David M. Polen - Polen Capital Management 13F Activity & Position Changes (Q4 2020)

As of Dec 31, 2020, the Polen Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 11, 2021. 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 2020, the filing reported:

New Buys - iShares MSCI ACWI ETF, iShares MSCI ACWI ex U.S. ETF, CDW Corporation, Copart, Inc., Endava plc, and 5 more

Increases - Abbott Laboratories, Accenture plc, Adobe Inc., Autodesk, Inc., Align Technology, Inc., and 52 more

Reductions - Automatic Data Processing, Inc., Estee Lauder Companies, Inc. (T, Oracle Corporation

Complete Exits - Blackbaud, Inc., Masimo Corporation, Pool Corporation, RELX PLC PLC

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 2020	ABT Abbott Laboratories	Abbott Laboratories	Buy	+1,087,508	+5.6%	$2.24M	20,492,206
Q4 2020	ACN Accenture plc	Accenture plc	Buy	+183,233	+2.4%	$2.03M	7,784,316
Q4 2020	ACWI iShares MSCI ACWI ETF	iShares MSCI ACWI ETF	Buy - Position Entry	+11,658	-	$1.06K	11,658
Q4 2020	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Buy - Position Entry	+67,261	-	$3.57K	67,261
Q4 2020	ADBE Adobe Inc.	Adobe Inc.	Buy	+176,015	+3.1%	$2.95M	5,900,921
Q4 2020	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-25,416	-6.1%	$68.68K	389,776
Q4 2020	ADSK Autodesk, Inc.	Autodesk, Inc.	Buy	+86,809	+1.4%	$1.95M	6,402,047
Q4 2020	ALGN Align Technology, Inc.	Align Technology, Inc.	Buy	+1,503	+0.1%	$1.39M	2,599,314
Q4 2020	ALRM Alarm.com Holdings, Inc.	Alarm.com Holdings, Inc.	Buy	+21,655	+23.4%	$11.82K	114,284
Q4 2020	ALTR Altair Engineering Inc.	Altair Engineering Inc.	Buy	+18,650	+29.2%	$4.80K	82,459
Q4 2020	AMN AMN Healthcare Services Inc	AMN Healthcare Services Inc	Buy	+17,768	+29.2%	$5.37K	78,615
Q4 2020	AON Aon Plc	Aon Plc	Buy	+49,548	+15.1%	$79.71K	377,305
Q4 2020	APPF AppFolio, Inc.	AppFolio, Inc.	Buy	+12,072	+23.6%	$11.39K	63,271
Q4 2020	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Buy	+254,552	+26.5%	$282.86K	1,215,380
Q4 2020	BL BlackLine, Inc.	BlackLine, Inc.	Buy	+19,062	+29.4%	$11.19K	83,910
Q4 2020	BLKB Blackbaud, Inc.	Blackbaud, Inc.	Sell - Position Exit	-52,431	-100.0%	$0.00	-
Q4 2020	CDW CDW Corporation	CDW Corporation	Buy - Position Entry	+14,518	-	$1.91K	14,518
Q4 2020	CHKP Check Point	Check Point	Buy	+43,430	+14.7%	$44.98K	338,437
Q4 2020	CPRT Copart, Inc.	Copart, Inc.	Buy - Position Entry	+16,458	-	$2.09K	16,458
Q4 2020	CRM Salesforce, Inc.	Salesforce, Inc.	Buy	+285,441	+4.2%	$1.57M	7,042,522
Q4 2020	DAVA Endava plc	Endava plc	Buy - Position Entry	+86,376	-	$6.63K	86,376
Q4 2020	DG Dollar General Corporation	Dollar General Corporation	Buy	+144,538	+2.6%	$1.22M	5,796,091
Q4 2020	DT Dynatrace, Inc.	Dynatrace, Inc.	Buy - Position Entry	+69,407	-	$3.00K	69,407
Q4 2020	EEFT Euronet Worldwide, Inc.	Euronet Worldwide, Inc.	Buy	+8,747	+20.6%	$7.42K	51,179
Q4 2020	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Sell	-6,068	-3.6%	$43.29K	162,612
Q4 2020	ENV Envestnet, Inc	Envestnet, Inc	Buy	+12,111	+21.7%	$5.59K	67,983
Q4 2020	ETSY Etsy, Inc.	Etsy, Inc.	Buy	+4,938	+7.1%	$13.20K	74,205
Q4 2020	EXPO Exponent, Inc.	Exponent, Inc.	Buy	+20,980	+24.6%	$9.56K	106,191
Q4 2020	FND Floor & Decor Holdings, Inc.	Floor & Decor Holdings, Inc.	Buy	+21,618	+29.3%	$8.87K	95,497
Q4 2020	FOXF Fox Factory Holding Corp.	Fox Factory Holding Corp.	Buy	+19,056	+24.0%	$10.40K	98,363

Page 1 of 3