Atlantic Investment

Q3 2014 13F · by Alex Roepers, CIO

As of: Sep 30, 2014
Filed: Nov 13, 2014
US stock: $1.5B · prev $1.5B
Positions: 16 · prev 16
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves17 since the prior filing

+2.3 pp in · −2.3 pp out

New 1 +0.07 pp
Added 12 +2.23 pp
Trimmed 3 −1.46 pp
Exited 1 −0.84 pp

The book

Very concentrated · behaves like 7 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 5.1% a year, about 19.6 years per position

Low
Moderate
High

Top 5 positions77% of US stock

OI O-I Glass, Inc. added−2.09 pp added−2.0919.1%
TG7 Triumph Group Inc added+0.36 pp added+0.3616.3%
unresolved Baker Hughes Inc. added+1.10 pp added+1.1014.4%
unresolved Harman Intl Inds Inc trimmed−1.48 pp trimmed−1.4814.4%
unresolved Cameron International Corp added+0.71 pp added+0.7113.3%

Positions16 in this filing · 1 exited


OIO-I Glass, Inc.	19.12%	11,113,403	$290M	added+18%	−2.09 pp	6 q
TG7Triumph Group Inc	16.28%	3,790,995	$247M	added+8%	+0.36 pp	5 q
unresolvedBaker Hughes Inc.	14.43%	3,359,330	$219M	added+22%	+1.10 pp	6 q
unresolvedHarman Intl Inds Inc	14.37%	2,220,099	$218M	trimmed−2%	−1.48 pp	6 q
unresolvedCameron International Corp	13.28%	3,029,431	$201M	added+6%	+0.71 pp	5 q
OISOil States International, Inc.	9.70%	2,373,710	$147M	added+11%	+0.81 pp	6 q
TEXTerex Corporation	2.07%	987,733	$31M	added×2.8	+1.12 pp	2 q
GTGoodyear Tire & Rubber	1.86%	1,248,459	$28M	added+23%	+0.03 pp	6 q
unresolvedGeneral Cable Corp	1.74%	1,746,003	$26M	added+84%	+0.16 pp	3 q
DCHDauch Corporation	1.29%	1,169,413	$20M	added+1%	−0.13 pp	3 q
unresolvedCytec Inds Inc	1.19%	382,244	$18M	added×2.0	−0.11 pp	4 q
HA7Enviri Corp	1.19%	840,657	$18M	added+17%	−0.06 pp	3 q
unresolvedTaminco Corp	1.19%	687,864	$18M	trimmed−5%	+0.10 pp	4 q
unresolvedExelis Inc	1.11%	1,014,338	$17M	trimmed−6%	−0.08 pp	2 q
unresolvedDonnelley R R & Sons Co	1.10%	1,012,926	$17M	added+45%	+0.33 pp	2 q
VVXV2X, Inc.	0.07%	56,843	$1M	new	+0.07 pp	new
unresolvedBabcock & Wilcox Co New	—	−399,700	—	exited	−0.84 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 8 unresolved
Accession: 0000905718-14-000740
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet