Insight into First Eagle's Latest 13F Filing and Its Impact on Key Holdings
First Eagle Investment (Trades, Portfolio), with its rich heritage dating back to 1864, stands as a beacon of value-oriented investment philosophy. As an independent investment management firm, First Eagle is dedicated to preserving capital through absolute long-term performance, employing rigorous bottom-up fundamental analysis and on-site research to make informed investment decisions. This approach has guided their latest strategic moves in the second quarter of 2024, as revealed in their recent 13F filing.
New Additions to the Portfolio
During the second quarter of 2024, First Eagle Investment (Trades, Portfolio) expanded its portfolio by adding 19 new stocks. Noteworthy among these are:
- Arch Resources Inc (ARCH, Financial), acquiring 77,600 shares valued at $11.81 million, making up 0.03% of the portfolio.
- Cantaloupe Inc (CTLP, Financial), with 344,795 shares worth approximately $2.28 million, representing 0.01% of the portfolio.
- Forestar Group Inc (FOR, Financial), adding 206,069 shares valued at $6.59 million, also accounting for 0.01% of the portfolio.
Significant Increases in Existing Positions
First Eagle Investment (Trades, Portfolio) also significantly increased its stakes in several key stocks:
- UnitedHealth Group Inc (UNH, Financial) saw an addition of 372,701 shares, bringing the total to 411,381 shares. This adjustment, a 963.55% increase, impacted the portfolio by 0.43% with a total value of $209.5 million.
- Salesforce Inc (CRM, Financial) increased by 692,493 shares, resulting in a total of 2,624,665 shares, marking a 35.84% increase with a total value of $674.8 million.
Complete Exits from Certain Holdings
In the same quarter, First Eagle Investment (Trades, Portfolio) exited completely from 25 positions, including:
- Dine Brands Global Inc (DIN, Financial), selling all 260,032 shares, impacting the portfolio by -0.03%.
- Daseke Inc (DSKE, Financial), liquidating all 931,226 shares, with a -0.02% portfolio impact.
Reductions in Key Holdings
Adjustments were also made to reduce positions in several stocks:
- Taiwan Semiconductor Manufacturing Co Ltd (TSM, Financial) saw a reduction of 2,780,260 shares, a -30.69% decrease, impacting the portfolio by -0.86%. The stock traded at an average price of $151.69 during the quarter and has seen a return of 13.33% over the past three months and 63.30% year-to-date.
- Walmart Inc (WMT, Financial) was reduced by 5,281,681 shares, a -99.98% decrease, impacting the portfolio by -0.72%. The stock's average trading price was $62.97 during the quarter, with a 14.22% return over the past three months and 32.36% year-to-date.
Portfolio Overview and Sector Allocation
As of the second quarter of 2024, First Eagle Investment (Trades, Portfolio)'s portfolio comprised 398 stocks. The top holdings included 4.47% in Oracle Corp (ORCL, Financial), 4% in Meta Platforms Inc (META, Financial), and 3.39% in Exxon Mobil Corp (XOM, Financial). The investments are predominantly concentrated across 11 industries, reflecting a diverse and strategic allocation.
This detailed analysis of First Eagle Investment (Trades, Portfolio)'s 13F filing for Q2 2024 highlights their strategic adjustments and ongoing commitment to a value-oriented investment approach, providing valuable insights for current and potential investors.
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.
