Fundsmith 13F: Cuts Sabre (SABR) Stake by $21M

Major Shift in Sabre Portfolio

Fundsmith slashed its position in Sabre Corporation (NASDAQ: SABR) by 58.1% during the latest reporting period, according to the investment firm's most recent Form 13F filing with the Securities and Exchange Commission. The fund sold 12,485,312 shares of the travel technology company, leaving it with 9,013,783 shares.

This massive reduction represents a significant shift for Fundsmith, which has been actively restructuring its portfolio over the past several quarters. The remaining shares of Sabre held by the fund had a market value of $15,323,432 at the end of the quarter. Investors should note that 13F filings are backward-looking documents that show a fund's holdings at the end of a specific quarter, meaning they may not represent the firm's current portfolio today.

Fundsmith's Broad Portfolio Retooling

This move to trim Sabre is part of a broader pattern of exits and reductions for Fundsmith. The firm has been highly active in cleaning up its equity positions. In other recent transactions, the fund completely exited its positions in Graco Inc., Choice Hotels International, and Exponent, Inc.

Additionally, Fundsmith recently trimmed its stakes in several other holdings. The fund cut its position in Doximity by 58% and reduced its holdings in Napco Security Technologies by 78.4%. This series of sales suggests a concerted effort by the fund's management to reduce exposure across several technology and consumer-facing sectors.

Sabre Stock Performance

On Saturday, Sabre shares were priced at $1.70. The stock has been trading in a 52-week range of $0.81 to $2.50. This places the current stock price in the middle of its annual range, though it sits above its 200-day moving average of $1.68.

With a market capitalization of $940.35 million, Sabre has faced a volatile trading environment. The company's beta of 1.01 suggests its stock price volatility is roughly in line with the broader market. Despite the stock's fluctuations, the company has managed to maintain a current ratio of 1.03 and a quick ratio of 0.92, indicating a stable short-term liquidity position.

Revenue Growth Against Net Losses

In its latest financial disclosures, Sabre reported annual revenue of $2.85 billion. This represents a modest revenue growth rate of 3.6% compared to the prior period. The company also reported a healthy net margin of 25.1%.

However, Sabre remains unprofitable. The company posted an earnings per share of -$0.19, meaning it does not have a meaningful trailing price-to-earnings ratio. Looking forward, the company's forward P/E ratio stands at 12.0. Sabre is scheduled to release its next quarterly earnings results on November 4, 2026.

Travel Technology Solutions

Sabre Corporation operates as a critical software and technology provider for the global travel industry. The Southlake, Texas-based company provides the Sabre Mosaic marketplace, which connects travel buyers and suppliers worldwide. It also offers software products to help airlines, hotels, car rental brands, and cruise lines manage reservation systems, operations, and data analytics.

Future Trends to Watch

Market observers tracking Sabre will want to watch the upcoming November earnings release to see if the company can turn its positive revenue growth into consistent profitability. Investors will also be watching future regulatory filings to see if Fundsmith continues to liquidate its remaining 9 million shares or decides to hold onto its reduced position. It is important to remember that institutional moves, while informative, are not direct recommendations to buy or sell a stock.