What smart money is saying about Air Transport Services Group Inc.
ATSG
No fund has written a full thesis on Air Transport Services Group Inc. in our archive, but 2 fund letters report a position in it — most recently AMG River Road Small Mid Cap Value Fund in June 2025.
Get an email when a fund writes about it
2
Reported positions
0
Bought
2
Sold
2
Letters
Position history
Between Q4 2024 and Q2 2025, 2 fund letters reported a position in Air Transport Services Group Inc. — 2 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2025 | 1 | 0 | 1 | 0 |
| Q4 2024 | 1 | 0 | 1 | 0 |
Fund activity · 2 positions · 2 moves
- June 2025
Listed in AMG River Road Small Mid Cap Value Fund’s reported holdings.
Air Transport Services Group Inc. - December 2024
“Another positive contributor was Air Transport Services Group Inc. (ATSG), the premier lessor of Boeing 767 freighter aircraft essential to support e-commerce. On November 4, ATSG rallied 26% after agreeing to a takeover bid from the private equity infrastructure firm Stonepeak at $22.50 per share, representing only 87% of our $26 assessed value. In hindsight, we believe our assessed value did not properly handicap the wide range of potential outcomes after the company made the ill-fated decision in 2023 to significantly expand its fleet and increase financial leverage without signed customer contracts. However, by mid-year 2024, ATSG had stabilized its fleet and inflected to attractive positive free cash flow. Our thesis on ATSG hinged on secular demand for its fleet capabilities and a pivot to free cash flow, thus we believe private equity is likely making a well-timed acquisition of ATSG. After the conclusion of the go-shop period with no superior offers, we exited ATSG for better risk/reward opportunities shortly after quarter-end.”
Air Transport Services Group Inc.
Read the letters behind these Air Transport Services Group Inc. positions
Every quote above comes from a fund letter in our archive. Get unlimited access to the letters themselves — and to Warren AI, which reads all of them for you.
View plans→Share this ledger