LRT Capital Adjusts Holdings
LRT Capital Adjusts Holdings, Adds $2.2 Million to Atmos Energy and New CSW Industrials Stake
Key Points
For Atmos Energy, LRT said the new holding makes the stock its 16th biggest portfolio position, at about 1.9% of the portfolio; the filing also notes institutional investors own 90.17% of Atmos’s shares.
Analysts cited in the Atmos Energy coverage included TD Cowen, which raised its price target from $193.00 to $196.00 while maintaining a “hold” rating (May 15).
For CSW Industrials, the articles report the company’s quarterly dividend was paid on May 8, with shareholders of record on April 24 receiving $0.30 per share (annualized $1.20; ~0.4% yield).
Simpson Manufacturing: LRT reduced its stake by selling 6,937 shares to end the quarter with 19,592 shares; the articles also describe Simpson as LRT’s 7th biggest holding (~2.7% of its portfolio) with the position valued at about $3.164 million.
Wheaton Precious Metals: the coverage specifies the declared quarterly dividend paid on June 9 was $0.195 per share, with investors of record on May 27.
LRT Capital Management added roughly 13,197 shares of Atmos Energy to its portfolio in the fourth quarter, a $2.21 million bet that lifted the natural gas utility to the firm's 16th largest holding at about 1.9% of assets, according to Watchlist News. The move signals a clear tilt toward defensive, cash-flow-heavy infrastructure plays by the Dallas-based fund.
The filing also revealed a fresh $1.55 million stake in CSW Industrials, a 26.1% cut to its Simpson Manufacturing position, and a new purchase of roughly 6,643 shares of Wheaton Precious Metals, painting a picture of a manager rotating away from cyclicals and toward assets built to weather inflation and energy volatility.
LRT Bets Big on Natural Gas as Inflation Bites
Atmos Energy is the largest pure-play natural gas distributor in the United States. LRT now owns roughly 13,197 more shares of the company, pushing its total position to about $2.21 million in new exposure. Institutional investors already control 90.17% of Atmos's outstanding shares, according to Ticker Report. TD Cowen analyst Shelby Tucker raised her price target on the stock from $193 to $196 on May 15 but kept a "Hold" rating, citing concern over regulatory lag and interest rate volatility.
Atmos CEO Kevin Akers said 85% of the company's $4.2 billion annual capital budget goes toward "safety and reliability" upgrades to its gas distribution network. The company recently raised its quarterly dividend to $1.00 per share — a 14.9% jump — and lifted full-year EPS guidance to a range of $8.40 to $8.50. For LRT, a firm known for targeting companies with durable competitive advantages, that combination of regulated cash flows and rising dividends fits its core strategy.
New CSW Industrials Stake Arrives After Record Earnings Beat
LRT also opened a brand-new position in CSW Industrials, buying 5,280 shares worth about $1.55 million, making it the fund's 29th largest holding, according to Ticker Report. The timing aligns with a strong earnings period for the company. CSW reported a record adjusted EPS of $3.14 for Q4 2026 on May 26, beating analyst estimates by 30%. CEO Joseph Armes highlighted the company crossing $1 billion in annual revenue, driven by acquisitions in HVAC and plumbing components.
CSW paid a quarterly dividend of $0.30 per share on May 8, with an April 24 record date. That works out to $1.20 annualized, a yield of roughly 0.4%. Zacks Research upgraded the stock to a "Strong Buy" after the earnings beat, even as net debt climbed to $842 million due to acquisitions. The firm argued the company's 39% growth in adjusted EBITDA — a measure of operating profit — justifies the added leverage.
LRT Trims Simpson Manufacturing as Housing Pressure Mounts
While LRT was buying into utilities and industrials, it was selling out of Simpson Manufacturing. The fund cut its stake by 26.1%, selling 6,937 shares to end the quarter with 19,592 shares worth about $3.16 million. That still makes Simpson LRT's 7th largest holding at roughly 2.7% of the portfolio. But the direction of the trade is notable. Simpson makes structural connectors used in home construction — a sector under heavy pressure.
U.S. inflation ran at 4.25% in June 2026, and elevated mortgage rates have suppressed new construction starts. LRT's trimming of a homebuilding-adjacent stock while adding to gas utilities and a gold streaming company suggests the fund expects a "higher-for-longer" rate environment to persist. LRT founder Lukasz Tomicki has said publicly that he is avoiding "AI frenzy" in favor of defensive infrastructure and cash-flow-heavy assets, according to his firm's strategy materials.
Wheaton Precious Metals Purchase Signals Flight-to-Safety Thinking
LRT rounded out its repositioning with a purchase of 6,643 shares of Wheaton Precious Metals, worth about $781,000. Wheaton is a gold streaming company — meaning it pays miners upfront cash in exchange for the right to buy their gold at a fixed, low price later. That model keeps costs predictable and protects profits when fuel and labor prices rise, making it a favorite during inflationary periods.
Wheaton paid a quarterly dividend of $0.195 per share on June 9, with a May 27 record date. The purchase fits LRT's broader move toward assets that hold value when inflation is high and traditional markets are shaky. Tomicki's firm has described its approach as hunting for "undervalued businesses with economic moats" — companies with built-in advantages that competitors cannot easily copy. Wheaton's fixed-cost streaming model is a textbook example of exactly that kind of structural edge.
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