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Livermore
Livermore
ZHEN

Polygon Management Ltd.

SEC CIK
0001515070
Latest filing
Aug 12, 2026

The latest 13F from Polygon Management Ltd. covers Q2 2026 (filed Aug 12, 2026): 32 long positions worth $614.3M. The top 10 holdings make up 76.5% of the portfolio, and the largest is UiPath, Inc. (PATH) at 54.8%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
5
Est. +$24.0M
Added
15
Est. +$96.3M
Reduced
5
Est. −$20.5M
Sold out
7
Est. −$16.5M

Top 5 holdings

Share of this quarter's portfolio value

  1. PATHUiPath, Inc.
    54.8%$336.4MHistory
  2. KGEIKolibri Global Energy Inc.
    5.5%$33.8MHistory
  3. AUTLAutolus Therapeutics plc
    2.5%$15.2MHistory
  4. LYFTLyft, Inc.
    2.4%$14.6MHistory
  5. DFTXDefinium Therapeutics, Inc.
    2.2%$13.5MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. PATHUiPath, Inc.
    +$62.4MAddedHistory
  2. ALKTAlkami Technology, Inc.
    +$10.9MNewHistory
  3. RLAYRelay Therapeutics, Inc.
    +$7.27MAddedHistory
  4. CELCCelcuity Inc.
    +$6.71MNewHistory
  5. IONSIonis Pharmaceuticals Inc
    +$4.39MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. ALKTAlkami Technology, Inc.
    +1.77 pp0.0% → 1.8%History
  2. DFTXDefinium Therapeutics, Inc.
    +1.45 pp0.7% → 2.2%History
  3. RLAYRelay Therapeutics, Inc.
    +1.38 pp0.4% → 1.7%History
  4. CELCCelcuity Inc.
    +1.09 pp0.0% → 1.1%History
  5. MBXMBX Biosciences, Inc.
    +0.98 pp0.9% → 1.8%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. WBDWarner Bros. Discovery, Inc.
    −$18.0MReducedHistory
  2. PRAXPraxis Precision Medicines, Inc.
    −$5.14MSold outHistory
  3. SLNOSoleno Therapeutics Inc
    −$3.42MSold outHistory
  4. AXSMAxsome Therapeutics, Inc.
    −$3.39MSold outHistory
  5. MPLTMapLight Therapeutics, Inc.
    −$2.28MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. WBDWarner Bros. Discovery, Inc.
    −3.90 pp5.0% → 1.1%History
  2. PRAXPraxis Precision Medicines, Inc.
    −1.01 pp1.0% → 0.0%History
  3. SLNOSoleno Therapeutics Inc
    −0.67 pp0.7% → 0.0%History
  4. AXSMAxsome Therapeutics, Inc.
    −0.67 pp0.7% → 0.0%History
  5. NKTRNektar Therapeutics
    −0.47 pp1.5% → 1.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$614.3M
+$105.4M (+20.7%) vs. prior quarter
Positions
32
−2 vs. prior quarter
Top 10 concentration
76.5%
Top 10 as share of value
Turnover
6.6%
Q2 2026, one quarter
Average holding period
13.1 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $2.20B (Q1 2022)

Q1 2021: $1.40BQ2 2021: $1.83BQ3 2021: $1.63BQ4 2021: $1.65BQ1 2022: $2.20BQ2 2022: $1.42BQ3 2022: $829.5MQ4 2022: $697.5MQ1 2023: $747.5MQ2 2023: $740.6MQ3 2023: $548.3MQ4 2023: $394.0MQ1 2024: $363.7MQ2 2024: $322.6MQ3 2024: $313.8MQ4 2024: $309.9MQ1 2025: $311.8MQ2 2025: $554.5MQ3 2025: $688.6MQ4 2025: $474.3MQ1 2026: $508.9MQ2 2026: $614.3M
Q1 2021Q2 2026
13F filings of Polygon Management Ltd. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 12, 202632$614.3MPATHKGEIAUTLvs. Q1 2026SEC
Q1 2026May 15, 202634$508.9MPATHKGEIWBDvs. Q4 2025SEC
Q4 2025Feb 17, 202628$474.3MPATHKGEILYFTvs. Q3 2025SEC
Q3 2025Nov 14, 202543$688.6MPATHAlibaba Group Hldg LtdKGEIvs. Q2 2025SEC
Q2 2025Aug 14, 202536$554.5MPATHAlibaba Group Hldg LtdKGEIvs. Q1 2025SEC
Q1 2025May 15, 202530$311.8MPATHKGEILithium Amers Corp Newvs. Q4 2024SEC
Q4 2024Feb 21, 2025Amended25$309.9MPATHKGEILithium Amers Corp Newvs. Q3 2024SEC
Q3 2024Nov 14, 202422$313.8MPATHFirst Majestic Silver CorpAUTLvs. Q2 2024SEC
Q2 2024Aug 14, 202426$322.6MPATHFirst Majestic Silver CorpAUTLvs. Q1 2024SEC
Q1 2024May 15, 202429$363.7MPATHAUTLCytokinetics Incvs. Q4 2023SEC
Q4 2023Feb 14, 202431$394.0MPATHAUTLLYFTvs. Q3 2023SEC
Q3 2023Nov 14, 202346$548.3MPalo Alto Networks IncPATHLYFTvs. Q2 2023SEC
Q2 2023Aug 14, 202351$740.6MChesapeake Energy CorpEnvista Holdings CorpPalo Alto Networks Incvs. Q1 2023SEC
Q1 2023May 15, 202354$747.5MEnvista Holdings CorpChesapeake Energy CorpWorld Wrestling Entmt Incvs. Q4 2022SEC
Q4 2022Feb 14, 202369$697.5MChesapeake Energy CorpEnvista Holdings CorpWorld Wrestling Entmt Incvs. Q3 2022SEC
Q3 2022Nov 14, 2022146$829.5MEnvista Holdings CorpChesapeake Energy CorpPalo Alto Networks Incvs. Q2 2022SEC
Q2 2022Aug 15, 2022194$1.42BEnvista Holdings CorpChesapeake Energy CorpChesapeake Energy Corpvs. Q1 2022SEC
Q1 2022May 16, 2022221$2.20BEnvista Holdings CorpChesapeake Energy CorpAmerican Eagle Outfitters INvs. Q4 2021SEC
Q4 2021Feb 14, 2022211$1.65BAmerican Eagle Outfitters INEnvista Holdings CorpSnap Incvs. Q3 2021SEC
Q3 2021Nov 15, 2021202$1.63BAmerican Eagle Outfitters INSnap IncCleveland-Cliffs Inc.vs. Q2 2021SEC
Q2 2021Aug 16, 2021191$1.83BAmerican Eagle Outfitters INCleveland-Cliffs Inc.Teradyne, Incvs. Q1 2021SEC
Q1 2021May 17, 2021111$1.40BTesla, Inc.Cleveland-Cliffs Inc.Teradyne, Inc–SEC

13D and 13G filings

Companies where Polygon Management Ltd. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

1 company, largest stake first.

Companies where Polygon Management Ltd. owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
KGEIKolibri Global Energy Inc.13G19.80%7.07M sharesNewSep 10, 20251 filingSep 10, 2025SEC

Latest filings

1 filing on file made by Polygon Management Ltd. or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Polygon Management Ltd.
CompanyFiled (ET)FormStakeChangeEvent dateFiling
KGEIKolibri Global Energy Inc.Sep 10, 20254:15 PM ET13G19.80%7.07M sharesNewDec 31, 2023SEC