Polen Capital

Q2 2013 13F · by Dan Davidowitz, portfolio manager

Picture94.5% US stock

Full picture · of what this 13F reports is US stock

First filing on record. Nothing to compare against.

Concentrated · behaves like 18 equal-sized positions

Turnover · first filing on record


unresolvedGoogle Inc.	8.67%	414,322	$365M	held	—	new
NKENike, Inc.	8.09%	5,342,002	$340M	held	—	new
VVISA Inc.	7.56%	1,738,324	$318M	held	—	new
TROWT Rowe Price Group Inc	6.99%	4,020,795	$294M	held	—	new
QCOMQualcomm Inc	6.68%	4,597,182	$281M	held	—	new
unresolvedAllergan Inc	5.93%	2,958,238	$249M	held	—	new
SBUXStarbucks Corp	5.88%	3,777,260	$247M	held	—	new
unresolvedAbbott Labs	5.48%	6,610,245	$231M	held	—	new
ACNAccenture PLC	5.43%	3,174,669	$228M	held	—	new
INTUIntuit Inc	5.42%	3,736,618	$228M	held	—	new
ORCLOracle Corp	4.72%	6,460,886	$198M	held	—	new
GWWW.W. Grainger, Inc.	4.31%	719,389	$181M	held	—	new
EBAYeBay Inc	3.84%	3,124,211	$162M	held	—	new
ISRGIntuitive Surgical Inc.	3.75%	311,340	$158M	held	—	new
FDSFactset Research Systems	3.69%	1,521,372	$155M	held	—	new
AAPLApple Inc.	3.38%	358,468	$142M	held	—	new
VARVarian Medical Systems, Inc.	3.23%	2,016,184	$136M	held	—	new
CHRWC.H. Robinson Worldwide, Inc.	2.51%	1,872,736	$105M	held	—	new
ITGartner, Inc.	2.30%	1,697,884	$97M	held	—	new
FASTFastenal Co	1.95%	1,789,404	$82M	held	—	new
IWFiShares Russell 1000 Growth ETF	0.12%	70,367	$5M	held	—	new
MAMastercard Incorporated	0.01%	573	$329,000	held	—	new
NVONovo-Nordisk A/S	0.01%	2,258	$350,000	held	—	new
REGNRegeneron Pharmaceuticals Inc	0.01%	1,751	$394,000	held	—	new
SAPSap SE	0.01%	5,485	$399,000	held	—	new
CLBCore Laboratories Inc.	0.01%	3,306	$501,000	held	—	new