FEHCX Holdings — First Eagle High Yield Municipal Fund
Data updated: 2026-09-28
FEHCX holds 1,770 securities. The top 10 make up 15.8% of net assets, led by Public Finance Authority, Series 2025 (3.07%) and Florida Development Finance Corp., Series 2025 B (2.52%). Municipal Bonds (99.8%) and Government Bonds (0.2%) are the largest sectors, and 120.4% of the portfolio is in United States. Debt holdings: 1,746 positions, 92.4% of assets.
Holdings cover 120.69% of net asset value (97.57% of total assets; remainder is cash and receivables). As of July 31, 2026 · N-PORT.
FEHCX Portfolio Holdings
1,770 holdings of First Eagle High Yield Municipal Fund by percentage of net assets, from the fund's SEC N-PORT filing as of July 31, 2026. The 100 largest are listed below; the interactive table on this page lists all 1,770.
| Holding | Ticker | Sector | % of net assets | Value (USD) |
|---|---|---|---|---|
| Public Finance Authority, Series 2025 | — | Municipal Bonds | 3.07% | $226.15M |
| Florida Development Finance Corp., Series 2025 B | — | Municipal Bonds | 2.52% | $185.25M |
| Florida Development Finance Corp., Series 2024 | — | Municipal Bonds | 1.89% | $139.46M |
| New Hope Cultural Education Facilities Finance Corp., Series 2021 A-1 | — | Municipal Bonds | 1.69% | $124.67M |
| Atlanta Development Authority (The), Series 2024-1, Class A | — | Municipal Bonds | 1.65% | $121.77M |
| State of Nevada Department of Business & Industry, Series 2025 B | — | Municipal Bonds | 1.25% | $92.16M |
| Public Finance Authority, Series 2024 | — | Municipal Bonds | 1.20% | $88.15M |
| City of Los Angeles Department of Airports | — | Municipal Bonds | 0.84% | $61.96M |
| California Infrastructure & Economic Development Bank, Series 2025 B | — | Municipal Bonds | 0.84% | $61.92M |
| Michigan State Housing Development Authority | — | Municipal Bonds | 0.82% | $60.12M |
| Chicago Board of Education, Series 2017 A | — | Municipal Bonds | 0.79% | $58.12M |
| Florida Development Finance Corp., Series 2024 | — | Municipal Bonds | 0.75% | $55.23M |
| Metropolitan Pier & Exposition Authority | — | Municipal Bonds | 0.74% | $54.20M |
| Berks County Municipal Authority (The), Series 2024 A-3 | — | Municipal Bonds | 0.72% | $52.99M |
| Black Belt Energy Gas District, Series 2025 C | — | Municipal Bonds | 0.71% | $52.66M |
| Public Finance Authority, Series 2025 | — | Municipal Bonds | 0.65% | $48.14M |
| Massachusetts Development Finance Agency, Series 2025 A-1 | — | Municipal Bonds | 0.65% | $47.92M |
| San Francisco City & County Airport Comm-San Francisco International Airport | — | Municipal Bonds | 0.65% | $47.86M |
| Washington State Housing Finance Commission, Series 2025 A | — | Municipal Bonds | 0.63% | $46.15M |
| New York Transportation Development Corp., Series 2024 A | — | Municipal Bonds | 0.59% | $43.61M |
| California Community Housing Agency, Series 2021 A | — | Municipal Bonds | 0.55% | $40.79M |
| Public Finance Authority, Series 2024 A | — | Municipal Bonds | 0.55% | $40.44M |
| Washington Metropolitan Area Transit Authority Dedicated Revenue | — | Municipal Bonds | 0.54% | $40.01M |
| Connecticut State Health & Educational Facilities Authority, Series 2013A | — | Municipal Bonds | 0.54% | $40.00M |
| Berks County Municipal Authority (The), Series 2024 B-1 | — | Municipal Bonds | 0.54% | $39.53M |
| Connecticut State Health & Educational Facilities Authority, Series 2017 C-3 | — | Municipal Bonds | 0.53% | $39.15M |
| City of Chicago, Series 2025 A | — | Municipal Bonds | 0.52% | $38.66M |
| Greater Orlando Aviation Authority | — | Municipal Bonds | 0.52% | $38.37M |
| Louisiana Public Facilities Authority, Series 2024 | — | Municipal Bonds | 0.52% | $38.02M |
| Public Finance Authority, Series 2025 | — | Municipal Bonds | 0.50% | $37.08M |
| New Jersey Transportation Trust Fund Authority | — | Municipal Bonds | 0.49% | $35.86M |
| State of Illinois | — | Municipal Bonds | 0.48% | $35.44M |
| Wisconsin Health & Educational Facilities Authority, Series 2024 | — | Municipal Bonds | 0.48% | $35.04M |
| Orange County Health Facilities Authority | — | Municipal Bonds | 0.47% | $34.66M |
| Pennsylvania Housing Finance Agency | — | Municipal Bonds | 0.47% | $34.46M |
| Pennsylvania Housing Finance Agency | — | Municipal Bonds | 0.45% | $33.05M |
| South Carolina Jobs-Economic Development Authority, Series 2025 A1 | — | Municipal Bonds | 0.44% | $32.71M |
| Savannah Georgia Convention Center Authority, Series 2025 B | — | Municipal Bonds | 0.44% | $32.66M |
| Indiana Housing & Community Development Authority | — | Municipal Bonds | 0.43% | $31.62M |
| Louisiana Public Facilities Authority, Series 2024 | — | Municipal Bonds | 0.42% | $30.86M |
| Pennsylvania Housing Finance Agency | — | Municipal Bonds | 0.42% | $30.71M |
| San Francisco City & County Airport Commission-San Francisco International Airport, Series 2025 D | — | Municipal Bonds | 0.42% | $30.69M |
| Public Finance Authority, Series 2017 | — | Municipal Bonds | 0.41% | $30.44M |
| San Francisco City & County Airport Comm-San Francisco International Airport | — | Municipal Bonds | 0.41% | $30.22M |
| Chicago Board of Education, Series 2025 A | — | Municipal Bonds | 0.41% | $30.13M |
| New York City Housing Development Corp | — | Municipal Bonds | 0.41% | $30.06M |
| Chicago O'Hare International Airport | — | Municipal Bonds | 0.40% | $29.82M |
| District of Columbia, Series 2026 C | — | Municipal Bonds | 0.40% | $29.80M |
| Pennsylvania Housing Finance Agency | — | Municipal Bonds | 0.40% | $29.28M |
| Wisconsin Health & Educational Facilities Authority, Series 2025 | — | Municipal Bonds | 0.39% | $28.82M |
| City of New York, Series 2021-3 | — | Municipal Bonds | 0.39% | $28.81M |
| New York City Housing Development Corp | — | Municipal Bonds | 0.39% | $28.42M |
| Nebraska Investment Finance Authority | — | Municipal Bonds | 0.39% | $28.41M |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-3, Class 2 | — | Municipal Bonds | 0.39% | $28.40M |
| Golden State Tobacco Securitization Corp., Series 2021 B-2 | — | Municipal Bonds | 0.38% | $27.92M |
| Public Finance Authority, Series 2024-1, Class B-1 | — | Municipal Bonds | 0.38% | $27.91M |
| Montgomery County Housing Opportunities Commission | — | Municipal Bonds | 0.38% | $27.84M |
| California Public Finance Authority, Series 2025 A-1 | — | Municipal Bonds | 0.37% | $27.61M |
| Indiana Housing & Community Development Authority | — | Municipal Bonds | 0.37% | $27.57M |
| County of Cuyahoga OH | — | Municipal Bonds | 0.37% | $27.29M |
| Oregon State Facilities Authority, Series 2025 A-1 | — | Municipal Bonds | 0.36% | $26.70M |
| Tobacco Settlement Financing Corp., Series 2007 A | — | Municipal Bonds | 0.35% | $26.04M |
| Florida Development Finance Corp., Series 2024A | — | Municipal Bonds | 0.35% | $26.00M |
| Olney Hamilton Hospital District, Series 2024 | — | Municipal Bonds | 0.35% | $25.68M |
| County of Washington, Series 2022 | — | Municipal Bonds | 0.35% | $25.54M |
| City of Los Angeles Department of Airports | — | Municipal Bonds | 0.34% | $25.27M |
| San Francisco City & County Airport Comm-San Francisco International Airport | — | Municipal Bonds | 0.34% | $25.11M |
| City of Chicago IL Waterworks Revenue | — | Municipal Bonds | 0.34% | $25.06M |
| Georgia Housing & Finance Authority | — | Municipal Bonds | 0.34% | $25.01M |
| Texas Water Development Board | — | Municipal Bonds | 0.33% | $24.48M |
| Pennsylvania Economic Development Financing Authority, Series 2025 | — | Municipal Bonds | 0.33% | $23.98M |
| CSCDA Community Improvement Authority, Series 2021 A-2 | — | Municipal Bonds | 0.32% | $23.81M |
| Capital Trust Authority, Series 2026 A | — | Municipal Bonds | 0.32% | $23.41M |
| Port of Portland | — | Municipal Bonds | 0.32% | $23.36M |
| Metropolitan Nashville Airport Authority/The | — | Municipal Bonds | 0.32% | $23.24M |
| Chicago Board of Education, Series 2025 C | — | Municipal Bonds | 0.31% | $23.09M |
| County of Cook, Series 2024 | — | Municipal Bonds | 0.31% | $22.93M |
| California County Tobacco Securitization Agency, Series 2006 A | — | Municipal Bonds | 0.30% | $22.25M |
| Public Finance Authority, Series 2024 B | — | Municipal Bonds | 0.30% | $22.21M |
| Ohio Housing Finance Agency | — | Municipal Bonds | 0.30% | $22.04M |
| North Carolina Housing Finance Agency | — | Municipal Bonds | 0.29% | $21.55M |
| Rhode Island Health and Educational Building Corp., Series 2026 A | — | Municipal Bonds | 0.29% | $21.26M |
| Oregon State Facilities Authority, Series 2025 A-2 | — | Municipal Bonds | 0.29% | $21.07M |
| Michigan State Housing Development Authority | — | Municipal Bonds | 0.28% | $20.65M |
| Chicago O'Hare International Airport, Series 2025 E | — | Municipal Bonds | 0.28% | $20.56M |
| Westchester County Local Development Corp., Series 2025 | — | Municipal Bonds | 0.28% | $20.54M |
| Pennsylvania Housing Finance Agency | — | Municipal Bonds | 0.28% | $20.43M |
| Municipal Improvement Corp of Los Angeles | — | Municipal Bonds | 0.28% | $20.43M |
| Metropolitan Washington Airports Authority Aviation Revenue | — | Municipal Bonds | 0.28% | $20.35M |
| Public Finance Authority, Series 2024 A | — | Municipal Bonds | 0.27% | $20.18M |
| Chicago Board of Education, Series B | — | Municipal Bonds | 0.27% | $20.17M |
| Washington State Housing Finance Commission, Series 2025 A | — | Municipal Bonds | 0.27% | $20.02M |
| Arizona Industrial Development Authority, Series 2025 A | — | Municipal Bonds | 0.27% | $19.60M |
| Massachusetts Housing Finance Agency | — | Municipal Bonds | 0.26% | $19.35M |
| New York Counties Tobacco Trust IV, Series 2005 A | — | Municipal Bonds | 0.26% | $19.18M |
| Pennsylvania Housing Finance Agency | — | Municipal Bonds | 0.26% | $19.03M |
| Montgomery County Housing Opportunities Commission | — | Municipal Bonds | 0.26% | $19.01M |
| City of Los Angeles Department of Airports | — | Municipal Bonds | 0.26% | $18.88M |
| State of Hawaii Airports System Revenue | — | Municipal Bonds | 0.26% | $18.80M |
| San Francisco City & County Airport Comm-San Francisco International Airport | — | Municipal Bonds | 0.25% | $18.74M |
FEHCX Sector Allocation
First Eagle High Yield Municipal Fund holdings grouped by sector, by share of the portfolio's market value.
| Sector | Weight | Holdings |
|---|---|---|
| Municipal Bonds | 99.8% | 1764 |
| Government Bonds | 0.2% | 1 |
| Funds & ETFs | 0.1% | 1 |
| Corporate Bonds | 0.0% | 1 |
| Unknown | 0.0% | 3 |
FEHCX Country Allocation
Where First Eagle High Yield Municipal Fund's holdings are domiciled, by percentage of net assets (largest 4).
| Country | % of net assets |
|---|---|
| United States | 120.4% |
| Puerto Rico | 0.1% |
| U.S. Virgin Islands | 0.1% |
| American Samoa | 0.0% |
FEHCX Portfolio Allocation
Asset-class allocation of First Eagle High Yield Municipal Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 114.3% |
| Cash & Equivalents | 6.3% |
FEHCX Debt Constituents
Largest debt holdings of First Eagle High Yield Municipal Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Public Finance Authority | 3.07% |
| Florida Development Finance Corp. | 1.89% |
| New Hope Cultural Education Facilities Finance Corp. | 1.69% |
| Atlanta Development Authority (The) | 1.65% |
| State of Nevada Department of Business & Industry | 1.25% |
| Public Finance Authority | 1.20% |
| City of Los Angeles Department of Airports | 0.84% |
| Michigan State Housing Development Authority | 0.82% |
| Chicago Board of Education | 0.79% |
| Florida Development Finance Corp. | 0.75% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.