Polaris Capital Management, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 27, 2026), Polaris Capital Management, LLC reported 84 stock positions worth $1.2 billion. Its top holding was Popular (BPOP) at 7.1% of the portfolio, followed by Jazz Pharmaceuticals (JAZZ, 6.4%) and Linde (LIN, 5.1%). Compared with Q4 2025, it opened 2 new positions, sold out of 7, added to 24 and reduced 39. The biggest buy was a new position in Eastman Chemical (EMN) and the biggest sale an exit from Sally Beauty (SBH).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0001316926
Portfolio Value
$1.2B (Q1 2026)
SEC Filing
0001144969-26-000004 ↗ filed Apr 27, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $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 $1.2B Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 84 stocks · $1.2B

BPOP Popular Inc. 7.12% 648,130 $87.0M Reduce -5.0%
JAZZ Jazz Pharmaceuticals PLC 6.42% 415,366 $78.5M Reduce -4.0%
LIN Linde PLC 5.05% 124,583 $61.8M Reduce -7.0%
UTHR United Therapeutics Corp. 4.69% 96,650 $57.3M Reduce -6.8%
SW Smurfit Westrock PLC 4.46% 1,366,550 $54.5M Reduce -5.6%
LNTH Lantheus Holdings Inc. 3.83% 617,000 $46.8M Add +14.7%
ARW Arrow Electronics Inc. 3.36% 286,603 $41.1M Reduce -3.0%
MPC Marathon Petroleum Corp. 3.11% 155,832 $38.1M Reduce -4.9%
CVS CVS Health Corp. 3.04% 517,700 $37.2M Reduce -1.4%
EMN Eastman Chemical Co. 2.94% 471,600 $36.0M New
GILD Gilead Sciences Inc. 2.88% 252,200 $35.1M Reduce -4.9%
JPM JPMorgan Chase & Co. 2.83% 117,552 $34.6M Add +0.3%
WBS Webster Financial Corp. 2.80% 492,201 $34.2M Reduce -4.7%
IBOC International Bancshares CRP 2.55% 463,004 $31.2M Reduce -3.0%
MKSI MKS Inc. 2.53% 134,700 $31.0M Reduce -49.2%
SLM SLM Corp. 2.50% 1,429,100 $30.6M Add +14.7%
ALSN Allison Transmission Holding 2.48% 258,600 $30.3M Reduce -3.7%
GD General Dynamics Corp. 2.45% 87,354 $30.0M Reduce -2.4%
WMB Williams Cos Inc. 2.38% 398,900 $29.0M Reduce -3.1%
TSN Tyson Foods Inc. Class A 2.37% 451,348 $28.9M Reduce -4.4%
CB Chubb Ltd. 2.31% 86,525 $28.2M Reduce -5.0%
CFR Cullen/Frost Bankers Inc. 2.29% 204,000 $28.0M Reduce -4.9%
NEE Nextera Energy Inc. 2.22% 291,676 $27.1M Reduce -5.7%
INGR Ingredion Inc. 2.12% 229,600 $25.9M Add +3.6%
ABBV Abbvie Inc. 2.08% 116,677 $25.4M Reduce -2.6%
MTB M & T Bank Corp. filed as M & T BK CORP 2.07% 122,594 $25.3M Reduce -2.7%
GLPI Gaming and Leisure Propertie 1.96% 540,300 $24.0M Add +6.9%
ELV Elevance Health Inc. 1.72% 71,641 $21.0M Reduce -3.1%
COF Capital One Financial Corp. 1.70% 113,644 $20.7M Reduce -1.2%
NOMD Nomad Foods Ltd. 1.65% 2,102,800 $20.2M Reduce -9.7%
LKQ LKQ Corp. 1.64% 683,000 $20.1M Reduce -3.5%
NBN Northeast Bank 0.43% 46,600 $5.2M Reduce -1.9%
SPFI South Plains Financial Inc. 0.39% 113,400 $4.8M Reduce -6.3%
HTB Hometrust Bancshares Inc. 0.37% 105,000 $4.5M No change
OFG Ofg Bancorp 0.36% 108,000 $4.4M No change
LAUR Laureate Education Inc. 0.20% 71,800 $2.5M No change
INDB Independent Bank Corp. 0.20% 32,439 $2.4M No change
IMKTA Ingles Markets Inc. Class A 0.20% 26,983 $2.4M Reduce -16.4%
NTB Bank of N.T. Butterfield&son 0.20% 45,600 $2.4M No change
SSB Southstate Bank Corp. 0.20% 25,761 $2.4M No change
VVX V2X Inc. 0.19% 34,200 $2.3M Add +1.2%
BKH Black Hills Corp. 0.19% 33,700 $2.3M No change
BOKF Bok Financial Corporation 0.19% 18,164 $2.3M No change
CHCO City Holding Co. filed as CITY HLDG CO 0.19% 19,095 $2.3M Reduce -8.2%
BHB Bar Harbor Bankshares filed as BAR HBR BANKSHARES 0.19% 70,000 $2.3M No change
PRDO Perdoceo Education Corp. 0.18% 60,600 $2.3M No change
CVI CVR Energy Inc. 0.18% 67,000 $2.3M No change
EBF Ennis Inc. 0.18% 105,100 $2.3M No change
BFST Business First Bancshares 0.18% 82,400 $2.2M No change
CBT Cabot Corp. 0.18% 28,473 $2.1M Add +19.8%
PEBO Peoples Bancorp Inc. 0.17% 64,700 $2.1M No change
FANG Diamondback Energy Inc. 0.17% 10,670 $2.1M No change
PLUS Eplus Inc. 0.17% 27,700 $2.1M Add +6.1%
CVLG Covenant Logistics Group Inc. 0.17% 76,482 $2.1M Add +34.9%
NTST Netstreit Corp. 0.17% 107,900 $2.0M Reduce -7.0%
SBRA Sabra Health Care REIT Inc. 0.17% 105,000 $2.0M Add +3.5%
AIT Applied Industrial Tech Inc. 0.17% 7,600 $2.0M Add +8.6%
PECO Phillips Edison & Company Inc. 0.16% 53,500 $2.0M Reduce -10.2%
AVT Avnet Inc. 0.16% 32,200 $2.0M Reduce -9.6%
SBSI Southside Bancshares Inc. 0.16% 62,944 $2.0M Add +1.1%
EPRT Essential Properties Realty 0.16% 63,200 $1.9M Add +4.1%
NMIH Nmi Holdings Inc. filed as NMI HLDGS INC 0.15% 48,900 $1.8M Add +139.7%
CBK Commercial Bancgroup Inc. 0.15% 70,400 $1.8M Reduce -15.7%
BKE The Buckle Inc. 0.15% 35,683 $1.8M Add +42.7%
AYI Acuity Inc. 0.14% 6,200 $1.7M Add +31.9%
EXP Eagle Materials Inc. 0.14% 8,900 $1.7M Add +27.1%
CSL Carlisle Cos Inc. 0.13% 4,926 $1.6M Add +40.3%
DNOW Dnow Inc. 0.12% 121,000 $1.4M Add +12.2%
PDD PDD Holdings Inc. 0.11% 13,600 $1.4M Add +138.6%
WNC Wabash National Corp. 0.11% 158,070 $1.4M Add +9.3%
HNI Hni Corp. 0.11% 39,400 $1.3M New
ANIP Ani Pharmaceuticals Inc. 0.10% 15,600 $1.2M Add +60.8%
WGO Winnebago Industries 0.10% 38,067 $1.2M Add +26.6%
SUPN Supernus Pharmaceuticals Inc. 0.10% 22,500 $1.2M Reduce -12.8%
FSEA First Seacoast Bancorp Inc. 0.09% 90,537 $1.1M No change
EXEL Exelixis Inc. 0.09% 26,300 $1.1M No change
HRMY Harmony Biosciences Holdings 0.08% 36,100 $1.0M No change
BBSI Barrett Business SVCS Inc. 0.07% 30,800 $899K Reduce -20.6%
AMPH Amphastar Pharmaceuticals Inc. 0.07% 43,232 $847K Add +21.7%
AVBC Avidia Bancorp Inc. 0.06% 40,000 $787K No change
BAP Credicorp Ltd. 0.06% 2,000 $678K Reduce -25.9%
PRGS Progress Software Corp. 0.05% 23,400 $600K Reduce -25.9%
KFRC Kforce Inc. 0.04% 16,557 $484K Reduce -27.7%
EEFT Euronet Worldwide Inc. 0.02% 4,500 $299K Reduce -58.3%

Portfolio Sells Q4 2025 → Q1 2026

SBH Sally Beauty Holdings Inc. Sold out 0.00% −2.07
UNH Unitedhealth Group Inc. Sold out 0.00% −1.22
MKSI MKS Inc. Reduce -49.2% 2.53% −0.98
NOMD Nomad Foods Ltd. Reduce -9.7% 1.65% −0.76
COF Capital One Financial Corp. Reduce -1.2% 1.70% −0.62
ELV Elevance Health Inc. Reduce -3.1% 1.72% −0.43
CVS CVS Health Corp. Reduce -1.4% 3.04% −0.42
ABBV Abbvie Inc. Reduce -2.6% 2.08% −0.19
SW Smurfit Westrock PLC Reduce -5.6% 4.46% −0.19
EVTC Evertec Inc. Sold out 0.00% −0.16
ANF Abercrombie & Fitch Co. Class A Sold out 0.00% −0.15
LKQ LKQ Corp. Reduce -3.5% 1.64% −0.13
AEO American Eagle Outfitters Sold out 0.00% −0.12
IBOC International Bancshares CRP Reduce -3.0% 2.55% −0.08
MMS Maximus Inc. Sold out 0.00% −0.08
GPK Graphic Packaging Holding Co. Sold out 0.00% −0.07
PRGS Progress Software Corp. Reduce -25.9% 0.05% −0.06
CB Chubb Ltd. Reduce -5.0% 2.31% −0.05
GD General Dynamics Corp. Reduce -2.4% 2.45% −0.04
EEFT Euronet Worldwide Inc. Reduce -58.3% 0.02% −0.04
BBSI Barrett Business SVCS Inc. Reduce -20.6% 0.07% −0.04
MTB M & T Bank Corp. Reduce -2.7% 2.07% −0.03
CBK Commercial Bancgroup Inc. Reduce -15.7% 0.15% −0.02
KFRC Kforce Inc. Reduce -27.7% 0.04% −0.02
CHCO City Holding Co. Reduce -8.2% 0.19% −0.02
PECO Phillips Edison & Company Inc. Reduce -10.2% 0.16% −0.01
SUPN Supernus Pharmaceuticals Inc. Reduce -12.8% 0.10% −0.01
BAP Credicorp Ltd. Reduce -25.9% 0.06% −0.01
NTST Netstreit Corp. Reduce -7.0% 0.17% −0.00
SPFI South Plains Financial Inc. Reduce -6.3% 0.39% −0.00
IMKTA Ingles Markets Inc. Class A Reduce -16.4% 0.20% +0.01
NBN Northeast Bank Reduce -1.9% 0.43% +0.02
AVT Avnet Inc. Reduce -9.6% 0.16% +0.02
CFR Cullen/Frost Bankers Inc. Reduce -4.9% 2.29% +0.03
BPOP Popular Inc. Reduce -5.0% 7.12% +0.07
TSN Tyson Foods Inc. Class A Reduce -4.4% 2.37% +0.07
WBS Webster Financial Corp. Reduce -4.7% 2.80% +0.10
NEE Nextera Energy Inc. Reduce -5.7% 2.22% +0.16
GILD Gilead Sciences Inc. Reduce -4.9% 2.88% +0.18
ALSN Allison Transmission Holding Reduce -3.7% 2.48% +0.30
LIN Linde PLC Reduce -7.0% 5.05% +0.32
WMB Williams Cos Inc. Reduce -3.1% 2.38% +0.32
JAZZ Jazz Pharmaceuticals PLC Reduce -4.0% 6.42% +0.33
UTHR United Therapeutics Corp. Reduce -6.8% 4.69% +0.50
ARW Arrow Electronics Inc. Reduce -3.0% 3.36% +0.66
MPC Marathon Petroleum Corp. Reduce -4.9% 3.11% +0.90

Portfolio Buys Q4 2025 → Q1 2026

EMN Eastman Chemical Co. New 2.94% +2.94
LNTH Lantheus Holdings Inc. Add +14.7% 3.83% +0.86
HNI Hni Corp. New 0.11% +0.11
INGR Ingredion Inc. Add +3.6% 2.12% +0.09
GLPI Gaming and Leisure Propertie Add +6.9% 1.96% +0.09
NMIH Nmi Holdings Inc. Add +139.7% 0.15% +0.08
CVLG Covenant Logistics Group Inc. Add +34.9% 0.17% +0.07
PDD PDD Holdings Inc. Add +138.6% 0.11% +0.06
CBT Cabot Corp. Add +19.8% 0.18% +0.04
CSL Carlisle Cos Inc. Add +40.3% 0.13% +0.04
VVX V2X Inc. Add +1.2% 0.19% +0.04
BKE The Buckle Inc. Add +42.7% 0.15% +0.04
ANIP Ani Pharmaceuticals Inc. Add +60.8% 0.10% +0.03
EXP Eagle Materials Inc. Add +27.1% 0.14% +0.02
AIT Applied Industrial Tech Inc. Add +8.6% 0.17% +0.02
EPRT Essential Properties Realty Add +4.1% 0.16% +0.01
WNC Wabash National Corp. Add +9.3% 0.11% +0.01
SBRA Sabra Health Care REIT Inc. Add +3.5% 0.17% +0.01
SBSI Southside Bancshares Inc. Add +1.1% 0.16% +0.00
AYI Acuity Inc. Add +31.9% 0.14% +0.00
DNOW Dnow Inc. Add +12.2% 0.12% −0.00
WGO Winnebago Industries Add +26.6% 0.10% −0.00
AMPH Amphastar Pharmaceuticals Inc. Add +21.7% 0.07% −0.01
PLUS Eplus Inc. Add +6.1% 0.17% −0.02
SLM SLM Corp. Add +14.7% 2.50% −0.29
JPM JPMorgan Chase & Co. Add +0.3% 2.83% −0.30

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