First Eagle Investment Management, LLC

New 13F: Q3 2026

First Eagle Investment Management, LLC filed its 13F for the quarter ended Sep 30, 2026 on Nov 10, 2026: $11.6B in AI and semiconductor stocks; $287.0M bought and $269.0M sold against its previous quarter, at the quarter's prices.

First Eagle Investment Management, LLC declares $10.8B in 39 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 17.8% of its $60.8B 13F portfolio. Largest positions: Alphabet (0.06% of the company) and Meta Platforms (0.13% of the company). Over time: $10.8B in 39 of these companies for Q2 2026, against $5.4B in 13 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $523.5M and sold $1.8B of these stocks, at the quarter's prices: a net sale of $1.3B; 3 new positions and 2 sold out.

Performance of its AI picks

The AI-stock portfolio First Eagle Investment Management, LLC declared for Q2 2026 (Form 13F), held unchanged, returned +6.7% in Q3 2026 (SMH -7.1%), ranked 347 of 1,785 active managers. Over the last 12 months, quarter after quarter: +19.3% (SMH +87.2%), ranked 1194 of 1,360 active managers. Over three years, quarter after quarter: +146.7% (SMH +325.8%), ranked 394 of 784 active managers. Over five years, quarter after quarter: +153.5% (SMH +389.8%), ranked 301 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

  1. Alphabet (GOOGL): $2.8B, 7.8M shares, 0.06% of the company, 4.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  2. Meta Platforms (META): $1.8B, 3.2M shares, 0.13% of the company, 3.0% of its portfolio (added this quarter); held since Q4 2019 or earlier
  3. TSMC (TSM): $1.8B, 3.7M shares, 0.07% of the company, 2.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  4. Oracle (ORCL): $1.2B, 8.5M shares, 0.28% of the company, 2.1% of its portfolio (added this quarter); held since Q4 2019 or earlier
  5. Salesforce (CRM): $1.1B, 7.3M shares, 0.89% of the company, 1.9% of its portfolio (added this quarter); held since Q2 2020
  6. Microsoft (MSFT): $723.7M, 1.9M shares, 0.03% of the company, 1.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
  7. IPG Photonics (IPGP): $391.7M, 3.3M shares, 7.9% of the company, 0.64% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  8. Cummins (CMI): $382.9M, 536,868 shares, 0.39% of the company, 0.63% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  9. Ultra Clean (UCTT): $49.6M, 347,930 shares, 0.73% of the company, 0.08% of its portfolio (trimmed this quarter); held since Q2 2021
  10. Vishay (VSH): $43.9M, 816,213 shares, 0.53% of the company, 0.07% of its portfolio (trimmed this quarter); held since Q4 2024
  11. Silicon Motion (SIMO): $41.9M, 125,737 shares, 0.37% of the company, 0.07% of its portfolio (trimmed this quarter); held since Q2 2025
  12. Cohu (COHU): $40.5M, 548,533 shares, 1.2% of the company, 0.07% of its portfolio (added this quarter); held since Q2 2025
  13. Veeco (VECO): $35.2M, 463,853 shares, 0.76% of the company, 0.06% of its portfolio (added this quarter); held since Q2 2021
  14. Benchmark Electronics (BHE): $34.6M, 350,964 shares, 0.98% of the company, 0.06% of its portfolio (added this quarter); held since Q2 2023
  15. Advanced Energy Industries (AEIS): $34.1M, 91,535 shares, 0.23% of the company, 0.06% of its portfolio (added this quarter); held since Q2 2021

By sector

Biggest changes this quarter

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