Smurfit Kappa Group

SW • XNYS

Smurfit Kappa Group is a paperboard containers & boxes company on XNYS, led by David Sewell, with a market cap of $19.0B. As of Q3 2025, 86% of shares are held by 575 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.77%.

CEO of Smurfit WestRock plcDavid Sewell

Market Cap$19.0B

PAPERBOARD CONTAINERS & BOXES

Employees38.1K

Websitesmurfitwestrock.com

Overview

Overview of institutional ownership in SW as of Q3 2025 with a market cap of $22.2B

All Institutions

Institutions: 575
Value Held: $19.1B
Shares Held: 450.3M
Avg Position: $33.3M
Median Position: $758.2K

Hedge Funds

Hedge Funds: 31
Value Held: $516.6M
Shares Held: 12.1M
Avg Position: $16.7M
Median Position: $4.6M

Ownership Breakdown

Institutional (non-HF)

83.82%

$18.6B

Hedge Funds

2.32%

$516.6M

Retail & Other

13.85%

$3.1B

Based on market cap of $22.2B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in SW as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.6B 0.04% of portfolio	11.77% 61.5M shares	Q3 2024 Held for 1y 2m	$6.69T
B BlackRock, Inc. Institution	-	$1.9B 0.03% of portfolio	8.34% 43.5M shares	Q3 2024 Held for 1y 2m	$5.67T
Capital Research Global Investors RIA/Wealth	Sardar Sheraz Iftikhar CEO	$1.2B 0.22% of portfolio	5.27% 27.5M shares	Q3 2024 Held for 1y 2m	$532.36B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.0B 0.04% of portfolio	4.56% 23.8M shares	Q3 2024 Held for 1y 2m	$2.88T
N Nuveen, LLC Institution	-	$1.0B 0.27% of portfolio	4.51% 23.5M shares	Q1 2025 Held for 8 months	$377.89B
O Orbis Allan Gray Ltd RIA/Wealth	Don Lynn Ray Managing Partner	$806.7M 3.46% of portfolio	3.63% 18.9M shares	Q3 2024 Held for 1y 2m	$23.3B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$578.4M 0.04% of portfolio	2.61% 13.6M shares	Q3 2024 Held for 1y 2m	$1.57T
FMR LLC Institution	-	$518.2M 0.03% of portfolio	2.33% 12.2M shares	Q3 2024 Held for 1y 2m	$1.92T
FRANKLIN RESOURCES INC Institution	Gregory E. Johnson CEO	$482.9M 0.12% of portfolio	2.17% 11.4M shares	Q3 2024 Held for 1y 2m	$395.56B
UBS Group AG Institution	Sergio P. Ermotti CEO	$478.5M 0.09% of portfolio	2.15% 11.2M shares	Q3 2024 Held for 1y 2m	$511.54B

Net Capital Flow

Institutional buying and selling activity for SW in Q3 2025

Net Flow: +$675.8M
Buyers: 255
Sellers: 229
Total Bought: +$2.0B
Total Sold: −$1.4B
Avg Position: $33.4M

Biggest Buyers

Institution	Net Bought	Current Position
UBS Group AG Institution	+$349.9M +8.2M shares	$478.5M 11.2M shares
FRANKLIN RESOURCES INC Institution	+$234.5M +5.5M shares	$482.9M 11.4M shares
BARCLAYS PLC Institution	+$135.4M +3.2M shares	$224.3M 5.3M shares
STATE STREET CORP Institution	+$128.9M +3.0M shares	$1.0B 23.8M shares
HENDERSON GROUP PLC Institution	+$93.7M +2.2M shares	$124.2M 2.9M shares
B BlackRock, Inc. Institution	+$86.9M +2.0M shares	$1.9B 43.5M shares
P Pacer Advisors, Inc. Institution	+$77.6M +1.8M shares	$79.2M 1.9M shares
Marshall Wace LLP Institution	+$76.4M +1.8M shares	$207.9M 4.9M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$63.8M +1.5M shares	$123.6M 2.9M shares
D DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Institution	+$61.1M +1.4M shares	$77.9M 1.8M shares

Biggest Sellers

Institution	Net Sold	Current Position
VANGUARD GROUP INC Institution	−$806.5M −18.9M shares	$2.6B 61.5M shares
R Ruffer LLP Long Only Manager	−$160.0M −3.8M shares	$33.4M 785.6K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$46.5M −1.1M shares	$39.8M 934.0K shares
R Retirement Systems of Alabama Institution	−$26.3M −616.8K shares	$4.7M 111.4K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	−$26.0M −610.4K shares	$13.5M 316.9K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$24.5M −568.6K shares	Sold Off 0 shares
Z Zurich Insurance Group Ltd/FI Institution	−$24.4M −581.1K shares	$32.8M 780.2K shares
R RIT CAPITAL PARTNERS PLC Institution	−$19.8M −460.0K shares	Sold Off 0 shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	−$16.7M −386.5K shares	Sold Off 0 shares
Incentive AS Hedge Fund•Long/Short	−$12.8M −300.0K shares	$86.1M 2.0M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SW in Q3 2025

New Positions: 54
New Value: $160.3M
Exited Positions: 55
Exited Value: $122.9M

New Positions

Institution	Position Value
C CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM Institution	$36.5M 856.8K shares
C Capital International Investors Institution	$16.5M 388.5K shares
I Investec Asset Management LTD Long Only Manager	$15.8M 376.7K shares
Distillate Capital Partners LLC ETF Provider	$15.0M 352.4K shares
Gotham Asset Management, LLC Hedge Fund•Long/Short	$13.4M 314.1K shares
Marathon Asset Mgmt Ltd Long Only Manager	$10.4M 243.4K shares
G GAM Holding AG Institution	$10.0M 238.5K shares
T TIAA TRUST, NATIONAL ASSOCIATION Institution	$9.0M 211.0K shares
WORLDQUANT MILLENNIUM QUANTITATIVE STRATEGIES LLC Hedge Fund•Multi-Strategy	$8.8M 205.6K shares
I Investec Asset Management Ltd Institution	$6.1M 145.9K shares

Exited Positions

Institution	Previous Position
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$24.5M 568.6K shares
R RIT CAPITAL PARTNERS PLC Institution	$19.8M 460.0K shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	$16.7M 386.5K shares
Q Qube Research & Technologies Ltd Institution	$10.0M 231.6K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$9.2M 212.9K shares
D De Lisle Partners LLP Institution	$5.9M 137.0K shares
F Fisher Funds Management LTD Institution	$4.1M 94.0K shares
R ROBECOSAM AG Institution	$3.6M 82.3K shares
NISSAY ASSET MANAGEMENT CORP /JAPAN/ /ADV Insurance Manager	$2.8M 65.5K shares
BIP Wealth, LLC RIA/Wealth	$2.7M 62.6K shares

Options Activity

Institutions with the largest Call and Put options positions in SW as of Q3 2025

Call Positions: 8
Call Value: $31.1M
Put Positions: 6
Put Value: $4.1M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$10.7M 2.5K contracts
CITIGROUP INC Institution	$6.4M 1.5K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$5.6M 1.3K contracts
W WOLVERINE TRADING, LLC Institution	$3.8M 891.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$1.8M 431.0 contracts
Walleye Trading LLC RIA/Wealth	$1.3M 298.0 contracts
J JANE STREET GROUP, LLC Institution	$906.7K 213.0 contracts
BANK OF MONTREAL /CAN/ Institution	$642.8K 151.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.0M 467.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$1.1M 264.0 contracts
W WOLVERINE TRADING, LLC Institution	$485.4K 115.0 contracts
Walleye Trading LLC RIA/Wealth	$464.0K 109.0 contracts
J JANE STREET GROUP, LLC Institution	- - contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts

Most Committed Institutions

Institutions with SW as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Incentive AS Hedge Fund•Long/Short	Peter Ulrik Hammerich Chairman	100.00% $86.1M	0.39% 2.0M shares	Q3 2024 Held for 1y 2m	$86.1M
S SOROS FUND MANAGEMENT LLC Institution	-	7.63% $329.8M	1.48% 7.7M shares	Q3 2024 Held for 1y 2m	$4.3B
E Exane Asset Management Institution	-	5.82% $17.3M	0.07% 345.4K shares	Q4 2024 Held for 11 months	$296.7M
Polaris Capital Management, Inc. Long Only Manager	Sumanta Biswas President	4.86% $74.2M	0.33% 1.7M shares	Q4 2024 Held for 11 months	$1.5B
A Albar Capital Partners LLP Institution	-	4.61% $20.2M	0.09% 475.5K shares	Q1 2025 Held for 8 months	$438.9M
LANSDOWNE PARTNERS LLP Hedge Fund•Long/Short	Richard Brian Heyworth CEO	4.55% $54.7M	0.25% 1.3M shares	Q3 2024 Held for 1y 2m	$1.2B
CAUSEWAY CAPITAL MANAGEMENT LLC Long Only Manager	Sarah Hotchkis Ketterer CEO	4.23% $320.3M	1.44% 7.5M shares	Q3 2024 Held for 1y 2m	$7.6B
Access Investment Management LLC RIA/Wealth	William Robert Casey CCO	3.79% $14.1M	0.06% 331.3K shares	Q2 2025 Held for 5 months	$372.1M
Holowesko Partners Ltd. Hedge Fund•Long/Short	Mark Gordon Holowesko CEO	3.74% $10.1M	0.05% 237.5K shares	Q3 2025 Held for 2 months	$270.3M
LAKEWOOD CAPITAL MANAGEMENT, LP Hedge Fund•Long/Short	Anthony Theodore Bozza Managing Partner	3.74% $49.4M	0.22% 1.2M shares	Q3 2024 Held for 1y 2m	$1.3B

Hedge Fund Spotlight

Discover hedge funds investing in SW

LAKEWOOD CAPITAL MANAGEMENT, LP

Hedge Fund • Long/Short

Portfolio ManagerAnthony Theodore Bozza

Portfolio Value: $1.3B
Positions: 50
Last Reported: Q3 2025

Sector Allocation

Position in Smurfit Kappa Group

Market Value: $49.4M
Shares Held: 1.2M
Portfolio Weight: 3.74%
Owned Since: 2024-Q3

Top Holding	Sector	Market Value	Weight
1 Elevance Health ELV	Medical - Healthcare Plans Healthcare	$97.5M	7.38%
2 Cigna CI	Medical - Healthcare Plans Healthcare	$97.2M	7.36%
3 Arrow Electronics ARW	Technology Distributors Technology	$69.9M	5.29%