# Franco Nevada (FNV): value investors who own it | moatshark

3 value investors held Franco Nevada in their Q3 2026 13F, led by Horizon Kinetics, First Eagle Investment Management, Markel Group.

## 13F holders

| Manager | Portfolio | Value | Change | Quarters held |
| --- | --- | --- | --- | --- |
| Horizon Kinetics | 1.8% | $161m | Added +2.1% | 30 |
| First Eagle Investment Management | 1.8% | $1.1bn | Trimmed 0.0% | 53 |
| Markel Group | 1.2% | $161m | Added +9.2% | 9 |
| First Pacific Advisors (FPA) | 0.0% | $0k | Sold out | 1 |

## Fund holders

| Fund | Manager | Weight | Value | As at |
| --- | --- | --- | --- | --- |
| Horizon Kinetics Inflation Beneficiaries ETF | Horizon Kinetics | 4.7% | $69.5m | 2026-06-30 |
| First Eagle Global Fund | First Eagle Investment Management | 0.7% | $516m | 2026-07-31 |
| First Eagle Overseas Fund | First Eagle Investment Management | 0.7% | $121m | 2026-07-31 |

Source: SEC filings, via moatshark (https://www.moatshark.com/s/fnv). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.