# Polen Capital Management portfolio: Q2 2026 13F holdings

Dan Davidowitz and Damon Ficklin’s Polen Capital Management: $12bn in 215 US holdings at Q2 2026, with buys and sells.

In Q2 2026, Polen Capital Management held 215 US-listed stocks worth $12bn. Its biggest move was cutting Zoetis (92% fewer shares, now 0.2%), followed by cutting Aon (88% fewer shares, now 0.5%). It started 66 new positions and sold out of 70. Its largest holding is Eli Lilly & Co at 6.9%.

13F for the quarter ending 2026-06-30, filed 2026-08-04 ([filing](https://www.sec.gov/Archives/edgar/data/1034524/000117266126003035/0001172661-26-003035-index.htm)). $12bn in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| Eli Lilly & Co (LLY) | $800m | 6.9% | Trimmed -27% | 5.8% |
| NVIDIA (NVDA) | $796m | 6.9% | Trimmed -3.1% | 5.0% |
| Microsoft (MSFT) | $783m | 6.7% | Trimmed -26% | 7.3% |
| Alphabet (GOOG) | $775m | 6.7% | Trimmed -26% | 5.9% |
| Broadcom (AVGO) | $740m | 6.4% | Trimmed -27% | 5.8% |
| Amazon.com (AMZN) | $670m | 5.8% | Trimmed -28% | 5.6% |
| Visa (V) | $619m | 5.3% | Trimmed -26% | 5.1% |
| Mastercard (MA) | $587m | 5.0% | Trimmed -26% | 5.3% |
| ServiceNow (NOW) | $533m | 4.6% | Trimmed -26% | 5.3% |
| Oracle (ORCL) | $524m | 4.5% | Trimmed -29% | 5.1% |
| Shopify (SHOP) | $523m | 4.5% | Trimmed -27% | 5.2% |
| MSCI (MSCI) | $376m | 3.2% | Trimmed -28% | 3.5% |
| Lam Research (LRCX) | $372m | 3.2% | Trimmed -18% | 1.6% |
| Starbucks (SBUX) | $363m | 3.1% | Trimmed -30% | 3.1% |
| IDEXX Laboratories (IDXX) | $280m | 2.4% | Trimmed -23% | 2.7% |
| GE Aerospace (GE) | $258m | 2.2% | New | – |
| CoStar Group (CSGP) | $248m | 2.1% | Trimmed -30% | 3.5% |
| Taiwan Semiconductor Manufacturing (TSM) | $239m | 2.1% | Added +187% | 0.4% |
| Airbnb (ABNB) | $236m | 2.0% | Trimmed -27% | 2.0% |
| Ge Vernova (GEV) | $231m | 2.0% | New | – |
| Meta Platforms (META) | $186m | 1.6% | Trimmed -31% | 1.9% |
| Intuitive Surgical (ISRG) | $178m | 1.5% | Trimmed -26% | 1.9% |
| ATI (ATI) | $161m | 1.4% | New | – |
| Howmet Aerospace (HWM) | $123m | 1.1% | New | – |
| EMCOR Group (EME) | $85.6m | 0.7% | New | – |
| Ishares Tr (EFA) | $76.6m | 0.7% | Added +52% | 1.2% |
| Rollins (ROL) | $66.4m | 0.6% | Trimmed -27% | 0.8% |
| Aon (AON) | $54.4m | 0.5% | Trimmed -88% | 3.0% |
| MercadoLibre (MELI) | $44.0m | 0.4% | Trimmed -25% | 0.4% |
| Uber Technologies (UBER) | $41.1m | 0.3% | Trimmed -80% | 1.4% |
| Spotify Technology (SPOT) | $37.5m | 0.3% | Trimmed -24% | 0.4% |
| ASML Holding (ASML) | $30.7m | 0.3% | Trimmed -4.0% | 0.1% |
| Zoetis (ZTS) | $23.0m | 0.2% | Trimmed -92% | 3.5% |
| Ishares Tr (ACWI) | $21.0m | 0.2% | Trimmed -55% | 0.3% |
| Accenture (ACN) | $19.0m | 0.2% | Trimmed -89% | 1.9% |
| Synopsys (SNPS) | $18.4m | 0.2% | Trimmed -94% | 1.8% |
| Digitalocean Holdings (DOCN) | $15.9m | 0.1% | Added +5.3% | 0.1% |
| Terawulf (WULF) | $13.9m | 0.1% | Added +429% | 0.0% |
| Ceco Environmental (CECO) | $12.5m | 0.1% | Trimmed -3.7% | 0.1% |
| Bloom Energy (BE) | $12.4m | 0.1% | Trimmed -39% | 0.1% |
| Bel Fuse (BELFB) | $10.9m | 0.1% | Trimmed -24% | 0.1% |
| NU Holdings Ltd/Cayman Islands (NU) | $10.1m | 0.1% | Trimmed -38% | 0.1% |
| Nlight (LASR) | $9.3m | 0.1% | Added +49% | 0.0% |
| Jfrog (FROG) | $8.5m | 0.1% | Added +360% | 0.0% |
| Powell Industries (POWL) | $8.4m | 0.1% | Trimmed -44% | 0.1% |
| Argan (AGX) | $8.2m | 0.1% | Trimmed -43% | 0.1% |
| Modine Manufacturing (MOD) | $7.8m | 0.1% | Added +1.0% | 0.0% |
| Vanguard Index Fds (VOO) | $7.3m | 0.1% | Added +366% | 0.1% |
| Clear Secure (YOU) | $7.3m | 0.1% | Trimmed -9.7% | 0.1% |
| Brookdale Senior Living (BKD) | $7.3m | 0.1% | Added +7.3% | 0.0% |
| BWX Technologies (BWXT) | $7.2m | 0.1% | Trimmed -3.0% | 0.1% |
| Cameco (CCJ) | $7.0m | 0.1% | Added +241% | 0.0% |
| Vse (VSEC) | $6.8m | 0.1% | Trimmed -29% | 0.1% |
| Sphere Entertainment (SPHR) | $6.7m | 0.1% | Trimmed -20% | 0.0% |
| Solaris Energy Infrastructure (SEI) | $6.5m | 0.1% | Trimmed -4.0% | 0.0% |
| Amprius Technologies (AMPX) | $6.5m | 0.1% | Added +10% | 0.1% |
| Aehr Test Systems (AEHR) | $6.4m | 0.1% | Trimmed -17% | 0.0% |
| Dlocal (DLO) | $5.9m | 0.1% | Trimmed -0.6% | 0.0% |
| Realreal (REAL) | $5.9m | 0.1% | Added +124% | 0.0% |
| Twist Bioscience (TWST) | $5.7m | 0.1% | Added +130% | 0.0% |
| Vicor (VICR) | $5.7m | 0.1% | Added +7.4% | 0.0% |
| Ies Holdings (IESC) | $5.3m | 0.1% | Trimmed -39% | 0.0% |
| Guardant Health (GH) | $5.2m | 0.0% | Trimmed -1.0% | 0.0% |
| Lightpath Technologies (LPTH) | $5.1m | 0.0% | Added +298% | 0.0% |
| Planet Labs Pbc (PL) | $4.9m | 0.0% | Trimmed -30% | 0.0% |
| Vishay Precision Group (VPG) | $4.9m | 0.0% | Added +35% | 0.0% |
| Netflix (NFLX) | $4.9m | 0.0% | Trimmed -18% | 0.1% |
| Rackspace Technology (RXT) | $4.6m | 0.0% | New | – |
| Flotek Industries (FTK) | $4.6m | 0.0% | Added +607% | 0.0% |
| SAP (SAP) | $4.4m | 0.0% | Trimmed -57% | 0.1% |
| Carpenter Technology (CRS) | $4.2m | 0.0% | Trimmed -46% | 0.0% |
| Sitime (SITM) | $4.1m | 0.0% | Trimmed -22% | 0.0% |
| Butterfly Network (BFLY) | $4.0m | 0.0% | Added +18% | 0.0% |
| Axt (AXTI) | $3.8m | 0.0% | Added +6.8% | 0.0% |
| Tesla (TSLA) | $3.8m | 0.0% | Added +22% | 0.0% |
| Applied Digital (APLD) | $3.7m | 0.0% | New | – |
| Veeco Instruments (VECO) | $3.7m | 0.0% | Added +302% | 0.0% |
| Babcock & Wilcox Enterprises (BW) | $3.5m | 0.0% | Trimmed -8.1% | 0.0% |
| Astrazeneca (AZN) | $3.5m | 0.0% | Trimmed -28% | 0.0% |
| Tencent Music Entertainment Group (TME) | $3.4m | 0.0% | Trimmed -0.8% | 0.0% |
| Aar (AIR) | $3.4m | 0.0% | Added +45% | 0.0% |
| Willis Towers Watson (WTW) | $3.4m | 0.0% | Trimmed -34% | 0.0% |
| Taysha Gene Therapies (TSHA) | $3.3m | 0.0% | Added +53% | 0.0% |
| Lindblad Expeditions Holdings (LIND) | $3.2m | 0.0% | Added +13% | 0.0% |
| Astronics (ATRO) | $3.2m | 0.0% | Trimmed -7.1% | 0.0% |
| Littelfuse (LFUS) | $3.2m | 0.0% | Added +42% | 0.0% |
| Astec Industries (ASTE) | $3.2m | 0.0% | Added +27% | 0.0% |
| Life Time Group Holdings (LTH) | $3.1m | 0.0% | Added +90% | 0.0% |
| Entravision Communications C (EVC) | $3.1m | 0.0% | New | – |
| Millicom International Cellular (TIGO) | $3.0m | 0.0% | Trimmed -6.9% | 0.0% |
| Spdr S&P 500 Etf Trust (SPY) | $3.0m | 0.0% | Added +6.9% | 0.0% |
| Joby Aviation (JOBY) | $3.0m | 0.0% | Added +13% | 0.0% |
| Copa Holdings (CPA) | $2.9m | 0.0% | New | – |
| Cardinal Infrastructure Group (CDNL) | $2.9m | 0.0% | New | – |
| Scholar Rock Holding (SRRK) | $2.9m | 0.0% | Added +0.3% | 0.0% |
| Applied Optoelectronics (AAOI) | $2.9m | 0.0% | Added +29% | 0.0% |
| Proto Labs (PRLB) | $2.9m | 0.0% | Trimmed -6.9% | 0.0% |
| Oppenheimer Holdings (OPY) | $2.8m | 0.0% | Trimmed -0.4% | 0.0% |
| Preformed Line Products (PLPC) | $2.8m | 0.0% | Trimmed -6.3% | 0.0% |
| Forgent Power Solutions (FPS) | $2.8m | 0.0% | New | – |
| Alpha Tau Medical (DRTS) | $2.8m | 0.0% | New | – |
| Protagonist Therapeutics (PTGX) | $2.8m | 0.0% | Trimmed -6.9% | 0.0% |
| Callaway Golf (CALY) | $2.7m | 0.0% | Added +107% | 0.0% |
| AZZ (AZZ) | $2.7m | 0.0% | Added +20% | 0.0% |
| Hyperliquid Strategies (PURR) | $2.7m | 0.0% | Added +449% | 0.0% |
| Cheesecake Factory (CAKE) | $2.6m | 0.0% | Added +34% | 0.0% |
| Construction Partners (ROAD) | $2.6m | 0.0% | Trimmed -15% | 0.0% |
| Wisdomtree (WT) | $2.5m | 0.0% | Added +37% | 0.0% |
| Five9 (FIVN) | $2.5m | 0.0% | New | – |
| Carvana (CVNA) | $2.5m | 0.0% | Added +410% | 0.0% |
| Mirum Pharmaceuticals (MIRM) | $2.4m | 0.0% | Added +1.8% | 0.0% |
| Praxis Precision Medicines (PRAX) | $2.4m | 0.0% | Trimmed -28% | 0.0% |
| Knowles (KN) | $2.4m | 0.0% | New | – |
| Victory Capital Holdings (VCTR) | $2.4m | 0.0% | Trimmed -29% | 0.0% |
| Mayville Engineering (MEC) | $2.3m | 0.0% | New | – |
| Rocket Lab (RKLB) | $2.3m | 0.0% | Trimmed -3.4% | 0.0% |
| Sea (SE) | $2.2m | 0.0% | Trimmed -30% | 0.0% |
| Adaptive Biotechnologies Cor (ADPT) | $2.2m | 0.0% | Trimmed -12% | 0.0% |
| Novanta (NOVT) | $2.2m | 0.0% | New | – |
| Semtech (SMTC) | $2.2m | 0.0% | Added +104% | 0.0% |
| Penguin Solutions (PENG) | $2.2m | 0.0% | New | – |
| On Holding (ONON) | $2.1m | 0.0% | Trimmed -33% | 0.0% |
| Aktis Oncology (AKTS) | $2.0m | 0.0% | New | – |
| Billiontoone (BLLN) | $2.0m | 0.0% | New | – |
| Ptc Therapeutics (PTCT) | $2.0m | 0.0% | New | – |
| Outfront Media (OUT) | $2.0m | 0.0% | Added +17% | 0.0% |
| Graham (GHM) | $2.0m | 0.0% | Trimmed -11% | 0.0% |
| Travere Therapeutics (TVTX) | $1.9m | 0.0% | New | – |
| Establishment Labs Holdings (ESTA) | $1.9m | 0.0% | Trimmed -7.3% | 0.0% |
| Wolfspeed (WOLF) | $1.8m | 0.0% | New | – |
| Mama’s Creations (MAMA) | $1.8m | 0.0% | Added +54% | 0.0% |
| Adeia (ADEA) | $1.7m | 0.0% | New | – |
| ERO Copper (ERO) | $1.7m | 0.0% | Trimmed -11% | 0.0% |
| Resolute Holdings Management (RHLD) | $1.7m | 0.0% | Trimmed -16% | 0.0% |
| Eton Pharmaceuticals (ETON) | $1.6m | 0.0% | Added +51% | 0.0% |
| Curtiss Wright (CW) | $1.6m | 0.0% | Added +75% | 0.0% |
| Ringcentral (RNG) | $1.6m | 0.0% | New | – |
| Adobe (ADBE) | $1.6m | 0.0% | Trimmed -36% | 0.0% |
| Technipfmc (FTI) | $1.5m | 0.0% | Trimmed -35% | 0.0% |
| Ermenegildo Zegna (ZGN) | $1.4m | 0.0% | New | – |
| Covenant Logistics Group (CVLG) | $1.4m | 0.0% | New | – |
| Kodiak Sciences (KOD) | $1.4m | 0.0% | Trimmed -14% | 0.0% |
| Airjoule Technologies (AIRJ) | $1.3m | 0.0% | New | – |
| Velo3d (VELO) | $1.3m | 0.0% | Added +21% | 0.0% |
| Openlane (OPLN) | $1.3m | 0.0% | Trimmed -7.2% | 0.0% |
| Bitdeer Technologies Group (BTDR) | $1.3m | 0.0% | New | – |
| Green Brick Partners (GRBK) | $1.2m | 0.0% | Added +16% | 0.0% |
| Vanguard International Equity Index F (VT) | $1.2m | 0.0% | Added +17% | 0.0% |
| Sofi Technologies (SOFI) | $1.2m | 0.0% | Trimmed -36% | 0.0% |
| Fabrinet (FN) | $1.2m | 0.0% | Added +8.1% | 0.0% |
| Twilio (TWLO) | $1.1m | 0.0% | Added +106% | 0.0% |
| Space Exploration Technologies (SPCX) | $1.1m | 0.0% | New | – |
| National Energy Services Reunited (NESR) | $1.1m | 0.0% | New | – |
| Viad (PRSU) | $1.1m | 0.0% | New | – |
| ICICI Bank (IBN) | $1.1m | 0.0% | Trimmed -68% | 0.0% |
| Oscar Health (OSCR) | $1.1m | 0.0% | New | – |
| Axsome Therapeutics (AXSM) | $1.1m | 0.0% | Added +111% | 0.0% |
| Urogen Pharma (URGN) | $1.1m | 0.0% | New | – |
| Global X Fds (CATH) | $1.1m | 0.0% | Trimmed -37% | 0.0% |
| RXO (RXO) | $1.0m | 0.0% | New | – |
| Whitefiber (WYFI) | $1.0m | 0.0% | New | – |
| Willscot Holdings (WSC) | $988k | 0.0% | New | – |
| Adtran Holdings (ADTN) | $977k | 0.0% | Trimmed -7.1% | 0.0% |
| Embraer (EMBJ) | $938k | 0.0% | Added +61% | 0.0% |
| Asp Isotopes (ASPI) | $930k | 0.0% | Added +22% | 0.0% |
| Dianthus Therapeutics (DNTH) | $910k | 0.0% | Added +127% | 0.0% |
| China Yuchai International (CYD) | $908k | 0.0% | New | – |
| Apple (AAPL) | $837k | 0.0% | Trimmed -29% | 0.0% |
| Churchill Capital Corp Xi (CCXI) | $796k | 0.0% | New | – |
| El Pollo Loco Holdings (LOCO) | $787k | 0.0% | Added +254% | 0.0% |
| Macom Technologies Solutions Holdings (MTSI) | $779k | 0.0% | Added +93% | 0.0% |
| American Public Education (APEI) | $750k | 0.0% | Trimmed -1.1% | 0.0% |
| Affirm Holdings (AFRM) | $731k | 0.0% | Added +88% | 0.0% |
| United Airlines Holdings (UAL) | $718k | 0.0% | New | – |
| Mitek Systems (MITK) | $715k | 0.0% | Added +34% | 0.0% |
| XPO Logistics (XPO) | $697k | 0.0% | New | – |
| Glaukos (GKOS) | $673k | 0.0% | New | – |
| Camtek (CAMT) | $671k | 0.0% | New | – |
| Sharkninja (SN) | $631k | 0.0% | Added +66% | 0.0% |
| Nexgen Energy (NXE) | $588k | 0.0% | Trimmed -47% | 0.0% |
| Formfactor (FORM) | $574k | 0.0% | New | – |
| Talen Energy (TLN) | $566k | 0.0% | Added +116% | 0.0% |
| Advanced Energy Industries (AEIS) | $560k | 0.0% | New | – |
| Vista Energy S.a.b. de C.v. (VIST) | $541k | 0.0% | Added +164% | 0.0% |
| Arrowhead Pharmaceuticals (ARWR) | $539k | 0.0% | New | – |
| Integra Resources (ITRG) | $535k | 0.0% | New | – |
| Lattice Semiconductor (LSCC) | $532k | 0.0% | New | – |
| Thredup (TDUP) | $516k | 0.0% | New | – |
| Rubrik (RBRK) | $498k | 0.0% | New | – |
| Descartes Systems Group (DSGX) | $484k | 0.0% | New | – |
| Eikon Therapeutics (EIKN) | $466k | 0.0% | New | – |
| Franklin Resources (BEN) | $458k | 0.0% | New | – |
| Jazz Pharmaceuticals (JAZZ) | $448k | 0.0% | New | – |
| Natera (NTRA) | $442k | 0.0% | Added +28% | 0.0% |
| Sandisk (SNDK) | $439k | 0.0% | Trimmed -57% | 0.0% |
| Ooma (OOMA) | $404k | 0.0% | New | – |
| Ftai Aviation (FTAI) | $380k | 0.0% | Trimmed -20% | 0.0% |
| Mercury Systems (MRCY) | $355k | 0.0% | New | – |
| Alliance Laundry Holdings (ALH) | $330k | 0.0% | New | – |
| Mueller Industries (MLI) | $318k | 0.0% | Trimmed -6.6% | 0.0% |
| Roivant Sciences (ROIV) | $306k | 0.0% | New | – |
| Everpure (P) | $302k | 0.0% | New | – |
| Bridgebio Pharma (BBIO) | $298k | 0.0% | Trimmed -91% | 0.0% |
| Abbott Laboratories (ABT) | $286k | 0.0% | Trimmed -79% | 0.0% |
| Millerknoll (MLKN) | $255k | 0.0% | Trimmed -53% | 0.0% |
| Fidelity Covington Trust (FREL) | $254k | 0.0% | New | – |
| Marinemax (HZO) | $247k | 0.0% | New | – |
| Advanced Micro Devices (AMD) | $242k | 0.0% | New | – |
| Sanmina (SANM) | $224k | 0.0% | New | – |
| Etsy (ETSY) | $224k | 0.0% | New | – |
| Wayfair (W) | $222k | 0.0% | Trimmed -93% | 0.0% |
| Reinvent Technology Partners (AUROW) | $222k | 0.0% | New | – |
| Backblaze (BLZE) | $210k | 0.0% | New | – |
| Lumentum Holdings (LITE) | $209k | 0.0% | New | – |
| Boston Scientific (BSX) | $203k | 0.0% | Trimmed -99% | 0.3% |
| Intuit (INTU) | – | – | Sold out | 0.1% |
| Fastly (FSLY) | – | – | Sold out | 0.1% |
| Medtronic (MDT) | – | – | Sold out | 0.0% |
| Ishares (IEMG) | – | – | Sold out | 0.0% |
| Ishares Tr (INDA) | – | – | Sold out | 0.0% |
| Paycom Software (PAYC) | – | – | Sold out | 0.0% |
| Genedx Holdings (WGS) | – | – | Sold out | 0.0% |
| Karman Holdings (KRMN) | – | – | Sold out | 0.0% |
| Corporacion America Airports (CAAP) | – | – | Sold out | 0.0% |
| Figure Technology Solutions (FIGR) | – | – | Sold out | 0.0% |
| Ishares Tr (SGOV) | – | – | Sold out | 0.0% |
| Esquire Financial Holdings (ESQ) | – | – | Sold out | 0.0% |
| Firefly Aerospace (FLY) | – | – | Sold out | 0.0% |
| Blacksky Technology (BKSY) | – | – | Sold out | 0.0% |
| Shake Shack (SHAK) | – | – | Sold out | 0.0% |
| Denali Therapeutics (DNLI) | – | – | Sold out | 0.0% |
| Figs (FIGS) | – | – | Sold out | 0.0% |
| Circle Internet Group (CRCL) | – | – | Sold out | 0.0% |
| Central Pacific Financial (CPF) | – | – | Sold out | 0.0% |
| Fluor (FLR) | – | – | Sold out | 0.0% |
| Sterling Infrastructure (STRL) | – | – | Sold out | 0.0% |
| HCI Group (HCI) | – | – | Sold out | 0.0% |
| Sionna Therapeutics (SION) | – | – | Sold out | 0.0% |
| Ionq (IONQ) | – | – | Sold out | 0.0% |
| Arlo Technologies (ARLO) | – | – | Sold out | 0.0% |
| Ivanhoe Electric (IE) | – | – | Sold out | 0.0% |
| Iradimed (IRMD) | – | – | Sold out | 0.0% |
| Transmedics Group (TMDX) | – | – | Sold out | 0.0% |
| Winmark (WINA) | – | – | Sold out | 0.0% |
| Irsa Inversiones y Rep SA (IRS) | – | – | Sold out | 0.0% |
| Nuvalent (NUVL) | – | – | Sold out | 0.0% |
| Axos Financial (AX) | – | – | Sold out | 0.0% |
| Kontoor Brands (KTB) | – | – | Sold out | 0.0% |
| Kratos Defense & Security Solutions (KTOS) | – | – | Sold out | 0.0% |
| Celcuity (CELC) | – | – | Sold out | 0.0% |
| Xometry (XMTR) | – | – | Sold out | 0.0% |
| Ramaco Resources (METCB) | – | – | Sold out | 0.0% |
| Stride (LRN) | – | – | Sold out | 0.0% |
| Cantor Equity Partners II | – | – | Sold out | 0.0% |
| Spdr Series Trust (BIL) | – | – | Sold out | 0.0% |
| Opendoor Technologies (OPEN) | – | – | Sold out | 0.0% |
| Clear Channel Outdoor Holdings (CCO) | – | – | Sold out | 0.0% |
| Deluxe (DLX) | – | – | Sold out | 0.0% |
| Once Upon A Farm Pbc (OFRM) | – | – | Sold out | 0.0% |
| Manitowoc (MTW) | – | – | Sold out | 0.0% |
| Alto Neuroscience (ANRO) | – | – | Sold out | 0.0% |
| Salesforce (CRM) | – | – | Sold out | 0.0% |
| Skywater Technology (SKYT) | – | – | Sold out | 0.0% |
| Nuscale Power (SMR) | – | – | Sold out | 0.0% |
| Ascendis Pharma | – | – | Sold out | 0.0% |
| Ani Pharmaceuticals (ANIP) | – | – | Sold out | 0.0% |
| Better Home & Finance Holding (BETR) | – | – | Sold out | 0.0% |
| Dave (DAVE) | – | – | Sold out | 0.0% |
| First Solar (FSLR) | – | – | Sold out | 0.0% |
| QXO (QXO) | – | – | Sold out | 0.0% |
| Annexon (ANNX) | – | – | Sold out | 0.0% |
| Lemonade (LMND) | – | – | Sold out | 0.0% |
| Grupo Financiero Galicia (GGAL) | – | – | Sold out | 0.0% |
| HDFC Bank (HDB) | – | – | Sold out | 0.0% |
| Central Puerto SA (CEPU) | – | – | Sold out | 0.0% |
| Bristow Group (VTOL) | – | – | Sold out | 0.0% |
| Thermon Group Holdings (8TG) | – | – | Sold out | 0.0% |
| Gpgi (GPGI) | – | – | Sold out | 0.0% |
| Gartner (IT) | – | – | Sold out | 0.0% |
| Alcoa (AA) | – | – | Sold out | 0.0% |
| SES Ai (SES) | – | – | Sold out | 0.0% |
| Phibro Animal Health (PAHC) | – | – | Sold out | 0.0% |
| Mirion Technologies (MIR) | – | – | Sold out | 0.0% |
| Nautilus Biotechnology (NAUT) | – | – | Sold out | 0.0% |
| Orion Group Holdings (ORN) | – | – | Sold out | 0.0% |

## Polen Global Growth Fund (as at 2026-07-31)

| Company | Country | Fund weight | Change |
| --- | --- | --- | --- |
| Alphabet (GOOG) | US | 6.7% | Trimmed -24% |
| NVIDIA (NVDA) | US | 5.5% | Trimmed -43% |
| Microsoft (MSFT) | US | 5.5% | Trimmed -24% |
| Visa (V) | US | 5.1% | Trimmed -24% |
| Taiwan Semiconductor Manufacturing (2330) | TW | 5.1% | Trimmed -23% |
| Mastercard (MA) | US | 4.8% | Trimmed -24% |
| Eli Lilly & Co (LLY) | US | 4.7% | Trimmed -25% |
| Amazon.com (AMZN) | US | 4.6% | Trimmed -24% |
| Tencent Holdings (700) | KY | 3.7% | Trimmed -23% |
| Broadcom (AVGO) | US | 3.7% | Trimmed -51% |
| GE Aerospace (GE) | US | 3.2% | Added +46% |
| ServiceNow (NOW) | US | 3.1% | Trimmed -24% |
| Shopify (SHOP) | CA | 2.9% | Trimmed -45% |
| Siemens Energy (ENR) | DE | 2.8% | Trimmed -24% |
| MercadoLibre (MELI) | US | 2.6% | Trimmed -23% |
| Spotify Technology (SPOT) | LU | 2.5% | Trimmed -24% |
| Aon (AON) | IE | 2.4% | Trimmed -62% |
| ASML Holding (ASML) | NL | 2.3% | Trimmed -26% |
| L'Oreal (OR) | FR | 2.2% | Trimmed -23% |
| MSCI (MSCI) | US | 2.1% | Trimmed -24% |
| Adyen (ADYEN) | NL | 2.1% | Trimmed -24% |
| IDEXX Laboratories (IDXX) | US | 2.1% | Added +12% |
| Seagate Technology Holdings (STX) | IE | 2.0% | New |
| Advanced Micro Devices (AMD) | US | 1.9% | New |
| Tokyo Electron (8035) | JP | 1.9% | Trimmed -24% |
| Ge Vernova (GEV) | US | 1.9% | New |
| Meta Platforms (META) | US | 1.7% | Trimmed -22% |
| Uber Technologies (UBER) | US | 1.6% | Trimmed -22% |
| Keyence (6861) | JP | 1.5% | New |
| Starbucks (SBUX) | US | 1.3% | Trimmed -23% |
| Hermes International (RMS) | FR | 1.2% | Trimmed -24% |
| CoStar Group (CSGP) | US | 1.2% | Trimmed -24% |
| Howmet Aerospace (HWM) | US | 1.1% | New |
| Rheinmetall (RHM) | DE | 0.9% | New |
| Oracle (ORCL) | US | 0.9% | Trimmed -57% |
| null |  | – | Sold out |
| null |  | – | Sold out |

## Polen International Growth Fund (as at 2026-07-31)

| Company | Country | Fund weight | Change |
| --- | --- | --- | --- |
| MercadoLibre (MELI) | US | 6.4% | Trimmed -23% |
| Spotify Technology (SPOT) | LU | 6.1% | Trimmed -10% |
| Schneider Electric (SU) | FR | 5.9% | Trimmed -19% |
| ASML Holding (ASML) | NL | 5.5% | Trimmed -48% |
| Shopify (SHOP) | CA | 5.2% | Added +0.8% |
| Lonza Group (LONN) | CH | 5.0% | Trimmed -17% |
| Tencent Holdings (700) | KY | 5.0% | Added +23% |
| Aon (AON) | IE | 3.8% | Trimmed -23% |
| Tokyo Electron (8035) | JP | 3.7% | Trimmed -57% |
| ASM International (ASM) | NL | 3.6% | Trimmed -22% |
| AIA Group (1299) | HK | 3.6% | Trimmed -10% |
| Sage Group (SGE) | GB | 3.5% | Trimmed -23% |
| SAP (SAP) | DE | 3.5% | Trimmed -41% |
| Adyen (ADYEN) | NL | 3.4% | Added +12% |
| Keyence (6861) | JP | 3.0% | Added +77% |
| AstraZeneca (AZN) | GB | 2.9% | Trimmed -16% |
| Disco (6146) | JP | 2.8% | Trimmed -8.9% |
| Taiwan Semiconductor Manufacturing (TSM) | TW | 2.6% | Trimmed -23% |
| Willis Towers Watson (WTW) | IE | 2.6% | Trimmed -22% |
| Seagate Technology Holdings (STX) | IE | 2.5% | New |
| Samsung Electronics (005930) | KR | 2.4% | Trimmed -21% |
| Mitsubishi Heavy Industries Lt (7011) | JP | 2.2% | Added +5.7% |
| NU Holdings Ltd/Cayman Islands (NU) | KY | 2.2% | Trimmed -55% |
| Siemens Energy (ENR) | DE | 2.1% | Added +69% |
| Saab (SAABB) | SE | 1.9% | Trimmed -7.5% |
| Capcom (9697) | JP | 1.5% | New |
| Sea (SE) | KY | 1.4% | Trimmed -20% |
| Rheinmetall (RHM) | DE | 1.4% | Trimmed -0.8% |
| ICICI Bank (ICICIBC) | IN | 0.8% | Trimmed -66% |
| null |  | – | Sold out |
| null |  | – | Sold out |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/polen-capital-management). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.