Q2 2026 · SEC CIK 0001034524

Polen Capital Management portfolio

SuperinvestorInstitutional asset managerPolen Capital Management LLC filed on 2026-08-04. Open SEC filings ↗

Reported 13F value: $11.6B
Reported positions: 219
Eligible equities: 198
Holdings vs S&P 500, 3 years: -10.1 pts

Average holding period of the top positions: 6.4 yrs. Holdings vs the S&P 500 over 1 and 5 years: -17.4 pts, -8.3 pts.

In its Q2 2026 13F, filed 2026-08-04, Polen Capital Management LLC reported 219 positions worth $11.6B. Its largest holdings were ELI LILLY & CO (LLY, 6.9%), NVIDIA CORPORATION (NVDA, 6.9%), MICROSOFT CORP (MSFT, 6.7%). Over the last 3 years its top holdings ran 10.1 points a year behind the S&P 500.

Reported holdings in the Q2 2026 13F.

The portfolio weight uses the full reported share-portfolio denominator. Weight changes compare this 13F with the one before it; price moves also change weights, so these are not trade labels. “New” means the position was not in the previous 13F at all; “—” marks a small position the earlier filing data does not cover.

Polen Capital Management eligible holdings
Stock	% of reported portfolio	Prior quarter	Weight change	Reported shares	Reported value
LLYELI LILLY & CO	6.9%	5.8%	+1.07 pp	666,912	$799.9M
NVDANVIDIA CORPORATION	6.9%	5.0%	+1.91 pp	3,978,446	$796.0M
MSFTMICROSOFT CORP	6.7%	7.3%	-0.54 pp	2,098,613	$782.8M
GOOGALPHABET INC	6.6%	5.8%	+0.74 pp	2,165,218	$765.0M
AVGOBROADCOM INC	6.4%	5.8%	+0.60 pp	1,960,209	$740.5M
AMZNAMAZON COM INC	5.8%	5.6%	+0.15 pp	2,809,953	$669.7M
VVISA INC	5.3%	5.1%	+0.22 pp	1,805,617	$619.5M
MAMASTERCARD INCORPORATED	5.1%	5.3%	-0.28 pp	1,141,958	$586.5M
NOWSERVICENOW INC	4.6%	5.3%	-0.67 pp	5,370,172	$533.2M
ORCLORACLE CORP	4.5%	5.1%	-0.60 pp	3,574,259	$523.8M
SHOPSHOPIFY INC	4.5%	5.2%	-0.67 pp	4,577,524	$522.7M
MSCIMSCI INC	3.2%	3.5%	-0.23 pp	671,797	$376.2M
LRCXLAM RESEARCH CORP	3.2%	1.6%	+1.65 pp	859,036	$372.2M
SBUXSTARBUCKS CORP	3.1%	3.1%	-0.01 pp	3,550,773	$362.9M
IDXXIDEXX LABS INC	2.4%	2.7%	-0.29 pp	532,384	$280.3M
GEGE AEROSPACE	2.2%	—	—	690,493	$258.1M
CSGPCOSTAR GROUP INC	2.1%	3.5%	-1.37 pp	8,759,314	$248.1M
TSMTAIWAN SEMICONDUCTOR MANUFAC	2.1%	0.4%	+1.65 pp	501,210	$239.4M
ABNBAIRBNB INC	2.0%	2.0%	+0.05 pp	1,649,884	$236.1M
GEVGE VERNOVA INC	2.0%	—	—	196,612	$231.0M
METAMETA PLATFORMS INC	1.6%	1.9%	-0.29 pp	329,573	$185.6M
ISRGINTUITIVE SURGICAL INC	1.5%	1.9%	-0.40 pp	447,944	$178.1M
ATIATI INC	1.4%	—	—	819,236	$161.5M
HWMHOWMET AEROSPACE INC	1.1%	—	—	457,124	$122.9M
EMEEMCOR GROUP INC	0.7%	—	—	103,123	$85.6M
ROLROLLINS INC	0.6%	0.8%	-0.23 pp	1,590,903	$66.4M
AONAON PLC	0.5%	3.0%	-2.55 pp	164,035	$54.4M
MELIMERCADOLIBRE INC	0.4%	0.4%	-0.03 pp	25,926	$44.0M
UBERUBER TECHNOLOGIES INC	0.4%	1.5%	-1.10 pp	570,063	$41.1M
SPOTSPOTIFY TECHNOLOGY S A	0.3%	0.4%	-0.04 pp	81,578	$37.5M
ASMLASML HLDG NV	0.3%	0.1%	+0.12 pp	15,427	$30.7M
ZTSZOETIS INC	0.2%	3.5%	-3.25 pp	320,420	$23.0M
ACNACCENTURE PLC IRELAND	0.2%	1.9%	-1.69 pp	152,800	$19.0M
SNPSSYNOPSYS INC	0.2%	1.8%	-1.68 pp	41,267	$18.4M
DOCNDIGITALOCEAN HLDGS INC	0.1%	0.1%	+0.08 pp	101,350	$15.9M
WULFTERAWULF INC	0.1%	0.0%	+0.11 pp	563,139	$13.9M
BEBLOOM ENERGY CORP	0.1%	0.1%	+0.04 pp	40,838	$12.4M
BELFBBEL FUSE INC	0.1%	0.1%	+0.04 pp	32,845	$10.9M
NUNU HLDGS LTD	0.1%	0.1%	-0.03 pp	752,747	$10.1M
GOOGLALPHABET INC	0.1%	0.1%	+0.03 pp	27,810	$9.9M
LASRNLIGHT INC	0.1%	0.0%	+0.04 pp	133,448	$9.3M
FROGJFROG LTD	0.1%	0.0%	+0.07 pp	93,117	$8.5M
POWLPOWELL INDS INC	0.1%	0.1%	+0.01 pp	29,181	$8.4M
AGXARGAN INC	0.1%	0.1%	+0.00 pp	10,214	$8.2M
MODMODINE MFG CO	0.1%	0.0%	+0.02 pp	29,335	$7.8M
YOUCLEAR SECURE INC	0.1%	0.0%	+0.01 pp	131,773	$7.3M
BKDBROOKDALE SR LIVING INC	0.1%	0.0%	+0.02 pp	451,082	$7.3M
BWXTBWX TECHNOLOGIES INC	0.1%	0.1%	+0.01 pp	36,974	$7.2M
CCJCAMECO CORP	0.1%	0.0%	+0.05 pp	68,968	$7.0M
VSECVSE CORP	0.1%	0.1%	+0.00 pp	29,853	$6.8M
SPHRSPHERE ENTERTAINMENT CO	0.1%	0.0%	+0.02 pp	38,529	$6.7M
SEISOLARIS ENERGY INFRAS INC	0.1%	0.0%	+0.02 pp	80,324	$6.5M
AMPXAMPRIUS TECHNOLOGIES INC	0.1%	0.0%	+0.01 pp	465,598	$6.5M
AEHRAEHR TEST SYS	0.1%	0.0%	+0.04 pp	66,157	$6.4M
DLODLOCAL LTD	0.1%	0.0%	+0.01 pp	456,087	$5.9M
REALTHE REALREAL INC	0.1%	0.0%	+0.04 pp	496,556	$5.9M
TWSTTWIST BIOSCIENCE CORP	0.0%	0.0%	+0.04 pp	55,310	$5.7M
VICRVICOR CORP	0.0%	0.0%	+0.03 pp	14,924	$5.7M
IESCIES HOLDINGS INC	0.0%	0.0%	+0.01 pp	7,275	$5.3M
GHGUARDANT HEALTH INC	0.0%	0.0%	+0.02 pp	34,372	$5.2M
LPTHLIGHTPATH TECHNOLOGIES INC	0.0%	0.0%	+0.04 pp	314,476	$5.1M
PLPLANET LABS PBC	0.0%	0.0%	+0.00 pp	149,211	$4.9M
VPGVISHAY PRECISION GROUP INC	0.0%	0.0%	+0.04 pp	32,744	$4.9M
NFLXNETFLIX INC.	0.0%	0.1%	-0.01 pp	68,139	$4.9M
FTKFLOTEK INDUSTRIES INC	0.0%	0.0%	+0.04 pp	195,504	$4.6M
SAPSAP SE	0.0%	0.1%	-0.04 pp	28,773	$4.4M
CRSCARPENTER TECHNOLOGY CORP	0.0%	0.0%	+0.00 pp	6,756	$4.2M
SITMSITIME CORP	0.0%	0.0%	+0.02 pp	5,555	$4.1M
BFLYBUTTERFLY NETWORK INC	0.0%	—	—	480,502	$4.0M
AXTIAXT INC	0.0%	0.0%	+0.01 pp	52,707	$3.8M
TSLATESLA INC	0.0%	0.0%	+0.01 pp	8,974	$3.8M
APLDAPPLIED DIGITAL CORP	0.0%	—	—	98,328	$3.7M
VECOVEECO INSTRS INC DEL	0.0%	0.0%	+0.03 pp	48,314	$3.7M
BWBABCOCK & WILCOX ENTERPRISES	0.0%	0.0%	+0.00 pp	249,411	$3.5M
AZNASTRAZENECA PLC	0.0%	0.0%	-0.01 pp	18,621	$3.5M
TMETENCENT MUSIC ENTMT GROUP	0.0%	0.0%	+0.00 pp	407,182	$3.4M
AIRAAR CORP	0.0%	0.0%	+0.02 pp	23,561	$3.4M
WTWWILLIS TOWERS WATSON PLC LTD	0.0%	0.0%	-0.01 pp	12,833	$3.4M
TSHATAYSHA GENE THERAPIES INC	0.0%	0.0%	+0.02 pp	489,219	$3.3M
LINDLINDBLAD EXPEDITIONS HLDGS I	0.0%	0.0%	+0.02 pp	114,915	$3.2M
ATROASTRONICS CORP	0.0%	0.0%	+0.01 pp	39,379	$3.2M
LFUSLITTELFUSE INC	0.0%	0.0%	+0.02 pp	7,016	$3.2M
ASTEASTEC INDS INC	0.0%	0.0%	+0.01 pp	52,160	$3.2M
LTHLIFE TIME GROUP HOLDINGS INC	0.0%	0.0%	+0.02 pp	76,705	$3.1M
EVCENTRAVISION COMMUNICATIONS C	0.0%	—	—	236,939	$3.1M
TIGOMILLICOM INTL CELLULAR S A	0.0%	0.0%	+0.01 pp	33,602	$3.0M
JOBYJOBY AVIATION INC	0.0%	0.0%	+0.01 pp	332,157	$3.0M
CPACOPA HOLDINGS SA	0.0%	—	—	18,948	$2.9M
CDNLCARDINAL INFRASTRUCTURE GROU	0.0%	—	—	30,787	$2.9M
SRRKSCHOLAR ROCK HLDG CORP	0.0%	0.0%	+0.01 pp	52,132	$2.9M
AAOIAPPLIED OPTOELECTRONICS INC	0.0%	0.0%	+0.02 pp	19,272	$2.9M
PRLBPROTO LABS INC	0.0%	0.0%	+0.01 pp	35,011	$2.9M
OPYOPPENHEIMER HLDGS INC	0.0%	0.0%	+0.01 pp	26,834	$2.8M
PLPCPREFORMED LINE PRODS CO	0.0%	0.0%	+0.01 pp	6,875	$2.8M
FPSFORGENT POWER SOLUTIONS INC	0.0%	—	—	50,328	$2.8M
DRTSALPHA TAU MEDICAL LTD	0.0%	—	—	220,751	$2.8M
PTGXPROTAGONIST THERAPEUTICS INC	0.0%	0.0%	+0.01 pp	22,651	$2.8M
AZZAZZ INC	0.0%	0.0%	+0.01 pp	17,364	$2.7M
PURRHYPERLIQUID STRATEGIES INC	0.0%	0.0%	+0.02 pp	340,311	$2.7M
CAKECHEESECAKE FACTORY INC	0.0%	0.0%	+0.01 pp	33,297	$2.6M
ROADCONSTRUCTION PARTNERS INC	0.0%	0.0%	+0.00 pp	22,291	$2.6M
WTWISDOMTREE INC	0.0%	0.0%	+0.01 pp	149,051	$2.5M
FIVNFIVE9 INC	0.0%	—	—	117,256	$2.5M
CVNACARVANA CO	0.0%	0.0%	+0.01 pp	37,504	$2.5M
MIRMMIRUM PHARMACEUTICALS INC	0.0%	0.0%	+0.01 pp	20,899	$2.4M
PRAXPRAXIS PRECISION MEDICINES I	0.0%	0.0%	-0.00 pp	7,252	$2.4M
KNKNOWLES CORP	0.0%	—	—	58,485	$2.4M
VCTRVICTORY CAP HLDGS INC DEL	0.0%	0.0%	+0.00 pp	28,223	$2.4M
MECMAYVILLE ENGR CO INC	0.0%	—	—	61,827	$2.3M
RKLBROCKET LAB CORP	0.0%	0.0%	+0.01 pp	22,751	$2.3M
SESEA LTD	0.0%	0.0%	+0.00 pp	23,119	$2.2M
ADPTADAPTIVE BIOTECHNOLOGIES COR	0.0%	0.0%	+0.01 pp	102,457	$2.2M
NOVTNOVANTA INC	0.0%	—	—	13,366	$2.2M
SMTCSEMTECH CORP	0.0%	0.0%	+0.02 pp	13,353	$2.2M
PENGPENGUIN SOLUTIONS INC	0.0%	—	—	28,293	$2.2M
AKTSAKTIS ONCOLOGY INC	0.0%	—	—	63,514	$2.0M
BLLNBILLIONTOONE INC	0.0%	—	—	16,975	$2.0M
PTCTPTC THERAPEUTICS INC	0.0%	—	—	24,916	$2.0M
OUTOUTFRONT MEDIA INC	0.0%	0.0%	+0.01 pp	60,351	$2.0M
GHMGRAHAM CORP	0.0%	0.0%	+0.01 pp	15,852	$2.0M
TVTXTRAVERE THERAPEUTICS INC	0.0%	—	—	34,315	$1.9M
ESTAESTABLISHMENT LABS HLDGS INC	0.0%	0.0%	+0.01 pp	22,541	$1.9M
WOLFWOLFSPEED INC	0.0%	—	—	38,219	$1.8M
MAMAMAMAS CREATIONS INC	0.0%	0.0%	+0.01 pp	100,497	$1.8M
ADEAADEIA INC	0.0%	—	—	52,575	$1.7M
EROERO COPPER CORP	0.0%	0.0%	+0.00 pp	62,613	$1.7M
RHLDRESOLUTE HLDGS MGMT INC	0.0%	0.0%	-0.00 pp	11,464	$1.7M
ETONETON PHARMACEUTICALS INC	0.0%	0.0%	+0.01 pp	45,379	$1.6M
CWCURTISS WRIGHT CORP	0.0%	0.0%	+0.01 pp	2,085	$1.6M
RNGRINGCENTRAL INC	0.0%	—	—	40,133	$1.6M
ADBEADOBE INC	0.0%	0.0%	-0.01 pp	7,581	$1.6M
FTITECHNIPFMC PLC	0.0%	0.0%	-0.00 pp	22,164	$1.5M
ZGNERMENEGILDO ZEGNA N V	0.0%	—	—	111,273	$1.4M
CVLGCOVENANT LOGISTICS GROUP INC	0.0%	—	—	31,943	$1.4M
KODKODIAK SCIENCES INC	0.0%	0.0%	+0.00 pp	35,469	$1.4M
AIRJAIRJOULE TECHNOLOGIES CORP	0.0%	—	—	243,378	$1.3M
VELOVELO3D INC	0.0%	0.0%	+0.01 pp	74,422	$1.3M
BTDRBITDEER TECHNOLOGIES GROUP	0.0%	—	—	79,540	$1.3M
GRBKGREEN BRICK PARTNERS INC	0.0%	0.0%	+0.00 pp	15,242	$1.2M
SOFISOFI TECHNOLOGIES INC	0.0%	0.0%	-0.00 pp	65,611	$1.2M
FNFABRINET	0.0%	0.0%	+0.00 pp	2,087	$1.2M
TWLOTWILIO INC	0.0%	0.0%	+0.01 pp	5,572	$1.1M
SPCXSPACE EXPLORATION TECHN CORP	0.0%	—	—	6,705	$1.1M
NESRNATIONAL ENERGY SERVICES REU	0.0%	—	—	38,252	$1.1M
PRSUPURSUIT ATTRACTIONS AND HOSP	0.0%	—	—	19,995	$1.1M
IBNICICI BANK LIMITED	0.0%	0.0%	-0.01 pp	38,124	$1.1M
OSCROSCAR HEALTH INC	0.0%	—	—	38,701	$1.1M
AXSMAXSOME THERAPEUTICS INC.	0.0%	0.0%	+0.01 pp	4,468	$1.1M
RXORXO INC	0.0%	—	—	37,400	$1.0M
WYFIWHITEFIBER INC	0.0%	—	—	26,281	$1.0M
WSCWILLSCOT HLDGS CORP	0.0%	—	—	34,229	$988K
ADTNADTRAN HOLDINGS INC	0.0%	0.0%	+0.00 pp	70,292	$977K
DNTHDIANTHUS THERAPEUTICS INC	0.0%	0.0%	+0.01 pp	9,333	$910K
CYDCHINA YUCHAI INTL LTD	0.0%	—	—	19,146	$908K
AAPLAPPLE INC	0.0%	0.0%	+0.00 pp	2,892	$837K
CCXICHURCHILL CAP CORP XI	0.0%	—	—	45,590	$796K
LOCOEL POLLO LOCO HLDGS INC	0.0%	0.0%	+0.01 pp	46,419	$787K
MTSIMACOM TECH SOLUTIONS HLDGS I	0.0%	0.0%	+0.01 pp	2,048	$779K
APEIAMERICAN PUB ED INC	0.0%	0.0%	+0.00 pp	13,971	$750K
AFRMAFFIRM HLDGS INC	0.0%	0.0%	+0.00 pp	8,958	$731K
UALUNITED AIRLS HLDGS INC	0.0%	—	—	5,277	$718K
MITKMITEK SYS INC	0.0%	0.0%	+0.00 pp	35,504	$715K
XPOXPO INC	0.0%	—	—	3,396	$697K
GKOSGLAUKOS CORP	0.0%	—	—	4,818	$673K
CAMTCAMTEK LTD	0.0%	—	—	4,113	$671K
SNSHARKNINJA INC	0.0%	0.0%	+0.00 pp	4,146	$631K
NXENEXGEN ENERGY LTD	0.0%	0.0%	-0.00 pp	62,639	$588K
FORMFORMFACTOR INC	0.0%	—	—	3,591	$574K
TLNTALEN ENERGY CORP	0.0%	0.0%	+0.00 pp	1,473	$566K
AEISADVANCED ENERGY INDS	0.0%	—	—	1,503	$560K
VISTVISTA ENERGY S.A.B. DE C.V.	0.0%	0.0%	+0.00 pp	8,483	$541K
ARWRARROWHEAD PHARMACEUTICALS IN	0.0%	—	—	6,612	$539K
LSCCLATTICE SEMICONDUCTOR CORP	0.0%	—	—	3,478	$532K
RBRKRUBRIK INC.	0.0%	—	—	6,201	$498K
DSGXDESCARTES SYS GROUP INC	0.0%	—	—	6,987	$484K
EIKNEIKON THERAPEUTICS INC	0.0%	—	—	35,742	$466K
BENFRANKLIN RESOURCES INC	0.0%	—	—	13,760	$458K
JAZZJAZZ PHARMACEUTICALS PLC	0.0%	—	—	1,858	$448K
NTRANATERA INC	0.0%	0.0%	+0.00 pp	1,627	$442K
SNDKSANDISK CORP	0.0%	0.0%	+0.00 pp	193	$439K
OOMAOOMA INC	0.0%	—	—	21,039	$404K
FTAIFTAI AVIATION LTD	0.0%	0.0%	+0.00 pp	1,404	$380K
MRCYMERCURY SYS INC	0.0%	—	—	2,904	$355K
ALHALLIANCE LAUNDRY HLDGS INC	0.0%	—	—	12,442	$330K
MLIMUELLER INDS INC	0.0%	0.0%	+0.00 pp	5,172	$318K
ROIVROIVANT SCIENCES LTD	0.0%	—	—	8,659	$306K
BBIOBRIDGEBIO PHARMA INC	0.0%	0.0%	-0.02 pp	4,002	$298K
ABTABBOTT LABORATORIES	0.0%	0.0%	-0.01 pp	3,156	$286K
MLKNMILLERKNOLL INC	0.0%	0.0%	-0.00 pp	12,466	$255K
HZOMARINEMAX INC	0.0%	—	—	6,750	$247K
AMDADVANCED MICRO DEVICES INC	0.0%	—	—	417	$242K
SANMSANMINA CORP	0.0%	—	—	886	$224K
ETSYETSY INC	0.0%	—	—	2,968	$224K
WWAYFAIR INC	0.0%	0.0%	-0.02 pp	2,402	$222K
AURAURORA INNOVATION INC	0.0%	—	—	32,520	$222K
BLZEBACKBLAZE INC	0.0%	—	—	13,268	$210K
LITELUMENTUM HLDGS INC	0.0%	—	—	243	$209K
BSXBOSTON SCIENTIFIC CORP	0.0%	0.3%	-0.25 pp	4,750	$203K

What Polen Capital Management bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

TSM Taiwan Semiconductor Manufac+186.9% shares
POWL Powell Inds Inc+66.9% shares
IWF Ishares Tr+50.8% shares
DOCN Digitalocean Hldgs Inc+5.3% shares

Reduced

SNPS Synopsys Inc-93.9% shares
ZTS Zoetis Inc-92.4% shares
ACN Accenture PLC Ireland-88.7% shares
AON Aon PLC-87.9% shares
UBER Uber Technologies Inc-80.5% shares
ACWI Ishares Tr-60.7% shares
AGX Argan Inc-43.2% shares
BE Bloom Energy Corp-39.3% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: -5.7% /yr; S&P 500 +11.7%
3 years: +12.2% /yr; S&P 500 +22.3%
5 years: +2.3% /yr; S&P 500 +10.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Questions about Polen Capital Management's portfolio

What stocks does Polen Capital Management own?

Polen Capital Management LLC's latest 13F, for Q2 2026 and filed Aug 4, 2026, lists 219 positions worth $11.6B. The largest are Eli Lilly & Co (LLY) at 6.9%, Nvidia Corporation (NVDA) at 6.9%, Microsoft Corp (MSFT) at 6.7%, Alphabet Inc (GOOG) at 6.6% and Broadcom Inc (AVGO) at 6.4%.

What did Polen Capital Management buy last quarter?

In Q2 2026, Polen Capital Management LLC added Taiwan Semiconductor Manufac (TSM) (+186.9% shares), Powell Inds Inc (POWL) (+66.9% shares) and Ishares Tr (IWF) (+50.8% shares), compared with its Q1 2026 filing.

What did Polen Capital Management sell last quarter?

In Q2 2026, Polen Capital Management LLC cut from its top 50 Boston Scientific Corp (BSX), cut from its top 50 Sap SE (SAPGF), cut from its top 50 Intuit (INTU), cut from its top 50 Netflix Inc. (NFLX), cut from its top 50 Bwx Technologies Inc (BWXT), Synopsys Inc (SNPS) (-93.9% shares), Zoetis Inc (ZTS) (-92.4% shares) and Accenture PLC Ireland (ACN) (-88.7% shares), compared with its Q1 2026 filing.

How has Polen Capital Management's portfolio performed?

A portfolio copying Polen Capital Management LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +12.2% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: -5.7% against +11.7%. Over 5 years: +2.3% a year against +10.6%.

When is Polen Capital Management LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Polen Capital Management LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Polen Capital Management LLC manage?

Polen Capital Management LLC reported $24.1B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $11.6B.