Value-focused investor First Eagle Investment Management significantly increased its holdings in energy services giant SLB, boosting its share count by 104% to 57.83 million. The purchase, estimated at $1.37 billion, raised the total value of First Eagle's position to $2.69 billion and increased its portfolio weight in the company to 4.43%.
This trade occurred during the second quarter of 2026 and was disclosed in a quarterly 13F filing on August 24, a common practice for institutional investors that results in a reporting delay. During that period, SLB reported a 5% year-over-year revenue increase to $8.97 billion, beating analyst expectations. The results were driven by strong international and offshore activity, which helped offset geopolitical disruptions in the Middle East.