David M. Polen - Polen Capital Management 13F Activity & Position Changes (Q2 2025)

As of Jun 30, 2025, the Polen Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 13, 2025. 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 Q2 2025, the filing reported:

New Buys - Archer Aviation Inc., ADMA Biologics Inc, Adaptive Biotechnologies Corpor, ADT Inc., Aehr Test Systems, and 146 more

Increases - Adobe Inc., CoStar Group, Inc., Alphabet Inc., Monday.com, ServiceNow, Inc., and 4 more

Reductions - AAON, Inc., Apple Inc., Airbnb, Inc., Abbott Laboratories, Accenture plc, and 75 more

Complete Exits - AMN Healthcare Services Inc, SPDR Bloomberg 1-3 Month T-Bill, TopBuild Corp., Bentley Systems, Incorporated, Bowman Consulting Group Ltd., and 22 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
Q2 2025	AAON AAON, Inc.	AAON, Inc.	Sell	-46,263	-93.5%	$236.22K	3,203
Q2 2025	AAPL Apple Inc.	Apple Inc.	Sell	-2,672,588	-99.7%	$1.75M	8,526
Q2 2025	ABNB Airbnb, Inc.	Airbnb, Inc.	Sell	-372,376	-4.8%	$973.26M	7,354,228
Q2 2025	ABT Abbott Laboratories	Abbott Laboratories	Sell	-716,079	-6.3%	$1.45B	10,669,498
Q2 2025	ACHR Archer Aviation Inc.	Archer Aviation Inc.	Buy - Position Entry	+194,666	-	$2.11M	194,666
Q2 2025	ACN Accenture plc	Accenture plc	Sell	-261,320	-8.1%	$880.88M	2,947,158
Q2 2025	ACWI iShares MSCI ACWI ETF	iShares MSCI ACWI ETF	Sell	-296,237	-77.0%	$11.39M	88,558
Q2 2025	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Sell	-36,686	-62.4%	$1.35M	22,082
Q2 2025	ADBE Adobe Inc.	Adobe Inc.	Buy	+538,156	+19.1%	$1.30B	3,356,781
Q2 2025	ADMA ADMA Biologics Inc	ADMA Biologics Inc	Buy - Position Entry	+30,412	-	$553.80K	30,412
Q2 2025	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-71,991	-43.2%	$29.15M	94,535
Q2 2025	ADPT Adaptive Biotechnologies Corpor	Adaptive Biotechnologies Corpor	Buy - Position Entry	+142,257	-	$1.66M	142,257
Q2 2025	ADSK Autodesk, Inc.	Autodesk, Inc.	Sell	-1,056	-43.0%	$433.18K	1,399
Q2 2025	ADT ADT Inc.	ADT Inc.	Buy - Position Entry	+72,926	-	$617.68K	72,926
Q2 2025	AEHR Aehr Test Systems	Aehr Test Systems	Buy - Position Entry	+21,000	-	$271.53K	21,000
Q2 2025	AFRM Affirm Holdings, Inc.	Affirm Holdings, Inc.	Buy - Position Entry	+30,027	-	$2.08M	30,027
Q2 2025	AGX Argan, Inc.	Argan, Inc.	Buy - Position Entry	+44,821	-	$9.88M	44,821
Q2 2025	AIT Applied Industrial Technologies	Applied Industrial Technologies	Sell	-19,595	-92.6%	$363.78K	1,565
Q2 2025	ALKT Alkami Technology, Inc.	Alkami Technology, Inc.	Buy - Position Entry	+18,915	-	$570.10K	18,915
Q2 2025	ALSN Allison Transmission Holdings,	Allison Transmission Holdings,	Buy - Position Entry	+4,389	-	$416.91K	4,389
Q2 2025	AMN AMN Healthcare Services Inc	AMN Healthcare Services Inc	Sell - Position Exit	-38,564	-100.0%	$0.00	-
Q2 2025	AMSC American Superconductor Corpora	American Superconductor Corpora	Buy - Position Entry	+47,221	-	$1.73M	47,221
Q2 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-3,825,555	-21.6%	$3.05B	13,921,840
Q2 2025	AON Aon Plc	Aon Plc	Sell	-262,092	-8.7%	$979.53M	2,745,627
Q2 2025	ARLO Arlo Technologies, Inc.	Arlo Technologies, Inc.	Buy - Position Entry	+49,190	-	$834.26K	49,190
Q2 2025	ASML ASML	ASML	Sell	-8,152	-15.5%	$35.68M	44,525
Q2 2025	ASND Ascendis Pharma A/S	Ascendis Pharma A/S	Buy - Position Entry	+2,719	-	$469.30K	2,719
Q2 2025	ASPI ASP Isotopes Inc.	ASP Isotopes Inc.	Buy - Position Entry	+175,138	-	$1.29M	175,138
Q2 2025	ASTE Astec Industries, Inc.	Astec Industries, Inc.	Buy - Position Entry	+10,956	-	$456.76K	10,956
Q2 2025	ATEC Alphatec Holdings, Inc.	Alphatec Holdings, Inc.	Buy - Position Entry	+34,192	-	$379.53K	34,192

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