ATLANTA CAPITAL MANAGEMENT CO L L C — 13F Portfolio

ATLANTA CAPITAL MANAGEMENT CO L L C (Atlanta Capital Management Company, LLC) is a U.S. equity investment boutique headquartered in Atlanta, Georgia. Established in the late 1960s, the firm has built a long-standing reputation for conservative, high-quality growth investing across U.S. equity markets. Atlanta Capital manages separate accounts, commingled vehicles, and sub-advised funds for institutional investors, intermediaries, and high-net-worth clients. The firm operates as an SEC-registered investment adviser and is an affiliate of Eaton Vance, which in turn is part of Morgan Stanley Investment Management. Within that structure Atlanta Capital retains a distinct, research-centric culture and investment process focused on high-conviction stock selection rather than product manufacturing. For regulatory purposes, Atlanta Capital files Form 13F with the Securities and Exchange Commission under CIK #1027817. These filings disclose the firm’s reportable long positions in U.S.-listed equities and certain equity-like securities each quarter. While many of the firm’s strategies invest across the market-cap spectrum—including large-cap, mid-cap, SMID-cap, and dividend-oriented mandates—the 13F reports provide a consolidated snapshot of U.S.-listed holdings across accounts that meet the SEC reporting thresholds. On an analytics platform, all submissions under CIK #1027817 can be aggregated into a continuous 13F History, allowing allocators to examine the evolution of Atlanta Capital’s disclosed long book over time in a consistent, position-level format.

Atlanta Capital’s core investment philosophy is high-quality, growth-at-a-reasonable-price (GARP) stock selection with a pronounced emphasis on downside protection. The firm typically seeks companies with durable competitive advantages, strong balance sheets, stable and visible earnings growth, and management teams with disciplined capital allocation records. Key elements of the approach include: - Quality focus: Preference for businesses with high returns on capital, recurring revenue or cash flow, limited financial leverage, and defensible market positions. - Valuation discipline: Avoidance of speculative, momentum-driven names; instead, the team looks for companies trading at reasonable valuations relative to their growth prospects and quality profile. - Risk-aware construction: Portfolios are built with an eye toward lower-than-market volatility and better downside resilience, often leading to underweights in highly cyclical and capital-intensive sectors. - Long-term horizon: Holdings are generally maintained over multi-year periods, with turnover driven by structural thesis changes or valuation extremes rather than short-term price movements. Atlanta Capital runs a range of U.S. equity strategies—such as large-cap quality growth, SMID-cap, and high-quality dividend mandates—that share this common philosophy but differ in capitalization and income objectives. Sector allocations are primarily the output of bottom-up stock selection; however, the process naturally produces persistent tilts toward sectors where high-quality franchises are prevalent, notably industrials, consumer, financials, and healthcare, with relatively modest structural exposure to deep cyclicals and speculative segments. Within the Form 13F dataset, this style manifests as a concentrated but diversified set of high-quality U.S. equities, often biased toward mid- and large-cap issuers with consistent earnings profiles. A detailed review of the firm’s 13F Portfolio Composition across time can reveal: - The stability of core holdings and the degree of concentration in top positions; - Recurring sector and factor tilts (e.g., quality, lower leverage, earnings stability); - The cadence of changes as new ideas enter and mature holdings are trimmed or exited. Feeding this holdings history into a Portfolio Simulator or Backtesting Service enables creation of a long-only replication of Atlanta Capital’s disclosed U.S.-listed book. That reconstructed series offers a data-driven view of how the firm’s public idea set would have compounded over multiple market cycles.

ATLANTA CAPITAL MANAGEMENT CO L L C stands out in the 13F universe as a long-established, high-quality U.S. equity boutique headquartered in Atlanta and operating within a larger global asset management group. Its public filings under CIK #1027817 provide a consistent, position-level record of how the firm’s quality- and GARP-oriented philosophy has been implemented in U.S.-listed securities. By aggregating these filings into a coherent dataset, an analytics platform can construct a 13F-based Historical Track Record for a shadow portfolio that simply holds Atlanta Capital’s reported positions between quarter-ends. Examining this reconstructed capital trajectory alongside evolving 13F Portfolio Composition—sector balance, issuer concentration, and factor tilts—helps allocators understand how the manager’s high-quality growth discipline has behaved across different market regimes. Overlaying diagnostics such as Max Drawdown Depth and a holdings-derived Sharpe Ratio provides additional insight into the variability and risk-adjusted characteristics of the 13F-implied long-equity sleeve. Used in combination with a Portfolio Simulator and related backtesting tools, these analytics offer an independent, public-data-based perspective that complements qualitative due diligence and manager-provided information. The key open question for allocators is how Atlanta Capital’s historically conservative, quality-focused equity profile—when viewed through this 13F-based reconstruction—responds to shifts in market leadership, interest-rate environments, and volatility regimes: does the exposure pattern and capital trajectory remain consistently defensive across cycles, or does the firm dynamically adjust its quality and growth tilts as conditions evolve?

Atlanta Capital’s strategies are designed to participate in equity market upside while seeking to mitigate downside risk. At the portfolio level, this objective is expressed through security selection—emphasizing balance sheet strength and earnings resilience—as well as through diversification and valuation discipline. Through the lens of Form 13F, the observable risk characteristics of the disclosed U.S. long-equity sleeve typically include: - Equity market sensitivity: Portfolios carry meaningful beta to U.S. equity benchmarks, but historically with lower volatility than the broad market due to quality and stability screens. - Concentration and sector tilts: Capital is focused in a finite list of high-conviction names, leading to measurable single-name and sector exposures (especially in quality-rich sectors) relative to capitalization-weighted indices. - Factor exposures: Distinct tilts toward quality, profitability, lower leverage, and moderate growth, and away from deep value, high leverage, and highly speculative profiles; these factor exposures drive tracking error versus broad benchmarks. - Drawdown behavior: Historically, a quality-GARP orientation and avoidance of structurally fragile businesses can lead to smaller drawdowns relative to the market in severe stress periods, though this effect varies by regime. Using the firm’s 13F History as a sequence of quarter-end snapshots, an allocator can construct a synthetic, long-only capital path representing a portfolio that holds Atlanta Capital’s disclosed positions between filings. Performance Backtests Online applied to this reconstruction allow estimation of volatility, beta, and downside characteristics. Metrics such as Max Drawdown Depth quantify the worst peak-to-trough contraction experienced by the replicated sleeve, while a holdings-derived Sharpe Ratio summarizes the trade-off between the reconstructed excess growth rate and its variability. It is important to recognize that Form 13F does not reveal non-U.S. securities, cash, or any derivatives or overlay strategies that might be employed in certain accounts, nor does it show intra-quarter trading. Nevertheless, for a long-only, fundamentally driven equity manager like Atlanta Capital, the 13F dataset provides a reasonably representative lens on the core equity exposures and their historical risk patterns.