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Polen Capital

Q4 2021 13F · by Dan Davidowitz, portfolio manager

As of
Dec 31, 2021
Filed
Feb 11, 2022
US stock
$59.5B · prev $54.5B
Positions
92 · prev 91
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%

Moves91 since the prior filing

The book

Focused · behaves like 22 equal-sized positions

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

Low turnover · 8.0% a year, about 12.4 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions33% of US stock

  1. AMZN Amazon.Com Inc added+1.30 pp added+1.308.3%
  2. GOOG Alphabet Inc. Class C added+0.14 pp added+0.147.8%
  3. META Meta Platforms, Inc. Class A trimmed−2.34 pp trimmed−2.345.9%
  4. MSFT Microsoft Corp added+0.55 pp added+0.555.7%
  5. ABT Abbott Laboratories added+0.56 pp added+0.565.3%

Positions92 in this filing · 4 exited

AMZNAmazon.Com Inc8.25%1,473,347$4.9Badded+28%+1.30 pp4 q
GOOGAlphabet Inc. Class C7.75%1,595,228$4.6Badded+3%+0.14 pp31 q
METAMeta Platforms, Inc. Class A5.90%10,442,770$3.5Btrimmed−21%−2.34 pp27 q
MSFTMicrosoft Corp5.74%10,163,241$3.4Badded+1%+0.55 pp18 q
ABTAbbott Laboratories5.33%22,551,358$3.2Badded+2%+0.56 pp10 q
ADBEAdobe Inc.5.18%5,439,885$3.1Btrimmed−5%−0.85 pp28 q
MAMastercard Incorporated4.84%8,021,640$2.9Badded+5%−0.04 pp35 q
ACNAccenture PLC4.69%6,736,383$2.8Badded0%+0.74 pp35 q
CRMSalesforce, Inc.4.31%10,088,504$2.6Badded+3%−0.56 pp9 q
VVISA Inc.4.18%11,493,290$2.5Badded+5%−0.28 pp35 q
ZTSZoetis Inc.4.03%9,819,787$2.4Badded+2%+0.62 pp17 q
ADSKAutodesk Inc3.44%7,284,891$2.0Badded+6%−0.17 pp8 q
NOWServicenow, Inc.3.44%3,152,215$2.0Badded+3%−0.06 pp9 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)3.27%3,877,447$1.9Badded+2%+0.54 pp6 q
GOOGLAlphabet Inc. Class A2.88%592,834$1.7Badded+3%+0.06 pp25 q
ABNBAirbnb, Inc. Class A2.78%9,923,783$1.7Badded+4%−0.16 pp2 q
NFLXNetFlix Inc2.73%2,694,913$1.6Badded+3%−0.20 pp4 q
SBUXStarbucks Corp2.59%13,179,043$1.5Badded+1%−0.04 pp35 q
ITGartner, Inc.2.58%4,595,720$1.5Badded+2%+0.07 pp35 q
PYPLPayPal Holdings, Inc.2.37%7,472,721$1.4Badded+9%−0.91 pp12 q
NKENike, Inc.2.30%8,213,772$1.4Badded+2%+0.16 pp35 q
ISRGIntuitive Surgical Inc.2.06%3,406,918$1.2Badded+3%+0.06 pp6 q
ALGNAlign Technology Inc1.96%1,777,198$1.2Badded+7%−0.06 pp24 q
ILMNIllumina Inc1.70%2,662,702$1.0Badded+5%−0.19 pp6 q
MSCIMSCI, Inc.1.46%1,416,033$868Madded+2%−0.08 pp10 q
DOCUDocuSign, Inc.0.96%3,738,508$569Mnew+0.96 ppnew
ICLRIcon Plc0.83%1,586,759$491Mtrimmed−4%+0.03 pp19 q
AONAon plc Class A0.53%1,042,408$313Madded+2%−0.01 pp6 q
SAPSap SE0.19%809,865$113Madded+2%−0.01 pp18 q
MDTMedtronic plc0.17%1,006,439$104Mtrimmed−1%−0.06 pp17 q
IWFiShares Russell 1000 Growth ETF0.12%239,423$73Madded×3.6+0.09 pp33 q
ADPAutomatic Data Processing0.11%272,171$67Mtrimmed−2%+0.01 pp34 q
ASMLASML Holding NV0.11%80,770$64Madded+3%0.00 pp3 q
MELIMercado Libre, Inc0.10%45,222$61Madded×2.6+0.05 pp3 q
GLOBGlobant S.a.0.09%177,024$56Madded×2.1+0.05 pp15 q
FOXFFox Factory Holding Corp.0.05%172,966$29Madded+25%+0.01 pp18 q
ACWXiShares MSCI ACWI ex US ETF0.05%577,855$32Madded×45.1+0.05 pp3 q
TRUPTrupanion, Inc.0.05%207,364$27Madded+25%+0.03 pp3 q
unresolvedUnilever Spn.Adr 1:10.05%521,260$28Mtrimmed−3%0.00 pp19 q
WINGWingstop Inc0.05%156,459$27Madded+25%+0.01 pp9 q
DAVAEndava plc0.04%155,570$26Madded+2%0.00 pp5 q
EXPOExponent Inc0.04%188,320$22Madded+26%+0.01 pp9 q
GSHDGoosehead Insurance, Inc. Class A0.04%183,163$24Madded+15%0.00 pp6 q
MEDPMedpace Holdings, Inc.0.04%118,225$26Madded+25%+0.01 pp7 q
RVLVRevolve Group, Inc.0.04%384,363$22Madded+28%+0.01 pp8 q
SHOPShopify Inc. Class A subordinate voting shares0.04%19,001$26Madded0%−0.01 pp3 q
AMNAMN Healthcare Services0.03%146,291$18Madded+29%+0.01 pp17 q
ALRMAlarm.com Holdings, Inc.0.03%199,775$17Madded+25%+0.01 pp17 q
APPFAppFolio, Inc. Class A0.03%126,611$15Madded+26%+0.01 pp10 q
BLBlackLine, Inc.0.03%159,576$17Madded+31%0.00 pp7 q
unresolvedDuck Creek Technologies0.03%543,916$16Madded+67%0.00 pp4 q
HLIHoulihan Lokey, Inc.0.03%182,141$19Madded+25%+0.01 pp7 q
PGNYProgyny, Inc.0.03%385,879$19Madded+25%0.00 pp4 q
WRBYWarby Parker Inc.0.03%323,557$15Mnew+0.03 ppnew
YETIYETI Holdings, Inc.0.03%228,774$19Madded+50%+0.01 pp8 q
ALTRAltair Engineering Inc. Class A0.02%153,381$12Madded+29%0.00 pp12 q
CMRCCommerce.com, Inc. Series 10.02%303,717$11Mnew+0.02 ppnew
MBUUMalibu Boats, Inc. Class A0.02%136,241$9Madded+30%+0.01 pp6 q
OLOOlo Inc.0.02%704,500$15Madded+43%−0.01 pp2 q
PCTYPaylocity Holding Corporation0.02%41,861$10Madded+16%0.00 pp8 q
QLYSQualys, Inc.0.02%99,669$14Madded+29%0.00 pp7 q
HELEHelen Of Troy Ltd0.02%57,592$14Madded+25%0.00 pp8 q
AZPNAspen Technology Inc0.01%21,682$3Mtrimmed−21%0.00 pp5 q
CDWCDW Corporation0.01%19,742$4Madded+11%0.00 pp5 q
CPRTCopart Inc0.01%22,409$3Madded+11%0.00 pp5 q
DTDynatrace, Inc.0.01%80,853$5Mtrimmed−6%0.00 pp5 q
ETSYEtsy, Inc.0.01%26,807$6Mtrimmed−59%−0.01 pp8 q
FICOFair Isaac Corporation0.01%7,739$3Madded+25%+0.01 pp2 q
FTCHQFarfetch Limited A0.01%91,689$3Madded+48%+0.01 pp3 q
CATHGlobal X S&P 500 Catholic Values ETF0.01%144,531$9Madded+45%0.00 pp2 q
ACWIiShares MSCI ACWI ETF0.01%81,927$9Madded×21.5+0.01 pp3 q
PAYCPaycom Software, Inc.0.01%11,880$5Madded+26%0.00 pp3 q
RHRh0.01%10,292$6Madded+41%0.00 pp2 q
TTDThe Trade Desk, Inc.0.01%35,071$3Mtrimmed−32%0.00 pp3 q
TREXTrex Company, Inc.0.01%35,581$5Madded+11%0.00 pp17 q
TYLTyler Technologies, Inc.0.01%9,297$5Madded+22%0.00 pp2 q
BABAAlibaba Group Holding Limited0.00%2,244$267,000trimmed−100%−0.13 pp25 q
ATHMAutohome Inc.0.00%10,995$324,000held—2 q
BKNGBooking Holdings Inc.0.00%134$321,000held—2 q
DGDollar General Corp.0.00%4,138$976,000trimmed−21%0.00 pp2 q
EPAMEpam Systems, Inc.0.00%3,378$2Mtrimmed−28%0.00 pp2 q
FNDFloor & Decor Holdings, Inc.0.00%4,689$610,000new0.00 ppnew
LUXELuxExperience B.V.0.00%55,300$1Mnew0.00 ppnew
ORLYO'Reilly Automotive, Inc.0.00%1,035$731,000held—2 q
ORCLOracle Corp0.00%4,216$368,000held—2 q
REGNRegeneron Pharmaceuticals Inc0.00%1,938$1Mtrimmed−10%0.00 pp2 q
TALTAL Education Group0.00%17,340$68,000held—3 q
TMETencent Music Entertainment Group0.00%118,139$809,000added+69%0.00 pp5 q
TPIFTimothy Plan International ETF0.00%12,139$353,000added+2%0.00 pp3 q
TPLCTimothy Plan US Large/Mid Cap Core ETF0.00%34,353$1Madded×2.70.00 pp4 q
NBISNebius Group N.V. Class A0.00%35,513$2Madded+11%0.00 pp4 q
KAROKarooooo Ltd.0.00%41,184$2Madded+7%0.00 pp3 q
SLPSimulations Plus, Inc.—−178,076—exited−0.01 pp—
GNRCGenerac Holdings Inc—−6,436—exited0.00 pp—
HEIHEICO Corporation—−16,074—exited0.00 pp—
ELThe Estee Lauder Companies Inc. Class A—−2,707—exited0.00 pp—

Source

Form
13F-HR
Reading
0 defects · 2 unresolved
Accession
0001172661-22-000331
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet