First Eagle Investment Management significantly increased its investment in Deere & Co., more than doubling its stake during the second quarter of 2026. The fund's holding grew by 101.45% to 1.07 million shares, with a reported value of $681.12 million as of June 30. This disclosure comes from a quarterly 13F filing with the SEC, so the transactions occurred between March and June.
The move coincided with a period where Deere showcased strength in its construction and forestry division, which helped offset a slowdown in the agricultural sector. In August, after the period of this investment, Deere raised its full-year profit forecast, citing robust demand driven by infrastructure, industrial construction, and data center projects. The company also signaled its belief that the agricultural equipment market was bottoming out.