PC
Polaris Capital Management, LLC 13F Holdings (84 Positions, Q2 2026)
Polaris Capital Management, LLCCIK: 0001316926
Diversified strategyContrarianQuality / disciplined sizing
Total reported value
$1.1B
Reporting period: 2026-06-30 · Number of holdings: 84
Polaris Capital Management, LLC disclosed 84 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.1B and a quarterly turnover rate of 33.2%.
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Personality snowflake
- Concentration
- 13.8
- Portfolio Stability
- 33.18
- Momentum
- 0
- Sector conviction
- 56.58
- Diversification
- 100
- Sizing Uniformity
- 86.14
Polaris Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.035 — mathematically equivalent to about 29 equally-sized positions, well below its 84 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 1.39), 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.govAdd SW
+19.7% $21.2M
Sold out MKSI
New buy CYTK
Trim UTHR
-44.7% -$28.4M
New buy BKNG
New buy ADBE
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 | 8.19% | +1.07% | -18.34% | |
| 2 | JAZZ | Jazz Pharmaceuticals plc | Stock-Healthcare | 7.47% | +1.05% | -20.80% | |
| 3 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 7.13% | +2.67% | +19.70% | |
| 4 | LIN | Linde plc | Stock-Materials | 4.88% | -0.17% | -19.96% | |
| 5 | LNTH | Lantheus Holdings Inc | Stock-Healthcare | 4.44% | +0.61% | -31.20% | |
| 6 | ARW | Arrow Electronics Inc | Stock-Tech | 3.93% | +0.57% | -31.72% | |
| 7 | CVS | Cvs Health CORP | Stock-Healthcare | 3.56% | +0.52% | -29.46% | |
| 8 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.78% | -0.05% | -23.19% | |
| 9 | UTHR | United Therapeutics CORP | Stock-Healthcare | 2.73% | -1.96% | -44.70% | |
| 10 | SLM | Slm CORP | Stock-Financials | 2.63% | +0.13% | -24.59% | |
| 11 | IBOC | International Bancshares Crp | Stock-Other | 2.30% | -0.25% | -30.65% | |
| 12 | MPC | Marathon Petroleum CORP | Stock-Energy | 2.25% | -0.86% | -40.01% | |
| 13 | EMN | Eastman Chemical Co | Stock-Materials | 2.15% | -0.79% | -27.84% | |
| 14 | CYTK | Cytokinetics Inc | Stock-Healthcare | 2.14% | +2.14% | NEW | |
| 15 | INGR | Ingredion Inc | Stock-Consumer Staples | 2.02% | -0.10% | -1.44% | |
| 16 | WBS | Webster Financial CORP | Stock-Financials | 1.99% | -0.81% | -43.82% | |
| 17 | CFR | Cullen/frost Bankers Inc | Stock-Financials | 1.94% | -0.35% | -34.66% | |
| 18 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 1.88% | +1.88% | NEW | |
| 19 | NOMD | Nomad Foods Limited | Stock-Other | 1.84% | +0.19% | -15.18% | |
| 20 | GILD | Gilead Sciences Inc | Stock-Healthcare | 1.82% | -1.06% | -39.21% | |
| 21 | CB | Chubb Limited | Stock-Financials | 1.77% | -0.54% | -36.39% | |
| 22 | ALSN | Allison Transmission Holding | Stock-Consumer Disc | 1.75% | -0.73% | -36.23% | |
| 23 | WMB | Williams Cos Inc | Stock-Energy | 1.74% | -0.64% | -37.63% | |
| 24 | MTB | M & T Bank CORP | Stock-Financials | 1.71% | -0.36% | -37.68% | |
| 25 | ABBV | Abbvie Inc | Stock-Healthcare | 1.69% | -0.39% | -38.92% | |
| 26 | NEE | Nextera Energy Inc | Stock-Utilities | 1.67% | -0.55% | -30.76% | |
| 27 | GD | General Dynamics CORP | Stock-Industrials | 1.67% | -0.78% | -42.85% | |
| 28 | ELV | Elevance Health Inc | Stock-Healthcare | 1.60% | -0.12% | -38.83% | |
| 29 | ADBE | Adobe Inc | Stock-Tech | 1.59% | +1.59% | NEW | |
| 30 | TSN | Tyson Foods Inc-cl A | Stock-Consumer Staples | 1.56% | -0.81% | -36.10% | |
| 31 | GLPI | Gaming And Leisure Propertie | Stock-Real Estate | 1.41% | -0.55% | -37.98% | |
| 32 | COF | Capital One Financial CORP | Stock-Financials | 1.35% | -0.35% | -37.33% | |
| 33 | LKQ | Lkq CORP | Stock-Consumer Disc | 1.04% | -0.60% | -38.39% | |
| 34 | NBN | Northeast Bank | Stock-Other | 0.57% | +0.14% | -1.72% | |
| 35 | SPFI | South Plains Financial Inc | Stock-Other | 0.51% | +0.12% | +11.11% | |
| 36 | HTB | Hometrust Bancshares Inc | Stock-Other | 0.51% | +0.14% | +2.57% | |
| 37 | OFG | Ofg Bancorp | Stock-Other | 0.50% | +0.14% | +0.09% | |
| 38 | CBK | Commercial Bancgroup Inc | Stock-Other | 0.29% | +0.14% | +35.09% | |
| 39 | PEBO | Peoples Bancorp Inc | Stock-Other | 0.29% | +0.12% | +23.34% | |
| 40 | BFST | Business First Bancshares | Stock-Other | 0.28% | +0.10% | +19.17% | |
| 41 | BHB | Bar Harbor Bankshares | Stock-Other | 0.28% | +0.09% | +14.14% | |
| 42 | CVLG | Covenant Logistics Group Inc | Stock-Other | 0.28% | +0.11% | -12.03% | |
| 43 | CHCO | City Holding Co | Stock-Other | 0.28% | +0.09% | +16.76% | |
| 44 | INDB | Independent Bank Corp/ma | Stock-Other | 0.28% | +0.08% | +8.63% | |
| 45 | SSB | Southstate Bank CORP | Stock-Financials | 0.27% | +0.27% | NEW | |
| 46 | AYI | Acuity Inc | Stock-Industrials | 0.26% | +0.12% | +16.13% | |
| 47 | AVT | Avnet Inc | Stock-Tech | 0.25% | +0.09% | -9.01% | |
| 48 | ✓ | Bank Of Nt Butterfield&son L | Stock-Other | 0.24% | +0.04% | -4.17% | |
| 49 | NTST | Netstreit CORP | Stock-Other | 0.24% | +0.07% | +9.92% | |
| 50 | SBSI | Southside Bancshares Inc | Stock-Other | 0.23% | +0.07% | +11.46% |
1–50 of 84
Portfolio Performance
Performance for Q3 2026
+6.3%
Performance Last 4 Quarters
+27.1%
- Stdev
- +13.8%
- Beta
- +0.72
- Alpha
- +4.2%
- Max Drawdown
- -9.4%
- Annualized Perf
- +19.1%
- Batting Avg vs S&P
- +50%
- Sortino
- +2.6
- Stutzer
- +0.39
- Treynor
- +0.26
- Sterling
- +1.18
- Calmar
- +2.03
- Information Ratio
- -0.14
- Tracking Error
- +10.8%
- Stdev Down
- +7.1%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +35%
- Worst 12 Months
- +3.7%
- Efficiency Ratio
- +0.54
- Sharpe
- +1.34
- Stdev Sectors
- +9.4%
- Skewness
- -0.23
- Kurtosis
- -0.94
- Upside Potential
- +4.27
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 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 2026-06-30: Sold out: Mks Inc (MKSI); New buy: Cytokinetics Inc (CYTK); New buy: Booking Holdings Inc (BKNG); New buy: Adobe Inc (ADBE); New buy: Southstate Bank CORP (SSB).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SW | Smurfit Westrock Plc | +2.7% | +19.70% | Add |
| 2 | CYTK | Cytokinetics Inc | +2.1% | NEW | New buy |
| 3 | BKNG | Booking Holdings Inc | +1.9% | NEW | New buy |
| 4 | ADBE | Adobe Inc | +1.6% | NEW | New buy |
| 5 | BPOP | Popular Inc | +1.1% | -18.34% | Trim |
| 6 | JAZZ | Jazz Pharmaceuticals plc | +1.1% | -20.80% | Trim |
| 7 | LNTH | Lantheus Holdings Inc | +0.6% | -31.20% | Trim |
| 8 | ARW | Arrow Electronics Inc | +0.6% | -31.72% | Trim |
| 9 | CVS | Cvs Health CORP | +0.5% | -29.46% | Trim |
| 10 | SSB | Southstate Bank CORP | +0.3% | NEW | New buy |
| 11 | NOMD | Nomad Foods Limited | +0.2% | -15.18% | Trim |
| 12 | ITRI | Itron Inc | +0.2% | NEW | New buy |
| 13 | BDC | Belden Inc | +0.2% | NEW | New buy |
| 14 | CBK | Commercial Bancgroup Inc | +0.1% | +35.09% | Add |
| 15 | OFG | Ofg Bancorp | +0.1% | +0.09% | Add |
| 16 | HTB | Hometrust Bancshares Inc | +0.1% | +2.57% | Add |
| 17 | NBN | Northeast Bank | +0.1% | -1.72% | Trim |
| 18 | SLM | Slm CORP | +0.1% | -24.59% | Trim |
| 19 | AYI | Acuity Inc | +0.1% | +16.13% | Add |
| 20 | PEBO | Peoples Bancorp Inc | +0.1% | +23.34% | Add |
| 21 | SPFI | South Plains Financial Inc | +0.1% | +11.11% | Add |
| 22 | BBSI | Barrett Business Svcs Inc | +0.1% | +75.65% | Add |
| 23 | CVLG | Covenant Logistics Group Inc | +0.1% | -12.03% | Trim |
| 24 | BFST | Business First Bancshares | +0.1% | +19.17% | Add |
| 25 | AUGO | Aura Minerals Inc. | +0.1% | NEW | New buy |
| 26 | BHB | Bar Harbor Bankshares | +0.1% | +14.14% | Add |
| 27 | CHCO | City Holding Co | +0.1% | +16.76% | Add |
| 28 | AVT | Avnet Inc | +0.1% | -9.01% | Trim |
| 29 | INDB | Independent Bank Corp/ma | +0.1% | +8.63% | Add |
| 30 | SBSI | Southside Bancshares Inc | +0.1% | +11.46% | Add |
| 31 | NTST | Netstreit CORP | +0.1% | +9.92% | Add |
| 32 | NMIH | Nmi Holdings Inc | +0.1% | +13.91% | Add |
| 33 | AIT | Applied Industrial Tech Inc | +0.1% | -5.26% | Trim |
| 34 | AVBC | Avidia Bancorp Inc | +0.1% | +56.50% | Add |
| 35 | HNI | Hni CORP | +0.1% | +12.94% | Add |
| 36 | EXP | Eagle Materials Inc | +0.1% | +7.87% | Add |
| 37 | CSL | Carlisle Cos Inc | +0.1% | +12.55% | Add |
| 38 | PLUS | Eplus Inc | +0.1% | — | Unchanged |
| 39 | PECO | Phillips Edison & Company In | +0.1% | -1.68% | Trim |
| 40 | HRMY | Harmony Biosciences Holdings | 0% | — | Unchanged |
| 41 | EXEL | Exelixis Inc | 0% | — | Unchanged |
| 42 | DNOW | Dnow Inc | 0% | +7.77% | Add |
| 43 | PDD | Pdd Holdings Inc | 0% | +57.35% | Add |
| 44 | CBT | Cabot CORP | 0% | -7.73% | Trim |
| 45 | ✓ | Bank Of Nt Butterfield&son L | 0% | -4.17% | Trim |
| 46 | SBRA | Sabra Health Care Reit Inc | 0% | +7.43% | Add |
| 47 | BKE | Buckle Inc/the | 0% | +30.55% | Add |
| 48 | VVX | V2x Inc | 0% | -3.51% | Trim |
| 49 | BOKF | Bok Financial Corporation | 0% | -4.40% | Trim |
| 50 | EPRT | Essential Properties Realty | 0% | +8.23% | Add |
1–50 of 91
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 (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.1B, spread across 84 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) — $86.9M (8.2%)
2. Jazz Pharmaceuticals plc (JAZZ) — $79.3M (7.5%)
3. Smurfit Westrock Plc (SW) — $75.7M (7.1%)
4. Linde plc (LIN) — $51.7M (4.9%)
5. Lantheus Holdings Inc (LNTH) — $47.1M (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 80 notable position adjustments: 7 new positions were initiated, 24 existing holdings were added to, 42 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Mks Inc (MKSI); New buy: Cytokinetics Inc (CYTK); New buy: Booking Holdings Inc (BKNG); New buy: Adobe Inc (ADBE); New buy: Southstate Bank CORP (SSB)
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: 29.1%
• Financials: 26.0%
• Consumer Discretionary: 13.6%
• Materials: 8.5%
• Information Technology: 6.9%
• Energy: 4.7%
Investment Profile
Polaris Capital Management, LLC returned an annualized 19.1% over the trailing 36 months — outperforming the S&P 500 by 4.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.72 (less volatile than the market) and a 50% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 33 over the past 4 quarters — a shift toward more active trading.
It has added to its LNTH position over the past two quarters (+$11.3M, now $47.1M), while trimming GD over the same stretch (-$12.4M, still holding $17.7M).
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Developer Access
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REST API
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