NPORT-EX 2 tm2029816d1_nportex.htm

 

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

 

Investments     Shares   Value ($) 
COMMON STOCKS - 77.4%
              
Australia - 0.6%
Newcrest Mining Ltd.      10,926,567    278,363,078 
              
Belgium - 1.4%
Groupe Bruxelles Lambert SA      6,813,598    591,015,395 
              
Brazil - 1.9%
Ambev SA, ADR*      103,309,902    276,870,537 
Cielo SA      75,872,591    78,104,459 
Wheaton Precious Metals Corp.      8,689,365    472,093,200 
            827,068,196 
Canada - 3.9%
Agnico Eagle Mines Ltd.      3,871,032    307,411,007 
Barrick Gold Corp.      17,454,483    504,609,104 
Franco-Nevada Corp.      788,093    125,970,145 
Imperial Oil Ltd.      10,896,401    170,427,863 
Nutrien Ltd.      11,278,104    367,553,409 
Power Corp. of Canada      12,261,601    217,595,473 
            1,693,567,001 
Denmark - 0.1%
ISS A/S*      2,870,500    44,298,730 
              
France - 5.0%
Cie de Saint-Gobain*      5,490,200    203,110,031 
Danone SA      9,853,687    659,539,474 
Legrand SA      2,350,814    181,854,892 
LVMH Moet Hennessy Louis Vuitton SE      264,822    115,156,045 
Rexel SA*      11,789,132    139,921,148 
Saint Jean Groupe SA*      93,252    2,522,398 
Sanofi      4,486,722    471,092,574 
Sodexo SA      3,827,240    264,133,670 
Wendel SE      1,067,994    100,237,543 
            2,137,567,775 
Germany - 1.0%
Brenntag AG      1,553,189    95,851,935 
HeidelbergCement AG      2,790,405    154,854,604 
Henkel AG & Co. KGaA (Preference)      1,980,388    194,721,335 
            445,427,874 
Hong Kong - 2.0%
CK Asset Holdings Ltd.      29,853,500    165,766,671 
Guoco Group Ltd.      12,693,580    172,909,790 
Hongkong Land Holdings Ltd.      31,759,300    120,977,462 
Hysan Development Co. Ltd.      23,322,348    64,431,881 
Jardine Matheson Holdings Ltd.      6,979,771    285,453,740 
Jardine Strategic Holdings Ltd.      2,098,800    42,280,698 
            851,820,242 
Ireland - 0.3%
CRH plc      3,284,015    118,600,322 
              
Japan - 9.9%
Chofu Seisakusho Co. Ltd.(a)      3,230,000    66,302,941 
FANUC Corp.      4,173,600    704,182,892 
Hirose Electric Co. Ltd.(a)      1,981,115    207,785,135 
Hoshizaki Corp.      2,080,300    158,582,155 
Hoya Corp.      1,355,340    133,662,959 
Keyence Corp.      630,200    265,747,189 
Komatsu Ltd.      6,756,000    132,734,547 
Mitsubishi Electric Corp.      17,189,500    224,392,999 
Mitsubishi Estate Co. Ltd.      29,764,880    427,581,137 
MS&AD Insurance Group Holdings, Inc.      5,705,620    143,371,027 
Olympus Corp.      2,001,224    35,994,960 
Secom Co. Ltd.      6,337,130    548,028,834 
Shimano, Inc.      1,721,290    373,757,190 
SMC Corp.      550,656    289,396,882 
Sompo Holdings, Inc.      14,210,900    468,308,678 
T Hasegawa Co. Ltd.(a)      3,002,800    59,978,855 
USS Co. Ltd.      997,600    14,790,351 
            4,254,598,731 
Mexico - 1.2%
Fomento Economico Mexicano SAB de CV, ADR      1,915,972    117,851,438 
Fresnillo plc      18,207,492    295,696,770 
Industrias Penoles SAB de CV      6,401,020    95,516,276 
            509,064,484 
Norway - 0.3%
Orkla ASA      13,983,441    137,538,852 
              
South Korea - 2.2%
Hyundai Mobis Co. Ltd.      1,067,561    184,727,408 
Kia Motors Corp.      4,478,873    152,444,697 
KT&G Corp.      5,242,098    355,801,910 
Lotte Confectionery Co. Ltd.      161,797    14,976,790 
Lotte Corp.      913,277    23,848,434 
Namyang Dairy Products Co. Ltd.(a)      39,989    10,204,208 
NAVER Corp.      304,531    77,366,659 
Samsung Electronics Co. Ltd. (Preference)      3,025,981    126,388,594 
            945,758,700 
Sweden - 1.1%
Investor AB, Class A      2,404,983    141,705,110 
Investor AB, Class B      3,394,798    201,429,106 
Svenska Handelsbanken AB, Class A*      15,883,537    149,789,254 
            492,923,470 
Switzerland - 1.9%
Cie Financiere Richemont SA (Registered)      6,374,537    395,738,374 
Nestle SA (Registered)      3,679,697    437,596,045 
            833,334,419 
Taiwan - 0.9%
Taiwan Semiconductor Manufacturing Co. Ltd., ADR      4,862,904    383,634,497 
              
Thailand - 0.3%
Bangkok Bank PCL, NVDR      47,278,400    151,256,775 

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

 

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

 

Investments      

Shares

    

Value ($)

 
United Kingdom - 5.8%
Berkeley Group Holdings plc      5,086,651    295,131,837 
British American Tobacco plc      18,940,473    625,950,919 
Diageo plc      3,750,155    137,220,633 
GlaxoSmithKline plc      14,146,132    281,795,404 
Linde plc      1,989,036    485,924,802 
Lloyds Banking Group plc      467,728,333    159,359,929 
TechnipFMC plc      3,333,752    26,770,029 
Unilever NV      8,267,552    488,532,033 
            2,500,685,586 
United States - 37.6%
3M Co.      1,630,367    245,321,322 
Alleghany Corp.      425,309    222,147,397 
Alphabet, Inc., Class A*      134,718    200,453,648 
Alphabet, Inc., Class C*      218,828    324,513,171 
American Express Co.      2,043,641    190,712,578 
Analog Devices, Inc.      2,654,437    304,862,089 
Anthem, Inc.      1,448,101    396,490,054 
Bank of New York Mellon Corp. (The)      12,108,560    434,091,876 
Berkshire Hathaway, Inc., Class A*      789    231,674,859 
Booking Holdings, Inc.*      165,236    274,643,713 
Boston Properties, Inc., REIT      693,849    61,815,007 
Brown & Brown, Inc.      5,841,695    265,621,872 
CH Robinson Worldwide, Inc.(a)      7,172,180    672,176,710 
Charles Schwab Corp. (The)      3,988,832    132,229,781 
Colgate-Palmolive Co.      7,934,177    612,518,464 
Comcast Corp., Class A      22,385,736    958,109,501 
Cummins, Inc.      1,445,440    279,345,734 
Deere & Co.      2,733,436    481,932,101 
DENTSPLY SIRONA, Inc.      5,001,177    223,052,494 
Douglas Emmett, Inc., REIT      1,157,427    33,727,423 
Equity Residential, REIT      3,941,263    211,369,935 
Expeditors International of Washington, Inc.      1,672,498    141,342,806 
Exxon Mobil Corp.      17,984,895    756,804,382 
Facebook, Inc., Class A*      2,242,285    568,800,436 
Flowserve Corp.(a)      8,192,216    228,317,060 
General Dynamics Corp.      195,225    28,647,316 
HCA Healthcare, Inc.      1,665,329    210,897,265 
IPG Photonics Corp.*      1,136,199    203,390,983 
J G Boswell Co.      2,485    1,428,875 
Kraft Heinz Co. (The)      4,743,185    163,070,700 
Microsoft Corp.      2,262,230    463,779,772 
Mills Music Trust(a)      31,592    1,232,088 
National Oilwell Varco, Inc.      16,637,869    191,501,872 
Newmont Corp.      8,919,957    617,261,024 
Oracle Corp.      20,046,750    1,111,592,287 
Philip Morris International, Inc.      8,199,501    629,803,672 
PPG Industries, Inc.      784,198    84,418,915 
Royal Gold, Inc.      1,144,058    160,088,036 
salesforce.com, Inc.*      1,172,000    228,364,200 
San Juan Basin Royalty Trust(a)      3,908,035    9,066,641 
Schlumberger Ltd.      22,571,607    409,448,951 
Scotts Miracle-Gro Co. (The)      560,504    88,879,119 
Teradata Corp.*(a)      9,794,396    205,682,316 
Texas Instruments, Inc.      2,553,572    325,708,109 
Travelers Cos., Inc. (The)      2,465,520    282,104,798 
Truist Financial Corp.      5,556,234    208,136,526 
UGI Corp.      4,958,252    165,308,122 
Union Pacific Corp.      1,349,610    233,954,894 
Universal Health Services, Inc., Class B      2,116,279    232,579,062 
US Bancorp      6,565,740    241,881,862 
Varian Medical Systems, Inc.*      957,070    136,593,030 
W R Berkley Corp.      4,003,432    247,211,926 
Wells Fargo & Co.      7,204,575    174,782,990 
Weyerhaeuser Co., REIT      17,948,214    499,139,831 
Willis Towers Watson plc      1,036,625    217,701,616 
            16,225,731,211 
TOTAL COMMON STOCKS
(Cost $26,644,637,726)
           33,422,255,338 

 

Investments      

Ounces

    

Value ($)

 
COMMODITIES - 13.2%
              
Gold bullion*
(Cost $3,072,585,035)
      2,890,980    5,707,025,394 

 

 

Investments     Principal
Amount ($)
   Value ($) 
FOREIGN GOVERNMENT SECURITIES - 1.6%
            
Indonesia - 0.1%
Republic of Indonesia           
8.25%, 7/15/2021  IDR   965,460,000,000    68,541,047 
              
Malaysia - 0.3%             
Malaysia Government Bond             
3.66%, 10/15/2020  MYR   54,021,000    12,788,702 
3.42%, 8/15/2022  MYR   443,682,000    107,860,436 
            120,649,138 
Mexico - 0.3%             
Mex Bonos Desarr Fix Rt             
6.50%, 6/9/2022  MXN   1,940,060,000    90,125,834 
8.00%, 12/7/2023  MXN   911,940,000    45,125,766 
            135,251,600 
Peru - 0.3%             
Republic of Peru             
8.20%, 8/12/2026(b)  PEN   318,059,000    119,821,461 
              
Singapore - 0.6%             
Republic of Singapore             
3.25%, 9/1/2020  SGD   119,604,000    87,239,541 
2.25%, 6/1/2021  SGD   214,847,000    158,891,221 
            246,130,762 
TOTAL FOREIGN GOVERNMENT SECURITIES
(Cost $700,633,892)
           690,394,008 

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

 

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

 

Investments  Principal
Amount ($)
   Value ($) 
CORPORATE BONDS - 0.0%(c)
         
United States - 0.0%(c)
Bausch & Lomb, Inc.          
7.13%, 8/1/2028‡
(Cost $5,002,399)
   5,467,000    5,631,010 
           
SHORT-TERM INVESTMENTS - 7.7%          
           
COMMERCIAL PAPER - 7.6%          
Amazon.com, Inc.          
0.10%, 8/3/2020(d)   37,810,000    37,809,779 
0.12%, 8/17/2020(d)   19,398,000    19,397,322 
0.10%, 9/16/2020(d)   31,085,000    31,081,226 
Apple, Inc.          
0.15%, 8/10/2020(b)(d)   19,398,000    19,397,671 
0.12%, 9/9/2020(b)(d)   38,863,000    38,858,120 
0.12%, 9/18/2020(b)(d)   48,271,000    48,262,919 
BASF SE          
0.25%, 8/7/2020(b)(d)   58,749,000    58,747,286 
0.28%, 8/10/2020(b)(d)   63,423,000    63,420,094 
0.28%, 8/12/2020(b)(d)   89,681,000    89,675,769 
BNG Bank NV          
0.14%, 8/11/2020(b)(d)   13,636,000    13,635,604 
0.15%, 8/13/2020(b)(d)   52,590,000    52,588,329 
0.15%, 8/14/2020(b)(d)   44,840,000    44,838,535 
0.15%, 8/25/2020(b)(d)   39,396,000    39,393,264 
0.15%, 8/27/2020(b)(d)   39,396,000    39,393,045 
0.15%, 8/28/2020(b)(d)   39,396,000    39,392,936 
0.14%, 9/1/2020(b)(d)   76,433,000    76,425,731 
Dow Chemical Co. (The)          
1.25%, 8/18/2020(d)   18,537,000    18,535,424 
0.26%, 9/28/2020(d)   40,227,000    40,208,672 
0.26%, 9/30/2020(d)   22,446,000    22,435,275 
Engie SA          
0.55%, 9/2/2020(d)   27,526,000    27,510,760 
Erste Abwicklungsanstalt          
0.17%, 9/8/2020(b)(d)   89,681,000    89,670,119 
Export Development Corp.          
0.12%, 8/18/2020(d)   30,353,000    30,351,725 
Henkel of America, Inc.          
0.20%, 9/3/2020(b)(d)   35,623,000    35,618,794 
0.25%, 9/4/2020(b)(d)   38,445,000    38,440,253 
0.22%, 9/17/2020(d)   26,273,000    26,268,026 
Johnson & Johnson          
0.08%, 8/24/2020(b)(d)   43,826,000    43,823,312 
0.13%, 9/1/2020(b)(d)   33,208,000    33,204,960 
0.10%, 9/10/2020(d)   58,293,000    58,285,365 
0.10%, 9/11/2020(b)(d)   63,476,000    63,467,410 
0.10%, 9/14/2020(b)(d)   44,840,000    44,833,274 
0.10%, 9/15/2020(b)(d)   30,352,000    30,347,307 
0.10%, 9/16/2020(b)(d)   15,246,000    15,243,592 
0.10%, 9/24/2020(b)(d)   72,890,000    72,875,857 
Kreditanstalt fuer Wiederaufbau          
0.16%, 8/3/2020(b)(d)   70,814,000    70,813,646 
0.20%, 8/6/2020(b)(d)   36,385,000    36,384,636 
0.18%, 8/26/2020(b)(d)   33,208,000    33,205,578 
L'Oreal USA, Inc.          
0.14%, 9/16/2020(b)(d)   26,273,000    26,268,850 
LVMH Moet Hennessy Louis Vuitton SE          
0.12%, 8/21/2020(d)   20,883,000    20,881,563 
LVMH Moet Hennessy Louis Vuitton, Inc.          
0.19%, 8/20/2020(d)   59,171,000    59,166,398 
MetLife Short Term Funding LLC          
0.13%, 8/4/2020(b)(d)   33,208,000    33,207,594 
0.16%, 8/11/2020(d)   22,213,000    22,212,220 
0.09%, 8/18/2020(b)(d)   28,259,000    28,257,220 
0.14%, 9/3/2020(b)(d)   63,423,000    63,417,010 
0.12%, 9/14/2020(d)   33,433,000    33,428,821 
0.14%, 9/21/2020(b)(d)   36,445,000    36,438,999 
0.14%, 9/22/2020(d)   44,921,000    44,913,328 
Mitsubishi International Corp.          
0.15%, 9/1/2020(d)   32,244,000    32,238,841 
Nestle Capital Corp.          
0.05%, 8/6/2020(b)(d)   10,017,000    10,016,918 
0.11%, 8/21/2020(b)(d)   29,586,000    29,584,654 
0.06%, 8/31/2020(b)(d)   27,526,000    27,524,341 
NRW Bank          
0.12%, 8/3/2020(b)(d)   97,100,000    97,099,191 
0.22%, 8/6/2020(b)(d)   40,000,000    39,999,333 
0.16%, 8/7/2020(b)(d)   63,864,000    63,862,759 
0.10%, 8/10/2020(b)(d)   53,934,000    53,932,502 
0.14%, 9/2/2020(b)(d)   65,619,000    65,609,496 
0.14%, 9/4/2020(d)   43,826,000    43,819,310 
0.18%, 9/11/2020(b)(d)   31,554,000    31,548,405 
0.16%, 9/25/2020(b)(d)   50,000,000    49,987,789 

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

 

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

 

Investments   

Principal
Amount ($)

    

Value ($)

 
Pfizer, Inc.          
0.15%, 9/21/2020(b)(d)   15,540,000    15,537,194 
Philip Morris International, Inc.          
0.07%, 8/6/2020(b)(d)   5,651,000    5,650,915 
0.07%, 8/7/2020(d)   4,902,000    4,901,914 
Praxair, Inc.          
0.09%, 8/14/2020(d)   67,261,000    67,259,195 
Province of Quebec Canada          
0.15%, 8/17/2020(b)(d)   53,289,000    53,287,415 
0.15%, 8/18/2020(d)   25,655,000    25,654,115 
0.15%, 8/19/2020(d)   57,093,000    57,090,740 
0.15%, 8/24/2020(b)(d)   39,637,000    39,635,018 
PSP Capital, Inc.          
0.15%, 8/5/2020(b)(d)   31,157,000    31,156,636 
QUALCOMM, Inc.          
0.20%, 8/12/2020(b)(d)   30,398,000    30,397,027 
Roche Holdings, Inc.          
0.10%, 8/19/2020(b)(d)   33,742,000    33,740,486 
0.10%, 8/21/2020(b)(d)   38,863,000    38,861,005 
0.10%, 8/24/2020(b)(d)   38,863,000    38,860,617 
0.12%, 9/23/2020(d)   30,353,000    30,347,536 
Siemens Capital Co. LLC          
0.08%, 8/5/2020(b)(d)   62,722,000    62,721,565 
0.10%, 8/11/2020(d)   31,123,000    31,122,382 
Unilever Capital Corp.          
0.11%, 8/3/2020(b)(d)   24,898,000    24,897,828 
0.08%, 8/4/2020(b)(d)   66,416,000    66,415,358 
0.13%, 8/14/2020(b)(d)   43,263,000    43,261,620 
United Parcel Service, Inc.          
0.10%, 8/5/2020(b)(d)   24,882,000    24,881,896 
0.10%, 8/6/2020(b)(d)   34,333,000    34,332,828 
0.13%, 9/17/2020(b)(d)   27,529,000    27,524,522 
0.13%, 9/29/2020(d)   40,227,000    40,218,284 
TOTAL COMMERCIAL PAPER
(Cost $3,284,969,972)
        3,285,013,253 
U.S. TREASURY OBLIGATIONS - 0.1%          
U.S. Treasury Bills          
0.52%, 9/10/2020(d)(e)
(Cost $24,985,500)
   25,000,000    24,997,757 
INVESTMENT COMPANIES - 0.0%(c)          
JP Morgan U.S. Government Money Market Fund, Agency Shares 0.01%(f)
(Cost $63,954)
   63,954    63,954 
TOTAL SHORT-TERM INVESTMENTS
(Cost $3,310,019,426)
        3,310,074,964 
           
Total Investments - 99.9%
(Cost $33,732,878,478)
        43,135,380,714 
Other Assets Less Liabilities - 0.1%        32,657,850 
Net Assets - 100.0%        43,168,038,564 

 

* 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. Total value of all such securities at July 31, 2020 amounted to $2,579,696,493, which represents approximately 5.98% of net assets of the Fund.
(c) Represents less than 0.05% of net assets.
(d) The rate shown was the current yield as of July 31, 2020.
(e) All or a portion of this security is pledged with the custodian for current or potential holdings of forward foreign currency exchange contracts.
(f) Represents 7-day effective yield as of July 31, 2020.

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

 

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

 

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

 

Currency Purchased  Currency Sold  Counterparty  Settlement
Date
  Unrealized
Appreciation
(Depreciation) ($)
 
USD   98,405,115   EUR   86,826,000   Goldman Sachs  8/12/2020   (3,888,598)
USD   92,318,966   GBP   72,965,000   Goldman Sachs  8/12/2020   (3,196,406)
USD   122,694,911   JPY   13,121,730,000   Goldman Sachs  8/12/2020   (1,274,995)
USD   98,603,079   EUR   86,826,000   JPMorgan Chase Bank  9/16/2020   (3,770,188)
USD   90,674,634   GBP   71,956,000   JPMorgan Chase Bank  9/16/2020   (3,538,461)
USD   100,962,851   JPY   10,840,553,000   JPMorgan Chase Bank  9/16/2020   (1,500,484)
Net unrealized depreciation                (17,169,132)

 

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
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

July 31, 2020 (unaudited)

 

Affiliated Securities

 

Security Description 

Shares at

July 31, 2020

   Market Value
October 31, 2019
   Purchases at Cost   Proceeds from
Sales
   Net Realized
Gain (Loss)
   Change
in Unrealized
Appreciation/
(Depreciation)
   Market Value July
31, 2020
   Dividend/
Interest Income
 
Common Stock - 3.4%                                        
France - 0.0% (c)                                        
Saint Jean Groupe SA*^   93,252   $6,719,259   $-   $(3,679,606)  $1,848,955   $(2,366,210)  $2,522,398   $- 
                                         
Japan - 0.8%                                        
Chofu Seisakusho Co. Ltd.   3,230,000    77,469,035    -    (2,514,776)   (346)   (8,650,972)   66,302,941    873,346 
Hirose Electric Co. Ltd.   1,981,115    306,650,778    -    (53,599,481)   4,633,175    (49,899,337)   207,785,135    2,086,662 
T Hasegawa Co. Ltd.   3,002,800    55,962,414    -    -    -    4,016,441    59,978,855    451,360 
         440,082,227    -    (56,114,257)   4,632,829    (54,533,868)   334,066,931    3,411,368 
                                         
South Korea - 0.0% (c)                                        
Namyang Dairy Products Co. Ltd.   39,989    16,171,580    -    -    -    (5,967,372)   10,204,208    25,589 
                                         
Switzerland - 0.0%                                        
Pargesa Holding SA^   -    342,096,567    -    (272,881,781)   -    (69,214,786)   -    9,951,148 
                                         
United States - 2.6%                                        
CH Robinson Worldwide, Inc.   7,172,180    422,526,099    110,965,507    -    -    138,685,104    672,176,710    10,112,572 
Flowserve Corp.   8,192,216    409,387,429    -    (5,223,440)   (5,757,800)   (170,089,129)   228,317,060    4,945,507 
Mills Music Trust   31,592    897,213    -    -    -    334,875    1,232,088    73,796 
San Juan Basin Royalty Trust   3,908,035    10,278,132    -    -    -    (1,211,491)   9,066,641    442,960 
Teradata Corp.*   9,794,396    320,895,124    -    (21,241,535)   (18,370,993)   (75,600,280)   205,682,316    - 
         1,163,983,997    110,965,507    (26,464,975)   (24,128,793)   (107,880,921)   1,116,474,815    15,574,835 
                                         
Total Common Stock        1,969,053,630    110,965,507    (359,140,619)   (17,647,009)   (239,963,157)   1,463,268,352    28,962,940 
                                         
Total       $1,969,053,630   $110,965,507   $(359,140,619)  $(17,647,009)  $(239,963,157)  $1,463,268,352   $28,962,940 

 

* Non-income producing security.

^ Represents an unaffiliated issuer as of July 31, 2020.

(c) Represents less than 0.05% of net assets.

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

First Eagle Global Fund

Consolidated Schedule of Investments

July 31, 2020 (unaudited)

 

Industry Diversification for Portfolio Holdings 

Percent of Net

Assets

 
  Aerospace& Defense   0.1%
  Air Freight& Logistics   1.9 
  Auto Components   0.4 
  Automobiles   0.4 
  Banks   2.5 
  Beverages   1.2 
  Building Products   0.5 
  Capital Markets   1.3 
  Chemicals   2.4 
  Commercial Services& Supplies   1.4 
  Commodities   13.2 
  Construction Materials   0.7 
  Consumer Finance   0.4 
  Diversified Financial Services   3.0 
  Electrical Equipment   0.9 
  Electronic Equipment,Instruments& Components   1.6 
  Energy Equipment& Services   1.4 
  Entertainment   0.0*
  Equity Real Estate Investment Trusts (REITs)   1.9 
  Food Products   3.2 
  Foreign Government Securities   1.6 
  Gas Utilities   0.4 
  Health Care Equipment& Supplies   1.2 
  Health Care Providers& Services   1.9 
  Hotels, Restaurants& Leisure   0.6 
  Household Durables   0.9 
  Household Products   1.8 
  Industrial Conglomerates   1.9 
  Insurance   4.8 
  Interactive Media& Services   2.8 
  Internet& Direct Marketing Retail   0.6 
  IT Services   0.2 
  Leisure Products   0.9 
  Machinery   5.2 
  Media   2.2 
  Metals& Mining   6.6 
  Oil, Gas& Consumable Fuels   2.2 
  Personal Products   1.1 
  Pharmaceuticals   1.8 
  Real Estate Management& Development   1.8 
  Road& Rail   0.5 
  Semiconductors& Semiconductor Equipment   2.4 
  Software   4.7 
  Specialty Retail   0.0*
  Technology Hardware, Storage& Peripherals   0.3 
  Textiles, Apparel& Luxury Goods   1.2 
  Tobacco   3.7 
  Trading Companies& Distributors   0.5 
  Short-Term Investments   7.7 
Total Investments   99.9%

 

* Less than 0.05%

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

First Eagle Overseas Fund

Consolidated Schedule of Investments

July 31, 2020 (unaudited)

 

Investments  Shares   Value ($) 
COMMON STOCKS - 73.2%
           
Australia - 0.6%
Newcrest Mining Ltd.   3,107,458    79,164,991 
           
Belgium - 2.3%
Groupe Bruxelles Lambert SA   3,152,552    273,454,167 
Legris Industries SE*‡(a)(b)(c)   905,366    12,349,791 
         285,803,958 
Brazil - 2.4%
Ambev SA, ADR*   47,398,993    127,029,301 
Cielo SA   31,230,830    32,149,516 
Wheaton Precious Metals Corp.   2,555,786    138,855,854 
         298,034,671 
Canada - 5.4%
Agnico Eagle Mines Ltd.   1,063,638    84,466,889 
Barrick Gold Corp.   5,150,882    148,911,999 
Franco-Nevada Corp.   230,296    36,810,910 
Imperial Oil Ltd.   8,344,360    130,512,032 
Nutrien Ltd.   5,338,582    173,984,387 
Power Corp. of Canada   6,330,433    112,340,433 
         687,026,650 
Chile - 0.9%
Cia Cervecerias Unidas SA, ADR   7,655,223    114,598,688 
           
Denmark - 0.3%
ISS A/S*   2,163,307    33,385,038 
           
France - 8.0%
Cie de Saint-Gobain*   2,541,086    94,007,515 
Danone SA   4,983,264    333,546,146 
Laurent-Perrier*(b)   558,938    49,356,453 
Legrand SA   851,876    65,899,649 
LVMH Moet Hennessy Louis Vuitton SE   30,062    13,072,256 
Rexel SA*   7,346,731    87,195,820 
Saint Jean Groupe SA*   18,420    498,248 
Sanofi   1,976,892    207,567,828 
Sodexo SA   1,677,404    115,764,591 
Wendel SE   493,657    46,332,624 
         1,013,241,130 
Germany - 2.0%
Brenntag AG   880,806    54,357,170 
FUCHS PETROLUB SE (Preference)   1,112,385    48,575,475 
HeidelbergCement AG   1,233,522    68,454,780 
Henkel AG & Co. KGaA (Preference)   837,381    82,335,354 
         253,722,779 
Hong Kong - 4.1%
CK Asset Holdings Ltd.   13,955,500    77,490,304 
Great Eagle Holdings Ltd.   22,777,700    51,564,145 
Guoco Group Ltd.   7,806,340    106,336,637 
Hongkong Land Holdings Ltd.   13,241,800    50,440,638 
Hysan Development Co. Ltd.   17,500,405    48,347,791 
Jardine Matheson Holdings Ltd.   3,892,300    159,184,534 
Jardine Strategic Holdings Ltd.   1,478,500    29,784,644 
         523,148,693 
Ireland - 0.5%
CRH plc   1,586,739    57,304,171 
           
Japan - 17.8%
As One Corp.   744,340    79,391,638 
Chofu Seisakusho Co. Ltd.(b)   1,830,400    37,573,035 
Daiichikosho Co. Ltd.   2,283,180    61,530,754 
FANUC Corp.   1,952,540    329,438,678 
Hirose Electric Co. Ltd.   919,830    96,474,460 
Hoshizaki Corp.   903,300    68,858,944 
Hoya Corp.   558,630    55,091,814 
Kansai Paint Co. Ltd.   3,559,930    68,226,081 
Keyence Corp.   255,000    107,530,202 
Komatsu Ltd.   3,814,300    74,939,222 
Maezawa Kasei Industries Co. Ltd.   679,200    6,303,613 
Mitsubishi Electric Corp.   8,723,600    113,878,517 
Mitsubishi Estate Co. Ltd.   15,121,050    217,218,270 
MS&AD Insurance Group Holdings, Inc.   2,490,000    62,568,811 
Nagaileben Co. Ltd.   1,687,224    42,295,738 
Olympus Corp.   840,372    15,115,328 
Secom Co. Ltd.   2,777,800    240,221,440 
Shimano, Inc.   710,470    154,269,920 
SK Kaken Co. Ltd.   87,561    31,885,071 
SMC Corp.   255,490    134,272,594 
Sompo Holdings, Inc.   6,381,700    210,303,745 
T Hasegawa Co. Ltd.   1,906,436    38,079,742 
USS Co. Ltd.   425,500    6,308,434 
Yokogawa Electric Corp.   13,600    208,898 
         2,251,984,949 
Mexico - 1.6%
Fomento Economico Mexicano SAB de CV, ADR   1,109,734    68,259,738 
Fresnillo plc   5,805,391    94,281,814 
Industrias Penoles SAB de CV   2,246,692    33,525,228 
         196,066,780 
Netherlands - 0.6%
HAL Trust   608,905    80,333,081 
           
Norway - 1.0%
Orkla ASA   13,188,419    129,719,145 
           
Singapore - 1.4%
ComfortDelGro Corp. Ltd.   20,481,815    20,377,751 
Haw Par Corp. Ltd.(b)   19,447,213    131,502,762 
United Overseas Bank Ltd.   828,500    11,664,875 
UOL Group Ltd.   3,160,000    15,306,677 
         178,852,065 

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

First Eagle Overseas Fund

Consolidated Schedule of Investments

July 31, 2020 (unaudited)

 

Investments  Shares   Value ($) 
South Korea - 4.4%
Fursys, Inc.(b)   872,463    21,067,042 
Hyundai Mobis Co. Ltd.   461,565    79,867,760 
Kia Motors Corp.   2,167,878    73,786,755 
KT&G Corp.   2,525,785    171,435,011 
Lotte Confectionery Co. Ltd.   104,605    9,682,795 
Lotte Corp.   772,717    20,177,986 
Namyang Dairy Products Co. Ltd.   22,950    5,856,275 
Namyang Dairy Products Co. Ltd. (Preference)(b)   27,183    4,290,232 
NAVER Corp.   126,327    32,093,606 
NongShim Co. Ltd.   203,663    63,187,901 
Samsung Electronics Co. Ltd. (Preference)   1,666,714    69,614,991 
         551,060,354 
Sweden - 2.5%
Industrivarden AB, Class C*   1,572,517    38,790,031 
Investor AB, Class A   1,362,742    80,294,748 
Investor AB, Class B   2,096,088    124,370,620 
Svenska Handelsbanken AB, Class A*   8,041,032    75,830,729 
         319,286,128 
Switzerland - 3.4%
Cie Financiere Richemont SA (Registered)   2,717,431    168,701,150 
Nestle SA (Registered)   2,199,560    261,575,548 
         430,276,698 
Taiwan - 1.5%
Taiwan Secom Co. Ltd.   8,545,694    25,088,710 
Taiwan Semiconductor Manufacturing Co. Ltd., ADR   2,137,976    168,664,926 
         193,753,636 
Thailand - 0.8%
Bangkok Bank PCL, NVDR   21,880,059    70,000,405 
Thai Beverage PCL   52,214,985    24,489,626 
         94,490,031 
Turkey - 0.2%
AG Anadolu Grubu Holding A/S   7,603,583    20,202,284 
           
United Kingdom - 8.6%
Berkeley Group Holdings plc   1,972,051    114,420,084 
British American Tobacco plc   7,346,922    242,803,471 
Diageo plc   1,558,209    57,015,890 
GlaxoSmithKline plc   6,735,741    134,178,082 
Hiscox Ltd.   7,702,664    78,597,756 
Linde plc   555,620    135,224,985 
Lloyds Banking Group plc   228,791,969    77,951,814 
TechnipFMC plc   4,043,055    32,465,732 
Unilever NV   3,620,821    213,955,357 
         1,086,613,171 
United States - 2.9%
Newmont Corp.   3,168,331    219,248,505 
Royal Gold, Inc.   367,474    51,420,637 
Willis Towers Watson plc   447,644    94,009,716 
         364,678,858 
TOTAL COMMON STOCKS
(Cost $7,455,024,578)
        9,242,747,949 

 

Investments  Ounces   Value ($) 
COMMODITIES - 13.3%          
           
Gold bullion*          
(Cost $806,520,370)   848,708    1,675,418,430 

 

Investments   Principal Amount ($)   Value ($) 
FOREIGN GOVERNMENT SECURITIES - 2.2%           
            
Indonesia - 0.2%           
Republic of Indonesia           
8.25%, 7/15/2021   IDR436,483,000,000    30,987,303 
            
Malaysia - 0.4%           
Malaysia Government Bond           
3.66%, 10/15/2020   MYR25,956,000    6,144,713 
3.42%, 8/15/2022   MYR181,499,000    44,122,956 
          50,267,669 
Mexico - 0.4%           
Mex Bonos Desarr Fix Rt           
6.50%, 6/9/2022   MXN668,090,000    31,036,240 
8.00%, 12/7/2023   MXN377,210,000    18,665,582 
          49,701,822 
Peru - 0.4%           
Republic of Peru           
8.20%, 8/12/2026(d)   PEN129,984,000    48,968,502 
            
Singapore - 0.8%           
Republic of Singapore           
3.25%, 9/1/2020   SGD53,521,000    39,038,389 
2.25%, 6/1/2021   SGD85,183,000    62,997,533 
          102,035,922 
TOTAL FOREIGN GOVERNMENT SECURITIES
(Cost $285,294,977)
        281,961,218 

 

Investments  Principal Amount ($)   Value ($) 
SHORT-TERM INVESTMENTS - 11.0%          
           
COMMERCIAL PAPER - 10.9%          
Amazon.com, Inc.          
0.10%, 8/3/2020(e)   12,190,000    12,189,929 
0.12%, 8/17/2020(e)   20,211,000    20,210,294 
0.10%, 9/16/2020(e)   6,695,000    6,694,187 
Apple, Inc.          
0.15%, 8/10/2020(d)(e)   20,211,000    20,210,657 
0.12%, 9/9/2020(d)(e)   11,137,000    11,135,602 

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

First Eagle Overseas Fund

Consolidated Schedule of Investments

July 31, 2020 (unaudited)

 

Investments  Principal Amount ($)   Value ($) 
0.12%, 9/18/2020(d)(e)   16,953,000    16,950,162 
BASF SE          
0.25%, 8/7/2020(d)(e)   12,452,000    12,451,637 
0.28%, 8/10/2020(d)(e)   11,577,000    11,576,469 
0.28%, 8/12/2020(d)(e)   10,319,000    10,318,398 
BNG Bank NV          
0.14%, 8/11/2020(d)(e)   16,364,000    16,363,525 
0.15%, 8/13/2020(d)(e)   47,410,000    47,408,493 
0.15%, 8/14/2020(d)(e)   5,160,000    5,159,831 
0.15%, 8/25/2020(d)(e)   10,604,000    10,603,264 
0.15%, 8/27/2020(d)(e)   10,604,000    10,603,205 
0.15%, 8/28/2020(d)(e)   10,604,000    10,603,175 
0.15%, 8/31/2020(d)(e)   21,428,000    21,426,100 
0.14%, 9/1/2020(d)(e)   10,767,000    10,765,976 
Dow Chemical Co. (The)          
1.25%, 8/18/2020(e)   6,463,000    6,462,451 
0.26%, 9/28/2020(e)   9,773,000    9,768,547 
0.26%, 9/30/2020(e)   5,454,000    5,451,394 
Engie SA          
0.55%, 9/2/2020(e)   22,474,000    22,461,557 
Entergy Corp.          
0.20%, 8/3/2020(d)(e)   20,240,000    20,239,619 
Erste Abwicklungsanstalt          
0.17%, 9/8/2020(d)(e)   10,319,000    10,317,748 
Export Development Corp.          
0.12%, 8/18/2020(e)   16,567,000    16,566,304 
General Motors Financial Co., Inc.          
0.60%, 8/3/2020(e)   24,423,000    24,421,763 
Henkel of America, Inc.          
0.20%, 9/3/2020(d)(e)   14,377,000    14,375,303 
0.25%, 9/4/2020(d)(e)   11,555,000    11,553,573 
0.22%, 9/17/2020(e)   3,727,000    3,726,294 
Hitachi Capital America Corp.          
0.15%, 8/3/2020(e)   13,494,000    13,493,828 
Johnson & Johnson          
0.08%, 8/24/2020(d)(e)   6,174,000    6,173,621 
0.09%, 9/1/2020(d)(e)   69,892,000    69,885,601 
0.10%, 9/10/2020(e)   6,707,000    6,706,121 
0.10%, 9/11/2020(d)(e)   11,774,000    11,772,407 
0.10%, 9/14/2020(d)(e)   5,160,000    5,159,226 
0.10%, 9/15/2020(d)(e)   19,648,000    19,644,962 
0.10%, 9/16/2020(d)(e)   7,554,000    7,552,807 
0.10%, 9/24/2020(d)(e)   27,110,000    27,104,740 
Kreditanstalt fuer Wiederaufbau          
0.16%, 8/3/2020(d)(e)   23,286,000    23,285,884 
0.20%, 8/6/2020(d)(e)   12,129,000    12,128,879 
0.18%, 8/26/2020(d)(e)   16,792,000    16,790,775 
L'Oreal USA, Inc.          
0.14%, 9/16/2020(d)(e)   3,727,000    3,726,411 
LVMH Moet Hennessy Louis Vuitton SE          
0.12%, 8/21/2020(e)   7,767,000    7,766,465 
LVMH Moet Hennessy Louis Vuitton, Inc.          
0.19%, 8/20/2020(e)   19,281,000    19,279,500 
MetLife Short Term Funding LLC          
0.13%, 8/4/2020(d)(e)   16,792,000    16,791,795 
0.16%, 8/11/2020(e)   7,238,000    7,237,745 
0.09%, 8/18/2020(d)(e)   5,241,000    5,240,670 
0.14%, 9/3/2020(d)(e)   11,577,000    11,575,907 
0.12%, 9/14/2020(e)   16,567,000    16,564,929 
0.14%, 9/21/2020(d)(e)   13,555,000    13,552,768 
0.14%, 9/22/2020(e)   29,079,000    29,074,034 
Mitsubishi International Corp.          
0.15%, 9/1/2020(e)   17,756,000    17,753,159 
Nestle Capital Corp.          
0.05%, 8/6/2020(d)(e)   19,628,000    19,627,840 
0.11%, 8/21/2020(d)(e)   9,640,000    9,639,561 
0.06%, 8/31/2020(d)(e)   22,474,000    22,472,645 
NRW Bank          
0.22%, 8/6/2020(d)(e)   10,000,000    9,999,833 
0.16%, 8/7/2020(d)(e)   36,136,000    36,135,298 
0.10%, 8/10/2020(d)(e)   21,766,000    21,765,395 
0.14%, 9/2/2020(d)(e)   60,156,000    60,147,288 
0.14%, 9/4/2020(e)   6,174,000    6,173,058 
0.18%, 9/11/2020(d)(e)   28,446,000    28,440,956 
0.16%, 9/25/2020(d)(e)   25,000,000    24,993,894 
Pfizer, Inc.          
0.15%, 9/21/2020(d)(e)   30,449,000    30,443,502 
Philip Morris International, Inc.          
0.07%, 8/6/2020(d)(e)   22,330,000    22,329,665 
0.07%, 8/7/2020(e)   19,371,000    19,370,661 
Praxair, Inc.          
0.09%, 8/14/2020(e)   7,739,000    7,738,792 
Province of Quebec Canada          
0.15%, 8/18/2020(e)   22,295,000    22,294,231 

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

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

 

Investments  Principal
Amount ($)
   Value ($) 
0.15%, 8/19/2020(e)   19,907,000    19,906,212 
0.15%, 8/24/2020(d)(e)   11,563,000    11,562,422 
PSP Capital, Inc.          
0.15%, 8/5/2020(d)(e)   20,143,000    20,142,765 
QUALCOMM, Inc.          
0.20%, 8/12/2020(d)(e)   19,652,000    19,651,371 
Roche Holdings, Inc.          
0.10%, 8/19/2020(d)(e)   6,258,000    6,257,719 
0.10%, 8/21/2020(d)(e)   11,137,000    11,136,429 
0.10%, 8/24/2020(d)(e)   11,137,000    11,136,317 
0.12%, 9/23/2020(e)   16,567,000    16,564,018 
Siemens Capital Co. LLC          
0.08%, 8/5/2020(d)(e)   23,278,000    23,277,839 
0.10%, 8/11/2020(e)   16,044,000    16,043,681 
Total Capital SA          
0.08%, 8/3/2020(d)(e)   20,240,000    20,239,860 
Unilever Capital Corp.          
0.11%, 8/3/2020(d)(e)   12,835,000    12,834,911 
0.08%, 8/4/2020(d)(e)   33,584,000    33,583,675 
0.13%, 8/14/2020(d)(e)   6,137,000    6,136,805 
United Parcel Service, Inc.          
0.10%, 8/5/2020(d)(e)   8,108,000    8,107,966 
0.10%, 8/6/2020(d)(e)   6,267,000    6,266,969 
0.13%, 9/17/2020(d)(e)   17,821,000    17,818,101 
0.13%, 9/29/2020(e)   9,773,000    9,770,882 
TOTAL COMMERCIAL PAPER
(Cost $1,380,276,368)
        1,380,288,252 
U.S. TREASURY OBLIGATIONS - 0.1%          
U.S. Treasury Bills          
0.81%, 9/10/2020(e)(f)
(Cost $14,986,500)
   15,000,000    14,998,654 

 

Investments  Shares   Value ($) 
INVESTMENT COMPANIES - 0.0%(g)          
JP Morgan U.S. Government Money Market Fund, Agency Shares 0.01%(h)
(Cost $20,649)
   20,649    20,649 
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,395,283,517)
        1,395,307,555 
           
Total Investments - 99.7%
(Cost $9,942,123,442)
        12,595,435,152 
Other Assets Less Liabilities - 0.3%        33,892,172 
Net Assets - 100.0%        12,629,327,324 

 

See Notes to Consolidated Schedule of Investments.   (Continued)

 

 

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

 

* Non-income producing security.
Value determined using significant unobservable inputs.
(a) Security fair valued as of July 31, 2020 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at July 31, 2020 amounted to $12,349,791, which represents approximately 0.10% of net assets of the Fund.
(b) Affiliated company as defined under the Investment Company Act of 1940.
(c) Represents a security that is subject to legal or contractual restrictions on resale.
(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. Total value of all such securities at July 31, 2020 amounted to $1,065,566,718, which represents approximately 8.44% of net assets of the Fund.
(e) The rate shown was the current yield as of July 31, 2020.
(f) All or a portion of this security is pledged with the custodian for current or potential holdings of forward foreign currency exchange contracts.
(g) Represents less than 0.05% of net assets.
(h) Represents 7-day effective yield as of July 31, 2020.

 

Restricted Securities  Acquisition Date  Cost   Carrying Value
Per
Share/Principal
 
Legris Industries SE  04/30/04  $23,433,066   $13.64 

 

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

 

Currency Purchased  Currency Sold  Counterparty  Settlement
Date
  Unrealized
Appreciation
(Depreciation)
 
USD   49,983,443   EUR   44,102,000   Goldman Sachs  8/12/2020  $(1,975,157)
USD   39,296,135   GBP   31,058,000   Goldman Sachs  8/12/2020   (1,360,570)
USD   65,586,137   JPY   7,014,175,000   Goldman Sachs  8/12/2020   (681,544)
USD   50,083,995   EUR   44,102,000   JPMorgan Chase Bank  9/16/2020   (1,915,012)
USD   39,016,455   GBP   30,962,000   JPMorgan Chase Bank  9/16/2020   (1,522,567)
USD   51,936,609   JPY   5,576,522,000   JPMorgan Chase Bank  9/16/2020   (771,868)
Net unrealized depreciation             $(8,226,718)

 

See Notes to Consolidated Schedule of Investments.   (Continued)

 

 

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

 

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
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

 

Security Description  Shares at
July 31,
2020
   Market
Value
October 31,
2019
   Purchases
at Cost
   Proceeds
from Sales
   Net
Realized
Gain (Loss)
   Change in
Unrealized
Appreciation/
(Depreciation)
   Market Value
July 31, 2020
   Dividend/
Interest
Income
 
Common Stock - 2.1%                                        
Belgium - 0.1%                                        
Legris Industries SE*‡ (a)(c)   905,366   $19,770,997   $-   $-   $-   $(7,421,206)  $12,349,791   $- 
                                         
France  - 0.4%                                        
Laurent-Perrier*   558,938    55,481,136    -    -    -    (6,124,683)   49,356,453    - 
                                         
Japan - 0.4%                                        
Chofu Seisakusho Co. Ltd.   1,830,400    42,652,531    -    (270,472)   27,246    (4,836,270)   37,573,035    486,846 
Maezawa Kasei Industries Co. Ltd.^   679,200    9,169,992    -    (1,495,091)   (706,962)   (664,326)   6,303,613    139,973 
         51,822,523    -    (1,765,563)   (679,716)   (5,500,596)   43,876,648    626,819 
Singapore - 1.0%                                        
Haw Par Corp. Ltd.   19,447,213    205,615,197    -    (9,925,090)   3,768,167    (67,955,512)   131,502,762    2,093,424 
                                         
South Korea - 0.2%                                        
Fursys, Inc.   872,463    23,284,177    -    -    -    (2,217,135)   21,067,042    572,460 
Namyang Dairy Products Co. Ltd. (Preference)   27,183    4,018,631    -    -    -    271,601    4,290,232    18,264 
         27,302,808    -    -    -    (1,945,534)   25,357,274    590,724 
                                         
Total Common Stock        359,992,661    -    (11,690,653)   3,088,451    (88,947,531)   262,442,928    3,310,967 
                                         
Total       $359,992,661   $-   $(11,690,653)  $3,088,451   $(88,947,531)  $262,442,928   $3,310,967 

 

* Non-income producing security.

‡ Value determined using significant unobservable inputs.

^ Represents an unaffiliated issuer as of July 31, 2020.

(a)Security fair valued as of July 31, 2020 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at July 31, 2020 amounted to $12,349,791 which represents approximately 0.10% of net assets of the Fund.

(c)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
July 31, 2020 (unaudited)

 

Industry Diversification for Portfolio Holdings  Percent of Net
Assets
 
 Auto Components   0.6%
 Automobiles   0.6 
 Banks   1.9 
 Beverages   3.6 
 Building Products   0.8 
 Chemicals   3.9 
 Commercial Services & Supplies   2.5 
 Commodities   13.3 
 Construction Materials   1.0 
 Consumer Finance   0.1 
 Diversified Financial Services   5.1 
 Electrical Equipment   1.4 
 Electronic Equipment, Instruments & Components   1.6 
 Energy Equipment & Services   0.3 
 Entertainment   0.5 
 Food Products   6.4 
 Foreign Government Securities   2.2 
 Health Care Equipment & Supplies   0.9 
 Health Care Providers & Services   0.6 
 Hotels, Restaurants & Leisure   0.9 
 Household Durables   1.2 
 Household Products   0.7 
 Industrial Conglomerates   2.7 
 Insurance   4.4 
 Interactive Media & Services   0.3 
 IT Services   0.3 
 Leisure Products   1.2 
 Machinery   4.8 
 Metals & Mining   7.0 
 Oil, Gas & Consumable Fuels   1.0 
 Personal Products   1.7 
 Pharmaceuticals   3.7 
 Real Estate Management & Development   3.6 
 Road & Rail   0.2 
 Semiconductors & Semiconductor Equipment   1.3 
 Specialty Retail   0.0*
 Technology Hardware, Storage & Peripherals   0.6 
 Textiles, Apparel & Luxury Goods   1.4 
 Tobacco   3.3 
 Trading Companies & Distributors   1.1 
 Short-Term Investments   11.0 
Total Investments   99.7%

 

* Less than 0.05%

 

See Notes to Consolidated Schedule of Investments.   (Continued)

 

 

 

   

First Eagle U.S. Value Fund
Consolidated Schedule of Investments
July 31, 2020 (unaudited)

 

Investments   Shares   Value ($)  
COMMON STOCKS - 76.7%          
           
Aerospace & Defense - 0.1%          
General Dynamics Corp.   9,868   1,448,030  
           
Air Freight & Logistics - 3.2%          
CH Robinson Worldwide, Inc.   326,601   30,609,045  
Expeditors International of Washington, Inc.   89,172   7,535,926  
        38,144,971  
Banks - 3.3%          
Truist Financial Corp.   354,620   13,284,065  
US Bancorp   490,796   18,080,925  
Wells Fargo & Co.   303,818   7,370,625  
        38,735,615  
Capital Markets - 2.6%          
Bank of New York Mellon Corp. (The)   662,458   23,749,119  
Charles Schwab Corp. (The)   222,681   7,381,875  
        31,130,994  
Chemicals - 2.9%          
Linde plc (United Kingdom)   60,413   14,807,830  
Nutrien Ltd. (Canada)   319,147   10,401,001  
PPG Industries, Inc.   36,734   3,954,415  
Scotts Miracle-Gro Co. (The)   31,439   4,985,282  
        34,148,528  
Consumer Finance - 1.0%          
American Express Co.   124,144   11,585,118  
           
Diversified Financial Services - 1.0%          
Berkshire Hathaway, Inc., Class A*   41   12,038,871  
           
Electronic Equipment, Instruments & Components - 1.0%          
IPG Photonics Corp.*   65,950   11,805,709  
           
Energy Equipment & Services - 2.2%          
National Oilwell Varco, Inc.   682,026   7,850,120  
Schlumberger Ltd.   966,258   17,527,920  
TechnipFMC plc (United Kingdom)   156,172   1,254,061  
        26,632,101  
Equity Real Estate Investment Trusts (REITs) - 3.3%          
Boston Properties, Inc.   29,432   2,622,097  
Douglas Emmett, Inc.   56,676   1,651,539  
Equity Residential   161,312   8,651,162  
Weyerhaeuser Co.   950,211   26,425,368  
        39,350,166  
Food Products - 0.6%          
Kraft Heinz Co. (The)   206,681   7,105,693  
           
Gas Utilities - 0.6%          
UGI Corp.   217,278   7,244,049  
           
Health Care Equipment & Supplies - 1.7%          
DENTSPLY SIRONA, Inc.   291,999   13,023,156  
Varian Medical Systems, Inc.*   54,656   7,800,504  
        20,823,660  
Health Care Providers & Services - 3.8%          
Anthem, Inc.   70,624   19,336,851  
HCA Healthcare, Inc.   98,362   12,456,564  
Universal Health Services, Inc., Class B   123,366   13,557,923  
        45,351,338  
Household Products - 3.2%          
Colgate-Palmolive Co.   496,668   38,342,770  
           
Industrial Conglomerates - 1.1%          
3M Co.   88,450   13,309,071  
           
Insurance - 7.3%          
Alleghany Corp.   47,917   25,028,007  
Brown & Brown, Inc.   396,625   18,034,539  
Travelers Cos., Inc. (The)   128,831   14,740,843  
W R Berkley Corp.   264,820   16,352,635  
Willis Towers Watson plc   60,274   12,658,143  
        86,814,167  
Interactive Media & Services - 5.0%          
Alphabet, Inc., Class A*   7,298   10,859,059  
Alphabet, Inc., Class C*   12,094   17,934,919  
Facebook, Inc., Class A*   120,766   30,634,711  
        59,428,689  
Internet & Direct Marketing Retail - 1.1%          
Booking Holdings, Inc.*   8,032   13,350,228  
           
Machinery - 4.6%          
Cummins, Inc.   72,632   14,036,860  
Deere & Co.   168,017   29,623,077  
Flowserve Corp.   421,488   11,746,871  
        55,406,808  
Media - 4.0%          
Comcast Corp., Class A   1,119,185   47,901,118  
           
Metals & Mining - 5.0%          
Agnico Eagle Mines Ltd. (Canada)   100,557   7,985,552  
Barrick Gold Corp. (Canada)   507,107   14,660,463  
Franco-Nevada Corp. (Canada)   22,040   3,522,912  
Newcrest Mining Ltd. (Australia)   320,835   8,173,530  
Newmont Corp.   286,250   19,808,500  
Royal Gold, Inc.   36,656   5,129,274  
        59,280,231  
Oil, Gas & Consumable Fuels - 3.1%          
Exxon Mobil Corp.   759,221   31,948,020  
Imperial Oil Ltd. (Canada)   297,287   4,649,791  
        36,597,811  
Road & Rail - 1.3%          
Union Pacific Corp.   89,296   15,479,462  

 

See Notes to Consolidated Schedule of Investments. (Continued)

  

 

 

 

First Eagle U.S. Value Fund
Consolidated Schedule of Investments
July 31, 2020 (unaudited)

 

Investments   Shares   Value ($)  
Semiconductors & Semiconductor Equipment - 2.8%          
Analog Devices, Inc.   143,380   16,467,193  
Texas Instruments, Inc.   128,555   16,397,190  
        32,864,383  
Software - 8.1%          
Microsoft Corp.   115,611   23,701,411  
Oracle Corp.   882,926   48,958,247  
salesforce.com, Inc.*   49,128   9,572,591  
Teradata Corp.*   672,539   14,123,319  
        96,355,568  
Tobacco - 2.8%          
Philip Morris International, Inc.   435,178   33,426,022  
           

TOTAL COMMON STOCKS
(Cost $653,480,790)


      914,101,171  

  

Investments   Ounces   Value ($)  
COMMODITIES - 15.4%          
           
Gold bullion*
(Cost $95,637,711)
  93,302   184,186,019  

   

Investments   Principal
Amount ($)
  Value ($)  
CORPORATE BONDS - 1.6%          
           
Banks - 1.0%          
Wachovia Capital Trust III          
(ICE LIBOR USD 3 Month + 0.93%, 5.57% Floor), 5.57%, 9/8/2020(a)(b)   12,404,000   12,340,864  
           
Health Care Equipment & Supplies - 0.1%          
Bausch & Lomb, Inc.          
7.13%, 8/1/2028‡   600,000   618,000  
           
Oil, Gas & Consumable Fuels - 0.5%          
CITGO Petroleum Corp.          
6.25%, 8/15/2022(c)   6,542,000   6,572,747  
           
TOTAL CORPORATE BONDS
(Cost $19,386,901)
      19,531,611  

  

Investments   Shares   Value ($)  
MASTER LIMITED PARTNERSHIPS - 0.4%          
           
Oil, Gas & Consumable Fuels - 0.4%          
Enterprise Products Partners LP
(Cost $5,057,870)
  256,646   4,516,970  

 

Investments   Principal
Amount ($)
  Value ($)  
SHORT-TERM INVESTMENTS - 4.5%          
           
COMMERCIAL PAPER - 0.7%          
Entergy Corp.          
0.20%, 8/3/2020(c)(d)   2,151,000   2,150,960  
General Motors Financial Co., Inc.          
0.60%, 8/3/2020(d)   2,596,000   2,595,868  
Hitachi Capital America Corp. (Japan)          
0.15%, 8/3/2020(d)   1,434,000   1,433,982  
Total Capital SA (France)          
0.08%, 8/3/2020(c)(d)   2,151,000   2,150,985  
TOTAL COMMERCIAL PAPER
(Cost $8,331,868)
      8,331,795  

 

Investments   Shares   Value ($)  
INVESTMENT COMPANIES - 0.0%(e)          
JP Morgan U.S. Government Money Market Fund, Agency Shares, 0.01%(f)          
(Cost $21,940)   21,940   21,940  

 

Investments   Principal
Amount ($)
  Value ($)  
U.S. TREASURY OBLIGATIONS - 3.8%          
U.S. Treasury Bills          
0.13%, 8/4/2020(d)   15,000,000   14,999,969  
0.12%, 8/13/2020(d)   30,000,000   29,999,312  
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $44,998,688)
      44,999,281  
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $53,352,496)
      53,353,016  
           
Total Investments - 98.6%
(Cost $826,915,768)
      1,175,688,787  
Other Assets Less Liabilities - 1.4%       16,797,037  
Net Assets - 100.0%       1,192,485,824  

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

 

First Eagle U.S. Value Fund

Consolidated Schedule of Investments

July 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 July 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 July 31, 2020.
(c) 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. Total value of all such securities at July 31, 2020 amounted to $10,874,692, which represents approximately 0.91% of net assets of the Fund.
(d) The rate shown was the current yield as of July 31, 2020.
(e) Represents less than 0.05% of net assets.
(f) Represents 7-day effective yield as of July 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

July 31, 2020 (unaudited)  

 

Industry Diversification for Portfolio Holdings  Percent of Net Assets 
  Aerospace & Defense   0.1%
  Air Freight & Logistics   3.2 
  Banks   4.3 
  Capital Markets   2.6 
  Chemicals   2.9 
  Commodities   15.4 
  Consumer Finance   1.0 
  Diversified Financial Services   1.0 
  Electronic Equipment, Instruments & Components   1.0 
  Energy Equipment & Services   2.2 
  Equity Real Estate Investment Trusts (REITs)   3.3 
  Food Products   0.6 
  Gas Utilities   0.6 
  Health Care Equipment & Supplies   1.8 
  Health Care Providers & Services   3.8 
  Household Products   3.2 
  Industrial Conglomerates   1.1 
  Insurance   7.3 
  Interactive Media & Services   5.0 
  Internet & Direct Marketing Retail   1.1 
  Machinery   4.6 
  Media   4.0 
  Metals & Mining   5.0 
  Oil, Gas & Consumable Fuels   4.0 
  Road & Rail   1.3 
  Semiconductors & Semiconductor Equipment   2.8 
  Software   8.1 
  Tobacco   2.8 
  Short-Term Investments   4.5 
Total Investments   98.6%

 

See Notes to Consolidated Schedule of Investments. (Continued)

  

 

 

 

 

 

First Eagle Gold Fund
Consolidated Schedule of Investments
July 31, 2020 (unaudited)

 

Investments  Shares   Value ($) 
COMMON STOCKS - 62.6%    
         
Australia - 3.2%    
Newcrest Mining Ltd.   3,058,444    77,916,319 
           
Brazil - 6.6%          
Wheaton Precious Metals Corp.   2,965,286    161,103,988 
           
Canada - 35.0%          
Agnico Eagle Mines Ltd.   1,217,341    96,672,935 
Alamos Gold, Inc., Class A   6,176,338    65,339,288 
B2Gold Corp.   14,178,157    98,229,346 
Barrick Gold Corp.   6,871,570    198,657,089 
Dundee Precious Metals, Inc.(a)   10,750,440    81,062,708 
Franco-Nevada Corp.   427,322    68,303,886 
Kinross Gold Corp.*   2,275,478    21,321,229 
Kirkland Lake Gold Ltd.   1,651,804    90,208,266 
MAG Silver Corp.*   3,280,988    55,432,273 
Novagold Resources, Inc.*   7,089,794    64,658,921 
Orla Mining Ltd.*   3,995,382    17,002,260 
         856,888,201 
Mexico - 4.5%          
Fresnillo plc   5,591,932    90,815,156 
Industrias Penoles SAB de CV   1,403,600    20,944,575 
         111,759,731 
Tanzania, United Republic of - 1.7%          
AngloGold Ashanti Ltd., ADR   1,286,240    41,404,066 
           
United States - 11.6%          
Newmont Corp.   3,012,285    208,450,122 
Royal Gold, Inc.   550,063    76,970,316 
         285,420,438 
TOTAL COMMON STOCKS
(Cost $622,133,973)
        1,534,492,743 

 

Investments  Ounces   Value ($) 
COMMODITIES - 21.2%          
           
Gold bullion*   205,148    404,979,403 
Silver bullion*   4,725,533    114,777,044 
TOTAL COMMODITIES
(Cost $308,163,348)
        519,756,447 

 

Investments  Number of
Rights
   Value ($) 
RIGHTS - 0.2%          
           
Canada - 0.2%          
Pan American Silver Corp., CVR, expiring 2/22/2029*          
(Cost $45,973,715)   6,835,667    5,707,782 

 

Investments  Number of
Warrants
   Value ($) 
WARRANTS - 0.1%          
           
Canada - 0.1%          
Dundee Precious Metals, Inc., expiring 5/13/2021*‡(b)          
(Cost $396,225)   675,000    1,194,450 

 

Investments  Principal
Amount ($)
   Value ($) 
SHORT-TERM INVESTMENTS - 16.0%          
           
COMMERCIAL PAPER - 16.0%          
Amazon.com, Inc.          
0.12%, 8/17/2020(c)   10,391,000    10,390,637 
0.10%, 9/16/2020(c)   12,220,000    12,218,516 
Apple, Inc.          
0.15%, 8/10/2020(c)(d)   10,391,000    10,390,824 
0.12%, 9/18/2020(c)(d)   9,776,000    9,774,363 
BASF SE          
0.25%, 8/7/2020(c)(d)   28,799,000    28,798,160 
BNG Bank NV          
0.15%, 8/31/2020(c)(d)   14,422,000    14,420,721 
Dow Chemical Co. (The)          
0.15%, 8/11/2020(c)   50,000,000    49,997,327 
Entergy Corp.          
0.20%, 8/3/2020(c)(d)   22,477,000    22,476,577 
General Motors Financial Co., Inc.          
0.60%, 8/3/2020(c)   27,122,000    27,120,626 
Hitachi Capital America Corp.          
0.15%, 8/3/2020(c)   14,984,000    14,983,809 
Johnson & Johnson          
0.08%, 8/27/2020(c)(d)   36,900,000    36,897,343 
LVMH Moet Hennessy Louis Vuitton, Inc.          
0.19%, 8/20/2020(c)   21,548,000    21,546,324 
MetLife Short Term Funding LLC          
0.16%, 8/11/2020(c)   8,089,000    8,088,716 
Nestle Capital Corp.          
0.05%, 8/6/2020(c)(d)   12,255,000    12,254,900 
0.11%, 8/21/2020(c)(d)   10,774,000    10,773,510 
NRW Bank          
0.14%, 9/2/2020(c)(d)   15,025,000    15,022,824 
Pfizer, Inc.          
0.15%, 9/21/2020(c)(d)   19,011,000    19,007,567 
Philip Morris International, Inc.          
0.07%, 8/6/2020(c)(d)   12,019,000    12,018,820 
0.07%, 8/7/2020(c)   10,427,000    10,426,817 
Province of Quebec Canada          
0.15%, 8/17/2020(c)(d)   13,211,000    13,210,607 

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

 

First Eagle Gold Fund
Consolidated Schedule of Investments
July 31, 2020 (unaudited)

 

Investments  Principal
Amount ($)
   Value ($) 
Total Capital SA          
0.08%, 8/3/2020(c)(d)   22,477,000    22,476,844 
United Parcel Service, Inc.          
0.10%, 8/5/2020(c)(d)   9,060,000    9,059,962 
TOTAL COMMERCIAL PAPER
(Cost $391,354,970)
        391,355,794 
           
Investments  Shares   Value ($) 
INVESTMENT COMPANIES - 0.0%(e)          
JP Morgan U.S. Government Money Market Fund, Agency Shares 0.01% (f)
(Cost $17,899)
   17,899    17,899 
TOTAL SHORT-TERM INVESTMENTS
(Cost $391,372,869)
        391,373,693 
           
Total Investments - 100.1%
(Cost $1,368,040,130)
        2,452,525,115 
Liabilities in excess of other assets - (0.1)%        (3,064,514)
Net Assets - 100.0%        2,449,460,601 

 

* Non-income producing security.
Value determined using significant unobservable inputs.
(a) Affiliated company as defined under the Investment Company Act of 1940.
(b) Security fair valued as of July 31, 2020 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at July 31, 2020 amounted to $1,194,450, which represents approximately 0.05% of net assets of the Fund.
(c) The rate shown was the current yield as of July 31, 2020.
(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. Total value of all such securities at July 31, 2020 amounted to $236,583,022, which represents approximately 9.66% of net assets of the Fund.
(e) Represents less than 0.05% of net assets.
(f) Represents 7-day effective yield as of July 31, 2020.

 

Abbreviations
ADR American Depositary Receipt
CVR Contingent Value Rights

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

 

First Eagle Gold Fund
Consolidated Schedule of Investments
July 31, 2020 (unaudited)

 

Affiliated Securities

 

Security Description  Shares at
July 
31, 2020
   Market
Value
October
31, 2019
   Purchases
at Cost
   Proceeds
from
Sales
   Net
Realized
Gain (Loss)
   Change
in Unrealized
Appreciation/
(Depreciation)
   Market
Value
July
31, 2020
   Dividend/
Interest
Income
 
Common Stock — 3.3%                                        
Canada — 3.3%                                        
Dundee Precious Metals, Inc.   10,750,440   $32,628,136   $5,855,037   $-   $-   $42,579,535   $81,062,708   $338,686 
Total Common Stock        32,628,136    5,855,037    -    -    42,579,535    81,062,708    338,686 
Total       $32,628,136   $5,855,037   $-   $-   $42,579,535   $81,062,708   $338,686 

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

 

First Eagle Gold Fund
Consolidated Schedule of Investments
July 31, 2020 (unaudited)

 

Industry Diversification for Portfolio Holdings  Percent of Net
Assets
 
  Commodities   21.2%
  Metals & Mining   62.9 
  Short-Term Investments   16.0 
Total Investments   100.1%

 

See Notes to Consolidated Schedule of Investments. (Continued)

 

 

 

 

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

 

Investments  Shares   Value ($) 
COMMON STOCKS - 58.2%          
           
Belgium - 1.9%          
Groupe Bruxelles Lambert SA   277,053    24,031,736 
           
Brazil - 1.6%          
Ambev SA, ADR*   3,154,077    8,452,926 
Cielo SA   2,260,784    2,327,287 
Wheaton Precious Metals Corp.(a)   174,632    9,487,757 
         20,267,970 
Canada - 3.1%          
Agnico Eagle Mines Ltd.   99,508    7,902,248 
Franco-Nevada Corp.   39,038    6,239,901 
Imperial Oil Ltd.   287,984    4,504,285 
Nutrien Ltd.   251,917    8,209,975 
Power Corp. of Canada   692,979    12,297,668 
         39,154,077 
Chile - 1.0%          
Cia Cervecerias Unidas SA, ADR   811,171    12,143,230 
Quinenco SA   200,388    328,218 
         12,471,448 
Denmark - 0.2%          
ISS A/S*   147,225    2,272,037 
           
France - 4.4%          
Danone SA   371,940    24,895,160 
Legrand SA   39,239    3,035,461 
Sanofi   151,208    15,876,394 
Sodexo SA   136,670    9,432,162 
Wendel SE   15,480    1,452,889 
         54,692,066 
Germany - 1.5%          
Brenntag AG   94,833    5,852,428 
FUCHS PETROLUB SE (Preference)   143,667    6,273,631 
Henkel AG & Co. KGaA (Preference)   72,310    7,109,869 
         19,235,928 
Hong Kong - 3.9%          
CK Asset Holdings Ltd.   1,840,500    10,219,691 
Great Eagle Holdings Ltd.   1,749,774    3,961,138 
Guoco Group Ltd.   67,700    922,198 
Hongkong Land Holdings Ltd.   1,211,700    4,615,605 
Hysan Development Co. Ltd.   1,193,083    3,296,091 
Jardine Matheson Holdings Ltd.   469,200    19,189,010 
Mandarin Oriental International Ltd.   4,571,800    6,765,994 
         48,969,727 
Japan - 3.3%          
FANUC Corp.   72,100    12,164,938 
Komatsu Ltd.   153,000    3,005,978 
Mitsubishi Electric Corp.   461,100    6,019,233 
MS&AD Insurance Group Holdings, Inc.   24,300    610,611 
Secom Co. Ltd.   148,400    12,833,488 
Sompo Holdings, Inc.   175,100    5,770,279 
USS Co. Ltd.   30,700    455,156 
Yokogawa Electric Corp.   1,500    23,040 
         40,882,723 
Malaysia - 0.2%          
British American Tobacco Malaysia Bhd.   1,146,000    2,902,687 
           
Mexico - 0.8%          
Fomento Economico Mexicano SAB de CV, ADR   59,172    3,639,670 
Fresnillo plc   409,810    6,655,474 
         10,295,144 
Netherlands - 0.4%          
HAL Trust   38,287    5,051,219 
           
Norway - 1.1%          
Orkla ASA   1,384,485    13,617,569 
           
Singapore - 0.4%          
ComfortDelGro Corp. Ltd.   3,504,000    3,486,197 
UOL Group Ltd.   341,800    1,655,640 
         5,141,837 
South Korea - 2.1%          
Kia Motors Corp.   136,619    4,650,018 
KT&G Corp.   255,349    17,331,546 
Samsung Electronics Co. Ltd. (Preference)   91,052    3,803,043 
         25,784,607 
Spain - 0.2%          
Zardoya Otis SA   366,424    2,432,455 
           
Sweden - 1.7%          
Industrivarden AB, Class C*   189,168    4,666,298 
Investor AB, Class A   190,148    11,203,798 
Svenska Handelsbanken AB, Class A*   630,573    5,946,601 
         21,816,697 
Switzerland - 3.4%          
Cie Financiere Richemont SA (Registered)   195,516    12,137,851 
Nestle SA (Registered)   256,690    30,526,027 
         42,663,878 
Taiwan - 0.9%          
Taiwan Semiconductor Manufacturing Co. Ltd., ADR(a)   147,810    11,660,731 
           
Thailand - 0.7%          
Bangkok Bank PCL, NVDR   1,644,800    5,262,174 
Thai Beverage PCL   7,735,100    3,627,880 
         8,890,054 

 

See Notes to Schedule of Investments. (Continued)

 

 

 

 

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

 

Investments  Shares   Value ($) 
Turkey - 0.3%          
Coca-Cola Icecek A/S   466,883    3,002,734 
           
United Kingdom - 7.9%          
Berkeley Group Holdings plc   146,085    8,475,976 
British American Tobacco plc   704,960    23,297,748 
Diageo plc   109,223    3,996,541 
Domino's Pizza Group plc   798,348    3,320,275 
GlaxoSmithKline plc   689,315    13,731,372 
Hiscox Ltd.   600,597    6,128,474 
Linde plc(a)   43,426    10,605,773 
Lloyds Banking Group plc   9,349,373    3,185,429 
Unilever NV   454,539    26,858,841 
         99,600,429 
United States - 17.2%          
3M Co.(a)   65,446    9,847,660 
American Express Co.   12,229    1,141,210 
Analog Devices, Inc.   25,614    2,941,768 
Anthem, Inc.(a)   26,754    7,325,245 
Bank of New York Mellon Corp. (The)(a)   222,692    7,983,508 
Boston Properties, Inc., REIT   20,761    1,849,598 
CH Robinson Worldwide, Inc.(a)   145,789    13,663,345 
Colgate-Palmolive Co.   255,488    19,723,674 
Cummins, Inc.(a)   24,824    4,797,486 
Deere & Co.(a)   21,019    3,705,860 
Douglas Emmett, Inc., REIT   34,048    992,159 
Equity Residential, REIT   115,268    6,181,823 
Exxon Mobil Corp.(a)   541,330    22,779,166 
General Dynamics Corp.   5,959    874,424 
Kraft Heinz Co. (The)   140,874    4,843,248 
Microsoft Corp.(a)   21,517    4,411,200 
Oracle Corp.(a)   206,444    11,447,320 
Philip Morris International, Inc.(a)   264,799    20,339,211 
PPG Industries, Inc.(a)   23,817    2,563,900 
Royal Gold, Inc.(a)   38,328    5,363,237 
Schlumberger Ltd.(a)   507,314    9,202,676 
Texas Instruments, Inc.(a)   80,888    10,317,264 
Travelers Cos., Inc. (The)(a)   75,357    8,622,348 
Truist Financial Corp.(a)   183,297    6,866,306 
UGI Corp.   107,848    3,595,652 
Union Pacific Corp.   11,663    2,021,781 
US Bancorp   113,132    4,167,783 
Wells Fargo & Co.(a)   312,627    7,584,331 
Weyerhaeuser Co., REIT(a)   396,531    11,027,527 
         216,180,710 
TOTAL COMMON STOCKS
(Cost $738,012,625)
       731,018,463 

 

Investments  Principal
Amount ($)
   Value ($) 
CORPORATE BONDS - 17.5%          
           
Australia - 0.2%          
Nufarm Australia Ltd.          
5.75%, 4/30/2026(b)   2,633,000    2,619,835 
           
Canada - 0.2%          
Open Text Corp.          
3.88%, 2/15/2028(b)   1,106,000    1,155,427 
Open Text Holdings, Inc.          
4.13%, 2/15/2030(b)   774,000    812,700 
         1,968,127 
Chile - 0.1%          
VTR Comunicaciones SpA          
5.13%, 1/15/2028(b)   1,065,000    1,131,562 
           
Germany - 0.6%          
Fresenius Medical Care US Finance, Inc.          
5.75%, 2/15/2021(b)   2,494,000    2,554,244 
IHO Verwaltungs GmbH          
4.75%, (4.75% Cash or 5.50% PIK), 9/15/2026(b)(c)   3,879,000    3,946,882 
6.00%, (6.75% Cash or 5.50% PIK), 5/15/2027(b)(c)   1,336,632    1,393,439 
         7,894,565 
Netherlands - 0.6%          
NXP BV          
4.13%, 6/1/2021(b)   2,953,000    3,034,210 
4.63%, 6/1/2023(b)   4,400,000    4,844,611 
         7,878,821 
United Kingdom - 0.5%          
Ashtead Capital, Inc.          
5.25%, 8/1/2026(b)   378,000    400,680 
Lloyds Banking Group plc          
3.00%, 1/11/2022   1,250,000    1,293,762 
(ICE LIBOR USD 3 Month + 0.81%), 2.91%, 11/7/2023(d)   2,090,000    2,186,531 
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.50%), 3.87%, 7/9/2025(d)   1,655,000    1,824,615 
         5,705,588 
United States - 15.3%          
AbbVie, Inc.          
(ICE LIBOR USD 3 Month + 0.35%), 0.72%, 5/21/2021(b)(d)   2,699,000    2,703,889 
2.15%, 11/19/2021(b)   5,622,000    5,739,949 
ACCO Brands Corp.          
5.25%, 12/15/2024(b)   6,882,000    7,054,050 
Aircastle Ltd.          
5.50%, 2/15/2022   4,919,000    4,990,653 
4.40%, 9/25/2023   984,000    975,548 
American Tower Corp.          
REIT, 2.40%, 3/15/2025   115,000    122,779 

 

See Notes to Schedule of Investments. (Continued)

 

 

 

 

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

 

Investments  Principal
Amount ($)
   Value ($) 
AMN Healthcare, Inc.          
4.63%, 10/1/2027(b)   1,109,000    1,106,227 
Andeavor Logistics LP          
3.50%, 12/1/2022‡   111,000    105,111 
Aramark Services, Inc.          
5.00%, 4/1/2025(b)   1,541,000    1,583,377 
4.75%, 6/1/2026   1,076,000    1,070,620 
5.00%, 2/1/2028(b)   194,000    195,213 
Block Financial LLC          
4.13%, 10/1/2020   2,474,000    2,478,365 
BWX Technologies, Inc.          
5.38%, 7/15/2026(b)   704,000    735,680 
Carnival Corp.          
3.95%, 10/15/2020   2,271,000    2,248,290 
11.50%, 4/1/2023(b)   738,000    803,069 
Centene Corp.          
4.75%, 5/15/2022   3,240,000    3,295,793 
4.75%, 1/15/2025   5,199,000    5,387,828 
4.25%, 12/15/2027   1,355,000    1,439,687 
4.63%, 12/15/2029   684,000    762,838 
3.38%, 2/15/2030   1,113,000    1,182,217 
CenturyLink, Inc.          
Series S, 6.45%, 6/15/2021   1,331,000    1,379,249 
Charles River Laboratories International, Inc.          
5.50%, 4/1/2026(b)   350,000    369,687 
Charter Communications Operating LLC          
4.91%, 7/23/2025   1,021,000    1,183,658 
CITGO Petroleum Corp.          
6.25%, 8/15/2022(b)   13,847,000    13,912,081 
7.00%, 6/15/2025(b)   2,012,000    2,067,330 
CNH Industrial Capital LLC          
4.38%, 11/6/2020   687,000    692,931 
3.88%, 10/15/2021   3,225,000    3,324,571 
CommScope, Inc.          
5.50%, 3/1/2024(b)   563,000    584,687 
Crown Americas LLC          
4.50%, 1/15/2023   3,626,000    3,827,316 
CVS Health Corp.          
(ICE LIBOR USD 3 Month + 0.72%), 1.03%, 3/9/2021(d)   963,000    966,698 
DCP Midstream Operating LP          
4.75%, 9/30/2021(b)   4,084,000    4,161,188 
6.45%, 11/3/2036(b)   1,545,000    1,483,200 
Dell International LLC          
4.42%, 6/15/2021(b)   3,031,000    3,114,651 
5.85%, 7/15/2025(b)   2,000,000    2,330,411 
6.02%, 6/15/2026(b)   3,103,000    3,637,793 
Dollar Tree, Inc.          
3.70%, 5/15/2023   1,344,000    1,446,952 
DuPont de Nemours, Inc.          
3.77%, 11/15/2020   9,275,000    9,362,068 
Energizer Holdings, Inc.          
6.38%, 7/15/2026(b)   2,643,000    2,817,253 
4.75%, 6/15/2028(b)   46,000    49,340 
EW Scripps Co. (The)          
5.13%, 5/15/2025(b)   3,870,000    3,802,275 
Foot Locker, Inc.          
8.50%, 1/15/2022   2,494,000    2,656,110 
GameStop Corp.          
10.00%, 3/15/2023(b)   658,000    585,692 
HCA, Inc.          
4.50%, 2/15/2027   2,307,000    2,656,714 
Iron Mountain, Inc.          
REIT, 5.25%, 7/15/2030(b)   7,522,000    7,888,697 
KFC Holding Co.          
5.00%, 6/1/2024(b)   600,000    614,580 
Lamb Weston Holdings, Inc.          
4.63%, 11/1/2024(b)   4,015,000    4,205,712 
4.88%, 11/1/2026(b)   803,000    843,150 
Lennar Corp.          
2.95%, 11/29/2020   3,543,000    3,528,332 
Meredith Corp.          
6.88%, 2/1/2026   1,716,000    1,490,689 
Mileage Plus Holdings LLC          
6.50%, 6/20/2027(b)   3,324,031    3,440,372 
NortonLifeLock, Inc.          
4.20%, 9/15/2020   5,214,000    5,220,518 
3.95%, 6/15/2022   1,020,000    1,051,875 
Pilgrim's Pride Corp.          
5.75%, 3/15/2025(b)   3,300,000    3,382,500 
5.88%, 9/30/2027(b)   3,343,000    3,535,223 
Plantronics, Inc.          
5.50%, 5/31/2023(b)   3,156,000    2,983,051 
Royal Caribbean Cruises Ltd.          
2.65%, 11/28/2020   495,000    488,813 
Spectrum Brands, Inc.          
5.75%, 7/15/2025   1,520,000    1,565,600 
Sprint Communications, Inc.          
6.00%, 11/15/2022   1,800,000    1,941,750 
Taylor Morrison Communities, Inc.          
5.88%, 4/15/2023(b)   3,107,000    3,277,885 
5.13%, 8/1/2030(b)   2,000,000    2,185,000 
Teleflex, Inc.          
4.63%, 11/15/2027   824,000    890,966 
T-Mobile USA, Inc.          
6.00%, 4/15/2024   2,698,000    2,761,646 
Truist Financial Corp.          
Series N, (5 Year US Treasury Rate + 3.00%), 4.80%, 9/1/2024(d)(e)   2,170,000    2,187,659 
UnitedHealth Group, Inc.          
1.95%, 10/15/2020   2,092,000    2,099,097 
Valvoline, Inc.          
4.38%, 8/15/2025   979,000    1,012,041 
4.25%, 2/15/2030(b)   224,000    235,480 

 

See Notes to Schedule of Investments. (Continued)

 

 

 

 

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

 

Investments  Principal
Amount ($)
   Value ($) 
Vulcan Materials Co.          
(ICE LIBOR USD 3 Month + 0.65%), 1.00%, 3/1/2021(d)   3,834,000    3,832,052 
Wachovia Capital Trust III          
(ICE LIBOR USD 3 Month + 0.93%, 5.57% Floor), 5.57%, 9/8/2020(d)(e)   6,773,000    6,738,525 
WESCO Distribution, Inc.          
5.38%, 12/15/2021   4,695,000    4,725,564 
5.38%, 6/15/2024   578,000    590,832 
7.13%, 6/15/2025(b)   1,780,000    1,953,354 
7.25%, 6/15/2028(b)   2,136,000    2,333,580 
Western Digital Corp.          
4.75%, 2/15/2026   4,523,000    4,918,763 
         192,316,344 
TOTAL CORPORATE BONDS
(COST $212,578,631)
        219,514,842 

 

Investments  Ounces   Value ($) 
COMMODITIES - 9.1%          
           
Gold bullion*
(Cost $71,533,113)
   57,789    114,079,292 

 

Investments  Principal
Amount ($)
   Value ($) 
U.S. TREASURY OBLIGATIONS - 7.4%          
           
U.S. Treasury Notes          
1.13%, 6/30/2021   14,554,000    14,685,327 
2.13%, 6/30/2021   7,135,000    7,263,207 
2.13%, 6/30/2022   14,139,200    14,678,257 
1.63%, 12/15/2022   7,400,000    7,663,914 
2.63%, 6/30/2023(f)   16,764,700    17,982,105 
2.63%, 12/31/2023   7,100,000    7,698,231