US Small Cap Separately Managed Account (SMA)

Inception Date Oct 01, 2025

Seeks long-term growth of capital
KEY DOCUMENTS & LITERATURE
Fact Sheet

Investment Philosophy

The team seeks to invest in small companies that have become disconnected from their normalized valuations and have an identifiable catalyst for improvement. The small cap strategy's opportunity set promotes the potential for an attractive risk/return tradeoff and positions the team to capture the evolution of quality businesses as they grow.

  • Opportunistic small cap value strategy

    investing in companies with inefficiently valued assets, turnarounds, accelerating growth and overlooked leaders

  • Targets companies with attractive valuations and future earnings growth potential from catalysts

    such as new management, a more favorable business cycle, product innovation, and/or margin improvement

  • High active share portfolio

    with opportunistic exposure to micro-cap stocks

KEY DOCUMENTS & LITERATURE
Fact Sheet

Portfolio Management

  • Suzanne Franks Headshot

    Suzanne Franks

    Associate Portfolio Manager and Senior Research Analyst
    Industry start:  
    2004
    Year joined:  
    2021
  • Bill Hench Headshot

    Bill Hench

    Head of Small Cap Team and Portfolio Manager
    Industry start:  
    1992
    Year joined:  
    2021
  • Adam Mielnik Headshot

    Adam Mielnik

    Associate Portfolio Manager and Senior Research Analyst
    Industry start:  
    2014
    Year joined:  
    2021

  1. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

  2. Disclosures

  3. First Eagle Separate Account Management, LLC (“FESAM”) relies on First Eagle Investment Management, LLC (“FEIM”) for numerous services and resources, and the investment teams of FESAM and FEIM work together to make investment decisions.

  4. This Portfolio is available only through a wrap fee or similar program sponsored by a third-party intermediary (“Sponsor”) that has engaged FESAM to manage certain of the Sponsor’s client accounts on a discretionary basis or to provide the Sponsor with recommendations in the form of model portfolio.

  5. Risk Disclosures

  6. The First Eagle U.S. Small Cap SMA Strategy (“Strategy”) is new and may not be successful under all future market conditions.

  7. All investments involve the risk of loss of principal.

  8. The value and liquidity of portfolio holdings may fluctuate in response to events specific to the companies or markets, as well as economic, political or social events in the United States or abroad. During periods of market volatility, the value of individual securities and other investments at times may decline significantly and rapidly. The securities of smaller sized companies can be more volatile in price than those of larger companies and may be more difficult or expensive to trade.

  9. A principal risk of investing in value stocks is that the price of the security may not approach its anticipated value or may decline in value. “Value” investments, as a category, or entire industries or sectors associated with such investments, may lose favor with investors as compared to those that are more “growth” oriented.

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