# EDGAR Filing Document

**Accession Number:** 0002050541
**File Stem:** 0001752724-25-211700
**Filing Date:** 2025-8
**Character Count:** 27118
**Document Hash:** 675ff3ac445d4e37146072e9b106f25a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211700.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211700

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** First Eagle Tactical Municipal Opportunities Fund
- **CENTRAL INDEX KEY:** 0002050541

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24039
- **FILM NUMBER:** 251272989

**BUSINESS ADDRESS:**
- **STREET 1:** 1345 AVENUE OF AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** (212) 698-3300

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

## 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 Tactical Municipal Opportunities Fund

- **b. Investment Company Act file number:** 811-24039

- **c. CIK number of Registrant:** 0002050541

- **d. LEI of Registrant:** 254900LLE80TW1LUF777

- **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 Tactical Municipal Opportunities Fund

- **c. LEI of Series:** 254900LLE80TW1LUF777

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $23448523.10

**Total Liabilities:** $8374480.52

**Net Assets:** $15074042.58

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -3.98264171 | **1-Year:** -53.46317489 | **5-Year:** -309.31108286 | **10-Year:** -1382.23664635 | **30-Year:** -1150.45443135

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -20.73513549 | **1-Year:** -462.46233023 | **5-Year:** -2237.91960875 | **10-Year:** -4361.99401287 | **30-Year:** -1970.57678303

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A |  |  | 0.40%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $312.70                  | $-26270.12                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Florida Development Finance Corp.                                   | Florida Development Finance Corp., Series 2024                           | CUSIP: 340618DU8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |      5000 | PA      | $4546.44      | 0.03%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Penitas TX                                                  | City of Penitas, Series 2025                                             | CUSIP: 70722SAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $4930.80      | 0.03%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Western Washington University                                       | Western Washington University, Series 2019                               | CUSIP: 959878RA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $3705.97      | 0.02%             | 2044-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                            | Public Finance Authority                                                 | CUSIP: 74448DAS5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    700000 | PA      | $700030.38    | 4.64%             | 2030-06-05      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| DuBois Hospital Authority                                           | DuBois Hospital Authority, Series 2018                                   | CUSIP: 263804BQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $4293.70      | 0.03%             | 2048-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Industrial Development Agency                         | New York City Industrial Development Agency, Series 2007                 | CUSIP: 64971PJR7<br>LEI: 549300XR20ZR5DHL9534 | Long             | STIV             | MUN               | US        |    470000 | PA      | $470000.00    | 3.12%             | 2042-10-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                           | New Jersey Economic Development Authority, Series 2025                   | CUSIP: 64578TAB0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    700000 | PA      | $714594.02    | 4.74%             | 2045-01-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Illinois Finance Authority                                          | Illinois Finance Authority, Series 2018 A                                | CUSIP: 45204EJ66<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    400000 | PA      | $380571.80    | 2.52%             | 2058-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                | New Hope Cultural Education Facilities Finance Corp., Series 2025 A      | CUSIP: 64542PGQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $722970.72    | 4.80%             | 2056-07-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue         | Metropolitan Washington Airports Authority Aviation Revenue              | CUSIP: 592647PD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998219.71    | 6.62%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Point Phase 1 Public Infrastructure District No. 1                  | Point Phase 1 Public Infrastructure District No. 1, Series 2025 B        | CUSIP: 73058EAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $489583.75    | 3.25%             | 2055-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Natchez-Adams School District                                       | Natchez-Adams School District                                            | CUSIP: 631768AV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $3205.05      | 0.02%             | 2040-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority                       | Delaware State Economic Development Authority, Series 2020 A             | CUSIP: 246387SV7<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |      5000 | PA      | $4951.98      | 0.03%             | 2045-10-01      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                                               | Children's Trust Fund, Series 2008 B                                     | CUSIP: 16876QBM0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  12695000 | PA      | $333705.85    | 2.21%             | 2057-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Nolan County Hospital District                                      | Nolan County Hospital District, Series 2014                              | CUSIP: 65528GAZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $4995.45      | 0.03%             | 2025-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DuBois Hospital Authority                                           | DuBois Hospital Authority, Series 2018                                   | CUSIP: 263804BP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $3819.47      | 0.03%             | 2048-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clarksville Public Educational Facilities Board                     | Clarksville Public Educational Facilities Board, Series 2024 B           | CUSIP: 18233PBC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505666.00    | 3.35%             | 2056-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Norman Regional Hospital Authority                                  | Norman Regional Hospital Authority, Series 2016                          | CUSIP: 656178DN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $4009.16      | 0.03%             | 2037-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Northeastern Illinois University                                    | Northeastern Illinois University                                         | CUSIP: 66442RCE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $4587.86      | 0.03%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                          | City of Los Angeles Department of Airports                               | CUSIP: 5444453C1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000608.72   | 6.64%             | 2055-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                   | Florida Development Finance Corp., Series 2025 A                         | CUSIP: 340618DZ7<br>LEI: 549300HC854CNBLMWC48 | Long             | STIV             | MUN               | US        |    600000 | PA      | $616687.86    | 4.09%             | 2057-07-01      | Variable      | 8.25%                 | Yes           |                  2 | On Loan: No      |
| County of Hamilton OH                                               | County of Hamilton, Series 2021 B                                        | CUSIP: 4072722B8<br>LEI: 549300TO1E3N4E4YIO28 | Long             | STIV             | MUN               | US        |    500000 | PA      | $500000.00    | 3.32%             | 2051-08-15      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority (The)                      | Charlotte-Mecklenburg Hospital Authority (The), Series 2018 H            | CUSIP: 160853UN5<br>LEI: 549300XOH4JU704GMZ32 | Long             | STIV             | MUN               | US        |    500000 | PA      | $500000.00    | 3.32%             | 2048-01-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Olney Hamilton Hospital District                                    | Olney Hamilton Hospital District, Series 2024                            | CUSIP: 681280AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $709468.48    | 4.71%             | 2054-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp.                              | San Antonio Education Facilities Corp., Series 2021 A                    | CUSIP: 796247DJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $392445.50    | 2.60%             | 2046-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Athens-Clarke County GA Unified Government Water & Sewerage Revenue | Athens-Clarke County, Series 2015                                        | CUSIP: 047061CV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5000.00      | 0.03%             | 2029-01-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| County of Fort Bend TX Toll Road Revenue                            | County of Fort Bend, Series 2021                                         | CUSIP: 346817DW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $3425.01      | 0.02%             | 2051-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                         | Washington State Housing Finance Commission, Series 2025 B               | CUSIP: 93978LJR8<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    700000 | PA      | $712037.76    | 4.72%             | 2064-07-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                   | Indiana Housing & Community Development Authority, Series 2017 C 3       | CUSIP: 45505TSA0<br>LEI: 549300QRKDYVNHT1OE86 | Long             | STIV             | MUN               | US        |    500000 | PA      | $500000.00    | 3.32%             | 2047-07-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                      | Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Class 2 | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $255757.98    | 1.70%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Berea KY                                                    | City of Berea, Series 2003B                                              | CUSIP: 083536BE1<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |    500000 | PA      | $500000.00    | 3.32%             | 2029-06-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| JP Morgan U.S. Government Money Market Fund                         | JP Morgan U.S. Government Money Market Fund, Capital Shares              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |     69762 | NS      | $69761.83     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| North Carolina Housing Finance Agency                               | North Carolina Housing Finance Agency, Series 52-C                       | CUSIP: 6582074F9<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | STIV             | MUN               | US        |    500000 | PA      | $500000.00    | 3.32%             | 2049-07-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| City of Wichita KS                                                  | City of Wichita, Series III-2019                                         | CUSIP: 967249QT3<br>LEI: 549300Y20JVN3VP2V718 | Long             | DBT              | MUN               | US        |      5000 | PA      | $4506.05      | 0.03%             | 2034-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Wyandotte County-Kansas City Unified Government                     | Wyandotte County-Kansas City Unified Government, Series 2015 A           | CUSIP: 98267VDD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $609107.33    | 4.04%             | 2032-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                   | Florida Development Finance Corp., Series 2024 A                         | CUSIP: 340618DY0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    600000 | PA      | $571206.60    | 3.79%             | 2059-07-15      | Variable      | 10.00%                | Yes           |                  2 | On Loan: No      |
| Vail Home Partners Corp.                                            | Vail Home Partners Corp., Series 2025                                    | CUSIP: 91879VAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $364608.79    | 2.42%             | 2055-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                | New Hope Cultural Education Facilities Finance Corp., Series 2021 A-1    | CUSIP: 64542PGC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $461678.55    | 3.06%             | 2057-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                           | Indiana Finance Authority, Series 2013 A                                 | CUSIP: 45506DEP6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |      5000 | PA      | $3709.46      | 0.02%             | 2042-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Kingston One Community Development District                         | Kingston One Community Development District, Series 2025                 | CUSIP: 496631AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $597269.34    | 3.96%             | 2057-05-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank               | California Infrastructure & Economic Development Bank, Series 2025 A     | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    600000 | PA      | $568561.80    | 3.77%             | 2065-01-01      | Variable      | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                   | Oregon State Facilities Authority, Series 2021 A                         | CUSIP: 68608JYY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $679772.54    | 4.51%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Denton TX                                                 | County of Denton, Series 2025                                            | CUSIP: 24880GAS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $704919.67    | 4.68%             | 2055-12-31      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                            | Public Finance Authority, Series 2025 D                                  | CUSIP: 74448DAR7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    700000 | PA      | $700032.55    | 4.64%             | 2030-06-16      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Development Authority of Burke County (The)                         | Development Authority of Burke County (The), Series 2018                 | CUSIP: 121342PQ6<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |    600000 | PA      | $600000.00    | 3.98%             | 2052-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                  | Greater Orlando Aviation Authority, Series 2013                          | CUSIP: 392274F76<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5000.06      | 0.03%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                           | Indiana Finance Authority, Series 2017                                   | CUSIP: 45506DE92<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |      5000 | PA      | $4384.44      | 0.03%             | 2031-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                     | New York City Municipal Water Finance Authority, Series DD-2             | CUSIP: 64972GDC5<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | STIV             | MUN               | US        |    430000 | PA      | $430000.00    | 2.85%             | 2043-06-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL                                             | County of Palm Beach, Series 2021 A                                      | CUSIP: 696547HN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $719953.83    | 4.78%             | 2057-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Berks County Municipal Authority (The)                              | Berks County Municipal Authority (The), Series 2024 B-1                  | CUSIP: 084538JK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $722038.00    | 4.79%             | 2044-06-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                 | California Public Finance Authority, Series 2025 C                       | CUSIP: 13057UAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $76710.74     | 0.51%             | 2033-09-01      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Spring Valley Community Infrastructure District No. 1               | Spring Valley Community Infrastructure District No. 1, Series 2025       | CUSIP: 850072AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $701499.40    | 4.65%             | 2054-09-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                  | Greater Orlando Aviation Authority                                       | CUSIP: 392275FJ7<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023146.10   | 6.79%             | 2048-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** First Eagle Tactical Municipal Opportunities Fund

**Signature:** Shuang Wu

**Name of Signer:** Shuang Wu

**Title:** Treasurer