N-Q 1 a18-8222_1nq.htm QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

 

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

811-07762

 

First Eagle Funds

(Exact name of registrant as specified in charter)

 

1345 Avenue of the Americas

New York, New York

 

 10105

(Address of principal executive offices)

 

 (Zip code)

 

Suzan J. Afifi

First Eagle Funds

1345 Avenue of the Americas

New York, New York 10105

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

(212) 632-2700

 

 

Date of fiscal year end:

October 31

 

 

Date of reporting period:

January 31, 2018

 

 



 

Item 1. Schedule of Investments. — The schedule of investments for the three-month period ended January 31, 2018, is filed herewith.

 



 

First Eagle Global Fund
Consolidated Schedule of Investments
January 31, 2018 (unaudited)

 

Investments

 

Shares

 

Value ($)

 

 

 

 

 

 

 

COMMON STOCKS — 72.4%

 

 

 

 

 

 

 

 

 

 

 

Africa — 0.1%

 

 

 

 

 

Randgold Resources Ltd., ADR

 

413,501

 

41,829,761

 

 

 

 

 

 

 

Australia — 0.7%

 

 

 

 

 

Newcrest Mining Ltd.

 

22,277,117

 

407,410,446

 

 

 

 

 

 

 

Belgium — 0.6%

 

 

 

 

 

Groupe Bruxelles Lambert SA

 

2,788,865

 

328,539,551

 

 

 

 

 

 

 

Brazil — 0.5%

 

 

 

 

 

Cielo SA

 

36,388,540

 

307,006,891

 

 

 

 

 

 

 

Canada — 3.9%

 

 

 

 

 

Agnico Eagle Mines Ltd.

 

5,969,324

 

282,402,409

 

Barrick Gold Corp.

 

20,378,638

 

293,044,814

 

Canadian Natural Resources Ltd.

 

2,388,401

 

81,535,738

 

Cenovus Energy, Inc.

 

15,294,201

 

146,059,620

 

Franco-Nevada Corp.

 

2,615,497

 

199,989,832

 

Goldcorp, Inc.

 

14,579,998

 

208,785,571

 

Imperial Oil Ltd.

 

7,367,147

 

231,615,914

 

Nutrien Ltd.*

 

10,696,414

 

559,850,309

 

Suncor Energy, Inc.

 

3,011,620

 

109,103,892

 

Wheaton Precious Metals Corp.

 

9,143,708

 

197,412,656

 

 

 

 

 

2,309,800,755

 

Denmark — 0.2%

 

 

 

 

 

ISS A/S

 

2,987,524

 

116,563,343

 

 

 

 

 

 

 

France — 5.3%

 

 

 

 

 

Bouygues SA

 

5,688,713

 

316,169,858

 

Carrefour SA

 

6,693,115

 

159,613,378

 

Cie de Saint-Gobain

 

7,208,725

 

418,717,030

 

Danone SA

 

8,040,001

 

691,974,469

 

Emin Leydier SA‡(a)(b)(c)(d)

 

12,000,000

 

57,657,582

 

Legrand SA

 

1,401,821

 

116,628,442

 

LVMH Moet Hennessy Louis Vuitton SE

 

404,478

 

126,703,194

 

Neopost SA

 

152,262

 

4,533,968

 

NSC Groupe(b)

 

64,717

 

6,026,204

 

Rexel SA

 

11,789,132

 

212,375,969

 

Robertet SA

 

157,260

 

81,222,399

 

Robertet SA CI (non-voting)‡(a)

 

42,252

 

15,275,761

 

Sabeton SA(b)

 

385,000

 

11,471,922

 

Sanofi

 

4,886,047

 

431,201,604

 

Sodexo SA

 

2,173,169

 

278,561,239

 

TOTAL SA

 

1,495,313

 

86,698,148

 

Wendel SA

 

851,019

 

158,678,567

 

 

 

 

 

3,173,509,734

 

Germany — 1.6%

 

 

 

 

 

HeidelbergCement AG

 

5,883,039

 

638,639,614

 

Hornbach Baumarkt AG

 

29,871

 

1,145,968

 

Hornbach Holding AG & Co. KGaA(b)

 

1,181,422

 

107,516,035

 

Linde AG*

 

938,751

 

229,138,539

 

 

 

 

 

976,440,156

 

Hong Kong — 1.9%

 

 

 

 

 

CK Asset Holdings Ltd.

 

4,704,600

 

44,767,107

 

Guoco Group Ltd.

 

12,693,580

 

180,823,542

 

Hang Lung Properties Ltd.

 

125,232,969

 

330,087,733

 

Hysan Development Co. Ltd.

 

23,163,348

 

129,398,389

 

Jardine Matheson Holdings Ltd.

 

6,516,471

 

413,637,532

 

Jardine Strategic Holdings Ltd.

 

520,800

 

20,727,840

 

 

 

 

 

1,119,442,143

 

Ireland — 0.3%

 

 

 

 

 

CRH plc

 

4,704,407

 

174,746,020

 

 

 

 

 

 

 

Israel — 0.1%

 

 

 

 

 

Israel Chemicals Ltd.

 

12,448,757

 

52,398,981

 

 

 

 

 

 

 

Italy — 0.1%

 

 

 

 

 

Italmobiliare SpA

 

1,889,410

 

57,706,606

 

 

 

 

 

 

 

Japan — 12.0%

 

 

 

 

 

Astellas Pharma, Inc.

 

15,895,900

 

209,050,296

 

Chofu Seisakusho Co. Ltd.(b)

 

3,379,770

 

78,969,602

 

FANUC Corp.

 

4,251,100

 

1,153,826,958

 

Hirose Electric Co. Ltd.(b)

 

2,442,300

 

367,733,834

 

Hoya Corp.

 

8,345,640

 

428,657,267

 

KDDI Corp.

 

31,838,200

 

807,999,468

 

Keyence Corp.

 

1,008,100

 

616,057,412

 

Mitsubishi Estate Co. Ltd.

 

30,826,080

 

592,932,185

 

MS&AD Insurance Group Holdings, Inc.

 

9,086,420

 

310,383,225

 

Nissin Foods Holdings Co. Ltd.

 

2,006,030

 

148,839,841

 

NTT DOCOMO, Inc.

 

14,218,200

 

353,285,565

 

Secom Co. Ltd.

 

9,186,430

 

704,088,101

 

Shimano, Inc.

 

1,892,590

 

271,280,809

 

SMC Corp.

 

698,556

 

344,272,042

 

Sompo Holdings, Inc.

 

17,037,000

 

684,105,102

 

T Hasegawa Co. Ltd.(b)

 

3,061,300

 

63,622,152

 

 

 

 

 

7,135,103,859

 

Mexico — 0.8%

 

 

 

 

 

Fresnillo plc

 

18,230,274

 

349,029,672

 

Industrias Penoles SAB de CV

 

6,401,020

 

148,351,443

 

 

 

 

 

497,381,115

 

Norway — 0.0%(e)

 

 

 

 

 

Orkla ASA

 

2,000,066

 

20,813,084

 

 

 

 

 

 

 

Russia — 0.1%

 

 

 

 

 

Gazprom PJSC, ADR

 

15,687,012

 

78,980,372

 

 

 

 

 

 

 

South Korea — 1.5%

 

 

 

 

 

Hyundai Mobis Co. Ltd.

 

529,740

 

122,780,026

 

Kia Motors Corp.

 

8,374,796

 

271,544,460

 

KT&G Corp.

 

3,768,416

 

375,835,842

 

Lotte Confectionery Co. Ltd.*

 

153,688

 

25,186,496

 

Lotte Corp.*

 

913,277

 

59,679,784

 

 

See Notes to Consolidated Schedule of Investments.

 

(Continued)

 

1



 

Investments

 

Shares

 

Value ($)

 

Namyang Dairy Products Co. Ltd.*(b)

 

39,989

 

26,176,252

 

 

 

 

 

881,202,860

 

Sweden — 0.8%

 

 

 

 

 

Investor AB, Class A

 

5,939,940

 

284,948,032

 

Investor AB, Class B

 

3,394,798

 

166,010,194

 

 

 

 

 

450,958,226

 

Switzerland — 1.6%

 

 

 

 

 

Cie Financiere Richemont SA (Registered)

 

550,340

 

52,786,456

 

Nestle SA (Registered)

 

5,963,365

 

515,127,200

 

Pargesa Holding SA

 

4,327,670

 

394,520,292

 

 

 

 

 

962,433,948

 

Thailand — 0.6%

 

 

 

 

 

Bangkok Bank PCL, NVDR

 

51,812,900

 

342,062,327

 

Bangkok Bank PCL

 

36,500

 

258,717

 

 

 

 

 

342,321,044

 

United Kingdom — 3.8%

 

 

 

 

 

Berkeley Group Holdings plc

 

6,719,082

 

378,324,299

 

British American Tobacco plc

 

4,778,582

 

326,600,289

 

Diageo plc

 

8,034,220

 

289,170,677

 

GlaxoSmithKline plc

 

13,462,721

 

250,596,275

 

Liberty Global plc, Class C*

 

6,626,353

 

236,958,383

 

Lloyds Banking Group plc

 

267,984,000

 

264,768,126

 

TechnipFMC plc

 

15,536,847

 

504,326,054

 

 

 

 

 

2,250,744,103

 

United States — 35.9%

 

 

 

 

 

3M Co.

 

2,815,173

 

705,200,837

 

Alleghany Corp.*

 

418,350

 

262,598,295

 

Alphabet, Inc., Class A*

 

134,718

 

159,266,314

 

Alphabet, Inc., Class C*

 

163,012

 

190,714,259

 

American Express Co.

 

8,849,838

 

879,673,897

 

Analog Devices, Inc.

 

2,275,357

 

209,059,801

 

Anthem, Inc.

 

1,884,793

 

467,145,945

 

Automatic Data Processing, Inc.

 

1,027,905

 

127,079,895

 

Bank of New York Mellon Corp. (The)

 

13,360,022

 

757,513,247

 

BB&T Corp.

 

10,500,485

 

579,521,767

 

Berkshire Hathaway, Inc., Class A*

 

1,088

 

351,832,054

 

Brown & Brown, Inc.

 

4,889,353

 

256,593,245

 

CH Robinson Worldwide, Inc.

 

4,158,442

 

380,331,105

 

Cincinnati Financial Corp.

 

1,900,903

 

146,179,441

 

Cintas Corp.

 

1,821,671

 

306,860,480

 

Colgate-Palmolive Co.

 

3,258,980

 

241,946,675

 

Comcast Corp., Class A

 

22,106,304

 

940,181,109

 

ConocoPhillips

 

7,399,959

 

435,191,589

 

Cummins, Inc.

 

1,378,153

 

259,092,764

 

Deere & Co.

 

3,176,107

 

528,567,727

 

Devon Energy Corp.

 

3,449,156

 

142,691,584

 

Exxon Mobil Corp.

 

8,310,372

 

725,495,476

 

Flowserve Corp.(b)

 

8,414,508

 

381,345,503

 

H&R Block, Inc.

 

3,992,318

 

105,956,120

 

JG Boswell Co.

 

2,485

 

1,749,440

 

Mastercard, Inc., Class A

 

1,133,715

 

191,597,835

 

Microsoft Corp.

 

15,024,912

 

1,427,516,889

 

Mills Music Trust(b)

 

31,592

 

758,208

 

National Oilwell Varco, Inc.

 

17,895,308

 

656,399,897

 

Newmont Mining Corp.

 

1,798,802

 

72,869,469

 

NOW, Inc.*(b)

 

5,851,664

 

68,991,119

 

Omnicom Group, Inc.

 

10,111,773

 

775,067,401

 

Oracle Corp.

 

27,002,083

 

1,393,037,462

 

Orbital ATK, Inc.(b)

 

3,694,106

 

487,252,581

 

Praxair, Inc.

 

1,061,412

 

171,407,424

 

Royal Gold, Inc.

 

1,260,596

 

112,193,044

 

San Juan Basin Royalty Trust(b)

 

3,908,035

 

38,259,663

 

Schlumberger Ltd.

 

12,656,668

 

931,277,631

 

Scotts Miracle-Gro Co. (The)

 

1,614,331

 

145,725,659

 

Synchrony Financial

 

11,102,151

 

440,533,352

 

Teradata Corp.*(b)

 

12,190,179

 

493,702,249

 

Texas Instruments, Inc.

 

2,158,760

 

236,751,209

 

Tiffany & Co.

 

2,478,615

 

264,344,290

 

Travelers Cos., Inc. (The)

 

332,055

 

49,781,686

 

UGI Corp.

 

4,874,044

 

223,084,994

 

Union Pacific Corp.

 

4,056,411

 

541,530,868

 

US Bancorp

 

7,819,459

 

446,803,887

 

Varex Imaging Corp.*

 

1,256,253

 

53,353,065

 

Varian Medical Systems, Inc.*

 

3,140,634

 

400,430,835

 

Visa, Inc., Class A

 

1,265,285

 

157,186,356

 

Vista Outdoor, Inc.*(b)

 

3,252,457

 

49,274,724

 

Weyerhaeuser Co., REIT

 

23,709,923

 

890,070,509

 

Willis Towers Watson plc

 

2,058,297

 

330,294,920

 

WR Berkley Corp.

 

4,386,051

 

320,094,002

 

Xilinx, Inc.

 

6,088,374

 

444,573,069

 

 

 

 

 

21,355,952,866

 

TOTAL COMMON STOCKS

(Cost $26,691,238,622)

 

 

 

43,041,285,864

 

 

 

 

 

 

 

 

 

Ounces

 

 

 

 

 

 

 

 

 

COMMODITIES — 7.1%

 

 

 

 

 

 

 

 

 

 

 

Gold bullion*

(Cost $3,289,770,460)

 

3,110,306

 

4,185,818,924

 

 

 

 

 

 

 

 

 

Principal 
Amount ($)

 

 

 

 

 

 

 

 

 

FOREIGN GOVERNMENT SECURITIES — 1.0%

 

 

 

 

 

 

 

 

 

 

 

Indonesia — 0.0%(e)

 

 

 

 

 

Indonesia Treasury Bond

 

 

 

 

 

8.25%, 7/15/2021

IDR

 

345,617,000,000

 

27,993,596

 

 

 

 

 

 

 

 

Malaysia — 0.0%(e)

 

 

 

 

 

 

Malaysia Government Bond

 

 

 

 

 

 

3.66%, 10/15/2020

MYR

 

54,021,000

 

13,944,466

 

 

 

 

 

 

 

 

Mexico — 0.4%

 

 

 

 

 

 

Mexican Bonos

 

 

 

 

 

 

4.75%, 6/14/2018

MXN

 

2,559,090,000

 

135,951,764

 

5.00%, 12/11/2019

MXN

 

764,192,000

 

39,260,419

 

 

See Notes to Consolidated Schedule of Investments.

 

(Continued)

 

2



 

Investments

 

Principal 
Amount ($)

 

Value ($)

 

6.50%, 6/10/2021

MXN

 

1,813,760,000

 

94,513,251

 

 

 

 

 

 

269,725,434

 

Poland — 0.2%

 

 

 

 

 

 

Poland Government Bond

 

 

 

 

 

 

3.25%, 7/25/2019

PLN

 

306,347,000

 

93,805,147

 

 

 

 

 

 

 

 

Singapore — 0.4%

 

 

 

 

 

 

Singapore Government Bond

 

 

 

 

 

 

0.50%, 4/1/2018

SGD

 

154,398,000

 

117,581,645

 

3.25%, 9/1/2020

SGD

 

119,604,000

 

94,822,503

 

 

 

 

 

212,404,148

 

Venezuela, Bolivarian Republic of — 0.0%

 

 

 

 

 

Venezuela Government Bond

 

 

 

 

 

Zero Coupon, 4/15/2020‡(a)(f)

 

53,230

 

 

 

 

 

 

 

 

TOTAL FOREIGN GOVERNMENT SECURITIES

(Cost $639,369,026)

 

 

 

617,872,791

 

 

 

 

 

 

 

U.S. TREASURY OBLIGATIONS — 0.2%

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury Notes

 

 

 

 

 

1.13%, 1/15/2019(g) 
(Cost $113,268,956)

 

114,023,000

 

113,158,920

 

 

 

 

 

 

 

CORPORATE BONDS — 0.1%

 

 

 

 

 

 

 

 

 

 

 

France — 0.1%

 

 

 

 

 

Emin Leydier SA

 

 

 

 

 

(EURIBOR 6 Month + 8.00%), 7.73%, 11/30/2020‡(a)(d)(f)

 

15,000,000

 

18,623,250

 

 

 

 

 

 

 

United States — 0.0%(e)

 

 

 

 

 

Bausch & Lomb, Inc.

 

 

 

 

 

7.13%, 8/1/2028

 

5,467,000

 

5,337,159

 

 

 

 

 

 

 

TOTAL CORPORATE BONDS
(COST $21,933,583)

 

 

 

23,960,409

 

 

 

 

 

 

 

SHORT-TERM INVESTMENTS — 19.4%

 

 

 

 

 

 

 

 

 

 

 

COMMERCIAL PAPER — 19.4%

 

 

 

 

 

Alphabet, Inc.

 

 

 

 

 

1.40%, 2/1/2018(h)

 

33,092,000

 

33,090,750

 

American Express Credit Corp.

 

 

 

 

 

1.51%, 3/2/2018(h)

 

25,516,000

 

25,477,938

 

1.56%, 3/7/2018(h)

 

46,113,000

 

46,032,213

 

American Honda Finance Corp.

 

 

 

 

 

1.29%, 2/12/2018(h)

 

30,016,000

 

30,001,642

 

1.31%, 2/15/2018(h)

 

54,817,000

 

54,783,881

 

1.57%, 3/26/2018(h)

 

54,656,000

 

54,528,105

 

1.59%, 4/4/2018(h)

 

50,396,000

 

50,256,920

 

1.69%, 5/4/2018(h)

 

40,458,000

 

40,285,548

 

Apple, Inc.

 

 

 

 

 

1.25%, 2/2/2018(h)(i)

 

75,000,000

 

74,994,313

 

1.25%, 2/13/2018(h)(i)

 

55,591,000

 

55,562,494

 

1.27%, 2/16/2018(h)(i)

 

72,551,000

 

72,504,728

 

1.34%, 2/27/2018(h)(i)

 

22,551,000

 

22,525,867

 

1.31%, 3/9/2018(h)(i)

 

89,217,000

 

89,078,357

 

1.31%, 3/13/2018(h)(i)

 

50,000,000

 

49,913,558

 

1.34%, 3/23/2018(h)(i)

 

86,454,000

 

86,265,999

 

1.34%, 4/3/2018(h)(i)

 

25,000,000

 

24,933,048

 

1.63%, 4/16/2018(h)(i)

 

75,432,000

 

75,182,918

 

1.62%, 5/7/2018(h)(i)

 

100,000,000

 

99,562,667

 

Chevron Corp.

 

 

 

 

 

1.25%, 2/16/2018(h)

 

66,434,000

 

66,391,157

 

1.57%, 4/9/2018(h)

 

61,844,000

 

61,669,359

 

1.50%, 4/13/2018(h)

 

69,662,000

 

69,453,293

 

Cisco Systems, Inc.

 

 

 

 

 

1.27%, 2/9/2018(h)

 

77,703,000

 

77,675,804

 

1.30%, 3/1/2018(h)

 

151,247,000

 

151,064,852

 

1.35%, 3/8/2018(h)

 

60,050,000

 

59,959,324

 

Coca-Cola Co. (The)

 

 

 

 

 

1.27%, 2/1/2018(h)

 

50,000,000

 

49,998,083

 

1.27%, 2/2/2018(h)

 

50,000,000

 

49,996,153

 

1.26%, 2/9/2018(h)

 

52,001,000

 

51,982,540

 

1.32%, 2/13/2018(h)

 

24,800,000

 

24,787,104

 

1.28%, 2/21/2018(h)

 

130,931,000

 

130,818,115

 

1.28%, 2/22/2018(h)

 

26,011,000

 

25,987,427

 

1.34%, 3/2/2018(h)

 

85,320,000

 

85,211,928

 

1.43%, 3/15/2018(h)

 

92,239,000

 

92,069,111

 

1.37%, 3/21/2018(h)

 

66,300,000

 

66,159,945

 

1.37%, 3/22/2018(h)

 

75,000,000

 

74,838,230

 

1.46%, 4/25/2018(h)

 

48,600,000

 

48,415,612

 

1.62%, 5/1/2018(h)

 

61,238,000

 

60,986,924

 

1.63%, 5/3/2018(h)

 

96,240,000

 

95,834,926

 

EI du Pont de Nemours & Co.

 

 

 

 

 

1.67%, 2/26/2018(h)

 

26,571,000

 

26,536,247

 

1.69%, 3/5/2018(h)

 

13,241,000

 

13,218,679

 

1.87%, 4/2/2018(h)

 

21,050,000

 

20,982,159

 

Engie SA

 

 

 

 

 

1.32%, 2/2/2018(h)

 

37,307,000

 

37,304,036

 

1.60%, 4/6/2018(h)

 

34,839,000

 

34,736,467

 

1.56%, 4/10/2018(h)

 

47,844,000

 

47,693,336

 

1.63%, 4/18/2018(h)

 

82,093,000

 

81,799,769

 

1.65%, 5/2/2018(h)

 

33,092,000

 

32,948,792

 

Eni Finance USA, Inc.

 

 

 

 

 

1.65%, 2/1/2018(h)

 

20,009,000

 

20,009,000

 

Entergy Corp.

 

 

 

 

 

1.65%, 2/1/2018(h)

 

15,965,000

 

15,964,176

 

Erste Abwicklungsanstalt

 

 

 

 

 

1.40%, 2/6/2018(h)(i)

 

13,876,000

 

13,872,656

 

Essilor International SA

 

 

 

 

 

1.34%, 2/15/2018(h)

 

36,574,000

 

36,551,446

 

1.58%, 3/7/2018(h)

 

20,195,000

 

20,164,528

 

1.62%, 4/19/2018(h)

 

15,118,000

 

15,063,691

 

Export Development Corp.

 

 

 

 

 

1.28%, 2/1/2018(h)

 

59,520,000

 

59,517,751

 

1.27%, 3/5/2018(h)

 

39,868,000

 

39,812,999

 

 

See Notes to Consolidated Schedule of Investments.

 

(Continued)

 

3



 

Investments

 

Principal 
Amount ($)

 

Value ($)

 

1.27%, 3/6/2018(h)

 

38,586,000

 

38,531,081

 

1.27%, 3/19/2018(h)

 

111,439,000

 

111,216,692

 

1.28%, 3/21/2018(h)

 

52,236,000

 

52,127,076

 

1.36%, 4/2/2018(h)

 

106,876,000

 

106,594,940

 

1.66%, 4/10/2018(h)

 

79,356,000

 

79,117,053

 

1.66%, 5/18/2018(h)

 

52,101,000

 

51,841,307

 

Exxon Mobil Corp.

 

 

 

 

 

1.42%, 2/16/2018(h)

 

50,000,000

 

49,967,755

 

Ford Motor Credit Co. LLC

 

 

 

 

 

1.66%, 3/13/2018(h)

 

50,000,000

 

49,902,454

 

1.66%, 3/14/2018(h)

 

50,000,000

 

49,899,900

 

1.68%, 3/19/2018(h)

 

36,437,000

 

36,354,656

 

1.77%, 4/3/2018(h)

 

55,503,000

 

55,333,139

 

1.77%, 4/5/2018(h)

 

38,552,000

 

38,429,662

 

1.74%, 4/13/2018(h)

 

80,221,000

 

79,929,958

 

1.78%, 4/16/2018(h)

 

43,539,000

 

43,373,461

 

1.78%, 4/19/2018(h)

 

87,078,000

 

86,731,604

 

1.78%, 4/20/2018(h)

 

87,078,000

 

86,726,398

 

Government of Quebec

 

 

 

 

 

1.23%, 2/13/2018(h)

 

24,232,000

 

24,219,574

 

1.21%, 2/27/2018(h)

 

35,204,000

 

35,164,765

 

1.21%, 2/28/2018(h)

 

35,204,000

 

35,163,175

 

Henkel Corp.

 

 

 

 

 

1.57%, 2/20/2018(h)

 

55,866,000

 

55,819,445

 

1.51%, 3/12/2018(h)

 

75,040,000

 

74,909,680

 

1.65%, 4/4/2018(h)

 

49,256,000

 

49,116,532

 

1.65%, 4/5/2018(h)

 

19,276,000

 

19,220,451

 

Hitachi America Capital Ltd.

 

 

 

 

 

1.65%, 2/1/2018(h)

 

35,647,000

 

35,645,354

 

IBM Credit LLC

 

 

 

 

 

1.58%, 2/26/2018(h)

 

15,224,000

 

15,207,496

 

1.63%, 3/14/2018(h)

 

33,118,000

 

33,058,498

 

John Deere Capital Corp.

 

 

 

 

 

1.65%, 4/3/2018(h)

 

82,825,000

 

82,600,337

 

Kreditanstalt fuer Wiederaufbau

 

 

 

 

 

1.44%, 3/13/2018(h)

 

105,043,000

 

104,852,066

 

1.64%, 4/12/2018(h)

 

78,930,000

 

78,664,120

 

1.63%, 4/23/2018(h)

 

95,956,000

 

95,578,317

 

1.70%, 5/8/2018(h)

 

70,045,000

 

69,715,851

 

Kroger Co. (The)

 

 

 

 

 

1.60%, 2/1/2018(h)

 

17,229,000

 

17,229,000

 

LVMH Moet Hennessy Louis Vuitton, Inc.

 

 

 

 

 

1.37%, 2/12/2018(h)

 

36,002,000

 

35,984,179

 

1.34%, 2/15/2018(h)

 

30,016,000

 

29,997,240

 

1.67%, 4/11/2018(h)

 

52,663,000

 

52,494,756

 

MetLife Short Term Funding LLC

 

 

 

 

 

1.29%, 2/9/2018(h)

 

34,779,000

 

34,766,366

 

1.50%, 3/9/2018(h)

 

64,841,000

 

64,737,038

 

1.48%, 3/12/2018(h)

 

74,600,000

 

74,469,616

 

1.54%, 3/14/2018(h)

 

51,724,000

 

51,628,535

 

1.57%, 4/6/2018(h)

 

30,922,000

 

30,830,883

 

1.62%, 4/17/2018(h)

 

111,006,000

 

110,612,533

 

1.64%, 5/1/2018(h)

 

82,938,000

 

82,577,220

 

Microsoft Corp.

 

 

 

 

 

1.48%, 2/2/2018(h)

 

38,552,000

 

38,549,077

 

1.32%, 2/6/2018(h)

 

54,392,000

 

54,379,445

 

1.22%, 2/7/2018(h)

 

100,000,000

 

99,972,972

 

1.29%, 2/8/2018(h)

 

83,022,000

 

82,996,263

 

1.31%, 2/13/2018(h)

 

75,000,000

 

74,961,542

 

1.34%, 2/14/2018(h)

 

77,703,000

 

77,659,939

 

1.44%, 2/20/2018(h)

 

50,137,000

 

50,096,528

 

Mitsubishi International Corp.

 

 

 

 

 

1.54%, 3/7/2018(h)

 

45,151,000

 

45,081,292

 

1.55%, 3/8/2018(h)

 

30,922,000

 

30,872,772

 

1.58%, 3/16/2018(h)

 

75,921,000

 

75,770,584

 

1.58%, 3/21/2018(h)

 

28,953,000

 

28,888,370

 

Mitsui & Co. USA, Inc.

 

 

 

 

 

1.63%, 2/20/2018(h)

 

33,092,000

 

33,059,827

 

Nestle Capital Corp.

 

 

 

 

 

1.27%, 2/7/2018(h)

 

83,022,000

 

83,000,368

 

1.25%, 2/12/2018(h)

 

29,315,000

 

29,301,662

 

1.43%, 3/5/2018(h)

 

50,000,000

 

49,934,687

 

1.31%, 3/12/2018(h)

 

89,217,000

 

89,074,550

 

1.36%, 3/14/2018(h)

 

50,000,000

 

49,916,000

 

1.50%, 4/5/2018(h)

 

66,183,000

 

66,008,629

 

NRW Bank

 

 

 

 

 

1.40%, 2/14/2018(h)

 

69,557,000

 

69,515,966

 

1.51%, 4/5/2018(h)

 

68,504,000

 

68,302,568

 

1.57%, 4/9/2018(h)

 

54,671,000

 

54,498,750

 

1.58%, 4/12/2018(h)

 

63,079,000

 

62,870,247

 

1.66%, 4/13/2018(h)

 

138,229,000

 

137,763,998

 

1.66%, 4/18/2018(h)

 

82,825,000

 

82,524,016

 

1.66%, 4/19/2018(h)

 

84,568,000

 

84,255,958

 

1.66%, 4/20/2018(h)

 

82,816,000

 

82,505,778

 

Ontario Teachers’ Finance Trust

 

 

 

 

 

1.87%, 7/25/2018(h)(i)

 

72,918,000

 

72,245,230

 

1.85%, 7/27/2018(h)(i)

 

69,662,000

 

69,010,213

 

Pfizer, Inc.

 

 

 

 

 

1.30%, 2/12/2018(h)

 

100,000,000

 

99,952,833

 

1.27%, 2/16/2018(h)

 

49,825,000

 

49,793,223

 

1.29%, 2/21/2018(h)

 

60,032,000

 

59,980,943

 

1.33%, 3/1/2018(h)

 

24,000,000

 

23,971,096

 

1.34%, 3/2/2018(h)

 

100,000,000

 

99,875,000

 

1.31%, 3/5/2018(h)

 

127,152,000

 

126,976,584

 

1.33%, 3/9/2018(h)

 

80,063,000

 

79,938,582

 

1.49%, 3/12/2018(h)

 

75,000,000

 

74,873,583

 

1.55%, 3/15/2018(h)

 

83,533,000

 

83,381,142

 

Philip Morris International, Inc.

 

 

 

 

 

1.63%, 3/20/2018(h)

 

75,432,000

 

75,272,889

 

Praxair, Inc.

 

 

 

 

 

1.48%, 3/7/2018(h)

 

52,946,000

 

52,866,110

 

Procter & Gamble Co. (The)

 

 

 

 

 

1.22%, 2/5/2018(h)

 

79,789,000

 

79,773,707

 

1.22%, 2/6/2018(h)

 

50,000,000

 

49,988,459

 

1.23%, 2/7/2018(h)

 

125,000,000

 

124,966,215

 

1.22%, 2/8/2018(h)

 

79,789,000

 

79,764,265

 

1.30%, 2/14/2018(h)

 

42,167,000

 

42,143,632

 

1.57%, 4/16/2018(h)

 

82,825,000

 

82,551,505

 

Province of Quebec Canada

 

 

 

 

 

1.39%, 2/20/2018(h)

 

124,238,000

 

124,137,713

 

1.48%, 3/8/2018(h)

 

23,038,000

 

23,003,213

 

1.50%, 3/20/2018(h)

 

35,274,000

 

35,202,041

 

 

See Notes to Consolidated Schedule of Investments.

 

(Continued)

 

4



 

Investments

 

Principal 
Amount ($)

 

Value ($)

 

1.44%, 3/21/2018(h)

 

28,133,000

 

28,074,336

 

PSP Capital, Inc.

 

 

 

 

 

1.23%, 2/1/2018(h)(i)

 

29,495,000

 

29,493,846

 

1.23%, 2/2/2018(h)(i)

 

44,152,000

 

44,148,539

 

1.30%, 2/6/2018(h)(i)

 

62,267,000

 

62,252,201

 

1.31%, 2/9/2018(h)(i)

 

68,822,000

 

68,797,259

 

1.49%, 3/8/2018(h)(i)

 

38,962,000

 

38,902,232

 

1.40%, 3/19/2018(h)(i)

 

38,702,000

 

38,623,177

 

1.61%, 3/22/2018(h)(i)

 

36,798,000

 

36,717,913

 

1.67%, 4/16/2018(h)(i)

 

82,825,000

 

82,543,740

 

1.64%, 5/2/2018(h)(i)

 

25,949,000

 

25,839,263

 

QUALCOMM, Inc.

 

 

 

 

 

1.24%, 2/1/2018(h)

 

52,806,000

 

52,803,905

 

1.27%, 2/5/2018(h)

 

49,808,000

 

49,798,018

 

1.29%, 2/13/2018(h)

 

30,830,000

 

30,813,601

 

1.29%, 2/14/2018(h)

 

30,830,000

 

30,812,304

 

1.31%, 2/21/2018(h)

 

51,359,000

 

51,313,941

 

1.55%, 3/1/2018(h)

 

25,000,000

 

24,969,067

 

1.34%, 3/7/2018(h)

 

23,236,000

 

23,200,939

 

Rockwell Autom, Inc.

 

 

 

 

 

1.46%, 3/7/2018(h)

 

44,608,000

 

44,529,850

 

1.46%, 3/8/2018(h)

 

44,608,000

 

44,527,527

 

Sanofi

 

 

 

 

 

1.57%, 3/14/2018(h)

 

47,978,000

 

47,892,919

 

1.57%, 3/16/2018(h)

 

47,978,000

 

47,888,692

 

1.63%, 3/23/2018(h)

 

38,552,000

 

38,468,166

 

1.63%, 3/28/2018(h)

 

41,047,000

 

40,948,478

 

Schlumberger Holdings Corp.

 

 

 

 

 

1.49%, 2/6/2018(h)

 

44,473,000

 

44,460,429

 

1.55%, 2/13/2018(h)

 

36,539,000

 

36,516,266

 

1.61%, 3/1/2018(h)

 

53,530,000

 

53,452,985

 

1.80%, 4/11/2018(h)

 

50,348,000

 

50,163,265

 

Time Warner, Inc.

 

 

 

 

 

1.60%, 2/12/2018(h)

 

18,923,000

 

18,912,081

 

Total Capital Canada Ltd.

 

 

 

 

 

1.30%, 2/5/2018(h)

 

122,132,000

 

122,107,828

 

1.45%, 3/6/2018(h)

 

243,581,000

 

243,218,213

 

1.67%, 3/16/2018(h)

 

8,781,000

 

8,763,903

 

1.66%, 4/9/2018(h)

 

10,266,000

 

10,234,217

 

1.66%, 4/10/2018(h)

 

15,161,000

 

15,113,315

 

1.72%, 4/17/2018(h)

 

103,520,000

 

103,157,876

 

1.72%, 4/20/2018(h)

 

38,386,000

 

38,245,831

 

Unilever Capital Corp.

 

 

 

 

 

1.46%, 2/12/2018(h)

 

39,892,000

 

39,872,918

 

1.50%, 2/23/2018(h)

 

39,214,000

 

39,176,745

 

1.52%, 3/15/2018(h)

 

76,080,000

 

75,939,874

 

1.52%, 3/16/2018(h)

 

76,080,000

 

75,936,521

 

1.55%, 3/20/2018(h)

 

72,875,000

 

72,724,391

 

1.63%, 4/3/2018(h)

 

75,432,000

 

75,227,391

 

1.63%, 4/4/2018(h)

 

75,432,000

 

75,223,827

 

1.62%, 4/11/2018(h)

 

30,020,000

 

29,927,013

 

1.64%, 4/12/2018(h)

 

27,830,000

 

27,742,400

 

1.65%, 4/17/2018(h)

 

53,598,000

 

53,416,166

 

1.65%, 4/18/2018(h)

 

77,319,000

 

77,052,744

 

UnitedHealth Group, Inc.

 

 

 

 

 

1.71%, 3/19/2018(h)

 

30,235,000

 

30,162,763

 

VW Credit, Inc.

 

 

 

 

 

2.02%, 5/1/2018(h)

 

67,062,000

 

66,728,367

 

Walt Disney Co. (The)

 

 

 

 

 

1.21%, 2/8/2018(h)

 

82,431,000

 

82,405,081

 

1.64%, 3/27/2018(h)

 

50,467,000

 

50,346,566

 

1.64%, 4/6/2018(h)

 

123,140,000

 

122,788,264

 

1.64%, 4/10/2018(h)

 

77,105,000

 

76,869,875

 

1.64%, 4/26/2018(h)

 

41,408,000

 

41,248,832

 

1.64%, 4/27/2018(h)

 

41,408,000

 

41,246,663

 

1.64%, 4/30/2018(h)

 

30,235,000

 

30,112,563

 

1.66%, 5/15/2018(h)

 

43,539,000

 

43,326,810

 

TOTAL COMMERCIAL PAPER
(Cost $11,522,778,848)

 

 

 

11,521,408,590

 

 

 

 

 

 

 

 

 

Shares

 

 

 

 

 

 

 

 

 

INVESTMENT COMPANY — 0.0%(e)

 

 

 

 

 

JP Morgan U.S. Government Money Market Fund, Agency Shares 1.13% (j)(Cost $39,349)

 

39,349

 

39,349

 

TOTAL SHORT-TERM INVESTMENTS

(Cost $11,522,818,197)

 

 

 

11,521,447,939

 

 

 

 

 

 

 

Total Investments — 100.2%
(Cost $42,278,398,844)

 

 

 

59,503,544,847

 

Liabilities Less Other Assets — (0.2)%

 

 

 

(79,181,221

)

Net Assets — 100.0%

 

 

 

59,424,363,626

 

 


*

Non-income producing security.

Value determined using significant unobservable inputs.

(a)

Security fair valued as of January 31, 2018 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2018 amounted to $91,556,593, which represents approximately 0.15% of net assets of the Fund.

(b)

Affiliated company as defined under the Investment Company Act of 1940.

(c)

Held through Financiere Rouge, LLC, wholly owned subsidiary and disregarded entity for U.S. tax purposes.

(d)

Represents a security that is subject to legal or contractual restrictions on resale.

(e)

Represents less than 0.05% of net assets.

(f)

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of January 31, 2018.

(g)

All or a portion of this security is pledged with the custodian for current or potential holdings of forward foreign currency exchange contracts.

(h)

The rate shown was the current yield as of January 31, 2018.

 

See Notes to Consolidated Schedule of Investments.

 

(Continued)

 

5



 

(i)

Securities exempt from registration under Rule 144A or section 4(2), of the Securities Act of 1933. Under procedures approved by the Board of Trustees, such securities have been determined to be liquid by the investment adviser and may be resold, normally to qualified institutional buyers in transactions exempt from registration. Total market value of all such securities at January 31, 2018 amounts to $1,232,970,218, which represents approximately 2.07% of net assets of the Fund.

(j)

Represents 7-day effective yield as of January 31, 2018.

 

Restricted Securities

 

Acquisition 
Date

 

Cost

 

Carrying Value
Per
Share/Principal

 

Emin Leydier SA 7.73% due 11/30/2020

 

07/03/09

 

$

17,023,220

 

$

1.24

 

Emin Leydier SA

 

07/03/09

 

1,149,902

 

4.80

 

 

As of January 31, 2018, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investment securities and derivative instruments, if applicable, for federal income tax purposes was as follows:

 

Aggregate gross unrealized appreciation

 

$

18,426,164,076

 

Aggregate gross unrealized depreciation

 

(1,281,385,706

)

Net unrealized appreciation

 

$

17,144,778,370

 

Federal income tax cost

 

$

42,278,398,844

 

 

See Notes to Consolidated Schedule of Investments.

 

(Continued)

 

6



 

Forward Foreign Currency Exchange Contracts outstanding as of January 31, 2018:

 

Currency Purchased

 

Currency Sold

 

Counterparty

 

Settlement 
Date

 

Unrealized 
Appreciation 
(Depreciation)

 

USD

346,384,710

 

JPY

37,401,755,000

 

JPMorgan Chase Bank

 

2/14/2018

 

$

3,570,808

 

Total unrealized appreciation

 

 

 

 

 

 

3,570,808

 

USD

240,030,193

 

EUR

203,724,000

 

JPMorgan Chase Bank

 

2/14/2018

 

(13,088,016

)

USD

44,662,811

 

GBP

33,934,000

 

JPMorgan Chase Bank

 

2/14/2018

 

(3,539,107

)

USD

78,712,098

 

EUR

65,928,000

 

UBS AG

 

3/14/2018

 

(3,347,163

)

USD

63,872,296

 

GBP

47,558,000

 

UBS AG

 

3/14/2018

 

(3,752,720

)

USD

315,599,041

 

JPY

35,205,862,000

 

UBS AG

 

3/14/2018

 

(7,580,563

)

USD

170,991,824

 

EUR

145,494,000

 

HSBC Bank plc

 

4/18/2018

 

(10,551,221

)

USD

82,276,835

 

GBP

60,673,000

 

HSBC Bank plc

 

4/18/2018

 

(4,123,486

)

USD

220,836,037

 

JPY

24,869,119,000

 

HSBC Bank plc

 

4/18/2018

 

(7,970,079

)

USD

194,581,542

 

EUR

163,193,000

 

Bank of New York Mellon

 

5/16/2018

 

(9,439,133

)

USD

33,820,757

 

GBP

24,132,000

 

Bank of New York Mellon

 

5/16/2018

 

(581,833

)

USD

317,954,452

 

JPY

34,883,733,000

 

Bank of New York Mellon

 

5/16/2018

 

(3,573,869

)

USD

443,519,763

 

EUR

365,592,000

 

Goldman Sachs

 

6/13/2018

 

(14,481,333

)

USD

276,269,340

 

JPY

30,123,872,000

 

Goldman Sachs

 

6/13/2018

 

(1,909,918

)

Total unrealized depreciation

 

 

 

 

 

 

(83,938,441

)

Net unrealized depreciation

 

 

 

 

 

 

$

(80,367,633

)

 

Abbreviations

 

ADR

American Depositary Receipt

EUR

Euro

EURIBOR

Euro Interbank Offered Rate

GBP

British Pound

IDR

Indonesian Rupiah

JPY

Japanese Yen

MXN

Mexican Peso

MYR

Malaysian Ringgit

NVDR

Non-Voting Depositary Receipt

PJSC

Public Joint Stock Company

PLN

Polish Zloty

REIT

Real Estate Investment Trust

SGD

Singapore Dollar

USD

United States Dollar

 

See Notes to Consolidated Schedule of Investments.

 

(Continued)

 

7



 

Affiliated Securities

 

Security 
Description

 

Shares at
January 
31, 2018

 

Market Value
October 31,
2017

 

Purchases 
at Cost

 

Proceeds 
from Sales

 

Net Realized
Gain (Loss)

 

Change in 
Unrealized
Appreciation/
(Depreciation)

 

Market Value
January 31,
2018

 

Dividend/
Interest
Income

 

Capital 
Gain 
Distributions

 

Berkeley Group Holdings plc*

 

6,719,082

 

$

366,860,523

 

$

 

$

(37,763,694

)

$

21,607,308

 

$

27,620,162

 

$

378,324,299

 

$

 

$

 

Chofu Seisakusho Co. Ltd.

 

3,379,770

 

83,273,333

 

 

(767,364

)

67,246

 

(3,603,613

)

78,969,602

 

432,004

 

 

Emin Leydier SA

 

12,000,000

 

53,816,069

 

 

 

 

3,841,513

 

57,657,582

 

 

 

Flowserve Corp.

 

8,414,508

 

370,827,368

 

 

 

 

10,518,135

 

381,345,503

 

1,598,757

 

 

Hirose Electric Co. Ltd.

 

2,442,300

 

367,409,683

 

 

 

 

324,151

 

367,733,834

 

 

 

Hornbach Holding AG & Co. KGaA

 

1,181,422

 

101,162,948

 

 

 

 

6,353,087

 

107,516,035

 

 

 

Mills Music Trust

 

31,592

 

770,845

 

 

 

 

(12,637

)

758,208

 

25,801

 

 

Namyang Dairy Products Co. Ltd.

 

39,989

 

23,439,818

 

 

 

 

2,736,434

 

26,176,252

 

 

 

NOW, Inc.

 

5,851,664

 

73,262,833

 

 

 

 

(4,271,714

)

68,991,119

 

 

 

NSC Groupe

 

64,717

 

5,740,670

 

 

 

 

285,534

 

6,026,204

 

 

 

Orbital ATK, Inc.

 

3,694,106

 

491,057,511

 

 

 

 

(3,804,930

)

487,252,581

 

1,182,114

 

 

Sabeton SA

 

385,000

 

11,077,141

 

 

 

 

394,781

 

11,471,922

 

 

 

San Juan Basin Royalty Trust

 

3,908,035

 

29,427,504

 

 

 

 

8,832,159

 

38,259,663

 

829,336

 

 

T Hasegawa Co. Ltd.

 

3,061,300

 

67,686,317

 

 

(5,664,046

)

1,399,654

 

200,227

 

63,622,152

 

80,633

 

 

Teradata Corp.

 

12,190,179

 

407,761,488

 

 

 

 

85,940,761

 

493,702,249

 

 

 

Vista Outdoor, Inc.

 

3,252,457

 

68,008,876

 

 

 

 

(18,734,152

)

49,274,724

 

 

 

Total

 

66,616,121

 

$

2,521,582,927

 

$

 

$

(44,195,104

)

$

23,074,208

 

$

116,619,898

 

$

2,617,081,929

 

$

4,148,645

 

$

 

 


*Represents an unaffiliated issuer as of January 31, 2018.

 

See Notes to Consolidated Schedule of Investments.

 

(Continued)

 

8



 

Industry Diversification for Portfolio Holdings

 

Percent of Net 
Assets

 

Aerospace & Defense

 

0.8

%

Air Freight & Logistics

 

0.6

 

Auto Components

 

0.2

 

Automobiles

 

0.5

 

Banks

 

2.8

 

Beverages

 

0.5

 

Building Products

 

0.7

 

Capital Markets

 

1.6

 

Chemicals

 

2.1

 

Commercial Services & Supplies

 

1.9

 

Commodities

 

7.1

 

Construction & Engineering

 

0.5

 

Construction Materials

 

1.3

 

Consumer Finance

 

2.2

 

Containers & Packaging

 

0.2

 

Diversified Consumer Services

 

0.2

 

Diversified Financial Services

 

2.9

 

Electrical Equipment

 

0.2

 

Electronic Equipment, Instruments & Components

 

1.6

 

Energy Equipment & Services

 

3.6

 

Equity Real Estate Investment Trusts (REITs)

 

1.5

 

Food & Staples Retailing

 

0.3

 

Food Products

 

2.4

 

Foreign Government Securities

 

1.0

 

Gas Utilities

 

0.4

 

Health Care Equipment & Supplies

 

1.5

 

Health Care Providers & Services

 

0.8

 

Hotels, Restaurants & Leisure

 

0.5

 

Household Durables

 

0.7

 

Household Products

 

0.4

 

Industrial Conglomerates

 

2.1

 

Insurance

 

4.0

 

Internet Software & Services

 

0.6

 

IT Services

 

2.1

 

Leisure Products

 

0.6

 

Machinery

 

4.4

 

Media

 

3.3

 

Metals & Mining

 

3.9

 

Oil, Gas & Consumable Fuels

 

3.4

 

Pharmaceuticals

 

1.5

 

Real Estate Management & Development

 

1.9

 

Road & Rail

 

0.9

 

Semiconductors & Semiconductor Equipment

 

1.6

 

Software

 

4.7

 

Specialty Retail

 

0.6

 

Technology Hardware, Storage & Peripherals

 

0.0

*

Textiles, Apparel & Luxury Goods

 

0.3

 

Tobacco

 

1.2

 

Trading Companies & Distributors

 

0.5

 

U.S. Treasury Obligations

 

0.2

 

Wireless Telecommunication Services

 

2.0

 

Short-Term Investments

 

19.4

 

Total Investments

 

100.2

%

 


*Less than 0.05%

 

See Notes to Consolidated Schedule of Investments.

 

(Continued)

 

9



 

First Eagle Overseas Fund
Consolidated Schedule of Investments
January 31, 2018 (unaudited)

 

Investments

 

Shares

 

Value ($)

 

 

 

 

 

 

 

COMMON STOCKS — 71.8%

 

 

 

 

 

 

 

 

 

 

 

Africa — 0.1%

 

 

 

 

 

Randgold Resources Ltd., ADR

 

118,663

 

12,003,949

 

 

 

 

 

 

 

Australia — 0.7%

 

 

 

 

 

Newcrest Mining Ltd.

 

7,061,240

 

129,138,027

 

 

 

 

 

 

 

Belgium — 0.7%

 

 

 

 

 

Groupe Bruxelles Lambert SA

 

907,727

 

106,933,904

 

Sofina SA

 

98,473

 

17,165,185

 

 

 

 

 

124,099,089

 

Brazil — 0.8%

 

 

 

 

 

Cielo SA

 

17,529,180

 

147,892,140

 

 

 

 

 

 

 

Canada — 6.2%

 

 

 

 

 

Agnico Eagle Mines Ltd.

 

1,977,932

 

93,573,872

 

Barrick Gold Corp.

 

4,694,846

 

67,511,886

 

Canadian Natural Resources Ltd.

 

1,096,974

 

37,448,730

 

Cenovus Energy, Inc.

 

9,854,984

 

94,115,097

 

Franco-Nevada Corp.

 

882,841

 

67,505,037

 

Goldcorp, Inc.

 

7,294,482

 

104,456,982

 

Imperial Oil Ltd.

 

6,403,124

 

201,307,972

 

Nutrien Ltd.*

 

7,058,038

 

369,417,709

 

Suncor Energy, Inc.

 

1,889,614

 

68,456,260

 

Wheaton Precious Metals Corp.

 

2,972,376

 

64,173,598

 

 

 

 

 

1,167,967,143

 

Chile — 0.8%

 

 

 

 

 

Cia Cervecerias Unidas SA, ADR