FEVTX — First Eagle U.S. Value Fund
Data updated: 2026-09-28
FEVTX — First Eagle U.S. Value Fund. United States Multi-Cap / All-Cap Value Equity · $1.62B AUM. Holdings, fees, performance and SEC filings.
FEVTX Fund Overview
FEVTX — First Eagle U.S. Value Fund is a US mutual fund managed by First Eagle Funds, categorised as United States Multi-Cap / All-Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: First Eagle Funds
- Category: United States Multi-Cap / All-Cap Value Equity
- Assets under management: $1.62B
- Ticker: FEVTX
- SEC CIK: 0000906352
- SEC series ID: S000011213
- Share class ID: C000182926
FEVTX Investment Objective and Strategy
First Eagle U.S. Value Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by First Eagle Funds.
Investment objective
First Eagle U.S. Fund (U.S. Fund or the Fund) seeks long-term growth of capital by investing, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in domestic equity and debt securities.
Principal investment strategy
To achieve its objective of long-term capital growth, the U.S. Fund will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in domestic equity (e.g., common stocks) and debt instruments (e.g., notes and bonds) and may invest to a lesser extent in securities of non-U.S. issuers (including American Depositary Receipts, Global Depositary Receipts and European Depositary Receipts). In particular, the Fund seeks companies exhibiting financial strength and stability, strong management and fundamental value. Investment decisions for the Fund are made without regard to the capitalization (size) of the companies in which it invests. The Fund may invest in any size company, including large, medium and smaller companies. The debt instruments in which the Fund may invest include fixed income securities without regard to credit rating or time to maturity and short-term debt instruments.
The Fund may also invest in gold and other precious metals, and futures contracts related to precious metals. The Fund counts relevant derivative positions towards its 80% of assets allocation and, in doing so, values each position at the price at which it is held on the Funds books (generally market price, but anticipates valuing each such position for purposes of assessing compliance with this test at notional value). The investment philosophy and strategy of the U.S. Fund can be broadly characterized as a value approach, as it generally seeks a margin of safety in its investment purchases with the goal being to avoid permanent impairment of capital (as opposed to temporary losses in share value relating to shifting investor sentiment or other normal share price volatility). In particular, a discount to intrinsic value is sought even for the best of businesses, with a deeper discount demanded for companies that we view as under business model, balance sheet, management or other stresses.
Intrinsic value is based on our judgment of what a prudent and rational business buyer would pay in cash for all of the company in normal markets. See also Defensive Investment Strategies. The Fund makes some investments through a special purpose trading subsidiary (the Subsidiary) and may invest up to 25% of its total assets in the Subsidiary. The Subsidiary is a wholly-owned and controlled subsidiary of the Fund, organized under the laws of the Cayman Islands as an exempted company. Generally, the Subsidiary will invest in commodities and related instruments (primarily gold bullion and other precious metals and related futures contracts). For more information about the U.S. Funds principal investment strategies, please see the More Information about the Funds Investments section.
FEVTX Holdings
Top 10 holdings of First Eagle U.S. Value Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Gold bullion | 10.49% |
| Alphabet, Inc. | 4.01% |
| Becton Dickinson & Co. | 3.65% |
| Meta Platforms, Inc. | 3.07% |
| Bank of New York Mellon Corp. (The) | 3.02% |
| Elevance Health, Inc. | 2.83% |
| HCA Healthcare, Inc. | 2.66% |
| Philip Morris International, Inc. | 2.53% |
| Salesforce, Inc. | 2.11% |
| Oracle Corp. | 2.10% |
FEVTX Portfolio Allocation
Asset-class allocation of First Eagle U.S. Value Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 76.6% |
| Other | 12.3% |
| Cash & Equivalents | 8.8% |
| Fixed Income | 2.4% |
FEVTX Performance
Total returns for FEVTX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -26.6% |
| 1 year | -35.9% |
| 3 years (annualised) | -37.9% |
| 5 years (annualised) | -40.2% |
FEVTX Risk Information
Risk metrics for FEVTX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 11.8%
FEVTX Costs and Fees
FEVTX costs about $106 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.06%
- Gross expense ratio: 1.11%
- Portfolio turnover: 17%
- Brokerage commissions: 1.09 bps of average net assets (SEC N-CEN)
FEVTX Cashflows
Over the 12 months to 2026-07, First Eagle U.S. Value Fund had net inflows of $26.48M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-07 | −$24.01M |
| 2026-06 | −$8.34M |
| 2026-05 | −$7.07M |
| 2026-04 | −$7.00M |
| 2026-03 | −$1.74M |
| 2026-02 | −$5.46M |
FEVTX Debt Constituents
Largest debt holdings of First Eagle U.S. Value Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States of America | 0.99% |
| Mexico Remittances Funding Fiduciary Estate Management Sarl | 0.37% |
| Strategy, Inc. | 0.29% |
| Enterprise Products Operating LLC | 0.17% |
| Enterprise Products Operating LLC | 0.16% |
| Embecta Corp. | 0.14% |
| Noble Finance II LLC | 0.14% |
| Roller Bearing Co. of America, Inc. | 0.09% |
| Transocean International Ltd. | 0.06% |
| Bausch & Lomb, Inc. | 0.04% |
FEVTX Prospectus and SEC Filings
Official First Eagle U.S. Value Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-02-26
- Prospectus (485BPOS) — filed 2024-02-26
- Prospectus supplement (497) — filed 2026-05-21
- Portfolio holdings (N-PORT) — filed 2026-09-28
- Portfolio holdings (N-PORT) — filed 2026-06-25
- Portfolio holdings (N-PORT) — filed 2026-03-27
- Annual census (N-CEN) — filed 2026-01-14
- Annual census (N-CEN) — filed 2025-01-14
Related Funds
Other United States Multi-Cap / All-Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.