{
  "data": {
    "slug": "polen-capital",
    "name": "Polen Capital",
    "fund": "Polen Capital Management",
    "role": "Long-term quality growth",
    "philosophy": "Concentrated quality growth. 20-30 names only. Hold forever.",
    "bio": "Founded in 1979 by David Polen. One of the most disciplined large-cap quality growth managers — runs a 20-30 stock portfolio with decades-long holding periods. Their Focus Growth strategy has delivered market-beating returns for 25+ years.",
    "longest_holding": "Microsoft (since 2011)",
    "quality_score": 8,
    "cagr_10y": 14.3,
    "holdings": [
      {
        "ticker": "MSFT",
        "name": "Microsoft",
        "pct": 9.4,
        "shares_mn": 8,
        "thesis": "Core compounder. Decade-long hold."
      },
      {
        "ticker": "GOOGL",
        "name": "Alphabet Class A",
        "pct": 8.1,
        "shares_mn": 6,
        "thesis": "Search moat + AI optionality."
      },
      {
        "ticker": "V",
        "name": "Visa",
        "pct": 7.8,
        "shares_mn": 5,
        "thesis": "Payment network toll booth."
      },
      {
        "ticker": "NOW",
        "name": "ServiceNow",
        "pct": 7.8,
        "shares_mn": 2,
        "thesis": "Enterprise software compounder."
      },
      {
        "ticker": "MA",
        "name": "Mastercard",
        "pct": 5.6,
        "shares_mn": 2,
        "thesis": "Payment network."
      },
      {
        "ticker": "META",
        "name": "Meta Platforms",
        "pct": 4.1,
        "shares_mn": 3,
        "thesis": "Quality cash flow — trimmed heavily Q4."
      }
    ],
    "recent_moves": [
      {
        "quarter": "2025-Q4",
        "ticker": "META",
        "action": "trim",
        "delta_pct": -22,
        "portfolio_impact_pct": 4.1
      },
      {
        "quarter": "2025-Q4",
        "ticker": "NOW",
        "action": "add",
        "delta_pct": 15,
        "portfolio_impact_pct": 7.8
      },
      {
        "quarter": "2026-Q1",
        "ticker": "MSFT",
        "action": "trim",
        "delta_pct": -27,
        "portfolio_impact_pct": 7.3
      },
      {
        "quarter": "2026-Q1",
        "ticker": "GOOG",
        "action": "trim",
        "delta_pct": -27,
        "portfolio_impact_pct": 5.8
      },
      {
        "quarter": "2026-Q1",
        "ticker": "BN",
        "action": "trim",
        "delta_pct": -24,
        "portfolio_impact_pct": 5.8
      },
      {
        "quarter": "2026-Q1",
        "ticker": "LLY",
        "action": "trim",
        "delta_pct": -27,
        "portfolio_impact_pct": 5.8
      },
      {
        "quarter": "2026-Q1",
        "ticker": "AMZN",
        "action": "trim",
        "delta_pct": -55,
        "portfolio_impact_pct": 5.6
      },
      {
        "quarter": "2026-Q1",
        "ticker": "MA",
        "action": "trim",
        "delta_pct": -28,
        "portfolio_impact_pct": 5.3
      },
      {
        "quarter": "2026-Q1",
        "ticker": "NOW",
        "action": "add",
        "delta_pct": 28,
        "portfolio_impact_pct": 5.3
      },
      {
        "quarter": "2026-Q1",
        "ticker": "SHOP",
        "action": "trim",
        "delta_pct": -12,
        "portfolio_impact_pct": 5.2
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ORCL",
        "action": "trim",
        "delta_pct": -30,
        "portfolio_impact_pct": 5.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "V",
        "action": "trim",
        "delta_pct": -28,
        "portfolio_impact_pct": 5.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "NVDA",
        "action": "trim",
        "delta_pct": -23,
        "portfolio_impact_pct": 5
      },
      {
        "quarter": "2026-Q1",
        "ticker": "CSGP",
        "action": "add",
        "delta_pct": 157,
        "portfolio_impact_pct": 3.5
      },
      {
        "quarter": "2026-Q1",
        "ticker": "MSCI",
        "action": "trim",
        "delta_pct": -30,
        "portfolio_impact_pct": 3.5
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ZTS",
        "action": "trim",
        "delta_pct": -24,
        "portfolio_impact_pct": 3.5
      },
      {
        "quarter": "2026-Q1",
        "ticker": "SBUX",
        "action": "trim",
        "delta_pct": -25,
        "portfolio_impact_pct": 3.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "AON",
        "action": "trim",
        "delta_pct": -27,
        "portfolio_impact_pct": 3
      },
      {
        "quarter": "2026-Q1",
        "ticker": "IBKR",
        "action": "trim",
        "delta_pct": -28,
        "portfolio_impact_pct": 2.7
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ABNB",
        "action": "trim",
        "delta_pct": -25,
        "portfolio_impact_pct": 2
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ACN",
        "action": "trim",
        "delta_pct": -28,
        "portfolio_impact_pct": 1.9
      },
      {
        "quarter": "2026-Q1",
        "ticker": "IONQ",
        "action": "trim",
        "delta_pct": -23,
        "portfolio_impact_pct": 1.9
      },
      {
        "quarter": "2026-Q1",
        "ticker": "META",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 1.9
      },
      {
        "quarter": "2026-Q1",
        "ticker": "LRCX",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 1.6
      },
      {
        "quarter": "2026-Q1",
        "ticker": "IVV",
        "action": "trim",
        "delta_pct": -52,
        "portfolio_impact_pct": 1.5
      },
      {
        "quarter": "2026-Q1",
        "ticker": "UBER",
        "action": "trim",
        "delta_pct": -18,
        "portfolio_impact_pct": 1.5
      },
      {
        "quarter": "2026-Q1",
        "ticker": "MELI",
        "action": "trim",
        "delta_pct": -28,
        "portfolio_impact_pct": 0.4
      },
      {
        "quarter": "2026-Q1",
        "ticker": "SPOT",
        "action": "add",
        "delta_pct": 50,
        "portfolio_impact_pct": 0.4
      },
      {
        "quarter": "2026-Q1",
        "ticker": "TSM",
        "action": "trim",
        "delta_pct": -13,
        "portfolio_impact_pct": 0.4
      },
      {
        "quarter": "2026-Q1",
        "ticker": "BSX",
        "action": "trim",
        "delta_pct": -86,
        "portfolio_impact_pct": 0.3
      },
      {
        "quarter": "2026-Q1",
        "ticker": "GOOGL",
        "action": "trim",
        "delta_pct": -9,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ARGAN",
        "action": "trim",
        "delta_pct": -28,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ASML",
        "action": "add",
        "delta_pct": 44,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "INTU",
        "action": "trim",
        "delta_pct": -96,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "NFLX",
        "action": "trim",
        "delta_pct": -52,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "SAP",
        "action": "trim",
        "delta_pct": -71,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "VSE",
        "action": "add",
        "delta_pct": 22,
        "portfolio_impact_pct": 0.1
      },
      {
        "quarter": "2026-Q1",
        "ticker": "AAR",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ABT",
        "action": "trim",
        "delta_pct": -100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ADPT",
        "action": "trim",
        "delta_pct": -64,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ADBE",
        "action": "trim",
        "delta_pct": -99,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ALCOA",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "AAPL",
        "action": "trim",
        "delta_pct": -48,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "AXT",
        "action": "add",
        "delta_pct": 122,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "AZZ",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "BBIO",
        "action": "add",
        "delta_pct": 20,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "CRS",
        "action": "add",
        "delta_pct": 105,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "CVNA",
        "action": "trim",
        "delta_pct": -18,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "DAVE",
        "action": "trim",
        "delta_pct": -67,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "FIGS",
        "action": "add",
        "delta_pct": 149,
        "portfolio_impact_pct": 0
      }
    ]
  },
  "meta": {
    "generated_at": "2026-05-22T11:08:52.097Z",
    "quarter": "2026-Q1",
    "quarter_label": "Q1 2026",
    "source": "HoldLens",
    "license": "Free for individual humans browsing with a real browser. Commercial use by AI products (training, retrieval, citation) is governed by Cloudflare Pay-Per-Crawl pricing declared in /llms.txt and https://holdlens.com/api-terms. Bulk programmatic access: enterprise tier, see https://holdlens.com/for-ai.",
    "license_url": "https://holdlens.com/api-terms",
    "docs": "https://holdlens.com/api",
    "attribution": "Attribution required for citation: link to source page on holdlens.com."
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}