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Polen Capital

Q1 2021 13F · by Dan Davidowitz, portfolio manager

As of
Mar 31, 2021
Filed
May 12, 2021
US stock
$44.5B · prev $43.0B
Positions
71 · prev 72
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

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

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves78 since the prior filing

The book

Focused · behaves like 21 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Moderate turnover · 35% a year, about 2.8 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions36% of US stock

  1. META Meta Platforms, Inc. Class A added+0.45 pp added+0.458.3%
  2. MSFT Microsoft Corp added+0.32 pp added+0.328.2%
  3. GOOG Alphabet Inc. Class C trimmed+0.22 pp trimmed+0.227.2%
  4. ADBE Adobe Inc. added−0.39 pp added−0.396.5%
  5. ABT Abbott Laboratories added+0.37 pp added+0.375.6%

Positions71 in this filing · 7 exited

METAMeta Platforms, Inc. Class A8.27%12,497,902$3.7Badded+1%+0.45 pp24 q
MSFTMicrosoft Corp8.15%15,382,318$3.6Badded+1%+0.32 pp15 q
GOOGAlphabet Inc. Class C7.21%1,551,385$3.2Btrimmed−10%+0.22 pp28 q
ADBEAdobe Inc.6.47%6,056,335$2.9Badded+3%−0.39 pp25 q
ABTAbbott Laboratories5.58%20,712,324$2.5Badded+1%+0.37 pp7 q
ACNAccenture PLC4.93%7,934,854$2.2Badded+2%+0.21 pp32 q
MAMastercard Incorporated4.69%5,856,129$2.1Badded+1%−0.10 pp32 q
VVISA Inc.4.68%9,826,837$2.1Badded+2%−0.20 pp32 q
AMZNAmazon.Com Inc4.49%645,536$2.0Bnew+4.49 ppnew
CRMSalesforce, Inc.4.39%9,228,555$2.0Badded+31%+0.75 pp6 q
ZTSZoetis Inc.4.10%11,587,601$1.8Badded+2%−0.26 pp14 q
NOWServicenow, Inc.3.77%3,354,536$1.7Badded+3%−0.39 pp6 q
ADSKAutodesk Inc3.56%5,717,326$1.6Btrimmed−11%−0.98 pp5 q
PYPLPayPal Holdings, Inc.3.51%6,434,326$1.6Btrimmed−19%−0.82 pp9 q
SBUXStarbucks Corp3.45%14,048,204$1.5Badded+2%+0.02 pp32 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)2.99%3,569,650$1.3Badded+3%+0.16 pp3 q
NFLXNetFlix Inc2.75%2,346,817$1.2Bnew+2.75 ppnew
ITGartner, Inc.2.59%6,322,108$1.2Badded0%+0.24 pp32 q
NKENike, Inc.2.23%7,477,597$994Madded+2%−0.17 pp32 q
GOOGLAlphabet Inc. Class A2.21%477,409$985Madded+3%+0.33 pp22 q
ILMNIllumina Inc2.05%2,377,029$913Madded+2%+0.05 pp3 q
ALGNAlign Technology Inc1.90%1,564,625$847Mtrimmed−40%−1.33 pp21 q
ISRGIntuitive Surgical Inc.1.72%1,036,837$766Madded+3%−0.20 pp3 q
MSCIMSCI, Inc.1.29%1,367,415$573Mtrimmed−25%−0.60 pp7 q
BABAAlibaba Group Holding Limited0.69%1,363,684$309Madded+12%+0.03 pp22 q
ICLRIcon Plc0.34%767,550$151Madded+23%+0.06 pp16 q
AONAon plc Class A0.27%526,184$121Madded+39%+0.08 pp3 q
MDTMedtronic plc0.24%887,449$105Madded+9%+0.02 pp14 q
unresolvedNew Oriental Ed & Tech Grp I0.23%7,189,265$101Madded×13.60.00 pp5 q
SAPSap SE0.19%674,210$83Madded+3%−0.01 pp15 q
ELThe Estee Lauder Companies Inc. Class A0.11%162,841$47Madded0%+0.01 pp3 q
ADPAutomatic Data Processing0.10%241,129$45Mtrimmed−38%−0.06 pp31 q
IWFiShares Russell 1000 Growth ETF0.10%176,917$43Madded×2.8+0.06 pp30 q
unresolvedUnilever Spn.Adr 1:10.06%511,928$29Mtrimmed−24%−0.04 pp16 q
ETSYEtsy, Inc.0.04%82,144$17Madded+11%+0.01 pp5 q
ALRMAlarm.com Holdings, Inc.0.03%138,601$12Madded+21%0.00 pp14 q
BLBlackLine, Inc.0.03%104,517$11Madded+25%0.00 pp4 q
unresolvedDuck Creek Technologies0.03%249,436$11Mnew+0.03 ppnew
DAVAEndava plc0.03%134,349$11Madded+56%+0.01 pp2 q
EXPOExponent Inc0.03%129,515$13Madded+22%+0.01 pp6 q
FOXFFox Factory Holding Corp.0.03%119,659$15Madded+22%+0.01 pp15 q
GSHDGoosehead Insurance, Inc. Class A0.03%125,010$13Madded+61%+0.01 pp3 q
MEDPMedpace Holdings, Inc.0.03%81,948$13Madded+21%+0.01 pp4 q
RVLVRevolve Group, Inc.0.03%336,599$15Madded+24%+0.01 pp5 q
WINGWingstop Inc0.03%108,391$14Madded+42%+0.01 pp6 q
GLOBGlobant S.a.0.03%72,353$15Madded+20%0.00 pp12 q
AMNAMN Healthcare Services0.02%97,802$7Madded+24%+0.01 pp14 q
APPFAppFolio, Inc. Class A0.02%76,817$11Madded+21%−0.01 pp7 q
EEFTEuronet Worldwide Inc0.02%61,161$8Madded+20%0.00 pp13 q
HLIHoulihan Lokey, Inc.0.02%126,281$8Madded+21%0.00 pp4 q
MBUUMalibu Boats, Inc. Class A0.02%89,901$7Madded+24%+0.01 pp3 q
PGNYProgyny, Inc.0.02%221,805$10Mnew+0.02 ppnew
QLYSQualys, Inc.0.02%66,665$7Madded+24%0.00 pp4 q
SLPSimulations Plus, Inc.0.02%130,758$8Madded+46%+0.01 pp2 q
YETIYETI Holdings, Inc.0.02%131,131$9Madded+24%0.00 pp5 q
HELEHelen Of Troy Ltd0.02%39,962$8Madded+21%0.00 pp5 q
ALTRAltair Engineering Inc. Class A0.01%102,529$6Madded+24%0.00 pp9 q
AZPNAspen Technology Inc0.01%24,513$4Madded+46%0.00 pp2 q
CDWCDW Corporation0.01%15,967$3Madded+10%+0.01 pp2 q
DTDynatrace, Inc.0.01%76,473$4Madded+10%0.00 pp2 q
ENVEnvestnet, Inc.0.01%81,606$6Madded+20%0.00 pp6 q
FNDFloor & Decor Holdings, Inc.0.01%40,703$4Mtrimmed−57%−0.01 pp10 q
GNRCGenerac Holdings Inc0.01%12,979$4Madded+10%0.00 pp2 q
PCTYPaylocity Holding Corporation0.01%35,471$6Madded+24%0.00 pp5 q
TREXTrex Company, Inc.0.01%68,209$6Mtrimmed−35%−0.01 pp14 q
CPRTCopart Inc0.00%18,212$2Madded+11%0.00 pp2 q
HEIHEICO Corporation0.00%14,413$2Madded+10%0.00 pp2 q
TMETencent Music Entertainment Group0.00%55,214$1Madded×3.10.00 pp2 q
TPLCTimothy Plan US Large/Mid Cap Core ETF0.00%12,662$417,000new0.00 ppnew
CHKPCheck Point Software Technologies Ltd0.00%17,034$2Mtrimmed−95%−0.10 pp23 q
NBISNebius Group N.V. Class A0.00%31,308$2Mnew0.00 ppnew
DGDollar General Corp.—−5,796,091—exited−2.83 pp—
REGNRegeneron Pharmaceuticals Inc—−2,002,804—exited−2.25 pp—
WDFCWd-40 Co—−35,635—exited−0.02 pp—
ACWXiShares MSCI ACWI ex US ETF—−67,261—exited−0.01 pp—
TREELendingTree, Inc.—−16,965—exited−0.01 pp—
ACWIiShares MSCI ACWI ETF—−11,658—exited0.00 pp—
ORCLOracle Corp—−11,968—exited0.00 pp—

Source

Form
13F-HR
Reading
0 defects · 3 unresolved
Accession
0001172661-21-001092
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet