Atlas FRM LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), Atlas FRM LLC reported 25 stock positions worth $2.3 billion. Its top holding was International Paper (IP) at 16.1% of the portfolio, followed by Packaging Corp. of America (PKG, 15.6%) and Waste Connections (WCN, 10.8%). Compared with Q1 2026, it opened 6 new positions, sold out of 4, added to 13 and reduced 2. The biggest buy was a new position in Waste Connections (WCN) and the biggest sale an exit from Hormel Foods (HRL).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001879898
- Portfolio Value
- $2.3B (Q2 2026)
- SEC Filing
- 0001879898-26-000007 ↗ filed Aug 13, 2026
Holdings Value
Holdings 25 stocks · $2.3B
| IP International Paper Co. | 16.06% | 9,840,000 | $374.9M | Add +29.6% |
| PKG Packaging Corp. of America | 15.64% | 1,532,500 | $365.2M | No change |
| WCN Waste Connections Inc. | 10.78% | 1,510,000 | $251.7M | New |
| SLVM Sylvamo Corp. | 10.22% | 6,312,454 | $238.6M | No change |
| SUZ Suzano SA - Spon ADR | 8.08% | 24,320,000 | $188.7M | Add +27.2% |
| FBIN Fortune Brands Innovations I | 4.29% | 1,825,000 | $100.2M | Reduce -16.1% |
| ATR Aptargroup Inc. | 3.59% | 670,000 | $83.9M | Add +91.4% |
| RYN Rayonier Inc. | 3.59% | 3,940,000 | $83.8M | Add +720.8% |
| WY Weyerhaeuser Co. | 3.12% | 3,040,000 | $72.8M | Add +1500.0% |
| BLDR Builders Firstsource Inc. | 2.75% | 718,000 | $64.2M | Add +832.5% |
| LGIH Lgi Homes Inc. | 2.64% | 967,000 | $61.6M | Add +51.1% |
| FCFS Firstcash Holdings Inc. | 2.50% | 270,000 | $58.4M | No change |
| FND Floor & Decor Holdings Inc. Class A | 2.36% | 930,000 | $55.2M | Add +4.0% |
| EZPW Ezcorp Inc. Class A | 2.15% | 1,450,000 | $50.1M | No change |
| WFG West Fraser Timber Co. Ltd. | 2.15% | 740,000 | $50.1M | Add +1221.4% |
| SLGN Silgan Holdings Inc. | 2.07% | 1,040,000 | $48.2M | Add +19.5% |
| MBC Masterbrand Inc. | 2.04% | 4,624,400 | $47.6M | Add +255.7% |
| GBX Greenbrier Companies Inc. | 1.65% | 787,588 | $38.6M | Add +215.6% |
| BCC Boise Cascade Co. | 1.48% | 445,000 | $34.5M | Add +985.4% |
| CX Cemex Sab-Spons ADR Part Cer | 1.09% | 2,120,000 | $25.4M | New |
| MTH Meritage Homes Corp. | 0.79% | 220,000 | $18.4M | New |
| JBI Janus International Group Inc. | 0.77% | 3,240,000 | $18.0M | New |
| SON Sonoco Products Co. | 0.12% | 50,000 | $2.8M | New |
| VMC Vulcan Materials Co. | 0.06% | 5,000 | $1.5M | New |
| MERC Mercer International Inc. | 0.02% | 596,791 | $394K | Reduce -81.0% |
Portfolio Sells Q1 2026 → Q2 2026
| HRL Hormel Foods Corp. | Sold out | 0.00% | −4.19 |
| FBIN Fortune Brands Innovations I | Reduce -16.1% | 4.29% | −1.26 |
| MHK Mohawk Industries Inc. | Sold out | 0.00% | −1.06 |
| AMWD American Woodmark Corp. | Sold out | 0.00% | −0.77 |
| MERC Mercer International Inc. | Reduce -81.0% | 0.02% | −0.28 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.27 |
Portfolio Buys Q1 2026 → Q2 2026
| WCN Waste Connections Inc. | New | 10.78% | +10.78 |
| RYN Rayonier Inc. | Add +720.8% | 3.59% | +2.94 |
| WY Weyerhaeuser Co. | Add +1500.0% | 3.12% | +2.81 |
| BLDR Builders Firstsource Inc. | Add +832.5% | 2.75% | +2.34 |
| WFG West Fraser Timber Co. Ltd. | Add +1221.4% | 2.15% | +1.91 |
| MBC Masterbrand Inc. | Add +255.7% | 2.04% | +1.33 |
| BCC Boise Cascade Co. | Add +985.4% | 1.48% | +1.28 |
| CX Cemex Sab-Spons ADR Part Cer | New | 1.09% | +1.09 |
| LGIH Lgi Homes Inc. | Add +51.1% | 2.64% | +0.98 |
| GBX Greenbrier Companies Inc. | Add +215.6% | 1.65% | +0.79 |
| MTH Meritage Homes Corp. | New | 0.79% | +0.79 |
| JBI Janus International Group Inc. | New | 0.77% | +0.77 |
| ATR Aptargroup Inc. | Add +91.4% | 3.59% | +0.70 |
| SON Sonoco Products Co. | New | 0.12% | +0.12 |
| VMC Vulcan Materials Co. | New | 0.06% | +0.06 |
| SLGN Silgan Holdings Inc. | Add +19.5% | 2.07% | −0.14 |
| FND Floor & Decor Holdings Inc. Class A | Add +4.0% | 2.36% | −0.61 |
| IP International Paper Co. | Add +29.6% | 16.06% | −1.69 |
| SUZ Suzano SA - Spon ADR | Add +27.2% | 8.08% | −4.45 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 25 | $2.3B | IP, PKG, WCN, SLVM, SUZ |
| Q1 2026 | 23 | $1.5B | PKG, IP, SLVM, SUZ, FBIN |
| Q4 2025 | 12 | $1.0B | SLVM, PKG, IP, SUZ, SEE |
| Q3 2025 | 9 | $858.8M | SLVM, SUZ, PKG, IP, SEE |
| Q2 2025 | 9 | $858.8M | SLVM, SUZ, IP, PKG, MHK |
| Q1 2025 | 9 | $933.1M | SLVM, IP, SUZ, PKG, MHK |
| Q4 2024 | 10 | $1.1B | SLVM, IP, SUZ, PKG, MHK |
| Q3 2024 | 8 | $1.0B | SLVM, IP, SUZ, MHK, PKG |
| Q2 2024 | 7 | $754.6M | SLVM, IP, SUZ, MERC, PKG |
| Q1 2024 | 7 | $739.9M | SLVM, IP, SUZ, PKG, MERC |