Polaris Capital Management, LLC

CIK 1316926 · View on SEC EDGAR ↗

Portfolio value: $1.1B
Positions: 84
As of: June 30, 2026

Portfolio value QoQ: -13.2% 13F does not disclose cash

Top 10 holdings weight: 47.74%
Top 25 holdings weight: 76.74%
Positions above 1%: 33
Effective number of positions: 29.0

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 7.68% Est. buys $87,658,997 · sells $391,233,086

Median holding: 6.0 quarters Tracked Q4 2024–Q2 2026 · 68.9% still held

New positions: 7
Increased: 24
Decreased: 42
Closed: 7

On this page

Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
Sector breakdown How the portfolio splits across market sectors.
Portfolio Every stock this institution reports holding, from its latest 13F.
High-conviction bets The holdings this manager is most concentrated in.
Biggest new bets Brand-new positions opened in the latest quarter.
Top moves The biggest position increases and decreases this quarter.
Exited positions Positions the manager fully sold out of last quarter.

Performance vs S&P 500

Tracked Q4 2024–Q2 2026

+37.9%

S&P 500 total return (same window)

+28.1%

Excess return

+9.9%

Annualized: +24.0% · S&P 500: +18.0%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 97.2% · Options excluded: 0.0%

Sector breakdown

Healthcare

26.0%

Financials

25.4%

Industrials

10.3%

Materials

7.3%

Packaging

7.1%

Consumer Staples

5.4%

Energy

4.3%

Consumer Discretionary

2.9%

Financial Services

2.8%

Real Estate

2.2%

Utilities

1.9%

Technology

1.7%

Retail

0.6%

Diversified Consumer Services

0.4%

Other/Unmapped

1.6%

Full portfolio 84 positions

					Streak
BPOP Popular, Inc. - Common Stock	$86,890,787	8.19%	529,241	$-68,815	Down ×6
JAZZ Jazz Pharmaceuticals plc - Ordinary Shares	$79,270,937	7.47%	328,966	$745,995	Down ×6
SW Smurfit WestRock plc Ordinary Shares	$75,672,201	7.13%	1,635,802	$21,215,184	Up ×1
LIN Linde plc - Ordinary Shares	$51,746,621	4.88%	99,716	$-10,016,647	Down ×3
LNTH Lantheus Holdings, Inc. - Common Stock	$47,094,030	4.44%	424,500	$294,580	Down ×1
ARW Arrow Electronics, Inc. Common Stock	$41,764,337	3.93%	195,700	$662,601	Down ×3
CVS CVS Health Corporation Common Stock	$37,779,940	3.56%	365,200	$598,726	Down ×3
JPM JP Morgan Chase & Co. Common Stock	$29,554,953	2.78%	90,291	$-5,024,143	Down ×1
UTHR United Therapeutics Corporation - Common Stock	$28,960,814	2.73%	53,450	$-28,350,703	Down ×5
SLM SLM Corporation - Common Stock	$27,955,538	2.63%	1,077,700	$-2,641,493	Down ×1
IBOC International Bancshares Corporation - Common Stock	$24,387,545	2.30%	321,100	$-6,767,994	Down ×6
MPC Marathon Petroleum Corporation Common Stock	$23,900,543	2.25%	93,482	$-14,150,515	Down ×3
EMN Eastman Chemical Company Common Stock	$22,793,294	2.15%	340,300	$-13,199,218	Down ×1
CYTK Cytokinetics, Incorporated - Common Stock	$22,737,211	2.14%	266,900		Up ×1
INGR Ingredion Incorporated Common Stock	$21,432,873	2.02%	226,300	$-4,433,863	Down ×1
WBS Webster Financial Corporation Common Stock	$21,133,034	1.99%	276,538	$-13,035,559	Down ×6
CFR Cullen/Frost Bankers, Inc. Common Stock	$20,597,516	1.94%	133,300	$-7,366,804	Down ×6
BKNG Booking Holdings Inc. - Common Stock	$19,964,662	1.88%	112,010		Up ×1
NOMD Nomad Foods Limited Ordinary Shares	$19,529,325	1.84%	1,783,500	$-678,583	Down ×3
GILD Gilead Sciences, Inc. - Common Stock	$19,367,922	1.82%	153,300	$-15,781,192	Down ×6
CB Chubb Limited Common Stock	$18,753,648	1.77%	55,038	$-9,447,445	Down ×3
ALSN Allison Transmission Holdings, Inc. Common Stock	$18,590,826	1.75%	164,900	$-11,680,890	Down ×6
WMB Williams Companies, Inc. (The) Common Stock	$18,495,792	1.74%	248,800	$-10,536,150	Down ×6
MTB M&T Bank Corporation Common Stock	$18,183,964	1.71%	76,400	$-7,158,668	Down ×6
ABBV AbbVie Inc. Common Stock	$17,932,873	1.69%	71,264	$-7,443,208	Down ×6
NEE NextEra Energy, Inc. Common Stock	$17,725,766	1.67%	201,957	$-9,365,101	Down ×6
GD General Dynamics Corporation Common Stock	$17,686,140	1.67%	49,927	$-12,295,500	Down ×6
ELV Elevance Health, Inc. Common Stock	$16,948,056	1.60%	43,824	$-4,024,847	Down ×3
ADBE Adobe Inc. - Common Stock	$16,852,644	1.59%	82,200		Up ×1
TSN Tyson Foods, Inc. Common Stock	$16,510,900	1.56%	288,400	$-12,406,966	Down ×3
GLPI Gaming and Leisure Properties, Inc. - Common Stock	$14,922,003	1.41%	335,100	$-9,051,108	Down ×1
Unknown issuer (CUSIP: 14040h105)	$14,288,156	1.35%	71,220	$-6,443,919	Down ×6
LKQ LKQ Corporation - Common Stock	$11,079,664	1.04%	420,800	$-8,980,046	Down ×2
NBN Northeast Bank - Common Stock	$6,069,874	0.57%	45,800	$833,432	Down ×5
SPFI South Plains Financial, Inc. - Common Stock	$5,428,710	0.51%	126,000	$677,250	Up ×1
HTB HomeTrust Bancshares, Inc. Common Stock	$5,373,153	0.51%	107,700	$894,903	Up ×1
OFG OFG Bancorp Common Stock	$5,304,467	0.50%	108,100	$934,787	Up ×1
CBK Commercial Bancgroup, Inc. - Common Stock	$3,070,779	0.29%	95,100	$1,238,971	Up ×1
PEBO Peoples Bancorp Inc. - Common Stock	$3,065,118	0.29%	79,800	$938,429	Up ×1
BFST Business First Bancshares, Inc. - Common Stock	$3,017,686	0.28%	98,200	$789,590	Up ×1
BHB	$3,017,024	0.28%	79,900	$745,524	Up ×1
CVLG Covenant Logistics Group, Inc. Class A Common Stock	$2,972,519	0.28%	67,282	$896,033	Down ×1
CHCO City Holding Company - Common Stock	$2,957,209	0.28%	22,295	$674,975	Up ×1
INDB Independent Bank Corp. - Common Stock	$2,950,209	0.28%	35,239	$510,472	Up ×1
SSB SouthState Bank Corporation Common Stock	$2,913,184	0.27%	29,161		Up ×1
AYI Acuity Inc. Common Stock	$2,711,952	0.26%	7,200	$974,588	Up ×2
AVT Avnet, Inc. - Common Stock	$2,602,426	0.25%	29,300	$618,262	Down ×2
NTB Bank of N.T. Butterfield & Son Limited (The) Voting Ordinary Shares	$2,600,150	0.24%	43,700	$207,062	Down ×1
NTST NetSTREIT Corp. Common Stock	$2,506,018	0.24%	118,600	$474,261	Up ×1
SBSI Southside Bancshares, Inc. Common Stock	$2,468,860	0.23%	70,158	$511,931	Up ×3
VVX V2X, Inc. Common Stock	$2,460,480	0.23%	33,000	$117,780	Down ×1
AIT Applied Industrial Technologies, Inc. Common Stock	$2,434,680	0.23%	7,200	$418,248	Down ×1
BOKF BOK Financial Corporation - Common Stock	$2,411,512	0.23%	17,364	$85,430	Down ×1
CBT Cabot Corporation Common Stock	$2,386,114	0.22%	26,273	$241,812	Down ×1
PLUS ePlus inc. - Common Stock	$2,305,471	0.22%	27,700	$221,046
NMIH NMI Holdings Inc - Common Stock	$2,288,713	0.22%	55,700	$454,474	Up ×2
IMKTA Ingles Markets, Incorporated - Class A Common Stock	$2,283,858	0.22%	25,783	$-141,644	Down ×2
LAUR Laureate Education, Inc. - Common Stock	$2,233,680	0.21%	61,500	$-267,832	Down ×1
EBF Ennis, Inc. Common Stock	$2,233,375	0.21%	105,100	$-17,867
BKH Black Hills Corporation Common Stock	$2,217,120	0.21%	29,800	$-121,997	Down ×1
SBRA Sabra Health Care REIT, Inc. - Common Stock	$2,200,728	0.21%	112,800	$181,578	Up ×2
PECO Phillips Edison & Company, Inc. - Common Stock	$2,189,212	0.21%	52,600	$187,242	Down ×2
EXP Eagle Materials Inc Common Stock	$2,160,000	0.20%	9,600	$473,895	Up ×2
EPRT Essential Properties Realty Trust, Inc. Common Stock	$2,041,740	0.19%	68,400	$122,988	Up ×2
CSL Carlisle Companies Incorporated Common Stock	$2,011,086	0.19%	5,544	$367,674	Up ×3
BKE Buckle, Inc. (The) Common Stock	$1,965,803	0.19%	46,583	$168,807	Up ×3
PRDO Perdoceo Education Corporation - Common Stock	$1,939,200	0.18%	60,600	$-315,726
BBSI Barrett Business Services, Inc. - Common Stock	$1,921,632	0.18%	54,100	$1,022,888	Up ×1
ITRI Itron, Inc. - Common Stock	$1,920,966	0.18%	22,200		Up ×1
FANG Diamondback Energy, Inc. - Common Stock	$1,875,573	0.18%	10,670	$-234,846
CVI CVR Energy Inc. Common Stock	$1,845,180	0.17%	67,000	$-409,370
HNI HNI Corporation Common Stock	$1,798,245	0.17%	44,500	$482,679	Up ×1
BDC Belden Inc Common Stock	$1,750,686	0.16%	14,600		Up ×1
DNOW DNOW Inc. Common Stock	$1,691,288	0.16%	130,400	$250,178	Up ×2
PDD PDD Holdings Inc. - American Depositary Shares	$1,632,392	0.15%	21,400	$242,744	Up ×2
EXEL Exelixis, Inc. - Common Stock	$1,430,983	0.13%	26,300	$302,976
HRMY Harmony Biosciences Holdings, Inc. - Common Stock	$1,314,401	0.12%	36,100	$303,240
AVBC Avidia Bancorp, Inc. Common Stock	$1,313,974	0.12%	62,600	$527,174	Up ×1
ANIP ANI Pharmaceuticals, Inc. - Common Stock	$1,291,368	0.12%	15,600	$91,728
SUPN Supernus Pharmaceuticals, Inc. - Common Stock	$1,046,475	0.10%	22,500	$-116,550
AUGO Aura Minerals Inc. - Common Shares	$975,725	0.09%	15,500		Up ×1
AMPH Amphastar Pharmaceuticals, Inc. - Common Stock	$872,422	0.08%	43,232	$25,507
PRGS Progress Software Corporation - Common Stock	$785,772	0.07%	23,400	$185,562
BAP Credicorp Ltd. Common Stock	$662,286	0.06%	1,700	$-16,074	Down ×3
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
SBSI	$2,468,860	0.23%	up ×3
CSL	$2,011,086	0.19%	up ×3
BKE	$1,965,803	0.19%	up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
CYTK	$22,737,211	266,900	2.14%
BKNG	$19,964,662	112,010	1.88%
ADBE	$16,852,644	82,200	1.59%
SSB	$2,913,184	29,161	0.27%
ITRI	$1,920,966	22,200	0.18%
BDC	$1,750,686	14,600	0.16%
AUGO	$975,725	15,500	0.09%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
UTHR	Trimmed	-43K	-$28.4M
SW	Bought more	+269K	+$21.2M
GILD	Trimmed	-99K	-$15.8M
MPC	Trimmed	-62K	-$14.2M
EMN	Trimmed	-131K	-$13.2M
WBS	Trimmed	-216K	-$13.0M
TSN	Trimmed	-163K	-$12.4M
GD	Trimmed	-37K	-$12.3M
ALSN	Trimmed	-94K	-$11.7M
WMB	Trimmed	-150K	-$10.5M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
VIPS	Dec. 31, 2025	5,068,000	$99,535,520	-19.0%
TGLS	Sept. 30, 2025	625,464	$48,385,895	-39.0%
MSFT	March 31, 2025	94,826	$39,969,159	28.4%
NTRS	March 31, 2025	383,800	$39,339,500	88.2%
CG	Dec. 31, 2025	578,600	$36,278,220	-17.4%
CROX	Sept. 30, 2025	329,901	$33,412,373	48.5%
IPG	March 31, 2025	1,105,800	$30,984,516	No longer tracked
MKSI	June 30, 2026	134,700	$30,955,407	-36.3%
SAIC	Sept. 30, 2025	237,500	$26,744,875	27.8%
SBH	March 31, 2026	1,747,829	$24,924,042	18.8%
NOV	Sept. 30, 2025	1,303,660	$16,204,494	54.7%
UNH	March 31, 2026	44,712	$14,759,878	43.1%
DCOM	March 31, 2025	397,680	$12,222,695	46.1%
EBC	March 31, 2025	654,366	$11,287,814	39.5%
PFC	March 31, 2025	357,483	$9,140,840	No longer tracked
SSBXXXX	June 30, 2026	25,761	$2,383,408	No longer tracked
CBAN	Dec. 31, 2025	122,079	$2,076,564	20.7%
EVTC	March 31, 2026	64,700	$1,882,123	5.4%
AL	Sept. 30, 2025	32,000	$1,871,680	No longer tracked
CSGS	Dec. 31, 2025	29,000	$1,867,020	No longer tracked
ANF	March 31, 2026	14,400	$1,812,528	18.0%
HEES	March 31, 2025	37,000	$1,811,520	No longer tracked
AEO	March 31, 2026	54,900	$1,447,713	-2.2%
WNC	June 30, 2026	158,070	$1,362,563	-11.0%
KNX	March 31, 2025	23,494	$1,246,122	63.0%
WGO	June 30, 2026	38,067	$1,179,696	4.1%
FSEA	June 30, 2026	90,537	$1,137,145	1.3%
TBRG	March 31, 2025	57,000	$1,124,040	No longer tracked
CW	March 31, 2025	2,800	$993,636	105.8%
RRX	Sept. 30, 2025	6,789	$984,133	17.9%
MMS	March 31, 2026	10,900	$940,888	-9.7%
GPK	March 31, 2026	58,700	$884,022	17.5%
GMREXXXX	June 30, 2025	76,600	$670,250	No longer tracked
KFRC	June 30, 2026	16,557	$484,127	23.9%
EEFT	June 30, 2026	4,500	$298,665	-5.3%
KE	June 30, 2025	15,500	$254,975	23.0%
CFSB	June 30, 2025	24,300	$185,409	No longer tracked