In a notable portfolio adjustment, Polen Capital Management reduced its significant stake in pharmaceutical giant Eli Lilly & Co. (LLY) by 27.08% during the second quarter of 2026. According to its quarterly disclosure with the SEC, the firm sold approximately 247,650 shares, bringing its total holding down to 666,910 shares. This information, filed on August 4, 2026, reflects trades executed in the quarter ending June 30.
Despite the large share reduction, the reported value of Polen Capital's position only decreased slightly from $841.18 million to $799.91 million. Due to a substantial rise in Eli Lilly's stock price, the security's weight within the investment manager's portfolio actually increased from 5.82% to 6.89%, solidifying its position as the firm's top holding. Eli Lilly posted strong Q2 results, with revenues jumping 48% year-over-year, driven by high demand for its Mounjaro and Zepbound treatments.