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Polen Capital Management LLC

The positions Polen Capital Management LLC reported on its Form 13F for Q2 2026, the quarter ending 30 Jun 2026, filed on 4 Aug 2026. Every figure below is the filing’s own: US-listed long equity, valued at the quarter end, with the change measured against the same manager’s previous filing.

Reported book
$11.6bn
-$2.8bn on Q1 2026
Positions
219
55 new, 70 sold out
Top ten weight
59%
Concentrated
Quarter
Q2 2026
Filed 4 Aug 2026
Read the Q2 2026 filing on sec.gov CIK 0001034524 · Long-only · FL
Reported book by quarter
$0$19.4bn$38.7bnQ3 24: $38.7bn$38.7bnQ3 24Q4 24: $37.0bn$37.0bnQ4 24Q1 25: $31.8bn$31.8bnQ1 25Q2 25: $32.6bn$32.6bnQ2 25Q3 25: $30.8bn$30.8bnQ3 25Q4 25: $23.4bn$23.4bnQ4 25Q1 26: $14.5bn$14.5bnQ1 26Q2 26: $11.6bn$11.6bnQ2 26
Largest positions, share of the book
Eli Lilly & Co (LLY): 6.9%Eli Lilly & Co (LLY)6.9%Nvidia Corporation (NVDA): 6.9%Nvidia Corporation (NVD…6.9%Microsoft Corp (MSFT): 6.7%Microsoft Corp (MSFT)6.7%Alphabet Inc: 6.6%Alphabet Inc6.6%Broadcom Inc (AVGO): 6.4%Broadcom Inc (AVGO)6.4%Amazon Com Inc (AMZN): 5.8%Amazon Com Inc (AMZN)5.8%Visa Inc (V): 5.3%Visa Inc (V)5.3%Mastercard Incorporated (MA): 5.1%Mastercard Incorporated…5.1%Servicenow Inc (NOW): 4.6%Servicenow Inc (NOW)4.6%Oracle Corp: 4.5%Oracle Corp4.5%

Opened this quarter

A new position is the clearest thing a filing says. Somebody argued for it recently, and it is the easiest question to be ready for.

  • Ge Aerospace$258m · 2.2%
  • Ge Vernova Inc (GEV)$231m · 2.0%
  • Ati Inc (ATI)$162m · 1.4%
  • Howmet Aerospace Inc (HWM)$123m · 1.1%
  • Emcor Group Inc (EME)$86m · 0.7%
  • Rackspace Technology Inc (RXT)$4.6m · 0.0%
  • Applied Digital Corp (APLD)$3.7m · 0.0%
  • Entravision Communications C$3.1m · 0.0%
  • Copa Holdings SA$2.9m · 0.0%
  • Cardinal Infrastructure Grou$2.9m · 0.0%
  • Forgent Power Solutions Inc (FPS)$2.8m · 0.0%
  • Alpha Tau Medical LTD$2.8m · 0.0%
  • and 43 more, in the table below.

Sold out of this quarter

Exits are valued at what the position was worth in the previous filing, because by this one it is gone.

  • Intuit (INTU)$8.6m held before
  • Fastly Inc (FSLY)$6.9m held before
  • iShares TR$5.4m held before
  • Medtronic PLC (MDT)$5.3m held before
  • iShares Inc$5.2m held before
  • Genedx Holdings Corp (WGS)$5.0m held before
  • Paycom Software Inc (PAYC)$3.7m held before
  • Figure Technology Solutio$3.6m held before
  • Karman HLDGS Inc$3.5m held before
  • Corporacion Amer Arpts S A$2.7m held before
  • Kratos Defense & Sec Solutio$2.1m held before
  • Iradimed Corp (IRMD)$2.0m held before
  • and 58 more.

Every reported position, Q2 2026

200 positions, sorted by weight · page 2 of 2

PositionWeight ↓ValueSharesChange on the quarterAction
Forgent Power Solutions Inc (FPS)
COM SHS CL A · CUSIP 34631F102
0.0%$2.8m50,328No earlier filingNew
Alpha Tau Medical LTD
ORDINARY SHARES · CUSIP M0740A108
0.0%$2.8m220,751No earlier filingNew
Protagonist Therapeutics Inc (PTGX)
COM · CUSIP 74366E102
0.0%$2.8m22,651
+$200k
-1,686 shares
Trimmed
Callaway Golf Co (CALY)
COM · CUSIP 131193104
0.0%$2.7m146,013
+$1.8m
+75,582 shares
Added
Azz Inc (AZZ)
COM · CUSIP 002474104
0.0%$2.7m17,364
+$900k
+2,926 shares
Added
Hyperliquid Strategies Inc (PURR)
COM · CUSIP 44916Y106
0.0%$2.7m340,311
+$2.4m
+278,303 shares
Added
Cheesecake Factory Inc (CAKE)
COM · CUSIP 163072101
0.0%$2.6m33,297
+$1.3m
+8,475 shares
Added
Construction Partners Inc (ROAD)
COM CL A · CUSIP 21044C107
0.0%$2.6m22,291
-$300k
-4,038 shares
Trimmed
Wisdomtree Inc (WT)
COM · CUSIP 97717P104
0.0%$2.5m149,051
+$900k
+40,046 shares
Added
Five9 Inc (FIVN)
COM · CUSIP 338307101
0.0%$2.5m117,256No earlier filingNew
Carvana Co (CVNA)
CL A · CUSIP 146869102
0.0%$2.5m37,504
+$200k
+30,156 shares
Added
Mirum Pharmaceuticals Inc (MIRM)
COM · CUSIP 604749101
0.0%$2.4m20,899
+$500k
+368 shares
Added
Praxis Precision Medicines I
COM NEW · CUSIP 74006W207
0.0%$2.4m7,252
-$800k
-2,791 shares
Trimmed
Knowles Corp (KN)
COM · CUSIP 49926D109
0.0%$2.4m58,485No earlier filingNew
Victory Cap HLDGS Inc Del
COM CL A · CUSIP 92645B103
0.0%$2.4m28,223
-$200k
-11,645 shares
Trimmed
Mayville Engr Co Inc
COM · CUSIP 578605107
0.0%$2.3m61,827No earlier filingNew
Rocket Lab Corp (RKLB)
COM · CUSIP 773121108
0.0%$2.3m22,751
+$800k
-804 shares
Trimmed
Sea LTD
SPONSORD ADS · CUSIP 81141R100
0.0%$2.2m23,119
-$500k
-9,755 shares
Trimmed
Adaptive Biotechnologies Cor
COM · CUSIP 00650F109
0.0%$2.2m102,457
+$600k
-13,594 shares
Trimmed
Novanta Inc
COM · CUSIP 67000B104
0.0%$2.2m13,366No earlier filingNew
Semtech Corp (SMTC)
COM · CUSIP 816850101
0.0%$2.2m13,353
+$1.7m
+6,800 shares
Added
Penguin Solutions Inc (PENG)
COM · CUSIP 706915105
0.0%$2.2m28,293No earlier filingNew
iShares TR
MSCI ACWI EX US · CUSIP 464288240
0.0%$2.1m27,755
+$400k
+2,079 shares
Added
On HLDG AG
NAMEN AKT A · CUSIP H5919C104
0.0%$2.1m58,741
-$900k
-29,310 shares
Trimmed
Aktis Oncology Inc (AKTS)
COM · CUSIP 01021M104
0.0%$2.0m63,514No earlier filingNew
Billiontoone Inc (BLLN)
CL A · CUSIP 090168105
0.0%$2.0m16,975No earlier filingNew
PTC Therapeutics Inc (PTCT)
COM · CUSIP 69366J200
0.0%$2.0m24,916No earlier filingNew
Outfront Media Inc (OUT)
COM NEW · CUSIP 69007J304
0.0%$2.0m60,351
+$600k
+8,940 shares
Added
Graham Corp
COM · CUSIP 384556106
0.0%$2.0m15,852
+$600k
-1,961 shares
Trimmed
Travere Therapeutics Inc (TVTX)
COM · CUSIP 89422G107
0.0%$1.9m34,315No earlier filingNew
Establishment Labs HLDGS Inc
COM · CUSIP G31249108
0.0%$1.9m22,541
+$600k
-1,783 shares
Trimmed
Wolfspeed Inc (WOLF)
COMMON STOCK · CUSIP 97785W106
0.0%$1.8m38,219No earlier filingNew
Mamas Creations Inc
COM · CUSIP 56146T103
0.0%$1.8m100,497
+$800k
+35,089 shares
Added
Adeia Inc (ADEA)
COM · CUSIP 00676P107
0.0%$1.7m52,575No earlier filingNew
Ero Copper Corp (ERO)
COM · CUSIP 296006109
0.0%$1.7m62,613
-$200k
-7,546 shares
Trimmed
Resolute HLDGS MGMT Inc
COM · CUSIP 76134H101
0.0%$1.7m11,464
-$600k
-2,205 shares
Trimmed
Eton Pharmaceuticals Inc (ETON)
COM · CUSIP 29772L108
0.0%$1.6m45,379
+$900k
+15,241 shares
Added
Curtiss Wright Corp (CW)
COM · CUSIP 231561101
0.0%$1.6m2,085
+$800k
+893 shares
Added
Ringcentral Inc (RNG)
CL A · CUSIP 76680R206
0.0%$1.6m40,133No earlier filingNew
Adobe Inc (ADBE)
COM · CUSIP 00724F101
0.0%$1.6m7,581
-$1.3m
-4,287 shares
Trimmed
Technipfmc PLC (FTI)
COM · CUSIP G87110105
0.0%$1.5m22,164
-$900k
-12,129 shares
Trimmed
Ermenegildo Zegna N V (ZGN)
ORD SHS · CUSIP N30577105
0.0%$1.4m111,273No earlier filingNew
Covenant Logistics Group Inc (CVLG)
CL A · CUSIP 22284P105
0.0%$1.4m31,943No earlier filingNew
Kodiak Sciences Inc (KOD)
COM · CUSIP 50015M109
0.0%$1.4m35,469
-$200k
-5,885 shares
Trimmed
Airjoule Technologies Corp
CL A · CUSIP 612160101
0.0%$1.3m243,378No earlier filingNew
Velo3d Inc
COM NEW · CUSIP 92259N302
0.0%$1.3m74,422
+$700k
+12,989 shares
Added
Openlane Inc (OPLN)
COM · CUSIP 48238T109
0.0%$1.3m30,970
+$300k
-2,391 shares
Trimmed
Bitdeer Technologies Group (BTDR)
CL A ORD SHS · CUSIP G11448100
0.0%$1.3m79,540No earlier filingNew
Green Brick Partners Inc
COM · CUSIP 392709101
0.0%$1.2m15,242
+$400k
+2,058 shares
Added
Vanguard Intl Equity Index F
TT WRLD ST ETF · CUSIP 922042742
0.0%$1.2m7,719
+$300k
+1,119 shares
Added
Sofi Technologies Inc (SOFI)
COM · CUSIP 83406F102
0.0%$1.2m65,611
-$500k
-37,734 shares
Trimmed
Fabrinet (FN)
SHS · CUSIP G3323L100
0.0%$1.2m2,087
+$200k
+157 shares
Added
Twilio Inc (TWLO)
CL A · CUSIP 90138F102
0.0%$1.1m5,572
+$800k
+2,864 shares
Added
Space Exploration Techn Corp
CLASS A COM STK · CUSIP 84615Q103
0.0%$1.1m6,705No earlier filingNew
National Energy Services Reu
SHS · CUSIP G6375R107
0.0%$1.1m38,252No earlier filingNew
Pursuit Attractions and Hosp
COM · CUSIP 92552R406
0.0%$1.1m19,995No earlier filingNew
Icici Bank Limited (IBN)
ADR · CUSIP 45104G104
0.0%$1.1m38,124
-$2.0m
-79,935 shares
Trimmed
Oscar Health Inc (OSCR)
CL A · CUSIP 687793109
0.0%$1.1m38,701No earlier filingNew
Axsome Therapeutics Inc. (AXSM)
COM · CUSIP 05464T104
0.0%$1.1m4,468
+$700k
+2,352 shares
Added
Urogen Pharma LTD (URGN)
COM · CUSIP M96088105
0.0%$1.1m29,615No earlier filingNew
Global X FDS
S&P 500 CATHOLIC · CUSIP 37954Y889
0.0%$1.1m11,866
-$400k
-7,002 shares
Trimmed
Vanguard Index FDS
S&P 500 ETF SHS · CUSIP 922908363
0.0%$1.0m1,518No earlier filingNew
Rxo Inc (RXO)
COMMON STOCK · CUSIP 74982T103
0.0%$1.0m37,400No earlier filingNew
Whitefiber Inc (WYFI)
SHS · CUSIP G96115103
0.0%$1.0m26,281No earlier filingNew
Willscot HLDGS Corp
COM CL A · CUSIP 971378104
0.0%$1.0m34,229No earlier filingNew
Adtran Holdings Inc (ADTN)
COM · CUSIP 00486H105
0.0%$1.0m70,292
unchanged
-5,396 shares
Trimmed
Embraer S.a. (EMBJ)
SPONSORED ADS · CUSIP 29082A107
0.0%$900k14,701
+$400k
+5,563 shares
Added
Asp Isotopes Inc (ASPI)
COM · CUSIP 00218A105
0.0%$900k149,559
+$400k
+26,589 shares
Added
Dianthus Therapeutics Inc
COM · CUSIP 252828108
0.0%$900k9,333
+$600k
+5,214 shares
Added
China Yuchai Intl LTD
COM · CUSIP G21082105
0.0%$900k19,146No earlier filingNew
Apple Inc (AAPL)
COM · CUSIP 037833100
0.0%$800k2,892
-$200k
-1,160 shares
Trimmed
Churchill Cap Corp Xi
CL A ORD SHS · CUSIP G2131A108
0.0%$800k45,590No earlier filingNew
El Pollo Loco HLDGS Inc
COM · CUSIP 268603107
0.0%$800k46,419
+$600k
+33,287 shares
Added
Macom Tech Solutions HLDGS I
COM · CUSIP 55405Y100
0.0%$800k2,048
+$500k
+985 shares
Added
American Pub Ed Inc
COM · CUSIP 02913V103
0.0%$800k13,971
-$100k
-151 shares
Trimmed
Affirm HLDGS Inc
COM CL A · CUSIP 00827B106
0.0%$700k8,958
+$500k
+4,195 shares
Added
United Airls HLDGS Inc
COM · CUSIP 910047109
0.0%$700k5,277No earlier filingNew
Mitek Sys Inc
COM NEW · CUSIP 606710200
0.0%$700k35,504
+$400k
+9,059 shares
Added
Xpo Inc (XPO)
COM · CUSIP 983793100
0.0%$700k3,396No earlier filingNew
Glaukos Corp (GKOS)
COM · CUSIP 377322102
0.0%$700k4,818No earlier filingNew
Camtek LTD (CAMT)
ORD · CUSIP M20791105
0.0%$700k4,113No earlier filingNew
Sharkninja Inc (SN)
COM SHS · CUSIP G8068L108
0.0%$600k4,146
+$400k
+1,655 shares
Added
Nexgen Energy LTD (NXE)
COM · CUSIP 65340P106
0.0%$600k62,639
-$800k
-54,971 shares
Trimmed
Formfactor Inc (FORM)
COM · CUSIP 346375108
0.0%$600k3,591No earlier filingNew
Talen Energy Corp (TLN)
COM · CUSIP 87422Q109
0.0%$600k1,473
+$300k
+791 shares
Added
Advanced Energy Inds
COM · CUSIP 007973100
0.0%$600k1,503No earlier filingNew
Vista Energy S.a.b. de C.v.
SPONSORED ADS · CUSIP 92837L109
0.0%$500k8,483
+$300k
+5,269 shares
Added
Arrowhead Pharmaceuticals In
COM · CUSIP 04280A100
0.0%$500k6,612No earlier filingNew
Integra Res Corp
COM · CUSIP 45826T509
0.0%$500k241,160No earlier filingNew
Lattice Semiconductor Corp (LSCC)
COM · CUSIP 518415104
0.0%$500k3,478No earlier filingNew
Thredup Inc (TDUP)
CL A · CUSIP 88556E102
0.0%$500k75,291No earlier filingNew
Rubrik Inc. (RBRK)
CL A · CUSIP 781154109
0.0%$500k6,201No earlier filingNew
Descartes Sys Group Inc
COM · CUSIP 249906108
0.0%$500k6,987No earlier filingNew
Eikon Therapeutics Inc (EIKN)
COM · CUSIP 282564103
0.0%$500k35,742No earlier filingNew
Franklin Resources Inc
COM · CUSIP 354613101
0.0%$500k13,760No earlier filingNew
Jazz Pharmaceuticals PLC (JAZZ)
SHS USD · CUSIP G50871105
0.0%$400k1,858No earlier filingNew
Natera Inc (NTRA)
COM · CUSIP 632307104
0.0%$400k1,627
+$200k
+358 shares
Added
SanDisk Corp (SNDK)
COM · CUSIP 80004C200
0.0%$400k193
+$200k
-260 shares
Trimmed
Ooma Inc (OOMA)
COM · CUSIP 683416101
0.0%$400k21,039No earlier filingNew
Ftai Aviation LTD
SHS · CUSIP G3730V105
0.0%$400k1,404
-$100k
-358 shares
Trimmed

Every filing on file

QuarterPeriod endFiledBookPositionsTop 10Filing
Q2 202630 Jun 20264 Aug 2026$11.6bn21959%13F-HR
Q1 202631 Mar 202614 May 2026$14.5bn22156%13F-HR
Q4 202531 Dec 202512 Feb 2026$23.4bn23458%13F-HR
Q3 202530 Sept 202512 Nov 2025$30.8bn23256%13F-HR
Q2 202530 Jun 202513 Aug 2025$32.6bn24059%13F-HR
Q1 202531 Mar 202512 May 2025$31.8bn11757%13F-HR
Q4 202431 Dec 202410 Feb 2025$37.0bn12458%13F-HR
Q3 202430 Sept 202410 Feb 2025$38.7bn11858%13F-HR

Taking this into the room

Pick one name from the top of the book and one from the new positions, and know both properly: what the company earns, what it is priced at, and what has to be true for the position to work. That is a conversation. Reciting the whole table is not, and the interviewer wrote it.

A position sold out of is worth as much preparation as one opened. Ask what changed rather than asserting the fund was wrong, and be ready for the answer that the thesis played out and the money went somewhere better.

Compare this against every other manager →How a hedge fund interview runs →

What this filing leaves out

A 13F covers US-listed long equity at one moment in time. Shorts, bonds, cash, private positions and non-US listings never appear, and options are reported in a form that will mislead you if you read them as a position. A long/short manager showing $8bn here may run a book several times that size.

The lag matters too. Positions are as at the quarter end and the filing arrives up to forty-five days later, so what you are reading is at least six weeks old and possibly four months. Phrase it as what the filing showed, not what the fund holds today.

Company names, tickers and logos are the trademarks of their respective owners and appear here to identify the company whose public figures are being used. L3VLUP is not affiliated with, sponsored by or endorsed by any company shown, and nothing here is a statement by or about that company. More