Jean-Marie Eveillard - First Eagle U.S. Value 13F Activity & Position Changes (Q2 2025)

As of Jun 30, 2025, the First Eagle U.S. Value portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 06, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys - Axcelis Technologies, Inc., AxoGen, Inc., Barnes Group, Inc., Ciena Corporation, Cohu, Inc., and 16 more

Increases - Acco Brands Corporation, Advanced Energy Industries, Inc, Alta Equipment Group Inc., Ameresco, Inc., American Woodmark Corporation, and 148 more

Reductions - Ameris Bancorp, Ambev S.A., Arcosa, Inc., Accenture plc, Analog Devices, Inc., and 197 more

Complete Exits - Amkor Technology, Inc., Air Transport Services Group, I, Avantor, Inc., Azenta, Inc., Invesco Senior Loan ETF, and 34 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q2 2025	ABCB Ameris Bancorp	Ameris Bancorp	Sell	-1,225	-0.7%	$11.75M	181,558
Q2 2025	ABEV Ambev S.A.	Ambev S.A.	Sell	-2,915,276	-0.9%	$816.18M	338,661,869
Q2 2025	ACA Arcosa, Inc.	Arcosa, Inc.	Sell	-3,000	-2.2%	$11.31M	130,480
Q2 2025	ACCO Acco Brands Corporation	Acco Brands Corporation	Buy	+144,005	+20.0%	$3.09M	863,769
Q2 2025	ACLS Axcelis Technologies, Inc.	Axcelis Technologies, Inc.	Buy - Position Entry	+73,000	-	$5.09M	73,000
Q2 2025	ACN Accenture plc	Accenture plc	Sell	-31	-1.2%	$776.22K	2,597
Q2 2025	ADI Analog Devices, Inc.	Analog Devices, Inc.	Sell	-609,473	-21.4%	$534.32M	2,244,833
Q2 2025	ADTN ADTRAN Holdings, Inc.	ADTRAN Holdings, Inc.	Sell	-10,500	-0.9%	$10.17M	1,133,607
Q2 2025	AEIS Advanced Energy Industries, Inc	Advanced Energy Industries, Inc	Buy	+900	+0.8%	$15.88M	119,883
Q2 2025	AEM Agnico Eagle Mines Limited	Agnico Eagle Mines Limited	Sell	-1,263,684	-19.3%	$628.44M	5,271,369
Q2 2025	AGI Alamos Gold Inc.	Alamos Gold Inc.	Sell	-157,250	-2.5%	$166.11M	6,241,116
Q2 2025	AHCO AdaptHealth Corp.	AdaptHealth Corp.	Sell	-112,000	-13.3%	$6.88M	729,636
Q2 2025	AIR AAR Corp.	AAR Corp.	Sell	-86,845	-62.2%	$3.64M	52,870
Q2 2025	AIRG Airgain, Inc.	Airgain, Inc.	Sell	-36,984	-6.6%	$2.18M	522,230
Q2 2025	AL Air Lease Corporation	Air Lease Corporation	Sell	-22,610	-8.6%	$14.06M	240,377
Q2 2025	ALGN Align Technology, Inc.	Align Technology, Inc.	Sell	-325	-24.6%	$188.38K	995
Q2 2025	ALTG Alta Equipment Group Inc.	Alta Equipment Group Inc.	Buy	+110,444	+16.2%	$5.01M	792,103
Q2 2025	AMKR Amkor Technology, Inc.	Amkor Technology, Inc.	Sell - Position Exit	-424,500	-100.0%	$0.00	-
Q2 2025	AMRC Ameresco, Inc.	Ameresco, Inc.	Buy	+187,380	+33.1%	$11.45M	753,807
Q2 2025	AMWD American Woodmark Corporation	American Woodmark Corporation	Buy	+3,700	+2.9%	$7.06M	132,300
Q2 2025	ANGO AngioDynamics, Inc.	AngioDynamics, Inc.	Sell	-72,500	-19.2%	$3.03M	305,335
Q2 2025	AORT Artivion, Inc.	Artivion, Inc.	Sell	-18,200	-4.2%	$12.91M	415,015
Q2 2025	ARMK Aramark	Aramark	Sell	-107	-0.7%	$683.65K	16,328
Q2 2025	ASIX AdvanSix Inc.	AdvanSix Inc.	Sell	-3,300	-1.5%	$5.27M	222,024
Q2 2025	ASTE Astec Industries, Inc.	Astec Industries, Inc.	Sell	-8,600	-2.9%	$12.18M	292,050
Q2 2025	ASUR Asure Software Inc	Asure Software Inc	Sell	-87,574	-32.1%	$1.81M	185,046
Q2 2025	ASYS Amtech Systems, Inc.	Amtech Systems, Inc.	Sell	-41,540	-4.9%	$3.55M	800,382
Q2 2025	ATEC Alphatec Holdings, Inc.	Alphatec Holdings, Inc.	Sell	-2,000	-0.3%	$7.86M	708,437
Q2 2025	ATRO Astronics Corporation	Astronics Corporation	Sell	-55,100	-19.9%	$7.44M	222,326
Q2 2025	ATSG Air Transport Services Group, I	Air Transport Services Group, I	Sell - Position Exit	-184,747	-100.0%	$0.00	-

Page 1 of 14