First Eagle Investment Management LLC has published its 13F for the quarter which ended on 31st December 2012. The value fund, found by Jean Marie-Eveillard which boasts George Soros as a former employee, made a bunch of changes in its equity holding in the fourth quarter. Here’s a run down of the firm’s buy and sell during the last three months of 2012.
The company’s largest holding, with 46,147,106 shares and a market value of more than $900,000,000 is Cisco Systems Inc. (NASDAQ:CSCO). First Eagle shed 540,834 shares in the company during the last three months of the year, leaving Cisco Systems as 3.24 percent of the the funds entire holdings.
Comcast Corporation (NASDAQ:CMCSA) is, according to the firm’s 13F, First Eagle’s second biggest holding with 23,802,408 shares and a market value of more than $850,000,000. The firm added 210,000 shares in Comcast in the three months, leaving the cable company at 3.05 percent of the firm’s holdings.
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SYSCO Corporation (NYSE:SYY) is the firm’s third biggest holding in the 13F. The firm held 24,119,392 shares in the company at the end of 2012, having added 272,700 during the quarter. The firm’s holding in SYSCO is valued at $763,619,947.
The firm dropped large amounts of its positions, to the tune of 77 percent in JPMorgan Chase & Co. (NYSE:JPM) shares, 84 percent of its shares in Nexen Inc. (NYSE:NXY), 79 percent of its Berkshire Hathaway Inc. (NYSE:BRK.B) shares and 99 percent of its Wells Fargo & Company (NYSE:WFC) stock.
The firm got completely out of its positions in Hudson City Bancorp, Inc. (NASDAQ:HCBK), dropping 2,038,464 shares, Rayonier Inc. (NYSE:RYN) dropping 4,500,000 shares, BHP Billiton plc (LON:BLT) dropping 3,333,694, and Mondelez International Inc (NASDAQ:MDLZ) dropping 2,038,464 shares in the three months.
First Eagle added a large amount of shares in Intel Corporation (NASDAQ:INTC), bringing its holding to 25,174,515 shares, valued at $519,098,520, Athersys Inc., up to 4,207,600 shares, valued at $4,460,056 and Penn West Petroleum Ltd. (NYSE:PWE), up to 33,338,123 shares, valued at $362,052,004.
First Eagle added to its holdings in Advanced Micro Devices, Inc. (NYSE:AMD), 46,680,000 shares valued at $43,646,000, Canadian Natural Resources Ltd (NYSE:CNQ), 9,798,200 shares valued at $282,874,042, and Potash Corp./Saskatchewan (NYSE:POT), 9,646,563 shares valued at $392,518,392.
First Eagle is one of the oldest funds around, its history can be traced all the way back to 1804. Back then the company operated as a bank out of Berlin. The firm moved its operations to New York for the first time in 1937, and opened its first US registered fund in 1987.
In total, the firm bought 41 new stocks in the fourth quarter, and got rid of 41 stocks. The firm added to its positions in 93 different stocks and reduced its positions in 44 stocks. The firm’s top 10 holdings make up 25.25 percent of its entire portfolio.