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What smart money is saying about PolarisUnited States flag

PII · Consumer Cyclical · Auto - Recreational Vehicles · Market cap $3.74B

2 funds in our archive have pitched Polaris, most recently Bristlemoon Capital Global Fund in September 2026.

Company profile

Polaris Inc. is a global enterprise specializing in the design, engineering, production, and distribution of powersports vehicles. Its business is structured across three primary segments: Off-Road, On-Road, and Marine. The company's off-road lineup features all-terrain vehicles (ATVs), side-by-side utility vehicles, snowmobiles, and innovative snow bike conversion systems. This segment also produces low-emission, light-duty transport, passenger, and industrial vehicles. For paved roads, Polaris offers a selection of motorcycles, quadricycles, and moto-roadsters. Beyond the vehicles themselves, Polaris provides an extensive array of complementary accessories. For off-road vehicles, these include functional items like winches, plows, and tracks, as well as comfort and style elements such as cab systems, lighting, audio, and specialized wheels. Snowmobile owners can find covers, traction enhancers, electric starters, and various bags and windshields. Motorcycle enthusiasts have access to saddlebags, custom handlebars, exhaust systems, and decorative chrome. Furthermore, Polaris markets a full range of protective gear and apparel, encompassing helmets, jackets, gloves, and boots. Within its Marine division, the company manufactures both pontoon and deck boats. Polaris products are sold through a broad network of dealers and distributors, and directly via its online platforms. Aftermarket parts, apparel, and accessories are additionally available through its 101 physical retail centers, call centers, and e-commerce websites. Founded in 1954 as Polaris Industries Inc., the company's headquarters are located in Medina, Minnesota.

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3
Reported positions
0
Bought
2
Sold
5
Letters

Position history

Between Q1 2025 and Q3 2026, 3 fund letters reported a position in Polaris, with 2 sells (trimmed or exited).

Fund letters reporting a position in Polaris, by quarter
QuarterLettersBoughtSoldTheses
Q3 20260001
Q2 20251011
Q1 20252010

Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.

Fund activity · 3 positions · 3 moves

Fund coverage · 2 theses

  • Polaris is benefiting from dealer restocking, but slowing retail demand and pressured consumers call its earnings growth expectations into question.

    Read the full thesis
  • Legacy Ridge
    June 2025

    The company is undervalued due to poor capital allocation decisions, but with a strategic approach, its stock could potentially reach $200, making it an attractive investment at the current price of $47.

    Read the full thesis

Read every full thesis on Polaris

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