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First Eagle

First Eagle Investment Management

Global value investor

$5.34B

Portfolio Value

60

Holdings

Q4 '25

Period

2026-02-11

Filed

📈

Simulated 13F Return

⚠️ Approximation

Total Return

+34.77%

Q1 '25 → Q4 '25

Annualized

+48.64%/yr

S&P: +26.24%/yr

Alpha (vs S&P)

+15.59%

3 quarters tracked

1-Year Return

—

⚠️ Approximation only. 13F filings are delayed ~45 days. Options, shorts, and intra-quarter trades not captured.

📈 Recent Activity

Changes from previous quarter

AERREDUCED
8.3% of portfolio
-1% shares+0.8pp
IAGREDUCED
6.1% of portfolio
-20% shares-0.3pp
EGOREDUCED
5.0% of portfolio
-7% shares+0.4pp
GNWREDUCED
4.0% of portfolio
-5% shares-0.4pp
JXN-PAREDUCED
3.9% of portfolio
-1% shares-0.1pp
CGAUINCREASED
3.8% of portfolio
+22% shares+1.3pp
MHOINCREASED
3.5% of portfolio
+6% shares-0.5pp
SPNTINCREASED
3.5% of portfolio
+14% shares+0.8pp
HOGINCREASED
3.4% of portfolio
+31% shares-0.4pp
PKINCREASED
2.9% of portfolio
+14% shares+0.0pp
EGINCREASED
2.8% of portfolio
+11% shares+0.0pp
CINCREASED
2.8% of portfolio
+5% shares+0.3pp
TXINCREASED
2.7% of portfolio
+2% shares+0.1pp
ALGTREDUCED
2.7% of portfolio
-4% shares+0.6pp
GMREDUCED
2.6% of portfolio
-4% shares+0.4pp
CRBDINCREASED
2.5% of portfolio
+27% shares+0.3pp
ALLYINCREASED
2.3% of portfolio
+6% shares+0.3pp
CIVIINCREASED
2.3% of portfolio
+4% shares-0.5pp
TPCREDUCED
2.3% of portfolio
-4% shares-0.2pp
MOSINCREASED
2.1% of portfolio
+25% shares-0.5pp
RDNINCREASED
2.0% of portfolio
+44% shares+0.5pp
NMRINCREASED
2.0% of portfolio
+2% shares+0.2pp
UNMREDUCED
1.9% of portfolio
-26% shares-0.9pp
EQXINCREASED
1.9% of portfolio
-65% shares-2.6pp
RLJ-PAINCREASED
1.8% of portfolio
+23% shares+0.3pp
TMHCREDUCED
1.8% of portfolio
-2% shares-0.4pp
WFGNEW
1.7% of portfolio
New position
GGBINCREASED
1.7% of portfolio
+49% shares+0.7pp
HHHREDUCED
1.5% of portfolio
-6% shares-0.3pp
GLNGREDUCED
1.5% of portfolio
-6% shares-0.4pp
HMCINCREASED
1.5% of portfolio
+29% shares+0.2pp
GSL-PBREDUCED
1.4% of portfolio
-34% shares-0.6pp
BZHREDUCED
1.1% of portfolio
-0% shares-0.3pp
GAUREDUCED
1.1% of portfolio
-5% shares+0.0pp
RYIREDUCED
0.9% of portfolio
+208% shares+0.6pp
HGREDUCED
0.8% of portfolio
+71% shares+0.4pp
KBHINCREASED
0.8% of portfolio
+388% shares+0.6pp
UVEREDUCED
0.7% of portfolio
-23% shares-0.1pp
CLDT-PAINCREASED
0.6% of portfolio
+2% shares-0.0pp
MHKINCREASED
0.6% of portfolio
+4% shares-0.1pp
TWIINCREASED
0.5% of portfolio
+59% shares+0.2pp
GSMREDUCED
0.5% of portfolio
-29% shares-0.2pp
ASTLWREDUCED
0.5% of portfolio
-1% shares+0.0pp
MTUSINCREASED
0.3% of portfolio
+50% shares+0.1pp
NMIHREDUCED
0.3% of portfolio
-18% shares-0.1pp
HOFTREDUCED
0.2% of portfolio
+7% shares+0.0pp
MPAAINCREASED
0.2% of portfolio
+22% shares-0.0pp
JRVRNEW
0.2% of portfolio
New position
CLCOINCREASED
0.1% of portfolio
-79% shares-0.5pp
VTOLREDUCED
0.1% of portfolio
-24% shares-0.0pp
AFLYYREDUCED
0.1% of portfolio
-0% shares-0.0pp
ASIXINCREASED
0.1% of portfolio
+9% shares
IWDREDUCED
0.1% of portfolio
-20% shares-0.0pp
WSBFNEW
<0.1% of portfolio
New position
HBMREDUCED
<0.1% of portfolio
-99% shares-1.7pp
GHLDSOLD
was 0.1%
Sold out position
Filing price: $19.94
JRVRSOLD
was <0.1%
Sold out position
Filing price: $5.55
MUSOLD
was <0.1%
Sold out position
Filing price: $167.32

Sold Out (3)

SOLDMUMICRON TECHwas 0.01%@$167.32
SOLDJRVRJAMES RIVER GROUP HOLDINGSwas 0.03%@$5.55
SOLDGHLDGUILD HOLDINGS CO- CLASS Awas 0.06%@$19.94

📊 Sector Breakdown

Portfolio allocation by sector

Unknown 95.2%Financials 2.8%Materials 2.1%

💼 Holdings

🔍

60 of 60 positions · $5.34B

This quarter: 3 new positions, increased 26, reduced 26, sold 3. Balanced activity.

AERREDUCED
8.3%
8.3% of portfolio (was 7.5%, trimmed)
Filed ~$144
—📄
IAGREDUCED
6.1%
6.1% of portfolio (was 6.4%, trimmed)
Filed ~$16
—📄
EGOREDUCED
5.0%
5.0% of portfolio (was 4.5%, trimmed)
Filed ~$36
—📄
GNWREDUCED
4.0%
4.0% of portfolio (was 4.4%, trimmed)
Filed ~$9
—📄
JXN-PAREDUCED
3.9%
3.9% of portfolio (was 4.0%, trimmed)
Filed ~$107
—📄
CGAUINCREASED
3.8%
3.8% of portfolio (was 2.5%, added)
Filed ~$14
—📄
MHOINCREASED
3.5%
3.5% of portfolio (was 4.0%, added)
Filed ~$128
—📄
SPNTINCREASED
3.5%
3.5% of portfolio (was 2.7%, added)
Filed ~$22
—📄
HOGINCREASED
3.4%
3.4% of portfolio (was 3.8%, added)
Filed ~$20
—📄
PKINCREASED
2.9%
2.9% of portfolio (was 2.8%, added)
Filed ~$10
—📄
EGINCREASED
2.8%
2.8% of portfolio (was 2.7%, added)
Filed ~$339
—📄
CINCREASED
2.8%
2.8% of portfolio (was 2.4%, added)
Filed ~$117
—📄
TXINCREASED
2.7%
2.7% of portfolio (was 2.6%, added)
Filed ~$38
—📄
ALGTREDUCED
2.7%
2.7% of portfolio (was 2.1%, trimmed)
Filed ~$85
—📄
GMREDUCED
2.6%
2.6% of portfolio (was 2.2%, trimmed)
Filed ~$81
—📄
CRBDINCREASED
2.5%
2.5% of portfolio (was 2.2%, added)
Filed ~$30
—📄
ALLYINCREASED
2.3%
2.3% of portfolio (was 2.0%, added)
Filed ~$45
—📄
CIVIINCREASED
2.3%
2.3% of portfolio (was 2.8%, added)
Filed ~$27
—📄
TPCREDUCED
2.3%
2.3% of portfolio (was 2.5%, trimmed)
Filed ~$67
—📄
MOSINCREASED
2.1%
2.1% of portfolio (was 2.6%, added)
Filed ~$24
—📄
RDNINCREASED
2.0%
2.0% of portfolio (was 1.5%, added)
Filed ~$36
—📄
NMRINCREASED
2.0%
2.0% of portfolio (was 1.8%, added)
Filed ~$8
—📄
UNMREDUCED
1.9%
1.9% of portfolio (was 2.8%, trimmed)
Filed ~$78
—📄
EQXINCREASED
1.9%
1.9% of portfolio (was 4.5%, added)
Filed ~$14
—📄
RLJ-PAINCREASED
1.8%
1.8% of portfolio (was 1.5%, added)
Filed ~$7
—📄
TMHCREDUCED
1.8%
1.8% of portfolio (was 2.2%, trimmed)
Filed ~$59
—📄
WFGNEW
1.7%
1.7% of portfolio (new position)
Filed ~$61
—📄
GGBINCREASED
1.7%
1.7% of portfolio (was 1.0%, added)
Filed ~$4
—📄
HHHREDUCED
1.5%
1.5% of portfolio (was 1.8%, trimmed)
Filed ~$80
—📄
GLNGREDUCED
1.5%
1.5% of portfolio (was 1.9%, trimmed)
Filed ~$37
—📄
HMCINCREASED
1.5%
1.5% of portfolio (was 1.3%, added)
Filed ~$29
—📄
GSL-PBREDUCED
1.4%
1.4% of portfolio (was 1.9%, trimmed)
Filed ~$35
—📄
BZHREDUCED
1.1%
1.1% of portfolio (was 1.5%, trimmed)
Filed ~$20
—📄
GAUREDUCED
1.1%
1.1% of portfolio (was 1.1%, trimmed)
Filed ~$3
—📄
RYIREDUCED
0.9%
0.9% of portfolio (was 0.3%, trimmed)
Filed ~$25
—📄
HGREDUCED
0.8%
0.8% of portfolio (was 0.4%, trimmed)
Filed ~$28
—📄
KBHINCREASED
0.8%
0.8% of portfolio (was 0.2%, added)
Filed ~$56
—📄
UVEREDUCED
0.7%
0.7% of portfolio (was 0.8%, trimmed)
Filed ~$34
—📄
CLDT-PAINCREASED
0.6%
0.6% of portfolio (was 0.6%, added)
Filed ~$7
—📄
MHKINCREASED
0.6%
0.6% of portfolio (was 0.7%, added)
Filed ~$109
—📄
TWIINCREASED
0.5%
0.5% of portfolio (was 0.3%, added)
Filed ~$8
—📄
GSMREDUCED
0.5%
0.5% of portfolio (was 0.7%, trimmed)
Filed ~$5
—📄
ASTLWREDUCED
0.5%
0.5% of portfolio (was 0.4%, trimmed)
Filed ~$4
—📄
MTUSINCREASED
0.3%
0.3% of portfolio (was 0.2%, added)
Filed ~$17
—📄
NMIHREDUCED
0.3%
0.3% of portfolio (was 0.4%, trimmed)
Filed ~$41
—📄
HOFTREDUCED
0.2%
0.2% of portfolio (was 0.2%, trimmed)
Filed ~$11
—📄
MPAAINCREASED
0.2%
0.2% of portfolio (was 0.3%, added)
Filed ~$12
—📄
JRVRNEW
0.2%
0.2% of portfolio (new position)
Filed ~$6
—📄
CLCOINCREASED
0.1%
0.1% of portfolio (was 0.7%, added)
Filed ~$10
—📄
VTOLREDUCED
0.1%
0.1% of portfolio (was 0.2%, trimmed)
Filed ~$37
—📄
DC
0.1%
0.1% of portfolio
Filed ~$6
—📄
AFLYYREDUCED
0.1%
0.1% of portfolio (was 0.1%, trimmed)
Filed ~$1
—📄
PPTA
0.1%
0.1% of portfolio
Filed ~$24
—📄
ASIXINCREASED
0.1%
0.1% of portfolio (was 0.1%, added)
Filed ~$17
—📄
IWDREDUCED
0.1%
0.1% of portfolio (was 0.1%, trimmed)
Filed ~$210
—📄
WSBFNEW
<0.1%
<0.1% of portfolio (new position)
Filed ~$17
—📄
HBMREDUCED
<0.1%
<0.1% of portfolio (was 1.7%, trimmed)
Filed ~$20
—📄
AZRE
<0.1%
<0.1% of portfolio
Filed ~$1
—📄
RFP-CVR
<0.1%
<0.1% of portfolio
Filed ~$1
—📄
GPRCHF
<0.1%
<0.1% of portfolio
Filed ~$0
—📄

🚫 Sold Out (3 positions)

SOLDMUMICRON TECHwas 0.01%@$167.322488 shares · $416K
SOLDJRVRJAMES RIVER GROUP HOLDINGSwas 0.03%@$5.55312435 shares · $1.7M
SOLDGHLDGUILD HOLDINGS CO- CLASS Awas 0.06%@$19.94158988 shares · $3.2M