First Eagle Investment Management
First Eagle Investment Management, an asset manager overseeing $56.82B in disclosed equity holdings (SEC CIK 0001325447). The latest portfolio (2025Q4) discloses 422 positions across 11 sectors, with the largest positions in GOOG, BDX and META. On a mark-to-market basis the tracked portfolio has returned 37.9% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.
What First is holding in options
First Eagle Investment Management disclosed 2 option positions for the 2023Q1 quarter — 1 long-call and 1 long-put — totaling $69.3M of underlying-share notional value. The largest exposures are a put on SPY, a call on EEM. Notional values reflect the value of the underlying shares at the quarter-end snapshot, not the option premium paid.
Options & derivatives
2 positions · $69.3M notional1 CALL · $7.9M1 PUT · $61.4M| Type | Underlying | Shares | Notional | % of book |
|---|---|---|---|---|
| PUT | SPYSPDR S&P 500 ETF TR | 150K | $61.4M | 0.2% |
| CALL | EEMISHARES TR | 200K | $7.9M | 0.0% |
Notional = value of the underlying shares at the quarter-end snapshot, not the option premium paid. A long PUT is a bearish bet on the underlying; a long CALL is a bullish bet. The reported value is included in the portfolio total but does not reflect actual capital at risk.