CIK: 0001316926
Total reported value
$1.2B
Reporting period: 2026-03-31 · Number of holdings: 84
Polaris Capital Management, LLC disclosed 84 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.2B and a quarterly turnover rate of 17.7%.
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Polaris Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.032 — mathematically equivalent to about 31 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 1.32), 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.
Sector classification currently covers about 17% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim MKSI
-49.2% -$11.4M
Add MPC
-4.9% $11.4M
Add LNTH
+14.7% $11.0M
Trim NOMD
-9.7% -$8.9M
Add ARW
-3.0% $8.6M
Trim 14040h105
-1.2% -$7.1M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BPOP | Popular INC | Stock-Financials | 7.12% | +0.07% | -5.01% | |
| 2 | JAZZ | Jazz Pharmaceuticals plc | Stock-Healthcare | 6.42% | +0.32% | -3.95% | |
| 3 | LIN | Linde plc | Stock-Materials | 5.05% | +0.31% | -6.95% | |
| 4 | UTHR | United Therapeutics CORP | Stock-Healthcare | 4.69% | +0.50% | -6.75% | |
| 5 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 4.46% | -0.18% | -5.60% | |
| 6 | LNTH | Lantheus Holdings INC | Stock-Healthcare | 3.83% | +0.86% | +14.68% | |
| 7 | ARW | Arrow Electronics INC | Stock-Tech | 3.36% | +0.66% | -2.98% | |
| 8 | MPC | Marathon Petroleum CORP | Stock-Energy | 3.11% | +0.90% | -4.94% | |
| 9 | CVS | Cvs Health CORP | Stock-Healthcare | 3.04% | -0.42% | -1.45% | |
| 10 | EMN | Eastman Chemical Co | Stock-Materials | 2.94% | +2.94% | NEW | |
| 11 | GILD | Gilead Sciences INC | Stock-Healthcare | 2.88% | +0.18% | -4.87% | |
| 12 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.83% | -0.30% | +0.25% | |
| 13 | WBS | Webster Financial CORP | Stock-Financials | 2.80% | +0.10% | -4.65% | |
| 14 | IBOC | International Bancshares Crp | Stock-Other | 2.55% | -0.08% | -3.00% | |
| 15 | MKSI | Mks INC | Stock-Tech | 2.53% | -0.98% | -49.19% | |
| 16 | SLM | Slm CORP | Stock-Financials | 2.50% | -0.30% | +14.73% | |
| 17 | ALSN | Allison Transmission Holding | Stock-Consumer Disc | 2.48% | +0.30% | -3.72% | |
| 18 | GD | General Dynamics CORP | Stock-Industrials | 2.45% | — | -2.35% | |
| 19 | WMB | Williams Cos INC | Stock-Energy | 2.38% | +0.33% | -3.06% | |
| 20 | TSN | Tyson Foods Inc-cl A | Stock-Consumer Staples | 2.37% | +0.07% | -4.43% | |
| 21 | CB | Chubb Limited | Stock-Financials | 2.31% | — | -5.05% | |
| 22 | CFR | Cullen/frost Bankers INC | Stock-Financials | 2.29% | +0.04% | -4.90% | |
| 23 | NEE | Nextera Energy INC | Stock-Utilities | 2.22% | +0.16% | -5.69% | |
| 24 | INGR | Ingredion INC | Stock-Consumer Staples | 2.12% | +0.09% | +3.56% | |
| 25 | ABBV | Abbvie INC | Stock-Healthcare | 2.08% | -0.19% | -2.59% | |
| 26 | MTB | M & T Bank CORP | Stock-Financials | 2.07% | — | -2.70% | |
| 27 | GLPI | Gaming And Leisure Propertie | Stock-Real Estate | 1.96% | +0.09% | +6.93% | |
| 28 | ELV | Elevance Health INC | Stock-Healthcare | 1.72% | -0.43% | -3.11% | |
| 29 | ✓ | Capital One Financial Corporation | Stock-Other | 1.70% | -0.61% | -1.22% | |
| 30 | NOMD | Nomad Foods Limited | Stock-Other | 1.65% | -0.77% | -9.74% | |
| 31 | LKQ | Lkq CORP | Stock-Consumer Disc | 1.64% | -0.13% | -3.46% | |
| 32 | NBN | Northeast Bank | Stock-Other | 0.43% | — | -1.89% | |
| 33 | SPFI | South Plains Financial INC | Stock-Other | 0.39% | — | -6.28% | |
| 34 | HTB | Hometrust Bancshares INC | Stock-Other | 0.37% | — | — | |
| 35 | OFG | Ofg Bancorp | Stock-Other | 0.36% | — | — | |
| 36 | LAUR | Laureate Education INC | Stock-Other | 0.20% | — | — | |
| 37 | INDB | Independent Bank Corp/ma | Stock-Other | 0.20% | — | — | |
| 38 | IMKTA | Ingles Markets Inc-class A | Stock-Other | 0.20% | — | -16.42% | |
| 39 | ✓ | Stock-Other | 0.20% | — | — | ||
| 40 | SSBUSD | Southstate Bank CORP | Stock-Other | 0.20% | — | — | |
| 41 | VVX | V2x INC | Stock-Other | 0.19% | +0.04% | +1.18% | |
| 42 | BKH | Black Hills CORP | Stock-Utilities | 0.19% | — | — | |
| 43 | BOKF | Bok Financial Corporation | Stock-Other | 0.19% | — | — | |
| 44 | CHCO | City Holding Co | Stock-Other | 0.19% | — | -8.18% | |
| 45 | BHB | Bar Harbor Bankshares | Stock-Other | 0.19% | — | — | |
| 46 | PRDO | Perdoceo Education CORP | Stock-Other | 0.18% | +0.03% | — | |
| 47 | CVI | Cvr Energy INC | Stock-Other | 0.18% | +0.04% | — | |
| 48 | EBF | Ennis INC | Stock-Other | 0.18% | — | — | |
| 49 | BFST | Business First Bancshares | Stock-Other | 0.18% | — | — | |
| 50 | CBT | Cabot CORP | Stock-Materials | 0.18% | +0.05% | +19.77% |
Performance for Q3 2026
+11.3%
Performance Last 4 Quarters
+43.3%
Based on 65% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 84 | $1.2B | 18 | |
| 2025-12-31 | 89 | $1.2B | 26 | |
| 2025-09-30 | 90 | $1.5B | 35 | |
| 2025-06-30 | 92 | $1.5B | 0 | |
| 2025-03-31 | 91 | $1.7B | 100 | |
| 2024-12-31 | 96 | $2.1B | 0 | |
| 2024-09-30 | 92 | $2.0B | 0 | |
| 2024-06-30 | 95 | $1.9B | 0 | |
| 2024-03-31 | 92 | $2.0B | 0 | |
| 2023-12-31 | 93 | $2.1B | 0 | |
| 2023-09-30 | 92 | $1.9B | 0 | |
| 2023-06-30 | 92 | $2.7B | 0 | |
| 2023-03-31 | 95 | $2.7B | 0 | |
| 2022-12-31 | 96 | $2.9B | 0 | |
| 2022-09-30 | 100 | $2.5B | 0 | |
| 2022-06-30 | 102 | $2.8B | 0 | |
| 2022-03-31 | 109 | $3.1B | 0 | |
| 2021-12-31 | 104 | $3.1B | 0 | |
| 2021-09-30 | 102 | $3.1B | 0 | |
| 2021-06-30 | 103 | $3.1B | 99 | |
| 2021-03-31 | 102 | $3.0B | 23 | |
| 2020-12-31 | 100 | $2.7B | 34 | |
| 2020-09-30 | 100 | $2.0B | 44 | |
| 2020-06-30 | 102 | $2.0B | 39 | |
| 2020-03-31 | 102 | $1.7B | 71 | |
| 2019-12-31 | 88 | $2.4B | 29 | |
| 2019-09-30 | 83 | $2.2B | 12 | |
| 2019-06-30 | 83 | $2.4B | 17 | |
| 2019-03-31 | 84 | $2.4B | 13 | |
| 2018-12-31 | 86 | $2.2B | 28 | |
| 2018-09-30 | 85 | $2.3B | 11 | |
| 2018-06-30 | 86 | $2.2B | 29 | |
| 2018-03-31 | 87 | $2.7B | 38 | |
| 2017-12-31 | 87 | $2.1B | 22 | |
| 2017-09-30 | 88 | $1.8B | 21 | |
| 2017-06-30 | 87 | $1.7B | 42 | |
| 2017-03-31 | 90 | $1.4B | 18 | |
| 2016-12-31 | 90 | $1.5B | 29 | |
| 2016-09-30 | 98 | $1.3B | 22 | |
| 2016-06-30 | 97 | $1.2B | 9 | |
| 2016-03-31 | 101 | $1.2B | 31 | |
| 2015-12-31 | 100 | $987.6M | 25 | |
| 2015-09-30 | 108 | $825.8M | 14 | |
| 2015-06-30 | 107 | $814.8M | 23 | |
| 2015-03-31 | 104 | $716.1M | 25 | |
| 2014-12-31 | 51 | $596.6M | 100 | |
| 2014-09-30 | 52 | $492.3M | 22 | |
| 2014-06-30 | 49 | $443.3M | 20 | |
| 2014-03-31 | 54 | $432.7M | 14 | |
| 2013-12-31 | 55 | $400.3M | 66 | |
| 2013-09-30 | 54 | $468.6M | 100 | 1US05542US45673US8816 |
| 2013-06-30 | 54 | $1.8B | 0 | 1US88162US45673US0554 |
Polaris Capital Management, LLC's most significant position changes for 2026-03-31: New buy: Eastman Chemical Co (EMN); Sold out: Sally Beauty Holdings INC (SBH); Sold out: Unitedhealth Group INC (UNH); Sold out: Evertec INC (EVTC); Sold out: Abercrombie & Fitch Co-cl A (ANF).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MPC | Marathon Petroleum CORP | +0.9% | -4.94% | Trim |
| 2 | LNTH | Lantheus Holdings INC | +0.9% | +14.68% | Add |
| 3 | ARW | Arrow Electronics INC | +0.7% | -2.98% | Trim |
| 4 | UTHR | United Therapeutics CORP | +0.5% | -6.75% | Trim |
| 5 | WMB | Williams Cos INC | +0.3% | -3.06% | Trim |
| 6 | JAZZ | Jazz Pharmaceuticals plc | +0.3% | -3.95% | Trim |
| 7 | LIN | Linde plc | +0.3% | -6.95% | Trim |
| 8 | ALSN | Allison Transmission Holding | +0.3% | -3.72% | Trim |
| 9 | GILD | Gilead Sciences INC | +0.2% | -4.87% | Trim |
| 10 | NEE | Nextera Energy INC | +0.2% | -5.69% | Trim |
| 11 | WBS | Webster Financial CORP | +0.1% | -4.65% | Trim |
| 12 | INGR | Ingredion INC | +0.1% | +3.56% | Add |
| 13 | GLPI | Gaming And Leisure Propertie | +0.1% | +6.93% | Add |
| 14 | NMIH | Nmi Holdings INC | +0.1% | +139.71% | Add |
| 15 | BPOP | Popular INC | +0.1% | -5.01% | Trim |
| 16 | TSN | Tyson Foods Inc-cl A | +0.1% | -4.43% | Trim |
| 17 | CVLG | Covenant Logistics Group INC | +0.1% | +34.93% | Add |
| 18 | PDD | Pdd Holdings INC | +0.1% | +138.60% | Add |
| 19 | CBT | Cabot CORP | +0.1% | +19.77% | Add |
| 20 | CFR | Cullen/frost Bankers INC | 0% | -4.90% | Trim |
| 21 | CVI | Cvr Energy INC | 0% | — | Unchanged |
| 22 | CSL | Carlisle Cos INC | 0% | +40.26% | Add |
| 23 | FANG | Diamondback Energy INC | 0% | — | Unchanged |
| 24 | VVX | V2x INC | 0% | +1.18% | Add |
| 25 | BKE | Buckle Inc/the | 0% | +42.73% | Add |
| 26 | ANIP | Ani Pharmaceuticals INC | 0% | +60.82% | Add |
| 27 | PRDO | Perdoceo Education CORP | 0% | — | Unchanged |
| 28 | EEFT | Euronet Worldwide INC | -0.1% | -58.33% | Trim |
| 29 | BBSI | Barrett Business Svcs INC | -0.1% | -20.62% | Trim |
| 30 | PRGS | Progress Software CORP | -0.1% | -25.95% | Trim |
| 31 | IBOC | International Bancshares Crp | -0.1% | -3.00% | Trim |
| 32 | LKQ | Lkq CORP | -0.1% | -3.46% | Trim |
| 33 | SW | Smurfit Westrock Plc | -0.2% | -5.60% | Trim |
| 34 | ABBV | Abbvie INC | -0.2% | -2.59% | Trim |
| 35 | JPM | Jpmorgan Chase & Co | -0.3% | +0.25% | Add |
| 36 | SLM | Slm CORP | -0.3% | +14.73% | Add |
| 37 | CVS | Cvs Health CORP | -0.4% | -1.45% | Trim |
| 38 | ELV | Elevance Health INC | -0.4% | -3.11% | Trim |
| 39 | ✓ | Capital One Financial Corporation | -0.6% | -1.22% | Trim |
| 40 | NOMD | Nomad Foods Limited | -0.8% | -9.74% | Trim |
| 41 | MKSI | Mks INC | -1% | -49.19% | Trim |
| 42 | EMN | Eastman Chemical Co | — | NEW | New buy |
| 43 | SBH | Sally Beauty Holdings INC | — | EXIT | Sold out |
| 44 | UNH | Unitedhealth Group INC | — | EXIT | Sold out |
| 45 | EVTC | Evertec INC | — | EXIT | Sold out |
| 46 | ANF | Abercrombie & Fitch Co-cl A | — | EXIT | Sold out |
| 47 | AEO | American Eagle Outfitters | — | EXIT | Sold out |
| 48 | HNI | Hni CORP | — | NEW | New buy |
| 49 | MMS | Maximus INC | — | EXIT | Sold out |
| 50 | GPK | Graphic Packaging Holding Co | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-27 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-29 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-27 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-21 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-29 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-26 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-24 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-07 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-30 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-31 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-03 | Amendment | View on EDGAR |
| 2023-03-31 | 2023-04-28 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-09 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | Amendment | View on EDGAR |
| 2022-06-30 | 2022-08-10 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-11 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-01 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-09 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-10 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-11 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-11 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-12 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-15 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-07 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-12-21 | Amendment | View on EDGAR |
| 2018-09-30 | 2018-11-09 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-07 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-01 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-08 | Amendment | View on EDGAR |
| 2017-12-31 | 2018-02-07 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-15 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-04 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-10 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-06 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-14 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-12 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-13 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-12 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-07 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-13 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-12 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-15 | 13F-HR | View on EDGAR |
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