UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Atlas Air Worldwide Holdings, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
049164205
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(CUSIP Number)
February 13, 2007
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this is filed:
[X] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Page 1 of 6 pages)
CUSIP No. 049164205
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Ore Hill Hub Fund Ltd.
Tax I.D. 98-0379390
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization Cayman Islands
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Number of 5. Sole Voting Power 0
Shares ---------------------------------------------------
Beneficially 6. Shared Voting Power 1,247,904
Owned by ---------------------------------------------------
Each Reporting 7. Sole Dispositive Power 0
Person With ---------------------------------------------------
8. Shared Dispositive Power 1,247,904
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,247,904
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See instructions) [ ]
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11. Percent of Class Represented by Amount in Row (9)
6.24%
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12. Type of Reporting Person (See Instructions)
OO
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(Page 2 of 6 pages)
CUSIP No. 049164205
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Ore Hill Partners LLC
Tax I.D. 03-0420197
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization Delaware
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Number of 5. Sole Voting Power 0
Shares ---------------------------------------------------
Beneficially 6. Shared Voting Power 1,247,904
Owned by ---------------------------------------------------
Each Reporting 7. Sole Dispositive Power 0
Person With ---------------------------------------------------
8. Shared Dispositive Power 1,247,904
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,247,904
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See instructions) [ ]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
6.24%
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12. Type of Reporting Person (See Instructions)
IA
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(Page 3 of 6 pages)
Item 1.
(a) Name of Issuer:
Atlas Air Worldwide Holdings, Inc.
(b) Address of Issuer's Principal Executive Offices:
2000 Westchester Avenue, Purchase, New York 10577
Item 2.
(a) Name of Persons Filing:
This Statement relates to shares held by Ore Hill Hub Fund Ltd.
("OH Hub Fund"). Ore Hill Partners LLC ("OH Partners") is the
investment manager of the OH Hub Fund and, accordingly, may be
deemed to have or share voting and dispositive power with respect
to the shares reported herein.
(b) Address of Principal Business Office or, if none, Residence:
The address of the principal business office of: (i) OH Hub Fund
is c/o BISYS Hedge Fund Services (Cayman) Ltd., P.O. Box 1748GT,
Cayman Corporate Centre, George Town, Grand Cayman, Cayman
Islands, BWI, and (ii) OH Partners is 650 Fifth Avenue, 9th Floor,
New York, New York 10019.
(c) Citizenship:
OH Hub Fund is a Cayman Islands exempted company. OH Partners is a
Delaware limited liability company.
(d) Title of Class of Securities:
Common Stock, par value $.01 per share
(e) CUSIP Number:
049164205
Item 3.
OH Partners is a registered investment adviser under Section 203
of the Investment Advisers Act and, accordingly, is filing this
Statement as:
[X] An Investment Adviser in accordance with Rule
13d-1(b)(1)(ii)(E).
This Statement is not being filed pursuant to Rule 13d-1(b), or
13d-2(b) or (c) with respect to OH Hub Fund.
Item 4. Ownership.
As to each person joining in the filing of this Statement
(a) Amount beneficially owned: 1,247,904 shares held by OH Hub
Fund.
(b) Percent of class: 6.24%.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0.
(ii) Shared power to vote or to direct the vote: 1,247,904 shares.
(iii) Sole power to dispose or to direct the disposition of: 0.
(iv) Shared power to dispose or to direct the disposition of:
1,247,904 shares.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
(Page 4 of 6 pages)
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of a Group.
Not applicable.
Item 10. Certification.
By signing below OH Partners certifies that, to the best of its
knowledge and belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
By signing below OH Hub Fund certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 13, 2007
ORE HILL PARTNERS LLC,
individually and on behalf of
ORE HILL HUB FUND LTD.
By: /s/ CLAUDE A. BAUM
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Name: Claude A. Baum
Title: General Counsel
(Page 5 of 6 pages)
Exhibit Index
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Exhibit Page No.
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A. Joint Filing Agreement, dated December 19, 2006, [Previously filed]
by and between Ore Hill Hub Fund Ltd. and Ore
Hill Partners LLC
(Page 6 of 6 pages)