N-Q 1 a13-20351_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, 2013

 

 

Date of reporting period:

July 31, 2013

 

 



 

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

 



 

FIRST EAGLE
Global Fund

 

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

 

 

 

 

 

 

 

 

 

 

 

 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

Common Stocks — 75.23%

 

 

 

 

 

 

 

 

 

 

 

U.S. Common Stocks — 33.77%

 

 

 

 

 

 

 

 

 

 

 

Consumer Discretionary 2.97%

 

 

 

 

 

17,414,912

 

Comcast Corporation, Class ‘A’

 

$

296,976,000

 

$

750,756,856

 

6,208,490

 

Omnicom Group, Inc.

 

186,093,077

 

399,019,652

 

3,992,318

 

H&R Block, Inc.

 

67,554,206

 

125,478,555

 

2,485

 

JG Boswell Company

 

573,840

 

2,186,800

 

33,892

 

Mills Music Trust (a)(b)

 

1,015,863

 

984,563

 

183,753

 

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

 

3,151,087

 

918,765

 

 

 

 

 

555,364,073

 

1,279,345,191

 

Consumer Staples 2.94%

 

 

 

 

 

17,479,577

 

Sysco Corporation

 

495,705,689

 

603,220,202

 

7,917,054

 

Lorillard, Inc.

 

229,193,225

 

336,712,307

 

3,258,980

 

Colgate-Palmolive Company

 

125,309,063

 

195,115,132

 

1,693,404

 

Wal-Mart Stores, Inc.

 

82,465,011

 

131,983,908

 

 

 

 

 

932,672,988

 

1,267,031,549

 

Energy 2.18%

 

 

 

 

 

6,224,163

 

ConocoPhillips

 

250,797,600

 

403,699,212

 

5,498,448

 

Devon Energy Corporation

 

312,965,847

 

302,469,625

 

1,442,501

 

Apache Corporation

 

90,693,920

 

115,760,705

 

3,908,035

 

San Juan Basin Royalty Trust (a)

 

138,744,050

 

64,052,694

 

806,395

 

Helmerich & Payne, Inc.

 

17,026,317

 

50,964,164

 

 

 

 

 

810,227,734

 

936,946,400

 

Financials 8.69%

 

 

 

 

 

7,529,993

 

American Express Company

 

317,870,387

 

555,487,584

 

17,571,107

 

Bank of New York Mellon Corporation

 

441,008,507

 

552,611,315

 

2,714

 

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

 

218,995,900

 

471,964,600

 

9,693,682

 

BB&T Corporation

 

245,863,323

 

345,967,511

 

6,847,974

 

Cincinnati Financial Corporation

 

171,457,425

 

335,550,726

 

7,819,459

 

U.S. Bancorp

 

192,949,644

 

291,822,210

 

9,921,397

 

Weyerhaeuser Company, REIT

 

154,182,567

 

281,767,675

 

5,719,208

 

Plum Creek Timber Company, Inc., REIT

 

212,342,604

 

278,982,966

 

4,386,051

 

WR Berkley Corporation

 

117,583,057

 

185,836,981

 

2,858,553

 

Rayonier, Inc., REIT

 

27,837,041

 

167,053,837

 

743,437

 

Visa, Inc., Class ‘A’

 

53,618,674

 

131,595,783

 

202,406

 

Mastercard, Inc., Class ‘A’

 

40,702,513

 

123,591,128

 

40,182

 

Alleghany Corporation (c)

 

13,132,071

 

16,228,706

 

 

 

 

 

2,207,543,713

 

3,738,461,022

 

 

See Notes to Schedule of Investments.

 

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

 

1



 

 

 

 

 

 

 

 

 

 

 

 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

U.S. Common Stocks — 33.77% — (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

Health Care 0.98%

 

 

 

 

 

3,747,270

 

WellPoint, Inc.

 

$

191,846,248

 

$

320,616,421

 

1,059,980

 

Johnson & Johnson

 

59,610,842

 

99,108,130

 

 

 

 

 

251,457,090

 

419,724,551

 

Industrials 5.15%

 

 

 

 

 

13,051,511

 

Cintas Corporation (a)

 

438,387,413

 

620,077,288

 

4,069,880

 

3M Company

 

315,646,157

 

477,926,008

 

3,069,252

 

Lockheed Martin Corporation

 

217,057,860

 

368,678,550

 

3,867,416

 

Northrop Grumman Corporation

 

231,724,655

 

356,034,317

 

3,638,247

 

Alliant Techsystems, Inc. (a)

 

314,316,906

 

338,720,796

 

558,107

 

Unifirst Corporation

 

7,536,171

 

54,705,648

 

 

 

 

 

1,524,669,162

 

2,216,142,607

 

Information Technology 7.57%

 

 

 

 

 

28,001,169

 

Cisco Systems, Inc.

 

451,350,030

 

715,429,868

 

19,924,734

 

Microsoft Corporation

 

501,658,947

 

634,204,283

 

17,326,565

 

Oracle Corporation

 

498,620,686

 

560,514,378

 

23,729,320

 

Intel Corporation

 

444,931,301

 

552,893,156

 

8,019,789

 

Linear Technology Corporation

 

227,165,656

 

325,282,642

 

282,275

 

Google, Inc., Class ‘A’ (c)

 

149,382,648

 

250,547,290

 

2,365,411

 

Automatic Data Processing, Inc.

 

85,148,200

 

170,522,479

 

1,137,229

 

NetApp, Inc.

 

36,048,305

 

46,762,856

 

 

 

 

 

2,394,305,773

 

3,256,156,952

 

Materials 1.58%

 

 

 

 

 

4,172,577

 

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

 

182,102,946

 

209,671,994

 

4,056,879

 

Vulcan Materials Company

 

200,596,336

 

191,403,551

 

1,752,640

 

Martin Marietta Materials, Inc.

 

155,134,877

 

174,562,944

 

1,780,037

 

Newmont Mining Corporation

 

45,037,176

 

53,401,110

 

811,480

 

Deltic Timber Corporation (a)

 

39,544,384

 

48,956,589

 

 

 

 

 

622,415,719

 

677,996,188

 

Utilities 1.71%

 

 

 

 

 

9,696,381

 

FirstEnergy Corporation

 

353,449,107

 

369,141,225

 

3,760,485

 

IDACorp, Inc. (a)

 

124,066,738

 

198,440,793

 

2,491,660

 

Entergy Corporation

 

164,249,120

 

168,187,050

 

 

 

 

 

641,764,965

 

735,769,068

 

Total U.S. Common Stocks

 

9,940,421,217

 

14,527,573,528

 

 

 

 

 

 

 

 

 

International Common Stocks — 41.46%

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia 0.95%

 

 

 

 

 

37,126,221

 

Newcrest Mining Limited

 

792,366,434

 

408,126,036

 

 

 

 

 

 

 

 

 

Austria 0.37%

 

 

 

 

 

3,562,606

 

OMV AG

 

145,201,961

 

157,659,873

 

 

 

 

 

 

 

 

 

Belgium 0.53%

 

 

 

 

 

2,788,865

 

Groupe Bruxelles Lambert SA

 

234,732,253

 

226,950,854

 

 

See Notes to Schedule of Investments.

 

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

 

2



 

 

 

 

 

 

 

 

 

 

 

 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

International Common Stocks — 41.46% — (continued)

 

 

 

 

 

 

 

 

 

 

 

Bermuda 0.37%

 

 

 

 

 

2,875,070

 

Jardine Matheson Holdings Limited

 

$

141,681,818

 

$

157,352,581

 

 

 

 

 

 

 

 

 

Canada 4.71%

 

 

 

 

 

16,009,475

 

Goldcorp, Inc.

 

535,969,039

 

451,947,479

 

13,341,300

 

Canadian Natural Resources Limited

 

384,184,740

 

413,449,108

 

10,681,419

 

Cenovus Energy, Inc.

 

303,548,891

 

316,170,002

 

9,130,439

 

Potash Corporation of Saskatchewan, Inc.

 

351,228,590

 

264,782,731

 

17,645,244

 

Penn West Petroleum Limited

 

273,529,232

 

208,213,879

 

7,004,423

 

Agnico-Eagle Mines Limited

 

224,331,641

 

199,200,853

 

31,567,445

 

Kinross Gold Corporation

 

162,770,296

 

165,097,737

 

1,493,910

 

Postmedia Network Canada Corporation (b)(c)(d)

 

6,692,131

 

3,127,161

 

1,008,427

 

Catalyst Paper Corporation (a)(b)(c)(e)

 

17,346

 

1,178,184

 

 

 

 

 

2,242,271,906

 

2,023,167,134

 

France 6.14%

 

 

 

 

 

8,485,204

 

Total SA

 

432,228,230

 

452,660,408

 

4,179,227

 

Sanofi

 

323,385,924

 

445,731,877

 

10,735,807

 

Bouygues SA

 

391,146,130

 

313,783,860

 

3,330,779

 

Sodexo

 

88,582,313

 

304,239,407

 

6,144,333

 

Compagnie de Saint-Gobain

 

257,667,236

 

284,867,810

 

9,014,634

 

Carrefour SA

 

370,611,753

 

276,669,664

 

11,803,362

 

Société Télévision Francaise 1 (a)

 

184,371,882

 

174,691,428

 

2,044,437

 

Neopost SA (a)

 

184,799,958

 

147,250,858

 

921,669

 

Wendel SA

 

19,716,342

 

106,527,232

 

1,401,821

 

Legrand SA

 

47,735,245

 

72,638,334

 

157,260

 

Robertet SA (a)

 

20,623,058

 

31,590,832

 

42,252

 

Robertet SA CI (b)(f)(g)

 

800,508

 

5,969,496

 

385,000

 

Sabeton SA (a)

 

4,841,233

 

6,602,060

 

12,000,000

 

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

 

0

 

5,747,111

 

104,457

 

Gaumont SA

 

6,087,824

 

5,490,481

 

69,500

 

NSC Groupe (a)(b)

 

12,298,421

 

5,435,683

 

 

 

 

 

2,344,896,057

 

2,639,896,541

 

Germany 2.15%

 

 

 

 

 

7,775,691

 

HeidelbergCement AG

 

424,710,748

 

597,285,020

 

3,703,609

 

Daimler AG

 

169,583,381

 

257,292,927

 

693,440

 

Fraport AG

 

20,976,007

 

44,949,678

 

773,684

 

Hornbach Baumarkt AG

 

21,504,161

 

26,246,394

 

 

 

 

 

636,774,297

 

925,774,019

 

Hong Kong 0.35%

 

 

 

 

 

12,693,580

 

Guoco Group Limited

 

115,086,260

 

148,121,227

 

20,738,780

 

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

 

936,898

 

2,045,640

 

 

 

 

 

116,023,158

 

150,166,867

 

Ireland 0.49%

 

 

 

 

 

10,094,915

 

CRH PLC

 

175,024,030

 

212,078,692

 

 

See Notes to Schedule of Investments.

 

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

 

3



 

 

 

 

 

 

 

 

 

 

 

 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Common Stocks — 41.46% — (continued)

 

 

 

 

 

 

 

 

 

 

 

Israel 0.29%

 

 

 

 

 

15,719,757

 

Israel Chemicals Limited

 

$

156,830,538

 

$

125,615,151

 

 

 

 

 

 

 

 

 

Italy 0.36%

 

 

 

 

 

18,139,395

 

Italcementi S.p.A. RSP

 

249,186,230

 

67,568,874

 

4,682,069

 

Italcementi S.p.A.

 

86,201,872

 

34,569,782

 

1,734,972

 

Italmobiliare S.p.A. RSP (c)

 

121,356,934

 

27,097,325

 

1,021,137

 

Italmobiliare S.p.A. (c)

 

107,360,738

 

24,370,941

 

 

 

 

 

564,105,774

 

153,606,922

 

Japan 14.65%

 

 

 

 

 

11,590,430

 

Secom Company Limited

 

528,330,685

 

639,243,407

 

1,805,290

 

Keyence Corporation

 

330,888,353

 

590,024,308

 

10,093,100

 

KDDI Corporation

 

320,823,747

 

557,692,483

 

2,519,456

 

SMC Corporation

 

272,409,539

 

534,461,251

 

3,169,600

 

Fanuc Corporation

 

295,828,491

 

481,056,644

 

8,116,560

 

Astellas Pharma, Inc.

 

324,707,133

 

435,215,402

 

4,713,790

 

Shimano, Inc. (a)

 

75,715,336

 

425,593,950

 

14,618,720

 

MS&AD Insurance Group Holdings

 

356,085,457

 

379,540,254

 

14,917,300

 

NKSJ Holdings, Inc.

 

402,645,728

 

375,255,948

 

14,298,940

 

Hoya Corporation

 

305,848,299

 

308,732,092

 

11,939,880

 

Mitsubishi Estate Company Limited

 

205,947,588

 

303,771,230

 

2,224,800

 

Hirose Electric Company Limited (a)

 

234,623,569

 

297,442,876

 

7,687,360

 

MISUMI Group, Inc. (a)

 

126,581,105

 

209,398,316

 

5,876,710

 

Nomura Research Institute Limited

 

122,391,890

 

192,669,177

 

4,274,630

 

Nissin Foods Holdings Company Limited

 

152,059,580

 

170,050,902

 

2,555,700

 

Ono Pharmaceutical Company Limited

 

102,994,965

 

164,184,996

 

3,526,280

 

Chofu Seisakusho Company Limited (a)

 

64,322,537

 

73,435,654

 

5,147,000

 

T. Hasegawa Company Limited (a)

 

79,849,658

 

70,915,157

 

924,660

 

Shin-Etsu Chemical Company Limited

 

43,043,581

 

57,797,152

 

1,919,000

 

Seikagaku Corporation

 

20,156,969

 

26,185,109

 

5,740

 

NTT DoCoMo, Inc.

 

8,574,070

 

8,764,478

 

 

 

 

 

4,373,828,280

 

6,301,430,786

 

Malaysia 0.34%

 

 

 

 

 

114,886,480

 

Genting Malaysia Berhad

 

99,078,847

 

147,326,682

 

 

 

 

 

 

 

 

 

Mexico 2.15%

 

 

 

 

 

16,713,544

 

Grupo Televisa S.A.B., ADR

 

327,870,823

 

452,937,042

 

17,363,483

 

Fresnillo PLC

 

235,978,628

 

271,802,165

 

6,401,020

 

Industrias Peñoles S.A.B. de C.V.

 

7,339,323

 

200,889,619

 

 

 

 

 

571,188,774

 

925,628,826

 

Netherlands 0.19%

 

 

 

 

 

10,519,454

 

TNT Express NV

 

115,928,316

 

82,693,817

 

 

 

 

 

 

 

 

 

Singapore 0.05%

 

 

 

 

 

13,467,250

 

ComfortDelGro Corporation Limited

 

3,279,183

 

21,194,083

 

 

 

 

 

 

 

 

 

South Africa 0.91%

 

 

 

 

 

14,839,872

 

AngloGold Ashanti Limited, ADR

 

245,236,557

 

195,441,114

 

 

See Notes to Schedule of Investments.

 

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

 

4



 

 

 

 

 

 

 

 

 

 

 

 

SHARES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Common Stocks — 41.46% — (continued)

 

 

 

 

 

 

 

 

 

 

 

South Africa 0.91% — (continued)

 

 

 

 

 

25,019,071

 

Gold Fields Limited, ADR

 

$

233,463,377

 

$

150,864,998

 

8,092,307

 

Harmony Gold Mining Company Limited, ADR

 

69,852,451

 

31,155,382

 

4,769,860

 

Sibanye Gold Limited, ADR (c)

 

28,713,214

 

14,834,265

 

 

 

 

 

577,265,599

 

392,295,759

 

South Korea 0.85%

 

 

 

 

 

3,898,597

 

KT&G Corporation

 

216,376,344

 

262,700,040

 

51,900

 

Lotte Confectionery Company Limited

 

21,157,499

 

73,270,045

 

39,989

 

Namyang Dairy Products Company Limited (a)

 

7,325,466

 

31,288,543

 

 

 

 

 

244,859,309

 

367,258,628

 

Spain 0.43%

 

 

 

 

 

3,295,234

 

Red Electrica Corporation SA

 

165,292,750

 

183,922,912

 

 

 

 

 

 

 

 

 

Sweden 0.64%

 

 

 

 

 

5,939,940

 

Investor AB, Class ‘A’

 

116,378,542

 

173,692,315

 

3,394,798

 

Investor AB, Class ‘B’

 

63,888,333

 

102,185,339

 

 

 

 

 

180,266,875

 

275,877,654

 

Switzerland 1.86%

 

 

 

 

 

5,091,560

 

Nestlé SA

 

146,056,200

 

344,957,385

 

4,327,670

 

Pargesa Holding SA

 

272,881,781

 

309,804,028

 

25,153

 

Lindt & Spruengli AG PC

 

19,779,295

 

98,823,608

 

388,803

 

Kuehne & Nagel International AG

 

7,503,142

 

47,053,796

 

 

 

 

 

446,220,418

 

800,638,817

 

Thailand 0.48%

 

 

 

 

 

30,023,200

 

Bangkok Bank PCL, NVDR

 

97,800,376

 

196,637,572

 

577,000

 

OHTL PCL (b)

 

2,636,473

 

11,060,703

 

 

 

 

 

100,436,849

 

207,698,275

 

United Kingdom 2.20%

 

 

 

 

 

56,493,179

 

WM Morrison Supermarkets PLC

 

249,447,134

 

248,453,315

 

7,175,381

 

Berkeley Group Holdings PLC (a)

 

86,127,761

 

246,582,293

 

7,387,420

 

GlaxoSmithKline PLC

 

140,774,624

 

189,249,861

 

4,355,040

 

Willis Group Holdings PLC

 

119,957,625

 

186,395,712

 

3,052,693

 

Anglo American PLC

 

74,109,213

 

65,386,257

 

3,427,266

 

Rank Group PLC

 

8,536,690

 

8,368,036

 

 

 

 

 

678,953,047

 

944,435,474

 

Total International Common Stocks

 

15,106,506,473

 

17,830,796,383

 

Total Common Stocks

 

25,046,927,690

 

32,358,369,911

 

 

 

 

 

 

 

International Preferred Stock — 0.28%

 

 

 

 

 

 

 

 

 

 

 

Germany 0.28%

 

 

 

 

 

1,754,484

 

Hornbach Holding AG

 

63,837,360

 

119,971,580

 

 

 

 

 

 

 

 

 

Warrant — 0.24%

 

 

 

 

 

 

 

 

 

 

 

United States — 0.24%

 

 

 

 

 

5,806,899

 

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

 

75,108,859

 

104,233,837

 

 

See Notes to Schedule of Investments.

 

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

 

5



 

 

 

 

 

 

 

 

 

 

 

 

OUNCES

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

Commodity — 3.38%

 

 

 

 

 

1,097,527

 

Gold bullion (c)

 

$

799,578,304

 

$

1,452,797,123

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes and Bonds — 0.35%

 

 

 

 

 

 

 

 

 

 

 

U.S. Corporate Bonds — 0.07%

 

 

 

 

 

$

5,467,000

 

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

 

4,787,072

 

5,220,985

 

22,554,000

 

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

 

22,127,362

 

23,428,193

 

Total U.S. Corporate Bonds

 

26,914,434

 

28,649,178

 

 

 

 

 

 

 

International Notes and Bonds — 0.28%

 

 

 

 

 

 

 

 

 

 

 

International Corporate Notes and Bonds — 0.22%

 

 

 

 

 

 

 

 

 

 

 

Canada 0.02%

 

 

 

 

 

17,593,454
USD

 

Catalyst Paper Corporation 11.00% due 10/30/17 (e)(i)

 

19,934,016

 

10,600,056

 

 

 

 

 

 

 

 

 

France 0.17%

 

 

 

 

 

15,649,147
EUR

 

Emin Leydier SA FRN 7.32% due 07/31/16 (b)(e)(f)(j)

 

22,293,878

 

20,818,839

 

17,256,032
EUR

 

FINEL 9.50% due 06/30/17 (b)(e)(f)

 

21,555,398

 

17,217,419

 

12,050,000
EUR

 

Wendel SA 4.375% due 08/09/17

 

12,676,820

 

16,801,793

 

10,000,000
EUR

 

Wendel SA 4.875% due 09/21/15

 

11,974,515

 

14,068,449

 

3,500,000
EUR

 

Wendel SA 4.875% due 05/26/16

 

3,339,691

 

4,959,717

 

 

 

 

 

71,840,302

 

73,866,217

 

Norway 0.03%

 

 

 

 

 

5,500,000
USD

 

Den Norske Bank ASA FRN 0.625% due 08/30/13 (b)(j)

 

3,982,221

 

3,074,500

 

3,500,000
USD

 

Den Norske Creditbank FRN 0.607% due 08/30/13 (b)(j)

 

2,664,113

 

1,960,000

 

3,170,000
USD

 

Den Norske Creditbank FRN 0.625% due 08/30/13 (b)(j)

 

2,116,126

 

1,768,885

 

10,000,000
USD

 

Nordea Bank Norge ASA FRN 0.625% due 11/21/13 (b)(j)

 

7,007,594

 

5,750,000

 

 

 

 

 

15,770,054

 

12,553,385

 

Total International Corporate Notes and Bonds

 

107,544,372

 

97,019,658

 

 

 

 

 

 

 

International Government Bond — 0.06%

 

 

 

 

 

 

 

 

 

 

 

South Korea 0.06%

 

 

 

 

 

25,660,320,000
KRW

 

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

 

24,449,785

 

24,038,713

 

Total International Notes and Bonds

 

131,994,157

 

121,058,371

 

Total Notes and Bonds

 

158,908,591

 

149,707,549

 

 

See Notes to Schedule of Investments.

 

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

 

6



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

Commercial Paper — 20.33%

 

 

 

 

 

 

 

 

 

 

 

 

 

International Commercial Paper — 6.46%

 

 

 

 

 

 

 

 

 

 

 

 

 

Canada 0.31%

 

 

 

 

 

18,672,000
USD

 

Canadian Natural Resources Limited 0.30% due 08/08/13

 

$

18,670,910

 

$

18,670,910

 

28,441,000
USD

 

Suncor Energy, Inc. 0.27% due 08/14/13

 

28,438,227

 

28,438,227

 

58,298,000
USD

 

Suncor Energy, Inc. 0.29% due 09/12/13

 

58,278,276

 

58,278,276

 

27,964,000
USD

 

Suncor Energy, Inc. 0.29% due 09/23/13

 

27,952,061

 

27,952,061

 

 

 

 

 

 

 

 

 

France 1.26%

 

 

 

 

 

22,011,000
USD

 

Air Liquide SA 0.15% due 08/09/13

 

22,010,266

 

22,010,266

 

38,316,000
USD

 

Air Liquide SA 0.15% due 09/27/13

 

38,306,900

 

38,306,900

 

16,396,000
USD

 

Air Liquide SA 0.17% due 09/06/13

 

16,393,213

 

16,393,213

 

24,951,000
USD

 

Air Liquide SA 0.17% due 09/13/13

 

24,945,934

 

24,945,934

 

34,463,000
USD

 

EI du Pont de Nemours & Company 0.08% due 09/16/13

 

34,459,477

 

34,459,477

 

26,569,000
USD

 

EI du Pont de Nemours & Company 0.08% due 09/19/13

 

26,566,107

 

26,566,107

 

35,021,000
USD

 

EI du Pont de Nemours & Company 0.09% due 09/13/13

 

35,017,235

 

35,017,235

 

50,589,000
USD

 

GDF Suez SA 0.19% due 08/14/13

 

50,585,529

 

50,585,529

 

19,008,000
USD

 

GDF Suez SA 0.19% due 08/16/13

 

19,006,495

 

19,006,495

 

68,701,000
USD

 

Sanofi 0.12% due 09/18/13

 

68,690,466

 

68,690,466

 

35,009,000
USD

 

Sanofi 0.13% due 09/19/13

 

35,002,805

 

35,002,805

 

50,000,000
USD

 

Électricité de France SA 0.16% due 09/06/13

 

49,992,000

 

49,991,778

 

38,738,000
USD

 

Électricité de France SA 0.17% due 09/09/13

 

38,730,866

 

38,730,866

 

22,540,000
USD

 

Électricité de France SA 0.18% due 09/20/13

 

22,534,365

 

22,534,365

 

39,096,000
USD

 

Électricité de France SA 0.18% due 09/30/13

 

39,084,271

 

39,083,348

 

20,418,000
USD

 

Électricité de France SA 0.18% due 10/01/13

 

20,411,773

 

20,411,213

 

 

 

 

 

 

 

 

 

Germany 1.03%

 

 

 

 

 

64,134,000
USD

 

Henkel Corporation 0.13% due 09/10/13

 

64,124,736

 

64,124,736

 

 

See Notes to Schedule of Investments.

 

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

 

7



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Commercial Paper — 6.46% — (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

Germany 1.03% — (continued)

 

 

 

 

 

55,814,000
USD

 

Henkel Corporation 0.15% due 09/10/13

 

$

 55,804,698

 

$

55,804,698

 

14,938,000
USD

 

Henkel Corporation 0.15% due 10/10/13

 

14,933,643

 

14,931,961

 

34,783,000
USD

 

Siemens Company 0.06% due 08/26/13

 

34,781,551

 

34,781,551

 

75,354,000
USD

 

Siemens Company 0.07% due 09/24/13

 

75,346,088

 

75,346,088

 

46,360,000
USD

 

Siemens Company 0.08% due 08/02/13

 

46,359,897

 

46,359,897

 

39,020,000
USD

 

Siemens Company 0.08% due 08/05/13

 

39,019,653

 

39,019,653

 

39,020,000
USD

 

Siemens Company 0.08% due 08/06/13

 

39,019,566

 

39,019,566

 

71,287,000
USD

 

Siemens Company 0.10% due 09/12/13

 

71,278,683

 

71,278,683

 

 

 

 

 

 

 

 

 

Italy 0.48%

 

 

 

 

 

31,263,000
USD

 

Eni S.p.A. 0.39% due 08/26/13

 

31,254,750

 

31,254,750

 

65,655,000
USD

 

Eni S.p.A. 0.40% due 08/05/13

 

65,652,155

 

65,652,155

 

41,659,000
USD

 

Eni S.p.A. 0.40% due 09/11/13

 

41,640,497

 

41,640,497

 

66,701,000
USD

 

Eni S.p.A. 0.44% due 09/19/13

 

66,661,961

 

66,661,961

 

 

 

 

 

 

 

 

 

Japan 0.67%

 

 

 

 

 

1,038,000
USD

 

Hitachi International Treasury 0.27% due 08/01/13

 

1,038,000

 

1,037,992

 

27,198,000
USD

 

Honda Corporation 0.07% due 08/09/13

 

27,197,577

 

27,197,577

 

81,349,000
USD

 

Honda Corporation 0.10% due 08/08/13

 

81,347,418

 

81,347,418

 

46,691,000
USD

 

Honda Corporation 0.10% due 08/23/13

 

46,688,147

 

46,688,147

 

68,702,000
USD

 

Honda Corporation 0.10% due 09/25/13

 

68,691,504

 

68,691,504

 

63,662,000
USD

 

Honda Corporation 0.12% due 09/19/13

 

63,651,602

 

63,651,602

 

 

 

 

 

 

 

 

 

Luxembourg 0.11%

 

 

 

 

 

47,089,000
USD

 

Michelin Luxembourg S.C.S. 0.23% due 08/09/13

 

47,086,593

 

47,086,593

 

 

 

 

 

 

 

 

 

Panama 0.09%

 

 

 

 

 

39,636,000
USD

 

Carnival Corporation 0.27% due 08/13/13

 

39,632,433

 

39,632,433

 

 

See Notes to Schedule of Investments.

 

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

 

8



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Commercial Paper — 6.46% — (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

Switzerland 0.91%

 

 

 

 

 

57,796,000
USD

 

Nestlé SA 0.08% due 09/20/13

 

$

57,789,578

 

$

57,789,578

 

32,161,000
USD

 

Nestlé SA 0.10% due 08/14/13

 

32,159,839

 

32,159,839

 

31,925,000
USD

 

Nestlé SA 0.10% due 09/05/13

 

31,921,896

 

31,921,896

 

18,729,000
USD

 

Nestlé SA 0.10% due 09/18/13

 

18,726,503

 

18,726,503

 

25,592,000
USD

 

Nestlé SA 0.12% due 09/05/13

 

25,589,014

 

25,589,014

 

13,635,000
USD

 

Roche Holdings, Inc. 0.06% due 08/06/13

 

13,634,886

 

13,634,886

 

35,101,000
USD

 

Roche Holdings, Inc. 0.07% due 08/07/13

 

35,100,591

 

35,100,591

 

35,694,000
USD

 

Roche Holdings, Inc. 0.08% due 08/01/13

 

35,694,000

 

35,694,000

 

35,104,000
USD

 

Roche Holdings, Inc. 0.08% due 08/15/13

 

35,102,908

 

35,102,908

 

13,340,000
USD

 

Roche Holdings, Inc. 0.08% due 09/16/13

 

13,338,636

 

13,338,636

 

15,915,000
USD

 

Roche Holdings, Inc. 0.08% due 09/17/13

 

15,913,338

 

15,913,338

 

26,821,000
USD

 

Roche Holdings, Inc. 0.08% due 09/20/13

 

26,818,020

 

26,818,020

 

22,478,000
USD

 

Roche Holdings, Inc. 0.09% due 10/07/13

 

22,474,235

 

22,474,788

 

26,580,000
USD

 

Roche Holdings, Inc. 0.09% due 10/15/13

 

26,575,016

 

26,575,492

 

 

 

 

 

 

 

 

 

United Kingdom 1.60%

 

 

 

 

 

35,325,000
USD

 

AstraZeneca PLC 0.09% due 09/18/13

 

35,320,761

 

35,320,761

 

29,318,000
USD

 

AstraZeneca PLC 0.09% due 10/21/13

 

29,312,064

 

29,305,379

 

34,959,000
USD

 

AstraZeneca PLC 0.09% due 10/23/13

 

34,951,746

 

34,943,338

 

59,515,000
USD

 

AstraZeneca PLC 0.10% due 08/19/13

 

59,512,024

 

59,512,024

 

57,110,000
USD

 

AstraZeneca PLC 0.10% due 09/05/13

 

57,104,448

 

57,104,448

 

35,104,000
USD

 

AstraZeneca PLC 0.10% due 09/10/13

 

35,100,099

 

35,100,099

 

38,716,000
USD

 

AstraZeneca PLC 0.10% due 09/23/13

 

38,710,300

 

38,710,300

 

69,865,000
USD

 

AstraZeneca PLC 0.12% due 08/02/13

 

69,864,767

 

69,864,767

 

41,210,000
USD

 

AstraZeneca PLC 0.13% due 10/15/13

 

41,198,839

 

41,194,254

 

 

See Notes to Schedule of Investments.

 

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

 

9



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

International Commercial Paper — 6.46% — (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

United Kingdom 1.60% — (continued)

 

 

 

 

 

70,042,000 USD

 

GlaxoSmithKline PLC 0.10% due 08/15/13

 

$

70,039,276

 

$

70,039,276

 

35,644,000 USD

 

GlaxoSmithKline PLC 0.11% due 08/01/13

 

35,644,000

 

35,644,000

 

74,688,000 USD

 

GlaxoSmithKline PLC 0.11% due 08/20/13

 

74,683,664

 

74,683,664

 

35,644,000 USD

 

GlaxoSmithKline PLC 0.12% due 08/15/13

 

35,642,337

 

35,642,337

 

51,740,000 USD

 

Reckitt Benckiser 0.08% due 08/09/13

 

51,739,080

 

51,739,080

 

20,976,000 USD

 

Reed Elsevier, Inc. 0.20% due 08/23/13

 

20,973,436

 

20,973,436

 

Total International Commercial Paper

 

2,776,923,629

 

2,776,901,585

 

 

 

 

 

 

 

 

 

U.S. Commercial Paper — 13.87%

 

 

 

 

 

$

58,396,000

 

3M Company 0.05% due 08/19/13

 

58,394,540

 

58,394,540

 

16,612,000

 

3M Company 0.05% due 08/22/13

 

16,611,515

 

16,611,515

 

50,000,000

 

3M Company 0.05% due 09/25/13

 

49,996,181

 

49,996,181

 

36,334,000

 

3M Company 0.06% due 09/25/13

 

36,330,669

 

36,330,669

 

16,612,000

 

3M Company 0.07% due 09/25/13

 

16,610,223

 

16,610,223

 

32,633,000

 

3M Company 0.08% due 09/13/13

 

32,629,882

 

32,629,882

 

9,000,000

 

Abbott Laboratories 0.08% due 08/22/13

 

8,999,580

 

8,999,580

 

13,870,000

 

Abbott Laboratories 0.09% due 10/01/13

 

13,867,885

 

13,868,519

 

23,412,000

 

Abbott Laboratories 0.10% due 08/27/13

 

23,410,309

 

23,410,309

 

17,991,000

 

Abbott Laboratories 0.10% due 09/03/13

 

17,989,351

 

17,989,351

 

24,515,000

 

Abbott Laboratories 0.10% due 09/24/13

 

24,511,323

 

24,511,323

 

68,970,000

 

Abbott Laboratories 0.10% due 10/08/13

 

68,956,972

 

68,960,882

 

19,548,000

 

Abbott Laboratories 0.10% due 10/15/13

 

19,543,927

 

19,544,864

 

40,000,000

 

Abbott Laboratories 0.10% due 10/28/13

 

39,990,222

 

39,991,200

 

24,526,000

 

Abbott Laboratories 0.11% due 08/12/13

 

24,525,176

 

24,525,176

 

33,808,000

 

Abbott Laboratories 0.11% due 08/27/13

 

33,805,314

 

33,805,314

 

23,412,000

 

Abbott Laboratories 0.11% due 09/09/13

 

23,409,210

 

23,409,210

 

23,873,000

 

Abbott Laboratories 0.11% due 09/16/13

 

23,869,645

 

23,869,645

 

51,820,000

 

Abbott Laboratories 0.11% due 10/21/13

 

51,807,175

 

51,810,320

 

15,492,000

 

Abbott Laboratories 0.12% due 09/09/13

 

15,489,986

 

15,489,986

 

37,344,000

 

Air Products 0.09% due 08/08/13

 

37,343,346

 

37,343,346

 

19,859,000

 

Air Products 0.10% due 08/28/13

 

19,857,511

 

19,857,511

 

21,610,000

 

AON Corporation 0.36% due 09/17/13

 

21,600,125

 

21,600,125

 

25,434,000

 

Apache Corporation 0.30% due 08/12/13

 

25,431,669

 

25,431,669

 

207,000

 

Arrow Electronics, Inc. 0.51% due 08/01/13

 

207,000

 

206,997

 

13,984,000

 

Baker Hughes, Inc. 0.07% due 08/08/13

 

13,983,810

 

13,983,810

 

34,022,000

 

BHP Billiton Finance USA Limited 0.09% due 08/06/13

 

34,021,575

 

34,021,575

 

35,114,000

 

BHP Billiton Finance USA Limited 0.09% due 08/14/13

 

35,112,859

 

35,112,859

 

36,436,000

 

BHP Billiton Finance USA Limited 0.10% due 08/21/13

 

36,433,976

 

36,433,976

 

59,683,000

 

BHP Billiton Finance USA Limited 0.10% due 08/22/13

 

59,679,518

 

59,679,518

 

18,167,000

 

BHP Billiton Finance USA Limited 0.10% due 09/06/13

 

18,165,183

 

18,165,183

 

77,432,000

 

BHP Billiton Finance USA Limited 0.11% due 08/16/13

 

77,428,451

 

77,428,451

 

 

See Notes to Schedule of Investments.

 

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

 

10



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

U.S. Commercial Paper — 13.87% — (continued)

 

 

 

 

 

$

33,351,000

 

BHP Billiton Finance USA Limited 0.11% due 08/19/13

 

$

33,349,166

 

$

33,349,166

 

34,022,000

 

BHP Billiton Finance USA Limited 0.11% due 09/09/13

 

34,017,946

 

34,017,946

 

57,474,000

 

BHP Billiton Finance USA Limited 0.12% due 09/11/13

 

57,466,145

 

57,466,145

 

56,195,000

 

Caterpillar Financial Services Company 0.09% due 08/12/13

 

56,193,455

 

56,193,455

 

69,919,000

 

Caterpillar Financial Services Company 0.09% due 09/23/13

 

69,909,736

 

69,909,736

 

86,480,000

 

Caterpillar Financial Services Company 0.12% due 08/13/13

 

86,476,685

 

86,476,685

 

26,064,000

 

Celgene Corporation 0.31% due 10/16/13

 

26,046,943

 

26,046,550

 

13,946,000

 

Chevron Corporation 0.07% due 08/06/13

 

13,945,864

 

13,945,864

 

40,149,000

 

Chevron Corporation 0.09% due 08/23/13

 

40,146,792

 

40,146,792

 

37,344,000

 

Church & Dwight Company, Inc. 0.32% due 09/13/13

 

37,329,726

 

37,329,726

 

36,502,000

 

Coca-Cola Company 0.11% due 08/14/13

 

36,500,550

 

36,500,550

 

50,446,000

 

Coca-Cola Company 0.11% due 09/11/13

 

50,439,680

 

50,439,680

 

36,339,000

 

Coca-Cola Company 0.11% due 10/09/13

 

36,331,338

 

36,334,054

 

33,535,000

 

Coca-Cola Company 0.12% due 08/05/13

 

33,534,553

 

33,534,553

 

54,190,000

 

Coca-Cola Company 0.12% due 08/06/13

 

54,189,097

 

54,189,097

 

45,628,000

 

Coca-Cola Company 0.12% due 08/21/13

 

45,624,958

 

45,624,958

 

63,212,000

 

Coca-Cola Company 0.12% due 09/13/13

 

63,202,940

 

63,202,940

 

35,325,000

 

Coca-Cola Company 0.12% due 10/17/13

 

35,315,933

 

35,319,030

 

53,106,000

 

Coca-Cola Company 0.12% due 10/22/13

 

53,091,485

 

53,095,836

 

55,906,000

 

Coca-Cola Company 0.13% due 08/20/13

 

55,902,164

 

55,902,164

 

32,580,000

 

Colgate-Palmolive Company 0.03% due 08/01/13

 

32,580,000

 

32,580,000

 

35,325,000

 

Colgate-Palmolive Company 0.04% due 08/05/13

 

35,324,843

 

35,324,843

 

21,022,000

 

Colgate-Palmolive Company 0.04% due 08/16/13

 

21,021,650

 

21,021,650

 

20,344,000

 

ConocoPhillips 0.11% due 08/19/13

 

20,342,881

 

20,342,881

 

23,370,000

 

ConocoPhillips 0.13% due 08/09/13

 

23,369,325

 

23,369,325

 

32,535,000

 

ConocoPhillips 0.15% due 10/08/13

 

32,525,782

 

32,528,828

 

25,000,000

 

Deere & Company 0.07% due 08/12/13

 

24,999,465

 

24,999,465

 

44,524,000

 

Deere & Company 0.08% due 09/12/13

 

44,519,844

 

44,519,844

 

15,326,000

 

Devon Energy Corporation 0.21% due 08/21/13

 

15,324,212

 

15,324,212

 

15,871,000

 

Devon Energy Corporation 0.30% due 08/16/13

 

15,869,016

 

15,869,016

 

710,000

 

Duke Energy Corporation 0.20% due 08/01/13

 

710,000

 

709,996

 

30,561,000

 

Duke Energy Corporation 0.26% due 08/07/13

 

30,559,676

 

30,559,676

 

10,392,000

 

Emerson Electric Company 0.05% due 09/11/13

 

10,391,408

 

10,391,408

 

21,208,000

 

Emerson Electric Company 0.06% due 08/30/13

 

21,206,975

 

21,206,975

 

24,045,000

 

Emerson Electric Company 0.06% due 09/03/13

 

24,043,678

 

24,043,678

 

22,406,000

 

Emerson Electric Company 0.07% due 08/14/13

 

22,405,434

 

22,405,434

 

35,694,000

 

Exxon Mobil Corporation 0.05% due 08/01/13

 

35,694,000

 

35,694,000

 

35,694,000

 

Exxon Mobil Corporation 0.05% due 08/02/13

 

35,693,950

 

35,693,950

 

94,093,000

 

Exxon Mobil Corporation 0.05% due 08/09/13

 

94,091,955

 

94,091,955

 

70,695,000

 

Exxon Mobil Corporation 0.06% due 09/20/13

 

70,689,109

 

70,689,109

 

71,989,000

 

Exxon Mobil Corporation 0.07% due 08/06/13

 

71,988,300

 

71,988,300

 

59,683,000

 

Exxon Mobil Corporation 0.07% due 08/08/13

 

59,682,188

 

59,682,188

 

36,436,000

 

Exxon Mobil Corporation 0.07% due 08/13/13

 

36,435,150

 

36,435,150

 

29,875,000

 

Exxon Mobil Corporation 0.07% due 09/13/13

 

29,872,502

 

29,872,502

 

 

See Notes to Schedule of Investments.

 

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

 

11



 

 

 

 

 

 

 

 

 

 

 

 

PRINCIPAL

 

DESCRIPTION

 

COST

 

VALUE

 

 

 

 

 

 

 

 

 

U.S. Commercial Paper — 13.87% — (continued)

 

 

 

 

 

$

75,000,000

 

Exxon Mobil Corporation 0.07% due 09/30/13

 

$

 74,991,250

 

$

74,979,540

 

32,993,000

 

General Electric Company 0.03% due 08/22/13

 

32,992,423

 

32,992,423

 

33,651,000

 

General Electric Company 0.05% due 09/17/13

 

33,648,803

 

33,648,803

 

32,580,000

 

General Electric Company 0.06% due 09/17/13

 

32,577,448

 

32,577,448

 

36,334,000

 

General Electric Company 0.06% due 09/20/13

 

36,330,972

 

36,330,972

 

42,417,000

 

Google, Inc. 0.05% due 08/07/13

 

42,416,647

 

42,416,647

 

73,295,000

 

Google, Inc. 0.05% due 09/25/13

 

73,289,401

 

73,289,401

 

25,653,000

 

Google, Inc. 0.07% due 10/23/13

 

25,648,860

 

25,644,978

 

71,388,000

 

Google, Inc. 0.08% due 09/04/13

 

71,382,606

 

71,382,606

 

463,000

 

Hasbro, Inc. 0.22% due 08/01/13

 

463,000

 

462,997

 

33,808,000

 

Honeywell International, Inc. 0.10% due 09/24/13

 

33,802,929

 

33,802,929

 

73,318,000

 

Johnson & Johnson 0.04% due 08/21/13

 

73,316,371

 

73,316,371

 

74,480,000

 

Johnson & Johnson 0.04% due 09/04/13

 

74,477,186

 

74,477,186

 

33,904,000

 

Johnson & Johnson 0.04% due 09/06/13

 

33,902,644

 

33,902,644

 

65,540,000

 

Johnson & Johnson 0.05% due 08/07/13

 

65,539,454

 

65,539,454

 

65,540,000

 

Johnson & Johnson 0.05% due 08/12/13

 

65,538,999

 

65,538,999

 

13,914,000

 

Mattel, Inc. 0.14% due 08/01/13

 

13,914,000

 

13,914,000

 

17,231,000

 

Medtronic, Inc. 0.05% due 08/23/13

 

17,230,473

 

17,230,473

 

73,295,000

 

Medtronic, Inc. 0.06% due 08/20/13

 

73,292,679

 

73,292,679

 

20,000,000

 

Medtronic, Inc. 0.06% due 09/24/13

 

19,998,200

 

19,998,200

 

32,580,000

 

Merck & Company, Inc. 0.07% due 09/18/13

 

32,576,959

 

32,576,959

 

32,580,000

 

Merck & Company, Inc. 0.07% due 09/23/13

 

32,576,642

 

32,576,642

 

32,580,000

 

Merck & Company, Inc. 0.07% due 09/24/13

 

32,576,579

 

32,576,579

 

70,414,000

 

Merck & Company, Inc. 0.10% due 08/16/13

 

70,411,066

 

70,411,066

 

35,207,000

 

Merck & Company, Inc. 0.10% due 08/19/13

 

35,205,240

 

35,205,240

 

35,207,000

 

Merck & Company, Inc. 0.10% due 08/20/13

 

35,205,142

 

35,205,142

 

35,207,000

 

Merck & Company, Inc. 0.10% due 08/22/13

 

35,204,946

 

35,204,946

 

17,552,000

 

MetLife 0.13% due 08/13/13

 

17,551,239

 

17,551,239

 

35,347,000

 

MetLife 0.14% due 09/18/13

 

35,340,402

 

35,340,402

 

42,584,000

 

MetLife 0.14% due 10/09/13