The Magnum Ice Cream Company N.V. (MICC) Climbed Due to Market Recognition

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Longleaf Partners, managed by Southeastern Asset Management , released its second-quarter 2026 investor letter for its "Partners Fund". A copy of the letter can be downloaded here . The letter states that the portfolio holdings are attractive now based on both P/V and P/FCF metrics. However, the Fund returned 3.87% in the quarter, significantly lagging the S&P 500's 15.20% return and the Russell 1000 Value Index's 13.87% gain. An underweight in Information Technology (IT) primarily contributed to the underperformance. The market's preference for overvalued stocks in Industrials and other sectors led to inflated multiples, overshadowing real earnings power. The Firm's investment approach focuses on median, unweighted multiples, prioritizing growth in free cash flow per share, the potential for multiple expansion, and strategic initiatives. In addition, please check the Fund's top five holdings to know its best picks in 2026.

In its Q2 2026 investor letter, Longleaf Partners Fund highlighted The Magnum Ice Cream Company N.V. (NYSE: MICC ). The Magnum Ice Cream Company N.V. (NYSE:MICC) is a Netherlands-based ice cream company that offers products under the Magnum, Ben & Jerry's, Cornetto, and Wall's brands. On July 10, 2026, The Magnum Ice Cream Company N.V. (NYSE:MICC) closed at $18.53 per share, reflecting a market capitalization of $11.41 billion. The Magnum Ice Cream Company N.V. (NYSE:MICC) posted a one-month return of 3.98%, and YTD its shares gained 16.91%.

Longleaf Partners Fund stated the following regarding The Magnum Ice Cream Company N.V. (NYSE:MICC) in its Q2 2026 investor update:

"The Magnum Ice Cream Company N.V. (NYSE:MICC) – Global ice cream company Magnum was a contributor in the quarter. The company had struggled to find its footing as a public company after its spinout from Unilever late last year and an overlong, confusing first quarterly call as a public company in February that also included annual guidance that was not taken well by the market. Magnum reported better results in May, and the market began to wake up to the fact that this unique company can achieve its goals of strong 3-5% revenue growth and improving margins along the way to over €1.50 per share of FCF power in two years. There was also reporting in the quarter that private equity could be interested in acquiring Magnum, which makes sense as Froneri, the #2 player in the industry, has already been a successful PE investment."

The Magnum Ice Cream Company N.V. (NYSE:MICC) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026 . According to our database, 22 hedge fund portfolios held The Magnum Ice Cream Company N.V. (NYSE:MICC) at the end of the first quarter, compared to 25 in the previous quarter. While we acknowledge the potential of The Magnum Ice Cream Company N.V. (NYSE:MICC) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock .

In another article , we covered The Magnum Ice Cream Company N.V. (NYSE:MICC) and shared a bullish thesis on the company. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey .

Sinergia Empresarial continuará el seguimiento de esta información sobre the Magnum Ice Cream Company N.V. (MICC) Climbed Due to Market Recognition y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.