CIK: 0001837309
Total reported value
$28.2B
Reporting period: 2026-03-31 · Number of holdings: 242
Polar Capital Holdings Plc disclosed 242 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $28.2B and a quarterly turnover rate of 34.9%.
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Polar Capital Holdings Plc's disclosed holdings carry a Herfindahl concentration index of 0.030 — mathematically equivalent to about 34 equally-sized positions, well below its 242 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.47), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 57% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add GOOGL
+63.0% $863.1M
Trim MSFT
+21.1% -$125.0M
Add INTC
+195.0% $255.7M
Add VRT
+86.2% $252.0M
Add GLW
+45.8% $253.1M
Add SNDK
-30.8% $256.2M
GOOGL now commands 9.25% of the portfolio, up 2.5 points, signaling Polar Capital is doubling down on the search-to-cloud AI revenue pipeline. The simultaneous additions in NVDA, VRT, and new buys in FORM/MTSI reveal a capital rotation from pure semiconductor plays into the broader AI infrastructure compute stack — this is a momentum-scaled bet that the AI capex cycle's second derivative remains positive.
With 61.5% in IT, 22.9% in Communication Services, and a momentum tilt of +0.45, Polar Capital is pricing in a regime where AI-driven productivity gains allow tech earnings to decouple from macro tightening. The opposing thesis: if the Fed is forced to hold rates higher on sticky services inflation, the 84% tech/comm exposure becomes a beta trap, with factor rotation crushing momentum portfolios that lack diversification.
In a market that sees a sharp rotation out of growth, Polar Capital's extreme momentum tilt (100/100) and sector conviction (100/100) leave it exposed to a coordinated unwind: as the largest holdings — GOOGL at 9.25% and NVDA at 7.31% — face selling pressure, the dispersion in the portfolio from the inflated weights of former momentum darlings like SNDK and INTC would amplify drawdowns beyond what a 239-name count can buffer.
The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.
Showing top 200 holdings (of 242 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 9.25% | +2.51% | +63.03% | |
| 2 | AAPL | Apple INC | Stock-Tech | 7.34% | -0.17% | +13.89% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 7.31% | +0.32% | +21.79% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 5.61% | -0.97% | +21.07% | |
| 5 | AVGO | Broadcom INC | Stock-Tech | 3.16% | -0.47% | +5.76% | |
| 6 | AMD | Advanced Micro Devices | Stock-Tech | 2.46% | +0.18% | +23.42% | |
| 7 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.13% | — | +19.61% | |
| 8 | SNDK | Sandisk CORP | Stock-Tech | 1.98% | +0.82% | -30.85% | |
| 9 | LITE | Lumentum Holdings INC | Stock-Tech | 1.80% | +0.33% | -30.10% | |
| 10 | COHR | Coherent CORP | Stock-Tech | 1.67% | +0.45% | +15.96% | |
| 11 | GLW | Corning INC | Stock-Tech | 1.61% | +0.84% | +45.84% | |
| 12 | LRCX | Lam Research CORP | Stock-Tech | 1.45% | -0.45% | -33.42% | |
| 13 | KLAC | Kla CORP | Stock-Tech | 1.42% | — | -20.71% | |
| 14 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 1.37% | +0.85% | +86.15% | |
| 15 | STX | Seagate Technology Holdings plc | Stock-Tech | 1.30% | — | -24.04% | |
| 16 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.30% | -0.53% | -15.69% | |
| 17 | INTC | Intel CORP | Stock-Tech | 1.27% | +0.88% | +194.98% | |
| 18 | MU | Micron Technology INC | Stock-Tech | 1.23% | — | -6.53% | |
| 19 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.20% | — | +18.61% | |
| 20 | RNR | RenaissanceRe Holdings Ltd. | Stock-Financials | 1.18% | — | -12.50% | |
| 21 | ACGL | Arch Capital Group Ltd. | Stock-Financials | 1.12% | — | -0.90% | |
| 22 | CIEN | Ciena CORP | Stock-Tech | 1.10% | — | -38.08% | |
| 23 | CLS | Celestica INC | Stock-Tech | 1.07% | — | +5.34% | |
| 24 | TTMI | Ttm Technologies | Stock-Tech | 1.01% | +0.32% | +12.58% | |
| 25 | ANET | Arista Networks INC | Stock-Tech | 0.97% | +0.34% | +79.24% | |
| 26 | WDC | Western Digital CORP | Stock-Tech | 0.93% | +0.32% | +6.49% | |
| 27 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.92% | — | +5.02% | |
| 28 | XENE | Xenon Pharmaceuticals INC | Stock-Other | 0.91% | +0.48% | +78.66% | |
| 29 | GEV | GE Vernova INC | Stock-Industrials | 0.89% | +0.26% | +16.11% | |
| 30 | CB | Chubb Limited | Stock-Financials | 0.86% | — | +4.02% | |
| 31 | NET | Cloudflare INC - Class A | Stock-Tech | 0.85% | +0.14% | +25.12% | |
| 32 | FLEX | Flex Ltd. | Stock-Tech | 0.84% | — | -2.24% | |
| 33 | FORM | Formfactor INC | Stock-Tech | 0.79% | +0.79% | NEW | |
| 34 | MRSH | Marsh & Mclennan Cos | Stock-Financials | 0.75% | — | +26.42% | |
| 35 | MTSI | Macom Technology Solutions H | Stock-Tech | 0.73% | +0.73% | NEW | |
| 36 | ELVN | Enliven Therapeutics INC | Stock-Other | 0.71% | +0.50% | +44.18% | |
| 37 | FN | Fabrinet | Stock-Tech | 0.68% | -0.29% | -33.70% | |
| 38 | NUVL | Nuvalent Inc-a | Stock-Other | 0.67% | — | +19.16% | |
| 39 | BBIO | Bridgebio Pharma INC | Stock-Healthcare | 0.66% | +0.28% | +93.89% | |
| 40 | SHOP | Shopify INC - Class A | Stock-Tech | 0.61% | -0.43% | -14.15% | |
| 41 | TEVA | Teva Pharmaceutical-sp Adr | Stock-Healthcare | 0.55% | — | +3.76% | |
| 42 | MKL | Markel Group INC | Stock-Financials | 0.54% | — | +3.90% | |
| 43 | MDGL | Madrigal Pharmaceuticals INC | Stock-Healthcare | 0.54% | — | +7.09% | |
| 44 | WRB | Wr Berkley CORP | Stock-Financials | 0.54% | — | -6.95% | |
| 45 | ASND | Ascendis Pharma A/S | Stock-Other | 0.53% | +0.22% | +75.91% | |
| 46 | ESNT | Essent Group Ltd. | Stock-Financials | 0.53% | — | +4.08% | |
| 47 | AKAM | Akamai Technologies INC | Stock-Tech | 0.53% | +0.53% | NEW | |
| 48 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 0.53% | — | -6.04% | |
| 49 | RYTM | Rhythm Pharmaceuticals INC | Stock-Other | 0.50% | — | +36.29% | |
| 50 | TRV | Travelers Cos Inc/the | Stock-Financials | 0.49% | — | -2.55% |
Performance for Q3 2026
+5.8%
Performance Last 4 Quarters
+57.5%
Based on 80% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 242 | $28.2B | 35 | |
| 2025-12-31 | 264 | $25.9B | 54 | |
| 2025-09-30 | 254 | $20.8B | 63 | |
| 2025-06-30 | 270 | $19.1B | 0 | |
| 2025-03-31 | 286 | $16.4B | 100 | |
| 2024-12-31 | 296 | $17.9B | 0 | |
| 2024-09-30 | 289 | $21.0B | 0 | |
| 2024-06-30 | 272 | $17.0B | 0 | |
| 2024-03-31 | 278 | $19.1B | 0 | |
| 2023-12-31 | 276 | $16.3B | 0 | |
| 2023-09-30 | 279 | $13.5B | 0 | |
| 2023-06-30 | 286 | $19.8B | — | |
| 2023-03-31 | 295 | $15.4B | — | |
| 2022-12-31 | 309 | $12.5B | 0 | |
| 2022-09-30 | 416 | $15.7B | 0 | |
| 2022-06-30 | 433 | $17.0B | 0 | |
| 2022-03-31 | 458 | $22.2B | 0 | |
| 2021-12-31 | 445 | $26.7B | 0 | |
| 2021-09-30 | 356 | $24.5B | 0 | |
| 2021-06-30 | 351 | $23.0B | 82 | |
| 2021-03-31 | 336 | $16.2B | 48 | |
| 2020-12-31 | 321 | $16.5B | 0 |
Polar Capital Holdings Plc's most significant position changes for 2026-03-31: New buy: Formfactor INC (FORM); New buy: Macom Technology Solutions H (MTSI); Sold out: Applovin Corp-class A (APP); Sold out: Credo Technology Group Holding Ltd (CRDO); New buy: Akamai Technologies INC (AKAM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +2.5% | +63.03% | Add |
| 2 | INTC | Intel CORP | +0.9% | +194.98% | Add |
| 3 | VRT | Vertiv Holdings Co-a | +0.9% | +86.15% | Add |
| 4 | GLW | Corning INC | +0.8% | +45.84% | Add |
| 5 | SNDK | Sandisk CORP | +0.8% | -30.85% | Trim |
| 6 | ELVN | Enliven Therapeutics INC | +0.5% | +44.18% | Add |
| 7 | XENE | Xenon Pharmaceuticals INC | +0.5% | +78.66% | Add |
| 8 | COHR | Coherent CORP | +0.5% | +15.96% | Add |
| 9 | PLTR | Palantir Technologies Inc-a | +0.4% | +495.94% | Add |
| 10 | ANET | Arista Networks INC | +0.3% | +79.24% | Add |
| 11 | LITE | Lumentum Holdings INC | +0.3% | -30.10% | Trim |
| 12 | NVDA | Nvidia CORP | +0.3% | +21.79% | Add |
| 13 | WDC | Western Digital CORP | +0.3% | +6.49% | Add |
| 14 | TTMI | Ttm Technologies | +0.3% | +12.58% | Add |
| 15 | BBIO | Bridgebio Pharma INC | +0.3% | +93.89% | Add |
| 16 | GEV | GE Vernova INC | +0.3% | +16.11% | Add |
| 17 | ASND | Ascendis Pharma A/S | +0.2% | +75.91% | Add |
| 18 | FUTU | Futu Holdings Ltd-adr | +0.2% | +1274.99% | Add |
| 19 | AMD | Advanced Micro Devices | +0.2% | +23.42% | Add |
| 20 | DNTH | Dianthus Therapeutics INC | +0.2% | +7.09% | Add |
| 21 | NET | Cloudflare INC - Class A | +0.1% | +25.12% | Add |
| 22 | AAPL | Apple INC | -0.2% | +13.89% | Add |
| 23 | RVMD | Revolution Medicines INC | -0.2% | -43.69% | Trim |
| 24 | BABA | Alibaba Group Holding-sp Adr | -0.3% | -70.19% | Trim |
| 25 | FN | Fabrinet | -0.3% | -33.70% | Trim |
| 26 | TSLA | Tesla INC | -0.3% | -30.05% | Trim |
| 27 | CSCO | Cisco Systems INC | -0.4% | -83.34% | Trim |
| 28 | MDB | Mongodb INC | -0.4% | -23.29% | Trim |
| 29 | RDDT | Reddit Inc-cl A | -0.4% | -79.30% | Trim |
| 30 | SHOP | Shopify INC - Class A | -0.4% | -14.15% | Trim |
| 31 | LRCX | Lam Research CORP | -0.5% | -33.42% | Trim |
| 32 | AVGO | Broadcom INC | -0.5% | +5.76% | Add |
| 33 | GOOG | Alphabet Inc-cl C | -0.5% | -15.69% | Trim |
| 34 | FSLR | First Solar INC | -0.7% | -85.07% | Trim |
| 35 | MSFT | Microsoft CORP | -1% | +21.07% | Add |
| 36 | FORM | Formfactor INC | — | NEW | New buy |
| 37 | MTSI | Macom Technology Solutions H | — | NEW | New buy |
| 38 | APP | Applovin Corp-class A | — | EXIT | Sold out |
| 39 | CRDO | Credo Technology Group Holding Ltd | — | EXIT | Sold out |
| 40 | AKAM | Akamai Technologies INC | — | NEW | New buy |
| 41 | IBM | Intl Business Machines CORP | — | EXIT | Sold out |
| 42 | SPOT | Spotify Technology S.A. | — | NEW | New buy |
| 43 | ALAB | Astera Labs INC | — | EXIT | Sold out |
| 44 | APLSUSD | Apellis Pharmaceuticals INC | — | EXIT | Sold out |
| 45 | CRWD | Crowdstrike Holdings INC - A | — | EXIT | Sold out |
| 46 | GRAB | Grab Holdings Limited | — | EXIT | Sold out |
| 47 | CVNA | Carvana Co | — | EXIT | Sold out |
| 48 | AXGN | Axogen INC | — | NEW | New buy |
| 49 | RDN | Radian Group INC | — | NEW | New buy |
| 50 | MBX | Mbx Biosciences INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-22 | Amendment | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-12-13 | Amendment | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-12-13 | Amendment | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
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