Polen Capital Management 13F, Q2 2025
Polen Capital · quarter ending 30 June 2025 · filed 13 August 2025 · SEC CIK 1034524
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q2 2025
The 25 largest of 240 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| AMAZON COM INC | AMZN | $3.05B | 9.4% | -22% shares |
| MICROSOFT CORP | MSFT | $2.70B | 8.3% | -9% shares |
| ORACLE CORP | ORCL | $2.62B | 8.0% | -5% shares |
| VISA INC | V | $1.99B | 6.1% | -7% shares |
| SHOPIFY INC | SHOP | $1.69B | 5.2% | -4% shares |
| MASTERCARD INCORPORATED | MA | $1.68B | 5.2% | -7% shares |
| ABBOTT LABS | ABT | $1.45B | 4.5% | -6% shares |
| ELI LILLY & CO | LLY | $1.35B | 4.2% | unchanged |
| ZOETIS INC | ZTS | $1.31B | 4.0% | -4% shares |
| ADOBE INC | ADBE | $1.30B | 4.0% | +19% shares |
| SERVICENOW INC | NOW | $1.21B | 3.7% | +24% shares |
| ALPHABET INC | GOOG | $1.16B | 3.6% | -12% shares |
| NETFLIX INC | NFLX | $1.09B | 3.4% | -8% shares |
| MSCI INC | MSCI | $1.00B | 3.1% | -7% shares |
| AON PLC | $979.53M | 3.0% | -9% shares | |
| AIRBNB INC | ABNB | $973.26M | 3.0% | -5% shares |
| THERMO FISHER SCIENTIFIC INC | TMO | $888.10M | 2.7% | -6% shares |
| STARBUCKS CORP | SBUX | $885.94M | 2.7% | +88% shares |
| ACCENTURE PLC IRELAND | $880.88M | 2.7% | -8% shares | |
| WORKDAY INC | WDAY | $857.26M | 2.6% | -9% shares |
| PAYCOM SOFTWARE INC | PAYC | $670.25M | 2.1% | -7% shares |
| IDEXX LABS INC | IDXX | $641.15M | 2.0% | new |
| COSTAR GROUP INC | CSGP | $556.68M | 1.7% | +5% shares |
| GARTNER INC | IT | $314.97M | 1.0% | -7% shares |
| MERCADOLIBRE INC | MELI | $162.54M | 0.5% | -9% shares |
What changed since Q1 2025
Against the Q1 2025 filing, Polen Capital Management opened 151 new positions, added to 8, trimmed 78, left 3 unchanged and exited 28. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001172661-25-003133, 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.