MondegarAI
POLEN CAPITAL MANAGEMENT LLC

Q4 2025 · 13F-HR

POLEN CAPITAL MANAGEMENT LLCholdings as filed

Filed 2026-02-12 · accession 0001172661-26-000654

$23.42B
Reported value
234
Positions
2025-12-31
Period end
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The Brief · POLEN CAPITAL MANAGEMENT LLC · Q4 2025

AI · grounded in 13F

Polen Capital Management LLC established a new position in ISRG valued at $477.2M. The fund significantly increased its holdings in SPOT, IWF, and ACWI. Conversely, it reduced exposure to several holdings, most notably trimming shares of NFLX by 63.7% and ABT by 46.6%.

Holdings as filed

CUSIPTickerIssuerValue% port.SharesClassVoting
023135106AMZNAMAZON COM INC$2.00B8.53%8,653,721CommonSOLE
594918104MSFTMICROSOFT CORP$1.89B8.07%3,909,985CommonSOLE
68389X105ORCLORACLE CORP$1.40B5.98%7,185,496CommonSOLE
532457108LLYELI LILLY & CO$1.34B5.72%1,246,090CommonSOLE
02079K107GOOGALPHABET INC$1.26B5.38%4,018,121CommonSOLE
11135F101AVGOBROADCOM INC$1.22B5.22%3,531,637CommonSOLE
57636Q104MAMASTERCARD INCORPORATED$1.22B5.20%2,131,727CommonSOLE
92826C839VVISA INC$1.18B5.05%3,375,342CommonSOLE
82509L107SHOPSHOPIFY INC$1.16B4.95%7,201,872CommonSOLE
67066G104NVDANVIDIA CORPORATION$993.7M4.24%5,328,112CommonSOLE
81762P102NOWSERVICENOW INC$870.2M3.72%5,680,788CommonSOLE
55354G100MSCIMSCI INC$763.7M3.26%1,331,085CommonSOLE
98978V103ZTSZOETIS INC$699.9M2.99%5,562,669CommonSOLE
G0403H108AONAON PLC$651.5M2.78%1,846,294CommonSOLE
45168D104IDXXIDEXX LABS INC$649.8M2.77%960,537CommonSOLE
855244109SBUXSTARBUCKS CORP$571.4M2.44%6,785,308CommonSOLE
G1151C101ACNACCENTURE PLC IRELAND$505.1M2.16%1,882,707CommonSOLE
002824100ABTABBOTT LABS$496.4M2.12%3,962,230CommonSOLE
46120E602ISRGINTUITIVE SURGICAL INC$477.2M2.04%842,618CommonSOLE
00724F101ADBEADOBE INC$470.9M2.01%1,345,588CommonSOLE
009066101ABNBAIRBNB INC$411.3M1.76%3,030,730CommonSOLE
871607107SNPSSYNOPSYS INC$396.9M1.69%844,881CommonSOLE
101137107BSXBOSTON SCIENTIFIC CORP$383.3M1.64%4,019,552CommonSOLE
464287614IWFISHARES TR$367.3M1.57%776,086CommonSOLE
461202103INTUINTUIT$339.6M1.45%512,656CommonSOLE
22160N109CSGPCOSTAR GROUP INC$328.9M1.40%4,890,936CommonSOLE
70432V102PAYCPAYCOM SOFTWARE INC$292.4M1.25%1,835,028CommonSOLE
90353T100UBERUBER TECHNOLOGIES INC$291.4M1.24%3,565,793CommonSOLE
58733R102MELIMERCADOLIBRE INC$96.5M0.41%47,920CommonSOLE
464288257ACWIISHARES TR$86.3M0.37%610,133CommonSOLE
874039100TSMTAIWAN SEMICONDUCTOR MFG LTD$61.0M0.26%200,593CommonSOLE
803054204SAPSAP SE$56.7M0.24%233,332CommonSOLE
L8681T102SPOTSPOTIFY TECHNOLOGY S A$41.6M0.18%71,658CommonSOLE
G6683N103NUNU HLDGS LTD$19.4M0.08%1,157,836CommonSOLE
G4705A100ICLRICON PLC$19.2M0.08%105,206CommonSOLE
64110L106NFLXNETFLIX INC$16.3M0.07%173,797CommonSOLE
922908736VUGVANGUARD INDEX FDS$16.2M0.07%33,124CommonSOLE
40415F101HDBHDFC BANK LTD$13.4M0.06%367,007CommonSOLE
N07059210ASMLASML HOLDING N V$12.0M0.05%11,195CommonSOLE
M7S64H106MNDYMONDAY COM LTD$11.7M0.05%79,332CommonSOLE
02079K305GOOGLALPHABET INC$9.7M0.04%30,864CommonSOLE
464287200IVVISHARES TR$9.4M0.04%13,669CommonSOLE
H5919C104ONONON HLDG AG$9.0M0.04%194,483CommonSOLE
G96629103WTWWILLIS TOWERS WATSON PLC LTD$9.0M0.04%27,425CommonSOLE
464288240ACWXISHARES TR$8.5M0.04%126,761CommonSOLE
G5960L103MDTMEDTRONIC PLC$8.1M0.03%84,500CommonSOLE
04010E109AGXARGAN INC$7.8M0.03%24,886CommonSOLE
81663L200WGSGENEDX HOLDINGS CORP$7.8M0.03%59,861CommonSOLE
88034P109TMETENCENT MUSIC ENTMT GROUP$7.2M0.03%412,467CommonSOLE
G29018101DLODLOCAL LTD$6.6M0.03%466,809CommonSOLE
093712107BEBLOOM ENERGY CORP$6.6M0.03%75,434CommonSOLE
739128106POWLPOWELL INDS INC$6.5M0.03%20,341CommonSOLE
918284100VSECVSE CORP$5.9M0.03%34,390CommonSOLE
L44385109GLOBGLOBANT S A$5.9M0.03%90,462CommonSOLE
05605H100BWXTBWX TECHNOLOGIES INC$5.6M0.02%32,328CommonSOLE
81141R100SESEA LTD$5.4M0.02%42,710CommonSOLE
00650F109ADPTADAPTIVE BIOTECHNOLOGIES COR$5.3M0.02%325,767CommonSOLE
922042742VTVANGUARD INTL EQUITY INDEX F$4.7M0.02%33,592CommonSOLE
78462F103SPYSPDR S&P 500 ETF TR$4.6M0.02%6,717CommonSOLE
V5633W109MMYTMAKEMYTRIP LIMITED MAURITIUS$4.4M0.02%53,658CommonSOLE
76134H101RHLDRESOLUTE HLDGS MGMT INC$4.3M0.02%20,915CommonSOLE
44951W106IESCIES HLDGS INC$4.3M0.02%10,941CommonSOLE
125141101CECOCECO ENVIRONMENTAL CORP$4.2M0.02%69,775CommonSOLE
077347300BELFBBEL FUSE INC$3.8M0.02%22,522CommonSOLE
146869102CVNACARVANA CO$3.8M0.02%8,974CommonSOLE
45104G104IBNICICI BANK LIMITED$3.7M0.02%123,872CommonSOLE
88160R101TSLATESLA INC$3.7M0.02%8,171CommonSOLE
722304102PDDPDD HOLDINGS INC$3.6M0.02%31,329CommonSOLE
40416E103HCIHCI GROUP INC$3.5M0.01%18,126CommonSOLE
Y4600W108KAROKAROOOOO LTD$3.4M0.01%74,821CommonSOLE
G65163100JOBYJOBY AVIATION INC$3.3M0.01%250,067CommonSOLE
83406F102SOFISOFI TECHNOLOGIES INC$3.1M0.01%117,450CommonSOLE
10806X102BBIOBRIDGEBIO PHARMA INC$2.9M0.01%38,241CommonSOLE
046433108ATROASTRONICS CORP$2.9M0.01%53,691CommonSOLE
88339P101REALTHE REALREAL INC$2.8M0.01%175,088CommonSOLE
94419L101WWAYFAIR INC$2.7M0.01%26,857CommonSOLE
46266A109IRMDIRADIMED CORP$2.6M0.01%26,891CommonSOLE
23834J201DAVEDAVE INC$2.6M0.01%11,805CommonSOLE
447462102HURNHURON CONSULTING GROUP INC$2.6M0.01%15,086CommonSOLE
13321L108CCJCAMECO CORP$2.6M0.01%28,174CommonSOLE
46578C108IEIVANHOE ELECTRIC INC$2.5M0.01%157,882CommonSOLE
00827B106AFRMAFFIRM HLDGS INC$2.5M0.01%32,969CommonSOLE
98138H101WDAYWORKDAY INC$2.3M0.01%10,782CommonSOLE
65487K100LASRNLIGHT INC$2.3M0.01%61,624CommonSOLE
03214Q108AMPXAMPRIUS TECHNOLOGIES INC$2.3M0.01%288,290CommonSOLE
37954Y889CATHGLOBAL X FDS$2.3M0.01%27,566CommonSOLE
55826T102SPHRSPHERE ENTERTAINMENT CO$2.3M0.01%23,828CommonSOLE
366651107ITGARTNER INC$2.2M0.01%8,753CommonSOLE
72703X106PLPLANET LABS PBC$2.2M0.01%111,538CommonSOLE
336433107FSLRFIRST SOLAR INC$2.2M0.01%8,302CommonSOLE
112463104BKDBROOKDALE SR LIVING INC$2.2M0.01%200,588CommonSOLE
05605H100BWXTBWX TECHNOLOGIES INC$2.2M0.01%12,500PUTSOLE
037833100AAPLAPPLE INC$2.1M0.01%7,724CommonSOLE
02081G201ATECALPHATEC HLDGS INC$2.0M0.01%95,761CommonSOLE
40131M109GHGUARDANT HEALTH INC$2.0M0.01%19,667CommonSOLE
607828100MODMODINE MFG CO$1.9M0.01%14,309CommonSOLE
144285103CRSCARPENTER TECHNOLOGY CORP$1.9M0.01%6,062CommonSOLE
922908769VTIVANGUARD INDEX FDS$1.9M0.01%5,677CommonSOLE
093712107BEBLOOM ENERGY CORP$1.9M0.01%21,600PUTSOLE
60471A101MIRMIRION TECHNOLOGIES INC$1.9M0.01%79,419CommonSOLE
124155102BFLYBUTTERFLY NETWORK INC$1.8M0.01%472,971CommonSOLE
74366E102PTGXPROTAGONIST THERAPEUTICS INC$1.8M0.01%20,349CommonSOLE
75704L104RDVTRED VIOLET INC$1.7M0.01%30,328CommonSOLE
450047303IRSIRSA INVERSIONES Y REP S A$1.7M0.01%102,911CommonSOLE
G87110105FTITECHNIPFMC PLC$1.6M0.01%35,915CommonSOLE
75134P600METCRAMACO RES INC$1.6M0.01%88,507CommonSOLE
50077B207KTOSKRATOS DEFENSE & SEC SOLUTIO$1.5M0.01%19,697CommonSOLE
18467V109YOUCLEAR SECURE INC$1.4M0.01%39,325CommonSOLE
48238T109OPLNOPENLANE INC$1.4M0.01%46,259CommonSOLE
L1995B107CAAPCORPORACION AMER ARPTS S A$1.3M0.01%51,919CommonSOLE
883556102TMOTHERMO FISHER SCIENTIFIC INC$1.3M0.01%2,307CommonSOLE
98423F109XMTRXOMETRY INC$1.3M0.01%22,321CommonSOLE
M7S64L123PGYPAGAYA TECHNOLOGIES LTD$1.3M0.01%63,497CommonSOLE
89377M109TMDXTRANSMEDICS GROUP INC$1.3M0.01%10,828CommonSOLE
83418M103SEISOLARIS ENERGY INFRAS INC$1.3M0.01%28,597CommonSOLE
296006109EROERO COPPER CORP$1.3M0.01%45,544CommonSOLE
829401108SIONSIONNA THERAPEUTICS INC$1.3M0.01%31,258CommonSOLE
G31249108ESTAESTABLISHMENT LABS HLDGS INC$1.3M0.01%17,475CommonSOLE
29667J101ESQESQUIRE FINL HLDGS INC$1.2M0.01%11,709CommonSOLE
683797104OPYOPPENHEIMER HLDGS INC$1.2M0.01%16,343CommonSOLE
740444104PLPCPREFORMED LINE PRODS CO$1.2M0.00%5,660CommonSOLE
384747101GRALGRAIL INC$1.2M0.00%13,526CommonSOLE
53635D202LQDALIQUIDIA CORPORATION$1.2M0.00%33,538CommonSOLE
50015M109KODKODIAK SCIENCES INC$1.2M0.00%41,340CommonSOLE
399909100GGALGRUPO FINANCIERO GALICIA S.A$1.2M0.00%21,373CommonSOLE
21044C107ROADCONSTRUCTION PARTNERS INC$1.2M0.00%10,615CommonSOLE
228903100AORTARTIVION INC$1.2M0.00%25,259CommonSOLE
G25457105CRDOCREDO TECHNOLOGY GROUP HOLDI$1.1M0.00%7,915CommonSOLE
44267T102HHHHOWARD HUGHES HOLDINGS INC$1.1M0.00%13,980CommonSOLE
83406F102SOFISOFI TECHNOLOGIES INC$1.1M0.00%41,800PUTSOLE
773121108RKLBROCKET LAB CORP$1.1M0.00%15,324CommonSOLE
604749101MIRMMIRUM PHARMACEUTICALS INC$1.1M0.00%13,360CommonSOLE
98422E103XERSXERIS BIOPHARMA HOLDINGS INC$1.0M0.00%133,416CommonSOLE
21037T109CEGCONSTELLATION ENERGY CORP$993,3950.00%2,812CommonSOLE
L6388F110TIGOMILLICOM INTL CELLULAR S A$980,4560.00%17,685CommonSOLE
046224101ASTEASTEC INDS INC$967,9420.00%22,344CommonSOLE
80706P103SRRKSCHOLAR ROCK HLDG CORP$958,6160.00%21,762CommonSOLE
05465C100AXAXOS FINANCIAL INC$946,5540.00%10,986CommonSOLE
50127T109KURAKURA ONCOLOGY INC$943,9000.00%90,847CommonSOLE
88556E102TDUPTHREDUP INC$930,4800.00%145,615CommonSOLE
67079K100SMRNUSCALE PWR CORP$915,5950.00%64,615CommonSOLE
877619106TSHATAYSHA GENE THERAPIES INC$861,2230.00%156,586CommonSOLE
91688F104UPWKUPWORK INC$854,4600.00%43,111CommonSOLE
05614L209BWBABCOCK & WILCOX ENTERPRISES$775,2550.00%122,280CommonSOLE
00218A105ASPIASP ISOTOPES INC$746,3840.00%139,511CommonSOLE
51819L107SWIMLATHAM GROUP INC$713,6640.00%112,388CommonSOLE
92645B103VCTRVICTORY CAP HLDGS INC$703,1380.00%11,145CommonSOLE
154760409CPFCENTRAL PAC FINL CORP$690,1940.00%22,150CommonSOLE
79466L302CRMSALESFORCE INC$683,7750.00%2,581CommonSOLE
030111207AMSCAMERICAN SUPERCONDUCTOR CORP$678,2010.00%23,565CommonSOLE
231561101CWCURTISS WRIGHT CORP$667,5880.00%1,211CommonSOLE
M7518J104ODDODDITY TECH LTD$649,9120.00%16,175CommonSOLE
45174J509IHRTIHEARTMEDIA INC$646,9470.00%155,516CommonSOLE
20459V105GPGICOMPOSECURE INC$643,8560.00%33,395CommonSOLE
724479100PBIPITNEY BOWES INC$641,7050.00%60,710CommonSOLE
670703107NUVLNUVALENT INC$639,6520.00%6,359CommonSOLE
M6191J100FROGJFROG LTD$617,3550.00%9,884CommonSOLE
23282W605CYTKCYTOKINETICS INC$608,9670.00%9,584CommonSOLE
78397Q109SESSES AI CORPORATION$608,6810.00%338,156CommonSOLE
00760J108AEHRAEHR TEST SYS$607,9410.00%30,111CommonSOLE
859241101STRLSTERLING INFRASTRUCTURE INC$597,7610.00%1,952CommonSOLE
30260D103FIGSFIGS INC$554,6860.00%48,828CommonSOLE
92259N302VELOVELO3D INC$548,1710.00%39,896CommonSOLE
G3730V105FTAIFTAI AVIATION LTD$540,9440.00%2,748CommonSOLE
02913V103APEIAMERICAN PUB ED INC$533,6230.00%14,117CommonSOLE
136635109CSIQCANADIAN SOLAR INC$528,2410.00%22,223CommonSOLE
630402105NSSCNAPCO SEC TECHNOLOGIES INC$524,0440.00%12,567CommonSOLE
349381103FIGRFIGURE TECHNOLOGY SOLUTIO$522,8750.00%12,803CommonSOLE
29082A107EMBJEMBRAER S.A.$510,0680.00%7,924CommonSOLE
053015103ADPAUTOMATIC DATA PROCESSING IN$508,3940.00%1,976CommonSOLE
87422Q109TLNTALEN ENERGY CORP$505,6590.00%1,349CommonSOLE
46436E718SGOVISHARES TR$499,0890.00%4,972CommonSOLE
733245104PRCHPORCH GROUP INC$490,1260.00%53,683CommonSOLE
629377508NRGNRG ENERGY INC$482,9750.00%3,033CommonSOLE
485924104KRMNKARMAN HLDGS INC$472,3120.00%6,455CommonSOLE
15102K100CELCCELCUITY INC$464,7880.00%4,660CommonSOLE
53263P105LMBLIMBACH HLDGS INC$458,6920.00%5,892CommonSOLE
42226A107HQYHEALTHEQUITY INC$456,2180.00%4,980CommonSOLE
56146T103MAMAMAMAS CREATIONS INC$445,0220.00%32,989CommonSOLE
24823R105DNLIDENALI THERAPEUTICS INC$444,1190.00%26,900CommonSOLE
80004C200SNDKSANDISK CORP$441,5270.00%1,860CommonSOLE
830879102SKYWSKYWEST INC$439,7960.00%4,380CommonSOLE
N30577105ZGNERMENEGILDO ZEGNA N V$438,3720.00%42,768CommonSOLE
90138F102TWLOTWILIO INC$434,6850.00%3,056CommonSOLE
29664W105ESPRESPERION THERAPEUTICS INC NE$430,2800.00%116,292CommonSOLE
68386H103OPFIOPPFI INC$423,3370.00%40,472CommonSOLE
55406W103LUXELUXEXPERIENCE BV$419,6540.00%50,258CommonSOLE
590717401MESOMESOBLAST LTD$415,0100.00%23,005CommonSOLE
65158N102NMRKNEWMARK GROUP INC$409,5530.00%23,619CommonSOLE
392709101GRBKGREEN BRICK PARTNERS INC$408,9190.00%6,526CommonSOLE
008073108AVAVAEROVIRONMENT INC$408,5520.00%1,689CommonSOLE
71535D106PSNLPERSONALIS INC$403,6120.00%50,705CommonSOLE
384556106GHMGRAHAM CORP$399,3180.00%6,217CommonSOLE
00090Q103ADTADT INC DEL$398,4000.00%49,368CommonSOLE
91324P102UNHUNITEDHEALTH GROUP INC$395,2250.00%1,197CommonSOLE
N62509109NAMSNEWAMSTERDAM PHARMA COMPANY$394,2640.00%11,239CommonSOLE
58506Q109MEDPMEDPACE HLDGS INC$390,9080.00%696CommonSOLE
00508Y102AYIACUITY INC$382,0020.00%1,061CommonSOLE
68062P106OLMAOLEMA PHARMACEUTICALS INC$380,1500.00%15,206CommonSOLE
03782L101APPNAPPIAN CORP$367,1640.00%10,366CommonSOLE
00246W103AXTIAXT INC$363,2150.00%22,215CommonSOLE
55087P104LYFTLYFT INC$353,2890.00%18,239CommonSOLE
00288U106ABCLABCELLERA BIOLOGICS INC$350,5770.00%102,508CommonSOLE
052769106ADSKAUTODESK INC$349,7850.00%1,182CommonSOLE
974250102WINAWINMARK CORP$347,8430.00%859CommonSOLE
464287572IOOISHARES TR$347,4180.00%2,743CommonSOLE
364760108GAPGAP INC$329,2160.00%12,860CommonSOLE
957638109WALWESTERN ALLIANCE BANCORP$319,2140.00%3,797CommonSOLE
43538H103HLLYHOLLEY INC$318,1420.00%77,032CommonSOLE
81764X103TTANSERVICETITAN INC$316,8380.00%2,975CommonSOLE
632307104NTRANATERA INC$315,2280.00%1,376CommonSOLE
624756102MLIMUELLER INDS INC$312,2560.00%2,720CommonSOLE
04247X102AWIARMSTRONG WORLD INDS INC NEW$288,7520.00%1,511CommonSOLE
M85548101SSYSSTRATASYS LTD$282,0390.00%32,493CommonSOLE
903731107ULSUL SOLUTIONS INC$269,7010.00%3,420CommonSOLE
04351P101ASNDUSDASCENDIS PHARMA A/S$258,2340.00%1,211CommonSOLE
69404D108PACBPACIFIC BIOSCIENCES CALIF IN$256,4690.00%137,149CommonSOLE
87151X101SYMSYMBOTIC INC$255,7310.00%4,298CommonSOLE
53190C102LTHLIFE TIME GROUP HOLDINGS INC$255,4070.00%9,609CommonSOLE
21676P103CPSCOOPER STD HLDGS INC$250,6570.00%7,635CommonSOLE
29415C101EOSEEOS ENERGY ENTERPRISES INC$241,5770.00%21,080CommonSOLE
91332U101UUNITY SOFTWARE INC$240,6820.00%5,449CommonSOLE
70614W100PTONPELOTON INTERACTIVE INC$226,6570.00%36,795CommonSOLE
81758H106SERVSERVE ROBOTICS INC$226,6270.00%21,833CommonSOLE
88023B103TEMTEMPUS AI INC$221,7920.00%3,756CommonSOLE
18453H106CCOCLEAR CHANNEL OUTDOOR HLDGS$211,9660.00%95,912CommonSOLE
743713109PRLBPROTO LABS INC$209,8470.00%4,148CommonSOLE
G76279101ROIVROIVANT SCIENCES LTD$209,6650.00%9,662CommonSOLE
765504105RRRICHTECH ROBOTICS INC$207,6830.00%64,298CommonSOLE
70450Y103PYPLPAYPAL HLDGS INC$203,5990.00%3,487CommonSOLE
687793109OSCROSCAR HEALTH INC$197,6590.00%13,755CommonSOLE
74017N105PGENPRECIGEN INC$175,9570.00%42,095CommonSOLE
39813G109GDYNGRID DYNAMICS HLDGS INC$175,0280.00%19,383CommonSOLE
H82027105SOPHSOPHIA GENETICS SA$101,5160.00%21,738CommonSOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.