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Potential Risk of Business Slowdown Drove Polen Global Growth Strategy to Trim Airbnb (ABNB)

Polen Capital, an investment management company, released its “Polen Global Growth Strategy” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. Over the past two years, global equities (2023-2024) showed a historic +45% cumulative return as per the MSCI ACWI Index (the "Index"), emphasizing market unpredictability and the futility of macroeconomic projections. The Strategy returned 2.58% gross (2.27% net) in the quarter compared to the MSCI ACW Index’s -0.99% return. In addition, please check the fund’s top five holdings to know its best picks in...