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 2025Jun 30, 2025	PNTG The Pennant Group, Inc.	The Pennant Group, Inc.	Buy - Position Entry	+10,960	$327.16K	10,960
Q2 2025Jun 30, 2025	ASTE Astec Industries, Inc.	Astec Industries, Inc.	Buy - Position Entry	+10,956	$456.76K	10,956
Q2 2025Jun 30, 2025	HURN Huron Consulting Group Inc.	Huron Consulting Group Inc.	Buy - Position Entry	+10,568	$1.45M	10,568
Q2 2025Jun 30, 2025	GH Guardant Health, Inc.	Guardant Health, Inc.	Buy - Position Entry	+10,183	$529.92K	10,183
Q2 2025Jun 30, 2025	SHAK Shake Shack, Inc.	Shake Shack, Inc.	Buy - Position Entry	+9,632	$1.35M	9,632
Q2 2025Jun 30, 2025	CRS Carpenter Technology Corporatio	Carpenter Technology Corporatio	Buy - Position Entry	+9,475	$2.62M	9,475
Q2 2025Jun 30, 2025	LRN Stride, Inc.	Stride, Inc.	Buy - Position Entry	+9,420	$1.37M	9,420
Q2 2025Jun 30, 2025	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+9,109+1.5%	$109.27M	620,019
Q2 2025Jun 30, 2025	NTNX Nutanix, Inc.	Nutanix, Inc.	Buy - Position Entry	+9,011	$688.80K	9,011
Q2 2025Jun 30, 2025	ITRI Itron, Inc.	Itron, Inc.	Buy - Position Entry	+8,703	$1.15M	8,703
Q2 2025Jun 30, 2025	HQY HealthEquity, Inc.	HealthEquity, Inc.	Buy - Position Entry	+8,243	$863.54K	8,243
Q2 2025Jun 30, 2025	XMTR Xometry, Inc.	Xometry, Inc.	Buy - Position Entry	+7,702	$260.25K	7,702
Q2 2025Jun 30, 2025	TEM Tempus AI, Inc.	Tempus AI, Inc.	Buy - Position Entry	+6,759	$429.47K	6,759
Q2 2025Jun 30, 2025	TSLA Tesla, Inc.	Tesla, Inc.	Buy - Position Entry	+6,722	$2.14M	6,722
Q2 2025Jun 30, 2025	NRG NRG Energy, Inc.	NRG Energy, Inc.	Buy - Position Entry	+6,132	$984.68K	6,132
Q2 2025Jun 30, 2025	SFM Sprouts Farmers Market, Inc.	Sprouts Farmers Market, Inc.	Buy - Position Entry	+6,068	$999.04K	6,068
Q2 2025Jun 30, 2025	VST Vistra Corp.	Vistra Corp.	Buy - Position Entry	+5,973	$1.16M	5,973
Q2 2025Jun 30, 2025	DOCS Doximity, Inc.	Doximity, Inc.	Buy - Position Entry	+5,915	$362.83K	5,915
Q2 2025Jun 30, 2025	PLNT Planet Fitness, Inc.	Planet Fitness, Inc.	Buy - Position Entry	+5,842	$637.07K	5,842
Q2 2025Jun 30, 2025	MRUS Merus	Merus	Buy - Position Entry	+5,834	$306.87K	5,834
Q2 2025Jun 30, 2025	TLN Talen Energy	Talen Energy	Buy - Position Entry	+5,826	$1.69M	5,826
Q2 2025Jun 30, 2025	PLPC Preformed Line Products Company	Preformed Line Products Company	Buy - Position Entry	+5,652	$903.25K	5,652
Q2 2025Jun 30, 2025	INTA Intapp, Inc.	Intapp, Inc.	Buy - Position Entry	+5,595	$288.81K	5,595
Q2 2025Jun 30, 2025	WAL Western Alliance Bancorporation	Western Alliance Bancorporation	Buy - Position Entry	+5,483	$427.56K	5,483
Q2 2025Jun 30, 2025	WLFC Willis Lease Finance Corporatio	Willis Lease Finance Corporatio	Buy - Position Entry	+5,277	$753.45K	5,277
Q2 2025Jun 30, 2025	ALSN Allison Transmission Holdings,	Allison Transmission Holdings,	Buy - Position Entry	+4,389	$416.91K	4,389
Q2 2025Jun 30, 2025	KRUS Kura Sushi USA, Inc.	Kura Sushi USA, Inc.	Buy - Position Entry	+4,379	$376.94K	4,379
Q2 2025Jun 30, 2025	CEG Constellation Energy Corporatio	Constellation Energy Corporatio	Buy - Position Entry	+4,010	$1.29M	4,010
Q2 2025Jun 30, 2025	STRL Sterling Infrastructure, Inc.	Sterling Infrastructure, Inc.	Buy - Position Entry	+3,569	$823.48K	3,569
Q2 2025Jun 30, 2025	TTAN ServiceTitan	ServiceTitan	Buy - Position Entry	+3,461	$370.95K	3,461

Page 5 of 105 • 3150 total trades

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