Atlantic Investment Management added Nomad Foods and American Axle while fully exiting Axalta. The top ten holdings absorb 96.96% of the $171.66 million portfolio.
Alpha Score of 41 reflects weak overall profile with poor momentum, strong value, weak quality. Based on 3 of 4 signals — score is capped at 90 until remaining data ingests.
Alex Roepers' Atlantic Investment Management reported a $171.66 million equity portfolio for the latest quarter, keeping the same concentrated value approach that has defined the fund. The top ten holdings absorb 96.96% of reported assets, with nearly a third sitting in just the two largest positions.
Kirby Corp remains the biggest reported investment at roughly one-fifth of the portfolio, a longtime core holding for the firm. Cyclical manufacturers still dominate the book. American Axle, Aptiv, Oshkosh, and Weatherford International together represent more than 49% of reported assets, a bet that industrial and automotive conditions improve.
Roepers made three meaningful portfolio moves. He added 1.96 million shares of Nomad Foods, a 103.93% increase that pushed the frozen-food company into a top consumer holding. Atlantic more than doubled its investment in American Axle, making the auto-parts maker the second-largest position. The firm also initiated a sizeable new stake in Dole, the fresh-produce company, which entered as a top-ten holding.
The quarter's biggest exit was Axalta Coating Systems. Roepers sold the entire 1.02 million-share position, which had accounted for roughly 18.63% of reported assets in the prior period. Axalta had been one of the portfolio's largest investments.
Consumer names Nomad Foods, Dole, and PVH give the fund exposure to packaged foods, produce, and apparel. ABM Industries and Dentsply Sirona stretch across business services and healthcare equipment. The turnover was moderate, and the overall shape of the portfolio – a small number of businesses where Roepers sees a gap between market price and earnings power – did not change.
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