
| NI Nisource Inc. | Reduce -52.0% | 2.18% | −2.24 |
| CNP Centerpoint Energy Inc. | Reduce -60.0% | 1.53% | −2.03 |
| PCG P G & E Corp. | Sold out | 0.00% | −1.60 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −1.46 |
| ETR Entergy Corp. | Reduce -41.8% | 2.27% | −1.40 |
| NVDA Nvidia Corp. | Reduce -8.4% | 2.99% | −1.30 |
| CRH CRH PLC | Reduce -77.1% | 0.32% | −1.24 |
| BA The Boeing Co. | Reduce -80.0% | 0.27% | −1.24 |
| AXTA Axalta Coating Systems Ltd. | Reduce -60.9% | 0.68% | −1.22 |
| ORA Ormat Technologies Inc. | Reduce -73.7% | 0.43% | −1.22 |
| POR Portland General Electric Co. | Reduce -53.3% | 0.94% | −1.15 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −1.13 |
| CMI Cummins Inc. | Reduce -73.0% | 0.32% | −1.06 |
| TSEM Tower Semiconductor Ltd. | Reduce -60.1% | 0.37% | −1.06 |
| URI United Rentals Inc. | Sold out | 0.00% | −1.04 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −0.94 |
| BTDR Bitdeer Technologies Group-A | Reduce -70.0% | 0.12% | −0.92 |
| TT Trane Technologies PLC | Sold out | 0.00% | −0.85 |
| CRDO Credo Technology Group Holdi | Sold out | 0.00% | −0.82 |
| PEG Public Service Enterprise GP | Sold out | 0.00% | −0.81 |
| EMR Emerson Electric Co. | Sold out | 0.00% | −0.77 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.74 |
| VSH Vishay Intertechnology Inc. | Reduce -51.0% | 0.55% | −0.72 |
| TREX Trex Company Inc. | Sold out | 0.00% | −0.68 |
| FXI iShares China Large-Cap ETF | Sold out | 0.00% | −0.68 |
| IFF Intl Flavors & Fragrances | Sold out | 0.00% | −0.67 |
| AA Alcoa Corp. | Reduce -69.8% | 0.19% | −0.64 |
| PNW Pinnacle West Capital | Sold out | 0.00% | −0.53 |
| CMC Commercial Metals Co. | Sold out | 0.00% | −0.42 |
| SHW The Sherwin-Williams Co. | Reduce -36.4% | 0.58% | −0.36 |
| STAG Stag Industrial Inc. | Sold out | 0.00% | −0.34 |
| SNPS Synopsys Inc. | Reduce -5.4% | 1.17% | −0.31 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.31 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.31 |
| CNH CNH Industrial NV | Sold out | 0.00% | −0.29 |
| BALL Ball Corp. | Sold out | 0.00% | −0.29 |
| HUN Huntsman Corp. | Reduce -64.2% | 0.12% | −0.28 |
| FLR Fluor Corp. | Sold out | 0.00% | −0.28 |
| AMP Ameriprise Financial Inc. | Sold out | 0.00% | −0.26 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −0.26 |
| PH Parker Hannifin Corp. | Reduce -12.2% | 0.96% | −0.25 |
| JCI Johnson Controls Internation | Sold out | 0.00% | −0.24 |
| ETN Eaton Corp. PLC | Reduce -2.0% | 0.73% | −0.23 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −0.23 |
| ESS Essex Property Trust Inc. | Sold out | 0.00% | −0.23 |
| MRSH Marsh & McLennan Cos | Sold out | 0.00% | −0.23 |
| TKR Timken Co. | Sold out | 0.00% | −0.22 |
| DQ Daqo New Energy Corp.-ADR | Reduce -5.0% | 1.07% | −0.21 |
Portfolio Buys Q4 2024 → Q1 2025
| EXC Exelon Corp. | New | 1.53% | +1.53 |
| SNDK Sandisk Corp. | Add +332.5% | 1.98% | +1.50 |
| LPLA LPL Financial Holdings Inc. | New | 1.24% | +1.24 |
| SMTC Semtech Corp. | New | 1.04% | +1.04 |
| ON On Semiconductor | New | 1.00% | +1.00 |
| ALGM Allegro Microsystems Inc. | New | 0.93% | +0.93 |
| FG F&G Annuities & Life Inc. | New | 0.82% | +0.82 |
| LIN Linde PLC | New | 0.70% | +0.70 |
| IP International Paper Co. | New | 0.70% | +0.70 |
| INTC Intel Corp. | Add +878.8% | 0.74% | +0.67 |
| ARRY Array Technologies Inc. | New | 0.67% | +0.67 |
| MPWR Monolithic Power Systems Inc. | New | 0.67% | +0.67 |
| NUE Nucor Corp. | New | 0.66% | +0.66 |
| INR Infinity Natural Resour Class A | New | 0.62% | +0.62 |
| TEL Te Connectivity PLC | New | 0.59% | +0.59 |
| ED Consolidated Edison Inc. | Add +181.0% | 0.84% | +0.58 |
| VRT Vertiv Holdings Co. Class A | Add +564.3% | 0.72% | +0.54 |
| DOV Dover Corp. | New | 0.53% | +0.53 |
| NXT Nextpower Inc. | Add +591.1% | 0.58% | +0.50 |
| TDG Transdigm Group Inc. | New | 0.47% | +0.47 |
| PHM Pultegroup Inc. | New | 0.47% | +0.47 |
| DADA Dada Nexus Ltd.-ADR | New | 0.42% | +0.42 |
| CEVA Ceva Inc. | Add +640.3% | 0.45% | +0.37 |
| GS Goldman Sachs Group Inc. | New | 0.36% | +0.36 |
| CCK Crown Holdings Inc. | New | 0.30% | +0.30 |
| MAS Masco Corp. | New | 0.29% | +0.29 |
| AME Ametek Inc. | New | 0.29% | +0.29 |
| LII Lennox International Inc. | New | 0.29% | +0.29 |
| ECL Ecolab Inc. | New | 0.29% | +0.29 |
| STM Stmicroelectronics NV-NY SHS | Add +69.8% | 0.99% | +0.29 |
| LYFT LYFT Inc. Class A | New | 0.27% | +0.27 |
| PLD Prologis Inc. | New | 0.27% | +0.27 |
| PWR Quanta Services Inc. | Add +200.0% | 0.46% | +0.26 |
| GDX Vaneck Gold Miners ETF | Add +107.1% | 0.40% | +0.25 |
| VMRK Vivmark Residential | New | 0.25% | +0.25 |
| EOG EOG Resources Inc. | New | 0.24% | +0.24 |
| SBAC SBA Communications Corp. | New | 0.24% | +0.24 |
| DTM DT Midstream Inc. | New | 0.24% | +0.24 |
| MS Morgan Stanley | New | 0.24% | +0.24 |
| ARES Ares Management Corp. Class A | New | 0.24% | +0.24 |
| NOW ServiceNow Inc. | New | 0.23% | +0.23 |
| EXR Extra Space Storage Inc. | New | 0.22% | +0.22 |
| BYD Boyd Gaming Corp. | New | 0.22% | +0.22 |
| CSX CSX Corp. | New | 0.21% | +0.21 |
| SO The Southern Co. | New | 0.21% | +0.21 |
| C Citigroup Inc. | New | 0.20% | +0.20 |
| SN Sharkninja Inc. | New | 0.20% | +0.20 |
| WH Wyndham Hotels & Resorts Inc. | New | 0.20% | +0.20 |
| HELE Helen of Troy Ltd. | New | 0.20% | +0.20 |
| PVH PVH Corp. | Add +335.2% | 0.34% | +0.20 |
Options Activity Q4 2024 → Q1 2025
| GEV GE Vernova Inc. | put | New | 26,500 | $8.1M |
| FCX Freeport-McMoran Inc. | call | New | 200,000 | $7.6M |
| EATON CORP PLC | put | Sold out | 22,500 | $7.5Mbefore exit |
| GEV GE Vernova Inc. | call | New | 22,500 | $6.9M |
| ALBEMARLE CORP | call | Sold out | 65,000 | $5.6Mbefore exit |
| NUE Nucor Corp. | call | New | 45,000 | $5.4M |
| FCX Freeport-McMoran Inc. | put | New | 135,000 | $5.1M |
| TRANE TECHNOLOGIES PLC | put | Sold out | 12,500 | $4.6Mbefore exit |
| PARKER-HANNIFIN CORP | call | Sold out | 7,000 | $4.5Mbefore exit |
| INVESCO QQQ TR | put | Sold out | 8,000 | $4.1Mbefore exit |
| NUE Nucor Corp. | put | New | 32,500 | $3.9M |
| VRT Vertiv Holdings Co. Class A | put | New | 50,000 | $3.6M |
| ALBEMARLE CORP | put | Sold out | 40,000 | $3.4Mbefore exit |
| VERTIV HOLDINGS CO | put | Sold out | 30,000 | $3.4Mbefore exit |
| ALCOA CORP | put | Sold out | 80,000 | $3.0Mbefore exit |
| STATE STR SPDR S&P 500 ETF T | put | Sold out | 5,000 | $2.9Mbefore exit |
| STEEL DYNAMICS INC | call | Sold out | 25,000 | $2.9Mbefore exit |
| ISHARES TR | call | Sold out | 11,000 | $2.4Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | put | New | 5,000 | $2.3M |
| FREEPORT MCMORAN INC | call | Sold out | 60,000 | $2.3Mbefore exit |
| CE Celanese Corp. | put | New | 40,000 | $2.3M |
| BA The Boeing Co. | call | New | 12,500 | $2.1M |
| UNITED RENTALS INC | call | Sold out | 3,000 | $2.1Mbefore exit |
| UNG US Natural Gas Fund LP | put | New | 93,200 | $2.0M |
| ALCOA CORP | call | Sold out | 50,000 | $1.9Mbefore exit |
| GE AEROSPACE | put | Sold out | 10,000 | $1.7Mbefore exit |
| QUANTA SVCS INC | put | Sold out | 5,000 | $1.6Mbefore exit |
| ALB Albemarle Corp. | put | New | 20,000 | $1.4M |
| ITB iShares U.S. Home Constructi | call | New | 15,000 | $1.4M |
| FDX FedEx Corp. | put | New | 5,000 | $1.2M |
| XME SS SPDR S&P Metals Mining | put | New | 20,000 | $1.1M |
| CENTURY ALUM CO | call | Sold out | 60,000 | $1.1Mbefore exit |
| FREEPORT MCMORAN INC | put | Sold out | 25,000 | $952Kbefore exit |
| AA Alcoa Corp. | put | New | 30,000 | $915K |
| CENTURY ALUM CO | put | Sold out | 50,000 | $911Kbefore exit |
| AA Alcoa Corp. | call | New | 25,000 | $763K |
| OLN Olin Corp. | put | New | 30,000 | $727K |
| STATE STR SPDR S&P 500 ETF T | call | Sold out | 1,000 | $586Kbefore exit |
| INVESCO QQQ TR | call | Sold out | 1,000 | $511Kbefore exit |
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 | 602 | $675.0M | GOOGL, GLD, LITE, ETR, SMTC |
| Q1 2026 | 733 | $675.1M | NVDA, LITE, AVGO, GLW, ASML |
| Q4 2025 | 704 | $773.6M | MU, NVDA, LITE, AMD, MCHP |
| Q3 2025 | 702 | $753.1M | LITE, NVDA, TSLA, XEL, AEE |
| Q2 2025 | 542 | $610.6M | NVDA, LITE, FSLR, VRT, UBER |
| Q1 2025 | 469 | $330.9M | NVDA, ETR, XEL, NI, LITE |
| Q4 2024 | 331 | $312.0M | NI, NVDA, DTE, MRVL, ETR |