Separately Managed Account Quality Growth

Polen Focus Growth SMA

U.S. Equity, Large Cap

The Polen Focus Growth separately managed account seeks to achieve long-term growth of capital through a concentrated portfolio of competitively advantaged businesses with potential for sustainable, above-average earnings growth. The SMA structure offers investors direct ownership of securities, customization flexibility, and potential tax-loss harvesting benefits.

Strategy Snapshot
Inception Date 01-01-1989
Strategy Assets —
Number of Holdings 26
Style Growth
Benchmark Russell 1000 Growth, S&P 500
Portfolio Management

Experience in high quality growth investing.

Dan Davidowitz, CFA
Portfolio Manager
Damon Ficklin
Head of Team, Portfolio Manager
Performance

Composite returns.

QTR
YTD
1 Yr
3 Yr
5 Yr
10 Yr
Inception
Focus Growth (Gross)
6.46%
-11.81%
-10.11%
6.23%
0.47%
12.34%
13.71%
Focus Growth (Net)
6.33%
-12.03%
-10.66%
5.46%
-0.27%
11.66%
12.76%
Russell 1000 Growth
16.74%
5.33%
17.71%
22.55%
13.71%
18.57%
12.01%
S&P 500
15.20%
10.21%
22.32%
20.59%
13.40%
15.50%
11.43%

Returns are presented gross and net of management fees and include the reinvestment of all income. Gross returns will be reduced by fees and other expenses that may be incurred in the management of the account. Net returns are presented net of actual management fees and transaction costs. Past performance does not guarantee future results. Periods over one-year are annualized. The Focus Growth composite inception date is January 1, 1989.

Portfolio

Portfolio overview.

Top ten holdings

Company
Weight
Eli Lilly
7.43%
NVIDIA
7.13%
Microsoft
7.03%
Broadcom
6.77%
Alphabet
6.65%
Amazon.com
5.89%
Visa
5.47%
Mastercard
5.21%
Oracle
5.06%
ServiceNow
5.00%
Total
61.64%

Portfolio characteristics

Characteristic
Strategy
Weighted Average Market Cap
$1,407.8B
Polen Long Term EPS Growth Estimate
18.2%
Net Debt/EBITDA
0.3x
P/E Forward (12m)
26.4x
Return on Invested Capital ex Cash
33.6%
Active Share
62.1%
5-Yr Annual Turnover
29.0%

GICS sector exposure

Information Technology41.46%
Financials14.15%
Health Care11.77%
Consumer Discretionary11.63%
Industrials9.00%
Communication Services8.38%
Real Estate2.48%
Cash1.12%
Risk Statistics

Risk-adjusted returns.

Since inception · As of 06-30-2026

vs. Russell 1000 Growth

Strategy
Benchmark
Alpha
2.82
—
Beta
0.77
1.00
Sharpe Ratio
0.61
0.48
Upside Capture Ratio
86.76
100.00
Downside Capture Ratio
71.87
100.00
Information Ratio
0.09
—
Standard Deviation
16.07%
18.71%

vs. S&P 500

Strategy
Benchmark
Alpha
2.26
—
Beta
0.89
1.00
Sharpe Ratio
0.61
0.54
Upside Capture Ratio
97.57
100.00
Downside Capture Ratio
82.75
100.00
Information Ratio
0.16
—
Standard Deviation
16.07%
15.74%
Materials

Strategy materials.

PDF
SMA Factsheet
Q2 2026
PDF
Quarterly Commentary
Q2 2026
PDF
GIPS Composite Report
Current

Invest in Focus Growth.

Speak with our team to learn more about the SMA or other vehicle options.

Important Disclosures

Past performance does not guarantee future results. The information presented is supplemental to the GIPS Composite Report for this strategy available upon request. Results are presented gross and net of management fees and include the reinvestment of all income. Gross returns will be reduced by fees and other expenses that may be incurred in the management of the account. Net returns are presented net of actual management fees and transaction costs. Actual returns may differ from composite returns depending on account size, investment guidelines, inception date, and other factors.

Polen Capital Management is an independent registered investment adviser. The firm maintains a complete list and description of composites and a presentation that complies with the requirements of the GIPS standards, which is available upon request by contacting the firm.

Benchmarks:
The S&P 500 Index is a market capitalization weighted index that measures 500 common equities that are generally representative of the U.S. stock market. The Russell 1000 Growth Index measures the performance of the large-cap growth segment of the U.S. equity universe. An investor cannot invest directly in an index. The performance of an index does not reflect any transaction costs, management fees, or taxes.

This material is provided for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy, or investment product. References to specific securities and issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities.