David M. Polen – Polen Capital Management Portfolio Activity & Recent Trades (Jun 30, 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 – IDEXX Laboratories, Inc. (IDXX), ICICI Bank Limited (IBN), The Real Brokerage, Inc. (REAX), Joby Aviation (G65163100), Peloton Interactive, Inc. (PTON), and 146 more

Increases – Starbucks Corporation (SBUX), Adobe Inc. (ADBE), CoStar Group, Inc. (CSGP), ON Holding (ONON), ServiceNow, Inc. (NOW), and 4 more

Reductions – NetEase, Inc. (NTES), PayPal Holdings, Inc. (PYPL), Autodesk, Inc. (ADSK), Ollie's Bargain Outlet Holdings (OLLI), Vanguard Growth ETF (VUG), and 75 more

Complete Exits – Comfort Systems USA, Inc. (FIX), Wingstop Inc. (WING), iShares Russell 2000 Growth ETF (IWO), Manhattan Associates, Inc. (MANH), Saia, Inc. (SAIA), and 22 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Polen Capital Management Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q2 2015Jun 30, 2015	ADBE Adobe Inc.	Adobe Inc.	Sell	-16,230-1.2%	$109.68K	1,353,951
Q2 2015Jun 30, 2015	ORLY O'Reilly Automotive, Inc.	O'Reilly Automotive, Inc.	Sell	-19,737-2.2%	$200.86K	888,847
Q2 2015Jun 30, 2015	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-26,259-2.1%	$113.07K	1,209,593
Q2 2015Jun 30, 2015	AAPL Apple Inc.	Apple Inc.	Sell	-46,068-2.2%	$257.47K	2,052,716
Q2 2015Jun 30, 2015	IT Gartner, Inc.	Gartner, Inc.	Sell	-46,321-2.1%	$186.83K	2,177,985
Q2 2015Jun 30, 2015	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-48,978-2.1%	$184.52K	2,299,849
Q2 2015Jun 30, 2015	IWF iShares Russell 1000 Growth ETF	iShares Russell 1000 Growth ETF	Sell	-50,902-82.9%	$1.04K	10,484
Q2 2015Jun 30, 2015	ACN Accenture plc	Accenture plc	Sell	-60,167-2.2%	$253.99K	2,624,413
Q2 2015Jun 30, 2015	NSRGY Nestle S.A.	Nestle S.A.	Sell	-66,247-2.6%	$181.59K	2,516,539
Q2 2015Jun 30, 2015	NKE Nike, Inc.	Nike, Inc.	Sell	-76,600-2.2%	$365.59K	3,384,469
Q2 2015Jun 30, 2015	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Sell	-81,689-2.0%	$260.22K	3,932,657
Q2 2015Jun 30, 2015	FAST Fastenal Company	Fastenal Company	Sell	-105,023-2.1%	$210.93K	5,000,617
Q2 2015Jun 30, 2015	V Visa Inc.	Visa Inc.	Sell	-129,676-2.2%	$384.56K	5,726,917
Q2 2015Jun 30, 2015	ABT Abbott Laboratories	Abbott Laboratories	Sell	-155,681-2.2%	$343.48K	6,998,285
Q2 2015Jun 30, 2015	ORCL Oracle Corporation	Oracle Corporation	Sell	-161,718-2.3%	$281.40K	6,982,677
Q2 2015Jun 30, 2015	FDS FactSet Research Systems Inc.	FactSet Research Systems Inc.	Sell - Position Exit	-698,664-100.0%	$0.00	-
Q1 2015Mar 31, 2015	V Visa Inc.	Visa Inc.	Buy	+4,453,243+317.3%	$383.08K	5,856,593
Q1 2015Mar 31, 2015	FAST Fastenal Company	Fastenal Company	Buy	+2,393,551+88.3%	$211.58K	5,105,640
Q1 2015Mar 31, 2015	ADBE Adobe Inc.	Adobe Inc.	Buy - Position Entry	+1,370,181	$101.31K	1,370,181
Q1 2015Mar 31, 2015	ABT Abbott Laboratories	Abbott Laboratories	Buy	+303,121+4.4%	$331.44K	7,153,966
Q1 2015Mar 31, 2015	ORCL Oracle Corporation	Oracle Corporation	Buy	+298,861+4.4%	$308.28K	7,144,395
Q1 2015Mar 31, 2015	NSRGY Nestle S.A.	Nestle S.A.	Buy	+220,807+9.3%	$194.28K	2,582,786
Q1 2015Mar 31, 2015	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Buy	+183,894+4.8%	$281.20K	4,014,346
Q1 2015Mar 31, 2015	SBUX Starbucks Corporation	Starbucks Corporation	Buy	+181,090+6.0%	$304.48K	3,215,212
Q1 2015Mar 31, 2015	NKE Nike, Inc.	Nike, Inc.	Buy	+143,945+4.3%	$347.25K	3,461,069
Q1 2015Mar 31, 2015	ACN Accenture plc	Accenture plc	Buy	+109,185+4.2%	$251.52K	2,684,580
Q1 2015Mar 31, 2015	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+101,544+4.5%	$201.15K	2,348,827
Q1 2015Mar 31, 2015	IT Gartner, Inc.	Gartner, Inc.	Buy	+90,534+4.2%	$186.51K	2,224,306
Q1 2015Mar 31, 2015	AAPL Apple Inc.	Apple Inc.	Buy	+82,186+4.1%	$261.15K	2,098,784
Q1 2015Mar 31, 2015	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+57,306+4.9%	$106.77K	1,235,852

Page 100 of 105 • 3150 total trades

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