- Polen Capital is a high-conviction growth investment manager. We scour the globe in search of the highest quality, sustainable companies to invest in.
- During the first quarter of 2022, the Polen Focus Growth Composite Portfolio returned -13.39% and -13.56%, gross and net of fees, respectively.
- Though most of the Portfolio companies released solid earnings results, somewhat elevated valuations, rising interest rates, the invasion of Ukraine, and a general “risk-off” mentality created a very difficult start to the year for our style of investing, in our view.
- Our largest absolutedetractors in the quarter, like Meta Platforms and Netflix, currently have negative narratives attached to them,but we believe these narrativesand share prices have been disconnected from actual data and the underlying companyfundamentals.
- Zoetis was also a top absolute detractor in the quarter while Airbnb, Visa, and UnitedHealth Group were the top absolute contributors.
For further details see:
Polen Focus Growth Q1 2022 Portfolio Manager Commentary