Value-oriented investor First Eagle Investment Management substantially increased its stake in Imperial Oil Ltd. (IMO), buying 13.21 million shares to nearly double its holding. According to its latest SEC disclosure, the firm's position grew by 95% to a total of 27.18 million shares. The holding, valued at $3.05 billion as of the reporting date, now constitutes 5.02% of First Eagle's disclosed portfolio, up from 3.10%.
As a quarterly 13F filing, this update reflects trades made between April and June 2026, with the report filed publicly on August 24. During the second quarter, Imperial Oil reported a significant increase in net income to C$2.19 billion, a substantial rise from the C$949 million reported in the same period a year earlier, citing stronger commodity prices and refining margins. The company also generated strong free cash flow during the period.