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Investor profile

Polen Capital

Polen Capital Management · Long-term quality growth · Net worth: —

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.

"Concentrated quality growth. 20-30 names only. Hold forever."

Data verified 2026-05-14 · sourced from SEC EDGAR

Informational only — not investment advice. HoldLens tracks institutional positioning from public 13F filings. We are not a registered investment advisor and do not provide recommendations to buy or sell securities. Our 2026 backtest over 221 ticker-quarter pairs found the ConvictionScore has no predictive signal for forward returns (Pearson r = −0.12). The rankings describe what tracked superinvestors were accumulating or selling at the latest 13F snapshot — useful as market intelligence, not as personal investment advice. 13F data is reported with a 45-day SEC filing lag.

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Latest 13F: Q1 2026(8d ago)Next due: Q2 2026by 2026-08-14● RSS — move alerts

Tracked positions

Top concentration

56%

Longest holding

Microsoft (since 2011)

Polen's portfolio concentration: top-1, top-5, top-10

Diversified

Top 1 · MSFT

7.3%

Top 5 combined

30.3%

Top 10 combined

56.3%

Tracked positions

MSFTTop-5 zoneTop-10

Polen's single largest bet is MSFT at 7.3% of tracked positions. Exposure is spread across a broader basket, reducing single-name risk.

Realized 10-year track record

Polen Focus Growth strategy

See leaderboard →

10y CAGR

14.3%

net of fees

Alpha vs S&P

+1.2%

vs 13.1% benchmark

Win rate

60%

years beating S&P

Quality score

5.6

computed 0–10

Best year

+38%

Worst year

-39%

Cumulative 10y

3.8×

Volatility

22%

Polen Capital's recent 13F moves: buys, adds, trims, and exits

Manager quality score: 5.6/10

Every tracked 13F move — buys, adds, trims, and exits — over the last two quarters.

Q1 2026

26 buys · 67 sells

Ticker	Activity	Share change	% portfolio
CSGP	Add 157%	+7.68M	3.50%
FIGS	Add 149%	+73K	0.00%
AXT	Add 122%	+27K	0.00%
CRS	Add 105%	+6K	0.00%
JFROG	Add 105%	+10K	0.00%
GRBK	Add 102%	+7K	0.00%
META	Buy (new)	+477K	1.90%
LRCX	Buy (new)	+1.05M	1.60%
AAR	Buy (new)	+16K	0.00%
ALCOA	Buy (new)	+5K	0.00%
AZZ	Buy (new)	+14K	0.00%
FLUOR	Buy (new)	+21K	0.00%
GPGI	Buy (new)	+33K	0.00%
IES	Buy (new)	+12K	0.00%
LFUS	Buy (new)	+5K	0.00%
QXO	Buy (new)	+11K	0.00%
SHAK	Buy (new)	+19K	0.00%
VICOR	Buy (new)	+14K	0.00%
ABT	Reduce 100%	-3.95M	0.00%
ICON	Sell (exit)	-105K	0.00%

Showing top 20 by position change · 73 smaller moves hidden

Q4 2025

17 buys · 73 sells

Ticker	Activity	Share change	% portfolio
SPOT	Add 547%	+61K	0.20%
UPWK	Add 279%	+32K	0.00%
SPG	Add 168%	+4K	0.00%
IVV	Add 125%	+849K	2.00%
IONQ	Buy (new)	+843K	2.00%
AXT	Buy (new)	+22K	0.00%
FIGS	Buy (new)	+49K	0.00%
GAP	Buy (new)	+13K	0.00%
GRBK	Buy (new)	+7K	0.00%
JFROG	Buy (new)	+10K	0.00%
LYFT	Buy (new)	+18K	0.00%
BABA	Sell (exit)	-3K	0.00%
AUR	Sell (exit)	-18K	0.00%
BAIDU	Sell (exit)	-3K	0.00%
CAVA	Sell (exit)	-8K	0.00%
CHEWY	Sell (exit)	-5K	0.00%
KO	Sell (exit)	-10K	0.00%
DOCS	Sell (exit)	-7K	0.00%
NAYAX	Sell (exit)	-9K	0.00%
NKE	Sell (exit)	-4K	0.00%

Showing top 20 by position change · 70 smaller moves hidden

Q3 2025

28 buys · 63 sells

Ticker	Activity	Share change	% portfolio
NVDA	Add 36850%	+6.28M	3.80%
UBER	Add 24572%	+4.55M	1.50%
ADPT	Add 105%	+149K	0.00%
IVV	Add 102%	+343K	0.50%
BN	Buy (new)	+4.49M	4.80%
BSX	Buy (new)	+5.60M	1.80%
INTU	Buy (new)	+662K	1.50%
TSM	Buy (new)	+177K	0.20%
BABA	Buy (new)	+3K	0.00%
AUR	Buy (new)	+18K	0.00%
BAIDU	Buy (new)	+3K	0.00%
CAVA	Buy (new)	+8K	0.00%
CHEWY	Buy (new)	+5K	0.00%
KO	Buy (new)	+10K	0.00%
HHH	Buy (new)	+24K	0.00%
META	Buy (new)	+538	0.00%
PEP	Buy (new)	+5K	0.00%
PG	Buy (new)	+5K	0.00%
U	Buy (new)	+9K	0.00%
UPWK	Buy (new)	+11K	0.00%

Showing top 20 by position change · 71 smaller moves hidden

Q2 2025

36 buys · 49 sells

Ticker	Activity	Share change	% portfolio
IBKR	Buy (new)	+1.20M	2.00%
ADPT	Buy (new)	+142K	0.00%
ARGAN	Buy (new)	+45K	0.00%
BBIO	Buy (new)	+36K	0.00%
CRS	Buy (new)	+9K	0.00%
CVNA	Buy (new)	+12K	0.00%
CEG	Buy (new)	+4K	0.00%
DAVE	Buy (new)	+13K	0.00%
DOCS	Buy (new)	+6K	0.00%
GRAIL	Buy (new)	+22K	0.00%
GH	Buy (new)	+10K	0.00%
HCI	Buy (new)	+14K	0.00%
ITRON	Buy (new)	+9K	0.00%
MAREX	Buy (new)	+19K	0.00%
NTRA	Buy (new)	+3K	0.00%
NAYAX	Buy (new)	+13K	0.00%
NRG	Buy (new)	+6K	0.00%
NVDA	Buy (new)	+17K	0.00%
OPPFI	Buy (new)	+61K	0.00%
AAPL	Reduce 100%	-2.67M	0.00%

Showing top 20 by position change · 65 smaller moves hidden

Polen's sector breakdown

How the top 10 positions are diversified across 3 sectors. Weighted by stated portfolio percentage.

Technology

5 positions · MSFT, GOOG, AMZN, NOW, SHOP

51.9%

29.2% of AUM

Financials

3 positions · BN, MA, V

28.8%

16.2% of AUM

Other

2 positions · LLY, ORCL

19.4%

10.9% of AUM

Position intelligence · 13F-derived

How Capital is sized + moving

Every position classified by both portfolio weight (size bucket) and recent move activity (trend bucket). A 22% Apple position building +5% this quarter signals different intent than a 1% starter trimmed in half. Descriptive analysis of 13F filings — not recommendation.

Core

≥10% positions

Significant

3–10%

Starter

1–3%

Small

<1%

Building

Steady

Trimming

New

Exit pending

Position	% portfolio	Size	Trend
MSFT MICROSOFT CORP	7.3%	significant	↓ trimming
GOOG ALPHABET INC	5.8%	significant	↓ trimming
BN BROADCOM INC	5.8%	significant	↓ trimming
LLY ELI LILLY & CO	5.8%	significant	↓ trimming
AMZN AMAZON COM INC	5.6%	significant	↓ trimming
MA MASTERCARD INCORPORATED	5.3%	significant	↓ trimming
NOW SERVICENOW INC	5.3%	significant	↑ building
SHOP SHOPIFY INC	5.2%	significant	↓ trimming
ORCL ORACLE CORP	5.1%	significant	↓ trimming
V VISA INC	5.1%	significant	↓ trimming
NVDA NVIDIA CORPORATION	5.0%	significant	↓ trimming
CSGP COSTAR GROUP INC	3.5%	significant	↑ building
MSCI MSCI INC	3.5%	significant	↓ trimming
ZTS ZOETIS INC	3.5%	significant	↓ trimming
SBUX STARBUCKS CORP	3.1%	significant	↓ trimming
Showing top 15 of 36 positions.

How to read: Size bucket from current 13F-filed portfolio weight. Trend bucket from the last 2 quarters of move activity (net delta >5% in either direction = building/trimming; new = first-appearance this quarter; exit pending = trimmed >50% last quarter). Data lag: SEC 13F filings are reported 45 days after quarter-end. This is descriptive intelligence — not investment advice.

Score explainability · 9-factor breakdown

What drives the ConvictionScore on Capital's top positions

The HoldLens ConvictionScore combines 9 factors. This table shows the per-position breakdown — exactly which factors contribute and by how much for each of Capital's top 8 holdings. Hover any header for factor definition. Empty cells (·) = neutral (no contribution).

Ticker	% port	Smart $	Insider	Track	Streak	Conc	Contra	Event	Dissent	Crowd
MSFT	7.3	+23	·	·	+10	+9	·	·	+45	+5
GOOG	5.8	+14	·	-6	+5	+6	+6	·	+25	·
BN	5.8	+21	·	-4	+10	+7	·	·	+21	·
LLY	5.8	+6	·	-2	·	+2	·	·	+13	·
AMZN	5.6	+24	·	-4	+5	+9	·	·	+41	·
MA	5.3	+7	·	+1	+10	+9	·	·	+27	·
NOW	5.3	+11	-2	+1	+1	+4	·	·	+6	·
SHOP	5.2	+3	·	+1	+1	+2	·	·	+12	·

Factor definitions →

Smart $: Manager quality × consensus (0–30)
Insider: Form 4 net buy/sell (-15..+20)
Track: Buyer 10y CAGR × concentration (-10..+20)
Streak: Multi-quarter compounding (0–10)
Conc: Biggest position size as conviction (0–10)
Contra: Under-the-radar bonus (0–10)
Event: 8-K events last 90d (-15..+5)
Dissent: Sells subtract, weighted ×1.6 (0–60)
Crowd: Too many owners = priced in (0–10)

Factors are summed (positive add, penalties subtract), then clamped to the -100/+100 range. Each factor has a maximum contribution shown in parentheses next to its name. Read positive cells as bullish contributions, negative as bearish. See /learn/conviction-score-explained for the full methodology. ConvictionScore is descriptive synthesis of public filings — not investment advice.

Cross-portfolio overlap

Who else holds what Capital holds

Top 6 highest-conviction overlap pairs containing Polen Capital. Each page is the full intersection of two 13F-filed portfolios.

See all 435 overlap pairs →

Polen Capital's top 10 disclosed holdings (Q1 2026)

Ticker	Company	% Portfolio	Shares (M)
MSFT	MICROSOFT CORP Core compounder. Decade-long hold.	7.3%	2.85
GOOG	ALPHABET INC	5.8%	2.95
BN	BROADCOM INC	5.8%	2.7
LLY	ELI LILLY & CO	5.8%	0.91
AMZN	AMAZON COM INC	5.6%	3.9
MA	MASTERCARD INCORPORATED Payment network.	5.3%	1.54
NOW	SERVICENOW INC Enterprise software compounder.	5.3%	7.27
SHOP	SHOPIFY INC	5.2%	6.31
ORCL	ORACLE CORP	5.1%	5.02
V	VISA INC Payment network toll booth.	5.1%	2.45

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Dividend tax by country

Estimate your withholding on cross-border dividends

Your country of residenceCompany is domiciled inGross dividend (example)

Withholding rate

Domestic (no cross-border)

Tax withheld

$0.00

You'd receive

$1000.00

Of $1000 gross

Source & treaty reference

Treaty: Domestic — no cross-border withholding

Citation: IRC §§ 1441–1446 (withholding applies to foreign persons; US residents not subject to WHT on US-source dividends)

U.S. residents receiving U.S.-source dividends: no cross-border withholding; taxed on return at qualified (0/15/20%) or ordinary rates.

Estimates for educational purposes only. Tax rules change; consult a qualified tax professional for your specific situation. Dividend-tax treatment depends on holding period, account type (taxable vs. retirement), investor type (individual vs. pension vs. mutual fund), limitation-on-benefits tests, and other factors not modeled here.

Full dividend-tax rules for United States investors →

Want Polen move-alerts?

One email per 13F filing. Summarizes every new position, exit, and trim.

Investors with portfolios similar to Polen Capital

Tracked managers whose top positions overlap with Polen's portfolio.

Andreas Halvorsen

Viking Global Investors

4 shared positions: META, V, MSFT, MA

Chris Hohn

TCI Fund Management

4 shared positions: META, GOOGL, MSFT, V

Terry Smith

Fundsmith

4 shared positions: MSFT, MA, META, V

See all 29 investors ranked by portfolio similarity →

ETF replication

Which ETF replicates Polen's portfolio?

Closest match: XLK · overlap score 133.5 across 1 shared top-10 names. Full ranked list of 5 ETFs →

Investing style

Polen is a growth investor

See 7 other growth managers tracked. Tech-heavy. Concentrated. Holds through volatility on quality conviction.

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Per-quarter digests

What Polen Capital did, quarter by quarter

Full move-by-move breakdown for each of the last 8 filed quarters.

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024

Frequently asked questions

Who is Polen Capital?

Polen Capital runs Polen Capital Management as long-term quality growth. 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.

What fund does Polen Capital run?

Polen Capital is long-term quality growth of Polen Capital Management. Polen Capital Management files SEC Form 13F-HR quarterly with the latest disclosure dated 2026-05-14 (Q1 2026). Full holdings, share counts, dollar values, and quarter-over-quarter changes are listed below.

What does Polen Capital invest in?

Polen Capital's Polen Capital Management portfolio is disclosed quarterly via SEC Form 13F-HR. Each position below shows the ticker, share count, dollar value, percentage of portfolio, and quarter-over-quarter change. Data is sourced directly from SEC filings (public-domain regulatory disclosure).

What is Polen Capital's investment philosophy?

Polen Capital's stated investment philosophy: "Concentrated quality growth. 20-30 names only. Hold forever.". Polen Capital has been long-term quality growth of Polen Capital Management; estimated net worth —.

What is Polen Capital's net worth?

Polen Capital's estimated net worth is —. Polen Capital runs Polen Capital Management as long-term quality growth; full 13F holdings disclosed quarterly with the SEC are listed below.

Data sourced from Polen Capital Management 13F filings with the SEC. Approximate snapshot. Not investment advice.

Sister property: SecFilingDex — the encyclopedic reference for Form 13F (HR / NT / HR/A variants) and the regulatory citation behind every position shown above.