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      <invstOrSec>
        <name>Ohio Housing Finance Agency</name>
        <lei>549300K10X7VPG6JVX38</lei>
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          <isin value="US676900YD96"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-01-01</maturityDt>
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          <annualizedRt>6.30000000</annualizedRt>
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        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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          <isin value="US20775DDY58"/>
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        <valUSD>7515.95000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Iowa Finance Authority</name>
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          <isin value="US46247SFV16"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-05-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Montana Facility Finance Authority</name>
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        <cusip>612043LN7</cusip>
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          <isin value="US612043LN76"/>
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        <curCd>USD</curCd>
        <valUSD>120643.97000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Virginia Hospital Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US956622S475"/>
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        <curCd>USD</curCd>
        <valUSD>37626.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Celina TX</name>
        <lei>N/A</lei>
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          <isin value="US15114CKY92"/>
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        <curCd>USD</curCd>
        <valUSD>624724.30000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
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        <cusip>97671VBE4</cusip>
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          <isin value="US97671VBE48"/>
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        <balance>50000.00000000</balance>
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        <valUSD>49108.88000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>DuBois Hospital Authority</name>
        <lei>N/A</lei>
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          <isin value="US263804BQ84"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22064.57000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US64613CHS08"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Coralville IA</name>
        <lei>549300UKC7MMW46X6P25</lei>
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        <valUSD>4211.54000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-01</maturityDt>
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          <annualizedRt>3.37500000</annualizedRt>
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        <name>Southeastern Ohio Port Authority</name>
        <lei>N/A</lei>
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          <isin value="US841895AW56"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-12-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <cusip>45506DF67</cusip>
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          <isin value="US45506DF675"/>
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        <balance>40000.00000000</balance>
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          <maturityDt>2038-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Berks County Industrial Development Authority</name>
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          <isin value="US08451PAV31"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-01</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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        <name>County of Boone MO</name>
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          <maturityDt>2038-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Foster Farm Business Improvement District</name>
        <lei>N/A</lei>
        <title>Foster Farm Business Improvement District, Series 2025 A</title>
        <cusip>350076AA3</cusip>
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          <isin value="US350076AA30"/>
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        <balance>575000.00000000</balance>
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        <valUSD>400724.29000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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        <name>Schaumburg Cook &amp; DuPage Counties IL</name>
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        <title>Schaumburg Cook &amp; DuPage Counties, Series 2025</title>
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          <isin value="US806345AA28"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-30</maturityDt>
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          <annualizedRt>6.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>New Hope Cultural Education Facilities Finance Corp., Series 2025 A</title>
        <cusip>64542PGQ2</cusip>
        <identifiers>
          <isin value="US64542PGQ28"/>
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        <balance>450000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rhode Island Health and Educational Building Corp.</name>
        <lei>N/A</lei>
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          <isin value="US762244PC91"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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          <isin value="US45204FSQ99"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-05-15</maturityDt>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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          <isin value="US45204E7C64"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Onondaga Civic Development Corp.</name>
        <lei>N/A</lei>
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          <isin value="US682832KH24"/>
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        <curCd>USD</curCd>
        <valUSD>472774.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMorgan US Government Money Market Fund</name>
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          <isin value="US6819375204"/>
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        <balance>2950.47000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citizens Memorial Hospital District</name>
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        <title>Citizens Memorial Hospital District, Series 2024 D</title>
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          <isin value="US174762EY64"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>74707.11000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-02-01</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>City of Wichita KS</name>
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          <isin value="US967249QU07"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59231.43000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>DuBois Hospital Authority</name>
        <lei>N/A</lei>
        <title>DuBois Hospital Authority, Series 2018</title>
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          <isin value="US263804BP02"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11492.39000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Series 2017</title>
        <cusip>45506DF42</cusip>
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          <isin value="US45506DF428"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10004.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hunt Memorial Hospital District Charitable Health</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-02-15</maturityDt>
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        <name>Savannah Georgia Convention Center Authority</name>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority, Series 2025</title>
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          <isin value="US74448UAB44"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-06-30</maturityDt>
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        <name>East Central Vermont Telecommunications District</name>
        <lei>549300UHVQS0JED3EZ33</lei>
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          <isin value="US271524AE08"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Series 2014</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Berks County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Berks County Industrial Development Authority, Series 2017</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority, Series 2024 A</title>
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          <isin value="US74448DBB10"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-09-16</maturityDt>
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      <invstOrSec>
        <name>East Central Vermont Telecommunications District</name>
        <lei>549300UHVQS0JED3EZ33</lei>
        <title>East Central Vermont Telecommunications District, Series 2017 A</title>
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          <isin value="US271524AL41"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-12-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nolan County Hospital District</name>
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        <name>Lancaster County Hospital Authority</name>
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        <name>Indiana Finance Authority</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Stamford Housing Authority</name>
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        <name>Greater Texas Cultural Education Facilities Finance Corp.</name>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, Series 2025</title>
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          <isin value="US63608TBA79"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Educational Facilities Authority</name>
        <lei>549300UTOO4X537XXG70</lei>
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        <cusip>646066Z78</cusip>
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          <isin value="US646066Z781"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15223.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Carolina Jobs-Economic Development Authority</name>
        <lei>5493006X47I9VG3DL112</lei>
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        <cusip>83704KAC4</cusip>
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          <isin value="US83704KAC45"/>
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        <balance>430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>431888.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
        <title>Capital Trust Authority, Series 2024 A</title>
        <cusip>14054WBM6</cusip>
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          <isin value="US14054WBM64"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>218047.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <cusip>79766DSA8</cusip>
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          <isin value="US79766DSA80"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151112.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Galesburg IL</name>
        <lei>N/A</lei>
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        <cusip>363433BB8</cusip>
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          <isin value="US363433BB88"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>473719.86000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York Counties Tobacco Trust IV</name>
        <lei>N/A</lei>
        <title>New York Counties Tobacco Trust IV, Series 2005 A</title>
        <cusip>62947YAE1</cusip>
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          <isin value="US62947YAE14"/>
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        <balance>840000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>655012.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Virginia Hospital Finance Authority</name>
        <lei>N/A</lei>
        <title>West Virginia Hospital Finance Authority, Series 2018 A</title>
        <cusip>956622S54</cusip>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27420.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <name>County of Lucas OH</name>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100681.47000000</valUSD>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
        <title>Capital Trust Authority, Series 2024 A</title>
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          <isin value="US14054WAR60"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>197827.32000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-06-15</maturityDt>
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          <annualizedRt>6.12500000</annualizedRt>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>205176.26000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2062-02-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>City of Chicago IL</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Berks County Municipal Authority (The)</name>
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        <invCountry>US</invCountry>
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        <name>Chicago Board of Education</name>
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        <name>Public Finance Authority</name>
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    <signature>
      <ncom:dateSigned>2026-03-02</ncom:dateSigned>
      <ncom:nameOfApplicant>First Eagle Completion Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Shuang Wu</ncom:signature>
      <ncom:signerName>Shuang Wu</ncom:signerName>
      <ncom:title> Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
