Polaris Capital Management, LLC

CIK

1316926

Location

BOSTON, MA

Portfolio Value

Mid $1,214,570,138

Diversification

Diversified

Filing Date

Global Rank

#1,580 / 8,603 ▲ 56 · as of Mar 2026

Top Industry

Banks - Regional 19.7%

3Y Alpha vs SPY

-0.1%

Period ended 3 months ago

Filed Apr 27, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+75.5%

SPY

+76.5%

Annualised alpha

-0.2%

Max drawdown

−17.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

82 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.2%

+0.1 pts

Top 5

27.9%

+1.0 pts

Top 10

44.3%

+1.5 pts

HHI

329

Diversified+13

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	29.4%	$357,592,073	25
Healthcare	25.2%	$306,663,966	12
Consumer Cyclical	9.1%	$110,470,348	7
Basic Materials	8.4%	$101,586,186	4
Consumer Defensive	6.8%	$82,174,449	6
Technology	6.3%	$77,024,607	6
Energy	5.9%	$71,447,968	4
Industrials	3.8%	$46,235,818	11
Real Estate	2.6%	$31,944,740	5
Utilities	2.4%	$29,429,983	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

24 positions

Ticker	Company	Δ Shares	Shares	Value
SLM	SLM Corp	+183,500	1,429,100	$30,597,031
LNTH	Lantheus Holdings, Inc.	+79,000	617,000	$46,799,450
GLPI	Gaming & Leisure Properties, Inc.	+35,000	540,300	$23,973,111
NMIH	NMI Holdings, Inc.	+28,500	48,900	$1,834,239
CVLG	Covenant Logistics Group, Inc.	+19,800	76,482	$2,076,486
WNC	WABASH NATIONAL Corp	+13,400	158,070	$1,362,563
DNOW	DNOW Inc.	+13,200	121,000	$1,441,110
BKE	Buckle Inc	+10,683	35,683	$1,796,995
WGO	Winnebago Industries Inc	+8,000	38,067	$1,179,696
PDD	PDD Holdings Inc.	+7,900	13,600	$1,389,648
INGR	Ingredion Inc	+7,900	229,600	$25,866,736
AMPH	Amphastar Pharmaceuticals, Inc.	+7,700	43,232	$846,914
ANIP	Ani Pharmaceuticals Inc	+5,900	15,600	$1,199,640
CBT	Cabot Corp	+4,700	28,473	$2,144,301
SBRA	Sabra Health Care REIT, Inc.	+3,600	105,000	$2,019,150
EPRT	Essential Properties Realty Trust, Inc.	+2,500	63,200	$1,918,752
EXP	Eagle Materials Inc	+1,900	8,900	$1,686,105
PLUS	Eplus Inc	+1,600	27,700	$2,084,425
AYI	Acuity Inc. (De)	+1,500	6,200	$1,737,364
CSL	Carlisle Companies Inc	+1,414	4,926	$1,643,412
SBSI	Southside Bancshares Inc	+717	62,944	$1,956,928
AIT	Applied Industrial Technologies Inc	+600	7,600	$2,016,432
VVX	V2X, Inc.	+400	34,200	$2,342,700
JPM	Jpmorgan Chase & Co	+297	117,552	$34,579,096
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
NOMD	Nomad Foods Ltd	−226,800	2,102,800	$20,207,908
MKSI	Mks Inc	−130,400	134,700	$30,955,407
SW	Smurfit Westrock plc	−81,100	1,366,550	$54,457,017
BPOP	Popular, Inc.	−34,200	648,130	$86,959,602
LKQ	Lkq Corp	−24,500	683,000	$20,059,710
WBS	Webster Financial Corp	−24,000	492,201	$34,168,593
TSN	Tyson Foods, Inc.	−20,900	451,348	$28,917,866
NEE	Nextera Energy Inc	−17,600	291,676	$27,090,866
JAZZ	Jazz Pharmaceuticals plc	−17,100	415,366	$78,524,942
IBOC	International Bancshares Corp	−14,300	463,004	$31,155,539
CBK	Commercial Bancgroup, Inc.	−13,100	70,400	$1,831,808
GILD	Gilead Sciences, Inc.	−12,900	252,200	$35,149,114
WMB	Williams Companies, Inc.	−12,600	398,900	$29,031,942
CFR	Cullen/Frost Bankers, Inc.	−10,500	204,000	$27,964,320
ALSN	Allison Transmission Holdings Inc	−10,000	258,600	$30,271,716
LIN	Linde PLC	−9,300	124,583	$61,763,268
ARW	Arrow Electronics, Inc.	−8,800	286,603	$41,101,736
PRGS	Progress Software Corp /Ma	−8,200	23,400	$600,210
NTST	NETSTREIT Corp.	−8,100	107,900	$2,031,757
MPC	Marathon Petroleum Corp	−8,100	155,832	$38,051,057
BBSI	Barrett Business Services Inc	−8,000	30,800	$898,744
SPFI	South Plains Financial, Inc.	−7,600	113,400	$4,751,460
CVS	CVS HEALTH Corp	−7,600	517,700	$37,181,214
UTHR	UNITED THERAPEUTICS Corp	−7,000	96,650	$57,311,517
KFRC	Kforce Inc	−6,337	16,557	$484,126
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
EMN	Eastman Chemical Co	471,600	$35,992,512
HNI	Hni Corp	39,400	$1,315,566
No positions match the current search.

Sold Out

Positions the filer fully exited

7 positions

Ticker	Company	Shares	Value
SBH	Sally Beauty Holdings, Inc.	1,747,829	$24,924,041
UNH	Unitedhealth Group Inc	44,712	$14,759,878
EVTC	EVERTEC, Inc.	64,700	$1,882,123
ANF	Abercrombie & Fitch Co /De/	14,400	$1,812,528
AEO	American Eagle Outfitters Inc	54,900	$1,447,713
MMS	Maximus, Inc.	10,900	$940,888
GPK	Graphic Packaging Holding Co	58,700	$884,022
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

82 positions · $1,214,570,138 total · as of Mar 31, 2026

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

Showing 1–50 of 82 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	648,130	-34,200	$86,959,602	+2.3%	7.16%
JAZZ	Jazz Pharmaceuticals plc Healthcare	Reduced	415,366	-17,100	$78,524,942	+6.8%	6.47%
LIN	Linde PLC Basic Materials	Reduced	124,583	-9,300	$61,763,268	+8.2%	5.09%
UTHR	UNITED THERAPEUTICS Corp Healthcare	Reduced	96,650	-7,000	$57,311,517	+13.5%	4.72%
SW	Smurfit Westrock plc Consumer Cyclical	Reduced	1,366,550	-81,100	$54,457,017	−2.7%	4.48%
LNTH	Lantheus Holdings, Inc. Healthcare	Added	617,000	+79,000	$46,799,450	+30.7%	3.85%
ARW	Arrow Electronics, Inc. Technology	Reduced	286,603	-8,800	$41,101,736	+26.3%	3.38%
MPC	Marathon Petroleum Corp Energy	Reduced	155,832	-8,100	$38,051,057	+42.7%	3.13%
CVS	CVS HEALTH Corp Healthcare	Reduced	517,700	-7,600	$37,181,214	−10.8%	3.06%
EMN	Eastman Chemical Co Basic Materials	NEW	471,600	NEW	$35,992,512	NEW	2.96%
GILD	Gilead Sciences, Inc. Healthcare	Reduced	252,200	-12,900	$35,149,114	+8.0%	2.89%
JPM	Jpmorgan Chase & Co Financial Services	Added	117,552	+297	$34,579,096	−8.5%	2.85%
WBS	Webster Financial Corp Financial Services	Reduced	492,201	-24,000	$34,168,593	+5.2%	2.81%
IBOC	International Bancshares Corp Financial Services	Reduced	463,004	-14,300	$31,155,539	−1.8%	2.57%
MKSI	Mks Inc Technology	Reduced	134,700	-130,400	$30,955,407	−26.9%	2.55%
SLM	SLM Corp Financial Services	Added	1,429,100	+183,500	$30,597,031	−9.2%	2.52%
ALSN	Allison Transmission Holdings Inc Consumer Cyclical	Reduced	258,600	-10,000	$30,271,716	+15.1%	2.49%
GD	General Dynamics Corp Industrials	Reduced	87,354	-2,100	$29,981,639	−0.4%	2.47%
WMB	Williams Companies, Inc. Energy	Reduced	398,900	-12,600	$29,031,942	+17.4%	2.39%
TSN	Tyson Foods, Inc. Consumer Defensive	Reduced	451,348	-20,900	$28,917,866	+4.5%	2.38%
CB	Chubb Ltd Financial Services	Reduced	86,525	-4,600	$28,201,093	−0.8%	2.32%
CFR	Cullen/Frost Bankers, Inc. Financial Services	Reduced	204,000	-10,500	$27,964,320	+3.0%	2.30%
NEE	Nextera Energy Inc Utilities	Reduced	291,676	-17,600	$27,090,866	+9.1%	2.23%
INGR	Ingredion Inc Consumer Defensive	Added	229,600	+7,900	$25,866,736	+5.8%	2.13%
ABBV	AbbVie Inc. Healthcare	Reduced	116,677	-3,100	$25,376,080	−7.3%	2.09%
MTB	M&T Bank Corp Financial Services	Reduced	122,594	-3,400	$25,342,631	−0.2%	2.09%
GLPI	Gaming & Leisure Properties, Inc. Real Estate	Added	540,300	+35,000	$23,973,111	+6.2%	1.97%
ELV	Elevance Health, Inc. Healthcare	Reduced	71,641	-2,300	$20,972,902	−19.1%	1.73%
COF	Capital One Financial Corp Financial Services	Reduced	113,644	-1,400	$20,732,074	−25.6%	1.71%
NOMD	Nomad Foods Ltd Consumer Defensive	Reduced	2,102,800	-226,800	$20,207,908	−30.7%	1.66%
LKQ	Lkq Corp Consumer Cyclical	Reduced	683,000	-24,500	$20,059,710	−6.1%	1.65%
SPFI	South Plains Financial, Inc. Financial Services	Reduced	113,400	-7,600	$4,751,460	+1.2%	0.39%
HTB	HomeTrust Bancshares, Inc. Financial Services	Held	105,000	0	$4,478,250	−0.7%	0.37%
OFG	Ofg Bancorp Financial Services	Held	108,000	0	$4,369,680	−1.3%	0.36%
LAUR	Laureate Education, Inc. Consumer Defensive	Held	71,800	0	$2,501,512	+3.5%	0.21%
INDB	Independent Bank Corp Financial Services	Held	32,439	0	$2,439,737	+2.9%	0.20%
IMKTA	Ingles Markets Inc Consumer Defensive	Reduced	26,983	-5,300	$2,425,501	+9.6%	0.20%
NTB	Bank of N.T. Butterfield & Son Ltd Financial Services	Held	45,600	0	$2,393,088	+5.3%	0.20%
VVX	V2X, Inc. Industrials	Added	34,200	+400	$2,342,700	+27.1%	0.19%
BKH	Black Hills Corp /Sd/ Utilities	Held	33,700	0	$2,339,117	−0.0%	0.19%
BOKF	Bok Financial Corp Financial Services	Held	18,164	0	$2,326,081	+8.1%	0.19%
CHCO	City Holding Co Financial Services	Reduced	19,095	-1,700	$2,282,234	−7.9%	0.19%
BHB	Bar Harbor Bankshares Financial Services	Held	70,000	0	$2,271,500	+4.5%	0.19%
PRDO	PERDOCEO EDUCATION Corp Consumer Defensive	Held	60,600	0	$2,254,926	+26.9%	0.19%
CVI	Cvr Energy Inc Energy	Held	67,000	0	$2,254,550	+32.3%	0.19%
EBF	Ennis, Inc. Industrials	Held	105,100	0	$2,251,242	+18.9%	0.19%
BFST	Business First Bancshares, Inc. Financial Services	Held	82,400	0	$2,228,096	+3.4%	0.18%
CBT	Cabot Corp Basic Materials	Added	28,473	+4,700	$2,144,301	+36.1%	0.18%
PEBO	Peoples Bancorp Inc Financial Services	Held	64,700	0	$2,126,689	+9.5%	0.18%
FANG	Diamondback Energy, Inc. Energy	Held	10,670	0	$2,110,419	+31.6%	0.17%