First Eagle

Q1 2021 13F · by Kimball Brooker, portfolio manager

As of: Mar 31, 2021
Filed: May 13, 2021
US stock: $37.6B · prev $35.5B
Positions: 98 · prev 96
Options notional: $0
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%

Moves89 since the prior filing

+1.1 pp in · −1.2 pp out

New 3 +0.58 pp
Added 45 +0.52 pp
Trimmed 40 −0.36 pp
Exited 1 −0.82 pp

The book

Diversified · behaves like 49 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 12% a year, about 8.3 years per position

Low
Moderate
High

Top 5 positions19% of US stock

ORCL Oracle Corp trimmed+0.02 pp trimmed+0.025.2%
CMCSA Comcast Corp trimmed−0.14 pp trimmed−0.144.3%
XOM Exxon Mobil Corp trimmed+0.74 pp trimmed+0.743.9%
TSM Taiwan Semiconductor Manufacturing Company Ltd. trimmed+0.04 pp trimmed+0.043.1%
NEM Newmont Corporation added−0.14 pp added−0.143.0%

Positions98 in this filing · 1 exited


ORCLOracle Corp	5.17%	27,682,604	$1.9B	trimmed−2%	+0.02 pp	32 q
CMCSAComcast Corp	4.34%	30,181,068	$1.6B	trimmed−1%	−0.14 pp	32 q
XOMExxon Mobil Corp	3.85%	25,888,313	$1.4B	trimmed−3%	+0.74 pp	32 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	3.06%	9,710,936	$1.1B	trimmed−1%	+0.04 pp	11 q
NEMNewmont Corporation	2.96%	18,462,145	$1.1B	added+1%	−0.14 pp	32 q
NTRNutrien Ltd.	2.86%	19,960,612	$1.1B	trimmed−9%	−0.11 pp	13 q
METAMeta Platforms, Inc. Class A	2.76%	3,519,470	$1.0B	added+8%	+0.25 pp	12 q
CHRWC.H. Robinson Worldwide, Inc.	2.68%	10,565,915	$1.0B	added0%	−0.11 pp	17 q
CLColgate-Palmolive Company	2.50%	11,924,523	$940M	trimmed−0%	−0.38 pp	32 q
PMPhilip Morris International Inc.	2.47%	10,461,380	$928M	added0%	+0.04 pp	12 q
99952EURLinde PLC/OLD	2.39%	3,205,377	$898M	trimmed−0%	+0.02 pp	10 q
BNYBank of New York Mellon Corporation	2.09%	16,605,500	$785M	trimmed−9%	−0.09 pp	32 q
SLBSLB Limited	1.99%	27,550,134	$749M	trimmed−3%	+0.24 pp	32 q
AXPAmerican Express Company	1.92%	5,096,998	$721M	trimmed−1%	+0.17 pp	32 q
ELVElevance Health, Inc.	1.89%	1,980,056	$711M	trimmed−3%	+0.05 pp	26 q
MSFTMicrosoft Corp	1.86%	2,973,305	$701M	trimmed−0%	−0.01 pp	32 q
TXNTexas Instruments Incorporated	1.83%	3,636,536	$687M	trimmed−9%	−0.02 pp	23 q
WYWeyerhaeuser Company	1.81%	19,136,951	$681M	trimmed−12%	−0.25 pp	32 q
GLDSPDR Gold Trust, SPDR Gold Shares	1.72%	4,045,355	$647M	added+4%	−0.23 pp	32 q
ABEVAmbev S.a.	1.71%	234,793,950	$643M	added+7%	−0.18 pp	5 q
IMOImperial Oil Limited	1.70%	26,406,468	$640M	added0%	+0.29 pp	23 q
WPMWheaton Precious Metals Corp.	1.69%	16,580,775	$634M	added+2%	−0.21 pp	16 q
DEDeere & Company	1.53%	1,535,473	$574M	trimmed−40%	−0.42 pp	27 q
ADIAnalog Devices, Inc.	1.47%	3,564,499	$553M	trimmed−11%	−0.19 pp	25 q
BKNGBooking Holdings Inc.	1.46%	235,553	$549M	added0%	−0.02 pp	11 q
WTWWillis Towers Watson Public Limited Company	1.46%	2,393,190	$548M	added+22%	+0.30 pp	21 q
USBU.S. Bancorp	1.44%	9,782,111	$541M	trimmed−2%	+0.13 pp	32 q
ABXBarrick Mining Corporation	1.42%	27,014,543	$535M	added+1%	−0.30 pp	32 q
TDCTeradata Corporation	1.39%	13,566,688	$523M	trimmed−0%	+0.53 pp	30 q
CMICummins Inc.	1.37%	1,989,065	$515M	trimmed−5%	+0.03 pp	22 q
FMXFomento Economico Mexicano, S.a.b. De C.v.	1.36%	6,808,107	$513M	added+13%	+0.08 pp	5 q
TRVThe Travelers Companies, Inc.	1.32%	3,302,630	$497M	trimmed−13%	−0.17 pp	17 q
GOOGAlphabet Inc. Class C	1.27%	230,210	$476M	trimmed−20%	−0.15 pp	28 q
NOVNOV Inc.	1.23%	33,579,602	$461M	added0%	−0.07 pp	32 q
VMRKVivmark Residential	1.16%	6,069,763	$435M	added0%	+0.15 pp	5 q
UNPUnion Pacific Corp.	1.16%	1,985,331	$438M	trimmed−1%	−0.02 pp	23 q
XRAYDENTSPLY SIRONA Inc.	1.15%	6,789,605	$433M	trimmed−6%	+0.08 pp	12 q
FLSFlowserve Corporation	1.15%	11,177,799	$434M	added0%	−0.01 pp	25 q
HCAHCA Healthcare, Inc.	1.13%	2,253,828	$424M	trimmed−5%	+0.03 pp	12 q
WFCWells Fargo & Co.	1.11%	10,717,856	$419M	trimmed−1%	+0.19 pp	9 q
CRMSalesforce, Inc.	1.10%	1,951,395	$413M	added+15%	+0.03 pp	4 q
UHSUniversal Health Services, Inc. Class B	1.09%	3,066,328	$409M	added+2%	−0.08 pp	12 q
GOOGLAlphabet Inc. Class A	1.08%	196,401	$405M	trimmed−1%	+0.10 pp	22 q
AEMAgnico Eagle Mines Ltd.	1.05%	6,843,531	$396M	added0%	−0.31 pp	32 q
BRK.ABerkshire Hathaway Inc.	1.05%	1,028	$397M	trimmed−7%	−0.03 pp	32 q
BROBrown & Brown, Inc.	1.02%	8,382,981	$383M	added0%	−0.10 pp	28 q
WRBW.R. Berkley Corporation	1.00%	5,007,675	$377M	trimmed−12%	−0.07 pp	32 q
RGLDRoyal Gold Inc	1.00%	3,476,354	$374M	added+31%	+0.20 pp	32 q
UGIUGI Corporation	1.00%	9,196,730	$377M	added+26%	+0.28 pp	23 q
IPGPIPG Photonics Corporation	0.88%	1,573,134	$332M	trimmed−2%	−0.13 pp	11 q
SCHWThe Charles Schwab Corporation	0.88%	5,099,003	$332M	trimmed−10%	+0.03 pp	7 q
YAlleghany Corporation	0.87%	525,025	$329M	trimmed−16%	−0.20 pp	32 q
BDXBecton, Dickinson and Co.	0.83%	1,288,614	$313M	added×5.1	+0.65 pp	2 q
TFCTruist Financial Corporation	0.83%	5,377,565	$314M	trimmed−27%	−0.16 pp	32 q
KHCThe Kraft Heinz Company	0.77%	7,245,631	$290M	trimmed−0%	+0.06 pp	7 q
EXPDExpeditors International of Washington, Inc.	0.72%	2,503,022	$270M	added0%	+0.05 pp	5 q
BXPBXP, Inc.	0.68%	2,510,699	$254M	added0%	+0.01 pp	4 q
CCUCompania Cervecerias Unidas S.A.	0.67%	14,256,749	$252M	trimmed−2%	+0.07 pp	28 q
FNVFranco-Nevada Corporation	0.64%	1,916,217	$240M	added+1%	−0.03 pp	32 q
DEIDouglas Emmett, Inc.	0.58%	6,910,221	$217M	added+26%	+0.13 pp	4 q
BABAAlibaba Group Holding Limited	0.57%	951,926	$216M	new	+0.57 pp	new
PPGPPG Industries, Inc.	0.46%	1,142,331	$172M	trimmed−1%	−0.01 pp	5 q
NGNovaGold Resources Inc.	0.27%	11,474,097	$101M	added+15%	0.00 pp	21 q
KLKirkland Lake Gold Ltd Ordinary	0.25%	2,730,916	$92M	added+8%	−0.04 pp	5 q
BTGB2Gold Corp.	0.21%	17,943,090	$77M	added+2%	−0.07 pp	24 q
AGIAlamos Gold Inc. Class A	0.19%	9,277,333	$72M	added+2%	−0.03 pp	18 q
EPDEnterprise Products Partners L.P.	0.17%	2,857,106	$63M	held	—	5 q
GDGeneral Dynamics Corporation	0.15%	313,354	$57M	added+1%	+0.02 pp	21 q
SMGThe Scotts Miracle-Gro Company	0.14%	217,157	$53M	trimmed−73%	−0.30 pp	32 q
MQ8Mag Silver Corp	0.13%	3,340,296	$50M	added+2%	−0.06 pp	25 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.11%	106,430	$40M	trimmed−1%	0.00 pp	3 q
WEPMagellan Midstream Partners	0.10%	895,054	$39M	added+39%	+0.02 pp	2 q
AUAngloGold Ashanti plc	0.08%	1,310,012	$29M	added+2%	0.00 pp	32 q
ROSTRoss Stores Inc	0.08%	253,645	$30M	trimmed−1%	−0.01 pp	3 q
MDTMedtronic plc	0.07%	224,724	$27M	trimmed−1%	0.00 pp	3 q
ORLAOrla Mining Ltd	0.05%	4,928,384	$18M	added+23%	−0.01 pp	2 q
0VQJLTe Connectivity Ltd	0.05%	140,752	$18M	held	—	3 q
HDHome Depot, Inc.	0.04%	43,467	$13M	held	—	3 q
KGCKinross Gold Corporation	0.04%	2,317,415	$15M	added+2%	−0.01 pp	12 q
PEPPepsiCo, Inc.	0.04%	113,125	$16M	trimmed−35%	−0.03 pp	3 q
SJTSan Juan Basin Royalty Trust UBI	0.04%	4,098,935	$16M	held	—	32 q
VVISA Inc.	0.04%	74,904	$16M	held	—	3 q
SPGIS&P Global Inc.	0.03%	29,969	$11M	added×3.0	+0.02 pp	3 q
SHWThe Sherwin-Williams Company	0.03%	15,855	$12M	held	—	9 q
SBUXStarbucks Corp	0.03%	111,909	$12M	held	—	3 q
ACNAccenture PLC	0.02%	27,531	$8M	added+75%	+0.01 pp	3 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	0.01%	88,230	$4M	new	+0.01 pp	new
BTIBritish American Tobacco p.l.c.	0.00%	1,664	$64,000	added+99%	0.00 pp	2 q
unresolvedCrh PLC	0.00%	294	$14,000	added+99%	0.00 pp	2 q
CMLSQCumulus Media Inc A	0.00%	14,221	$130,000	held	—	5 q
DEODiageo plc	0.00%	77	$13,000	added×2.0	0.00 pp	2 q
FTSIFts International Inc-cl A	0.00%	22,101	$547,000	held	—	2 q
unresolvedGlaxosmithkline PLC	0.00%	646	$23,000	added+99%	0.00 pp	2 q
JILLJ.Jill, Inc.	0.00%	113,967	$1M	held	—	2 q
LYGLloyds Banking Group PLC	0.00%	10,168	$24,000	added+99%	0.00 pp	2 q
RDS.ARoyal Dutch Shell PLC	0.00%	383	$15,000	new	0.00 pp	new
SNYSanofi	0.00%	733	$36,000	added+99%	0.00 pp	2 q
unresolvedUnilever Spn.Adr 1:1	0.00%	815	$46,000	added×2.4	0.00 pp	2 q
MMM3M Company	—	−1,659,969	—	exited	−0.82 pp	—