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 |
ARRS
ARRIS International plc Ordinary Shares
ARRS
|
+$15M |
| 2 |
Lennar Class A
LEN
|
+$5.23M |
| 3 |
VISN
Vistance Networks Inc
VISN
|
+$4.85M |
| 4 |
NCR Voyix
VYX
|
+$3.89M |
| 5 |
O-I Glass
OI
|
+$3.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DBD
Diebold Nixdorf Incorporated
DBD
|
+$20.5M |
| 2 |
Eastman Chemical
EMN
|
+$8.29M |
| 3 |
Huntsman Corp
HUN
|
+$4.29M |
| 4 |
KS
KapStone Paper and Pack Corp.
KS
|
+$4.08M |
| 5 |
Babcock & Wilcox
BW
|
+$2.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 47.38% |
| 2 | Materials | 28.26% |
| 3 | Consumer Discretionary | 22.16% |
| 4 | Industrials | 2.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
VISN
1
Vistance Networks Inc
VISN
$2.59B
| $144M | 18.94% |
3,819,482
+139,041
| +4% | +$4.85M |
|
|
2
O-I Glass
OI
$1.1B
| $144M | 18.83% |
6,481,703
+146,704
| +2% | +$3.5M |
|
|
ARRS
3
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $115M | 15.12% |
4,490,706
+534,800
| +14% | +$15M |
|
|
4
Huntsman Corp
HUN
$1.75B
| $111M | 14.58% |
3,341,917
-139,940
| -4% | -$4.29M |
|
|
5
Eastman Chemical
EMN
$8.47B
| $104M | 13.68% |
1,126,613
-91,224
| -7% | -$8.29M |
|
|
DBD
6
DELISTED
Diebold Nixdorf Incorporated
DBD
| $88.6M | 11.61% |
5,419,841
-1,061,978
| -16% | -$20.5M |
|
7
Avnet
AVT
$7.27B
| $9.03M | 1.18% |
228,000
+40,000
| +21% | +$1.6M |
|
|
SCS
8
DELISTED
Steelcase
SCS
| $7.34M | 0.96% |
482,739
| – | – |
|
9
Alaska Air
ALK
$4.51B
| $6.54M | 0.86% |
89,000
-6,000
| -6% | -$427K |
|
|
BRSL
10
Brightstar Lottery PLC
BRSL
$2.21B
| $6.36M | 0.83% |
240,000
-50,000
| -17% | -$1.28M |
|
|
DCH
11
Dauch Corp
DCH
$1.63B
| $6.02M | 0.79% |
353,600
-50,000
| -12% | -$885K |
|
|
12
Lennar Class A
LEN
$21B
| $5.63M | 0.74% |
+91,937
| New | +$5.23M |
|
|
LKSD
13
DELISTED
LSC Communications, Inc.
LKSD
| $5.34M | 0.7% |
352,817
-82,244
| -19% | -$1.31M |
|
|
TGI
14
DELISTED
Triumph Group
TGI
| $4.9M | 0.64% |
180,000
| – | – |
|
|
15
NCR Voyix
VYX
$1.09B
| $4M | 0.52% |
+191,739
| New | +$3.89M |
|
|
16
Babcock & Wilcox
BW
$1.23B
| – | – |
-75,000
| Closed | -$2.5M |
|
|
KS
17
DELISTED
KapStone Paper and Pack Corp.
KS
| – | – |
-190,000
| Closed | -$4.08M |
|
Similar funds
Alex Roepers's Q4 2017 Portfolio in Review
As of Q4 2017, Alex Roepers held 17 positions worth $763M, down 5% from $804M the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Alex Roepers's Q4 2017 filing shows 2 new, 4 increased, 7 reduced and 2 closed positions. Its largest new stake was Lennar Class A: 91,937 shares worth $5.63M. The largest sale was Diebold Nixdorf Incorporated, an estimated $20.5M.
By sector, the portfolio is most concentrated in Technology at 47% of assets, down from 49% a quarter earlier, followed by Materials and Consumer Discretionary.
- Alex Roepers's largest Q4 2017 buy was Lennar Class A: 91,937 shares worth $5.63M.
- Alex Roepers added most to ARRIS International plc Ordinary Shares in Q4 2017, an estimated $15M increase.
- Alex Roepers's biggest Q4 2017 reduction was Diebold Nixdorf Incorporated, cutting an estimated $20.5M.
- Alex Roepers fully exited KapStone Paper and Pack Corp. in Q4 2017, selling an estimated $4.08M.
- Alex Roepers's ten largest holdings make up 97% of its $763M portfolio in Q4 2017.
- Alex Roepers opened 2 new positions and closed 2 in Q4 2017.
- Alex Roepers's portfolio value fell 5% quarter-over-quarter to $763M.
Based on Atlantic Investment Management's 13F filing for Q4 2017, filed 14 Feb 2018.