N-Q 1 a13-7290_1nq.htm N-Q

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-07762

 

First Eagle Funds

(Exact name of registrant as specified in charter)

 

1345 Avenue of the Americas
New York, New York

 

10105

(Address of principal executive offices)

 

(Zip code)

 

Robert Bruno
First Eagle Funds
1345 Avenue of the Americas
New York, New York 10105

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

(212) 632-2700

 

 

Date of fiscal year end:

October 31

 

 

Date of reporting period:

January 31, 2013

 

 



 

Item 1. Schedule of Investments. — The schedule of investments for the three-month period ended January 31, 2013, is filed herewith.

 



 

FIRST EAGLE

Global Fund

 

Schedule of Investments · Period Ended January 31, 2013 (unaudited)

 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

Common Stocks — 74.95%

 

 

 

 

 

 

 

 

 

 

 

U.S. Common Stocks — 34.30%

 

 

 

 

 

 

 

 

 

 

 

Consumer Discretionary 2.81%

 

 

 

 

 

17,414,912

 

Comcast Corporation, Class ‘A’

 

$

296,976,000

 

$

639,649,718

 

6,208,490

 

Omnicom Group, Inc.

 

186,093,077

 

336,996,837

 

4,793,518

 

H&R Block, Inc.

 

82,052,569

 

109,148,405

 

2,485

 

JG Boswell Company (a)

 

573,840

 

2,079,945

 

184,753

 

St. John Knits International, Inc. (a)(b)

 

3,174,837

 

1,200,894

 

33,892

 

Mills Music Trust (a)(c)

 

1,015,863

 

1,148,939

 

 

 

 

 

569,886,186

 

1,090,224,738

 

Consumer Staples 2.78%

 

 

 

 

 

17,479,577

 

Sysco Corporation

 

495,705,689

 

555,326,161

 

5,885,010

 

Lorillard, Inc.

 

149,749,241

 

229,927,341

 

1,629,490

 

Colgate-Palmolive Company

 

125,309,064

 

174,958,341

 

1,693,404

 

Wal-Mart Stores, Inc.

 

82,465,011

 

118,453,610

 

 

 

 

 

853,229,005

 

1,078,665,453

 

Energy 2.34%

 

 

 

 

 

6,224,163

 

ConocoPhillips

 

250,797,600

 

361,001,454

 

3,862,040

 

Devon Energy Corporation

 

221,215,022

 

220,870,068

 

1,442,501

 

Apache Corporation

 

90,693,919

 

120,823,884

 

1,522,100

 

Phillips 66 (d)

 

34,878,212

 

92,193,597

 

3,908,035

 

San Juan Basin Royalty Trust (c)

 

138,744,050

 

60,183,739

 

806,395

 

Helmerich & Payne, Inc.

 

17,026,317

 

51,883,454

 

 

 

 

 

753,355,120

 

906,956,196

 

Financials 8.95%

 

 

 

 

 

17,571,107

 

Bank of New York Mellon Corporation

 

441,008,507

 

477,231,266

 

7,529,993

 

American Express Company

 

317,870,387

 

442,838,888

 

13,816,985

 

Weyerhaeuser Company, REIT

 

243,497,569

 

416,167,588

 

2,714

 

Berkshire Hathaway, Inc., Class ‘A’ (b)

 

218,995,900

 

395,904,750

 

8,086,377

 

Cincinnati Financial Corporation

 

204,373,898

 

343,185,840

 

9,693,682

 

BB&T Corporation

 

245,863,323

 

293,524,691

 

5,719,208

 

Plum Creek Timber Company, Inc., REIT

 

212,342,604

 

275,551,441

 

7,819,459

 

U.S. Bancorp

 

192,949,644

 

258,824,093

 

4,386,051

 

WR Berkley Corporation

 

117,583,057

 

180,573,720

 

2,858,553

 

Rayonier, Inc., REIT

 

27,837,041

 

153,904,494

 

743,437

 

Visa, Inc., Class ‘A’

 

53,618,674

 

117,396,137

 

202,406

 

Mastercard, Inc., Class ‘A’

 

40,702,513

 

104,927,270

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE  FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

1



 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

U.S. Common Stocks — 34.30% — (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

Financials 8.95% — (continued)

 

 

 

 

 

40,182

 

Alleghany Corporation (b)

 

$

13,132,071

 

$

14,489,227

 

 

 

 

 

2,329,775,188

 

3,474,519,405

 

Health Care 0.95%

 

 

 

 

 

4,469,770

 

WellPoint, Inc.

 

240,056,531

 

289,730,491

 

1,059,980

 

Johnson & Johnson

 

59,610,843

 

78,353,722

 

 

 

 

 

299,667,374

 

368,084,213

 

Industrials 4.57%

 

 

 

 

 

13,051,511

 

Cintas Corporation (c)

 

438,387,413

 

551,556,855

 

4,069,880

 

3M Company

 

315,646,156

 

409,226,434

 

3,069,252

 

Lockheed Martin Corporation

 

217,057,860

 

266,625,921

 

3,867,416

 

Northrop Grumman Corporation

 

231,724,655

 

251,536,737

 

3,638,247

 

Alliant Techsystems, Inc. (c)

 

314,316,906

 

235,467,346

 

719,638

 

Unifirst Corporation

 

11,318,846

 

58,823,210

 

 

 

 

 

1,528,451,836

 

1,773,236,503

 

Information Technology 8.16%

 

 

 

 

 

30,972,653

 

Cisco Systems, Inc.

 

507,076,395

 

637,107,472

 

19,924,734

 

Microsoft Corporation

 

501,658,947

 

547,332,443

 

22,081,477

 

Intel Corporation

 

410,687,366

 

464,594,276

 

13,004,217

 

Oracle Corporation

 

362,943,749

 

461,779,746

 

8,019,789

 

Linear Technology Corporation

 

227,165,656

 

293,684,673

 

8,748,867

 

Texas Instruments, Inc.

 

228,873,378

 

289,412,520

 

282,275

 

Google, Inc., Class ‘A’ (b)

 

149,382,648

 

213,312,395

 

2,365,411

 

Automatic Data Processing, Inc.

 

85,148,200

 

140,245,218

 

1,459,200

 

KLA-Tencor Corporation (d)

 

41,163,538

 

80,124,672

 

1,137,229

 

NetApp, Inc. (b)

 

36,048,304

 

40,940,244

 

 

 

 

 

2,550,148,181

 

3,168,533,659

 

Materials 1.87%

 

 

 

 

 

4,056,879

 

Vulcan Materials Company

 

200,596,336

 

229,457,076

 

4,172,577

 

Scotts Miracle-Gro Company, Class ‘A’ (c)

 

182,102,946

 

182,425,067

 

1,752,640

 

Martin Marietta Materials, Inc.

 

155,134,876

 

173,038,147

 

1,780,037

 

Newmont Mining Corporation

 

45,037,176

 

76,470,390

 

866,972

 

Deltic Timber Corporation (c)

 

42,361,272

 

62,907,488

 

 

 

 

 

625,232,606

 

724,298,168

 

Utilities 1.87%

 

 

 

 

 

9,696,381

 

FirstEnergy Corporation

 

353,449,107

 

392,606,467

 

3,760,485

 

IDACorp, Inc. (c)

 

124,066,738

 

174,524,109

 

2,491,660

 

Entergy Corporation

 

164,249,120

 

160,961,236

 

 

 

 

 

641,764,965

 

728,091,812

 

Total U.S. Common Stocks

 

10,151,510,461

 

13,312,610,147

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE  FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

2



 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Common Stocks — 40.65%

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia 0.98%

 

 

 

 

 

15,612,582

 

Newcrest Mining Limited

 

$

478,103,136

 

$

381,537,157

 

 

 

 

 

 

 

 

 

Austria 0.41%

 

 

 

 

 

 

 

3,857,199

 

OMV AG

 

157,989,372

 

159,004,680

 

 

 

 

 

 

 

 

 

Belgium 0.60%

 

 

 

 

 

 

 

2,788,865

 

Groupe Bruxelles Lambert SA

 

234,732,253

 

232,883,490

 

 

 

 

 

 

 

 

 

Bermuda 0.48%

 

 

 

 

 

 

 

2,875,070

 

Jardine Matheson Holdings Limited

 

141,681,819

 

186,333,287

 

 

 

 

 

 

 

 

 

Canada 2.55%

 

 

 

 

 

 

 

4,975,100

 

Potash Corporation of Saskatchewan, Inc.

 

197,517,274

 

211,441,750

 

5,581,122

 

Goldcorp, Inc.

 

213,133,659

 

196,957,795

 

5,456,594

 

Cenovus Energy, Inc.

 

151,356,348

 

181,377,185

 

16,322,344

 

Penn West Petroleum Limited

 

260,668,404

 

165,182,121

 

5,063,900

 

Canadian Natural Resources Limited

 

142,499,478

 

153,083,422

 

1,669,132

 

Agnico-Eagle Mines Limited

 

54,454,117

 

76,441,505

 

1,493,910

 

Postmedia Network Canada Corporation (a)(b)(e)

 

6,692,131

 

2,736,374

 

1,008,427

 

Catalyst Paper Corporation (b)(c)(f)

 

17,346

 

1,872,424

 

 

 

 

 

1,026,338,757

 

989,092,576

 

France 5.11%

 

 

 

 

 

 

 

4,179,227

 

Sanofi

 

323,385,924

 

407,773,753

 

10,735,807

 

Bouygues SA

 

391,146,130

 

304,806,920

 

3,330,779

 

Sodexo

 

88,582,313

 

296,587,828

 

4,702,249

 

Total SA

 

247,298,454

 

254,941,788

 

8,755,798

 

Carrefour SA

 

363,896,634

 

249,423,467

 

11,803,362

 

Société Télévision Francaise 1 (c)

 

184,371,882

 

142,636,879

 

2,044,437

 

Neopost SA (c)

 

184,799,958

 

116,589,413

 

921,669

 

Wendel SA

 

19,716,342

 

100,015,325

 

1,130,913

 

Legrand SA

 

35,203,833

 

51,325,916

 

157,260

 

Robertet SA (b)(c)

 

20,623,058

 

27,647,576

 

42,252

 

Robertet SA CI (a)(b)(g)(i)

 

800,508

 

5,378,419

 

385,000

 

Sabeton SA (b)(c)

 

4,841,233

 

6,555,327

 

69,500

 

NSC Groupe (a)(c)

 

12,298,421

 

6,131,978

 

12,000,000

 

FINEL (a)(b)(c)(f)(g)(h)

 

0

 

5,865,700

 

104,457

 

Gaumont SA

 

6,087,824

 

5,616,539

 

 

 

 

 

1,883,052,514

 

1,981,296,828

 

Germany 2.14%

 

 

 

 

 

 

 

8,114,931

 

HeidelbergCement AG

 

447,784,386

 

511,146,390

 

4,285,909

 

Daimler AG

 

200,355,962

 

249,507,252

 

693,440

 

Fraport AG

 

20,976,007

 

42,040,362

 

773,684

 

Hornbach Baumarkt AG

 

21,504,161

 

27,628,382

 

 

 

 

 

690,620,516

 

830,322,386

 

Hong Kong 0.40%

 

 

 

 

 

12,693,580

 

Guoco Group Limited

 

115,086,260

 

152,210,030

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE  FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

3


 


 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Common Stocks — 40.65% — (continued)

 

 

 

 

 

 

 

 

 

 

 

Hong Kong 0.40% — (continued)

 

 

 

 

 

20,738,780

 

City e-Solutions Limited (a)(b)(c)

 

$

936,898

 

$

1,938,641

 

 

 

 

 

116,023,158

 

154,148,671

 

Ireland 0.56%

 

 

 

 

 

 

 

10,094,915

 

CRH PLC

 

175,024,030

 

218,063,498

 

 

 

 

 

 

 

 

 

Israel 0.27%

 

 

 

 

 

 

 

7,864,560

 

Israel Chemicals Limited

 

81,267,220

 

104,182,364

 

 

 

 

 

 

 

 

 

Italy 0.33%

 

 

 

 

 

 

 

18,139,395

 

Italcementi S.p.A. RSP

 

249,186,230

 

57,190,133

 

4,682,069

 

Italcementi S.p.A.

 

86,201,872

 

26,395,582

 

1,734,972

 

Italmobiliare S.p.A. RSP (b)

 

121,356,934

 

23,416,121

 

1,021,137

 

Italmobiliare S.p.A. (b)

 

107,360,738

 

20,450,886

 

 

 

 

 

564,105,774

 

127,452,722

 

Japan 15.95%

 

 

 

 

 

 

 

11,590,430

 

Secom Company Limited

 

528,330,685

 

578,633,247

 

1,895,990

 

Keyence Corporation

 

351,946,352

 

526,617,761

 

2,693,956

 

SMC Corporation

 

294,992,485

 

466,590,584

 

8,957,460

 

Astellas Pharma, Inc.

 

361,514,739

 

456,502,916

 

2,888,400

 

Fanuc Corporation

 

255,486,281

 

450,620,758

 

6,585,190

 

Shimano, Inc. (c)

 

142,204,616

 

449,875,034

 

5,250,300

 

KDDI Corporation

 

334,890,772

 

390,869,718

 

14,441,180

 

Mitsubishi Estate Company Limited

 

219,465,631

 

350,041,302

 

12,077,060

 

MISUMI Group, Inc. (c)

 

207,493,550

 

317,726,901

 

14,917,300

 

NKSJ Holdings, Inc.

 

402,645,728

 

313,730,384

 

14,618,720

 

MS&AD Insurance Group Holdings

 

356,085,457

 

307,130,761

 

2,318,500

 

Hirose Electric Company Limited (c)

 

246,194,572

 

275,915,207

 

12,945,240

 

Hoya Corporation

 

280,406,180

 

250,146,142

 

4,608,800

 

Ono Pharmaceutical Company Limited

 

205,307,217

 

242,953,492

 

4,286,130

 

Nissin Foods Holdings Company Limited

 

152,493,842

 

163,064,394

 

6,491,810

 

Nomura Research Institute Limited

 

135,779,895

 

148,897,985

 

3,459,136

 

Canon, Inc.

 

153,731,269

 

127,435,873

 

1,535,560

 

Shin-Etsu Chemical Company Limited

 

72,103,710

 

93,976,138

 

59,245

 

NTT DoCoMo, Inc.

 

90,107,766

 

90,093,393

 

3,526,280

 

Chofu Seisakusho Company Limited (c)

 

64,322,538

 

72,772,474

 

5,147,000

 

T. Hasegawa Company Limited (c)

 

79,849,658

 

62,153,941

 

1,219,500

 

Ariake Japan Company Limited

 

19,779,460

 

22,216,422

 

2,002,100

 

Seikagaku Corporation

 

21,143,745

 

21,963,041

 

653,050

 

THK Company Limited

 

9,802,546

 

11,353,661

 

 

 

 

 

4,986,078,694

 

6,191,281,529

 

Malaysia 0.39%

 

 

 

 

 

 

 

129,221,380

 

Genting Malaysia Berhad

 

111,924,255

 

152,636,776

 

 

 

 

 

 

 

 

 

Mexico 2.33%

 

 

 

 

 

 

 

15,044,166

 

Grupo Televisa S.A.B., ADR

 

289,394,928

 

421,387,090

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE  FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

4



 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Common Stocks — 40.65% — (continued)

 

 

 

 

 

 

 

 

 

 

 

Mexico 2.33% — (continued)

 

 

 

 

 

6,401,020

 

Industrias Peñoles S.A.B. de C.V.

 

$

7,339,323

 

$

313,965,547

 

6,399,253

 

Fresnillo PLC

 

43,883,996

 

168,273,995

 

 

 

 

 

340,618,247

 

903,626,632

 

Netherlands 0.22%

 

 

 

 

 

10,089,542

 

TNT Express NV

 

112,724,843

 

77,525,976

 

2,555,993

 

PostNL NV (b)

 

23,540,671

 

6,694,651

 

 

 

 

 

136,265,514

 

84,220,627

 

Singapore 0.05%

 

 

 

 

 

13,467,250

 

ComfortDelGro Corporation Limited

 

3,279,184

 

21,006,015

 

 

 

 

 

 

 

 

 

South Africa 0.82%

 

 

 

 

 

22,792,720

 

Gold Fields Limited, ADR

 

255,149,383

 

264,851,407

 

8,092,307

 

Harmony Gold Mining Company Limited, ADR

 

69,852,451

 

52,276,303

 

 

 

 

 

325,001,834

 

317,127,710

 

South Korea 0.93%

 

 

 

 

 

3,476,566

 

KT&G Corporation

 

187,647,559

 

242,322,804

 

51,900

 

Lotte Confectionery Company Limited (b)

 

21,157,499

 

82,216,406

 

39,989

 

Namyang Dairy Products Company Limited (b)(c)

 

7,325,466

 

35,254,439

 

 

 

 

 

216,130,524

 

359,793,649

 

Spain 0.47%

 

 

 

 

 

3,295,234

 

Red Electrica Corporation SA

 

165,292,750

 

183,489,883

 

 

 

 

 

 

 

 

 

Sweden 0.68%

 

 

 

 

 

5,939,940

 

Investor AB, Class ‘A’

 

116,378,542

 

165,303,499

 

3,394,798

 

Investor AB, Class ‘B’

 

63,888,333

 

96,504,910

 

 

 

 

 

180,266,875

 

261,808,409

 

Switzerland 2.12%

 

 

 

 

 

5,091,560

 

Nestlé SA

 

146,056,200

 

357,528,224

 

4,327,670

 

Pargesa Holding SA

 

272,881,781

 

321,246,273

 

27,925

 

Lindt & Spruengli AG PC

 

28,106,172

 

100,039,011

 

388,803

 

Kuehne & Nagel International AG

 

7,503,142

 

45,673,671

 

 

 

 

 

454,547,295

 

824,487,179

 

Thailand 0.57%

 

 

 

 

 

30,023,200

 

Bangkok Bank PCL, NVDR

 

97,800,376

 

210,424,172

 

577,000

 

OHTL PCL (a)

 

2,636,473

 

9,287,726

 

 

 

 

 

100,436,849

 

219,711,898

 

United Kingdom 2.29%

 

 

 

 

 

8,887,953

 

Berkeley Group Holdings PLC (b)(c)

 

108,218,344

 

257,962,180

 

54,190,386

 

WM Morrison Supermarkets PLC

 

239,950,505

 

215,724,348

 

7,387,420

 

GlaxoSmithKline PLC

 

140,774,624

 

169,361,264

 

4,355,040

 

Willis Group Holdings PLC

 

119,957,625

 

155,518,479

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE  FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

5



 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Common Stocks — 40.65% — (continued)

 

 

 

 

 

 

 

 

 

 

 

United Kingdom 2.29% — (continued)

 

 

 

 

 

3,052,693

 

Anglo American PLC

 

$

74,109,213

 

$

91,336,242

 

 

 

 

 

683,010,311

 

889,902,513

 

Total International Common Stocks

 

13,251,790,881

 

15,773,410,479

 

Total Common Stocks

 

23,403,301,342

 

29,086,020,626

 

 

 

 

 

 

 

 

 

International Preferred Stock — 0.32%

 

 

 

 

 

 

 

 

 

 

 

 

 

Germany 0.32%

 

 

 

 

 

 

 

1,754,484

 

Hornbach Holding AG

 

63,837,360

 

125,305,822

 

 

 

 

 

 

 

 

 

Warrant — 0.20%

 

 

 

 

 

 

 

 

 

 

 

 

 

United States — 0.20%

 

 

 

 

 

5,806,899

 

JPMorgan Chase & Company Warrant expire 10/28/18 (b)

 

75,108,859

 

79,438,378

 

 

 

 

 

 

 

 

 

OUNCES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity — 4.51%

 

 

 

 

 

1,051,078

 

Gold bullion (b)

 

736,135,763

 

1,749,782,791

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes and Bonds — 0.39%

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Corporate Bonds — 0.07%

 

 

 

 

 

$

5,467,000

 

Bausch & Lomb, Inc. 7.125% due 08/01/28 (a)

 

4,776,077

 

4,329,181

 

22,554,000

 

Yankee Candle Company, Inc. Series ‘B’ 9.75% due 02/15/17

 

22,079,872

 

23,456,385

 

Total U.S. Corporate Bonds

 

26,855,949

 

27,785,566

 

 

 

 

 

 

 

 

 

International Notes and Bonds — 0.32%

 

 

 

 

 

 

 

 

 

 

 

 

 

International Corporate Notes and Bonds — 0.25%

 

 

 

 

 

 

 

 

 

 

 

 

 

Canada 0.05%

 

 

 

 

 

 

 

17,593,454
USD

 

Catalyst Paper Corporation 11.00% due 10/30/17 (f)(j)

 

23,334,266

 

14,514,600

 

3,924,131
USD

 

Catalyst Paper Corporation FRN 13.00% due 09/13/16 (a)(f)(k)(l)

 

3,372,408

 

4,022,234

 

 

 

 

 

26,706,674

 

18,536,834

 

France 0.17%

 

 

 

 

 

 

 

15,000,000
EUR

 

Emin Leydier SA FRN 7.32% due 07/31/16 (a)(f)(g)(l)

 

21,437,037

 

20,367,014

 

12,000,000
EUR

 

FINEL 9.50% due 06/30/17 (a)(f)(g)

 

14,495,954

 

12,220,208

 

12,050,000
EUR

 

Wendel SA 4.375% due 08/09/17

 

12,307,491

 

16,831,894

 

10,000,000
EUR

 

Wendel SA 4.875% due 09/21/15

 

11,621,362

 

14,189,019

 

3,500,000
EUR

 

Wendel SA 4.875% due 05/26/16

 

3,176,365

 

4,966,157

 

 

 

 

 

63,038,209

 

68,574,292

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE  FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

6



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Corporate Notes and Bonds 0.25% — (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

Norway 0.03%

 

 

 

 

 

5,500,000
USD

 

Den Norske Bank ASA FRN 0.813% due 08/30/13 (a)(l)

 

$

3,888,750

 

$

2,942,500

 

3,170,000
USD

 

Den Norske Creditbank FRN 0.561% due 05/31/13 (a)(l)

 

2,059,625

 

1,680,100

 

3,500,000
USD

 

Den Norske Creditbank FRN 0.859% due 08/30/13 (a)(l)

 

2,610,000

 

1,925,000

 

10,000,000
USD

 

Nordea Bank Norge ASA FRN 0.711% due 05/21/13 (a)(l)

 

6,826,750

 

5,000,000

 

 

 

 

 

15,385,125

 

11,547,600

 

Total International Corporate Notes and Bonds

 

105,130,008

 

98,658,726

 

 

 

 

 

 

 

 

 

International Government Bond — 0.07%

 

 

 

 

 

 

 

 

 

 

 

South Korea 0.07%

 

 

 

 

 

25,471,950,000
KRW

 

Inflation Linked Korea Treasury Bond 2.75% due 03/10/17 (m)

 

24,262,917

 

25,478,617

 

Total International Notes and Bonds

 

129,392,925

 

124,137,343

 

Total Notes and Bonds

 

156,248,874

 

151,922,909

 

 

 

 

 

 

 

 

 

U.S. Treasury Bills — 0.35%

 

 

 

 

 

$

64,076,000

 

U.S. Treasury Bill 0.09% due 02/07/13

 

64,075,039

 

64,075,039

 

71,596,000

 

U.S. Treasury Bill 0.11% due 02/21/13

 

71,591,625

 

71,591,625

 

Total U.S. Treasury Bills

 

135,666,664

 

135,666,664

 

 

 

 

 

 

 

Commercial Paper — 18.09%

 

 

 

 

 

 

 

 

 

 

 

International Commercial Paper — 4.63%

 

 

 

 

 

 

 

 

 

 

 

Canada 0.31%

 

 

 

 

 

24,217,000
USD

 

Suncor Energy, Inc. 0.30% due 02/05/13

 

24,216,193

 

24,216,193

 

26,012,000
USD

 

Suncor Energy, Inc. 0.30% due 02/14/13

 

26,009,182

 

26,009,182

 

33,648,000
USD

 

Suncor Energy, Inc. 0.30% due 02/25/13

 

33,641,270

 

33,641,270

 

36,920,000
USD

 

Suncor Energy, Inc. 0.33% due 02/12/13

 

36,916,277

 

36,916,277

 

 

 

 

 

 

 

 

 

France 1.20%

 

 

 

 

 

21,765,000
USD

 

EI du Pont de Nemours & Company 0.09% due 02/12/13

 

21,764,402

 

21,764,402

 

33,648,000
USD

 

EI du Pont de Nemours & Company 0.09% due 02/21/13

 

33,646,318

 

33,646,318

 

53,095,000
USD

 

EI du Pont de Nemours & Company 0.10% due 02/15/13

 

53,092,935

 

53,092,935

 

15,546,000
USD

 

EI du Pont de Nemours & Company 0.10% due 02/21/13

 

15,545,136

 

15,545,136

 

44,374,000
USD

 

Sanofi 0.13% due 02/28/13

 

44,369,840

 

44,369,840

 

56,539,000
USD

 

Sanofi 0.14% due 02/28/13

 

56,533,063

 

56,533,063

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

7



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Commercial Paper — 4.63% — (continued)

 

 

 

 

 

 

 

 

 

 

 

France 1.20% — (continued)

 

 

 

 

 

140,624,000
USD

 

Sanofi 0.15% due 03/20/13

 

$

140,596,461

 

$

140,596,461

 

64,767,000
USD

 

Total SA 0.12% due 03/15/13

 

64,757,933

 

64,757,933

 

36,968,000
USD

 

Total SA 0.13% due 02/13/13

 

36,966,398

 

36,966,398

 

 

 

 

 

 

 

 

 

Germany 0.82%

 

 

 

 

 

100,945,000
USD

 

Siemens Company 0.12% due 02/19/13

 

100,938,943

 

100,938,943

 

65,769,000
USD

 

Siemens Company 0.13% due 03/18/13

 

65,758,313

 

65,758,313

 

85,723,000
USD

 

Siemens Company 0.13% due 03/20/13

 

85,708,451

 

85,708,451

 

65,769,000
USD

 

Siemens Company 0.13% due 03/21/13

 

65,757,600

 

65,757,600

 

 

 

 

 

 

 

 

 

Italy 0.32%

 

 

 

 

 

35,397,000
USD

 

Eni S.p.A. 0.43% due 02/22/13

 

35,388,328

 

35,388,328

 

21,757,000
USD

 

Eni S.p.A. 0.45% due 03/14/13

 

21,746,097

 

21,746,097

 

34,123,000
USD

 

Eni S.p.A. 0.48% due 03/05/13

 

34,108,744

 

34,108,744

 

32,514,000
USD

 

Eni S.p.A. 0.49% due 02/11/13

 

32,509,665

 

32,509,665

 

 

 

 

 

 

 

 

 

Japan 0.12%

 

 

 

 

 

16,895,000
USD

 

Honda Corporation 0.13% due 02/06/13

 

16,894,695

 

16,894,695

 

31,500,000
USD

 

Mitsui & Company Limited 0.24% due 02/19/13

 

31,496,220

 

31,496,220

 

 

 

 

 

 

 

 

 

Switzerland 0.30%

 

 

 

 

 

22,918,000
USD

 

ABB Limited 0.25% due 03/28/13

 

22,909,246

 

22,909,246

 

13,663,000
USD

 

Nestlé SA 0.03% due 02/04/13

 

13,662,966

 

13,662,966

 

55,903,000
USD

 

Nestlé SA 0.11% due 04/01/13

 

55,892,922

 

55,892,922

 

21,979,000
USD

 

Roche Holdings, Inc. 0.11% due 04/22/13

 

21,973,628

 

21,973,215

 

 

 

 

 

 

 

 

 

United Kingdom 1.56%

 

 

 

 

 

18,348,000
USD

 

AstraZeneca PLC 0.11% due 02/20/13

 

18,346,935

 

18,346,935

 

27,901,000
USD

 

AstraZeneca PLC 0.11% due 05/01/13

 

27,893,412

 

27,882,167

 

17,271,000
USD

 

AstraZeneca PLC 0.12% due 02/27/13

 

17,269,503

 

17,269,503

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

8



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Commercial Paper — 4.63% — (continued)

 

 

 

 

 

 

 

 

 

 

 

United Kingdom 1.56% — (continued)

 

 

 

 

 

69,145,000
USD

 

AstraZeneca PLC 0.12% due 05/03/13

 

$

69,124,026

 

$

69,096,758

 

28,905,000
USD

 

AstraZeneca PLC 0.13% due 04/17/13

 

28,897,172

 

28,889,929

 

31,094,000
USD

 

AstraZeneca PLC 0.14% due 04/22/13

 

31,084,326

 

31,076,161

 

29,374,000
USD

 

AstraZeneca PLC 0.15% due 03/05/13

 

29,370,083

 

29,370,083

 

137,787,000
USD

 

GlaxoSmithKline PLC 0.12% due 02/05/13

 

137,785,163

 

137,785,163

 

72,262,000
USD

 

GlaxoSmithKline PLC 0.13% due 03/04/13

 

72,253,911

 

72,253,911

 

109,720,000
USD

 

GlaxoSmithKline PLC 0.16% due 02/07/13

 

109,717,074

 

109,717,074

 

63,528,000
USD

 

GlaxoSmithKline PLC 0.17% due 02/13/13

 

63,524,400

 

63,524,400

 

Total International Commercial Paper

 

1,798,067,231

 

1,798,012,897

 

 

 

 

 

 

 

U.S. Commercial Paper — 13.46%

 

 

 

 

 

$

23,553,000

 

Abbott Laboratories 0.09% due 03/06/13

 

23,551,057

 

23,551,057

 

6,904,000

 

Abbott Laboratories 0.10% due 02/19/13

 

6,903,655

 

6,903,655

 

13,774,000

 

Abbott Laboratories 0.10% due 02/26/13

 

13,773,043

 

13,773,043

 

39,910,000

 

Abbott Laboratories 0.10% due 04/16/13

 

39,901,796

 

39,901,795

 

27,901,000

 

Abbott Laboratories 0.11% due 04/02/13

 

27,895,885

 

27,896,274

 

24,414,000

 

Abbott Laboratories 0.11% due 04/09/13

 

24,409,002

 

24,409,388

 

24,259,000

 

Abbott Laboratories 0.12% due 02/26/13

 

24,256,978

 

24,256,978

 

21,400,000

 

AutoZone, Inc. 0.30% due 02/15/13

 

21,397,503

 

21,397,503

 

17,698,000

 

Baker Hughes, Inc. 0.15% due 04/15/13

 

17,692,617

 

17,688,068

 

69,034,000

 

BHP Billiton Finance USA Limited 0.12% due 02/14/13

 

69,031,009

 

69,031,009

 

35,397,000

 

BHP Billiton Finance USA Limited 0.12% due 02/19/13

 

35,394,876

 

35,394,876

 

15,683,000

 

BHP Billiton Finance USA Limited 0.12% due 02/20/13

 

15,682,007

 

15,682,007

 

16,824,000

 

BHP Billiton Finance USA Limited 0.15% due 04/18/13

 

16,818,672

 

16,813,996

 

8,279,000

 

Campbell Soup Company 0.18% due 02/13/13

 

8,278,503

 

8,278,503

 

6,646,000

 

Campbell Soup Company 0.19% due 02/14/13

 

6,645,544

 

6,645,544

 

22,345,000

 

Caterpillar Financial Services Company 0.13% due 04/11/13

 

22,339,432

 

22,337,179

 

68,989,000

 

Chevron Corporation 0.06% due 02/11/13

 

68,987,850

 

68,987,850

 

48,931,000

 

Chevron Corporation 0.06% due 02/12/13

 

48,930,103

 

48,930,103

 

56,635,000

 

Chevron Corporation 0.06% due 02/14/13

 

56,633,773

 

56,633,773

 

63,848,000

 

Chevron Corporation 0.07% due 02/01/13

 

63,848,000

 

63,848,000

 

73,633,000

 

Chevron Corporation 0.14% due 02/04/13

 

73,632,141

 

73,632,141

 

36,632,000

 

Church & Dwight Company, Inc. 0.30% due 03/05/13

 

36,622,231

 

36,622,231

 

35,513,000

 

Coca-Cola Company 0.11% due 03/18/13

 

35,508,117

 

35,508,117

 

21,643,000

 

Coca-Cola Company 0.13% due 04/17/13

 

21,637,138

 

21,637,061

 

48,606,000

 

Coca-Cola Company 0.14% due 02/14/13

 

48,603,543

 

48,603,543

 

67,661,000

 

Coca-Cola Company 0.15% due 03/19/13

 

67,648,032

 

67,648,032

 

33,634,000

 

Coca-Cola Company 0.15% due 04/17/13

 

33,623,489

 

33,624,771

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

9



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

U.S. Commercial Paper — 13.46% — (continued)

 

 

 

 

 

$

18,253,000

 

Coca-Cola Company 0.18% due 03/13/13

 

$

18,249,349

 

$

18,249,349

 

45,050,000

 

Coca-Cola Company 0.20% due 02/07/13

 

45,048,498

 

45,048,498

 

13,154,000

 

Colgate-Palmolive Company 0.06% due 02/04/13

 

13,153,934

 

13,153,934

 

32,884,000

 

Con Edison, Inc. 0.25% due 02/06/13

 

32,882,858

 

32,882,858

 

13,743,000

 

ConocoPhillips 0.14% due 02/11/13

 

13,742,466

 

13,742,466

 

21,000,000

 

ConocoPhillips 0.15% due 02/07/13

 

20,999,475

 

20,999,475

 

39,882,000

 

ConocoPhillips 0.17% due 04/16/13

 

39,868,063

 

39,871,200

 

28,410,000

 

Danaher Corporation 0.15% due 02/08/13

 

28,409,171

 

28,409,171

 

70,942,000

 

Deere & Company 0.09% due 02/15/13

 

70,939,517

 

70,939,517

 

15,693,000

 

Deere & Company 0.11% due 03/12/13

 

15,691,130

 

15,691,130

 

34,877,000

 

Deere & Company 0.11% due 03/27/13

 

34,871,245

 

34,871,245

 

36,696,000

 

Deere & Company 0.12% due 02/05/13

 

36,695,511

 

36,695,511

 

37,000,000

 

Deere & Company 0.12% due 02/11/13

 

36,998,767

 

36,998,767

 

21,890,000

 

Deere & Company 0.12% due 02/13/13

 

21,889,124

 

21,889,124

 

15,653,000

 

Devon Energy Corporation 0.24% due 03/13/13

 

15,648,826

 

15,648,826

 

29,581,000

 

Devon Energy Corporation 0.25% due 02/19/13

 

29,577,302

 

29,577,302

 

32,139,000

 

Devon Energy Corporation 0.27% due 02/06/13

 

32,137,795

 

32,137,795

 

7,605,000

 

Devon Energy Corporation 0.27% due 04/17/13

 

7,600,722

 

7,598,637

 

40,421,000

 

Devon Energy Corporation 0.27% due 05/01/13

 

40,394,019

 

40,379,568

 

34,719,000

 

Devon Energy Corporation 0.29% due 02/05/13

 

34,717,881

 

34,717,881

 

16,915,000

 

Devon Energy Corporation 0.33% due 03/18/13

 

16,908,023

 

16,908,023

 

16,070,000

 

Devon Energy Corporation 0.33% due 04/03/13

 

16,061,014

 

16,059,437

 

28,160,000

 

Devon Energy Corporation 0.33% due 04/04/13

 

28,143,996

 

28,141,127

 

13,227,000

 

Dover Corporation 0.07% due 02/04/13

 

13,226,923

 

13,226,923

 

70,399,000

 

Eli Lilly & Company 0.11% due 02/08/13

 

70,397,494

 

70,397,494

 

28,570,000

 

Emerson Electric Company 0.12% due 04/22/13

 

28,562,381

 

28,561,643

 

30,355,000

 

Emerson Electric Company 0.12% due 04/25/13

 

30,346,602

 

30,345,793

 

26,919,000

 

Emerson Electric Company 0.12% due 04/29/13

 

26,911,193

 

26,910,445

 

11,780,000

 

Emerson Electric Company 0.13% due 03/04/13

 

11,778,681

 

11,778,681

 

18,310,000

 

Emerson Electric Company 0.15% due 02/14/13

 

18,309,008

 

18,309,008

 

20,329,000

 

Emerson Electric Company 0.15% due 03/07/13

 

20,326,120

 

20,326,120

 

37,099,000

 

Emerson Electric Company 0.15% due 03/20/13

 

37,091,735

 

37,091,735

 

38,196,000

 

Exxon Mobil Corporation 0.02% due 02/06/13

 

38,195,894

 

38,195,894

 

49,749,000

 

Exxon Mobil Corporation 0.02% due 03/05/13

 

49,748,116

 

49,748,116

 

62,733,000

 

Exxon Mobil Corporation 0.03% due 03/01/13

 

62,731,536

 

62,731,536

 

24,146,000

 

General Mills, Inc. 0.19% due 02/06/13

 

24,145,363

 

24,145,363

 

17,833,000

 

General Mills, Inc. 0.20% due 02/15/13

 

17,831,613

 

17,831,613

 

15,683,000

 

General Mills, Inc. 0.21% due 02/13/13

 

15,681,902

 

15,681,902

 

51,052,000

 

Google, Inc. 0.08% due 02/13/13

 

51,050,639

 

51,050,639

 

22,955,000

 

Google, Inc. 0.12% due 02/12/13

 

22,954,158

 

22,954,158

 

63,085,000

 

Google, Inc. 0.13% due 02/06/13

 

63,083,861

 

63,083,861

 

38,118,000

 

Google, Inc. 0.14% due 03/04/13

 

38,113,405

 

38,113,405

 

9,617,000

 

Google, Inc. 0.15% due 05/02/13

 

9,613,394

 

9,613,337

 

32,652,000

 

Google, Inc. 0.18% due 05/02/13

 

32,637,307

 

32,639,563

 

70,018,000

 

H.J. Heinz Company Limited 0.27% due 04/22/13

 

69,975,989

 

69,975,989

 

36,632,000

 

H.J. Heinz Company Limited 0.30% due 04/23/13

 

36,607,273

 

36,608,636

 

62,185,000

 

Honeywell International, Inc. 0.10% due 03/19/13

 

62,177,054

 

62,177,054

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

10



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

U.S. Commercial Paper — 13.46% — (continued)

 

 

 

 

 

$

33,827,000

 

Johnson & Johnson 0.04% due 02/05/13

 

$

33,826,850

 

$

33,826,850

 

84,539,000

 

Johnson & Johnson 0.06% due 04/02/13

 

84,530,546

 

84,524,679

 

35,214,000

 

Johnson & Johnson 0.07% due 02/05/13

 

35,213,726

 

35,213,726

 

32,866,000

 

Johnson & Johnson 0.07% due 02/07/13

 

32,865,617

 

32,865,617

 

16,950,000

 

Johnson & Johnson 0.08% due 02/25/13

 

16,949,096

 

16,949,096

 

6,138,000

 

Kimberly Clark 0.09% due 03/04/13

 

6,137,524

 

6,137,524

 

5,785,000

 

Kimberly Clark 0.11% due 02/25/13

 

5,784,576

 

5,784,576

 

14,792,000

 

McCormick & Company, Inc. 0.22% due 02/07/13

 

14,791,458

 

14,791,458

 

16,257,000

 

McDonald’s Corporation 0.10% due 03/26/13

 

16,254,607

 

16,254,607

 

17,833,000

 

McDonald’s Corporation 0.11% due 04/10/13

 

17,829,295

 

17,828,556

 

17,359,000

 

McDonald’s Corporation 0.14% due 03/06/13

 

17,356,772

 

17,356,772

 

16,155,000

 

McDonald’s Corporation 0.15% due 03/18/13

 

16,151,971

 

16,151,971

 

88,232,000

 

Medtronic, Inc. 0.09% due 03/07/13

 

88,224,500

 

88,224,500

 

61,131,000

 

Medtronic, Inc. 0.17% due 03/14/13

 

61,119,164

 

61,119,164

 

57,294,000

 

Merck & Company, Inc. 0.07% due 02/19/13

 

57,291,995

 

57,291,995

 

51,946,000

 

Merck & Company, Inc. 0.08% due 03/14/13

 

51,941,267

 

51,941,267

 

35,397,000

 

Merck & Company, Inc. 0.08% due 03/21/13

 

35,393,224

 

35,393,224

 

46,970,000

 

Merck & Company, Inc. 0.08% due 03/22/13

 

46,964,885

 

46,964,885

 

28,160,000

 

Merck & Company, Inc. 0.09% due 02/06/13

 

28,159,648

 

28,159,648

 

37,273,000

 

Merck & Company, Inc. 0.09% due 02/15/13

 

37,271,695

 

37,271,695

 

36,864,000

 

Merck & Company, Inc. 0.09% due 02/26/13

 

36,861,696

 

36,861,696

 

54,454,000

 

MetLife 0.14% due 03/06/13

 

54,447,012

 

54,447,012

 

20,019,000

 

MetLife 0.16% due 04/23/13

 

20,011,793

 

20,009,653

 

31,093,000

 

NetJets, Inc. 0.08% due 02/01/13

 

31,093,000

 

31,093,000

 

10,700,000

 

Parker-Hannifin Corporation 0.10% due 02/11/13

 

10,699,703

 

10,699,703

 

9,702,000

 

Parker-Hannifin Corporation 0.11% due 02/20/13

 

9,701,437

 

9,701,437

 

12,748,000

 

Parker-Hannifin Corporation 0.13% due 03/04/13

 

12,746,573

 

12,746,573

 

33,634,000

 

Parker-Hannifin Corporation 0.15% due 02/07/13

 

33,633,159

 

33,633,159

 

44,995,000

 

Parker-Hannifin Corporation 0.15% due 02/08/13

 

44,993,688

 

44,993,688

 

36,632,000

 

PepsiCo, Inc. 0.05% due 03/12/13

 

36,630,016

 

36,630,016

 

70,942,000

 

PepsiCo, Inc. 0.07% due 02/20/13

 

70,939,379

 

70,939,379

 

18,820,000

 

PepsiCo, Inc. 0.07% due 02/25/13

 

18,819,122

 

18,819,122

 

27,595,000

 

PepsiCo, Inc. 0.07% due 03/01/13

 

27,593,498

 

27,593,498

 

12,856,000

 

PepsiCo, Inc. 0.08% due 02/19/13

 

12,855,486

 

12,855,486

 

14,029,000

 

PepsiCo, Inc. 0.08% due 02/20/13

 

14,028,408

 

14,028,408

 

53,499,000

 

Philip Morris International, Inc. 0.09% due 03/13/13

 

53,493,650

 

53,493,650

 

29,134,000

 

Philip Morris International, Inc. 0.09% due 03/26/13

 

29,130,140

 

29,130,140

 

34,517,000

 

Philip Morris International, Inc. 0.10% due 02/11/13

 

34,516,041

 

34,516,041

 

35,158,000

 

Philip Morris International, Inc. 0.10% due 02/12/13

 

35,156,926

 

35,156,926

 

33,648,000

 

Philip Morris International, Inc. 0.10% due 03/08/13

 

33,644,729

 

33,644,729

 

25,093,000

 

Philip Morris International, Inc. 0.11% due 02/27/13

 

25,091,007

 

25,091,007

 

37,311,000

 

Philip Morris International, Inc. 0.11% due 03/13/13

 

37,306,440

 

37,306,440

 

15,636,000

 

Philip Morris International, Inc. 0.12% due 02/08/13

 

15,635,635

 

15,635,635

 

35,513,000

 

Philip Morris International, Inc. 0.12% due 02/20/13

 

35,510,751

 

35,510,751

 

32,309,000

 

Philip Morris International, Inc. 0.13% due 02/01/13

 

32,309,000

 

32,309,000

 

16,517,000

 

Philip Morris International, Inc. 0.13% due 02/19/13

 

16,515,926

 

16,515,926

 

28,905,000

 

Precision Castparts Corporation 0.15% due 03/07/13

 

28,900,905

 

28,900,905

 

 

See Notes to Schedule of Investments.

 

FIRST EAGLE FUNDS · QUARTERLY NQ REPORT · January 31, 2013

 

11



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

U.S. Commercial Paper — 13.46% — (continued)

 

 

 

 

 

$

12,819,000

 

Precision Castparts Corporation 0.18% due 02/26/13

 

$

12,817,398

 

$

12,817,398

 

22,918,000

 

Rockwell Collins, Inc. 0.11% due 02/01/13

 

22,918,000

 

22,918,000

 

35,666,000

 

Target Corporation 0.10% due 02/01/13

 

35,666,000

 

35,666,000

 

34,494,000

 

Unilever Capital Corporation 0.09% due 02/01/13

 

34,494,000

 

34,494,000

 

108,448,000

 

Unilever Capital Corporation 0.10% due 02/22/13

 

108,441,674

 

108,441,674

 

32,498,000

 

United Healthcare Company 0.16% due 02/08/13

 

32,496,989

 

32,496,989

 

32,498,000

 

United Healthcare Company 0.16% due 02/11/13

 

32,496,556

 

32,496,556

 

31,366,000

 

United Healthcare Company 0.20% due 03/06/13

 

31,360,250

 

31,360,250

 

74,284,000

 

United Healthcare Company 0.21% due 02/01/13

 

74,284,000

 

74,284,000

 

27,614,000

 

United Healthcare Company 0.21% due 03/01/13

 

27,609,490

 

27,609,490

 

34,494,000

 

United Healthcare Company 0.21% due 03/15/13