Polen Capital Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Polen Capital Management LLC reported 240 stock positions worth $32.6 billion. Its top holding was Amazon.com (AMZN) at 9.4% of the portfolio, followed by Microsoft (MSFT, 8.3%) and Oracle (ORCL, 8.0%). Compared with Q1 2025, it opened 151 new positions, sold out of 28, added to 9 and reduced 80. The biggest buy was a new position in Idexx Laboratories (IDXX) and the biggest sale Apple (AAPL, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- Boca Raton, FL
- CIK
- 0001034524
- Portfolio Value
- $32.6B (Q2 2025)
- SEC Filing
- 0001172661-25-003133 ↗ filed Aug 13, 2025
Holdings Value
Holdings 240 stocks · $32.6B
| AMZN Amazon.com Inc. | 9.37% | 13,921,840 | $3.1B | Reduce -21.6% |
| MSFT Microsoft Corp. | 8.28% | 5,426,123 | $2.7B | Reduce -8.7% |
| ORCL Oracle Corp. | 8.04% | 11,983,204 | $2.6B | Reduce -5.0% |
| V Visa Inc. Class A | 6.11% | 5,611,098 | $2.0B | Reduce -6.8% |
| SHOP Shopify Inc. Class A | 5.20% | 14,690,160 | $1.7B | Reduce -3.8% |
| MA Mastercard Inc. Class A | 5.16% | 2,992,048 | $1.7B | Reduce -6.8% |
| ABT Abbott Laboratories | 4.45% | 10,669,498 | $1.5B | Reduce -6.3% |
| LLY Eli Lilly & Co. | 4.16% | 1,737,910 | $1.4B | Reduce -0.9% |
| ZTS Zoetis Inc. | 4.03% | 8,421,026 | $1.3B | Reduce -4.3% |
| ADBE Adobe Inc. | 3.99% | 3,356,781 | $1.3B | Add +19.1% |
| NOW ServiceNow Inc. | 3.71% | 1,176,895 | $1.2B | Add +23.9% |
| GOOG Alphabet Inc. Class C | 3.57% | 6,562,265 | $1.2B | Reduce -11.7% |
| NFLX Netflix Inc. | 3.35% | 815,234 | $1.1B | Reduce -8.2% |
| MSCI MSCI Inc. | 3.08% | 1,741,389 | $1.0B | Reduce -6.8% |
| AON Aon PLC Class A | 3.01% | 2,745,627 | $979.5M | Reduce -8.7% |
| ABNB Airbnb Inc. Class A | 2.99% | 7,354,228 | $973.3M | Reduce -4.8% |
| TMO Thermo Fisher Scientific Inc. | 2.73% | 2,190,348 | $888.1M | Reduce -5.7% |
| SBUX Starbucks Corp. | 2.72% | 9,668,618 | $885.9M | Add +88.3% |
| ACN Accenture PLC Class A | 2.70% | 2,947,158 | $880.9M | Reduce -8.1% |
| WDAY Workday Inc. Class A | 2.63% | 3,571,930 | $857.3M | Reduce -9.4% |
| PAYC Paycom Software Inc. | 2.06% | 2,896,489 | $670.2M | Reduce -6.5% |
| IDXX Idexx Laboratories Inc. | 1.97% | 1,195,425 | $641.2M | New |
| CSGP Costar Group Inc. | 1.71% | 6,923,828 | $556.7M | Add +4.9% |
| IT Gartner Inc. | 0.97% | 779,216 | $315.0M | Reduce -6.7% |
| MELI MercadoLibre Inc. | 0.50% | 62,189 | $162.5M | Reduce -9.3% |
| SAP Sap SE-Sponsored ADR | 0.45% | 486,471 | $147.9M | Reduce -10.4% |
| GOOGL Alphabet Inc. Class A | 0.34% | 620,019 | $109.3M | Add +1.5% |
| WTW Willis Towers Watson PLC | 0.30% | 314,075 | $96.3M | Reduce -14.3% |
| IWF iShares Russell 1000 Growth | 0.29% | 225,609 | $95.8M | Reduce -41.5% |
| ICLR Icon PLC | 0.24% | 540,410 | $78.6M | Reduce -14.9% |
| HDB HDFC Bank Ltd.-ADR | 0.13% | 570,679 | $43.8M | Reduce -12.3% |
| ASML ASML Holding NV-NY Reg SHS | 0.11% | 44,525 | $35.7M | Reduce -15.5% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.10% | 2,486,803 | $34.1M | Reduce -16.3% |
| MNDY Monday.com Ltd. | 0.09% | 97,575 | $30.7M | Add +36.9% |
| ADP Automatic Data Processing | 0.09% | 94,535 | $29.2M | Reduce -43.2% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.08% | 489,827 | $25.5M | Add +105.0% |
| GLOB Globant SA | 0.08% | 272,981 | $24.8M | Reduce -64.8% |
| SPOT Spotify Technology SA | 0.07% | 29,446 | $22.6M | Reduce -24.0% |
| MDT Medtronic PLC | 0.06% | 234,886 | $20.5M | Reduce -62.7% |
| TME Tencent Music Entertainm-ADR | 0.06% | 991,883 | $19.3M | Reduce -49.9% |
| IBN Icici Bank Ltd.-Spon ADR | 0.05% | 500,475 | $16.8M | New |
| SE Sea Ltd.-ADR | 0.04% | 83,932 | $13.4M | New |
| NVO Novo-Nordisk A/S-Spons ADR | 0.04% | 178,669 | $12.3M | Reduce -82.2% |
| ACWI iShares MSCI Acwi ETF | 0.03% | 88,558 | $11.4M | Reduce -77.0% |
| MMYT Makemytrip Ltd. | 0.03% | 104,962 | $10.3M | New |
| AGX Argan Inc. | 0.03% | 44,821 | $9.9M | New |
| WGS Genedx Holdings Corp. | 0.02% | 80,980 | $7.5M | New |
| DLO Dlocal Ltd. | 0.02% | 605,885 | $6.9M | Reduce -3.5% |
| PDD PDD Holdings Inc. | 0.02% | 64,309 | $6.7M | Reduce -2.9% |
| BWXT BWX Technologies Inc. | 0.02% | 41,037 | $5.9M | New |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.02% | 12,907 | $5.7M | Reduce -11.5% |
| POWL Powell Industries Inc. | 0.02% | 25,173 | $5.3M | New |
| VSEC Vse Corp. | 0.02% | 39,583 | $5.2M | New |
| KARO Karooooo Ltd. | 0.01% | 84,767 | $4.2M | Add +1128.7% |
| IESC Ies Holdings Inc. filed as IES HLDGS INC | 0.01% | 13,821 | $4.1M | New |
| CVNA Carvana Co. | 0.01% | 11,695 | $3.9M | New |
| JOBY Joby Aviation Inc. | 0.01% | 355,465 | $3.8M | New |
| CATH Global X S&P 500 Ca Val ETF | 0.01% | 46,993 | $3.5M | Reduce -11.9% |
| DAVE Dave Inc. | 0.01% | 12,621 | $3.4M | New |
| CCJ Cameco Corp. | 0.01% | 45,616 | $3.4M | New |
| SMR Nuscale Power Corp. | 0.01% | 85,426 | $3.4M | New |
| SOFI Sofi Technologies Inc. | 0.01% | 170,896 | $3.1M | New |
| NVDA Nvidia Corp. | 0.01% | 17,042 | $2.7M | New |
| CRS Carpenter Technology | 0.01% | 9,475 | $2.6M | New |
| ODD Oddity Tech Ltd. Class A | 0.01% | 33,751 | $2.5M | New |
| WRBY Warby Parker Inc. Class A | 0.01% | 105,204 | $2.3M | Reduce -28.5% |
| CVLT Commvault Systems Inc. | 0.01% | 13,142 | $2.3M | New |
| IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A | 0.01% | 163,598 | $2.3M | New |
| CRDO Credo Technology Group Holdi | 0.01% | 24,417 | $2.3M | New |
| LMB Limbach Holdings Inc. | 0.01% | 15,717 | $2.2M | New |
| TSLA Tesla Inc. | 0.01% | 6,722 | $2.1M | New |
| HCI Hci Group Inc. | 0.01% | 13,972 | $2.1M | New |
| ACHR Archer Aviation Inc. Class A | 0.01% | 194,666 | $2.1M | New |
| AFRM Affirm Holdings Inc. | 0.01% | 30,027 | $2.1M | New |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.01% | 187,687 | $2.1M | New |
| CNM Core & Main Inc. Class A | 0.01% | 34,013 | $2.1M | Reduce -72.8% |
| ENVX Enovix Corp. | 0.01% | 193,681 | $2.0M | New |
| BELFB Bel Fuse Inc. Class B | 0.01% | 20,386 | $2.0M | New |
| GGAL Grupo Financiero Galicia-ADR | 0.01% | 39,394 | $2.0M | New |
| UNH Unitedhealth Group Inc. | 0.01% | 6,174 | $1.9M | Reduce -99.4% |
| GPGI Gpgi Inc. filed as COMPOSECURE INC | 0.01% | 135,767 | $1.9M | New |
| MOD Modine Manufacturing Co. | 0.01% | 19,366 | $1.9M | New |
| EXLS Exlservice Holdings Inc. | 0.01% | 42,201 | $1.8M | Reduce -83.8% |
| REAL BROKERAGE INC/THE filed as THE REAL BROKERAGE INC | 0.01% | 401,325 | $1.8M | New |
| FTI Technipfmc PLC | 0.01% | 51,582 | $1.8M | New |
| AAPL Apple Inc. | 0.01% | 8,526 | $1.7M | Reduce -99.7% |
| AMSC American Superconductor Corp. | 0.01% | 47,221 | $1.7M | New |
| UBER Uber Technologies Inc. | 0.01% | 18,526 | $1.7M | New |
| GSHD Goosehead Insurance Inc. Class A | 0.01% | 16,369 | $1.7M | Reduce -73.3% |
| TLN Talen Energy Corp. | 0.01% | 5,826 | $1.7M | New |
| FTAI Ftai Aviation Ltd. | 0.01% | 14,662 | $1.7M | New |
| PCTY Paylocity Holding Corp. | 0.01% | 9,223 | $1.7M | Reduce -70.6% |
| ATRO Astronics Corp. | 0.01% | 49,791 | $1.7M | New |
| ADPT Adaptive Biotechnologies | 0.01% | 142,257 | $1.7M | New |
| TWLO Twilio Inc. Class A | 0.01% | 13,313 | $1.7M | New |
| BE Bloom Energy Corp. Class A | 0.01% | 68,316 | $1.6M | New |
| UTI Universal Technical Institut | 0.01% | 48,007 | $1.6M | New |
| KTOS Kratos Defense & Security | 0.00% | 34,531 | $1.6M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.00% | 2,582 | $1.6M | Add +78.3% |
| PRCH Porch Group Inc. | 0.00% | 135,022 | $1.6M | New |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -99.7% | 0.01% | −1.86 |
| UNH Unitedhealth Group Inc. | Reduce -99.4% | 0.01% | −1.70 |
| AMZN Amazon.com Inc. | Reduce -21.6% | 9.37% | −1.23 |
| TMO Thermo Fisher Scientific Inc. | Reduce -5.7% | 2.73% | −0.90 |
| AON Aon PLC Class A | Reduce -8.7% | 3.01% | −0.76 |
| ZTS Zoetis Inc. | Reduce -4.3% | 4.03% | −0.52 |
| V Visa Inc. Class A | Reduce -6.8% | 6.11% | −0.52 |
| ACN Accenture PLC Class A | Reduce -8.1% | 2.70% | −0.44 |
| LLY Eli Lilly & Co. | Reduce -0.9% | 4.16% | −0.39 |
| MA Mastercard Inc. Class A | Reduce -6.8% | 5.16% | −0.37 |
| ABT Abbott Laboratories | Reduce -6.3% | 4.45% | −0.29 |
| WDAY Workday Inc. Class A | Reduce -9.4% | 2.63% | −0.26 |
| MSCI MSCI Inc. | Reduce -6.8% | 3.08% | −0.24 |
| GLOB Globant SA | Reduce -64.8% | 0.08% | −0.21 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -82.2% | 0.04% | −0.18 |
| IWF iShares Russell 1000 Growth | Reduce -41.5% | 0.29% | −0.14 |
| IT Gartner Inc. | Reduce -6.7% | 0.97% | −0.13 |
| MDT Medtronic PLC | Reduce -62.7% | 0.06% | −0.11 |
| ICLR Icon PLC | Reduce -14.9% | 0.24% | −0.11 |
| ACWI iShares MSCI Acwi ETF | Reduce -77.0% | 0.03% | −0.11 |
| WTW Willis Towers Watson PLC | Reduce -14.3% | 0.30% | −0.09 |
| GOOG Alphabet Inc. Class C | Reduce -11.7% | 3.57% | −0.07 |
| ADP Automatic Data Processing | Reduce -43.2% | 0.09% | −0.07 |
| PAYC Paycom Software Inc. | Reduce -6.5% | 2.06% | −0.07 |
| EXLS Exlservice Holdings Inc. | Reduce -83.8% | 0.01% | −0.03 |
| TME Tencent Music Entertainm-ADR | Reduce -49.9% | 0.06% | −0.03 |
| HLNE Hamilton Lane Inc. Class A | Reduce -80.8% | 0.00% | −0.02 |
| MEDP Medpace Holdings Inc. | Reduce -81.2% | 0.00% | −0.02 |
| GSHD Goosehead Insurance Inc. Class A | Reduce -73.3% | 0.01% | −0.02 |
| NSIT Insight Enterprises Inc. | Reduce -76.5% | 0.00% | −0.02 |
| LVS Las Vegas Sands Corp. | Reduce -90.6% | 0.00% | −0.02 |
| HLI Houlihan Lokey Inc. | Reduce -92.1% | 0.00% | −0.01 |
| CCC CCC Intelligent Solutions Ho | Reduce -92.4% | 0.00% | −0.01 |
| FSV Firstservice Corp. | Reduce -92.4% | 0.00% | −0.01 |
| YUMC Yum China Holdings Inc. | Sold out | 0.00% | −0.01 |
| PGNY Progyny Inc. | Reduce -75.3% | 0.00% | −0.01 |
| AIT Applied Industrial Tech Inc. | Reduce -92.6% | 0.00% | −0.01 |
| RMBS Rambus Inc. | Reduce -81.5% | 0.00% | −0.01 |
| TREX Trex Company Inc. | Reduce -92.4% | 0.00% | −0.01 |
| PCTY Paylocity Holding Corp. | Reduce -70.6% | 0.01% | −0.01 |
| CNM Core & Main Inc. Class A | Reduce -72.8% | 0.01% | −0.01 |
| ELF Elf Beauty Inc. | Reduce -94.4% | 0.00% | −0.01 |
| GNRC Generac Holdings Inc. | Reduce -92.4% | 0.00% | −0.01 |
| RGEN Repligen Corp. | Reduce -93.8% | 0.00% | −0.01 |
| AAON Aaon Inc. | Reduce -93.5% | 0.00% | −0.01 |
| BROS Dutch Bros Inc. Class A | Reduce -78.5% | 0.00% | −0.01 |
| CWAN Clearwater Analytics HDS-A | Reduce -90.6% | 0.00% | −0.01 |
| EPAM Epam Systems Inc. | Sold out | 0.00% | −0.01 |
| TECH Bio-Techne Corp. | Sold out | 0.00% | −0.01 |
| RVLV Revolve Group Inc. Class A | Reduce -76.2% | 0.00% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| IDXX Idexx Laboratories Inc. | New | 1.97% | +1.97 |
| NOW ServiceNow Inc. | Add +23.9% | 3.71% | +1.34 |
| SBUX Starbucks Corp. | Add +88.3% | 2.72% | +1.14 |
| ADBE Adobe Inc. | Add +19.1% | 3.99% | +0.59 |
| CSGP Costar Group Inc. | Add +4.9% | 1.71% | +0.07 |
| IBN Icici Bank Ltd.-Spon ADR | New | 0.05% | +0.05 |
| ONON On Holding AG Class A | Add +105.0% | 0.08% | +0.05 |
| SE Sea Ltd.-ADR | New | 0.04% | +0.04 |
| MNDY Monday.com Ltd. | Add +36.9% | 0.09% | +0.04 |
| GOOGL Alphabet Inc. Class A | Add +1.5% | 0.34% | +0.04 |
| MMYT Makemytrip Ltd. | New | 0.03% | +0.03 |
| AGX Argan Inc. | New | 0.03% | +0.03 |
| WGS Genedx Holdings Corp. | New | 0.02% | +0.02 |
| BWXT BWX Technologies Inc. | New | 0.02% | +0.02 |
| POWL Powell Industries Inc. | New | 0.02% | +0.02 |
| VSEC Vse Corp. | New | 0.02% | +0.02 |
| IESC Ies Holdings Inc. | New | 0.01% | +0.01 |
| CVNA Carvana Co. | New | 0.01% | +0.01 |
| KARO Karooooo Ltd. | Add +1128.7% | 0.01% | +0.01 |
| JOBY Joby Aviation Inc. | New | 0.01% | +0.01 |
| CCJ Cameco Corp. | New | 0.01% | +0.01 |
| DAVE Dave Inc. | New | 0.01% | +0.01 |
| SMR Nuscale Power Corp. | New | 0.01% | +0.01 |
| SOFI Sofi Technologies Inc. | New | 0.01% | +0.01 |
| NVDA Nvidia Corp. | New | 0.01% | +0.01 |
| CRS Carpenter Technology | New | 0.01% | +0.01 |
| ODD Oddity Tech Ltd. Class A | New | 0.01% | +0.01 |
| CVLT Commvault Systems Inc. | New | 0.01% | +0.01 |
| IRS Irsa -SP ADR | New | 0.01% | +0.01 |
| CRDO Credo Technology Group Holdi | New | 0.01% | +0.01 |
| LMB Limbach Holdings Inc. | New | 0.01% | +0.01 |
| TSLA Tesla Inc. | New | 0.01% | +0.01 |
| ACHR Archer Aviation Inc. Class A | New | 0.01% | +0.01 |
| HCI Hci Group Inc. | New | 0.01% | +0.01 |
| AFRM Affirm Holdings Inc. | New | 0.01% | +0.01 |
| LOMA Loma Negra Cia Ind-Spon ADR | New | 0.01% | +0.01 |
| BELFB Bel Fuse Inc. Class B | New | 0.01% | +0.01 |
| ENVX Enovix Corp. | New | 0.01% | +0.01 |
| GGAL Grupo Financiero Galicia-ADR | New | 0.01% | +0.01 |
| GPGI Gpgi Inc. | New | 0.01% | +0.01 |
| MOD Modine Manufacturing Co. | New | 0.01% | +0.01 |
| REAL BROKERAGE INC/THE | New | 0.01% | +0.01 |
| FTI Technipfmc PLC | New | 0.01% | +0.01 |
| AMSC American Superconductor Corp. | New | 0.01% | +0.01 |
| UBER Uber Technologies Inc. | New | 0.01% | +0.01 |
| TLN Talen Energy Corp. | New | 0.01% | +0.01 |
| FTAI Ftai Aviation Ltd. | New | 0.01% | +0.01 |
| ADPT Adaptive Biotechnologies | New | 0.01% | +0.01 |
| ATRO Astronics Corp. | New | 0.01% | +0.01 |
| TWLO Twilio Inc. Class A | New | 0.01% | +0.01 |
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 |