# EDGAR Filing Document

**Accession Number:** 0001316926
**File Stem:** 0001144969-26-000004
**Filing Date:** 2026-4
**Character Count:** 12692
**Document Hash:** 954b2c6073394ccd24ba49f54897cfeb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001144969-26-000004.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001144969-26-000004

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**EFFECTIVENESS DATE**: 20260427

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Polaris Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001316926

**ORGANIZATION NAME:**
- **EIN:** 743243565
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11073
- **FILM NUMBER:** 26898419

**BUSINESS ADDRESS:**
- **STREET 1:** 121 HIGH STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110-2475
- **BUSINESS PHONE:** 617-951-1365

**MAIL ADDRESS:**
- **STREET 1:** 121 HIGH STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110-2475

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Polaris Capital Management, Inc.
- **DATE OF NAME CHANGE:** 20050207

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Polaris Capital Management LLC<br>**Address:** 121 HIGH STREET<br>BOSTON, MA 02110-2475

**Form 13F File Number:** 028-11073

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Bernard R. Horn Jr.<br>**Title:** President<br>**Phone:** 6179511365

**Signature, Place, and Date of Signing:**

Bernard R. Horn Jr.  Boston, MA  04-27-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 84

**Form 13F Information Table Value Total:** $1222190003

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                   | Form 13F File Number   |
|:---|:---|:---|
|  | PEAR TREE ADVISORS INC |  |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBVIE INC | CommonStock | 00287Y109 |  | 25376081 | 116677 | SH |  | SOLE |  | 116677 | 0 | 0 |
| ACUITY BRANDS INC | CommonStock | 00508Y102 |  | 1737364 | 6200 | SH |  | SOLE |  | 6200 | 0 | 0 |
| ALLISON TRANSMISSION HOLDING | CommonStock | 01973R101 |  | 30271716 | 258600 | SH |  | SOLE |  | 258600 | 0 | 0 |
| AMPHASTAR PHARMACEUTICALS IN | CommonStock | 03209R103 |  | 846915 | 43232 | SH |  | SOLE |  | 43232 | 0 | 0 |
| ANI PHARMACEUTICALS INC | CommonStock | 00182C103 |  | 1199640 | 15600 | SH |  | SOLE |  | 15600 | 0 | 0 |
| APPLIED INDUSTRIAL TECH INC | CommonStock | 03820C105 |  | 2016432 | 7600 | SH |  | SOLE |  | 7600 | 0 | 0 |
| ARROW ELECTRONICS INC | CommonStock | 042735100 |  | 41101736 | 286603 | SH |  | SOLE |  | 286603 | 0 | 0 |
| AVIDIA BANCORP INC | CommonStock | 05369T100 |  | 786800 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| AVNET INC | CommonStock | 053807103 |  | 1984164 | 32200 | SH |  | SOLE |  | 32200 | 0 | 0 |
| BANK OF N.T. BUTTERFIELD | CommonStock | G0772R208 |  | 2393088 | 45600 | SH |  | SOLE |  | 45600 | 0 | 0 |
| BAR HARBOR BANKSHARES | CommonStock | 066849100 |  | 2271500 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| BARRETT BUSINESS SVCS INC | CommonStock | 068463108 |  | 898744 | 30800 | SH |  | SOLE |  | 30800 | 0 | 0 |
| BLACK HILLS CORP | CommonStock | 092113109 |  | 2339117 | 33700 | SH |  | SOLE |  | 33700 | 0 | 0 |
| BOK FINANCIAL CORPORATION | CommonStock | 05561Q201 |  | 2326082 | 18164 | SH |  | SOLE |  | 18164 | 0 | 0 |
| BUCKLE INC/THE | CommonStock | 118440106 |  | 1796996 | 35683 | SH |  | SOLE |  | 35683 | 0 | 0 |
| BUSINESS FIRST BANCSHARES | CommonStock | 12326C105 |  | 2228096 | 82400 | SH |  | SOLE |  | 82400 | 0 | 0 |
| CABOT CORP | CommonStock | 127055101 |  | 2144302 | 28473 | SH |  | SOLE |  | 28473 | 0 | 0 |
| CAPITAL ONE FINANCIAL CORP | CommonStock | 14040h105 |  | 20732075 | 113644 | SH |  | SOLE |  | 113644 | 0 | 0 |
| CARLISLE COS INC | CommonStock | 142339100 |  | 1643412 | 4926 | SH |  | SOLE |  | 4926 | 0 | 0 |
| CHUBB LTD | CommonStock | H1467J104 |  | 28201093 | 86525 | SH |  | SOLE |  | 86525 | 0 | 0 |
| CITY HOLDING CO | CommonStock | 177835105 |  | 2282234 | 19095 | SH |  | SOLE |  | 19095 | 0 | 0 |
| COMMERCIAL BANCGROUP INC | CommonStock | 20112C106 |  | 1831808 | 70400 | SH |  | SOLE |  | 70400 | 0 | 0 |
| COVENANT LOGISTICS GROUP INC | CommonStock | 22284P105 |  | 2076486 | 76482 | SH |  | SOLE |  | 76482 | 0 | 0 |
| CREDICORP LTD | CommonStock | G2519Y108 |  | 678360 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| CULLEN/FROST BANKERS INC | CommonStock | 229899109 |  | 27964320 | 204000 | SH |  | SOLE |  | 204000 | 0 | 0 |
| CVR ENERGY INC | CommonStock | 12662P108 |  | 2254550 | 67000 | SH |  | SOLE |  | 67000 | 0 | 0 |
| CVS HEALTH CORP | CommonStock | 126650100 |  | 37181214 | 517700 | SH |  | SOLE |  | 517700 | 0 | 0 |
| DIAMONDBACK ENERGY INC | CommonStock | 25278X109 |  | 2110419 | 10670 | SH |  | SOLE |  | 10670 | 0 | 0 |
| DNOW INC | CommonStock | 67011P100 |  | 1441110 | 121000 | SH |  | SOLE |  | 121000 | 0 | 0 |
| EAGLE MATERIALS INC | CommonStock | 26969P108 |  | 1686105 | 8900 | SH |  | SOLE |  | 8900 | 0 | 0 |
| EASTMAN CHEMICAL CO | CommonStock | 277432100 |  | 35992512 | 471600 | SH |  | SOLE |  | 471600 | 0 | 0 |
| ELEVANCE HEALTH INC | CommonStock | 036752103 |  | 20972903 | 71641 | SH |  | SOLE |  | 71641 | 0 | 0 |
| ENNIS INC | CommonStock | 293389102 |  | 2251242 | 105100 | SH |  | SOLE |  | 105100 | 0 | 0 |
| EPLUS INC | CommonStock | 294268107 |  | 2084425 | 27700 | SH |  | SOLE |  | 27700 | 0 | 0 |
| ESSENTIAL PROPERTIES REALTY | CommonStock | 29670E107 |  | 1918752 | 63200 | SH |  | SOLE |  | 63200 | 0 | 0 |
| EURONET WORLDWIDE INC | CommonStock | 298736109 |  | 298665 | 4500 | SH |  | SOLE |  | 4500 | 0 | 0 |
| EXELIXIS INC | CommonStock | 30161Q104 |  | 1128007 | 26300 | SH |  | SOLE |  | 26300 | 0 | 0 |
| FIRST SEACOAST BANCORP INC | CommonStock | 33631F104 |  | 1137145 | 90537 | SH |  | SOLE |  | 90537 | 0 | 0 |
| GAMING AND LEISURE PROPERTIE | CommonStock | 36467J108 |  | 23973111 | 540300 | SH |  | SOLE |  | 540300 | 0 | 0 |
| GENERAL DYNAMICS CORP. | CommonStock | 369550108 |  | 29981640 | 87354 | SH |  | SOLE |  | 87354 | 0 | 0 |
| GILEAD SCIENCES INC | CommonStock | 375558103 |  | 35149114 | 252200 | SH |  | SOLE |  | 252200 | 0 | 0 |
| HARMONY BIOSCIENCES HOLDINGS | CommonStock | 413197104 |  | 1011161 | 36100 | SH |  | SOLE |  | 36100 | 0 | 0 |
| HNI CORP | CommonStock | 404251100 |  | 1315566 | 39400 | SH |  | SOLE |  | 39400 | 0 | 0 |
| HOMETRUST BANCSHARES INC | CommonStock | 437872104 |  | 4478250 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| INDEPENDENT BANK CORP/MA | CommonStock | 453836108 |  | 2439737 | 32439 | SH |  | SOLE |  | 32439 | 0 | 0 |
| INGLES MARKETS INC-CLASS A | CommonStock | 457030104 |  | 2425502 | 26983 | SH |  | SOLE |  | 26983 | 0 | 0 |
| INGREDION INC | CommonStock | 457187102 |  | 25866736 | 229600 | SH |  | SOLE |  | 229600 | 0 | 0 |
| INTERNATIONAL BANCSHARES CORP | CommonStock | 459044103 |  | 31155539 | 463004 | SH |  | SOLE |  | 463004 | 0 | 0 |
| JAZZ PHARMACEUTICALS PLC | CommonStock | G50871105 |  | 78524942 | 415366 | SH |  | SOLE |  | 408166 | 0 | 0 |
| JPMORGAN CHASE  CO | CommonStock | 46625H100 |  | 34579096 | 117552 | SH |  | SOLE |  | 117552 | 0 | 0 |
| KFORCE INC | CommonStock | 493732101 |  | 484127 | 16557 | SH |  | SOLE |  | 16557 | 0 | 0 |
| LANTHEUS HOLDINGS INC | CommonStock | 516544103 |  | 46799450 | 617000 | SH |  | SOLE |  | 617000 | 0 | 0 |
| LAUREATE EDUCATION INC | CommonStock | 518613203 |  | 2501512 | 71800 | SH |  | SOLE |  | 71800 | 0 | 0 |
| LINDE PLC | CommonStock | G54950103 |  | 61763268 | 124583 | SH |  | SOLE |  | 122361 | 0 | 0 |
| LKQ CORP | CommonStock | 501889208 |  | 20059710 | 683000 | SH |  | SOLE |  | 683000 | 0 | 0 |
| M  T BANK CORP | CommonStock | 55261F104 |  | 25342632 | 122594 | SH |  | SOLE |  | 122594 | 0 | 0 |
| MARATHON PETROLEUM CORP | CommonStock | 56585A102 |  | 38051058 | 155832 | SH |  | SOLE |  | 155832 | 0 | 0 |
| MKS INC | CommonStock | 55306N104 |  | 30955407 | 134700 | SH |  | SOLE |  | 134700 | 0 | 0 |
| NETSTREIT CORP | CommonStock | 64119V303 |  | 2031757 | 107900 | SH |  | SOLE |  | 107900 | 0 | 0 |
| NEXTERA ENERGY INC | CommonStock | 65339F101 |  | 27090867 | 291676 | SH |  | SOLE |  | 291676 | 0 | 0 |
| NMI HOLDINGS INC | CommonStock | 629209305 |  | 1834239 | 48900 | SH |  | SOLE |  | 48900 | 0 | 0 |
| NOMAD FOODS LTD | CommonStock | G6564A105 |  | 20207908 | 2102800 | SH |  | SOLE |  | 2070700 | 0 | 0 |
| NORTHEAST BANK | CommonStock | 66405S100 |  | 5236442 | 46600 | SH |  | SOLE |  | 46600 | 0 | 0 |
| OFG BANCORP | CommonStock | 67103X102 |  | 4369680 | 108000 | SH |  | SOLE |  | 108000 | 0 | 0 |
| PDD HOLDINGS INC | ADR | 722304102 |  | 1389648 | 13600 | SH |  | SOLE |  | 13600 | 0 | 0 |
| PEOPLES BANCORP INC | CommonStock | 709789101 |  | 2126689 | 64700 | SH |  | SOLE |  | 64700 | 0 | 0 |
| PERDOCEO EDUCATION CORP | CommonStock | 71363P106 |  | 2254926 | 60600 | SH |  | SOLE |  | 60600 | 0 | 0 |
| PHILLIPS EDISON  COMPANY IN | CommonStock | 71844V201 |  | 2001970 | 53500 | SH |  | SOLE |  | 53500 | 0 | 0 |
| POPULAR INC | CommonStock | 733174700 |  | 86959602 | 648130 | SH |  | SOLE |  | 638930 | 0 | 0 |
| PROGRESS SOFTWARE CORP | CommonStock | 743312100 |  | 600210 | 23400 | SH |  | SOLE |  | 23400 | 0 | 0 |
| SABRA HEALTH CARE REIT INC | CommonStock | 78573L106 |  | 2019150 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| SLM CORP | CommonStock | 78442P106 |  | 30597031 | 1429100 | SH |  | SOLE |  | 1429100 | 0 | 0 |
| SMURFIT WESTROCK PLC | CommonStock | G8267P108 |  | 54457017 | 1366550 | SH |  | SOLE |  | 1345798 | 0 | 0 |
| SOUTH PLAINS FINANCIAL INC | CommonStock | 83946P107 |  | 4751460 | 113400 | SH |  | SOLE |  | 113400 | 0 | 0 |
| SOUTH STATE CORP | CommonStock | 840441109 |  | 2383408 | 25761 | SH |  | SOLE |  | 25761 | 0 | 0 |
| SOUTHSIDE BANCSHARES INC | CommonStock | 84470P109 |  | 1956929 | 62944 | SH |  | SOLE |  | 62944 | 0 | 0 |
| SUPERNUS PHARMACEUTICALS INC | CommonStock | 868459108 |  | 1163025 | 22500 | SH |  | SOLE |  | 22500 | 0 | 0 |
| TYSON FOODS INC-CL A | CommonStock | 902494103 |  | 28917866 | 451348 | SH |  | SOLE |  | 451348 | 0 | 0 |
| UNITED THERAPEUTICS CORP | CommonStock | 91307C102 |  | 57311517 | 96650 | SH |  | SOLE |  | 96650 | 0 | 0 |
| V2X INC | CommonStock | 92242T101 |  | 2342700 | 34200 | SH |  | SOLE |  | 34200 | 0 | 0 |
| WABASH NATIONAL CORP | CommonStock | 929566107 |  | 1362563 | 158070 | SH |  | SOLE |  | 158070 | 0 | 0 |
| WEBSTER FINANCIAL CORP - CT | CommonStock | 947890109 |  | 34168593 | 492201 | SH |  | SOLE |  | 492201 | 0 | 0 |
| WILLIAMS COS INC | CommonStock | 969457100 |  | 29031942 | 398900 | SH |  | SOLE |  | 398900 | 0 | 0 |
| WINNEBAGO INDUSTRIES | CommonStock | 974637100 |  | 1179696 | 38067 | SH |  | SOLE |  | 38067 | 0 | 0 |

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