Alex Roepers Atlantic Investment Management
Alex Roepers is the founder of Atlantic Investment Management, a firm specializing in concentrated, often activist or engaged investments in undervalued companies. The approach typically involves deep operational analysis and a willingness to work with managements to improve capital allocation. Roepers’s filings are tracked by investors interested in small- and mid-cap special situations.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VISN
Vistance Networks Inc
VISN
|
+$95.4M |
| 2 |
DBD
Diebold Nixdorf Incorporated
DBD
|
+$89.6M |
| 3 |
ARRS
ARRIS International plc Ordinary Shares
ARRS
|
+$8.99M |
| 4 |
SCS
Steelcase
SCS
|
+$6.84M |
| 5 |
SPLS
Staples Inc
SPLS
|
+$6.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eastman Chemical
EMN
|
+$53.6M |
| 2 |
HAR
Harman International Industries
HAR
|
+$46.7M |
| 3 |
IM
Ingram Micro
IM
|
+$41.9M |
| 4 |
O-I Glass
OI
|
+$26.9M |
| 5 |
Goodyear
GT
|
+$25.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 45.1% |
| 2 | Consumer Discretionary | 34.77% |
| 3 | Materials | 11.26% |
| 4 | Industrials | 8.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
O-I Glass
OI
$1.1B
| $146M | 18% |
8,365,905
-1,479,083
| -15% | -$26.9M |
|
|
HAR
2
DELISTED
Harman International Industries
HAR
| $125M | 15.45% |
1,125,026
-483,718
| -30% | -$46.7M |
|
|
VISN
3
Vistance Networks Inc
VISN
$2.59B
| $116M | 14.33% |
3,117,127
+2,798,476
| +878% | +$95.4M |
|
|
DBD
4
DELISTED
Diebold Nixdorf Incorporated
DBD
| $105M | 12.93% |
4,161,677
+3,800,351
| +1,052% | +$89.6M |
|
|
5
Goodyear
GT
$1.72B
| $92.1M | 11.38% |
2,984,730
-811,746
| -21% | -$25.1M |
|
|
6
Eastman Chemical
EMN
$8.47B
| $91.1M | 11.26% |
1,211,395
-741,631
| -38% | -$53.6M |
|
|
TGI
7
DELISTED
Triumph Group
TGI
| $64.1M | 7.92% |
2,419,525
-680,628
| -22% | -$18.1M |
|
|
ARRS
8
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $9.35M | 1.15% |
+310,157
| New | +$8.99M |
|
9
Magna International
MGA
$19.5B
| $8.74M | 1.08% |
201,457
+42,457
| +27% | +$1.78M |
|
10
Asbury Automotive
ABG
$3.86B
| $8.51M | 1.05% |
137,881
+11,012
| +9% | +$629K |
|
|
SCS
11
DELISTED
Steelcase
SCS
| $8.14M | 1.01% |
+454,614
| New | +$6.84M |
|
|
ODP
12
DELISTED
ODP
ODP
| $7.59M | 0.94% |
168,030
-1,081
| -0.6% | -$44.8K |
|
|
SPLS
13
DELISTED
Staples Inc
SPLS
| $6.74M | 0.83% |
+745,236
| New | +$6.5M |
|
|
PAY
14
DELISTED
Verifone Systems Inc
PAY
| $6.17M | 0.76% |
347,836
-62,711
| -15% | -$1.04M |
|
|
CTB
15
DELISTED
Cooper Tire & Rubber Co.
CTB
| $3.88M | 0.48% |
+100,000
| New | +$3.76M |
|
16
Oshkosh
OSK
$9.7B
| $3.88M | 0.48% |
+60,000
| New | +$3.71M |
|
|
CSC
17
DELISTED
Computer Sciences
CSC
| $3.86M | 0.48% |
+65,000
| New | +$3.76M |
|
18
Babcock & Wilcox
BW
$1.23B
| $3.82M | 0.47% |
+23,000
| New | +$3.67M |
|
19
Alaska Air
ALK
$4.51B
| – | – |
-113,969
| Closed | -$7.51M |
|
20
Robert Half
RHI
$4.58B
| – | – |
-177,209
| Closed | -$6.71M |
|
|
SPR
21
DELISTED
Spirit AeroSystems
SPR
| – | – |
-150,603
| Closed | -$6.71M |
|
|
IM
22
DELISTED
Ingram Micro
IM
| – | – |
-1,174,191
| Closed | -$41.9M |
|
Similar funds
Alex Roepers's Q4 2016 Portfolio in Review
As of Q4 2016, Alex Roepers held 22 positions worth $809M, up 5.7% from $766M the previous quarter. Its ten largest holdings account for 95% of the portfolio.
Alex Roepers's Q4 2016 filing shows 7 new, 4 increased, 7 reduced and 4 closed positions. Its largest new stake was ARRIS International plc Ordinary Shares: 310,157 shares worth $9.35M. The largest sale was Eastman Chemical, an estimated $53.6M.
By sector, the portfolio is most concentrated in Technology at 45% of assets, up from 26% a quarter earlier, followed by Consumer Discretionary and Materials.
- Alex Roepers's largest Q4 2016 buy was ARRIS International plc Ordinary Shares: 310,157 shares worth $9.35M.
- Alex Roepers added most to Vistance Networks Inc in Q4 2016, an estimated $95.4M increase.
- Alex Roepers's biggest Q4 2016 reduction was Eastman Chemical, cutting an estimated $53.6M.
- Alex Roepers fully exited Ingram Micro in Q4 2016, selling an estimated $41.9M.
- Alex Roepers's ten largest holdings make up 95% of its $809M portfolio in Q4 2016.
- Alex Roepers opened 7 new positions and closed 4 in Q4 2016.
- Alex Roepers's portfolio value rose 5.7% quarter-over-quarter to $809M.
Based on Atlantic Investment Management's 13F filing for Q4 2016, filed 14 Feb 2017.