PCGG Overview

Portfolio Performance: The Polen Global Growth Composite Portfolio achieved a 3.0% gross return and a 2.7% net return in Q3.

New Investments: The fund initiated new positions in companies like NVIDIA, Broadcom, TSMC, Boston Scientific, and Uber, while also increasing stakes in existing holdings.

Position Adjustments: To optimize the portfolio, the fund sold off positions in ADP, Airbnb, Accenture, and Thermo Fisher Scientific, and made selective reductions in other areas.

Growth Expectations: The fund projects earnings growth of approximately 20% per year in the near term, believing a mid-thirties valuation multiple is justified for this growth rate.

Polen Capital's ETF Expansion: Polen Capital has launched two new ETFs, the Polen Floating Rate Income ETF (PCFI) and the Polen High Income ETF (PCHI), aimed at providing investors with income-generating options amidst inflation and market volatility.

Investment Strategies: PCFI focuses on high current income through senior secured floating-rate loans, while PCHI employs a disciplined approach to capitalize on opportunities in high-yield bonds and leveraged loans, both contributing to Polen Capital's growing ETF portfolio now managing nearly $200 million in assets.