Polen Capital
Polen Global Growth
Global Mega-cap Growth
Dec 2024 → Mar 2026
Our archive holds 7 letters from this strategy, behind 11 investment theses and positions in 11 companies. Every quote below is copied verbatim from the letter it came from.
7 letters in 3 years — follow all of Polen Capital for every strategy.
Its investment theses
- ASMLMar 2026ASML is a monopolistic lithography equipment leader with major barriers to entry, semiconductor tailwinds, and high-teens earnings growth potential.
- Meta PlatformsMar 2026Meta Platforms is a global advertising platform with AI monetization, massive user reach, and attractive valuation-driven growth potential.
- CoStar GroupMar 2026CoStar Group is a deeply embedded information platform with domain expertise, AI resilience, and margin expansion potential.
- Tokyo ElectronMar 2026Tokyo Electron is a leading semiconductor equipment vendor with scale advantages, strong customer ties, and mid-teens return potential.
- Siemens EnergyMar 2026Siemens Energy is a power infrastructure company with oligopolistic segments, secular tailwinds, and mid-teens earnings growth potential.
- TSMCMar 2026TSMC is the dominant semiconductor foundry with pricing power, AI-driven demand, and high-teens earnings growth potential.
- Spotify Technology S.A.Dec 2025Spotify Technology S.A. is a scaled two-sided streaming platform with secular tailwinds, under-monetized music, and multiple levers to drive over 20% annual free cash flow growth.
- StarbucksJun 2025Starbucks is poised for substantial growth under new CEO Brian Niccol, whose practical turnaround plan aims to simplify operations and enhance customer experience across its stores.
- IDEXX LabsJun 2025Backed by dominant market share and recurring revenues, IDEXX Labs offers long-term growth potential in pet diagnostics with defensive traits and renewed valuation appeal as pandemic-era pet care demand begins to normalize.
- MercadoLibreMar 2025MercadoLibre is a leading eCommerce and digital payments provider in Latin America with a strong business model and significant growth potential.