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← First Eagle Investment Management LLC, its record

First Eagle Investment Management LLC and MFS Investment Management: where the books meet

At Q2 2026, at least 12% of the two 13F books was the same, across 96 stocks both listed, against 19% at Q2 2013. Overlap is the smaller of each shared stock’s two weights, added up: the part of one book that could be swapped for the other’s without a trade.

Overlap by quarter
0%10%20%Q2 2013: 19%, 104 in bothQ3 2013: 19%, 115 in bothQ4 2013: 20%, 119 in bothQ1 2014: 18%, 114 in both14Q2 2014: 19%, 112 in bothQ3 2014: 18%, 117 in bothQ4 2014: 19%, 115 in bothQ1 2015: 19%, 117 in both15Q2 2015: 19%, 116 in bothQ3 2015: 20%, 113 in bothQ4 2015: 19%, 111 in bothQ1 2016: 19%, 118 in both16Q2 2016: 18%, 121 in bothQ3 2016: 18%, 127 in bothQ4 2016: 18%, 115 in bothQ1 2017: 17%, 111 in both17Q2 2017: 17%, 110 in bothQ3 2017: 18%, 118 in bothQ4 2017: 17%, 109 in bothQ1 2018: 16%, 43 in both18Q2 2018: 17%, 45 in bothQ3 2018: 18%, 49 in bothQ4 2018: 19%, 45 in bothQ1 2019: 20%, 46 in both19Q2 2019: 19%, 48 in bothQ3 2019: 20%, 51 in bothQ4 2019: 19%, 50 in bothQ1 2020: 18%, 47 in both20Q2 2020: 18%, 40 in bothQ3 2020: 18%, 46 in bothQ4 2020: 19%, 48 in bothQ1 2021: 19%, 48 in both21Q2 2021: 18%, 50 in bothQ3 2021: 18%, 49 in bothQ4 2021: 16%, 60 in bothQ1 2022: 15%, 70 in both22Q2 2022: 15%, 77 in bothQ3 2022: 13%, 78 in bothQ4 2022: 13%, 76 in bothQ1 2023: 14%, 79 in both23Q2 2023: 14%, 81 in bothQ3 2023: 14%, 87 in bothQ4 2023: 14%, 94 in bothQ1 2024: 14%, 88 in both24Q2 2024: 15%, 90 in bothQ3 2024: 14%, 86 in bothQ4 2024: 14%, 76 in bothQ1 2025: 13%, 73 in both25Q2 2025: 13%, 72 in bothQ3 2025: 14%, 79 in bothQ4 2025: 12%, 92 in bothQ1 2026: 13%, 96 in both26Q2 2026: 12%, 96 in both
  • Q2 2013: 19%, 104 in both
  • Q3 2013: 19%, 115 in both
  • Q4 2013: 20%, 119 in both
  • Q1 2014: 18%, 114 in both
  • Q2 2014: 19%, 112 in both
  • Q3 2014: 18%, 117 in both
  • Q4 2014: 19%, 115 in both
  • Q1 2015: 19%, 117 in both
  • Q2 2015: 19%, 116 in both
  • Q3 2015: 20%, 113 in both
  • Q4 2015: 19%, 111 in both
  • Q1 2016: 19%, 118 in both
  • Q2 2016: 18%, 121 in both
  • Q3 2016: 18%, 127 in both
  • Q4 2016: 18%, 115 in both
  • Q1 2017: 17%, 111 in both
  • Q2 2017: 17%, 110 in both
  • Q3 2017: 18%, 118 in both
  • Q4 2017: 17%, 109 in both
  • Q1 2018: 16%, 43 in both
  • Q2 2018: 17%, 45 in both
  • Q3 2018: 18%, 49 in both
  • Q4 2018: 19%, 45 in both
  • Q1 2019: 20%, 46 in both
  • Q2 2019: 19%, 48 in both
  • Q3 2019: 20%, 51 in both
  • Q4 2019: 19%, 50 in both
  • Q1 2020: 18%, 47 in both
  • Q2 2020: 18%, 40 in both
  • Q3 2020: 18%, 46 in both
  • Q4 2020: 19%, 48 in both
  • Q1 2021: 19%, 48 in both
  • Q2 2021: 18%, 50 in both
  • Q3 2021: 18%, 49 in both
  • Q4 2021: 16%, 60 in both
  • Q1 2022: 15%, 70 in both
  • Q2 2022: 15%, 77 in both
  • Q3 2022: 13%, 78 in both
  • Q4 2022: 13%, 76 in both
  • Q1 2023: 14%, 79 in both
  • Q2 2023: 14%, 81 in both
  • Q3 2023: 14%, 87 in both
  • Q4 2023: 14%, 94 in both
  • Q1 2024: 14%, 88 in both
  • Q2 2024: 15%, 90 in both
  • Q3 2024: 14%, 86 in both
  • Q4 2024: 14%, 76 in both
  • Q1 2025: 13%, 73 in both
  • Q2 2025: 13%, 72 in both
  • Q3 2025: 14%, 79 in both
  • Q4 2025: 12%, 92 in both
  • Q1 2026: 13%, 96 in both
  • Q2 2026: 12%, 96 in both

Only quarters both managers filed. Where either filing has more positions than are read each quarter, a stock both hold below that range is not counted, so the figure is a floor.

What the overlap is made of, Q2 2026

Stocks both listed, by the smaller of the two weights. A weight is the stock’s share of that manager’s reported book, which says how large the position is, not how strongly it is held.

StockFirst Eagle Investment Management LLCMFS Investment Management
Taiwan Semiconductor MFG LTD(TSM)2.9%Trimmed1.5%Trimmed
Microsoft Corp(MSFT)1.2%Added2.8%Trimmed
Medtronic PLC(MDT)1.8%Added0.8%Trimmed
Waters Corp(WAT)0.8%Trimmed0.8%Trimmed
Becton Dickinson & Co(BDX)3.4%Added0.8%Trimmed
Franco Nevada Corp(FNV)1.8%Trimmed0.8%Trimmed
Willis Towers Watson Pub LTD(WTW)1.9%Added0.7%Trimmed
Exxon Mobil Corp(XOM)1.4%Trimmed0.7%Trimmed
Facebook Inc(META)3.0%Added0.7%Trimmed
Agnico Eagle Mines LTD(AEM)1.3%Trimmed0.6%Added
Philip Morris Intl Inc(PM)1.8%Added0.5%Trimmed
American Express Co(AXP)0.9%Added0.5%Trimmed
Alphabet Inc(GOOGL)0.3%Trimmed3.3%Added
Anthem Inc(ELV)2.7%Added0.2%Trimmed
Wheaton Precious Metals Corp(WPM)2.6%Added0.2%Trimmed
Omnicom Group Inc(OMC)0.9%Added0.2%Trimmed
Salesforce Com Inc(CRM)1.9%Added0.2%Trimmed
Ferguson Enterprises Inc(FERG)0.3%Added0.2%Added
Colgate Palmolive Co(CL)1.2%Added0.1%Added
Alphabet Inc(GOOG)4.3%Trimmed0.1%Added

and 76 smaller ones

Moved different ways in Q2 2026

Stocks one manager started or added to while the other trimmed or sold out, between the same two quarter ends. A 13F shows the quarter ends, never when in between anything was bought or sold, or why.

  • Alphabet Inc(GOOGL)First Eagle Investment Management LLC trimmed; MFS Investment Management added
  • Microsoft Corp(MSFT)First Eagle Investment Management LLC added; MFS Investment Management trimmed
  • Medtronic PLC(MDT)First Eagle Investment Management LLC added; MFS Investment Management trimmed
  • Alphabet Inc(GOOG)First Eagle Investment Management LLC trimmed; MFS Investment Management added
  • Becton Dickinson & Co(BDX)First Eagle Investment Management LLC added; MFS Investment Management trimmed
  • Willis Towers Watson Pub LTD(WTW)First Eagle Investment Management LLC added; MFS Investment Management trimmed
  • Facebook Inc(META)First Eagle Investment Management LLC added; MFS Investment Management trimmed
  • Agnico Eagle Mines LTD(AEM)First Eagle Investment Management LLC trimmed; MFS Investment Management added
  • Anthem Inc(ELV)First Eagle Investment Management LLC added; MFS Investment Management trimmed
  • Wheaton Precious Metals Corp(WPM)First Eagle Investment Management LLC added; MFS Investment Management trimmed
  • Philip Morris Intl Inc(PM)First Eagle Investment Management LLC added; MFS Investment Management trimmed
  • American Express Co(AXP)First Eagle Investment Management LLC added; MFS Investment Management trimmed
First Eagle Investment Management LLC: the recordMFS Investment Management: the record

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