First Eagle’s Q4 2025 High‑Conviction New Buys

This bar chart highlights First Eagle’s most aggressive capital deployments of the quarter, led by a surprising $260.5M position in The Magnum Ice Cream Company — a consumer‑brand bet that dwarfs all other new buys. Smaller but meaningful allocations follow across Unilever, F&G Annuities, Eagle Materials, and a mix of industrial and specialty‑service names.

🧠 Takeaway:

First Eagle is leaning into defensible cash‑flow businesses while selectively adding niche operators with stable demand and pricing power.

📊 Analysis:

• Consumer strength: Magnum and Unilever dominate the list, signaling confidence in global staples and brand durability
• Insurance & annuities: The F&G position reflects a tilt toward steady, yield‑driven financials
• Industrial precision: Eagle Materials, Flowserve, and Transcat show interest in infrastructure and maintenance‑driven revenue
• Digital & remittance exposure: Remitly adds a modern payments angle to an otherwise traditional lineup
• Balanced conviction: A mix of large flagship bets and smaller exploratory positions suggests a barbell approach to risk