Key Points
Atlantic Investment Management sold 645,584 shares of Graphic Packaging in the fourth quarter.
As a result, the quarter-end position value decreased by $12.63 million, reflecting both share sales and price movement.
The position previously accounted for 7.3% of fund AUM as of the prior quarter.
On February 17, 2026, Atlantic Investment Management, Inc. disclosed it sold out its entire stake in Graphic Packaging(NYSE:GPK), an estimated $12.63 million trade.
What happened
According to a recent SEC filing dated February 17, 2026, Atlantic Investment Management, Inc. completely exited its position in Graphic Packaging during the fourth quarter of 2025. The fund sold all 645,584 shares, with the quarter-end value of the position falling by $12.63 million, consistent with the liquidation.
What else to know
- The fund sold out its entire holding in Graphic Packaging, which previously represented 7.3% of 13F reportable assets under management in the prior quarter.
- Post-filing, top holdings are:
- NYSE:AXTA: $33.09 million (18.6% of AUM)
- NYSE:KEX: $24.57 million (13.8% of AUM)
- NYSE:FLS: $21.79 million (12.3% of AUM)
- NYSE:APTV: $21.00 million (11.8% of AUM)
- NYSE:OSK: $19.42 million (10.9% of AUM)
- As of February 17, 2026, shares of Graphic Packaging were priced at $12.37, down 53.2% over the past year and significantly underperforming the S&P 500’s roughly 13% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close February 17, 2026) | $12.37 |
| Market capitalization | $3.65 billion |
| Revenue (TTM) | $8.62 billion |
| Net income (TTM) | $444.00 million |
Company snapshot
- Graphic Packaging offers fiber-based packaging products, including coated paperboard, folding cartons, cups, lids, food containers, and barrier packaging solutions.
- The firm generates revenue primarily through manufacturing and distributing packaging materials and specialized packaging machinery to the food, beverage, and consumer goods sectors.
- It serves consumer packaged goods companies, quick-service restaurants, and foodservice providers across the Americas, Europe, and Asia Pacific.
Graphic Packaging is a leading provider of fiber-based packaging solutions, operating at scale with a global customer base and a diverse product portfolio. The company leverages integrated manufacturing capabilities and a broad distribution network to deliver value-added packaging products to major consumer brands. Its focus on innovation and operational efficiency supports its competitive positioning within the packaging and containers industry.
What this transaction means for investors
It’s been a rough year for Graphic Packaging, and this exit signals a clear pivot away from a capital-heavy turnaround story in favor of higher-conviction industrial names already showing operational momentum.
Graphic Packaging’s 2025 results were solid on paper but trending the wrong way. Net sales slipped 2% to $8.6 billion, while net income fell to $444 million from $658 million the year prior as margins compressed meaningfully year over year. At the same time, net leverage rose to 3.8x from 3.0x, even as the company spent $935 million in capital expenditures tied largely to its $1.67 billion Waco project.
Yes, management is targeting $700 million to $800 million in adjusted free cash flow in 2026. But that comes alongside guidance for lower adjusted EBITDA and EPS of $0.75 to $1.15, reflecting operational headwinds and inventory-related actions.
Nevertheless, for long-term investors, this looks less like panic selling and more like capital discipline. When leverage is rising and margins are shrinking, reallocating toward businesses with cleaner earnings momentum can be the smarter compounding move.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Aptiv. The Motley Fool recommends Flowserve. The Motley Fool has a disclosure policy.
