Prominent value investor Bill Nygren's Oakmark Funds sold nearly its entire stake in Charter Communications during the second quarter of 2026, reducing its holding by 98%. The fund's position shrank from 3.99 million shares to just under 97,000, causing the reported value to fall from $861 million to about $14 million. An Oakmark Global Strategy commentary for the second quarter confirmed the move, stating it had "eliminated" its position in Charter Communications during the period.
This trade was disclosed in an SEC filing dated August 14, but the transactions occurred sometime between April 1 and June 30. In late July, after the trading period, Charter reported its second-quarter results which included a decline in revenue and a cut to its full-year EBITDA guidance. The company has faced ongoing losses in its core internet subscriber base while seeing growth in its mobile services.