# POLEN CAPITAL MANAGEMENT LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1034524. Source: https://holderbook.com/funds/1034524-polen-capital-management-llc/

- Reported value: $11.6B
- Positions: 219
- Weight of the ten largest: 58.7%
- Filed: 2026-08-04

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $799.9M | 666,912 | 6.9% | 12 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $796.0M | 3,978,446 | 6.9% | 5 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $782.8M | 2,098,613 | 6.7% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $765.0M | 2,165,218 | 6.6% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $740.5M | 1,960,209 | 6.4% | 4 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $669.7M | 2,809,953 | 5.8% | 22 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $619.5M | 1,805,617 | 5.3% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $586.5M | 1,141,958 | 5.1% | 31 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $533.2M | 5,370,172 | 4.6% | 27 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $523.8M | 3,574,259 | 4.5% | 8 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $522.7M | 4,577,524 | 4.5% | 21 |
| MSCI INC | [MSCI](https://holderbook.com/stocks/MSCI/) | $376.2M | 671,797 | 3.2% | 12 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $372.2M | 859,036 | 3.2% | 2 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $362.9M | 3,550,773 | 3.1% | 6 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $280.3M | 532,384 | 2.4% | 5 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $258.1M | 690,493 | 2.2% | 1 |
| COSTAR GROUP INC | [CSGP](https://holderbook.com/stocks/CSGP/) | $248.1M | 8,759,314 | 2.1% | 7 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $239.4M | 501,210 | 2.1% | 4 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $236.1M | 1,649,884 | 2.0% | 20 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $231.0M | 196,612 | 2.0% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $185.6M | 329,573 | 1.6% | 2 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $178.1M | 447,944 | 1.5% | 3 |
| ATI INC | [ATI](https://holderbook.com/stocks/ATI/) | $161.5M | 819,236 | 1.4% | 1 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $122.9M | 457,124 | 1.1% | 1 |
| EMCOR GROUP INC | [EME](https://holderbook.com/stocks/EME/) | $85.6M | 103,123 | 0.7% | 1 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $76.2M | 613,639 | 0.7% | 31 |
| ROLLINS INC | [ROL](https://holderbook.com/stocks/ROL/) | $66.4M | 1,590,903 | 0.6% | 2 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $54.4M | 164,035 | 0.5% | 24 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $44.0M | 25,926 | 0.4% | 21 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $41.1M | 570,063 | 0.4% | 5 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $37.5M | 81,578 | 0.3% | 7 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $30.7M | 15,427 | 0.3% | 21 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $23.0M | 320,420 | 0.2% | 31 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $19.0M | 152,800 | 0.2% | 31 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $18.9M | 120,540 | 0.2% | 21 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $18.4M | 41,267 | 0.2% | 4 |
| DIGITALOCEAN HLDGS INC | [DOCN](https://holderbook.com/stocks/DOCN/) | $15.9M | 101,350 | 0.1% | 2 |
| TERAWULF INC | [WULF](https://holderbook.com/stocks/WULF/) | $13.9M | 563,139 | 0.1% | 2 |
| CECO ENVIRONMENTAL CORP | [CECO](https://holderbook.com/stocks/CECO/) | $12.5M | 137,977 | 0.1% | 5 |
| BLOOM ENERGY CORP | [BE](https://holderbook.com/stocks/BE/) | $12.4M | 40,838 | 0.1% | 5 |
| BEL FUSE INC | [BELFB](https://holderbook.com/stocks/BELFB/) | $10.9M | 32,845 | 0.1% | 5 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $10.1M | 752,747 | 0.1% | 7 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $9.9M | 27,810 | 0.1% | 31 |
| NLIGHT INC | [LASR](https://holderbook.com/stocks/LASR/) | $9.3M | 133,448 | 0.1% | 5 |
| JFROG LTD | [FROG](https://holderbook.com/stocks/FROG/) | $8.5M | 93,117 | 0.1% | 3 |
| POWELL INDS INC | [POWL](https://holderbook.com/stocks/POWL/) | $8.4M | 29,181 | 0.1% | 5 |
| ARGAN INC | [AGX](https://holderbook.com/stocks/AGX/) | $8.2M | 10,214 | 0.1% | 5 |
| MODINE MFG CO | [MOD](https://holderbook.com/stocks/MOD/) | $7.8M | 29,335 | 0.1% | 5 |
| CLEAR SECURE INC | [YOU](https://holderbook.com/stocks/YOU/) | $7.3M | 131,773 | 0.1% | 4 |
| BROOKDALE SR LIVING INC | [BKD](https://holderbook.com/stocks/BKD/) | $7.3M | 451,082 | 0.1% | 5 |
| BWX TECHNOLOGIES INC | [BWXT](https://holderbook.com/stocks/BWXT/) | $7.2M | 36,974 | 0.1% | 5 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $7.0M | 68,968 | 0.1% | 5 |
| VSE CORP | [VSEC](https://holderbook.com/stocks/VSEC/) | $6.8M | 29,853 | 0.1% | 5 |
| SPHERE ENTERTAINMENT CO | [SPHR](https://holderbook.com/stocks/SPHR/) | $6.7M | 38,529 | 0.1% | 3 |
| SOLARIS ENERGY INFRAS INC | [SEI](https://holderbook.com/stocks/SEI/) | $6.5M | 80,324 | 0.1% | 3 |
| AMPRIUS TECHNOLOGIES INC | [AMPX](https://holderbook.com/stocks/AMPX/) | $6.5M | 465,598 | 0.1% | 4 |
| AEHR TEST SYS | [AEHR](https://holderbook.com/stocks/AEHR/) | $6.4M | 66,157 | 0.1% | 5 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $6.3M | 73,200 | 0.1% | 8 |
| DLOCAL LTD | [DLO](https://holderbook.com/stocks/DLO/) | $5.9M | 456,087 | 0.1% | 15 |
| THE REALREAL INC | [REAL](https://holderbook.com/stocks/REAL/) | $5.9M | 496,556 | 0.1% | 4 |
| TWIST BIOSCIENCE CORP | [TWST](https://holderbook.com/stocks/TWST/) | $5.7M | 55,310 | 0.0% | 2 |
| VICOR CORP | [VICR](https://holderbook.com/stocks/VICR/) | $5.7M | 14,924 | 0.0% | 2 |
| IES HOLDINGS INC | [IESC](https://holderbook.com/stocks/IESC/) | $5.3M | 7,275 | 0.0% | 5 |
| GUARDANT HEALTH INC | [GH](https://holderbook.com/stocks/GH/) | $5.2M | 34,372 | 0.0% | 5 |
| LIGHTPATH TECHNOLOGIES INC | [LPTH](https://holderbook.com/stocks/LPTH/) | $5.1M | 314,476 | 0.0% | 2 |
| PLANET LABS PBC | [PL](https://holderbook.com/stocks/PL/) | $4.9M | 149,211 | 0.0% | 3 |
| VISHAY PRECISION GROUP INC | [VPG](https://holderbook.com/stocks/VPG/) | $4.9M | 32,744 | 0.0% | 2 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $4.9M | 68,139 | 0.0% | 22 |
| RACKSPACE TECHNOLOGY INC | [RXT](https://holderbook.com/stocks/RXT/) | $4.6M | 709,189 | 0.0% | 1 |
| FLOTEK INDUSTRIES INC | [FTK](https://holderbook.com/stocks/FTK/) | $4.6M | 195,504 | 0.0% | 2 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $4.4M | 28,773 | 0.0% | 31 |
| CARPENTER TECHNOLOGY CORP | [CRS](https://holderbook.com/stocks/CRS/) | $4.2M | 6,756 | 0.0% | 5 |
| SITIME CORP | [SITM](https://holderbook.com/stocks/SITM/) | $4.1M | 5,555 | 0.0% | 2 |
| BUTTERFLY NETWORK INC | [BFLY](https://holderbook.com/stocks/BFLY/) | $4.0M | 480,502 | 0.0% | 3 |
| AXT INC | [AXTI](https://holderbook.com/stocks/AXTI/) | $3.8M | 52,707 | 0.0% | 3 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $3.8M | 8,974 | 0.0% | 5 |
| APPLIED DIGITAL CORP | [APLD](https://holderbook.com/stocks/APLD/) | $3.7M | 98,328 | 0.0% | 1 |
| VEECO INSTRS INC DEL | [VECO](https://holderbook.com/stocks/VECO/) | $3.7M | 48,314 | 0.0% | 2 |
| BABCOCK & WILCOX ENTERPRISES | [BW](https://holderbook.com/stocks/BW/) | $3.5M | 249,411 | 0.0% | 3 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $3.5M | 18,621 | 0.0% | 2 |
| TENCENT MUSIC ENTMT GROUP | [TME](https://holderbook.com/stocks/TME/) | $3.4M | 407,182 | 0.0% | 23 |
| AAR CORP | [AIR](https://holderbook.com/stocks/AIR/) | $3.4M | 23,561 | 0.0% | 2 |
| WILLIS TOWERS WATSON PLC LTD | [WTW](https://holderbook.com/stocks/WTW/) | $3.4M | 12,833 | 0.0% | 7 |
| TAYSHA GENE THERAPIES INC | [TSHA](https://holderbook.com/stocks/TSHA/) | $3.3M | 489,219 | 0.0% | 3 |
| LINDBLAD EXPEDITIONS HLDGS I | [LIND](https://holderbook.com/stocks/LIND/) | $3.2M | 114,915 | 0.0% | 2 |
| ASTRONICS CORP | [ATRO](https://holderbook.com/stocks/ATRO/) | $3.2M | 39,379 | 0.0% | 5 |
| LITTELFUSE INC | [LFUS](https://holderbook.com/stocks/LFUS/) | $3.2M | 7,016 | 0.0% | 2 |
| ASTEC INDS INC | [ASTE](https://holderbook.com/stocks/ASTE/) | $3.2M | 52,160 | 0.0% | 5 |
| LIFE TIME GROUP HOLDINGS INC | [LTH](https://holderbook.com/stocks/LTH/) | $3.1M | 76,705 | 0.0% | 5 |
| ENTRAVISION COMMUNICATIONS C | [EVC](https://holderbook.com/stocks/EVC/) | $3.1M | 236,939 | 0.0% | 1 |
| MILLICOM INTL CELLULAR S A | [TIGO](https://holderbook.com/stocks/TIGO/) | $3.0M | 33,602 | 0.0% | 5 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $3.0M | 4,018 | 0.0% | 8 |
| JOBY AVIATION INC | [JOBY](https://holderbook.com/stocks/JOBY/) | $3.0M | 332,157 | 0.0% | 5 |
| COPA HOLDINGS SA | [CPA](https://holderbook.com/stocks/CPA/) | $2.9M | 18,948 | 0.0% | 1 |
| CARDINAL INFRASTRUCTURE GROU | [CDNL](https://holderbook.com/stocks/CDNL/) | $2.9M | 30,787 | 0.0% | 1 |
| SCHOLAR ROCK HLDG CORP | [SRRK](https://holderbook.com/stocks/SRRK/) | $2.9M | 52,132 | 0.0% | 4 |
| APPLIED OPTOELECTRONICS INC | [AAOI](https://holderbook.com/stocks/AAOI/) | $2.9M | 19,272 | 0.0% | 2 |
| PROTO LABS INC | [PRLB](https://holderbook.com/stocks/PRLB/) | $2.9M | 35,011 | 0.0% | 3 |
| OPPENHEIMER HLDGS INC | [OPY](https://holderbook.com/stocks/OPY/) | $2.8M | 26,834 | 0.0% | 5 |
| PREFORMED LINE PRODS CO | [PLPC](https://holderbook.com/stocks/PLPC/) | $2.8M | 6,875 | 0.0% | 5 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +6.4% | +14.8% | -8.4% | 100% |
| Q1 2026 | -15.9% | -4.6% | -11.3% | 100% |
| Q4 2025 | -1.7% | +2.4% | -4.1% | 100% |
| Q3 2025 | +3.5% | +7.8% | -4.3% | 100% |
| Q2 2025 | +9.0% | +10.5% | -1.5% | 100% |
| Q1 2025 | -6.5% | -4.6% | -2.0% | 100% |
| Q4 2024 | +4.8% | +2.1% | +2.6% | 100% |
| Q3 2024 | +3.3% | +5.4% | -2.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $11.6B | 219 |
| Q1 2026 | $14.5B | 221 |
| Q4 2025 | $23.4B | 231 |
| Q3 2025 | $30.8B | 232 |
| Q2 2025 | $32.6B | 240 |
| Q1 2025 | $31.8B | 117 |
| Q4 2024 | $37.0B | 124 |
| Q3 2024 | $38.7B | 118 |
| Q2 2024 | $39.9B | 110 |
| Q1 2024 | $43.3B | 104 |
| Q4 2023 | $41.5B | 107 |
| Q3 2023 | $38.0B | 99 |