POLEN CAPITAL MANAGEMENT LLC

Polen Capital Management is an investment management firm based out of Boca Raton, Florida. The company was established in 1989 by David M. Polen, who passed away in 2012 at the age of 68. The management of the portfolio has now been pushed onto Daniel A. Davidowitz, who had co-managed with David Polen since 2007, and the company itself is currently headed by Stanley C. Moss. Polen Capital Management has grown from its inception to 31 employees with 7 of them being investment professionals. The company believes that “consistent earnings growth is the primary driver of intrinsic value and long-term stock appreciation,” focusing on delivering sustainable earnings growth. Polen Capital Management utilizes a bottom up methodology with a fundamental analysis to make its investment decisions, allocating its assets in the growth stocks of large cap companies on a global scale. The company invests in various public equity markets around the world, benchmarking its performance against the Russell 1000 and S&P 500 Indexes. Polen Capital Management invests most heavily in the information technology sector, which alone makes up almost half of its total asset allocations, and also invests in the consumer discretionary, health care, and industrials sectors, in order of decreasing allocations. The company has a turnover rate of 12.5% and holds a concentrated portfolio with its top 10 holdings alone making up approximately 60% of its total asset allocations. Polen Capital Management currently holds approximately $5.5 billion in total assets under management spread across over 2,900 accounts, all of which are discretionary. The company mainly caters to high net worth individuals, which alone makes up almost half its client base, and also provides its services to pension and profit sharing plans, corporations, and state or municipal government entities, among others to a lesser degree, in order of decreasing clientele. Polen Capital Management currently offers its Focus Growth and Global Growth strategies.