Polen Capital
Polen Capital International Equity Strategy
Jun 2026 → Jun 2026
Our archive holds 1 letter from this strategy, behind 4 investment theses and positions in 14 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year — follow all of Polen Capital for every strategy.
What it bought and sold
During the quarter, we initiated positions in ASPEED Technology, Ryohin Keikaku, Mitsubishi UFJ Financial Group, Tokio Marine Holdings, AstraZeneca, Nokia, Rentokil, RWE AG, and Technoprobe, while exiting positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
During the quarter, we initiated positions in ASPEED Technology, Ryohin Keikaku, Mitsubishi UFJ Financial Group, Tokio Marine Holdings, AstraZeneca, Nokia, Rentokil, RWE AG, and Technoprobe, while exiting positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
- New positionMitsubishi UFJ Financial GroupJun 2026
During the quarter, we initiated positions in ASPEED Technology, Ryohin Keikaku, Mitsubishi UFJ Financial Group, Tokio Marine Holdings, AstraZeneca, Nokia, Rentokil, RWE AG, and Technoprobe, while exiting positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
- New positionRyohin KeikakuJun 2026
During the quarter, we initiated positions in ASPEED Technology, Ryohin Keikaku, Mitsubishi UFJ Financial Group, Tokio Marine Holdings, AstraZeneca, Nokia, Rentokil, RWE AG, and Technoprobe, while exiting positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
- ExitedTohoJun 2026
We exited the position because the next earnings inflection point was outside our investment time frame, and we identified more attractive opportunities elsewhere.
During the quarter, we initiated positions in ASPEED Technology, Ryohin Keikaku, Mitsubishi UFJ Financial Group, Tokio Marine Holdings, AstraZeneca, Nokia, Rentokil, RWE AG, and Technoprobe, while exiting positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
- ExitedAvivaJun 2026
We exited positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
We exited positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
- New positionTechnoprobeJun 2026
During the quarter, we initiated positions in ASPEED Technology, Ryohin Keikaku, Mitsubishi UFJ Financial Group, Tokio Marine Holdings, AstraZeneca, Nokia, Rentokil, RWE AG, and Technoprobe, while exiting positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
We exited positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
During the quarter, we initiated positions in ASPEED Technology, Ryohin Keikaku, Mitsubishi UFJ Financial Group, Tokio Marine Holdings, AstraZeneca, Nokia, Rentokil, RWE AG, and Technoprobe, while exiting positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
During the quarter, we initiated positions in ASPEED Technology, Ryohin Keikaku, Mitsubishi UFJ Financial Group, Tokio Marine Holdings, AstraZeneca, Nokia, Rentokil, RWE AG, and Technoprobe, while exiting positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
- New positionTokio Marine HoldingsJun 2026
During the quarter, we initiated positions in ASPEED Technology, Ryohin Keikaku, Mitsubishi UFJ Financial Group, Tokio Marine Holdings, AstraZeneca, Nokia, Rentokil, RWE AG, and Technoprobe, while exiting positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
We exited positions in Toho, Aviva, Celestica, LifeCo, and Rheinmetall.
Also held
Its investment theses
- SK hynixJun 2026SK hynix is held as a NAND and DRAM memory manufacturer benefiting from AI-driven demand running ahead of supply and strong pricing power.
- Samsung ElectronicsJun 2026Samsung Electronics is held as a NAND and DRAM memory manufacturer benefiting from AI-driven demand, tight supply, and stronger pricing.
- Kioxia HoldingsJun 2026Kioxia Holdings is held as a NAND and DRAM memory manufacturer benefiting from AI-related demand outpacing supply and aggressive price increases.
- Taiwan Semiconductor Manufacturing CompanyJun 2026Taiwan Semiconductor Manufacturing Company is benefiting from AI demand running ahead of capacity, supporting pricing power and margin expansion.