First Eagle Investment Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), First Eagle Investment Management, LLC reported 400 stock positions worth $54.9 billion. Its top holding was Oracle (ORCL) at 4.5% of the portfolio, followed by Meta Platforms Class A (META, 4.5%) and Wheaton Precious Metals (WPM, 3.5%). Compared with Q2 2025, it opened 39 new positions, sold out of 28, added to 187 and reduced 167. The biggest buy was a new position in Workday Class A (WDAY) and the biggest sale Philip Morris International (PM, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001325447
- Portfolio Value
- $54.9B (Q3 2025)
- SEC Filing
- 0001325447-25-000039 ↗ filed Nov 12, 2025
Holdings Value
Holdings 400 stocks · $54.9B
| ORCL Oracle Corp. | 4.53% | 8,839,413 | $2.5B | Reduce -20.7% |
| META Meta Platforms Inc. Class A | 4.46% | 3,331,952 | $2.4B | Reduce -0.0% |
| WPM Wheaton Precious Metals Corp. | 3.50% | 17,158,963 | $1.9B | Reduce -5.2% |
| TSM Taiwan Semiconductor-SP ADR | 3.41% | 6,700,008 | $1.9B | Add +0.1% |
| BDX Becton Dickinson and Co. | 3.41% | 9,994,408 | $1.9B | Add +13.8% |
| GOOG Alphabet Inc. Class C | 3.34% | 7,526,885 | $1.8B | Add +0.2% |
| IMO Imperial Oil Ltd. | 3.33% | 20,143,872 | $1.8B | Reduce -1.7% |
| HCA HCA Healthcare Inc. | 3.04% | 3,919,472 | $1.7B | Reduce -6.9% |
| WTW Willis Towers Watson PLC | 2.69% | 4,265,114 | $1.5B | Reduce -0.7% |
| CHRW C.H. Robinson Worldwide Inc. | 2.55% | 10,564,999 | $1.4B | Reduce -0.2% |
| NEM Newmont Corp. | 2.40% | 15,633,877 | $1.3B | Reduce -8.7% |
| ELV Elevance Health Inc. | 2.35% | 3,998,603 | $1.3B | Add +24.9% |
| B Barrick Mining Corp. | 2.31% | 38,661,303 | $1.3B | Reduce -2.1% |
| FMX Fomento Economico Mex-SP ADR | 2.25% | 12,508,526 | $1.2B | Reduce -0.0% |
| CMCSA Comcast Corp. Class A | 2.06% | 35,926,674 | $1.1B | Add +0.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 2.05% | 10,304,933 | $1.1B | Reduce -17.9% |
| PM Philip Morris International | 1.81% | 6,121,345 | $992.9M | Reduce -14.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.73% | 27,543,894 | $946.7M | Add +0.1% |
| UHS Universal Health Services-B | 1.72% | 4,621,171 | $944.8M | Add +0.0% |
| MDT Medtronic PLC | 1.69% | 9,735,038 | $927.2M | Add +0.0% |
| FNV Franco-Nevada Corp. | 1.64% | 4,049,187 | $901.1M | Add +26.4% |
| GLD SPDR Gold Shares | 1.64% | 2,531,196 | $899.8M | Add +2.7% |
| AEM Agnico Eagle Mines Ltd. | 1.61% | 5,258,551 | $885.5M | Reduce -0.2% |
| XOM Exxon Mobil Corp. | 1.60% | 7,794,377 | $878.8M | Add +0.0% |
| CRM Salesforce Inc. | 1.59% | 3,690,824 | $874.7M | Add +14.8% |
| GOOGL Alphabet Inc. Class A | 1.45% | 3,268,864 | $794.7M | Reduce -0.4% |
| NTR Nutrien Ltd. | 1.42% | 13,237,215 | $777.2M | Reduce -0.2% |
| EXPD Expeditors Intl Wash Inc. | 1.40% | 6,280,242 | $769.9M | Add +0.0% |
| ABEV Ambev SA-ADR | 1.38% | 338,598,724 | $755.1M | Reduce -0.0% |
| BIO Bio-Rad Laboratories-A | 1.29% | 2,520,319 | $706.7M | Add +0.1% |
| TXN Texas Instruments Inc. | 1.22% | 3,630,721 | $667.1M | Reduce -6.2% |
| PPG PPG Industries Inc. | 1.20% | 6,263,829 | $658.4M | Add +12.7% |
| CL Colgate-Palmolive Co. | 1.15% | 7,889,103 | $630.7M | Add +0.2% |
| DG Dollar General Corp. | 1.13% | 5,977,005 | $617.7M | Add +0.0% |
| CMI Cummins Inc. | 1.10% | 1,423,501 | $601.2M | Reduce -6.5% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 1.09% | 9,197,886 | $595.4M | Add +0.0% |
| AXP American Express Co. | 1.04% | 1,722,929 | $572.3M | Reduce -10.8% |
| OKE Oneok Inc. | 1.03% | 7,769,215 | $566.9M | Add +24.2% |
| WDAY Workday Inc. Class A | 1.01% | 2,310,688 | $556.3M | New |
| OMC Omnicom Group | 0.94% | 6,318,477 | $515.1M | New |
| ADI Analog Devices Inc. | 0.91% | 2,030,651 | $498.9M | Reduce -9.5% |
| NOV Nov Inc. | 0.91% | 37,609,002 | $498.3M | Add +0.1% |
| RGLD Royal Gold Inc. | 0.82% | 2,247,875 | $450.9M | Reduce -32.8% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.78% | 569 | $429.1M | Reduce -12.3% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.78% | 6,927,070 | $426.3M | Add +27.3% |
| USB US Bancorp | 0.77% | 8,773,278 | $424.0M | Add +0.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.72% | 3,426,467 | $392.3M | Add +0.1% |
| CHTR Charter Communications Inc. Class A | 0.68% | 1,352,359 | $372.0M | Add +79.3% |
| FNF Fidelity National Financial | 0.67% | 6,047,767 | $365.8M | Add +0.1% |
| IPGP Ipg Photonics Corp. | 0.65% | 4,474,759 | $354.4M | Add +0.2% |
| WY Weyerhaeuser Co. | 0.64% | 14,135,500 | $350.4M | Reduce -0.1% |
| NE Noble Corp. PLC | 0.63% | 12,166,208 | $344.1M | Add +0.0% |
| MSFT Microsoft Corp. | 0.52% | 545,853 | $282.7M | Add +0.2% |
| BXP BXP Inc. | 0.48% | 3,532,527 | $262.6M | Reduce -0.2% |
| KGC Kinross Gold Corp. | 0.46% | 10,115,560 | $251.4M | Reduce -14.5% |
| DE Deere & Co. | 0.43% | 511,840 | $234.0M | Reduce -0.1% |
| EXR Extra Space Storage Inc. | 0.41% | 1,577,249 | $222.3M | Reduce -0.4% |
| ROST Ross Stores Inc. | 0.40% | 1,430,376 | $218.0M | Reduce -0.4% |
| AGI Alamos Gold Inc. Class A | 0.40% | 6,248,315 | $217.7M | Add +0.1% |
| DEI Douglas Emmett Inc. | 0.37% | 13,005,470 | $202.5M | Reduce -0.2% |
| CCU Cia Cervecerias Uni-Spon ADR filed as COMPANIA CERVECERIAS UNIDAS | 0.35% | 15,898,984 | $192.7M | Add +0.1% |
| XRAY Dentsply Sirona Inc. | 0.33% | 14,181,811 | $180.0M | Reduce -0.1% |
| PAAS Pan American Silver Corp. | 0.32% | 4,594,534 | $178.0M | New |
| CSL Carlisle Cos Inc. | 0.32% | 536,752 | $176.6M | Reduce -0.1% |
| GFI Gold Fields Ltd.-Spons ADR | 0.27% | 3,586,921 | $150.5M | Add +0.1% |
| AU Anglogold Ashanti PLC | 0.26% | 2,056,440 | $144.6M | Add +0.1% |
| FERG Ferguson Enterprises Inc. | 0.25% | 599,229 | $134.6M | Reduce -0.1% |
| NG Novagold Resources Inc. | 0.19% | 11,811,841 | $103.9M | Add +0.1% |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.13% | 6,719,636 | $72.5M | Reduce -1.9% |
| BTI British American Tob-SP ADR | 0.12% | 1,284,550 | $68.2M | Add +14.2% |
| BTG B2GOLD Corp. | 0.12% | 12,870,583 | $63.6M | Add +0.1% |
| EPD Enterprise Products Partners | 0.11% | 1,849,600 | $57.8M | Reduce -0.1% |
| SHEL Shell PLC-ADR | 0.09% | 668,344 | $47.8M | Add +9.8% |
| UL Unilever PLC | 0.08% | 701,486 | $41.6M | Add +10.4% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.07% | 400,716 | $36.8M | Reduce -8.3% |
| CDE Coeur Mining Inc. | 0.06% | 1,655,216 | $31.1M | Reduce -17.0% |
| KOF Coca-Cola Femsa Sab-SP ADR | 0.06% | 371,596 | $30.9M | No change |
| LYG Lloyds Banking Group PLC-ADR | 0.05% | 6,328,253 | $28.7M | Reduce -7.2% |
| CAE Cae Inc. | 0.05% | 937,279 | $27.7M | Reduce -0.4% |
| HLN Haleon PLC-ADR | 0.05% | 3,056,951 | $27.4M | Add +9.8% |
| TEL Te Connectivity PLC | 0.05% | 118,916 | $26.1M | Reduce -4.5% |
| AMRC Ameresco Inc. Class A | 0.04% | 720,372 | $24.2M | Reduce -4.4% |
| CECO Ceco Environmental Corp. | 0.04% | 434,256 | $22.2M | Reduce -27.8% |
| HL Hecla Mining Co. | 0.04% | 1,750,788 | $21.2M | Reduce -8.2% |
| TTMI TTM Technologies | 0.04% | 360,253 | $20.8M | Reduce -34.0% |
| HD Home Depot Inc. | 0.04% | 48,945 | $19.8M | Reduce -2.0% |
| AEIS Advanced Energy Industries | 0.04% | 116,173 | $19.8M | Reduce -3.1% |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.03% | 2,491,313 | $18.3M | Add +9.9% |
| LINC Lincoln Educational Services | 0.03% | 774,630 | $18.2M | Reduce -1.9% |
| DCO Ducommun Inc. | 0.03% | 183,024 | $17.6M | Reduce -16.0% |
| EYE National Vision Holdings Inc. | 0.03% | 586,552 | $17.1M | Add +3.3% |
| BZH Beazer Homes USA Inc. | 0.03% | 695,937 | $17.1M | Add +3.1% |
| GHM Graham Corp. | 0.03% | 306,673 | $16.8M | Reduce -11.5% |
| BKD Brookdale Senior Living Inc. | 0.03% | 1,953,586 | $16.5M | Add +0.9% |
| LNC Lincoln National Corp. | 0.03% | 409,950 | $16.5M | Reduce -10.6% |
| PBF PBF Energy Inc. Class A | 0.03% | 547,546 | $16.5M | Add +7.9% |
| FN Fabrinet | 0.03% | 45,028 | $16.4M | Reduce -29.9% |
| OIS Oil States International Inc. filed as OIL STS INTL INC | 0.03% | 2,605,174 | $15.8M | Add +0.7% |
| KTOS Kratos Defense & Security | 0.03% | 170,063 | $15.5M | Reduce -39.5% |
| LPX Louisiana-Pacific Corp. | 0.03% | 173,916 | $15.5M | Add +7.7% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $57.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 24,541 | $31.4M | No change |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 20,691 | $25.5M | No change |
| ASPSW Altisource Portfolio - 30 | *W EXP 04/30/203 | 2,834 | $2K | New |
| ASPSZ Altisource Portfolio - 29C | *W EXP 04/02/202 | 2,834 | $2K | New |
Total filed on the 13F, all lines: $54.9B.
Portfolio Sells Q2 2025 → Q3 2025
| PM Philip Morris International | Reduce -14.2% | 1.81% | −0.79 |
| META Meta Platforms Inc. Class A | Reduce -0.0% | 4.46% | −0.47 |
| FLS Flowserve Corp. | Sold out | 0.00% | −0.41 |
| TXN Texas Instruments Inc. | Reduce -6.2% | 1.22% | −0.39 |
| RGLD Royal Gold Inc. | Reduce -32.8% | 0.82% | −0.37 |
| ORCL Oracle Corp. | Reduce -20.7% | 4.53% | −0.35 |
| FMX Fomento Economico Mex-SP ADR | Reduce -0.0% | 2.25% | −0.33 |
| MAG Mag Silver Corp. | Sold out | 0.00% | −0.33 |
| ABEV Ambev SA-ADR | Reduce -0.0% | 1.38% | −0.26 |
| BNY Bank of New York Mellon Corp. | Reduce -17.9% | 2.05% | −0.24 |
| KHC The Kraft Heinz Co. | Sold out | 0.00% | −0.21 |
| AXP American Express Co. | Reduce -10.8% | 1.04% | −0.19 |
| HCA HCA Healthcare Inc. | Reduce -6.9% | 3.04% | −0.19 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -12.3% | 0.78% | −0.17 |
| ADI Analog Devices Inc. | Reduce -9.5% | 0.91% | −0.16 |
| NTR Nutrien Ltd. | Reduce -0.2% | 1.42% | −0.13 |
| XRAY Dentsply Sirona Inc. | Reduce -0.1% | 0.33% | −0.12 |
| DE Deere & Co. | Reduce -0.1% | 0.43% | −0.10 |
| WY Weyerhaeuser Co. | Reduce -0.1% | 0.64% | −0.09 |
| CSL Carlisle Cos Inc. | Reduce -0.1% | 0.32% | −0.08 |
| RPM RPM International Inc. | Reduce -99.5% | 0.00% | −0.06 |
| EXR Extra Space Storage Inc. | Reduce -0.4% | 0.41% | −0.06 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.03 |
| KMPR Kemper Corp. | Sold out | 0.00% | −0.03 |
| PBPB Potbelly Corp. | Sold out | 0.00% | −0.02 |
| DEI Douglas Emmett Inc. | Reduce -0.2% | 0.37% | −0.02 |
| AL Sumisho Air Lease Corp. | Reduce -71.6% | 0.01% | −0.02 |
| INGR Ingredion Inc. | Reduce -94.3% | 0.00% | −0.02 |
| MOS The Mosaic Co. | Sold out | 0.00% | −0.02 |
| RELY Remitly Global Inc. | Sold out | 0.00% | −0.02 |
| FERG Ferguson Enterprises Inc. | Reduce -0.1% | 0.25% | −0.02 |
| AXS Axis Capital Holdings Ltd. | Reduce -41.8% | 0.01% | −0.01 |
| AHCO Adapthealth Corp. | Sold out | 0.00% | −0.01 |
| PTLO Portillo's Inc. Class A | Sold out | 0.00% | −0.01 |
| IPI Intrepid Potash Inc. | Reduce -32.0% | 0.02% | −0.01 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -8.3% | 0.07% | −0.01 |
| CRS Carpenter Technology | Sold out | 0.00% | −0.01 |
| SEM Select Medical Holdings Corp. | Sold out | 0.00% | −0.01 |
| TROX Tronox Holdings PLC | Sold out | 0.00% | −0.01 |
| ICHR Ichor Holdings Ltd. | Sold out | 0.00% | −0.01 |
| PHLT Performant Healthcare Inc. | Reduce -74.2% | 0.01% | −0.01 |
| SHOE Shoe Station Group Inc. | Sold out | 0.00% | −0.01 |
| QNST Quinstreet Inc. | Reduce -36.5% | 0.01% | −0.01 |
| EPD Enterprise Products Partners | Reduce -0.1% | 0.11% | −0.01 |
| FN Fabrinet | Reduce -29.9% | 0.03% | −0.01 |
| DRS Leonardo DRS Inc. | Sold out | 0.00% | −0.01 |
| FSLY Fastly Inc. Class A | Sold out | 0.00% | −0.01 |
| SHOO Steven Madden Ltd. | Sold out | 0.00% | −0.01 |
| NWE Northwestern Energy Group Inc. | Sold out | 0.00% | −0.01 |
| TIC Tic Solutions Inc. | Reduce -19.1% | 0.01% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| WDAY Workday Inc. Class A | New | 1.01% | +1.01 |
| OMC Omnicom Group | New | 0.94% | +0.94 |
| GOOG Alphabet Inc. Class C | Add +0.2% | 3.34% | +0.67 |
| FNV Franco-Nevada Corp. | Add +26.4% | 1.64% | +0.59 |
| BDX Becton Dickinson and Co. | Add +13.8% | 3.41% | +0.38 |
| TSM Taiwan Semiconductor-SP ADR | Add +0.1% | 3.41% | +0.37 |
| PAAS Pan American Silver Corp. | New | 0.32% | +0.32 |
| GLD SPDR Gold Shares | Add +2.7% | 1.64% | +0.14 |
| GFI Gold Fields Ltd.-Spons ADR | Add +0.1% | 0.27% | +0.10 |
| NG Novagold Resources Inc. | Add +0.1% | 0.19% | +0.09 |
| AU Anglogold Ashanti PLC | Add +0.1% | 0.26% | +0.08 |
| BIO Bio-Rad Laboratories-A | Add +0.1% | 1.29% | +0.07 |
| AGI Alamos Gold Inc. Class A | Add +0.1% | 0.40% | +0.06 |
| CHTR Charter Communications Inc. Class A | Add +79.3% | 0.68% | +0.06 |
| UHS Universal Health Services-B | Add +0.0% | 1.72% | +0.04 |
| IPGP Ipg Photonics Corp. | Add +0.2% | 0.65% | +0.03 |
| BTG B2GOLD Corp. | Add +0.1% | 0.12% | +0.02 |
| BTI British American Tob-SP ADR | Add +14.2% | 0.12% | +0.02 |
| KRE SS SPDR S&P Regional Bank | New | 0.01% | +0.01 |
| ACLS Axcelis Technologies Inc. | Add +78.6% | 0.02% | +0.01 |
| FIVN FIVE9 Inc. | New | 0.01% | +0.01 |
| VECO Veeco Instruments Inc. | Add +28.9% | 0.03% | +0.01 |
| AXGN Axogen Inc. | Add +142.7% | 0.01% | +0.01 |
| ROG Rogers Corp. | New | 0.01% | +0.01 |
| OKE Oneok Inc. | Add +24.2% | 1.03% | +0.01 |
| METCB Ramaco Resources Inc. Class B | New | 0.01% | +0.01 |
| DEO Diageo PLC-Sponsored ADR | Add +90.3% | 0.02% | +0.01 |
| MATV Mativ Holdings Inc. | Add +15.2% | 0.02% | +0.01 |
| BBNX Beta Bionics Inc. | New | 0.01% | +0.01 |
| PBF PBF Energy Inc. Class A | Add +7.9% | 0.03% | +0.01 |
| NVST Envista Holdings Corp. | New | 0.01% | +0.01 |
| XRX Xerox Holdings Corp. | New | 0.01% | +0.01 |
| MHO M/I Homes Inc. | New | 0.01% | +0.01 |
| DV Doubleverify Holdings Inc. | New | 0.01% | +0.01 |
| HNGE Hinge Health Inc. Class A | New | 0.01% | +0.01 |
| TFX Teleflex Inc. | New | 0.01% | +0.01 |
| ASPN Aspen Aerogels Inc. | New | 0.01% | +0.01 |
| SMWB Similarweb Ltd. | Add +221.5% | 0.01% | +0.01 |
| RDNT Radnet Inc. | Add +72.0% | 0.01% | +0.01 |
| CENX Century Aluminum Company | Add +0.6% | 0.02% | +0.01 |
| CCS Century Communities Inc. | Add +26.6% | 0.03% | +0.01 |
| MASS 908 Devices Inc. | Add +125.9% | 0.01% | +0.01 |
| AIN Albany Intl Corp. Class A | New | 0.01% | +0.01 |
| SRTA Strata Critical Medical Inc. | Add +32.5% | 0.02% | +0.01 |
| MTRN Materion Corp. | New | 0.01% | +0.01 |
| STNG Scorpio Tankers Inc. | Add +1.9% | 0.02% | +0.01 |
| OTIS Otis Worldwide Corp. | Add +52.9% | 0.02% | +0.01 |
| AMWD American Woodmark Corp. | Add +20.4% | 0.02% | +0.01 |
| FOR Forestar Group Inc. | Add +3.3% | 0.03% | +0.01 |
| EYE National Vision Holdings Inc. | Add +3.3% | 0.03% | +0.01 |
Options Activity Q2 2025 → Q3 2025
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Sold out | 12,000,000 | $967.8Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| ASPSW Altisource Portfolio - 30 | *W EXP 04/30/203 | New | 2,834 | $2K |
| ASPSZ Altisource Portfolio - 29C | *W EXP 04/02/202 | New | 2,834 | $2K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 420 | $60.7B | GOOG, BDX, META, TSM, FMX |
| Q1 2026Amended | 416 | $58.9B | GOOG, BDX, WPM, IMO, META |
| Q4 2025 | 418 | $56.8B | GOOG, BDX, META, WPM, TSM |
| Q3 2025 | 400 | $54.9B | ORCL, META, WPM, TSM, BDX |
| Q2 2025 | 389 | $49.9B | META, ORCL, IMO, WPM, HCA |
| Q1 2025 | 408 | $47.4B | META, ORCL, HCA, IMO, WTW |
| Q4 2024 | 420 | $44.6B | META, ORCL, WTW, HCA, IMO |
| Q3 2024 | 391 | $48.5B | ORCL, META, HCA, XOM, IMO |
| Q2 2024 | 395 | $44.1B | ORCL, META, XOM, IMO, HCA |
| Q1 2024 | 401 | $44.0B | ORCL, META, IMO, XOM, HCA |