First Eagle Global Fund Q3 202 Portfolio Update

Impact · against what's priced in

The portfolio update is not a catalyst for the mentioned stocks. For WDAY, META, and CRM, being listed as fund contributors simply confirms the positive momentum and growth profiles the market has already priced into their current valuations.

CRM+0.00

Already priced in

The price assumes

Revenue growth decelerating to roughly 4% annually

The fund's positive return from Salesforce reflects the business stability and buyback support the market is already paying for.