First Eagle Global Equity ETF on Charter Communications, Inc. Class A
Thesis
Charter remains under competitive pressure as mobile operators expand entry-level fixed wireless service. Despite that pressure, First Eagle continues to view Charter as a high-quality business. The fund sees its network assets as difficult to replicate and capable of producing steady cash flow. Charter's capital-return profile, including cash returned to shareholders, is another part of the thesis.
“We continue to view Charter as a high-quality business with difficult-to-replicate assets that generate steady cash flows.”
Key risks
- Competitive pressure from mobile operators scaling entry-level fixed wireless service.