Polen Capital
Polen Global Growth
Global Mega-cap Growth
Dec 2024 → Sep 2026
Our archive holds 9 letters from this strategy, behind 21 investment theses and positions in 35 companies. Every quote below is copied verbatim from the letter it came from.
9 letters in 3 years · follow all of Polen Capital for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD
- YTD−5.5%index +13.0%
- 1Y−8.1%index +16.8%
- 3Y · /yr+6.2%index +21.7%
- 5Y · /yr+0.7%index +11.6%
- 10Y · /yr+9.5%index +12.4%
- Inception · /yr+9.2%index +10.8%
Index: MSCI ACWI
| YTD | 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|---|
| Polen Global Growth | −5.5% | −8.1% | +6.2% | +0.7% | +9.5% | +9.2% |
| MSCI ACWI | +13.0% | +16.8% | +21.7% | +11.6% | +12.4% | +10.8% |
Since inception: Inception (1-1-2015)
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
In Q3 2026, we initiated new positions in Seagate Technology , Advanced Micro Devices , Quanta Services , and SK Hynix , while selling Oracle .
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
In Q3 2026, we initiated new positions in Seagate Technology , Advanced Micro Devices , Quanta Services , and SK Hynix , while selling Oracle .
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
In Q3 2026, we initiated new positions in Seagate Technology , Advanced Micro Devices , Quanta Services , and SK Hynix , while selling Oracle .
In Q3 2026, we initiated new positions in Seagate Technology , Advanced Micro Devices , Quanta Services , and SK Hynix , while selling Oracle .
During the quarter, we exited our position in Oracle.
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
We also added to our existing positions in Meta Platforms and Keyence , while trimming NVIDIA , Broadcom , Shopify , ServiceNow , Tencent , Aon , Adyen and Tokyo Electron .
We initiated a new position in GE Aerospace, which we view as one of the highest-quality industrial businesses in the world.
We initiated a new position in Rheinmetall, Germany's largest defense contractor and one of the leading suppliers of military vehicles, weapons, and ammunition in Europe.
We initiated a new position in Howmet Aerospace, a critical supplier of highly engineered components for commercial aerospace engines.
During the period we also added to our positions in ASML and Idexx Labs and trimmed our positions in Starbucks, Oracle, Shopify, Aon and Broadcom.
During the period we also added to our positions in ASML and Idexx Labs and trimmed our positions in Starbucks, Oracle, Shopify, Aon and Broadcom.
We initiated a new position in GE Vernova, one of the few global companies capable of supplying the power generation equipment needed to meet rising electricity demand.
During the period we also added to our positions in ASML and Idexx Labs and trimmed our positions in Starbucks, Oracle, Shopify, Aon and Broadcom.
On the other hand, we sold our position in Boston Scientific.
During the period we also added to our positions in ASML and Idexx Labs and trimmed our positions in Starbucks, Oracle, Shopify, Aon and Broadcom.
Also held
Its investment theses
- Tokyo ElectronSep 2026Tokyo Electron is a dominant semiconductor equipment supplier with leading positions and strong demand exposure to advanced logic, DRAM, and AI.
- Advanced Micro DevicesSep 2026Advanced Micro Devices has a large opportunity in AI and server compute thanks to share gains in CPUs, growing GPU adoption, and a large addressable market.
- SK HynixSep 2026SK Hynix is the HBM leader with strong AI-driven pricing power, supply tightness, and potential for more durable earnings and valuation support.
- Tokyo ElectronJun 2026Tokyo Electron is a leading semiconductor equipment supplier positioned to benefit from AI-driven investment cycles and strong customer relationships.
- GE VernovaJun 2026GE Vernova supplies critical power generation equipment and has a long demand runway from electrification, AI infrastructure, and grid modernization.
- Howmet AerospaceJun 2026Howmet Aerospace is a mission-critical aerospace components supplier with scarce competitive positioning and upside from production and aftermarket demand.
- Hermès InternationalJun 2026Hermès is a highly exclusive luxury brand with pricing power, a wide moat, and a long runway for compounding growth.
- KeyenceJun 2026Keyence is a leading industrial automation company with strong technology leadership, recovering end markets, and long-term earnings compounding potential.
- RheinmetallJun 2026Rheinmetall is a leading European defense contractor positioned to benefit from rising defense spending and a growing order backlog.
- Siemens HealthineersJun 2026Siemens Healthineers is a high-quality healthcare franchise with leading positions, but near-term growth was seen as more modest.