Data compiled by Woofun AI shows that asset management firm Polen has experienced a severe contraction in assets under management, dropping by nearly $50 billion to approximately $33 billion over a four-year period. This 60% decline serves as a stark illustration of how excluding a dominant market leader during the artificial intelligence boom can fundamentally alter an institution's trajectory. The firm's six equity mutual funds rely on concentrated strategies, with its flagship Polen Growth Fund holding fewer than 30 stocks, primarily in the software sector.

The fund deliberately avoided NVIDIA (NVDA.O), favoring software entities such as Adobe (ADBE.O), Salesforce (CRM.N), and ServiceNow (NOW.N). In a June 2023 client letter, Polen stated: 'We believe that almost all of the upside opportunity we can currently see for the company is already priced into the market.' Consequently, while NVIDIA's stock price surged nearly 400%, an index tracking cloud software companies retreated by 3%. It was not until late 2025 that Polen reversed its position, acknowledging its previous bearish stance on AI chips as a misjudgment and initiating purchases of related equities.