First Eagle Investment Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), First Eagle Investment Management, LLC reported 418 stock positions worth $56.8 billion. Its top holding was Alphabet Class C (GOOG) at 4.1% of the portfolio, followed by Becton Dickinson and (BDX, 4.0%) and Meta Platforms Class A (META, 3.7%). Compared with Q3 2025, it opened 52 new positions, sold out of 35, added to 174 and reduced 168. The biggest buy was Weyerhaeuser (WY, shares +166%) and the biggest sale Oracle (ORCL, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001325447
- Portfolio Value
- $56.8B (Q4 2025)
- SEC Filing
- 0001325447-26-000004 ↗ filed Feb 4, 2026
Holdings Value
Holdings 418 stocks · $56.8B
| GOOG Alphabet Inc. Class C | 4.07% | 7,369,114 | $2.3B | Reduce -2.1% |
| BDX Becton Dickinson and Co. | 3.98% | 11,646,000 | $2.3B | Add +16.5% |
| META Meta Platforms Inc. Class A | 3.66% | 3,149,947 | $2.1B | Reduce -5.5% |
| WPM Wheaton Precious Metals Corp. | 3.19% | 15,390,108 | $1.8B | Reduce -10.3% |
| TSM Taiwan Semiconductor-SP ADR | 3.18% | 5,938,326 | $1.8B | Reduce -11.4% |
| HCA HCA Healthcare Inc. | 3.00% | 3,646,152 | $1.7B | Reduce -7.0% |
| ORCL Oracle Corp. | 2.85% | 8,290,272 | $1.6B | Reduce -6.2% |
| IMO Imperial Oil Ltd. | 2.83% | 18,605,005 | $1.6B | Reduce -7.6% |
| CHRW C.H. Robinson Worldwide Inc. | 2.57% | 9,074,016 | $1.5B | Reduce -14.1% |
| ELV Elevance Health Inc. | 2.48% | 4,022,874 | $1.4B | Add +0.6% |
| B Barrick Mining Corp. | 2.46% | 32,114,660 | $1.4B | Reduce -16.9% |
| WTW Willis Towers Watson PLC | 2.46% | 4,250,802 | $1.4B | Reduce -0.3% |
| NEM Newmont Corp. | 2.41% | 13,717,958 | $1.4B | Reduce -12.3% |
| FMX Fomento Economico Mex-SP ADR | 2.23% | 12,507,215 | $1.3B | Reduce -0.0% |
| CRM Salesforce Inc. | 2.02% | 4,319,206 | $1.1B | Add +17.0% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 1.99% | 9,745,637 | $1.1B | Reduce -5.4% |
| CMCSA Comcast Corp. Class A | 1.91% | 36,171,945 | $1.1B | Add +0.7% |
| SLB SLB Ltd. filed as SLB LIMITED | 1.87% | 27,718,458 | $1.1B | Add +0.6% |
| FNV Franco-Nevada Corp. | 1.87% | 5,123,444 | $1.1B | Add +26.5% |
| GLD SPDR Gold Shares | 1.73% | 2,474,833 | $980.8M | Reduce -2.2% |
| EXPD Expeditors Intl Wash Inc. | 1.66% | 6,312,305 | $940.6M | Add +0.5% |
| UHS Universal Health Services-B | 1.66% | 4,313,583 | $940.4M | Reduce -6.7% |
| MDT Medtronic PLC | 1.65% | 9,775,234 | $939.0M | Add +0.4% |
| XOM Exxon Mobil Corp. | 1.64% | 7,753,826 | $933.1M | Reduce -0.5% |
| WDAY Workday Inc. Class A | 1.64% | 4,338,773 | $931.9M | Add +87.8% |
| PM Philip Morris International | 1.64% | 5,808,120 | $931.6M | Reduce -5.1% |
| WY Weyerhaeuser Co. | 1.57% | 37,621,004 | $891.2M | Add +166.2% |
| AEM Agnico Eagle Mines Ltd. | 1.55% | 5,192,410 | $880.6M | Reduce -1.3% |
| OKE Oneok Inc. | 1.47% | 11,365,304 | $835.3M | Add +46.3% |
| ABEV Ambev SA-ADR | 1.46% | 336,057,984 | $830.1M | Reduce -0.8% |
| NTR Nutrien Ltd. | 1.45% | 13,307,283 | $821.3M | Add +0.5% |
| BIO Bio-Rad Laboratories-A | 1.37% | 2,570,473 | $778.8M | Add +2.0% |
| PPG PPG Industries Inc. | 1.14% | 6,290,622 | $644.5M | Add +0.4% |
| TXN Texas Instruments Inc. | 1.12% | 3,649,310 | $633.1M | Add +0.5% |
| CL Colgate-Palmolive Co. | 1.10% | 7,918,979 | $625.8M | Add +0.4% |
| CHTR Charter Communications Inc. Class A | 1.09% | 2,969,507 | $619.9M | Add +119.6% |
| AXP American Express Co. | 1.07% | 1,639,846 | $606.7M | Reduce -4.8% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 1.05% | 8,831,668 | $595.2M | Add +27.5% |
| NOV Nov Inc. | 1.04% | 37,597,874 | $587.7M | Reduce -0.0% |
| DG Dollar General Corp. | 1.03% | 4,417,971 | $586.6M | Reduce -26.1% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 1.03% | 9,242,013 | $582.6M | Add +0.5% |
| ADI Analog Devices Inc. | 0.97% | 2,025,829 | $549.4M | Reduce -0.2% |
| GOOGL Alphabet Inc. Class A | 0.95% | 1,727,965 | $540.9M | Reduce -47.1% |
| OMC Omnicom Group | 0.90% | 6,352,034 | $512.9M | Add +0.5% |
| USB US Bancorp | 0.83% | 8,818,344 | $470.5M | Add +0.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.74% | 553 | $417.4M | Reduce -2.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.69% | 3,443,391 | $391.8M | Add +0.5% |
| CMI Cummins Inc. | 0.68% | 754,938 | $385.4M | Reduce -47.0% |
| NE Noble Corp. PLC | 0.61% | 12,195,825 | $344.4M | Add +0.2% |
| FNF Fidelity National Financial | 0.59% | 6,102,523 | $333.1M | Add +0.9% |
| EXR Extra Space Storage Inc. | 0.59% | 2,552,053 | $332.3M | Add +61.8% |
| IPGP Ipg Photonics Corp. | 0.57% | 4,487,103 | $321.3M | Add +0.3% |
| MSFT Microsoft Corp. | 0.48% | 557,601 | $269.7M | Add +2.1% |
| ROST Ross Stores Inc. | 0.46% | 1,464,567 | $263.8M | Add +2.4% |
| MICC The Magnum Ice Cream Co. NV | 0.46% | 16,313,055 | $260.5M | Add +11527.5% |
| KGC Kinross Gold Corp. | 0.46% | 9,228,855 | $259.9M | Reduce -8.8% |
| DE Deere & Co. | 0.43% | 522,213 | $243.1M | Add +2.0% |
| AGI Alamos Gold Inc. Class A | 0.42% | 6,173,289 | $238.4M | Reduce -1.2% |
| BXP BXP Inc. | 0.41% | 3,410,909 | $230.2M | Reduce -3.4% |
| CSL Carlisle Cos Inc. | 0.36% | 646,162 | $206.7M | Add +20.4% |
| RGLD Royal Gold Inc. | 0.36% | 926,123 | $205.9M | Reduce -58.8% |
| CCU Cia Cervecerias Uni-Spon ADR filed as COMPANIA CERVECERIAS UNIDAS | 0.36% | 15,915,910 | $203.1M | Add +0.1% |
| PAAS Pan American Silver Corp. | 0.32% | 3,488,959 | $180.9M | Reduce -24.1% |
| XRAY Dentsply Sirona Inc. | 0.29% | 14,640,555 | $167.3M | Add +3.2% |
| GFI Gold Fields Ltd.-Spons ADR | 0.27% | 3,538,081 | $154.5M | Reduce -1.4% |
| FERG Ferguson Enterprises Inc. | 0.25% | 629,445 | $140.1M | Add +5.0% |
| DEI Douglas Emmett Inc. | 0.24% | 12,557,124 | $138.0M | Reduce -3.5% |
| AU Anglogold Ashanti PLC | 0.22% | 1,491,498 | $127.2M | Reduce -27.5% |
| NG Novagold Resources Inc. | 0.15% | 9,177,188 | $85.5M | Reduce -22.3% |
| BTI British American Tob-SP ADR | 0.14% | 1,407,980 | $79.7M | Add +9.6% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.11% | 712,283 | $65.1M | Add +77.8% |
| SHEL Shell PLC-ADR | 0.11% | 873,572 | $64.2M | Add +30.7% |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.11% | 4,769,471 | $64.1M | Reduce -29.0% |
| EPD Enterprise Products Partners | 0.11% | 1,915,695 | $61.4M | Add +3.6% |
| UL Unilever PLC-Sponsored ADR | 0.08% | 677,384 | $44.3M | Add +8.7% |
| BTG B2GOLD Corp. | 0.08% | 9,708,102 | $43.7M | Reduce -24.6% |
| LYG Lloyds Banking Group PLC-ADR | 0.07% | 6,971,101 | $36.9M | Add +10.2% |
| KOF Coca-Cola Femsa Sab-SP ADR | 0.06% | 371,596 | $35.2M | No change |
| HLN Haleon PLC-ADR | 0.06% | 3,335,583 | $33.7M | Add +9.1% |
| CAE Cae Inc. | 0.05% | 935,036 | $28.4M | Reduce -0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.05% | 51,877 | $26.1M | Add +238.8% |
| TEL Te Connectivity PLC | 0.04% | 111,336 | $25.3M | Reduce -6.4% |
| HL Hecla Mining Co. | 0.04% | 1,246,713 | $23.9M | Reduce -28.8% |
| CDE Coeur Mining Inc. | 0.04% | 1,231,606 | $22.0M | Reduce -25.6% |
| CECO Ceco Environmental Corp. | 0.04% | 366,867 | $22.0M | Reduce -15.5% |
| BKD Brookdale Senior Living Inc. | 0.04% | 1,955,530 | $21.1M | Add +0.1% |
| AEIS Advanced Energy Industries | 0.04% | 98,473 | $20.6M | Reduce -15.2% |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.04% | 2,793,981 | $20.0M | Add +12.2% |
| CMC Commercial Metals Co. | 0.03% | 272,349 | $18.9M | Add +3.1% |
| LINC Lincoln Educational Services | 0.03% | 778,630 | $18.8M | Add +0.5% |
| LNC Lincoln National Corp. | 0.03% | 409,936 | $18.3M | Reduce 0.0% |
| TTMI TTM Technologies | 0.03% | 264,219 | $18.2M | Reduce -26.7% |
| OUT Outfront Media Inc. | 0.03% | 748,535 | $18.0M | Reduce -7.2% |
| GHM Graham Corp. | 0.03% | 280,173 | $18.0M | Reduce -8.6% |
| OIS Oil States International Inc. filed as OIL STS INTL INC | 0.03% | 2,581,674 | $17.5M | Reduce -0.9% |
| DCO Ducommun Inc. | 0.03% | 181,324 | $17.2M | Reduce -0.9% |
| MAMA Mama's Creations Inc. | 0.03% | 1,277,470 | $17.2M | Reduce -4.5% |
| KALU Kaiser Aluminum Corp. | 0.03% | 146,915 | $16.9M | Reduce -4.1% |
| AMRC Ameresco Inc. Class A | 0.03% | 574,673 | $16.8M | Reduce -20.2% |
| HD Home Depot Inc. | 0.03% | 48,672 | $16.7M | Reduce -0.6% |
Options reported separately and not counted above: TLT puts ($0).
Other holdings (4): bonds, preferreds, convertibles and warrants · $68.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 29,641 | $37.1M | Add +20.8% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 25,741 | $31.2M | Add +24.4% |
| ASPSW Altisource Portfolio - 30 | *W EXP 04/30/203 | 2,834 | $1K | No change |
| ASPSZ Altisource Portfolio - 29C | *W EXP 04/02/202 | 2,834 | $935 | No change |
Total filed on the 13F, all lines: $56.8B.
Portfolio Sells Q3 2025 → Q4 2025
| ORCL Oracle Corp. | Reduce -6.2% | 2.85% | −1.68 |
| META Meta Platforms Inc. Class A | Reduce -5.5% | 3.66% | −0.80 |
| IMO Imperial Oil Ltd. | Reduce -7.6% | 2.83% | −0.50 |
| GOOGL Alphabet Inc. Class A | Reduce -47.1% | 0.95% | −0.50 |
| RGLD Royal Gold Inc. | Reduce -58.8% | 0.36% | −0.46 |
| CMI Cummins Inc. | Reduce -47.0% | 0.68% | −0.42 |
| WPM Wheaton Precious Metals Corp. | Reduce -10.3% | 3.19% | −0.31 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -11.4% | 3.18% | −0.23 |
| WTW Willis Towers Watson PLC | Reduce -0.3% | 2.46% | −0.22 |
| PM Philip Morris International | Reduce -5.1% | 1.64% | −0.17 |
| DEI Douglas Emmett Inc. | Reduce -3.5% | 0.24% | −0.13 |
| DG Dollar General Corp. | Reduce -26.1% | 1.03% | −0.09 |
| BXP BXP Inc. | Reduce -3.4% | 0.41% | −0.07 |
| UHS Universal Health Services-B | Reduce -6.7% | 1.66% | −0.06 |
| AEM Agnico Eagle Mines Ltd. | Reduce -1.3% | 1.55% | −0.06 |
| BNY Bank of New York Mellon Corp. | Reduce -5.4% | 1.99% | −0.05 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -2.8% | 0.74% | −0.05 |
| HCA HCA Healthcare Inc. | Reduce -7.0% | 3.00% | −0.05 |
| AU Anglogold Ashanti PLC | Reduce -27.5% | 0.22% | −0.04 |
| BTG B2GOLD Corp. | Reduce -24.6% | 0.08% | −0.04 |
| NG Novagold Resources Inc. | Reduce -22.3% | 0.15% | −0.04 |
| PBF PBF Energy Inc. Class A | Sold out | 0.00% | −0.03 |
| MTDR Matador Resources Co. | Sold out | 0.00% | −0.02 |
| FMX Fomento Economico Mex-SP ADR | Reduce -0.0% | 2.23% | −0.02 |
| AMWD American Woodmark Corp. | Sold out | 0.00% | −0.02 |
| BLZE Backblaze Inc. Class A | Sold out | 0.00% | −0.02 |
| ORLA Orla Mining Ltd. | Reduce -29.0% | 0.11% | −0.02 |
| SM SM Energy Co. | Sold out | 0.00% | −0.02 |
| CDE Coeur Mining Inc. | Reduce -25.6% | 0.04% | −0.02 |
| AOSL Alpha & Omega Semiconductor | Sold out | 0.00% | −0.02 |
| SAH Sonic Automotive Inc. Class A | Sold out | 0.00% | −0.02 |
| DENN Denny's Corp. | Sold out | 0.00% | −0.02 |
| CARS Cars.com Inc. | Sold out | 0.00% | −0.02 |
| PENG Penguin Solutions Inc. | Sold out | 0.00% | −0.02 |
| CXM Sprinklr Inc. Class A | Sold out | 0.00% | −0.02 |
| AMRC Ameresco Inc. Class A | Reduce -20.2% | 0.03% | −0.01 |
| MGNI Magnite Inc. | Reduce -48.5% | 0.01% | −0.01 |
| WRBY Warby Parker Inc. Class A | Reduce -35.8% | 0.01% | −0.01 |
| MNRO Monro Inc. | Sold out | 0.00% | −0.01 |
| AVT Avnet Inc. | Sold out | 0.00% | −0.01 |
| EYE National Vision Holdings Inc. | Reduce -23.0% | 0.02% | −0.01 |
| GT Goodyear Tire & Rubber Co. | Sold out | 0.00% | −0.01 |
| KTOS Kratos Defense & Security | Reduce -21.8% | 0.02% | −0.01 |
| PHLT Performant Healthcare Inc. | Sold out | 0.00% | −0.01 |
| RXO Rxo Inc. | Sold out | 0.00% | −0.01 |
| THRY Thryv Holdings Inc. | Reduce -0.4% | 0.01% | −0.01 |
| PR Permian Resources Corp. Class A | Reduce -90.9% | 0.00% | −0.01 |
| KOS Kosmos Energy Ltd. | Sold out | 0.00% | −0.01 |
| STKL Sunopta Inc. | Sold out | 0.00% | −0.01 |
| ZIMV Zimvie Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| WY Weyerhaeuser Co. | Add +166.2% | 1.57% | +0.93 |
| WDAY Workday Inc. Class A | Add +87.8% | 1.64% | +0.63 |
| BDX Becton Dickinson and Co. | Add +16.5% | 3.98% | +0.57 |
| MICC The Magnum Ice Cream Co. NV | Add +11527.5% | 0.46% | +0.46 |
| OKE Oneok Inc. | Add +46.3% | 1.47% | +0.44 |
| CRM Salesforce Inc. | Add +17.0% | 2.02% | +0.42 |
| CHTR Charter Communications Inc. Class A | Add +119.6% | 1.09% | +0.41 |
| IFF Intl Flavors & Fragrances | Add +27.5% | 1.05% | +0.27 |
| EXPD Expeditors Intl Wash Inc. | Add +0.5% | 1.66% | +0.25 |
| FNV Franco-Nevada Corp. | Add +26.5% | 1.87% | +0.23 |
| EXR Extra Space Storage Inc. | Add +61.8% | 0.59% | +0.18 |
| SLB SLB Ltd. | Add +0.6% | 1.87% | +0.15 |
| ELV Elevance Health Inc. | Add +0.6% | 2.48% | +0.13 |
| BIO Bio-Rad Laboratories-A | Add +2.0% | 1.37% | +0.08 |
| ROST Ross Stores Inc. | Add +2.4% | 0.46% | +0.07 |
| USB US Bancorp | Add +0.5% | 0.83% | +0.06 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +77.8% | 0.11% | +0.05 |
| CSL Carlisle Cos Inc. | Add +20.4% | 0.36% | +0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +238.8% | 0.05% | +0.03 |
| NTR Nutrien Ltd. | Add +0.5% | 1.45% | +0.03 |
| SHEL Shell PLC-ADR | Add +30.7% | 0.11% | +0.03 |
| FG F&G Annuities & Life Inc. | New | 0.02% | +0.02 |
| EXP Eagle Materials Inc. | New | 0.02% | +0.02 |
| BTI British American Tob-SP ADR | Add +9.6% | 0.14% | +0.02 |
| DORM Dorman Products Inc. | New | 0.02% | +0.02 |
| RELY Remitly Global Inc. | New | 0.02% | +0.02 |
| SLP Simulations Plus Inc. | Add +1898.1% | 0.01% | +0.01 |
| ABM Abm Industries Inc. | New | 0.01% | +0.01 |
| TRNS Transcat Inc. | New | 0.01% | +0.01 |
| LYG Lloyds Banking Group PLC-ADR | Add +10.2% | 0.07% | +0.01 |
| FLOC Flowco Holdings Inc. Class A | New | 0.01% | +0.01 |
| TFX Teleflex Inc. | Add +163.4% | 0.02% | +0.01 |
| HNGE Hinge Health Inc. Class A | Add +167.2% | 0.02% | +0.01 |
| FLS Flowserve Corp. | New | 0.01% | +0.01 |
| FVR Frontview REIT Inc. | Add +1230.4% | 0.01% | +0.01 |
| PXED Phoenix Education Partners I | New | 0.01% | +0.01 |
| HLN Haleon PLC-ADR | Add +9.1% | 0.06% | +0.01 |
| CENTA Central Garden and Pet Co. Class A | New | 0.01% | +0.01 |
| ROG Rogers Corp. | Add +69.5% | 0.02% | +0.01 |
| ATRC Atricure Inc. | New | 0.01% | +0.01 |
| MRVI Maravai Lifesciences Hldgs-A | Add +299.0% | 0.01% | +0.01 |
| SMBK Smartfinancial Inc. | Add +375.5% | 0.01% | +0.01 |
| SONO Sonos Inc. | New | 0.01% | +0.01 |
| MTRN Materion Corp. | Add +136.7% | 0.01% | +0.01 |
| THR Thermon Group Holdings Inc. | Add +2.2% | 0.03% | +0.01 |
| BKD Brookdale Senior Living Inc. | Add +0.1% | 0.04% | +0.01 |
| ALGT Allegiant Travel Co. | New | 0.01% | +0.01 |
| CCU Cia Cervecerias Uni-Spon ADR | Add +0.1% | 0.36% | +0.01 |
| AMBQ Ambiq Micro Inc. | Add +222.1% | 0.01% | +0.01 |
| RRBI Red River Bancshares Inc. | New | 0.01% | +0.01 |
Options Activity Q3 2025 → Q4 2025
| TLT iShares 20+ Year Treasury BD | put | New | 700,000 | $0 |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +20.8% | 29,641 | $37.1M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +24.4% | 25,741 | $31.2M |
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 |