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Atlas FRM LLC
Andrew Bursky · Private Equity · Distressed
Atlas FRM LLC, doing business as Atlas Holdings LLC, is a private equity firm headquartered in Greenwich, Connecticut, founded in 2002 by Andrew Bursky and Timothy Fazio. The firm specializes in control investments in distressed and underperforming middle-market companies, particularly within the industrial, manufacturing, and distribution sectors such as building materials, energy, packaging, and paper products. Atlas focuses on revitalizing businesses through operational turnarounds and strategic restructuring, leveraging a team of experienced operating partners to manage its global family of companies and drive sustainable growth.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | -1.0% |
| YTD return | -2.9% |
| Sharpe ratio | -0.52 |
| Win rate | 56% |
| AUM | $1.5B |
| Inception | Oct 1, 2025 |
| Updated | Aug 20, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $1.5B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.atlasholdingsllc.com |
Current Holdings
Updated on Aug 20, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| PKG | Packaging Corp of America | 23.3% | +15.6% |
| IP | International Paper | 17.4% | -6.6% |
| SLVM | Sylvamo Corp | 16.6% | -13.5% |
| SUZ | Suzano Papel e Celulose SA ADR | 10.6% | -7.5% |
| FBIN | Fortune Brands Innovations Inc. | 5.7% | +19.2% |
| HRL | Hormel Foods Corporation | 4.5% | +13.2% |
| FCFS | FirstCash Inc | 4.2% | -4.7% |
| EZPW | EZCORP Inc | 3.2% | -7.8% |
| FND | Floor & Decor Holdings Inc | 2.9% | -6.4% |
| ATR | AptarGroup Inc | 2.7% | +14.3% |
| LGIH | LGI Homes | 2.2% | +21.3% |
| SLGN | Silgan Holdings Inc | 2.1% | +0.9% |
| MHK | Mohawk Industries Inc | 1.2% | +8.1% |
| GBX | Greenbrier Companies Inc | 0.8% | -4.8% |
| MBC | MasterBrand Inc. | 0.7% | +19.5% |
| RYN | Rayonier Inc | 0.7% | +4.6% |
| GREE | Greenidge Generation Holdings Inc | 0.4% | +68.8% |
| BLDR | Builders FirstSource Inc | 0.4% | -4.7% |
| WY | Weyerhaeuser Company | 0.3% | +4.2% |
| BCC | Boise Cascad Llc | 0.2% | +20.0% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Jul 27, 2026 | BUY | MHK | 1.2% → 1.2% |
| Jul 27, 2026 | BUY | FND | 2.9% → 3.1% |
| Jul 27, 2026 | BUY | SLVM | 16.6% → 14.9% |
| Jul 27, 2026 | BUY | HRL | 4.5% → 4.5% |
| Jul 27, 2026 | BUY | SLGN | 2.1% → 2.5% |
Investment Style Analysis
Atlas FRM LLC is widely recognized for employing a Distressed strategy. As of Aug 20, 2026, the firm oversees approximately $1.5B in assets under management (AUM). The portfolio demonstrates a clear preference for the Packaging & Containers and Paper & Paper Products sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Jul 27, Atlas FRM LLC made a significant move by increasing exposure to MHK. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Atlas Holdings employs a hands-on, operationally focused investment strategy aimed at identifying and unlocking intrinsic value in complex and stressed situations. The firm primarily seeks controlling interests in businesses facing financial or operational challenges where it can apply its deep industry expertise to drive fundamental improvements. By operating like a diversified industrial holding company rather than a traditional private equity fund, Atlas prioritizes long-term value creation through capital investment, management support, and the implementation of proven business processes to transform underperforming entities into industry leaders.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Atlas FRM LLC.
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Frequently asked questions
How is the simulated portfolio for Atlas FRM LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Atlas FRM LLC's largest holding?
As of the latest filing, Atlas FRM LLC's top position is Packaging Corp of America (PKG), representing 23.3% of the portfolio. This reflects a high-conviction bet by the institution.
What is Atlas FRM LLC's historical performance and risk profile?
Our simulation indicates a total return of -1.0% with a win rate of 56%. Notably, the portfolio maintains a Sharpe Ratio of -0.52, suggesting an standard level of risk-adjusted returns compared to the broader market.
What sectors does Atlas FRM LLC primarily invest in?
Atlas FRM LLC has a strong preference for the Packaging & Containers sector, which makes up 42.8% of their disclosed assets. The portfolio also has exposure to Paper & Paper Products, indicating a specific thematic focus.
Is Atlas FRM LLC's portfolio concentrated or diversified?
Atlas FRM LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 57.2% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Atlas FRM LLC performed in 2026?
Our AI-simulated model portfolio for Atlas FRM LLC tracks a Year-to-Date (YTD) return of -2.9%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Andrew Bursky manage Atlas FRM LLC directly?
Yes, Andrew Bursky serves as the key portfolio manager for Atlas FRM LLC, overseeing the investment strategy and final capital allocation decisions.