David M. Polen – Polen Capital Management Portfolio Activity & Recent Trades (Dec 31, 2025)
As of Dec 31, 2025, the Polen Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 12, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q4 2025, the filing reported:
New Buys – Artivion, Inc., American Public Education, Inc., Appian Corporation, AXT Inc, Butterfly Network, Inc., and 44 more
Increases – iShares MSCI ACWI ETF, iShares MSCI ACWI ex U.S. ETF, Adaptive Biotechnologies Corpor, Aehr Test Systems, Astec Industries, Inc., and 40 more
Reductions – Apple Inc., AbCellera Biologics Inc., Airbnb, Inc., Abbott Laboratories, Accenture plc, and 116 more
Complete Exits – Archer Aviation Inc., Alnylam Pharmaceuticals, Inc., AppFolio, Inc., Arlo Technologies, Inc., Aurora Innovation, Inc., and 52 more
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Name | Type | Change Qty | % Change | Value | Remaining |
|---|---|---|---|---|---|---|---|
Q4 2025 | AAPL Apple Inc. | Apple Inc. | Sell | -7,631 | -49.7% | $2.10M | 7,724 |
Q4 2025 | ABCL AbCellera Biologics Inc. | AbCellera Biologics Inc. | Sell | -166,740 | -61.9% | $350.58K | 102,508 |
Q4 2025 | ABNB Airbnb, Inc. | Airbnb, Inc. | Sell | -943,841 | -23.7% | $411.33M | 3,030,730 |
Q4 2025 | ABT Abbott Laboratories | Abbott Laboratories | Sell | -3,458,374 | -46.6% | $496.43M | 3,962,230 |
Q4 2025 | ACHR Archer Aviation Inc. | Archer Aviation Inc. | Sell - Position Exit | -81,485 | -100.0% | $0.00 | - |
Q4 2025 | ACN Accenture plc | Accenture plc | Sell | -579,052 | -23.5% | $505.13M | 1,882,707 |
Q4 2025 | ACWI iShares MSCI ACWI ETF | iShares MSCI ACWI ETF | Buy | +419,684 | +220.4% | $86.33M | 610,133 |
Q4 2025 | ACWX iShares MSCI ACWI ex U.S. ETF | iShares MSCI ACWI ex U.S. ETF | Buy | +65,149 | +105.7% | $8.51M | 126,761 |
Q4 2025 | ADBE Adobe Inc. | Adobe Inc. | Sell | -511,610 | -27.5% | $470.94M | 1,345,588 |
Q4 2025 | ADP Automatic Data Processing, Inc. | Automatic Data Processing, Inc. | Sell | -485 | -19.7% | $508.39K | 1,976 |
Q4 2025 | ADPT Adaptive Biotechnologies Corpor | Adaptive Biotechnologies Corpor | Buy | +34,570 | +11.9% | $5.29M | 325,767 |
Q4 2025 | ADSK Autodesk, Inc. | Autodesk, Inc. | Sell | -120 | -9.2% | $349.79K | 1,182 |
Q4 2025 | ADT ADT Inc. | ADT Inc. | Sell | -28,769 | -36.8% | $398.40K | 49,368 |
Q4 2025 | AEHR Aehr Test Systems | Aehr Test Systems | Buy | +6,803 | +29.2% | $607.94K | 30,111 |
Q4 2025 | AFRM Affirm Holdings, Inc. | Affirm Holdings, Inc. | Sell | -127 | -0.4% | $2.45M | 32,969 |
Q4 2025 | AGX Argan, Inc. | Argan, Inc. | Sell | -12,647 | -33.7% | $7.80M | 24,886 |
Q4 2025 | ALNY Alnylam Pharmaceuticals, Inc. | Alnylam Pharmaceuticals, Inc. | Sell - Position Exit | -693 | -100.0% | $0.00 | - |
Q4 2025 | AMPX Amprius Technologies, Inc. | Amprius Technologies, Inc. | Sell | -51,137 | -15.1% | $2.27M | 288,290 |
Q4 2025 | AMSC American Superconductor Corpora | American Superconductor Corpora | Sell | -23,726 | -50.2% | $678.20K | 23,565 |
Q4 2025 | AMZN Amazon.com, Inc. | Amazon.com, Inc. | Sell | -2,592,807 | -23.1% | $2.00B | 8,653,721 |
Q4 2025 | AON Aon Plc | Aon Plc | Sell | -643,873 | -25.9% | $651.52M | 1,846,294 |
Q4 2025 | AORT Artivion, Inc. | Artivion, Inc. | Buy - Position Entry | +25,259 | - | $1.15M | 25,259 |
Q4 2025 | APEI American Public Education, Inc. | American Public Education, Inc. | Buy - Position Entry | +14,117 | - | $533.62K | 14,117 |
Q4 2025 | APPF AppFolio, Inc. | AppFolio, Inc. | Sell - Position Exit | -753 | -100.0% | $0.00 | - |
Q4 2025 | APPN Appian Corporation | Appian Corporation | Buy - Position Entry | +10,366 | - | $367.16K | 10,366 |
Q4 2025 | ARLO Arlo Technologies, Inc. | Arlo Technologies, Inc. | Sell - Position Exit | -60,486 | -100.0% | $0.00 | - |
Q4 2025 | ASML ASML | ASML | Sell | -8,602 | -43.5% | $11.98M | 11,195 |
Q4 2025 | ASND Ascendis Pharma A/S | Ascendis Pharma A/S | Sell | -1,555 | -56.2% | $258.23K | 1,211 |
Q4 2025 | ASPI ASP Isotopes Inc. | ASP Isotopes Inc. | Sell | -93,402 | -40.1% | $746.38K | 139,511 |
Q4 2025 | ASTE Astec Industries, Inc. | Astec Industries, Inc. | Buy | +4,236 | +23.4% | $967.94K | 22,344 |