Atlas FRM LLC

CIK 0001879898 · Q2 2026

13F Equity AUM

$2.3B

+52.9% QoQ

Positions

+2 QoQ

AUM Rank

#1,400

Top 16%

Skill Alpha (FF)

-3.4%/yr^ns

No Clear Edge

Rank #7,102 · Top 85%

vs S&P -3.8%/yr (unadj.)

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 60.8%Top 10: 78.1%Top 20: 98.2%

IP16.1%

PKG15.6%

WCN10.8%

SLVM10.2%

SUZ8.1%

FBIN4.3%

ATR3.6%

RYN3.6%

WY3.1%

BLDR2.8%

Others (15)21.9%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Consumer Cyclical41.7%

Basic Materials23.1%

Industrials20.3%

Real Estate6.7%

Financial Services4.7%

Healthcare3.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 25Median: 2.36%Avg: 4.00%

0–0.5%

3(0.2%)

0.5–1%

2(1.6%)

1–3%

11(22.9%)

3–5%

4(14.6%)

5%+

5(60.8%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 25vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New6Increased13Decreased2Exited4

New Positions

WCN10.8%

+1.5M

CX1.1%

+2.1M

MTH0.8%

+220K

JBI0.8%

+3.2M

SON0.1%

+50K

VMC0.1%

+5K

Increased

SUZ8.1%

+5.2M(+27%)

RYN3.6%

+3.5M(+721%)

MBC2.0%

+3.3M(+256%)

WY3.1%

+2.9M(+1500%)

IP16.1%

+2.3M(+30%)

WFG2.1%

+684K(+1221%)

BLDR2.8%

+641K(+832%)

GBX1.6%

+538K(+216%)

BCC1.5%

+404K(+985%)

LGIH2.6%

+327K(+51%)

Decreased

MERC0.0%

-2,553,209(-81%)

FBIN4.3%

-350,000(-16%)

Exited

-2,825,000

-165,000

-296,000

-50,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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