Viking Global Starts Position in Berry Global Group ~ market folly

Wednesday, October 24, 2018

Viking Global Starts Position in Berry Global Group

Per a 13G filed with the SEC, Andreas Halvorsen's hedge fund firm Viking Global now owns 5.5% of Berry Global Group (BERY) with over 7.19 million shares.

This is a newly disclosed position for the firm as they did not own any shares as of the end of the second quarter.

The filing was made due to portfolio activity on October 12th.  Berry Global was previously known as Berry Plastics.

Per Yahoo Finance, Berry Global "manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, vinyl-coated and carton sealing, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films. The company also provides components for baby diapers and other absorbent hygiene products, feminine hygiene products, medical garment materials, substrates for dryer sheets, household cleaning wipes, filters, protective house wraps, and specialty agriculture and industrial products; components for adult incontinence, surgical drapes, face masks, corrosion protection, cable wrap, geosynthetics, and specialty filtration products; and a range of products for baby care, infection prevention, and food and household packaging. In addition, it offers containers; foodservice products, such as thermoformed polypropylene and injection-molded plastic drink cups and lids; closures and over caps comprising continuous-thread and child-resistant closures, as well as aerosol over caps; bottle and prescription containers; and extruded and laminate tubes"

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