Investor profile

Polen Capital

Polen Capital Management · Long-term quality growth · Net worth: —

Founded in 1979 by David Polen. One of the most disciplined large-cap quality growth managers — runs a 20-30 stock portfolio with decades-long holding periods. Their Focus Growth strategy has delivered market-beating returns for 25+ years.

"Concentrated quality growth. 20-30 names only. Hold forever."

Today — 2026-04-21

All movers →

Portfolio day:+5.54%

Biggest winner:NOW +18.05%

Biggest loser:MA +0.15%

Positions: Q4 2025 13F · Prices: EOD 2026-04-21

Latest 13F: Q4 2025(74d ago)Next due: Q1 2026by 2026-05-15● RSS — move alerts

Tracked positions

Top concentration

58%

Longest holding

Microsoft (since 2011)

Concentration profile

Diversified

Top 1 · AMZN

8.5%

Top 5 combined

33.7%

Top 10 combined

58.3%

Tracked positions

AMZNTop-5 zoneTop-10

Polen's single largest bet is AMZN at 8.5% of tracked positions. Exposure is spread across a broader basket, reducing single-name risk.

Realized 10-year track record

Polen Focus Growth strategy

See leaderboard →

10y CAGR

14.3%

net of fees

Alpha vs S&P

+1.2%

vs 13.1% benchmark

Win rate

60%

years beating S&P

Quality score

5.6

computed 0–10

Best year

+38%

Worst year

-39%

Cumulative 10y

3.8×

Volatility

22%

Recent moves

Manager quality score: 5.6/10

Every tracked 13F move — buys, adds, trims, and exits — over the last two quarters.

Q4 2025

18 buys · 73 sells

Ticker	Activity	Share change	% portfolio
SPOT	Add 547%	+61K	0.20%
UPWK	Add 279%	+32K	0.00%
IVV	Add 248%	+565K	1.60%
SPG	Add 168%	+4K	0.00%
IONQ	Buy (new)	+843K	2.00%
AXT	Buy (new)	+22K	0.00%
FIGS	Buy (new)	+49K	0.00%
GAP	Buy (new)	+13K	0.00%
GRBK	Buy (new)	+7K	0.00%
JFROG	Buy (new)	+10K	0.00%
LYFT	Buy (new)	+18K	0.00%
VTI	Add 74%	+16K	0.10%
IVV	Add 62%	+285K	0.40%
BABA	Sell (exit)	-3K	0.00%
AUR	Sell (exit)	-18K	0.00%
BAIDU	Sell (exit)	-3K	0.00%
CAVA	Sell (exit)	-8K	0.00%
CHEWY	Sell (exit)	-5K	0.00%
KO	Sell (exit)	-10K	0.00%
DOCS	Sell (exit)	-7K	0.00%
NAYAX	Sell (exit)	-9K	0.00%
NKE	Sell (exit)	-4K	0.00%
PEP	Sell (exit)	-5K	0.00%
PG	Sell (exit)	-5K	0.00%
VST	Sell (exit)	-3K	0.00%
WDAY	Reduce 99%	-1.85M	0.00%
TMO	Reduce 98%	-112K	0.00%
GOOGL	Reduce 93%	-443K	0.00%
WTW	Reduce 88%	-192K	0.00%
ICON	Reduce 76%	-338K	0.10%
PORCH	Reduce 75%	-164K	0.00%
TLN	Reduce 67%	-3K	0.00%
NFLX	Reduce 64%	-305K	0.10%
NTRA	Reduce 53%	-2K	0.00%
AAPL	Reduce 50%	-8K	0.00%
NRG	Reduce 50%	-3K	0.00%
PDD	Reduce 50%	-32K	0.00%
ABT	Reduce 47%	-3.46M	2.10%
ASML	Reduce 43%	-9K	0.10%
HHH	Reduce 41%	-10K	0.00%
SEA	Reduce 39%	-28K	0.00%
HDB	Reduce 38%	-226K	0.10%
U	Reduce 37%	-3K	0.00%
OSCR	Reduce 36%	-8K	0.00%
SHOP	Reduce 35%	-3.86M	4.90%
ARGAN	Reduce 34%	-13K	0.00%
OPPFI	Reduce 34%	-21K	0.00%
CEG	Reduce 33%	-1K	0.00%
SAP	Reduce 32%	-112K	0.20%
MDT	Reduce 32%	-40K	0.00%

Showing top 50 by position change · 41 smaller moves hidden

Q3 2025

28 buys · 63 sells

Ticker	Activity	Share change	% portfolio
NVDA	Add 36850%	+6.28M	3.80%
UBER	Add 24572%	+4.55M	1.50%
IVV	Add 295%	+341K	0.20%
ADPT	Add 105%	+149K	0.00%
BN	Buy (new)	+4.49M	4.80%
BSX	Buy (new)	+5.60M	1.80%
INTU	Buy (new)	+662K	1.50%
TSM	Buy (new)	+177K	0.20%
BABA	Buy (new)	+3K	0.00%
AUR	Buy (new)	+18K	0.00%
BAIDU	Buy (new)	+3K	0.00%
CAVA	Buy (new)	+8K	0.00%
CHEWY	Buy (new)	+5K	0.00%
KO	Buy (new)	+10K	0.00%
HHH	Buy (new)	+24K	0.00%
META	Buy (new)	+538	0.00%
PEP	Buy (new)	+5K	0.00%
PG	Buy (new)	+5K	0.00%
U	Buy (new)	+9K	0.00%
UPWK	Buy (new)	+11K	0.00%
AAPL	Add 80%	+7K	0.00%
VTI	Add 73%	+9K	0.00%
W	Add 73%	+13K	0.00%
GH	Add 70%	+7K	0.00%
PORCH	Add 61%	+82K	0.00%
AAON	Sell (exit)	-3K	0.00%
CCCS	Sell (exit)	-41K	0.00%
GSHD	Sell (exit)	-16K	0.00%
IBP	Sell (exit)	-4K	0.00%
ITRON	Sell (exit)	-9K	0.00%
LVS	Sell (exit)	-13K	0.00%
MAREX	Sell (exit)	-19K	0.00%
NVO	Sell (exit)	-179K	0.00%
PLTR	Sell (exit)	-2K	0.00%
QLYS	Sell (exit)	-1K	0.00%
SHAK	Sell (exit)	-10K	0.00%
SITE	Sell (exit)	-2K	0.00%
TREX	Sell (exit)	-6K	0.00%
IT	Reduce 99%	-770K	0.00%
ADP	Reduce 97%	-92K	0.00%
TMO	Reduce 95%	-2.08M	0.20%
MEDP	Reduce 83%	-4K	0.00%
UNH	Reduce 76%	-5K	0.00%
SPOT	Reduce 62%	-18K	0.00%
ASML	Reduce 56%	-25K	0.10%
OSCR	Reduce 55%	-26K	0.00%
VST	Reduce 54%	-3K	0.00%
WDAY	Reduce 48%	-1.71M	1.50%
MDT	Reduce 47%	-110K	0.00%
ABNB	Reduce 46%	-3.38M	1.60%

Showing top 50 by position change · 41 smaller moves hidden

Q2 2025

36 buys · 51 sells

Ticker	Activity	Share change	% portfolio
IBKR	Buy (new)	+1.20M	2.00%
ADPT	Buy (new)	+142K	0.00%
ARGAN	Buy (new)	+45K	0.00%
BBIO	Buy (new)	+36K	0.00%
CRS	Buy (new)	+9K	0.00%
CVNA	Buy (new)	+12K	0.00%
CEG	Buy (new)	+4K	0.00%
DAVE	Buy (new)	+13K	0.00%
DOCS	Buy (new)	+6K	0.00%
GRAIL	Buy (new)	+22K	0.00%
GH	Buy (new)	+10K	0.00%
HCI	Buy (new)	+14K	0.00%
ITRON	Buy (new)	+9K	0.00%
MAREX	Buy (new)	+19K	0.00%
NTRA	Buy (new)	+3K	0.00%
NAYAX	Buy (new)	+13K	0.00%
NRG	Buy (new)	+6K	0.00%
NVDA	Buy (new)	+17K	0.00%
OPPFI	Buy (new)	+61K	0.00%
OSCR	Buy (new)	+48K	0.00%
PLTR	Buy (new)	+2K	0.00%
PORCH	Buy (new)	+135K	0.00%
PLPC	Buy (new)	+6K	0.00%
SEA	Buy (new)	+84K	0.00%
SHAK	Buy (new)	+10K	0.00%
TLN	Buy (new)	+6K	0.00%
FTI	Buy (new)	+52K	0.00%
TSLA	Buy (new)	+7K	0.00%
UBER	Buy (new)	+19K	0.00%
VST	Buy (new)	+6K	0.00%
VSE	Buy (new)	+40K	0.00%
W	Buy (new)	+17K	0.00%
SBUX	Add 88%	+4.54M	2.70%
AAPL	Reduce 100%	-2.67M	0.00%
ENTG	Sell (exit)	-12K	0.00%
EPAM	Sell (exit)	-17K	0.00%
FND	Sell (exit)	-9K	0.00%
POOL	Sell (exit)	-6K	0.00%
SAIA	Sell (exit)	-2K	0.00%
SPGI	Sell (exit)	-5K	0.00%
YUMC	Sell (exit)	-86K	0.00%
UNH	Reduce 99%	-1.03M	0.00%
AAON	Reduce 94%	-46K	0.00%
CCCS	Reduce 92%	-503K	0.00%
TREX	Reduce 92%	-73K	0.00%
LVS	Reduce 91%	-127K	0.00%
QLYS	Reduce 91%	-15K	0.00%
SITE	Reduce 91%	-20K	0.00%
NVO	Reduce 82%	-823K	0.00%
MEDP	Reduce 81%	-20K	0.00%

Showing top 50 by position change · 37 smaller moves hidden

Q1 2025

15 buys · 46 sells

Ticker	Activity	Share change	% portfolio
AON	Add 318%	+2.29M	3.80%
WTW	Add 185%	+238K	0.40%
SBUX	Buy (new)	+5.13M	1.60%
SAIA	Buy (new)	+2K	0.00%
SPGI	Buy (new)	+5K	0.00%
MELI	Add 87%	+32K	0.40%
TME	Add 87%	+919K	0.10%
AAON	Add 57%	+18K	0.00%
MEDP	Add 51%	+8K	0.00%
TREX	Add 40%	+22K	0.00%
LLY	Add 35%	+459K	4.60%
NU	Add 32%	+726K	0.10%
EPAM	Add 23%	+3K	0.00%
ORCL	Add 18%	+1.89M	5.50%
ZTS	Add 18%	+1.31M	4.50%
ALGN	Sell (exit)	-5K	0.00%
COPA	Sell (exit)	-7K	0.00%
EQIX	Sell (exit)	-15K	0.00%
FERG	Sell (exit)	-1K	0.00%
SPG	Reduce 85%	-8K	0.00%
NVO	Reduce 84%	-5.40M	0.20%
VTI	Reduce 63%	-24K	0.00%
CRM	Reduce 58%	-11K	0.00%
AAPL	Reduce 57%	-3.49M	1.90%
NKE	Reduce 54%	-7K	0.00%
ADSK	Reduce 53%	-3K	0.00%
GOOGL	Reduce 50%	-619K	0.30%
NFLX	Reduce 49%	-840K	2.60%
SAP	Reduce 46%	-457K	0.50%
NOW	Reduce 42%	-685K	2.40%
IVV	Reduce 36%	-263K	0.20%
SPOT	Reduce 36%	-22K	0.10%
PYPL	Reduce 34%	-2K	0.00%
GOOG	Reduce 33%	-3.64M	3.60%
CCCS	Reduce 29%	-218K	0.00%
GSHD	Reduce 27%	-23K	0.00%
IVV	Reduce 23%	-120K	0.40%
MDT	Reduce 20%	-153K	0.20%
HDB	Reduce 16%	-124K	0.10%
ASML	Reduce 15%	-9K	0.10%
SITE	Reduce 12%	-3K	0.00%
SHOP	Reduce 11%	-1.81M	4.60%
ICON	Reduce 11%	-76K	0.30%
ABT	Reduce 10%	-1.30M	4.70%
LVS	Reduce 10%	-15K	0.00%
QLYS	Reduce 10%	-2K	0.00%
AMZN	Reduce 9%	-1.80M	10.60%
ACN	Reduce 9%	-318K	3.10%
FND	Reduce 9%	-876	0.00%
V	Reduce 8%	-555K	6.60%

Showing top 50 by position change · 11 smaller moves hidden

Q4 2024

18 buys · 45 sells

Ticker	Activity	Share change	% portfolio
TREX	Add 984%	+51K	0.00%
SPG	Add 412%	+8K	0.00%
IVV	Add 316%	+555K	0.20%
VTI	Add 183%	+25K	0.00%
IVV	Add 179%	+334K	0.60%
LLY	Add 164%	+805K	2.70%
CSGP	Buy (new)	+6.50M	1.30%
NU	Buy (new)	+2.24M	0.10%
SPOT	Buy (new)	+61K	0.10%
WTW	Buy (new)	+129K	0.10%
ENTG	Buy (new)	+11K	0.00%
FERG	Buy (new)	+1K	0.00%
POOL	Add 62%	+2K	0.00%
SITE	Add 48%	+8K	0.00%
FND	Add 35%	+3K	0.00%
ORCL	Add 22%	+1.96M	4.80%
ZTS	Add 18%	+1.12M	3.30%
FIVE	Sell (exit)	-5K	0.00%
SPGI	Sell (exit)	-5K	0.00%
YUMC	Reduce 59%	-125K	0.00%
ALGN	Reduce 56%	-6K	0.00%
CRM	Reduce 45%	-16K	0.00%
UNH	Reduce 44%	-871K	1.50%
IT	Reduce 39%	-567K	1.20%
EQIX	Reduce 39%	-10K	0.00%
EPAM	Reduce 35%	-7K	0.00%
ICON	Reduce 32%	-342K	0.40%
TME	Reduce 31%	-480K	0.00%
ADSK	Reduce 29%	-2K	0.00%
PDD	Reduce 29%	-27K	0.00%
NOW	Reduce 26%	-589K	4.70%
AMZN	Reduce 24%	-6.20M	11.60%
MDT	Reduce 24%	-241K	0.20%
COPA	Reduce 24%	-2K	0.00%
LVS	Reduce 24%	-48K	0.00%
GSHD	Reduce 20%	-22K	0.00%
PYPL	Reduce 16%	-1K	0.00%
GOOG	Reduce 14%	-1.74M	5.70%
TMO	Reduce 12%	-346K	3.50%
IBP	Reduce 12%	-2K	0.00%
WDAY	Reduce 11%	-515K	3.00%
ABNB	Reduce 11%	-966K	2.90%
NKE	Reduce 11%	-2K	0.00%
SHOP	Reduce 10%	-1.89M	4.90%
ACN	Reduce 10%	-376K	3.40%
PAYC	Reduce 10%	-339K	1.80%
MSFT	Reduce 9%	-602K	7.30%
V	Reduce 9%	-679K	5.60%
MA	Reduce 9%	-341K	5.00%
NFLX	Reduce 9%	-180K	4.20%

Showing top 50 by position change · 13 smaller moves hidden

Q3 2024

13 buys · 40 sells

Ticker	Activity	Share change	% portfolio
AAPL	Buy (new)	+6.74M	4.10%
ORCL	Buy (new)	+8.77M	3.90%
SPG	Buy (new)	+2K	0.00%
VTI	Buy (new)	+14K	0.00%
PDD	Add 71%	+39K	0.00%
PAYC	Add 57%	+1.27M	1.50%
WDAY	Add 40%	+1.37M	3.00%
IBP	Add 37%	+5K	0.00%
MSCI	Add 35%	+578K	3.40%
ASML	Add 32%	+16K	0.10%
SHOP	Add 29%	+4.25M	3.90%
MELI	Add 26%	+8K	0.20%
ADBE	Add 24%	+646K	4.40%
NKE	Reduce 100%	-8.95M	0.00%
DOCS	Sell (exit)	-106K	0.00%
FCX	Sell (exit)	-10K	0.00%
META	Sell (exit)	-808	0.00%
RH	Sell (exit)	-8K	0.00%
CRM	Reduce 99%	-6.68M	0.00%
SPGI	Reduce 94%	-87K	0.00%
ADSK	Reduce 83%	-35K	0.00%
FIVE	Reduce 76%	-16K	0.00%
ADP	Reduce 60%	-294K	0.10%
ALGN	Reduce 49%	-10K	0.00%
GOOGL	Reduce 39%	-820K	0.50%
IVV	Reduce 39%	-121K	0.20%
PYPL	Reduce 31%	-4K	0.00%
EQIX	Reduce 25%	-8K	0.00%
GOOG	Reduce 23%	-3.86M	5.50%
MSFT	Reduce 22%	-1.97M	7.80%
IVV	Reduce 22%	-50K	0.00%
EPAM	Reduce 20%	-5K	0.00%
QLYS	Reduce 20%	-5K	0.00%
GSHD	Reduce 18%	-23K	0.00%
SAP	Reduce 15%	-190K	0.60%
COPA	Reduce 14%	-2K	0.00%
MEDP	Reduce 14%	-2K	0.00%
AMZN	Reduce 13%	-3.88M	12.40%
UNH	Reduce 11%	-253K	3.00%
IT	Reduce 11%	-181K	1.90%
NOW	Reduce 10%	-259K	5.10%
MA	Reduce 10%	-407K	4.90%
TMO	Reduce 10%	-295K	4.50%
ACN	Reduce 10%	-431K	3.60%
NFLX	Reduce 10%	-211K	3.50%
ZTS	Reduce 10%	-679K	3.20%
ABNB	Reduce 10%	-991K	3.00%
LLY	Reduce 10%	-57K	1.10%
V	Reduce 9%	-740K	5.20%
ABT	Reduce 9%	-1.37M	4.10%

Showing top 50 by position change · 3 smaller moves hidden

Q2 2024

12 buys · 30 sells

Ticker	Activity	Share change	% portfolio
SHOP	Add 1672%	+13.89M	2.40%
MSCI	Add 1113%	+1.51M	2.00%
IVV	Add 317%	+171K	0.10%
IVV	Add 281%	+227K	0.30%
AAON	Buy (new)	+35K	0.00%
IBP	Buy (new)	+13K	0.00%
META	Buy (new)	+808	0.00%
PDD	Buy (new)	+55K	0.00%
CCCS	Add 51%	+289K	0.00%
PAYC	Add 47%	+716K	0.80%
HDB	Add 20%	+143K	0.10%
POOL	Add 6%	+189	0.00%
XPEL	Sell (exit)	-50K	0.00%
ADSK	Reduce 99%	-4.90M	0.00%
ALGN	Reduce 98%	-1.20M	0.00%
PYPL	Reduce 74%	-37K	0.00%
SPGI	Reduce 63%	-158K	0.00%
FND	Reduce 51%	-8K	0.00%
RH	Reduce 49%	-8K	0.00%
TREX	Reduce 49%	-5K	0.00%
NFLX	Reduce 45%	-1.72M	3.60%
TME	Reduce 43%	-1.16M	0.10%
DOCS	Reduce 37%	-61K	0.00%
YUMC	Reduce 34%	-106K	0.00%
EPAM	Reduce 28%	-10K	0.00%
COPA	Reduce 20%	-3K	0.00%
SITE	Reduce 18%	-4K	0.00%
QLYS	Reduce 17%	-5K	0.00%
LVS	Reduce 15%	-36K	0.00%
AMZN	Reduce 14%	-4.79M	14.40%
EQIX	Reduce 14%	-5K	0.00%
GOOG	Reduce 8%	-1.40M	7.70%
FIVE	Reduce 8%	-2K	0.00%
MSFT	Reduce 7%	-680K	10.10%
NOW	Reduce 7%	-180K	4.90%
WDAY	Reduce 7%	-253K	1.90%
MELI	Reduce 7%	-2K	0.10%
ADBE	Reduce 6%	-171K	3.70%
ACN	Reduce 6%	-295K	3.30%
UNH	Reduce 6%	-145K	2.90%
IT	Reduce 6%	-98K	1.90%
LLY	Reduce 6%	-38K	1.20%

Polen's sector breakdown

How the top 10 positions are diversified across 3 sectors. Weighted by stated portfolio percentage.

Technology

5 positions · AMZN, MSFT, GOOG, SHOP, NVDA

53.3%

31.1% of AUM

Financials

3 positions · BN, MA, V

26.6%

15.5% of AUM

Other

2 positions · ORCL, LLY

20.1%

11.7% of AUM

Top holdings

Ticker	Company	% Portfolio	Shares (M)
AMZN	AMAZON COM INC	8.5%	8.65
MSFT	MICROSOFT CORP Core compounder. Decade-long hold.	8.1%	3.91
ORCL	ORACLE CORP	6.0%	7.19
LLY	ELI LILLY & CO	5.7%	1.25
GOOG	ALPHABET INC	5.4%	4.02
BN	BROADCOM INC	5.2%	3.53
MA	MASTERCARD INCORPORATED Payment network.	5.2%	2.13
V	VISA INC Payment network toll booth.	5.1%	3.38
SHOP	SHOPIFY INC	4.9%	7.2
NVDA	NVIDIA CORPORATION	4.2%	5.33

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Dividend tax by country

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Your country of residenceCompany is domiciled inGross dividend (example)

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You'd receive

$1000.00

Of $1000 gross

Source & treaty reference

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