Jean-Marie Eveillard - First Eagle U.S. Value Investment Strategy & Portfolio Analysis
How First Eagle U.S. Value allocates capital, manages risk, and constructs its portfolio — based on SEC 13F filings.
As of Jun 30, 2026, Jean-Marie Eveillard's First Eagle U.S. Value portfolio reflects a index-style investor approach across 403 reported 13F positions. Portfolio returns are distributed across holdings, with the top five positions representing approximately 17% of total exposure. Across 403 reported holdings, economic exposure is broadly distributed across technology, basic materials, and healthcare without dominant single-name concentration. Exposure to high-growth and technology-oriented segments is moderate relative to peers, with performance weighted across basic materials, healthcare, and communication services. The portfolio exhibits extremely low turnover, reinforcing a patient, conviction-led investment approach. Distinctive traits include Long-Term Holder, Broadly Diversified, Economically Diversified.
Investment Style
Value, growth, quality, and behavioral classification from latest 13F holdings.
Primary type: Index-Style Investor
Traits: Long-Term Holder, Broadly Diversified, Economically Diversified, Structurally Diversified
Turnover profile
Moderate
Holding horizon
Long-Term
Portfolio Construction
Concentration and position sizing in the latest filing.
Portfolio construction is lowly concentrated: top three names represent 10.9% of assets, top five 16.7%, and the largest single position is 4.4%.
Top 3 weight
10.9%
Top 5 weight
16.7%
Top 10 weight
29.3%
Largest position
4.4%
Top holdings: Alphabet Inc., Becton, Dickinson and Company, Meta Platforms, Inc., Taiwan Semiconductor Manufactur, Fomento Economico Mexicano S.A. — view full holdings
Sector Preferences
Where capital is allocated by sector.
Capital is tilted toward Technology and Basic Materials, with 13 sectors represented in the latest filing.
Leading sectors: Technology, Basic Materials, Healthcare
Risk Framework
Concentration, diversification, and turnover tolerance.
This investor accepts low single-name risk (largest position 4.4%, top ten 29.3%) and high economic diversification (HHI 0.02). Turnover tolerance maps to a moderate profile.
Largest position
4.4%
Top 10 weight
29.3%
Max sector
15.0%
Diversification
High
Strategy Evolution
How the strategy changed between the two most recent filing periods.
Mar 31, 2026 → Jun 30, 2026
- Position count increased from 402 to 403 (+1 names).
- Dominant sector mix shifted from Basic Materials, Technology to Technology, Basic Materials.
- Quarter-over-quarter portfolio weight turnover: 11.9%.
For trade-level changes, see the Activity page. View activity.
Similar Investors
Peer group with comparable portfolio behavior.
Similar-investor comparisons are coming soon.