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Asset manager

Polen Capital Management LLC

13F for the quarter to June 30, 2026, filed August 4, 2026 · SEC CIK 1034524

Reported value
$11.6bn
92% in companies we cover
Positions we cover
199
Largest LLY 6.9%
Copy, a year
+13.5%
S&P 500 +14.1%
Copy Sharpe ratio
0.65
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$53.5k
CopyS&P 500 $10,000 copying Polen Capital Management LLC's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −41.1% (S&P 500 −31.8%); beta 1.09; alpha −1.0% a year (t = −0.44); last 12 months −9.2% against +12.1%.

Reported value by quarter

Polen Capital Management LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $10T $20T $30T $40T Reported value, 2013-06-30: $4.2B Reported value, 2013-09-30: $4.3B Reported value, 2013-12-31: $4.5B Reported value, 2014-03-31: $4.6B Reported value, 2014-06-30: $4.6B Reported value, 2014-09-30: $4.4B Reported value, 2014-12-31: $4.9B Reported value, 2015-03-31: $5.1B Reported value, 2015-06-30: $5.2B Reported value, 2015-09-30: $5.5B Reported value, 2015-12-31: $6.5B Reported value, 2016-03-31: $7.3B Reported value, 2016-06-30: $7.9B Reported value, 2016-09-30: $8.4B Reported value, 2016-12-31: $9.1B Reported value, 2017-03-31: $10.7B Reported value, 2017-06-30: $11.4B Reported value, 2017-09-30: $12.4B Reported value, 2017-12-31: $13.5B Reported value, 2018-03-31: $14.1B Reported value, 2018-06-30: $15.6B Reported value, 2018-09-30: $17.6B Reported value, 2018-12-31: $15.3B Reported value, 2019-03-31: $19.1B Reported value, 2019-06-30: $20.6B Reported value, 2019-09-30: $21.7B Reported value, 2019-12-31: $25.4B Reported value, 2020-03-31: $23.1B Reported value, 2020-06-30: $33.1B Reported value, 2020-09-30: $37.4B Reported value, 2020-12-31: $43B Reported value, 2021-03-31: $44.5B Reported value, 2021-06-30: $52.2B Reported value, 2021-09-30: $54.5B Reported value, 2021-12-31: $59.5B Reported value, 2022-03-31: $51.2B Reported value, 2022-06-30: $37.9B Reported value, 2022-09-30: $35.7B Reported value, 2022-12-31: $34.2T Reported value, 2023-03-31: $37.9B Reported value, 2023-06-30: $40.3B Reported value, 2023-09-30: $38B Reported value, 2023-12-31: $41.5B Reported value, 2024-03-31: $43.3B Reported value, 2024-06-30: $39.9B Reported value, 2024-09-30: $38.7B Reported value, 2024-12-31: $37B Reported value, 2025-03-31: $31.8B Reported value, 2025-06-30: $32.6B Reported value, 2025-09-30: $30.8B Reported value, 2025-12-31: $23.4B Reported value, 2026-03-31: $14.5B Reported value, 2026-06-30: $11.6B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $11.6B
View chart data
Period Reported value
2013-06-30 $4.2B
2013-09-30 $4.3B
2013-12-31 $4.5B
2014-03-31 $4.6B
2014-06-30 $4.6B
2014-09-30 $4.4B
2014-12-31 $4.9B
2015-03-31 $5.1B
2015-06-30 $5.2B
2015-09-30 $5.5B
2015-12-31 $6.5B
2016-03-31 $7.3B
2016-06-30 $7.9B
2016-09-30 $8.4B
2016-12-31 $9.1B
2017-03-31 $10.7B
2017-06-30 $11.4B
2017-09-30 $12.4B
2017-12-31 $13.5B
2018-03-31 $14.1B
2018-06-30 $15.6B
2018-09-30 $17.6B
2018-12-31 $15.3B
2019-03-31 $19.1B
2019-06-30 $20.6B
2019-09-30 $21.7B
2019-12-31 $25.4B
2020-03-31 $23.1B
2020-06-30 $33.1B
2020-09-30 $37.4B
2020-12-31 $43B
2021-03-31 $44.5B
2021-06-30 $52.2B
2021-09-30 $54.5B
2021-12-31 $59.5B
2022-03-31 $51.2B
2022-06-30 $37.9B
2022-09-30 $35.7B
2022-12-31 $34.2T
2023-03-31 $37.9B
2023-06-30 $40.3B
2023-09-30 $38B
2023-12-31 $41.5B
2024-03-31 $43.3B
2024-06-30 $39.9B
2024-09-30 $38.7B
2024-12-31 $37B
2025-03-31 $31.8B
2025-06-30 $32.6B
2025-09-30 $30.8B
2025-12-31 $23.4B
2026-03-31 $14.5B
2026-06-30 $11.6B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
LLYLilly (Eli)6.89%$799.9m666.9K−27.1% Reduced
NVDANVIDIA Corporation6.86%$796.0m3.98M−3.1% Reduced
MSFTMicrosoft Corporation6.74%$782.8m2.10M−26.3% Reduced
AVGOBroadcom6.38%$740.5m1.96M−27.3% Reduced
AMZNAmazon5.77%$669.7m2.81M−27.9% Reduced
VVisa Inc.5.33%$619.5m1.81M−26.2% Reduced
MAMastercard5.05%$586.5m1.14M−25.9% Reduced
NOWServiceNow4.59%$533.2m5.37M−26.1% Reduced
ORCLOracle Corporation4.51%$523.8m3.57M−28.9% Reduced
SHOPShopify Inc.4.50%$522.7m4.58M−27.4% Reduced
MSCIMSCI3.24%$376.2m671.8K−27.7% Reduced
LRCXLam Research3.21%$372.2m859.0K−18.5% Reduced
SBUXStarbucks3.13%$362.9m3.55M−29.8% Reduced
IDXXIdexx Laboratories2.41%$280.3m532.4K−23.5% Reduced
GEGE Aerospace2.22%$258.1m690.5KNew
CSGPCoStar Group2.14%$248.1m8.76M−30.3% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD2.06%$239.4m501.2K+186.9% Added
ABNBAirbnb2.03%$236.1m1.65M−27.4% Reduced
GEVGE Vernova1.99%$231.0m196.6KNew
METAMeta Platforms1.60%$185.6m329.6K−30.9% Reduced
ISRGIntuitive Surgical1.53%$178.1m447.9K−26.2% Reduced
ATIATI Inc1.39%$161.5m819.2KNew
HWMHowmet Aerospace1.06%$122.9m457.1KNew
EMEEmcor0.74%$85.6m103.1KNew
ROLRollins, Inc.0.57%$66.4m1.59M−26.9% Reduced
AONAon plc0.47%$54.4m164.0K−87.9% Reduced
MELIMercadolibre Inc0.38%$44.0m25.9K−24.7% Reduced
UBERUber0.35%$41.1m570.1K−80.5% Reduced
SPOTSpotify Technology S.a.0.32%$37.5m81.6K−24.1% Reduced
ASMLAsml Holding NV0.26%$30.7m15.4K−4.0% Reduced
ZTSZoetis0.20%$23.0m320.4K−92.4% Reduced
ACNAccenture0.16%$19.0m152.8K−88.7% Reduced
SNPSSynopsys Inc0.16%$18.4m41.3K−93.9% Reduced
DOCNDigitalocean Holdings, Inc.0.14%$15.9m101.3K+5.3% Added
WULFTerawulf Inc.0.12%$13.9m563.1K+429.4% Added
BEBloom Energy0.11%$12.4m40.8K−39.3% Reduced
NUNu Holdings Ltd.0.09%$10.1m752.7K−38.2% Reduced
GOOGLAlphabet Inc. (Class A)0.09%$9.9m27.8K−1.4% Reduced
LASRNlight, Inc.0.08%$9.3m133.4K+48.6% Added
FROGJfrog Ltd0.07%$8.5m93.1K+360.1% Added
POWLPowell Industries Inc0.07%$8.4m29.2K+66.9% Added
AGXArgan Inc0.07%$8.2m10.2K−43.2% Reduced
MODModine Manufacturing Co0.07%$7.8m29.3K+1.0% Added
BKDBrookdale Senior Living Inc.0.06%$7.3m451.1K+7.3% Added
BWXTBWX Technologies, Inc.0.06%$7.2m37.0K−3.0% Reduced
CCJCameco Corp0.06%$7.0m69.0K+241.3% Added
VSECVSE Corp0.06%$6.8m29.9K−29.0% Reduced
SPHRSphere Entertainment Co.0.06%$6.7m38.5K−20.2% Reduced
SEISolaris Energy Infrastructure, Inc.0.06%$6.5m80.3K−4.0% Reduced
AMPXAmprius Technologies, Inc.0.06%$6.5m465.6K+10.3% Added
AEHRAehr Test Systems0.06%$6.4m66.2K−16.7% Reduced
DLODlocal Ltd0.05%$5.9m456.1K−0.6% Reduced
REALTherealreal, Inc.0.05%$5.9m496.6K+123.8% Added
TWSTTwist Bioscience Corp0.05%$5.7m55.3K+130.1% Added
VICRVicor Corp0.05%$5.7m14.9K+7.4% Added
IESCIES Holdings, Inc.0.05%$5.3m7.3K−39.1% Reduced
GHGuardant Health, Inc.0.04%$5.2m34.4K−1.0% Reduced
LPTHLightpath Technologies Inc0.04%$5.1m314.5K+297.8% Added
PLPlanet Labs PBC0.04%$4.9m149.2K−30.2% Reduced
VPGVishay Precision Group, Inc.0.04%$4.9m32.7K+35.0% Added
NFLXNetflix0.04%$4.9m68.1K−18.2% Reduced
RXTRackspace Technology, Inc.0.04%$4.6m709.2KNew
FTKFlotek Industries Inc0.04%$4.6m195.5K+607.3% Added
SAPSAP SE0.04%$4.4m28.8K−56.8% Reduced
CRSCarpenter Technology Corp0.04%$4.2m6.8K−45.7% Reduced
BFLYButterfly Network, Inc.0.04%$4.0m480.5K+18.3% Added
AXTIAXT Inc0.03%$3.8m52.7K+6.8% Added
TSLATesla, Inc.0.03%$3.8m9.0K+21.8% Added
APLDApplied Digital Corp.0.03%$3.7m98.3KNew
VECOVeeco Instruments Inc0.03%$3.7m48.3K+301.7% Added
BWBabcock & Wilcox Enterprises, Inc.0.03%$3.5m249.4K−8.1% Reduced
AZNAstrazeneca PLC0.03%$3.5m18.6K−28.5% Reduced
TMETencent Music Entertainment Group0.03%$3.4m407.2K−0.8% Reduced
AIRAAR Corp0.03%$3.4m23.6K+45.4% Added
WTWWillis Towers Watson0.03%$3.4m12.8K−33.8% Reduced
TSHATaysha Gene Therapies, Inc.0.03%$3.3m489.2K+53.0% Added
LINDLindblad Expeditions Holdings, Inc.0.03%$3.2m114.9K+12.5% Added
ATROAstronics Corp0.03%$3.2m39.4K−7.1% Reduced
LFUSLittelfuse Inc0.03%$3.2m7.0K+41.5% Added
ASTEAstec Industries Inc0.03%$3.2m52.2K+26.7% Added
LTHLife Time Group Holdings, Inc.0.03%$3.1m76.7K+89.5% Added
EVCEntravision Communications Corp0.03%$3.1m236.9KNew
TIGOMillicom International Cellular SA0.03%$3.0m33.6K−6.9% Reduced
JOBYJoby Aviation, Inc.0.03%$3.0m332.2K+12.7% Added
CDNLCardinal Infrastructure Group Inc.0.03%$2.9m30.8KNew
SRRKScholar Rock Holding Corp0.03%$2.9m52.1K+0.3%
AAOIApplied Optoelectronics, Inc.0.03%$2.9m19.3K+29.2% Added
PRLBProto Labs Inc0.03%$2.9m35.0K−6.9% Reduced
OPYOppenheimer Holdings Inc0.02%$2.8m26.8K−0.4%
PLPCPreformed Line Products Co0.02%$2.8m6.9K−6.3% Reduced
FPSForgent Power Solutions, Inc.0.02%$2.8m50.3KNew
DRTSAlpha Tau Medical Ltd.0.02%$2.8m220.8KNew
PTGXProtagonist Therapeutics, Inc0.02%$2.8m22.7K−6.9% Reduced
CALYCallaway Golf Co0.02%$2.7m146.0K+107.3% Added
PURRHyperliquid Strategies Inc0.02%$2.7m340.3K+448.8% Added
CAKECheesecake Factory Inc0.02%$2.6m33.3K+34.1% Added
ROADConstruction Partners, Inc.0.02%$2.6m22.3K−15.3% Reduced
WTWisdomtree, Inc.0.02%$2.5m149.1K+36.7% Added
FIVNFive9, Inc.0.02%$2.5m117.3KNew
CVNACarvana0.02%$2.5m37.5K+410.4% Added
MIRMMirum Pharmaceuticals, Inc.0.02%$2.4m20.9K+1.8% Added
PRAXPraxis Precision Medicines, Inc.0.02%$2.4m7.3K−27.8% Reduced
KNKnowles Corp0.02%$2.4m58.5KNew
VCTRVictory Capital Holdings, Inc.0.02%$2.4m28.2K−29.2% Reduced
MECMayville Engineering Company, Inc.0.02%$2.3m61.8KNew
RKLBRocket Lab Corp0.02%$2.3m22.8K−3.4% Reduced
SESea Ltd0.02%$2.2m23.1K−29.7% Reduced
ADPTAdaptive Biotechnologies Corp0.02%$2.2m102.5K−11.7% Reduced
NOVTNovanta Inc0.02%$2.2m13.4KNew
SMTCSemtech Corp0.02%$2.2m13.4K+103.8% Added
PENGPenguin Solutions, Inc.0.02%$2.2m28.3KNew
ONONOn Holding AG0.02%$2.1m58.7K−33.3% Reduced
AKTSAktis Oncology, Inc.0.02%$2.0m63.5KNew
BLLNBilliontoone, Inc.0.02%$2.0m17.0KNew
PTCTPTC Therapeutics, Inc.0.02%$2.0m24.9KNew
OUTOutfront Media Inc.0.02%$2.0m60.4K+17.4% Added
GHMGraham Corp0.02%$2.0m15.9K−11.0% Reduced
TVTXTravere Therapeutics, Inc.0.02%$1.9m34.3KNew
ESTAEstablishment Labs Holdings Inc.0.02%$1.9m22.5K−7.3% Reduced
WOLFWolfspeed, Inc.0.02%$1.8m38.2KNew
MAMAMama's Creations, Inc.0.01%$1.8m100.5K+53.6% Added
ADEAAdeia Inc.0.01%$1.7m52.6KNew
EROEro Copper Corp.0.01%$1.7m62.6K−10.8% Reduced
RHLDResolute Holdings Management, Inc.0.01%$1.7m11.5K−16.1% Reduced
ETONEton Pharmaceuticals, Inc.0.01%$1.6m45.4K+50.6% Added
CWCurtiss Wright Corp0.01%$1.6m2.1K+74.9% Added
RNGRingcentral, Inc.0.01%$1.6m40.1KNew
ADBEAdobe Inc.0.01%$1.6m7.6K−36.1% Reduced
FTITechnipFMC plc0.01%$1.5m22.2K−35.4% Reduced
ZGNErmenegildo Zegna N.V.0.01%$1.4m111.3KNew
CVLGCovenant Logistics Group, Inc.0.01%$1.4m31.9KNew
KODKodiak Sciences Inc.0.01%$1.4m35.5K−14.2% Reduced
AIRJAirjoule Technologies Corp.0.01%$1.3m243.4KNew
VELOVelo3d, Inc.0.01%$1.3m74.4K+21.1% Added
OPLNOpenlane, Inc.0.01%$1.3m31.0K−7.2% Reduced
BTDRBitdeer Technologies Group0.01%$1.3m79.5KNew
GRBKGreen Brick Partners, Inc.0.01%$1.2m15.2K+15.6% Added
SOFISoFi Technologies, Inc.0.01%$1.2m65.6K−36.5% Reduced
FNFabrinet0.01%$1.2m2.1K+8.1% Added
TWLOTwilio Inc0.01%$1.1m5.6K+105.8% Added
SPCXSpace Exploration Technologies Corp0.01%$1.1m6.7KNew
NESRNational Energy Services Reunited Corp.0.01%$1.1m38.3KNew
PRSUPursuit Attractions & Hospitality, Inc.0.01%$1.1m20.0KNew
OSCROscar Health, Inc.0.01%$1.1m38.7KNew
AXSMAxsome Therapeutics, Inc.0.01%$1.1m4.5K+111.2% Added
URGNUrogen Pharma Ltd.0.01%$1.1m29.6KNew
RXORXO, Inc.0.01%$1.0m37.4KNew
WYFIWhitefiber, Inc.0.01%$1.0m26.3KNew
WSCWillscot Holdings Corp0.01%$987,84934.2KNew
ADTNAdtran Holdings, Inc.0.01%$977,05970.3K−7.1% Reduced
CompanyBought (value)Shares
GEGE Aerospace$258.1m690.5K
GEVGE Vernova$231.0m196.6K
ATIATI Inc$161.5m819.2K
TSMTaiwan Semiconductor Manufacturing Co LTD$155.9m326.5K
HWMHowmet Aerospace$122.9m457.1K
EMEEmcor$85.6m103.1K
WULFTerawulf Inc.$11.3m456.8K
FROGJfrog Ltd$6.6m72.9K
CCJCameco Corp$5.0m48.8K
RXTRackspace Technology, Inc.$4.6m709.2K
FTKFlotek Industries Inc$3.9m167.9K
LPTHLightpath Technologies Inc$3.8m235.4K
APLDApplied Digital Corp.$3.7m98.3K
POWLPowell Industries Inc$3.3m11.7K
REALTherealreal, Inc.$3.2m274.7K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
AONAon plc−$394.7m−1.19M
LLYLilly (Eli)−$297.0m−247.6K
SNPSSynopsys Inc−$281.0m−630.0K
ZTSZoetis−$280.4m−3.90M
MSFTMicrosoft Corporation−$278.7m−747.3K
AVGOBroadcom−$278.5m−737.4K
AMZNAmazon−$259.0m−1.09M
VVisa Inc.−$219.6m−640.1K
ORCLOracle Corporation−$212.5m−1.45M
MAMastercard−$205.1m−399.4K
SHOPShopify Inc.−$197.4m−1.73M
NOWServiceNow−$188.6m−1.90M
UBERUber−$169.4m−2.35M
SBUXStarbucks−$153.8m−1.50M
ACNAccenture−$149.6m−1.20M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
INTUIntuit$8.6m19.9K
FSLYFastly, Inc.$6.9m238.5K
MDTMedtronic$5.3m60.7K
WGSGenedx Holdings Corp.$5.0m77.4K
PAYCPaycom Software, Inc.$3.7m30.8K
FIGRFigure Technology Solutions, Inc.$3.6m105.6K
KRMNKarman Holdings Inc.$3.5m44.1K
CAAPCorporacion America Airports S.a.$2.7m106.1K
KTOSKratos Defense & Security Solutions, Inc.$2.1m29.3K
IRMDIradimed Corp$2.0m20.7K
CELCCelcuity Inc.$2.0m17.2K
METCRamaco Resources, Inc.$1.8m119.6K
FIGSFigs, Inc.$1.8m121.4K
SHAKShake Shack Inc.$1.7m18.8K
AXAxos Financial, Inc.$1.4m16.8K
ESQEsquire Financial Holdings, Inc.$1.3m11.7K
DNLIDenali Therapeutics Inc.$1.3m65.3K
CRCLCircle Internet Group, Inc.$1.2m13.1K
IONQIonQ, Inc.$1.2m42.1K
IEIvanhoe Electric Inc.$1.1m97.2K
SIONSionna Therapeutics, Inc.$1.1m26.8K
STRLSterling Infrastructure, Inc.$1.0m2.6K
CPFCentral Pacific Financial Corp$1.0m32.3K
XMTRXometry, Inc.$1.0m24.6K
FLRFluor Corp$980,16321.0K
WINAWinmark Corp$976,0972.3K
HCIHCI Group, Inc.$944,0496.1K
LRNStride, Inc.$932,04510.6K
KTBKontoor Brands, Inc.$927,26613.2K
ARLOArlo Technologies, Inc.$834,93158.7K
  • Technology44.0%
  • Financials15.6%
  • Health Care12.6%
  • Consumer Discretionary12.2%
  • Industrials10.6%
  • Communication Services2.4%
  • Real Estate2.3%
  • Energy0.2%
  • Materials0.1%
  • Utilities0.0%
  • Consumer Staples0.0%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+13.5%+14.1%0.650.78−41.1%1.09
2018 onwardsJanuary 5, 2018 to November 2, 2026+11.1%+13.9%0.460.66−41.1%1.10
Last three yearsNovember 3, 2023 to November 2, 2026+8.3%+21.8%0.281.16−23.8%1.09
Last yearNovember 7, 2025 to November 2, 2026−6.4%+14.2%−0.430.84−20.8%1.24

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.