In a notable move, Polen Capital Management reduced its holding in cloud software company ServiceNow (NOW) by 26.13% during the second quarter of 2026. The asset manager sold approximately 1.9 million shares, decreasing its total stake to 5.37 million. At the end of the reporting period, this remaining position was valued at $533.15 million.
This activity was revealed in a quarterly 13F filing with the SEC, which discloses trades made between April 1 and June 30, 2026. During that period, ServiceNow reported strong Q2 results, beating earnings estimates and raising its full-year revenue guidance, driven by accelerating AI-related contract value. The large stock sale resulted in ServiceNow's weight in Polen Capital's portfolio decreasing from 5.26% to 4.59%.