FEXRX — First Eagle U.S. Smid Cap Opportunity Fund
Data updated: 2026-09-28
FEXRX — First Eagle U.S. Smid Cap Opportunity Fund. United States Mid Cap Value Equity · $106.78M AUM. Holdings, fees, performance and SEC filings.
FEXRX Fund Overview
FEXRX — First Eagle U.S. Smid Cap Opportunity Fund is a US mutual fund managed by First Eagle Funds, categorised as United States Mid 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 Mid Cap Value Equity
- Assets under management: $106.78M
- 1-year return: 33.2%
- Ticker: FEXRX
- SEC CIK: 0000906352
- SEC series ID: S000077255
- Share class ID: C000237508
FEXRX Investment Objective and Strategy
First Eagle U.S. Smid Cap Opportunity 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. Smid Cap Opportunity Fund (Smid Cap Fund or the Fund) seeks long-term growth of capital.
Principal investment strategy
The Fund invests, under normal circumstances, in equity securities of small-and mid-cap (smid cap) companies in an attempt to take advantage of what the Adviser believes are opportunistic situations for undervalued securities. Normally, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in the equity securities (e.g., common stocks, warrants, rights and preferred stocks) of U.S. smid cap companies. The Adviser defines smid cap companies as those that have at the time of investment a market capitalization not greater than that of the largest company in the Russell 2500 TM Index. The Russell 2500 TM Index is reconstituted annually. As of December 31, 2025, the market capitalization range of the companies included within the Russell 2500 TM Index was between $5 million and $31 billion.
Potential investments that the Adviser considers to be opportunistic may include situations involving company turnarounds (e.g., a company that may be experiencing periods of poor financial or stock performance but may be exhibiting potential for financial recovery), emerging growth companies with interrupted earnings patterns (e.g., companies without a long or consistent history of earnings but that the Adviser believes have the potential for earnings growth), companies with unrecognized asset values, or undervalued growth companies (e.g., companies that have low multiples of price-to book or price-to sales ratios, or companies with securities that are trading at a price below what the Adviser believes the security is worth). The Adviser also considers investments in companies that have the potential to benefit from a perceived catalyst for positive change, such as companies with new management, a more favorable business cycle, product innovation and/or margin improvement.
In certain market environments, the Fund may invest up to 10% of its net assets (plus any borrowings for investment purposes and measured at the time of investment) in foreign investments (including American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and European Depositary Receipts (EDRs)). The Fund may invest in other investment companies (e.g., exchange-traded funds) that invest in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what the Adviser deems to be more promising opportunities, and/or manage cash levels in the Funds portfolio. In managing the Funds assets, the Adviser uses various methods of analysis primarily rooted in drawing a view on the valuation of each security and a related evaluation of each company.
In selecting securities for the Fund, the Adviser generally evaluates the quality of a companys balance sheet and other measures of a companys financial condition and profitability, such as the history and/or potential for improvement in cash flow generation, internal rates of return, and sustainable earnings. The Adviser generally seeks to invest in equity securities of companies that are trading below the Advisers estimate of the companys current worth in an attempt to reduce the risk of overpaying for such securities. For more information about the Smid Cap Funds principal investment strategies, please see the More Information about the Funds Investments section.
FEXRX Holdings
Top 10 holdings of First Eagle U.S. Smid Cap Opportunity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| JPMorgan US Government Money Market Fund | 7.42% |
| Tenet Healthcare Corp. | 2.10% |
| Merit Medical Systems, Inc. | 1.91% |
| Teradata Corp. | 1.80% |
| CareDx, Inc. | 1.79% |
| Cheesecake Factory, Inc. (The) | 1.68% |
| Ameris Bancorp | 1.67% |
| Matador Resources Co. | 1.66% |
| Glacier Bancorp, Inc. | 1.64% |
| Quest Diagnostics, Inc. | 1.64% |
FEXRX Portfolio Allocation
Asset-class allocation of First Eagle U.S. Smid Cap Opportunity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 92.7% |
| Cash & Equivalents | 7.4% |
FEXRX Performance
Total returns for FEXRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 23.8% |
| 1 year | 33.2% |
| 3 years (annualised) | 15.6% |
FEXRX Risk Information
Risk metrics for FEXRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 20.2%
FEXRX Costs and Fees
FEXRX costs about $95 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.95%
- Gross expense ratio: 1.59%
- Portfolio turnover: 66%
- Brokerage commissions: 2.04 bps of average net assets (SEC N-CEN)
FEXRX Cashflows
Over the 12 months to 2026-07, First Eagle U.S. Smid Cap Opportunity Fund had net inflows of $47.40M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-07 | $20.07M |
| 2026-06 | $13.90M |
| 2026-05 | $1.69M |
| 2026-04 | $4.07M |
| 2026-03 | $1.63M |
| 2026-02 | $2.53M |
FEXRX Debt Constituents
No individual debt constituents are reported in First Eagle U.S. Smid Cap Opportunity Fund's latest SEC N-PORT filing.
FEXRX Prospectus and SEC Filings
Official First Eagle U.S. Smid Cap Opportunity 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 Mid 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.