Why This Investor Bet $7 Million More on a Packaging Company Lagging the S&P 500 by 6 Points

On February 17, 2026, EVR Research disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it bought an additional 170,000 shares of Sonoco Products Company (NYSE:SON) in the fourth quarter, an estimated $7.04 million trade based on quarterly average pricing.

What happened

According to an SEC filing dated February 17, 2026, EVR Research increased its holding in Sonoco Products Company by 170,000 shares during the fourth quarter of 2025. The estimated transaction value was approximately $7.04 million based on the period’s average share price. The fund’s stake totaled 220,000 shares worth $9.60 million at quarter-end, a $7.45 million increase from the prior filing, reflecting both added shares and stock price moves.

What else to know

• The post-trade stake equals 5.18% of 13F reportable AUM.
• Top holdings after the filing:
  • NYSE: DAN: $17.34 million (9.4% of AUM)
  • NYSE: WKC: $17.34 million (9.4% of AUM)
  • NYSE: CPS: $12.31 million (6.6% of AUM)
  • NYSE: GEF: $11.85 million (6.4% of AUM)
  • NYSE: MEC: $11.33 million (6.1% of AUM)
• As of Wednesday, SON shares were priced at $53.34, up 12.5% over the past year and therefore somewhat underperforming the S&P 500’s roughly 19% gain in the same period.

Company overview

Company snapshot

• EVR Research produces industrial and consumer packaging products, including rigid paper containers, flexible packaging, fiber-based tubes and cores, and protective packaging solutions.
• The firm operates through Consumer Packaging and Industrial Paper Packaging segments, generating revenue by manufacturing and selling packaging products and related services to a global client base.
• It serves a diverse set of customers in industries such as food, beverage, paper, textile, construction, chemical, and wire and cable markets worldwide.

Sonoco Products Company is a global leader in packaging solutions, with a broad product portfolio and operations spanning North and South America, Europe, Australia, and Asia. Sonoco Products Company operates in both consumer and industrial packaging, serving a wide array of end markets. Sonoco Products Company has a diversified customer base across various end markets.

What this transaction means for investors

As with EVR’s other transactions last quarter, this move reinforces a clear pattern. The portfolio is concentrated around industrial and materials names tied to physical supply chains, and this addition deepens that exposure rather than diversifying away from it.

Sonoco fits neatly alongside existing holdings like Greif and other packaging and materials plays, and its recent results show a similar trend: a business still navigating cost pressures and mixed demand across segments, but maintaining profitability and cash flow through pricing discipline and operational efficiency. Last quarter, the firm reported that it grew net sales 30% to $1.8 billion, thanks in large part to acquisition activity, which similarly helped turn a quarterly profit of $332.2 million (flipping a $43 million loss in the same period last year). The stock’s 12.5% gain over the past year, which trails the broader market, suggests expectations are still relatively grounded.

Meanwhile, the position size is a real signal. At just over 5% of assets, this sits alongside core holdings, and it signals a belief that cyclican businesses might be due for a turnaround.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.