Polen Global Growth Strategy’s Q4 2025 Investor Letter

Polen Capital, an investment management company, released its fourth-quarter 2025 investor letter for “Polen Global Growth Strategy”. The fourth quarter of 2025 seemed to be like the entire year. The stock market experienced a severe 5% sell-off in the fourth quarter but quickly recovered to all-time highs, mirroring the V-shaped recovery from April lows. In this environment, the Fund’s quality-heavy portfolio faced relative performance headwinds. The portfolio’s software holdings trailed the broader market gains despite revenue and earnings growth. The Portfolio returned -2.5% gross of fees (-2.7% net of fees) in Q4 2025, lagging 3.3% gain for the MSCI All Country World Index (the “Index”). Please review the Strategy’s top five holdings to gain insights into their key selections for 2025.

A copy of Polen Global Growth Strategy’s Q4 2025 investor letter can be downloaded here.