Atlas FRM LLC Diversified Active

CIK: 0001879898 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 12, 2026

Total Value ($000): $1,023,829 (100.0% shares, 0.0% debt)

Holdings (12)

New Positions (4)

FND FLOOR & DECOR HLDGS INC 1.7%

Value ($000) $17,719 Shares 291,000 Est. Cost $64.82 Unrealized 0.0%

FCFS FIRSTCASH HOLDINGS INC 0.8%

Value ($000) $7,969 Shares 50,000 Est. Cost $157.02 Unrealized 0.0%

SLGN SILGAN HOLDINGS INC 0.7%

Value ($000) $6,863 Shares 170,000 Est. Cost $40.58 Unrealized 0.0%

EZPW EZCORP INC 0.6%

Value ($000) $6,312 Shares 325,000 Est. Cost $18.85 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FND	FLOOR & DECOR HLDGS INC	291,000	$17,719	1.7%	$64.82	0.0%	CL A	339750101
FCFS	FIRSTCASH HOLDINGS INC	50,000	$7,969	0.8%	$157.02	0.0%	COM	33768G107
SLGN	SILGAN HOLDINGS INC	170,000	$6,863	0.7%	$40.58	0.0%	COM	827048109
EZPW	EZCORP INC	325,000	$6,312	0.6%	$18.85	0.0%	CL A NON VTG	302301106

Increased Positions (4)

PKG PACKAGING CORP AMER 19.9%

Value ($000) $204,168 (+36.8%) Shares 990,000 (+44.5%) Est. Cost $194.49 Unrealized +4.0%

IP INTERNATIONAL PAPER CO 19.2%

Value ($000) $196,950 (+32.6%) Shares 5,000,000 (+56.3%) Est. Cost $36.57 Unrealized +11.7%

SEE SEALED AIR CORP NEW 7.6%

Value ($000) $77,909 (+59.8%) Shares 1,880,500 (+36.4%) Est. Cost $33.60 Unrealized +14.8%

AMWD AMERICAN WOODMARK CORPORATIO 1.6%

Value ($000) $15,954 (+22.6%) Shares 296,000 (+51.8%) Est. Cost $74.01 Unrealized -20.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PKG	PACKAGING CORP AMER	990,000 (+44.5%)	$204,168 (+36.8%)	19.9%	$194.49	+4.0%	COM	695156109
IP	INTERNATIONAL PAPER CO	5,000,000 (+56.3%)	$196,950 (+32.6%)	19.2%	$36.57	+11.7%	COM	460146103
SEE	SEALED AIR CORP NEW	1,880,500 (+36.4%)	$77,909 (+59.8%)	7.6%	$33.60	+14.8%	COM	81211K100
AMWD	AMERICAN WOODMARK CORPORATIO	296,000 (+51.8%)	$15,954 (+22.6%)	1.6%	$74.01	-20.9%	COM	030506109

Exited Positions (1)

— THE ODP CORP 2.1%

Value ($000) $21,868 Shares 785,213 Est. Cost $22.74 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	THE ODP CORP	785,213	$21,868	2.1%	$22.74	—	—	88337F105

Decreased Positions (1)

MHK MOHAWK INDS INC 1.8%

Value ($000) $18,035 (-31.8%) Shares 165,000 (-19.5%) Est. Cost $132.13 Unrealized -13.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MHK	MOHAWK INDS INC	165,000 (-19.5%)	$18,035 (-31.8%)	1.8%	$132.13	-13.1%	COM	608190104

Unchanged Positions (3)

SLVM SYLVAMO CORP 29.7%

Value ($000) $303,945 Shares 6,312,454 Est. Cost $34.16 Unrealized +31.9%

MERC MERCER INTL INC 0.6%

Value ($000) $6,237 Shares 3,150,000 Est. Cost $10.86 Unrealized -80.6%

SUZ SUZANO S A 15.8%

Value ($000) $161,769 Shares 17,320,000 Est. Cost $10.91 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SLVM	SYLVAMO CORP	6,312,454	$303,945	29.7%	$34.16	+31.9%	COMMON STOCK	871332102
MERC	MERCER INTL INC	3,150,000	$6,237	0.6%	$10.86	-80.6%	COM	588056101
SUZ	SUZANO S A	17,320,000	$161,769	15.8%	$10.91	—	SPON ADS	86959K105