Why Do Hedge Funds Like Graphic Packaging Holding Company (GPK)?

Using our database of 749 hedge funds that filed 13F’s for the June 30 reporting period, the number of funds long Graphic Packaging Holding Company (NYSE:GPK) fell by five quarter-over-quarter to 36 at the end of June. Those 36 funds owned $1.04 billion worth of Graphic Packaging Holding Company (NYSE:GPK) shares, which accounted for 25.80% of the float on June 30.

In terms of individual activity, the top shareholder of the stock in our database was David Cohen and Harold Levy‘s Iridian Asset Management, which cut its stake in it by 7% during the second quarter, to 26.53 million shares, good for a 3.08% chunk of its portfolio. First Eagle Investment Management also trimmed its Graphic Packaging holding during the period, by 2% year-over-year to 9.62 million shares. Going the opposite way was Barry Rosenstein‘s JANA Partners, which initiated a position of 10.34 million shares between March 31 and June 30. Overall, seven out of the top-ten shareholders of Graphic Packaging in our system on June 30 cut the size of their stake in the company during the second quarter.

Disclosure: None