Value-focused investor First Eagle Investment Management significantly reduced its position in Comcast (CMCSA) during the third quarter of 2026, according to a recent SEC filing. The firm sold over 36 million shares, cutting its stake by 48% to 39.56 million shares. The sale is estimated to be valued at approximately $800 million.
This disclosure comes from a 13F filing, which is a required quarterly report for large investment managers and is filed with a delay, meaning the trades occurred between July and September. During the third quarter, Comcast reported a loss of 144,000 broadband subscribers amid intense competition, though its earnings per share beat analyst estimates. First Eagle has not publicly commented on its reason for the large divestment.