Polaris Capital Management, LLC

Registered adviser

CIK

1316926

Location

BOSTON, MA

Portfolio Value

Small $947,935,776

Diversification

Diversified

Reports for

PEAR TREE ADVISORS INC

Filing Date

Global Rank

#2,436 / 8,818 ▼ 403 · as of Jun 2026

Top Industry

Banks - Regional 18.6%

Period ended 28 days ago

Filed Oct 21, 2026 · 7d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 106278

Roster of Oct 1, 2026

Regulatory AUM

$5,452,307,694

Main clients

Registered funds and BDCs (50% of AUM)

Private funds

3 funds · Other private funds

Focus by fund count, roster of Oct 1, 2026

$200,264,784 gross assets

Registered funds advised

1 series (0 index, 0 ETFs)

$433,121,532 net assets· N-CEN Dec 31, 2025

LEI

213800S3KTWVNRTWA706

Private funds on Schedule D 7.B.(1)

As filed Mar 28, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$229,937,445 gross assets in 3 funds Other private funds $229,937,445 (3)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Feb 2026 to Oct 2026	$5,452,307,694	Registered funds and BDCs (50%)
Apr 2025 to Jan 2026	$8,901,029,329	Registered funds and BDCs (51%)
Apr 2024 to Mar 2025	$11,775,149,425	Diversified
May 2023 to Mar 2024	$12,425,022,064	Diversified
Apr 2023	$12,425,022,064	Diversified
Mar 2022 to Mar 2023	$16,198,252,799	Diversified

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 48.0%, 28.7 effective positions, active share 94.7% against the S&P MidCap 400 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

20.3% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 17.8 quarters (12+), a floor since 36.4% of the book was already held when coverage starts

Closest benchmark: the S&P MidCap 400 as of 2026-06-30, active share 94.7%; sector active share 48.8% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

85 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

8.3%

+0.1 pts

Top 5

32.5%

+0.2 pts

Top 10

49.2%

+1.2 pts

HHI

355

Diversified+6

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	27.8%	$263,416,466	25
Healthcare	26.7%	$252,786,173	14
Consumer Cyclical	11.9%	$112,494,508	7
Technology	9.2%	$87,266,232	8
Basic Materials	7.2%	$68,131,228	5
Energy	5.7%	$54,456,138	4
Consumer Defensive	5.0%	$47,809,572	6
Industrials	3.4%	$31,919,640	9
Utilities	1.8%	$16,658,285	2
Real Estate	1.4%	$12,997,534	5

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

7 positions

Ticker	Company	Δ Shares	Shares	Value
CYTK	Cytokinetics Inc	+79,200	346,100	$22,811,451
PDD	PDD Holdings Inc.	+13,600	35,000	$2,727,900
BBSI	Barrett Business Services Inc	+4,000	58,100	$1,758,106
AUGO	Aura Minerals Inc.	+2,700	18,200	$1,431,976
BKH	Black Hills Corp	+1,200	31,000	$2,172,480
BDC	Belden Inc.	+500	15,100	$1,629,743
LIN	Linde PLC	+100	99,816	$47,377,664
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
NOMD	Nomad Foods Ltd	−1,109,300	674,200	$6,964,486
LKQ	Lkq Corp	−161,200	259,600	$5,926,668
SW	Smurfit Westrock plc	−145,600	1,490,202	$65,717,908
GLPI	Gaming & Leisure Properties, Inc.	−130,100	205,000	$7,783,850
EMN	Eastman Chemical Co	−95,000	245,300	$15,905,252
SBRA	Sabra Health Care REIT, Inc.	−52,300	60,500	$1,193,060
SLM	SLM Corp	−46,900	1,030,800	$23,327,004
NTST	NETSTREIT Corp.	−39,200	79,400	$1,403,792
LNTH	Lantheus Holdings, Inc.	−28,600	395,900	$39,403,927
EPRT	Essential Properties Realty Trust, Inc.	−23,000	45,400	$1,171,774
BPOP	Popular, Inc.	−22,300	506,941	$78,803,978
CVS	CVS HEALTH Corp	−19,600	345,600	$29,614,464
WMB	Williams Companies, Inc.	−18,600	230,200	$15,646,694
IBOC	International Bancshares Corp	−15,700	305,400	$20,919,900
TSN	Tyson Foods, Inc.	−15,200	273,200	$13,804,796
CVI	Cvr Energy Inc	−15,000	52,000	$2,651,480
PECO	Phillips Edison & Company, Inc.	−13,900	38,700	$1,445,058
DNOW	DNOW Inc.	−12,400	118,000	$1,829,000
ARW	Arrow Electronics, Inc.	−11,500	184,200	$41,813,400
BKE	Buckle Inc	−11,500	35,083	$1,506,814
NEE	Nextera Energy Inc	−10,700	191,257	$14,485,805
CVLG	Covenant Logistics Group, Inc.	−10,100	57,182	$1,848,122
PRDO	PERDOCEO EDUCATION Corp	−10,100	50,500	$1,562,470
ALSN	Allison Transmission Holdings Inc	−9,300	155,600	$17,623,256
JAZZ	Jazz Pharmaceuticals plc	−8,500	320,466	$74,194,288
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
REGN	Regeneron Pharmaceuticals, Inc.	25,040	$18,987,080
G	Genpact LTD	541,200	$17,605,236
WAY	Waystar Holding Corp.	93,500	$2,369,290
LMB	Limbach Holdings, Inc.	45,600	$2,231,208
HCI	HCI Group, Inc.	7,000	$1,216,740
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
—		276,538	$21,133,033
GILD	Gilead Sciences, Inc.	153,300	$19,367,922
EBF	Ennis, Inc.	105,100	$2,233,375
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

85 tracked positions · $947,935,776 total · filing declares 86 positions · $953,424,763 · as of Sep 30, 2026

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 85 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BPOP	Popular, Inc. Financial Services	Reduced	506,941	-22,300	$78,803,978	−9.3%	8.31%
JAZZ	Jazz Pharmaceuticals plc Healthcare	Reduced	320,466	-8,500	$74,194,288	−6.4%	7.83%
SW	Smurfit Westrock plc Consumer Cyclical	Reduced	1,490,202	-145,600	$65,717,908	−13.2%	6.93%
LIN	Linde PLC Basic Materials	Added	99,816	+100	$47,377,664	−8.4%	5.00%
ARW	Arrow Electronics, Inc. Technology	Reduced	184,200	-11,500	$41,813,400	+0.1%	4.41%
LNTH	Lantheus Holdings, Inc. Healthcare	Reduced	395,900	-28,600	$39,403,927	−16.3%	4.16%
MPC	Marathon Petroleum Corp Energy	Reduced	86,482	-7,000	$34,196,712	+43.1%	3.61%
CVS	CVS HEALTH Corp Healthcare	Reduced	345,600	-19,600	$29,614,464	−21.6%	3.12%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	86,391	-3,900	$28,580,734	−3.3%	3.02%
UTHR	UNITED THERAPEUTICS Corp Healthcare	Reduced	48,950	-4,500	$26,525,515	−8.4%	2.80%
SLM	SLM Corp Financial Services	Reduced	1,030,800	-46,900	$23,327,004	−16.6%	2.46%
CYTK	Cytokinetics Inc Healthcare	Added	346,100	+79,200	$22,811,451	+0.3%	2.41%
INGR	Ingredion Inc Consumer Defensive	Reduced	218,600	-7,700	$20,944,066	−2.3%	2.21%
IBOC	International Bancshares Corp Financial Services	Reduced	305,400	-15,700	$20,919,900	−14.2%	2.21%
CFR	Cullen/Frost Bankers, Inc. Financial Services	Reduced	125,300	-8,000	$19,129,551	−7.1%	2.02%
REGN	Regeneron Pharmaceuticals, Inc. Healthcare	NEW	25,040	NEW	$18,987,080	NEW	2.00%
ADBE	Adobe Inc. Technology	Reduced	76,160	-6,040	$18,273,830	+8.4%	1.93%
ALSN	Allison Transmission Holdings Inc Consumer Cyclical	Reduced	155,600	-9,300	$17,623,256	−5.2%	1.86%
G	Genpact LTD Technology	NEW	541,200	NEW	$17,605,236	NEW	1.86%
ABBV	AbbVie Inc. Healthcare	Reduced	66,394	-4,870	$17,368,006	−3.1%	1.83%
BKNG	Booking Holdings Inc. Consumer Cyclical	Reduced	104,200	-7,810	$16,975,222	−15.0%	1.79%
CB	Chubb Ltd Financial Services	Reduced	51,458	-3,580	$16,736,714	−10.8%	1.77%
ELV	Elevance Health, Inc. Healthcare	Reduced	41,124	-2,700	$15,989,833	−5.7%	1.69%
EMN	Eastman Chemical Co Basic Materials	Reduced	245,300	-95,000	$15,905,252	−30.2%	1.68%
GD	General Dynamics Corp Industrials	Reduced	47,227	-2,700	$15,671,335	−11.4%	1.65%
WMB	Williams Companies, Inc. Energy	Reduced	230,200	-18,600	$15,646,694	−15.4%	1.65%
MTB	M&T Bank Corp Financial Services	Reduced	70,900	-5,500	$15,427,840	−15.2%	1.63%
NEE	Nextera Energy Inc Utilities	Reduced	191,257	-10,700	$14,485,805	−18.3%	1.53%
TSN	Tyson Foods, Inc. Consumer Defensive	Reduced	273,200	-15,200	$13,804,796	−16.4%	1.46%
COF	Capital One Financial Corp Financial Services	Reduced	67,720	-3,500	$13,074,700	−8.5%	1.38%
GLPI	Gaming & Leisure Properties, Inc. Real Estate	Reduced	205,000	-130,100	$7,783,850	−47.8%	0.82%
NOMD	Nomad Foods Ltd Consumer Defensive	Reduced	674,200	-1,109,300	$6,964,486	−64.3%	0.73%
LKQ	Lkq Corp Consumer Cyclical	Reduced	259,600	-161,200	$5,926,668	−46.5%	0.63%
OFG	Ofg Bancorp Financial Services	Reduced	107,500	-600	$5,383,600	+1.5%	0.57%
SPFI	South Plains Financial, Inc. Financial Services	Reduced	121,000	-5,000	$5,049,330	−7.0%	0.53%
HTB	HomeTrust Bancshares, Inc. Financial Services	Reduced	103,200	-4,500	$4,723,464	−12.1%	0.50%
CHCO	City Holding Co Financial Services	Held	22,295	0	$3,101,680	+4.9%	0.33%
BHB	Bar Harbor Bankshares Financial Services	Held	79,900	0	$3,091,331	+2.5%	0.33%
BFST	Business First Bancshares, Inc. Financial Services	Held	98,200	0	$2,954,838	−2.1%	0.31%
CBK	Commercial Bancgroup, Inc. Financial Services	Reduced	93,900	-1,200	$2,943,765	−4.1%	0.31%
PEBO	Peoples Bancorp Inc Financial Services	Held	79,800	0	$2,919,882	−4.7%	0.31%
SSB	SouthState Bank Corp Financial Services	Held	29,161	0	$2,903,269	−0.3%	0.31%
INDB	Independent Bank Corp Financial Services	Held	35,239	0	$2,736,308	−7.3%	0.29%
PDD	PDD Holdings Inc. Consumer Cyclical	Added	35,000	+13,600	$2,727,900	+67.1%	0.29%
CVI	Cvr Energy Inc Energy	Reduced	52,000	-15,000	$2,651,480	+43.7%	0.28%
AVT	Avnet Inc Technology	Reduced	26,000	-3,300	$2,598,700	−0.1%	0.27%
PLUS	Eplus Inc Technology	Held	27,700	0	$2,493,277	+8.1%	0.26%
AIT	Applied Industrial Technologies Inc Industrials	Held	7,200	0	$2,392,488	−1.7%	0.25%
WAY	Waystar Holding Corp. Healthcare	NEW	93,500	NEW	$2,369,290	NEW	0.25%
LAUR	Laureate Education, Inc. Consumer Defensive	Held	61,500	0	$2,346,840	+5.1%	0.25%

Showing the top 50 of 85 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.