Billionaire Richard Chilton’s Latest Portfolio: Top 5 Stock Picks

3. Ball Corporation (NYSE:BALL)

Chilton Investment Company’s stake value: $246 million

Percentage of Chilton Investment Company’s Portfolio: 6.87%

Number of Hedge Fund Holders: 24

Ball Corporation (NYSE:BALL) is an aluminum can maker that is one of the oldest companies of its kind as it was set up in 1880 and is headquartered in Westminster, Colorado, the United States. The company sells aluminum beverage cans all over the globe.

As the second quarter of this year came to an end, Chilton Investment Company held a $246 million stake in Ball Corporation (NYSE:BALL) which came in the form of 3.5 million shares and represented 6.87% of the firm’s holdings. Insider Monkey’s Q2 2022 study of 895 hedge fund portfolios saw 24 investors in the can maker.

Ball Corporation (NYSE:BALL)’s business nature leaves it relatively insulated to larger macroeconomic shocks, making it a perfect investment for the currently tumultuous environment. Despite the global economy going into multiple shocks over the past three years, Ball Corporation (NYSE:BALL) has managed to consistently grow its return over invested capital (ROIC). However, Barclays reduced the company’s share price target to $55 from $80 in September 2022 following its second quarter results.

Ball Corporation (NYSE:BALL)’s largest investor after Chilton Investment Company is Greg Poole’s Echo Street Capital Management which owns 1.3 million shares that are worth $95 million.

NZS Capital mentioned the company in its Q2 022 investor letter. Here is what the fund said:

“We believe the stock valuations of these companies, and their sectors as a whole, reflect an overly pessimistic view of their long-term growth potential and an underestimation of the deflationary forces they bring to the economy, and we therefore added to many existing positions. Aluminum can maker and aerospace company Ball detracted from performance over fears consumers would curtail their large, pandemic-era grocery store beverage purchases.”