Insight into First Eagle's Latest Strategic Portfolio Adjustments

First Eagle Investment (Trades, Portfolio), with its rich heritage dating back to 1864, is a distinguished independent investment management firm. Renowned for its value-oriented approach, First Eagle focuses on long-term performance and capital preservation, utilizing rigorous bottom-up fundamental analysis and on-site research to make informed investment decisions. This strategy emphasizes buying securities whose intrinsic value and long-term potential outweigh market risks.

• Warning! GuruFocus has detected 10 Warning Signs with ORCL.

Summary of New Buys

During the third quarter of 2024, First Eagle Investment (Trades, Portfolio) expanded its portfolio by adding 29 new stocks. Noteworthy new acquisitions include:

• Ameresco Inc (NYSE:AMRC), purchasing 224,360 shares valued at $8.51 million, making up 0.02% of the portfolio.
• Summit Materials Inc (NYSE:SUM), with 191,427 shares worth approximately $7.47 million, also representing 0.02% of the portfolio.
• American Woodmark Corp (NASDAQ:AMWD), acquiring 26,300 shares, valued at $2.46 million, accounting for 0.01% of the portfolio.

Key Position Increases

First Eagle Investment (Trades, Portfolio) significantly increased its holdings in several stocks, with the most notable being:

• Becton Dickinson & Co (NYSE:BDX), where an additional 564,888 shares were purchased, bringing the total to 3,368,143 shares. This adjustment increased the share count by 20.15% and had a 0.28% impact on the current portfolio, with a total value of $812.06 million.
• Noble Corp PLC (NYSE:NE), with an additional 3,241,551 shares, bringing the total to 5,843,681 shares. This represents a 124.57% increase in share count, with a total value of $211.19 million.

Summary of Sold Out Positions

First Eagle Investment (Trades, Portfolio) completely exited 33 holdings in the third quarter of 2024, including:

• Stericycle Inc (NASDAQ:SRCL), selling all 195,475 shares, impacting the portfolio by -0.03%.
• Allegiant Travel Co (NASDAQ:ALGT), liquidating all 144,013 shares, resulting in a -0.02% portfolio impact.

Key Position Reductions

Reductions were made in 125 stocks, with significant changes in:

• Wheaton Precious Metals Corp (NYSE:WPM), reduced by 1,759,298 shares, decreasing shares by 8.34% and impacting the portfolio by -0.21%. The stock traded at an average price of $59.48 during the quarter and has returned 4.98% over the past 3 months and 22.36% year-to-date.
• Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), reduced by 426,214 shares, a 6.79% reduction, impacting the portfolio by -0.17%. The stock traded at an average price of $170.4 during the quarter and has returned 13.98% over the past 3 months and 85.03% year-to-date.

Portfolio Overview

As of the third quarter of 2024, First Eagle Investment (Trades, Portfolio)'s portfolio included 393 stocks. The top holdings were 4.94% in Oracle Corp (NYSE:ORCL), 4.18% in Meta Platforms Inc (NASDAQ:META), 3.75% in HCA Healthcare Inc (NYSE:HCA), 3.17% in Exxon Mobil Corp (NYSE:XOM), and 3.14% in Imperial Oil Ltd (IMO). The holdings are predominantly concentrated across all 11 industries, including Technology, Healthcare, and Financial Services.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.