Ativo Capital Management LLC

CHICAGO, IL · CIK 1423065 · 13F filing filed 2026-08-10

SEC-registered investment adviser since 2006 · limited liability company

Assets managed$862.7m
Staff8 · 4 in investment roles
Main clients (by assets)State and local governments 80%, Pension plans 13%, Private funds 7%
Private funds1 (1 hedge) · $60.7m gross assets
Form ADV · 2026-03-18SEC adviser record

Legal entityATIVO CAPITAL MANAGEMENT, LLC (US)

Kindhedge funds, institutions
Others nearbyChicago, IL

As an employer

Offices in1 country
Private fundshedge 1

$130.6m reported value +13.6% vs Q1 2026

56positions

43.7%in top 10

5 new 18 added 31 reduced 4 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	26,463	$12.6m9.68%	9.68%	Added +7.2k	+7,180 37.2%
2	AERCAP HOLDINGS NV SHS AER	AER	62,518	$9.1m6.98%	6.98%	Added +20.8k	+20,794 49.8%
3	CREDICORP LTD COM BAP	BAP	18,710	$7.3m5.58%	5.58%	Reduced -160	-160 -0.8%
4	H WORLD GROUP LTD SPONSORED ADS HTHT	HTHT	135,910	$5.7m4.34%	4.34%	New
5	NETEASE INC SPONSORED ADS NTES	NTES	36,800	$4.7m3.61%	3.61%	Added +430	+430 1.2%
6	FRANKLIN TEMPLETON ETF TR FRANKLIN INDIA FLIN	FLIN	130,120	$4.6m3.54%	3.54%	Unchanged
7	YUM CHINA HLDGS INC COM YUMC	YUMC	100,960	$4.1m3.16%	3.16%	Reduced -360	-360 -0.4%
8	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	1,696	$3.4m2.58%	2.58%	Added +495	+495 41.2%
9	Advantest Corp COM ATEYY	ATEYY	13,637	$2.8m2.17%	2.17%	Added +1.7k	+1,711 14.3%
10	ROYAL BK CDA COM RY	RY	13,041	$2.7m2.07%	2.07%	Reduced -19	-19 -0.1%
11	BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR BBVA	BBVA	101,890	$2.6m1.96%	1.96%	Reduced -898	-898 -0.9%
12	BARRICK MNG CORP COM SHS B	B	68,202	$2.5m1.92%	1.92%	Added +1.4k	+1,446 2.2%
13	NOVARTIS AG SPONSORED ADR NVS	NVS	15,609	$2.4m1.87%	1.87%	Reduced -222	-222 -1.4%
14	TORONTO DOMINION BK ONT COM NEW TD	TD	19,265	$2.3m1.79%	1.79%	Reduced -13	-13 -0.1%
15	DBS Group Holdings Ltd COM DBSDY	DBSDY	10,427	$2.1m1.62%	1.62%	Reduced -4	-4 -0.0%
16	SOMPO HOLDINGS INC ADR SMPNY	SMPNY	109,247	$2.1m1.60%	1.60%	Reduced -30.0k	-30,001 -21.6%
17	ABB LTD SPONSORED ADR ABBNY	ABBNY	18,835	$2.0m1.57%	1.57%	Reduced -3.8k	-3,805 -16.8%
18	BRITISH AMERN TOB PLC SPONSORED ADR BTI	BTI	32,322	$2.0m1.53%	1.53%	Reduced -8	-8 -0.0%
19	WH GROUP LTD SPONSORED ADR ADR WHGLY	WHGLY	92,650	$2.0m1.51%	1.51%	Added +80	+80 0.1%
20	AGNICO EAGLE MINES LTD COM AEM	AEM	12,599	$2.0m1.50%	1.50%	Added +3	+3 0.0%
21	ORIX CORP SPONSORED ADR IX	IX	51,144	$1.9m1.49%	1.49%	Reduced -5	-5 -0.0%
22	ALLIANZ SE COM ALIZY	ALIZY	41,216	$1.9m1.49%	1.49%	Unchanged
23	UNICREDIT SPA UNSPONSORD ADR ADR UNCRY	UNCRY	42,441	$1.9m1.45%	1.45%	Reduced -4	-4 -0.0%
24	COMPANHIA DE SANEAMENTO BASI SPONSORED ADR SBS	SBS	327,423	$1.9m1.45%	1.45%	Reduced -37	-37 -0.0%
25	AGEAS SPONSORED ADR NE ADR AGESY	AGESY	23,011	$1.9m1.42%	1.42%	Reduced -5	-5 -0.0%
26	ENGIE SA SPONS ADR ADR ENGIY	ENGIY	57,337	$1.8m1.38%	1.38%	Reduced -10.5k	-10,516 -15.5%
27	IPSEN S A COMMON STOCK IPSEY	IPSEY	38,753	$1.8m1.38%	1.38%	Reduced -6	-6 -0.0%
28	CIA ENERGETICA DE MINAS GERA SP ADR N-V PFD CIG	CIG	808,007	$1.7m1.30%	1.30%	Reduced -4.5k	-4,511 -0.6%
29	NORDEA BANK ABP - SPON ADR ADR NRDBY	NRDBY	89,574	$1.7m1.30%	1.30%	Reduced -4	-4 0.0%
30	INDUSTRIA DE DISENO TEXTIL IND UNSPONSORD ADR ADR IDEXY	IDEXY	107,032	$1.7m1.29%	1.29%	New
31	TESCO PLC SPONSORED ADR ADR TSCDY	TSCDY	88,537	$1.6m1.25%	1.25%	Added +55	+55 0.1%
32	MAKITA CORP ADR MKTAY	MKTAY	45,002	$1.6m1.24%	1.24%	Reduced -2	-2 0.0%
33	AXA SA ADR AXAHY	AXAHY	32,076	$1.6m1.23%	1.23%	Reduced -1	-1 0.0%
34	QBE INSURANCE GROUP SPN ADR ADR QBIEY	QBIEY	91,497	$1.6m1.23%	1.23%	Reduced -19	-19 -0.0%
35	CREDIT AGRICOLE SA ADR ADR CRARY	CRARY	154,438	$1.5m1.18%	1.18%	Added +9	+9 0.0%
36	PROSUS NV -SPON ADR ADR PROSY	PROSY	176,339	$1.5m1.17%	1.17%	Added +384	+384 0.2%
37	DNB BANK ASA SPONSORED ADR DNBBY	DNBBY	51,397	$1.5m1.17%	1.17%	Added +17	+17 0.0%
38	GILDAN ACTIVEWEAR INC COM GIL	GIL	28,312	$1.5m1.12%	1.12%	Reduced -2.9k	-2,900 -9.3%
39	LUNDIN GOLD INC COM LUGDF	LUGDF	26,729	$1.4m1.10%	1.10%	Reduced -24	-24 -0.1%
40	ASSICURAZIONI GENERALI S.P.A. COM ARZGY	ARZGY	58,651	$1.4m1.09%	1.09%	Reduced -17.0k	-17,031 -22.5%
41	GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B ASR	ASR	4,522	$1.4m1.06%	1.06%	Added +1	+1 0.0%
42	KINROSS GOLD CORP COM KGC	KGC	58,295	$1.4m1.05%	1.05%	New
43	Komatsu Ltd ADR KMTUY	KMTUY	35,063	$1.4m1.05%	1.05%	Reduced -10.7k	-10,687 -23.4%
44	MS&AD INS GROUP HLDGS ADR ADR MSADY	MSADY	52,137	$1.4m1.04%	1.04%	Reduced -5	-5 -0.0%
45	VOLVO AB UNSPONSORD ADR ADR VLVLY	VLVLY	40,025	$1.4m1.04%	1.04%	Reduced -14.0k	-14,039 -26.0%
46	COMPANIA DE MINAS BUENAVENTU SPONSORED ADR BVN	BVN	46,082	$1.3m1.03%	1.03%	New
47	HARMONY GOLD MINING CO LTD SPONSORED ADR HMY	HMY	86,460	$1.3m1.01%	1.01%	Reduced -27	-27 -0.0%
48	ING GROEP N.V. SPONSORED ADR ING	ING	41,776	$1.3m1.00%	1.00%	New
49	UNILEVER PLC SPON ADR NEW UL	UL	21,207	$1.3m0.98%	0.98%	Added +6	+6 0.0%
50	Fujitsu Ltd ADR FJTSY	FJTSY	58,025	$1.2m0.88%	0.88%	Added +7	+7 0.0%
51	Raiffeisen Bank Intl Ag Adr ADR RAIFY	RAIFY	65,099	$1.0m0.79%	0.79%	Added +99	+99 0.1%
52	Oversea Chinese Banking Corp L ADR OVCHY	OVCHY	22,298	$856.7k0.66%	0.66%	Reduced -15	-15 -0.1%
53	CENTRICA PLC F ADR CPYYY	CPYYY	90,329	$827.4k0.63%	0.63%	Added +3	+3 0.0%
54	STANDARD BANK GROUP LTD ADR SGBLY	SGBLY	37,516	$744.3k0.57%	0.57%	Added +26	+26 0.1%
55	GREEK ORGANISATION OF FOOTBALL ADR GOFPY	GOFPY	72,380	$573.7k0.44%	0.44%	Reduced -23	-23 -0.0%
56	ENI S P A SPONSORED ADR E	E	12,212	$572.3k0.44%	0.44%	Reduced -42.4k	-42,368 -77.6%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
WOORI FINL GROUP INC WF	WF	27,530	$1.8m27.5k shares
CHECK POINT SOFTWARE TECH LT CHKP	CHKP	12,533	$1.8m12.5k shares
KUNLUN ENERGY KLYCY	KLYCY	126,104	$1.4m126.1k shares
3I GROUP PLC UNSPONSORD ADR TGOPY	TGOPY	147,169	$1.2m147.2k shares