PC
Polaris Capital Management, LLC 13F Holdings (86 Positions, Q3 2026)
Polaris Capital Management, LLCCIK: 0001316926
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$953.4M
Reporting period: 2026-09-30 · Number of holdings: 86
Polaris Capital Management, LLC disclosed 86 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $953.4M and a quarterly turnover rate of 22.3%.
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Personality snowflake
- Concentration
- 14.04
- Portfolio Stability
- 22.25
- Momentum
- 100
- Sector conviction
- 54.51
- Diversification
- 100
- Sizing Uniformity
- 85.71
Polaris Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.035 — mathematically equivalent to about 28 equally-sized positions, well below its 86 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.43), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out WBS
New buy REGN
New buy G
Sold out GILD
Add MPC
-7.5% $10.3M
Trim NOMD
-62.2% -$12.6M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BPOP | Popular Inc | Stock-Financials | 8.27% | +0.08% | -4.21% | |
| 2 | JAZZ | Jazz Pharmaceuticals plc | Stock-Healthcare | 7.78% | +0.31% | -2.58% | |
| 3 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 6.89% | -0.24% | -8.90% | |
| 4 | LIN | Linde plc | Stock-Materials | 4.97% | +0.09% | +0.10% | |
| 5 | ARW | Arrow Electronics Inc | Stock-Tech | 4.39% | +0.46% | -5.88% | |
| 6 | LNTH | Lantheus Holdings Inc | Stock-Healthcare | 4.13% | -0.31% | -6.74% | |
| 7 | MPC | Marathon Petroleum CORP | Stock-Energy | 3.59% | +1.34% | -7.49% | |
| 8 | CVS | Cvs Health CORP | Stock-Healthcare | 3.11% | -0.45% | -5.37% | |
| 9 | JPM | Jpmorgan Chase & Co | Stock-Financials | 3.00% | +0.22% | -4.32% | |
| 10 | UTHR | United Therapeutics CORP | Stock-Healthcare | 2.78% | +0.05% | -8.42% | |
| 11 | SLM | Slm CORP | Stock-Financials | 2.45% | -0.18% | -4.35% | |
| 12 | CYTK | Cytokinetics Inc | Stock-Healthcare | 2.39% | +0.25% | +29.67% | |
| 13 | INGR | Ingredion Inc | Stock-Consumer Staples | 2.20% | +0.18% | -3.40% | |
| 14 | IBOC | International Bancshares Crp | Stock-Other | 2.19% | -0.11% | -4.89% | |
| 15 | CFR | Cullen/frost Bankers Inc | Stock-Financials | 2.01% | +0.07% | -6.00% | |
| 16 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 1.99% | +1.99% | NEW | |
| 17 | ADBE | Adobe Inc | Stock-Tech | 1.92% | +0.33% | -7.35% | |
| 18 | ALSN | Allison Transmission Holding | Stock-Consumer Disc | 1.85% | +0.10% | -5.64% | |
| 19 | G | Genpact Limited | Stock-Tech | 1.85% | +1.85% | NEW | |
| 20 | ABBV | Abbvie Inc | Stock-Healthcare | 1.82% | +0.13% | -6.83% | |
| 21 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 1.78% | -0.10% | -6.97% | |
| 22 | CB | Chubb Limited | Stock-Financials | 1.76% | -0.01% | -6.50% | |
| 23 | ELV | Elevance Health Inc | Stock-Healthcare | 1.68% | +0.08% | -6.16% | |
| 24 | EMN | Eastman Chemical Co | Stock-Materials | 1.67% | -0.48% | -27.92% | |
| 25 | GD | General Dynamics CORP | Stock-Industrials | 1.64% | -0.03% | -5.41% | |
| 26 | WMB | Williams Cos Inc | Stock-Energy | 1.64% | -0.10% | -7.48% | |
| 27 | MTB | M & T Bank CORP | Stock-Financials | 1.62% | -0.09% | -7.20% | |
| 28 | NEE | Nextera Energy Inc | Stock-Utilities | 1.52% | -0.15% | -5.30% | |
| 29 | TSN | Tyson Foods Inc-cl A | Stock-Consumer Staples | 1.45% | -0.11% | -5.27% | |
| 30 | COF | Capital One Financial CORP | Stock-Financials | 1.37% | +0.02% | -4.91% | |
| 31 | GLPI | Gaming And Leisure Propertie | Stock-Real Estate | 0.82% | -0.59% | -38.82% | |
| 32 | NOMD | Nomad Foods Limited | Stock-Other | 0.73% | -1.11% | -62.20% | |
| 33 | LKQ | Lkq CORP | Stock-Consumer Disc | 0.62% | -0.42% | -38.31% | |
| 34 | NBN | Northeast Bank | Stock-Other | 0.58% | +0.01% | -3.06% | |
| 35 | OFG | Ofg Bancorp | Stock-Other | 0.56% | +0.06% | -0.56% | |
| 36 | SPFI | South Plains Financial Inc | Stock-Other | 0.53% | +0.02% | -3.97% | |
| 37 | HTB | Hometrust Bancshares Inc | Stock-Other | 0.50% | -0.01% | -4.18% | |
| 38 | CHCO | City Holding Co | Stock-Other | 0.33% | +0.05% | — | |
| 39 | BHB | Bar Harbor Bankshares | Stock-Other | 0.32% | +0.04% | — | |
| 40 | BFST | Business First Bancshares | Stock-Other | 0.31% | +0.03% | — | |
| 41 | CBK | Commercial Bancgroup Inc | Stock-Other | 0.31% | +0.02% | -1.26% | |
| 42 | PEBO | Peoples Bancorp Inc | Stock-Other | 0.31% | +0.02% | — | |
| 43 | SSB | Southstate Bank CORP | Stock-Financials | 0.30% | +0.03% | — | |
| 44 | INDB | Independent Bank Corp/ma | Stock-Other | 0.29% | +0.01% | — | |
| 45 | PDD | Pdd Holdings Inc | Stock-Consumer Disc | 0.29% | +0.14% | +63.55% | |
| 46 | CVI | Cvr Energy Inc | Stock-Other | 0.28% | +0.11% | -22.39% | |
| 47 | AVT | Avnet Inc | Stock-Tech | 0.27% | +0.02% | -11.26% | |
| 48 | PLUS | Eplus Inc | Stock-Other | 0.26% | +0.04% | — | |
| 49 | AIT | Applied Industrial Tech Inc | Stock-Industrials | 0.25% | +0.02% | — | |
| 50 | WAY | Waystar Holding CORP | Stock-Other | 0.25% | +0.25% | NEW |
1–50 of 86
Portfolio Performance
Performance for Q4 2026
-3.5%
Performance Last 4 Quarters
+26%
- Stdev
- +13.7%
- Beta
- +0.7
- Alpha
- +3.9%
- Max Drawdown
- -9.4%
- Annualized Perf
- +20.4%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.75
- Stutzer
- +0.41
- Treynor
- +0.28
- Sterling
- +1.22
- Calmar
- +2.17
- Information Ratio
- -0.24
- Tracking Error
- +11.3%
- Stdev Down
- +7.1%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +35.1%
- Worst 12 Months
- +3.7%
- Efficiency Ratio
- +0.58
- Sharpe
- +1.43
- Stdev Sectors
- +9%
- Skewness
- -0.31
- Kurtosis
- -0.84
- Upside Potential
- +4.36
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 86 | $953.4M | 22 | ||
| 2026 Q2 | 84 | $1.1B | 33 | ||
| 2026 Q1 | 84 | $1.2B | 18 | ||
| 2025 Q4 | 89 | $1.2B | 26 | ||
| 2025 Q3 | 90 | $1.5B | 35 | ||
| 2025 Q2 | 92 | $1.5B | 0 | ||
| 2025 Q1 | 91 | $1.7B | 100 | ||
| 2024 Q4 | 96 | $2.1B | 0 | ||
| 2024 Q3 | 92 | $2.0B | 0 | ||
| 2024 Q2 | 95 | $1.9B | 0 | ||
| 2024 Q1 | 92 | $2.0B | 0 | ||
| 2023 Q4 | 93 | $2.1B | 0 | ||
| 2023 Q3 | 92 | $1.9B | 0 | ||
| 2023 Q2 | 92 | $2.7B | 0 | ||
| 2023 Q1 | 95 | $2.7B | 0 | ||
| 2022 Q4 | 96 | $2.9B | 0 | ||
| 2022 Q3 | 100 | $2.5B | 0 | ||
| 2022 Q2 | 102 | $2.8B | 0 | ||
| 2022 Q1 | 109 | $3.1B | 0 | ||
| 2021 Q4 | 104 | $3.1B | 0 | ||
| 2021 Q3 | 102 | $3.1B | 0 | ||
| 2021 Q2 | 103 | $3.1B | 99 | ||
| 2021 Q1 | 102 | $3.0B | 23 | ||
| 2020 Q4 | 100 | $2.7B | 34 | ||
| 2020 Q3 | 100 | $2.0B | 44 | ||
| 2020 Q2 | 102 | $2.0B | 39 | ||
| 2020 Q1 | 102 | $1.7B | 71 | ||
| 2019 Q4 | 88 | $2.4B | 29 | ||
| 2019 Q3 | 83 | $2.2B | 12 | ||
| 2019 Q2 | 83 | $2.4B | 17 | ||
| 2019 Q1 | 84 | $2.4B | 13 | ||
| 2018 Q4 | 86 | $2.2B | 28 | ||
| 2018 Q3 | 85 | $2.3B | 11 | ||
| 2018 Q2 | 86 | $2.2B | 29 | ||
| 2018 Q1 | 87 | $2.7B | 38 | ||
| 2017 Q4 | 87 | $2.1B | 22 | ||
| 2017 Q3 | 88 | $1.8B | 21 | ||
| 2017 Q2 | 87 | $1.7B | 42 | ||
| 2017 Q1 | 90 | $1.4B | 18 | ||
| 2016 Q4 | 90 | $1.5B | 29 | ||
| 2016 Q3 | 98 | $1.3B | 22 | ||
| 2016 Q2 | 97 | $1.2B | 9 | ||
| 2016 Q1 | 101 | $1.2B | 31 | ||
| 2015 Q4 | 100 | $987.6M | 25 | ||
| 2015 Q3 | 108 | $825.8M | 14 | ||
| 2015 Q2 | 107 | $814.8M | 23 | ||
| 2015 Q1 | 104 | $716.1M | 25 | ||
| 2014 Q4 | 51 | $596.6M | 100 | ||
| 2014 Q3 | 52 | $492.3M | 22 | ||
| 2014 Q2 | 49 | $443.3M | 20 | ||
| 2014 Q1 | 54 | $432.7M | 14 | ||
| 2013 Q4 | 55 | $400.3M | 66 | ||
| 2013 Q3 | 54 | $468.6M | 100 | 1US05542US45673US8816 | |
| 2013 Q2 | 54 | $1.8B | 0 | 1US88162US45673US0554 |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Holding changes this quarter
Polaris Capital Management, LLC's most significant position changes for 2026-09-30: Sold out: Webster Financial CORP (WBS); Sold out: Gilead Sciences Inc (GILD); New buy: Regeneron Pharmaceuticals (REGN); New buy: Genpact Limited (G); New buy: Waystar Holding CORP (WAY).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | REGN | Regeneron Pharmaceuticals | +2% | NEW | New buy |
| 2 | G | Genpact Limited | +1.9% | NEW | New buy |
| 3 | MPC | Marathon Petroleum CORP | +1.3% | -7.49% | Trim |
| 4 | ARW | Arrow Electronics Inc | +0.5% | -5.88% | Trim |
| 5 | ADBE | Adobe Inc | +0.3% | -7.35% | Trim |
| 6 | JAZZ | Jazz Pharmaceuticals plc | +0.3% | -2.58% | Trim |
| 7 | WAY | Waystar Holding CORP | +0.3% | NEW | New buy |
| 8 | CYTK | Cytokinetics Inc | +0.3% | +29.67% | Add |
| 9 | LMB | Limbach Holdings Inc | +0.2% | NEW | New buy |
| 10 | JPM | Jpmorgan Chase & Co | +0.2% | -4.32% | Trim |
| 11 | INGR | Ingredion Inc | +0.2% | -3.40% | Trim |
| 12 | PDD | Pdd Holdings Inc | +0.1% | +63.55% | Add |
| 13 | HCI | Hci Group Inc | +0.1% | NEW | New buy |
| 14 | ABBV | Abbvie Inc | +0.1% | -6.83% | Trim |
| 15 | CVI | Cvr Energy Inc | +0.1% | -22.39% | Trim |
| 16 | ALSN | Allison Transmission Holding | +0.1% | -5.64% | Trim |
| 17 | LIN | Linde plc | +0.1% | +0.10% | Add |
| 18 | BPOP | Popular Inc | +0.1% | -4.21% | Trim |
| 19 | ELV | Elevance Health Inc | +0.1% | -6.16% | Trim |
| 20 | CFR | Cullen/frost Bankers Inc | +0.1% | -6.00% | Trim |
| 21 | AUGO | Aura Minerals Inc. | +0.1% | +17.42% | Add |
| 22 | OFG | Ofg Bancorp | +0.1% | -0.56% | Trim |
| 23 | UTHR | United Therapeutics CORP | +0.1% | -8.42% | Trim |
| 24 | CHCO | City Holding Co | +0.1% | — | Unchanged |
| 25 | AMPH | Amphastar Pharmaceuticals In | 0% | — | Unchanged |
| 26 | HNI | Hni CORP | 0% | — | Unchanged |
| 27 | PLUS | Eplus Inc | 0% | — | Unchanged |
| 28 | LAUR | Laureate Education Inc | 0% | — | Unchanged |
| 29 | BHB | Bar Harbor Bankshares | 0% | — | Unchanged |
| 30 | PRGS | Progress Software CORP | 0% | — | Unchanged |
| 31 | DNOW | Dnow Inc | 0% | -9.51% | Trim |
| 32 | FANG | Diamondback Energy Inc | 0% | — | Unchanged |
| 33 | BFST | Business First Bancshares | 0% | — | Unchanged |
| 34 | SSB | Southstate Bank CORP | 0% | — | Unchanged |
| 35 | COF | Capital One Financial CORP | 0% | -4.91% | Trim |
| 36 | SPFI | South Plains Financial Inc | 0% | -3.97% | Trim |
| 37 | PEBO | Peoples Bancorp Inc | 0% | — | Unchanged |
| 38 | CBK | Commercial Bancgroup Inc | 0% | -1.26% | Trim |
| 39 | BKH | Black Hills CORP | 0% | +4.03% | Add |
| 40 | AIT | Applied Industrial Tech Inc | 0% | — | Unchanged |
| 41 | AVBC | Avidia Bancorp Inc | 0% | — | Unchanged |
| 42 | HRMY | Harmony Biosciences Holdings | 0% | -5.82% | Trim |
| 43 | ITRI | Itron Inc | 0% | — | Unchanged |
| 44 | AVT | Avnet Inc | 0% | -11.26% | Trim |
| 45 | NBN | Northeast Bank | 0% | -3.06% | Trim |
| 46 | INDB | Independent Bank Corp/ma | 0% | — | Unchanged |
| 47 | BDC | Belden Inc | 0% | +3.42% | Add |
| 48 | EXEL | Exelixis Inc | 0% | -13.69% | Trim |
| 49 | IMKTA | Ingles Markets Inc-class A | 0% | — | Unchanged |
| 50 | VVX | V2x Inc | — | -6.97% | Trim |
1–50 of 89
Filing History
FAQ
What is Polaris Capital Management, LLC and what type of investor is it?
Polaris Capital Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $953.4M, spread across 86 disclosed positions.
What are Polaris Capital Management, LLC's largest equity positions?
Based on the latest 13F filing, Polaris Capital Management, LLC's top holdings by market value are:
1. Popular Inc (BPOP) — $78.8M (8.3%)
2. Jazz Pharmaceuticals plc (JAZZ) — $74.2M (7.8%)
3. Smurfit Westrock Plc (SW) — $65.7M (6.9%)
4. Linde plc (LIN) — $47.4M (5.0%)
5. Arrow Electronics Inc (ARW) — $41.8M (4.4%)
What changes did Polaris Capital Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Polaris Capital Management, LLC made 67 notable position adjustments: 5 new positions were initiated, 7 existing holdings were added to, 52 positions were partially reduced, and 3 were completely exited. The largest of these moves: Sold out: Webster Financial CORP (WBS); Sold out: Gilead Sciences Inc (GILD); New buy: Regeneron Pharmaceuticals (REGN); New buy: Genpact Limited (G); New buy: Waystar Holding CORP (WAY)
What sectors does Polaris Capital Management, LLC focus on?
Polaris Capital Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 29.3%
• Financials: 23.8%
• Consumer Discretionary: 12.9%
• Information Technology: 9.9%
• Materials: 7.9%
• Energy: 6.1%
Investment Profile
Polaris Capital Management, LLC returned an annualized 20.4% over the trailing 36 months — outperforming the S&P 500 by 3.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.70 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
It has added to its PDD position over the past two quarters (+$1.3M, now $2.7M), while trimming UTHR over the same stretch (-$30.8M, still holding $26.5M).
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Developer Access
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REST API
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