GLOBAL FUND TOP HOLDINGS

Our Fund holdings include what our model identifies as undervalued but fundamentally strong companies, from a broad universe including all countries and market caps.

LARGEST EQUITY HOLDINGS (as of 12/31/23)

ISSUERPERCENTAGE
Publicis Groupe SA2.0%
Allison Transmission Holdings, Inc.1.7%
SK Hynix, Inc.1.6%
Microsoft Corp.1.5%
Samsung Electronics Co., Ltd.1.5%
SLM Corp.1.5%
Williams Cos., Inc.1.5%
Vinci SA1.5%
Webster Financial Corp.1.5%
Next PLC1.5%

The Polaris Global Value Fund’s 10 largest equity positions are as of 12/31/23 and represent approximately 15.8% of the Fund’s equity holdings. Equity holdings, country allocations and industry allocations are subject to change.

COUNTRY ALLOCATIONS (as of 12/31/23)

United States

41%

Rest of World

9%

France

8%

Canada

7%

South Korea

7%

United Kingdom

6%

Japan

6%

Germany

6%

Norway

4%

Switzerland

3%

Ireland

3%

INDUSTRY ALLOCATIONS (as of 12/31/23)

Financials

24%

Industrials

14%

Consumer Disc.

13%

Materials

10%

Information Tech.

10%

Health Care

10%

Comm. Services

7%

Energy

7%

Consumer Staples

4%

Utilities

1%

Real Estate

0%
global value mutual fund