David M. Polen - Polen Capital Management 13F Activity & Position Changes (Q1 2026)

As of Mar 31, 2026, the Polen Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 14, 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 Q1 2026, the filing reported:

New Buys - Alcoa Corporation, Applied Optoelectronics, Inc., ADTRAN Holdings, Inc., AAR Corp., ANI Pharmaceuticals, Inc., and 57 more

Increases - Aehr Test Systems, Amprius Technologies, Inc., American Public Education, Inc., ASML, Ascendis Pharma A/S, and 61 more

Reductions - Apple Inc., Airbnb, Inc., Abbott Laboratories, Accenture plc, iShares MSCI ACWI ETF, and 76 more

Complete Exits - AbCellera Biologics Inc., Automatic Data Processing, Inc., Autodesk, Inc., ADT Inc., American Superconductor Corpora, and 72 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
Q1 2026	AA Alcoa Corporation	Alcoa Corporation	Buy - Position Entry	+4,975	-	$329.99K	4,975
Q1 2026	AAOI Applied Optoelectronics, Inc.	Applied Optoelectronics, Inc.	Buy - Position Entry	+14,913	-	$1.26M	14,913
Q1 2026	AAPL Apple Inc.	Apple Inc.	Sell	-3,672	-47.5%	$1.03M	4,052
Q1 2026	ABCL AbCellera Biologics Inc.	AbCellera Biologics Inc.	Sell - Position Exit	-102,508	-100.0%	$0.00	-
Q1 2026	ABNB Airbnb, Inc.	Airbnb, Inc.	Sell	-756,983	-25.0%	$287.13M	2,273,747
Q1 2026	ABT Abbott Laboratories	Abbott Laboratories	Sell	-3,947,149	-99.6%	$1.55M	15,081
Q1 2026	ACN Accenture plc	Accenture plc	Sell	-527,959	-28.0%	$268.63M	1,354,748
Q1 2026	ACWI iShares MSCI ACWI ETF	iShares MSCI ACWI ETF	Sell	-303,718	-49.8%	$42.40M	306,415
Q1 2026	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Sell	-101,085	-79.7%	$1.76M	25,676
Q1 2026	ADBE Adobe Inc.	Adobe Inc.	Sell	-1,333,720	-99.1%	$2.88M	11,868
Q1 2026	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell - Position Exit	-1,976	-100.0%	$0.00	-
Q1 2026	ADPT Adaptive Biotechnologies Corpor	Adaptive Biotechnologies Corpor	Sell	-209,716	-64.4%	$1.61M	116,051
Q1 2026	ADSK Autodesk, Inc.	Autodesk, Inc.	Sell - Position Exit	-1,182	-100.0%	$0.00	-
Q1 2026	ADT ADT Inc.	ADT Inc.	Sell - Position Exit	-49,368	-100.0%	$0.00	-
Q1 2026	ADTN ADTRAN Holdings, Inc.	ADTRAN Holdings, Inc.	Buy - Position Entry	+75,688	-	$952.15K	75,688
Q1 2026	AEHR Aehr Test Systems	Aehr Test Systems	Buy	+49,285	+163.7%	$2.94M	79,396
Q1 2026	AFRM Affirm Holdings, Inc.	Affirm Holdings, Inc.	Sell	-28,206	-85.6%	$218.24K	4,763
Q1 2026	AGX Argan, Inc.	Argan, Inc.	Sell	-6,905	-27.7%	$9.79M	17,981
Q1 2026	AIR AAR Corp.	AAR Corp.	Buy - Position Entry	+16,208	-	$1.77M	16,208
Q1 2026	AMPX Amprius Technologies, Inc.	Amprius Technologies, Inc.	Buy	+133,855	+46.4%	$7.12M	422,145
Q1 2026	AMSC American Superconductor Corpora	American Superconductor Corpora	Sell - Position Exit	-23,565	-100.0%	$0.00	-
Q1 2026	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-4,756,982	-55.0%	$811.57M	3,896,739
Q1 2026	ANIP ANI Pharmaceuticals, Inc.	ANI Pharmaceuticals, Inc.	Buy - Position Entry	+6,409	-	$492.85K	6,409
Q1 2026	ANNX Annexon, Inc.	Annexon, Inc.	Buy - Position Entry	+70,152	-	$388.64K	70,152
Q1 2026	ANRO Alto Neuroscience, Inc.	Alto Neuroscience, Inc.	Buy - Position Entry	+16,613	-	$373.46K	16,613
Q1 2026	AON Aon Plc	Aon Plc	Sell	-492,241	-26.7%	$437.06M	1,354,053
Q1 2026	AORT Artivion, Inc.	Artivion, Inc.	Sell - Position Exit	-25,259	-100.0%	$0.00	-
Q1 2026	APEI American Public Education, Inc.	American Public Education, Inc.	Buy	+5	+0.0%	$803.26K	14,122
Q1 2026	APPN Appian Corporation	Appian Corporation	Sell - Position Exit	-10,366	-100.0%	$0.00	-
Q1 2026	ARLO Arlo Technologies, Inc.	Arlo Technologies, Inc.	Buy - Position Entry	+58,674	-	$834.93K	58,674

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