Polaris Capital Management, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 24, 2024), Polaris Capital Management, LLC reported 92 stock positions worth $2.0 billion. Its top holding was Linde (LIN) at 11.2% of the portfolio, followed by Popular (BPOP, 8.7%) and Jazz Pharmaceuticals (JAZZ, 8.6%). Compared with Q4 2023, it opened 1 new position, sold out of 2, added to 9 and reduced 40. The biggest buy was a new position in LKQ (LKQ) and the biggest sale an exit from Berry Global (BERY).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0001316926
Portfolio Value
$2.0B (Q1 2024)
SEC Filing
0001144969-24-000003 ↗ filed Apr 24, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $2.0B $2.0B Q1 2024 Q2 2024: $1.9B Q2 2024 Q3 2024: $2.0B Q3 2024 Q4 2024: $2.1B Q4 2024 Q1 2025: $1.7B Q1 2025 Q2 2025: $1.5B Q2 2025 Q3 2025: $1.5B Q3 2025 Q4 2025: $1.2B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 92 stocks · $2.0B
LIN Linde PLC 11.21% 484,392 $224.9M Reduce -4.8%
BPOP Popular Inc. 8.69% 1,980,078 $174.4M Reduce -10.4%
JAZZ Jazz Pharmaceuticals PLC 8.60% 1,432,660 $172.5M Add +13.0%
NOMD Nomad Foods Ltd. 3.26% 3,342,800 $65.4M Reduce -1.6%
CROX Crocs Inc. 2.66% 371,277 $53.4M Reduce -9.1%
ALSN Allison Transmission Holding 2.59% 640,700 $52.0M Reduce -29.4%
MKSI MKS Inc. filed as MKS INSTRS INC 2.43% 366,700 $48.8M Reduce -31.3%
TGLS Tecnoglass Holdings Inc. 2.34% 902,064 $46.9M Add +0.6%
MSFT Microsoft Corp. 2.28% 108,926 $45.8M Reduce -10.5%
JPM JPMorgan Chase & Co. 2.22% 222,251 $44.5M Reduce -27.0%
MPC Marathon Petroleum Corp. 2.19% 217,694 $43.9M Reduce -24.4%
ABBV Abbvie Inc. 2.16% 238,279 $43.4M Reduce -19.5%
WMB Williams Cos Inc. 2.12% 1,093,200 $42.6M Reduce -12.2%
GD General Dynamics Corp. 2.07% 147,264 $41.6M Reduce -10.0%
IBOC International Bancshares CRP 2.04% 730,008 $41.0M Reduce -10.5%
ELV Elevance Health Inc. 1.95% 75,569 $39.2M Reduce -12.4%
WBS Webster Financial Corp. 1.91% 755,795 $38.4M Reduce -10.5%
TSN Tyson Foods Inc. Class A 1.88% 643,563 $37.8M Reduce -8.8%
CG The Carlyle Group Inc. 1.86% 797,200 $37.4M Add +20.8%
INGR Ingredion Inc. 1.85% 317,000 $37.0M Reduce -10.9%
LKQ LKQ Corp. 1.83% 689,400 $36.8M New
CVS CVS Health Corp. 1.82% 458,300 $36.6M Reduce -8.7%
IPG Interpublic Group of Cos Inc. 1.82% 1,119,900 $36.5M Reduce -9.1%
CFR Cullen/Frost Bankers Inc. 1.82% 324,600 $36.5M Reduce -9.6%
SLM SLM Corp. 1.82% 1,676,000 $36.5M Reduce -31.5%
NOV Nov Inc. 1.80% 1,854,553 $36.2M Reduce -6.3%
NTRS Northern Trust Corp. 1.80% 406,200 $36.1M Add +10.2%
COF Capital One Financial Corp. 1.76% 237,408 $35.3M Reduce -24.0%
CB Chubb Ltd. 1.74% 134,669 $34.9M Reduce -28.7%
SAIC Science Applications Inte 1.71% 263,200 $34.3M Reduce -25.1%
NEE Nextera Energy Inc. 1.67% 523,464 $33.5M Add +42.0%
UNH Unitedhealth Group Inc. 1.64% 66,352 $32.8M Reduce -10.5%
ARW Arrow Electronics Inc. 1.63% 253,403 $32.8M Reduce -8.8%
SBH Sally Beauty Holdings Inc. 1.50% 2,425,729 $30.1M Reduce -10.6%
UTHR United Therapeutics Corp. 1.49% 129,950 $29.9M Reduce -8.8%
GILD Gilead Sciences Inc. 1.44% 393,200 $28.8M Reduce -9.8%
MTB M & T Bank Corp. filed as M & T BK CORP 1.19% 163,794 $23.8M Reduce -5.8%
DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC 0.41% 423,180 $8.2M Reduce -5.4%
CATC Cambridge Bancorp 0.39% 114,727 $7.8M Reduce -12.8%
PFC Premier Financial Corp. 0.35% 342,883 $7.0M Reduce -2.9%
OFG Ofg Bancorp 0.33% 180,900 $6.7M No change
SPFI South Plains Financial Inc. 0.22% 166,700 $4.5M No change
BBSI Barrett Business SVCS Inc. 0.15% 23,000 $2.9M No change
EBC Eastern Bankshares Inc. 0.14% 200,000 $2.8M No change
GPK Graphic Packaging Holding Co. 0.13% 91,600 $2.7M No change
CBT Cabot Corp. 0.12% 25,573 $2.4M No change
HTGC Hercules Capital Inc. 0.12% 125,545 $2.3M No change
EXP Eagle Materials Inc. 0.11% 8,400 $2.3M Reduce -10.6%
WNC Wabash National Corp. 0.11% 74,700 $2.2M No change
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP 0.11% 43,300 $2.2M No change
AIT Applied Industrial Tech Inc. 0.11% 11,000 $2.2M No change
FANG Diamondback Energy Inc. 0.11% 10,670 $2.1M No change
KFRC Kforce Inc. 0.10% 29,494 $2.1M No change
EVTC Evertec Inc. 0.10% 49,800 $2.0M No change
CW Curtiss-Wright Corp. 0.09% 7,200 $1.8M No change
VVX V2X Inc. 0.09% 37,600 $1.8M Add +13.6%
BOKF Bok Financial Corporation 0.08% 16,864 $1.6M No change
DNOW Dnow Inc. 0.08% 101,700 $1.5M Add +32.1%
NBN Northeast Bank 0.07% 27,200 $1.5M No change
PEBO Peoples Bancorp Inc. 0.07% 50,300 $1.5M No change
EBF Ennis Inc. 0.07% 72,400 $1.5M No change
EXEL Exelixis Inc. 0.07% 61,900 $1.5M No change
SUPN Supernus Pharmaceuticals Inc. 0.07% 42,500 $1.4M No change
MMS Maximus Inc. 0.07% 16,600 $1.4M No change
JBI Janus International Group Inc. 0.07% 91,500 $1.4M No change
CBAN Colony Bankcorp 0.07% 119,479 $1.4M No change
CSL Carlisle Cos Inc. 0.07% 3,500 $1.4M No change
DRIL-QUIP INC 0.07% 60,500 $1.4M No change
BKE The Buckle Inc. 0.07% 33,500 $1.3M Add +28.4%
AYI Acuity Inc. 0.07% 5,000 $1.3M No change
SBSI Southside Bancshares Inc. 0.06% 43,200 $1.3M No change
SSB Southstate Bank Corp. 0.06% 14,761 $1.3M No change
CSGS CSG Systems Intl Inc. 0.06% 24,000 $1.2M No change
CVI CVR Energy Inc. 0.06% 34,400 $1.2M No change
RRX Regal Rexnord Corp. 0.06% 6,789 $1.2M No change
XRN Global Medical REIT Inc. 0.06% 135,500 $1.2M Add +73.9%
KNX Knight-Swift Transportation 0.06% 21,494 $1.2M No change
BHB Bar Harbor Bankshares filed as BAR HBR BANKSHARES 0.06% 43,400 $1.1M No change
KE Kimball Electronics Inc. 0.05% 50,245 $1.1M No change
HRMY Harmony Biosciences Holdings 0.05% 28,500 $957K No change
WGO Winnebago Industries 0.05% 12,567 $930K No change
FNB FNB Corp. 0.04% 61,980 $874K No change
PRDO Perdoceo Education Corp. 0.04% 46,700 $820K Reduce -29.4%
EEFT Euronet Worldwide Inc. 0.04% 6,500 $715K Reduce -16.7%
SMP Standard Motor Prods 0.03% 20,700 $694K Reduce -51.4%
TBRG Trubridge Inc. 0.03% 72,350 $667K No change
BAP Credicorp Ltd. 0.03% 3,800 $644K Reduce -43.3%
CHCO City Holding Co. filed as CITY HLDG CO 0.02% 4,195 $437K No change
INDB Independent Bank Corp. 0.02% 7,639 $397K No change
FSEA First Seacoast Bancorp Inc. 0.01% 27,537 $231K No change
PCRX Pacira Biosciences Inc. 0.01% 5,600 $164K Reduce -74.5%
CFSB CFSB Bancorp Inc. 0.00% 10,000 $72K No change

Portfolio Sells Q4 2023 → Q1 2024
BERY Berry Global Group Inc. Sold out 0.00% −2.09
AVT Avnet Inc. Sold out 0.00% −1.84
SLM SLM Corp. Reduce -31.5% 1.82% −0.44
SAIC Science Applications Inte Reduce -25.1% 1.71% −0.40
CB Chubb Ltd. Reduce -28.7% 1.74% −0.32
JPM JPMorgan Chase & Co. Reduce -27.0% 2.22% −0.28
GILD Gilead Sciences Inc. Reduce -9.8% 1.44% −0.27
UNH Unitedhealth Group Inc. Reduce -10.5% 1.64% −0.25
SBH Sally Beauty Holdings Inc. Reduce -10.6% 1.50% −0.24
MKSI MKS Inc. Reduce -31.3% 2.43% −0.22
COF Capital One Financial Corp. Reduce -24.0% 1.76% −0.22
DCOM Dime Commercial Bancshares I Reduce -5.4% 0.41% −0.18
WBS Webster Financial Corp. Reduce -10.5% 1.91% −0.16
NOV Nov Inc. Reduce -6.3% 1.80% −0.14
IPG Interpublic Group of Cos Inc. Reduce -9.1% 1.82% −0.12
IBOC International Bancshares CRP Reduce -10.5% 2.04% −0.10
CVS CVS Health Corp. Reduce -8.7% 1.82% −0.09
BPOP Popular Inc. Reduce -10.4% 8.69% −0.07
PFC Premier Financial Corp. Reduce -2.9% 0.35% −0.06
CFR Cullen/Frost Bankers Inc. Reduce -9.6% 1.82% −0.06
ABBV Abbvie Inc. Reduce -19.5% 2.16% −0.05
CATC Cambridge Bancorp Reduce -12.8% 0.39% −0.05
SMP Standard Motor Prods Reduce -51.4% 0.03% −0.05
PCRX Pacira Biosciences Inc. Reduce -74.5% 0.01% −0.03
UTHR United Therapeutics Corp. Reduce -8.8% 1.49% −0.03
INGR Ingredion Inc. Reduce -10.9% 1.85% −0.02
BAP Credicorp Ltd. Reduce -43.3% 0.03% −0.02
PRDO Perdoceo Education Corp. Reduce -29.4% 0.04% −0.02
ELV Elevance Health Inc. Reduce -12.4% 1.95% −0.01
ARW Arrow Electronics Inc. Reduce -8.8% 1.63% −0.00
EEFT Euronet Worldwide Inc. Reduce -16.7% 0.04% −0.00
EXP Eagle Materials Inc. Reduce -10.6% 0.11% +0.02
GD General Dynamics Corp. Reduce -10.0% 2.07% +0.02
WMB Williams Cos Inc. Reduce -12.2% 2.12% +0.03
MTB M & T Bank Corp. Reduce -5.8% 1.19% +0.04
ALSN Allison Transmission Holding Reduce -29.4% 2.59% +0.04
TSN Tyson Foods Inc. Class A Reduce -8.8% 1.88% +0.05
MSFT Microsoft Corp. Reduce -10.5% 2.28% +0.07
MPC Marathon Petroleum Corp. Reduce -24.4% 2.19% +0.12
NOMD Nomad Foods Ltd. Reduce -1.6% 3.26% +0.48
CROX Crocs Inc. Reduce -9.1% 2.66% +0.82
LIN Linde PLC Reduce -4.8% 11.21% +1.11

Portfolio Buys Q4 2023 → Q1 2024
LKQ LKQ Corp. New 1.83% +1.83
JAZZ Jazz Pharmaceuticals PLC Add +13.0% 8.60% +1.07
NEE Nextera Energy Inc. Add +42.0% 1.67% +0.59
CG The Carlyle Group Inc. Add +20.8% 1.86% +0.57
TGLS Tecnoglass Holdings Inc. Add +0.6% 2.34% +0.36
NTRS Northern Trust Corp. Add +10.2% 1.80% +0.30
DNOW Dnow Inc. Add +32.1% 0.08% +0.03
XRN Global Medical REIT Inc. Add +73.9% 0.06% +0.02
VVX V2X Inc. Add +13.6% 0.09% +0.01
BKE The Buckle Inc. Add +28.4% 0.07% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 84$1.1BBPOP, JAZZ, SW, LIN, LNTH
Q1 2026 84$1.2BBPOP, JAZZ, LIN, UTHR, SW
Q4 2025 89$1.2BBPOP, JAZZ, LIN, SW, UTHR
Q3 2025 90$1.5BBPOP, VIPS, LIN, SW, JAZZ
Q2 2025 92$1.5BBPOP, VIPS, LIN, SW, JAZZ
Q1 2025 91$1.7BBPOP, VIPS, SW, LIN, JAZZ
Q4 2024 96$2.1BSW, BPOP, LIN, JAZZ, TGLS
Q3 2024 92$2.0BLIN, BPOP, JAZZ, NOMD, TGLS
Q2 2024 92$1.9BLIN, BPOP, JAZZ, CROX, NOMD
Q1 2024 92$2.0BLIN, BPOP, JAZZ, NOMD, CROX