{
  "crd_number": 106278,
  "slug": "polaris-capital-management-llc-boston-ma-106278",
  "primary_business_name": "POLARIS CAPITAL MANAGEMENT, LLC",
  "legal_name": "POLARIS CAPITAL MANAGEMENT, LLC",
  "dbas": [],
  "city": "Boston",
  "state": "MA",
  "country": "United States",
  "cbsa_code": "14460",
  "metro": {
    "cbsa_code": "14460",
    "common_name": "Boston",
    "msa_name": "Boston-Cambridge-Newton, MA-NH",
    "path": "/advisors/ma/boston"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1993-02-03",
  "years_registered": 33,
  "period": "2026-10-01",
  "filing_date": "2026-01-30",
  "carried_forward": false,
  "raum_total": 5452307694.0,
  "raum_discretionary": 5452307694.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 18,
  "advisory_employees": 10,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 468646948.0,
      "count": 5,
      "description": "SEPARATE ACCOUNTS"
    },
    "charitable": {
      "raum": 48960080.0,
      "count": 1,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": null,
      "count": 0
    },
    "banking_thrift": {
      "raum": null,
      "count": 0
    },
    "state_municipal": {
      "raum": 321523607.0,
      "count": 1,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": null,
      "count": 0
    },
    "investment_companies": {
      "raum": 2731010928.0,
      "count": 5
    },
    "pension_profit_sharing": {
      "raum": 938529314.0,
      "count": 5
    },
    "other_investment_advisers": {
      "raum": null,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": null,
      "count": 0
    },
    "pooled_investment_vehicles": {
      "raum": 943636817.0,
      "count": 7
    },
    "corporations_other_businesses": {
      "raum": null,
      "count": 0
    },
    "business_development_companies": {
      "raum": null,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": null,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "other",
    "portfolio_management_businesses_institutional",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "MA",
    "NH"
  ],
  "websites": [
    "https://bsky.app/PROFILE/POLARISCAPITAL.BSKY.SOCIAL",
    "https://facebook.com/POLARISCAPITALMANAGEMENTLLC",
    "https://instagram.com/POLARISCAPITALMANAGEMENTLLC",
    "https://linkedin.com/COMPANY/POLARIS-CAPITAL-MANAGEMENT",
    "https://polariscapital.com",
    "https://polarisfunds.com",
    "https://vimeo.com/POLARISCAPITAL",
    "https://x.com/POLARISBOSTON"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106278",
  "city_as_filed": "BOSTON",
  "url": "https://advisorcensus.com/firm/polaris-capital-management-llc-boston-ma-106278",
  "display_name": "Polaris Capital Management, LLC",
  "summary": "Polaris Capital Management, LLC is an SEC-registered investment advisory firm in Boston, MA, registered since 1993, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated January 30, 2026.",
  "citation": "AdvisorCensus. Polaris Capital Management, LLC (CRD 106278): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Polaris Capital Management, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Polaris Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "How much does Polaris Capital Management, LLC charge?",
      "a": "Its Form ADV Part 2A brochure dated January 30, 2026 states: Asset-based fee: 0.75% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Polaris Capital Management, LLC located?",
      "a": "Polaris Capital Management, LLC's principal office is in Boston, MA, according to its Form ADV; the February 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Polaris Capital Management, LLC registered with the SEC or a state?",
      "a": "Polaris Capital Management, LLC is an SEC-registered investment advisory firm, registered since 1993. Status as filed: Approved. CRD 106278."
    },
    {
      "q": "How much does Polaris Capital Management, LLC manage?",
      "a": "Polaris Capital Management, LLC reports $5,452,307,694 in regulatory assets under management in its Form ADV filing dated January 30, 2026 (100% discretionary)."
    },
    {
      "q": "How have Polaris Capital Management, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Polaris Capital Management, LLC: Regulatory assets under management: $14,294,560,641 in the October 2021 data and $5,452,307,694 in the October 2026 data, down 62%. Total employees: 18 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Polaris Capital Management, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (7); investment companies (5); pension and profit sharing plans (but not the plan participants or government pension plans) (5)."
    },
    {
      "q": "Which custodians does Polaris Capital Management, LLC use?",
      "a": "Polaris Capital Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon, JP Morgan, Northern Trust and State Street Bank & Trust Company as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Polaris Capital Management, LLC report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106278"
    },
    {
      "q": "Does Polaris Capital Management, LLC state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated January 30, 2026 says: \"Separate account minimum $100 million\""
    },
    {
      "q": "What changed in Polaris Capital Management, LLC's recent Form ADV filings?",
      "a": "In the February 2026 filing data: Regulatory assets under management went from $8,901,029,329 to $5,452,307,694 (-39%). Added an office in Salem, NH. Registered or notice-filed in NH. Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 14294560641.0,
      "total_employees": 18,
      "filing_date": "2021-02-02"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 16198252799.0,
      "total_employees": 19,
      "filing_date": "2022-02-22"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 12425022064.0,
      "total_employees": 21,
      "filing_date": "2023-03-27"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 11775149425.0,
      "total_employees": 20,
      "filing_date": "2024-03-28"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 8901029329.0,
      "total_employees": 18,
      "filing_date": "2025-03-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 5452307694.0,
      "total_employees": 18,
      "filing_date": "2026-01-30"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Regulatory assets under management went from $8,901,029,329 to $5,452,307,694 (-39%).",
        "Added an office in Salem, NH.",
        "Registered or notice-filed in NH.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated January 30, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": "0.75% of assets a year",
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$100,000,000",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 0.75% of assets a year"
        ],
        "quotes": [
          "Fees are billed monthly or quarterly in arrears, based on the market value of the portfolio.  \n\n0.75% on all assets"
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $100,000,000"
        ],
        "quotes": [
          "Separate account minimum $100 million"
        ]
      }
    ],
    "values": {
      "tiers": [
        {
          "min": null,
          "max": null,
          "rate_pct": 0.75
        }
      ],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 100000000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Fees are billed monthly or quarterly in arrears, based on the market value of the portfolio.  \n\n0.75% on all assets",
      "Separate account minimum $100 million"
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "BNY Mellon",
      "name_as_filed": "BNY MELLON",
      "affiliated": false
    },
    {
      "name": "JP Morgan",
      "name_as_filed": "JP MORGAN",
      "affiliated": false
    },
    {
      "name": "Northern Trust",
      "name_as_filed": "NORTHERN TRUST",
      "affiliated": false
    },
    {
      "name": "State Street Bank & Trust Company",
      "name_as_filed": "STATE STREET BANK & TRUST COMPANY",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/polaris-capital-management-llc-boston-ma-106278.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 5,
      "fewer_than_5": false,
      "raum": 2731010928.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 7,
      "fewer_than_5": false,
      "raum": 943636817.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 5,
      "fewer_than_5": false,
      "raum": 938529314.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1,
      "fewer_than_5": true,
      "raum": 48960080.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 1,
      "fewer_than_5": true,
      "raum": 321523607.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "other",
      "label": "Other",
      "count": 5,
      "fewer_than_5": false,
      "raum": 468646948.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106278",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}