In its latest 13F filing, Polen Capital Management reported a 27.3% reduction in its stake in semiconductor giant Broadcom (AVGO). The firm sold approximately 740,000 shares, bringing its total position down to 1.96 million shares valued at $740.5 million. It is important to note that 13F filings are delayed disclosures, and this activity reflects trades that occurred during the second quarter ending June 30, 2026.
Despite the significant share sale, the portfolio weight of Broadcom in Polen's fund actually increased from 5.78% to 6.38%. This suggests the stock's price performed strongly relative to other holdings during the quarter. Broadcom reported record revenue for its second quarter, driven by a 143% year-over-year increase in AI-related semiconductor sales. The company also issued strong guidance, forecasting 84% year-over-year revenue growth for the third quarter.