CIK: 0001034524
Total reported value
$14.5B
Reporting period: 2026-03-31 · Number of holdings: 221
POLEN CAPITAL MANAGEMENT LLC disclosed 221 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $14.5B and a quarterly turnover rate of 57.8%.
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Polen Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.043 — mathematically equivalent to about 23 equally-sized positions, well below its 221 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 2.94), 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.
Trim AMZN
-55.0% -$1.2B
Trim ABT
-99.6% -$494.9M
Add CSGP
+157.0% $178.2M
Trim ADBE
-99.1% -$468.1M
Add NOW
+28.0% -$110.2M
Trim BSX
-85.6% -$346.9M
Polen Capital is executing a measured profit-taking rotation across its top conviction names, trimming AMZN, MSFT, ORCL, and ADBE aggressively while maintaining sector-level overweights. This is not a defensive retreat — it's an active rebalancing to free up capacity for higher-alpha plays within the same secular themes.
Polen’s portfolio remains skewed to Information Technology (40.9%) and Financials (17.7%), wagering on a regime of sustained innovation and credit creation. However, the aggressive trims in ABT, ADBE, and ORCL reveal a latent fear of multiple compression in large-cap growth — the opposing thesis is a severe rotation into cyclical value or a liquidity event that seizes the over-owned Tech trade.
Polen Capital's simultaneous trimming of its top five contributors — AMZN, MSFT, ORCL, MA, V — while maintaining full sector exposure introduces a dangerous timing asymmetry. If these names continue to run, the fund will be structurally underweight its own best ideas, a classic case of conviction dilution under the guise of risk management.
Sourced and summarized by AI from public SEC filings, limited to historical activity. Not investment guidance.
Showing top 200 holdings (of 221 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 7.29% | -0.78% | -27.21% | |
| 2 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 5.85% | +0.47% | -26.67% | |
| 3 | LLY | Eli Lilly & Co | Stock-Healthcare | 5.82% | +0.10% | -26.61% | |
| 4 | AVGO | Broadcom INC | Stock-Tech | 5.78% | +0.56% | -23.62% | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 5.61% | -2.92% | -54.97% | |
| 6 | MA | Mastercard INC - A | Stock-Financials | 5.33% | +0.13% | -27.69% | |
| 7 | NOW | Servicenow INC | Stock-Tech | 5.26% | +1.54% | +27.97% | |
| 8 | SHOP | Shopify INC - Class A | Stock-Tech | 5.17% | +0.23% | -12.43% | |
| 9 | V | Visa Inc-class A Shares | Stock-Financials | 5.11% | +0.06% | -27.54% | |
| 10 | ORCL | Oracle CORP | Stock-Tech | 5.11% | -0.87% | -30.08% | |
| 11 | NVDA | Nvidia CORP | Stock-Tech | 4.95% | +0.71% | -22.97% | |
| 12 | CSGP | Costar Group INC | Stock-Real Estate | 3.51% | +2.11% | +157.01% | |
| 13 | MSCI | Msci INC | Stock-Financials | 3.47% | +0.21% | -30.17% | |
| 14 | ZTS | Zoetis INC | Stock-Healthcare | 3.45% | +0.46% | -24.08% | |
| 15 | SBUX | Starbucks CORP | Stock-Consumer Disc | 3.13% | +0.69% | -25.49% | |
| 16 | AON | Aon plc | Stock-Financials | 3.02% | +0.24% | -26.66% | |
| 17 | IDXX | Idexx Laboratories INC | Stock-Healthcare | 2.70% | -0.07% | -27.56% | |
| 18 | ABNB | Airbnb Inc-class A | Stock-Consumer Disc | 1.99% | +0.23% | -24.98% | |
| 19 | ISRG | Intuitive Surgical INC | Stock-Healthcare | 1.94% | -0.10% | -27.98% | |
| 20 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.89% | +1.89% | NEW | |
| 21 | ACN | Accenture plc | Stock-Tech | 1.86% | -0.30% | -28.04% | |
| 22 | SNPS | Synopsys INC | Stock-Tech | 1.84% | +0.15% | -20.55% | |
| 23 | LRCX | Lam Research CORP | Stock-Tech | 1.56% | +1.56% | NEW | |
| 24 | UBER | Uber Technologies INC | Stock-Industrials | 1.45% | +0.21% | -18.17% | |
| 25 | IWF | Ishares Russell 1000 Growth | ETF-Other | 1.20% | -0.37% | -47.58% | |
| 26 | ROL | Rollins INC | Stock-Consumer Disc | 0.80% | +0.80% | NEW | |
| 27 | MELI | Mercadolibre INC | Stock-Consumer Disc | 0.41% | — | -28.11% | |
| 28 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.41% | — | -12.92% | |
| 29 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 0.36% | +0.18% | +49.92% | |
| 30 | ACWI | Ishares Msci Acwi ETF | ETF-Other | 0.29% | -0.08% | -49.78% | |
| 31 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.25% | -1.39% | -85.58% | |
| 32 | ASML | ASML Holding N.V. | Stock-Tech | 0.15% | +0.10% | +43.56% | |
| 33 | NU | Nu Holdings Ltd. | Stock-Financials | 0.12% | — | +5.13% | |
| 34 | SAP | Sap Se-sponsored Adr | Stock-Tech | 0.08% | -0.16% | -71.43% | |
| 35 | AGX | Argan INC | Stock-Industrials | 0.07% | — | -27.75% | |
| 36 | POWL | Powell Industries INC | Stock-Industrials | 0.07% | — | -14.04% | |
| 37 | BE | Bloom Energy Corp- A | Stock-Industrials | 0.06% | — | -30.71% | |
| 38 | INTU | Intuit INC | Stock-Tech | 0.06% | -1.39% | -96.13% | |
| 39 | BELFB | Bel Fuse Inc-cl B | Stock-Other | 0.06% | — | +92.43% | |
| 40 | CECO | Ceco Environmental CORP | Stock-Other | 0.06% | — | +105.28% | |
| 41 | DOCN | Digitalocean Holdings INC | Stock-Tech | 0.06% | +0.06% | NEW | |
| 42 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.06% | — | -8.65% | |
| 43 | NFLX | Netflix INC | Stock-Comm Services | 0.06% | -0.01% | -52.08% | |
| 44 | BWXT | Bwx Technologies INC | Stock-Industrials | 0.05% | — | -14.96% | |
| 45 | VSEC | Vse CORP | Stock-Industrials | 0.05% | — | +22.24% | |
| 46 | AMPX | Amprius Technologies INC | Stock-Other | 0.05% | — | +46.43% | |
| 47 | YOU | Clear Secure INC -class A | Stock-Tech | 0.05% | +0.04% | +271.01% | |
| 48 | VUG | Vanguard Growth ETF | ETF-Other | 0.05% | -0.02% | -51.61% | |
| 49 | FSLY | Fastly INC - Class A | Stock-Tech | 0.05% | +0.05% | NEW | |
| 50 | MOD | Modine Manufacturing Co | Stock-Consumer Disc | 0.04% | — | +102.96% |
Performance for Q3 2026
-3.5%
Performance Last 4 Quarters
-8%
Based on 77% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 221 | $14.5B | 58 | |
| 2025-12-31 | 234 | $23.4B | 36 | |
| 2025-09-30 | 232 | $30.8B | 52 | |
| 2025-06-30 | 240 | $32.6B | 0 | |
| 2025-03-31 | 117 | $31.8B | 100 | |
| 2024-12-31 | 124 | $37.0B | 0 | |
| 2024-09-30 | 118 | $38.7B | 0 | |
| 2024-06-30 | 110 | $39.9B | 0 | |
| 2024-03-31 | 104 | $43.3B | 0 | |
| 2023-12-31 | 107 | $41.5B | 0 | |
| 2023-09-30 | 99 | $38.0B | 0 | |
| 2023-06-30 | 100 | $40.3B | 0 | |
| 2023-03-31 | 94 | $37.9B | 0 | |
| 2022-12-31 | 93 | $34.3B | 0 | |
| 2022-09-30 | 85 | $35.8B | 0 | |
| 2022-06-30 | 84 | $37.9B | 0 | |
| 2022-03-31 | 91 | $51.3B | 0 | |
| 2021-12-31 | 92 | $59.5B | 0 | |
| 2021-09-30 | 91 | $54.5B | 0 | |
| 2021-06-30 | 81 | $52.2B | 92 | |
| 2021-03-31 | 71 | $44.5B | 22 | |
| 2020-12-31 | 72 | $43.0B | 16 | |
| 2020-09-30 | 65 | $37.4B | 21 | |
| 2020-06-30 | 63 | $33.1B | 36 | |
| 2020-03-31 | 63 | $23.1B | 29 | |
| 2019-12-31 | 62 | $25.4B | 23 | |
| 2019-09-30 | 58 | $21.7B | 12 | |
| 2019-06-30 | 56 | $20.6B | 17 | |
| 2019-03-31 | 59 | $19.1B | 26 | |
| 2018-12-31 | 58 | $15.3B | 19 | |
| 2018-09-30 | 58 | $17.6B | 18 | |
| 2018-06-30 | 59 | $15.6B | 12 | |
| 2018-03-31 | 56 | $14.1B | 29 | |
| 2017-12-31 | 53 | $13.5B | 13 | |
| 2017-09-30 | 35 | $12.4B | 17 | |
| 2017-06-30 | 29 | $11.4B | 24 | |
| 2017-03-31 | 26 | $10.7B | 17 | |
| 2016-12-31 | 26 | $9.1B | 18 | |
| 2016-09-30 | 27 | $8.4B | 15 | |
| 2016-06-30 | 27 | $7.9B | 13 | |
| 2016-03-31 | 27 | $7.3B | 19 | |
| 2015-12-31 | 26 | $6.5B | 35 | |
| 2015-09-30 | 24 | $5.5B | 16 | |
| 2015-06-30 | 24 | $5.2B | 10 | |
| 2015-03-31 | 24 | $5.1B | 18 | |
| 2014-12-31 | 23 | $4.9B | 19 | |
| 2014-09-30 | 22 | $4.4B | 24 | |
| 2014-06-30 | 25 | $4.6B | 29 | |
| 2014-03-31 | 23 | $4.6B | 13 | |
| 2013-12-31 | 23 | $4.5B | 25 | |
| 2013-09-30 | 24 | $4.3B | 31 | |
| 2013-06-30 | 26 | $4.2B | 0 |
Polen Capital Management LLC's most significant position changes for 2026-03-31: New buy: Meta Platforms Inc-class A (META); New buy: Lam Research CORP (LRCX); New buy: Rollins INC (ROL); Sold out: ICON Public Limited Company (ICLR); Sold out: monday.com Ltd. (MNDY).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CSGP | Costar Group INC | +2.1% | +157.01% | Add |
| 2 | NOW | Servicenow INC | +1.5% | +27.97% | Add |
| 3 | NVDA | Nvidia CORP | +0.7% | -22.97% | Trim |
| 4 | SBUX | Starbucks CORP | +0.7% | -25.49% | Trim |
| 5 | AVGO | Broadcom INC | +0.6% | -23.62% | Trim |
| 6 | GOOG | Alphabet Inc-cl C | +0.5% | -26.67% | Trim |
| 7 | ZTS | Zoetis INC | +0.5% | -24.08% | Trim |
| 8 | AON | Aon plc | +0.2% | -26.66% | Trim |
| 9 | SHOP | Shopify INC - Class A | +0.2% | -12.43% | Trim |
| 10 | ABNB | Airbnb Inc-class A | +0.2% | -24.98% | Trim |
| 11 | MSCI | Msci INC | +0.2% | -30.17% | Trim |
| 12 | UBER | Uber Technologies INC | +0.2% | -18.17% | Trim |
| 13 | SPOT | Spotify Technology S.A. | +0.2% | +49.92% | Add |
| 14 | SNPS | Synopsys INC | +0.2% | -20.55% | Trim |
| 15 | MA | Mastercard INC - A | +0.1% | -27.69% | Trim |
| 16 | LLY | Eli Lilly & Co | +0.1% | -26.61% | Trim |
| 17 | ASML | ASML Holding N.V. | +0.1% | +43.56% | Add |
| 18 | V | Visa Inc-class A Shares | +0.1% | -27.54% | Trim |
| 19 | YOU | Clear Secure INC -class A | 0% | +271.01% | Add |
| 20 | MELI | Mercadolibre INC | — | -28.11% | Trim |
| 21 | NFLX | Netflix INC | 0% | -52.08% | Trim |
| 22 | VUG | Vanguard Growth ETF | 0% | -51.61% | Trim |
| 23 | ✓ | On Hldg AG | 0% | -54.73% | Trim |
| 24 | ACWX | Ishares Msci Acwi Ex US ETF | 0% | -79.74% | Trim |
| 25 | HDB | Hdfc Bank Ltd-adr | -0.1% | -93.48% | Trim |
| 26 | IDXX | Idexx Laboratories INC | -0.1% | -27.56% | Trim |
| 27 | ACWI | Ishares Msci Acwi ETF | -0.1% | -49.78% | Trim |
| 28 | ISRG | Intuitive Surgical INC | -0.1% | -27.98% | Trim |
| 29 | SAP | Sap Se-sponsored Adr | -0.2% | -71.43% | Trim |
| 30 | ACN | Accenture plc | -0.3% | -28.04% | Trim |
| 31 | IWF | Ishares Russell 1000 Growth | -0.4% | -47.58% | Trim |
| 32 | MSFT | Microsoft CORP | -0.8% | -27.21% | Trim |
| 33 | ORCL | Oracle CORP | -0.9% | -30.08% | Trim |
| 34 | PAYC | Paycom Software INC | -1.2% | -98.32% | Trim |
| 35 | BSX | Boston Scientific CORP | -1.4% | -85.58% | Trim |
| 36 | INTU | Intuit INC | -1.4% | -96.13% | Trim |
| 37 | ADBE | Adobe INC | -2% | -99.12% | Trim |
| 38 | ABT | Abbott Laboratories | -2.1% | -99.62% | Trim |
| 39 | AMZN | Amazon.com INC | -2.9% | -54.97% | Trim |
| 40 | META | Meta Platforms Inc-class A | — | NEW | New buy |
| 41 | LRCX | Lam Research CORP | — | NEW | New buy |
| 42 | ROL | Rollins INC | — | NEW | New buy |
| 43 | ICLR | ICON Public Limited Company | — | EXIT | Sold out |
| 44 | MNDY | monday.com Ltd. | — | EXIT | Sold out |
| 45 | IVV | Ishares Core S&p 500 ETF | — | EXIT | Sold out |
| 46 | DOCN | Digitalocean Holdings INC | — | NEW | New buy |
| 47 | FSLY | Fastly INC - Class A | — | NEW | New buy |
| 48 | GLOB | Globant S.A. | — | EXIT | Sold out |
| 49 | MCHI | Ishares Msci China ETF | — | NEW | New buy |
| 50 | EWT | Ishares Msci Taiwan ETF | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-12 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-12 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-12 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-10 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2025-02-10 | Amendment | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-12 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-10 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-05-10 | Amendment | View on EDGAR |
| 2023-12-31 | 2024-02-20 | Amendment | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-11 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-04 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-10 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-10 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-12 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-12 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-11 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-13 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-11 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-06 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-12 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-09 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-10 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-11 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-12 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-13 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-13 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-14 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-13 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-13 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-12 | 13F-HR | View on EDGAR |
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