Characteristics

  • As of Sep 30, 2024

Investment Philosophy

The Global Fund’s philosophy reflects the teachings of Benjamin Graham and Warren Buffett: We believe there is a persistent market failure to recognize a company’s intrinsic value. The Fund attempts to exploit this failure on behalf of our investors through a bottom-up, fundamental investment approach.

  • Focus on Absolute Returns

    We attempt to avoid the permanent impairment of capital and generate long-term positive absolute returns across market cycles.

  • Flexible, Benchmark-Agnostic Approach

    The Fund has the ability to invest across asset classes, regions, sectors/industries, market-capitalization ranges, and without regard to a benchmark.

  • Seeks To Provide Downside Mitigation

    Our attempts to avoid the permanent loss of capital result in a portfolio that has exposure to equities purchased with what we believe to be a “margin of safety” in price.

Characteristics

  • As of Sep 30, 2024

Our Process

The fundamental research process has remained constant since the inception of the Fund. The Fund looks for opportunities in companies that have temporarily disappointed investors; industries in turmoil or out of favor; and countries in economic downturns or overlooked by the market.

The investment process involves the following steps:

  • 01

    Analyze, Understand Business Models

    Thoroughly understand a company and the market in which it operates. Among other critical factors, the team’s document-driven analysis examines:

    • A company’s market share.
    • The nature of its products and its business contingencies

  • 02

    Recast Financial Statements

    Financial statements are recast because:

    • Conservative accounting practices can mask the true earnings power of a company
    • In our view, accounting practices are sometimes too liberal

    Our goal is to uncover a company’s true economic earnings using only demonstrated results.

  • 03

    Calculate Intrinsic Value

    The team places great emphasis on: 

    • Balance sheet valuation (such as Enterprise Value to Asset Replacement Value)
    • Cash flow valuation (such as EV/EBIT)

    Investments are made based on significant discounts to what is believed to be a company’s intrinsic value.

  • 04

    Typically Invest for the Long Term

    The team typically seeks a discount to what they believe is a company’s intrinsic value:

    • They seek further downside mitigation by determining a “margin of safety” in each holding
    • This “margin of safety” is viewed as a form of risk mitigation against uncertainty in a fundamentally unknowable future.

The Global Fund may also invest in non-equity securities in an attempt to help preserve purchasing power. These include:

  • Gold bullion
  • Corporate bonds (senior or subordinated bonds, convertible bonds)
  • Cash and cash equivalents (commercial paper)

Growth of $10K

Select Benchmarks

Source: FactSet; data as of Sep 30, 2024.

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

  2. This chart illustrates a hypothetical investment in Class A shares without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Date selected assumes purchase at month end.

  1. Disclosures

  2. Global Fund Inception dates: A Shares 01/01/1979, C Shares 06/05/2000, I Shares 07/31/1998, R6 Shares 03/01/2017. Performance for periods prior to January 1, 2000 occurred while a prior portfolio manager of The Fund was affiliated with another firm. Inception date shown is when this prior portfolio manager assumed portfolio management responsibilities.

  3. The average annual returns shown above are historical and reflect changes in share price, reinvested dividends and are net of expenses. Investment results and the principal value of an investment will vary.

  4. Returns for periods less than one year are not annualized.

  5. The average annual returns for Class A Shares “with sales charge” performance gives effect to the deduction of the maximum sales charge of 3.75% for periods prior to March 1, 2000 and of 5.00% thereafter.

  6. The average annual returns for Class C Shares reflect a CDSC (contingent deferred sales charge) of 1.00% in the year-to-date and first year only.

  7. Performance information for Class I Shares is without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Had fees not been waived and/or expenses reimbursed, the performance would have been lower. Class A and C Shares have maximum sales charges of 5.00% and 1.00% respectively, and 12b-1 fees, which reduce performance.

  8. Class I Shares require $1MM minimum investment and are offered without sales charge. There is no minimum subsequent investment amount for Class I Shares.

  9. Class R Shares are offered without sales charge.

  10. The annual expense ratio is based on expenses incurred by The Fund, as stated in the most recent prospectus.

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  1. Definitions

  2. “Intrinsic value” is based on our judgment of what a prudent and rational business buyer would pay in cash for all of the company in normal markets.

  3. First Eagle defines "margin of safety" as the difference between a company's market price and our estimate of its intrinsic value. An investment made with a margin of safety is no guarantee against loss.

  4. One cannot invest directly in an index. Indices do not incur management fees or other operating expenses.

  5. MSCI World: The MSCI World Index is a widely followed, unmanaged group of stocks from 23 developed markets and is not available for purchase. The index provides total returns in U.S. dollars with net dividends reinvested.

  6. Standard deviation is a statistical measure of the distance a quantity is likely to be from its average value.  It is applied to the annual rate of return to measure volatility.

  7. Beta is a measure of the fund's volatility (risk) relative to the overall market. The higher the fund's Beta, the more the fund price is expected to change in response to a given change in the value of the market.

  8. The First Eagle Funds are offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC, which provides advisory services.

  9. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

Show More Show Less

Focus on Absolute Returns Across Market Cycles

  1. This chart illustrates a hypothetical investment in Class A shares without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Date selected assumes purchase at month end.

Benchmark Agnostic Approach

First Eagle Fund
Show Benchmarks
Source: FactSet; data as of Sep 30, 2024.

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

Consistent Approach Seeks to Provide a Better Investor Experience

Source: FactSet; data as of Dec 31, 2023.

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

Seeking Solutions for Varying Portfolio Needs

 S&P 500 IndexBLENDED PORTFOLIOS&P 500 Index 90% / SGENX 10%BLENDED PORTFOLIOS&P 500 Index 80% / 20%SGENXBLENDED PORTFOLIOS&P 500 Index 70% / SGENX 30%BLENDED PORTFOLIOS&P 500 Index 60% / SGENX 40%BLENDED PORTFOLIOS&P 500 Index 50% / SGENX 50%BLENDED PORTFOLIOS&P 500 Index 40% / SGENX 60%BLENDED PORTFOLIOS&P 500 Index 30% / SGENX 70%BLENDED PORTFOLIOS&P 500 Index 20% / SGENX 80%BLENDED PORTFOLIOS&P 500 Index 10% / SGENX 90%SGENX
Cumulative Return16,167%16,608%17,002%17,346%17,637%17,871%18,048%18,165%18,221%18,216%18,149%
Max Drawdown-50.95%-49.26%-47.51%-45.72%-43.87%-41.97%-40.01%-38.00%-35.93%-34.11%-32.61%
$100K Beginning Investment$16,267K$16,708K$17,102K$17,446K$17,737K$17,971K$18,148K$18,265K$18,321K$18,316K$18,249K
Max Drawdown Recovery Time37 Months37 Months36 Months26 Months24 Months23 Months22 Months22 Months20 Months20 Months14 Months
Annualized Standard Deviation15.24%14.62%14.03%13.47%12.95%12.46%12.01%11.62%11.28%10.99%10.77%
Beta1.000.960.920.880.830.790.750.710.670.630.59
Alpha0.000.040.080.120.160.200.240.280.320.360.40
Sharpe Ratio0.510.530.560.590.610.640.660.690.710.730.74
Upside Capture100.00%96.62%93.24%89.88%86.53%83.19%79.87%76.55%73.25%69.96%66.68%
Downside Capture100.00%94.82%89.62%84.39%79.15%73.89%68.60%63.30%57.98%52.63%47.27%

January 1979 through December 2023

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

  1. Disclosures

  2. Global Fund Inception dates: A Shares 01/01/1979, C Shares 06/05/2000, I Shares 07/31/1998, R6 Shares 03/01/2017. Performance for periods prior to January 1, 2000 occurred while a prior portfolio manager of The Fund was affiliated with another firm. Inception date shown is when this prior portfolio manager assumed portfolio management responsibilities.

  3. The average annual returns shown above are historical and reflect changes in share price, reinvested dividends and are net of expenses. Investment results and the principal value of an investment will vary.

  4. Returns for periods less than one year are not annualized.

  5. The average annual returns for Class A Shares “with sales charge” performance gives effect to the deduction of the maximum sales charge of 3.75% for periods prior to March 1, 2000 and of 5.00% thereafter.

  6. The average annual returns for Class C Shares reflect a CDSC (contingent deferred sales charge) of 1.00% in the year-to-date and first year only.

  7. Performance information for Class I Shares is without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Had fees not been waived and/or expenses reimbursed, the performance would have been lower. Class A and C Shares have maximum sales charges of 5.00% and 1.00% respectively, and 12b-1 fees, which reduce performance.

  8. Class I Shares require $1MM minimum investment and are offered without sales charge. There is no minimum subsequent investment amount for Class I Shares.

  9. Class R Shares are offered without sales charge.

  10. The annual expense ratio is based on expenses incurred by The Fund, as stated in the most recent prospectus.

  1. Definitions

  2. One cannot invest directly in an index. Indices do not incur management fees or other operating expenses.

  3. MSCI World: The MSCI World Index is a widely followed, unmanaged group of stocks from 23 developed markets and is not available for purchase. The index provides total returns in U.S. dollars with net dividends reinvested.

  4. MSCI EAFE: The MSCI EAFE Index is an unmanaged total return index, reported in U.S. dollars, based on share prices and reinvested net dividends of companies from 21 countries and is not available for purchase.

  5. Standard & Poor's 500 Index: Standard & Poor's 500 Index is a widely recognized unmanaged index including a representative sample of 500 leading companies in leading sectors of the U.S. economy and is not available for purchase. Although the Standard & Poor's 500 Index focuses on the large-cap segment of the market, with approximately 80% coverage of U.S. equities, it is also considered a proxy for the total market.

  6. Standard deviation is a statistical measure of the distance a quantity is likely to be from its average value.  It is applied to the annual rate of return to measure volatility.

  7. Beta is a measure of the fund's volatility (risk) relative to the overall market. The higher the fund's Beta, the more the fund price is expected to change in response to a given change in the value of the market.

Growth of $10K

Select Benchmarks

Source: FactSet; data as of Sep 30, 2024.

  1. This chart illustrates a hypothetical investment in Class A shares without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Date selected assumes purchase at month end.

  2. The average annual returns for Class C Shares reflect a CDSC (contingent deferred sales charge) of 1.00% in the year-to-date and first year only.

25 Year Risk vs. Return

SGENXMSCI World IndexMSCI EAFE IndexS&P 500 Index
Annualized Return (%)    9.85    6.14    4.49    7.67
Annualized Standard Deviation (%)   11.16   15.58   16.59   15.35
R-Square (%)   82.82  100.00   91.54   94.60
Beta    0.65    1.00    1.02    0.96
Alpha (annualized)    5.54    0.00   -1.74    1.92
Information Ratio (annualized)    0.51     NA    -0.39    0.48

Source: FactSet; data as of Sep 30, 2024.

Calendar Year Returns

YearClass A (SGENX)MSCI World Index
2023 12.80 23.79
2022 -6.48 -18.14
2021 12.24 21.82
2020 8.30 15.90
2019 20.17 27.67
2018 -8.51 -8.71
2017 13.49 22.40
2016 10.65 7.51
2015 -0.94 -0.87
2014 2.93 4.94
2013 15.49 26.68
2012 12.46 15.83
2011 -0.19 -5.54
2010 17.58 11.76
2009 22.91 29.99
2008 -21.06 -40.71
2007 9.90 9.04
2006 20.50 20.07
2005 14.91 9.49
2004 18.37 14.72
2003 37.64 33.11
2002 10.23 -19.89
2001 10.21 -16.82
2000 9.72 -13.18
1999 19.56 24.93
1998 -0.26 24.34
1997 8.54 15.76
1996 13.64 13.48
1995 15.24 20.72
1994 2.52 5.08
1993 26.15 22.50
1992 8.41 -5.23
1991 17.93 18.28
1990 -1.30 -17.02
1989 17.21 16.61
1988 14.15 23.29
1987 13.76 16.16
1986 25.02 41.89
1985 32.71 40.56
1984 2.86 4.72
1983 24.03 21.93
1982 31.56 9.71
1981 8.00 -4.79
1979 31.66 25.67

Source: FactSet; data as of Dec 31, 2023.

Average Annual Returns

TickerClassYTD %1 MO3 MO1 YR3 YR5 YR10 YRINCEPT %Expense Ratio
GrossNet
SGENX A w/out load  16.56%   0.53%   0.97%  20.41%   8.62%   8.98%   7.29%  12.38%   1.10% --
SGENX A w/load  10.74%  -4.49%  -4.07%  14.40%   6.78%   7.86%   6.74%  12.26%   1.10% --
MSCI World Index (since inception based on A Shares)  21.85%   4.59%   4.39%  27.83%   8.79%  12.42%  10.06%   9.92%      --      --
SGENX A w/out load  18.28%   2.46%   9.88%  27.00%   9.01%   9.67%   7.58%  12.47%   1.10% --
SGENX A w/load  12.36%  -2.66%   4.39%  20.64%   7.16%   8.55%   7.03%  12.34%   1.10% --
MSCI World Index (since inception based on A Shares)  18.86%   1.83%   6.36%  32.43%   9.08%  13.04%  10.07%   9.89%      --      --
FESGX C  14.76%  -0.54%  -0.21%  18.49%   7.79%   8.15%   6.48%   9.12%   1.86% --
MSCI World Index (since inception based on A Shares)  21.85%   4.59%   4.39%  27.83%   8.79%  12.42%  10.06%   9.92%      --      --
FESGX C  16.62%   1.41%   8.69%  25.03%   8.18%   8.84%   6.77%   9.26%   1.86% --
MSCI World Index (since inception based on A Shares)  18.86%   1.83%   6.36%  32.43%   9.08%  13.04%  10.07%   9.89%      --      --
SGIIX I  16.80%   0.54%   1.02%  20.68%   8.87%   9.24%   7.56%  10.09%   0.86% --
MSCI World Index (since inception based on A Shares)  21.85%   4.59%   4.39%  27.83%   8.79%  12.42%  10.06%   9.92%      --      --
SGIIX I  18.49%   2.48%   9.96%  27.29%   9.27%   9.94%   7.85%  10.22%   0.86% --
MSCI World Index (since inception based on A Shares)  18.86%   1.83%   6.36%  32.43%   9.08%  13.04%  10.07%   9.89%      --      --
FEGRX R6  16.89%   0.56%   1.06%  20.79%   8.96%   9.32% --   8.02%   0.79% --
MSCI World Index (since inception based on A Shares)  21.85%   4.59%   4.39%  27.83%   8.79%  12.42%  10.06%   9.92%      --      --
FEGRX R6  18.55%   2.49%   9.97%  27.39%   9.35%  10.02% --   8.40%   0.79% --
MSCI World Index (since inception based on A Shares)  18.86%   1.83%   6.36%  32.43%   9.08%  13.04%  10.07%   9.89%      --      --

Source: FactSet; data as of Sep 30, 2024.

Source: FactSet; data as of Nov 30, 2024.

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

  1. Disclosures

  2. Global Fund Inception dates: A Shares 01/01/1979, C Shares 06/05/2000, I Shares 07/31/1998, R6 Shares 03/01/2017. Performance for periods prior to January 1, 2000 occurred while a prior portfolio manager of The Fund was affiliated with another firm. Inception date shown is when this prior portfolio manager assumed portfolio management responsibilities.

  3. The average annual returns shown above are historical and reflect changes in share price, reinvested dividends and are net of expenses. Investment results and the principal value of an investment will vary.

  4. Returns for periods less than one year are not annualized.

  5. The average annual returns for Class A Shares “with sales charge” performance gives effect to the deduction of the maximum sales charge of 3.75% for periods prior to March 1, 2000 and of 5.00% thereafter.

  6. Performance information for Class I Shares is without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Had fees not been waived and/or expenses reimbursed, the performance would have been lower. Class A and C Shares have maximum sales charges of 5.00% and 1.00% respectively, and 12b-1 fees, which reduce performance.

  7. Class I Shares require $1MM minimum investment and are offered without sales charge. There is no minimum subsequent investment amount for Class I Shares.

  8. Class R Shares are offered without sales charge.

  9. The annual expense ratio is based on expenses incurred by The Fund, as stated in the most recent prospectus.

Show More Show Less

  1. Definitions

  2. One cannot invest directly in an index. Indices do not incur management fees or other operating expenses.

  3. MSCI World: The MSCI World Index is a widely followed, unmanaged group of stocks from 23 developed markets and is not available for purchase. The index provides total returns in U.S. dollars with net dividends reinvested.

  4. Standard deviation is a statistical measure of the distance a quantity is likely to be from its average value.  It is applied to the annual rate of return to measure volatility.

  5. Beta is a measure of the fund's volatility (risk) relative to the overall market. The higher the fund's Beta, the more the fund price is expected to change in response to a given change in the value of the market.

  6. The First Eagle Funds are offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC, which provides advisory services.

  7. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

Show More Show Less

Top Ten Holdings (%)

As of Oct 31, 2024

Gold Bullion Gold 11.85
Oracle Corporation United States 2.93
Meta Platforms Inc Class A United States 2.61
HCA Healthcare Inc United States 1.98
Exxon Mobil Corporation United States 1.98
Philip Morris International Inc. United States 1.88
Comcast Corporation Class A United States 1.71
Willis Towers Watson Public Ltd. Co. United Kingdom 1.51
Bank of New York Mellon Corp United States 1.48
C.H. Robinson Worldwide, Inc. United States 1.47
Top Ten Holdings as a Percentage of Total Net Assets 29.39

Allocation by Sector (%)

Materials: 16.07%
Consumer Staples: 13.59%
Financials: 12.16%
Industrials: 10.40%
Health Care: 9.01%
Information Technology: 8.57%
Communication Services: 7.20%
Short-Term, Cash & Cash Equivalents: 7.13%
Consumer Discretionary: 6.51%
Energy: 6.21%
Real Estate: 3.16%
Source: FactSet; data as of Sep 30, 2024.
Materials 16.07%
Consumer Staples 13.59%
Financials 12.16%
Industrials 10.40%
Health Care 9.01%
Information Technology 8.57%
Communication Services 7.20%
Short-Term, Cash & Cash Equivalents 7.13%
Consumer Discretionary 6.51%
Energy 6.21%
Real Estate 3.16%
Materials 16.01%
Consumer Staples 12.64%
Financials 11.76%
Industrials 10.22%
Short-Term, Cash & Cash Equivalents 8.73%
Information Technology 8.66%
Health Care 8.26%
Communication Services 7.62%
Energy 6.79%
Consumer Discretionary 6.04%
Real Estate 2.95%
Government Bonds 0.21%
Utilities 0.10%
Materials 15.99%
Consumer Staples 12.97%
Financials 11.62%
Industrials 10.61%
Short-Term, Cash & Cash Equivalents 9.09%
Information Technology 8.15%
Health Care 7.50%
Communication Services 7.21%
Energy 7.19%
Consumer Discretionary 5.88%
Real Estate 3.06%
Government Bonds 0.56%
Utilities 0.15%
Materials 16.02%
Consumer Staples 13.26%
Financials 11.44%
Industrials 10.36%
Information Technology 8.49%
Communication Services 7.67%
Health Care 7.08%
Energy 6.84%
Consumer Discretionary 5.95%
Real Estate 3.63%
Government Bonds 0.70%
Utilities 0.23%
Materials 15.13%
Consumer Staples 13.09%
Financials 10.47%
Industrials 9.93%
Information Technology 8.39%
Energy 7.57%
Communication Services 7.37%
Health Care 6.37%
Consumer Discretionary 6.21%
Real Estate 3.44%
Government Bonds 0.76%
Utilities 0.23%
Materials 15.35%
Consumer Staples 13.24%
Short-Term, Cash & Cash Equivalents 11.43%
Industrials 10.52%
Financials 10.34%
Information Technology 9.20%
Health Care 6.83%
Consumer Discretionary 6.72%
Communication Services 6.20%
Energy 6.08%
Real Estate 3.08%
Government Bonds 0.75%
Utilities 0.26%
Materials 16.65%
Consumer Staples 13.27%
Financials 10.88%
Industrials 10.63%
Information Technology 8.93%
Consumer Discretionary 7.11%
Health Care 6.63%
Energy 6.48%
Communication Services 5.38%
Real Estate 3.33%
Government Bonds 0.88%
Utilities 0.38%
Gold Related Investments 15.02%
Consumer Staples 13.58%
Industrials 10.80%
Financials 9.83%
Technology 8.30%
Short-Term, Cash & Cash Equivalents 7.90%
Energy 7.16%
Consumer Discretionary 6.96%
Health Care 6.66%
Communication Services 4.34%
Real Estate 3.66%
Holding Companies 2.80%
Materials 1.39%
Government Bonds 1.08%
Utilities 0.51%
Gold Related Investments 14.84%
Consumer Staples 13.35%
Industrials 11.32%
Financials 10.58%
Technology 9.13%
Short-Term, Cash & Cash Equivalents 7.32%
Energy 7.07%
Consumer Discretionary 6.11%
Health Care 5.77%
Communication Services 4.66%
Real Estate 3.93%
Holding Companies 2.63%
Materials 1.65%
Government Bonds 1.14%
Utilities 0.49%
Gold Related Investments 14.84%
Consumer Staples 12.77%
Industrials 11.34%
Financials 10.25%
Technology 9.40%
Short-Term, Cash & Cash Equivalents 7.24%
Energy 6.43%
Health Care 6.27%
Consumer Discretionary 6.22%
Communication Services 5.06%
Real Estate 4.09%
Holding Companies 2.69%
Materials 1.59%
Government Bonds 1.29%
Utilities 0.53%
Gold Related Investments 15.16%
Consumer Staples 11.18%
Industrials 11.06%
Financials 10.64%
Technology 9.85%
Short-Term, Cash & Cash Equivalents 8.50%
Energy 6.44%
Health Care 6.03%
Communication Services 5.36%
Consumer Discretionary 5.28%
Real Estate 3.97%
Holding Companies 3.07%
Materials 1.77%
Government Bonds 1.24%
Utilities 0.44%
Gold Related Investments 14.08%
Consumer Staples 11.54%
Industrials 11.31%
Financials 11.19%
Technology 11.00%
Cash & Cash Equivalents 6.86%
Consumer Discretionary 6.36%
Health Care 6.03%
Communication Services 5.63%
Energy 4.77%
Real Estate 4.15%
Holding Companies 3.26%
Materials 1.93%
Government Bonds 1.31%
Utilities 0.57%

Allocation by Asset Class (%)

US Equity: 41.21%
International Equity: 30.41%
Gold Related Investments: 15.17%
Short-Term, Cash & Cash Equivalents: 7.13%
Emerging Markets Equity: 6.07%
Source: FactSet; data as of Sep 30, 2024.
US Equity 41.21%
International Equity 30.41%
Gold Related Investments 15.17%
Short-Term, Cash & Cash Equivalents 7.13%
Emerging Markets Equity 6.07%
US Equity 40.76%
International Equity 29.46%
Gold Related Investments 15.08%
Short-Term, Cash & Cash Equivalents 8.73%
Emerging Markets Equity 5.73%
International Fixed Income 0.21%
US Equity 39.82%
International Equity 29.36%
Gold Related Investments 14.98%
Short-Term, Cash & Cash Equivalents 9.09%
Emerging Markets Equity 6.18%
International Fixed Income 0.56%
US Stocks 40.05%
International Developed Stocks 29.67%
Gold Related Investments 14.93%
Short-Term, Cash & Cash Equivalents 8.31%
International Emerging Stocks 6.32%
International Currency Bonds 0.70%
US $ Bonds 0.01%
US Stocks 39.28%
International Developed Stocks 28.71%
Gold Related Investments 14.03%
Short-Term, Cash & Cash Equivalents 11.05%
International Emerging Stocks 6.16%
International Currency Bonds 0.76%
US $ Bonds 0.01%
US Stocks 38.04%
International Developed Stocks 29.23%
Gold Related Investments 14.28%
Short-Term, Cash & Cash Equivalents 11.43%
International Emerging Stocks 6.28%
International Currency Bonds 0.75%
US $ Bonds 0.01%
US Stocks 37.44%
International Developed Stocks 30.64%
Gold Related Investments 15.43%
Short-Term, Cash & Cash Equivalents 9.45%
International Emerging Stocks 6.14%
International Currency Bonds 0.88%
US $ Bonds 0.01%
US Stocks 39.21%
International Developed Stocks 30.77%
Gold Related Investments 15.02%
Short-Term, Cash & Cash Equivalents 7.90%
International Emerging Stocks 6.01%
International Currency Bonds 1.08%
US $ Bonds 0.01%
US Stocks 40.82%
International Developed Stocks 30.03%
Gold Related Investments 14.84%
International Emerging Stocks 5.83%
International Currency Bonds 1.14%
US $ Bonds 0.01%
US Stocks 40.48%
International Stocks 36.15%
Gold Related Investments 14.84%
Short-Term, Cash & Cash Equivalents 7.24%
International Currency Bonds 1.29%
US $ Bonds 0.01%
US Stocks 40.25%
International Stocks 34.83%
Gold Related Investments 15.16%
Short-Term, Cash & Cash Equivalents 8.50%
International Currency Bonds 1.24%
US $ Bonds 0.01%
US Stocks 41.87%
International Stocks 35.87%
Gold Related Investments 14.08%
Cash & Cash Equivalents 6.86%
International Currency Bonds 1.31%
US $ Bonds 0.01%

Allocation by Region (%)

United States: 41.22%
Europe: 20.06%
Gold Related Investments: 15.17%
Short-Term, Cash & Cash Equivalents: 7.13%
Japan: 6.72%
Asia ex-Japan: 5.19%
Canada: 2.37%
Latin America: 2.13%
Source: FactSet; data as of Sep 30, 2024.