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Polen Capital Management Portfolio holdings
AUM
$14.5B
1-Year Est. Return
5.7%
This Fund
S&P 500
This Quarter
Est. Return
+15.82%
1 Year Est. Return
+5.7%
3 Year Est. Return
+58.11%
5 Year Est. Return
+55.45%
10 Year Est. Return
+413.15%
AUM
$41.5B
AUM Growth
+$3.46B
(+9.1%)
Cap. Flow
-$1.91B
Cap. Flow
% of AUM
-4.61%
Top 10 Holdings %
Top 10 Hldgs %
63.95%
Holding
113
New
14
Increased
23
Reduced
69
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$998M |
| 2 |
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
|
+$55.5M |
| 3 |
iShares Russell 1000 Growth ETF
IWF
|
+$32.8M |
| 4 |
Medtronic
MDT
|
+$14.4M |
| 5 |
iShares MSCI ACWI ex US ETF
ACWX
|
+$6.85M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$1.03B |
| 2 |
Illumina
ILMN
|
+$604M |
| 3 |
Amazon
AMZN
|
+$157M |
| 4 |
ServiceNow
NOW
|
+$125M |
| 5 |
Adobe
ADBE
|
+$97.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 39.1% |
| 2 | Consumer Discretionary | 18.79% |
| 3 | Healthcare | 15.14% |
| 4 | Financials | 13.9% |
| 5 | Communication Services | 11.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Amazon
AMZN
$2.52T
| $5.51B | 13.29% |
36,275,937
-1,122,214
| -3% | -$157M |
|
|
2
Microsoft
MSFT
$2.91T
| $3.74B | 9.02% |
9,956,252
+2,804,875
| +39% | +$998M |
|
|
3
ServiceNow
NOW
$106B
| $2.68B | 6.46% |
18,981,820
-990,850
| -5% | -$125M |
|
4
Alphabet (Google) Class C
GOOG
$4.01T
| $2.65B | 6.38% |
18,794,822
-697,466
| -4% | -$94.6M |
|
|
5
Adobe
ADBE
$93.4B
| $2.48B | 5.98% |
4,155,287
-168,766
| -4% | -$97.3M |
|
|
6
Netflix
NFLX
$292B
| $1.99B | 4.79% |
40,812,060
-23,560,490
| -37% | -$1.03B |
|
7
Mastercard
MA
$485B
| $1.98B | 4.78% |
4,646,772
-151,254
| -3% | -$60.8M |
|
8
Salesforce
CRM
$140B
| $1.91B | 4.61% |
7,275,372
-385,014
| -5% | -$87.1M |
|
9
Visa
V
$687B
| $1.9B | 4.58% |
7,291,781
-277,387
| -4% | -$68.4M |
|
10
Accenture
ACN
$93.1B
| $1.68B | 4.06% |
4,800,967
-188,989
| -4% | -$60.9M |
|
11
Abbott
ABT
$181B
| $1.48B | 3.58% |
13,488,308
+7,572
| +0.1% | +$757K |
|
12
Airbnb
ABNB
$86.3B
| $1.44B | 3.47% |
10,561,868
-509,196
| -5% | -$65.7M |
|
13
UnitedHealth
UNH
$375B
| $1.28B | 3.09% |
2,435,074
-103,060
| -4% | -$55M |
|
14
PayPal
PYPL
$49.4B
| $1.28B | 3.08% |
20,794,484
-891,181
| -4% | -$51M |
|
15
Autodesk
ADSK
$46.2B
| $1.25B | 3.01% |
5,122,109
-227,667
| -4% | -$49.2M |
|
16
Thermo Fisher Scientific
TMO
$210B
| $1.08B | 2.6% |
2,033,120
-117,908
| -5% | -$57.1M |
|
17
Workday
WDAY
$35.8B
| $1.04B | 2.51% |
3,768,793
-181,527
| -5% | -$43.2M |
|
18
Zoetis
ZTS
$32.1B
| $981M | 2.37% |
4,971,744
-192,137
| -4% | -$34M |
|
|
NVO
19
Novo Nordisk
NVO
$218B
| $823M | 1.98% |
7,958,444
+52,189
| +0.7% | +$5.16M |
|
20
Gartner
IT
$9.72B
| $815M | 1.96% |
1,806,738
-108,451
| -6% | -$43.3M |
|
21
Nike
NKE
$61.9B
| $641M | 1.54% |
5,904,020
-253,276
| -4% | -$27.2M |
|
22
Align Technology
ALGN
$12.2B
| $347M | 0.84% |
1,268,118
-276,053
| -18% | -$65.4M |
|
|
23
Alphabet (Google) Class A
GOOGL
$4.01T
| $299M | 0.72% |
2,138,915
-32,351
| -1% | -$4.35M |
|
24
Aon
AON
$77.9B
| $239M | 0.58% |
819,616
+4,326
| +0.5% | +$1.38M |
|
25
SAP
SAP
$198B
| $192M | 0.46% |
1,242,694
-19,980
| -2% | -$2.89M |
|
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Polen Capital Management's Q4 2023 Portfolio in Review
As of Q4 2023, Polen Capital Management held 113 positions worth $41.5B, up 9.1% from $38B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Polen Capital Management withdrew a net $1.91B in Q4 2023, closing 6 positions and reducing 69 holdings. Its most notable exit was Estee Lauder, an estimated $19.6M position sold in full.
By sector, the portfolio is most concentrated in Technology at 39% of assets, up from 34% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Polen Capital Management opened a new position in State Street SPDR Bloomberg 1-3 Month T-Bill ETF worth $55.4M.
- Polen Capital Management's largest Q4 2023 buy was State Street SPDR Bloomberg 1-3 Month T-Bill ETF: 606,590 shares worth $55.4M.
- Polen Capital Management added most to Microsoft in Q4 2023, an estimated $998M increase.
- Polen Capital Management's biggest Q4 2023 reduction was Netflix, cutting an estimated $1.03B.
- Polen Capital Management fully exited Estee Lauder in Q4 2023, selling an estimated $19.6M.
- Polen Capital Management's ten largest holdings make up 64% of its $41.5B portfolio in Q4 2023.
- Polen Capital Management opened 14 new positions and closed 6 in Q4 2023.
- Polen Capital Management's portfolio value rose 9.1% quarter-over-quarter to $41.5B.
Based on Polen Capital Management's 13F filing for Q4 2023, filed 13 Feb 2024.