# First Eagle Separate Account Management, LLC

> First Eagle Separate Account Management, LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2019, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated July 30, 2026.

- CRD: 300359
- Filed as: FIRST EAGLE SEPARATE ACCOUNT MANAGEMENT, LLC
- Also doing business as: FIRST EAGLE INVESTMENTS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: July 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/300359
- AdvisorCensus page: https://advisorcensus.com/firm/first-eagle-separate-account-management-llc-new-york-ny-300359

## Quick answers

**How is First Eagle Separate Account Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), First Eagle Separate Account Management, LLC reports these compensation arrangements: a percentage of assets under its management.

**Where is First Eagle Separate Account Management, LLC located?**
First Eagle Separate Account Management, LLC's principal office is in New York, NY, according to its Form ADV; the August 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is First Eagle Separate Account Management, LLC registered with the SEC or a state?**
First Eagle Separate Account Management, LLC is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 300359.

**How much does First Eagle Separate Account Management, LLC manage?**
First Eagle Separate Account Management, LLC reports $907,634,669 in regulatory assets under management in its Form ADV filing dated July 30, 2026 (100% discretionary).

**How have First Eagle Separate Account Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for First Eagle Separate Account Management, LLC: Regulatory assets under management: $1,011,086 in the October 2021 data and $907,634,669 in the October 2026 data, up 89668%. Total employees: 10 in October 2021 and 46 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does First Eagle Separate Account Management, LLC serve?**
By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (848); other (624); individuals (other than high net worth individuals) (204).

**Which custodians does First Eagle Separate Account Management, LLC use?**
First Eagle Separate Account Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists UBS Financial Services Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does First Eagle Separate Account Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/300359

**What changed in First Eagle Separate Account Management, LLC's recent Form ADV filings?**
In the August 2026 filing data: Changed its office addresses in Campbell, CA.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- UBS Financial Services Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $907,634,669
- Discretionary: $907,634,669
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 204 | $78,021,356 |
| High net worth individuals | 11 | $70,274,724 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 848 | $234,202,948 |
| Charitable organizations | 31 | $72,895,087 |
| Corporations or other businesses not listed above | 103 | $120,973,649 |
| Other | 624 | $331,266,905 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2019 (7 years)
- Employees: 46 total, 40 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Campbell, CA
- Chicago, IL

### Websites listed on Form ADV (Item 1.I)
- firsteagle.com
- firsteagle.com/overseas-adr-strategy-separately-managed-account-sma
- firsteagle.com/sma/global-separately-managed-account-sma-strategy
- firsteagle.com/sma/us-smid-cap-opportunity-separately-managed-account-sma
- LinkedIn @first-eagle-investments
- LinkedIn @first-eagle-investments-europe
- YouTube @FirstEagleInvestments

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,011,086 | 10 | March 30, 2021 |
| October 2022 | $68,659,318 | 12 | March 29, 2022 |
| October 2023 | $156,706,464 | 48 | March 28, 2023 |
| October 2024 | $261,106,868 | 46 | March 27, 2024 |
| October 2025 | $352,220,592 | 49 | March 27, 2025 |
| October 2026 | $907,634,669 | 46 | July 30, 2026 |

Regulatory assets under management: $1,011,086 in the October 2021 data and $907,634,669 in the October 2026 data, up 89668%.
Total employees: 10 in October 2021 and 46 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Changed its office addresses in Campbell, CA.

### July 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Regulatory assets under management went from $352,220,592 to $907,634,669 (+158%).
- Employees performing advisory functions went from 38 to 40.
- Item 11 disclosure answers changed: 0 yes answers, previously 4 (now no: 11.C(1), 11.C(2), 11.C(4), 11.C(5)).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. First Eagle Separate Account Management, LLC (CRD 300359): Form ADV filing data as of October 2026.