Thought Capital

Q4 Fireside Chat with Focus Growth’s Dan Davidowitz

Quarter-end update discussing factors that impacted the Focus Growth Portfolio & what long-term opportunities may lie ahead

Dan Davidowitz, CFA, Stephen Atkins, CFA

In this Q4 webinar, Polen Focus Growth Portfolio Manager Dan Davidowitz covers the factors that impacted the Focus Growth Portfolio in 2023. He shares thoughts on geopolitical issues, portfolio top contributors and detractors, and why he is optimistic for the year ahead. 

Read the full Focus Growth Commentary 

Webinar Chapters

  • 0:42 - Reflections on 2023 Portfolio Earnings Growth and Global Equity Markets
  • 3:25 - Portfolio Management Team Announcements
  • 4:45 - Businesses That Worked / Did Not Work for Us in 2023
  • 8:50 - Recent Portfolio Trades: Microsoft & Netflix
  • 14:00 - 2023 Lessons Learned 
  • 17:35 - Why We Don’t Own Nvidia 
  • 22:15 - Our Approach: High-Quality Companies That Fall on Hard Times
  • 24:45 - Regulatory Environment: How Antitrust Regulations May Impact Companies We Own
  • 28:05 - Sell Discipline
  • 31:15 - Perspective on Aerospace & Defense Stocks
  • 33:30 - Airbnb & PayPal Positions
  • 37:40 - 2024 Outlook: The Fed & Consumer Spending Environment
  • 42:05 - Geopolitical Issues and Potential Market Effects
  • 44:45 - Portfolio Weighting & Growth Comparisons
  • 50:40 - Generative AI: Opportunity & Risk 

We think and act like we own entire businesses, even though we only own small parts on behalf of our clients. And so that gives us the opportunity to be patient and look through short-term noise.

Dan_Davidowitz
Dan Davidowitz, CFA
Focus Growth Portfolio Manager

Important Disclosures

This is being provided for informational purposes only. Opinions and views expressed constitute the judgment of Polen Capital as of January 17th, 2024 may involve a number of assumptions and estimates which are not guaranteed, and are subject to change without notice. Although the information and any opinions or views given have been obtained from or based on sources believed to be reliable, no warranty or representation is made as to their correctness, completeness, or accuracy. Opinions, estimates, forecasts, and statements of financial market trends that are based on current market conditions constitute our judgment and are subject to change without notice, including any forward-looking estimates or statements which are based on certain expectations and assumptions. The views and strategies described may not be suitable for all clients. References to specific securities, asset classes and financial markets are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations. This document does not identify all the risks (direct or indirect) or other considerations which might be material when entering any financial transaction.

Past performance is not indicative of future results and profitable results cannot be guaranteed. This information should not be construed as a recommendation to purchase, hold, or sell any particular security. Specific securities described may or may not be held in portfolios managed by Polen Capital. There is no assurance that any securities discussed herein will be in the portfolio at the time you review this video or that any securities sold have not been repurchased. The securities discussed do not necessarily represent the entire portfolio. It should not be assumed that any of the securities, transactions or holdings discussed were or will prove to be profitable or that any investment recommendations we make in the future will equal the investment performance of the securities discussed herein. For a complete list of Polen Capital’s past specific recommendations for the last year, please contact [email protected]