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

0$20.0B$40.0B$60.0B$80.0B Q1 2024: $44.0B Q1 2024 Q2 2024: $44.1B Q2 2024 Q3 2024: $48.5B Q3 2024 Q4 2024: $44.6B Q4 2024 Q1 2025: $47.4B Q1 2025 Q2 2025: $49.9B Q2 2025 Q3 2025: $54.9B Q3 2025 Q4 2025: $56.8B $56.8B Q4 2025 Q1 2026: $58.9B Q1 2026 Q2 2026: $60.7B Q2 2026

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%
IBP Installed Building Products 0.03% 60,988 $15.8M Reduce -0.5%
LPX Louisiana-Pacific Corp. 0.03% 195,699 $15.8M Add +12.5%
ABCB Ameris Bancorp 0.03% 203,614 $15.1M Add +3.6%
FORM Formfactor Inc. 0.03% 269,222 $15.0M Reduce -10.6%
THR Thermon Group Holdings Inc. 0.03% 400,510 $14.9M Add +2.2%
VSH Vishay Intertechnology Inc. 0.03% 1,022,488 $14.8M Add +11.1%
WBS Webster Financial Corp. 0.03% 227,302 $14.3M Add +9.9%
CCS Century Communities Inc. 0.03% 240,940 $14.3M Add +10.3%
SIMO Silicon Motion Technol-ADR 0.03% 153,519 $14.2M Add +2.0%
ATEC Alphatec Holdings Inc. 0.03% 676,137 $14.2M Reduce -3.1%
BZH Beazer Homes USA Inc. 0.03% 701,437 $14.2M Add +0.8%
OTIS Otis Worldwide Corp. 0.03% 162,639 $14.2M Add +13.2%
AORT Artivion Inc. 0.02% 306,893 $14.0M Reduce -9.8%
WCC Wesco International Inc. 0.02% 57,208 $14.0M Reduce -12.3%
NPO Enpro Inc. 0.02% 64,313 $13.8M Add +7.5%
TMHC Taylor Morrison Home Corp. 0.02% 232,134 $13.7M Add +0.3%
ONB Old National Bancorp 0.02% 611,798 $13.6M Add +6.1%
VECO Veeco Instruments Inc. 0.02% 469,408 $13.4M Reduce -2.1%
AXGN Axogen Inc. 0.02% 407,593 $13.3M Reduce -5.6%
ACA Arcosa Inc. 0.02% 125,462 $13.3M Reduce -2.3%
SBCF Seacoast Banking Corp. 0.02% 417,900 $13.1M Add +1.2%
FN Fabrinet 0.02% 28,673 $13.1M Reduce -36.3%
VIAV Viavi Solutions Inc. 0.02% 723,800 $12.9M Reduce -6.2%
UNH Unitedhealth Group Inc. 0.02% 39,068 $12.9M Reduce -0.6%
ORI Old Republic Intl Corp. 0.02% 280,662 $12.8M Reduce -0.1%
MATV Mativ Holdings Inc. 0.02% 1,053,792 $12.8M Add +4.0%
DY Dycom Industries Inc. 0.02% 37,792 $12.8M Reduce -18.6%
PNTG The Pennant Group Inc. 0.02% 447,949 $12.6M Add +1.3%
ATRO Astronics Corp. 0.02% 230,326 $12.5M Reduce -2.5%
IIIN Insteel Industries Inc. 0.02% 389,954 $12.3M Reduce -3.1%
AX Axos Financial Inc. 0.02% 142,287 $12.3M Add +1.8%
ASTE Astec Industries Inc. 0.02% 282,250 $12.2M Reduce -5.3%
SPB Spectrum Brands Holdings Inc. 0.02% 206,772 $12.2M Add +9.6%
FOR Forestar Group Inc. 0.02% 495,769 $12.2M Reduce -7.7%
NVGS Navigator Holdings Ltd. 0.02% 695,619 $12.0M Reduce -0.2%
MTG Mgic Investment Corp. 0.02% 412,253 $12.0M Add +0.1%
CENX Century Aluminum Company 0.02% 301,612 $11.8M Reduce -11.3%
UTI Universal Technical Institut 0.02% 447,231 $11.7M Add +2.2%
EYE National Vision Holdings Inc. 0.02% 451,552 $11.7M Reduce -23.0%
IDA Idacorp Inc. 0.02% 91,312 $11.6M No change
UMH Umh Properties Inc. filed as UMH PPTYS INC 0.02% 716,419 $11.4M Add +6.9%
FG F&G Annuities & Life Inc. 0.02% 366,671 $11.3M New
TITN Titan Machinery Inc. 0.02% 748,563 $11.3M Reduce -0.1%
NMIH Nmi Holdings Inc. filed as NMI HLDGS INC 0.02% 273,259 $11.1M Reduce -0.0%
LXU LSB Industries Inc. 0.02% 1,310,794 $11.1M Reduce -17.0%
FIP Ftai Infrastructure Inc. 0.02% 2,383,921 $11.0M Add +7.1%
ACLS Axcelis Technologies Inc. 0.02% 136,318 $11.0M Add +4.6%
GLNG Golar LNG Ltd. 0.02% 293,472 $10.9M Add +3.8%
STNG Scorpio Tankers Inc. 0.02% 214,068 $10.9M No change
ROG Rogers Corp. 0.02% 118,329 $10.8M Add +69.5%
ADTN Adtran Holdings Inc. 0.02% 1,235,207 $10.7M Add +2.1%
DEO Diageo PLC-Sponsored ADR 0.02% 124,372 $10.7M Reduce -6.5%
HCSG Healthcare Services Group 0.02% 561,035 $10.7M Add +0.2%
BHE Benchmark Electronics Inc. 0.02% 250,469 $10.7M Add +5.0%
EXP Eagle Materials Inc. 0.02% 51,334 $10.6M New
SIBN Si-Bone Inc. 0.02% 537,461 $10.6M Add +11.0%
VITL Vital Farms Inc. 0.02% 330,179 $10.5M Add +17.4%
LFST Lifestance Health Group Inc. 0.02% 1,496,466 $10.5M Add +13.3%
TRN Trinity Industries Inc. 0.02% 396,147 $10.5M Reduce -0.1%
TRS Trimas Corp. 0.02% 294,706 $10.4M Reduce -0.6%
UCTT Ultra Clean Holdings Inc. 0.02% 410,569 $10.4M Add +2.0%
SKY Champion Homes Inc. 0.02% 122,824 $10.4M Add +10.1%
BCC Boise Cascade Co. 0.02% 140,496 $10.3M Add +30.8%
VLY Valley National Bancorp 0.02% 883,000 $10.3M Reduce -0.3%
KRE SS SPDR S&P Regional Bank 0.02% 159,119 $10.3M Add +30.8%
HNGE Hinge Health Inc. Class A 0.02% 221,751 $10.3M Add +167.2%
CDNA Caredx Inc. 0.02% 546,722 $10.3M Add +15.1%
TFX Teleflex Inc. 0.02% 84,300 $10.3M Add +163.4%
SRTA Strata Critical Medical Inc. 0.02% 2,129,550 $10.2M Add +18.8%
CUBI Customers Bancorp Inc. 0.02% 139,293 $10.2M Add +37.6%
CHEF The Chefs' Warehouse Inc. 0.02% 162,873 $10.2M Add +0.3%
KTOS Kratos Defense & Security 0.02% 133,063 $10.1M Reduce -21.8%
PWP Perella Weinberg Partners 0.02% 583,848 $10.1M Add +24.8%
NGS Natural Gas Services Group 0.02% 295,239 $9.9M Reduce -1.5%
MTW Manitowoc Company Inc. 0.02% 828,369 $9.9M Reduce -0.8%
WSR Whitestone REIT 0.02% 713,049 $9.9M Reduce -0.1%
JBTM JBT Marel Corp. 0.02% 63,623 $9.6M Reduce -0.6%
GSM Ferroglobe PLC 0.02% 2,063,272 $9.6M Reduce -1.8%
CIEN Ciena Corp. 0.02% 40,900 $9.6M Reduce -39.3%
HSTM Healthstream Inc. 0.02% 413,698 $9.5M Add +1.1%
LPG Dorian LPG Ltd. 0.02% 385,825 $9.4M Add +0.1%
BDC Belden Inc. 0.02% 80,037 $9.3M Reduce -4.4%
VPG Vishay Precision Group 0.02% 241,692 $9.3M Reduce -2.2%
ASYS Amtech Systems Inc. 0.02% 734,346 $9.2M Reduce -2.4%
RDN Radian Group Inc. 0.02% 255,688 $9.2M Reduce -0.1%
UTZ Utz Brands Inc. 0.02% 886,250 $9.2M Add +22.1%
PKOH Park-Ohio Holdings Corp. 0.02% 435,605 $9.1M Add +5.2%
DORM Dorman Products Inc. 0.02% 73,342 $9.0M New
JBI Janus International Group Inc. 0.02% 1,374,346 $9.0M Add +21.1%
RELY Remitly Global Inc. 0.02% 641,454 $8.9M New
BKH Black Hills Corp. 0.02% 126,670 $8.8M Add +2.4%
STC Stewart Information Services 0.02% 121,779 $8.6M Add +5.9%
AXS Axis Capital Holdings Ltd. 0.01% 79,249 $8.5M Reduce -0.9%
MUR Murphy Oil Corp. 0.01% 269,000 $8.4M Reduce -16.6%
HLIT Harmonic Inc. 0.01% 849,876 $8.4M Add +3.9%
SLP Simulations Plus Inc. 0.01% 457,155 $8.3M Add +1898.1%
OGS One Gas Inc. 0.01% 104,064 $8.0M Add +2.5%
TALK Talkspace Inc. 0.01% 2,206,130 $8.0M Add +16.7%
DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC 0.01% 261,852 $7.9M Reduce -0.2%
AVNW Aviat Networks Inc. 0.01% 368,156 $7.9M Reduce -3.2%
BBNX Beta Bionics Inc. 0.01% 253,702 $7.7M Add +8.8%
WRBY Warby Parker Inc. Class A 0.01% 352,941 $7.7M Reduce -35.8%
MHO M/I Homes Inc. 0.01% 60,100 $7.7M Add +110.1%
ABM Abm Industries Inc. 0.01% 180,218 $7.6M New
CON Concentra Group Holdings Par 0.01% 383,206 $7.5M Add +18.4%
MTRX Matrix Service Co. 0.01% 640,083 $7.5M Add +10.0%
NX Quanex Building Products 0.01% 479,687 $7.4M Add +17.7%
TKR Timken Co. 0.01% 87,203 $7.3M Add +1.4%
DGII Digi International Inc. 0.01% 169,409 $7.3M Reduce -5.0%
FIVN FIVE9 Inc. 0.01% 363,000 $7.3M Add +22.8%
GEOS Geospace Technologies Corp. 0.01% 430,273 $7.3M Reduce -17.7%
DV Doubleverify Holdings Inc. 0.01% 635,000 $7.3M Add +88.2%
TRNS Transcat Inc. 0.01% 127,957 $7.3M New
MTRN Materion Corp. 0.01% 58,000 $7.2M Add +136.7%
IPI Intrepid Potash Inc. 0.01% 249,174 $6.9M Reduce -7.9%
EVER Everquote Inc. Class A 0.01% 251,957 $6.8M Reduce -12.7%
OSIS Osi Systems Inc. 0.01% 26,564 $6.8M Reduce -13.9%
INFU Infusystem Holdings Inc. 0.01% 751,371 $6.7M Reduce -6.3%
GXO Gxo Logistics Inc. 0.01% 127,746 $6.7M Reduce -0.5%
MEC Mayville Engineering Co. Inc. 0.01% 358,075 $6.7M Add +1.0%
HZO Marinemax Inc. 0.01% 276,435 $6.7M Add +1.3%
SMHI Seacor Marine Holdings Inc. 0.01% 1,111,167 $6.7M Reduce -2.1%
AIN Albany Intl Corp. Class A 0.01% 131,829 $6.7M Add +123.4%
RDNT Radnet Inc. 0.01% 93,136 $6.6M Add +4.0%
CAKE The Cheesecake Factory Inc. 0.01% 131,591 $6.6M Add +38.8%
FLOC Flowco Holdings Inc. Class A 0.01% 344,309 $6.5M New
AVAH Aveanna Healthcare Holdings 0.01% 781,667 $6.4M Reduce -1.3%
PEP Pepsico Inc. 0.01% 44,480 $6.4M Reduce -0.6%
SDHC Smith Douglas Homes Corp. 0.01% 378,774 $6.4M Add +14.2%
TTAM Titan America SA 0.01% 384,072 $6.3M Add +8.0%
ETD Ethan Allen Interiors Inc. 0.01% 270,592 $6.2M Add +9.3%
LXFR Luxfer Holdings PLC 0.01% 453,056 $6.1M Add +3.4%
FLYW Flywire Corp.-Voting 0.01% 430,337 $6.1M Add +60.6%
SKT Tanger Inc. 0.01% 179,769 $6.0M Add +3.9%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.01% 134,500 $5.9M Reduce -5.5%
JOUT Johnson Outdoors Inc. Class A 0.01% 138,888 $5.9M Reduce -0.6%
FVR Frontview REIT Inc. 0.01% 399,126 $5.9M Add +1230.4%
MRVI Maravai Lifesciences Hldgs-A 0.01% 1,799,336 $5.8M Add +299.0%
COHU Cohu Inc. 0.01% 247,646 $5.8M Reduce -0.2%
LOCO El Pollo Loco Holdings Inc. 0.01% 547,793 $5.7M Reduce -26.1%
NTCT Netscout Systems Inc. 0.01% 211,502 $5.7M Add +1.1%
FLS Flowserve Corp. 0.01% 82,054 $5.7M New
SMBK Smartfinancial Inc. 0.01% 152,167 $5.6M Add +375.5%
METCB Ramaco Resources Inc. Class B 0.01% 467,126 $5.5M Add +52.7%
PGNY Progyny Inc. 0.01% 212,612 $5.5M Add +40.1%
PXED Phoenix Education Partners I 0.01% 180,149 $5.5M New
MC Moelis & Co. Class A 0.01% 79,301 $5.5M Reduce -0.7%
AMBQ Ambiq Micro Inc. 0.01% 189,723 $5.4M Add +222.1%
REPX Riley Exploration Permian Inc. 0.01% 197,148 $5.2M Reduce -5.1%
LYTS Lsi Industries Inc. 0.01% 283,422 $5.2M Reduce -2.4%
XRX Xerox Holdings Corp. 0.01% 2,182,500 $5.2M Add +89.4%
NVST Envista Holdings Corp. 0.01% 235,000 $5.1M Add +10.6%
AIR Aar Corp. 0.01% 61,619 $5.1M Add +22.5%
THRY Thryv Holdings Inc. 0.01% 842,943 $5.1M Reduce -0.4%
CENTA Central Garden and Pet Co. Class A 0.01% 174,438 $5.1M New
NCMI National Cinemedia Inc. 0.01% 1,255,322 $4.9M Reduce -0.4%
KODK Eastman Kodak Co. 0.01% 575,738 $4.9M Reduce -21.6%
SMWB Similarweb Ltd. 0.01% 645,647 $4.8M Add +18.5%
TWI Titan International Inc. 0.01% 614,751 $4.8M Reduce -1.2%
MGNI Magnite Inc. 0.01% 296,443 $4.8M Reduce -48.5%
EMBC Embecta Corp. 0.01% 391,594 $4.7M Reduce -1.3%
PUMP Propetro Holding Corp. 0.01% 487,333 $4.6M Add +7.5%
ATRC Atricure Inc. 0.01% 116,609 $4.6M New
NTGR Netgear Inc. 0.01% 186,777 $4.6M Add +24.2%
CTOS Custom Truck One Source Inc. 0.01% 777,936 $4.5M Add +0.5%
INSG Inseego Corp. 0.01% 435,849 $4.5M Add +209.4%
QXO Qxo Inc. 0.01% 227,684 $4.4M Add +14.1%
SONO Sonos Inc. 0.01% 246,406 $4.3M New
STRW Strawberry Fields REIT Inc. 0.01% 325,589 $4.3M Add +8.4%
AVBH Avidbank Holdings Inc. 0.01% 153,500 $4.1M Add +80.6%
HOFT Hooker Furnishings Corp. 0.01% 359,350 $4.1M Reduce -1.5%
AEBI Aebi Schmidt Holding AG 0.01% 306,389 $3.9M Add +4.0%
ALGT Allegiant Travel Co. 0.01% 45,343 $3.9M New
VMD Viemed Healthcare Inc. 0.01% 518,157 $3.8M Add +8.4%
DOUG Douglas Elliman Inc. 0.01% 1,615,871 $3.8M Reduce -0.6%
COLB Columbia Banking System Inc. 0.01% 136,500 $3.8M Add +241.3%
TILE Interface Inc. 0.01% 132,043 $3.7M Reduce -4.0%
BBCP Concrete Pumping Holdings Inc. 0.01% 539,689 $3.6M Add +11.3%
QNST Quinstreet Inc. 0.01% 249,874 $3.6M Reduce -45.8%
TMCI Treace Medical Concepts Inc. 0.01% 1,462,983 $3.6M Add +18.1%
VSEC Vse Corp. 0.01% 20,522 $3.5M Reduce -26.1%
RRBI Red River Bancshares Inc. 0.01% 49,396 $3.5M New
ALTG Alta Equipment Group Inc. 0.01% 764,591 $3.5M Reduce -2.3%
HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I 0.01% 559,858 $3.5M Add +5.8%
ANGO Angiodynamics Inc. 0.01% 267,735 $3.4M Reduce -3.5%
QTRX Quanterix Corp. 0.01% 531,427 $3.4M New
ONEW Onewater Marine Inc. Class A 0.01% 308,487 $3.3M Add +11.3%
MASS 908 Devices Inc. 0.01% 623,883 $3.3M Add +3.3%
KMPR Kemper Corp. 0.01% 80,203 $3.3M New
POWW Outdoor Holding Co. 0.01% 1,901,370 $3.3M Reduce -0.8%
ACCO Acco Brands Corp. 0.01% 862,369 $3.2M Reduce -0.3%
RLGT Radiant Logistics Inc. 0.01% 501,301 $3.2M Reduce -2.0%
NPKI NPK International Inc. 0.01% 265,321 $3.2M Reduce -2.5%
MTN Vail Resorts Inc. 0.01% 23,769 $3.2M No change
MAC The Macerich Co. 0.01% 170,610 $3.1M Add +1.1%
DNOW Dnow Inc. 0.01% 232,530 $3.1M Reduce -0.4%
ASPS Altisource Portfolio Sol 0.01% 435,686 $3.0M Reduce -0.4%
ASIX Advansix Inc. 0.01% 175,024 $3.0M Reduce -21.2%
CYRX Cryoport Inc. 0.01% 312,061 $3.0M New
CIA Citizens Inc. 0.01% 587,750 $2.8M Reduce -0.2%
CLAR Clarus Corp. 0.01% 843,475 $2.8M Reduce -1.4%
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP 0.00% 43,522 $2.8M Reduce -36.3%
INTT Intest Corp. 0.00% 372,702 $2.8M Reduce -28.0%
LAW CS Disco Inc. 0.00% 328,719 $2.6M Add +100.6%
SVCO Silvaco Group Inc. 0.00% 627,211 $2.5M Reduce -19.1%
RBBN Ribbon Communications Inc. 0.00% 862,528 $2.5M Reduce -16.6%
CMCO Columbus McKinnon Corp. 0.00% 142,918 $2.5M New
PROF Profound Medical Corp. 0.00% 312,707 $2.5M Add +7.3%
GD General Dynamics Corp. 0.00% 7,297 $2.5M No change
SANM Sanmina Corp. 0.00% 15,377 $2.3M Reduce -67.1%
SBUX Starbucks Corp. 0.00% 25,625 $2.2M Reduce -0.6%
NATR Natures Sunshine Prods Inc. 0.00% 98,800 $2.1M Reduce -17.7%
PACK Ranpak Holdings Corp. 0.00% 390,010 $2.1M Add +113.4%
FUBO Fubotv Inc. 0.00% 803,533 $2.0M New
HLLY Holley Inc. 0.00% 475,797 $2.0M Reduce -2.0%
FOSL Fossil Group Inc. 0.00% 495,000 $1.9M Reduce -22.8%
AIRG Airgain Inc. 0.00% 450,765 $1.8M Reduce -10.9%
RES RPC Inc. 0.00% 327,149 $1.8M Reduce -2.1%
ASPN Aspen Aerogels Inc. 0.00% 622,487 $1.8M Add +20.3%
SDRL Seadrill Limited 0.00% 48,100 $1.7M Reduce -2.0%
KVHI KVH Industries Inc. 0.00% 210,826 $1.5M Reduce -0.5%
CAH Cardinal Health Inc. 0.00% 7,029 $1.4M Reduce -10.2%
CLW Clearwater Paper Corp. 0.00% 82,609 $1.4M Reduce -60.1%
EVR Evercore Inc. Class A 0.00% 4,101 $1.4M Add +0.3%
FEOE First Eagle Overseas Eq ETF 0.00% 27,780 $1.3M No change
THC Tenet Healthcare Corp. 0.00% 6,433 $1.3M Reduce -14.6%
FEGE First Eagle GL Equity ETF 0.00% 27,635 $1.3M No change
CRNT Ceragon Networks Ltd. 0.00% 592,690 $1.2M Add +0.5%
RKT Rocket Cos Inc. Class A 0.00% 61,720 $1.2M Add +7.0%
FLEX Flex Ltd. 0.00% 19,512 $1.2M Add +0.3%
COHR Coherent Corp. 0.00% 6,221 $1.1M Reduce -29.3%
NVT Nvent Electric PLC 0.00% 10,537 $1.1M Reduce -0.6%
ONTO Onto Innovation Inc. 0.00% 6,675 $1.1M Add +167.0%
EXE Expand Energy Corp. 0.00% 9,109 $1.0M Add +1.5%
MG Mistras Group Inc. 0.00% 77,219 $977K New
PWR Quanta Services Inc. 0.00% 2,218 $936K Reduce -15.3%
CIGI Colliers Intl GR-Subord Vot 0.00% 6,234 $916K Add +82.9%
CW Curtiss-Wright Corp. 0.00% 1,656 $913K Reduce -5.7%
TIC Tic Solutions Inc. 0.00% 90,000 $910K Reduce -67.2%
SND Smart Sand Inc. 0.00% 225,476 $902K Reduce -21.3%
SN Sharkninja Inc. 0.00% 8,034 $899K Add +14.8%
CLH Clean Harbors Inc. 0.00% 3,816 $895K New
ENTG Entegris Inc. 0.00% 10,543 $888K Add +91.7%
DAL Delta Air Lines Inc. 0.00% 12,694 $881K No change
TXRH Texas Roadhouse Inc. 0.00% 5,238 $870K Add +6.6%
UEIC Universal Electronics Inc. 0.00% 240,148 $867K Add +44.3%
TRVG Trivago NV - ADR 0.00% 293,444 $851K Add +75.1%
HLI Houlihan Lokey Inc. 0.00% 4,524 $788K Add +7.7%
DSX Diana Shipping Inc. 0.00% 466,583 $775K New
WMS Advanced Drainage Systems Inc. 0.00% 5,326 $771K Add +29.9%
PFGC Performance Food Group Co. 0.00% 8,400 $755K No change
KD Kyndryl Holdings Inc. 0.00% 26,200 $696K Add +11.0%
ACN Accenture PLC Class A 0.00% 2,559 $687K Reduce -0.5%
DGX Quest Diagnostics Inc. 0.00% 3,935 $683K Add +2.6%
SARO Standardaero Inc. 0.00% 23,500 $674K New
ROKU Roku Inc. 0.00% 6,000 $651K Reduce -3.2%
JHX James Hardie Ind PLC 0.00% 29,676 $616K Add +50.8%
GNRC Generac Holdings Inc. 0.00% 4,500 $614K Reduce -14.0%
CBZ Cbiz Inc. 0.00% 11,908 $601K Add +267.9%
RHP Ryman Hospitality Properties 0.00% 6,340 $600K Add +126.4%
WD Walker & Dunlop Inc. 0.00% 9,792 $589K Add +216.7%
EXEL Exelixis Inc. 0.00% 12,571 $551K Reduce -22.7%
PR Permian Resources Corp. Class A 0.00% 36,643 $514K Reduce -90.9%
XPO Xpo Inc. 0.00% 3,711 $504K Reduce -4.5%
FTAI Ftai Aviation Ltd. 0.00% 2,519 $496K New
CASY Casey's General Stores Inc. 0.00% 893 $494K Reduce -10.1%
LII Lennox International Inc. 0.00% 977 $474K No change
ARMK Aramark 0.00% 12,485 $460K No change
LUV Southwest Airlines Co. 0.00% 10,000 $413K Add +150.0%
TOL Toll Brothers Inc. 0.00% 2,891 $391K Reduce -6.5%
CRH CRH PLC 0.00% 3,042 $381K Reduce -18.6%
RJF Raymond James Financial Inc. 0.00% 2,367 $380K Add +1.0%
KLTR Kaltura Inc. 0.00% 221,795 $364K New
TRMB Trimble Inc. 0.00% 4,503 $353K No change
UGI Ugi Corp. 0.00% 8,681 $325K No change
BSM Black Stone Minerals LP 0.00% 22,260 $296K No change
DCI Donaldson Co. Inc. 0.00% 3,200 $284K No change
D Dominion Energy Inc. 0.00% 4,622 $271K No change
EQIX Equinix Inc. 0.00% 353 $270K Reduce -17.7%
PHM Pultegroup Inc. 0.00% 2,259 $265K Reduce -22.5%
IAU iShares Gold Trust 0.00% 3,121 $253K No change
RS Reliance Inc. 0.00% 799 $231K No change
ENSG The Ensign Group Inc. 0.00% 1,247 $217K Add +1.8%
DINO HF Sinclair Corp. 0.00% 4,591 $212K Add +2.2%
TAC Transalta Corp. 0.00% 15,474 $196K No change
WMB Williams Cos Inc. 0.00% 3,215 $193K No change
CP Canadian Pacific Kansas City 0.00% 2,516 $185K Add +2.1%
CNI Canadian Natl Railway Co. 0.00% 1,780 $176K No change
EGP Eastgroup Properties Inc. 0.00% 838 $149K No change
RPM RPM International Inc. 0.00% 1,315 $137K No change
AWK American Water Works Co. Inc. 0.00% 458 $60K No change
GEHC GE Healthcare Technology 0.00% 51 $4K New
URI United Rentals Inc. 0.00% 5 $4K New
JLL Jones Lang Lasalle Inc. 0.00% 12 $4K New
LOPE Grand Canyon Education Inc. 0.00% 24 $4K New
MKTX Marketaxess Holdings Inc. 0.00% 22 $4K New
SE Sea Ltd.-ADR 0.00% 31 $4K New
APD Air Products & Chemicals Inc. 0.00% 16 $4K New
ECL Ecolab Inc. 0.00% 15 $4K New
WLK Westlake Corp. 0.00% 53 $4K New
CFG Citizens Financial Group 0.00% 67 $4K New
TRGP Targa Resources Corp. 0.00% 21 $4K New
RGA Reinsurance Group of America 0.00% 19 $4K New
WCN Waste Connections Inc. 0.00% 22 $4K New
DASH DoorDash Inc. Class A 0.00% 17 $4K New
DXCM Dexcom Inc. 0.00% 58 $4K New
MSA Msa Safety Inc. 0.00% 24 $4K New
CNS Cohen & Steers Inc. 0.00% 61 $4K New
STE Steris PLC 0.00% 15 $4K New
WPC WP Carey Inc. 0.00% 59 $4K New
ODFL Old Dominion Freight Line 0.00% 24 $4K New
GPC Genuine Parts Co. 0.00% 30 $4K New
RRX Regal Rexnord Corp. 0.00% 26 $4K New
MASI Masimo Corp. 0.00% 28 $4K New
VFC VF Corp. 0.00% 201 $4K New
DHI D.R. Horton Inc. 0.00% 25 $4K New
TDY Teledyne Technologies Inc. 0.00% 7 $4K New
LPLA LPL Financial Holdings Inc. 0.00% 10 $4K New

Options reported separately and not counted above: TLT puts ($0).

Other holdings (4): bonds, preferreds, convertibles and warrants · $68.3M (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 29,641$37.1MAdd +20.8%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 25,741$31.2MAdd +24.4%
ASPSW Altisource Portfolio - 30 *W EXP 04/30/203 2,834$1KNo change
ASPSZ Altisource Portfolio - 29C *W EXP 04/02/202 2,834$935No 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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 420$60.7BGOOG, BDX, META, TSM, FMX
Q1 2026Amended 416$58.9BGOOG, BDX, WPM, IMO, META
Q4 2025 418$56.8BGOOG, BDX, META, WPM, TSM
Q3 2025 400$54.9BORCL, META, WPM, TSM, BDX
Q2 2025 389$49.9BMETA, ORCL, IMO, WPM, HCA
Q1 2025 408$47.4BMETA, ORCL, HCA, IMO, WTW
Q4 2024 420$44.6BMETA, ORCL, WTW, HCA, IMO
Q3 2024 391$48.5BORCL, META, HCA, XOM, IMO
Q2 2024 395$44.1BORCL, META, XOM, IMO, HCA
Q1 2024 401$44.0BORCL, META, IMO, XOM, HCA