Atlantic Investment

Q1 2017 13F · by Alex Roepers, CIO

As of: Mar 31, 2017
Filed: May 15, 2017
US stock: $958M · prev $809M
Positions: 20 · prev 18
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%

Moves25 since the prior filing

+20.8 pp in · −20.8 pp out

New 7 +2.75 pp
Added 9 +18.07 pp
Trimmed 4 −17.23 pp
Exited 5 −3.60 pp

The book

Very concentrated · behaves like 7 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 65% a year, about 1.5 years per position

Low
Moderate
High

Top 5 positions79% of US stock

OI O-I Glass, Inc. added+2.86 pp added+2.8620.9%
VISN Vistance Networks, Inc. added+2.11 pp added+2.1116.4%
DBD Diebold Nixdorf, Incorporated added+3.45 pp added+3.4516.4%
EMN Eastman Chemical Company added+1.93 pp added+1.9313.2%
unresolved Harman Intl Inds Inc trimmed−3.45 pp trimmed−3.4512.0%

Positions20 in this filing · 5 exited


OIO-I Glass, Inc.	20.86%	9,800,000	$200M	added+17%	+2.86 pp	16 q
VISNVistance Networks, Inc.	16.44%	3,773,756	$157M	added+21%	+2.11 pp	4 q
DBDDiebold Nixdorf, Incorporated	16.38%	5,108,702	$157M	added+23%	+3.45 pp	3 q
EMNEastman Chemical Company	13.19%	1,563,430	$126M	added+29%	+1.93 pp	6 q
unresolvedHarman Intl Inds Inc	12.00%	1,030,435	$115M	trimmed−8%	−3.45 pp	5 q
unresolvedArris Intl Inc	7.56%	2,737,358	$72M	added×8.8	+6.41 pp	2 q
TG7Triumph Group Inc	4.62%	1,718,983	$44M	trimmed−29%	−3.30 pp	15 q
MGAMagna International	1.45%	321,902	$14M	added+60%	+0.37 pp	3 q
GTGoodyear Tire & Rubber	1.24%	330,000	$12M	trimmed−89%	−10.14 pp	16 q
BWBabcock & Wilcox Enterprises, Inc.	1.01%	1,040,000	$10M	added×4.5	+0.54 pp	2 q
unresolvedComputer Sciences Corp	0.99%	138,000	$10M	added×2.1	+0.51 pp	2 q
GJBSteelcase Inc-cl A	0.90%	512,148	$9M	added+13%	−0.11 pp	2 q
RLRalph Lauren Corporation	0.76%	89,709	$7M	new	+0.76 pp	new
ODPOffice Depot Inc	0.60%	1,233,821	$6M	trimmed−27%	−0.34 pp	3 q
BDCBelden Inc.	0.49%	67,886	$5M	new	+0.49 pp	new
MUMicron Technology, Inc.	0.46%	153,122	$4M	new	+0.46 pp	new
LKSDQLsc Communications Inc	0.39%	149,087	$4M	new	+0.39 pp	new
NOMDNomad Foods Limited	0.30%	247,768	$3M	new	+0.30 pp	new
BRSLBrightstar Lottery PLC	0.28%	115,000	$3M	new	+0.28 pp	new
ZTOZTO Express (Cayman) Inc.	0.07%	50,000	$656,000	new	+0.07 pp	new
ABGAsbury Automotive Group, Inc.	—	−137,881	—	exited	−1.05 pp	—
unresolvedStaples Inc	—	−745,236	—	exited	−0.83 pp	—
unresolvedVerifone Sys Inc	—	−347,836	—	exited	−0.76 pp	—
CTBCooper Tire & Rubber Co.	—	−100,000	—	exited	−0.48 pp	—
OSKOshkosh Corp.	—	−60,000	—	exited	−0.48 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 3 unresolved
Accession: 0000905718-17-000559
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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