Polymer Capital Management (US) LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Polymer Capital Management (US) LLC reported 704 stock positions worth $773.6 million. Its top holding was Micron Technology (MU) at 2.5% of the portfolio, followed by Nvidia (NVDA, 2.5%) and Lumentum (LITE, 2.4%). Compared with Q3 2025, it opened 271 new positions, sold out of 271, added to 252 and reduced 173. The biggest buy was Micron Technology (MU, shares +3230%) and the biggest sale an exit from First Solar (FSLR).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001973324
Portfolio Value
$773.6M (Q4 2025)
SEC Filing
0001973324-26-000003 ↗ filed Feb 17, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q4 2024: $312.0M Q4 2024 Q1 2025: $330.9M Q1 2025 Q2 2025: $610.6M Q2 2025 Q3 2025: $753.1M Q3 2025 Q4 2025: $773.6M $773.6M Q4 2025 Q1 2026: $675.1M Q1 2026 Q2 2026: $675.0M Q2 2026

Holdings 704 stocks · $773.6M
MU Micron Technology Inc. 2.49% 67,430 $19.2M Add +3229.9%
NVDA Nvidia Corp. 2.46% 102,073 $19.0M Add +1.5%
LITE Lumentum Holdings Inc. 2.42% 50,696 $18.7M Reduce -57.8%
AMD Advanced Micro Devices 1.30% 46,911 $10.0M Add +983.9%
MCHP Microchip Technology Inc. 1.02% 124,386 $7.9M Add +47.1%
DTE DTE Energy Company 0.98% 58,786 $7.6M Reduce -2.3%
AEE Ameren Corporation 0.93% 72,225 $7.2M Reduce -48.4%
LIN Linde PLC 0.87% 15,807 $6.7M New
XEL Xcel Energy Inc. 0.86% 90,000 $6.6M Reduce -52.6%
QRVO Qorvo Inc. 0.76% 69,133 $5.8M Reduce -3.9%
VRT Vertiv Holdings Co. Class A 0.75% 35,979 $5.8M Reduce -31.1%
AEP American Electric Power 0.75% 50,000 $5.8M Add +536.5%
NEE Nextera Energy Inc. 0.70% 67,310 $5.4M New
ETR Entergy Corp. 0.69% 57,578 $5.3M Reduce -57.4%
SMA Smartstop Self Storage REIT 0.68% 171,140 $5.3M No change
TSLA Tesla Inc. 0.68% 11,719 $5.3M Reduce -70.4%
BA The Boeing Co. 0.68% 24,255 $5.3M Add +4.8%
NI Nisource Inc. 0.67% 125,000 $5.2M Reduce -54.1%
TSEM Tower Semiconductor Ltd. 0.66% 43,272 $5.1M Reduce -11.0%
RIG Transocean Ltd. 0.65% 1,219,672 $5.0M Add +18.9%
CNP Centerpoint Energy Inc. 0.64% 130,000 $5.0M Reduce -60.0%
KEYS Keysight Technologies Inc. 0.63% 23,968 $4.9M New
CRDO Credo Technology Group Holdi 0.59% 31,496 $4.5M Add +127.5%
PH Parker Hannifin Corp. 0.57% 5,000 $4.4M Add +2.2%
ONTO Onto Innovation Inc. 0.53% 26,212 $4.1M Reduce -32.1%
PSA Public Storage 0.51% 15,142 $3.9M New
TER Teradyne Inc. 0.50% 20,017 $3.9M Reduce -57.0%
AMAT Applied Materials Inc. 0.50% 14,923 $3.8M Add +527.3%
ECL Ecolab Inc. 0.48% 14,293 $3.8M Add +117.8%
ITT Itt Inc. 0.47% 21,089 $3.7M New
MDLN Medline Inc. Class A 0.46% 85,000 $3.6M New
RSG Republic Services Inc. 0.46% 16,681 $3.5M Add +673.0%
GEV GE Vernova Inc. 0.45% 5,314 $3.5M Reduce -26.2%
PPG PPG Industries Inc. 0.45% 33,644 $3.4M Add +76.7%
GDX Vaneck Gold Miners ETF 0.44% 40,000 $3.4M Add +18.7%
TFC Truist Financial Corp. 0.43% 68,381 $3.4M Add +393.1%
FCX Freeport-McMoran Inc. 0.43% 65,321 $3.3M Reduce -45.8%
GWW WW Grainger Inc. 0.41% 3,150 $3.2M New
CBRE CBRE Group Inc. Class A 0.40% 19,276 $3.1M Add +127.9%
CMI Cummins Inc. 0.40% 6,043 $3.1M Reduce -8.1%
GS Goldman Sachs Group Inc. 0.39% 3,467 $3.0M New
GOOGL Alphabet Inc. Class A 0.39% 9,583 $3.0M New
DD Dupont DE Nemours Inc. 0.38% 73,741 $3.0M Add +122.1%
PWR Quanta Services Inc. 0.38% 6,970 $2.9M Add +74.3%
POR Portland General Electric Co. 0.37% 60,000 $2.9M Reduce -48.1%
LYB Lyondellbasell Indu Class A 0.37% 66,382 $2.9M Add +36.3%
CAT Caterpillar Inc. 0.37% 5,000 $2.9M Add +11.1%
ROK Rockwell Automation Inc. 0.37% 7,287 $2.8M Reduce -36.8%
URI United Rentals Inc. 0.36% 3,469 $2.8M Add +215.4%
MPC Marathon Petroleum Corp. 0.36% 17,258 $2.8M Add +444.8%
ITB iShares U.S. Home Constructi 0.35% 28,500 $2.7M New
WEC WEC Energy Group Inc. 0.35% 25,998 $2.7M New
EMN Eastman Chemical Co. 0.35% 42,300 $2.7M Reduce -21.2%
CDE Coeur Mining Inc. 0.35% 149,772 $2.7M New
AME Ametek Inc. 0.34% 12,744 $2.6M Add +49.9%
AMP Ameriprise Financial Inc. 0.34% 5,290 $2.6M Add +68.0%
OTIS Otis Worldwide Corp. 0.32% 28,583 $2.5M Add +43.3%
ETN Eaton Corp. PLC 0.32% 7,780 $2.5M Reduce -44.1%
EMR Emerson Electric Co. 0.32% 18,632 $2.5M Add +47.9%
AVB Avalonbay Communities Inc. 0.32% 13,526 $2.5M Add +282.9%
CPB The Campbell's Company 0.32% 87,990 $2.5M New
WDC Western Digital Corp. 0.31% 13,855 $2.4M Reduce -87.6%
NVR NVR Inc. 0.31% 327 $2.4M Reduce -8.9%
NUE Nucor Corp. 0.31% 14,520 $2.4M Reduce -22.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.30% 42,616 $2.3M New
STAG Stag Industrial Inc. 0.30% 63,101 $2.3M New
TT Trane Technologies PLC 0.30% 5,954 $2.3M Add +0.9%
MMM 3M Co. 0.30% 14,358 $2.3M Reduce -10.7%
FG F&G Annuities & Life Inc. 0.29% 73,897 $2.3M No change
AEO American Eagle Outfitters 0.29% 86,338 $2.3M Add +70.1%
LEN Lennar Corp. Class A 0.29% 21,552 $2.2M Reduce -6.0%
FRT Federal Realty Invs Trust 0.28% 21,424 $2.2M New
TEX Terex Corp. 0.28% 40,000 $2.1M Add +33.3%
ETSY Etsy Inc. 0.27% 37,906 $2.1M Add +229.9%
CCK Crown Holdings Inc. 0.27% 20,000 $2.1M Reduce -42.3%
MAA Mid-America Apartment Comm 0.27% 14,775 $2.1M Add +688.8%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.26% 30,000 $2.0M Add +133.8%
CTVA Corteva Inc. 0.26% 29,579 $2.0M Add +136.0%
GLD SPDR Gold Shares 0.26% 5,000 $2.0M No change
FORM Formfactor Inc. 0.25% 35,319 $2.0M Reduce -71.0%
RRC Range Resources Corp. 0.25% 55,707 $2.0M Add +95.2%
ESS Essex Property Trust Inc. 0.25% 7,368 $1.9M New
TOL Toll Brothers Inc. 0.25% 14,100 $1.9M New
ABNB Airbnb Inc. Class A 0.24% 13,512 $1.8M Add +181.9%
Q Qnity Electronics Inc. 0.23% 22,266 $1.8M Add +34.1%
SCCO Southern Copper Corp. 0.23% 12,585 $1.8M Reduce -25.1%
MTSI Macom Technology Solutions H 0.23% 10,512 $1.8M Add +51.8%
TTWO Take-Two Interactive Softwre 0.23% 6,990 $1.8M Add +65.1%
JBL Jabil Inc. 0.23% 7,798 $1.8M Add +38.5%
TEL Te Connectivity PLC 0.23% 7,763 $1.8M New
PPL PPL Corp. 0.23% 50,000 $1.8M Reduce -81.5%
AA Alcoa Corp. 0.23% 32,905 $1.7M Reduce -60.2%
JCI Johnson Controls Internation 0.23% 14,533 $1.7M Reduce -46.7%
FLS Flowserve Corp. 0.22% 24,967 $1.7M Add +371.0%
KHC The Kraft Heinz Co. 0.22% 70,972 $1.7M Add +393.6%
ALK Alaska Air Group Inc. 0.21% 32,928 $1.7M Add +30.4%
PRIM Primoris Services Corp. 0.21% 13,264 $1.6M Add +120.2%
APH Amphenol Corp. Class A 0.21% 12,091 $1.6M Add +661.4%
PATH Uipath Inc. Class A 0.21% 98,934 $1.6M Add +69.8%
NJR New Jersey Resources Corp. 0.21% 35,000 $1.6M Add +223.3%

Show all 704 holdings

Options reported separately and not counted above: QQQ calls ($18.4M), VRT calls ($15.0M), CRWV puts ($13.9M), VRT puts ($12.6M), CRWV calls ($11.6M), GDX puts ($9.9M), IWM calls ($8.0M), GEV puts ($7.8M), FCX puts ($7.1M), ARKK calls ($6.2M), QQQ puts ($6.1M), GEV calls ($5.9M), and 26 more.

Portfolio Sells Q3 2025 → Q4 2025
FSLR First Solar Inc. Sold out 0.00% −1.69
TSLA Tesla Inc. Reduce -70.4% 0.68% −1.66
WDC Western Digital Corp. Reduce -87.6% 0.31% −1.47
XEL Xcel Energy Inc. Reduce -52.6% 0.86% −1.18
PPL PPL Corp. Reduce -81.5% 0.23% −1.11
CNP Centerpoint Energy Inc. Reduce -60.0% 0.64% −1.03
AEE Ameren Corporation Reduce -48.4% 0.93% −1.01
ETR Entergy Corp. Reduce -57.4% 0.69% −0.98
RAL Ralliant Corp. Sold out 0.00% −0.97
NI Nisource Inc. Reduce -54.1% 0.67% −0.89
NRG NRG Energy Inc. Reduce -94.5% 0.04% −0.76
META Meta Platforms Inc. Class A Reduce -94.3% 0.04% −0.74
CRCL Circle Internet Group Inc. Sold out 0.00% −0.70
EXC Exelon Corp. Sold out 0.00% −0.69
EVRG Evergy Inc. Sold out 0.00% −0.66
COIN Coinbase Global Inc. Class A Reduce -79.9% 0.10% −0.64
ED Consolidated Edison Inc. Sold out 0.00% −0.52
MP MP Materials Corp. Reduce -96.9% 0.01% −0.48
INTC Intel Corp. Sold out 0.00% −0.44
UUUU Energy Fuels Inc. Sold out 0.00% −0.41
HLT Hilton Worldwide Holdings Inc. Sold out 0.00% −0.39
ETN Eaton Corp. PLC Reduce -44.1% 0.32% −0.37
COF Capital One Financial Corp. Sold out 0.00% −0.35
TER Teradyne Inc. Reduce -57.0% 0.50% −0.35
FORM Formfactor Inc. Reduce -71.0% 0.25% −0.34
CB Chubb Ltd. Sold out 0.00% −0.32
IWM iShares Russell 2000 ETF Sold out 0.00% −0.32
POR Portland General Electric Co. Reduce -48.1% 0.37% −0.30
WCN Waste Connections Inc. Reduce -89.5% 0.03% −0.29
VRT Vertiv Holdings Co. Class A Reduce -31.1% 0.75% −0.29
WFC Wells Fargo & Co. Reduce -86.1% 0.05% −0.28
UDR Udr Inc. Reduce -85.5% 0.04% −0.28
C Citigroup Inc. Reduce -68.2% 0.14% −0.25
ARES Ares Management Corp. Class A Sold out 0.00% −0.23
BNY Bank of New York Mellon Corp. Reduce -68.1% 0.11% −0.23
MRSH Marsh & McLennan Cos Reduce -55.6% 0.15% −0.23
IR Ingersoll-Rand Inc. Sold out 0.00% −0.21
ENTG Entegris Inc. Sold out 0.00% −0.20
FTAI Ftai Aviation Ltd. Sold out 0.00% −0.20
USB US Bancorp Reduce -74.4% 0.08% −0.20
FCX Freeport-McMoran Inc. Reduce -45.8% 0.43% −0.20
MAS Masco Corp. Sold out 0.00% −0.19
EOG EOG Resources Inc. Sold out 0.00% −0.19
PRMB Primo Brands Corp. Sold out 0.00% −0.18
LITE Lumentum Holdings Inc. Reduce -57.8% 2.42% −0.18
CCK Crown Holdings Inc. Reduce -42.3% 0.27% −0.18
RHP Ryman Hospitality Properties Sold out 0.00% −0.17
JCI Johnson Controls Internation Reduce -46.7% 0.23% −0.17
ROK Rockwell Automation Inc. Reduce -36.8% 0.37% −0.17
AWK American Water Works Co. Inc. Sold out 0.00% −0.17

Portfolio Buys Q3 2025 → Q4 2025
MU Micron Technology Inc. Add +3229.9% 2.49% +2.44
AMD Advanced Micro Devices Add +983.9% 1.30% +1.21
LIN Linde PLC New 0.87% +0.87
NEE Nextera Energy Inc. New 0.70% +0.70
KEYS Keysight Technologies Inc. New 0.63% +0.63
AEP American Electric Power Add +536.5% 0.75% +0.63
PSA Public Storage New 0.51% +0.51
ITT Itt Inc. New 0.47% +0.47
MDLN Medline Inc. Class A New 0.46% +0.46
AMAT Applied Materials Inc. Add +527.3% 0.50% +0.43
GWW WW Grainger Inc. New 0.41% +0.41
GS Goldman Sachs Group Inc. New 0.39% +0.39
RSG Republic Services Inc. Add +673.0% 0.46% +0.39
GOOGL Alphabet Inc. Class A New 0.39% +0.39
ITB iShares U.S. Home Constructi New 0.35% +0.35
WEC WEC Energy Group Inc. New 0.35% +0.35
TFC Truist Financial Corp. Add +393.1% 0.43% +0.35
CDE Coeur Mining Inc. New 0.35% +0.35
CRDO Credo Technology Group Holdi Add +127.5% 0.59% +0.32
CPB The Campbell's Company New 0.32% +0.32
MCHP Microchip Technology Inc. Add +47.1% 1.02% +0.30
BAC Bank of America Corp. New 0.30% +0.30
STAG Stag Industrial Inc. New 0.30% +0.30
MPC Marathon Petroleum Corp. Add +444.8% 0.36% +0.28
FRT Federal Realty Invs Trust New 0.28% +0.28
ESS Essex Property Trust Inc. New 0.25% +0.25
ECL Ecolab Inc. Add +117.8% 0.48% +0.25
TOL Toll Brothers Inc. New 0.25% +0.25
MAA Mid-America Apartment Comm Add +688.8% 0.27% +0.23
TEL Te Connectivity PLC New 0.23% +0.23
AVB Avalonbay Communities Inc. Add +282.9% 0.32% +0.23
RIG Transocean Ltd. Add +18.9% 0.65% +0.23
CBRE CBRE Group Inc. Class A Add +127.9% 0.40% +0.22
URI United Rentals Inc. Add +215.4% 0.36% +0.22
CWST Casella Waste Systems Inc. Class A New 0.20% +0.20
SOLS Solstice Adv Materials Inc. Add +4451.3% 0.20% +0.20
NDAQ Nasdaq Inc. New 0.20% +0.20
LULU Lululemon Athletica Inc. New 0.19% +0.19
USAR USA Rare Earth Inc. New 0.19% +0.19
LGN Legence Corp. Class A New 0.19% +0.19
FLS Flowserve Corp. Add +371.0% 0.22% +0.19
APH Amphenol Corp. Class A Add +661.4% 0.21% +0.19
PPG PPG Industries Inc. Add +76.7% 0.45% +0.18
AEO American Eagle Outfitters Add +70.1% 0.29% +0.18
SEE Sealed Air Corp. New 0.18% +0.18
AJG Arthur J Gallagher & Co. New 0.18% +0.18
QBTS D-Wave Quantum Inc. New 0.18% +0.18
TMDX Transmedics Group Inc. New 0.18% +0.18
FBIN Fortune Brands Innovations I New 0.18% +0.18
KHC The Kraft Heinz Co. Add +393.6% 0.22% +0.17

Options Activity Q3 2025 → Q4 2025
QQQ Invesco QQQ Trust Series 1 call New 30,000 $18.4M
VRT Vertiv Holdings Co. Class A call Add +105.6% 92,500 $15.0M
CRWV Coreweave Inc. Class A put Add +73.9% 194,100 $13.9M
VRT Vertiv Holdings Co. Class A put Reduce -22.5% 77,500 $12.6M
CRWV Coreweave Inc. Class A call New 162,500 $11.6M
ETR Entergy Corp. call Sold out 120,600 $11.2Mbefore exit
IWM iShares Russell 2000 ETF put Sold out 45,000 $10.9Mbefore exit
COIN Coinbase Global Inc. Class A call Sold out 30,000 $10.1Mbefore exit
GDX Vaneck Gold Miners ETF put Add +283.3% 115,000 $9.9M
NI Nisource Inc. call Sold out 200,000 $8.7Mbefore exit
IWM iShares Russell 2000 ETF call Add +62.5% 32,500 $8.0M
GEV GE Vernova Inc. put Add +100.0% 12,000 $7.8M
FCX Freeport-McMoran Inc. put Reduce -44.0% 140,000 $7.1M
ARKK ARK Innovation ETF call Add +433.3% 80,000 $6.2M
QQQ Invesco QQQ Trust Series 1 put New 10,000 $6.1M
GEV GE Vernova Inc. call Add +12.5% 9,000 $5.9M
IEF iShares 7-10 Year Treasury B put Sold out 60,000 $5.8Mbefore exit
IEF iShares 7-10 Year Treasury B call Sold out 60,000 $5.8Mbefore exit
ALB Albemarle Corp. call Sold out 70,000 $5.7Mbefore exit
CEG Constellation Energy put Sold out 15,000 $4.9Mbefore exit
ETN Eaton Corp. PLC put Sold out 13,000 $4.9Mbefore exit
AA Alcoa Corp. put Add +13.3% 85,000 $4.5M
GDX Vaneck Gold Miners ETF call New 52,500 $4.5M
XLE SS Energy Select Sector call Sold out 100,000 $4.5Mbefore exit
AA Alcoa Corp. call New 75,000 $4.0M
CMI Cummins Inc. put New 7,500 $3.8M
MP MP Materials Corp. put Sold out 48,000 $3.2Mbefore exit
VST Vistra Corp. put Sold out 15,000 $2.9Mbefore exit
SCCO Southern Copper Corp. put New 20,000 $2.9M
XME SS SPDR S&P Metals Mining call Sold out 30,000 $2.8Mbefore exit
SMH Vaneck Semiconductor ETF put Add +50.0% 7,500 $2.7M
TLT iShares 20+ Year Treasury BD put Sold out 30,000 $2.7Mbefore exit
TLT iShares 20+ Year Treasury BD call Sold out 30,000 $2.7Mbefore exit
EMR Emerson Electric Co. put Sold out 20,000 $2.6Mbefore exit
FCX Freeport-McMoran Inc. call New 50,000 $2.5M
MTZ Mastec Inc. put Sold out 11,000 $2.3Mbefore exit
SMH Vaneck Semiconductor ETF call New 6,500 $2.3M
LYB Lyondellbasell Indu Class A call New 50,000 $2.2M
BA The Boeing Co. put Sold out 10,000 $2.2Mbefore exit
ALB Albemarle Corp. put New 15,000 $2.1M
PWR Quanta Services Inc. put Reduce -44.4% 5,000 $2.1M
XLE SS Energy Select Sector put Sold out 40,000 $1.8Mbefore exit
CAT Caterpillar Inc. call New 3,000 $1.7M
LEN Lennar Corp. Class A put New 15,000 $1.5M
TEX Terex Corp. put Sold out 30,000 $1.5Mbefore exit
NVT Nvent Electric PLC call New 15,000 $1.5M
PWR Quanta Services Inc. call Sold out 3,500 $1.5Mbefore exit
STLD Steel Dynamics Inc. put Reduce -53.3% 7,000 $1.2M
WHR Whirlpool Corp. put Sold out 15,000 $1.2Mbefore exit
DOW Dow Inc. call Reduce -72.2% 50,000 $1.2M

Showing the first 50 of 64.

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 602$675.0MGOOGL, GLD, LITE, ETR, SMTC
Q1 2026 733$675.1MNVDA, LITE, AVGO, GLW, ASML
Q4 2025 704$773.6MMU, NVDA, LITE, AMD, MCHP
Q3 2025 702$753.1MLITE, NVDA, TSLA, XEL, AEE
Q2 2025 542$610.6MNVDA, LITE, FSLR, VRT, UBER
Q1 2025 469$330.9MNVDA, ETR, XEL, NI, LITE
Q4 2024 331$312.0MNI, NVDA, DTE, MRVL, ETR