Polen Capital Management LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), Polen Capital Management LLC reported 103 stock positions worth $43.3 billion. Its top holding was Amazon.com (AMZN) at 14.3% of the portfolio, followed by Microsoft (MSFT, 9.4%) and Alphabet Class C (GOOG, 6.4%). Compared with Q4 2023, it opened 4 new positions, sold out of 7, added to 34 and reduced 62. The biggest buy was Thermo Fisher Scientific (TMO, shares +60%) and the biggest sale PayPal (PYPL, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- Boca Raton, FL
- CIK
- 0001034524
- Portfolio Value
- $43.3B (Q1 2024)
- SEC Filing
- 0001172661-24-002149 ↗ filed May 10, 2024
Holdings Value
Holdings 103 stocks · $43.3B
| AMZN Amazon.com Inc. | 14.34% | 34,411,241 | $6.2B | Reduce -5.1% |
| MSFT Microsoft Corp. | 9.39% | 9,665,372 | $4.1B | Reduce -2.9% |
| GOOG Alphabet Inc. Class C | 6.36% | 18,078,336 | $2.8B | Reduce -3.8% |
| V Visa Inc. Class A | 5.41% | 8,392,490 | $2.3B | Add +15.1% |
| NFLX Netflix Inc. | 5.39% | 3,839,310 | $2.3B | Reduce -5.9% |
| MA Mastercard Inc. Class A | 4.97% | 4,469,582 | $2.2B | Reduce -3.8% |
| CRM Salesforce Inc. | 4.84% | 6,954,745 | $2.1B | Reduce -4.4% |
| NOW ServiceNow Inc. | 4.69% | 2,662,881 | $2.0B | Reduce -29.9% |
| TMO Thermo Fisher Scientific Inc. | 4.38% | 3,258,927 | $1.9B | Add +60.3% |
| ABT Abbott Laboratories | 4.24% | 16,141,237 | $1.8B | Add +19.7% |
| ABNB Airbnb Inc. Class A | 4.09% | 10,729,752 | $1.8B | Add +1.6% |
| ACN Accenture PLC Class A | 3.71% | 4,628,987 | $1.6B | Reduce -3.6% |
| ADBE Adobe Inc. | 3.31% | 2,836,122 | $1.4B | Reduce -31.8% |
| ADSK Autodesk Inc. | 2.97% | 4,938,732 | $1.3B | Reduce -3.6% |
| ZTS Zoetis Inc. | 2.74% | 7,005,114 | $1.2B | Add +40.9% |
| UNH Unitedhealth Group Inc. | 2.74% | 2,393,781 | $1.2B | Reduce -1.7% |
| WDAY Workday Inc. Class A | 2.32% | 3,682,106 | $1.0B | Reduce -2.3% |
| NVO Novo-Nordisk A/S-Spons ADR | 2.30% | 7,768,779 | $997.5M | Reduce -2.4% |
| NKE Nike Inc. Class B | 2.06% | 9,471,571 | $890.1M | Add +60.4% |
| IT Gartner Inc. | 1.93% | 1,748,829 | $833.6M | Reduce -3.2% |
| LLY Eli Lilly & Co. | 1.05% | 584,806 | $455.0M | Reduce -1.7% |
| ALGN Align Technology Inc. | 0.92% | 1,216,069 | $398.8M | Reduce -4.1% |
| ICLR Icon PLC | 0.85% | 1,098,219 | $368.9M | Reduce -7.9% |
| GOOGL Alphabet Inc. Class A | 0.74% | 2,135,363 | $322.3M | Reduce -0.2% |
| PAYC Paycom Software Inc. | 0.70% | 1,520,282 | $302.6M | Add +9171.7% |
| AON Aon PLC Class A | 0.64% | 830,116 | $277.0M | Add +1.3% |
| SAP Sap SE-Sponsored ADR | 0.57% | 1,274,726 | $248.6M | Add +2.6% |
| ADP Automatic Data Processing | 0.29% | 502,060 | $125.5M | Reduce -0.2% |
| GLOB Globant SA | 0.23% | 498,574 | $100.7M | Add +39.3% |
| MDT Medtronic PLC | 0.21% | 1,065,609 | $92.9M | Add +8.3% |
| MSCI MSCI Inc. | 0.18% | 136,056 | $76.3M | Add +0.6% |
| SHOP Shopify Inc. Class A | 0.15% | 830,755 | $64.1M | Add +6.5% |
| MELI MercadoLibre Inc. | 0.12% | 33,280 | $50.3M | Reduce -22.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.11% | 51,109 | $49.6M | Add +7.0% |
| HDB HDFC Bank Ltd.-ADR | 0.09% | 710,550 | $39.8M | Add +26.1% |
| TME Tencent Music Entertainm-ADR | 0.07% | 2,662,781 | $29.8M | Add +2.6% |
| IWF iShares Russell 1000 Growth | 0.06% | 75,786 | $25.5M | Reduce -81.8% |
| UL Unilever PLC | 0.06% | 500,827 | $25.1M | Add +7.0% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.05% | 249,900 | $22.9M | Reduce -58.8% |
| DLO Dlocal Ltd. | 0.04% | 1,279,920 | $18.8M | Add +6.5% |
| PGNY Progyny Inc. | 0.03% | 377,944 | $14.4M | Add +11.0% |
| ALIT Alight Inc. Class A | 0.03% | 1,287,304 | $12.7M | Reduce -15.9% |
| YUMC Yum China Holdings Inc. | 0.03% | 307,085 | $12.2M | Add +13.2% |
| LVS Las Vegas Sands Corp. | 0.03% | 231,956 | $12.0M | Reduce -0.3% |
| HLI Houlihan Lokey Inc. | 0.03% | 90,022 | $11.5M | Reduce -29.3% |
| RVLV Revolve Group Inc. Class A | 0.03% | 520,467 | $11.0M | Add +27.0% |
| HLNE Hamilton Lane Inc. Class A | 0.02% | 91,919 | $10.4M | Reduce -3.6% |
| EXLS Exlservice Holdings Inc. | 0.02% | 310,415 | $9.9M | Add +250.2% |
| EPAM Epam Systems Inc. | 0.02% | 35,705 | $9.9M | Reduce -2.0% |
| CWAN Clearwater Analytics HDS-A | 0.02% | 546,482 | $9.7M | Add +87.9% |
| GNRC Generac Holdings Inc. | 0.02% | 74,074 | $9.3M | Add +60.6% |
| CNM Core & Main Inc. Class A | 0.02% | 160,014 | $9.2M | Reduce -14.5% |
| ALRM Alarm.com Holdings Inc. | 0.02% | 125,424 | $9.1M | Reduce -2.7% |
| GSHD Goosehead Insurance Inc. Class A | 0.02% | 132,002 | $8.8M | Reduce -13.1% |
| EEFT Euronet Worldwide Inc. | 0.02% | 75,985 | $8.4M | Reduce -2.6% |
| BL Blackline Inc. | 0.02% | 108,764 | $7.0M | Reduce -2.0% |
| MEDP Medpace Holdings Inc. | 0.02% | 16,959 | $6.9M | Add +0.5% |
| CCC CCC Intelligent Solutions Ho | 0.02% | 564,831 | $6.8M | Reduce -2.2% |
| APPF Appfolio Inc. Class A | 0.02% | 26,454 | $6.5M | Reduce -2.3% |
| WRBY Warby Parker Inc. Class A | 0.02% | 479,507 | $6.5M | Reduce -2.1% |
| FSV Firstservice Corp. | 0.01% | 35,863 | $5.9M | Reduce -2.1% |
| SITM Sitime Corp. | 0.01% | 61,563 | $5.7M | Add +77.8% |
| RH RH | 0.01% | 16,318 | $5.7M | Reduce -2.5% |
| YETI Yeti Holdings Inc. filed as YETI HLDGS INC | 0.01% | 137,974 | $5.3M | Reduce -16.1% |
| QLYS Qualys Inc. | 0.01% | 30,635 | $5.1M | Reduce -3.2% |
| WING Wingstop Inc. | 0.01% | 13,617 | $5.0M | Reduce -61.5% |
| FOXF Fox Factory Holding Corp. | 0.01% | 94,073 | $4.9M | Reduce -1.7% |
| DOCS Doximity Inc. Class A | 0.01% | 166,789 | $4.5M | Reduce -3.5% |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 0.01% | 81,167 | $4.2M | New |
| FIVE Five Below | 0.01% | 22,630 | $4.1M | Reduce -25.7% |
| AMN Amn Healthcare Services Inc. | 0.01% | 58,749 | $3.7M | Add +29.4% |
| SITE Siteone Landscape Supply Inc. | 0.01% | 20,842 | $3.6M | Reduce -2.3% |
| DT Dynatrace Inc. | 0.01% | 73,856 | $3.4M | Reduce -20.0% |
| PYPL PayPal Holdings Inc. | 0.01% | 49,478 | $3.3M | Reduce -99.8% |
| VONG Vanguard Russell 1000 Growth | 0.01% | 33,266 | $2.9M | No change |
| MORN Morningstar Inc. | 0.01% | 9,331 | $2.9M | Reduce -32.3% |
| LGIH Lgi Homes Inc. | 0.01% | 24,413 | $2.8M | Reduce -3.3% |
| XPEL Xpel Inc. | 0.01% | 50,490 | $2.7M | Reduce -11.5% |
| DAVA Endava PLC- Spon ADR | 0.01% | 70,331 | $2.7M | Add +5.8% |
| MPWR Monolithic Power Systems Inc. | 0.01% | 3,892 | $2.6M | Reduce -3.6% |
| ETSY Etsy Inc. | 0.01% | 38,239 | $2.6M | Add +11.4% |
| TECH Bio-Techne Corp. | 0.01% | 37,024 | $2.6M | Add +65.4% |
| AZPN Aspen Technology Inc. | 0.01% | 11,408 | $2.4M | Add +2.6% |
| HELE Helen of Troy Ltd. | 0.01% | 19,642 | $2.3M | Reduce -2.3% |
| CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP | 0.00% | 128,762 | $2.1M | Reduce -1.4% |
| FND Floor & Decor Holdings Inc. Class A | 0.00% | 15,655 | $2.0M | Reduce -49.9% |
| BWMN Bowman Consulting Group Ltd. | 0.00% | 55,838 | $1.9M | Reduce -1.3% |
| ACWI iShares MSCI Acwi ETF | 0.00% | 17,409 | $1.9M | Reduce -82.9% |
| MKTX Marketaxess Holdings Inc. | 0.00% | 8,165 | $1.8M | Add +83.0% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.00% | 33,154 | $1.8M | Reduce -80.0% |
| CRL Charles River Laboratories | 0.00% | 6,060 | $1.6M | Reduce -4.2% |
| CPA Copa Holdings SA Class A | 0.00% | 13,973 | $1.5M | New |
| TYL Tyler Technologies Inc. | 0.00% | 3,299 | $1.4M | Reduce -46.5% |
| POOL Pool Corp. | 0.00% | 3,296 | $1.3M | Reduce -2.9% |
| BMBL Bumble Inc. Class A | 0.00% | 98,635 | $1.1M | Reduce -80.9% |
| IWM iShares Russell 2000 ETF | 0.00% | 5,040 | $1.1M | Add +184.1% |
| TREX Trex Company Inc. | 0.00% | 10,566 | $1.1M | Reduce -60.7% |
| CATH Global X S&P 500 Ca Val ETF | 0.00% | 15,688 | $998K | Add +191.2% |
| SKIL Skillsoft Corp. | 0.00% | 78,190 | $704K | No change |
| FCX Freeport-McMoran Inc. | 0.00% | 10,410 | $489K | New |
| NTES Netease Inc.-ADR | 0.00% | 4,000 | $414K | New |
| SGOV iShares 0-3 Month Treasury B | 0.00% | 3,475 | $350K | Reduce -30.6% |
| KARO Karooooo Ltd. | 0.00% | 9,250 | $232K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $23.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| FORUM ENERGY TECHNOLOGIE (FET 9 08/04/25) | NOTE 9.000% 8/0 · principal | 23,813,049 | $23.6M | Reduce -5.3% |
Total filed on the 13F, all lines: $43.3B.
Portfolio Sells Q4 2023 → Q1 2024
| PYPL PayPal Holdings Inc. | Reduce -99.8% | 0.01% | −3.07 |
| ADBE Adobe Inc. | Reduce -31.8% | 3.31% | −2.67 |
| NOW ServiceNow Inc. | Reduce -29.9% | 4.69% | −1.78 |
| ACN Accenture PLC Class A | Reduce -3.6% | 3.71% | −0.36 |
| UNH Unitedhealth Group Inc. | Reduce -1.7% | 2.74% | −0.36 |
| ILMN Illumina Inc. | Sold out | 0.00% | −0.20 |
| ACWI iShares MSCI Acwi ETF | Reduce -82.9% | 0.00% | −0.19 |
| HELE Helen of Troy Ltd. | Reduce -2.3% | 0.01% | −0.19 |
| WDAY Workday Inc. Class A | Reduce -2.3% | 2.32% | −0.19 |
| GSHD Goosehead Insurance Inc. Class A | Reduce -13.1% | 0.02% | −0.18 |
| SGOV iShares 0-3 Month Treasury B | Reduce -30.6% | 0.00% | −0.16 |
| HLNE Hamilton Lane Inc. Class A | Reduce -3.6% | 0.02% | −0.14 |
| HLI Houlihan Lokey Inc. | Reduce -29.3% | 0.03% | −0.14 |
| LVS Las Vegas Sands Corp. | Reduce -0.3% | 0.03% | −0.14 |
| IWF iShares Russell 1000 Growth | Reduce -81.8% | 0.06% | −0.10 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -58.8% | 0.05% | −0.08 |
| MELI MercadoLibre Inc. | Reduce -22.9% | 0.12% | −0.05 |
| IT Gartner Inc. | Reduce -3.2% | 1.93% | −0.04 |
| ADSK Autodesk Inc. | Reduce -3.6% | 2.97% | −0.04 |
| GOOG Alphabet Inc. Class C | Reduce -3.8% | 6.36% | −0.03 |
| ATHM Autohome Inc.-ADR | Sold out | 0.00% | −0.02 |
| BMBL Bumble Inc. Class A | Reduce -80.9% | 0.00% | −0.02 |
| TSM Taiwan Semiconductor-SP ADR | Sold out | 0.00% | −0.01 |
| WING Wingstop Inc. | Reduce -61.5% | 0.01% | −0.01 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -80.0% | 0.00% | −0.01 |
| YETI Yeti Holdings Inc. | Reduce -16.1% | 0.01% | −0.01 |
| VUG Vanguard Mrngstar GR ETF-Sui | Sold out | 0.00% | −0.01 |
| FIVE Five Below | Reduce -25.7% | 0.01% | −0.01 |
| LGIH Lgi Homes Inc. | Reduce -3.3% | 0.01% | −0.01 |
| FOXF Fox Factory Holding Corp. | Reduce -1.7% | 0.01% | −0.00 |
| DT Dynatrace Inc. | Reduce -20.0% | 0.01% | −0.00 |
| FND Floor & Decor Holdings Inc. Class A | Reduce -49.9% | 0.00% | −0.00 |
| EPAM Epam Systems Inc. | Reduce -2.0% | 0.02% | −0.00 |
| QLYS Qualys Inc. | Reduce -3.2% | 0.01% | −0.00 |
| TYL Tyler Technologies Inc. | Reduce -46.5% | 0.00% | −0.00 |
| MORN Morningstar Inc. | Reduce -32.3% | 0.01% | −0.00 |
| TREX Trex Company Inc. | Reduce -60.7% | 0.00% | −0.00 |
| ALIT Alight Inc. Class A | Reduce -15.9% | 0.03% | −0.00 |
| WRBY Warby Parker Inc. Class A | Reduce -2.1% | 0.02% | −0.00 |
| TPLC Timothy PLN US LRG/Mid Cap | Sold out | 0.00% | −0.00 |
| DOCS Doximity Inc. Class A | Reduce -3.5% | 0.01% | −0.00 |
| XPEL Xpel Inc. | Reduce -11.5% | 0.01% | −0.00 |
| TPIF Timothy Plan Intl ETF | Sold out | 0.00% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.00 |
| FSV Firstservice Corp. | Reduce -2.1% | 0.01% | −0.00 |
| BL Blackline Inc. | Reduce -2.0% | 0.02% | −0.00 |
| BWMN Bowman Consulting Group Ltd. | Reduce -1.3% | 0.00% | −0.00 |
| CCC CCC Intelligent Solutions Ho | Reduce -2.2% | 0.02% | −0.00 |
| POOL Pool Corp. | Reduce -2.9% | 0.00% | −0.00 |
| MPWR Monolithic Power Systems Inc. | Reduce -3.6% | 0.01% | −0.00 |
Portfolio Buys Q4 2023 → Q1 2024
| TMO Thermo Fisher Scientific Inc. | Add +60.3% | 4.38% | +1.77 |
| V Visa Inc. Class A | Add +15.1% | 5.41% | +0.83 |
| PAYC Paycom Software Inc. | Add +9171.7% | 0.70% | +0.69 |
| ABT Abbott Laboratories | Add +19.7% | 4.24% | +0.66 |
| ABNB Airbnb Inc. Class A | Add +1.6% | 4.09% | +0.62 |
| NKE Nike Inc. Class B | Add +60.4% | 2.06% | +0.51 |
| ZTS Zoetis Inc. | Add +40.9% | 2.74% | +0.37 |
| GLOB Globant SA | Add +39.3% | 0.23% | +0.22 |
| SAP Sap SE-Sponsored ADR | Add +2.6% | 0.57% | +0.11 |
| HDB HDFC Bank Ltd.-ADR | Add +26.1% | 0.09% | +0.08 |
| AON Aon PLC Class A | Add +1.3% | 0.64% | +0.06 |
| ASML ASML Holding NV-NY Reg SHS | Add +7.0% | 0.11% | +0.03 |
| MDT Medtronic PLC | Add +8.3% | 0.21% | +0.02 |
| EXLS Exlservice Holdings Inc. | Add +250.2% | 0.02% | +0.02 |
| TME Tencent Music Entertainm-ADR | Add +2.6% | 0.07% | +0.01 |
| KB KB Financial Group Inc.-ADR | New | 0.01% | +0.01 |
| RVLV Revolve Group Inc. Class A | Add +27.0% | 0.03% | +0.01 |
| CWAN Clearwater Analytics HDS-A | Add +87.9% | 0.02% | +0.01 |
| GNRC Generac Holdings Inc. | Add +60.6% | 0.02% | +0.01 |
| MEDP Medpace Holdings Inc. | Add +0.5% | 0.02% | +0.00 |
| UL Unilever PLC | Add +7.0% | 0.06% | +0.00 |
| CPA Copa Holdings SA Class A | New | 0.00% | +0.00 |
| SITM Sitime Corp. | Add +77.8% | 0.01% | +0.00 |
| PGNY Progyny Inc. | Add +11.0% | 0.03% | +0.00 |
| TECH Bio-Techne Corp. | Add +65.4% | 0.01% | +0.00 |
| SHOP Shopify Inc. Class A | Add +6.5% | 0.15% | +0.00 |
| CATH Global X S&P 500 Ca Val ETF | Add +191.2% | 0.00% | +0.00 |
| FCX Freeport-McMoran Inc. | New | 0.00% | +0.00 |
| NTES Netease Inc.-ADR | New | 0.00% | +0.00 |
| YUMC Yum China Holdings Inc. | Add +13.2% | 0.03% | +0.00 |
| AMN Amn Healthcare Services Inc. | Add +29.4% | 0.01% | +0.00 |
| AZPN Aspen Technology Inc. | Add +2.6% | 0.01% | −0.00 |
| ETSY Etsy Inc. | Add +11.4% | 0.01% | −0.00 |
| DAVA Endava PLC- Spon ADR | Add +5.8% | 0.01% | −0.01 |
| DLO Dlocal Ltd. | Add +6.5% | 0.04% | −0.01 |
| MSCI MSCI Inc. | Add +0.6% | 0.18% | −0.01 |
| IWM iShares Russell 2000 ETF | Add +184.1% | 0.00% | −0.01 |
| MKTX Marketaxess Holdings Inc. | Add +83.0% | 0.00% | −0.16 |
Notes & Other Activity Q4 2023 → Q1 2024
| FORUM ENERGY TECHNOLOGIE (FET 9 08/04/25) | NOTE 9.000% 8/0 · principal | Reduce -5.3% | 23,813,049 | $23.6M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 219 | $11.6B | LLY, NVDA, MSFT, GOOG, AVGO |
| Q1 2026 | 221 | $14.5B | MSFT, GOOG, LLY, AVGO, AMZN |
| Q4 2025 | 231 | $23.4B | AMZN, MSFT, ORCL, LLY, GOOG |
| Q3 2025 | 232 | $30.8B | ORCL, MSFT, AMZN, SHOP, MA |
| Q2 2025 | 240 | $32.6B | AMZN, MSFT, ORCL, V, SHOP |
| Q1 2025 | 117 | $31.8B | AMZN, MSFT, V, ORCL, MA |
| Q4 2024 | 124 | $37.0B | AMZN, MSFT, GOOG, V, MA |
| Q3 2024Amended | 118 | $38.7B | AMZN, MSFT, GOOG, V, NOW |
| Q2 2024 | 110 | $39.9B | AMZN, MSFT, GOOG, V, NOW |
| Q1 2024 | 103 | $43.3B | AMZN, MSFT, GOOG, V, NFLX |