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Livermore
Livermore
ZHEN

Polen Capital Management LLC

SEC CIK
0001034524
Latest filing
Aug 4, 2026

The latest 13F from Polen Capital Management LLC covers Q2 2026 (filed Aug 4, 2026): 219 long positions worth $11.6B. The top 10 holdings make up 58.7% of the portfolio, and the largest is Eli Lilly & Co (LLY) at 6.9%. Livermore has 25 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
68
Est. +$935.7M
Added
60
Est. +$225.2M
Reduced
91
Est. −$4.84B
Sold out
70
Est. −$97.5M

Top 5 holdings

Share of this quarter's portfolio value

  1. LLYEli Lilly & Co
    6.9%$799.9MHistory
  2. NVDANVIDIA Corp
    6.9%$796.0MHistory
  3. MSFTMicrosoft Corp
    6.7%$782.8MHistory
  4. GOOGAlphabet Inc.
    6.6%$765.0MHistory
  5. AVGOBroadcom Inc.
    6.4%$740.5MHistory

Share of portfolio

Top 5 holdings and the other 214 positions, by share of portfolio value

  1. LLY6.9%
  2. NVDA6.9%
  3. MSFT6.7%
  4. GOOG6.6%
  5. AVGO6.4%
  6. Other 214 positions66.5%

Biggest buys

New and added positions, by estimated amount bought

  1. GEGeneral Electric Co
    +$258.1MNewHistory
  2. GEVGE Vernova Inc.
    +$231.0MNewHistory
  3. ATIAti Inc
    +$161.5MNewHistory
  4. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +$155.9MAddedHistory
  5. HWMHowmet Aerospace Inc.
    +$122.9MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. GEGeneral Electric Co
    +2.22 pp0.0% → 2.2%History
  2. GEVGE Vernova Inc.
    +1.99 pp0.0% → 2.0%History
  3. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +1.65 pp0.4% → 2.1%History
  4. ATIAti Inc
    +1.39 pp0.0% → 1.4%History
  5. HWMHowmet Aerospace Inc.
    +1.06 pp0.0% → 1.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AONAon plc
    −$394.7MReducedHistory
  2. LLYEli Lilly & Co
    −$297.0MReducedHistory
  3. SNPSSynopsys Inc
    −$281.0MReducedHistory
  4. ZTSZoetis Inc.
    −$280.4MReducedHistory
  5. MSFTMicrosoft Corp
    −$278.7MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. ZTSZoetis Inc.
    −3.25 pp3.5% → 0.2%History
  2. AONAon plc
    −2.55 pp3.0% → 0.5%History
  3. ACNAccenture plc
    −1.69 pp1.9% → 0.2%History
  4. SNPSSynopsys Inc
    −1.68 pp1.8% → 0.2%History
  5. CSGPCostar Group, Inc.
    −1.37 pp3.5% → 2.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$11.6B
−$2.85B (−19.7%) vs. prior quarter
Positions
219
−2 vs. prior quarter
Top 10 concentration
58.7%
Top 10 as share of value
Turnover
8.9%
Q2 2026, one quarter
Average holding period
12.5 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $59.5B (Q4 2021)

Q1 2021: $44.5BQ2 2021: $52.2BQ3 2021: $54.5BQ4 2021: $59.5BQ1 2022: $51.3BQ2 2022: $37.9BQ3 2022: $35.8BQ4 2022: $34.3BQ1 2023: $37.9BQ2 2023: $40.3BQ3 2023: $38.0BQ4 2023: $40.7BQ1 2024: $43.3BQ2 2024: $39.9BQ3 2024: $38.7BQ4 2024: $37.0BQ1 2025: $31.8BQ2 2025: $32.6BQ3 2025: $30.8BQ4 2025: $23.4BQ1 2026: $14.5BQ2 2026: $11.6B
Q1 2021Q2 2026
13F filings of Polen Capital Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 4, 2026219$11.6BLLYNVDAMSFTvs. Q1 2026SEC
Q1 2026May 14, 2026221$14.5BMSFTGOOGLLYvs. Q4 2025SEC
Q4 2025Feb 12, 2026231$23.4BAMZNMSFTORCLvs. Q3 2025SEC
Q3 2025Nov 12, 2025232$30.8BORCLMSFTAMZNvs. Q2 2025SEC
Q2 2025Aug 13, 2025240$32.6BAMZNMSFTORCLvs. Q1 2025SEC
Q1 2025May 12, 2025117$31.8BAMZNMSFTVvs. Q4 2024SEC
Q4 2024Feb 10, 2025124$37.0BAMZNMSFTGOOGvs. Q3 2024SEC
Q3 2024Feb 10, 2025Amended118$38.7BAMZNMSFTGOOGvs. Q2 2024SEC
Q2 2024Aug 12, 2024110$39.9BAMZNMSFTGOOGvs. Q1 2024SEC
Q1 2024May 10, 2024104$43.3BAMZNMSFTGOOGvs. Q4 2023SEC
Q4 2023May 10, 2024Amended107$40.7BAMZNMSFTNOWvs. Q3 2023SEC
Q3 2023Nov 13, 202399$38.0BAMZNGOOGNFLXvs. Q2 2023SEC
Q2 2023Aug 11, 2023100$40.3BAMZNNFLXMSFTvs. Q1 2023SEC
Q1 2023May 11, 202394$37.9BAMZNMSFTNFLXvs. Q4 2022SEC
Q4 2022Feb 13, 202393$34.3BAMZNGOOGMSFTvs. Q3 2022SEC
Q3 2022Nov 4, 202285$35.8BAMZNGOOGMSFTvs. Q2 2022SEC
Q2 2022Aug 10, 202284$37.9BAMZNGOOGADBEvs. Q1 2022SEC
Q1 2022May 12, 202291$51.3BAMZNGOOGADBEvs. Q4 2021SEC
Q4 2021Feb 11, 202292$59.5BAMZNGOOGMETAvs. Q3 2021SEC
Q3 2021Nov 10, 202191$54.5BMETAGOOGAMZNvs. Q2 2021SEC
Q2 2021Aug 12, 202181$52.2BMETAMSFTGOOGvs. Q1 2021SEC
Q1 2021May 12, 202171$44.5BMETAMSFTGOOG–SEC

13D and 13G filings

Companies where Polen Capital Management LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Polen Capital Management LLC does not currently report owning 5% or more of any company.

Latest filings

11 filings on file made by Polen Capital Management LLC or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Polen Capital Management LLC
CompanyFiled (ET)FilerFormStakeChangeEvent dateFiling
Polen Credit Opportunities FundCommon SharesJan 28, 202610:07 AM ETPolen Capital Credit, LLCand 1 other13G5.30%240.5K sharesNewDec 31, 2025SEC
PAYCPaycom Software, Inc.Jul 24, 20252:13 PM ETPolen Capital Management LLC13G/A4.92%2.85M shares–Below 5%Jun 30, 2025SEC
Polen Credit Opportunities FundCommon SharesJul 22, 20252:16 PM ETPolen Capital Management LLCand 1 other13G/A4.90%227.9K shares−0.70 ppfrom 5.60%Below 5%Jun 30, 2025SEC
Polen Credit Opportunities FundCommon SharesFeb 13, 202510:25 AM ETPolen Capital Management LLCand 1 other13G/A5.60%216.9K shares–Dec 31, 2024SEC
PAYCPaycom Software, Inc.Nov 6, 2024Polen Capital Management LLC13GOld format–New–SEC
Polen Credit Opportunities FundFeb 13, 2024Polen Capital Management LLC13GOld format–New–SEC
FETForum Energy Technologies, Inc.Jan 18, 2024Polen Capital Management LLC13G/AOld format–––SEC
ITGartner IncFeb 10, 2023Polen Capital Management LLC13G/AOld format–––SEC
FETForum Energy Technologies, Inc.Feb 10, 2023Polen Capital Management LLC13GOld format–New–SEC
ITGartner IncFeb 10, 2022Polen Capital Management LLC13G/AOld format–––SEC
ITGartner IncFeb 11, 2021Polen Capital Management LLC13G/AOld format–––SEC