First Eagle Small Cap Opportunity Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, First Eagle Small Cap Opportunity Fund held 234 positions with $2.23B in net assets. Its ten largest holdings made up 14.8% of the fund. The FESRX share class costs 0.87% a year. Over the 12 months to May 2026, FESRX returned 50.3%, with dividends reinvested. In 2026 Q3 it added 41 new positions and exited 27.
First Eagle Small Cap Opportunity Fund (Small Cap Fund or the Fund) seeks long-term growth of capital.
The fund invests primarily in equity securities of small-cap and micro-cap companies that the adviser identifies as undervalued or opportunistic, including turnarounds, emerging growth companies with interrupted earnings, and securities trading below intrinsic value. The fund may also hold up to 10% in foreign securities and may invest in other investment companies. Because returns depend on the adviser's security selection and valuation judgments, performance will diverge from small-cap indices and may underperform if those judgments prove incorrect.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
JPMorgan US Government Money Market Fund | 5.37% | $119.66M | — | — |
SIMOSilicon Motion Technology Corp. | 1.20% | $26.79M | 122.4K | $218.78 |
1.15% | $25.55M | 881.8K | $28.97 | |
1.09% | $24.37M | 154.0K | $158.22 | |
1.09% | $24.34M | 311.5K | $78.15 | |
1.04% | $23.13M | 562.2K | $41.14 | |
1.02% | $22.70M | 1.6M | $14.36 | |
0.99% | $22.02M | 268.4K | $82.05 | |
0.95% | $21.07M | 54.9K | $383.91 | |
0.91% | $20.17M | 1.8M | $11.48 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
The 200 largest of 234 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 93.74% |
| Cash & short-term | 5.37% |
| Other | 0.57% |
By sector
- Industrials
- 20.8%
- Health Care
- 13.4%
- Information Technology
- 13.2%
- Financials
- 11.2%
- 10 other sectors
- 41.4%
- Industrials
- 20.8%
- Health Care
- 13.4%
- Information Technology
- 13.2%
- Financials
- 11.2%
- Consumer Discretionary
- 9.1%
- Materials
- 7.8%
- Cash
- 7.6%
- Energy
- 4.4%
- International
- 4.4%
- Consumer Staples
- 3.8%
- Real Estate
- 1.8%
- Communication Services
- 1.1%
- Utilities
- 0.7%
- Other
- 0.6%
How it has done
FESRX share class · total returns with dividends reinvested
Volatility over the last 12 months: 17.33%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 4 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.87% | +50.35% | +71.92% | +46.25% | -20.77% | |
| 1.24% | +49.97% | +70.28% | — | -20.85% | |
| 1.00% | +50.28% | +71.65% | +47.48% | -20.79% | |
| 2.00% | — | — | — | — |
Fees & fund details
First Eagle Small Cap Opportunity Fund is an actively managed U.S. equity fund. 18% of FESRX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 90% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.87% – 2.00%· FESRX 0.87%
- Portfolio turnover
- 47.31% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
41 new· the largest 8
27 exited· the largest 8
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
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