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Amcor CDI ASX:AMC

2 opened or increased11 held2 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 21 managers in total.

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18 more managers have commented on AMCPro shows the full position history for all 21 managers.

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20252026

15 Sep 2025 to today

Commentary Showing 2 of 38

DateManagerActionSummary

28 Sep 2026Allan GrayHeldAllan Gray continues to hold Amcor because Simon Mawhinney views the packaging company as a durable business that touches people's lives daily and is unlikely to go out of business within the next decade. He believes Amcor should be able to earn a reasonable return on its operating footprint and invested capital. Mawhinney also notes acquisitions have helped Amcor assemble some of the best packaging assets globally, with its technological capabilities and research and development further supporting the long-term thesis.

Article, price recorded $60.61

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21 Aug 2026First SamuelHeldFirst Samuel continues to hold Amcor because the FY26 result offers the first tangible evidence that its multi-year volume weakness may be stabilising, with group volumes turning positive for the first time in two years, up 0.5% in the June quarter, a 200bp sequential improvement, and management noting July trends held up alongside a broader customer pivot toward volume over price. The manager notes synergy delivery has consistently outpaced targets, with FY26 synergies of $285 million landing 10% ahead of the original goal and a further $650 million long-term target reaffirmed through FY28, though the improvement should be kept in context given an easy prior-year comparison and free cash flow missing guidance by roughly $200 million on higher receivables and inventory, leaving leverage elevated at around 3.5x. First Samuel notes valuation remains undemanding on a forward earnings and yield basis, but the case now rests more on execution, sustained volume delivery and working capital recovery, than on multiple expansion alone.

Article, price recorded $66.81

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36 more comments on AMCPro shows every comment, with a link to each source document.

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First mention by manager

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Price at first mentionThe share price recorded when each of 21 managers first commented on AMC.

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Articles

28 Sep 2026Amcor Fell 17% on Resin Fears Its Own Contracts Were Built to Absorb
24 Jul 2026Amcor Fights Resin Cost Fears While Defending Its Berry Deal

About Amcor CDI

Materials, Containers and Packaging

Amcor (ASX:AMC), the world's largest consumer packaging company, is seen by value managers as a defensive business nearing a volume recovery. In September 2026, Allan Gray chose Amcor as a pick, describing it as a business that touches everyone in the world. First Samuel said the FY26 result offered the first tangible evidence that multi-year volume weakness may be stabilising, with group volumes turning positive for the first time in two years. Pendal noted volume growth was overshadowed by weaker first-half FY27 earnings guidance, while Atlas and Blackwattle also hold it. Amcor operates in the Materials sector within the Containers and Packaging industry, and Thesis Tracker has captured 36 comments from 21 fund managers, including Allan Gray, First Samuel, Pendal, Atlas and Blackwattle. Founded in 1926 and headquartered in Zurich, Amcor produces flexible and rigid packaging for food, beverage, healthcare and consumer products, and acquired Berry Global in 2025.

Market cap: $70.9b
Price to earnings: Loss-making
Return on equity: 0.0%
Dividend yield: 0.0%
Price to book: 0.00x
Net margin: 0.0%
52-week range: $51.20 to $71.10

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Amcor CDI (ASX:AMC)?

Fund managers including Equity Trustees Asset Management, Atlas Funds Management, Clime Investment Management, BKI Investment Company, Tyndall Asset Management, Allan Gray, Wilson Asset Management, Maple-Brown Abbott, Pendal Group, Pengana Capital Group, Paradice Investment Management, Investors Mutual Limited, Ellerston Capital, Alliance Bernstein, Ten Cap, Mint Asset Management, Plato Investment Management, Quest Asset Partners, Blackwattle Investment Partners, Vertium Asset Management and First Samuel have invested in Amcor CDI (ASX:AMC).

What opportunities or catalysts do fund managers highlight for Amcor CDI?

Managers highlight a return to volume growth after two years, synergies from the Berry Global acquisition, defensive end markets and an inexpensive valuation, according to First Samuel, Allan Gray and Atlas.

What are the key risks to the Amcor CDI investment thesis, according to fund managers?

Pendal notes first-half FY27 earnings guidance came in about 3% below consensus, overshadowing the improvement in volumes.

What does Amcor CDI (ASX:AMC) do?

Amcor Plc, founded in 1926 and headquartered in Zurich, Switzerland, is a global leader in consumer packaging. The company operates through two primary segments: Flexibles and Rigid Packaging. The Flexibles segment develops and supplies global flexible packaging solutions, while the Rigid Packaging segment manufactures rigid plastic containers and related products. Amcor Plc functions as a holding company, providing essential packaging materials for diverse consumer goods markets worldwide.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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