A Quiet Trim From LEVIN — O-I Glass Faces Bigger Questions
Key Points
Sold 670,374 O-I Glass shares; estimated trade size $9.23 million (based on quarterly average price)
Quarter-end position value fell by $14.39 million, reflecting both share sale and stock price move
Transaction represented 0.7% of 13F reportable AUM
Post-trade: 1,058,776 shares, valued at $11.13 million
OI stake now 0.84% of AUM, placing it outside the fund's top five holdings
- 10 stocks we like better than O-I Glass ›
On May 13, 2026, LEVIN Capital Strategies, L.P. disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold 670,374 shares of O-I Glass (NYSE:OI) in the first quarter, an estimated $9.23 million trade based on quarterly average pricing.
- Sold 670,374 O-I Glass shares; estimated trade size $9.23 million (based on quarterly average price)
- Quarter-end position value fell by $14.39 million, reflecting both share sale and stock price move
- Transaction represented 0.7% of 13F reportable AUM
- Post-trade: 1,058,776 shares, valued at $11.13 million
- OI stake now 0.84% of AUM, placing it outside the fund's top five holdings
What happened
According to an SEC filing dated May 13, 2026, LEVIN Capital Strategies, L.P. sold 670,374 shares of O-I Glass during the first quarter. The estimated transaction value was $9.23 million, calculated from the average closing price in the quarter. At quarter-end, the fund held 1,058,776 shares valued at $11.13 million. The net position value declined by $14.39 million, reflecting both trading activity and share price movement.
What else to know
- LEVIN Capital Strategies, L.P. trimmed its O-I Glass stake, which now represents 0.84% of 13F reportable AUM
- Top five holdings after the filing:
- NASDAQ:GOOGL: $81.46 million (6.2% of AUM)
- NYSE:JPM: $52.16 million (4.0% of AUM)
- NYSE:JNJ: $50.66 million (3.9% of AUM)
- NASDAQ:MSFT: $50.11 million (3.8% of AUM)
- NYSE:BK: $49.30 million (3.8% of AUM)
- As of May 21, 2026, O-I Glass shares were priced at $9.01, down 33.5% over the past year, underperforming the S&P 500 by about 69 percentage points
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $6.39 billion |
| Net income (TTM) | ($161 million) |
| Price (as of market close May 21, 2026) | $9.01 |
| One-year price change | (33.46%) |
Company snapshot
- O-I produces glass containers for alcoholic beverages, food, soft drinks, juices, tea, and pharmaceuticals, offering a wide range of sizes, shapes, and colors.
- the company generates revenue primarily through direct sales to manufacturers under annual or multi-year supply agreements, as well as through distributors.
- It serves food and beverage manufacturers in the Americas, Europe, and Asia Pacific as its core customer base.
O-I Glass, Inc. manufactures and sells glass containers to food and beverage manufacturers in the Americas, Europe, and Asia Pacific, offering a diverse product portfolio through direct sales agreements and distributors.
What this transaction means for investors
LEVIN trimmed here, and honestly, it's not hard to see why someone would. O-I Glass is fighting a structural headwind that isn't going away: glass is heavier and more expensive to ship than aluminum or plastic, and big beverage customers know it. The company has been working through that reality while carrying a heavy debt load, which doesn't leave much room for error. The stock has been punished accordingly. I'd want to see meaningful progress on the restructuring — real debt reduction, evidence that key customer relationships are holding, and some sign that volume declines are stabilizing — before getting interested here. That work may be happening, but the burden of proof is high when the secular trend is working against you. The motivation behind LEVIN's trim is unknown, as 13F filings don't disclose reasoning, and a small position cut doesn't tell us much on its own. For now, I'd pass and watch from the sidelines.
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JPMorgan Chase is an advertising partner of Motley Fool Money. Seena Hassouna has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, JPMorgan Chase, and Microsoft. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.
