Welcome to Broyhill's Equity Highlights, where we share a few quick takes on recent news across the portfolio every month.
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Honeywell Spins Out Advanced Materials Segment. Honeywell took the first step in restructuring its business with the spin-off of its advanced materials, which will now trade under the name Solstice Advanced Materials. Honeywell plans to do the same with the aerospace business in 2026, refocusing the company on automation. Each standalone company will have increased flexibility to allocate capital, and competitors for each trade at a valuation premium to the current conglomerate.
LVMH Increasing China Presence. The luxury giant plans to open multistory outposts for Louis Vuitton, Dior, Tiffany, and Loro Piana in Beijing this December. It is also in talks for a new Dior flagship in Shanghai by around 2027, signaling a renewed push into China. The expansion comes as signs emerge that China’s luxury slowdown is bottoming, with LVMH and other high-end brands seeing sales improve and experimenting with large experiential flagships that boost traffic and retail sales at key malls.
Ball: The King of Cans. While not a current event, we will leave you with the brief (or not so brief) history of a packaging giant. Ball went from a 1800s mason-jar family business to a global aluminum juggernaut by realizing one simple truth: jars are cute, but aluminum cans print money. It flirted with space for a few decades, making satellite instruments for NASA, then finally dumped the rocket science, sold the space unit, and went all-in on its true destiny: cranking out over 100 billion shiny soda tubes a year.
Any statements above reflect the views of Broyhill Asset Management, LLC as of the posting date and are subject to change. The information provided above is for informational purposes only and reflects publicly available news regarding certain companies that represent a subset of our total exposure to all of our portfolio companies at the time of posting. This information is not investment advice or a recommendation to buy or sell any security. Holdings and views expressed may not be current and are subject to change without notice. Please review our full disclosures for additional important information and disclosures.