Graphic Packaging Holding Company (GPK): David Einhorn Remains Bullish on This Stock

Graphic Packaging Holding Company (NYSE:GPK) is featured on the David Einhorn Stock Portfolio: Top 10 Stock Picks.

Graphic Packaging Holding Company (NYSE:GPK) has been a consistent feature in the 13F portfolio of Greenlight Capital since the second quarter of 2021. This position comprised 847,000 shares. The holding stayed relatively untouched till late 2022 when the fund added to this stake by nearly 30%. By late 2023, the holding comprised over 2.5 million shares. In the coming months, the fund reduced this stake to just over a million shares. It started loading up on the stock again in the second quarter of 2025, growing the position by 350%. Filings for the fourth quarter of 2025 show that the fund owned 8.4 million shares in the firm, up close to 80% compared to filings for the previous quarter.

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A core part of the bull thesis on Graphic Packaging Holding Company (NYSE:GPK) is the completion of the Waco, Texas greenfield mill, a $1.67 billion investment. The Waco facility is now substantially complete. Hedge funds expect this to drive significant productivity enhancements, transitioning the company from a high-capex cycle to a high-free-cash-flow cycle. Management has guided for $700 million–$800 million in adjusted free cash flow for 2026. As global brands face increasing pressure to ditch plastic, GPK’s fiber-based, renewable packaging is viewed as a secular winner. Over 70% of GPK’s revenue comes from essential food and beverage packaging, which provides a defensive buffer during economic volatility.

While we acknowledge the risk and potential of GPK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GPK and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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