# EDGAR Filing Document

**Accession Number:** 0001837309
**File Stem:** 0001172661-26-002147
**Filing Date:** 2026-5
**Character Count:** 28705
**Document Hash:** b94a54839436507f7a3f98cfed878adc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-002147.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0001172661-26-002147

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**EFFECTIVENESS DATE**: 20260515

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Polar Capital Holdings Plc
- **CENTRAL INDEX KEY:** 0001837309

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20910
- **FILM NUMBER:** 26984137

**BUSINESS ADDRESS:**
- **STREET 1:** 16 PALACE STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** SW1E 5JD
- **BUSINESS PHONE:** 02072272700

**MAIL ADDRESS:**
- **STREET 1:** 16 PALACE STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** SW1E 5JD

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Polar Capital Holdings Plc<br>**Address:** 16 Palace Street<br>London, X0 SW1E 5JD

**Form 13F File Number:** 028-20910

**CRD Number (if applicable):** 000136133

**SEC File Number (if applicable):** 801-64644

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Samir Ayub<br>**Title:** Group Finance Director<br>**Phone:** 44-0-20-7227-2700

**Signature, Place, and Date of Signing:**

/s/ Samir Ayub  London, X0  05-15-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 3

**Form 13F Information Table Entry Total:** 242

**Form 13F Information Table Value Total:** $28162052749

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                           | Form 13F File Number   |
|:---|:---|:---|
|  | Polar Capital LLP              | 028-13167              |
|  | Polar Capital (Switzerland) AG | 028-23030              |
|  | Polar Capital (America) Corp   |  |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADDUS HOMECARE CORP | COM | 006739106 |  | 2758835 | 29459 | SH |  | DFND | 1 | 29459 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 692777203 | 3405482 | SH |  | DFND | 1 | 3405482 | 0 | 0 |
| AEROVIRONMENT INC | NOTE 7/1 | 008073AA6 |  | 6377345 | 6500000 | SH |  | DFND | 1 | 6500000 | 0 | 0 |
| AFFILIATED MANAGERS GROUP | COM | 008252108 |  | 24149823 | 87278 | SH |  | DFND | 1 | 87278 | 0 | 0 |
| AFFIRM HLDGS INC | COM CL A | 00827B106 |  | 17351301 | 378684 | SH |  | DFND | 1 | 378684 | 0 | 0 |
| AFLAC INC | COM | 001055102 |  | 41141250 | 375000 | SH |  | DFND | 1 | 375000 | 0 | 0 |
| AGCO CORP | COM | 001084102 |  | 20297759 | 175177 | SH |  | DFND | 1 | 175177 | 0 | 0 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 |  | 18377679 | 161236 | SH |  | DFND | 1 | 161236 | 0 | 0 |
| AKAMAI TECHNOLOGIES INC | COM | 00971T101 |  | 148921975 | 1296665 | SH |  | DFND | 1 | 1296665 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 22101159 | 176161 | SH |  | DFND | 1 | 176161 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 85256596 | 257674 | SH |  | DFND | 1 | 257674 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 411984336 | 1432690 | SH |  | DFND | 13 | 1432690 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2194159100 | 7630000 | SH | Call | DFND | 1 | 7630000 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 365142947 | 1272896 | SH |  | DFND | 1 | 1272896 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 338136342 | 1623548 | SH |  | DFND | 13 | 1623548 | 0 | 0 |
| AMDOCS LTD | SHS | G02602103 |  | 10443558 | 160030 | SH |  | DFND | 1 | 160030 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 13737129 | 45415 | SH |  | DFND | 1 | 45415 | 0 | 0 |
| AMPHENOL CORP | CL A | 032095101 |  | 79091310 | 625970 | SH |  | DFND | 13 | 625970 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 41615257 | 130808 | SH |  | DFND | 13 | 130808 | 0 | 0 |
| APOGEE THERAPEUTICS INC | COM | 03770N101 |  | 45382528 | 539177 | SH |  | DFND | 1 | 539177 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 328867934 | 1295827 | SH |  | DFND | 1 | 1295827 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 1738461500 | 6850000 | SH | Call | DFND | 1 | 6850000 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 12498577 | 36568 | SH |  | DFND | 1 | 36568 | 0 | 0 |
| ARCH CAP GROUP LTD | ORD | G0450A105 |  | 316767000 | 3300000 | SH |  | DFND | 1 | 3300000 | 0 | 0 |
| ARCUTIS BIOTHERAPEUTICS INC | COM | 03969K108 |  | 133513106 | 5666940 | SH |  | DFND | 1 | 5666940 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 273918374 | 2230969 | SH |  | DFND | 1 | 2230969 | 0 | 0 |
| ASCENDIS PHARMA A/S | NOTE 2.250% 4/0 | 04351PAD3 |  | 5112450 | 3500000 | SH |  | DFND | 1 | 3500000 | 0 | 0 |
| ASCENDIS PHARMA A/S | SPONSORED ADR | 04351P101 |  | 149066086 | 651712 | SH |  | DFND | 1 | 651712 | 0 | 0 |
| AST SPACEMOBILE INC | COM CL A | 00217D100 |  | 22911566 | 276476 | SH |  | DFND | 1 | 276476 | 0 | 0 |
| AXOGEN INC | COM | 05463X106 |  | 49722233 | 1500822 | SH |  | DFND | 1 | 1500822 | 0 | 0 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 10204876 | 24029 | SH |  | DFND | 1 | 24029 | 0 | 0 |
| BAKER HUGHES COMPANY | CL A | 05722G100 |  | 46816131 | 766849 | SH |  | DFND | 1 | 766849 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 18272182 | 374814 | SH |  | DFND | 1 | 374814 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 57553819 | 485154 | SH |  | DFND | 1 | 485154 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 150787000 | 2275000 | SH |  | DFND | 1 | 2275000 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 48260232 | 100710 | SH |  | DFND | 1 | 100710 | 0 | 0 |
| BIOAGE LABS INC | COM | 09077V100 |  | 19809874 | 1132640 | SH |  | DFND | 1 | 1132640 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 4881670 | 42453 | SH |  | DFND | 1 | 42453 | 0 | 0 |
| BLOOM ENERGY CORP | COM CL A | 093712107 |  | 103631288 | 764863 | SH |  | DFND | 1 | 764863 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 7422794 | 1763 | SH |  | DFND | 1 | 1763 | 0 | 0 |
| BOWHEAD SPECIALTY HLDGS INC | COM SHS | 10240L102 |  | 33645000 | 1500000 | SH |  | DFND | 1 | 1500000 | 0 | 0 |
| BRIDGEBIO PHARMA INC | COM | 10806X102 |  | 187083664 | 2519306 | SH |  | DFND | 1 | 2519306 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 889303322 | 2873262 | SH |  | DFND | 13 | 2873262 | 0 | 0 |
| BROWN  BROWN INC | COM | 115236101 |  | 93902400 | 1440000 | SH |  | DFND | 1 | 1440000 | 0 | 0 |
| BRUKER CORP | COM | 116794108 |  | 12535013 | 347038 | SH |  | DFND | 1 | 347038 | 0 | 0 |
| BUILDERS FIRSTSOURCE INC | COM | 12008R107 |  | 5327492 | 64709 | SH |  | DFND | 1 | 64709 | 0 | 0 |
| BURLINGTON STORES INC | NOTE 1.250%12/1 | 122017AD8 |  | 3985650 | 2500000 | SH |  | DFND | 1 | 2500000 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 7075183 | 38783 | SH |  | DFND | 1 | 38783 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 102978912 | 145356 | SH |  | DFND | 1 | 145356 | 0 | 0 |
| CELCUITY INC | NOTE 2.750% 8/0 | 15102KAA8 |  | 1818623 | 750000 | SH |  | DFND | 1 | 750000 | 0 | 0 |
| CELESTICA INC | COM | 15101Q207 |  | 299990608 | 1065005 | SH |  | DFND | 1 | 1065005 | 0 | 0 |
| CENOVUS ENERGY INC | COM | 15135U109 |  | 17404980 | 656049 | SH |  | DFND | 1 | 656049 | 0 | 0 |
| CENTENE CORP DEL | COM | 15135B101 |  | 24435073 | 746337 | SH |  | DFND | 1 | 746337 | 0 | 0 |
| CG ONCOLOGY INC | COM | 156944100 |  | 47677920 | 704461 | SH |  | DFND | 1 | 704461 | 0 | 0 |
| CHEMED CORP NEW | COM | 16359R103 |  | 1925719 | 5098 | SH |  | DFND | 1 | 5098 | 0 | 0 |
| CHUBB LTD SWITZ | COM | H1467J104 |  | 242409786 | 743748 | SH |  | DFND | 1 | 743748 | 0 | 0 |
| CIENA CORP | COM NEW | 171779309 |  | 309960891 | 798395 | SH |  | DFND | 1 | 798395 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 21388304 | 275658 | SH |  | DFND | 1 | 275658 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 11876635 | 104723 | SH |  | DFND | 1 | 104723 | 0 | 0 |
| CLOUDFLARE INC | CL A COM | 18915M107 |  | 240197093 | 1164084 | SH |  | DFND | 1 | 1164084 | 0 | 0 |
| COGENT BIOSCIENCES INC | NOTE 1.625%11/1 | 19240QAA0 |  | 4580822 | 3700000 | SH |  | DFND | 1 | 3700000 | 0 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 471222734 | 1978182 | SH |  | DFND | 13 | 1978182 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 1906392 | 10918 | SH |  | DFND | 1 | 10918 | 0 | 0 |
| COMFORT SYS USA INC | COM | 199908104 |  | 64129930 | 46505 | SH |  | DFND | 1 | 46505 | 0 | 0 |
| CORE  MAIN INC | CL A | 21874C102 |  | 13242312 | 268063 | SH |  | DFND | 1 | 268063 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 453293659 | 3333777 | SH |  | DFND | 1 | 3333777 | 0 | 0 |
| CORVUS PHARMACEUTICALS INC | COM | 221015100 |  | 15656646 | 1070174 | SH |  | DFND | 1 | 1070174 | 0 | 0 |
| CREDIT ACCEP CORP MICH | COM | 225310101 |  | 11761602 | 27775 | SH |  | DFND | 1 | 27775 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 35019863 | 487606 | SH |  | DFND | 1 | 487606 | 0 | 0 |
| CYTOKINETICS INC | COM NEW | 23282W605 |  | 109492856 | 1661248 | SH |  | DFND | 1 | 1661248 | 0 | 0 |
| DATADOG INC | NOTE 12/0 | 23804LAD5 |  | 580848 | 600000 | SH |  | DFND | 1 | 600000 | 0 | 0 |
| DELTA AIR LINES INC | COM NEW | 247361702 |  | 50669593 | 762178 | SH |  | DFND | 1 | 762178 | 0 | 0 |
| DIANTHUS THERAPEUTICS INC | COM | 252828108 |  | 90298675 | 1076009 | SH |  | DFND | 1 | 1076009 | 0 | 0 |
| DYNE THERAPEUTICS INC | COM | 26818M108 |  | 24641734 | 1359169 | SH |  | DFND | 1 | 1359169 | 0 | 0 |
| EAST WEST BANCORP INC | COM | 27579R104 |  | 5925927 | 55507 | SH |  | DFND | 1 | 55507 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 32155168 | 120875 | SH |  | DFND | 1 | 120875 | 0 | 0 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 12550485 | 42871 | SH |  | DFND | 1 | 42871 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 258549187 | 281102 | SH |  | DFND | 1 | 281102 | 0 | 0 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 1798888 | 18597 | SH |  | DFND | 1 | 18597 | 0 | 0 |
| ENGENE HOLDINGS INC | COM | 29286M105 |  | 8335924 | 1224071 | SH |  | DFND | 1 | 1224071 | 0 | 0 |
| ENLIVEN THERAPEUTICS INC | COM | 29337E102 |  | 198584574 | 5065933 | SH |  | DFND | 1 | 5065933 | 0 | 0 |
| ENSIGN GROUP INC | COM | 29358P101 |  | 3348729 | 16619 | SH |  | DFND | 1 | 16619 | 0 | 0 |
| EOS ENERGY ENTERPRISES INC | COM CL A | 29415C101 |  | 8382400 | 1690000 | SH |  | DFND | 13 | 1690000 | 0 | 0 |
| ESSENT GROUP LTD | COM | G3198U102 |  | 149022000 | 2550000 | SH |  | DFND | 1 | 2550000 | 0 | 0 |
| ETSY INC | NOTE 0.250% 6/1 | 29786AAN6 |  | 2696790 | 3000000 | SH |  | DFND | 1 | 3000000 | 0 | 0 |
| EVEREST GROUP LTD | COM | G3223R108 |  | 131883975 | 403500 | SH |  | DFND | 1 | 403500 | 0 | 0 |
| EVERPURE INC | CL A | 74624M102 |  | 66814033 | 1131674 | SH |  | DFND | 1 | 1131674 | 0 | 0 |
| FABRINET | SHS | G3323L100 |  | 190825211 | 365902 | SH |  | DFND | 1 | 365902 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 10080098 | 43214 | SH |  | DFND | 1 | 43214 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 5260581 | 112142 | SH |  | DFND | 1 | 112142 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 22566544 | 114400 | SH |  | DFND | 13 | 114400 | 0 | 0 |
| FLEXTRONICS INTL LTD | ORD | Y2573F102 |  | 236347323 | 3610561 | SH |  | DFND | 1 | 3610561 | 0 | 0 |
| FLUOR CORP | NOTE 1.125% 8/1 | 343412AJ1 |  | 8057855 | 6500000 | SH |  | DFND | 1 | 6500000 | 0 | 0 |
| FORMFACTOR INC | COM | 346375108 |  | 222331438 | 2292313 | SH |  | DFND | 1 | 2292313 | 0 | 0 |
| FORTUNA MNG CORP | NOTE 3.750% 6/3 | 349915AE8 |  | 3464980 | 2000000 | SH |  | DFND | 1 | 2000000 | 0 | 0 |
| FUTU HLDGS LTD | SPON ADS CL A | 36118L106 |  | 63192283 | 462067 | SH |  | DFND | 1 | 462067 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 251386471 | 287990 | SH |  | DFND | 13 | 287990 | 0 | 0 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 5248256 | 77983 | SH |  | DFND | 1 | 77983 | 0 | 0 |
| GLOBE LIFE INC | COM | 37959E102 |  | 9384094 | 67429 | SH |  | DFND | 1 | 67429 | 0 | 0 |
| GOODRX HLDGS INC | COM CL A | 38246G108 |  | 19600 | 10000 | SH |  | DFND | 1 | 10000 | 0 | 0 |
| GUARDANT HEALTH INC | COM | 40131M109 |  | 16010123 | 173326 | SH |  | DFND | 1 | 173326 | 0 | 0 |
| HAGERTY INC | CL A COM | 405166109 |  | 63180000 | 6000000 | SH |  | DFND | 1 | 6000000 | 0 | 0 |
| HAMILTON INSURANCE GROUP LTD | CL B | G42706104 |  | 7319268 | 245366 | SH |  | DFND | 1 | 245366 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 5339151 | 39482 | SH |  | DFND | 1 | 39482 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 44467050 | 93963 | SH |  | DFND | 1 | 93963 | 0 | 0 |
| HYATT HOTELS CORP | COM CL A | 448579102 |  | 9265971 | 64441 | SH |  | DFND | 1 | 64441 | 0 | 0 |
| ICON PLC | SHS | G4705A100 |  | 11116904 | 100460 | SH |  | DFND | 1 | 100460 | 0 | 0 |
| IMMUNOCORE HLDGS PLC | NOTE 2.500% 2/0 | 45258DAB1 |  | 5786755 | 6500000 | SH |  | DFND | 1 | 6500000 | 0 | 0 |
| IMMUNOME INC | COM | 45257U108 |  | 18578106 | 849479 | SH |  | DFND | 1 | 849479 | 0 | 0 |
| IMPINJ INC | COM | 453204109 |  | 1000401 | 9741 | SH |  | DFND | 1 | 9741 | 0 | 0 |
| INSMED INC | COM PAR $.01 | 457669307 |  | 60192857 | 368107 | SH |  | DFND | 1 | 368107 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 356835974 | 8086018 | SH |  | DFND | 1 | 8086018 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 20230391 | 301631 | SH |  | DFND | 1 | 301631 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 15048236 | 95678 | SH |  | DFND | 1 | 95678 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 2912074 | 6317 | SH |  | DFND | 1 | 6317 | 0 | 0 |
| INVENTIVA SA | ADS | 46124U107 |  | 11833366 | 2132138 | SH |  | DFND | 1 | 2132138 | 0 | 0 |
| IONIS PHARMACEUTICALS INC | COM | 462222100 |  | 62287981 | 829511 | SH |  | DFND | 1 | 829511 | 0 | 0 |
| IRHYTHM HOLDINGS INC | COM | 450056106 |  | 49758648 | 421612 | SH |  | DFND | 1 | 421612 | 0 | 0 |
| JOHNSON CONTROLS INTERNATION | SHS | G51502105 |  | 61399574 | 468878 | SH |  | DFND | 1 | 468878 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 33320680 | 113274 | SH |  | DFND | 1 | 113274 | 0 | 0 |
| KASPI KZ JSC | SPONSORED ADS | 48581R205 |  | 49503870 | 668339 | SH |  | DFND | 1 | 668339 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 399492809 | 271319 | SH |  | DFND | 1 | 271319 | 0 | 0 |
| KYMERA THERAPEUTICS INC | COM | 501575104 |  | 17924008 | 215200 | SH |  | DFND | 1 | 215200 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 408836487 | 1913491 | SH |  | DFND | 1 | 1913491 | 0 | 0 |
| LI AUTO INC | NOTE 0.250% 5/0 | 50202MAB8 |  | 2519425 | 2500000 | SH |  | DFND | 1 | 2500000 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S C | 531229755 |  | 14208542 | 167120 | SH |  | DFND | 1 | 167120 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | NOTE 2.250% 8/1 | 531229AQ5 |  | 1154130 | 1000000 | SH |  | DFND | 1 | 1000000 | 0 | 0 |
| LIFESTANCE HEALTH GROUP INC | COM | 53228F101 |  | 122145 | 19175 | SH |  | DFND | 1 | 19175 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 9290542 | 18740 | SH |  | DFND | 13 | 18740 | 0 | 0 |
| LITTELFUSE INC | COM | 537008104 |  | 19947332 | 58781 | SH |  | DFND | 1 | 58781 | 0 | 0 |
| LUMENTUM HLDGS INC | COM | 55024U109 |  | 505625981 | 719486 | SH |  | DFND | 13 | 719486 | 0 | 0 |
| MACOM TECH SOLUTIONS HLDGS I | COM | 55405Y100 |  | 206697870 | 930778 | SH |  | DFND | 1 | 930778 | 0 | 0 |
| MADRIGAL PHARMACEUTICALS INC | COM | 558868105 |  | 151445106 | 289310 | SH |  | DFND | 1 | 289310 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 153125600 | 80000 | SH |  | DFND | 1 | 80000 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 211609000 | 1220000 | SH |  | DFND | 1 | 1220000 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 41184990 | 415800 | SH |  | DFND | 13 | 415800 | 0 | 0 |
| MASTERBRAND INC | COMMON STOCK | 57638P104 |  | 6179698 | 743646 | SH |  | DFND | 1 | 743646 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 17127345 | 34278 | SH |  | DFND | 1 | 34278 | 0 | 0 |
| MBX BIOSCIENCES INC | COM | 55287L101 |  | 48422252 | 1622186 | SH |  | DFND | 1 | 1622186 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 14789868 | 17091 | SH |  | DFND | 1 | 17091 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 54585161 | 31570 | SH |  | DFND | 1 | 31570 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 600174096 | 1049017 | SH |  | DFND | 1 | 1049017 | 0 | 0 |
| MIAMI INTL HLDGS INC | COM | 59356Q108 |  | 4618792 | 118674 | SH |  | DFND | 1 | 118674 | 0 | 0 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 8593130 | 133000 | SH |  | DFND | 13 | 133000 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 346737016 | 1026335 | SH |  | DFND | 1 | 1026335 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 244001998 | 659162 | SH |  | DFND | 1 | 659162 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 1335055122 | 3606600 | SH | Call | DFND | 1 | 3606600 | 0 | 0 |
| MINERALYS THERAPEUTICS INC | COM | 603170101 |  | 40655290 | 1500749 | SH |  | DFND | 1 | 1500749 | 0 | 0 |
| MIRUM PHARMACEUTICALS INC | COM | 604749101 |  | 26188252 | 283484 | SH |  | DFND | 1 | 283484 | 0 | 0 |
| MKS INC. | COM | 55306N104 |  | 16594810 | 72211 | SH |  | DFND | 1 | 72211 | 0 | 0 |
| MONGODB INC | CL A | 60937P106 |  | 80967713 | 330791 | SH |  | DFND | 1 | 330791 | 0 | 0 |
| MONOLITHIC PWR SYS INC | COM | 609839105 |  | 8068923 | 7380 | SH |  | DFND | 13 | 7380 | 0 | 0 |
| MONOPAR THERAPEUTICS INC | COM NEW | 61023L207 |  | 12411360 | 226526 | SH |  | DFND | 1 | 226526 | 0 | 0 |
| MOODYS CORP | COM | 615369105 |  | 5426514 | 12439 | SH |  | DFND | 1 | 12439 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 9020082 | 54810 | SH |  | DFND | 1 | 54810 | 0 | 0 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 10704068 | 221800 | SH |  | DFND | 13 | 221800 | 0 | 0 |
| NATERA INC | COM | 632307104 |  | 1670116 | 8351 | SH |  | DFND | 1 | 8351 | 0 | 0 |
| NEUROPACE INC | COM | 641288105 |  | 43370068 | 3298104 | SH |  | DFND | 1 | 3298104 | 0 | 0 |
| NEWAMSTERDAM PHARMA COMPANY | ORDINARY SHARES | N62509109 |  | 90639740 | 2831607 | SH |  | DFND | 1 | 2831607 | 0 | 0 |
| NLIGHT INC | COM | 65487K100 |  | 18242009 | 319923 | SH |  | DFND | 1 | 319923 | 0 | 0 |
| NORTHERN OIL  GAS INC | NOTE 3.625% 4/1 | 665531AJ8 |  | 9386465 | 8500000 | SH |  | DFND | 1 | 8500000 | 0 | 0 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 118784964 | 8266177 | SH |  | DFND | 1 | 8266177 | 0 | 0 |
| NUVALENT INC | COM | 670703107 |  | 187611870 | 1831253 | SH |  | DFND | 1 | 1831253 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2058894722 | 11805589 | SH |  | DFND | 1 | 11805589 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 11427723 | 58050 | SH |  | DFND | 13 | 58050 | 0 | 0 |
| OLEMA PHARMACEUTICALS INC | COM | 68062P106 |  | 23900283 | 1602970 | SH |  | DFND | 1 | 1602970 | 0 | 0 |
| ON SEMICONDUCTOR CORP | COM | 682189105 |  | 11857680 | 191500 | SH |  | DFND | 13 | 191500 | 0 | 0 |
| OPEN TEXT CORP | COM | 683715106 |  | 5572054 | 250542 | SH |  | DFND | 1 | 250542 | 0 | 0 |
| OPENLANE INC | COM | 48238T109 |  | 12026182 | 412562 | SH |  | DFND | 1 | 412562 | 0 | 0 |
| ORIC PHARMACEUTICALS INC | COM | 68622P109 |  | 6833907 | 539377 | SH |  | DFND | 1 | 539377 | 0 | 0 |
| ORUKA THERAPEUTICS INC | COM | 687604108 |  | 51389342 | 1047693 | SH |  | DFND | 1 | 1047693 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 126856210 | 867215 | SH |  | DFND | 1 | 867215 | 0 | 0 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 61615051 | 603005 | SH |  | DFND | 1 | 603005 | 0 | 0 |
| PHARVARIS N V | COM | N69605108 |  | 22063702 | 781016 | SH |  | DFND | 1 | 781016 | 0 | 0 |
| PHOTRONICS INC | COM | 719405102 |  | 20748555 | 513451 | SH |  | DFND | 1 | 513451 | 0 | 0 |
| PINNACLE WEST CAP CORP | NOTE 4.750% 6/1 | 723484AK7 |  | 5139540 | 4500000 | SH |  | DFND | 1 | 4500000 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 89802720 | 453000 | SH |  | DFND | 1 | 453000 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 10621774 | 82480 | SH |  | DFND | 1 | 82480 | 0 | 0 |
| RADIAN GROUP INC | COM | 750236101 |  | 49620000 | 1500000 | SH |  | DFND | 1 | 1500000 | 0 | 0 |
| RADNET INC | COM | 750491102 |  | 41037400 | 734253 | SH |  | DFND | 1 | 734253 | 0 | 0 |
| RADWARE LTD | ORD | M81873107 |  | 7970433 | 302828 | SH |  | DFND | 1 | 302828 | 0 | 0 |
| RAPPORT THERAPEUTICS INC | COM | 75383L102 |  | 51392605 | 1642461 | SH |  | DFND | 1 | 1642461 | 0 | 0 |
| REDDIT INC | CL A | 75734B100 |  | 15125235 | 112330 | SH |  | DFND | 1 | 112330 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 148768741 | 192546 | SH |  | DFND | 1 | 192546 | 0 | 0 |
| REINSURANCE GROUP AMER INC | COM NEW | 759351604 |  | 111640609 | 546829 | SH |  | DFND | 1 | 546829 | 0 | 0 |
| RELMADA THERAPEUTICS INC | COM | 75955J402 |  | 9845762 | 1414621 | SH |  | DFND | 1 | 1414621 | 0 | 0 |
| RENAISSANCERE HLDGS LTD | COM | G7496G103 |  | 332864607 | 1119889 | SH |  | DFND | 1 | 1119889 | 0 | 0 |
| REVOLUTION MEDICINES INC | COM | 76155X100 |  | 110274693 | 1133930 | SH |  | DFND | 1 | 1133930 | 0 | 0 |
| RHYTHM PHARMACEUTICALS INC | COM | 76243J105 |  | 140507514 | 1615586 | SH |  | DFND | 1 | 1615586 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | NOTE 4.625% 3/1 | 76954AAB9 |  | 1607085 | 1500000 | SH |  | DFND | 1 | 1500000 | 0 | 0 |
| RLI CORP | COM | 749607107 |  | 39215000 | 687500 | SH |  | DFND | 1 | 687500 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 95056246 | 1371663 | SH |  | DFND | 1 | 1371663 | 0 | 0 |
| ROCKET LAB CORP | COM | 773121108 |  | 19202872 | 299017 | SH |  | DFND | 1 | 299017 | 0 | 0 |
| ROIVANT SCIENCES LTD | SHS | G76279101 |  | 43719132 | 1578308 | SH |  | DFND | 1 | 1578308 | 0 | 0 |
| ROYAL BK CDA | COM | 780087102 |  | 15813671 | 97748 | SH |  | DFND | 1 | 97748 | 0 | 0 |
| RYAN SPECIALTY HOLDINGS INC | CL A | 78351F107 |  | 82663000 | 2450000 | SH |  | DFND | 1 | 2450000 | 0 | 0 |
| SANDISK CORP | COM | 80004C200 |  | 557213511 | 877032 | SH |  | DFND | 1 | 877032 | 0 | 0 |
| SAVARA INC | COM | 805111101 |  | 52098152 | 9541786 | SH |  | DFND | 1 | 9541786 | 0 | 0 |
| SCHOLAR ROCK HLDG CORP | COM | 80706P103 |  | 97515152 | 1983628 | SH |  | DFND | 1 | 1983628 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 65599763 | 792172 | SH |  | DFND | 1 | 792172 | 0 | 0 |
| SEAGATE TECHNOLOGY HLDNGS PL | ORD SHS | G7997R103 |  | 365848602 | 933859 | SH |  | DFND | 1 | 933859 | 0 | 0 |
| SHARKNINJA INC | COM SHS | G8068L108 |  | 13861886 | 130896 | SH |  | DFND | 1 | 130896 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 170951230 | 1441167 | SH |  | DFND | 1 | 1441167 | 0 | 0 |
| SITIME CORP | COM | 82982T106 |  | 20321085 | 58842 | SH |  | DFND | 1 | 58842 | 0 | 0 |
| SKYWARD SPECIALTY INS GROUP | COM | 830940102 |  | 43680000 | 1000000 | SH |  | DFND | 1 | 1000000 | 0 | 0 |
| SNOWFLAKE INC | COM SHS | 833445109 |  | 82319818 | 545815 | SH |  | DFND | 1 | 545815 | 0 | 0 |
| SNOWFLAKE INC | NOTE 10/0 | 833445AD1 |  | 6106250 | 5000000 | SH |  | DFND | 1 | 5000000 | 0 | 0 |
| SOLENO THERAPEUTICS INC | COM | 834203309 |  | 56877665 | 1698855 | SH |  | DFND | 1 | 1698855 | 0 | 0 |
| SPHERE ENTERTAINMENT CO | NOTE 3.500%12/0 | 55826TAB8 |  | 6066400 | 2000000 | SH |  | DFND | 1 | 2000000 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 119014371 | 245436 | SH |  | DFND | 1 | 245436 | 0 | 0 |
| SPYRE THERAPEUTICS INC | COM NEW | 00773J202 |  | 39991203 | 792847 | SH |  | DFND | 1 | 792847 | 0 | 0 |
| STEREOTAXIS INC | COM NEW | 85916J409 |  | 32504 | 17665 | SH |  | DFND | 1 | 17665 | 0 | 0 |
| STOKE THERAPEUTICS INC | COM | 86150R107 |  | 36874558 | 1132511 | SH |  | DFND | 1 | 1132511 | 0 | 0 |
| STONEX GROUP INC | COM | 861896108 |  | 8227268 | 102012 | SH |  | DFND | 1 | 102012 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 9210272 | 129122 | SH |  | DFND | 1 | 129122 | 0 | 0 |
| TAYSHA GENE THERAPIES INC | COM SHS | 877619106 |  | 25274900 | 5654340 | SH |  | DFND | 1 | 5654340 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 95725997 | 257501 | SH |  | DFND | 13 | 257501 | 0 | 0 |
| TEVA PHARMACEUTICAL INDS LTD | SPONSORED ADS | 881624209 |  | 155872747 | 5175058 | SH |  | DFND | 1 | 5175058 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 30991282 | 116181 | SH |  | DFND | 1 | 116181 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 37346449 | 75980 | SH |  | DFND | 1 | 75980 | 0 | 0 |
| TOTALENERGIES SE | ACT | F92124100 |  | 7747311 | 85154 | SH |  | DFND | 1 | 85154 | 0 | 0 |
| TOWER SEMICONDUCTOR LTD | SHS NEW | M87915274 |  | 25534621 | 145513 | SH |  | DFND | 1 | 145513 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 139277200 | 477500 | SH |  | DFND | 1 | 477500 | 0 | 0 |
| TRIP COM GROUP LTD | ADS | 89677Q107 |  | 49362105 | 991406 | SH |  | DFND | 1 | 991406 | 0 | 0 |
| TRUPANION INC | COM | 898202106 |  | 41616250 | 1625000 | SH |  | DFND | 1 | 1625000 | 0 | 0 |
| TTM TECHNOLOGIES INC | COM | 87305R109 |  | 284883845 | 2924285 | SH |  | DFND | 1 | 2924285 | 0 | 0 |
| TWILIO INC | CL A | 90138F102 |  | 23306016 | 185233 | SH |  | DFND | 1 | 185233 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 15599243 | 216867 | SH |  | DFND | 13 | 216867 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 8381354 | 11504 | SH |  | DFND | 1 | 11504 | 0 | 0 |
| US FOODS HLDG CORP | COM | 912008109 |  | 60137518 | 652180 | SH |  | DFND | 1 | 652180 | 0 | 0 |
| VAXCYTE INC | COM | 92243G108 |  | 82852541 | 1425788 | SH |  | DFND | 1 | 1425788 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 386133506 | 1540959 | SH |  | DFND | 13 | 1540959 | 0 | 0 |
| VIAVI SOLUTIONS INC | COM | 925550105 |  | 22672166 | 681255 | SH |  | DFND | 1 | 681255 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 37688119 | 124696 | SH |  | DFND | 1 | 124696 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 75034299 | 603752 | SH |  | DFND | 1 | 603752 | 0 | 0 |
| WATTS WATER TECHNOLOGIES INC | CL A | 942749102 |  | 36723136 | 126505 | SH |  | DFND | 1 | 126505 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 263033132 | 972432 | SH |  | DFND | 1 | 972432 | 0 | 0 |
| XENON PHARMACEUTICALS INC | COM | 98420N105 |  | 256168893 | 4405312 | SH |  | DFND | 1 | 4405312 | 0 | 0 |
| XOMETRY INC | CLASS A COM | 98423F109 |  | 2138015 | 52351 | SH |  | DFND | 1 | 52351 | 0 | 0 |
| XPO INC | COM | 983793100 |  | 51519175 | 264812 | SH |  | DFND | 1 | 264812 | 0 | 0 |
| ZENAS BIOPHARMA INC | COM | 98937L105 |  | 49822080 | 2548444 | SH |  | DFND | 1 | 2548444 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 14414168 | 179303 | SH |  | DFND | 1 | 179303 | 0 | 0 |

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