Second Quarter 2026 International Equity Composite Commentary ↗Polaris International Equity Composite bought Fujifilm Holdings, Astor Transformator Enerji and UniCredit while selling HD Hyundai Electric, SKF and Daicel after valuations or execution changed. The portfolio favored underappreciated cash-generative international businesses as AI concentration, sticky inflation and Middle East risks created valuation dislocations; Alibaba, AIA and several Chinese holdings detracted.SECOND QUARTER 2026 +12.3%AAIGF$98BBABA$290BFUJIY$25BIX$43B
Second Quarter 2026 Global Equity Composite Commentary ↗Polaris added Adobe, Fujifilm, UniCredit, Cytokinetics and Booking Holdings while exiting MKS, HD Hyundai Electric, SKF and Daicel after valuation targets or disappointing execution. It favors underappreciated, cash-generative international businesses as concentrated growth leadership, sticky inflation and geopolitical risk create valuation dislocations.SECOND QUARTER 2026 +13.3%AAIGF$98BADBE$110BBABA$290BBKNG$158B
First Quarter 2026 International Equity Composite Commentary ↗Polaris International Equity Composite sold Methanex after it reached its valuation target, exited Capgemini as the outsourcing thesis weakened, and initiated Ryanair after an oil-driven selloff. The portfolio favors international diversification, financial holdings that benefit from higher rates, and quality companies trading at dislocated valuations.FIRST QUARTER 2026 +5.1%MEOH$4.5BRYAAY$29BBABA$290BBABWF$26B
First Quarter 2026 Global Equity Composite Commentary ↗Polaris Global Equity Composite benefited from energy, technology, materials and utilities as the Strait of Hormuz closure reshaped sector leadership. The portfolio exited Methanex, Sally Beauty, UnitedHealth and Capgemini, then initiated Eastman Chemical and Ryanair on valuation, cost-cutting and supply-demand catalysts.FIRST QUARTER 2026 +5.9%CAPMF$22BDNBBF$48BE$86BMEOH$4.5B
