David M. Polen - Polen Capital Management 13F Activity & Position Changes (Q4 2022)

As of Dec 31, 2022, the Polen Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 13, 2023. 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 2022, the filing reported:

New Buys - CCC Intelligent Solutions Holdi, Dlocal, Estee Lauder Companies, Inc. (T, FirstService Corporation, HDFC Bank Limited, and 5 more

Increases - iShares MSCI ACWI ETF, iShares MSCI ACWI ex U.S. ETF, Aspen Technology, Inc., Global X S&P 500 Catholic Value, Copart, Inc., and 13 more

Reductions - Airbnb, Inc., Abbott Laboratories, Accenture plc, Adobe Inc., Automatic Data Processing, Inc., and 56 more

Complete Exits - Intuitive Surgical, Inc., JPMorgan Ultra-Short Municipal

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 2022	ABNB Airbnb, Inc.	Airbnb, Inc.	Sell	-857,111	-6.8%	$1.01B	11,828,267
Q4 2022	ABT Abbott Laboratories	Abbott Laboratories	Sell	-1,070,770	-6.8%	$1.60B	14,618,742
Q4 2022	ACN Accenture plc	Accenture plc	Sell	-341,372	-5.9%	$1.46B	5,457,887
Q4 2022	ACWI iShares MSCI ACWI ETF	iShares MSCI ACWI ETF	Buy	+111,539	+33.7%	$37.57M	442,679
Q4 2022	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Buy	+319,729	+299.7%	$19.40M	426,424
Q4 2022	ADBE Adobe Inc.	Adobe Inc.	Sell	-660,748	-9.5%	$2.11B	6,270,216
Q4 2022	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-12,614	-2.3%	$127.81M	535,082
Q4 2022	ADSK Autodesk, Inc.	Autodesk, Inc.	Sell	-517,423	-6.1%	$1.48B	7,907,485
Q4 2022	ALGN Align Technology, Inc.	Align Technology, Inc.	Sell	-313,965	-15.8%	$353.06M	1,674,073
Q4 2022	ALRM Alarm.com Holdings, Inc.	Alarm.com Holdings, Inc.	Sell	-23,272	-13.3%	$7.48M	151,177
Q4 2022	ALTR Altair Engineering Inc.	Altair Engineering Inc.	Sell	-21,473	-15.8%	$5.21M	114,665
Q4 2022	AMN AMN Healthcare Services Inc	AMN Healthcare Services Inc	Sell	-34,618	-49.3%	$3.67M	35,647
Q4 2022	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-2,089,456	-5.6%	$2.95B	35,148,401
Q4 2022	AON Aon Plc	Aon Plc	Sell	-66,219	-6.2%	$299.65M	998,370
Q4 2022	APPF AppFolio, Inc.	AppFolio, Inc.	Sell	-10,270	-14.8%	$6.23M	59,086
Q4 2022	ASML ASML	ASML	Sell	-7,885	-10.3%	$37.56M	68,745
Q4 2022	AZPN Aspen Technology, Inc.	Aspen Technology, Inc.	Buy	+279	+3.4%	$1.76M	8,549
Q4 2022	AZTA Azenta, Inc.	Azenta, Inc.	Sell	-18,239	-15.3%	$5.88M	100,954
Q4 2022	BL BlackLine, Inc.	BlackLine, Inc.	Sell	-23,132	-15.8%	$8.28M	123,090
Q4 2022	BMBL Bumble Inc.	Bumble Inc.	Sell	-8,998	-2.8%	$6.54M	310,453
Q4 2022	CATH Global X S&P 500 Catholic Value	Global X S&P 500 Catholic Value	Buy	+114,872	+93.9%	$11.04M	237,214
Q4 2022	CCCS CCC Intelligent Solutions Holdi	CCC Intelligent Solutions Holdi	Buy - Position Entry	+208,827	-	$1.82M	208,827
Q4 2022	CPRT Copart, Inc.	Copart, Inc.	Buy	+19,563	+107.2%	$2.30M	37,814
Q4 2022	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Buy	+1,038	+22.3%	$1.24M	5,688
Q4 2022	CRM Salesforce, Inc.	Salesforce, Inc.	Sell	-577,251	-5.2%	$1.39B	10,480,436
Q4 2022	DAVA Endava plc	Endava plc	Sell	-14,619	-11.7%	$8.41M	109,978
Q4 2022	DLO Dlocal	Dlocal	Buy - Position Entry	+41,660	-	$648.65K	41,660
Q4 2022	DOCS Doximity, Inc.	Doximity, Inc.	Sell	-4,874	-2.3%	$6.95M	206,979
Q4 2022	DOCU DocuSign, Inc.	DocuSign, Inc.	Sell	-437,088	-5.1%	$455.00M	8,209,972
Q4 2022	DT Dynatrace, Inc.	Dynatrace, Inc.	Sell	-10,150	-6.6%	$5.48M	143,102

Page 1 of 4