First Eagle

Q3 2019 13F · by Kimball Brooker, portfolio manager

As of: Sep 30, 2019
Filed: Nov 12, 2019
US stock: $35.2B · prev $37.0B
Positions: 102 · prev 144
Options notional: $11M
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves150 since the prior filing

+2.7 pp in · −2.8 pp out

New 5 +1.00 pp
Added 24 +1.68 pp
Trimmed 62 −0.79 pp
Exited 47 −2.05 pp

Options: 12 moves on a notional base, in the table below.

The book

Diversified · behaves like 48 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 10% a year, about 9.9 years per position

Low
Moderate
High

Top 5 positions20% of US stock

ORCL Oracle Corp trimmed−0.04 pp trimmed−0.044.9%
CMCSA Comcast Corp trimmed+0.25 pp trimmed+0.254.2%
XOM Exxon Mobil Corp added+0.12 pp added+0.124.0%
WY Weyerhaeuser Company trimmed+0.29 pp trimmed+0.293.4%
NTR Nutrien Ltd. trimmed−0.27 pp trimmed−0.273.0%

Positions102 in this filing · 47 exited


ORCLOracle Corp	4.90%	31,356,052	$1.7B	trimmed−2%	−0.04 pp	26 q
CMCSAComcast Corp	4.18%	32,668,837	$1.5B	trimmed−5%	+0.25 pp	26 q
XOMExxon Mobil Corp	4.02%	20,041,907	$1.4B	added+6%	+0.12 pp	26 q
WYWeyerhaeuser Company	3.44%	43,728,615	$1.2B	trimmed−1%	+0.29 pp	26 q
NTRNutrien Ltd.	2.99%	21,116,284	$1.1B	trimmed−6%	−0.27 pp	7 q
SLBSLB Limited	2.76%	28,473,966	$973M	trimmed−9%	−0.58 pp	26 q
PMPhilip Morris International Inc.	2.69%	12,447,428	$945M	added+6%	+0.20 pp	6 q
CLColgate-Palmolive Company	2.65%	12,710,231	$934M	trimmed−1%	+0.17 pp	26 q
BNYBank of New York Mellon Corporation	2.43%	18,905,029	$855M	added+4%	+0.26 pp	26 q
ABXBarrick Mining Corporation	2.36%	47,984,558	$832M	trimmed−1%	+0.30 pp	26 q
99952EURLinde PLC/OLD	2.30%	4,166,778	$808M	trimmed−10%	−0.22 pp	4 q
NEMNewmont Corporation	2.24%	20,816,497	$789M	trimmed−1%	+0.05 pp	26 q
MMM3M Company	2.21%	4,738,569	$779M	added+21%	+0.38 pp	26 q
DEDeere & Company	2.17%	4,527,410	$764M	trimmed−5%	+0.03 pp	21 q
GLDSPDR Gold Trust, SPDR Gold Shares	2.14%	5,421,763	$753M	trimmed−17%	−0.21 pp	26 q
BBTTruist Financial Corporation	1.97%	12,974,524	$692M	trimmed−1%	+0.24 pp	26 q
OMCOmnicom Group Inc.	1.87%	8,400,532	$658M	trimmed−1%	0.00 pp	26 q
FTITechnipFMC plc	1.86%	27,082,863	$654M	trimmed−11%	−0.27 pp	11 q
WTWWillis Towers Watson Public Limited Company	1.84%	3,350,717	$647M	trimmed−9%	−0.06 pp	15 q
MSFTMicrosoft Corp	1.83%	4,630,709	$644M	trimmed−2%	+0.11 pp	26 q
USBU.S. Bancorp	1.83%	11,634,817	$644M	trimmed−1%	+0.17 pp	26 q
WPMWheaton Precious Metals Corp.	1.80%	24,163,232	$634M	trimmed−14%	−0.04 pp	10 q
CHRWC.H. Robinson Worldwide, Inc.	1.78%	7,374,237	$625M	added+7%	+0.22 pp	11 q
IMOImperial Oil Limited	1.71%	23,115,373	$602M	added+4%	+0.04 pp	17 q
FLSFlowserve Corporation	1.60%	12,062,932	$563M	trimmed−1%	−0.13 pp	19 q
WRBW.R. Berkley Corporation	1.51%	7,358,960	$532M	trimmed−4%	+0.15 pp	26 q
NOVNOV Inc.	1.51%	25,019,229	$530M	added+1%	+0.02 pp	26 q
AXPAmerican Express Company	1.45%	4,313,236	$510M	trimmed−3%	−0.03 pp	26 q
WFCWells Fargo & Co.	1.44%	10,070,535	$508M	added+6%	+0.22 pp	3 q
YAlleghany Corporation	1.42%	625,064	$499M	trimmed−2%	+0.25 pp	26 q
TXNTexas Instruments Incorporated	1.40%	3,824,654	$494M	trimmed−2%	+0.19 pp	17 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	1.35%	10,248,292	$476M	trimmed−1%	+0.26 pp	5 q
TDCTeradata Corporation	1.32%	14,991,239	$465M	trimmed−3%	−0.17 pp	24 q
ADIAnalog Devices, Inc.	1.29%	4,077,062	$456M	trimmed−3%	0.00 pp	19 q
UNPUnion Pacific Corp.	1.28%	2,790,682	$452M	trimmed−20%	−0.31 pp	17 q
UHSUniversal Health Services, Inc. Class B	1.26%	2,976,880	$443M	trimmed−1%	+0.20 pp	6 q
AEMAgnico Eagle Mines Ltd.	1.23%	8,099,461	$434M	trimmed−28%	−0.34 pp	26 q
ELVElevance Health, Inc.	1.13%	1,662,932	$399M	trimmed−1%	−0.15 pp	20 q
METAMeta Platforms, Inc. Class A	1.11%	2,192,495	$390M	trimmed−1%	−0.04 pp	6 q
BRK.ABerkshire Hathaway Inc.	1.08%	1,220	$380M	trimmed−1%	+0.02 pp	26 q
BROBrown & Brown, Inc.	1.03%	10,042,419	$362M	trimmed−11%	+0.01 pp	22 q
CMICummins Inc.	1.01%	2,195,128	$357M	trimmed−5%	−0.06 pp	16 q
RGLDRoyal Gold Inc	1.01%	2,885,209	$355M	trimmed−8%	+0.14 pp	26 q
XRAYDENTSPLY SIRONA Inc.	0.95%	6,286,186	$335M	trimmed−1%	−0.05 pp	6 q
FNVFranco-Nevada Corporation	0.94%	3,642,616	$332M	trimmed−16%	−0.05 pp	26 q
TRVThe Travelers Companies, Inc.	0.89%	2,097,136	$312M	trimmed−3%	+0.02 pp	11 q
BKNGBooking Holdings Inc.	0.86%	154,667	$304M	trimmed−1%	+0.07 pp	5 q
GOOGAlphabet Inc. Class C	0.81%	233,298	$284M	trimmed−0%	+0.13 pp	22 q
HCAHCA Healthcare, Inc.	0.81%	2,373,857	$286M	added0%	−0.05 pp	6 q
TIFTiffany & Co.	0.76%	2,888,167	$268M	trimmed−0%	+0.03 pp	15 q
CVECenovus Energy Inc.	0.69%	25,730,919	$241M	trimmed−1%	+0.07 pp	26 q
IPGPIPG Photonics Corporation	0.63%	1,645,056	$223M	trimmed−1%	−0.06 pp	5 q
GOOGLAlphabet Inc. Class A	0.62%	179,259	$219M	trimmed−0%	+0.09 pp	16 q
CCUCompania Cervecerias Unidas S.A.	0.55%	8,735,264	$194M	added+19%	−0.01 pp	22 q
SCHWThe Charles Schwab Corporation	0.55%	4,665,269	$195M	new	+0.55 pp	new
COPConocoPhillips	0.54%	3,359,697	$191M	trimmed−0%	−0.01 pp	26 q
UGIUGI Corporation	0.48%	3,389,294	$170M	added+1%	0.00 pp	17 q
SMGThe Scotts Miracle-Gro Company	0.46%	1,603,974	$163M	trimmed−40%	−0.25 pp	26 q
VARVarian Medical Systems, Inc.	0.46%	1,360,186	$162M	trimmed−1%	−0.04 pp	17 q
KHCThe Kraft Heinz Company	0.43%	5,462,461	$153M	new	+0.43 pp	new
HRBH&R Block, Inc.	0.38%	5,627,172	$133M	trimmed−1%	−0.07 pp	26 q
SYFSynchrony Financial	0.31%	3,201,010	$109M	trimmed−51%	−0.30 pp	17 q
WYNTravel + Leisure Co.	0.22%	1,672,008	$77M	trimmed−1%	+0.02 pp	26 q
BALLBall Corporation	0.19%	935,272	$68M	trimmed−10%	−0.01 pp	10 q
POSTPost Holdings, Inc.	0.19%	618,677	$65M	added+4%	+0.02 pp	13 q
DNOWDNOW Inc.	0.16%	5,011,546	$57M	trimmed−39%	−0.17 pp	22 q
MLMMartin Marietta Materials	0.15%	192,106	$53M	held	—	26 q
NGNovaGold Resources Inc.	0.14%	8,052,359	$49M	held	—	15 q
BTGB2Gold Corp.	0.13%	14,178,157	$46M	held	—	18 q
GDGeneral Dynamics Corporation	0.13%	244,347	$45M	added+19%	+0.03 pp	15 q
MPCMarathon Petroleum Corporation	0.13%	780,571	$47M	trimmed−1%	+0.01 pp	5 q
EFXEquifax, Incorporated	0.12%	305,916	$43M	added×2.3	+0.07 pp	6 q
FTDRFrontdoor, Inc.	0.11%	803,799	$39M	held	—	4 q
KKRKKR & Co. Inc.	0.11%	1,481,580	$40M	added+1%	+0.01 pp	5 q
MDCOMedicines Co	0.11%	764,012	$38M	added+60%	+0.06 pp	14 q
WHWyndham Hotels & Resorts, Inc.	0.11%	780,668	$40M	added+6%	0.00 pp	6 q
99803EURLaboratory Crp Of Amer Hldgs	0.10%	202,900	$34M	added×2.2	+0.06 pp	2 q
unresolvedAon PLC	0.10%	174,389	$34M	held	—	5 q
HPQHP Inc.	0.09%	1,750,809	$33M	held	—	13 q
MQ8Mag Silver Corp	0.09%	2,942,988	$31M	held	—	19 q
unresolvedCree Inc	0.08%	540,500	$26M	added+4%	0.00 pp	4 q
VSTOVista Outdoor Inc.	0.08%	4,511,604	$28M	trimmed−2%	−0.03 pp	19 q
AGIAlamos Gold Inc. Class A	0.07%	4,225,538	$25M	added+15%	+0.01 pp	12 q
AUAngloGold Ashanti plc	0.07%	1,286,240	$24M	trimmed−19%	−0.01 pp	26 q
HALOHalozyme Therapeutics, Inc.	0.07%	1,637,475	$25M	trimmed−3%	−0.01 pp	24 q
ICEIntercontinental Exchange Inc.	0.07%	266,127	$25M	trimmed−16%	0.00 pp	9 q
SERVTerminix Global Holdings Inc	0.07%	421,757	$24M	trimmed−1%	+0.01 pp	7 q
SHWThe Sherwin-Williams Company	0.07%	46,900	$26M	added+26%	+0.02 pp	3 q
NVTnVent Electric plc	0.07%	1,151,218	$25M	held	—	6 q
PRGOPerrigo Company PLC	0.07%	465,600	$26M	trimmed−35%	−0.02 pp	5 q
ENTGEntegris Inc	0.04%	319,500	$15M	added+9%	+0.01 pp	2 q
INVAInnoviva, Inc.	0.04%	1,247,800	$13M	added+15%	0.00 pp	15 q
SJTSan Juan Basin Royalty Trust UBI	0.04%	4,112,718	$12M	trimmed−19%	−0.01 pp	26 q
UNVRUnivar Solutions Inc.	0.04%	753,750	$16M	trimmed−50%	−0.05 pp	14 q
WFC.PRLWells Fargo & Company	0.04%	8,535	$13M	held	—	3 q
ZZillow Group, Inc. Class C	0.04%	466,200	$14M	added+11%	−0.01 pp	4 q
HDSHD Supply Holdings, Inc.	0.02%	191,900	$8M	new	+0.02 pp	new
KGCKinross Gold Corporation	0.02%	1,675,378	$8M	trimmed−43%	−0.01 pp	6 q
XONPrecigen, Inc.	0.01%	842,665	$5M	held	—	22 q
TXMDTherapeuticsMD, Inc.	0.01%	1,443,856	$5M	held	—	8 q
BEBloom Energy Corporation	0.00%	392,500	$1M	new	0.00 pp	new
VACMarriott Vacations Worldwide Corporation	0.00%	16,800	$2M	new	0.00 pp	new
ARQLArqule Inc	—	−15,928,628	—	exited	−0.47 pp	—
LBTYKLiberty Global Ltd. Class C	—	−3,715,944	—	exited	−0.27 pp	—
DCPDCP Midstream, LP	—	−2,538,805	—	exited	−0.20 pp	—
XRXXerox Holdings Corporation	—	−1,482,600	—	exited	−0.14 pp	—
ACTAllergan PLC	—	−253,479	—	exited	−0.11 pp	—
PKGPackaging Corp of America	—	−386,873	—	exited	−0.10 pp	—
QRVOQorvo, Inc.	—	−486,885	—	exited	−0.09 pp	—
unresolvedIsrael Chemicals Ltd	—	−5,358,730	—	exited	−0.08 pp	—
NGLNgl Energy Partners LP	—	−1,832,015	—	exited	−0.07 pp	—
unresolvedIntevac Inc	—	−4,523,414	—	exited	−0.06 pp	—
DRRXDurect Corp	—	−26,476,546	—	exited	−0.05 pp	—
HUNHuntsman Corporation	—	−788,266	—	exited	−0.04 pp	—
SHLXShell Midstream Partners, L.P.	—	−790,797	—	exited	−0.04 pp	—
AJRDAerojet Rocketdyne Holdings, Inc.	—	−209,477	—	exited	−0.03 pp	—
CNDTConduent Incorporated	—	−1,211,203	—	exited	−0.03 pp	—
unresolvedHaymaker Acquisition Corp II	—	−1,000,000	—	exited	−0.03 pp	—
INVEINVE Technologies, Inc.	—	−1,853,004	—	exited	−0.03 pp	—
IDNIntellicheck, Inc.	—	−1,748,678	—	exited	−0.03 pp	—
LSXMKLiberty Media Cor-siriusxm C	—	−158,810	—	exited	−0.02 pp	—
NSNuStar Energy L.P.	—	−250,000	—	exited	−0.02 pp	—
SPGIS&P Global Inc.	—	−40,000	—	exited	−0.02 pp	—
AKTSQAkoustis Technologies Inc	—	−304,490	—	exited	−0.01 pp	—
AMPAmeriprise Financial, Inc.	—	−21,324	—	exited	−0.01 pp	—
BLFSBioLife Solutions Inc.	—	−177,578	—	exited	−0.01 pp	—
unresolvedCui Global Inc	—	−3,400,542	—	exited	−0.01 pp	—
FLNAFilana Therapeutics, Inc.	—	−1,695,395	—	exited	−0.01 pp	—
KODKEastman Kodak Company	—	−1,361,118	—	exited	−0.01 pp	—
unresolvedIndependence Hldg Co New	—	−109,423	—	exited	−0.01 pp	—
JPMJPMorgan Chase & Co.	—	−30,000	—	exited	−0.01 pp	—
KNKnowles Corporation	—	−121,241	—	exited	−0.01 pp	—
LM03Liberty Media Cor-siriusxm A	—	−79,405	—	exited	−0.01 pp	—
TRAKReposiTrak, Inc.	—	−436,445	—	exited	−0.01 pp	—
VCVisteon Corporation	—	−81,300	—	exited	−0.01 pp	—
RMTORM2 International Inc	—	−2,158,467	—	exited	0.00 pp	—
CNSTConstellation Pharmaceutical	—	−28,464	—	exited	0.00 pp	—
INFIQInfinity Pharms Inc	—	−500,000	—	exited	0.00 pp	—
BATRAAtlanta Braves Holdings, Inc. Series A	—	−7,939	—	exited	0.00 pp	—
BATRKAtlanta Braves Holdings, Inc. Series C	—	−15,880	—	exited	0.00 pp	—
MTBM&T Bank Corp.	—	−7,032	—	exited	0.00 pp	—
RIBTRicebran Techs	—	−187,500	—	exited	0.00 pp	—
PHYSSprott Physical Gold Trust	—	−12,540	—	exited	0.00 pp	—
SNSSViracta Therapeutics Inc	—	−294,480	—	exited	0.00 pp	—
unresolvedSuper League Gaming Inc	—	−93,620	—	exited	0.00 pp	—
ASNSX4 Pharmaceuticals Inc	—	−35,730	—	exited	0.00 pp	—
LBTYALiberty Global Ltd. Class A	—	−22,989	—	exited	0.00 pp	—
LILALiberty Latin America Ltd. Class A	—	−4,017	—	exited	0.00 pp	—
LILAKLiberty Latin America Ltd. Class C	—	−12,166	—	exited	0.00 pp	—

Other 13(f) securities

Options 8

Contract	% of notional	Shares	Notional
ALB CALL	30.31%	4,000	$3M
HDS CALL	19.84%	7,000	$2M
PRGO CALL	18.64%	1,000	$2M
BIIB CALL	16.30%	500	$2M
ALXN CALL	6.67%	3,000	$753,000
Z PUT	4.61%	4,000	$520,000
UNVR PUT	2.83%	4,000	$320,000
NVT CALL	0.80%	6,000	$90,000

Notes 0

None in this filing

Source

Form: 13F-HR
Reading: 0 defects · 2 unresolved
Accession: 0001325447-19-000045
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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