Polen Capital Management 13F, Q1 2025
Polen Capital · quarter ending 31 March 2025 · filed 12 May 2025 · SEC CIK 1034524
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2025
The 25 largest of 117 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2024 filing.
| Company | Ticker | Value | % of book | vs Q4 2024 |
|---|---|---|---|---|
| AMAZON COM INC | AMZN | $3.38B | 10.6% | -9% shares |
| MICROSOFT CORP | MSFT | $2.23B | 7.0% | -7% shares |
| VISA INC | V | $2.11B | 6.6% | -8% shares |
| ORACLE CORP | ORCL | $1.76B | 5.5% | +18% shares |
| MASTERCARD INCORPORATED | MA | $1.76B | 5.5% | -8% shares |
| ABBOTT LABS | ABT | $1.51B | 4.7% | -10% shares |
| SHOPIFY INC | SHOP | $1.46B | 4.6% | -11% shares |
| ELI LILLY & CO | LLY | $1.45B | 4.5% | +35% shares |
| ZOETIS INC | ZTS | $1.45B | 4.5% | +18% shares |
| AON PLC | $1.20B | 3.8% | +318% shares | |
| ALPHABET INC | GOOG | $1.16B | 3.6% | -33% shares |
| THERMO FISHER SCIENTIFIC INC | TMO | $1.16B | 3.6% | -6% shares |
| ADOBE INC | ADBE | $1.08B | 3.4% | -7% shares |
| MSCI INC | MSCI | $1.06B | 3.3% | -8% shares |
| ACCENTURE PLC IRELAND | $1.00B | 3.1% | -9% shares | |
| AIRBNB INC | ABNB | $923.02M | 2.9% | -6% shares |
| WORKDAY INC | WDAY | $921.16M | 2.9% | -8% shares |
| NETFLIX INC | NFLX | $828.15M | 2.6% | -49% shares |
| SERVICENOW INC | NOW | $756.12M | 2.4% | -42% shares |
| PAYCOM SOFTWARE INC | PAYC | $676.82M | 2.1% | -2% shares |
| APPLE INC | AAPL | $595.56M | 1.9% | -57% shares |
| UNITEDHEALTH GROUP INC | UNH | $543.43M | 1.7% | -8% shares |
| COSTAR GROUP INC | CSGP | $523.06M | 1.6% | unchanged |
| STARBUCKS CORP | SBUX | $503.54M | 1.6% | new |
| GARTNER INC | IT | $350.70M | 1.1% | -7% shares |
What changed since Q4 2024
Against the Q4 2024 filing, Polen Capital Management opened 7 new positions, added to 28, trimmed 73, left 9 unchanged and exited 14. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Exited
- UNILEVER PLCwas $13.84M
- YETIwas $3.78M
- ALRMwas $1.30M
- FOXFwas $1.25M
- BAHwas $1.15M
- USHYwas $967.6K
- ALGNwas $939.1K
- KBwas $826.7K
and 6 more
Other quarters
Source: SEC Form 13F-HR, accession 0001172661-25-001713, filed by POLEN CAPITAL MANAGEMENT LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.