Value-focused investor First Eagle Investment Management disclosed a significant new position in Booking Holdings (BKNG), the online travel giant. According to its quarterly report, the firm purchased 4.92 million shares valued at approximately $876.32 million as of June 30, 2026. This new holding now accounts for 1.46% of First Eagle's reported portfolio. It is important to remember that 13F filings are released with a delay and reflect positions held at the end of the previous quarter, not necessarily current-day holdings.
This investment marks a notable re-entry for the asset manager, which had previously exited its position in Booking Holdings back in early 2022. The move aligns with First Eagle's reputation for identifying potentially undervalued companies. Recent analyses of Booking highlight its strong market position, recovering profit margins since 2020, and a strategy of returning capital to shareholders through significant stock buyback programs.