Polen Capital

growth, quality, concentrated, active

Quarters 52

2025-12-31 $23.42B

Positions 231

2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30

Quarter Analysis

13F change notes for Polen Capital in 2025-12-31.

Polen's quieter pre-cut quarter — book $23B, top names persistence-flagged with small trims. Big moves: ServiceNow +405% in shares (major add), Intuitive Surgical newly initiated at 2.04%, IWF ETF +241% (using ETF wrappers for cash deployment). Shopify cut -35%, Abbott -47% (notable healthcare profit-take). Reads as Polen still actively reshaping before the bigger Q1-2026 flow-driven trim.

★ HELD
AMAZON COM INC AMZN
Top weight 8.53%, 20 quarters at +63% unrealized; -23% trim.
★ HELD
MICROSOFT CORP MSFT
34 quarters at +170% unrealized.
★ HELD
ALPHABET INC GOOG
41 quarters at +504% unrealized — the longest-running mega-cap-tech position.
▲ ADDED
SERVICENOW INC NOW
Shares +405% — meaningful ServiceNow scale-up.
▼ REDUCED
ABBOTT LABS ABT
Cut -47% in shares after 37 quarters held — healthcare profit-take.
+ NEW
INTUITIVE SURGICAL INC ISRG
Initiated 2.04% at +51% unrealized — medical-devices add.
• CONTEXT

Q4 was the rotation quarter (ServiceNow, ISRG); Q1 is the broader contraction.