Polaris Capital Management, LLC — Global Equity Composite on Astor Enerji A.Ş.
Thesis
Polaris rotated into Astor after selling HD Hyundai Electric at what it considered a rich valuation. Astor is a Turkey-based transformer producer with a large order backlog. The position preserves exposure to power-equipment demand while shifting capital toward a business that the fund found more attractive at the time of purchase.
“rotating into Astor Transformator Enerji, a Turkey-based transformer producer with a large backlog.”