SEC 13F Intelligence

Managers / Q1 2021 · view latest →

Ativo Capital Management LLC

CIK 0001423065 · 120 N LASALLE STREET, SUITE 1160, CHICAGO, IL, 60602 · 312-263-7600

Reported Value
$236M
Q1 2021
Positions
129
Filings on Record
30
2019–present window
Filed
May 13, 2021
original filing

Summary

Ativo Capital Management LLC reported $236M in U.S.-listed holdings across 129 positions for Q1 2021.

Its largest position, Aercap, represents 5.0% of the portfolio.

Compared with Q4 2020, the fund opened 13 new positions and exited 6.

Portfolio Metrics

Turnover
+10.0%
vs prior filed quarter
Top-10 Concentration
+32.0%
share of reported value
Largest Position
+5.0%
Aercap
New / Exited
13 / 6
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $214MQ4 ’18Q1 ’19: $238MQ2 ’19: $222MQ3 ’19: $205MQ4 ’19: $218MQ4 ’19Q1 ’20: $160MQ2 ’20: $185MQ3 ’20: $208MQ4 ’20: $232MQ4 ’20Q1 ’21: $236MQ2 ’21: $236MQ3 ’21: $213MQ4 ’21: $226MQ4 ’21Q1 ’22: $195MQ2 ’22: $148MQ3 ’22: $64MQ4 ’22: $79MQ4 ’22Q1 ’23: $82MQ2 ’23: $95MQ3 ’23: $88MQ4 ’23: $94MQ4 ’23Q1 ’24: $100MQ2 ’24: $97MQ3 ’24: $114MQ4 ’24: $101MQ4 ’24Q1 ’25: $117MQ2 ’25: $112MQ3 ’25: $118MQ4 ’25: $114MQ4 ’25Q1 ’26: $115Mfilingsflow.com

Portfolio Composition

By security type
Other: 60.5%Common Stock: 23.3%ADR: 15.6%NY Reg Shrs: 0.6%
  • Other · 60.5% · $143M
  • Common Stock · 23.3% · $55M
  • ADR · 15.6% · $37M
  • NY Reg Shrs · 0.6% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BIDUNBaidu Inc Sp ADR ANEW+11.2K11.2K+$2M$2M
Vale SA ADRNEW+59.6K59.6K+$1M$1M
Banco Santander Brasil SA ADSNEW+140.5K140.5K+$991,000$991,000
UNPUnion Pacific CorpNEW+2.6K2.6K+$575,000$575,000
Ferguson PLCNEW+4.7K4.7K+$566,000$566,000
Logitech Intl SANEW+4.9K4.9K+$513,000$513,000
Daikin Industries Ltd UnsponsoNEW+24.9K24.9K+$504,000$504,000
SGIOYShionogi & Co Ltd UnsponsoredNEW+37.0K37.0K+$500,000$500,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2021

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AerCap Holdings NVCOM5.01%$12M201.0K
2Alibaba Group Holding Ltd Sp AADR4.41%$10M45.9K
3Check Point Software Tech LtdCOM4.39%$10M92.4K
4Icon PLCCOM4.22%$10M50.6K
5SAPSap SE Sp ADRhistory →ADR3.59%$8M68.9K
6Wipro Ltd Sp ADR 1 ShADR3.47%$8M1.29M
7INFYInfosys Ltd Sp ADRhistory →ADR2.27%$5M285.5K
8AAPLApple Inchistory →COM1.76%$4M34.0K
9TSMTaiwan Semiconductor Mfg Ltd Shistory →ADR1.47%$3M29.3K
10Alphabet Inc Cap Stock Cl ACOM1.40%$3M1.6K
11Facebook Inc Cl ACOM1.29%$3M10.3K
12MSFTMicrosoft Corphistory →COM1.17%$3M11.7K
13Monster Beverage CorpCOM1.16%$3M30.1K
14BIDUNBaidu Inc Sp ADR Ahistory →ADR1.04%$2M11.2K
15Sibanye Stillwater Ltd Sp ADRADR1.01%$2M133.4K
16Ihs Markit LtdCOM0.99%$2M24.2K
17Accenture PLC Ireland Class ACOM0.98%$2M8.4K
18TMOThermo Fisher Scientific IncCOM0.97%$2M5.0K
19Adobe Systems IncCOM0.96%$2M4.7K
20Mastercard IncorporatedCOM0.95%$2M6.3K
21Unitedhealth Group IncCOM0.95%$2M6.0K
22HDHome Depot IncCOM0.94%$2M7.3K
23KLACKla CorporationCOM0.91%$2M6.5K
24Verisk Analytics IncCOM0.87%$2M11.6K
25TRMBTrimble IncCOM0.86%$2M25.9K
26TXNTexas Instruments IncCOM0.85%$2M10.6K
27S&P Global IncCOM0.81%$2M5.4K
28Aon PlcCOM0.81%$2M8.3K
29iShares MSCI China AETF0.79%$2M45.5K
30Canadian Pacific Railway LtdCOM0.79%$2M4.9K
31Shin Etsu Chem Co Ltd ADRADR0.78%$2M43.4K
32Zozo Inc Unsponsored ADRADR0.78%$2M312.4K
33Dell Technologies Inc Cl CCOM0.78%$2M20.7K
34Anglo American PLC Sp ADRADR0.77%$2M91.9K
35Broadcom LtdCOM0.77%$2M3.9K
36RELXRelx PLC Sp ADRADR0.75%$2M70.6K
37CGI Inc Cl ACOM0.75%$2M21.3K
38DUTMoodys CorpCOM0.75%$2M5.9K
39BHP GROUP LTDADR0.74%$2M25.0K
40NTDOYNintendo Ltd ADRADR0.73%$2M24.4K
41TMToyota Motor Corp Sp ADR 2ADR0.72%$2M10.9K
42Recruit Holdings Co Ltd UnsponADR0.72%$2M172.1K
43Headhunter Group PLC Sp ADSADR0.72%$2M49.9K
44OTXOpen Text CorpCOM0.70%$2M34.7K
45SNPSSynopsys IncCOM0.70%$2M6.7K
46CDW CorpCOM0.69%$2M9.9K
47SHWSherwin Williams CoCOM0.67%$2M2.2K
48AMEAmetek IncCOM0.67%$2M12.4K
49Cbre Group IncCOM0.66%$2M19.7K
50ADIAnalog Devices IncCOM0.66%$2M10.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$115M55May 1, 202613F-HRchanges · EDGAR ↗
Q4 2025$114M55Feb 2, 202613F-HRchanges · EDGAR ↗
Q3 2025$118M57Nov 4, 202513F-HRchanges · EDGAR ↗
Q2 2025$112M56Jul 28, 202513F-HRchanges · EDGAR ↗
Q1 2025$117M54Apr 28, 202513F-HRchanges · EDGAR ↗
Q4 2024$101M51Feb 3, 202513F-HRchanges · EDGAR ↗
Q3 2024$114M50Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$97M49Aug 5, 202413F-HRchanges · EDGAR ↗
Q1 2024$100M51May 8, 202413F-HRchanges · EDGAR ↗
Q4 2023$94M54Jan 23, 202413F-HRchanges · EDGAR ↗
Q3 2023$88M53Oct 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$95M56Aug 8, 202313F-HRchanges · EDGAR ↗
Q1 2023$82M53May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$79M55Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$64M54Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$148M117Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$195M118May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$226M118Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$213M120Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$236M130Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$236M129May 13, 202113F-HRchanges · EDGAR ↗
Q4 2020$232M122Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$208M114Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$185M104Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$160M101May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$218M103Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$205M106Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$222M106Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$238M114May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$214M117Feb 13, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.