# EDGAR Filing Document

**Accession Number:** 0001034524
**File Stem:** 0001172661-25-003133
**Filing Date:** 2025-8
**Character Count:** 27366
**Document Hash:** 9ffb6bbfcf1939b606df147446b0fe5e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-003133.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0001172661-25-003133

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250813

**DATE AS OF CHANGE**: 20250813

**EFFECTIVENESS DATE**: 20250813

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** POLEN CAPITAL MANAGEMENT LLC
- **CENTRAL INDEX KEY:** 0001034524

**ORGANIZATION NAME:**
- **EIN:** 132984374
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-03687
- **FILM NUMBER:** 251210076

**BUSINESS ADDRESS:**
- **STREET 1:** 1825 NW CORPORATE BOULEVARD
- **STREET 2:** SUITE 300
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33431
- **BUSINESS PHONE:** 561-241-2425

**MAIL ADDRESS:**
- **STREET 1:** 1825 NW CORPORATE BOULEVARD
- **STREET 2:** SUITE 300
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33431

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** POLEN CAPITAL MANAGEMENT INC
- **DATE OF NAME CHANGE:** 19990330

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** POLEN CAPITAL MANAGEMENT LLC<br>**Address:** 1825 Nw Corporate Boulevard<br>Suite 300<br>Boca Raton, FL 33431

**Form 13F File Number:** 028-03687

**CRD Number (if applicable):** 000106093

**SEC File Number (if applicable):** 801-15180

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Lauren Walsh<br>**Title:** Chief Compliance Officer<br>**Phone:** 781-283-8542

**Signature, Place, and Date of Signing:**

/s/ Lauren Walsh  Boca Raton, FL  08-13-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 240

**Form 13F Information Table Value Total:** $32586427255

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AAON INC | COM PAR $0.004 | 000360206 |  | 236221 | 3203 | SH |  | SOLE |  | 3203 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 1451158449 | 10669498 | SH |  | SOLE |  | 10669498 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 880876004 | 2947158 | SH |  | SOLE |  | 2947158 | 0 | 0 |
| ACUITY INC | COM | 00508Y102 |  | 459444 | 1540 | SH |  | SOLE |  | 1540 | 0 | 0 |
| ADAPTIVE BIOTECHNOLOGIES COR | COM | 00650F109 |  | 1657294 | 142257 | SH |  | SOLE |  | 142257 | 0 | 0 |
| ADMA BIOLOGICS INC | COM | 000899104 |  | 553803 | 30412 | SH |  | SOLE |  | 30412 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 1298671456 | 3356781 | SH |  | SOLE |  | 3356781 | 0 | 0 |
| ADT INC DEL | COM | 00090Q103 |  | 617683 | 72926 | SH |  | SOLE |  | 72926 | 0 | 0 |
| AEHR TEST SYS | COM | 00760J108 |  | 271530 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| AFFIRM HLDGS INC | COM CL A | 00827B106 |  | 2076067 | 30027 | SH |  | SOLE |  | 30027 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 973258595 | 7354228 | SH |  | SOLE |  | 7354228 | 0 | 0 |
| ALKAMI TECHNOLOGY INC | COM | 01644J108 |  | 570098 | 18915 | SH |  | SOLE |  | 18915 | 0 | 0 |
| ALLISON TRANSMISSION HLDGS I | COM | 01973R101 |  | 416911 | 4389 | SH |  | SOLE |  | 4389 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1164080117 | 6562265 | SH |  | SOLE |  | 6562265 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 109265878 | 620019 | SH |  | SOLE |  | 620019 | 0 | 0 |
| ALPHATEC HLDGS INC | COM NEW | 02081G201 |  | 379531 | 34192 | SH |  | SOLE |  | 34192 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 3054312473 | 13921840 | SH |  | SOLE |  | 13921840 | 0 | 0 |
| AMERICAN SUPERCONDUCTOR CORP | SHS NEW | 030111207 |  | 1732538 | 47221 | SH |  | SOLE |  | 47221 | 0 | 0 |
| AON PLC | SHS CL A | G0403H108 |  | 979529926 | 2745627 | SH |  | SOLE |  | 2745627 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 1749237 | 8526 | SH |  | SOLE |  | 8526 | 0 | 0 |
| APPLIED INDL TECHNOLOGIES IN | COM | 03820C105 |  | 363784 | 1565 | SH |  | SOLE |  | 1565 | 0 | 0 |
| ARCHER AVIATION INC | COM CL A | 03945R102 |  | 2112126 | 194666 | SH |  | SOLE |  | 194666 | 0 | 0 |
| ARGAN INC | COM | 04010E109 |  | 9882134 | 44821 | SH |  | SOLE |  | 44821 | 0 | 0 |
| ARLO TECHNOLOGIES INC | COM | 04206A101 |  | 834262 | 49190 | SH |  | SOLE |  | 49190 | 0 | 0 |
| ASCENDIS PHARMA A/S | SPONSORED ADR | 04351P101 |  | 469299 | 2719 | SH |  | SOLE |  | 2719 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 35681806 | 44525 | SH |  | SOLE |  | 44525 | 0 | 0 |
| ASP ISOTOPES INC | COM | 00218A105 |  | 1289016 | 175138 | SH |  | SOLE |  | 175138 | 0 | 0 |
| ASTEC INDS INC | COM | 046224101 |  | 456756 | 10956 | SH |  | SOLE |  | 10956 | 0 | 0 |
| ASTRONICS CORP | COM | 046433108 |  | 1667003 | 49791 | SH |  | SOLE |  | 49791 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 433177 | 1399 | SH |  | SOLE |  | 1399 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 29154595 | 94535 | SH |  | SOLE |  | 94535 | 0 | 0 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 763361 | 922 | SH |  | SOLE |  | 922 | 0 | 0 |
| AXSOME THERAPEUTICS INC | COM | 05464T104 |  | 337388 | 3232 | SH |  | SOLE |  | 3232 | 0 | 0 |
| BARRETT BUSINESS SVCS INC | COM | 068463108 |  | 1256662 | 30143 | SH |  | SOLE |  | 30143 | 0 | 0 |
| BEL FUSE INC | CL B | 077347300 |  | 1991508 | 20386 | SH |  | SOLE |  | 20386 | 0 | 0 |
| BELDEN INC | COM | 077454106 |  | 1236976 | 10682 | SH |  | SOLE |  | 10682 | 0 | 0 |
| BLACKLINE INC | COM | 09239B109 |  | 269681 | 4763 | SH |  | SOLE |  | 4763 | 0 | 0 |
| BLOOM ENERGY CORP | COM CL A | 093712107 |  | 1634119 | 68316 | SH |  | SOLE |  | 68316 | 0 | 0 |
| BRIDGEBIO PHARMA INC | COM | 10806X102 |  | 1539324 | 35649 | SH |  | SOLE |  | 35649 | 0 | 0 |
| BROOKDALE SR LIVING INC | COM | 112463104 |  | 584730 | 84013 | SH |  | SOLE |  | 84013 | 0 | 0 |
| BUTTERFLY NETWORK INC | COM CL A | 124155102 |  | 269604 | 134802 | SH |  | SOLE |  | 134802 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 5911790 | 41037 | SH |  | SOLE |  | 41037 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 3386076 | 45616 | SH |  | SOLE |  | 45616 | 0 | 0 |
| CARPENTER TECHNOLOGY CORP | COM | 144285103 |  | 2618701 | 9475 | SH |  | SOLE |  | 9475 | 0 | 0 |
| CARVANA CO | CL A | 146869102 |  | 3940747 | 11695 | SH |  | SOLE |  | 11695 | 0 | 0 |
| CCC INTELLIGENT SOLUTIONS HL | COM | 12510Q100 |  | 390496 | 41498 | SH |  | SOLE |  | 41498 | 0 | 0 |
| CECO ENVIRONMENTAL CORP | COM | 125141101 |  | 518554 | 18317 | SH |  | SOLE |  | 18317 | 0 | 0 |
| CENTRAL PAC FINL CORP | COM NEW | 154760409 |  | 482452 | 17212 | SH |  | SOLE |  | 17212 | 0 | 0 |
| CHEESECAKE FACTORY INC | COM | 163072101 |  | 996545 | 15904 | SH |  | SOLE |  | 15904 | 0 | 0 |
| CLEARWATER ANALYTICS HLDGS I | CL A | 185123106 |  | 258445 | 11785 | SH |  | SOLE |  | 11785 | 0 | 0 |
| COMMVAULT SYS INC | COM | 204166102 |  | 2291045 | 13142 | SH |  | SOLE |  | 13142 | 0 | 0 |
| COMPOSECURE INC | COM CL A | 20459V105 |  | 1912957 | 135767 | SH |  | SOLE |  | 135767 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 1294268 | 4010 | SH |  | SOLE |  | 4010 | 0 | 0 |
| CONSTRUCTION PARTNERS INC | COM CL A | 21044C107 |  | 1337321 | 12583 | SH |  | SOLE |  | 12583 | 0 | 0 |
| CORCEPT THERAPEUTICS INC | COM | 218352102 |  | 1583678 | 21576 | SH |  | SOLE |  | 21576 | 0 | 0 |
| CORE  MAIN INC | CL A | 21874C102 |  | 2052685 | 34013 | SH |  | SOLE |  | 34013 | 0 | 0 |
| CORPORACION AMER ARPTS S A | COM | L1995B107 |  | 1385379 | 68380 | SH |  | SOLE |  | 68380 | 0 | 0 |
| COSTAR GROUP INC | COM | 22160N109 |  | 556675810 | 6923828 | SH |  | SOLE |  | 6923828 | 0 | 0 |
| CREDO TECHNOLOGY GROUP HOLDI | ORDINARY SHARES | G25457105 |  | 2260770 | 24417 | SH |  | SOLE |  | 24417 | 0 | 0 |
| CURTISS WRIGHT CORP | COM | 231561101 |  | 1023512 | 2095 | SH |  | SOLE |  | 2095 | 0 | 0 |
| D MARKET ELECTR SVCS  TRADI | SPONSORED ADS | 23292B104 |  | 310006 | 114817 | SH |  | SOLE |  | 114817 | 0 | 0 |
| DAVE INC | CLASS A COM NEW | 23834J201 |  | 3387603 | 12621 | SH |  | SOLE |  | 12621 | 0 | 0 |
| DLOCAL LTD | CLASS A COM | G29018101 |  | 6870736 | 605885 | SH |  | SOLE |  | 605885 | 0 | 0 |
| DOXIMITY INC | CL A | 26622P107 |  | 362826 | 5915 | SH |  | SOLE |  | 5915 | 0 | 0 |
| DUTCH BROS INC | CL A | 26701L100 |  | 1002509 | 14663 | SH |  | SOLE |  | 14663 | 0 | 0 |
| E L F BEAUTY INC | COM | 26856L103 |  | 480836 | 3864 | SH |  | SOLE |  | 3864 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 1354753358 | 1737910 | SH |  | SOLE |  | 1737910 | 0 | 0 |
| EMBRAER S.A. | SPONSORED ADS | 29082A107 |  | 1268182 | 22284 | SH |  | SOLE |  | 22284 | 0 | 0 |
| ENOVIX CORPORATION | COM | 293594107 |  | 2002662 | 193681 | SH |  | SOLE |  | 193681 | 0 | 0 |
| ESQUIRE FINL HLDGS INC | COM | 29667J101 |  | 1106765 | 11692 | SH |  | SOLE |  | 11692 | 0 | 0 |
| EVERQUOTE INC | COM CL A | 30041R108 |  | 696529 | 28806 | SH |  | SOLE |  | 28806 | 0 | 0 |
| EXLSERVICE HOLDINGS INC | COM | 302081104 |  | 1847982 | 42201 | SH |  | SOLE |  | 42201 | 0 | 0 |
| FABRINET | SHS | G3323L100 |  | 1207599 | 4098 | SH |  | SOLE |  | 4098 | 0 | 0 |
| FIRSTSERVICE CORP NEW | COM | 33767E202 |  | 392371 | 2247 | SH |  | SOLE |  | 2247 | 0 | 0 |
| FIVERR INTL LTD | ORD SHS | M4R82T106 |  | 1062421 | 36223 | SH |  | SOLE |  | 36223 | 0 | 0 |
| FTAI AVIATION LTD | SHS | G3730V105 |  | 1686716 | 14662 | SH |  | SOLE |  | 14662 | 0 | 0 |
| GARTNER INC | COM | 366651107 |  | 314974565 | 779216 | SH |  | SOLE |  | 779216 | 0 | 0 |
| GATES INDL CORP PLC | ORD SHS | G39108108 |  | 428703 | 18615 | SH |  | SOLE |  | 18615 | 0 | 0 |
| GENEDX HOLDINGS CORP | COM CL A | 81663L200 |  | 7475264 | 80980 | SH |  | SOLE |  | 80980 | 0 | 0 |
| GENERAC HLDGS INC | COM | 368736104 |  | 362321 | 2530 | SH |  | SOLE |  | 2530 | 0 | 0 |
| GLOBAL X FDS | S 500 CATHOLIC | 37954Y889 |  | 3545622 | 46993 | SH |  | SOLE |  | 46993 | 0 | 0 |
| GLOBANT S A | COM | L44385109 |  | 24797565 | 272981 | SH |  | SOLE |  | 272981 | 0 | 0 |
| GOOSEHEAD INS INC | COM CL A | 38267D109 |  | 1727093 | 16369 | SH |  | SOLE |  | 16369 | 0 | 0 |
| GRAIL INC | COM | 384747101 |  | 1128052 | 21938 | SH |  | SOLE |  | 21938 | 0 | 0 |
| GRUPO FINANCIERO GALICIA S.A | SPONSORED ADR | 399909100 |  | 1985064 | 39394 | SH |  | SOLE |  | 39394 | 0 | 0 |
| GRUPO SUPERVIELLE S.A. | SPONSORED ADR | 40054A108 |  | 1028045 | 97077 | SH |  | SOLE |  | 97077 | 0 | 0 |
| GUARDANT HEALTH INC | COM | 40131M109 |  | 529923 | 10183 | SH |  | SOLE |  | 10183 | 0 | 0 |
| HAMILTON LANE INC | CL A | 407497106 |  | 1429869 | 10061 | SH |  | SOLE |  | 10061 | 0 | 0 |
| HCI GROUP INC | COM | 40416E103 |  | 2126538 | 13972 | SH |  | SOLE |  | 13972 | 0 | 0 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 43753926 | 570679 | SH |  | SOLE |  | 570679 | 0 | 0 |
| HEALTHEQUITY INC | COM | 42226A107 |  | 863537 | 8243 | SH |  | SOLE |  | 8243 | 0 | 0 |
| HIMS  HERS HEALTH INC | COM CL A | 433000106 |  | 695358 | 13949 | SH |  | SOLE |  | 13949 | 0 | 0 |
| HONEST CO INC | COM | 438333106 |  | 733204 | 144048 | SH |  | SOLE |  | 144048 | 0 | 0 |
| HOULIHAN LOKEY INC | CL A | 441593100 |  | 459772 | 2555 | SH |  | SOLE |  | 2555 | 0 | 0 |
| HURON CONSULTING GROUP INC | COM | 447462102 |  | 1453523 | 10568 | SH |  | SOLE |  | 10568 | 0 | 0 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 16835979 | 500475 | SH |  | SOLE |  | 500475 | 0 | 0 |
| ICON PLC | SHS | G4705A100 |  | 78602580 | 540410 | SH |  | SOLE |  | 540410 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 641154277 | 1195425 | SH |  | SOLE |  | 1195425 | 0 | 0 |
| IES HLDGS INC | COM | 44951W106 |  | 4094195 | 13821 | SH |  | SOLE |  | 13821 | 0 | 0 |
| INSIGHT ENTERPRISES INC | COM | 45765U103 |  | 1366627 | 9897 | SH |  | SOLE |  | 9897 | 0 | 0 |
| INSTALLED BLDG PRODS INC | COM | 45780R101 |  | 781687 | 4335 | SH |  | SOLE |  | 4335 | 0 | 0 |
| INTAPP INC | COM | 45827U109 |  | 288814 | 5595 | SH |  | SOLE |  | 5595 | 0 | 0 |
| IRADIMED CORP | COM | 46266A109 |  | 1488113 | 24889 | SH |  | SOLE |  | 24889 | 0 | 0 |
| IRSA INVERSIONES Y REP S A | SPON GDS ECH 10 | 450047303 |  | 2278920 | 163598 | SH |  | SOLE |  | 163598 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 95788998 | 225609 | SH |  | SOLE |  | 225609 | 0 | 0 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 11388570 | 88558 | SH |  | SOLE |  | 88558 | 0 | 0 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 500631 | 4972 | SH |  | SOLE |  | 4972 | 0 | 0 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 1345684 | 22082 | SH |  | SOLE |  | 22082 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 220420 | 355 | SH |  | SOLE |  | 355 | 0 | 0 |
| ITRON INC | COM | 465741106 |  | 1145576 | 8703 | SH |  | SOLE |  | 8703 | 0 | 0 |
| IVANHOE ELECTRIC INC | COM | 46578C108 |  | 1038923 | 114545 | SH |  | SOLE |  | 114545 | 0 | 0 |
| JOBY AVIATION INC | COMMON STOCK | G65163100 |  | 3750156 | 355465 | SH |  | SOLE |  | 355465 | 0 | 0 |
| KAROOOOO LTD | ORD SHS | Y4600W108 |  | 4151888 | 84767 | SH |  | SOLE |  | 84767 | 0 | 0 |
| KORNIT DIGITAL LTD | SHS | M6372Q113 |  | 718054 | 36065 | SH |  | SOLE |  | 36065 | 0 | 0 |
| KRATOS DEFENSE  SEC SOLUTIO | COM NEW | 50077B207 |  | 1603965 | 34531 | SH |  | SOLE |  | 34531 | 0 | 0 |
| KURA SUSHI USA INC | CL A COM | 501270102 |  | 376944 | 4379 | SH |  | SOLE |  | 4379 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 568502 | 13066 | SH |  | SOLE |  | 13066 | 0 | 0 |
| LATHAM GROUP INC | COM | 51819L107 |  | 760604 | 119217 | SH |  | SOLE |  | 119217 | 0 | 0 |
| LIFE TIME GROUP HOLDINGS INC | COMMON STOCK | 53190C102 |  | 1490507 | 49143 | SH |  | SOLE |  | 49143 | 0 | 0 |
| LIMBACH HLDGS INC | COM | 53263P105 |  | 2201952 | 15717 | SH |  | SOLE |  | 15717 | 0 | 0 |
| LIQUIDITY SVCS INC | COM | 53635B107 |  | 958415 | 40628 | SH |  | SOLE |  | 40628 | 0 | 0 |
| LOMA NEGRA C I A S A MTN 14 | SPONSORED ADS | 54150E104 |  | 2058926 | 187687 | SH |  | SOLE |  | 187687 | 0 | 0 |
| LUXEXPERIENCE BV | SPONSORED ADS | 55406W103 |  | 241844 | 30459 | SH |  | SOLE |  | 30459 | 0 | 0 |
| MAKEMYTRIP LIMITED MAURITIUS | SHS | V5633W109 |  | 10288389 | 104962 | SH |  | SOLE |  | 104962 | 0 | 0 |
| MAREX GROUP PLC | ORD | G5S37H101 |  | 731103 | 18523 | SH |  | SOLE |  | 18523 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 1681351455 | 2992048 | SH |  | SOLE |  | 2992048 | 0 | 0 |
| MEDPACE HLDGS INC | COM | 58506Q109 |  | 1446267 | 4608 | SH |  | SOLE |  | 4608 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 20475022 | 234886 | SH |  | SOLE |  | 234886 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 162539156 | 62189 | SH |  | SOLE |  | 62189 | 0 | 0 |
| MERUS N V | COM | N5749R100 |  | 306868 | 5834 | SH |  | SOLE |  | 5834 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 2699008078 | 5426123 | SH |  | SOLE |  | 5426123 | 0 | 0 |
| MILLER INDS INC TENN | COM NEW | 600551204 |  | 512624 | 11530 | SH |  | SOLE |  | 11530 | 0 | 0 |
| MILLICOM INTL CELLULAR S A | COM STK | L6388F110 |  | 702675 | 18753 | SH |  | SOLE |  | 18753 | 0 | 0 |
| MIRION TECHNOLOGIES INC | COM CL A | 60471A101 |  | 1232162 | 57230 | SH |  | SOLE |  | 57230 | 0 | 0 |
| MIRUM PHARMACEUTICALS INC | COM | 604749101 |  | 789151 | 15507 | SH |  | SOLE |  | 15507 | 0 | 0 |
| MODINE MFG CO | COM | 607828100 |  | 1907551 | 19366 | SH |  | SOLE |  | 19366 | 0 | 0 |
| MONDAY COM LTD | SHS | M7S64H106 |  | 30685399 | 97575 | SH |  | SOLE |  | 97575 | 0 | 0 |
| MSCI INC | COM | 55354G100 |  | 1004328671 | 1741389 | SH |  | SOLE |  | 1741389 | 0 | 0 |
| NATERA INC | COM | 632307104 |  | 544494 | 3223 | SH |  | SOLE |  | 3223 | 0 | 0 |
| NATURAL GROCERS BY VITAMIN C | COM | 63888U108 |  | 1321508 | 33669 | SH |  | SOLE |  | 33669 | 0 | 0 |
| NAYAX LTD | SHS | M7S750159 |  | 635111 | 12634 | SH |  | SOLE |  | 12634 | 0 | 0 |
| NETEASE INC | SPONSORED ADS | 64110W102 |  | 570888 | 4242 | SH |  | SOLE |  | 4242 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 1091704546 | 815234 | SH |  | SOLE |  | 815234 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 259598 | 3654 | SH |  | SOLE |  | 3654 | 0 | 0 |
| NLIGHT INC | COM | 65487K100 |  | 598764 | 30425 | SH |  | SOLE |  | 30425 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 12331747 | 178669 | SH |  | SOLE |  | 178669 | 0 | 0 |
| NRG ENERGY INC | COM NEW | 629377508 |  | 984677 | 6132 | SH |  | SOLE |  | 6132 | 0 | 0 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 34118941 | 2486803 | SH |  | SOLE |  | 2486803 | 0 | 0 |
| NUSCALE PWR CORP | CL A COM | 67079K100 |  | 3379453 | 85426 | SH |  | SOLE |  | 85426 | 0 | 0 |
| NUTANIX INC | CL A | 67059N108 |  | 688801 | 9011 | SH |  | SOLE |  | 9011 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2692466 | 17042 | SH |  | SOLE |  | 17042 | 0 | 0 |
| OCULIS HOLDING AG | ORDINARY SHARES | H5870P102 |  | 377952 | 19472 | SH |  | SOLE |  | 19472 | 0 | 0 |
| ODDITY TECH LTD | SHS CL A | M7518J104 |  | 2547188 | 33751 | SH |  | SOLE |  | 33751 | 0 | 0 |
| OLLIES BARGAIN OUTLET HLDGS | COM | 681116109 |  | 1021163 | 7749 | SH |  | SOLE |  | 7749 | 0 | 0 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 25495494 | 489827 | SH |  | SOLE |  | 489827 | 0 | 0 |
| OPENLANE INC | COM | 48238T109 |  | 1232378 | 50404 | SH |  | SOLE |  | 50404 | 0 | 0 |
| OPPENHEIMER HLDGS INC | CL A NON VTG | 683797104 |  | 1182676 | 17982 | SH |  | SOLE |  | 17982 | 0 | 0 |
| OPPFI INC | COM CL A | 68386H103 |  | 850214 | 60773 | SH |  | SOLE |  | 60773 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 2619887945 | 11983204 | SH |  | SOLE |  | 11983204 | 0 | 0 |
| OSCAR HEALTH INC | CL A | 687793109 |  | 1029120 | 48000 | SH |  | SOLE |  | 48000 | 0 | 0 |
| PAGAYA TECHNOLOGIES LTD | CL A NEW | M7S64L123 |  | 735178 | 34483 | SH |  | SOLE |  | 34483 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 333848 | 2449 | SH |  | SOLE |  | 2449 | 0 | 0 |
| PAYCOM SOFTWARE INC | COM | 70432V102 |  | 670247486 | 2896489 | SH |  | SOLE |  | 2896489 | 0 | 0 |
| PAYLOCITY HLDG CORP | COM | 70438V106 |  | 1671115 | 9223 | SH |  | SOLE |  | 9223 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 314225 | 4228 | SH |  | SOLE |  | 4228 | 0 | 0 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 6730580 | 64309 | SH |  | SOLE |  | 64309 | 0 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 |  | 1487700 | 214366 | SH |  | SOLE |  | 214366 | 0 | 0 |
| PENNANT GROUP INC | COM | 70805E109 |  | 327156 | 10960 | SH |  | SOLE |  | 10960 | 0 | 0 |
| PHREESIA INC | COM | 71944F106 |  | 494151 | 17363 | SH |  | SOLE |  | 17363 | 0 | 0 |
| PITNEY BOWES INC | COM | 724479100 |  | 744302 | 68222 | SH |  | SOLE |  | 68222 | 0 | 0 |
| PLANET FITNESS INC | CL A | 72703H101 |  | 637070 | 5842 | SH |  | SOLE |  | 5842 | 0 | 0 |
| PORCH GROUP INC | COM | 733245104 |  | 1591909 | 135022 | SH |  | SOLE |  | 135022 | 0 | 0 |
| POWELL INDS INC | COM | 739128106 |  | 5297658 | 25173 | SH |  | SOLE |  | 25173 | 0 | 0 |
| PREFORMED LINE PRODS CO | COM | 740444104 |  | 903246 | 5652 | SH |  | SOLE |  | 5652 | 0 | 0 |
| PROGYNY INC | COM | 74340E103 |  | 1422300 | 64650 | SH |  | SOLE |  | 64650 | 0 | 0 |
| PROTAGONIST THERAPEUTICS INC | COM | 74366E102 |  | 884265 | 15999 | SH |  | SOLE |  | 15999 | 0 | 0 |
| PURECYCLE TECHNOLOGIES INC | COM | 74623V103 |  | 1250892 | 91306 | SH |  | SOLE |  | 91306 | 0 | 0 |
| QUALYS INC | COM | 74758T303 |  | 207447 | 1452 | SH |  | SOLE |  | 1452 | 0 | 0 |
| RAMACO RES INC | COM CL A | 75134P600 |  | 817374 | 62205 | SH |  | SOLE |  | 62205 | 0 | 0 |
| RAMBUS INC DEL | COM | 750917106 |  | 1289043 | 20135 | SH |  | SOLE |  | 20135 | 0 | 0 |
| RED VIOLET INC | COM | 75704L104 |  | 1331942 | 27072 | SH |  | SOLE |  | 27072 | 0 | 0 |
| REPLIGEN CORP | COM | 759916109 |  | 238436 | 1917 | SH |  | SOLE |  | 1917 | 0 | 0 |
| RESOLUTE HLDGS MGMT INC | COM | 76134H101 |  | 456920 | 14337 | SH |  | SOLE |  | 14337 | 0 | 0 |
| REVOLVE GROUP INC | CL A | 76156B107 |  | 763725 | 38091 | SH |  | SOLE |  | 38091 | 0 | 0 |
| RIBBON COMMUNICATIONS INC | COM | 762544104 |  | 522054 | 130188 | SH |  | SOLE |  | 130188 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 1360426 | 4989 | SH |  | SOLE |  | 4989 | 0 | 0 |
| SAMSARA INC | COM CL A | 79589L106 |  | 1438644 | 36165 | SH |  | SOLE |  | 36165 | 0 | 0 |
| SAP SE | SPON ADR | 803054204 |  | 147935796 | 486471 | SH |  | SOLE |  | 486471 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 13424131 | 83932 | SH |  | SOLE |  | 83932 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 1209941837 | 1176895 | SH |  | SOLE |  | 1176895 | 0 | 0 |
| SERVICETITAN INC | SHS CL A | 81764X103 |  | 370950 | 3461 | SH |  | SOLE |  | 3461 | 0 | 0 |
| SHAKE SHACK INC | CL A | 819047101 |  | 1354259 | 9632 | SH |  | SOLE |  | 9632 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 1694509943 | 14690160 | SH |  | SOLE |  | 14690160 | 0 | 0 |
| SIONNA THERAPEUTICS INC | COM | 829401108 |  | 294516 | 16975 | SH |  | SOLE |  | 16975 | 0 | 0 |
| SITEONE LANDSCAPE SUPPLY INC | COM | 82982L103 |  | 220232 | 1821 | SH |  | SOLE |  | 1821 | 0 | 0 |
| SITIME CORP | COM | 82982T106 |  | 492641 | 2312 | SH |  | SOLE |  | 2312 | 0 | 0 |
| SKYWEST INC | COM | 830879102 |  | 1219062 | 11839 | SH |  | SOLE |  | 11839 | 0 | 0 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 3112016 | 170896 | SH |  | SOLE |  | 170896 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 1595411 | 2582 | SH |  | SOLE |  | 2582 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 22595264 | 29446 | SH |  | SOLE |  | 29446 | 0 | 0 |
| SPROUTS FMRS MKT INC | COM | 85208M102 |  | 999036 | 6068 | SH |  | SOLE |  | 6068 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 885935504 | 9668618 | SH |  | SOLE |  | 9668618 | 0 | 0 |
| STERLING INFRASTRUCTURE INC | COM | 859241101 |  | 823475 | 3569 | SH |  | SOLE |  | 3569 | 0 | 0 |
| STRATASYS LTD | SHS | M85548101 |  | 937466 | 81732 | SH |  | SOLE |  | 81732 | 0 | 0 |
| STRIDE INC | COM | 86333M108 |  | 1367690 | 9420 | SH |  | SOLE |  | 9420 | 0 | 0 |
| SWEETGREEN INC | COM CL A | 87043Q108 |  | 337047 | 22651 | SH |  | SOLE |  | 22651 | 0 | 0 |
| SYMBOTIC INC | CLASS A COM | 87151X101 |  | 777117 | 20003 | SH |  | SOLE |  | 20003 | 0 | 0 |
| TALEN ENERGY CORP | COM | 87422Q109 |  | 1694026 | 5826 | SH |  | SOLE |  | 5826 | 0 | 0 |
| TECHNIPFMC PLC | COM | G87110105 |  | 1776484 | 51582 | SH |  | SOLE |  | 51582 | 0 | 0 |
| TEMPUS AI INC | CL A | 88023B103 |  | 429467 | 6759 | SH |  | SOLE |  | 6759 | 0 | 0 |
| TENCENT MUSIC ENTMT GROUP | SPON ADS | 88034P109 |  | 19331800 | 991883 | SH |  | SOLE |  | 991883 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 2135311 | 6722 | SH |  | SOLE |  | 6722 | 0 | 0 |
| TG THERAPEUTICS INC | COM | 88322Q108 |  | 531500 | 14768 | SH |  | SOLE |  | 14768 | 0 | 0 |
| THE REAL BROKERAGE INC | COM NEW | 75585H206 |  | 1809976 | 401325 | SH |  | SOLE |  | 401325 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 888098672 | 2190348 | SH |  | SOLE |  | 2190348 | 0 | 0 |
| THREDUP INC | CL A | 88556E102 |  | 396888 | 52989 | SH |  | SOLE |  | 52989 | 0 | 0 |
| TRANSMEDICS GROUP INC | COM | 89377M109 |  | 1525704 | 11385 | SH |  | SOLE |  | 11385 | 0 | 0 |
| TREX CO INC | COM | 89531P105 |  | 324159 | 5961 | SH |  | SOLE |  | 5961 | 0 | 0 |
| TWILIO INC | CL A | 90138F102 |  | 1655605 | 13313 | SH |  | SOLE |  | 13313 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1728476 | 18526 | SH |  | SOLE |  | 18526 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 1926106 | 6174 | SH |  | SOLE |  | 6174 | 0 | 0 |
| UNIVERSAL TECHNICAL INST INC | COM | 913915104 |  | 1626957 | 48007 | SH |  | SOLE |  | 48007 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 5658519 | 12907 | SH |  | SOLE |  | 12907 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 711170 | 5534 | SH |  | SOLE |  | 5534 | 0 | 0 |
| VICTORY CAP HLDGS INC | COM CL A | 92645B103 |  | 1361647 | 21386 | SH |  | SOLE |  | 21386 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 1992220328 | 5611098 | SH |  | SOLE |  | 5611098 | 0 | 0 |
| VISTA ENERGY S.A.B. DE C.V. | SPONSORED ADS | 92837L109 |  | 672304 | 14062 | SH |  | SOLE |  | 14062 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 1157627 | 5973 | SH |  | SOLE |  | 5973 | 0 | 0 |
| VSE CORP | COM | 918284100 |  | 5184581 | 39583 | SH |  | SOLE |  | 39583 | 0 | 0 |
| WARBY PARKER INC | CL A COM | 93403J106 |  | 2307124 | 105204 | SH |  | SOLE |  | 105204 | 0 | 0 |
| WAYFAIR INC | CL A | 94419L101 |  | 884006 | 17286 | SH |  | SOLE |  | 17286 | 0 | 0 |
| WESTERN ALLIANCE BANCORP | COM | 957638109 |  | 427564 | 5483 | SH |  | SOLE |  | 5483 | 0 | 0 |
| WILLIS LEASE FIN CORP | COM | 970646105 |  | 753450 | 5277 | SH |  | SOLE |  | 5277 | 0 | 0 |
| WILLIS TOWERS WATSON PLC LTD | SHS | G96629103 |  | 96263915 | 314075 | SH |  | SOLE |  | 314075 | 0 | 0 |
| WILLSCOT HLDGS CORP | COM CL A | 971378104 |  | 936587 | 34182 | SH |  | SOLE |  | 34182 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 857263257 | 3571930 | SH |  | SOLE |  | 3571930 | 0 | 0 |
| XERIS BIOPHARMA HOLDINGS INC | COM | 98422E103 |  | 621082 | 132994 | SH |  | SOLE |  | 132994 | 0 | 0 |
| XOMETRY INC | CLASS A COM | 98423F109 |  | 260251 | 7702 | SH |  | SOLE |  | 7702 | 0 | 0 |
| YPF SOCIEDAD ANONIMA | SPON ADR CL D | 984245100 |  | 430896 | 13701 | SH |  | SOLE |  | 13701 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 1313259043 | 8421026 | SH |  | SOLE |  | 8421026 | 0 | 0 |

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