Atlantic Investment

Q1 2019 13F · by Alex Roepers, CIO

As of: Mar 31, 2019
Filed: May 15, 2019
US stock: $391M · prev $381M
Positions: 18 · prev 22
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%

Moves27 since the prior filing

+26.7 pp in · −26.7 pp out

New 5 +3.22 pp
Added 6 +23.46 pp
Trimmed 7 −10.45 pp
Exited 9 −16.21 pp

The book

Very concentrated · behaves like 8 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 100% a year, about 1.0 years per position

Low
Moderate
High

Top 5 positions73% of US stock

OI O-I Glass, Inc. trimmed−12.13 pp trimmed−12.1320.6%
EMN Eastman Chemical Company added+12.49 pp added+12.4914.4%
HUN Huntsman Corporation trimmed+0.78 pp trimmed+0.7814.3%
AVT Avnet, Inc. trimmed+0.76 pp trimmed+0.7612.1%
DXC DXC Technology Company trimmed+1.04 pp trimmed+1.0411.9%

Positions18 in this filing · 9 exited


OIO-I Glass, Inc.	20.61%	4,248,816	$81M	trimmed−41%	−12.13 pp	24 q
EMNEastman Chemical Company	14.41%	743,279	$56M	added×7.4	+12.49 pp	14 q
HUNHuntsman Corporation	14.34%	2,495,475	$56M	trimmed−7%	+0.78 pp	8 q
AVTAvnet, Inc.	12.14%	1,095,641	$48M	trimmed−9%	+0.76 pp	8 q
DXCDXC Technology Company	11.87%	721,968	$46M	trimmed−7%	+1.04 pp	2 q
OSKOshkosh Corp.	9.44%	491,464	$37M	added+2%	+1.67 pp	4 q
TKRThe Timken Company	9.27%	831,800	$36M	added×12.0	+8.59 pp	3 q
DBDDiebold Nixdorf, Incorporated	1.41%	500,000	$6M	trimmed−85%	−0.75 pp	11 q
ADTADT Inc.	0.97%	592,072	$4M	added+69%	+0.42 pp	4 q
BRSLBrightstar Lottery PLC	0.92%	276,019	$4M	added+42%	+0.18 pp	2 q
AYIAcuity Inc.	0.86%	28,000	$3M	new	+0.86 pp	new
CAGConagra Brands, Inc.	0.76%	106,500	$3M	new	+0.76 pp	new
CBTCabot Corporation	0.66%	61,669	$3M	trimmed−8%	−0.10 pp	2 q
0LW9Westrock Co	0.66%	67,800	$3M	new	+0.66 pp	new
CXTCrane NXT, Co.	0.51%	23,500	$2M	new	+0.51 pp	new
NAVNavistar International	0.50%	60,000	$2M	trimmed−25%	−0.05 pp	5 q
AXEAnixter International Inc	0.43%	30,000	$2M	new	+0.43 pp	new
LEALear Corporation	0.25%	7,136	$968,427	added+70%	+0.11 pp	3 q
VISNVistance Networks, Inc.	—	−2,942,961	—	exited	−12.66 pp	—
GTGoodyear Tire & Rubber	—	−130,000	—	exited	−0.70 pp	—
CCKCrown Holdings Inc.	—	−57,762	—	exited	−0.63 pp	—
DCHDauch Corporation	—	−190,000	—	exited	−0.55 pp	—
TG7Triumph Group Inc	—	−180,000	—	exited	−0.54 pp	—
GDIIngersoll Rand Inc.	—	−53,494	—	exited	−0.29 pp	—
TIFTiffany & Co.	—	−13,855	—	exited	−0.29 pp	—
GPKGraphic Packaging Holding Company	—	−101,778	—	exited	−0.28 pp	—
VNTRVenator Materials PLC	—	−241,900	—	exited	−0.27 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000905718-19-000454
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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