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        <name>Versant Media Group, Inc.</name>
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        <name>Export Development Canada</name>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <name>Exxon Mobil Corp.</name>
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          <isin value="US30231G1022"/>
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        <name>Alphabet, Inc.</name>
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        <name>Taiwan Semiconductor Manufacturing Co. Ltd.</name>
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        <name>Expeditors International of Washington, Inc.</name>
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        <name>N/A</name>
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        <name>JG Boswell Co.</name>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
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        <name>Carlisle Cos., Inc.</name>
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        <name>Japanese Yen</name>
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        <name>Saudi Arabian Oil Co.</name>
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        <name>Caisse des Depots et Consignations</name>
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        <name>Alibaba Group Holding Ltd.</name>
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        <name>Alphabet, Inc.</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>Shell plc</name>
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        <name>Province of Quebec Canada</name>
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        <name>Magnum Ice Cream Co. NV (The)</name>
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        <name>Cummins, Inc.</name>
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        <name>Engie SA</name>
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        <name>Walt Disney Co. (The)</name>
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        <name>Fidelity National Financial, Inc.</name>
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        <name>Danone SA</name>
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        <name>CH Robinson Worldwide, Inc.</name>
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        <name>Brenntag SE</name>
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        <name>British American Tobacco plc</name>
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        <name>Fiserv, Inc.</name>
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        <name>Mills Music Trust</name>
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        <name>American Express Co.</name>
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        <name>Province of Quebec Canada</name>
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        <name>Svenska Handelsbanken AB</name>
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        <name>Franco-Nevada Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Groupe Bruxelles Lambert NV</name>
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          <isin value="BE0003797140"/>
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        <invCountry>BE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cisco Systems, Inc.</name>
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          <isin value="US17277BE435"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lloyds Banking Group plc</name>
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          <isin value="GB0008706128"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
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          <isin value="US912797SN89"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-30</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRW Bank</name>
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          <isin value="US62939MDG96"/>
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        <balance>40000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-16</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wheaton Precious Metals Corp.</name>
        <lei>549300XSFG5ZCGVYD886</lei>
        <title>Wheaton Precious Metals Corp.</title>
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          <isin value="CA9628791027"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pluxee NV</name>
        <lei>213800RQNIQT48SEEO85</lei>
        <title>Pluxee NV</title>
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          <isin value="NL0015001W49"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IPG Photonics Corp.</name>
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        <title>IPG Photonics Corp.</title>
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          <isin value="US44980X1090"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="365452"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Shimano, Inc.</name>
        <lei>529900L32YT3P9DECR10</lei>
        <title>Shimano, Inc.</title>
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          <isin value="JP3358000002"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Unilever plc</name>
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        <title>Unilever plc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Becton Dickinson &amp; Co.</name>
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        <title>Becton Dickinson &amp; Co.</title>
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        <name>Imperial Oil Ltd.</name>
        <lei>549300JZNB745JT5WY51</lei>
        <title>Imperial Oil Ltd.</title>
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      <invstOrSec>
        <name>MS&amp;AD Insurance Group Holdings, Inc.</name>
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        <name>Grupo Mexico SAB de CV</name>
        <lei>529900JWLZAYET2ZGW20</lei>
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      <invstOrSec>
        <name>Saudi Arabian Oil Co.</name>
        <lei>5586006WD91QHB7J4X50</lei>
        <title>Saudi Arabian Oil Co.</title>
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        <name>LVMH Moet Hennessy Louis Vuitton SE</name>
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        <title>LVMH Moet Hennessy Louis Vuitton SE</title>
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        <invCountry>FR</invCountry>
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        <name>PSP Capital, Inc.</name>
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        <title>PSP Capital, Inc.</title>
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      <invstOrSec>
        <name>Saudi Arabian Oil Co.</name>
        <lei>5586006WD91QHB7J4X50</lei>
        <title>Saudi Arabian Oil Co.</title>
        <cusip>80414PEB8</cusip>
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        <invCountry>SA</invCountry>
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        <name>CK Asset Holdings Ltd.</name>
        <lei>5299006GJZSGP78B8S35</lei>
        <title>CK Asset Holdings Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Schindler Holding AG</name>
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      <invstOrSec>
        <name>Newmont Corp.</name>
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        <name>Fomento Economico Mexicano SAB de CV</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>Dentsply Sirona, Inc.</name>
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        <name>Barrick Mining Corp.</name>
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        <name>Chofu Seisakusho Co. Ltd.</name>
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        <name>JPMorgan US Government Money Market Fund</name>
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        <name>Weyerhaeuser Co.</name>
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        <name>Nutrien Ltd.</name>
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        <name>Dollar General Corp.</name>
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        <name>Wal-Mart de Mexico SAB de CV</name>
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        <name>Deere &amp; Co.</name>
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        <name>Bio-Rad Laboratories, Inc.</name>
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        <name>Universal Health Services, Inc.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>FANUC Corp.</name>
        <lei>529900QTSW745LOKW705</lei>
        <title>FANUC Corp.</title>
        <cusip>N/A</cusip>
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          <isin value="JP3802400006"/>
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        <balance>14481600.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Cie Financiere Richemont SA</name>
        <lei>549300YIPGJ6UX2QPS51</lei>
        <title>Cie Financiere Richemont SA (Registered)</title>
        <cusip>N/A</cusip>
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          <isin value="CH0210483332"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
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          <isin value="US47816GED79"/>
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        <balance>100000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-13</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="368946"/>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>UBS AG</counterpartyName>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Orkla ASA</name>
        <lei>549300PZS8G8RG6RVZ52</lei>
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        <cusip>N/A</cusip>
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          <isin value="NO0003733800"/>
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        <assetCat>EC</assetCat>
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        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Saudi Arabian Oil Co.</name>
        <lei>5586006WD91QHB7J4X50</lei>
        <title>Saudi Arabian Oil Co.</title>
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          <isin value="US80414PD941"/>
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        <balance>86000000.00000000</balance>
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        <assetCat>STIV</assetCat>
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        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-09</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BASF SE</name>
        <lei>529900PM64WH8AF1E917</lei>
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          <isin value="US05526MCW38"/>
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        <balance>64000000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-30</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Siemens Capital Co. LLC</name>
        <lei>EOSCVWUER252U910GR08</lei>
        <title>Siemens Capital Co. LLC</title>
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          <isin value="US82619UBC71"/>
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        <balance>50000000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-12</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Legrand SA</name>
        <lei>969500XXRPGD7HCAFA90</lei>
        <title>Legrand SA</title>
        <cusip>N/A</cusip>
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          <isin value="FR0010307819"/>
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        <balance>1813338.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sodexo SA</name>
        <lei>969500LCBOG12HXPYM84</lei>
        <title>Sodexo SA</title>
        <cusip>N/A</cusip>
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          <isin value="FR0000121220"/>
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        <balance>2131829.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KT&amp;G Corp.</name>
        <lei>988400ZJV6ISYBLQX875</lei>
        <title>KT&amp;G Corp.</title>
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          <isin value="KR7033780008"/>
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        <invCountry>KR</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ambev SA</name>
        <lei>549300TH5Q6VRP8OT012</lei>
        <title>Ambev SA</title>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BR</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRW Bank</name>
        <lei>52990002O5KK6XOGJ020</lei>
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          <isin value="US62939MB635"/>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SMC Corp.</name>
        <lei>353800O40V08DOZ70X62</lei>
        <title>SMC Corp.</title>
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          <isin value="JP3162600005"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fresnillo plc</name>
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        <title>Fresnillo plc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Investor AB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems, Inc.</title>
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        <name>N/A</name>
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        <name>Canadian Dollar</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Saudi Arabian Oil Co.</name>
        <lei>5586006WD91QHB7J4X50</lei>
        <title>Saudi Arabian Oil Co.</title>
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        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Engie SA</name>
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      <invstOrSec>
        <name>Cisco Systems, Inc.</name>
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      <invstOrSec>
        <name>BAE Systems plc</name>
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        <name>Meta Platforms, Inc.</name>
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        <name>Cisco Systems, Inc.</name>
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        <name>Medtronic plc</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>Willis Towers Watson plc</name>
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        <name>N/A</name>
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        <name>Rentokil Initial plc</name>
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        <name>Reckitt Benckiser Group plc</name>
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        <name>Oracle Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
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        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems, Inc.</title>
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        <name>Diageo plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hoshizaki Corp.</name>
        <lei>5299001QAMLGU3SRBG20</lei>
        <title>Hoshizaki Corp.</title>
        <cusip>N/A</cusip>
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          <isin value="JP3845770001"/>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US Bancorp</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Dassault Systemes SE</name>
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      <invstOrSec>
        <name>Bausch &amp; Lomb, Inc.</name>
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      <invstOrSec>
        <name>Erste Abwicklungsanstalt</name>
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      <invstOrSec>
        <name>NRW Bank</name>
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          <maturityDt>2026-04-17</maturityDt>
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      <invstOrSec>
        <name>Guoco Group Ltd.</name>
        <lei>3OIHUMDMI0Z4XVPQ8V78</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Export Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Power Corp. of Canada</name>
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        <fairValLevel>1</fairValLevel>
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        <name>T Hasegawa Co. Ltd.</name>
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        <name>Haleon plc</name>
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        <name>PPG Industries, Inc.</name>
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        <name>NOV, Inc.</name>
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        <name>Analog Devices, Inc.</name>
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        <name>Saudi Arabian Oil Co.</name>
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        <name>SLB Ltd.</name>
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        <name>Colgate-Palmolive Co.</name>
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        <name>South Korea Won</name>
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        <name>N/A</name>
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        <name>Itausa SA</name>
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        <name>United States of America</name>
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      <invstOrSec>
        <name>International Flavors &amp; Fragrances, Inc.</name>
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        <name>Industrias Penoles SAB de CV</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hyundai Mobis Co. Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indian Rupee</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Engie SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Berkeley Group Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Heineken Holding NV</name>
        <lei>724500M1WJLFM9TYBS04</lei>
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          <isin value="NL0000008977"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jardine Matheson Holdings Ltd.</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Walt Disney Co. (The)</name>
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        <name>Brazilian Real</name>
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        <name>USS Co. Ltd.</name>
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        <name>United States of America</name>
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        <name>United States of America</name>
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        <name>Singapore Dollar</name>
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        <name>Saudi Arabian Oil Co.</name>
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        <name>Hydro-Quebec</name>
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        <name>Secom Co. Ltd.</name>
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        <name>Siemens Capital Co. LLC</name>
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      <invstOrSec>
        <name>NRW Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Walt Disney Co. (The)</name>
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          <isin value="US2546871060"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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          <isin value="US5949181045"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ONEOK, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRW Bank</name>
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          <isin value="US62939MDU80"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Samsung Life Insurance Co. Ltd.</name>
        <lei>988400VYE6E0WYSM4S92</lei>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ferguson Enterprises, Inc.</name>
        <lei>2138003JYQMRP3SLX189</lei>
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          <isin value="US31488V1070"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hongkong Land Holdings Ltd.</name>
        <lei>213800XCHYNRPAYGXW28</lei>
        <title>Hongkong Land Holdings Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="BMG4587L1090"/>
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        <balance>31759300.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AIA Group Ltd.</name>
        <lei>ZP5ILWVSYE4LJGMMVD57</lei>
        <title>AIA Group Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="HK0000069689"/>
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        <invCountry>HK</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BXP, Inc.</name>
        <lei>549300OF70FSEUQBT254</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Nestle SA</name>
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        <name>NRW Bank</name>
        <lei>52990002O5KK6XOGJ020</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>HCA Healthcare, Inc.</name>
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        <name>Hirose Electric Co. Ltd.</name>
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        <name>Equity Residential</name>
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        <name>Elevance Health, Inc.</name>
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        <name>Omnicom Group, Inc.</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>Omnicom Group, Inc.</title>
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        <name>Gold bullion</name>
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        <title>Gold bullion</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Douglas Emmett, Inc.</name>
        <lei>N/A</lei>
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          <isin value="US25960P1093"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Berkshire Hathaway, Inc.</name>
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          <isin value="US0846701086"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Heineken NV</name>
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          <isin value="NL0000009165"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-19</maturityDt>
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      <invstOrSec>
        <name>Kreditanstalt fuer Wiederaufbau</name>
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          <isin value="US48246UD112"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="371583"/>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Bank of New York</counterpartyName>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
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          <isin value="US6840C3D832"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-08</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRW Bank</name>
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          <isin value="US62939MBC01"/>
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        <balance>75000000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-12</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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          <isin value="US6840C3E418"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sompo Holdings, Inc.</name>
        <lei>353800CWW4SRGEYEB512</lei>
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          <isin value="JP3165000005"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prosus NV</name>
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          <isin value="NL0013654783"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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          <isin value="US71838MB331"/>
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        <name>Wendel SE</name>
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        <name>Keyence Corp.</name>
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        <name>Samsung Electronics Co. Ltd.</name>
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        <name>Hydro-Quebec</name>
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        <name>Engie SA</name>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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      <invstOrSec>
        <name>Charter Communications, Inc.</name>
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        <name>United States of America</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Schindler Holding AG</name>
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      <invstOrSec>
        <name>DISNEY WALT</name>
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      <invstOrSec>
        <name>British Pound</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Agnico Eagle Mines Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NRW Bank</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>Saudi Arabian Oil Co.</name>
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        <name>Swedish Krona</name>
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        <name>Texas Instruments, Inc.</name>
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        <name>AES Corp. (The)</name>
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        <name>Salesforce, Inc.</name>
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        <name>Province of Quebec Canada</name>
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        <name>Mitsubishi Electric Corp.</name>
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        <name>Extra Space Storage, Inc.</name>
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        <name>Workday, Inc.</name>
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        <name>Noble Corp. plc</name>
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        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
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        <valUSD>49796665.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-11</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Co. Ltd.</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7005930003"/>
        </identifiers>
        <balance>4333010.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1439.40000000"/>
        <valUSD>478688323.38000000</valUSD>
        <pctVal>0.637603351752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Merck KGaA</name>
        <lei>529900OAREIS0MOPTW25</lei>
        <title>Merck KGaA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0006599905"/>
        </identifiers>
        <balance>6071389.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84363268"/>
        <valUSD>904593088.65000000</valUSD>
        <pctVal>1.204900051086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Henkel AG &amp; Co. KGaA</name>
        <lei>549300VZCL1HTH4O4Y49</lei>
        <title>Henkel AG &amp; Co. KGaA (Preference)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0006048432"/>
        </identifiers>
        <balance>3516726.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84363268"/>
        <valUSD>308951457.41000000</valUSD>
        <pctVal>0.411517213084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>71838MBA7</cusip>
        <identifiers>
          <isin value="US71838MBA71"/>
        </identifiers>
        <balance>37500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37457681.25000000</valUSD>
        <pctVal>0.049892888435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-03-02</ncom:dateSigned>
      <ncom:nameOfApplicant>First Eagle Funds</ncom:nameOfApplicant>
      <ncom:signature>Shuang Wu</ncom:signature>
      <ncom:signerName>Shuang Wu</ncom:signerName>
      <ncom:title> Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
