Below we present the list of top 5 stocks to buy and hold according to MIG Capital. If you want to read our comprehensive analysis of Richard Merage’s history, investment philosophy, and hedge fund performance, go directly to Top 10 Stocks to Buy and Hold According to MIG Capital.
5. Ball Corporation (NYSE:BLL)
Ball Corporation (NYSE:BLL) leads us into the second half of our list, having been owned by MIG Capital since the middle of 2018. The fund owned 549,854 shares of the packaging company on September 30, which had a market value of $49.47 million.
There was a substantial hedge fund exodus from Ball Corporation (NYSE:BLL) in Q3, as 37% of Ball Corporation (NYSE:BLL)’s former hedge fund shareholders from within Insider Monkey’s database unloaded the stock during the period. Hedge funds apparently didn’t approve either of Ball Corporation (NYSE:BLL)’s plans to build a new $290 million beverage can plant in Nevada, which was announced in September, or of Ball Corporation (NYSE:BLL)’s $850 million offering of senior notes earlier that month, or both.
ClearBridge Investments, an investment management firm, published its “Sustainability Leaders Strategy” third quarter 2021 investor letter and highlighted Ball Corporation (NYSE:BLL). Here is what the fund said:
“Ball, the largest manufacturer of recyclable aluminum beverage cans in North America, bucked headwinds for the materials sector with strong quarterly results and was supported by contracts indicative of further growth.”