Polen Focus Growth Portfolio Q4 2025 Commentary
In Q4 2025, the Portfolio returned -1.4% compared to +1.1% for the Index. Top relative contributors to the Portfolio's performance included Eli Lilly, Meta (not owned), and Shopify. The primary drag for the quarter was Oracle, accounting for almost all of the Portfolio's relative underperformance in Q4, completely reversing its performance from the prior quarter and giving back all of the gains experienced in Q3.
