Fund Reduces Lucky Strike Stake Amid 13% Slide

On November 13, a filing with the Securities and Exchange Commission laid bare the quiet drama of portfolio management: Alta Fundamental Advisers, once a steadfast holder, shed nearly half its stake during the third quarter. What remains is a holding of 1.1 million shares, valued at $11.2 million as of September 30-a sum that now constitutes but 4.78% of the fund’s reportable assets, down from 10.2% in the preceding quarter. The transaction, though mechanical in execution, whispers of deeper anxieties. Can a company whose shares have faltered so profoundly still claim a place among the elect?






