First Eagle Global Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

Investments	Shares		Value ($)
COMMON STOCKS - 75.3%
Australia - 0.4%
Newcrest Mining Ltd.		9,349,121		187,169,748
Belgium - 0.6%
Groupe Bruxelles Lambert SA		2,788,865		280,263,530
Brazil - 0.2%
Cielo SA		75,872,591		125,255,503
Canada - 4.7%
Agnico Eagle Mines Ltd.		3,871,032		239,270,377
Barrick Gold Corp.		23,564,409		436,412,855
Cenovus Energy, Inc.		13,128,069		114,345,481
Franco-Nevada Corp.		1,720,472		195,564,911
Imperial Oil Ltd.		10,896,401		258,371,666
Nutrien Ltd.		11,278,104		481,462,260
Power Corp. of Canada		10,384,176		259,094,372
Wheaton Precious Metals Corp.		11,902,240		350,520,968
				2,335,042,890
Denmark - 0.1%
ISS A/S		3,009,360		73,113,616
France - 4.7%
Cie de Saint-Gobain		8,744,290		329,907,784
Danone SA		8,247,355		659,990,232
Legrand SA		2,040,139		163,235,052
LVMH Moet Hennessy Louis Vuitton SE		264,822		115,322,653
Rexel SA		11,789,132		141,022,857
Saint Jean Groupe SA(a)		261,940		6,826,857
Sanofi		4,486,722		432,692,411
Sodexo SA		3,089,157		323,449,753
Wendel SA		1,067,994		142,486,883
				2,314,934,482
Germany - 0.9%
HeidelbergCement AG		4,420,456		298,120,959
Henkel AG & Co. KGaA (Preference)		1,054,898		107,285,802
Hornbach Holding AG & Co. KGaA		451,742		28,557,255
				433,964,016
Hong Kong - 2.3%
CK Asset Holdings Ltd.		29,853,500		190,732,622
Guoco Group Ltd.		12,693,580		214,832,090
Hang Lung Properties Ltd.		48,179,406		100,643,290
Hongkong Land Holdings Ltd.		23,278,100		123,559,154
Hysan Development Co. Ltd.		23,322,348		87,061,713
Jardine Matheson Holdings Ltd.		6,979,771		389,066,130
Jardine Strategic Holdings Ltd.		1,542,800		47,210,074
				1,153,105,073
Ireland - 0.2%
CRH plc		3,284,015		123,662,128
Japan - 11.3%
Chofu Seisakusho Co. Ltd.(a)		3,346,500		71,025,000
FANUC Corp.		4,173,600		760,137,786
Hirose Electric Co. Ltd.(a)		2,202,315		273,151,564
Hoshizaki Corp.		2,027,500		186,513,702
Hoya Corp.		1,355,340		129,713,377
KDDI Corp.		20,462,200		618,348,862
Keyence Corp.		702,200		236,049,474
Komatsu Ltd.		6,756,000		149,382,147
Mitsubishi Electric Corp.		17,189,500		238,335,042
Mitsubishi Estate Co. Ltd.		30,826,080		603,712,472
MS&AD Insurance Group Holdings, Inc.		6,636,820		220,426,655
Nissin Foods Holdings Co. Ltd.		1,469,130		110,270,939
NTT DOCOMO, Inc.		7,423,400		210,916,633
Olympus Corp.		1,619,924		26,173,515
Secom Co. Ltd.		6,450,630		566,059,935
Shimano, Inc.		1,737,990		266,481,590
SMC Corp.		632,256		272,925,557
Sompo Holdings, Inc.		16,952,900		633,425,281
T Hasegawa Co. Ltd.(a)		3,002,800		61,597,273
				5,634,646,804
Mexico - 0.4%
Fresnillo plc		18,230,274		159,243,597
Industrias Penoles SAB de CV		6,401,020		66,860,857
				226,104,454
Norway - 0.3%
Orkla ASA		13,983,441		134,993,215
South Korea - 2.0%
Hyundai Mobis Co. Ltd.		1,067,561		204,142,892
Kia Motors Corp.		6,083,209		206,907,169
KT&G Corp.		4,745,993		377,134,183
Lotte Confectionery Co. Ltd.*		161,797		18,577,471
Lotte Corp.		913,277		26,798,295
Namyang Dairy Products Co. Ltd.*(a)		39,989		13,789,889
NAVER Corp.		302,939		45,176,875
Samsung Electronics Co. Ltd. (Preference)		3,010,804		117,694,678
				1,010,221,452
Sweden - 1.1%
Investor AB, Class A		3,325,495		181,362,257
Investor AB, Class B		3,394,798		185,882,213
Svenska Handelsbanken AB, Class A		16,841,698		165,001,668
				532,246,138
Switzerland - 2.4%
Cie Financiere Richemont SA (Registered)		4,561,324		331,256,007
Nestle SA (Registered)		4,497,808		496,075,395
Pargesa Holding SA(a)		4,327,670		346,684,998
				1,174,016,400
Taiwan - 0.6%
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		5,152,904		277,947,642

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Global Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

Investments	Shares		Value ($)
Thailand - 0.5%
Bangkok Bank PCL, NVDR		50,457,600		231,493,424
United Kingdom - 6.7%
Berkeley Group Holdings plc		5,013,920		346,934,186
British American Tobacco plc		18,990,473		837,383,552
BT Group plc		24,363,427		51,771,030
Diageo plc		3,750,155		148,292,830
GlaxoSmithKline plc		14,471,132		339,773,879
Linde plc		1,061,412		215,604,620
Linde plc		1,043,455		212,529,080
Lloyds Banking Group plc		588,687,159		439,475,826
TechnipFMC plc		15,937,242		263,123,865
Unilever NV		5,146,589		300,314,905
WPP plc		12,115,527		150,639,084
				3,305,842,857
United States - 35.9%
3M Co.		2,250,860		357,121,448
Alleghany Corp.*		418,350		333,701,061
Alphabet, Inc., Class A*		134,718		193,021,256
Alphabet, Inc., Class C*		163,012		233,796,701
American Express Co.		2,970,047		385,720,004
Analog Devices, Inc.		2,752,754		302,114,751
Anthem, Inc.		1,441,013		382,271,929
Bank of New York Mellon Corp. (The)		12,724,349		569,796,348
Berkshire Hathaway, Inc., Class A*		865		290,636,549
Booking Holdings, Inc.*		144,513		264,538,272
Brown & Brown, Inc.		6,606,295		296,622,645
CH Robinson Worldwide, Inc.		5,894,551		425,704,473
Charles Schwab Corp. (The)		3,988,832		181,691,298
Colgate-Palmolive Co.		8,044,177		593,499,379
Comcast Corp., Class A		22,940,736		990,810,388
ConocoPhillips		1,162,255		69,072,815
Cummins, Inc.		1,271,224		203,357,703
Deere & Co.		2,762,301		438,045,693
DENTSPLY SIRONA, Inc.		4,419,926		247,515,856
Expeditors International of Washington, Inc.		536,645		39,196,551
Exxon Mobil Corp.		15,144,015		940,746,212
Facebook, Inc., Class A*		1,528,101		308,538,873
Flowserve Corp.(a)		8,382,216		391,281,843
H&R Block, Inc.		3,586,106		83,197,659
HCA Healthcare, Inc.		1,665,329		231,147,665
IPG Photonics Corp.*		1,136,199		145,058,526
JG Boswell Co.		2,485		1,493,485
Kraft Heinz Co. (The)		3,569,007		104,215,004
Microsoft Corp.		2,494,255		424,597,029
Mills Music Trust(a)		31,592		1,105,720
National Oilwell Varco, Inc.		16,637,869		342,906,480
Newmont Corp.		9,675,395		435,973,299
NOW, Inc.*		2,182,088		21,842,701
Omnicom Group, Inc.		4,573,389		344,421,926
Oracle Corp.		21,407,976		1,122,848,341
Philip Morris International, Inc.		8,061,415		666,679,020
Royal Gold, Inc.		1,260,596		145,371,931
San Juan Basin Royalty Trust(a)		3,908,035		9,418,364
Schlumberger Ltd.		20,292,342		679,996,380
Scotts Miracle-Gro Co. (The)		1,126,328		138,245,499
Teradata Corp.*(a)		10,721,521		260,961,821
Texas Instruments, Inc.		2,493,377		300,825,935
Tiffany & Co.		1,148,649		153,941,939
Travelers Cos., Inc. (The)		2,211,808		291,118,169
Truist Financial Corp.		8,242,132		425,046,747
UGI Corp.		3,503,753		145,721,087
Union Pacific Corp.		1,710,300		306,862,026
Universal Health Services, Inc., Class B		2,116,279		290,163,014
US Bancorp		7,819,459		416,151,608
Varian Medical Systems, Inc.*		957,070		134,535,330
Wells Fargo & Co.		6,423,768		301,531,670
Weyerhaeuser Co., REIT		27,267,350		789,389,782
Willis Towers Watson plc		1,496,237		316,139,916
WR Berkley Corp.		4,588,904		337,422,111
				17,807,132,232
TOTAL COMMON STOCKS (Cost $27,494,346,642)				37,361,155,604

	Ounces
COMMODITIES - 9.9%
Gold bullion*
(Cost $3,255,381,405)	3,082,705	4,891,019,025

	Principal
	Amount ($)
FOREIGN GOVERNMENT SECURITIES - 1.4%
Indonesia - 0.2%
Indonesia Treasury Bond
8.25%, 7/15/2021	IDR	965,460,000,000	73,546,770
Malaysia - 0.2%
Malaysia Government Bond
3.66%, 10/15/2020	MYR	54,021,000	13,258,858
3.42%, 8/15/2022	MYR	443,682,000	109,659,801
			122,918,659
Mexico - 0.1%
Mexico Government Bond
Series M, 8.00%, 12/7/2023	MXN	911,940,000	50,505,033
Peru - 0.1%
Republic of Peru
8.20%, 8/12/2026(b)	PEN	183,392,000	69,547,167
Poland - 0.3%
Republic of Poland
2.50%, 4/25/2024	PLN	469,059,000	124,576,051
Singapore - 0.5%
Singapore Government Bond
3.25%, 9/1/2020	SGD	119,604,000	88,491,831

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Global Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

Investments	Principal Amount ($)		Value ($)
2.25%, 6/1/2021	SGD	214,847,000		159,083,039
				247,574,870
Venezuela, Bolivarian Republic of - 0.0%
Venezuela Government Bond (Oil Indexed Payment Obligation)
Zero Coupon, 4/15/2020‡(c)(d)(e)		53,230		—
TOTAL FOREIGN GOVERNMENT SECURITIES (Cost $677,046,361)				688,668,550
CORPORATE BONDS - 0.0%(f)
United States - 0.0%(f)
Bausch & Lomb, Inc.
7.13%, 8/1/2028‡ (Cost $4,982,422)		5,467,000		5,658,345
SHORT-TERM INVESTMENTS - 13.4%
COMMERCIAL PAPER - 13.4%
Air Liquide US LLC
1.77%, 3/2/2020(g)		22,452,000		22,421,646
Apple, Inc.
1.63%, 2/4/2020(b)(g)		73,927,000		73,914,153
1.63%, 2/5/2020(b)(g)		73,927,000		73,910,962
1.68%, 2/6/2020(b)(g)		20,113,000		20,107,767
1.59%, 2/11/2020(b)(g)		23,693,000		23,681,743
1.58%, 2/12/2020(b)(g)		56,460,000		56,430,754
1.60%, 2/19/2020(b)(g)		34,288,000		34,259,950
1.62%, 3/30/2020(b)(g)		33,465,000		33,380,209
1.61%, 4/1/2020(b)(g)		18,486,000		18,437,449
1.60%, 4/2/2020(b)(g)		66,568,000		66,390,415
AutoZone, Inc.
1.64%, 2/3/2020(b)(g)		1,499,000		1,498,791
Avery Dennison Corp.
1.68%, 2/3/2020(g)		2,399,000		2,398,660
BASF SE
1.62%, 3/6/2020(b)(g)		67,801,000		67,697,048
1.68%, 3/16/2020(g)		20,882,000		20,840,497
1.68%, 3/19/2020(g)		78,655,000		78,486,993
1.69%, 3/23/2020(b)(g)		104,664,000		104,419,389
1.69%, 3/24/2020(g)		66,452,000		66,293,316
1.69%, 3/25/2020(b)(g)		40,868,000		40,768,323
BNG Bank NV
1.57%, 2/3/2020(b)(g)		30,472,000		30,467,950
Boeing Co. (The)
2.03%, 2/18/2020(b)(g)		65,408,000		65,350,114
2.03%, 2/20/2020(b)(g)		31,176,000		31,145,344
BP Capital Markets plc
1.76%, 2/3/2020(g)		55,788,000		55,779,748
1.88%, 2/26/2020(g)		17,334,000		17,313,819
CenterPoint Energy, Inc.
1.67%, 2/3/2020(g)		2,699,000		2,698,629
Chevron Corp.
1.62%, 2/21/2020(b)(g)		63,255,000		63,198,176
1.60%, 3/12/2020(b)(g)		68,507,000		68,390,903
CME Group, Inc.
1.57%, 2/11/2020(g)		670,000		669,676
Coca-Cola Co. (The)
1.66%, 2/20/2020(b)(g)		64,902,000		64,846,472
1.64%, 2/21/2020(b)(g)		60,123,000		60,068,990
1.68%, 3/3/2020(b)(g)		75,280,000		75,176,950
Emerson Electric Co.
1.54%, 2/25/2020(g)		8,300,000		8,290,951
Engie SA
1.94%, 2/3/2020(b)(g)		44,789,000		44,783,289
1.70%, 3/5/2020(g)		71,983,000		71,874,226
1.68%, 4/9/2020(g)		34,048,000		33,939,410
Erste Abwicklungsanstalt
1.83%, 2/10/2020(b)(g)		17,334,000		17,326,450
1.72%, 4/6/2020(b)(g)		89,442,000		89,173,406
1.72%, 4/16/2020(b)(g)		83,377,000		83,089,210
1.72%, 4/17/2020(b)(g)		77,064,000		76,794,666
Export Development Corp.
1.74%, 2/18/2020(g)		46,693,000		46,656,813
Exxon Mobil Corp.
1.70%, 2/4/2020(g)		36,526,000		36,519,097
1.61%, 3/17/2020(g)		65,848,000		65,720,866
1.61%, 4/1/2020(g)		112,485,000		112,195,288
1.61%, 4/2/2020(g)		41,906,000		41,796,299
General Electric Co.
2.11%, 2/6/2020(g)		10,700,000		10,696,979
Henkel of America, Inc.
1.71%, 3/11/2020(b)(g)		42,860,000		42,785,376
Hitachi International Treasury Ltd.
1.71%, 2/3/2020(g)		5,998,000		5,997,155
Hydro-Quebec
1.62%, 3/5/2020(b)(g)		45,761,000		45,693,795
Kreditanstalt fuer Wiederaufbau
1.71%, 2/6/2020(b)(g)		45,279,000		45,267,152
1.73%, 2/7/2020(b)(g)		77,113,000		77,089,459
1.73%, 2/11/2020(b)(g)		80,365,000		80,326,447
1.73%, 2/13/2020(b)(g)		29,223,000		29,206,432
1.74%, 2/20/2020(b)(g)		31,898,000		31,870,178
1.73%, 2/21/2020(g)		52,184,000		52,136,208
1.56%, 3/9/2020(g)		125,000,000		124,788,758
1.65%, 4/29/2020(g)		17,934,000		17,860,445
LVMH Moet Hennessy Louis Vuitton, Inc.
1.74%, 2/7/2020(b)(g)		19,652,000		19,645,924
1.72%, 2/14/2020(b)(g)		17,600,000		17,589,179
1.72%, 2/25/2020(g)		38,098,000		38,056,436
1.56%, 3/2/2020(b)(g)		11,172,000		11,157,002
1.68%, 3/4/2020(b)(g)		27,099,000		27,060,298
1.66%, 4/14/2020(g)		33,284,000		33,178,022

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Global Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

Investments	Principal Amount ($)		Value ($)
Merck & Co., Inc.
1.55%, 3/12/2020(g)		49,412,000		49,327,700
1.54%, 3/13/2020(b)(g)		41,006,000		40,934,431
MetLife Short Term Funding LLC
1.80%, 2/3/2020(b)(g)		32,924,000		32,919,281
1.76%, 2/5/2020(b)(g)		88,499,000		88,478,104
1.69%, 2/10/2020(b)(g)		70,154,000		70,121,846
1.71%, 2/12/2020(b)(g)		35,031,000		35,011,967
1.80%, 2/13/2020(b)(g)		32,924,000		32,904,739
1.71%, 2/14/2020(b)(g)		33,359,000		33,338,114
1.79%, 3/2/2020(b)(g)		108,705,000		108,564,496
1.73%, 3/13/2020(b)(g)		55,947,000		55,848,571
Molson Coors Beverage Co.
1.85%, 2/3/2020(g)		1,499,000		1,498,770
Nederlandse Waterschapsbank NV
1.71%, 4/8/2020(b)(g)		29,578,000		29,486,765
1.71%, 4/9/2020(b)(g)		83,377,000		83,115,718
1.71%, 4/14/2020(b)(g)		39,328,000		39,195,178
Nestle Capital Corp.
1.64%, 2/11/2020(b)(g)		44,433,000		44,412,228
1.62%, 2/12/2020(b)(g)		40,631,000		40,610,413
1.62%, 2/14/2020(b)(g)		47,173,000		47,145,483
1.72%, 2/27/2020(b)(g)		50,000,000		49,944,125
1.72%, 2/28/2020(b)(g)		50,000,000		49,942,055
1.62%, 3/6/2020(b)(g)		33,873,000		33,823,701
Nestle Finance International Ltd.
1.71%, 2/20/2020(g)		55,185,000		55,139,319
1.61%, 4/15/2020(g)		81,736,000		81,478,872
Novartis Finance Corp.
1.53%, 2/27/2020(b)(g)		17,092,000		17,072,130
1.58%, 3/17/2020(g)		41,906,000		41,823,003
NRW Bank
1.80%, 2/7/2020(b)(g)		77,384,000		77,360,376
1.81%, 2/10/2020(b)(g)		80,365,000		80,329,952
1.57%, 3/3/2020(b)(g)		91,342,000		91,212,011
1.64%, 4/8/2020(b)(g)		66,931,000		66,726,444
Oesterreichische Kontrollbank AG
1.73%, 2/6/2020(g)		54,299,000		54,285,199
1.73%, 2/18/2020(g)		113,366,000		113,277,348
1.76%, 3/4/2020(g)		64,893,000		64,799,013
Pfizer, Inc.
1.69%, 2/4/2020(b)(g)		80,453,000		80,439,019
Philip Morris International, Inc.
1.55%, 2/6/2020(b)(g)		35,000,000		34,990,964
1.64%, 3/2/2020(b)(g)		42,017,000		41,960,883
1.58%, 3/4/2020(g)		66,701,000		66,606,107
1.56%, 3/10/2020(g)		39,529,000		39,462,367
1.57%, 3/13/2020(g)		62,924,000		62,809,625
1.57%, 3/17/2020(b)(g)		32,642,000		32,576,934
1.56%, 3/20/2020(b)(g)		82,012,000		81,837,861
Province of Quebec Canada
1.62%, 2/10/2020(b)(g)		37,118,000		37,101,441
1.68%, 2/12/2020(g)		25,105,000		25,091,577
1.69%, 2/19/2020(b)(g)		63,253,000		63,199,587
1.65%, 2/24/2020(b)(g)		18,763,000		18,742,861
1.63%, 3/9/2020(b)(g)		38,532,000		38,465,907
1.63%, 3/10/2020(g)		50,071,000		49,982,909
1.63%, 3/12/2020(b)(g)		37,770,000		37,700,185
1.63%, 3/17/2020(g)		21,036,000		20,992,482
1.61%, 3/20/2020(b)(g)		12,958,000		12,929,481
PSP Capital, Inc.
1.70%, 2/5/2020(b)(g)		34,051,000		34,043,755
1.71%, 2/11/2020(b)(g)		39,109,000		39,090,776
1.71%, 2/12/2020(b)(g)		42,860,000		42,838,227
1.76%, 2/13/2020(b)(g)		88,866,000		88,817,158
1.74%, 2/19/2020(b)(g)		87,211,000		87,141,728
1.77%, 3/3/2020(b)(g)		26,301,000		26,264,459
1.73%, 3/5/2020(b)(g)		22,836,000		22,802,247
1.78%, 3/11/2020(b)(g)		14,992,000		14,965,797
1.66%, 4/16/2020(b)(g)		24,377,000		24,294,300
QUALCOMM, Inc.
1.82%, 2/13/2020(g)		46,818,000		46,791,288
Sanofi
1.63%, 3/16/2020(b)(g)		82,090,000		81,924,794
1.60%, 3/18/2020(b)(g)		92,431,000		92,236,836
1.60%, 3/23/2020(b)(g)		49,680,000		49,564,825
1.70%, 3/31/2020(b)(g)		36,918,000		36,819,552
Siemens Capital Co. LLC
1.58%, 2/4/2020(g)		17,355,000		17,351,963
1.81%, 3/26/2020(b)(g)		83,281,000		83,085,440
Total Capital Canada Ltd.
1.79%, 2/3/2020(b)(g)		44,789,000		44,783,252
1.67%, 3/11/2020(g)		89,442,000		89,286,967
1.69%, 4/7/2020(b)(g)		59,733,000		59,556,018
Unilever Capital Corp.
1.72%, 2/3/2020(b)(g)		32,924,000		32,919,747
1.73%, 2/14/2020(b)(g)		49,385,000		49,355,232
UnitedHealth Group, Inc.
1.71%, 3/6/2020(g)		38,840,000		38,775,693
1.70%, 3/16/2020(g)		60,387,000		60,260,942
Walt Disney Co. (The)
1.61%, 3/27/2020(b)(g)		26,805,000		26,740,078
1.63%, 4/17/2020(b)(g)		36,973,000		36,847,023
1.62%, 4/21/2020(b)(g)		82,353,000		82,056,900
1.62%, 4/22/2020(b)(g)		38,532,000		38,391,660
1.62%, 4/23/2020(b)(g)		70,800,000		70,538,664
TOTAL COMMERCIAL PAPER (Cost $6,651,403,068)				6,651,572,915
U.S. TREASURY OBLIGATIONS - 0.0%(f)
U.S. Treasury Bills
1.49%, 3/3/2020 (g)(h) (Cost $14,980,754)		15,000,000		14,981,467
		Shares
INVESTMENT COMPANIES - 0.0%(f)
JP Morgan U.S. Government Money Market Fund, Agency Shares 1.41% (i) (Cost $424,373)		424,373		424,373
TOTAL SHORT-TERM INVESTMENTS (Cost $6,666,808,195)				6,666,978,755
Total Investments - 100.0% (Cost $38,098,565,025)				49,613,480,279
Other Assets Less Liabilities - 0.0%(f)				11,484,877
Net Assets - 100.0%				49,624,965,156

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Global Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

*	Non-income producing security.
‡	Value determined using significant unobservable inputs.
(a)	Affiliated company as defined under the Investment Company Act of 1940.
(b)	Securities exempt from registration under Rule 144A or section 4(a)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.
(c)	Security fair valued as of January 31, 2020 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2020 amounted to $0, which represents approximately 0.00% of net assets of the Fund.
(d)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of January 31, 2020.
(e)	Defaulted security.
(f)	Represents less than 0.05% of net assets.
(g)	The rate shown was the current yield as of January 31, 2020.
(h)	All or a portion of the security pledged as collateral.
(i)	Represents 7-day effective yield as of January 31, 2020.

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Global Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Forward Foreign Currency Exchange Contracts outstanding as of January 31, 2020
Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
EUR	167,690,000	USD	185,507,063	Goldman Sachs	2/12/2020	$	559,284
JPY	27,367,220,000	USD	250,436,684	Goldman Sachs	2/12/2020		2,252,056
USD	257,005,400	JPY	27,367,220,000	Goldman Sachs	2/12/2020		4,316,659
EUR	3,145,000	USD	3,482,411	JPMorgan Chase Bank	3/11/2020		13,168
JPY	7,484,645,000	USD	68,584,858	JPMorgan Chase Bank	3/11/2020		621,695
USD	176,409,881	EUR	158,118,000	JPMorgan Chase Bank	3/11/2020		666,150
USD	157,494,051	EUR	140,712,000	UBS AG	4/15/2020		745,197
USD	238,363,179	JPY	25,666,232,000	UBS AG	4/15/2020		549,755
USD	220,761,050	EUR	197,116,000	HSBC Bank plc	5/13/2020		829,068
Total unrealized appreciation							10,553,032
USD	185,544,793	EUR	167,690,000	Goldman Sachs	2/12/2020		(521,554	)
USD	112,789,597	GBP	89,559,000	Goldman Sachs	2/12/2020		(5,497,594	)
USD	57,750,438	GBP	44,921,000	JPMorgan Chase Bank	3/11/2020		(1,624,074	)
USD	368,986,442	JPY	39,993,149,000	JPMorgan Chase Bank	3/11/2020		(809,050	)
USD	137,005,900	GBP	103,622,000	UBS AG	4/15/2020		(91,119	)
USD	79,314,309	GBP	60,389,000	HSBC Bank plc	5/13/2020		(639,762	)
USD	354,697,932	JPY	38,311,101,000	HSBC Bank plc	5/13/2020		(804,719	)
Total unrealized depreciation							(9,987,872	)
Net unrealized appreciation						$	565,160

Abbreviations

ADR	American Depositary Receipt
EUR	Euro
GBP	British Pound
IDR	Indonesian Rupiah
JPY	Japanese Yen
MXN	Mexican Peso
MYR	Malaysia Ringgit
NVDR	Non-Voting Depositary Receipt
Preference	A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.
PEN	Peruvian Sol
PLN	Poland New Zloty
REIT	Real Estate Investment Trust
SGD	Singapore Dollar
USD	United States Dollar

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Global Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Affiliated Securities

Security Description	Shares at January 31, 2020		Market Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in  Unrealized Appreciation/ (Depreciation)			Market Value January 31, 2020		Dividend/ Interest Income		Capital Gain Distributions
Chofu Seisakusho Co. Ltd.		3,346,500	$	77,469,035	$	–	$	–		$	–	$	(6,444,035	)	$	71,025,000	$	440,349	$	–
Flowserve Corp.		8,382,216		409,387,429		–		–			–		(18,105,586	)		391,281,843		1,592,621		–
Hirose Electric Co. Ltd.		2,202,315		306,650,778		–		(29,878,701	)		4,421,074		(8,041,587	)		273,151,564		–		–
Mills Music Trust		31,592		897,213		–		–			–		208,507			1,105,720		31,358		–
Namyang Dairy Products Co. Ltd.*		39,989		16,171,580		–		–			–		(2,381,691	)		13,789,889		–		–
Pargesa Holding SA		4,327,670		342,096,567		–		–			–		4,588,431			346,684,998		–		–
Saint Jean Groupe SA		261,940		6,719,259		–		–			–		107,598			6,826,857		–		–
San Juan Basin Royalty Trust		3,908,035		10,278,132		–		–			–		(859,768	)		9,418,364		123,756		–
T Hasegawa Co. Ltd.		3,002,800		55,962,414		–		–			–		5,634,859			61,597,273		–		–
Teradata Corp.*		10,721,521		320,895,124		–		–			–		(59,933,303	)		260,961,821		–		–
Total			$	1,546,527,531	$	–	$	(29,878,701	)	$	4,421,074	$	(85,226,575	)	$	1,435,843,329	$	2,188,084	$	–

* Non-income producing security.

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Global Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Industry Diversification for Portfolio Holdings	Percent of Net Assets
Air Freight & Logistics		1.0	%
Auto Components		0.4
Automobiles		0.4
Banks		3.9
Beverages		0.3
Building Products		0.7
Capital Markets		1.5
Chemicals		2.3
Commercial Services & Supplies		1.2
Commodities		9.9
Construction Materials		0.8
Consumer Finance		0.8
Diversified Consumer Services		0.2
Diversified Financial Services		3.0
Diversified Telecommunication Services		0.1
Electrical Equipment		0.8
Electronic Equipment, Instruments & Components		1.4
Energy Equipment & Services		2.6
Entertainment		0.0	*
Equity Real Estate Investment Trusts (REITs)		1.6
Food Products		3.0
Foreign Government Securities		1.4
Gas Utilities		0.3
Health Care Equipment & Supplies		1.2
Health Care Providers & Services		1.9
Hotels, Restaurants & Leisure		0.7
Household Durables		0.8
Household Products		1.4
Industrial Conglomerates		2.1
Insurance		5.4
Interactive Media & Services		1.6
Internet & Direct Marketing Retail		0.5
IT Services		0.2
Leisure Products		0.5
Machinery		4.9
Media		3.0
Metals & Mining		4.5
Oil, Gas & Consumable Fuels		2.7
Personal Products		0.6
Pharmaceuticals		1.6
Real Estate Management & Development		2.2
Road & Rail		0.6
Semiconductors & Semiconductor Equipment		1.8
Software		3.6
Specialty Retail		0.4
Technology Hardware, Storage & Peripherals		0.2
Textiles, Apparel & Luxury Goods		0.9
Tobacco		3.8
Trading Companies & Distributors		0.3
Wireless Telecommunication Services		1.6
Short-Term Investments		13.4
Total Investments		100.0	%

* Less than 0.05%

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Overseas Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Investments	Shares		Value ($)
COMMON STOCKS - 73.9%
Australia - 0.4%
Newcrest Mining Ltd.		2,568,558		51,422,626
Belgium - 0.8%
Groupe Bruxelles Lambert SA		907,727		91,220,900
Legris Industries SE*‡(a)(b)(c)		905,366		18,033,567
				109,254,467
Brazil - 0.4%
Cielo SA		31,230,830		51,557,925
Canada - 6.5%
Agnico Eagle Mines Ltd.		1,063,638		65,743,984
Barrick Gold Corp.		6,972,023		129,121,866
Cenovus Energy, Inc.		6,627,505		57,725,568
Franco-Nevada Corp.		472,679		53,729,108
Imperial Oil Ltd.		6,877,585		163,078,901
Nutrien Ltd.		4,815,975		205,593,973
Power Corp. of Canada		4,725,503		117,905,478
Wheaton Precious Metals Corp.		3,269,997		96,301,412
				889,200,290
Chile - 0.9%
Cia Cervecerias Unidas SA, ADR		6,840,588		121,899,278
Denmark - 0.4%
ISS A/S		2,267,957		55,100,931
France - 7.9%
Cie de Saint-Gobain		4,196,973		158,344,939
Danone SA		4,115,540		329,343,917
Laurent-Perrier(c)		558,938		50,804,045
Legrand SA		691,232		55,306,668
Rexel SA		7,346,731		87,882,381
Saint Jean Groupe SA		51,740		1,348,483
Sanofi		1,849,956		178,406,846
Sodexo SA		1,354,608		141,834,042
Wendel SA		493,657		65,861,463
				1,069,132,784
Germany - 1.9%
FUCHS PETROLUB SE (Preference)		1,053,186		46,675,805
HeidelbergCement AG		1,871,185		126,195,005
Henkel AG & Co. KGaA (Preference)		434,441		44,183,751
Hornbach Holding AG & Co. KGaA		147,330		9,313,591
Telefonica Deutschland Holding AG		8,913,704		27,017,737
				253,385,889
Hong Kong - 4.8%
CK Asset Holdings Ltd.		13,955,500		89,161,040
Great Eagle Holdings Ltd.		22,777,700		69,448,555
Guoco Group Ltd.		7,806,340		132,118,152
Hang Lung Properties Ltd.		19,567,441		40,874,967
Hongkong Land Holdings Ltd.		9,272,700		49,219,093
Hysan Development Co. Ltd.		17,500,405		65,328,553
Jardine Matheson Holdings Ltd.		3,666,900		204,400,200
Jardine Strategic Holdings Ltd.		233,600		7,148,220
				657,698,780
Ireland - 0.4%
CRH plc		1,586,739		59,749,886
Japan - 20.4%
As One Corp.		744,340		67,452,926
Chofu Seisakusho Co. Ltd.(c)		1,835,700		38,960,284
Daiichikosho Co. Ltd.		2,242,080		108,914,500
FANUC Corp.		1,866,540		339,952,938
Hirose Electric Co. Ltd.		919,830		114,085,861
Hoshizaki Corp.		836,200		76,923,678
Hoya Corp.		558,630		53,463,916
Kansai Paint Co. Ltd.		3,559,930		85,217,303
KDDI Corp.		8,255,900		249,485,704
Keyence Corp.		286,700		96,376,223
Komatsu Ltd.		3,227,300		71,358,941
Maezawa Kasei Industries Co. Ltd.(c)		837,200		8,867,774
Mitsubishi Electric Corp.		7,375,000		102,255,501
Mitsubishi Estate Co. Ltd.		14,367,050		281,371,075
MS&AD Insurance Group Holdings, Inc.		3,144,900		104,450,593
Nagaileben Co. Ltd.		1,687,224		36,257,718
Nissin Foods Holdings Co. Ltd.		644,830		48,400,080
NTT DOCOMO, Inc.		3,027,700		86,024,233
Olympus Corp.		675,672		10,917,001
Secom Co. Ltd.		2,640,700		231,728,447
Shimano, Inc.		710,470		108,934,560
SK Kaken Co. Ltd.		87,561		38,222,835
SMC Corp.		268,090		115,726,245
Sompo Holdings, Inc.		6,825,700		255,034,298
T Hasegawa Co. Ltd.		1,906,436		39,107,253
				2,769,489,887
Mexico - 0.6%
Fresnillo plc		5,813,900		50,785,103
Industrias Penoles SAB de CV		2,246,692		23,467,471
				74,252,574
Netherlands - 0.7%
HAL Trust		595,098		95,062,016
Norway - 0.9%
Orkla ASA		13,188,419		127,318,239
Singapore - 1.6%
ComfortDelGro Corp. Ltd.		20,481,815		32,398,926
Haw Par Corp. Ltd.(c)		20,875,313		186,938,535
UOL Group Ltd.		26,200		152,198
				219,489,659

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Overseas Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Investments	Shares		Value ($)
South Korea - 4.0%
Fursys, Inc.*(c)		872,463		20,899,290
Hyundai Mobis Co. Ltd.		461,565		88,262,136
Kia Motors Corp.		2,863,889		97,408,977
KT&G Corp.		2,157,369		171,432,532
Lotte Confectionery Co. Ltd.*		104,605		12,010,707
Lotte Corp.		621,610		18,239,908
Namyang Dairy Products Co. Ltd.*		22,950		7,914,125
Namyang Dairy Products Co. Ltd. (Preference)*(c)		27,183		2,999,173
NAVER Corp.		125,632		18,735,326
NongShim Co. Ltd.		203,663		39,175,565
Samsung Electronics Co. Ltd. (Preference)		1,663,696		65,035,175
				542,112,914
Sweden - 2.4%
Industrivarden AB, Class C		1,572,517		37,066,737
Investor AB, Class A		1,645,125		89,720,052
Investor AB, Class B		2,096,088		114,771,328
Svenska Handelsbanken AB, Class A		8,041,032		78,779,687
				320,337,804
Switzerland - 4.3%
Cie Financiere Richemont SA (Registered)		1,876,623		136,285,570
Nestle SA (Registered)		2,338,404		257,908,894
Pargesa Holding SA		2,413,791		193,366,206
				587,560,670
Taiwan - 1.0%
Taiwan Secom Co. Ltd.		8,545,694		25,120,250
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		2,137,976		115,322,425
				140,442,675
Thailand - 0.9%
Bangkok Bank PCL, NVDR		20,413,559		93,654,963
Thai Beverage PCL		52,214,985		30,306,885
				123,961,848
Turkey - 0.2%
AG Anadolu Grubu Holding A/S		7,603,583		25,406,879
United Kingdom - 10.0%
Berkeley Group Holdings plc		1,795,849		124,262,336
British American Tobacco plc		7,146,922		315,143,015
BT Group plc		11,608,113		24,666,644
Diageo plc		1,558,209		61,616,446
GlaxoSmithKline plc		6,143,809		144,253,111
Hiscox Ltd.		2,662,703		46,067,061
Linde plc		580,089		118,151,508
Lloyds Banking Group plc		260,375,845		194,379,795
TechnipFMC plc		8,787,472		145,081,163
Unilever NV		2,108,554		123,038,812
WPP plc		5,076,546		63,119,519
				1,359,779,410
United States - 2.5%
Newmont Corp.		3,390,003		152,753,535
Royal Gold, Inc.		499,959		57,655,272
Willis Towers Watson plc		605,195		127,871,652
				338,280,459
TOTAL COMMON STOCKS (Cost $7,550,493,454)				10,041,897,890
	Ounces
COMMODITIES - 9.9%
Gold bullion*
(Cost $806,520,370)		848,708		1,346,560,870

	Principal Amount ($)
FOREIGN GOVERNMENT SECURITIES - 2.2%
Indonesia - 0.2%
Indonesia Treasury Bond
8.25%, 7/15/2021	IDR	436,483,000,000	33,250,383
Malaysia - 0.4%
Malaysia Government Bond
3.66%, 10/15/2020	MYR	25,956,000	6,370,614
3.42%, 8/15/2022	MYR	181,499,000	44,859,030
			51,229,644
Mexico - 0.2%
Mexico Government Bond
Series M, 8.00%, 12/7/2023	MXN	377,210,000	20,890,633
Peru - 0.2%
Republic of Peru
8.20%, 8/12/2026(d)	PEN	75,793,000	28,742,739
Poland - 0.4%
Republic of Poland
2.50%, 4/25/2024	PLN	195,005,000	51,790,825
Singapore - 0.8%
Singapore Government Bond
3.25%, 9/1/2020	SGD	53,521,000	39,598,770
2.25%, 6/1/2021	SGD	85,183,000	63,073,585
			102,672,355
TOTAL FOREIGN GOVERNMENT SECURITIES (Cost $283,134,757)			288,576,579

SHORT-TERM INVESTMENTS - 13.6%
COMMERCIAL PAPER - 13.5%
Air Liquide US LLC
1.77%, 3/2/2020(e)	10,229,000	10,215,171

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Overseas Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Investments	Principal Amount ($)		Value ($)
Apple, Inc.
1.63%, 2/4/2020(d)(e)		26,073,000		26,068,469
1.63%, 2/5/2020(d)(e)		26,073,000		26,067,344
1.68%, 2/6/2020(d)(e)		4,887,000		4,885,728
1.59%, 2/11/2020(d)(e)		11,307,000		11,301,628
1.58%, 2/12/2020(d)(e)		18,540,000		18,530,396
1.60%, 2/19/2020(d)(e)		5,712,000		5,707,327
1.62%, 3/30/2020(d)(e)		16,535,000		16,493,105
1.61%, 4/1/2020(d)(e)		6,514,000		6,496,892
1.60%, 4/2/2020(d)(e)		33,432,000		33,342,813
AutoZone, Inc.
1.64%, 2/3/2020(d)(e)		5,318,000		5,317,258
Avery Dennison Corp.
1.68%, 2/3/2020(e)		8,508,000		8,506,795
BASF SE
1.62%, 3/6/2020(d)(e)		18,399,000		18,370,791
1.68%, 3/16/2020(e)		10,318,000		10,297,493
1.68%, 3/19/2020(e)		21,345,000		21,299,407
1.69%, 3/23/2020(d)(e)		42,992,000		42,891,523
1.69%, 3/24/2020(e)		23,548,000		23,491,769
1.69%, 3/25/2020(d)(e)		9,132,000		9,109,727
BNG Bank NV
1.57%, 2/3/2020(d)(e)		19,528,000		19,525,404
Boeing Co. (The)
2.03%, 2/18/2020(d)(e)		9,592,000		9,583,511
2.03%, 2/20/2020(d)(e)		6,774,000		6,767,339
BP Capital Markets plc
1.76%, 2/3/2020(e)		9,862,000		9,860,541
CenterPoint Energy, Inc.
1.67%, 2/3/2020(e)		9,571,000		9,569,684
Chevron Corp.
1.62%, 2/21/2020(d)(e)		13,745,000		13,732,652
1.61%, 3/12/2020(d)(e)		6,493,000		6,481,997
CME Group, Inc.
1.57%, 2/11/2020(e)		1,130,000		1,129,453
Coca-Cola Co. (The)
1.66%, 2/20/2020(d)(e)		10,098,000		10,089,361
1.64%, 2/21/2020(d)(e)		14,877,000		14,863,635
1.68%, 3/3/2020(d)(e)		24,720,000		24,686,161
Engie SA
1.94%, 2/3/2020(d)(e)		5,211,000		5,210,335
1.70%, 3/5/2020(e)		33,962,000		33,910,680
1.68%, 4/9/2020(e)		15,952,000		15,901,124
Erste Abwicklungsanstalt
1.72%, 4/6/2020(d)(e)		10,558,000		10,526,294
1.72%, 4/16/2020(d)(e)		16,623,000		16,565,623
1.72%, 4/17/2020(d)(e)		22,936,000		22,855,840
Export Development Corp.
1.74%, 2/18/2020(e)		5,432,000		5,427,790
Exxon Mobil Corp.
1.70%, 2/4/2020(e)		8,874,000		8,872,323
1.61%, 3/17/2020(e)		9,152,000		9,134,330
1.61%, 4/1/2020(e)		23,865,000		23,803,534
1.61%, 4/2/2020(e)		8,094,000		8,072,812
Henkel of America, Inc.
1.71%, 3/11/2020(d)(e)		7,140,000		7,127,568
Hitachi International Treasury Ltd.
1.71%, 2/3/2020(e)		21,270,000		21,267,004
Hydro-Quebec
1.62%, 3/5/2020(d)(e)		8,839,000		8,826,019
Kreditanstalt fuer Wiederaufbau
1.71%, 2/6/2020(d)(e)		32,821,000		32,812,412
1.73%, 2/7/2020(d)(e)		22,537,000		22,530,120
1.73%, 2/11/2020(d)(e)		19,635,000		19,625,581
1.73%, 2/13/2020(d)(e)		14,577,000		14,568,736
1.74%, 2/20/2020(d)(e)		3,002,000		2,999,381
1.65%, 4/29/2020(e)		8,766,000		8,730,047
LVMH Moet Hennessy Louis Vuitton, Inc.
1.74%, 2/7/2020(d)(e)		11,798,000		11,794,353
1.72%, 2/25/2020(e)		11,902,000		11,889,015
1.56%, 3/2/2020(d)(e)		18,828,000		18,802,724
1.68%, 3/4/2020(d)(e)		11,964,000		11,946,913
1.66%, 4/14/2020(e)		16,716,000		16,662,775
Merck & Co., Inc.
1.55%, 3/12/2020(e)		16,935,000		16,906,108
1.54%, 3/13/2020(d)(e)		8,994,000		8,978,302
MetLife Short Term Funding LLC
1.80%, 2/3/2020(d)(e)		7,930,000		7,928,863
1.76%, 2/5/2020(d)(e)		21,501,000		21,495,924
1.69%, 2/10/2020(d)(e)		23,323,000		23,312,310
1.71%, 2/12/2020(d)(e)		5,108,000		5,105,225
1.80%, 2/13/2020(d)(e)		7,930,000		7,925,361
1.71%, 2/14/2020(d)(e)		16,641,000		16,630,581
1.79%, 3/2/2020(d)(e)		10,295,000		10,281,693
1.73%, 3/13/2020(d)(e)		5,303,000		5,293,670
Molson Coors Beverage Co.
1.85%, 2/3/2020(e)		5,318,000		5,317,185
Nederlandse Waterschapsbank NV
1.71%, 4/8/2020(d)(e)		10,422,000		10,389,853
1.71%, 4/9/2020(d)(e)		16,623,000		16,570,907
1.71%, 4/14/2020(d)(e)		10,672,000		10,635,958
Nestle Capital Corp.
1.64%, 2/11/2020(d)(e)		5,567,000		5,564,398
1.62%, 2/12/2020(d)(e)		6,769,000		6,765,570
1.62%, 2/14/2020(d)(e)		11,927,000		11,920,043
1.62%, 3/6/2020(d)(e)		14,955,000		14,933,234
Nestle Finance International Ltd.
1.71%, 2/20/2020(e)		44,815,000		44,777,903
1.61%, 4/15/2020(e)		18,264,000		18,206,545
Novartis Finance Corp.
1.53%, 2/27/2020(d)(e)		8,008,000		7,998,691
1.58%, 3/17/2020(e)		8,094,000		8,077,969
NRW Bank
1.80%, 2/7/2020(d)(e)		22,616,000		22,609,096
1.81%, 2/10/2020(d)(e)		19,635,000		19,626,437
1.57%, 3/3/2020(d)(e)		8,658,000		8,645,678
1.64%, 4/8/2020(d)(e)		33,069,000		32,967,934
Oesterreichische Kontrollbank AG
1.73%, 2/6/2020(e)		19,151,000		19,146,133

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Overseas Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Investments	Principal Amount ($)		Value ($)
1.73%, 2/18/2020(e)		24,634,000		24,614,736
1.76%, 3/4/2020(e)		6,107,000		6,098,155
Pfizer, Inc.
1.69%, 2/4/2020(d)(e)		19,547,000		19,543,603
Philip Morris International, Inc.
1.64%, 3/2/2020(d)(e)		3,983,000		3,977,680
1.58%, 3/4/2020(e)		13,299,000		13,280,080
1.56%, 3/10/2020(e)		13,548,000		13,525,163
1.57%, 3/13/2020(e)		17,076,000		17,044,961
1.57%, 3/17/2020(d)(e)		8,858,000		8,840,343
1.56%, 3/20/2020(d)(e)		17,988,000		17,949,806
Province of Quebec Canada
1.62%, 2/10/2020(d)(e)		4,382,000		4,380,045
1.68%, 2/12/2020(e)		3,145,000		3,143,319
1.69%, 2/19/2020(d)(e)		22,515,000		22,495,987
1.65%, 2/24/2020(d)(e)		15,237,000		15,220,646
1.63%, 3/9/2020(d)(e)		11,468,000		11,448,329
1.63%, 3/10/2020(e)		17,161,000		17,130,808
1.63%, 3/12/2020(d)(e)		7,530,000		7,516,081
1.63%, 3/17/2020(e)		10,564,000		10,542,146
1.61%, 3/20/2020(d)(e)		2,842,000		2,835,745
PSP Capital, Inc.
1.70%, 2/5/2020(d)(e)		16,249,000		16,245,542
1.71%, 2/11/2020(d)(e)		11,291,000		11,285,739
1.71%, 2/12/2020(d)(e)		7,140,000		7,136,373
1.76%, 2/13/2020(d)(e)		11,134,000		11,127,881
1.74%, 2/19/2020(d)(e)		12,789,000		12,778,842
1.77%, 3/3/2020(d)(e)		23,699,000		23,666,074
1.73%, 3/5/2020(d)(e)		2,164,000		2,160,801
1.78%, 3/11/2020(d)(e)		13,508,000		13,484,391
1.66%, 4/16/2020(d)(e)		15,623,000		15,569,998
QUALCOMM, Inc.
1.82%, 2/13/2020(e)		8,536,000		8,531,130
Sanofi
1.63%, 3/16/2020(d)(e)		40,560,000		40,478,373
1.60%, 3/18/2020(d)(e)		32,569,000		32,500,584
1.60%, 3/23/2020(d)(e)		25,896,000		25,835,964
1.70%, 3/31/2020(d)(e)		13,082,000		13,047,115
Siemens Capital Co. LLC
1.58%, 2/4/2020(e)		1,645,000		1,644,712
1.83%, 3/26/2020(d)(e)		38,219,000		38,129,255
Total Capital Canada Ltd.
1.79%, 2/3/2020(d)(e)		5,211,000		5,210,331
1.67%, 3/11/2020(e)		10,558,000		10,539,699
1.69%, 4/7/2020(d)(e)		21,167,000		21,104,285
Unilever Capital Corp.
1.72%, 2/3/2020(d)(e)		7,930,000		7,928,976
1.73%, 2/14/2020(d)(e)		11,894,000		11,886,830
UnitedHealth Group, Inc.
1.71%, 3/6/2020(e)		11,560,000		11,540,860
1.70%, 3/16/2020(e)		11,663,000		11,638,654
Walt Disney Co. (The)
1.61%, 3/27/2020(d)(e)		9,445,000		9,422,124
1.63%, 4/17/2020(d)(e)		13,027,000		12,982,614
1.62%, 4/21/2020(d)(e)		28,226,000		28,124,513
1.62%, 4/22/2020(d)(e)		11,468,000		11,426,232
1.62%, 4/23/2020(d)(e)		17,700,000		17,634,666
TOTAL COMMERCIAL PAPER (Cost $1,835,166,393)				1,835,208,469
U.S. TREASURY OBLIGATIONS - 0.1%
U.S. Treasury Bills
1.49%, 3/3/2020(e)(f)
(Cost $14,980,754)		15,000,000		14,981,467

	Shares
INVESTMENT COMPANIES - 0.0%(g)
JP Morgan U.S. Government Money Market Fund, Agency Shares 1.41% (h) (Cost $183,859)		183,859	183,859
TOTAL SHORT-TERM INVESTMENTS (Cost $1,850,331,006)			1,850,373,795
Total Investments - 99.6% (Cost $10,490,479,587)			13,527,409,134
Other Assets Less Liabilities - 0.4%			61,983,508
Net Assets - 100.0%			13,589,392,642

*	Non-income producing security.
‡	Value determined using significant unobservable inputs.
(a)	Security fair valued as of January 31, 2020 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2020 amounted to $18,033,567, which represents approximately 0.13% of net assets of the Fund.
(b)	Represents a security that is subject to legal or contractual restrictions on resale.
(c)	Affiliated company as defined under the Investment Company Act of 1940.
(d)	Securities exempt from registration under Rule 144A or section 4(a)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.
(e)	The rate shown was the current yield as of January 31, 2020.
(f)	All or a portion of the security pledged as collateral.
(g)	Represents less than 0.05% of net assets.
(h)	Represents 7-day effective yield as of January 31, 2020.

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Overseas Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Restricted Securities	Acquisition Date	Cost		Carrying Value Per Share/Principal
Legris Industries SE	04/30/04	$	23,433,066	$	19.92

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Overseas Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Forward Foreign Currency Exchange Contracts outstanding as of January 31, 2020

Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
EUR	98,510,000	USD	108,976,688	Goldman Sachs	2/12/2020	$	328,553
JPY	13,840,556,000	USD	126,654,551	Goldman Sachs	2/12/2020		1,138,943
USD	129,976,579	JPY	13,840,556,000	Goldman Sachs	2/12/2020		2,183,086
JPY	3,061,929,000	USD	28,057,706	JPMorgan Chase Bank	3/11/2020		254,332
USD	68,990,613	EUR	61,837,000	JPMorgan Chase Bank	3/11/2020		260,519
USD	115,829,780	EUR	103,569,000	UBS AG	4/15/2020		457,089
USD	177,723,859	JPY	19,136,772,000	UBS AG	4/15/2020		409,898
USD	80,644,600	EUR	72,007,000	HSBC Bank plc	5/13/2020		302,861
Total unrealized appreciation							5,335,281
USD	108,998,852	EUR	98,510,000	Goldman Sachs	2/12/2020		(306,389	)
USD	45,456,003	GBP	36,168,000	Goldman Sachs	2/12/2020		(2,313,749	)
USD	26,788,047	GBP	20,837,000	JPMorgan Chase Bank	3/11/2020		(753,341	)
USD	182,309,670	JPY	19,759,907,000	JPMorgan Chase Bank	3/11/2020		(399,738	)
USD	54,599,010	GBP	41,295,000	UBS AG	4/15/2020		(36,312	)
USD	9,892,526	EUR	8,902,000	HSBC Bank plc	5/13/2020		(39,872	)
USD	33,966,892	GBP	25,862,000	HSBC Bank plc	5/13/2020		(273,982	)
USD	106,599,673	JPY	11,513,884,000	HSBC Bank plc	5/13/2020		(241,848	)
Total unrealized depreciation							(4,365,231	)
Net unrealized appreciation						$	970,050

Abbreviations
ADR	American Depositary Receipt
EUR	Euro
GBP	British Pound
IDR	Indonesian Rupiah
JPY	Japanese Yen
MXN	Mexican Peso
MYR	Malaysia Ringgit
NVDR	Non-Voting Depositary Receipt
PEN	Peruvian Sol
PLN	Poland New Zloty
Preference	A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.
SGD	Singapore Dollar
USD	United States Dollar

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Overseas Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Affiliated Securities

Security Description	Shares at January 31, 2020		Market Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in  Unrealized Appreciation/ (Depreciation)			Market Value January 31, 2020		Dividend/ Interest Income		Capital Gain Distributions
Chofu Seisakusho Co. Ltd.		1,835,700	$	42,652,531	$	-	$	(156,044	)	$	19,355	$	(3,555,558	)	$	38,960,284	$	241,879	$	-
Fursys, Inc.*		872,463		23,284,177		-		-			-		(2,384,887	)		20,899,290		-		-
Haw Par Corp. Ltd.		20,875,313		205,615,197		-		-			-		(18,676,662	)		186,938,535		-		-
Laurent-Perrier		558,938		55,481,136		-		-			-		(4,677,091	)		50,804,045		-		-
Legris Industries SE*‡(a)(b)		905,366		19,770,997		-		-			-		(1,737,430	)		18,033,567		-		-
Maezawa Kasei Industries Co. Ltd.		837,200		9,169,992		-		-			-		(302,218	)		8,867,774		-		-
Namyang Dairy Products Co. Ltd. (Preference)*		27,183		4,018,631		-		-			-		(1,019,458	)		2,999,173		-		-
Total			$	359,992,661	$	-	$	(156,044	)	$	19,355	$	(32,353,304	)	$	327,502,668	$	241,879	$	-

* Non-income producing security.

‡ Value determined using significant unobservable inputs.

(a) Security fair valued as of January 31, 2020 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2020 amounted to $18,033,567 which represents approximately 0.13% of net assets of the Fund.

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

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Overseas Fund
Consolidated Schedule of Investments
January 31, 2020 (unaudited)

Industry Diversification for Portfolio Holdings	Percent of Net Assets
Auto Components		0.6	%
Automobiles		0.7
Banks		2.7
Beverages		1.9
Building Products		1.3
Chemicals		4.0
Commercial Services & Supplies		2.5
Commodities		9.9
Construction Materials		1.3
Consumer Finance		0.1
Diversified Financial Services		5.1
Diversified Telecommunication Services		0.4
Electrical Equipment		1.1
Electronic Equipment, Instruments & Components		1.5
Energy Equipment & Services		1.1
Entertainment		0.8
Food Products		6.1
Foreign Government Securities		2.2
Health Care Equipment & Supplies		0.8
Health Care Providers & Services		0.5
Hotels, Restaurants & Leisure		1.0
Household Durables		1.2
Household Products		0.3
Industrial Conglomerates		2.8
Insurance		4.9
Interactive Media & Services		0.1
IT Services		0.4
Leisure Products		0.8
Machinery		4.4
Media		0.5
Metals & Mining		5.0
Oil, Gas & Consumable Fuels		1.6
Personal Products		0.9
Pharmaceuticals		3.8
Real Estate Management & Development		4.4
Road & Rail		0.2
Semiconductors & Semiconductor Equipment		0.8
Specialty Retail		0.1
Technology Hardware, Storage & Peripherals		0.5
Textiles, Apparel & Luxury Goods		1.0
Tobacco		3.6
Trading Companies & Distributors		0.7
Wireless Telecommunication Services		2.4
Short-Term Investments		13.6
Total Investments		99.6	%

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle U.S. Value Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

Investments	Shares		Value ($)
COMMON STOCKS - 73.8%
Air Freight & Logistics - 1.6%
CH Robinson Worldwide, Inc.		294,902		21,297,822
Expeditors International of Washington, Inc.		23,975		1,751,134
				23,048,956
Banks - 4.9%
Truist Financial Corp.		548,196		28,270,468
US Bancorp		520,595		27,706,066
Wells Fargo & Co.		344,191		16,156,325
				72,132,859
Capital Markets - 2.6%
Bank of New York Mellon Corp. (The)		666,763		29,857,647
Charles Schwab Corp. (The)		190,289		8,667,664
				38,525,311
Chemicals - 2.5%
Linde plc (United Kingdom)		60,413		12,271,693
Nutrien Ltd. (Canada)		354,371		15,128,098
Scotts Miracle-Gro Co. (The)		73,571		9,030,104
				36,429,895
Consumer Finance - 1.3%
American Express Co.		152,292		19,778,162
Diversified Consumer Services - 0.4%
H&R Block, Inc.		235,069		5,453,601
Diversified Financial Services - 1.1%
Berkshire Hathaway, Inc., Class A*		49		16,463,805
Electronic Equipment, Instruments & Components - 0.5%
IPG Photonics Corp.*		58,918		7,522,061
Energy Equipment & Services - 4.2%
National Oilwell Varco, Inc.		806,298		16,617,802
Schlumberger Ltd.		974,723		32,662,967
TechnipFMC plc (United Kingdom)		769,482		12,704,148
				61,984,917
Equity Real Estate Investment Trusts (REITs) - 3.3%
Weyerhaeuser Co.		1,665,826		48,225,663
Food Products - 0.3%
Kraft Heinz Co. (The)		172,296		5,031,043
Gas Utilities - 0.4%
UGI Corp.		157,693		6,558,452
Health Care Equipment & Supplies - 1.5%
DENTSPLY SIRONA, Inc.		269,147		15,072,232
Varian Medical Systems, Inc.*		49,367		6,939,519
				22,011,751
Health Care Providers & Services - 3.0%
Anthem, Inc.		65,461		17,365,494
HCA Healthcare, Inc.		87,241		12,109,051
Universal Health Services, Inc., Class B		111,217		15,248,963
				44,723,508
Household Products - 2.6%
Colgate-Palmolive Co.		510,304		37,650,229
Industrial Conglomerates - 1.3%
3M Co.		123,721		19,629,574
Insurance - 7.5%
Alleghany Corp.*		47,917		38,221,474
Brown & Brown, Inc.		431,203		19,361,015
Travelers Cos., Inc. (The)		98,866		13,012,743
Willis Towers Watson plc		89,308		18,869,887
WR Berkley Corp.		279,699		20,566,268
				110,031,387
Interactive Media & Services - 2.9%
Alphabet, Inc., Class A*		7,298		10,456,428
Alphabet, Inc., Class C*		9,165		13,144,718
Facebook, Inc., Class A*		93,744		18,927,851
				42,528,997
Internet & Direct Marketing Retail - 0.8%
Booking Holdings, Inc.*		6,495		11,889,422
Machinery - 4.8%
Cummins, Inc.		59,929		9,586,842
Deere & Co.		172,013		27,277,822
Flowserve Corp.		708,399		33,068,065
				69,932,729
Media - 5.3%
Comcast Corp., Class A		1,316,205		56,846,894
Omnicom Group, Inc.		276,304		20,808,454
				77,655,348
Metals & Mining - 4.0%
Agnico Eagle Mines Ltd. (Canada)		126,201		7,800,546
Barrick Gold Corp. (Canada)		920,533		17,048,271
Franco-Nevada Corp. (Canada)		56,089		6,375,600
Newcrest Mining Ltd. (Australia)		304,794		6,101,987
Newmont Corp.		318,423		14,348,140
Royal Gold, Inc.		60,422		6,967,865
				58,642,409
Oil, Gas & Consumable Fuels - 4.1%
ConocoPhillips		67,957		4,038,685
Exxon Mobil Corp.		797,585		49,545,980
Imperial Oil Ltd. (Canada)		297,287		7,049,166
				60,633,831
Road & Rail - 1.3%
Union Pacific Corp.		103,572		18,582,888
Semiconductors & Semiconductor Equipment - 2.3%
Analog Devices, Inc.		154,943		17,004,994

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle U.S. Value Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

Investments	Shares		Value ($)
Texas Instruments, Inc.		133,715		16,132,715
				33,137,709
Software - 6.5%
Microsoft Corp.		115,611		19,680,461
Oracle Corp.		1,118,440		58,662,178
Teradata Corp.*		672,539		16,369,599
				94,712,238
Specialty Retail - 0.5%
Tiffany & Co.		52,930		7,093,679
Tobacco - 2.2%
Philip Morris International, Inc.		389,737		32,231,250
Trading Companies & Distributors - 0.1%
NOW, Inc.*		107,620		1,077,276
TOTAL COMMON STOCKS (Cost $731,977,928)				1,083,318,950

	Ounces
COMMODITIES - 12.6%
Gold bullion* (Cost $131,663,714)	116,288	184,501,755

	Principal Amount ($)
CORPORATE BONDS - 1.3%
Banks - 0.9%
Wachovia Capital Trust III (ICE LIBOR USD 3 Month + 0.93%, 5.57% Floor), 5.57%, 3/9/2020(a)(b)		12,404,000	12,605,565
Health Care Equipment & Supplies - 0.0%(c)
Bausch & Lomb, Inc.
7.13%, 8/1/2028‡		600,000	621,000
Oil, Gas & Consumable Fuels - 0.4%
CITGO Petroleum Corp.
6.25%, 8/15/2022(d)		6,542,000	6,615,689
TOTAL CORPORATE BONDS (Cost $19,385,607)			19,842,254

SHORT-TERM INVESTMENTS - 12.5%
COMMERCIAL PAPER - 0.6%
AutoZone, Inc.
1.64%, 2/3/2020(d)(e)	961,000	960,866
Avery Dennison Corp.
1.68%, 2/3/2020(e)	1,538,000	1,537,782
CenterPoint Energy, Inc.
1.67%, 2/3/2020(e)	1,730,000	1,729,762
Hitachi International Treasury Ltd.
1.71%, 2/3/2020(e)	3,844,000	3,843,458
Molson Coors Beverage Co.
1.85%, 2/3/2020(e)	961,000	960,853
TOTAL COMMERCIAL PAPER (Cost $9,033,145)		9,032,721

	Shares
INVESTMENT COMPANIES - 0.0%(c)
JP Morgan U.S. Government Money Market Fund, Agency Shares, 1.41%, (f) (Cost $28,502)		28,502	28,502

	Principal Amount ($)
U.S. TREASURY OBLIGATIONS - 11.9%
U.S. Treasury Bills
1.50%, 2/4/2020(e)		20,000,000	19,999,235
1.52%, 2/6/2020(e)		25,000,000	24,996,953
1.51%, 3/3/2020(e)		30,000,000	29,962,934
1.48%, 3/5/2020(e)		20,000,000	19,973,656
1.52%, 3/10/2020(e)		20,000,000	19,969,697
1.50%, 3/12/2020(e)		30,000,000	29,951,466
1.48%, 3/26/2020(e)		30,000,000	29,934,162
TOTAL U.S. TREASURY OBLIGATIONS (Cost $174,777,626)			174,788,103
TOTAL SHORT-TERM INVESTMENTS (Cost $183,839,273)			183,849,326
Total Investments - 100.2% (Cost $1,066,866,522)			1,471,512,285
Liabilities in excess of other assets - (0.2%)			(3,202,158	)
Net Assets - 100.0%			1,468,310,127

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle U.S. Value Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

*	Non-income producing security.
‡	Value determined using significant unobservable inputs.
(a)	Perpetual security. The rate reflected was the rate in effect on January 31, 2020. The maturity date reflects the next call date.
(b)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of January 31, 2020.
(c)	Represents less than 0.05% of net assets.
(d)	Securities exempt from registration under Rule 144A or section 4(a)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.
(e)	The rate shown was the current yield as of January 31, 2020.
(f)	Represents 7-day effective yield as of January 31, 2020.

Abbreviations
ICE	Intercontinental Exchange
LIBOR	London Interbank Offered Rate
USD	United States Dollar

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle U.S. Value Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

Industry Diversification for Portfolio Holdings	Percent of Net Assets
Air Freight & Logistics		1.6	%
Banks		5.8
Capital Markets		2.6
Chemicals		2.5
Commodities		12.6
Consumer Finance		1.3
Diversified Consumer Services		0.4
Diversified Financial Services		1.1
Electronic Equipment, Instruments & Components		0.5
Energy Equipment & Services		4.2
Equity Real Estate Investment Trusts (REITs)		3.3
Food Products		0.3
Gas Utilities		0.4
Health Care Equipment & Supplies		1.5
Health Care Providers & Services		3.0
Household Products		2.6
Industrial Conglomerates		1.3
Insurance		7.5
Interactive Media & Services		2.9
Internet & Direct Marketing Retail		0.8
Machinery		4.8
Media		5.3
Metals & Mining		4.0
Oil, Gas & Consumable Fuels		4.5
Road & Rail		1.3
Semiconductors & Semiconductor Equipment		2.3
Software		6.5
Specialty Retail		0.5
Tobacco		2.2
Trading Companies & Distributors		0.1
Short-Term Investments		12.5
Total Investments		100.2	%

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Gold Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

Investments	Shares		Value ($)
COMMON STOCKS - 70.0%
Australia - 4.1%
Newcrest Mining Ltd.		2,569,178		51,435,039
OceanaGold Corp.		1,470,781		3,078,482
				54,513,521
Canada - 45.9%
Agnico Eagle Mines Ltd.		932,961		57,666,775
Alamos Gold, Inc., Class A		4,681,838		29,540,084
B2Gold Corp.		14,178,157		61,387,970
Barrick Gold Corp.		6,871,570		127,261,476
Detour Gold Corp.*		1,933,697		34,629,454
Dundee Precious Metals, Inc.*(a)		9,400,440		43,400,853
Franco-Nevada Corp.		427,322		48,573,408
Kinross Gold Corp.*		2,175,478		11,029,674
MAG Silver Corp.*		3,280,988		35,750,224
Novagold Resources, Inc.*		6,941,068		63,302,540
Orla Mining Ltd.*		3,341,382		6,438,359
Wheaton Precious Metals Corp.		2,965,286		87,327,673
				606,308,490
Mexico - 4.2%
Fresnillo plc		4,704,939		41,098,198
Industrias Penoles SAB de CV		1,403,600		14,661,085
				55,759,283
South Africa - 2.0%
AngloGold Ashanti Ltd., ADR		1,286,240		26,187,846
United States - 13.8%
Newmont Corp.		3,012,285		135,733,562
Royal Gold, Inc.		403,057		46,480,533
				182,214,095
TOTAL COMMON STOCKS (Cost $540,991,476)				924,983,235

	Ounces
COMMODITIES - 21.5%
Gold bullion*		142,102	225,459,633
Silver bullion*		3,267,377	58,899,373
TOTAL COMMODITIES (Cost $175,938,258)			284,359,006

	Number of Rights
RIGHTS - 0.3%
Canada - 0.3%
Pan American Silver Corp., CVR, expiring 2/22/2029*
(Cost $45,973,716)		6,835,667	4,511,540

	Principal Amount ($)
SHORT-TERM INVESTMENTS - 7.9%
COMMERCIAL PAPER - 7.9%
AutoZone, Inc.
1.64%, 2/3/2020(b)(c)		6,985,000	6,984,025
Avery Dennison Corp.
1.68%, 2/3/2020(c)		11,176,000	11,174,417
CenterPoint Energy, Inc.
1.67%, 2/3/2020(c)		12,573,000	12,571,271
Hitachi International Treasury Ltd.
1.71%, 2/3/2020(c)		27,940,000	27,936,065
Merck & Co., Inc.
1.55%, 3/12/2020(c)		8,653,000	8,638,238
Molson Coors Beverage Co.
1.85%, 2/3/2020(c)		6,985,000	6,983,929
Philip Morris International, Inc.
1.56%, 3/10/2020(c)		6,923,000	6,911,330
Province of Quebec Canada
1.63%, 3/10/2020(c)		8,768,000	8,752,574
Walt Disney Co. (The)
1.62%, 4/21/2020(b)(c)		14,421,000	14,369,150
TOTAL COMMERCIAL PAPER (Cost $104,324,845)			104,320,999

	Shares
INVESTMENT COMPANIES - 0.0%(d)
JP Morgan U.S. Government Money Market Fund, Agency Shares 1.41% (e) (Cost $80,397)		80,397	80,397
TOTAL SHORT-TERM INVESTMENTS (Cost $104,405,242)			104,401,396
Total Investments - 99.7% (Cost $867,308,692)			1,318,255,177
Other Assets Less Liabilities - 0.3%			4,157,221
Net Assets - 100.0%			1,322,412,398

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Gold Fund

Consolidated Schedule of Investments

January 31, 2020 (unaudited)

*	Non-income producing security.
(a)	Affiliated company as defined under the Investment Company Act of 1940.
(b)	Securities exempt from registration under Rule 144A or section 4(a)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.
(c)	The rate shown was the current yield as of January 31, 2020.
(d)	Represents less than 0.05% of net assets.
(e)	Represents 7-day effective yield as of January 31, 2020.

Abbreviations
ADR	American Depositary Receipt
CVR	Contingent Value Right

Industry Diversification for Portfolio Holdings	Percent of Net Assets
Commodities		21.5	%
Metals & Mining		70.3
Short-Term Investments		7.9
Total Investments		99.7	%

Affiliated Securities

Security Description	Shares at January 31, 2020		Market Value October 31, 2019		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation/ (Depreciation)		Market Value January 31, 2020		Dividend/ Interest Income		Capital Gain Distributions
Dundee Precious Metals, Inc.*		9,400,440	$	32,628,136	$	128,048	$	-	$	-	$	10,644,669	$	43,400,853	$	-	$	-
Total			$	32,628,136	$	128,048	$	-	$	-	$	10,644,669	$	43,400,853	$	-	$	-

* Non-income producing security.

See Notes to Consolidated Schedule of Investments. (Continued)

First Eagle Global Income Builder Fund
Schedule of Investments
January 31, 2020 (unaudited)

Investments	Shares		Value ($)
COMMON STOCKS - 55.3%
Belgium - 1.7%
Groupe Bruxelles Lambert SA		254,403		25,565,914
Brazil - 0.3%
Cielo SA		2,260,784		3,732,252
Canada - 3.4%
Agnico Eagle Mines Ltd.		111,619		6,899,225
Franco-Nevada Corp.		58,524		6,652,384
Imperial Oil Ltd.		144,190		3,418,983
Nutrien Ltd.		251,917		10,754,337
Power Corp. of Canada		576,558		14,385,632
Wheaton Precious Metals Corp.		255,902		7,536,314
				49,646,875
Chile - 0.8%
Cia Cervecerias Unidas SA, ADR		665,268		11,855,076
Quinenco SA		200,388		345,414
				12,200,490
Denmark - 0.3%
ISS A/S		202,239		4,913,478
France - 4.5%
Cie de Saint-Gobain		105,671		3,986,794
Danone SA		317,027		25,369,918
Legrand SA		46,287		3,703,503
LVMH Moet Hennessy Louis Vuitton SE		1,743		759,028
Rexel SA		479,094		5,730,974
Sanofi		151,208		14,582,262
Sodexo SA		100,677		10,541,371
Wendel SA		15,480		2,065,271
				66,739,121
Germany - 1.0%
FUCHS PETROLUB SE (Preference)		113,186		5,016,253
HeidelbergCement AG		59,518		4,013,967
Henkel AG & Co. KGaA (Preference)		31,033		3,156,135
Telefonica Deutschland Holding AG		724,271		2,195,290
				14,381,645
Hong Kong - 4.0%
CK Asset Holdings Ltd.		1,720,500		10,992,194
Great Eagle Holdings Ltd.		1,749,774		5,335,011
Guoco Group Ltd.		67,700		1,145,787
Hongkong Land Holdings Ltd.		1,023,300		5,431,632
Hysan Development Co. Ltd.		1,193,083		4,453,748
Jardine Matheson Holdings Ltd.		416,800		23,233,250
Mandarin Oriental International Ltd.		4,571,800		7,704,973
				58,296,595
Ireland - 0.2%
CRH plc		64,820		2,440,847
Japan - 4.9%
FANUC Corp.		77,700		14,151,501
Hoya Corp.		15,600		1,493,005
KDDI Corp.		571,400		17,267,182
Komatsu Ltd.		200,900		4,442,107
Mitsubishi Electric Corp.		461,100		6,393,222
MS&AD Insurance Group Holdings, Inc.		24,300		807,068
NTT DOCOMO, Inc.		273,500		7,770,792
Secom Co. Ltd.		148,400		13,022,495
Sompo Holdings, Inc.		188,800		7,054,291
				72,401,663
Malaysia - 0.1%
British American Tobacco Malaysia Bhd.		595,600		1,712,096
Mexico - 0.4%
Fresnillo plc		646,614		5,648,250
Netherlands - 0.4%
HAL Trust		37,419		5,977,378
Norway - 0.9%
Orkla ASA		1,407,510		13,587,807
Singapore - 0.4%
ComfortDelGro Corp. Ltd.		3,504,000		5,542,763
UOL Group Ltd.		2,900		16,846
				5,559,609
South Korea - 1.8%
Kia Motors Corp.		136,619		4,646,799
KT&G Corp.		234,788		18,657,124
Samsung Electronics Co. Ltd. (Preference)		90,520		3,538,498
				26,842,421
Spain - 0.0%(a)
Zardoya Otis SA		33,802		254,687
Sweden - 1.5%
Industrivarden AB, Class C		157,368		3,709,415
Investor AB, Class A		200,268		10,922,000
Svenska Handelsbanken AB, Class A		692,640		6,785,940
				21,417,355
Switzerland - 2.7%
Cie Financiere Richemont SA (Registered)		135,025		9,805,890
Nestle SA (Registered)		272,880		30,096,673
				39,902,563
Taiwan - 0.5%
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		147,810		7,972,871

See Notes to Schedule of Investments. (Continued)

First Eagle Global Income Builder Fund

Schedule of Investments

January 31, 2020 (unaudited)

Investments	Shares		Value ($)
Thailand - 0.8%
Bangkok Bank PCL, NVDR		1,585,400		7,273,625
Thai Beverage PCL		7,735,100		4,489,646
				11,763,271
Turkey - 0.2%
Coca-Cola Icecek A/S		466,883		3,613,723
United Kingdom - 8.1%
Berkeley Group Holdings plc		156,618		10,837,057
British American Tobacco plc		747,449		32,958,711
BT Group plc		639,505		1,358,915
Diageo plc		109,223		4,319,018
Domino's Pizza Group plc		2,184,990		8,898,995
GlaxoSmithKline plc		634,898		14,907,041
Hiscox Ltd.		303,226		5,246,072
Linde plc		24,003		4,888,889
Linde plc		27,686		5,623,857
Lloyds Banking Group plc		17,348,713		12,951,429
Unilever NV		221,199		12,907,453
WPP plc		351,532		4,370,793
				119,268,230
United States - 16.4%
3M Co.		66,330		10,523,918
American Express Co.		12,229		1,588,180
Analog Devices, Inc.		27,536		3,022,076
Anthem, Inc.		26,602		7,056,979
Bank of New York Mellon Corp. (The)		203,192		9,098,938
CH Robinson Worldwide, Inc.		117,965		8,519,432
Colgate-Palmolive Co.		255,488		18,849,905
Cummins, Inc.		20,160		3,224,995
Deere & Co.		38,263		6,067,747
Exxon Mobil Corp.		449,467		27,920,890
H&R Block, Inc.		106,824		2,478,317
Kraft Heinz Co. (The)		105,056		3,067,635
Microsoft Corp.		29,345		4,995,399
Omnicom Group, Inc.		115,238		8,678,574
Oracle Corp.		195,504		10,254,185
Philip Morris International, Inc.		236,589		19,565,910
Royal Gold, Inc.		38,328		4,419,985
Schlumberger Ltd.		415,029		13,907,622
Texas Instruments, Inc.		74,385		8,974,550
Tiffany & Co.		27,806		3,726,560
Travelers Cos., Inc. (The)		65,660		8,642,169
Truist Financial Corp.		247,144		12,745,216
UGI Corp.		70,099		2,915,417
Union Pacific Corp.		36,716		6,587,585
US Bancorp		97,344		5,180,648
Wells Fargo & Co.		255,264		11,982,092
Weyerhaeuser Co., REIT		620,994		17,977,776
				241,972,700
TOTAL COMMON STOCKS (Cost $742,861,000)				815,811,841
		Principal Amount ($)
CORPORATE BONDS - 18.5%
Australia - 0.2%
Nufarm Australia Ltd.
5.75%, 4/30/2026(b)		2,633,000		2,554,010
Germany - 0.5%
Fresenius Medical Care US Finance, Inc.
5.75%, 2/15/2021(b)		2,494,000		2,583,915
IHO Verwaltungs GmbH
4.75%, 9/15/2026(b)(c)		3,879,000		4,005,068
6.00%, 5/15/2027(b)(c)		1,336,632		1,420,171
				8,009,154
Netherlands - 1.7%
NXP BV
4.13%, 6/1/2021(b)		2,953,000		3,033,572
4.63%, 6/1/2023(b)		4,847,000		5,229,825
Shell International Finance BV
4.38%, 3/25/2020		7,564,000		7,593,651
2.13%, 5/11/2020		4,211,000		4,216,039
2.25%, 11/10/2020		4,824,000		4,842,634
				24,915,721
United Kingdom - 0.3%
Ashtead Capital, Inc.
5.25%, 8/1/2026(b)		378,000		402,570
Lloyds Banking Group plc
3.00%, 1/11/2022		1,250,000		1,275,000
(ICE LIBOR USD 3 Month + 0.81%), 2.91%, 11/7/2023(d)		2,090,000		2,133,415
				3,810,985
United States - 15.8%
AbbVie, Inc.
(ICE LIBOR USD 3 Month + 0.35%), 2.24%, 5/21/2021(b)(d)		2,699,000		2,705,251
2.15%, 11/19/2021(b)		5,622,000		5,658,539
(ICE LIBOR USD 3 Month + 0.46%), 2.35%, 11/19/2021(b)(d)		2,249,000		2,256,336
ACCO Brands Corp.
5.25%, 12/15/2024(b)		6,882,000		7,122,870
Aircastle Ltd.
7.63%, 4/15/2020		2,525,000		2,552,417
5.50%, 2/15/2022		4,919,000		5,242,157
American Axle & Manufacturing, Inc.
6.63%, 10/15/2022		3,493,000		3,536,662
American Express Credit Corp.
2.25%, 5/5/2021		9,653,000		9,729,409

See Notes to Schedule of Investments. (Continued)

First Eagle Global Income Builder Fund

Schedule of Investments

January 31, 2020 (unaudited)

Investments	Principal Amount ($)		Value ($)
American Tower Corp.
REIT, 2.40%, 3/15/2025		115,000		116,901
AMN Healthcare, Inc.
4.63%, 10/1/2027(b)		1,109,000		1,120,090
Andeavor Logistics LP
3.50%, 12/1/2022		111,000		113,529
Apple, Inc.
1.80%, 5/11/2020		8,681,000		8,685,508
Aramark Services, Inc.
5.00%, 4/1/2025(b)		1,541,000		1,605,368
4.75%, 6/1/2026		1,076,000		1,119,040
5.00%, 2/1/2028(b)		194,000		203,215
Berry Global, Inc.
5.50%, 5/15/2022		1,145,000		1,153,587
Block Financial LLC
4.13%, 10/1/2020		2,474,000		2,502,651
BWX Technologies, Inc.
5.38%, 7/15/2026(b)		704,000		746,240
CCO Holdings LLC
5.25%, 9/30/2022		1,459,000		1,473,867
Centene Corp.
4.75%, 5/15/2022		2,036,000		2,071,706
4.75%, 1/15/2025		5,199,000		5,372,283
4.25%, 12/15/2027(b)		1,355,000		1,415,975
4.63%, 12/15/2029(b)		684,000		736,189
CenturyLink, Inc.
Series S, 6.45%, 6/15/2021		1,331,000		1,396,884
Charles River Laboratories International, Inc.
5.50%, 4/1/2026(b)		350,000		372,312
Charter Communications Operating LLC
3.58%, 7/23/2020		11,900,000		11,970,256
4.46%, 7/23/2022		2,306,000		2,436,942
4.91%, 7/23/2025		2,072,000		2,318,904
CITGO Petroleum Corp.
6.25%, 8/15/2022(b)		13,847,000		14,002,973
CNH Industrial Capital LLC
4.38%, 11/6/2020		687,000		698,851
3.88%, 10/15/2021		3,225,000		3,318,686
CommScope, Inc.
5.50%, 3/1/2024(b)		563,000		578,483
Crown Americas LLC
4.50%, 1/15/2023		3,626,000		3,812,494
CVS Health Corp.
(ICE LIBOR USD 3 Month + 0.72%), 2.61%, 3/9/2021(d)		963,000		968,767
DCP Midstream Operating LP
5.35%, 3/15/2020(b)		12,790,000		12,829,969
4.75%, 9/30/2021(b)		4,084,000		4,180,995
6.45%, 11/3/2036(b)		1,545,000		1,622,250
Dell International LLC
4.42%, 6/15/2021(b)		4,220,000		4,348,922
6.02%, 6/15/2026(b)		3,103,000		3,624,548
Diamond Offshore Drilling, Inc.
7.88%, 8/15/2025		1,619,000		1,321,509
Dollar Tree, Inc.
(ICE LIBOR USD 3 Month + 0.70%), 2.54%, 4/17/2020(d)		32,000		32,004
3.70%, 5/15/2023		1,344,000		1,417,466
DuPont de Nemours, Inc.
3.77%, 11/15/2020		9,372,000		9,511,795
EMC Corp.
2.65%, 6/1/2020		1,043,000		1,043,000
Energizer Holdings, Inc.
5.50%, 6/15/2025(b)		1,092,000		1,127,490
6.38%, 7/15/2026(b)		2,643,000		2,814,927
EW Scripps Co. (The)
5.13%, 5/15/2025(b)		3,870,000		3,966,750
Foot Locker, Inc.
8.50%, 1/15/2022		2,494,000		2,749,635
GameStop Corp.
6.75%, 3/15/2021(b)		1,363,000		1,327,221
HCA, Inc.
4.50%, 2/15/2027		2,747,000		3,017,534
John Deere Capital Corp.
2.35%, 1/8/2021		2,561,000		2,577,449
KFC Holding Co.
5.00%, 6/1/2024(b)		600,000		617,250
Lamb Weston Holdings, Inc.
4.63%, 11/1/2024(b)		4,015,000		4,215,750
4.88%, 11/1/2026(b)		803,000		846,663
Meredith Corp.
6.88%, 2/1/2026		1,716,000		1,765,944
Nielsen Finance LLC
4.50%, 10/1/2020		164,000		163,986
NortonLifeLock, Inc.
4.20%, 9/15/2020		5,214,000		5,261,497
3.95%, 6/15/2022		1,020,000		1,048,117
Philip Morris International, Inc.
2.00%, 2/21/2020		408,000		408,033
Pilgrim's Pride Corp.
5.75%, 3/15/2025(b)		3,300,000		3,390,750
5.88%, 9/30/2027(b)		3,343,000		3,545,920
Plantronics, Inc.
5.50%, 5/31/2023(b)		3,656,000		3,528,113
Spectrum Brands, Inc.
5.75%, 7/15/2025		1,520,000		1,578,900
Sprint Communications, Inc.
6.00%, 11/15/2022		1,800,000		1,858,500
Taylor Morrison Communities, Inc.
5.88%, 4/15/2023(b)		3,107,000		3,347,793
TEGNA, Inc.
5.13%, 7/15/2020		2,388,000		2,389,194
Teleflex, Inc.
4.63%, 11/15/2027		824,000		867,260
Truist Financial Corp.

See Notes to Schedule of Investments. (Continued)

First Eagle Global Income Builder Fund

Schedule of Investments

January 31, 2020 (unaudited)

Investments	Principal Amount ($)		Value ($)
Series N, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.00%), 4.80%, 9/1/2024(d)(e)		2,170,000		2,237,639
UnitedHealth Group, Inc.
1.95%, 10/15/2020		2,092,000		2,096,749
Valvoline, Inc.
4.38%, 8/15/2025		979,000		1,003,475
Vulcan Materials Co.
(ICE LIBOR USD 3 Month + 0.65%), 2.56%, 3/1/2021(d)		3,834,000		3,845,745
4.50%, 4/1/2025		3,786,000		4,181,109
Wachovia Capital Trust III
(ICE LIBOR USD 3 Month + 0.93%, 5.57% Floor), 5.57%, 3/9/2020(d)(e)		6,773,000		6,883,061
WESCO Distribution, Inc.
5.38%, 12/15/2021		4,695,000		4,718,475
5.38%, 6/15/2024		2,693,000		2,780,523
Western Digital Corp.
4.75%, 2/15/2026		4,523,000		4,828,303
				234,037,555
TOTAL CORPORATE BONDS (COST $266,895,362)				273,327,425
U.S. TREASURY OBLIGATIONS - 8.6%
U.S. Treasury Notes
1.63%, 6/30/2020(f)		11,550,000		11,551,805
2.63%, 7/31/2020(f)		18,950,000		19,046,230
1.13%, 6/30/2021(f)		19,405,000		19,325,409
2.13%, 6/30/2021(f)		7,135,000		7,205,235
2.13%, 6/30/2022(f)(g)		22,588,000		23,023,878
2.63%, 6/30/2023(f)		22,184,700		23,157,014
2.50%, 1/31/2024(f)(g)		22,182,900		23,201,061
				126,510,632
TOTAL U.S. TREASURY OBLIGATIONS (Cost $125,247,933)				126,510,632

	Ounces
COMMODITIES - 6.4%
Gold bullion* (Cost $74,192,280)	59,489	94,384,598

		Principal
		Amount ($)
FOREIGN GOVERNMENT SECURITIES - 1.5%
Indonesia - 0.1%
Indonesia Treasury Bond
8.25%, 7/15/2021	IDR	24,166,000,000	1,840,916
Malaysia - 0.2%
Malaysia Government Bond
3.42%, 8/15/2022	MYR	14,972,000	3,700,458
Mexico - 0.3%
Mexico Government Bond
Series M, 8.00%, 12/7/2023	MXN	68,770,000	3,808,618
Peru - 0.1%
Republic of Peru
8.20%, 8/12/2026(b)	PEN	5,374,000	2,037,965
Poland - 0.3%
Republic of Poland
2.50%, 4/25/2024	PLN	13,939,000	3,702,020
Singapore - 0.5%
Singapore Government Bond
3.25%, 9/1/2020	SGD	1,568,000	1,160,122
2.25%, 6/1/2021	SGD	8,422,000	6,236,053
			7,396,175

TOTAL FOREIGN GOVERNMENT SECURITIES (Cost $22,093,494)		22,486,152
LOAN ASSIGNMENTS - 0.9%
United States - 0.9%
BI-LO Holding Finance LLC, First Lien Term Loan B
(ICE LIBOR USD 3 Month + 8.00%), 9.88%, 5/15/2024‡(d)	9,762,637	8,967,665
Osum Production Corp., Term Loan
(ICE LIBOR USD 3 Month + 9.50%), 11.44%, 7/31/2022‡(d)	5,053,031	4,648,789
		13,616,454
TOTAL LOAN ASSIGNMENTS (Cost $14,441,286)		13,616,454
	Shares
CLOSED END FUNDS - 0.7%
United Kingdom - 0.7%
Caledonia Investments plc (Cost $8,309,362)	233,913	9,475,931

See Notes to Schedule of Investments. (Continued)

First Eagle Global Income Builder Fund
Schedule of Investments
January 31, 2020 (unaudited)

Investments	Shares		Value ($)
PREFERRED STOCKS - 0.6%
United States - 0.6%
Bank of New York Mellon Corp. (The) 5.20%, 03/20/20(e)		98,175		2,554,514
Charles Schwab Corp. (The), Series C 6.00%, 12/01/20(e)		8,950		237,712
General American Investors Co., Inc., Series B 5.95%, 03/06/20(e)		4,712		130,946
MetLife, Inc., Series A(ICE LIBOR USD 3 Month + 1.00%, 4.00% Floor), 4.00%, 03/06/20(d)(e)		67,936		1,695,683
US Bancorp, Series F(ICE LIBOR USD 3 Month + 4.47%), 6.50%, 01/15/22(d)(e)		73,025		2,009,648
US Bancorp, Series B(ICE LIBOR USD 3 Month + 0.60%), 3.50%, 03/06/20(d)(e)		89,375		1,976,975
TOTAL PREFERRED STOCKS (COST $8,318,150)				8,605,478

	Principal Amount ($)
SHORT-TERM INVESTMENTS - 7.0%
COMMERCIAL PAPER - 6.0%
AutoZone, Inc.
1.64%, 2/3/2020(b)(f)		4,048,000	4,047,435
Avery Dennison Corp.
1.68%, 2/3/2020(f)		6,477,000	6,476,082
CenterPoint Energy, Inc.
1.67%, 2/3/2020(f)		7,286,000	7,284,998
Hitachi International Treasury Ltd.
1.71%, 2/3/2020(f)		16,192,000	16,189,720
MetLife Short Term Funding LLC
1.80%, 2/3/2020(b)(f)		9,146,000	9,144,689
1.80%, 2/13/2020(b)(f)		9,146,000	9,140,650
Molson Coors Beverage Co.
1.85%, 2/3/2020(f)		4,048,000	4,047,379
Province of Quebec Canada
1.71%, 2/19/2020(b)(f)		9,732,000	9,723,782
Unilever Capital Corp.
1.72%, 2/3/2020(b)(f)		9,146,000	9,144,819
1.73%, 2/14/2020(b)(f)		13,721,000	13,712,729
TOTAL COMMERCIAL PAPER (Cost $88,914,252)			88,912,283
U.S. TREASURY OBLIGATIONS - 1.0%
U.S. Treasury Bills
1.52%, 2/6/2020(f) (Cost $14,996,834)		15,000,000	14,998,172

	Shares
INVESTMENT COMPANIES - 0.0%(a)
JP Morgan U.S. Government Money Market Fund, Agency Shares 1.41% (h) (Cost $18,593)		18,593	18,593
TOTAL SHORT-TERM INVESTMENTS (Cost $103,929,679)			103,929,048
Total Investments - 99.5% (Cost $1,366,288,546)			1,468,147,559
Other Assets Less Liabilities - 0.5%			7,700,862
Net Assets - 100.0%			1,475,848,421

See Notes to Schedule of Investments. (Continued)

First Eagle Global Income Builder Fund
Schedule of Investments
January 31, 2020 (unaudited)

*	Non-income producing security.
‡	Value determined using significant unobservable inputs.
(a)	Represents less than 0.05% of net assets.
(b)	Securities exempt from registration under Rule 144A or section 4(a)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.
(c)	Payment in-kind security.
(d)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of January 31, 2020.
(e)	Perpetual security. The rate reflected was the rate in effect on January 31, 2020. The maturity date reflects the next call date.
(f)	The rate shown was the current yield as of January 31, 2020.
(g)	All or a portion of the security pledged as collateral.
(h)	Represents 7-day effective yield as of January 31, 2020.

See Notes to Schedule of Investments. (Continued)

First Eagle Global Income Builder Fund
Schedule of Investments
January 31, 2020 (unaudited)

Forward Foreign Currency Exchange Contracts outstanding as of January 31, 2020 

Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
EUR	1,457,000	USD	1,611,806	Goldman Sachs	2/12/2020	$	4,860
JPY	368,988,000	USD	3,376,599	Goldman Sachs	2/12/2020		30,364
USD	3,465,164	JPY	368,988,000	Goldman Sachs	2/12/2020		58,201
EUR	4,818,000	USD	5,334,899	JPMorgan Chase Bank	3/11/2020		20,173
JPY	116,148,000	USD	1,064,312	JPMorgan Chase Bank	3/11/2020		9,648
USD	8,850,729	EUR	7,933,000	JPMorgan Chase Bank	3/11/2020		33,422
USD	7,938,246	EUR	7,101,000	UBS AG	4/15/2020		27,949
USD	4,916,918	JPY	529,439,000	UBS AG	4/15/2020		11,340
USD	9,003,318	EUR	8,039,000	HSBC Bank plc	5/13/2020		33,812
Total unrealized appreciation							229,769
USD	1,612,134	EUR	1,457,000	Goldman Sachs	2/12/2020		(4,532	)
USD	3,020,073	GBP	2,416,000	Goldman Sachs	2/12/2020		(170,917	)
USD	3,019,874	GBP	2,349,000	JPMorgan Chase Bank	3/11/2020		(84,926	)
USD	3,361,719	JPY	364,365,000	JPMorgan Chase Bank	3/11/2020		(7,372	)
USD	5,751,440	GBP	4,350,000	UBS AG	4/15/2020		(3,825	)
USD	2,366,729	GBP	1,802,000	HSBC Bank plc	5/13/2020		(19,090	)
USD	4,335,134	JPY	468,240,000	HSBC Bank plc	5/13/2020		(9,835	)
Total unrealized depreciation							(300,497	)
Net unrealized depreciation						$	(70,728	)

Abbreviations
ADR	American Depositary Receipt
EUR	Euro
GBP	British Pound
ICE	Intercontinental Exchange
IDR	Indonesian Rupiah
JPY	Japanese Yen
LIBOR	London Interbank Offered Rate
MXN	Mexican Peso
MYR	Malaysia Ringgit
NVDR	Non-Voting Depositary Receipt
PEN	Peruvian Sol
PLN	Poland New Zloty
Preference	A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.
REIT	Real Estate Investment Trust
SGD	Singapore Dollar
USD	United States Dollar

See Notes to Schedule of Investments. (Continued)

First Eagle Global Income Builder Fund
Schedule of Investments
January 31, 2020 (unaudited)

Industry Diversification for Portfolio Holdings	Percent of Net Assets
Aerospace & Defense		0.1	%
Air Freight & Logistics		0.6
Auto Components		0.6
Automobiles		0.3
Banks		5.0
Beverages		1.6
Biotechnology		0.7
Building Products		0.3
Capital Markets		0.8
Chemicals		2.7
Commercial Services & Supplies		1.9
Commodities		6.4
Communications Equipment		0.3
Construction Materials		1.0
Consumer Finance		1.0
Containers & Packaging		0.4
Diversified Consumer Services		0.2
Diversified Financial Services		5.2
Diversified Telecommunication Services		0.5
Electrical Equipment		0.6
Energy Equipment & Services		1.0
Equity Real Estate Investment Trusts (REITs)		1.2
Food & Staples Retailing		0.6
Food Products		5.6
Foreign Government Securities		1.5
Gas Utilities		0.2
Health Care Equipment & Supplies		0.2
Health Care Providers & Services		1.7
Hotels, Restaurants & Leisure		1.8
Household Durables		0.9
Household Products		1.9
Industrial Conglomerates		2.4
Insurance		2.6
IT Services		0.3
Life Sciences Tools & Services		0.0	*
Machinery		2.2
Media		2.6
Metals & Mining		2.2
Multiline Retail		0.1
Oil, Gas & Consumable Fuels		4.6
Personal Products		0.9
Pharmaceuticals		2.0
Professional Services		0.1
Real Estate Management & Development		1.8
Road & Rail		0.8
Semiconductors & Semiconductor Equipment		1.9
Software		1.4
Specialty Retail		0.6
Technology Hardware, Storage & Peripherals		1.7
Textiles, Apparel & Luxury Goods		0.8
Tobacco		4.9
Trading Companies & Distributors		1.4
U.S. Treasury Obligations		8.6
Wireless Telecommunication Services		1.8
Short-Term Investments		7.0
Total Investments		99.5	%

* Less than 0.05%

See Notes to Schedule of Investments. (Continued)

First Eagle High Yield Fund
Schedule of Investments
January 31, 2020 (unaudited)

Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 83.3%
Australia - 0.6%
Nufarm Australia Ltd.
5.75%, 4/30/2026(a)		1,721,000		1,669,370
Canada - 5.1%
Clearwater Seafoods, Inc.
6.88%, 5/1/2025(a)		1,876,000		1,954,173
Kinross Gold Corp.
4.50%, 7/15/2027		1,868,000		1,987,739
Open Text Corp.
5.63%, 1/15/2023(a)		5,902,000		5,973,296
5.88%, 6/1/2026(a)		94,000		99,288
Precision Drilling Corp.
7.75%, 12/15/2023		2,068,000		2,035,263
Ritchie Bros Auctioneers, Inc.
5.38%, 1/15/2025(a)		942,000		978,502
				13,028,261
Germany - 2.7%
IHO Verwaltungs GmbH
4.75%, 9/15/2026(a)(b)		3,730,000		3,851,225
6.00%, 5/15/2027(a)(b)		1,280,244		1,360,259
Mercer International, Inc.
7.38%, 1/15/2025		1,459,000		1,543,506
				6,754,990
Singapore - 0.5%
Avation Capital SA
6.50%, 5/15/2021(a)		1,216,000		1,255,520
South Korea - 0.9%
MagnaChip Semiconductor Corp.
6.63%, 7/15/2021(c)		2,202,000		2,202,000
United Kingdom - 1.7%
EnQuest plc
7.00%, 4/15/2022(b)(d)		4,898,957		4,274,340
United States - 71.8%
ACCO Brands Corp.
5.25%, 12/15/2024(a)		3,948,000		4,086,180
American Axle & Manufacturing, Inc.
6.63%, 10/15/2022		2,682,000		2,715,525
AMN Healthcare, Inc.
5.13%, 10/1/2024(a)		6,161,000		6,353,531
Antero Resources Corp.
5.63%, 6/1/2023		6,341,000		4,565,520
Aramark Services, Inc.
5.00%, 4/1/2025(a)		623,000		649,023
4.75%, 6/1/2026		1,556,000		1,618,240
5.00%, 2/1/2028(a)		57,000		59,707
B&G Foods, Inc.
5.25%, 4/1/2025		1,152,000		1,176,054
Berry Global, Inc.
5.50%, 5/15/2022		2,507,000		2,525,803
BWX Technologies, Inc.
5.38%, 7/15/2026(a)		168,000		178,080
California Resources Corp.
8.00%, 12/15/2022(a)		4,244,000		1,442,960
Calumet Specialty Products Partners LP
11.00%, 4/15/2025(a)		1,873,000		2,069,702
CCO Holdings LLC
5.25%, 9/30/2022		427,000		431,351
Centene Corp.
4.75%, 5/15/2022		3,871,000		3,938,888
5.38%, 8/15/2026(a)		279,000		296,089
4.63%, 12/15/2029(a)		1,228,000		1,321,696
CenturyLink, Inc.
Series S, 6.45%, 6/15/2021		1,984,000		2,082,208
4.00%, 2/15/2027(a)		61,000		61,279
Charles River Laboratories International, Inc.
5.50%, 4/1/2026(a)		306,000		325,507
4.25%, 5/1/2028(a)		632,000		641,215
Charter Communications Operating LLC
4.91%, 7/23/2025		465,000		520,410
Chemours Co. (The)
6.63%, 5/15/2023		2,202,000		2,167,715
CITGO Petroleum Corp.
6.25%, 8/15/2022(a)		6,799,000		6,875,584
CNH Industrial Capital LLC
3.88%, 10/15/2021		1,559,000		1,604,289
CommScope, Inc.
5.50%, 3/1/2024(a)		1,371,000		1,408,703
Cornerstone Chemical Co.
6.75%, 8/15/2024(a)		1,400,000		1,347,094
Crown Americas LLC
4.50%, 1/15/2023		3,692,000		3,881,889
4.75%, 2/1/2026		1,844,000		1,915,455
Dana, Inc.
5.38%, 11/15/2027		1,255,000		1,297,356
DCP Midstream Operating LP
5.35%, 3/15/2020(a)		1,282,000		1,286,006
4.75%, 9/30/2021(a)		5,186,000		5,309,168
Dell International LLC
7.13%, 6/15/2024(a)		4,740,000		4,982,925
Diamond Offshore Drilling, Inc.
7.88%, 8/15/2025		982,000		801,558
EMC Corp.
2.65%, 6/1/2020		1,124,000		1,124,000
Energizer Holdings, Inc.
5.50%, 6/15/2025(a)		184,000		189,980
6.38%, 7/15/2026(a)		2,887,000		3,074,799
EW Scripps Co. (The)
5.13%, 5/15/2025(a)		1,578,000		1,617,450
Fair Isaac Corp.
4.00%, 6/15/2028(a)		931,000		947,292
FirstCash, Inc.
5.38%, 6/1/2024(a)		1,596,000		1,645,875
GameStop Corp.
6.75%, 3/15/2021(a)		2,777,000		2,704,104
Genesis Energy LP
6.00%, 5/15/2023		3,702,000		3,719,399

See Notes to Schedule of Investments. (Continued)

First Eagle High Yield Fund
Schedule of Investments
January 31, 2020 (unaudited)

Investments	Principal Amount ($)		Value ($)
6.50%, 10/1/2025		1,421,000		1,392,580
GLP Capital LP
REIT, 5.25%, 6/1/2025		3,627,000		4,062,059
HCA Healthcare, Inc.
6.25%, 2/15/2021		5,931,000		6,153,412
Hill-Rom Holdings, Inc.
5.00%, 2/15/2025(a)		2,720,000		2,811,800
4.38%, 9/15/2027(a)		306,000		312,290
IQVIA, Inc.
5.00%, 10/15/2026(a)		800,000		837,000
5.00%, 5/15/2027(a)		1,075,000		1,134,168
JBS USA LUX SA
6.75%, 2/15/2028(a)		1,993,000		2,207,267
Kaiser Aluminum Corp.
4.63%, 3/1/2028(a)		1,312,000		1,338,240
KFC Holding Co.
5.00%, 6/1/2024(a)		3,845,000		3,955,544
5.25%, 6/1/2026(a)		600,000		628,500
Koppers, Inc.
6.00%, 2/15/2025(a)		1,389,000		1,423,030
Ladder Capital Finance Holdings LLLP
REIT, 5.25%, 3/15/2022(a)		620,000		637,050
Lamb Weston Holdings, Inc.
4.63%, 11/1/2024(a)		1,939,000		2,035,950
4.88%, 11/1/2026(a)		388,000		409,098
Lennar Corp.
6.63%, 5/1/2020		4,105,000		4,140,919
Men's Wearhouse, Inc. (The)
7.00%, 7/1/2022		2,459,000		2,422,115
Meredith Corp.
6.88%, 2/1/2026		3,382,000		3,480,433
MGIC Investment Corp.
5.75%, 8/15/2023		470,000		519,350
Moog, Inc.
4.25%, 12/15/2027(a)		155,000		158,898
NGL Energy Partners LP
7.50%, 11/1/2023		2,936,000		2,927,779
Nielsen Finance LLC
4.50%, 10/1/2020		129,000		128,989
NortonLifeLock, Inc.
4.20%, 9/15/2020		3,442,000		3,473,355
3.95%, 6/15/2022		459,000		471,653
Performance Food Group, Inc.
5.50%, 10/15/2027(a)		611,000		643,077
Pilgrim's Pride Corp.
5.75%, 3/15/2025(a)		1,021,000		1,049,077
5.88%, 9/30/2027(a)		638,000		676,727
Plantronics, Inc.
5.50%, 5/31/2023(a)		1,696,000		1,636,674
Post Holdings, Inc.
5.50%, 3/1/2025(a)		430,000		445,407
Radian Group, Inc.
4.50%, 10/1/2024		645,000		687,054
Radiology Partners, Inc.
9.25%, 2/1/2028(a)		1,826,000		1,908,170
SBA Communications Corp.
REIT, 4.88%, 9/1/2024		2,928,000		3,026,820
REIT, 3.88%, 2/15/2027(a)		609,000		617,374
Sealed Air Corp.
4.88%, 12/1/2022(a)		4,173,000		4,392,082
4.00%, 12/1/2027(a)		1,252,000		1,258,260
Shea Homes LP
5.88%, 4/1/2023(a)		4,705,000		4,787,337
Spectrum Brands, Inc.
5.75%, 7/15/2025		2,968,000		3,083,010
5.00%, 10/1/2029(a)		611,000		634,924
Sprint Communications, Inc.
7.00%, 8/15/2020		2,000,000		2,035,400
6.00%, 11/15/2022		1,026,000		1,059,345
Taylor Morrison Communities, Inc.
5.88%, 4/15/2023(a)		3,228,000		3,478,170
5.75%, 1/15/2028(a)		918,000		1,005,210
TEGNA, Inc.
5.13%, 7/15/2020		1,808,000		1,808,904
Teleflex, Inc.
4.63%, 11/15/2027		1,005,000		1,057,763
Ultra Resources, Inc.
7.13%, 4/15/2025(a)		3,868,000		261,090
Valvoline, Inc.
5.50%, 7/15/2024		233,000		241,446
4.38%, 8/15/2025		3,874,000		3,970,850
VICI Properties LP
REIT, 3.50%, 2/15/2025(a)		305,000		310,338
REIT, 3.75%, 2/15/2027(a)		305,000		306,525
REIT, 4.13%, 8/15/2030(a)		305,000		309,575
WESCO Distribution, Inc.
5.38%, 12/15/2021		4,523,000		4,545,615
Western Digital Corp.
4.75%, 2/15/2026		1,850,000		1,974,875
WW International, Inc.
8.63%, 12/1/2025(a)		2,651,000		2,770,295
				182,002,482
TOTAL CORPORATE BONDS (COST $212,601,878)				211,186,963

LOAN ASSIGNMENTS - 5.3%
United States - 5.3%
BI-LO Holding Finance LLC, 1st Lien Term Loan B
(ICE LIBOR USD 3 Month + 8.00%), 9.88%, 5/15/2024‡(e)	4,736,415	4,350,728
BJ's Wholesale Club, Inc., Term Loan
(ICE LIBOR USD 1 Month + 2.75%), 4.43%, 2/3/2024(e)	3,127,620	3,138,973
Osum Production Corp., Term Loan

See Notes to Schedule of Investments. (Continued)

First Eagle High Yield Fund
Schedule of Investments
January 31, 2020 (unaudited)

Investments	Principal Amount ($)		Value ($)
(ICE LIBOR USD 3 Month + 9.50%), 11.44%, 7/31/2022‡(e)		6,300,700		5,796,644
				13,286,345
TOTAL LOAN ASSIGNMENTS (Cost $13,869,549)				13,286,345

	Shares
COMMON STOCKS - 3.4%
United States - 3.4%
Southeastern Grocers, Inc.*‡(f) (Cost $7,855,278)		257,973	8,526,008

	Principal Amount ($)
SHORT-TERM INVESTMENTS - 7.7%
COMMERCIAL PAPER - 7.7%
AutoZone, Inc.
1.64%, 2/3/2020(a)(g)		2,077,000	2,076,710
Avery Dennison Corp.
1.68%, 2/3/2020(g)		3,323,000	3,322,529
CenterPoint Energy, Inc.
1.67%, 2/3/2020(g)		3,739,000	3,738,486
Hitachi International Treasury Ltd.
1.71%, 2/3/2020(g)		8,308,000	8,306,830
Molson Coors Beverage Co.
1.85%, 2/3/2020(g)		2,077,000	2,076,681
TOTAL COMMERCIAL PAPER (Cost $19,522,151)			19,521,236

	Shares
INVESTMENT COMPANIES - 0.0%(h)
JP Morgan U.S. Government Money Market Fund, Agency Shares 1.41% (i) (Cost $17,137)		17,137	17,137
TOTAL SHORT-TERM INVESTMENTS (Cost $19,539,288)			19,538,373
Total Investments - 99.7% (Cost $253,865,993)			252,537,689
Other Assets Less Liabilities - 0.3%			883,795
Net Assets - 100.0%			253,421,484

*	Non-income producing security.
‡	Value determined using significant unobservable inputs.
(a)	Securities exempt from registration under Rule 144A or section 4(a)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.
(b)	Payment in-kind security.
(c)	Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future at a contingent upon predetermined trigger. The interest rate shown was the current rate as of January 31, 2020.
(d)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.
(e)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of January 31, 2020.
(f)	Security fair valued as of January 31, 2020 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2020 amounted to $8,526,008, which represents approximately 3.36% of net assets of the Fund.
(g)	The rate shown was the current yield as of January 31, 2020.
(h)	Represents less than 0.05% of net assets.
(i)	Represents 7-day effective yield as of January 31, 2020.

See Notes to Schedule of Investments. (Continued)

First Eagle High Yield Fund
Schedule of Investments
January 31, 2020 (unaudited)

Abbreviations
ICE	Intercontinental Exchange
LIBOR	London Interbank Offered Rate
REIT	Real Estate Investment Trust
USD	United States Dollar

Industry Diversification for Portfolio Holdings	Percent of Net Assets
Aerospace & Defense		0.2	%
Auto Components		3.7
Chemicals		4.3
Commercial Services & Supplies		2.9
Communications Equipment		1.2
Consumer Finance		1.1
Containers & Packaging		5.5
Distributors		0.2
Diversified Consumer Services		1.1
Diversified Telecommunication Services		1.0
Energy Equipment & Services		1.1
Equity Real Estate Investment Trusts (REITs)		3.4
Food & Staples Retailing		5.1
Food Products		4.0
Health Care Equipment & Supplies		1.6
Health Care Providers & Services		5.3
Health Care Technology		0.8
Hotels, Restaurants & Leisure		1.8
Household Durables		5.3
Household Products		2.8
Life Sciences Tools & Services		0.4
Machinery		0.6
Media		2.9
Metals & Mining		1.3
Oil, Gas & Consumable Fuels		15.7
Paper & Forest Products		0.6
Professional Services		2.5
Retail - Consumer Staples		1.3
Semiconductors & Semiconductor Equipment		0.9
Software		4.4
Specialty Retail		2.1
Technology Hardware, Storage & Peripherals		3.2
Thrifts & Mortgage Finance		0.7
Trading Companies & Distributors		1.8
Wireless Telecommunication Services		1.2
Short-Term Investments		7.7
Total Investments		99.7	%

See Notes to Schedule of Investments. (Continued)

First Eagle Fund of America
Schedule of Investments
January 31, 2020 (unaudited)

Investments	Shares		Value ($)
COMMON STOCKS - 95.2%
Aerospace & Defense - 4.4%
General Dynamics Corp.(a)		250,247		43,903,334
Biotechnology - 4.8%
Alexion Pharmaceuticals, Inc.*(a)		100,000		9,939,000
Alnylam Pharmaceuticals, Inc.*(a)		26,500		3,041,935
Halozyme Therapeutics, Inc.*(a)		1,608,675		30,532,651
Intrexon Corp.*		896,818		4,170,204
				47,683,790
Capital Markets - 7.4%
Intercontinental Exchange, Inc.(a)		266,127		26,543,507
KKR & Co., Inc., Class A(a)		1,481,580		47,262,402
				73,805,909
Chemicals - 1.9%
Sherwin-Williams Co. (The)(a)		34,800		19,383,252
Construction Materials - 4.8%
Martin Marietta Materials, Inc.(a)		180,606		47,643,863
Containers & Packaging - 6.9%
Ball Corp.(a)		935,272		67,507,933
Crown Holdings, Inc.*(a)		21,700		1,606,451
				69,114,384
Diversified Consumer Services - 6.6%
frontdoor, Inc.*(a)		803,699		34,221,503
ServiceMaster Global Holdings, Inc.*(a)		863,857		31,142,045
				65,363,548
Electrical Equipment - 0.9%
Bloom Energy Corp., Class A*		354,500		2,793,460
nVent Electric plc(a)		247,329		6,158,492
				8,951,952
Food Products - 6.7%
Post Holdings, Inc.*(a)		638,189		66,735,424
Health Care Providers & Services - 4.9%
DaVita, Inc.*(a)		93,300		7,451,871
Laboratory Corp. of America Holdings*(a)		233,600		40,973,440
				48,425,311
Hotels, Restaurants & Leisure - 12.7%
Marriott Vacations Worldwide Corp.(a)		43,700		5,254,488
Wyndham Destinations, Inc.(a)		1,588,408		77,085,440
Wyndham Hotels & Resorts, Inc.(a)		780,668		44,630,790
				126,970,718
Insurance - 3.8%
Aon plc(a)		174,389		38,409,177
Interactive Media & Services - 2.3%
Alphabet, Inc., Class A*(a)		2,100		3,008,838
Zillow Group, Inc., Class C*(a)		443,500		20,494,135
				23,502,973
Oil, Gas & Consumable Fuels - 4.1%
Marathon Petroleum Corp.(a)		744,771		40,590,020
Pharmaceuticals - 3.3%
Innoviva, Inc.*(a)		1,665,400		22,990,847
Mylan NV*(a)		304,600		6,524,532
TherapeuticsMD, Inc.*		1,324,280		2,979,630
				32,495,009
Professional Services - 4.6%
Equifax, Inc.(a)		305,916		45,856,808
Semiconductors & Semiconductor Equipment - 4.3%
Cree, Inc.*(a)		540,500		25,127,845
Entegris, Inc.(a)		341,300		17,665,688
				42,793,533
Specialty Retail - 1.4%
AutoZone, Inc.*(a)		13,100		13,859,276
Technology Hardware, Storage & Peripherals - 4.9%
HP, Inc.(a)		2,286,347		48,744,918
Trading Companies & Distributors - 4.5%
HD Supply Holdings, Inc.*(a)		692,000		28,192,080
Univar Solutions, Inc.*		753,750		16,243,312
				44,435,392
TOTAL COMMON STOCKS (Cost $752,682,145)				948,668,591

	No. of Contracts
OPTIONS PURCHASED - 0.3%
Call Options - 0.3%
Exchange Traded
Chemicals - 0.3%
Albemarle Corp. 01/15/2021 at USD 75 Notional Amount: USD 20,070,000		2,500	3,100,000
TOTAL CALL OPTIONS			3,100,000
Put Options - 0.0%(b)
Diversified Consumer Services - 0.0%(b)
ServiceMaster Global Holdings, Inc. 02/21/2020 at USD 35 Notional Amount: USD 7,210,000		2,000	130,000

See Notes to Schedule of Investments. (Continued)

First Eagle Fund of America
Schedule of Investments
January 31, 2020 (unaudited)

Investments	No. of Contracts	Value ($)
TOTAL PUT OPTIONS			130,000
TOTAL OPTIONS PURCHASED (Cost $4,507,484)			3,230,000

	Shares
SHORT-TERM INVESTMENTS - 6.7%
INVESTMENT COMPANIES - 5.6%
JP Morgan U.S. Government Money Market Fund, Agency Shares, 1.41%, (c) (Cost $56,045,831)		56,045,831	56,045,831

	Principal Amount ($)
U.S. TREASURY OBLIGATIONS - 1.1%
U.S. Treasury Bills
1.83%, 3/5/2020(d)
(Cost $9,983,408)		10,000,000	9,986,828
TOTAL SHORT-TERM INVESTMENTS (Cost $66,029,239)			66,032,659
Total Investments - 102.2% (Cost $823,218,868)			1,017,931,250
Liabilities in excess of other assets - (2.2%)			(21,634,452	)
Net Assets - 100.0%			996,296,798

*	Non-income producing security.
(a)	All or a portion of the security pledged as collateral for call options written.
(b)	Represents less than 0.05% of net assets.
(c)	Represents 7-day effective yield as of January 31, 2020.
(d)	The rate shown was the current yield as of January 31, 2020.

See Notes to Schedule of Investments. (Continued)

First Eagle Fund of America
Schedule of Investments
January 31, 2020 (unaudited)

Written Call Options Contracts as of January 31, 2020
Description	Counterparty	Number of Contracts		Notional Amount		Exercise Price		Expiration Date	Value ($)
Alexion Pharmaceuticals, Inc.	Exchange Traded		250	USD	(2,484,750)	USD	105.00	2/21/2020		(26,000	)
Alnylam Pharmaceuticals, Inc.	Exchange Traded		89	USD	(1,021,631)	USD	115.00	2/21/2020		(41,652	)
Alnylam Pharmaceuticals, Inc.	Exchange Traded		133	USD	(1,526,707)	USD	120.00	2/21/2020		(33,250	)
Alnylam Pharmaceuticals, Inc.	Exchange Traded		43	USD	(493,597)	USD	120.00	3/20/2020		(20,640	)
Alphabet, Inc.	Exchange Traded		14	USD	(2,005,892)	USD	1,410.00	2/21/2020		(86,100	)
Alphabet, Inc.	Exchange Traded		7	USD	(1,002,946)	USD	1,460.00	3/20/2020		(33,075	)
Aon plc	Exchange Traded		293	USD	(6,453,325)	USD	210.00	4/17/2020		(462,647	)
Aon plc	Exchange Traded		174	USD	(3,832,350)	USD	220.00	4/17/2020		(151,380	)
AutoZone, Inc.	Exchange Traded		59	USD	(6,241,964)	USD	1,140.00	3/20/2020		(88,500	)
AutoZone, Inc.	Exchange Traded		72	USD	(7,617,312)	USD	1,150.00	3/20/2020		(92,952	)
Ball Corp.	Exchange Traded		189	USD	(1,364,202)	USD	67.50	2/21/2020		(106,974	)
Ball Corp.	Exchange Traded		690	USD	(4,980,420)	USD	67.50	5/15/2020		(476,100	)
Ball Corp.	Exchange Traded		689	USD	(4,973,202)	USD	70.00	5/15/2020		(368,615	)
Cree, Inc.	Exchange Traded		435	USD	(2,022,315)	USD	45.00	3/20/2020		(145,725	)
Cree, Inc.	Exchange Traded		126	USD	(585,774)	USD	47.50	3/20/2020		(26,649	)
Cree, Inc.	Exchange Traded		540	USD	(2,510,460)	USD	50.00	3/20/2020		(66,960	)
Cree, Inc.	Exchange Traded		810	USD	(3,765,690)	USD	52.50	3/20/2020		(48,600	)
Crown Holdings, Inc.	Exchange Traded		217	USD	(1,606,451)	USD	75.00	4/17/2020		(79,205	)
DaVita, Inc.	Exchange Traded		286	USD	(2,284,282)	USD	72.50	4/17/2020		(263,692	)
DaVita, Inc.	Exchange Traded		647	USD	(5,167,589)	USD	75.00	4/17/2020		(475,545	)
Entegris, Inc.	Exchange Traded		921	USD	(4,767,096)	USD	45.00	2/21/2020		(722,985	)
Entegris, Inc.	Exchange Traded		1,384	USD	(7,163,584)	USD	50.00	5/15/2020		(650,480	)
Entegris, Inc.	Exchange Traded		171	USD	(885,096)	USD	55.00	3/20/2020		(19,494	)
Equifax, Inc.	Exchange Traded		202	USD	(3,027,980)	USD	135.00	2/21/2020		(321,180	)
Equifax, Inc.	Exchange Traded		744	USD	(11,152,560)	USD	140.00	4/17/2020		(1,008,120	)
Equifax, Inc.	Exchange Traded		691	USD	(10,358,090)	USD	145.00	4/17/2020		(691,000	)
Equifax, Inc.	Exchange Traded		612	USD	(9,173,880)	USD	155.00	3/20/2020		(201,960	)
frontdoor, Inc.	Exchange Traded		560	USD	(2,384,480)	USD	45.00	4/17/2020		(154,000	)
frontdoor, Inc.	Exchange Traded		1,206	USD	(5,135,148)	USD	46.00	3/20/2020		(226,125	)
frontdoor, Inc.	Exchange Traded		115	USD	(489,670)	USD	46.00	4/17/2020		(26,738	)
frontdoor, Inc.	Exchange Traded		402	USD	(1,711,716)	USD	48.00	3/20/2020		(51,255	)
General Dynamics Corp.	Exchange Traded		176	USD	(3,087,744)	USD	180.00	2/21/2020		(27,280	)
Halozyme Therapeutics, Inc.	Exchange Traded		250	USD	(474,500)	USD	19.00	2/21/2020		(15,000	)
Halozyme Therapeutics, Inc.	Exchange Traded		1,346	USD	(2,554,708)	USD	19.00	3/20/2020		(185,075	)
Halozyme Therapeutics, Inc.	Exchange Traded		540	USD	(1,024,920)	USD	19.00	6/19/2020		(112,050	)
Halozyme Therapeutics, Inc.	Exchange Traded		639	USD	(1,212,822)	USD	20.00	3/20/2020		(55,912	)
HD Supply Holdings, Inc.	Exchange Traded		656	USD	(2,672,544)	USD	40.00	3/20/2020		(136,120	)
HD Supply Holdings, Inc.	Exchange Traded		257	USD	(1,047,018)	USD	42.50	3/20/2020		(21,074	)
HP, Inc.	Exchange Traded		1,978	USD	(4,217,096)	USD	20.00	2/21/2020		(308,568	)
HP, Inc.	Exchange Traded		448	USD	(955,136)	USD	21.00	2/21/2020		(32,256	)
HP, Inc.	Exchange Traded		3,873	USD	(8,257,236)	USD	21.00	3/20/2020		(395,046	)
HP, Inc.	Exchange Traded		2,000	USD	(4,264,000)	USD	21.00	5/15/2020		(248,000	)
HP, Inc.	Exchange Traded		8,000	USD	(17,056,000)	USD	22.00	3/20/2020		(408,000	)
HP, Inc.	Exchange Traded		2,479	USD	(5,285,228)	USD	23.00	5/15/2020		(126,429	)
Innoviva, Inc.	Exchange Traded		1,977	USD	(2,729,249)	USD	12.50	3/20/2020		(312,366	)
Innoviva, Inc.	Exchange Traded		380	USD	(524,590)	USD	14.00	3/20/2020		(26,600	)
Innoviva, Inc.	Exchange Traded		3,372	USD	(4,655,046)	USD	14.00	6/19/2020		(429,930	)
Intercontinental Exchange, Inc.	Exchange Traded		1,103	USD	(11,001,322)	USD	90.00	3/20/2020		(1,147,120	)
KKR & Co., Inc.	Exchange Traded		7,334	USD	(23,395,460)	USD	29.00	3/20/2020		(1,980,180	)
KKR & Co., Inc.	Exchange Traded		1,482	USD	(4,727,580)	USD	31.00	3/20/2020		(274,170	)
KKR & Co., Inc.	Exchange Traded		741	USD	(2,363,790)	USD	32.00	3/20/2020		(85,215	)
Laboratory Corp. of America Holdings	Exchange Traded		303	USD	(5,314,620)	USD	175.00	5/15/2020		(298,455	)

See Notes to Schedule of Investments. (Continued)

First Eagle Fund of America
Schedule of Investments
January 31, 2020 (unaudited)

Description	Counterparty	Number of Contracts		Notional Amount		Exercise Price		Expiration Date	Value ($)
Marathon Petroleum Corp.	Exchange Traded		500	USD	(2,725,000)	USD	55.00	3/20/2020		(114,500	)
Marriott Vacations Worldwide Corp.	Exchange Traded		437	USD	(5,254,488)	USD	125.00	4/17/2020		(196,650	)
Martin Marietta Materials, Inc.	Exchange Traded		603	USD	(15,907,140)	USD	260.00	2/21/2020		(645,210	)
Martin Marietta Materials, Inc.	Exchange Traded		271	USD	(7,148,980)	USD	260.00	4/17/2020		(399,725	)
Martin Marietta Materials, Inc.	Exchange Traded		362	USD	(9,549,560)	USD	270.00	4/17/2020		(367,430	)
Mylan NV	Exchange Traded		1,172	USD	(2,510,424)	USD	22.50	2/21/2020		(43,364	)
Mylan NV	Exchange Traded		702	USD	(1,503,684)	USD	22.50	3/20/2020		(75,114	)
nVent Electric plc	Exchange Traded		2,473	USD	(6,157,770)	USD	25.00	2/21/2020		(234,935	)
Post Holdings, Inc.	Exchange Traded		304	USD	(3,178,928)	USD	105.00	3/20/2020		(115,520	)
Post Holdings, Inc.	Exchange Traded		97	USD	(1,014,329)	USD	110.00	3/20/2020		(16,781	)
ServiceMaster Global Holdings, Inc.	Exchange Traded		115	USD	(414,575)	USD	35.00	2/21/2020		(19,837	)
ServiceMaster Global Holdings, Inc.	Exchange Traded		1,311	USD	(4,726,155)	USD	40.00	3/20/2020		(72,105	)
ServiceMaster Global Holdings, Inc.	Exchange Traded		615	USD	(2,217,075)	USD	40.00	5/15/2020		(67,650	)
Sherwin-Williams Co. (The)	Exchange Traded		306	USD	(17,043,894)	USD	580.00	3/20/2020		(174,420	)
Sherwin-Williams Co. (The)	Exchange Traded		31	USD	(1,726,669)	USD	600.00	3/20/2020		(7,750	)
Wyndham Destinations, Inc.	Exchange Traded		1,672	USD	(8,114,216)	USD	47.50	2/21/2020		(426,360	)
Wyndham Destinations, Inc.	Exchange Traded		1,588	USD	(7,706,564)	USD	47.50	3/20/2020		(444,640	)
Wyndham Destinations, Inc.	Exchange Traded		794	USD	(3,853,282)	USD	50.00	3/20/2020		(119,100	)
Wyndham Destinations, Inc.	Exchange Traded		1,588	USD	(7,706,564)	USD	50.00	5/15/2020		(337,450	)
Wyndham Destinations, Inc.	Exchange Traded		635	USD	(3,081,655)	USD	52.50	5/15/2020		(84,455	)
Wyndham Hotels & Resorts, Inc.	Exchange Traded		1,500	USD	(8,575,500)	USD	52.50	2/21/2020		(772,500	)
Wyndham Hotels & Resorts, Inc.	Exchange Traded		2,403	USD	(13,737,951)	USD	55.00	2/21/2020		(853,065	)
Wyndham Hotels & Resorts, Inc.	Exchange Traded		781	USD	(4,464,977)	USD	57.50	2/21/2020		(117,150	)
Wyndham Hotels & Resorts, Inc.	Exchange Traded		1,171	USD	(6,694,607)	USD	62.50	5/15/2020		(149,303	)
Zillow Group, Inc.	Exchange Traded		202	USD	(933,442)	USD	35.00	2/21/2020		(234,320	)
Total Written Options Contracts (Premiums Received ($20,376,917))										(19,881,778	)

Abbreviations

USD — United States Dollar

See Notes to Schedule of Investments. (Continued)

First Eagle Fund of America
Schedule of Investments
January 31, 2020 (unaudited)

Industry Diversification for Portfolio Holdings	Percent of Net Assets
Aerospace & Defense		4.4	%
Biotechnology		4.8
Capital Markets		7.4
Chemicals		2.2
Construction Materials		4.8
Containers & Packaging		6.9
Diversified Consumer Services		6.6
Electrical Equipment		0.9
Food Products		6.7
Health Care Providers & Services		4.9
Hotels, Restaurants & Leisure		12.7
Insurance		3.8
Interactive Media & Services		2.3
Oil, Gas & Consumable Fuels		4.1
Pharmaceuticals		3.3
Professional Services		4.6
Semiconductors & Semiconductor Equipment		4.3
Specialty Retail		1.4
Technology Hardware, Storage & Peripherals		4.9
Trading Companies & Distributors		4.5
Short-Term Investments		6.7
Total Investments		102.2	%

See Notes to Schedule of Investments. (Continued)

FIRST EAGLE FUNDS

NOTES TO SCHEDULES OF INVESTMENTS (unaudited)

First Eagle Funds (the “Trust”), is an open-end management investment company registered under the Investment Company Act of 1940, as amended (“1940 Act”). The Trust consists of seven separate portfolios, First Eagle Global Fund, First Eagle Overseas Fund, First Eagle U.S. Value Fund, First Eagle Gold Fund, First Eagle Global Income Builder Fund, First Eagle High Yield Fund and First Eagle Fund of America (each individually a “Fund” or collectively the “Funds”). All the Funds are diversified mutual funds except for First Eagle Gold Fund and First Eagle Fund of America, which are non-diversified. The Trust is a Delaware statutory trust. The First Eagle Global Fund seeks long-term growth of capital by investing in a range of asset classes from markets in the United States and throughout the world. The First Eagle Overseas Fund seeks long-term growth of capital by investing primarily in equities issued by non-U.S. corporations. The First Eagle U.S. Value Fund seeks long-term growth of capital by investing, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in domestic equity and debt securities. The First Eagle Gold Fund seeks to provide investors the opportunity to participate in the investment characteristics of gold (and to a limited extent other precious metals) for a portion of their overall investment portfolio. The First Eagle Global Income Builder Fund seeks current income generation and long-term growth of capital. The First Eagle High Yield Fund seeks to provide investors with a high level of current income. The First Eagle Fund of America seeks capital appreciation by investing primarily in domestic stocks and, to a lesser extent, in debt and foreign equity securities.

The Funds offer seven share classes, Class A shares, Class C shares, Class I shares, Class R3 shares, Class R4 shares, Class R5 shares and Class R6 shares. Additionally, First Eagle Fund of America also offers Class Y shares.

Class Y on First Eagle Fund of America is closed to new investors, subject to certain limited exceptions. Additional information can be found in the Fund’s prospectus.

First Eagle Investment Management, LLC (the “Adviser”), a subsidiary of First Eagle Holdings, Inc. (“First Eagle Holdings”), manages the Funds. A controlling interest in First Eagle Holdings is owned by BCP CC Holdings L.P., a Delaware limited partnership (“BCP CC Holdings”). BCP CC Holdings GP L.L.C., a Delaware limited liability company (“BCP CC Holdings GP”), is the general partner of BCP CC Holdings and has two managing members, Blackstone Capital Partners VI L.P. (“BCP VI”) and Corsair IV Financial Services Capital Partners L.P. (“Corsair IV”). BCP VI and Corsair IV are indirectly controlled by The Blackstone Group, Inc. (“Blackstone”) and Corsair Capital LLC (“Corsair”), respectively. Investment vehicles indirectly controlled by Blackstone and Corsair and certain co-investors own a majority economic interest in First Eagle Holdings and the Adviser through BCP CC Holdings.

The following is a summary of significant accounting policies that are adhered to by the Funds. The Funds are investment companies and, accordingly, follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946—Investment Companies, which is part of U.S. generally accepted accounting principles (“GAAP”).

a)  Investments in Subsidiaries — The First Eagle Global Fund (the “Global Fund”), First Eagle Overseas Fund (the “Overseas Fund”), First Eagle U.S. Value Fund (the “U.S. Value Fund”), and First Eagle Gold Fund (the “Gold Fund”) may invest in certain precious metals through their investment in the First Eagle Global Cayman Fund, Ltd., First Eagle Overseas Cayman Fund, Ltd., First Eagle U.S. Value Cayman Fund, Ltd., and First Eagle Gold Cayman Fund, Ltd., respectively, each a wholly owned subsidiary (each referred to herein as a “Subsidiary” or collectively “the Subsidiaries”). Each Fund may invest up to 25% of its total assets in shares of its respective Subsidiary. Each Subsidiary has the ability to invest in commodities and securities consistent with the investment objective of its respective Fund. Substantially all of each Subsidiary’s assets represent physical gold bullion, and First Eagle Gold Cayman Fund, Ltd. also holds physical silver. Trading in bullion directly by the Funds presents the risk of tax consequences (e.g., a change in the Funds’ tax status subjecting the Funds to be taxed at the Fund level on all of their income if the Funds’ “non-qualifying income” exceeds 10% of the Funds’ gross income in any taxable year). Trading in bullion by the Subsidiaries generally does not present the same tax risks.

The First Eagle Global Cayman Fund, Ltd., established on October 18, 2013, is an exempted company under the laws of the Cayman Islands. The consolidated financial statements include the accounts of the First Eagle Global Fund and the First Eagle Global Cayman Fund, Ltd. All intercompany transactions and balances have been eliminated. As of January 31, 2020, the First Eagle Global Cayman Fund, Ltd. has $4,407,521,754 in net assets, representing 8.88% of the Global Fund’s net assets.

The First Eagle Overseas Cayman Fund, Ltd., established on October 18, 2013, is an exempted company under the laws of the Cayman Islands. The consolidated financial statements include the accounts of the First Eagle Overseas Fund and the First Eagle Overseas Cayman Fund, Ltd. All intercompany transactions and balances have been eliminated. As of January 31, 2020, the First Eagle Overseas Cayman Fund, Ltd. has $1,030,009,960 in net assets, representing 7.58% of the Overseas Fund’s net assets.

The First Eagle U.S. Value Cayman Fund, Ltd., established on January 24, 2012, is an exempted company under the laws of the Cayman Islands. The consolidated financial statements include the accounts of the First Eagle U.S. Value Fund and the First Eagle U.S. Value Cayman Fund, Ltd. All intercompany transactions and balances have been eliminated. As of January 31, 2020, the First Eagle U.S. Value Cayman Fund, Ltd. has $184,499,988 in net assets, representing 12.57% of the U.S. Value Fund’s net assets.

The First Eagle Gold Cayman Fund, Ltd., established on May 28, 2010, is an exempted company under the laws of the Cayman Islands. The consolidated financial statements include the accounts of the First Eagle Gold Fund and the First Eagle Gold Cayman Fund, Ltd. All intercompany transactions and balances have been eliminated. As of January 31, 2020, the First Eagle Gold Cayman Fund, Ltd. has $284,323,269 in net assets, representing 21.50% of the Gold Fund’s net assets.

b)  Investment Valuation — Each Fund computes its net asset value once daily as of the close of trading on each day the New York Stock Exchange (“NYSE”) is open for trading. The net asset value per share is computed by dividing the total current value of the assets of a Fund, less its liabilities, by the total number of shares outstanding at the time of such computation.

A portfolio security (including an option), other than a bond, which is traded on a U.S. national securities exchange or a securities exchange abroad is generally valued at the price of the official close (last quoted sales price if an official closing price is not available) as of the local market close on the primary exchange. If there are no round lot sales on such date, such security will be valued at the mean between the closing bid and asked prices (and if there is only a bid or only an asked price on such date, valuation will be at such bid or asked price for long or short positions, respectively). Securities, other than bonds, traded in the over-the-counter market are valued at the mean between the last bid and asked prices prior to the time of valuation (and if there is only a bid or only an asked price on such date, valuation will be at such bid or asked price for long or short positions, respectively), except if such unlisted security is traded on the NASDAQ in which case it is valued at the NASDAQ Official Closing Price. Such prices are provided by approved pricing vendors or other independent pricing sources.

All bonds, whether listed on an exchange or traded in the over-counter-market for which market quotations are readily available are generally priced at the evaluated bid price provided by an approved pricing service as of the close of the NYSE (normally 4:00 p.m. Eastern Time), or dealers in the over-the-counter markets in the United States or abroad. Pricing services and broker-dealers use multiple valuation techniques to determine value. In instances where sufficient market activity exists, dealers or pricing services utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the dealers or pricing services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining value and/or market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon-rates, anticipated timing of principal repayments, underlying collateral, and other unique security features in order to estimate the relevant cash flows, which are then discounted to calculate the fair values. The Adviser’s Valuation Committee, at least annually, will review the pricing service’s inputs, methods, models and assumptions for its evaluated prices. Short term debt maturing in 60 days or less is valued at evaluated bid prices.

Commodities (such as physical metals) are valued at a calculated evaluated mean price, as provided by an independent price source as of the close of the NYSE.

Forward foreign currency exchange contracts are valued at the current cost of covering or offsetting such contracts, by reference to forward currency rates at the time the NYSE closes, as provided by an independent pricing source.

The spot exchange rates, as provided by an independent price source as of the close of the NYSE are used to convert foreign security prices into U.S. dollars.

Any security that is listed or traded on more than one exchange (or traded in multiple markets) is valued at the official close on the primary exchange or market on which they are traded. In the absence of such a quotation, a security may be valued at the last quoted sales price on the most active exchange or market as determined by the independent pricing agent. The Funds use pricing services to identify the market prices of publicly traded securities in their portfolios. When market prices are determined to be “stale” as a result of limited market activity for a particular holding or have been materially affected by events occurring after the close of trading on the exchange or market on which the security is principally traded but before the Fund’s NAV is calculated, or in other circumstances when market prices are unavailable, such as for private placements, or determined to be unreliable for a particular holding, such holdings may be “fair valued” in accordance with procedures approved by the Board of Trustees (“Board”). The values assigned to a Fund’s holdings therefore may differ on occasion from reported market values.

Additionally, trading of foreign equity securities on most foreign markets is completed before the close in trading in the U.S. markets. The Funds have implemented fair value pricing on a daily basis for all foreign securities, as available, to account for the market movement between the close of the foreign market and the close of the NYSE. The fair value pricing utilizes factors provided by an independent pricing service. The values assigned to a Fund’s holdings therefore may differ on occasion from reported market values. The Board and the Adviser believe relying on the procedures as just described will result in prices that are more reflective of the actual market value of portfolio securities held by the Funds than relying solely on reported market values.

The Funds adopted provisions surrounding fair value measurements and disclosures that define fair value, establish a framework for measuring fair value in GAAP and expand disclosures about fair value measurements. This applies to fair value measurements that are already required or permitted by other accounting standards and is intended to increase consistency of those measurements and applies broadly to securities and other types of assets and liabilities.

The Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs or assumptions to valuation techniques used to measure fair value. These inputs are used in determining the value of the Funds’ investments and are summarized in the following fair value hierarchy:

Level 1 — Quoted prices in active markets for identical securities.

Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 — Other significant unobservable inputs (including the Fund’s own assumption in determining the fair value of investments).

The significant unobservable inputs that may be used in determining valuations for investments identified within Level 3 are market comparables and the enterprise value of a company. Indications of value and quotations may be observable at any given time, but are currently treated by the Funds as unobservable. Significant changes in any of the unobservable inputs may significantly impact the fair value measurement. The impact is based on the relationship between each unobservable input and the fair value measurement.

Significant increases (decreases) in enterprise multiples may increase (decrease) the fair value measurement. Significant increases (decreases) in the discount for marketability, probability of insolvency and probability of default may decrease (increase) the fair value measurement.

Fair valuation of securities, other financial investments or other assets (collectively, “securities”) held by the Funds shall be determined in good faith under the supervision and responsibility of the Board. The Board has created a Board Valuation and Liquidity Committee (the “Committee”) to oversee the execution of the valuation and liquidity procedures for the Funds.

The following is a summary of the Funds’ inputs used to value the Funds’ investments as of January 31, 2020:

First Eagle Global Fund
Description	Level 1		Level 2			Level 3‡			Total
Assets:†
Common Stocks	$	21,610,854,722	$	15,750,300,882	(a)	$	–		$	37,361,155,604
Corporate Bonds		–		–			5,658,345	(b)		5,658,345
Commodities*		–		4,891,019,025			–			4,891,019,025
Foreign Government Securities		–		688,668,550			–	^		688,668,550
Short-Term Investments		424,373		6,666,554,382			–			6,666,978,755
Forward Foreign Currency Exchange Contracts**		–		10,553,032			–			10,553,032
Total	$	21,611,279,095	$	28,007,095,871		$	5,658,345		$	49,624,033,311
Liabilities:
Forward Foreign Currency Exchange Contracts**	$	–	$	(9,987,872	)	$	–		$	(9,987,872	)
Total	$	–	$	(9,987,872	)	$	–		$	(9,987,872	)

(a) The Funds have implemented fair value pricing on a daily basis for all foreign securities, as available, to account for the market movement between the close of the foreign market and the close of the NYSE. See Note 1 (b) for additional details.

(b)These investments are valued by brokers and pricing services. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 1 (b).

† See Consolidated Schedule of Investments for additional detailed categorizations.

‡ Value determined using significant unobservable inputs.

* Represents gold bullion.

** Forward Foreign Currency Exchange Contracts are valued at net unrealized appreciation (depreciation) on the investment.

^ Fair value represents zero.

Fair Value Level 3 activity for the three-month period ended January 31, 2020 was as follows:

	Corporate Bonds		Foreign Government Securities			Total Value
Beginning Balance —market value	$	5,494,335	$	—	^	$	5,494,335
Purchases(1)		—		—			—
Sales(2)		—		—			—
Transfer In — Level 3		—		—			—
Transfer Out — Level 3		—		—			—
Accrued discounts/ (premiums)		9,680		—			9,680
Realized Gains (Losses)		—		—			—
Change in Unrealized Appreciation (Depreciation)		154,330		—			154,330
Ending Balance — market value	$	5,658,345	$	—	^	$	5,658,345
Change in unrealized gains or (losses) relating to assets still held at reporting date	$	154,330	$	—		$	154,330

^ Fair value represents zero.

(1) Purchases include all purchases of securities and securities received in corporate actions.

(2) Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

Quantitative Information about Level 3 Fair Value Measurements

		Fair Value at January 31, 2020	Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
Foreign Government Securities	$	-	Discounted Cash Flow	Estimated Recoverability	0% (0%)
Total	$	-

First Eagle Overseas Fund
Description	Level 1		Level 2			Level 3‡		Total
Assets:†
Common Stocks	$	2,208,612,941	$	7,815,251,382	(a)	$	18,033,567	$	10,041,897,890
Commodities*		–		1,346,560,870			–		1,346,560,870
Foreign Government Securities		–		288,576,579			–		288,576,579
Short-Term Investments		183,859		1,850,189,936			–		1,850,373,795
Forward Foreign Currency Exchange Contracts**		–		5,335,281			–		5,335,281
Total	$	2,208,796,800	$	11,305,914,048		$	18,033,567	$	13,532,744,415
Liabilities:
Forward Foreign Currency Exchange Contracts**	$	–	$	(4,365,231	)	$	–	$	(4,365,231	)
Total	$	–	$	(4,365,231	)	$	–	$	(4,365,231	)

(a) The Funds have implemented fair value pricing on a daily basis for all foreign securities, as available, to account for the market movement between the close of the foreign market and the close of the NYSE. See Note 1 (b) for additional details.

† See Consolidated Schedule of Investments for additional detailed categorizations.

‡ Value determined using significant unobservable inputs.

* Represents gold bullion.

** Forward Foreign Currency Exchange Contracts are valued at net unrealized appreciation (depreciation) on the investment.

Fair Value Level 3 activity for the three-month period ended January 31, 2020 was as follows:

	Common Stocks
Beginning Balance —market value	$	19,770,997
Purchases(1)		—
Sales(2)		—
Transfer In — Level 3		—
Transfer Out — Level 3		—
Accrued discounts/ (premiums)		—
Realized Gains (Losses)		—
Change in Unrealized Appreciation (Depreciation)		(1,737,430	)
Ending Balance — market value	$	18,033,567
Change in unrealized gains or (losses) relating to assets still held at reporting date	$	(1,737,430	)

(1) Purchases include all purchases of securities and securities received in corporate actions.

(2) Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

Quantitative Information about Level 3 Fair Value Measurements

	Fair Value at January 31, 2020		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
Common Stocks	$	18,033,567	Market Comparable Companies	Enterprise Value Multiple		0.31x - 9.90x (4.75x)
Total	$	18,033,567

First Eagle U.S. Value Fund
Description	Level 1		Level 2			Level 3‡			Total
Assets:†
Common Stocks	$	1,077,216,963	$	6,101,987	(a)	$	–		$	1,083,318,950
Corporate Bonds		–		19,221,254			621,000	(b)		19,842,254
Commodities*		–		184,501,755			–			184,501,755
Short-Term Investments		28,502		183,820,824			–			183,849,326
Total	$	1,077,245,465	$	393,645,820		$	621,000		$	1,471,512,285

(a) The Funds have implemented fair value pricing on a daily basis for all foreign securities, as available, to account for the market movement between the close of the foreign market and the close of the NYSE. See Note 1 (b) for additional details.

(b) These investments are valued by brokers and pricing services. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 1 (b).

† See Consolidated Schedule of Investments for additional detailed categorizations.

‡ Value determined using significant unobservable inputs.

* Represents gold bullion.

Fair Value Level 3 activity for the three-month period ended January 31, 2020 was as follows:

	Corporate Bonds
Beginning Balance —market value	$	603,000
Purchases(1)		—
Sales(2)		—
Transfer In — Level 3		—
Transfer Out — Level 3		—
Accrued discounts/ (premiums)		1,111
Realized Gains (Losses)		—
Change in Unrealized Appreciation (Depreciation)		16,889
Ending Balance — market value	$	621,000
Change in unrealized gains or (losses) relating to assets still held at reporting date	$	16,889

(1) Purchases include all purchases of securities and securities received in corporate actions.

(2) Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

First Eagle Gold Fund
Description	Level 1		Level 2			Level 3		Total
Assets:†
Common Stocks	$	832,449,998	$	92,533,237	(a)	$	–	$	924,983,235
Commodities *		–		284,359,006			–		284,359,006
Rights		4,511,540		–			–		4,511,540
Short-Term Investments		80,397		104,320,999			–		104,401,396
Total	$	837,041,935	$	481,213,242		$	–	$	1,318,255,177

(a) The Funds have implemented fair value pricing on a daily basis for all foreign securities, as available, to account for the market movement between the close of the foreign market and the close of the NYSE. See Note 1 (b) for additional details.

† See Consolidated Schedule of Investments for additional detailed categorizations.

* Represents gold and silver bullion.

Fair Value Level 3 activity for the three-month period ended January 31, 2020 was as follows:

	Rights
Beginning Balance —market value	$	2,027,354
Purchases(1)		—
Sales(2)		—
Transfer In — Level 3		—
Transfer Out — Level 3		(2,027,354	)
Accrued discounts/ (premiums)		—
Realized Gains (Losses)		—
Change in Unrealized Appreciation (Depreciation)		—
Ending Balance — market value	$	—
Change in unrealized gains or (losses) relating to assets still held at reporting date	$	—

(1) Purchases include all purchases of securities and securities received in corporate actions.

(2) Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

First Eagle Global Income Builder Fund
Description	Level 1		Level 2			Level 3‡			Total
Assets:†
Common Stocks	$	342,165,881	$	473,645,960	(a)	$	–		$	815,811,841
Corporate Bonds		–		273,327,425			–			273,327,425
Closed End Funds		–		9,475,931			–			9,475,931
Commodities *		–		94,384,598			–			94,384,598
Foreign Government Securities		–		22,486,152			–			22,486,152
Loan Assignments		–		–			13,616,454	(b)		13,616,454
Preferred Stocks		8,605,478		–			–			8,605,478
Short-Term Investments		18,593		103,910,455			–			103,929,048
U.S. Treasury Obligations		–		126,510,632			–			126,510,632
Forward Foreign Currency Exchange Contracts**		–		229,769			–			229,769
Total	$	350,789,952	$	1,103,970,922		$	13,616,454		$	1,468,377,328
Liabilities:
Forward Foreign Currency Exchange Contracts**	$	–	$	(300,497	)	$	–		$	(300,497	)
Total	$	–	$	(300,497	)	$	–		$	(300,497	)

(a) The Funds have implemented fair value pricing on a daily basis for all foreign securities, as available, to account for the market movement between the close of the foreign market and the close of the NYSE. See Note 1 (b) for additional details.

(b) These investments are valued by brokers and pricing services. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 1 (b).

† See Schedule of Investments for additional detailed categorizations.

‡ Value determined using significant unobservable inputs.

* Represents gold bullion.

** Forward Foreign Currency Exchange Contracts are valued at net unrealized appreciation (depreciation) on the investment.

Fair Value Level 3 activity for the three-month period ended January 31, 2020 was as follows:

	Loan Assignments
Beginning Balance —market value	$	13,929,307
Purchases(1)		44,430
Sales(2)		(541,872	)
Transfer In — Level 3		—
Transfer Out — Level 3		—
Accrued discounts/ (premiums)		(78,755	)
Realized Gains (Losses)		8,805
Change in Unrealized Appreciation (Depreciation)		254,539
Ending Balance — market value	$	13,616,454
Change in unrealized gains or (losses) relating to assets still held at reporting date	$	254,539

(1) Purchases include all purchases of securities and securities received in corporate actions.

(2) Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

First Eagle High Yield Fund
Description	Level 1		Level 2		Level 3‡			Total
Assets:†
Common Stocks	$	–	$	–	$	8,526,008		$	8,526,008
Corporate Bonds		–		211,186,963		–			211,186,963
Loan Assignments		–		3,138,973		10,147,372	(a)		13,286,345
Short-Term Investments		17,137		19,521,236		–			19,538,373
Total	$	17,137	$	233,847,172	$	18,673,380		$	252,537,689

(a) These investments are valued by brokers and pricing services. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 1 (b).

† See Schedule of Investments for additional detailed categorizations.

‡ Value determined using significant unobservable inputs.

Fair Value Level 3 activity for the three-month period ended January 31, 2020 was as follows:

	Common Stocks			Loan Assignments			Total Value
Beginning Balance —market value	$	8,853,633		$	10,406,958		$	19,260,591
Purchases(1)		—			122,054			122,054
Sales(2)		—			(656,794	)		(656,794	)
Transfer In — Level 3		—			—			—
Transfer Out — Level 3		—			—			—
Accrued discounts/ (premiums)		—			(171,098	)		(171,098	)
Realized Gains (Losses)		—			17,407			17,407
Change in Unrealized Appreciation (Depreciation)		(327,625	)		428,845			101,220
Ending Balance — market value	$	8,526,008		$	10,147,372		$	18,673,380
Change in unrealized gains or (losses) relating to assets still held at reporting date		(327,625	)		428,845			101,220

(1) Purchases include all purchases of securities and securities received in corporate actions.

(2) Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

Quantitative Information about Level 3 Fair Value Measurements

	Fair Value at January 31, 2020		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
				Indicative Broker Quotes (Mid)		$32.50 - $33.50 ($33.00)
Common Stocks	$	8,526,008	Market Comparable Companies	Enterprise Value Multiple		5.07x - 5.07x (5.07x)
Total	$	8,526,008

First Eagle Fund of America
Description	Level 1			Level 2		Level 3		Total
Assets:†
Common Stocks	$	948,668,591		$	–	$	–	$	948,668,591
Options Purchased		3,230,000			–		–		3,230,000
Short-Term Investments		56,045,831			9,986,828		–		66,032,659
Total	$	1,007,944,422		$	9,986,828	$	–	$	1,017,931,250
Liabilities:
Written Options (Sold Short)	$	(19,881,778	)	$	–	$	–	$	(19,881,778	)
Total	$	(19,881,778	)	$	–	$	–	$	(19,881,778	)

† See Schedule of Investments for additional detailed categorizations.

c)  Forward Foreign Currency Exchange Contracts — In connection with portfolio purchases and sales of securities denominated in foreign currencies, each Fund may enter into forward foreign currency exchange contracts. The First Eagle Global Fund, First Eagle Overseas Fund, First Eagle Global Income Builder Fund and First Eagle High Yield Fund enter into forward foreign currency exchange contracts primarily to manage and/or gain exposure to certain foreign currencies. The Funds’ currency transactions include portfolio hedging on portfolio positions. Portfolio hedging is the use of a forward foreign currency exchange contract (or other cash management position) with respect to one or more portfolio security positions denominated or quoted in a particular currency. Currency exchange transactions involve currencies of different countries that the Funds invest in and serve as hedges against possible variations in the exchange rates between these currencies and the U.S. dollar. Each Fund may engage in portfolio hedging with respect to the currency of a particular country in amounts approximating actual or anticipated positions in securities denominated in that currency. Hedging can reduce exposure to currency exchange movements, but cannot eliminate that exposure. It is possible to lose money under a hedge.

Funds investing in forward foreign currency exchange contracts are exposed to risk if the value of the currency changes unfavorably, if the counterparties to the contracts are unable to meet the terms of their contracts or if the Fund is unable to enter into a closing position. Forward foreign currency exchange contracts outstanding at period end, if any, are listed after each Fund’s portfolio. For the three-month period ended January 31, 2020, the average monthly outstanding currency purchased or sold in U.S. dollars for forward foreign currency exchange contracts held by the Funds were as follows:

Derivatives Volume Disclosure
	First Eagle Global Fund		First Eagle Overseas Fund		First Eagle Global Income Builder Fund		First Eagle High Yield Fund
Forward Foreign Currency Exchange Contracts:
Average Settlement Value — Purchased	$	508,011,016	$	263,688,944	$	6,188,275	$	4,263,311
Average Settlement Value — Sold		2,342,882,892		1,137,059,761		59,353,436		4,258,575

The Funds adopted provisions surrounding disclosures of derivative instruments and hedging activities which require qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about currency-risk-related contingent features in derivative agreements.

In order to better define its contractual rights and to secure rights that may help the Funds mitigate its counterparty risk, the Funds may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs over-the-counter (“OTC”) derivatives and forward foreign currency exchange contracts and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, the Funds may, under certain circumstances, offset with the counterparty certain derivative financial instrument’s payables and/or receivables with collateral held and/or posted and create one single net payment. With respect to certain counterparties, in accordance with the terms of the ISDA Master Agreement, the Funds may be required to post or receive collateral in the form of cash or debt securities issued by the U.S. Government or related agencies. Daily movement of cash collateral is subject to minimum threshold amounts. Cash collateral that has been pledged to cover obligations of a Fund, if any, is reported separately on the Statements of Assets and Liabilities as cash pledged. Non-cash collateral pledged by a Fund, if any, is noted in the Schedules of Investments. Collateral received by the Funds is held in a segregated account at the Funds’ custodian bank. These amounts are not reflected on the Funds’ Statements of Assets and Liabilities and are disclosed in the table below. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out netting) including the bankruptcy or insolvency of the counterparty. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events.

At January 31, 2020, the Funds had the following forward foreign currency exchange contracts grouped into appropriate risk categories illustrated below:

First Eagle Global Fund

					Derivative Gain (Loss) Recognized in Income
Risk Type	Asset Derivative Fair Value		Liability Derivative Fair Value		Net realized Gains (Losses)		Change in Appreciation (Depreciation)
Foreign currency	$	10,553,032	$	9,987,872	$	10,427,633	$	7,148,739

First Eagle Overseas Fund  

					Derivative Gain (Loss) Recognized in Income
Risk Type	Asset Derivative Fair Value		Liability Derivative Fair Value		Net realized Gains (Losses)		Change in Appreciation (Depreciation)
Foreign currency	$	5,335,281	$	4,365,231	$	7,157,922	$	2,094,723

First Eagle Global Income Builder Fund

					Derivative Gain (Loss) Recognized in Income
Risk Type	Asset Derivative Fair Value		Liability Derivative Fair Value		Net realized Gains (Losses)			Change in Appreciation (Depreciation)
Foreign currency	$	229,769	$	300,497	$	(52,307	)	$	368,642

First Eagle High Yield Fund

					Derivative Gain (Loss) Recognized in Income
Risk Type	Asset Derivative Fair Value		Liability Derivative Fair Value		Net realized Gains (Losses)			Change in Appreciation (Depreciation)
Foreign currency	$	–	$	–	$	(4,736	)	$	4,736

The following tables present each Fund’s gross derivative assets and liabilities by counterparty net of amounts available for offset under netting arrangements and any related collateral received or pledged by each fund as of January 31, 2020:

First Eagle Global Fund
Counterparty	Gross Amounts of Assets Presented in Statement of Assets and Liabilities		Derivatives Available for Offset			Collateral Received*			Net Amount (Not Less Than $0)
Goldman Sachs	$	7,127,999	$	(6,019,148	)	$	(1,108,851	)	$	–
HSBC Bank plc		829,068		(829,068	)		–			–
JPMorgan Chase Bank		1,301,013		(1,301,013	)		–			–
UBS AG		1,294,952		(91,119	)		–			1,203,833
	$	10,553,032	$	(8,240,348	)	$	(1,108,851	)	$	1,203,833

Counterparty	Gross Amounts of  Liabilities Presented in Statement of Assets and Liabilities		Derivatives Available for Offset			Collateral Pledged*			Net Amount (Not Less Than $0)
Goldman Sachs	$	6,019,148	$	(6,019,148	)	$	–		$	–
HSBC Bank plc		1,444,481		(829,068	)		–			615,413
JPMorgan Chase Bank		2,433,124		(1,301,013	)		(1,055,726	)		76,385
UBS AG		91,119		(91,119	)		–			–
	$	9,987,872	$	(8,240,348	)	$	(1,055,726	)	$	691,798

First Eagle Overseas Fund
Counterparty	Gross Amounts of Assets Presented in Statement of Assets and Liabilities		Derivatives Available for Offset			Collateral Received*			Net Amount (Not Less Than $0)
Goldman Sachs	$	3,650,582	$	(2,620,138	)	$	(1,030,444	)	$	–
HSBC Bank plc		302,861		(302,861	)		–			–
JPMorgan Chase Bank		514,851		(514,851	)		–			–
UBS AG		866,987		(36,312	)		–			830,675
	$	5,335,281	$	(3,474,162	)	$	(1,030,444	)	$	830,675

Counterparty	Gross Amounts of  Liabilities Presented in Statement of Assets and Liabilities		Derivatives Available for Offset			Collateral Pledged*			Net Amount (Not Less Than $0)
Goldman Sachs	$	2,620,138	$	(2,620,138	)	$	–		$	–
HSBC Bank plc		555,702		(302,861	)		–			252,841
JPMorgan Chase Bank		1,153,079		(514,851	)		(603,272	)		34,956
UBS AG		36,312		(36,312	)		–			–
	$	4,365,231	$	(3,474,162	)	$	(603,272	)	$	287,797

First Eagle Global Income Builder Fund
Counterparty	Gross Amounts of Assets Presented in Statement of Assets and Liabilities		Derivatives Available for Offset			Collateral Received*		Net Amount (Not Less Than $0)
Goldman Sachs	$	93,425	$	(93,425	)	$	–	$	–
HSBC Bank plc		33,812		(28,925	)		–		4,887
JPMorgan Chase Bank		63,243		(63,243	)		–		–
UBS AG		39,289		(3,825	)		–		35,464
	$	229,769	$	(189,418	)	$	–	$	40,351

Counterparty	Gross Amounts of  Liabilities Presented in Statement of Assets and Liabilities		Derivatives Available for Offset			Collateral Pledged*			Net Amount (Not Less Than $0)
Goldman Sachs	$	175,449	$	(93,425	)	$	(82,024	)	$	–
HSBC Bank plc		28,925	$	(28,925	)		–			–
JPMorgan Chase Bank		92,298	$	(63,243	)		(29,055	)		–
UBS AG		3,825		(3,825	)		–			–
	$	300,497	$	(189,418	)	$	(111,079	)	$	–

* The actual collateral received/pledged may be more than the amount reported due to over collateralization.

d)  Options — In order to seek to produce incremental earnings or protect against declines in the value of portfolio securities, each Fund may write covered call options on portfolio securities. The Funds may also use options for speculative purposes, although they generally do not employ options for this purpose.

Options contracts are valued daily based upon the official closing price on the relevant exchange on which the option is traded. If there is no official closing price, the mean between the last bid and asked prices may be used. When an option is exercised, the proceeds on the sale of a written call option are adjusted by the amount of premium received or paid. When a written option expires, the Funds will realize a gain equal to the amount of the premium received. When the Funds enter into a closing purchase transaction, the Funds will realize a gain (or loss, if the cost of the closing purchase transaction exceeds the premium received when the option was written) without regard to any unrealized gain or loss on the underlying security and the liability related to such option is eliminated.

The Funds may be required to segregate or earmark assets to cover its obligations under option contracts. In general, a call option is covered if the Funds hold, on a share-for-share basis, either the underlying shares or a call on the same security as the call written where the exercise price of the call held is equal to or less than the exercise price of the call written (or greater than the exercise price of the call written if the difference is maintained by the Funds in cash, Treasury bills or other high grade short-term obligations earmarked with its custodian). One reason for writing options is to attempt to realize, through the receipt of premiums, a greater return than would be realized on the securities alone. Another reason for writing options is to hedge against a moderate decline in the value of securities owned by the Funds in the case of a call option. If an increase occurs in the underlying security or stock index sufficient to result in the exercise of a call written by the Funds, it may be required to deliver securities or cash and may thereby forego some or all of the gain that otherwise may have been realized on the securities underlying the call option. This “opportunity cost” may be partially or wholly offset by the premium received for the covered call written by the Funds. The risk in writing a covered call option is that the Funds give up the opportunity for profit if the market price of the underlying security increases and the option is exercised. The Funds also have the additional risk of not being able to enter into a closing transaction if a liquid secondary market does not exist.

The Funds may also write over-the-counter options where the completion of the obligation is dependent upon the credit standing of the counterparty.

As of January 31, 2020 for First Eagle Fund of America, portfolio securities valued at $364,152,883 were earmarked to cover collateral requirements for written options.

For the three-month period ended January 31, 2020 for First Eagle Fund of America, the average monthly outstanding contract amount for written options and purchased options totaled 74,623 and 9,250 respectively.

At January 31, 2020, the First Eagle Fund of America had the following options grouped into appropriate risk categories illustrated below:

First Eagle Fund of America
					Derivative Gain (Loss) Recognized in Income
Risk Type	Asset Derivative Fair Value		Liability Derivative Fair Value		Net realized Gains (Losses)			Change in Appreciation (Depreciation)
Equity - Written options	$	–	$	19,881,778	$	(10,674,684	)	$	785,314
Equity - Purchased options		3,230,000	$	–		(3,627,238	)		4,877,975