Every quarter, mutual fund managers publicly disclose their quarter-end holdings. Today, let's take a look at First Eagle Investment and see what moves fund manager Jean-Marie Eveillard has made lately.
Meet First Eagle Investment Management, LLC
Jean-Marie Eveillard is the senior investment advisor of First Eagle Funds. He follows a long-term investment strategy rather than the riskier approach of trying to take advantage of short-term trading opportunities. The total market value of First Eagle Investment Management's disclosed equity holdings as of March 31, 2011 -- the latest quarter for which data are available -- was $19.9 billion across 346 holdings.
The fund's 10 largest positions (by value) and associated changes as of March 31 were:
-- reduced 0.7%. (NYSE: GFI)
-- increased 5.4%. (NYSE: AXP)
-- increased 4.1%. (NYSE: COP)
Grupo Televisa S.A.
-- increased 22.6%. (NYSE: TV)
– increased 1.2%. (Nasdaq: CTAS)
-- increased 1.5%. (Nasdaq: CMCSK)
-- increased 103.3%. (NYSE: SYY)
-- increased 51.6%. (NYSE: FE)
-- increased 1.4%. (Nasdaq: MSFT)
-- reduced 27.5%. (NYSE: WY)
These top 10 holdings account for 24.06% of the total portfolio.
Here's a look at a few notable movements outside the top 10 holdings:
- Rising positions: The fund substantially increased its positions in Tyco International and Metlife.
- Falling positions: It made big cuts to its holdings of PDL BioPharma and Thermo Fisher Scientific.
- Eliminated positions: During the quarter, the fund sold out of stock positions in Cypress Bioscience and CBS.
Selected Q1 2011 commentary
First Eagle has a diversified portfolio, with materials and industrial stocks making up the largest portion of the company's global portfolio at about 18% each.
Here's where the firm is winning and losing, and making new bets, at the moment:
- Current winner: Weyerhaeuser did well, increasing more than 30% in the first quarter of the present year.
- Current laggard: Microsoft fell 9% in price in the first quarter of 2011.
- New bets: There are many new additions; Colgate-Palmolive was the largest.
So there you have it -- the quick glance at First Eagle's latest moves. Tell us what you think in the comments section below.
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