Q4 2025 · 13F-HR
Polymer Capital Management (HK) LTDholdings as filed
Filed 2026-02-13 · accession 0001970465-26-000002
$703.0M
Reported value
127
Positions
2025-12-31
Period end
The Brief · Polymer Capital Management (HK) LTD · Q4 2025
AI · grounded in 13F
Polymer Capital Management (HK) LTD closed its position in UNH, reducing its exposure by $13.4M. The fund established new positions in AIQ for $17.2M and KBWB for $12.9M. It also significantly reduced share counts in AAPL by 92.8% and TSLA by 89.5%. Conversely, the fund accumulated shares in SMH by 9,882.4% and TSM by 197.8%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 92189F676 | SMH | VANECK ETF TRUST | $60.5M | 8.61% | 168,000 | PUT | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $49.2M | 7.00% | 45,810 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $44.8M | 6.38% | 240,480 | Common | SOLE |
| 722304102 | PDD | PDD HOLDINGS INC | $42.9M | 6.11% | 378,574 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $33.3M | 4.74% | 84,050 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $31.3M | 4.46% | 103,140 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $28.5M | 4.06% | 90,884 | Common | SOLE |
| 86627T108 | SMMT | SUMMIT THERAPEUTICS INC | $24.9M | 3.54% | 1,421,155 | Common | SOLE |
| 37954Y632 | AIQ | GLOBAL X FDS | $17.2M | 2.45% | 338,000 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $16.9M | 2.40% | 48,844 | Common | SOLE |
| 92763W103 | VIPS | VIPSHOP HLDGS LTD | $16.5M | 2.35% | 932,407 | Common | SOLE |
| 80004C200 | SNDK | SANDISK CORP | $15.7M | 2.23% | 66,055 | Common | SOLE |
| 02043Q107 | ALNY | ALNYLAM PHARMACEUTICALS INC | $14.6M | 2.08% | 36,765 | Common | SOLE |
| 46138E628 | KBWB | INVESCO EXCH TRADED FD TR II | $12.9M | 1.83% | 153,000 | Common | SOLE |
| 19247G107 | COHR | COHERENT CORP | $12.0M | 1.70% | 64,898 | Common | SOLE |
| 958102105 | WDC | WESTERN DIGITAL CORP | $10.5M | 1.49% | 60,883 | Common | SOLE |
| G0260P102 | AS | AMER SPORTS INC | $9.4M | 1.34% | 252,526 | Common | SOLE |
| 36118L106 | FUTU | FUTU HLDGS LTD | $9.4M | 1.34% | 57,226 | Common | SOLE |
| 37954Y830 | COPX | GLOBAL X FDS | $9.2M | 1.31% | 128,459 | Common | SOLE |
| 056752108 | BIDU | BAIDU INC | $9.0M | 1.28% | 68,800 | Common | SOLE |
| 090040106 | BILI | BILIBILI INC | $8.7M | 1.24% | 353,870 | Common | SOLE |
| 92189F106 | GDX | VANECK ETF TRUST | $8.5M | 1.21% | 99,479 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $7.8M | 1.10% | 11,763 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $7.4M | 1.05% | 10,829 | Common | SOLE |
| 876030107 | TPR | TAPESTRY INC | $7.3M | 1.05% | 57,519 | Common | SOLE |
| 78464A870 | XBI | SPDR SERIES TRUST | $5.9M | 0.84% | 48,200 | Common | SOLE |
| 78467X109 | DIA | SPDR DOW JONES INDL AVERAGE | $5.7M | 0.81% | 11,850 | Common | SOLE |
| H5919C104 | ONON | ON HLDG AG | $5.5M | 0.78% | 117,995 | Common | SOLE |
| 647581206 | EDU | NEW ORIENTAL ED & TECHNOLOGY | $5.5M | 0.78% | 99,500 | Common | SOLE |
| 375916103 | GIL | GILDAN ACTIVEWEAR INC | $5.2M | 0.75% | 83,856 | Common | SOLE |
| 53656G498 | MAGS | LISTED FDS TR | $5.2M | 0.74% | 78,931 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $5.2M | 0.74% | 24,147 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $5.1M | 0.72% | 8,295 | Common | SOLE |
| 44332N106 | HTHT | H WORLD GROUP LTD | $5.1M | 0.72% | 108,200 | Common | SOLE |
| G25457105 | CRDO | CREDO TECHNOLOGY GROUP HOLDI | $4.9M | 0.70% | 33,980 | Common | SOLE |
| 89677Q107 | TCOM | TRIP COM GROUP LTD | $4.7M | 0.67% | 65,500 | Common | SOLE |
| 751212101 | RL | RALPH LAUREN CORP | $4.3M | 0.62% | 12,233 | Common | SOLE |
| 55024U109 | LITE | LUMENTUM HLDGS INC | $4.1M | 0.59% | 11,231 | Common | SOLE |
| 98850P109 | YUMC | YUM CHINA HLDGS INC | $4.1M | 0.59% | 86,654 | Common | SOLE |
| 64110W102 | NTES | NETEASE INC | $4.1M | 0.59% | 30,007 | Common | SOLE |
| 009066101 | ABNB | AIRBNB INC | $3.8M | 0.54% | 28,023 | Common | SOLE |
| 464287200 | IVV | ISHARES TR | $3.7M | 0.53% | 5,400 | Common | SOLE |
| 81369Y605 | XLF | SELECT SECTOR SPDR TR | $3.7M | 0.53% | 67,471 | Common | SOLE |
| 464287523 | SOXX | ISHARES TR | $3.6M | 0.52% | 12,056 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $3.6M | 0.51% | 70,466 | Common | SOLE |
| 81369Y506 | XLE | SELECT SECTOR SPDR TR | $3.5M | 0.50% | 78,172 | Common | SOLE |
| 47215P106 | JD | JD.COM INC | $3.4M | 0.49% | 120,000 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $3.3M | 0.47% | 10,573 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $3.0M | 0.43% | 19,522 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR INC | $3.0M | 0.43% | 5,223 | Common | SOLE |
| 609839105 | MPWR | MONOLITHIC PWR SYS INC | $2.9M | 0.42% | 3,222 | Common | SOLE |
| 81369Y308 | XLP | SELECT SECTOR SPDR TR | $2.9M | 0.41% | 37,500 | Common | SOLE |
| 571903202 | MAR | MARRIOTT INTL INC NEW | $2.8M | 0.40% | 9,000 | Common | SOLE |
| 37954Y871 | URA | GLOBAL X FDS | $2.8M | 0.40% | 65,300 | Common | SOLE |
| V7780T103 | RCL | ROYAL CARIBBEAN GROUP | $2.8M | 0.40% | 10,000 | Common | SOLE |
| 143658300 | CCL1EUR | CARNIVAL CORP | $2.8M | 0.39% | 90,694 | Common | SOLE |
| G66721104 | NCLH | NORWEGIAN CRUISE LINE HLDG L | $2.7M | 0.38% | 120,000 | Common | SOLE |
| 770700102 | HOOD | ROBINHOOD MKTS INC | $2.6M | 0.37% | 23,235 | Common | SOLE |
| 81369Y407 | XLY | SELECT SECTOR SPDR TR | $2.6M | 0.37% | 22,000 | Common | SOLE |
| 517834107 | LVS | LAS VEGAS SANDS CORP | $2.6M | 0.36% | 39,343 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $2.4M | 0.34% | 16,103 | Common | SOLE |
| 88160R101 | TSLA | TESLA INC | $2.1M | 0.30% | 4,688 | Common | SOLE |
| 92337C203 | VSTM | VERASTEM INC | $2.1M | 0.29% | 266,812 | Common | SOLE |
| G3730V105 | FTAI | FTAI AVIATION LTD | $2.0M | 0.29% | 10,400 | Common | SOLE |
| 654106103 | NKE | NIKE INC | $2.0M | 0.29% | 32,000 | Common | SOLE |
| 81141R100 | SE | SEA LTD | $2.0M | 0.28% | 15,463 | Common | SOLE |
| 81369Y803 | XLK | SELECT SECTOR SPDR TR | $1.9M | 0.27% | 13,400 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $1.9M | 0.27% | 20,500 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $1.9M | 0.27% | 2,200 | Common | SOLE |
| 45841N107 | IBKR | INTERACTIVE BROKERS GROUP IN | $1.9M | 0.26% | 28,938 | Common | SOLE |
| 81369Y704 | XLI | SELECT SECTOR SPDR TR | $1.6M | 0.23% | 10,500 | Common | SOLE |
| 81369Y886 | XLU | SELECT SECTOR SPDR TR | $1.6M | 0.22% | 36,768 | Common | SOLE |
| L8681T102 | SPOT | SPOTIFY TECHNOLOGY S A | $1.6M | 0.22% | 2,695 | Common | SOLE |
| 04626A103 | ALAB | ASTERA LABS INC | $1.5M | 0.21% | 8,803 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $1.4M | 0.20% | 5,677 | Common | SOLE |
| 833635105 | SQM | SOCIEDAD QUIMICA Y MINERA DE | $1.3M | 0.19% | 19,555 | Common | SOLE |
| 880881107 | 430 | TERNS PHARMACEUTICALS INC | $1.3M | 0.19% | 33,070 | Common | SOLE |
| 23306J309 | DBVT | DBV TECHNOLOGIES S A | $1.2M | 0.18% | 64,500 | Common | SOLE |
| 67080M103 | NRIX | NURIX THERAPEUTICS INC | $1.1M | 0.16% | 58,898 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $1.1M | 0.16% | 9,879 | Common | SOLE |
| 713317105 | PEPG | PEPGEN INC | $1.0M | 0.15% | 160,000 | Common | SOLE |
| 46591M109 | JOYY | JOYY INC | $1.0M | 0.14% | 15,654 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $966,462 | 0.14% | 3,555 | Common | SOLE |
| 097023105 | BA | BOEING CO | $955,328 | 0.14% | 4,400 | Common | SOLE |
| 464287432 | TLT | ISHARES TR | $897,225 | 0.13% | 10,294 | Common | SOLE |
| 91332U101 | U | UNITY SOFTWARE INC | $883,400 | 0.13% | 20,000 | Common | SOLE |
| 60937P106 | MDB | MONGODB INC | $868,758 | 0.12% | 2,070 | Common | SOLE |
| 219350105 | GLW | CORNING INC | $807,478 | 0.11% | 9,222 | Common | SOLE |
| 874054109 | TTWO | TAKE-TWO INTERACTIVE SOFTWAR | $774,235 | 0.11% | 3,024 | Common | SOLE |
| G4124C109 | GRAB | GRAB HOLDINGS LIMITED | $743,380 | 0.11% | 148,974 | Common | SOLE |
| 826599102 | SGML | SIGMA LITHIUM CORPORATION | $659,500 | 0.09% | 50,000 | Common | SOLE |
| 771049103 | RBLX | ROBLOX CORP | $652,048 | 0.09% | 8,047 | Common | SOLE |
| 783513203 | RYAAY | RYANAIR HOLDINGS PLC | $628,558 | 0.09% | 8,707 | Common | SOLE |
| 55087P104 | LYFT | LYFT INC | $622,900 | 0.09% | 32,158 | Common | SOLE |
| 624756102 | MLI | MUELLER INDS INC | $614,984 | 0.09% | 5,357 | Common | SOLE |
| 316841105 | FIG | FIGMA INC | $613,989 | 0.09% | 16,430 | Common | SOLE |
| 92189F676 | SMH | VANECK ETF TRUST | $612,221 | 0.09% | 1,700 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INC | $577,134 | 0.08% | 1,649 | Common | SOLE |
| 83418M103 | SEI | SOLARIS ENERGY INFRAS INC | $576,464 | 0.08% | 12,540 | Common | SOLE |
| 48553T106 | BZ | KANZHUN LIMITED | $573,371 | 0.08% | 28,134 | Common | SOLE |
| 98422D105 | XPEV | XPENG INC | $561,756 | 0.08% | 27,700 | Common | SOLE |
| 81764X103 | TTAN | SERVICETITAN INC | $546,026 | 0.08% | 5,127 | Common | SOLE |
| 79466L302 | CRM | SALESFORCE INC | $545,450 | 0.08% | 2,059 | Common | SOLE |
| Q4982L109 | IREN | IREN LIMITED | $529,535 | 0.08% | 14,020 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $516,344 | 0.07% | 2,237 | Common | SOLE |
| 553368101 | MP | MP MATERIALS CORP | $505,200 | 0.07% | 10,000 | Common | SOLE |
| 62914V106 | NIO | NIO INC | $459,000 | 0.07% | 90,000 | Common | SOLE |
| 368736104 | GNRC | GENERAC HLDGS INC | $409,110 | 0.06% | 3,000 | Common | SOLE |
| 79589L106 | IOT | SAMSARA INC | $407,675 | 0.06% | 11,500 | Common | SOLE |
| 88034P109 | TME | TENCENT MUSIC ENTMT GROUP | $364,624 | 0.05% | 20,800 | Common | SOLE |
| 92826C839 | V | VISA INC | $358,776 | 0.05% | 1,023 | Common | SOLE |
| 833445109 | SNOW | SNOWFLAKE INC | $350,976 | 0.05% | 1,600 | Common | SOLE |
| 314911108 | FRMI | FERMI INC | $280,800 | 0.04% | 35,100 | Common | SOLE |
| 50202M102 | LI | LI AUTO INC | $279,345 | 0.04% | 16,500 | Common | SOLE |
| 36165L108 | GDS | GDS HLDGS LTD | $268,172 | 0.04% | 7,684 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $244,380 | 0.03% | 6,000 | Common | SOLE |
| 74969N103 | RLX | RLX TECHNOLOGY INC | $230,204 | 0.03% | 98,800 | Common | SOLE |
| 573874104 | MRVL | MARVELL TECHNOLOGY INC | $229,361 | 0.03% | 2,699 | Common | SOLE |
| 550021109 | LULU | LULULEMON ATHLETICA INC | $227,552 | 0.03% | 1,095 | Common | SOLE |
| 66981J102 | MNSO | MINISO GROUP HLDG LTD | $223,125 | 0.03% | 11,900 | Common | SOLE |
| N07059210 | ASML | ASML HOLDING N V | $217,182 | 0.03% | 203 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $214,784 | 0.03% | 411 | Common | SOLE |
| 16411R208 | LNG | CHENIERE ENERGY INC | $212,857 | 0.03% | 1,095 | Common | SOLE |
| 15743P104 | CHA | CHAGEE HLDGS LTD | $177,939 | 0.03% | 15,300 | Common | SOLE |
| 836100107 | SOUN | SOUNDHOUND AI INC | $121,963 | 0.02% | 12,233 | Common | SOLE |
| 44852D108 | HUYA | HUYA INC | $95,818 | 0.01% | 33,270 | Common | SOLE |
| 46267X108 | IQ | IQIYI INC | $62,513 | 0.01% | 32,559 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.