In its latest 13F filing for the third quarter of 2026, First Eagle Investment Management revealed a significant reduction in some of its top technology and healthcare holdings while initiating a notable new position in the energy sector. The firm, known for its value-oriented investment philosophy, decreased its stakes in Alphabet (GOOG), Becton Dickinson (BDX), Meta Platforms (META), Wheaton Precious Metals (WPM), and Taiwan Semiconductor Manufacturing Co. (TSM), though they all remain top holdings. The portfolio's total value was reported at $63.66 billion.
Among the most material changes was the establishment of a new position in Exxon Mobil (XOM), with the purchase of over 5 million shares, making it a 1.30% holding. The firm also added homebuilder NVR, Inc. (NVR) as a medium-strength new position. These additions align with a broader theme of focusing on real assets, as mentioned in recent company commentary.
Conversely, First Eagle exited its positions in C.H. Robinson Worldwide (CHRW), and several other companies including EXMOC and EXPD, all of which were classified as high-strength exits. The move to reduce exposure to some of its largest, long-held positions while adding a major energy name and exiting other significant holdings suggests a noteworthy portfolio repositioning during the quarter.