Polen Capital Management 13F, Q4 2025
Polen Capital · quarter ending 31 December 2025 · filed 12 February 2026 · SEC CIK 1034524
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 3 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q4 2025
The 25 largest of 231 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| AMAZON COM INC | AMZN | $2.00B | 8.5% | -23% shares |
| MICROSOFT CORP | MSFT | $1.89B | 8.1% | -22% shares |
| ORACLE CORP | ORCL | $1.40B | 6.0% | -23% shares |
| ELI LILLY & CO | LLY | $1.34B | 5.7% | -23% shares |
| ALPHABET INC | GOOG | $1.26B | 5.4% | -13% shares |
| BROADCOM INC | AVGO | $1.22B | 5.2% | -21% shares |
| MASTERCARD INCORPORATED | MA | $1.22B | 5.2% | -22% shares |
| VISA INC | V | $1.18B | 5.1% | -22% shares |
| SHOPIFY INC | SHOP | $1.16B | 5.0% | -35% shares |
| NVIDIA CORPORATION | NVDA | $993.69M | 4.2% | -15% shares |
| SERVICENOW INC | NOW | $870.24M | 3.7% | +405% shares |
| MSCI INC | MSCI | $763.68M | 3.3% | -16% shares |
| ZOETIS INC | ZTS | $699.89M | 3.0% | -26% shares |
| AON PLC | $651.52M | 2.8% | -26% shares | |
| IDEXX LABS INC | IDXX | $649.83M | 2.8% | -15% shares |
| STARBUCKS CORP | SBUX | $571.39M | 2.4% | -24% shares |
| ACCENTURE PLC IRELAND | $505.13M | 2.2% | -24% shares | |
| ABBOTT LABS | ABT | $496.43M | 2.1% | -47% shares |
| INTUITIVE SURGICAL INC | ISRG | $477.22M | 2.0% | new |
| ADOBE INC | ADBE | $470.94M | 2.0% | -28% shares |
| AIRBNB INC | ABNB | $411.33M | 1.8% | -24% shares |
| SYNOPSYS INC | SNPS | $396.86M | 1.7% | -19% shares |
| BOSTON SCIENTIFIC CORP | BSX | $383.26M | 1.6% | -28% shares |
| ISHARES TR | IWF | $367.32M | 1.6% | +241% shares |
| INTUIT | INTU | $339.59M | 1.4% | -23% shares |
What changed since Q3 2025
Against the Q3 2025 filing, Polen Capital Management opened 56 new positions, added to 39, trimmed 116, left 20 unchanged and exited 57. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 48 more
Exited
- HYGwas $16.24M
- RSPwas $8.49M
- VISTwas $7.26M
- QQEWwas $3.18M
- VOwas $2.55M
- CORTwas $2.36M
- CVLTwas $1.96M
- WRBYwas $1.84M
and 49 more
Other quarters
Source: SEC Form 13F-HR, accession 0001172661-26-000654, 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.