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ACK Asset Management’s Returns, AUM, and Holdings

The largest two positions in ACK Asset Management’s portfolio at the end of the third quarter were in Astronics Corporation (NASDAQ:ATRO) and EnerSys (NYSE:ENS), which occupied 11.74% and 10.32% of its portfolio, respectively. In Astronics Corporation (NASDAQ:ATRO), the fund held 983,099 shares outstanding that were worth around $42.77 million. The fund raised its stake in EnerSys (NYSE:ENS) by 10% during Q3 to 431,411 shares, valued at $37.59 million.

Out of the four new positions added to ACK’s 13F portfolio, the biggest was in composite wind blades manufacturer TPI Composites Inc (NASDAQ:TPIC), with the fund acquiring 325,000 shares of the company worth $9.28 million on September 30. This was followed by an investment in Century Communities Inc (NYSE:CCS), as the fund bought 160,000  shares valued at $4.2 million at Q3’s end. Two other companies also attracted a lot of interest from ACK Asset Management during the third quarter. One was Forrester Research, Inc. (NASDAQ:FORR), in which the fund boosted its stake by 159% to 193,600 shares, worth $8.89 million. Another was Valmont Industries, Inc. (NYSE:VMI), in which the fund raised its stake by 45% to 140,000 shares valued at $19.39 million.

ACK Asset Management did seemingly start to lose faith in some of the companies in its portfolio during Q3. It has decreased its stake in Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 61% to 100,000 shares and more than halved its stake in Manhattan Associates, Inc. (NASDAQ:MANH) to 50,000 shares. The biggest positions the fund decided to drop in the third quarter were its holdings in Continental Building Products Inc (NYSE:CBPX) and Milacron Holdings Corp (NYSE:MCRN), saying goodbye to 731,891 shares of CBPX and 801,800 shares of MCRN.

Disclosure: None

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