Polen Capital
Manager: Damon Ficklin & Dan Davidowitz
POLEN CAPITAL MANAGEMENT LLC · CIK 0001034524 · Form 13F-HR · Accession 0001172661-26-003035
Reported Equity Holdings (USD)
$11.6bn
218 positions · mainly 13F (+ Non-US where noted)
Form ADV RAUM — Polen Capital Management, LLC
$24.1bn
as of 31 Dec 2025 (ADV Item 5.F; Part 2A brochure March 2026 / Part 1 amendment filed 4 May 2026) · form_adv
Shown (≥1%)
24
13F combined (219 → 218) · 194 under 1% hidden
Largest weights: Eli Lilly 6.9%, NVIDIA 6.9%, Microsoft 6.7%. Sorted by USD value.
Reported Equity Holdings USD
194 names under 1% hidden (still included in Reported Equity Holdings). Weights vs full book — visible weights may sum to under 100%.
Alphabet: GOOGL (Class A) + GOOG (Class C) combined into one line — voting-rights difference ignored for weights.
| # | Issuer | Ticker / listing | CCY | Value (USD) | Weight | Source | As of | Notes |
|---|---|---|---|---|---|---|---|---|
| 1 | Eli Lilly |
LLY · NYSE | USD | $799.9m | 6.9% | 13F | 13F — 30 Jun 2026 | COM |
| 2 | NVIDIA |
NVDA · Nasdaq | USD | $796.0m | 6.9% | 13F | 13F — 30 Jun 2026 | COM |
| 3 | Microsoft |
MSFT · Nasdaq | USD | $782.8m | 6.7% | 13F | 13F — 30 Jun 2026 | COM |
| 4 | Alphabet Inc. |
GOOGL+GOOG · Nasdaq | USD | $775.0m | 6.7% | 13F | 13F — 30 Jun 2026 | Class C (GOOG) + Class A (GOOGL) combined into one line (2 13F equity classes; voting rights ignored). Values summed as filed. |
| 5 | Broadcom |
AVGO · Nasdaq | USD | $740.5m | 6.4% | 13F | 13F — 30 Jun 2026 | COM |
| 6 | Amazon |
AMZN · Nasdaq | USD | $669.7m | 5.8% | 13F | 13F — 30 Jun 2026 | COM |
| 7 | Visa |
V · NYSE | USD | $619.5m | 5.3% | 13F | 13F — 30 Jun 2026 | COM CL A |
| 8 | Mastercard |
MA · NYSE | USD | $586.5m | 5.1% | 13F | 13F — 30 Jun 2026 | CL A |
| 9 | ServiceNow |
NOW · NYSE | USD | $533.2m | 4.6% | 13F | 13F — 30 Jun 2026 | COM |
| 10 | Oracle |
ORCL · NYSE | USD | $523.8m | 4.5% | 13F | 13F — 30 Jun 2026 | COM |
| 11 | Shopify |
SHOP · NYSE | USD | $522.7m | 4.5% | 13F | 13F — 30 Jun 2026 | CL A SUB VTG SHS Non-US / foreign-related issuer already valued in the US 13F book (ADR or US-listed share class). |
| 12 | MSCI |
MSCI · NYSE | USD | $376.2m | 3.2% | 13F | 13F — 30 Jun 2026 | COM |
| 13 | Lam Research |
LRCX · Nasdaq | USD | $372.2m | 3.2% | 13F | 13F — 30 Jun 2026 | COM NEW |
| 14 | Starbucks |
SBUX · Nasdaq | USD | $362.9m | 3.1% | 13F | 13F — 30 Jun 2026 | COM |
| 15 | IDEXX Laboratories |
IDXX · Nasdaq | USD | $280.3m | 2.4% | 13F | 13F — 30 Jun 2026 | COM |
| 16 | GE Aerospace |
GE · NYSE | USD | $258.1m | 2.2% | 13F | 13F — 30 Jun 2026 | COM NEW |
| 17 | CoStar Group |
CSGP · Nasdaq | USD | $248.1m | 2.1% | 13F | 13F — 30 Jun 2026 | COM |
| 18 | Taiwan Semiconductor (ADR) |
TSM · NYSE | USD | $239.4m | 2.1% | 13F | 13F — 30 Jun 2026 | SPONSORED ADS Non-US / foreign-related issuer already valued in the US 13F book (ADR or US-listed share class). |
| 19 | Airbnb |
ABNB · Nasdaq | USD | $236.1m | 2.0% | 13F | 13F — 30 Jun 2026 | COM CL A |
| 20 | GE Vernova |
GEV · NYSE | USD | $231.0m | 2.0% | 13F | 13F — 30 Jun 2026 | COM |
| 21 | Meta Platforms |
META · Nasdaq | USD | $185.6m | 1.6% | 13F | 13F — 30 Jun 2026 | CL A |
| 22 | Intuitive Surgical |
ISRG · Nasdaq | USD | $178.1m | 1.5% | 13F | 13F — 30 Jun 2026 | COM NEW |
| 23 | ATI |
ATI · NYSE | USD | $161.5m | 1.4% | 13F | 13F — 30 Jun 2026 | COM |
| 24 | Howmet Aerospace |
HWM · NYSE | USD | $122.9m | 1.1% | 13F | 13F — 30 Jun 2026 | COM |
Methodology
- One book: All weights in USD. Reported Equity Holdings = Polen Capital Management LLC 13F-HR reported values (same-issuer/CUSIP/class/put-call rows aggregated). Alphabet Class A (GOOGL) and Class C (GOOG) combined into one line at build (voting rights ignored). Firm-wide 13F (not Focus Growth sleeve alone).
- US 13F: Polen Capital Management LLC (CIK 0001034524) Form 13F-HR. Period end 30 Jun 2026, filed 04 Aug 2026. Managers: Damon Ficklin & Dan Davidowitz (Quality Growth / Focus Growth). Schema X0202 whole USD ($11.6bn).
- Enrichment: Book from SEC 13F-HR filed by Polen Capital Management LLC (CIK 0001034524) — firm-wide US equity book across Quality Growth strategies (Focus Growth lead PMs Damon Ficklin & Dan Davidowitz; Schedule A). Form ADV Item 5.F RAUM (~$24.1bn YE 2025) exceeds the 13F equity book (~$11.6bn) — residual = cash, non-13F (incl. international/UCITS sleeves not reported on Form 13F), and timing. polencapital.com publishes strategy pages / GIPS disclosures but no firm-level holdings table. Polen Focus Growth ETF (PCLG) N-CSR (30 Apr 2026) is US Focus Growth only — no Non-US local listings to add. Non-US hunt: data/_research/polen-2026-10-15.md.
- Non-US: No separate Non-US regulator lines valued after primary-source hunt (polencapital.com has no firm holdings table; Polen Focus Growth ETF N-CSR 30 Apr 2026 is US Focus Growth only; foreign-related US listings — Shopify, TSM ADR, ASML, SAP ADR, Aon, Accenture, Spotify, MercadoLibre — remain in the 13F book only). See data/_research/polen-2026-10-15.md.
- Filer note: Display name Polen Capital; legal 13F filer Polen Capital Management LLC; Quality Growth / Focus Growth PMs Damon Ficklin (Head of Team) & Dan Davidowitz (Portfolio Manager) per Form ADV Schedule A and firm site.
- Mixed as-of: US 13F as of period end 30 Jun 2026.
- Reported AUM: Firm / strategy AUM from the manager's site or Form ADV where cited on this page — separate from Reported Equity Holdings.
- Shares / Discretion / Vote columns omitted. Value shown as USD market value ($m, 1 decimal, e.g. $17,700.0m). Weight to 1 decimal.
- Table shows positions with weight ≥ 1.0% only; names under 1% are hidden but still included in Reported Equity Holdings (USD) and the weight denominator.
- Raw data: EDGAR 13F · portfolio_combined.json · holdings.json