Ativo Capital Management

CHICAGO, ILfiles as Ativo Capital Management LLC

$131m in 56 US stocks at the end of 30 June 2026. The top 10 are 43.7% of the money. It changed about 17.8% of the portfolio this quarter.

Value

$131m

Stocks

Top 10 share

43.7%

Turnover

17.8%

What changed this quarter

New

Bought for the first time this quarter.

H World GroupHTHT
4.3% of the fund
Industria De Diseno Textil SAIDEXY
1.3% of the fund
Kinross GoldKGC
1.1% of the fund
Buenaventura MiningBVN
1.0% of the fund
ING Groep NVING
1.0% of the fund

Added

Bought more of a stock they already held.

Taiwan Semiconductor ManufacturingTSM
9.7% of the fund
+37%
AerCap HoldingsAER
7.0% of the fund
+50%
ASML Holding NVASML
2.6% of the fund
+41%
AdvantestATEYY
2.2% of the fund
+14%
Barrick MiningB
1.9% of the fund
+2%

Cut

Sold some of their stake.

Sompo HoldingsSMPNY
1.6% of the fund
-22%
ABB LTD -Spons ADRABBNY
1.6% of the fund
-17%
Engie S A Fsponsored ADR 1 ADR Reps 1 ORD SHSENGIY
1.4% of the fund
-16%
Gildan ActivewearGIL
1.1% of the fund
-9%
Assicurazioni Gen-Unspon ADRARZGY
1.1% of the fund
-23%
KomatsuKMTUY
1.0% of the fund
-23%
Volvo ABVLVLY
1.0% of the fund
-26%
ENI SPAE
0.4% of the fund
-78%

Sold out

Sold their entire stake.

Woori Finl GroupWF
-100%
Check Point Software TechnologiesCHKP
-100%
Kunlun EnergyKLYCY
-100%
3I Group PLC FTGOPY
-100%

Holdings

Taiwan Semiconductor ManufacturingTSM
Share
9.7%
Value
$13m
Shares
26,463
+37%
AerCap HoldingsAER
Share
7.0%
Value
$9m
Shares
62,518
+50%
CredicorpBAP
Share
5.6%
Value
$7m
Shares
18,710
Held
H World GroupHTHT
Share
4.3%
Value
$6m
Shares
135,910
New
Netease.comNTES
Share
3.6%
Value
$5m
Shares
36,800
Held
Franklin Templeton ETF TRFLIN
Share
3.5%
Value
$5m
Shares
130,120
Held
Yum China HoldingsYUMC
Share
3.2%
Value
$4m
Shares
100,960
Held
ASML Holding NVASML
Share
2.6%
Value
$3m
Shares
1,696
+41%
AdvantestATEYY
Share
2.2%
Value
$3m
Shares
13,637
+14%
Royal Bank of CanadaRY
Share
2.1%
Value
$3m
Shares
13,041
Held
Banco Bilbao Vizcaya ArgentariaBBVA
Share
2.0%
Value
$3m
Shares
101,890
Held
Barrick MiningB
Share
1.9%
Value
$3m
Shares
68,202
+2%
Novartis AGNVS
Share
1.9%
Value
$2m
Shares
15,609
Held
Toronto Dominion BankTD
Share
1.8%
Value
$2m
Shares
19,265
Held
DBS Group HoldingsDBSDY
Share
1.6%
Value
$2m
Shares
10,427
Held
Sompo HoldingsSMPNY
Share
1.6%
Value
$2m
Shares
109,247
-22%
ABB LTD -Spons ADRABBNY
Share
1.6%
Value
$2m
Shares
18,835
-17%
British American Tobacco p.l.c.BTI
Share
1.5%
Value
$2m
Shares
32,322
Held
WH Group LTD Sponsored ADRWHGLY
Share
1.5%
Value
$2m
Shares
92,650
Held
Agnico Eagle MinesAEM
Share
1.5%
Value
$2m
Shares
12,599
Held
OrixIX
Share
1.5%
Value
$2m
Shares
51,144
Held
Allianz SEALIZY
Share
1.5%
Value
$2m
Shares
41,216
Held
Unicredit SpaUNCRY
Share
1.5%
Value
$2m
Shares
42,441
Held
Companhia de Saneamento BasiSBS
Share
1.4%
Value
$2m
Shares
327,423
Held
Ageas Spon ADRAGESY
Share
1.4%
Value
$2m
Shares
23,011
Held
Engie S A Fsponsored ADR 1 ADR Reps 1 ORD SHSENGIY
Share
1.4%
Value
$2m
Shares
57,337
-16%
Ipsen Sa Sp AdrIPSEY
Share
1.4%
Value
$2m
Shares
38,753
Held
CIA Energetica de Minas GeraCIG
Share
1.3%
Value
$2m
Shares
808,007
Held
Nordea Bank AbpNRDBY
Share
1.3%
Value
$2m
Shares
89,574
Held
Industria De Diseno Textil SAIDEXY
Share
1.3%
Value
$2m
Shares
107,032
New
Tesco PLC Sponsored ADRTSCDY
Share
1.2%
Value
$2m
Shares
88,537
Held
MakitaMKTAY
Share
1.2%
Value
$2m
Shares
45,002
Held
AXA SAAXAHY
Share
1.2%
Value
$2m
Shares
32,076
Held
QBE INS GroupQBIEY
Share
1.2%
Value
$2m
Shares
91,497
Held
Credit Agricole Sa Unsponsored AdrCRARY
Share
1.2%
Value
$2m
Shares
154,438
Held
Prosus N V FPROSY
Share
1.2%
Value
$2m
Shares
176,339
Held
DNB Bank ASA SponsoredDNBBY
Share
1.2%
Value
$2m
Shares
51,397
Held
Gildan ActivewearGIL
Share
1.1%
Value
$1m
Shares
28,312
-9%
Lundin GoldLUGDF
Share
1.1%
Value
$1m
Shares
26,729
Held
Assicurazioni Gen-Unspon ADRARZGY
Share
1.1%
Value
$1m
Shares
58,651
-23%
Southeast Airport GroupASR
Share
1.1%
Value
$1m
Shares
4,522
Held
Kinross GoldKGC
Share
1.1%
Value
$1m
Shares
58,295
New
KomatsuKMTUY
Share
1.0%
Value
$1m
Shares
35,063
-23%
MS and AD Insurance Group HoldingsMSADY
Share
1.0%
Value
$1m
Shares
52,137
Held
Volvo ABVLVLY
Share
1.0%
Value
$1m
Shares
40,025
-26%
Buenaventura MiningBVN
Share
1.0%
Value
$1m
Shares
46,082
New
Harmony Gold MiningHMY
Share
1.0%
Value
$1m
Shares
86,460
Held
ING Groep NVING
Share
1.0%
Value
$1m
Shares
41,776
New
UnileverUL
Share
1.0%
Value
$1m
Shares
21,207
Held
Fujitsu Limited ADRFJTSY
Share
0.9%
Value
$1m
Shares
58,025
Held
Raiffeisen Bank Intl Ag AdrRAIFY
Share
0.8%
Value
$1m
Shares
65,099
Held
Oversea Chinese BKOVCHY
Share
0.7%
Value
$856,689
Shares
22,298
Held
Centrica PLC FCPYYY
Share
0.6%
Value
$827,414
Shares
90,329
Held
Standard Bank GroupSGBLY
Share
0.6%
Value
$744,312
Shares
37,516
Held
Allwyn AG ADRGOFPY
Share
0.4%
Value
$573,684
Shares
72,380
Held
ENI SPAE
Share
0.4%
Value
$572,254
Shares
12,212
-78%

Company	Share of fund	Value	Shares	Change
Taiwan Semiconductor ManufacturingTSM	9.7%	$13m	26,463	+37%
AerCap HoldingsAER	7.0%	$9m	62,518	+50%
CredicorpBAP	5.6%	$7m	18,710	Held
H World GroupHTHT	4.3%	$6m	135,910	New
Netease.comNTES	3.6%	$5m	36,800	Held
Franklin Templeton ETF TRFLIN	3.5%	$5m	130,120	Held
Yum China HoldingsYUMC	3.2%	$4m	100,960	Held
ASML Holding NVASML	2.6%	$3m	1,696	+41%
AdvantestATEYY	2.2%	$3m	13,637	+14%
Royal Bank of CanadaRY	2.1%	$3m	13,041	Held
Banco Bilbao Vizcaya ArgentariaBBVA	2.0%	$3m	101,890	Held
Barrick MiningB	1.9%	$3m	68,202	+2%
Novartis AGNVS	1.9%	$2m	15,609	Held
Toronto Dominion BankTD	1.8%	$2m	19,265	Held
DBS Group HoldingsDBSDY	1.6%	$2m	10,427	Held
Sompo HoldingsSMPNY	1.6%	$2m	109,247	-22%
ABB LTD -Spons ADRABBNY	1.6%	$2m	18,835	-17%
British American Tobacco p.l.c.BTI	1.5%	$2m	32,322	Held
WH Group LTD Sponsored ADRWHGLY	1.5%	$2m	92,650	Held
Agnico Eagle MinesAEM	1.5%	$2m	12,599	Held
OrixIX	1.5%	$2m	51,144	Held
Allianz SEALIZY	1.5%	$2m	41,216	Held
Unicredit SpaUNCRY	1.5%	$2m	42,441	Held
Companhia de Saneamento BasiSBS	1.4%	$2m	327,423	Held
Ageas Spon ADRAGESY	1.4%	$2m	23,011	Held
Engie S A Fsponsored ADR 1 ADR Reps 1 ORD SHSENGIY	1.4%	$2m	57,337	-16%
Ipsen Sa Sp AdrIPSEY	1.4%	$2m	38,753	Held
CIA Energetica de Minas GeraCIG	1.3%	$2m	808,007	Held
Nordea Bank AbpNRDBY	1.3%	$2m	89,574	Held
Industria De Diseno Textil SAIDEXY	1.3%	$2m	107,032	New
Tesco PLC Sponsored ADRTSCDY	1.2%	$2m	88,537	Held
MakitaMKTAY	1.2%	$2m	45,002	Held
AXA SAAXAHY	1.2%	$2m	32,076	Held
QBE INS GroupQBIEY	1.2%	$2m	91,497	Held
Credit Agricole Sa Unsponsored AdrCRARY	1.2%	$2m	154,438	Held
Prosus N V FPROSY	1.2%	$2m	176,339	Held
DNB Bank ASA SponsoredDNBBY	1.2%	$2m	51,397	Held
Gildan ActivewearGIL	1.1%	$1m	28,312	-9%
Lundin GoldLUGDF	1.1%	$1m	26,729	Held
Assicurazioni Gen-Unspon ADRARZGY	1.1%	$1m	58,651	-23%
Southeast Airport GroupASR	1.1%	$1m	4,522	Held
Kinross GoldKGC	1.1%	$1m	58,295	New
KomatsuKMTUY	1.0%	$1m	35,063	-23%
MS and AD Insurance Group HoldingsMSADY	1.0%	$1m	52,137	Held
Volvo ABVLVLY	1.0%	$1m	40,025	-26%
Buenaventura MiningBVN	1.0%	$1m	46,082	New
Harmony Gold MiningHMY	1.0%	$1m	86,460	Held
ING Groep NVING	1.0%	$1m	41,776	New
UnileverUL	1.0%	$1m	21,207	Held
Fujitsu Limited ADRFJTSY	0.9%	$1m	58,025	Held
Raiffeisen Bank Intl Ag AdrRAIFY	0.8%	$1m	65,099	Held
Oversea Chinese BKOVCHY	0.7%	$856,689	22,298	Held
Centrica PLC FCPYYY	0.6%	$827,414	90,329	Held
Standard Bank GroupSGBLY	0.6%	$744,312	37,516	Held
Allwyn AG ADRGOFPY	0.4%	$573,684	72,380	Held
ENI SPAE	0.4%	$572,254	12,212	-78%

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 16.7% since 30 June 2025.

Where the money is

Technology16.7%

Financial services12.4%

Materials6.5%

Retail & consumer4.3%

Industrials3.6%

Health care1.9%

Everyday goods1.5%

Energy0.4%

Other52.7%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.