Polen Capital Management, LLC on Eli Lilly and Company
Thesis
Polen remains positive on Eli Lilly and continues to own a meaningful stake following a trim. The investment case centers on the company’s portfolio of incretin-based therapies, including GLP-1 medicines. Trimming was intended to return the position to a more typical portfolio weight and release funds for Seagate, rather than signal a change in the business outlook. The manager continues to see durable pharmaceutical growth potential.
“We remain positive on the company’s outlook and still hold a meaningful position in the Portfolio.”
Key risks
- Position concentration prompted a reduction to a typical weight
- Valuation discipline remains important for businesses with future earnings expectations