Atlantic Investment

Q2 2017 13F · by Alex Roepers, CIO

As of: Jun 30, 2017
Filed: Aug 14, 2017
US stock: $973M · prev $958M
Positions: 19 · prev 20
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%

Moves26 since the prior filing

+22.0 pp in · −22.0 pp out

New 6 +13.51 pp
Added 8 +8.52 pp
Trimmed 5 −5.48 pp
Exited 7 −16.54 pp

The book

Very concentrated · behaves like 7 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 99% a year, about 1.0 years per position

Low
Moderate
High

Top 5 positions82% of US stock

OI O-I Glass, Inc. trimmed−0.26 pp trimmed−0.2620.6%
DBD Diebold Nixdorf, Incorporated added+0.88 pp added+0.8817.3%
VISN Vistance Networks, Inc. added+0.23 pp added+0.2316.7%
EMN Eastman Chemical Company added+1.49 pp added+1.4914.7%
unresolved Arris Intl Inc added+4.77 pp added+4.7712.3%

Positions19 in this filing · 7 exited


OIO-I Glass, Inc.	20.60%	8,381,360	$200M	trimmed−14%	−0.26 pp	17 q
DBDDiebold Nixdorf, Incorporated	17.26%	6,000,000	$168M	added+17%	+0.88 pp	4 q
VISNVistance Networks, Inc.	16.67%	4,265,989	$162M	added+13%	+0.23 pp	5 q
EMNEastman Chemical Company	14.68%	1,701,345	$143M	added+9%	+1.49 pp	7 q
unresolvedArris Intl Inc	12.33%	4,280,759	$120M	added+56%	+4.77 pp	3 q
HUNHuntsman Corporation	11.50%	4,330,700	$112M	new	+11.50 pp	new
MGAMagna International	0.83%	173,356	$8M	trimmed−46%	−0.62 pp	4 q
LKSDQLsc Communications Inc	0.78%	355,388	$8M	added×2.4	+0.39 pp	2 q
BRSLBrightstar Lottery PLC	0.78%	412,247	$8M	added×3.6	+0.50 pp	2 q
TG7Triumph Group Inc	0.76%	233,993	$7M	trimmed−86%	−3.86 pp	16 q
GJBSteelcase Inc-cl A	0.70%	487,643	$7M	trimmed−5%	−0.20 pp	3 q
AVTAvnet, Inc.	0.63%	158,000	$6M	new	+0.63 pp	new
DXCDXC Technology Company	0.48%	61,117	$5M	new	+0.48 pp	new
BWBabcock & Wilcox Enterprises, Inc.	0.47%	386,056	$5M	trimmed−63%	−0.54 pp	3 q
NOMDNomad Foods Limited	0.45%	312,368	$4M	added+26%	+0.15 pp	2 q
ADNTAdient plc	0.34%	50,000	$3M	new	+0.34 pp	new
unresolvedKapstone Paper & Packaging C	0.32%	150,000	$3M	new	+0.32 pp	new
DCHDauch Corporation	0.24%	150,000	$2M	new	+0.24 pp	new
ZTOZTO Express (Cayman) Inc.	0.18%	127,400	$2M	added×2.5	+0.11 pp	2 q
unresolvedHarman Intl Inds Inc	—	−1,030,435	—	exited	−12.00 pp	—
GTGoodyear Tire & Rubber	—	−330,000	—	exited	−1.24 pp	—
unresolvedComputer Sciences Corp	—	−138,000	—	exited	−0.99 pp	—
RLRalph Lauren Corporation	—	−89,709	—	exited	−0.76 pp	—
ODPOffice Depot Inc	—	−1,233,821	—	exited	−0.60 pp	—
BDCBelden Inc.	—	−67,886	—	exited	−0.49 pp	—
MUMicron Technology, Inc.	—	−153,122	—	exited	−0.46 pp	—