Polaris Capital Management, LLC
Long book
$1.22B
Q1 2026
Positions
84
Top-10 weight
44%
concentration
Last quarter
+15.4%
SPY +14.8%
Turnover
10%
of book per quarter
Strategy in plain words
auto-generated from filingsPolaris Capital Management, LLC is a diversified fundamental manager, running a $1.22B US long book across 84 positions.
The portfolio is moderately concentrated (top 10 ≈ 44% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: POPULAR INC, JAZZ PHARMACEUTICALS PLC, LINDE PLC, UNITED THERAPEUTICS CORP, SMURFIT WESTROCK PLC.
Over the last 9 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-3.8%
Q2 2024
+9.6%
Q3 2024
-1.5%
Q4 2024
+0.7%
Q1 2025
+1.7%
Q2 2025
+7.1%
Q3 2025
+2.1%
Q4 2025
+7.0%
Q1 2026
+15.4%
Sector allocation
Financials 32%
Healthcare 20%
Materials 12%
Consumer staples 6%
Consumer discretionary 6%
Industrials 6%
Other 6%
Utilities 5%
Long book by quarter
What does Polaris Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BPOP POPULAR INC | Financials | 648.1K | $87.0M | 7.1% | -5.0% |
| JAZZ JAZZ PHARMACEUTICALS PLC | Healthcare | 415.4K | $78.5M | 6.4% | -4.0% |
| LIN LINDE PLC | Materials | 124.6K | $61.8M | 5.1% | -6.9% |
| UTHR UNITED THERAPEUTICS CORP | Healthcare | 96.7K | $57.3M | 4.7% | -6.8% |
| SW SMURFIT WESTROCK PLC | Other | 1.4M | $54.5M | 4.5% | -5.6% |
| LNTH LANTHEUS HOLDINGS INC | Materials | 617.0K | $46.8M | 3.8% | +14.7% |
| ARW ARROW ELECTRONICS INC | Consumer discretionary | 286.6K | $41.1M | 3.4% | -3.0% |
| MPC MARATHON PETROLEUM CORP | Energy | 155.8K | $38.1M | 3.1% | -4.9% |
| CVS CVS HEALTH CORP | Healthcare | 517.7K | $37.2M | 3.0% | -1.4% |
| EMN EASTMAN CHEMICAL CO | Materials | 471.6K | $36.0M | 2.9% | New |
| GILD GILEAD SCIENCES INC | Healthcare | 252.2K | $35.1M | 2.9% | -4.9% |
| JPM JPMORGAN CHASE & CO | Financials | 117.6K | $34.6M | 2.8% | +0.3% |
| WBS WEBSTER FINANCIAL CORP | Financials | 492.2K | $34.2M | 2.8% | -4.6% |
| IBOC INTERNATIONAL BANCSHARES CRP | Financials | 463.0K | $31.2M | 2.5% | -3.0% |
| MKSI MKS INC | Technology | 134.7K | $31.0M | 2.5% | -49.2% |
| SLM SLM CORP | Financials | 1.4M | $30.6M | 2.5% | +14.7% |
| ALSN ALLISON TRANSMISSION HOLDING | Industrials | 258.6K | $30.3M | 2.5% | -3.7% |
| GD GENERAL DYNAMICS CORP | Industrials | 87.4K | $30.0M | 2.5% | -2.3% |
| WMB WILLIAMS COS INC | Utilities | 398.9K | $29.0M | 2.4% | -3.1% |
| TSN TYSON FOODS INC-CL A | Consumer staples | 451.3K | $28.9M | 2.4% | -4.4% |
| CB CHUBB LTD | Financials | 86.5K | $28.2M | 2.3% | -5.0% |
| CFR CULLEN/FROST BANKERS INC | Financials | 204.0K | $28.0M | 2.3% | -4.9% |
| NEE NEXTERA ENERGY INC | Utilities | 291.7K | $27.1M | 2.2% | -5.7% |
| INGR INGREDION INC | Consumer staples | 229.6K | $25.9M | 2.1% | +3.6% |
| ABBV ABBVIE INC | Healthcare | 116.7K | $25.4M | 2.1% | -2.6% |
| MTB M & T BANK CORP | Financials | 122.6K | $25.3M | 2.1% | -2.7% |
| ELV ELEVANCE HEALTH INC | Financials | 71.6K | $21.0M | 1.7% | -3.1% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 113.6K | $20.7M | 1.7% | -1.2% |
| NOMD NOMAD FOODS LTD | Consumer staples | 2.1M | $20.2M | 1.7% | -9.7% |
| LKQ LKQ CORP | Consumer discretionary | 683.0K | $20.1M | 1.6% | -3.5% |
| NBN NORTHEAST BANK | — | 46.6K | $5.2M | 0.4% | -1.9% |
| SPFI SOUTH PLAINS FINANCIAL INC | Financials | 113.4K | $4.8M | 0.4% | -6.3% |
| HTB HOMETRUST BANCSHARES INC | Financials | 105.0K | $4.5M | 0.4% | Held |
| OFG OFG BANCORP | Financials | 108.0K | $4.4M | 0.4% | Held |
| LAUR LAUREATE EDUCATION INC | Services media | 71.8K | $2.5M | 0.2% | Held |
| INDB INDEPENDENT BANK CORP/MA | Financials | 32.4K | $2.4M | 0.2% | Held |
| IMKTA INGLES MARKETS INC-CLASS A | Consumer discretionary | 27.0K | $2.4M | 0.2% | -16.4% |
| NTB BANK OF N.T. BUTTERFIELD&SON | Financials | 45.6K | $2.4M | 0.2% | Held |
| SSB SOUTHSTATE BANK CORP | Financials | 25.8K | $2.4M | 0.2% | Held |
| VVX V2X INC | Services media | 34.2K | $2.3M | 0.2% | +1.2% |
| BKH BLACK HILLS CORP | Utilities | 33.7K | $2.3M | 0.2% | Held |
| BOKF BOK FINANCIAL CORPORATION | Financials | 18.2K | $2.3M | 0.2% | Held |
| CHCO CITY HOLDING CO | Financials | 19.1K | $2.3M | 0.2% | -8.2% |
| BHB BAR HARBOR BANKSHARES | Financials | 70.0K | $2.3M | 0.2% | Held |
| PRDO PERDOCEO EDUCATION CORP | Services media | 60.6K | $2.3M | 0.2% | Held |
| CVI CVR ENERGY INC | Energy | 67.0K | $2.3M | 0.2% | Held |
| EBF ENNIS INC | Other | 105.1K | $2.3M | 0.2% | Held |
| BFST BUSINESS FIRST BANCSHARES | Financials | 82.4K | $2.2M | 0.2% | Held |
| CBT CABOT CORP | Other | 28.5K | $2.1M | 0.2% | +19.8% |
| PEBO PEOPLES BANCORP INC | Financials | 64.7K | $2.1M | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 27, 2026 | 84 | $1.22B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 29, 2026 | 89 | $1.21B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 27, 2025 | 90 | $1.52B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 21, 2025 | 92 | $1.50B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 91 | $1.75B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 29, 2025 | 96 | $2.07B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 92 | $2.03B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 26, 2024 | 95 | $1.87B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 24, 2024 | 92 | $2.01B | canonical | SEC ↗ |
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