Niva WealthLet’s talk

First Eagle Investment Management

SEC-registered adviser since 1995New York, NYCRD 108260

$136.5B
AUM
44
Clients
See fees
Fee
46
Advisory staff

From Form ADV filed 3 August 2026 · data retrieved 15 October 2026SEC record

First Eagle Investment Management is an investment adviser headquartered in New York, New York, and registered with the SEC since 1995. Its clients include investment companies, pooled investment vehicles, and sovereign wealth funds and foreign official institutions.

Its services include portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. Fee arrangements include a percentage of assets under management and performance-based fees. First Eagle Holdings, Inc. owns 75% or more of First Eagle Investment Management, and Mehdi Mahmud is its CEO.

Clients

First Eagle Investment Management serves 44 clients, 19 of them investment companies. The average client has about $3.10 billion with the firm.

Regulatory assets by client type
  • Investment companies19 clients80%
  • Pooled investment vehicles16 clients13%
  • Sovereign wealth funds and foreign official institutions2 clients5%
  • OtherBusiness development companies, Pension and profit-sharing plans, State or municipal government entities, Insurance companies2%
Show client breakdown
Investment companies
Clients
19
Regulatory AUM
$109,765,162,463
Share
80.4%
Avg. per client
$5.78B
Business development companies
Clients
1
Regulatory AUM
$651,820,000
Share
0.5%
Avg. per client
$651.8M
Pooled investment vehicles
Clients
16
Regulatory AUM
$17,560,602,075
Share
12.9%
Avg. per client
$1.10B
Pension and profit-sharing plans
Clients
3
Regulatory AUM
$1,353,348,409
Share
1.0%
Avg. per client
$451.1M
State or municipal government entities
Clients
2
Regulatory AUM
$868,908,352
Share
0.6%
Avg. per client
$434.5M
Insurance companies
Clients
1
Regulatory AUM
$107,229,993
Share
0.1%
Avg. per client
$107.2M
Sovereign wealth funds and foreign official institutions
Clients
2
Regulatory AUM
$6,170,239,539
Share
4.5%
Avg. per client
$3.09B

Total

Clients
44
Regulatory AUM
$136,477,310,831
Share
100%
Avg. per client
$3.10B

What it does

First Eagle Investment Management provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. It is paid through a percentage of assets and performance-based fees.

First Eagle Investment Management advises 6 private funds.

100.0% of assets ($136.48B across 44 accounts) are managed with discretion. 25% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks88%
  • Funds5%
  • Bonds1%
  • Cash5%

Filed values cover 99%. The neutral 1% gap has no reported category.

Custodians

First Eagle Investment Management’s client accounts are held mainly at State Street, with 3% of managed assets, and The Bank of New York Mellon, with 3%. First Eagle Investment Management has custody of $3.57B for 6 clients.

Managed account assets by custodian
  • The Bank of New York MellonThe Bank of New York Mellon · New York, NY · $3.50B3%
  • State StreetState Street Corporation · Boston, MA · $4.09B3%
  • Northern TrustNorthern Trust Corporation · Chicago, IL · $910.3M1%
  • All other custodians$127.98B94%

Ownership and leadership

First Eagle Holdings, Inc. owns 75% or more of First Eagle Investment Management, and Mehdi Mahmud is its CEO.

Who owns the firm
First Eagle Investment Management, LLC· the adviser

  • First Eagle Holdings, Inc.

    Control person · since March 1987

    Owns 75% or more of First Eagle Investment Management, LLC

Leadership

  • Mehdi Mahmud
    President, Chief Executive Officer
  • Michael Constantino
    Chief Financial Officer
  • Heather Brilliant
    Chief Operating Officer
  • Seth Gelman
    Chief Compliance Officer
  • David O'Connor
    General Counsel

Staff

  • 392 employees
  • 46 in advisory functions
  • 148 broker-dealer reps
  • 1 soliciting firm

Reported holdings

First Eagle Investment Management’s reported 13F holdings total $120.67B across 425 positions, and the ten largest make up 28.8% of it.

$120.67B
Reported 13F value
425
Positions
28.8%
In the 10 largest
+104.5%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Alphabet Inc. · Cap Stk CL C4.3%
  2. Becton Dickinson & CO3.5%
  3. Meta Platforms Inc. · CL A3.0%
  4. Taiwan Semiconductor Manufac · Sponsored ADS3.0%
  5. Fomento Economico Mexicano S · Spon ADR Units2.8%
  6. Elevance Health Inc. Formerly2.7%
  7. Wheaton Precious Metals Corp.2.6%
  8. Imperial Oil Ltd2.5%
  9. Slb Limited · Com Stk2.2%
  10. Bank OF NY Mellon Corp.2.2%

Together, the ten largest are 28.8% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 5 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $120.67B is not its $136.48B in regulatory assets and does not represent any individual client's portfolio.

Fees

First Eagle Investment Management is paid through a percentage of assets under management and performance-based fees.

First Eagle Investment Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, First Eagle Investment Management has 6 offices (4 private residences, listed without an address), with 3 listed addresses across 3 states.

Listed office addresses by state

New York · 1 listed address

  • 1345 Avenue of the Americas, New YorkHQ

Other business names

First Eagle Investment Management has reported 2 other business names to the SEC.

  • First Eagle Investment Management, LLC
  • First Eagle Investments

Registration details

Legal name
First Eagle Investment Management, LLC
Headquarters
1345 Avenue of the Americas, New York, NY 10105-0048
Phone
212-698-3300
Website
www.firsteagle.com
SEC file
801-50659
Structure
Delaware LLC
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does First Eagle Investment Management have?

First Eagle Investment Management has 44 clients and manages $136.5 billion for them, as of August 2026. They include 19 investment companies, 16 pooled investment vehicles and 3 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 3 August 2026

What services does First Eagle Investment Management offer?

First Eagle Investment Management provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does First Eagle Investment Management use?

First Eagle Investment Management’s separately managed account assets are held at State Street Corporation (Boston, MA), with $4,091,992,340, The Bank of New York Mellon (New York, NY), with $3,497,469,632 and Northern Trust Corporation (Chicago, IL), with $910,264,321. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 August 2026

How many financial advisors does First Eagle Investment Management have?

First Eagle Investment Management has 0 investment adviser representatives registered with state securities authorities, out of 392 employees, and 46 perform investment advisory functions. 148 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does First Eagle Investment Management invest in?

At the end of its last fiscal year, First Eagle Investment Management’s separately managed accounts held 88% exchange-traded equities, 5% pooled vehicles (private funds and similar), 5% cash and equivalents and 1% state and local bonds. It advises 6 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns First Eagle Investment Management?

First Eagle Investment Management’s direct owner is First Eagle Holdings, Inc. (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 3 August 2026

How does First Eagle Investment Management get paid?

First Eagle Investment Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 3 August 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 108260.
  3. Form 13F-HR, filed 5 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

Download source data (JSON)How this directory is compiledReport a correction

This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with First Eagle Investment Management, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.