First Eagle US Equity ETF (USFE) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing primarily in U.S. equity securities selected through a value-oriented investment philosophy emphasizing downside protection, high free cash flow generation, and strong balance sheets. The fund offers exposure to a concentrated portfolio of large- and mid-cap U.S. stocks across sectors including financials, technology, healthcare, and consumer goods; it employs fundamental analysis to identify undervalued companies with sustainable competitive advantages. USFE operates globally through listings on major U.S. exchanges and targets institutional and retail investors seeking U.S. equity market participation with lower volatility characteristics.
Launched in 2023 by First Eagle Investment Management, LLC, headquartered in New York, USFE represents an extension of the firm's longstanding value investing approach pioneered since 1864. In late 2025, the fund announced a strategic partnership with a leading index provider to enhance liquidity and distribution channels, alongside a $150 million seed capital infusion from institutional partners to support assets under management growth amid rising demand for active ETFs. Recent portfolio adjustments include increased allocations to technology infrastructure and energy transition plays, reflecting management’s response to macroeconomic shifts; no major acquisitions or reorganizations have occurred, with operations focused on the U.S. market through First Eagle’s parent entity, a subsidiary of Arnold & S. Bleichroeder Advisors, LLC.