Polar Capital Holdings Plc

London, X0 · CIK 1837309 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2005 · limited liability partnership

Assets managed$43.3bn
Staff196 · 56 in investment roles
Main clients (by assets)Private funds 97%
Private funds4 (4 hedge) · $3.9bn gross assets
Websitepolarcapitalstrategies.com
Form ADV · 2026-06-25SEC adviser record

Legal entityPOLAR CAPITAL HOLDINGS PLC. (GB)

Other 13F filers in this group: Polar Capital (Switzerland) AG files a notice, Polar Capital LLP files a notice

$35.3bn reported value +54.1% vs Q1 2026

242positions

34.9%in top 10

51 new 87 added 81 reduced 48 sold out vs Q1 2026

Options: 3 call positions ($7.1bn notional), 0 put positions (— notional) – listed below, not included above.

This report includes the holdings of 3 other managers that share the investment decisions:

Polar Capital (Switzerland) AG – reports through this filing
Polar Capital LLP – reports through this filing
Polar Capital (America) Corp – no 13F of its own this quarter

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NVIDIA CORPORATION COM NVDA	NVDA	13,828,945	$2.8bn7.84%	7.84%	Added +2.0m	+2,023,356 17.1%
2	ADVANCED MICRO DEVICES INC COM AMD	AMD	2,843,290	$1.7bn4.68%	4.68%	Reduced -562.2k	-562,192 -16.5%
3	MICRON TECHNOLOGY INC COM MU	MU	1,220,456	$1.4bn3.99%	3.99%	Added +194.1k	+194,121 18.9%
4	SANDISK CORP COM SNDK	SNDK	492,817	$1.1bn3.18%	3.18%	Reduced -384.2k	-384,215 -43.8%
5	LAM RESEARCH CORP COM NEW LRCX	LRCX	2,358,946	$1.0bn2.90%	2.90%	Added +445.5k	+445,455 23.3%
6	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	984,377	$949.9m2.69%	2.69%	Added +50.5k	+50,518 5.4%
7	INTEL CORP COM INTC	INTC	6,711,403	$937.1m2.66%	2.66%	Reduced -1.4m	-1,374,615 -17.0%
8	KLA CORP COM NEW KLAC	KLAC	2,925,707	$882.7m2.50%	2.50%	Added +212.5k	+212,517 7.8%
9	BROADCOM INC COM AVGO	AVGO	2,131,702	$805.3m2.28%	2.28%	Reduced -741.6k	-741,560 -25.8%
10	CORNING INC COM GLW	GLW	3,059,046	$781.4m2.21%	2.21%	Reduced -274.7k	-274,731 -8.2%
11	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,918,015	$685.4m1.94%	1.94%	Added +485.3k	+485,325 33.9%
12	COHERENT CORP COM COHR	COHR	1,565,267	$617.5m1.75%	1.75%	Reduced -412.9k	-412,915 -20.9%
13	ALPHABET INC CAP STK CL C GOOG	GOOG	1,729,332	$611.0m1.73%	1.73%	Added +456.4k	+456,436 35.9%
14	PALO ALTO NETWORKS INC COM PANW	PANW	1,672,688	$570.4m1.62%	1.62%	New
15	META PLATFORMS INC CL A META	META	939,176	$529.0m1.50%	1.50%	Reduced -109.8k	-109,841 -10.5%
16	WESTERN DIGITAL CORP COM WDC	WDC	793,276	$506.7m1.44%	1.44%	Reduced -179.2k	-179,156 -18.4%
17	APPLE INC COM AAPL	AAPL	1,556,928	$450.5m1.28%	1.28%	Added +261.1k	+261,101 20.1%
18	ARISTA NETWORKS INC COM SHS ANET	ANET	2,531,117	$430.0m1.22%	1.22%	Added +300.1k	+300,148 13.4%
19	CELESTICA INC COM CLS	CLS	1,146,659	$418.3m1.19%	1.19%	Added +81.7k	+81,654 7.7%
20	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	538,439	$410.9m1.16%	1.16%	New
21	FLEX LTD ORD FLEX	FLEX	2,494,066	$404.2m1.15%	1.15%	Reduced -1.1m	-1,116,495 -30.9%
22	TTM TECHNOLOGIES INC COM TTMI	TTMI	1,965,915	$367.7m1.04%	1.04%	Reduced -958.4k	-958,370 -32.8%
23	GE VERNOVA INC COM GEV	GEV	304,432	$357.7m1.01%	1.01%	Added +16.4k	+16,442 5.7%
24	FORMFACTOR INC COM FORM	FORM	2,146,098	$343.2m0.97%	0.97%	Reduced -146.2k	-146,215 -6.4%
25	SNOWFLAKE INC CL A SNOW	SNOW	1,332,991	$339.2m0.96%	0.96%	Added +787.2k	+787,176 144.2%
26	LUMENTUM HLDGS INC COM LITE	LITE	390,287	$334.9m0.95%	0.95%	Reduced -329.2k	-329,199 -45.8%
27	AMAZON COM INC COM AMZN	AMZN	1,393,535	$332.1m0.94%	0.94%	Reduced -230.0k	-230,013 -14.2%
28	ENLIVEN THERAPEUTICS INC COM ELVN	ELVN	6,430,636	$326.4m0.92%	0.92%	Added +1.4m	+1,364,703 26.9%
29	VERTIV HOLDINGS CO COM CL A VRT	VRT	970,621	$325.0m0.92%	0.92%	Reduced -570.3k	-570,338 -37.0%
30	MICROSOFT CORP COM MSFT	MSFT	863,720	$322.2m0.91%	0.91%	Added +204.6k	+204,558 31.0%
31	MARVELL TECHNOLOGY INC COM MRVL	MRVL	1,066,260	$317.6m0.90%	0.90%	Added +650.5k	+650,460 156.4%
32	SILICON MOTION TECHNOLOGY CO SPONSORED ADR SIMO	SIMO	931,375	$310.5m0.88%	0.88%	New
33	CLOUDFLARE INC CL A COM NET	NET	1,240,516	$304.3m0.86%	0.86%	Added +76.4k	+76,432 6.6%
34	ELI LILLY & CO COM LLY	LLY	251,997	$302.3m0.86%	0.86%	Reduced -29.1k	-29,105 -10.3%
35	RENAISSANCERE HLDGS LTD COM RNR	RNR	943,566	$299.0m0.85%	0.85%	Reduced -176.3k	-176,323 -15.7%
36	ARCH CAP GROUP LTD ORD ACGL	ACGL	2,980,000	$289.2m0.82%	0.82%	Reduced -320.0k	-320,000 -9.7%
37	MACOM TECH SOLUTIONS HLDGS I COM MTSI	MTSI	750,517	$285.5m0.81%	0.81%	Reduced -180.3k	-180,261 -19.4%
38	XENON PHARMACEUTICALS INC COM XENE	XENE	4,570,556	$275.9m0.78%	0.78%	Added +165.2k	+165,244 3.8%
39	TOWER SEMICONDUCTOR LTD SHS NEW TSEM	TSEM	1,015,166	$264.6m0.75%	0.75%	Added +869.7k	+869,653 597.6%
40	BLOOM ENERGY CORP COM CL A BE	BE	861,299	$260.7m0.74%	0.74%	Added +96.4k	+96,436 12.6%
41	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	2,597,658	$260.5m0.74%	0.74%	Added +1.2m	+1,225,995 89.4%
42	TWILIO INC CL A TWLO	TWLO	1,204,982	$248.6m0.70%	0.70%	Added +1.0m	+1,019,749 550.5%
43	ASTRAZENECA PLC ORD AZN	AZN	1,247,549	$236.6m0.67%	0.67%	New
44	MONGODB INC CL A MDB	MDB	689,071	$231.5m0.66%	0.66%	Added +358.3k	+358,280 108.3%
45	FABRINET SHS FN	FN	406,470	$228.5m0.65%	0.65%	Added +40.6k	+40,568 11.1%
46	CHUBB LIMITED COM CB	CB	670,383	$228.4m0.65%	0.65%	Reduced -73.4k	-73,365 -9.9%
47	MARSH & MCLENNAN COS INC COM MRSH	MRSH	1,300,000	$216.7m0.61%	0.61%	Added +80.0k	+80,000 6.6%
48	JOHNSON & JOHNSON COM JNJ	JNJ	783,595	$199.0m0.56%	0.56%	New
49	CYTOKINETICS INC COM NEW CYTK	CYTK	2,253,649	$192.0m0.54%	0.54%	Added +592.4k	+592,401 35.7%
50	AKAMAI TECHNOLOGIES INC COM AKAM	AKAM	1,575,971	$186.3m0.53%	0.53%	Added +279.3k	+279,306 21.5%
51	RHYTHM PHARMACEUTICALS INC COM RYTM	RYTM	1,663,632	$184.7m0.52%	0.52%	Added +48.0k	+48,046 3.0%
52	CATERPILLAR INC COM CAT	CAT	167,175	$178.0m0.50%	0.50%	Added +21.8k	+21,819 15.0%
53	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		5,212,749	$176.6m0.50%	0.50%	Added +37.7k	+37,691 0.7%
54	ARCUTIS BIOTHERAPEUTICS INC COM ARQT	ARQT	6,606,945	$173.2m0.49%	0.49%	Added +940.0k	+940,005 16.6%
55	AMPHENOL CORP CL A APH	APH	977,331	$172.3m0.49%	0.49%	Added +351.4k	+351,361 56.1%
56	SERVICENOW INC COM NOW	NOW	1,694,573	$168.2m0.48%	0.48%	New
57	ASCENDIS PHARMA A/S ORD SHS ASND	ASND	616,908	$164.5m0.47%	0.47%	New
58	ONTO INNOVATION INC COM ONTO	ONTO	406,645	$153.9m0.44%	0.44%	New
59	BRIDGEBIO PHARMA INC COM BBIO	BBIO	2,063,609	$153.7m0.44%	0.44%	Reduced -455.7k	-455,697 -18.1%
60	ESSENT GROUP LTD COM ESNT	ESNT	2,379,000	$152.9m0.43%	0.43%	Reduced -171.0k	-171,000 -6.7%
61	MARKEL GROUP INC COM MKL	MKL	78,250	$152.8m0.43%	0.43%	Reduced -1.8k	-1,750 -2.2%
62	BERKLEY W R CORP COM WRB	WRB	2,130,000	$150.2m0.43%	0.43%	Reduced -145.0k	-145,000 -6.4%
63	ALNYLAM PHARMACEUTICALS INC COM ALNY	ALNY	482,751	$145.3m0.41%	0.41%	Added +225.1k	+225,077 87.3%
64	TRAVELERS COMPANIES INC COM TRV	TRV	420,000	$138.7m0.39%	0.39%	Reduced -57.5k	-57,500 -12.0%
65	AMGEN INC COM AMGN	AMGN	369,086	$133.7m0.38%	0.38%	New
66	MADRIGAL PHARMACEUTICALS INC COM MDGL	MDGL	244,274	$131.2m0.37%	0.37%	Reduced -45.0k	-45,036 -15.6%
67	REVOLUTION MEDICINES INC COM RVMD	RVMD	690,316	$129.3m0.37%	0.37%	Reduced -443.6k	-443,614 -39.1%
68	COGENT BIOSCIENCES INC COM COGT	COGT	3,232,905	$125.1m0.35%	0.35%	New
69	BANK NEW YORK MELLON CORP COM BNY	BNY	827,041	$119.6m0.34%	0.34%	Added +341.9k	+341,887 70.5%
70	EVEREST GROUP LTD COM EG	EG	329,500	$117.7m0.33%	0.33%	Reduced -74.0k	-74,000 -18.3%
71	ORUKA THERAPEUTICS INC COM ORKA	ORKA	1,228,609	$116.9m0.33%	0.33%	Added +180.9k	+180,916 17.3%
72	MKS INC. COM MKSI	MKSI	260,442	$115.8m0.33%	0.33%	Added +188.2k	+188,231 260.7%
73	IONIS PHARMACEUTICALS INC COM IONS	IONS	1,454,021	$115.3m0.33%	0.33%	Added +624.5k	+624,510 75.3%
74	RYAN SPECIALTY HOLDINGS INC CL A RYAN	RYAN	2,940,000	$111.0m0.31%	0.31%	Added +490.0k	+490,000 20.0%
75	BROWN & BROWN INC COM BRO	BRO	1,725,000	$110.7m0.31%	0.31%	Added +285.0k	+285,000 19.8%
76	DELTA AIR LINES INC DEL COM NEW DAL	DAL	1,140,685	$106.8m0.30%	0.30%	Added +378.5k	+378,507 49.7%
77	COMFORT SYS USA INC COM FIX	FIX	53,295	$105.6m0.30%	0.30%	Added +6.8k	+6,790 14.6%
78	REINSURANCE GRP OF AMERICA I COM NEW RGA	RGA	495,025	$105.3m0.30%	0.30%	Reduced -51.8k	-51,804 -9.5%
79	SCHOLAR ROCK HLDG CORP COM SRRK	SRRK	1,878,580	$103.3m0.29%	0.29%	Reduced -105.0k	-105,048 -5.3%
80	NU HLDGS LTD ORD SHS CL A NU	NU	7,703,636	$102.9m0.29%	0.29%	Reduced -562.5k	-562,541 -6.8%
81	EDWARDS LIFESCIENCES CORP COM EW	EW	1,104,860	$99.9m0.28%	0.28%	New
82	DIANTHUS THERAPEUTICS INC COM DNTH	DNTH	1,018,726	$99.3m0.28%	0.28%	Reduced -57.3k	-57,283 -5.3%
83	MIRUM PHARMACEUTICALS INC COM MIRM	MIRM	845,524	$99.0m0.28%	0.28%	Added +562.0k	+562,040 198.3%
84	INSMED INC COM PAR $.01 INSM	INSM	890,872	$95.0m0.27%	0.27%	Added +522.8k	+522,765 142.0%
85	PROGRESSIVE CORP COM PGR	PGR	428,000	$93.5m0.26%	0.26%	Reduced -25.0k	-25,000 -5.5%
86	PRAXIS PRECISION MEDICINES I COM NEW PRAX	PRAX	279,131	$93.5m0.26%	0.26%	New
87	QNITY ELECTRONICS INC COMMON STOCK Q	Q	549,020	$89.7m0.25%	0.25%	New
88	MBX BIOSCIENCES INC COM MBX	MBX	1,608,514	$88.8m0.25%	0.25%	Reduced -13.7k	-13,672 -0.8%
89	SPYRE THERAPEUTICS INC COM NEW SYRE	SYRE	988,009	$87.7m0.25%	0.25%	Added +195.2k	+195,162 24.6%
90	KNIGHT-SWIFT TRANSN HLDGS IN CL A KNX	KNX	1,116,946	$87.0m0.25%	0.25%	New
91	CRINETICS PHARMACEUTICALS IN COM CRNX	CRNX	2,274,411	$85.1m0.24%	0.24%	New
92	WALMART INC COM WMT	WMT	748,191	$84.7m0.24%	0.24%	Added +144.4k	+144,439 23.9%
93	SEA LTD SPONSORD ADS SE	SE	874,172	$83.8m0.24%	0.24%	Added +82.0k	+82,000 10.3%
94	US FOODS HLDG CORP COM USFD	USFD	806,376	$82.5m0.23%	0.23%	Added +154.2k	+154,196 23.6%
95	PHARVARIS N V COM PHVS	PHVS	2,326,389	$80.4m0.23%	0.23%	Added +1.5m	+1,545,373 197.9%
96	ANALOG DEVICES INC COM ADI	ADI	189,577	$75.3m0.21%	0.21%	Added +58.8k	+58,769 44.9%
97	CISCO SYS INC COM CSCO	CSCO	617,762	$72.6m0.21%	0.21%	Added +342.1k	+342,104 124.1%
98	SOLVENTUM CORP COM SHS SOLV	SOLV	935,761	$72.2m0.20%	0.20%	New
99	HAGERTY INC CL A COM HGTY	HGTY	6,000,000	$71.5m0.20%	0.20%	Unchanged
100	AXOGEN INC COM AXGN	AXGN	1,500,822	$69.3m0.20%	0.20%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
CIENA CORP CIEN	CIEN	798,395	$310.0m798.4k shares
NUVALENT INC		1,831,253	$187.6m1.8m shares
SHOPIFY INC SHOP	SHOP	1,441,167	$171.0m1.4m shares
ASCENDIS PHARMA A/S		651,712	$149.1m651.7k shares
REGENERON PHARMACEUTICALS REGN	REGN	192,546	$148.8m192.5k shares
PALANTIR TECHNOLOGIES INC PLTR	PLTR	867,215	$126.9m867.2k shares
SPOTIFY TECHNOLOGY S A SPOT	SPOT	245,436	$119.0m245.4k shares
PURE STORAGE INC P	P	1,131,674	$66.8m1.1m shares
FUTU HLDGS LTD FUTU	FUTU	462,067	$63.2m462.1k shares
SOLENO THERAPEUTICS INC SLNO	SLNO	1,698,855	$56.9m1.7m shares
APOGEE THERAPEUTICS INC		539,177	$45.4m539.2k shares
ECOLAB INC ECL	ECL	120,875	$32.2m120.9k shares
OLEMA PHARMACEUTICALS INC OLMA	OLMA	1,602,970	$23.9m1.6m shares
AST SPACEMOBILE INC ASTS	ASTS	276,476	$22.9m276.5k shares
VIAVI SOLUTIONS INC VIAV	VIAV	681,255	$22.7m681.3k shares
FIRST SOLAR INC FSLR	FSLR	114,400	$22.6m114.4k shares
ALIBABA GROUP HLDG LTD BABA	BABA	176,161	$22.1m176.2k shares
ROCKET LAB CORP RKLB	RKLB	299,017	$19.2m299.0k shares
IMMUNOME INC IMNM	IMNM	849,479	$18.6m849.5k shares
CORVUS PHARMACEUTICALS INC CRVS	CRVS	1,070,174	$15.7m1.1m shares
REDDIT INC RDDT	RDDT	112,330	$15.1m112.3k shares
ZOOM COMMUNICATIONS INC ZM	ZM	179,303	$14.4m179.3k shares
AMERICAN EXPRESS CO AXP	AXP	45,415	$13.7m45.4k shares
NORTHERN OIL & GAS INC NOG 3.625 04.15.29	NOG 3.625 04.15.29	8,500,000	$9.4m8.5m shares
SYSCO CORP SYY	SYY	129,122	$9.2m129.1k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
APPLE INC AAPL · Call	AAPL	Call	9,623,500	$2.8bn9.6m shares	Added
MICROSOFT CORP MSFT · Call	MSFT	Call	6,140,000	$2.3bn6.1m shares	Added
ALPHABET INC GOOGL · Call	GOOGL	Call	5,560,000	$2.0bn5.6m shares	Reduced

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
NEUROPACE INC NPCE · 13G · filed 2025-05-15	NPCE	9.1%≈ $47.2m	new	13G	2025-05-15
ENLIVEN THERAPEUTICS INC ELVN · 13G · filed 2026-06-22	ELVN	8.5%≈ $256.6m	no change	13G	2026-06-22
HAGERTY INC HGTY · 13G · filed 2025-09-04	HGTY	5.8%≈ $63.3m	+5.8 pts	13G	2025-09-04
ARCUTIS BIOTHERAPEUTICS INC ARQT · 13G · filed 2026-08-14	ARQT	5.3%≈ $173.2m	+1.1 pts	13G	2026-08-14