Polen Capital Management Llc released its “Polen Focus Growth Strategy” Q2 2026 investor letter. A copy of the letter can be downloaded here. Polen Focus Growth returned 6.33% (net of fees) in the second quarter of 2026, significantly underperforming the Russell 1000 Growth Index’s 16.74% gain, as the market rally remained narrowly focused on AI infrastructure and semiconductor stocks. During the quarter, Polen Capital repositioned the portfolio toward companies benefiting from structural growth in AI infrastructure, power demand, and aerospace. Looking ahead, the managers remain confident in the long-term earnings potential of the portfolio but acknowledge that changing market dynamics and the rising opportunity cost of patience require a more nimble approach. They remain focused on competitively advantaged businesses with durable growth prospects, while selectively participating in AI infrastructure, commercial aerospace, and power infrastructure opportunities where supply constraints and long-term demand could support sustained earnings growth. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Polen Focus Growth Strategy highlighted stocks like Uber Technologies, Inc. (NYSE:UBER). Uber Technologies, Inc. (NYSE:UBER) operates a global mobility and delivery platform connecting consumers with ride-hailing, food delivery, and freight services. The one-month return of Uber Technologies, Inc. (NYSE:UBER) was 4.72% while its shares traded between $65.41 and $101.99 over the last 52 weeks. On August 13, 2026, Uber Technologies, Inc. (NYSE:UBER) stock closed at approximately $75.36 per share, with a market capitalization of about $154.99 billion.
Polen Focus Growth Strategy stated the following regarding Uber Technologies, Inc. (NYSE:UBER) in its Q2 2026 investor letter:
Lastly, we sold our position in Uber Technologies (NYSE:UBER) to fund the aforementioned TSMC purchase. While Uber is growing nicely, it is difficult to disprove the negative narrative on autonomous vehicle disruption so we decided to use the proceeds elsewhere.
Uber Technologies, Inc. (NYSE:UBER) is in 12th position on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. As per our database, 153 hedge fund portfolios held Uber Technologies, Inc. (NYSE:UBER) at the end of the first quarter, which was 147 in the previous quarter. While we acknowledge the risk and potential of Uber Technologies, Inc. (NYSE:UBER) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Uber Technologies, Inc. (NYSE:UBER) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Uber Technologies, Inc. (NYSE:UBER) and looked at how the company is leveraging drone technology to enhance its delivery network. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
