Polaris Capital Management, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 26, 2024), Polaris Capital Management, LLC reported 92 stock positions worth $1.9 billion. Its top holding was Linde (LIN) at 10.4% of the portfolio, followed by Popular (BPOP, 8.9%) and Jazz Pharmaceuticals (JAZZ, 7.9%). Compared with Q1 2024, it opened 1 new position, sold out of 1, added to 14 and reduced 39. The biggest buy was United Therapeutics (UTHR, shares +14%) and the biggest sale Linde (LIN, shares −9%).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0001316926
Portfolio Value
$1.9B (Q2 2024)
SEC Filing
0001144969-24-000004 ↗ filed Jul 26, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $2.0B Q1 2024 Q2 2024: $1.9B $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 · $1.9B
LIN Linde PLC 10.40% 442,436 $194.1M Reduce -8.7%
BPOP Popular Inc. 8.88% 1,875,078 $165.8M Reduce -5.3%
JAZZ Jazz Pharmaceuticals PLC 7.87% 1,375,460 $146.8M Reduce -4.0%
CROX Crocs Inc. 2.82% 361,077 $52.7M Reduce -2.8%
NOMD Nomad Foods Ltd. 2.80% 3,175,300 $52.3M Reduce -5.0%
UTHR United Therapeutics Corp. 2.54% 148,550 $47.3M Add +14.3%
ALSN Allison Transmission Holding 2.53% 621,100 $47.1M Reduce -3.1%
MSFT Microsoft Corp. 2.51% 104,926 $46.9M Reduce -3.7%
MKSI MKS Inc. filed as MKS INSTRS INC 2.51% 358,600 $46.8M Reduce -2.2%
WMB Williams Cos Inc. 2.41% 1,059,000 $45.0M Reduce -3.1%
JPM JPMorgan Chase & Co. 2.35% 217,251 $43.9M Reduce -2.3%
TGLS Tecnoglass Holdings Inc. 2.24% 831,964 $41.7M Reduce -7.8%
GD General Dynamics Corp. 2.22% 142,764 $41.4M Reduce -3.1%
IBOC International Bancshares CRP 2.21% 720,808 $41.2M Reduce -1.3%
ABBV Abbvie Inc. 2.15% 234,479 $40.2M Reduce -1.6%
ELV Elevance Health Inc. 2.13% 73,369 $39.8M Reduce -2.9%
MPC Marathon Petroleum Corp. 1.96% 210,594 $36.5M Reduce -3.3%
TSN Tyson Foods Inc. Class A 1.95% 635,863 $36.3M Reduce -1.2%
NEE Nextera Energy Inc. 1.93% 508,864 $36.0M Reduce -2.8%
INGR Ingredion Inc. 1.90% 309,200 $35.5M Reduce -2.5%
NOV Nov Inc. 1.85% 1,817,153 $34.5M Reduce -2.0%
SLM SLM Corp. 1.82% 1,636,100 $34.0M Reduce -2.4%
CB Chubb Ltd. 1.79% 131,269 $33.5M Reduce -2.5%
NTRS Northern Trust Corp. 1.78% 396,100 $33.3M Reduce -2.5%
UNH Unitedhealth Group Inc. 1.76% 64,342 $32.9M Reduce -3.0%
WBS Webster Financial Corp. 1.73% 742,495 $32.4M Reduce -1.8%
CFR Cullen/Frost Bankers Inc. 1.72% 315,800 $32.1M Reduce -2.7%
COF Capital One Financial Corp. 1.72% 231,608 $32.1M Reduce -2.4%
IPG Interpublic Group of Cos Inc. 1.71% 1,095,800 $31.9M Reduce -2.1%
CG The Carlyle Group Inc. 1.67% 777,000 $31.2M Reduce -2.5%
SAIC Science Applications Inte 1.63% 258,100 $30.3M Reduce -1.9%
ARW Arrow Electronics Inc. 1.61% 248,503 $30.0M Reduce -1.9%
GILD Gilead Sciences Inc. 1.55% 421,900 $28.9M Add +7.3%
MTB M & T Bank Corp. filed as M & T BK CORP 1.53% 188,894 $28.6M Add +15.3%
LKQ LKQ Corp. 1.50% 672,100 $28.0M Reduce -2.5%
CVS CVS Health Corp. 1.43% 451,100 $26.6M Reduce -1.6%
SBH Sally Beauty Holdings Inc. 1.36% 2,372,929 $25.5M Reduce -2.2%
DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC 0.45% 409,080 $8.3M Reduce -3.3%
CATC Cambridge Bancorp 0.42% 112,827 $7.8M Reduce -1.7%
PFC Premier Financial Corp. 0.38% 343,983 $7.0M Add +0.3%
OFG Ofg Bancorp 0.35% 176,600 $6.6M Reduce -2.4%
SPFI South Plains Financial Inc. 0.24% 166,700 $4.5M No change
BBSI Barrett Business SVCS Inc. 0.16% 92,000 $3.0M No change
HTGC Hercules Capital Inc. 0.14% 128,665 $2.6M Add +2.5%
EBC Eastern Bankshares Inc. 0.14% 182,200 $2.5M Reduce -8.9%
GPK Graphic Packaging Holding Co. 0.13% 91,600 $2.4M No change
CBT Cabot Corp. 0.13% 25,573 $2.3M No change
FANG Diamondback Energy Inc. 0.11% 10,670 $2.1M No change
AIT Applied Industrial Tech Inc. 0.11% 11,000 $2.1M No change
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP 0.11% 43,300 $2.1M No change
CW Curtiss-Wright Corp. 0.10% 7,200 $2.0M No change
KFRC Kforce Inc. 0.10% 29,494 $1.8M No change
EXP Eagle Materials Inc. 0.10% 8,400 $1.8M No change
VVX V2X Inc. 0.10% 37,600 $1.8M No change
BOKF Bok Financial Corporation 0.09% 18,264 $1.7M Add +8.3%
WNC Wabash National Corp. 0.09% 76,200 $1.7M Add +2.0%
EVTC Evertec Inc. 0.09% 49,800 $1.7M No change
NBN Northeast Bank 0.09% 27,200 $1.7M No change
CSL Carlisle Cos Inc. 0.09% 4,000 $1.6M Add +14.3%
EBF Ennis Inc. 0.08% 72,400 $1.6M No change
PEBO Peoples Bancorp Inc. 0.08% 50,300 $1.5M No change
CBAN Colony Bankcorp 0.08% 119,479 $1.5M No change
MMS Maximus Inc. 0.08% 16,600 $1.4M No change
DNOW Dnow Inc. 0.07% 101,700 $1.4M No change
EXEL Exelixis Inc. 0.07% 61,900 $1.4M No change
KNX Knight-Swift Transportation 0.07% 27,194 $1.4M Add +26.5%
SSB Southstate Bank Corp. 0.07% 17,561 $1.3M Add +19.0%
WGO Winnebago Industries 0.07% 23,067 $1.3M Add +83.5%
BKE The Buckle Inc. 0.07% 33,500 $1.2M No change
XRN Global Medical REIT Inc. 0.07% 135,500 $1.2M No change
AYI Acuity Inc. 0.06% 5,000 $1.2M No change
SBSI Southside Bancshares Inc. 0.06% 43,200 $1.2M No change
BHB Bar Harbor Bankshares filed as BAR HBR BANKSHARES 0.06% 43,400 $1.2M No change
JBI Janus International Group Inc. 0.06% 91,500 $1.2M No change
SUPN Supernus Pharmaceuticals Inc. 0.06% 42,500 $1.1M No change
DRIL-QUIP INC 0.06% 60,500 $1.1M No change
KE Kimball Electronics Inc. 0.06% 50,245 $1.1M No change
TBRG Trubridge Inc. 0.06% 105,550 $1.1M Add +45.9%
CSGS CSG Systems Intl Inc. 0.05% 24,000 $988K No change
CVI CVR Energy Inc. 0.05% 34,400 $921K No change
RRX Regal Rexnord Corp. 0.05% 6,789 $918K No change
CHCO City Holding Co. filed as CITY HLDG CO 0.05% 8,095 $860K Add +93.0%
HRMY Harmony Biosciences Holdings 0.05% 28,500 $860K No change
FNB FNB Corp. 0.05% 61,980 $848K No change
HEES H&E Equipment Services Inc. 0.04% 18,600 $822K New
PRDO Perdoceo Education Corp. 0.04% 36,600 $784K Reduce -21.6%
EEFT Euronet Worldwide Inc. 0.04% 6,500 $673K No change
BAP Credicorp Ltd. 0.03% 3,800 $613K No change
FSEA First Seacoast Bancorp Inc. 0.02% 45,437 $409K Add +65.0%
INDB Independent Bank Corp. 0.02% 7,639 $387K No change
PCRX Pacira Biosciences Inc. 0.01% 5,600 $160K No change
CFSB CFSB Bancorp Inc. 0.00% 10,000 $66K No change

Portfolio Sells Q1 2024 → Q2 2024
LIN Linde PLC Reduce -8.7% 10.40% −0.81
JAZZ Jazz Pharmaceuticals PLC Reduce -4.0% 7.87% −0.73
NOMD Nomad Foods Ltd. Reduce -5.0% 2.80% −0.45
CVS CVS Health Corp. Reduce -1.6% 1.43% −0.39
LKQ LKQ Corp. Reduce -2.5% 1.50% −0.34
MPC Marathon Petroleum Corp. Reduce -3.3% 1.96% −0.23
CG The Carlyle Group Inc. Reduce -2.5% 1.67% −0.19
WBS Webster Financial Corp. Reduce -1.8% 1.73% −0.18
SBH Sally Beauty Holdings Inc. Reduce -2.2% 1.36% −0.14
IPG Interpublic Group of Cos Inc. Reduce -2.1% 1.71% −0.11
TGLS Tecnoglass Holdings Inc. Reduce -7.8% 2.24% −0.10
CFR Cullen/Frost Bankers Inc. Reduce -2.7% 1.72% −0.10
SAIC Science Applications Inte Reduce -1.9% 1.63% −0.08
ALSN Allison Transmission Holding Reduce -3.1% 2.53% −0.07
COF Capital One Financial Corp. Reduce -2.4% 1.72% −0.04
SMP Standard Motor Prods Sold out 0.00% −0.03
ARW Arrow Electronics Inc. Reduce -1.9% 1.61% −0.03
NTRS Northern Trust Corp. Reduce -2.5% 1.78% −0.02
ABBV Abbvie Inc. Reduce -1.6% 2.15% −0.01
EBC Eastern Bankshares Inc. Reduce -8.9% 0.14% −0.00
PRDO Perdoceo Education Corp. Reduce -21.6% 0.04% +0.00
SLM SLM Corp. Reduce -2.4% 1.82% +0.00
OFG Ofg Bancorp Reduce -2.4% 0.35% +0.02
CATC Cambridge Bancorp Reduce -1.7% 0.42% +0.03
DCOM Dime Commercial Bancshares I Reduce -3.3% 0.45% +0.04
NOV Nov Inc. Reduce -2.0% 1.85% +0.05
INGR Ingredion Inc. Reduce -2.5% 1.90% +0.05
CB Chubb Ltd. Reduce -2.5% 1.79% +0.06
TSN Tyson Foods Inc. Class A Reduce -1.2% 1.95% +0.06
MKSI MKS Inc. Reduce -2.2% 2.51% +0.08
UNH Unitedhealth Group Inc. Reduce -3.0% 1.76% +0.13
JPM JPMorgan Chase & Co. Reduce -2.3% 2.35% +0.14
GD General Dynamics Corp. Reduce -3.1% 2.22% +0.15
CROX Crocs Inc. Reduce -2.8% 2.82% +0.16
IBOC International Bancshares CRP Reduce -1.3% 2.21% +0.17
ELV Elevance Health Inc. Reduce -2.9% 2.13% +0.18
BPOP Popular Inc. Reduce -5.3% 8.88% +0.19
MSFT Microsoft Corp. Reduce -3.7% 2.51% +0.23
NEE Nextera Energy Inc. Reduce -2.8% 1.93% +0.26
WMB Williams Cos Inc. Reduce -3.1% 2.41% +0.29

Portfolio Buys Q1 2024 → Q2 2024
UTHR United Therapeutics Corp. Add +14.3% 2.54% +1.05
MTB M & T Bank Corp. Add +15.3% 1.53% +0.34
GILD Gilead Sciences Inc. Add +7.3% 1.55% +0.12
HEES H&E Equipment Services Inc. New 0.04% +0.04
PFC Premier Financial Corp. Add +0.3% 0.38% +0.03
HTGC Hercules Capital Inc. Add +2.5% 0.14% +0.03
CHCO City Holding Co. Add +93.0% 0.05% +0.02
TBRG Trubridge Inc. Add +45.9% 0.06% +0.02
WGO Winnebago Industries Add +83.5% 0.07% +0.02
CSL Carlisle Cos Inc. Add +14.3% 0.09% +0.02
KNX Knight-Swift Transportation Add +26.5% 0.07% +0.01
BOKF Bok Financial Corporation Add +8.3% 0.09% +0.01
FSEA First Seacoast Bancorp Inc. Add +65.0% 0.02% +0.01
SSB Southstate Bank Corp. Add +19.0% 0.07% +0.01
WNC Wabash National Corp. Add +2.0% 0.09% −0.02

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