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 |
UNVR
Univar Solutions Inc.
UNVR
|
+$22.4M |
| 2 |
GRA
W.R. Grace & Co.
GRA
|
+$15.5M |
| 3 |
Axalta
AXTA
|
+$13.3M |
| 4 |
WRK
WestRock Company
WRK
|
+$13.1M |
| 5 |
Edgewell Personal Care
EPC
|
+$12M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Oshkosh
OSK
|
+$23.3M |
| 2 |
Lear
LEA
|
+$21M |
| 3 |
TechnipFMC
FTI
|
+$11.8M |
| 4 |
O-I Glass
OI
|
+$10.5M |
| 5 |
DXC Technology
DXC
|
+$9.71M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 47.38% |
| 2 | Materials | 29.43% |
| 3 | Technology | 16.29% |
| 4 | Consumer Staples | 6.9% |
| 5 | Energy | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
O-I Glass
OI
$1.1B
| $46.1M | 22.61% |
5,128,570
-1,363,551
| -21% | -$10.5M |
|
|
2
DXC Technology
DXC
$1.73B
| $33.2M | 16.29% |
2,010,060
-610,433
| -23% | -$9.71M |
|
|
WRK
3
DELISTED
WestRock Company
WRK
| $33M | 16.2% |
1,167,399
+462,000
| +65% | +$13.1M |
|
|
4
Axalta
AXTA
$7.75B
| $26.7M | 13.1% |
1,183,161
+648,000
| +121% | +$13.3M |
|
|
UNVR
5
DELISTED
Univar Solutions Inc.
UNVR
| $26.3M | 12.91% |
+1,560,000
| New | +$22.4M |
|
|
GRA
6
DELISTED
W.R. Grace & Co.
GRA
| $17.5M | 8.57% |
343,559
+327,559
| +2,047% | +$15.5M |
|
|
7
Edgewell Personal Care
EPC
$1.32B
| $13.4M | 6.58% |
+430,000
| New | +$12M |
|
8
Eastman Chemical
EMN
$8.47B
| $6.96M | 3.42% |
100,000
| – | – |
|
9
Nomad Foods
NOMD
$1.65B
| $644K | 0.32% |
30,000
-71,000
| -70% | -$1.48M |
|
10
Aptiv
APTV
$10B
| – | – |
-10,000
| Closed | -$492K |
|
11
Acuity Brands
AYI
$10.3B
| – | – |
-9,000
| Closed | -$771K |
|
12
Dana Inc
DAN
$3.41B
| – | – |
-80,000
| Closed | -$625K |
|
|
13
TechnipFMC
FTI
$30.4B
| – | – |
-2,362,795
| Closed | -$11.8M |
|
14
Huntsman Corp
HUN
$1.75B
| – | – |
-25,000
| Closed | -$361K |
|
|
15
Lear
LEA
$8.56B
| – | – |
-259,030
| Closed | -$21M |
|
16
Masco
MAS
$14.5B
| – | – |
-13,000
| Closed | -$449K |
|
17
Mohawk Industries
MHK
$9.23B
| – | – |
-8,000
| Closed | -$610K |
|
|
18
Oshkosh
OSK
$9.7B
| – | – |
-362,185
| Closed | -$23.3M |
|
19
Timken Company
TKR
$8.67B
| – | – |
-15,000
| Closed | -$485K |
|
|
NAV
20
DELISTED
Navistar International
NAV
| – | – |
-35,000
| Closed | -$577K |
|
Similar funds
Alex Roepers's Q2 2020 Portfolio in Review
As of Q2 2020, Alex Roepers held 20 positions worth $204M, up 15% from $177M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Alex Roepers's Q2 2020 filing shows 2 new, 3 increased, 3 reduced and 11 closed positions. Its largest new stake was Univar Solutions Inc.: 1,560,000 shares worth $26.3M. The largest sale was Oshkosh, an estimated $23.3M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 47% of assets, down from 51% a quarter earlier, followed by Materials and Technology.
- Alex Roepers's largest Q2 2020 buy was Univar Solutions Inc.: 1,560,000 shares worth $26.3M.
- Alex Roepers added most to W.R. Grace & Co. in Q2 2020, an estimated $15.5M increase.
- Alex Roepers's biggest Q2 2020 reduction was O-I Glass, cutting an estimated $10.5M.
- Alex Roepers fully exited Oshkosh in Q2 2020, selling an estimated $23.3M.
- Alex Roepers's ten largest holdings make up 100% of its $204M portfolio in Q2 2020.
- Alex Roepers opened 2 new positions and closed 11 in Q2 2020.
- Alex Roepers's portfolio value rose 15% quarter-over-quarter to $204M.
Based on Atlantic Investment Management's 13F filing for Q2 2020, filed 14 Aug 2020.