UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act File Number: 811-07470

EAGLE SERIES TRUST

 (Exact name of Registrant as Specified in Charter)

880 Carillon Parkway

St. Petersburg, FL 33716

(Address of Principal Executive Office) (Zip Code)

Registrant’s Telephone Number, including Area Code: (727) 567-8143

SUSAN L. WALZER, PRINCIPAL EXECUTIVE OFFICER

880 Carillon Parkway

St. Petersburg, FL 33716

(Name and Address of Agent for Service)

Copy to:

KATHY KRESCH INGBER, ESQ.

K&L Gates LLP

1601 K Street, NW

Washington, D.C.  20006

Date of fiscal year end: October 31

Date of reporting period: July 31, 2016

Item 1. Schedule of Investments

Investment Portfolios
(UNAUDITED)  |  07.31.16
EAGLE INTERNATIONAL STOCK FUND
COMMON STOCKS - 95.1%	Shares		Value
Australia - 3.7%
BlueScope Steel Ltd.		36,013	$	232,330
Evolution Mining Ltd.		33,805		73,980
Qantas Airways Ltd.		66,230		159,014
Regis Resources Ltd.		40,392		125,565
St. Barbara Ltd.*		23,845		55,634
Austria - 0.2%
Erste Group Bank AG		1,070		28,357
Belgium - 0.2%
Elia System Operator S.A.		760		40,506
Denmark - 1.7%
Danske Bank A/S		4,938		134,289
DFDS A/S		1,408		64,355
Vestas Wind Systems A/S		1,351		94,450
Finland - 0.4%
UPM-Kymmene OYJ		3,629		74,839
France - 7.7%
BNP Paribas S.A.		4,333		214,936
Cie de Saint-Gobain S.A.		1,056		44,830
Cie Generale des Etablissements Michelin		1,463		149,531
Credit Agricole S.A.		10,929		96,813
Engie S.A.		5,038		82,924
Faurecia S.A.		1,210		47,723
IPSOS		1,154		38,007
Nexans S.A.*		1,407		71,007
Orange S.A.		12,073		185,286
Renault S.A.		3,095		270,610
Societe Generale S.A.		3,391		115,612
Sopra Steria Group		253		29,713
Germany - 13.1%
Allianz SE		1,113		159,477
BASF SE		3,024		237,541
Bayer AG		1,407		151,250
Commerzbank AG		14,017		92,525
Daimler AG		3,760		255,621
Deutsche Bank AG		3,379		45,442
E.ON SE		18,347		196,770
Fresenius SE & Co. KGaA		4,265		318,587
Gerresheimer AG		1,548		132,902
HeidelbergCement AG		873		73,953
Merck KGaA		2,548		281,392
Salzgitter AG		3,098		96,677
Siemens AG		1,861		202,006
Suedzucker AG		1,916		47,946

Hong Kong - 1.8%
CLP Holdings Ltd.	14,000	145,907
Orient Overseas International Ltd.	7,000	24,851
Wheelock and Co. Ltd.	28,000	150,147
Ireland - 0.5%
CRH PLC	2,770	84,527
Israel - 2.4%
Israel Discount Bank Ltd., Class A*	43,608	75,243
Teva Pharmaceutical Industries Ltd.	5,716	312,851
Tower Semiconductor Ltd.*	3,055	41,637
Italy - 2.2%
Enel SpA	36,867	169,684
Intesa Sanpaolo SpA	68,217	150,532
OVS SpA	7,808	45,929
Unipol Gruppo Finanziario SpA	7,489	20,795
Japan - 26.1%
Bridgestone Corp.	5,600	193,933
Cosmo Energy Holdings Co. Ltd.	7,000	77,098
Daikyonishikawa Corp.	2,800	39,730
Fuji Heavy Industries Ltd.	2,800	106,973
Fujitsu Ltd.	14,000	58,121
Heiwa Corp.	2,800	57,526
Heiwado Co. Ltd.	1,400	27,083
Hokkaido Electric Power Co., Inc.	12,700	100,740
ITOCHU Corp.	15,500	175,737
Japan Display, Inc.	9,900	17,771
JX Holdings, Inc.	12,700	48,119
Kajima Corp.	42,000	310,457
KDDI Corp.	4,200	128,886
Marubeni Corp.	35,200	163,648
Matsumotokiyoshi Holdings Co. Ltd.	900	39,687
MITSUBA Corp.	2,800	33,087
Mitsubishi UFJ Financial Group, Inc.	36,600	185,032
Mizuho Financial Group, Inc.	32,400	51,980
Nippon Light Metal Holdings Co. Ltd.	28,200	64,017
Nippon Soda Co. Ltd.	14,000	61,420
Nippon Suisan Kaisha Ltd.	50,700	251,667
Nippon Telegraph & Telephone Corp.	4,200	199,583
NTT DOCOMO, Inc.	8,400	228,181
Ono Pharmaceutical Co. Ltd.	2,800	100,710
Rengo Co. Ltd.	28,000	183,813
Resona Holdings, Inc.	18,300	72,995
Sanden Holdings Corp.	14,000	40,165
Showa Denko K.K.	10,500	107,017
Sompo Japan Nippon Nipponkoa Holdings, Inc.	7,000	226,095
Sumitomo Corp.	19,700	206,636
Sumitomo Mitsui Financial Group, Inc.	2,800	88,758
Tohoku Electric Power Co., Inc.	9,900	127,187
Topre Corp.	1,400	31,957
Toyo Tire & Rubber Co. Ltd.	7,000	70,099
Toyota Boshoku Corp.	5,600	128,046
Toyota Motor Corp.	8,400	470,693

ZEON Corp.	14,000	115,529
Netherlands - 4.5%
Aegon N.V.	18,398	74,493
AerCap Holdings N.V.*	5,600	204,456
ArcelorMittal*	7,935	51,402
Delta Lloyd N.V.	10,594	37,802
Heineken N.V.	1,547	145,999
Koninklijke Ahold Delhaize N.V.	2,040	48,692
NN Group N.V.	8,483	228,812
New Zealand - 0.2%
Z Energy Ltd.	6,201	38,402
Norway - 0.7%
Telenor ASA	7,201	120,556
Singapore - 3.0%
DBS Group Holdings Ltd.	11,300	130,638
Singapore Telecommunications Ltd.	128,100	401,707
Spain - 1.5%
Almirall S.A.	2,478	39,799
Banco de Sabadell S.A.	57,162	78,168
Banco Santander S.A.	7,631	32,396
Iberdrola S.A.	17,167	117,954
Sweden - 1.3%
Svenska Cellulosa AB SCA, Class B	7,734	229,922
Switzerland - 4.4%
Geberit AG	84	32,395
Nestle S.A.	538	43,111
Novartis AG	4,519	374,821
Roche Holding AG	268	68,412
Swiss Re AG	2,478	207,722
Ypsomed Holding AG*	253	50,183
United Kingdom - 19.5%
Anglo American PLC	6,260	68,561
AstraZeneca PLC	1,463	97,945
Aviva PLC	21,679	111,637
BAE Systems PLC	21,099	148,971
Barclays PLC	48,034	97,940
Barratt Developments PLC	5,624	32,566
Bellway PLC	3,348	92,815
Bovis Homes Group PLC	2,041	22,104
BP PLC	48,803	276,111
British American Tobacco PLC	4,263	272,086
BT Group PLC	23,913	130,647
GlaxoSmithKline PLC	7,910	176,654
HSBC Holdings PLC	34,256	224,538
Imperial Brands PLC	7,667	404,028
Investec PLC	8,935	53,183
John Wood Group PLC	5,768	50,463
Lloyds Banking Group PLC	195,544	137,536
National Grid PLC	5,937	85,130
Persimmon PLC	6,007	134,122
Reckitt Benckiser Group PLC	872	84,549

Royal Dutch Shell PLC, Class B		16,108		428,453
Taylor Wimpey PLC		64,418		131,818
WPP PLC		7,048		158,140
Total common stocks (cost $16,948,350)				16,712,518
EXCHANGE TRADED FUNDS - 3.0%
iShares MSCI EAFE ETF		9,100		527,982
Total exchange traded funds (cost $517,593)				527,982
MONEY MARKET FUNDS - 2.0%
Fidelity Institutional Money Market Funds - Government Portfolio - Institutional Shares, 0.25%#		351,956		351,956
Total money market funds (cost $351,956)				351,956
Total investment portfolio (cost $17,817,899) - 100.1%‡				17,592,456
Liabilities in excess of other assets - (0.1)%				(25,881	)
Total net assets - 100.0%			$	17,566,575
*Non-income producing security
#Annualized seven-day yield as of July 31, 2016.
‡ As of July 31, 2016, aggregate cost for federal income tax purposes was $17,845,311. Net unrealized appreciation (depreciation) on a tax-basis was $(252,855), including aggregate gross unrealized appreciation and depreciation of $2,136,769 and $(2,389,624), respectively. The difference between book-basis and tax-basis unrealized appreciation (depreciation) was primarily attributable to deferral of losses from wash sales. Because tax adjustments are calculated annually, these amounts reflect the tax adjustments outstanding as of the Fund's previous fiscal year-end.
ETF—Exchange Traded Fund
Sector Allocation
Sector	Percent of net assets
Financials				18.9	%
Consumer discretionary				14.5	%
Health care				12.0	%
Industrials				10.8	%
Materials				9.7	%
Consumer staples				9.1	%
Telecommunication services				8.0	%
Utilities				6.1	%
Energy				5.2	%
Exchange traded funds				3.0	%
Money market funds				2.0	%
Information technology				0.8	%

Industry Allocation
Industry	Value		Percent of net assets
Banks	$	2,008,289		11.4	%
Pharmaceuticals		1,603,835		9.1	%
Automobiles		1,103,897		6.3	%
Insurance		1,066,833		6.1	%
Diversified telecommunication services		1,037,779		5.9	%
Oil, gas & consumable fuels		868,182		4.9	%
Metals & mining		768,166		4.4	%
Trading companies & distributors		750,476		4.3	%
Auto components		734,271		4.2	%
Electric utilities		701,978		4.0	%
Tobacco		676,114		3.8	%
Exchange traded funds		527,982		3.0	%
Chemicals		521,507		3.0	%
Household durables		413,425		2.4	%
Multi-utilities		364,823		2.1	%
Wireless telecommunication services		357,066		2.0	%
Money market funds		351,956		2.0	%
Food products		342,724		2.0	%
Health care providers & services		318,587		1.8	%
Household products		314,471		1.8	%
Construction & engineering		310,457		1.8	%
Industrial conglomerates		202,006		1.1	%
Media		196,147		1.1	%
Containers & packaging		183,813		1.0	%
Electrical equipment		165,456		0.9	%
Airlines		159,014		0.9	%
Construction materials		158,480		0.9	%
Real estate management & development		150,147		0.9	%
Aerospace & defense		148,971		0.8	%
Beverages		145,999		0.8	%
Life sciences tools & services		132,902		0.8	%
Food & staples retailing		115,463		0.7	%
Capital markets		98,626		0.6	%
Marine		89,206		0.5	%
IT services		87,835		0.5	%
Building products		77,225		0.4	%
Paper & forest products		74,839		0.4	%
Leisure products		57,526		0.3	%
Energy equipment & services		50,463		0.3	%
Health care equipment & supplies		50,183		0.3	%
Textiles, apparel & luxury goods		45,929		0.3	%
Semiconductors & semiconductor equipment		41,637		0.2	%
Electronic equipment, instruments & components		17,771		0.1	%
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of Morgan Stanley Capital International, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.

 

Investment Portfolios
(UNAUDITED)  |  07.31.16
EAGLE INVESTMENT GRADE BOND FUND
CORPORATE BONDS - 55.1%	Principal amount (in thousands)		Value
Aerospace & defense - 0.4%
Rolls-Royce PLC, 144A, 2.38%, 10/14/20 (a)		200	$	204,720
Auto components - 1.0%
Delphi Automotive PLC, 3.15%, 11/19/20		497		516,783
Auto manufacturers - 2.1%
Ford Motor Credit Co. LLC, 2.02%, 05/03/19		250		252,176
General Motors Financial Co., Inc., 3.20%, 07/06/21		250		253,750
Hyundai Capital America,
144A, 2.40%, 10/30/18 (a)		250		253,786
144A, 2.45%, 06/15/21 (a)		250		253,287
Banks - 7.3%
BankUnited, Inc., 4.88%, 11/17/25		250		260,027
BB&T Corp., 2.45%, 01/15/20		250		258,095
Capital One NA, 2.40%, 09/05/19		250		254,369
Citigroup, Inc., 2.70%, 03/30/21		250		255,238
Citizens Bank NA, 2.45%, 12/04/19		250		254,703
First Tennessee Bank NA, 2.95%, 12/01/19		250		252,247
JPMorgan Chase & Co., 2.55%, 03/01/21		250		256,276
Manufacturer & Traders Trust Co., 2.30%, 01/30/19		250		255,025
National Australia Bank Ltd., 144A, 2.25%, 07/01/19 (a)		250		252,782
PNC Bank NA, 2.30%, 06/01/20		250		256,906
Regions Financial Corp., 3.20%, 02/08/21		250		260,975
Royal Bank Of Canada, 2.10%, 10/14/20		250		255,887
SunTrust Banks, Inc., 2.90%, 03/03/21		250		261,105
The Huntington National Bank, 2.40%, 04/01/20		250		253,921
Beverages - 0.5%
Anheuser Busch InBev Finance, Inc., 3.65%, 02/01/26		250		267,290
Biotechnology - 0.6%
Biogen, Inc., 2.90%, 09/15/20		150		156,860
Celgene Corp., 3.95%, 10/15/20		135		145,700
Capital markets - 1.2%
Legg Mason, Inc., 2.70%, 07/15/19		59		60,168
The Goldman Sachs Group, Inc.,
2.63%, 04/25/21		250		254,588
2.88%, 02/25/21		250		256,477
Communications equipment - 0.2%
Juniper Networks, Inc., 3.13%, 02/26/19		100		102,657
Computers - 0.5%
Diamond 1 Finance Corp. / Diamond 2 Finance Corp., 144A, 4.42%, 06/15/21 (a)		250		261,408
Consumer finance - 0.5%
Synchrony Financial, 3.00%, 08/15/19		250		255,501

Diversified financial services - 1.6%
Intercontinental Exchange, Inc., 2.75%, 12/01/20	250	261,400
Moody's Corp., 2.75%, 07/15/19	250	257,919
S&P Global, Inc., 2.50%, 08/15/18	250	253,940
Diversified telecommunication services - 0.6%
AT&T, Inc., 5.88%, 10/01/19	250	283,594
Electric - 1.6%
Exelon Generation Co. LLC, 5.20%, 10/01/19	250	276,294
NextEra Energy Capital Holdings, Inc., 2.70%, 09/15/19	250	256,682
PSEG Power LLC, 5.13%, 04/15/20	210	232,624
Electric utilities - 0.5%
The Southern Co., 2.15%, 09/01/19	250	255,524
Electronic equipment, instruments & components - 1.1%
Amphenol Corp., 3.13%, 09/15/21	250	259,363
FLIR Systems, Inc., 3.13%, 06/15/21	250	259,164
Electronics - 0.5%
Tyco Electronics Group S.A., 2.38%, 12/17/18	250	251,477
Food - 1.1%
Kraft Heinz Foods Co.,
144A, 2.80%, 07/02/20 (a)	250	261,204
144A, 3.00%, 06/01/26 (a)	250	255,890
Food & staples retailing - 0.5%
Walgreens Boots Alliance, Inc., 2.60%, 06/01/21	250	256,244
Food products - 1.6%
Ingredion, Inc., 1.80%, 09/25/17	250	251,619
Mead Johnson Nutrition Co., 3.00%, 11/15/20	250	263,435
The J.M. Smucker Co., 2.50%, 03/15/20	250	257,308
Gas - 0.5%
Dominion Gas Holdings LLC, 2.50%, 12/15/19	250	256,401
Health care equipment & supplies - 2.0%
Becton Dickinson and Co., 2.68%, 12/15/19	250	259,228
CareFusion Corp., 6.38%, 08/01/19	103	116,177
Edwards Lifesciences Corp., 2.88%, 10/15/18	250	256,052
St. Jude Medical, Inc., 2.80%, 09/15/20	100	103,733
Zimmer Biomet Holdings, Inc., 2.70%, 04/01/20	250	255,135
Health care providers & services - 2.2%
Aetna, Inc., 3.95%, 09/01/20	250	268,248
Express Scripts Holding Co., 3.90%, 02/15/22	250	271,027
Owens & Minor, Inc., 3.88%, 09/15/21	500	519,065
Household durables - 0.3%
Newell Brands, Inc., 2.15%, 10/15/18	150	152,467

Insurance - 4.4%
Assurant, Inc., 2.50%, 03/15/18	500	505,085
Chubb INA Holdings, Inc., 2.30%, 11/03/20	250	257,538
Metropolitan Life Global Funding I, 144A, 2.30%, 04/10/19 (a)	500	511,369
Principal Life Global Funding II, 144A, 1.50%, 04/18/19 (a)	250	251,234
TIAA Asset Management Finance Co. LLC, 144A, 4.13%, 11/01/24 (a)	335	354,178
Trinity Acquisition PLC, 3.50%, 09/15/21	250	262,197
Internet software & services - 0.5%
Tencent Holdings Ltd., 144A, 2.88%, 02/11/20 (a)	250	257,244
IT services - 1.9%
Broadridge Financial Solutions, Inc., 3.95%, 09/01/20	250	265,227
Fidelity National Information Services, Inc., 2.85%, 10/15/18	250	256,300
Fiserv, Inc., 4.63%, 10/01/20	100	111,174
Total System Services, Inc., 2.38%, 06/01/18	300	301,748
Life sciences tools & services - 0.5%
Thermo Fisher Scientific, Inc., 3.00%, 04/15/23	250	258,055
Machinery - 0.5%
Fortive Corp., 144A, 1.80%, 06/15/19 (a)	250	251,707
Media - 2.6%
Discovery Communications LLC, 5.63%, 08/15/19	200	219,774
Scripps Networks Interactive, Inc., 2.80%, 06/15/20	250	254,376
Sky PLC, 144A, 9.50%, 11/15/18 (a)	205	239,800
The Interpublic Group of Cos., Inc., 4.20%, 04/15/24	291	316,828
Time Warner Cable, Inc., 5.00%, 02/01/20	250	273,036
Multi-utilities - 0.2%
CenterPoint Energy, Inc., 6.50%, 05/01/18	100	107,829
Oil & gas - 0.5%
ConocoPhillips Co., 4.20%, 03/15/21	250	266,687
Oil & gas services - 0.5%
Schlumberger Holdings Corp., 144A, 3.00%, 12/21/20 (a)	250	262,656
Oil, gas & consumable fuels - 2.4%
HollyFrontier Corp., 5.88%, 04/01/26	250	270,063
Kinder Morgan Energy Partners LP, 2.65%, 02/01/19	250	252,511
Magellan Midstream Partners LP, 6.55%, 07/15/19	250	281,617
ONEOK Partners LP, 3.80%, 03/15/20	100	103,281
Williams Partners LP, 5.25%, 03/15/20	250	262,813
Pharmaceuticals - 2.0%
Allergan, Inc., 3.38%, 09/15/20	200	208,927
Bayer US Finance LLC, 144A, 3.00%, 10/08/21 (a)	500	523,385
Mylan N.V., 144A, 2.50%, 06/07/19 (a)	250	254,582
Pipelines - 0.6%
Enterprise Products Operating LLC, 4.05%, 02/15/22	250	270,935
Private equity - 0.5%
Apollo Management Holdings LP, 144A, 4.40%, 05/27/26 (a)	250	260,003

Professional services - 0.8%
The Dun & Bradstreet Corp., 4.00%, 06/15/20	100	104,017
Verisk Analytics, Inc., 5.80%, 05/01/21	250	286,157
Real estate investment trusts (REITs) - 1.6%
American Tower Corp., 3.30%, 02/15/21	250	262,977
Omega Healthcare Investors, Inc., 4.38%, 08/01/23	250	252,500
Ventas Realty LP, 3.13%, 06/15/23	250	254,021
Road & rail - 0.3%
Ryder System, Inc., 2.65%, 03/02/20	150	153,176
Semiconductors & semiconductor equipment - 1.1%
KLA-Tencor Corp., 3.38%, 11/01/19	250	258,625
Lam Research Corp., 3.45%, 06/15/23	250	261,117
Software - 1.8%
CA, Inc.,
2.88%, 08/15/18	250	254,547
5.38%, 12/01/19	93	102,847
Electronic Arts, Inc., 3.70%, 03/01/21	250	266,426
Intuit, Inc., 5.75%, 03/15/17	250	257,330
Specialty retail - 1.4%
AutoNation, Inc., 6.75%, 04/15/18	250	268,094
O'Reilly Automotive, Inc., 3.80%, 09/01/22	397	425,380
Technology hardware, storage & peripherals - 2.1%
EMC Corp., 1.88%, 06/01/18	250	247,717
Hewlett Packard Enterprise Co., 144A, 2.45%, 10/05/17 (a)	250	253,045
HP, Inc., 4.65%, 12/09/21	250	274,602
NetApp, Inc., 3.38%, 06/15/21	250	256,680
Trading companies & distributors - 0.5%
Air Lease Corp., 2.63%, 09/04/18	250	252,500
Total corporate bonds (cost $26,467,557)		27,097,838
MORTGAGE AND ASSET-BACKED SECURITIES - 27.8%
Asset-backed securities - 6.4%
Citibank Credit Card Issuance Trust, Series 2008-1A, Class A-1, 5.35%, 02/07/20	415	440,782
Ford Credit Auto Owners Trust,
Series 2012-C, Class D, 2.43%, 01/15/19	1,000	1,001,048
Series 2015-A, Class A-4, 1.64%, 06/15/20	350	352,839
Hyundai Auto Receivables Trust, Series 2014-A, Class B, 1.73%, 08/15/19	1,000	1,001,015
Toyota Auto Receivables Owner Trust, Series 2015-C, Class A-4, 1.69%, 12/15/20	350	354,377
Federal agency mortgage-backed obligations - 21.4%
Fannie Mae Pool,
Series 0323, Class AS, 2.50%, 08/01/23	430	446,459
Series 0798, Class AK, 3.50%, 01/01/27	413	438,756
Series 1895, Class MA, 2.50%, 05/01/24	371	385,064
Series 1935, Class MA, 3.00%, 06/01/24	354	371,684
Series 2020, Class MA, 2.50%, 09/01/24	371	385,112
Series 2126, Class MA, 3.50%, 12/01/24	541	575,526
Series 2154, Class MA, 3.00%, 01/01/25	421	442,360

Series 2185, Class MA, 3.00%, 02/01/25		372		390,875
Series 2233, Class MA, 2.50%, 04/01/25		393		408,827
Series 2239, Class MA, 3.00%, 04/01/25		786		826,194
Series 2570, Class MA, 3.00%, 03/01/26		586		616,964
Series 2612, Class MA, 2.50%, 05/01/26		530		551,093
Series 7446, Class AA, 4.00%, 06/01/24		180		191,981
Freddie Mac Gold Pool,
Series 13368, Class G, 6.00%, 11/01/23		380		412,514
Series 18509, Class G, 3.50%, 04/01/29		492		522,459
Series 18513, Class G, 3.50%, 05/01/29		402		427,511
Series 18519, Class G, 3.50%, 07/01/29		876		930,553
Series 18592, Class G, 3.00%, 03/01/31		580		609,160
Series 18597, Class G, 3.50%, 04/01/31		735		781,592
Ginnie Mae I Pool, Series 783112, 5.50%, 09/15/22		283		300,492
Ginnie Mae II Pool, Series 5107, 4.00%, 07/20/26		467		497,399
Total mortgage and asset-backed securities (cost $13,534,623)				13,662,636
FOREIGN GOVERNMENT BONDS - 0.3%
Province of Alberta Canada, 144A, 1.75%, 08/26/20 (a)		150		152,493
Total foreign government bonds (cost $149,308)				152,493
U.S. TREASURIES - 8.3%
U.S. Treasury Notes, 2.63%, 04/30/18		3,950		4,084,547
Total U.S. Treasuries (cost $4,080,121)				4,084,547
U.S. GOVERNMENT AGENCY SECURITIES - 1.7%
Private Export Funding Corp., Series BB, 4.30%, 12/15/21		750		860,866
Total U.S. Government agency securities (cost $847,341)				860,866
SUPRANATIONAL BANKS - 3.1%
Inter-American Development Bank,
1.75%, 10/15/19		1,000		1,019,257
1.88%, 06/16/20		500		514,090
Total supranational banks (cost $1,495,090)				1,533,347
MONEY MARKET FUNDS - 2.3%	Shares		Value
Fidelity Institutional Money Market Funds - Government Portfolio - Institutional Shares, 0.25% #		1,151,581		1,151,581
Total money market funds (cost $1,151,581)				1,151,581
Total investment portfolio (cost $47,725,621) - 98.6%‡				48,543,308
Other assets in excess of liabilities - 1.4%				703,649
Total net assets - 100.0%			$	49,246,957
(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At July 31, 2016, these securities aggregated $5,314,773 or 10.8% of the net assets of the Fund.
#Annualized seven-day yield as of July 31, 2016.
‡ As of July 31, 2016, aggregate cost for federal income tax purposes was $47,725,621. Net unrealized appreciation (depreciation) on a tax-basis was $817,687, including aggregate gross unrealized appreciation and depreciation of $828,060 and $(10,373), respectively. The difference between book-basis and tax-basis unrealized appreciation (depreciation) was primarily attributable to deferral of losses from wash sales. Because tax adjustments are calculated annually, these amounts reflect the tax adjustments outstanding as of the Fund's previous fiscal year-end.
144A - Securities are purchased under Rule 144A of the Securities Act of 1933 or are private placements and, unless registered under the Securities Act of 1933 or exempted from registration, generally may only be sold to qualified institutional buyers.

Investment Portfolios
(UNAUDITED)  |  07.31.16
EAGLE MID CAP GROWTH FUND
COMMON STOCKS - 99.5%	Shares		Value
Aerospace & defense - 0.9%
Hexcel Corp.		311,742	$	13,457,902
Airlines - 1.8%
Delta Air Lines, Inc.		410,503		15,906,991
Southwest Airlines Co.		293,333		10,856,255
Banks - 0.9%
Signature Bank*		107,196		12,889,247
Beverages - 4.1%
Constellation Brands, Inc., Class A		258,453		42,549,117
Monster Beverage Corp.*		108,135		17,369,725
Biotechnology - 0.8%
BioMarin Pharmaceutical, Inc.*		116,695		11,601,817
Building products - 2.7%
A.O. Smith Corp.		149,684		13,904,147
Allegion PLC		117,866		8,532,320
Fortune Brands Home & Security, Inc.		264,253		16,719,287
Capital markets - 2.3%
Ameriprise Financial, Inc.		208,807		20,012,063
TD Ameritrade Holding Corp.		456,665		13,864,349
Chemicals - 1.5%
Huntsman Corp.		570,755		8,823,873
The Sherwin-Williams Co.		44,003		13,189,019
Commercial services & supplies - 2.7%
Waste Connections, Inc.		520,236		38,747,177
Communications equipment - 0.5%
Palo Alto Networks, Inc.*		60,311		7,894,107
Construction materials - 1.9%
Martin Marietta Materials, Inc.		137,788		27,922,738
Diversified financial services - 2.0%
FactSet Research Systems, Inc.		79,098		13,601,692
Moody's Corp.		146,299		15,509,157
Diversified telecommunication services - 1.8%
SBA Communications Corp., Class A*		221,878		25,515,970
Electrical equipment - 2.3%
Acuity Brands, Inc.		74,410		19,527,416
Sensata Technologies Holding N.V.*		374,614		14,205,363
Electronic equipment, instruments & components - 1.6%
Amphenol Corp., Class A		225,639		13,430,033
IPG Photonics Corp.*		108,071		9,109,305

Food products - 2.0%
The Hain Celestial Group, Inc.*	175,510	9,265,173
The WhiteWave Foods Co.*	364,468	20,224,329
Health care equipment & supplies - 6.9%
ABIOMED, Inc.*	84,991	10,026,388
Align Technology, Inc.*	118,553	10,569,000
DexCom, Inc.*	92,921	8,570,104
Edwards Lifesciences Corp.*	192,424	22,036,396
Intuitive Surgical, Inc.*	34,228	23,814,473
The Cooper Companies, Inc.	81,221	14,820,396
West Pharmaceutical Services, Inc.	126,417	10,148,757
Health care providers & services - 5.7%
Acadia Healthcare Co., Inc.*	165,751	9,364,931
AmerisourceBergen Corp.	138,694	11,815,342
Centene Corp.*	250,274	17,656,831
Cigna Corp.	63,518	8,191,281
Envision Healthcare Holdings, Inc.*	406,013	9,983,860
Universal Health Services, Inc., Class B	94,902	12,292,656
VCA, Inc.*	195,143	13,921,502
Health care technology - 0.5%
Cerner Corp.*	123,830	7,725,754
Hotels, restaurants & leisure - 4.5%
Dominos Pizza, Inc.	97,381	14,344,221
Interval Leisure Group, Inc.	508,748	9,147,289
Royal Caribbean Cruises Ltd.	375,140	27,175,142
Starwood Hotels & Resorts Worldwide, Inc.	182,988	14,284,043
Household durables - 3.2%
Harman International Industries, Inc.	317,865	26,268,363
Lennar Corp., Class A	431,801	20,208,287
Household products - 1.8%
Church & Dwight Co., Inc.	272,978	26,817,359
Internet & catalog retail - 2.3%
Liberty Interactive Corp. QVC Group, Class A*	966,079	25,900,578
TripAdvisor, Inc.*	103,534	7,244,274
Internet software & services - 1.6%
CoStar Group, Inc.*	38,940	8,095,626
LinkedIn Corp., Class A*	51,032	9,835,397
Twitter, Inc.*	361,093	6,008,588
IT services - 2.0%
FleetCor Technologies, Inc.*	52,050	7,894,944
Gartner, Inc.*	74,145	7,433,036
Sabre Corp.	456,187	13,297,851
Leisure products - 1.0%
Brunswick Corp.	286,335	14,207,943
Life sciences tools & services - 0.5%
Illumina, Inc.*	43,827	7,290,621

Machinery - 1.5%
The Middleby Corp.*	98,200	11,821,316
WABCO Holdings, Inc.*	92,093	9,234,165
Media - 2.9%
Lions Gate Entertainment Corp.	546,122	10,916,979
Sirius XM Holdings, Inc.*	7,119,229	31,253,415
Multiline retail - 1.4%
Dollar Tree, Inc.*	120,860	11,637,610
Macy's, Inc.	226,523	8,116,319
Oil, gas & consumable fuels - 2.8%
Diamondback Energy, Inc.*	237,640	20,862,416
RSP Permian, Inc.*	536,477	19,286,348
Professional services - 2.1%
IHS Markit Ltd.*	467,928	16,255,806
Verisk Analytics, Inc.*	169,493	14,454,363
Real estate investment trusts (REITs) - 3.4%
Brixmor Property Group, Inc.	670,356	19,038,111
Crown Castle International Corp.	186,171	18,064,172
Equity Residential	190,694	12,965,285
Road & rail - 0.6%
Old Dominion Freight Line, Inc.*	129,111	8,993,872
Semiconductors & semiconductor equipment - 4.2%
Lam Research Corp.	79,846	7,167,775
Microchip Technology, Inc.	293,047	16,305,135
Micron Technology, Inc.*	805,022	11,061,002
NVIDIA Corp.	264,379	15,096,041
Skyworks Solutions, Inc.	167,845	11,081,127
Software - 7.7%
ANSYS, Inc.*	146,020	13,048,347
Autodesk, Inc.*	230,722	13,716,423
Cadence Design Systems, Inc.*	387,598	9,321,732
Electronic Arts, Inc.*	149,000	11,371,680
Mobileye N.V.*	311,395	14,918,934
ServiceNow, Inc.*	122,880	9,206,170
Splunk, Inc.*	205,016	12,821,701
Synopsys, Inc.*	213,577	11,567,330
Tableau Software, Inc., Class A*	126,833	7,167,333
The Ultimate Software Group, Inc.*	39,102	8,176,228
Specialty retail - 8.8%
American Eagle Outfitters, Inc.	731,712	13,112,279
AutoZone, Inc.*	17,675	14,386,920
Burlington Stores, Inc.*	313,503	23,986,114
O'Reilly Automotive, Inc.*	60,492	17,580,790
Sally Beauty Holdings, Inc.*	833,185	24,437,316
Tractor Supply Co.	247,732	22,704,638
Ulta Salon, Cosmetics & Fragrance, Inc.*	41,662	10,882,531
Technology hardware, storage & peripherals - 0.8%
Seagate Technology PLC	383,444	12,281,711

Textiles, apparel & luxury goods - 0.8%
Lululemon Athletica, Inc.*	140,732		10,927,840
Trading companies & distributors - 2.7%
AerCap Holdings N.V.*	277,997		10,149,671
HD Supply Holdings, Inc.*	453,300		16,404,927
United Rentals, Inc.*	151,635		12,080,760
Total common stocks (cost $1,138,060,767)			1,444,882,437
MONEY MARKET FUNDS - 0.0%
Fidelity Institutional Money Market Funds - Government Portfolio - Institutional Shares, 0.25%#	1,170		1,170
Total money market funds (cost $1,170)			1,170
Total investment portfolio (cost $1,138,061,937) - 99.5%‡			1,444,883,607
Other assets in excess of liabilities - 0.5%			7,009,919
Total net assets - 100.0%		$	1,451,893,526
* Non-income producing security
# Annualized seven-day yield as of July 31, 2016.
‡ As of July 31, 2016, aggregate cost for federal income tax purposes was $1,141,261,320. Net unrealized appreciation (depreciation) on a tax-basis was $303,622,287, including aggregate gross unrealized appreciation and depreciation of $338,446,109 and $(34,823,822), respectively. The difference between book-basis and tax-basis unrealized appreciation (depreciation) was primarily attributable to deferral of losses from wash sales. Because tax adjustments are calculated annually, these amounts reflect the tax adjustments outstanding as of the Fund's previous fiscal year-end.
Sector allocation
Sector		Percent of net assets
Consumer discretionary			24.7	%
Information technology			18.4	%
Industrials			17.3	%
Health care			14.4	%
Financials			8.7	%
Consumer staples			8.0	%
Materials			3.4	%
Energy			2.8	%
Telecommunication services			1.8	%
Money market funds			0.0	%

Investment Portfolios
(UNAUDITED)  |  07.31.16
EAGLE MID CAP STOCK FUND
COMMON STOCKS - 97.3%	Shares		Value
Aerospace & defense - 1.2%
B/E Aerospace, Inc.		37,238	$	1,781,280
Rockwell Collins, Inc.		19,276		1,631,135
Auto components - 0.9%
Delphi Automotive PLC		36,644		2,485,196
Banks - 4.5%
East West Bancorp, Inc.		102,364		3,502,896
First Republic Bank		41,265		2,957,463
Signature Bank*		24,675		2,966,922
SVB Financial Group*		29,172		2,929,452
Beverages - 2.2%
Constellation Brands, Inc., Class A		36,703		6,042,415
Biotechnology - 0.6%
Cepheid *		50,682		1,790,595
Capital markets - 1.9%
Affiliated Managers Group, Inc.*		19,355		2,840,927
Lazard Ltd., Class A		66,121		2,363,164
Chemicals - 1.1%
Albemarle Corp.		19,517		1,642,746
The Sherwin-Williams Co.		4,670		1,399,739
Commercial services & supplies - 2.8%
Stericycle, Inc.*		50,129		4,525,145
Waste Connections, Inc.		42,392		3,157,356
Communications equipment - 0.8%
F5 Networks, Inc.*		17,097		2,110,112
Construction & engineering - 0.9%
Quanta Services, Inc.*		102,009		2,611,430
Consumer finance - 1.5%
Discover Financial Services		74,641		4,242,594
Containers & packaging - 2.5%
Berry Plastics Group, Inc.*		76,023		3,116,943
Crown Holdings, Inc.*		71,448		3,784,601
Distributors - 2.1%
LKQ Corp.*		168,365		5,790,072
Diversified financial services - 0.7%
NASDAQ, Inc.		27,682		1,958,778
Electrical equipment - 2.4%
Acuity Brands, Inc.		9,848		2,584,410
AMETEK, Inc.		85,325		4,012,835

Electronic equipment, instruments & components - 3.4%
Amphenol Corp., Class A	57,988	3,451,446
Cognex Corp.	56,025	2,530,649
FLIR Systems, Inc.	103,290	3,365,188
Energy equipment & services - 1.8%
Core Laboratories N.V.	20,043	2,341,223
FMC Technologies, Inc.*	54,340	1,379,149
Weatherford International PLC*	214,803	1,220,081
Food products - 2.6%
The Hain Celestial Group, Inc.*	57,243	3,021,858
The WhiteWave Foods Co.*	75,735	4,202,535
Health care equipment & supplies - 6.9%
DENTSPLY SIRONA, Inc.	68,079	4,359,779
Edwards Lifesciences Corp.*	17,999	2,061,246
STERIS PLC	49,283	3,496,629
Teleflex, Inc.	17,240	3,108,544
The Cooper Companies, Inc.	16,296	2,973,531
Varian Medical Systems, Inc.*	31,920	3,024,101
Health care providers & services - 4.1%
Acadia Healthcare Co., Inc.*	36,106	2,039,989
Centene Corp.*	44,553	3,143,214
Laboratory Corp. of America Holdings*	27,293	3,809,011
MEDNAX, Inc.*	34,056	2,346,799
Hotels, restaurants & leisure - 2.3%
Chipotle Mexican Grill, Inc.*	3,572	1,514,492
Panera Bread Co., Class A*	9,314	2,042,746
Wyndham Worldwide Corp.	39,934	2,836,113
Household durables - 1.4%
Mohawk Industries, Inc.*	18,544	3,874,583
Household products - 2.0%
Church & Dwight Co., Inc.	28,132	2,763,688
Spectrum Brands Holdings, Inc.	20,731	2,669,531
Industrial conglomerates - 1.2%
Roper Technologies, Inc.	20,012	3,409,244
Insurance - 4.7%
Arch Capital Group Ltd.*	38,914	2,826,324
Arthur J Gallagher & Co.	120,005	5,903,046
Reinsurance Group of America, Inc.	44,516	4,418,213
Internet & catalog retail - 1.1%
Liberty Interactive Corp., QVC Group, Class A*	117,948	3,162,186
IT services - 3.4%
Amdocs Ltd.	74,927	4,372,740
Fiserv, Inc.*	46,560	5,138,361
Life sciences tools & services - 1.3%
Agilent Technologies, Inc.	76,251	3,668,436

Machinery - 3.4%
IDEX Corp.	15,762	1,415,270
Snap-on, Inc.	11,914	1,872,523
The Middleby Corp.*	32,120	3,866,606
Wabtec Corp.	34,687	2,376,059
Media - 1.0%
Omnicom Group, Inc.	33,852	2,785,681
Metals & mining - 0.6%
Steel Dynamics, Inc.	60,189	1,614,269
Multiline retail - 1.3%
Dollar Tree, Inc.*	36,855	3,548,768
Multi-utilities - 1.0%
CMS Energy Corp.	61,845	2,794,157
Oil, gas & consumable fuels - 4.1%
Cimarex Energy Co.	27,380	3,286,148
Concho Resources, Inc.*	25,889	3,215,414
Noble Energy, Inc.	58,921	2,104,658
Range Resources Corp.	71,955	2,900,506
Pharmaceuticals - 2.0%
Perrigo Co. PLC	17,618	1,610,109
Zoetis, Inc.	76,216	3,846,622
Professional services - 0.7%
Verisk Analytics, Inc.*	22,360	1,906,861
Real estate investment trusts (REITs) - 3.3%
Boston Properties, Inc.	24,512	3,483,891
Essex Property Trust, Inc.	11,159	2,609,867
Extra Space Storage, Inc.	34,625	2,978,443
Road & rail - 1.9%
Genesee & Wyoming, Inc., Class A*	40,010	2,590,647
J.B. Hunt Transport Services, Inc.	31,705	2,635,637
Semiconductors & semiconductor equipment - 2.7%
Microchip Technology, Inc.	67,876	3,776,621
Skyworks Solutions, Inc.	56,793	3,749,474
Software - 6.0%
ANSYS, Inc.*	50,303	4,495,076
Manhattan Associates, Inc.*	46,775	2,715,289
NICE- Systems Ltd., Sponsored ADR	74,895	5,141,542
Nuance Communications, Inc.*	94,931	1,525,541
The Ultimate Software Group, Inc.*	13,342	2,789,812
Specialty retail - 3.9%
Foot Locker, Inc.	28,625	1,706,623
Tractor Supply Co.	52,915	4,849,660
Ulta Salon, Cosmetics & Fragrance, Inc.*	15,969	4,171,262
Textiles, apparel & luxury goods - 2.3%
Hanesbrands, Inc.	141,763	3,779,402
PVH Corp.	25,442	2,571,168

Trading companies & distributors - 0.8%
Fastenal Co.		50,506		2,159,132
Total common stocks (cost $212,735,417)				269,575,619
MONEY MARKET FUNDS - 3.2%
Fidelity Institutional Money Market Funds - Government Portfolio - Institutional Shares, 0.25%#		8,732,929		8,732,929
Total money market funds (cost $8,732,929)				8,732,929
Total investment portfolio (cost $221,468,346) - 100.5%‡				278,308,548
Liabilities in excess of other assets - (0.5)%				(1,417,136	)
Total net assets - 100.0%			$	276,891,412
* Non-income producing security
# Annualized seven-day yield as of July 31, 2016.
‡ As of July 31, 2016, aggregate cost for federal income tax purposes was $222,868,452. Net unrealized appreciation (depreciation) on a tax-basis was $55,440,096, including aggregate gross unrealized appreciation and depreciation of $63,813,646 and $(8,373,550), respectively. The difference between book-basis and tax-basis unrealized appreciation (depreciation) was primarily attributable to deferral of losses from wash sales. Because tax adjustments are calculated annually, these amounts reflect the tax adjustments outstanding as of the Fund's previous fiscal year-end.
ADR - American depository receipt
Sector allocation
Sector	Percent of net assets
Financials				16.6	%
Information technology				16.3	%
Consumer discretionary				16.3	%
Industrials				15.4	%
Health care				14.9	%
Consumer staples				6.7	%
Energy				5.9	%
Materials				4.2	%
Money market funds				3.2	%
Utilities				1.0	%

Investment Portfolios
(UNAUDITED)  |  07.31.16
EAGLE SMALL CAP GROWTH FUND
COMMON STOCKS - 96.3%	Shares		Value
Aerospace & defense - 1.1%
Hexcel Corp.		1,056,896	$	45,626,200
Air freight & logistics - 0.1%
Echo Global Logistics, Inc.*		239,149		5,921,329
Airlines - 1.4%
JetBlue Airways Corp.*		3,301,495		60,516,403
Banks - 1.4%
Synovus Financial Corp.		1,367,468		41,625,726
UMB Financial Corp.		328,509		18,202,684
Biotechnology - 7.7%
ACADIA Pharmaceuticals, Inc.*		648,385		24,016,180
Acceleron Pharma, Inc.*		498,645		16,914,038
Acorda Therapeutics, Inc.*		1,127,320		28,498,650
Aimmune Therapeutics, Inc.*		1,467,197		17,591,692
Akebia Therapeutics, Inc.*		1,948,603		17,439,997
Alder Biopharmaceuticals, Inc.*		730,696		23,455,342
Atara Biotherapeutics, Inc.*		841,151		20,187,624
Enanta Pharmaceuticals, Inc.*		704,887		15,852,909
Lexicon Pharmaceuticals, Inc.*		1,575,009		25,704,147
Neurocrine Biosciences, Inc.*		551,582		27,705,964
Novavax, Inc.*		2,274,696		16,650,775
Ophthotech Corp.*		551,756		35,444,805
Portola Pharmaceuticals, Inc.*		587,542		15,252,590
Sage Therapeutics, Inc.*		383,098		17,185,776
Sarepta Therapeutics, Inc.*		256,878		6,493,876
Ultragenyx Pharmaceutical, Inc.*		295,409		18,693,481
Building products - 1.3%
Builders FirstSource, Inc.*		1,809,270		23,321,490
Trex Co., Inc.*		625,000		30,312,500
Capital markets - 1.2%
Stifel Financial Corp.*		1,443,092		51,013,302
Chemicals - 3.1%
Chemtura Corp.*		1,089,498		30,603,999
Huntsman Corp.		2,421,523		37,436,746
Quaker Chemical Corp.		650,346		62,212,098
Commercial services & supplies - 3.2%
Waste Connections, Inc.		1,816,935		135,325,319
Communications equipment - 0.3%
Infinera Corp.*		1,221,608		10,701,286
Construction materials - 1.6%
Martin Marietta Materials, Inc.		343,637		69,638,038
Distributors - 1.2%
Pool Corp.		503,320		51,479,570

Diversified consumer services - 1.1%
Bright Horizons Family Solutions, Inc.*	397,945	26,690,171
Houghton Mifflin Harcourt Co.*	1,197,387	20,295,710
Electrical equipment - 2.1%
Acuity Brands, Inc.	227,359	59,665,822
Thermon Group Holdings, Inc.*	1,391,128	28,072,963
Electronic equipment, instruments & components - 4.5%
Cognex Corp.	991,148	44,770,155
Coherent, Inc.*	885,123	93,867,294
IPG Photonics Corp.*	481,923	40,621,290
Universal Display Corp.*	160,789	11,390,293
Energy equipment & services - 0.2%
Geospace Technologies Corp.*	559,634	9,233,961
Food & staples retailing - 1.4%
Casey's General Stores, Inc.	312,104	41,678,368
Sprouts Farmers Market, Inc.*	738,565	17,083,009
Food products - 3.4%
Pinnacle Foods, Inc.	530,539	26,638,363
Snyder's-Lance, Inc.	617,443	21,153,597
The Hain Celestial Group, Inc.*	969,874	51,199,649
The WhiteWave Foods Co.*	838,980	46,555,000
Health care equipment & supplies - 5.2%
ABIOMED, Inc.*	368,521	43,474,422
Natus Medical, Inc.*	1,439,443	56,613,293
NuVasive, Inc.*	590,328	36,718,402
West Pharmaceutical Services, Inc.	645,527	51,822,908
ZELTIQ Aesthetics, Inc.*	984,983	33,440,173
Health care providers & services - 3.9%
Adeptus Health, Inc., Class A*	457,549	20,392,959
Air Methods Corp.*	919,316	30,604,030
Centene Corp.*	964,442	68,041,383
HealthSouth Corp.	603,031	25,960,484
Team Health Holdings, Inc.*	496,981	20,296,704
Health care technology - 1.6%
Cotiviti Holdings, Inc.*	1,115,444	26,926,818
HMS Holdings Corp.*	2,047,943	40,713,107
Hotels restaurants & leisure - 5.5%
Buffalo Wild Wings, Inc.*	160,127	26,894,931
Chuy's Holdings, Inc.*	890,114	30,014,644
Cracker Barrel Old Country Store, Inc.	147,231	23,175,632
Dominos Pizza, Inc.	368,044	54,212,881
Intrawest Resorts Holdings, Inc.*	1,685,772	24,511,125
Jack in the Box, Inc.	466,254	41,212,191
Penn National Gaming, Inc.*	1,289,265	19,364,760
Planet Fitness, Inc., Class A*	839,200	17,203,600
Household durables - 2.5%
Universal Electronics, Inc.*	1,401,052	108,357,362

Insurance - 1.4%
Enstar Group Ltd.*	192,849	32,126,715
ProAssurance Corp.	526,745	27,211,647
Internet & catalog retail - 1.9%
HSN, Inc.	461,536	23,612,182
Nutrisystem, Inc.	1,933,879	57,204,141
Internet software & services - 2.0%
Cornerstone OnDemand, Inc.*	730,924	31,568,608
WebMD Health Corp.*	495,191	30,211,603
Zillow Group, Inc., Class A*	188,196	7,416,804
Zillow Group, Inc., Class C*	376,392	14,773,386
IT services - 0.1%
Everi Holdings, Inc.*	2,814,421	5,347,400
Leisure products - 0.9%
Brunswick Corp.	795,010	39,448,396
Life sciences tools & services - 1.3%
PAREXEL International Corp.*	446,813	29,869,449
PRA Health Sciences, Inc.*	549,784	25,498,982
Machinery - 2.5%
Graco, Inc.	294,982	21,831,618
Proto Labs, Inc.*	241,232	13,277,409
WABCO Holdings, Inc.*	452,720	45,394,234
Woodward, Inc.	417,322	24,430,030
Multiline retail - 0.5%
Ollie's Bargain Outlet Holdings, Inc.*	856,196	22,380,963
Oil, gas & consumable fuels - 2.0%
Diamondback Energy, Inc.*	330,900	29,049,711
RSP Permian, Inc.*	1,612,345	57,963,803
Pharmaceuticals - 2.2%
Dermira, Inc.*	854,147	28,665,173
Prestige Brands Holdings, Inc.*	863,476	46,195,966
The Medicines Co.*	517,389	20,235,084
Professional services - 0.4%
The Advisory Board Co.*	456,040	19,044,230
Real estate investment trusts (REITs) - 3.2%
CubeSmart	1,089,817	32,378,463
Equity One, Inc.	909,588	30,261,993
Seritage Growth Properties, Class A	571,346	28,601,581
The GEO Group, Inc.	1,283,247	44,413,179
Road & rail - 0.9%
Landstar System, Inc.	570,617	40,222,792
Semiconductors & semiconductor equipment - 2.1%
Cavium, Inc.*	1,014,448	47,344,288
Teradyne, Inc.	886,438	17,507,150
Veeco Instruments, Inc.*	1,594,162	26,734,097

Software - 11.2%
ANSYS, Inc.*	359,070		32,086,495
Aspen Technology, Inc.*	703,661		29,476,359
Ellie Mae, Inc.*	255,896		23,570,581
Fortinet, Inc.*	528,499		18,333,630
Guidewire Software, Inc.*	535,436		32,913,251
Imperva, Inc.*	666,029		31,383,287
Manhattan Associates, Inc.*	611,746		35,511,855
Proofpoint, Inc.*	1,032,558		78,340,176
PTC, Inc.*	1,511,888		60,067,310
RealPage, Inc.*	1,102,340		27,723,851
The Ultimate Software Group, Inc.*	391,923		81,951,099
Tyler Technologies, Inc.*	176,531		28,778,084
Specialty retail - 6.3%
Burlington Stores, Inc.*	1,046,615		80,076,514
Genesco, Inc.*	1,690,793		117,374,850
MarineMax, Inc.*	1,304,566		26,352,233
Sportsman's Warehouse Holdings, Inc.*	492,888		5,017,600
Vitamin Shoppe, Inc.*	1,424,434		41,678,939
Technology hardware, storage & peripherals - 0.5%
Electronics For Imaging, Inc.*	467,901		20,723,335
Textiles,  apparel  &  luxury  goods - 1.2%
Steven Madden Ltd.*	1,461,222		51,171,994
Trading companies & distributors - 0.7%
Air Lease Corp.	658,930		18,983,773
H&E Equipment Services, Inc.	605,641		11,277,036
Total common stocks (cost $3,020,103,372)			4,112,905,319
CONTINGENT VALUE RIGHTS - 0.0%
Biotechnology - 0.0%
Dyax Corp.*(a)	303,243		242,594
Total contingent value rights (cost $142,782)			242,594
MONEY MARKET FUNDS - 3.8%
Fidelity Institutional Money Market Funds - Government Portfolio - Institutional Shares, 0.25%#	161,781,945		161,781,945
Total money market funds (cost $161,781,945)			161,781,945
Total investment portfolio (cost $3,182,028,099) - 100.1%‡			4,274,929,858
Liabilities in excess of other assets - (0.1)%			(2,458,694	)
Total net assets - 100.0%		$	4,272,471,164

(a) Security is fair valued as determined in good faith in accordance with the Pricing and Valuation Procedures approved by the Board of Trustees. The security is also illiquid and may not be sold by the Fund. As of July 31, 2016, the total market value of fair valued and illiquid securities held by the Fund is $242,594, representing less than 0.01% of the Fund's net assets.
* Non-income producing security
# Annualized seven-day yield as of July 31, 2016.
‡ As of July 31, 2016, aggregate cost for federal income tax purposes was $3,201,202,182. Net unrealized appreciation (depreciation) on a tax-basis was $1,073,727,676, including aggregate gross unrealized appreciation and depreciation of $1,231,110,066 and $(157,382,390), respectively. The difference between book-basis and tax-basis unrealized appreciation (depreciation) was primarily attributable to deferral of losses from wash sales. Because tax adjustments are calculated annually, these amounts reflect the tax adjustments outstanding as of the Fund's previous fiscal year-end.
Sector allocation
Sector	Percent of net assets
Health care		21.8	%
Consumer discretionary		21.2	%
Information technology		20.7	%
Industrials		13.6	%
Financials		7.2	%
Consumer staples		4.8	%
Materials		4.7	%
Money market funds		3.8	%
Energy		2.3	%

Investment Portfolios
(UNAUDITED)  |  07.31.16
EAGLE SMALLER COMPANY FUND
COMMON STOCKS - 97.4%	Shares		Value
Aerospace & defense - 2.2%
B/E Aerospace, Inc.		6,448	$	308,440
HEICO Corp.		10,181		707,681
Auto components - 0.7%
Gentherm, Inc.*		9,192		308,484
Banks - 8.2%
Central Pacific Financial Corp.		21,731		533,061
Eagle Bancorp, Inc.*		9,991		515,036
East West Bancorp, Inc.		10,019		342,850
PacWest Bancorp		11,366		469,984
Signature Bank*		2,202		264,769
South State Corp.		6,878		501,475
Talmer Bancorp, Inc., Class A		23,512		494,222
Texas Capital Bancshares, Inc.*		5,235		254,107
Western Alliance Bancorporation*		12,515		425,886
Biotechnology - 0.6%
Cepheid*		8,532		301,436
Building products - 1.1%
A.O. Smith Corp.		5,530		513,682
Capital markets - 1.6%
Evercore Partners, Inc., Class A		8,620		436,775
Financial Engines, Inc.		11,058		291,821
Chemicals - 1.9%
Balchem Corp.		9,297		593,799
Innospec, Inc.		6,061		304,687
Commercial services & supplies - 1.9%
Healthcare Services Group, Inc.		11,570		449,032
Ritchie Bros Auctioneers, Inc.		13,745		456,334
Communications equipment - 0.8%
Plantronics, Inc.		8,041		387,898
Construction & engineering - 0.7%
Primoris Services Corp.		16,979		306,471
Consumer finance - 0.9%
PRA Group, Inc.*		15,153		422,163
Containers & packaging - 2.7%
AptarGroup, Inc.		5,542		433,274
Berry Plastics Group, Inc. *		12,233		501,553
Graphic Packaging Holding Co.		21,921		299,002
Distributors - 0.7%
Core-Mark Holding Co., Inc.		6,992		342,328

Diversified consumer services - 1.0%
Bright Horizons Family Solutions, Inc.*	6,703	449,570
Diversified financial services - 0.7%
NASDAQ, Inc.	4,678	331,015
Electric utilities - 1.0%
ALLETE, Inc.	7,012	447,716
Electronic equipment, instruments & components - 2.5%
Cognex Corp.	10,064	454,591
FLIR Systems, Inc.	22,154	721,777
Energy equipment & services - 1.5%
Core Laboratories N.V.	2,470	288,521
Forum Energy Technologies, Inc. *	13,655	222,986
Weatherford International PLC *	36,254	205,923
Food & staples retailing - 1.5%
Casey's General Stores, Inc.	5,256	701,886
Food products - 2.1%
J&J Snack Foods Corp.	2,729	331,874
TreeHouse Foods, Inc.*	6,019	621,100
Health care equipment & supplies - 7.1%
Globus Medical, Inc., Class A*	15,903	364,974
ICU Medical, Inc.*	4,249	496,113
Integra LifeSciences Holdings Corp.*	6,562	552,980
NuVasive, Inc.*	7,719	480,122
STERIS PLC	7,132	506,015
Teleflex, Inc.	2,638	475,658
West Pharmaceutical Services, Inc.	5,256	421,952
Health care providers & services - 3.4%
Acadia Healthcare Co., Inc.*	4,683	264,589
Centene Corp.*	5,729	404,181
MEDNAX, Inc.*	7,135	491,673
VCA, Inc.*	5,694	406,210
Health care technology - 1.0%
Omnicell, Inc.*	12,279	474,952
Hotels, restaurants & leisure - 3.5%
Bloomin' Brands, Inc.	26,202	471,112
Popeyes Louisiana Kitchen, Inc.*	9,774	559,855
Texas Roadhouse, Inc.	13,057	616,551
Household durables - 0.8%
Helen Of Troy Ltd.*	3,621	360,688
Household products - 1.0%
Spectrum Brands Holdings, Inc.	3,581	461,125
Insurance - 3.1%
AMERISAFE, Inc.	7,149	418,431
James River Group Holdings Ltd.	16,109	542,229
Reinsurance Group of America, Inc.	4,876	483,943

Internet software & services - 1.4%
j2 Global, Inc.	2,175	145,377
SPS Commerce, Inc.*	8,193	518,781
IT services - 1.5%
Gartner, Inc.*	3,834	384,358
NeuStar, Inc., Class A*	12,288	309,535
Life sciences tools & services - 1.9%
Bio-Rad Laboratories, Inc., Class A*	3,785	549,166
Bio-Techne Corp.	3,126	351,425
Machinery - 4.9%
CLARCOR, Inc.	6,715	418,076
Graco, Inc.	5,545	410,385
IDEX Corp.	2,883	258,865
Proto Labs, Inc.*	5,484	301,839
The Middleby Corp.*	3,931	473,214
The Toro Co.	4,373	402,097
Media - 1.7%
Gray Television, Inc.*	31,676	313,592
MDC Partners, Inc., Class A	38,689	493,672
Metals & mining - 1.3%
Reliance Steel & Aluminum Co.	4,355	341,606
Steel Dynamics, Inc.	9,241	247,844
Multiline retail - 0.8%
Ollie's Bargain Outlet Holdings, Inc.*	14,232	372,024
Oil, gas & consumable fuels - 2.2%
Carrizo Oil & Gas, Inc. *	8,041	263,745
Diamondback Energy, Inc. *	4,811	422,357
Gulfport Energy Corp. *	10,875	316,354
Pharmaceuticals - 1.5%
Catalent, Inc.*	18,125	462,912
Prestige Brands Holdings, Inc.*	4,316	230,906
Professional services - 1.2%
WageWorks, Inc.*	9,165	566,489
Real estate investment trusts (REITs) - 5.0%
American Assets Trust, Inc.	12,752	585,062
CoreSite Realty Corp.	4,378	361,316
Corporate Office Properties Trust	16,320	488,947
Hudson Pacific Properties, Inc.	16,806	568,211
Terreno Realty Corp.	11,392	317,267
Real estate management & development - 1.0%
HFF, Inc., Class A	16,345	461,092
Road & rail - 2.0%
Genesee & Wyoming, Inc., Class A*	8,416	544,936
Landstar System, Inc.	5,259	370,707

Semiconductors & semiconductor equipment - 3.2%
Cavium, Inc.*	10,534		491,622
Monolithic Power Systems, Inc.	6,169		448,610
Power Integrations, Inc.	9,123		520,649
Software - 8.5%
Ellie Mae, Inc.*	8,889		818,766
Manhattan Associates, Inc.*	7,084		411,226
Monotype Imaging Holdings, Inc.	26,092		516,361
NICE- Systems Ltd., Sponsored ADR	12,186		836,569
Qlik Technologies, Inc.*	14,947		451,399
Qualys, Inc.*	15,875		498,316
RealPage, Inc.*	1,174		29,526
The Ultimate Software Group, Inc.*	1,868		390,599
Specialty retail - 2.8%
Burlington Stores, Inc.*	9,925		759,362
Monro Muffler Brake, Inc.	8,476		530,767
Textiles, apparel & luxury goods - 0.8%
Steven Madden Ltd.*	10,883		381,123
Thrifts & mortgage finance - 0.8%
LendingTree, Inc.*	3,716		375,242
Trading companies & distributors - 0.7%
MSC Industrial Direct Co., Inc., Class A	4,297		308,653
Total common stocks (cost $35,334,537)			45,217,509
MONEY MARKET FUNDS - 3.2%
Fidelity Institutional Money Market Funds - Government Portfolio - Institutional Shares, 0.25%#	1,479,445		1,479,445
Total money market funds (cost $1,479,445)			1,479,445
Total investment portfolio (cost $36,813,982) - 100.6%‡			46,696,954
Liabilities in excess of other assets - (0.6)%			(259,328	)
Total net assets - 100.0%		$	46,437,626
* Non-income producing security
# Annualized seven-day yield as of July 31, 2016.
‡ As of July 31, 2016, aggregate cost for federal income tax purposes was $37,280,569. Net unrealized appreciation (depreciation) on a tax-basis was $9,416,385, including aggregate gross unrealized appreciation and depreciation of $10,850,353 and $(1,433,968), respectively. The difference between book-basis and tax-basis unrealized appreciation (depreciation) was primarily attributable to deferral of losses from wash sales. Because tax adjustments are calculated annually, these amounts reflect the tax adjustments outstanding as of the Fund's previous fiscal year-end.
ADR-American depository receipt

Sector allocation
Sector	Percent of net assets
Financials		21.3	%
Information technology		17.9	%
Health care		15.6	%
Industrials		14.6	%
Consumer discretionary		12.8	%
Materials		5.9	%
Consumer staples		4.6	%
Energy		3.7	%
Money market funds		3.2	%
Utilities		1.0	%

Investment Portfolios
(UNAUDITED)  |  07.31.16
EAGLE TACTICAL ALLOCATION FUND
EXCHANGE TRADED FUNDS - 95.4%	Shares		Value
Commodity - 4.9%
iShares Gold Trust*		19,497	$	253,851
Equity - 31.3%
SPDR S&P500 ETF Trust		3,501		760,242
SPDR S&P MidCap 400 ETF Trust		3,039		862,407
Fixed income - 59.2%
iShares Core U.S. Aggregate Bond ETF		21,403		2,419,181
iShares Core U.S. Treasury Bond ETF		9,581		252,268
iShares MBS ETF		3,657		402,709
Total exchange traded funds (cost $4,767,372)				4,950,658
MONEY MARKET FUNDS - 2.8%
Fidelity Institutional Money Market Funds - Government Portfolio - Institutional Shares, 0.25%#		144,670		144,670
Total money market funds (cost $144,670)				144,670
Total investment portfolio (cost $4,912,042) - 98.2%‡				5,095,328
Other assets in excess of liabilities - 1.8%				91,719
Total net assets - 100.0%			$	5,187,047
* Non-income producing security
# Annualized seven-day yield as of July 31, 2016.
‡ As of July 31, 2016, aggregate cost for federal income tax purposes was $4,912,042. Net unrealized appreciation (depreciation) on a tax-basis was $183,286, including aggregate gross unrealized appreciation and depreciation of $183,286 and $0, respectively. Because tax adjustments are calculated annually as of the Fund's fiscal year end, the first tax adjustments for the Fund will be calculated as October 31, 2016.
ETF - Exchange Traded Fund
Asset allocation
Asset class	Percent of net assets
Fixed income				59.2	%
Equity				31.3	%
Commodity				4.9	%
Money market funds				2.8	%

Item 2. Controls and Procedures

(a) Based on an evaluation of the disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940), the Principal Executive Officer and Principal Financial Officer of Eagle Series Trust have concluded that such disclosure controls and procedures are effective as of a date within 90 days of the filing date of this Form N-Q.

(b) There was no change in the internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) of Eagle Series Trust that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, its internal controls over financial reporting.

Item 3. Exhibits

(a) Certifications of thePrincipal Executive Officer and Principal Financial Officer of Eagle Series Trust as required by Rule 30a-2(a) under the Investment Company Act of 1940.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

EAGLE SERIES TRUST

Date:September 22, 2016

/s/ Susan L. Walzer

Susan L. Walzer

Principal Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

EAGLE SERIES TRUST

Date:September 22, 2016

/s/ Susan L. Walzer

Susan L. Walzer

Principal Executive Officer

Date:September 22, 2016

/s/ Carolyn Gill

Carolyn Gill

Principal Financial Officer