POLEN CAPITAL MANAGEMENT LLC

New 13F: Q3 2026

POLEN CAPITAL MANAGEMENT LLC filed its 13F for the quarter ended Sep 30, 2026 on Nov 13, 2026: $5.5B in AI and semiconductor stocks; $582.0M bought and $1.6B sold against its previous quarter, at the quarter's prices.

POLEN CAPITAL MANAGEMENT LLC declares $6.1B in 50 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 52.9% of its $11.6B 13F portfolio. Largest positions: NVIDIA (0.02% of the company) and Microsoft (0.03% of the company). Over time: $6.1B in 50 of these companies for Q2 2026, against $10.7B in 9 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $506.6M and sold $2.2B of these stocks, at the quarter's prices: a net sale of $1.6B; 14 new positions and 4 sold out.

Performance of its AI picks

The AI-stock portfolio POLEN CAPITAL MANAGEMENT LLC declared for Q2 2026 (Form 13F), held unchanged, returned +6.4% in Q3 2026 (SMH -7.1%), ranked 396 of 1,785 active managers. Over the last 12 months, quarter after quarter: -5.1% (SMH +87.2%), ranked 1355 of 1,360 active managers. Over three years, quarter after quarter: +51.4% (SMH +325.8%), ranked 780 of 784 active managers. Over five years, quarter after quarter: +28.5% (SMH +389.8%), ranked 531 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

  1. NVIDIA (NVDA): $796.0M, 4.0M shares, 0.02% of the company, 6.9% of its portfolio (trimmed this quarter); held since Q2 2025
  2. Microsoft (MSFT): $782.8M, 2.1M shares, 0.03% of the company, 6.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  3. Alphabet (GOOGL): $775.0M, 2.2M shares, 0.02% of the company, 6.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  4. Broadcom (AVGO): $740.5M, 2.0M shares, 0.04% of the company, 6.4% of its portfolio (trimmed this quarter); held since Q3 2025
  5. Amazon (AMZN): $669.7M, 2.8M shares, 0.03% of the company, 5.8% of its portfolio (trimmed this quarter); held since Q1 2021
  6. ServiceNow (NOW): $533.2M, 5.4M shares, 0.52% of the company, 4.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  7. Oracle (ORCL): $523.8M, 3.6M shares, 0.12% of the company, 4.5% of its portfolio (trimmed this quarter); held since Q3 2024
  8. Lam Research (LRCX): $372.2M, 859,036 shares, 0.07% of the company, 3.2% of its portfolio (trimmed this quarter); held since Q1 2026
  9. TSMC (TSM): $239.4M, 501,210 shares, 0.01% of the company, 2.1% of its portfolio (added this quarter); held since Q3 2025
  10. GE Vernova (GEV): $231.0M, 196,612 shares, 0.07% of the company, 2.0% of its portfolio (new position this quarter)
  11. Meta Platforms (META): $185.6M, 329,573 shares, 0.01% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q1 2026
  12. EMCOR (EME): $85.6M, 103,123 shares, 0.24% of the company, 0.74% of its portfolio (new position this quarter)
  13. ASML (ASML): $30.7M, 15,427 shares, 0.00% of the company, 0.26% of its portfolio (trimmed this quarter); held since Q2 2021
  14. Accenture (ACN): $19.0M, 152,800 shares, 0.03% of the company, 0.16% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  15. Synopsys (SNPS): $18.4M, 41,267 shares, 0.02% of the company, 0.16% of its portfolio (trimmed this quarter); held since Q3 2025

By sector

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