The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Jun 30, 2026
Polen Global Growth lagged in Q2 2026 as the market rewarded AI infrastructure momentum while penalizing Software and Healthcare holdings. The managers are adapting to a market where thematic flows and index concentration dominate short-term performance by redeploying capital toward businesses with stronger current momentum and visible demand tailwinds, including aerospace, power infrastructure, and defense, while maintaining their focus on competitively advantaged compounders.
Polen Capital seeks to own competitively advantaged businesses capable of compounding earnings over time, but is adapting to a market environment where momentum, thematic flows, and index concentration have become increasingly important determinants of short-term performance, requiring greater nimbleness in capital allocation while maintaining fundamental research discipline.
The managers remain confident in the long-term earnings power of the Portfolio but recognize that confidence alone is not a portfolio management strategy. They acknowledge the market has changed, the Index has changed, and the cost of being overly patient has risen. They are adapting by being more aware of opportunity cost and working to be more nimble, while preserving their core philosophy of seeking competitively advantaged businesses capable of compounding earnings over time. They are finding opportunities in both obvious places like portions of the AI infrastructure supply chain and less obvious places like commercial aerospace and power infrastructure, where concentrated industry structures, long-duration backlogs, and supply-demand imbalances may support strong growth for many years.
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