# EDGAR Filing Document

**Accession Number:** 0000906352
**File Stem:** 0002071691-25-010101
**Filing Date:** 2025-12
**Character Count:** 77300
**Document Hash:** 84b3da859649f86250686b5f3bf0027e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-010101.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0002071691-25-010101

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST EAGLE FUNDS
- **CENTRAL INDEX KEY:** 0000906352

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07762
- **FILM NUMBER:** 251608594

**BUSINESS ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** 212-698-3393

**MAIL ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST EAGLE  FUNDS INC
- **DATE OF NAME CHANGE:** 20030103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST EAGLE SOGEN FUNDS INC
- **DATE OF NAME CHANGE:** 20000403

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOGEN FUNDS INC
- **DATE OF NAME CHANGE:** 19930714

## Series and Classes Contracts Data

### First Eagle Global Fund (Series ID: S000011211)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000030894 | Class A      | SGENX           |
| C000030895 | Class I      | SGIIX           |
| C000030896 | Class C      | FESGX           |
| C000179766 | Class R6     | FEGRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** First Eagle Funds

- **b. Investment Company Act file number:** 811-07762

- **c. CIK number of Registrant:** 0000906352

- **d. LEI of Registrant:** 549300FE2F4XF7FZN136

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1345 Avenue of the Americas

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10105

  - **Telephone number:** 800-334-2143

**Item A.2. Information about the Series.**

- **a. Name of Series:** First Eagle Global Fund

- **b. EDGAR series identifier (if any):** S000011211

- **c. LEI of Series:** 549300EP0EVC5GLYL794

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $68542160400.18

**Total Liabilities:** $80665977.61

**Net Assets:** $68461494422.57

**Amount of Assets Invested in Other Investment Companies:** $6567028276.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000030894 | -0.77%               | -0.54%               | -4.48%               |
| Class ID C000030895 | 4.48%                | 4.72%                | 0.57%                |
| Class ID C000179766 | 4.47%                | 4.74%                | 0.57%                |
| Class ID C000030896 | 3.39%                | 3.65%                | -0.52%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $23639404.77             | $2753239501.43                             |
| Month 2  | $741231802.48            | $2215833741.72                             |
| Month 3  | $421125673.33            | $-120295027.95                             |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                          | Title                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)    | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bangkok Bank PCL                              | Bangkok Bank PCL                              | CUSIP: N/A<br>LEI: 549300CCL2BKJGMYXV60       | Long             | EC               | CORP              | TH        |  42690800 | NS      | $209195798.53  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                  | Oracle Corp.                                  | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |   6449364 | NS      | $1693667480.04 | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                             | Exxon Mobil Corp.                             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |   5306628 | NS      | $606865978.08  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                                | Alphabet, Inc., Class A                       | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   2694360 | NS      | $757627088.40  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.   | Taiwan Semiconductor Manufacturing Co. Ltd.   | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   3514485 | NS      | $1055856728.55 | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International of Washington, Inc.  | Expeditors International of Washington, Inc.  | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |   4576022 | NS      | $557817081.80  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $6655746.12    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JG Boswell Co.                                | JG Boswell Co.                                | CUSIP: 101205102<br>LEI: 549300F07JHRNLXLEC77 | Long             | EC               | CORP              | US        |      2485 | NS      | $1150555.00    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PSP Capital, Inc.                             | PSP Capital, Inc.                             | CUSIP: 69370AYM0<br>LEI: 549300B456N0WEIC5249 | Long             | STIV             | CORP              | CA        | 100000000 | PA      | $99772380.00   | 0.15%             | 2025-11-21      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Carlisle Cos., Inc.                           | Carlisle Cos., Inc.                           | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |    403991 | NS      | $131317274.55  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Japanese Yen                                  | Japanese Yen                                  | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | JP        |        -1 | OU      | $-0.01         | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $5151862.85    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AES Corp. (The)                               | AES Corp. (The)                               | CUSIP: 00809GY35<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | STIV             | CORP              | US        |  23631000 | PA      | $23622627.54   | 0.03%             | 2025-11-03      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                    | Alibaba Group Holding Ltd.                    | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |  37671592 | NS      | $801604355.05  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                  | Oracle Corp.                                  | CUSIP: 6840C2YL3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |  75000000 | PA      | $74832045.00   | 0.11%             | 2025-11-20      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Alphabet, Inc.                                | Alphabet, Inc., Class C                       | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   5094822 | NS      | $1435822736.04 | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1568989.59    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell plc                                     | Shell plc                                     | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |  12805177 | NS      | $480778595.64  | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Cummins, Inc.                                 | Cummins, Inc.                                 | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |    943076 | NS      | $412765503.68  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                             | Johnson & Johnson                             | CUSIP: 47816FZK0<br>LEI: 549300G0CFPGEF6X2043 | Long             | STIV             | CORP              | US        |  65000000 | PA      | $64652627.00   | 0.09%             | 2025-12-19      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Fidelity National Financial, Inc.             | Fidelity National Financial, Inc.             | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |   4297027 | NS      | $237367771.48  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                                     | Danone SA                                     | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               | CORP              | FR        |   6769033 | NS      | $597818261.72  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| CH Robinson Worldwide, Inc.                   | CH Robinson Worldwide, Inc.                   | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |   7566045 | NS      | $1165095269.55 | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Brenntag SE                                   | Brenntag SE                                   | CUSIP: N/A<br>LEI: NNROIXVWJ7CPSR27SV97       | Long             | EC               | CORP              | DE        |   1126149 | NS      | $62544911.53   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| British American Tobacco plc                  | British American Tobacco plc                  | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |  20248964 | NS      | $1037061807.79 | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle Capital Corp.                          | Nestle Capital Corp.                          | CUSIP: 64105GY57<br>LEI: 549300VIRTXBZ81J0S95 | Long             | STIV             | CORP              | CH        |  50000000 | PA      | $49972885.00   | 0.07%             | 2025-11-05      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Mills Music Trust                             | Mills Music Trust                             | CUSIP: 601158108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31592 | NS      | $758208.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $57465.98      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1992790.97    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                      | Engie SA                                      | CUSIP: 29287AZ37<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | STIV             | CORP              | FR        |  50000000 | PA      | $49816735.00   | 0.07%             | 2025-12-03      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PSP Capital, Inc.                             | PSP Capital, Inc.                             | CUSIP: 69370AYJ7<br>LEI: 549300B456N0WEIC5249 | Long             | STIV             | CORP              | CA        |  55000000 | PA      | $54892860.00   | 0.08%             | 2025-11-18      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Siemens Capital Co. LLC                       | Siemens Capital Co. LLC                       | CUSIP: 82619UAD6<br>LEI: EOSCVWUER252U910GR08 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49602525.00   | 0.07%             | 2026-01-13      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| NAVER Corp.                                   | NAVER Corp.                                   | CUSIP: N/A<br>LEI: 988400ULUQYDB2HQYJ61       | Long             | EC               | CORP              | KR        |   1857627 | NS      | $348149320.41  | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Ross Stores, Inc.                             | Ross Stores, Inc.                             | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |   1040944 | NS      | $165426820.48  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3169972.52    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| American Express Co.                          | American Express Co.                          | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |   1267879 | NS      | $457361991.67  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Svenska Handelsbanken AB                      | Svenska Handelsbanken AB, Class A             | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | EC               | CORP              | SE        |  10429006 | NS      | $136091600.35  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Franco-Nevada Corp.                           | Franco-Nevada Corp.                           | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |   2427224 | NS      | $453394471.33  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Groupe Bruxelles Lambert NV                   | Groupe Bruxelles Lambert NV                   | CUSIP: N/A<br>LEI: 549300KV0ZEHT2KVU152       | Long             | EC               | CORP              | BE        |   6081911 | NS      | $534542697.86  | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                      | Lloyds Banking Group plc                      | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               | CORP              | GB        | 332182803 | NS      | $389480859.38  | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1015171.84   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PSP Capital, Inc.                             | PSP Capital, Inc.                             | CUSIP: 69370AY40<br>LEI: 549300B456N0WEIC5249 | Long             | STIV             | CORP              | CA        |  51000000 | PA      | $50977779.30   | 0.07%             | 2025-11-04      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Amazon.com, Inc.                              | Amazon.com, Inc.                              | CUSIP: 02314PZJ3<br>LEI: ZXTILKJKG63JELOEG630 | Long             | STIV             | CORP              | US        |  42500000 | PA      | $42278660.00   | 0.06%             | 2025-12-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Engie SA                                      | Engie SA                                      | CUSIP: 29287BA73<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | STIV             | CORP              | FR        |  25000000 | PA      | $24812007.50   | 0.04%             | 2026-01-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE           | LVMH Moet Hennessy Louis Vuitton SE           | CUSIP: 50244MA85<br>LEI: IOG4E947OATN0KJYSD45 | Long             | STIV             | CORP              | FR        |  50000000 | PA      | $49625485.00   | 0.07%             | 2026-01-08      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| United States of America                      | U.S. Treasury Bills                           | CUSIP: 912797SN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  50000000 | PA      | $49085587.00   | 0.07%             | 2026-04-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wheaton Precious Metals Corp.                 | Wheaton Precious Metals Corp.                 | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |   6542920 | NS      | $631522638.40  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Pluxee NV                                     | Pluxee NV                                     | CUSIP: N/A<br>LEI: 213800RQNIQT48SEEO85       | Long             | EC               | CORP              | NL        |   1781470 | NS      | $34413592.34   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| IPG Photonics Corp.                           | IPG Photonics Corp.                           | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |   3319802 | NS      | $282581546.24  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4315565.92    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Apple, Inc.                                   | Apple, Inc.                                   | CUSIP: 03785DY67<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | STIV             | CORP              | US        |  75000000 | PA      | $74950462.50   | 0.11%             | 2025-11-06      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Shimano, Inc.                                 | Shimano, Inc.                                 | CUSIP: N/A<br>LEI: 529900L32YT3P9DECR10       | Long             | EC               | CORP              | JP        |   4397890 | NS      | $460748849.26  | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Becton Dickinson & Co.                        | Becton Dickinson & Co.                        | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |   7827190 | NS      | $1398797124.90 | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Oil Ltd.                             | Imperial Oil Ltd.                             | CUSIP: 453038408<br>LEI: 549300JZNB745JT5WY51 | Long             | EC               | CORP              | CA        |  10558962 | NS      | $933898425.08  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MS&AD Insurance Group Holdings, Inc.          | MS&AD Insurance Group Holdings, Inc.          | CUSIP: N/A<br>LEI: 529900CXROT5S2HMMP26       | Long             | EC               | CORP              | JP        |  23189560 | NS      | $478040302.18  | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Mexico SAB de CV                        | Grupo Mexico SAB de CV, Series B              | CUSIP: N/A<br>LEI: 529900JWLZAYET2ZGW20       | Long             | EC               | CORP              | MX        |  35279302 | NS      | $305006404.57  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                      | U.S. Treasury Bills                           | CUSIP: 912797QQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  40000000 | PA      | $39957077.60   | 0.06%             | 2025-11-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE           | LVMH Moet Hennessy Louis Vuitton SE           | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |   1249732 | NS      | $883339557.51  | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Agricole Corporate and Investment Bank | Credit Agricole Corporate and Investment Bank | CUSIP: 22533TY34<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | FR        |  10722000 | PA      | $10718536.79   | 0.02%             | 2025-11-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CK Asset Holdings Ltd.                        | CK Asset Holdings Ltd.                        | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | KY        |  54929000 | NS      | $271747323.42  | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                         | Walt Disney Co. (The)                         | CUSIP: 2546R2Y42<br>LEI: 549300GZKULIZ0WOW665 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49978050.00   | 0.07%             | 2025-11-04      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Schindler Holding AG                          | Schindler Holding AG                          | CUSIP: N/A<br>LEI: 5299007DRLI319H7Q933       | Long             | EC               | CORP              | CH        |   1687339 | NS      | $601030664.24  | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Newmont Corp.                                 | Newmont Corp.                                 | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |   6221162 | NS      | $503727487.14  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co. (The)                         | Walt Disney Co. (The)                         | CUSIP: 2546R2ZG4<br>LEI: 549300GZKULIZ0WOW665 | Long             | STIV             | CORP              | US        | 100000000 | PA      | $99497150.00   | 0.15%             | 2025-12-16      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Fomento Economico Mexicano SAB de CV          | Fomento Economico Mexicano SAB de CV          | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |   6677092 | NS      | $630050401.12  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Dentsply Sirona, Inc.                         | Dentsply Sirona, Inc.                         | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | EC               | CORP              | US        |  10435979 | NS      | $131597695.19  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp.                          | Barrick Mining Corp.                          | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |  15868592 | NS      | $520489817.60  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| PSP Capital, Inc.                             | PSP Capital, Inc.                             | CUSIP: 69370BAM4<br>LEI: 549300B456N0WEIC5249 | Long             | STIV             | CORP              | CA        |  50000000 | PA      | $49553175.00   | 0.07%             | 2026-01-21      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2972024.80    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chofu Seisakusho Co. Ltd.                     | Chofu Seisakusho Co. Ltd.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |   2102200 | NS      | $26654002.25   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan US Government Money Market Fund      | JPMorgan US Government Money Market Fund      | CUSIP: 4812C0670<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |    185022 | NS      | $185021.55     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co.                              | Weyerhaeuser Co.                              | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |  15173805 | NS      | $348997515.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd.                                  | Nutrien Ltd.                                  | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |   6438891 | NS      | $350597614.95  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Derwent London plc                            | Derwent London plc                            | CUSIP: N/A<br>LEI: 213800BXKQ9KZNUR1M61       | Long             | EC               | CORP              | GB        |   4966240 | NS      | $114995626.47  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Dollar General Corp.                          | Dollar General Corp.                          | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |   4406100 | NS      | $434705826.00  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Wal-Mart de Mexico SAB de CV                  | Wal-Mart de Mexico SAB de CV                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |  61958380 | NS      | $204832666.77  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co.                                   | Deere & Co.                                   | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |    381724 | NS      | $176215250.12  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories, Inc.                    | Bio-Rad Laboratories, Inc., Class A           | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |   1878739 | NS      | $600351047.45  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services, Inc.               | Universal Health Services, Inc., Class B      | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |   3368166 | NS      | $730925703.66  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FANUC Corp.                                   | FANUC Corp.                                   | CUSIP: N/A<br>LEI: 529900QTSW745LOKW705       | Long             | EC               | CORP              | JP        |  17670600 | NS      | $589693479.78  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                   | Cie Financiere Richemont SA (Registered)      | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |   4453017 | NS      | $880832194.68  | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1167491.12    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Orkla ASA                                     | Orkla ASA                                     | CUSIP: N/A<br>LEI: 549300PZS8G8RG6RVZ52       | Long             | EC               | CORP              | NO        |  16166787 | NS      | $164194931.33  | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                                    | Legrand SA                                    | CUSIP: N/A<br>LEI: 969500XXRPGD7HCAFA90       | Long             | EC               | CORP              | FR        |   1813338 | NS      | $313141172.59  | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Sodexo SA                                     | Sodexo SA                                     | CUSIP: N/A<br>LEI: 969500LCBOG12HXPYM84       | Long             | EC               | CORP              | FR        |   2131829 | NS      | $118040281.21  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| KT&G Corp.                                    | KT&G Corp.                                    | CUSIP: N/A<br>LEI: 988400ZJV6ISYBLQX875       | Long             | EC               | CORP              | KR        |   5242098 | NS      | $493343755.14  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Ambev SA                                      | Ambev SA                                      | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        | 166791911 | NS      | $385289314.41  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| SMC Corp.                                     | SMC Corp.                                     | CUSIP: N/A<br>LEI: 353800O40V08DOZ70X62       | Long             | EC               | CORP              | JP        |   1831956 | NS      | $627119811.85  | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresnillo plc                                 | Fresnillo plc                                 | CUSIP: N/A<br>LEI: 549300JXWH1UV5J0XV81       | Long             | EC               | CORP              | GB        |   4454810 | NS      | $130272804.33  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Investor AB                                   | Investor AB, Class A                          | CUSIP: N/A<br>LEI: 549300VEBQPHRZBKUX38       | Long             | EC               | CORP              | SE        |   4970940 | NS      | $163515727.98  | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holdings, Inc.                          | Roche Holdings, Inc.                          | CUSIP: 77119LY78<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | STIV             | CORP              | CH        | 100000000 | PA      | $99923000.00   | 0.15%             | 2025-11-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Canadian Dollar                               | Canadian Dollar                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CA        |   4944515 | OU      | $3525375.17    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems plc                               | BAE Systems plc                               | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               | CORP              | GB        |  21476029 | NS      | $529029492.50  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Investor AB                                   | Investor AB, Class B                          | CUSIP: N/A<br>LEI: 549300VEBQPHRZBKUX38       | Long             | EC               | CORP              | SE        |  11255824 | NS      | $370618837.43  | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Meta Platforms, Inc.                          | Meta Platforms, Inc., Class A                 | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |   2449415 | NS      | $1588078215.25 | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                                 | Medtronic plc                                 | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |   6658084 | NS      | $603888218.80  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart, Inc.                                 | Walmart, Inc.                                 | CUSIP: 93114EYL5<br>LEI: Y87794H0US1R65VBXU25 | Long             | STIV             | CORP              | US        |  42500000 | PA      | $42407524.25   | 0.06%             | 2025-11-20      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                  | Oracle Corp.                                  | CUSIP: 6840C2YQ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        | 100000000 | PA      | $99730230.00   | 0.15%             | 2025-11-24      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.             | Philip Morris International, Inc.             | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |   4553943 | NS      | $657270593.19  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson plc                      | Willis Towers Watson plc                      | CUSIP: N/A<br>LEI: 549300WHC56FF48KL350       | Long             | EC               | CORP              | IE        |   2511169 | NS      | $786247013.90  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE           | LVMH Moet Hennessy Louis Vuitton SE           | CUSIP: 50244MAF9<br>LEI: IOG4E947OATN0KJYSD45 | Long             | STIV             | CORP              | FR        |  80000000 | PA      | $79341560.00   | 0.12%             | 2026-01-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Reckitt Benckiser Group plc                   | Reckitt Benckiser Group plc                   | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |   9376596 | NS      | $717207217.70  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Comcast Corp.                                 | Comcast Corp., Class A                        | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |  24979449 | NS      | $695302962.92  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                      | Engie SA                                      | CUSIP: 29287AYC8<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | STIV             | CORP              | FR        |  75000000 | PA      | $74901420.00   | 0.11%             | 2025-11-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Province of Quebec Canada                     | Province of Quebec                            | CUSIP: 74800KAV4<br>LEI: 549300WN65YFEQH74Y36 | Long             | STIV             | NUSS              | CA        |  75000000 | PA      | $74274375.00   | 0.11%             | 2026-01-29      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Engie SA                                      | Engie SA                                      | CUSIP: 29287AY38<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | STIV             | CORP              | FR        |  43333000 | PA      | $43319059.77   | 0.06%             | 2025-11-03      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Diageo plc                                    | Diageo plc                                    | CUSIP: N/A<br>LEI: 213800ZVIELEA55JMJ32       | Long             | EC               | CORP              | GB        |   9616920 | NS      | $221206039.95  | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $509757.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hoshizaki Corp.                               | Hoshizaki Corp.                               | CUSIP: N/A<br>LEI: 5299001QAMLGU3SRBG20       | Long             | EC               | CORP              | JP        |   6107800 | NS      | $214904327.57  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| US Bancorp                                    | US Bancorp                                    | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |   5965007 | NS      | $278446526.76  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Bausch & Lomb, Inc.                           | Bausch & Lomb, Inc.                           | CUSIP: 071707AG8<br>LEI: 549300JPRACCHT4C0232 | Long             | DBT              | CORP              | US        |   5467000 | PA      | $5384995.00    | 0.01%             | 2028-08-01      | Fixed         | 7.12%                 | No            |                  3 | On Loan: No      |
| Unilever plc                                  | Unilever plc                                  | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |  12894404 | NS      | $780839625.32  | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Guoco Group Ltd.                              | Guoco Group Ltd.                              | CUSIP: N/A<br>LEI: 3OIHUMDMI0Z4XVPQ8V78       | Long             | EC               | CORP              | BM        |  12748580 | NS      | $127148651.00  | 0.19%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Province of Quebec Canada                     | Province of Quebec                            | CUSIP: 74800KAE2<br>LEI: 549300WN65YFEQH74Y36 | Long             | STIV             | NUSS              | CA        |  75000000 | PA      | $74394532.50   | 0.11%             | 2026-01-14      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Power Corp. of Canada                         | Power Corp. of Canada                         | CUSIP: 739239101<br>LEI: 549300BE2CB8T87IJV50 | Long             | EC               | CORP              | CA        |  10763570 | NS      | $504200598.20  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| T Hasegawa Co. Ltd.                           | T Hasegawa Co. Ltd.                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |   3002800 | NS      | $52610563.19   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon plc                                    | Haleon plc                                    | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        | 107935852 | NS      | $501926745.76  | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| PPG Industries, Inc.                          | PPG Industries, Inc.                          | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |   4627995 | NS      | $452386511.25  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV, Inc.                                     | NOV, Inc.                                     | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |  28255276 | NS      | $412527029.60  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices, Inc.                          | Analog Devices, Inc.                          | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |   1391521 | NS      | $325796811.73  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd.                                      | SLB Ltd.                                      | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |  20475698 | NS      | $738353669.88  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                         | Colgate-Palmolive Co.                         | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |   5342322 | NS      | $411625910.10  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Kreditanstalt fuer Wiederaufbau               | Kreditanstalt fuer Wiederaufbau               | CUSIP: 48246TYE3<br>LEI: 549300GDPG70E3MBBU98 | Long             | STIV             | CORP              | DE        |  50000000 | PA      | $49925015.00   | 0.07%             | 2025-11-14      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Itausa SA                                     | Itausa SA (Preference)                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        | 167347694 | NS      | $362382668.07  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                      | U.S. Treasury Bills                           | CUSIP: 912797PV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  40000000 | PA      | $39437992.40   | 0.06%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances, Inc.      | International Flavors & Fragrances, Inc.      | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |   6474034 | NS      | $407669920.98  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1476001.76    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Industrias Penoles SAB de CV                  | Industrias Penoles SAB de CV                  | CUSIP: N/A<br>LEI: 549300WA2HB7776CB324       | Long             | EC               | CORP              | MX        |   3190717 | NS      | $132085396.43  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Mobis Co. Ltd.                        | Hyundai Mobis Co. Ltd.                        | CUSIP: N/A<br>LEI: 988400HJA9E0ZVDHRS65       | Long             | EC               | CORP              | KR        |    999985 | NS      | $221134137.23  | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Indian Rupee                                  | Indian Rupee                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | IN        |       169 | OU      | $1.90          | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkeley Group Holdings plc                   | Berkeley Group Holdings plc                   | CUSIP: N/A<br>LEI: 2138009OQSSLVVHQAL78       | Long             | EC               | CORP              | GB        |   6528960 | NS      | $345869867.07  | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken Holding NV                           | Heineken Holding NV                           | CUSIP: N/A<br>LEI: 724500M1WJLFM9TYBS04       | Long             | EC               | CORP              | NL        |   3269505 | NS      | $220793198.83  | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Province of Quebec Canada                     | Province of Quebec                            | CUSIP: 74800JYM1<br>LEI: 549300WN65YFEQH74Y36 | Long             | STIV             | NUSS              | CA        |  43333000 | PA      | $43233758.76   | 0.06%             | 2025-11-21      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Jardine Matheson Holdings Ltd.                | Jardine Matheson Holdings Ltd.                | CUSIP: N/A<br>LEI: 2138009KENVUNWOLPK41       | Long             | EC               | CORP              | BM        |   7051271 | NS      | $414012412.55  | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Brazilian Real                                | Brazilian Real                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | BR        |         0 | OU      | $0.02          | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| USS Co. Ltd.                                  | USS Co. Ltd.                                  | CUSIP: N/A<br>LEI: 5299000RRQD6UZXG4W72       | Long             | EC               | CORP              | JP        |   2597200 | NS      | $28667591.29   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                      | U.S. Treasury Bills                           | CUSIP: 912797RL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  60000000 | PA      | $59412265.20   | 0.09%             | 2026-02-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Singapore Dollar                              | Singapore Dollar                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SG        |         0 | OU      | $0.01          | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                      | Engie SA                                      | CUSIP: 29287BA65<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | STIV             | CORP              | FR        |  86667000 | PA      | $86024797.53   | 0.13%             | 2026-01-06      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4636657.73    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $5798499.55    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Secom Co. Ltd.                                | Secom Co. Ltd.                                | CUSIP: N/A<br>LEI: 529900TYCL9N3E9PGE47       | Long             | EC               | CORP              | JP        |  12674260 | NS      | $428450970.97  | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                      | U.S. Treasury Bills                           | CUSIP: 912797QZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  40000000 | PA      | $39806574.80   | 0.06%             | 2025-12-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2715138.32   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                      | Engie SA                                      | CUSIP: 29287AYH7<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | STIV             | CORP              | FR        |  75000000 | PA      | $74860605.00   | 0.11%             | 2025-11-17      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE           | LVMH Moet Hennessy Louis Vuitton SE           | CUSIP: 50244MAC6<br>LEI: IOG4E947OATN0KJYSD45 | Long             | STIV             | CORP              | FR        |  50000000 | PA      | $49604315.00   | 0.07%             | 2026-01-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Engie SA                                      | Engie SA                                      | CUSIP: 29287AZ29<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | STIV             | CORP              | FR        | 100000000 | PA      | $99644530.00   | 0.15%             | 2025-12-02      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Walt Disney Co. (The)                         | Walt Disney Co. (The)                         | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |   2500477 | NS      | $281603719.74  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                               | Microsoft Corp.                               | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    391945 | NS      | $202953040.45  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                                   | Apple, Inc.                                   | CUSIP: 03785DY59<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49972600.00   | 0.07%             | 2025-11-05      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.            | General Motors Financial Co., Inc.            | CUSIP: 37046TY32<br>LEI: 5493008B6JBRUJ90QL97 | Long             | STIV             | CORP              | US        |  31459000 | PA      | $31448454.94   | 0.05%             | 2025-11-03      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ONEOK, Inc.                                   | ONEOK, Inc.                                   | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |   5659323 | NS      | $379174641.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| PSP Capital, Inc.                             | PSP Capital, Inc.                             | CUSIP: 69370AYK4<br>LEI: 549300B456N0WEIC5249 | Long             | STIV             | CORP              | CA        |  85000000 | PA      | $84825129.50   | 0.12%             | 2025-11-19      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)           | Bank of New York Mellon Corp. (The)           | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |   7468582 | NS      | $806084055.26  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Life Insurance Co. Ltd.               | Samsung Life Insurance Co. Ltd.               | CUSIP: N/A<br>LEI: 988400VYE6E0WYSM4S92       | Long             | EC               | CORP              | KR        |   2998664 | NS      | $324063501.68  | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferguson Enterprises, Inc.                    | Ferguson Enterprises, Inc.                    | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |    444071 | NS      | $110351643.50  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Hongkong Land Holdings Ltd.                   | Hongkong Land Holdings Ltd.                   | CUSIP: N/A<br>LEI: 213800XCHYNRPAYGXW28       | Long             | EC               | CORP              | BM        |  31759300 | NS      | $194059568.55  | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd.                                | AIA Group Ltd.                                | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |  41248000 | NS      | $401373425.52  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| BXP, Inc.                                     | BXP, Inc.                                     | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |   2473129 | NS      | $176062053.51  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                     | Nestle SA (Registered)                        | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |   6438767 | NS      | $615214275.19  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA Healthcare, Inc.                          | HCA Healthcare, Inc.                          | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |   2734128 | NS      | $1256823959.04 | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Hirose Electric Co. Ltd.                      | Hirose Electric Co. Ltd.                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |   1258915 | NS      | $168653385.87  | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Equity Residential                            | Equity Residential                            | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |   6189955 | NS      | $367930925.20  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health, Inc.                         | Elevance Health, Inc.                         | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |   2844869 | NS      | $902392446.80  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Province of Quebec Canada                     | Province of Quebec                            | CUSIP: 74800KAC6<br>LEI: 549300WN65YFEQH74Y36 | Long             | STIV             | NUSS              | CA        |  75000000 | PA      | $74410575.00   | 0.11%             | 2026-01-12      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Omnicom Group, Inc.                           | Omnicom Group, Inc.                           | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |   4515387 | NS      | $338744332.74  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold bullion                                  | Gold bullion                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | COMM             |  | US        |   1946358 | OU      | $7784964586.09 | 11.37%            |  |  |  | No            |                  2 | On Loan: No      |
| Unilever Finance Netherlands BV               | Unilever Finance Netherlands BV               | CUSIP: 90478CY35<br>LEI: 549300SWJ4YK4LLNT176 | Long             | STIV             | CORP              | NL        |  50000000 | PA      | $49983675.00   | 0.07%             | 2025-11-03      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Douglas Emmett, Inc.                          | Douglas Emmett, Inc.                          | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   9162021 | NS      | $118556551.74  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway, Inc.                      | Berkshire Hathaway, Inc., Class A             | CUSIP: 084670108<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |       434 | NS      | $310631160.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE           | LVMH Moet Hennessy Louis Vuitton SE           | CUSIP: 50244MA93<br>LEI: IOG4E947OATN0KJYSD45 | Long             | STIV             | CORP              | FR        |  50000000 | PA      | $49620185.00   | 0.07%             | 2026-01-09      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Engie SA                                      | Engie SA                                      | CUSIP: 29287BAW8<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | STIV             | CORP              | FR        |  60000000 | PA      | $59397732.00   | 0.09%             | 2026-01-30      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Heineken NV                                   | Heineken NV                                   | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |   1762645 | NS      | $136485654.42  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                  | Oracle Corp.                                  | CUSIP: 6840C3AG8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |  12000000 | PA      | $11896575.60   | 0.02%             | 2026-01-16      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| South Korea Won                               | South Korea Won                               | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | KR        |       -22 | OU      | $-0.02         | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Sompo Holdings, Inc.                          | Sompo Holdings, Inc.                          | CUSIP: N/A<br>LEI: 353800CWW4SRGEYEB512       | Long             | EC               | CORP              | JP        |  11283000 | NS      | $343854758.37  | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Prosus NV                                     | Prosus NV                                     | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               | CORP              | NL        |  18115368 | NS      | $1252106139.91 | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Wendel SE                                     | Wendel SE                                     | CUSIP: N/A<br>LEI: 969500M98ZMIZYJD5O34       | Long             | EC               | CORP              | FR        |    867489 | NS      | $81422829.73   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp.                                 | Keyence Corp.                                 | CUSIP: N/A<br>LEI: 529900M7PQBS7A89DZ11       | Long             | EC               | CORP              | JP        |    375300 | NS      | $139286889.70  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                  | Samsung Electronics Co. Ltd. (Preference)     | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |  12016075 | NS      | $709128210.61  | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Province of Quebec Canada                     | Province of Quebec                            | CUSIP: 74800KA51<br>LEI: 549300WN65YFEQH74Y36 | Long             | STIV             | NUSS              | CA        | 100000000 | PA      | $99289030.00   | 0.15%             | 2026-01-05      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Export Development Corp.                      | Export Development Corp.                      | CUSIP: 30215GYK2<br>LEI: N/A                  | Long             | STIV             | CORP              | CA        |  86667000 | PA      | $86491473.32   | 0.13%             | 2025-11-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EURO                                          | EURO                                          | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | XX        |        -0 | OU      | $-0.06         | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.                  | Charter Communications, Inc., Class A         | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |   1020339 | NS      | $238596071.76  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Province of Quebec Canada                     | Province of Quebec                            | CUSIP: 74800JZ32<br>LEI: 549300WN65YFEQH74Y36 | Long             | STIV             | NUSS              | CA        |  30000000 | PA      | $29892888.00   | 0.04%             | 2025-12-03      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Cargill, Inc.                                 | Cargill, Inc.                                 | CUSIP: 14178LY38<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | STIV             | CORP              | US        |  14769000 | PA      | $14764164.63   | 0.02%             | 2025-11-03      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Schindler Holding AG                          | Schindler Holding AG (Registered)             | CUSIP: N/A<br>LEI: 5299007DRLI319H7Q933       | Long             | EC               | CORP              | CH        |    211870 | NS      | $71620560.39   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| NRW Bank                                      | NRW Bank                                      | CUSIP: 62939LZ10<br>LEI: 52990002O5KK6XOGJ020 | Long             | STIV             | CORP              | DE        |  85000000 | PA      | $84719126.00   | 0.12%             | 2025-12-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| British Pound                                 | British Pound                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |         1 | OU      | $1.10          | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton, Inc.        | LVMH Moet Hennessy Louis Vuitton, Inc.        | CUSIP: 55078TYE1<br>LEI: 529900YISWVEKZT7CN18 | Long             | STIV             | CORP              | US        |  44000000 | PA      | $43932666.80   | 0.06%             | 2025-11-14      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Province of Quebec Canada                     | Province of Quebec                            | CUSIP: 74800JYA7<br>LEI: 549300WN65YFEQH74Y36 | Long             | STIV             | NUSS              | CA        |  78000000 | PA      | $77914387.20   | 0.11%             | 2025-11-10      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Agnico Eagle Mines Ltd.                       | Agnico Eagle Mines Ltd.                       | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |   1999447 | NS      | $321582299.57  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                      | Engie SA                                      | CUSIP: 29287BAS7<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | STIV             | CORP              | FR        |  60000000 | PA      | $59424132.00   | 0.09%             | 2026-01-26      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Texas Instruments, Inc.                       | Texas Instruments, Inc.                       | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |   2442932 | NS      | $394435800.72  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce, Inc.                              | Salesforce, Inc.                              | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |   3095205 | NS      | $806022334.05  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3492081.62    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Export Development Corp.                      | Export Development Corp.                      | CUSIP: 30215GZ47<br>LEI: N/A                  | Long             | STIV             | CORP              | CA        |  88850000 | PA      | $88528496.28   | 0.13%             | 2025-12-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mitsubishi Electric Corp.                     | Mitsubishi Electric Corp.                     | CUSIP: N/A<br>LEI: 549300TRXM9Y6561AX39       | Long             | EC               | CORP              | JP        |  21523500 | NS      | $611108283.35  | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Extra Space Storage, Inc.                     | Extra Space Storage, Inc.                     | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1155209 | NS      | $154266609.86  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday, Inc.                                 | Workday, Inc., Class A                        | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |   2260948 | NS      | $542446644.16  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                             | Johnson & Johnson                             | CUSIP: 47816GAT6<br>LEI: 549300G0CFPGEF6X2043 | Long             | STIV             | CORP              | US        |  72270000 | PA      | $71590568.05   | 0.10%             | 2026-01-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Province of Quebec Canada                     | Province of Quebec                            | CUSIP: 74800JYR0<br>LEI: 549300WN65YFEQH74Y36 | Long             | STIV             | NUSS              | CA        |  75000000 | PA      | $74796120.00   | 0.11%             | 2025-11-25      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Noble Corp. plc                               | Noble Corp. plc                               | CUSIP: N/A<br>LEI: 549300I3HBUNXO0OG954       | Long             | EC               | CORP              | GB        |   9141720 | NS      | $268309482.00  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Province of Quebec Canada                     | Province of Quebec                            | CUSIP: 74800KA77<br>LEI: 549300WN65YFEQH74Y36 | Long             | STIV             | NUSS              | CA        | 100000000 | PA      | $99267620.00   | 0.14%             | 2026-01-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                  | Samsung Electronics Co. Ltd.                  | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |  11473361 | NS      | $863671241.18  | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Merck KGaA                                    | Merck KGaA                                    | CUSIP: N/A<br>LEI: 529900OAREIS0MOPTW25       | Long             | EC               | CORP              | DE        |   6071389 | NS      | $795313260.41  | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Henkel AG & Co. KGaA                          | Henkel AG & Co. KGaA (Preference)             | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EC               | CORP              | DE        |   3516726 | NS      | $284900150.92  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** First Eagle Funds

**Signature:** Shuang Wu

**Name of Signer:** Shuang Wu

**Title:** Treasurer