Atlas FRM LLC

GREENWICH, CT · CIK 1879898 · 13F filing filed 2026-08-13

SEC-registered investment adviser since 2012 · limited liability company

Assets managed$18.1bn
Staff87 · 57 in investment roles
Main clients (by assets)Private funds 100%
Private funds17 · $18.1bn gross assets
Websiteatlasholdingsllc.com
Form ADV · 2026-03-25SEC adviser record

Legal entityAtlas FRM LLC (US)

Kindprivate equity
Others nearbyGreenwich, CT, Stamford, CT

As an employer

Offices in1 country
Private fundsprivate equity 12, other private 5

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Greenwich, CT (main office)United States	United States	about 51
Stamford, CTUnited States	United States	6

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$2.3bn reported value +52.9% vs Q1 2026

25positions

78.1%in top 10

6 new 13 added 2 reduced 4 sold out vs Q1 2026

This report includes the holdings of 6 other managers that share the investment decisions:

Atlas Capital GP III LP – reports through this filing
Atlas Capital GP IV LP – reports through this filing
Atlas Capital GP V LP – reports through this filing
Atlas Capital Resources GP III LLC – reports through this filing
Atlas Capital Resources GP IV LLC – reports through this filing
Atlas Capital Resources GP V LLC – reports through this filing

Shares in two reports are counted once in each security's totals.

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	INTERNATIONAL PAPER CO COM IP	IP	9,840,000	$374.9m16.06%	16.06%	Added +2.2m	+2,250,000 29.6%
2	PACKAGING CORP AMER COM PKG	PKG	1,532,500	$365.2m15.64%	15.64%	Unchanged
3	WASTE CONNECTIONS INC COM WCN	WCN	1,510,000	$251.7m10.78%	10.78%	New
4	SYLVAMO CORP COMMON STOCK SLVM	SLVM	6,312,454	$238.6m10.22%	10.22%	Unchanged
5	SUZANO S A SPON ADS SUZ	SUZ	24,320,000	$188.7m8.08%	8.08%	Added +5.2m	+5,200,000 27.2%
6	FORTUNE BRANDS INNOVATIONS I COM FBIN	FBIN	1,825,000	$100.2m4.29%	4.29%	Reduced -350.0k	-350,000 -16.1%
7	APTARGROUP INC COM ATR	ATR	670,000	$83.9m3.59%	3.59%	Added +320.0k	+320,000 91.4%
8	RAYONIER INC COM RYN	RYN	3,940,000	$83.8m3.59%	3.59%	Added +3.5m	+3,460,000 720.8%
9	WEYERHAEUSER CO MTN BE COM NEW WY	WY	3,040,000	$72.8m3.12%	3.12%	Added +2.9m	+2,850,000 1500.0%
10	BUILDERS FIRSTSOURCE INC COM BLDR	BLDR	718,000	$64.2m2.75%	2.75%	Added +641.0k	+641,000 832.5%
11	LGI HOMES INC COM LGIH	LGIH	967,000	$61.6m2.64%	2.64%	Added +327.0k	+327,000 51.1%
12	FIRSTCASH HOLDINGS INC COM FCFS	FCFS	270,000	$58.4m2.50%	2.50%	Unchanged
13	FLOOR & DECOR HLDGS INC CL A FND	FND	930,000	$55.2m2.36%	2.36%	Added +36.0k	+36,000 4.0%
14	EZCORP INC CL A NON VTG EZPW	EZPW	1,450,000	$50.1m2.15%	2.15%	Unchanged
15	WEST FRASER TIMBER CO LTD COM WFG	WFG	740,000	$50.1m2.15%	2.15%	Added +684.0k	+684,000 1221.4%
16	SILGAN HLDGS INC COM SLGN	SLGN	1,040,000	$48.2m2.07%	2.07%	Added +170.0k	+170,000 19.5%
17	MASTERBRAND INC COMMON STOCK MBC	MBC	4,624,400	$47.6m2.04%	2.04%	Added +3.3m	+3,324,400 255.7%
18	GREENBRIER COS INC COM GBX	GBX	787,588	$38.6m1.65%	1.65%	Added +538.0k	+538,027 215.6%
19	BOISE CASCADE CO DEL COM BCC	BCC	445,000	$34.5m1.48%	1.48%	Added +404.0k	+404,000 985.4%
20	CEMEX SAB DE CV SPON ADR NEW CX	CX	2,120,000	$25.4m1.09%	1.09%	New
21	MERITAGE HOMES CORP COM MTH	MTH	220,000	$18.4m0.79%	0.79%	New
22	JANUS INTERNATIONAL GROUP IN COMMON STOCK JBI	JBI	3,240,000	$18.0m0.77%	0.77%	New
23	SONOCO PRODS CO COM SON	SON	50,000	$2.8m0.12%	0.12%	New
24	VULCAN MATLS CO COM VMC	VMC	5,000	$1.5m0.06%	0.06%	New
25	MERCER INTL INC COM MERC	MERC	596,791	$393.9k0.02%	0.02%	Reduced -2.6m	-2,553,209 -81.0%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
HORMEL FOODS CORP HRL	HRL	2,825,000	$64.0m2.8m shares
MOHAWK INDS INC MHK	MHK	165,000	$16.2m165.0k shares
AMERICAN WOODMARK CORPORATIO AMWD	AMWD	296,000	$11.8m296.0k shares
SELECT SECTOR SPDR TR XLP	XLP	50,000	$4.1m50.0k shares