# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0001752724-23-066047
**Filing Date:** 2023-3
**Character Count:** 2233038
**Document Hash:** cf3ff2486fb6492faa6ccddc68d2d10a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-066047.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-066047

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMorgan Trust I
- **CENTRAL INDEX KEY:** 0001217286
- **IRS NUMBER:** 331043149
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21295
- **FILM NUMBER:** 23761617

**BUSINESS ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172
- **BUSINESS PHONE:** 800-480-4111

**MAIL ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JP MORGAN MUTUAL FUND SERIES
- **DATE OF NAME CHANGE:** 20030204

## Series and Classes Contracts Data

### JPMorgan Income Builder Fund (Series ID: S000015698)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000042871 | Class A      | JNBAX           |
| C000042872 | Class C      | JNBCX           |
| C000042873 | Class I      | JNBSX           |
| C000195048 | Class R6     | JNBZX           |

## Nport-Ex

**JPMorgan Income Builder Fund**

**Schedule of Portfolio Investments as of January 31, 2023**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED MUTUAL FUNDS HOLDINGS" LIST ("the <br> List") IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS <br> NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR <br> SALES LITERATURE WITH THE GENERAL PUBLIC. The list is <br> submitted for the general information of the shareholders of the Fund. <br> It is not authorized for distribution to prospective investors in the Fund <br> unless preceded or accompanied by a prospectus. The list has been <br> created from the books and records of the Fund. Holdings are <br> available 60 days after the fund's fiscal quarter, using a trade date <br> accounting convention, by contacting the appropriate service center. <br> The list is subject to change without notice. The list is for <br> informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2023. |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** <br>**(000)**<br>| <br> **VALUE** <br>**($000)**<br>|
| **Common Stocks — 37.7%** | **Common Stocks — 37.7%** | **Common Stocks — 37.7%** |
| **Australia — 0.8%** | **Australia — 0.8%** | **Australia — 0.8%** |
| &nbsp;&nbsp;&nbsp; AGL Energy Ltd. | 1464 | 7937 |
| &nbsp;&nbsp;&nbsp; APA Group | 379 | 2839 |
| &nbsp;&nbsp;&nbsp; Bendigo & Adelaide Bank Ltd. | 392 | 2797 |
| &nbsp;&nbsp;&nbsp; BHP Group Ltd. | 136 | 4761 |
| &nbsp;&nbsp;&nbsp; Charter Hall Long Wale, REIT | 305 | 988 |
| &nbsp;&nbsp;&nbsp; CSR Ltd. | 730 | 2732 |
| &nbsp;&nbsp;&nbsp; Glencore plc | 998 | 6681 |
| &nbsp;&nbsp;&nbsp; Goodman Group, REIT | 209 | 2985 |
| &nbsp;&nbsp;&nbsp; Insignia Financial Ltd. | 831 | 2062 |
| &nbsp;&nbsp;&nbsp; Mirvac Group, REIT | 1986 | 3209 |
| &nbsp;&nbsp;&nbsp; Origin Energy Ltd. | 313 | 1662 |
| &nbsp;&nbsp;&nbsp; Rio Tinto Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14116 |
| &nbsp;&nbsp;&nbsp; Rio Tinto plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16151 |
| &nbsp;&nbsp;&nbsp; Sonic Healthcare Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3324 |
| &nbsp;&nbsp;&nbsp; Stockland, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1573 |
| &nbsp;&nbsp;&nbsp; Telstra Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2881 |
| &nbsp;&nbsp;&nbsp; Woodside Energy Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6062 |
| &nbsp;&nbsp;&nbsp; Woolworths Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4642 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87402 |
| **Austria — 0.1%** | **Austria — 0.1%** | **Austria — 0.1%** |
| &nbsp;&nbsp;&nbsp; ANDRITZ AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3382 |
| &nbsp;&nbsp;&nbsp; BAWAG Group AG \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3289 |
| &nbsp;&nbsp;&nbsp; Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2043 |
| &nbsp;&nbsp;&nbsp; Mondi plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2445 |
| &nbsp;&nbsp;&nbsp; OMV AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2701 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13860 |
| **Belgium — 0.2%** | **Belgium — 0.2%** | **Belgium — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ageas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2794 |
| &nbsp;&nbsp;&nbsp; Cofinimmo SA, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1611 |
| &nbsp;&nbsp;&nbsp; Euronav NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2360 |
| &nbsp;&nbsp;&nbsp; KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8223 |
| &nbsp;&nbsp;&nbsp; Melexis NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2189 |
| &nbsp;&nbsp;&nbsp; Proximus SADP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2199 |
| &nbsp;&nbsp;&nbsp; Warehouses De Pauw CVA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21584 |
| **Brazil — 0.2%** | **Brazil — 0.2%** | **Brazil — 0.2%** |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9757 |
| &nbsp;&nbsp;&nbsp; BB Seguridade Participacoes SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3072 |
| &nbsp;&nbsp;&nbsp; EDP - Energias do Brasil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4822 |
| &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA (Preference) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7192 |
| &nbsp;&nbsp;&nbsp; Yara International ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1564 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26407 |
| **Canada — 1.9%** | **Canada — 1.9%** | **Canada — 1.9%** |
| &nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1560 |
| &nbsp;&nbsp;&nbsp; Allied Properties, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1972 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Canada — continued** | **Canada — continued** | **Canada — continued** |
| &nbsp;&nbsp;&nbsp; AltaGas Ltd. | 108 | 2018 |
| &nbsp;&nbsp;&nbsp; Atco Ltd., Class I | 79 | 2503 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) | 112 | 6074 |
| &nbsp;&nbsp;&nbsp; Barrick Gold Corp. | 310 | 6065 |
| &nbsp;&nbsp;&nbsp; BCE, Inc. (b) | 194 | 9179 |
| &nbsp;&nbsp;&nbsp; Canadian Apartment Properties, REIT | 100 | 3687 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce | 124 | 5641 |
| &nbsp;&nbsp;&nbsp; Canadian Natural Resources Ltd. | 49 | 3017 |
| &nbsp;&nbsp;&nbsp; Canadian Tire Corp. Ltd., Class A | 23 | 2708 |
| &nbsp;&nbsp;&nbsp; Canadian Utilities Ltd., Class A | 294 | 8178 |
| &nbsp;&nbsp;&nbsp; Capital Power Corp. | 75 | 2517 |
| &nbsp;&nbsp;&nbsp; Chartwell Retirement Residences | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1906 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2538 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9875 |
| &nbsp;&nbsp;&nbsp; Fortis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9309 |
| &nbsp;&nbsp;&nbsp; Gibson Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2601 |
| &nbsp;&nbsp;&nbsp; Great-West Lifeco, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7111 |
| &nbsp;&nbsp;&nbsp; Hydro One Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8645 |
| &nbsp;&nbsp;&nbsp; IGM Financial, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4445 |
| &nbsp;&nbsp;&nbsp; Keyera Corp. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2844 |
| &nbsp;&nbsp;&nbsp; Manulife Financial Corp. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7285 |
| &nbsp;&nbsp;&nbsp; Northland Power, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2324 |
| &nbsp;&nbsp;&nbsp; Nutrien Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6359 |
| &nbsp;&nbsp;&nbsp; Pembina Pipeline Corp. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9881 |
| &nbsp;&nbsp;&nbsp; Power Corp. of Canada (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6822 |
| &nbsp;&nbsp;&nbsp; Restaurant Brands International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7478 |
| &nbsp;&nbsp;&nbsp; Shaw Communications, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7523 |
| &nbsp;&nbsp;&nbsp; Sienna Senior Living, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1444 |
| &nbsp;&nbsp;&nbsp; Superior Plus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2301 |
| &nbsp;&nbsp;&nbsp; TC Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16247 |
| &nbsp;&nbsp;&nbsp; TELUS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8986 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12834 |
| &nbsp;&nbsp;&nbsp; TransAlta Renewables, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1790 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 195667 |
| **Cayman Islands — 0.0% ^** | **Cayman Islands — 0.0% ^** | **Cayman Islands — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Telford Offshore Holdings Ltd. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| **Chile — 0.0% ^** | **Chile — 0.0% ^** | **Chile — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Banco Santander Chile, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5327 |
| **China — 2.0%** | **China — 2.0%** | **China — 2.0%** |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., Class H | &nbsp;&nbsp;&nbsp;&nbsp; 16471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10662 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12881 |
| &nbsp;&nbsp;&nbsp; China Overseas Land & Investment Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2829 |
| &nbsp;&nbsp;&nbsp; China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp;&nbsp;&nbsp; 20732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11195 |
| &nbsp;&nbsp;&nbsp; China Resources Gas Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5728 |
| &nbsp;&nbsp;&nbsp; China Resources Land Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10237 |
| &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3164 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **China — continued** | **China — continued** | **China — continued** |
| &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd., Class H (a) | 1614 | 7941 |
| &nbsp;&nbsp;&nbsp; Guangdong Investment Ltd. | 2818 | 3062 |
| &nbsp;&nbsp;&nbsp; Haier Smart Home Co. Ltd., Class H | 3863 | 14247 |
| &nbsp;&nbsp;&nbsp; Huayu Automotive Systems Co. Ltd., Class A | 2218 | 6005 |
| &nbsp;&nbsp;&nbsp; Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 4003 | 19347 |
| &nbsp;&nbsp;&nbsp; Joyoung Co. Ltd., Class A | 1000 | 2759 |
| &nbsp;&nbsp;&nbsp; Midea Group Co. Ltd., Class A | 1105 | 9071 |
| &nbsp;&nbsp;&nbsp; NetEase, Inc. | 955 | 16942 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | 85 | 15750 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., Class H | 1785 | 13861 |
| &nbsp;&nbsp;&nbsp; Tingyi Cayman Islands Holding Corp. | 4828 | 8032 |
| &nbsp;&nbsp;&nbsp; Topsports International Holdings Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3527 |
| &nbsp;&nbsp;&nbsp; Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14719 |
| &nbsp;&nbsp;&nbsp; Xinyi Glass Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6292 |
| &nbsp;&nbsp;&nbsp; Yum China Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3117 |
| &nbsp;&nbsp;&nbsp; Zhejiang Supor Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 206576 |
| **Denmark — 0.4%** | **Denmark — 0.4%** | **Denmark — 0.4%** |
| &nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3563 |
| &nbsp;&nbsp;&nbsp; Carlsberg A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10283 |
| &nbsp;&nbsp;&nbsp; D/S Norden A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2972 |
| &nbsp;&nbsp;&nbsp; Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19801 |
| &nbsp;&nbsp;&nbsp; Topdanmark A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1519 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38138 |
| **Egypt — 0.0% ^** | **Egypt — 0.0% ^** | **Egypt — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Energean plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2230 |
| **Finland — 0.6%** | **Finland — 0.6%** | **Finland — 0.6%** |
| &nbsp;&nbsp;&nbsp; Elisa OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5482 |
| &nbsp;&nbsp;&nbsp; Fortum OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5652 |
| &nbsp;&nbsp;&nbsp; Kone OYJ, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3733 |
| &nbsp;&nbsp;&nbsp; Konecranes OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1720 |
| &nbsp;&nbsp;&nbsp; Metso Outotec OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2631 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20297 |
| &nbsp;&nbsp;&nbsp; Orion OYJ, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7557 |
| &nbsp;&nbsp;&nbsp; Outokumpu OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2787 |
| &nbsp;&nbsp;&nbsp; Sampo OYJ, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4141 |
| &nbsp;&nbsp;&nbsp; TietoEVRY OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2234 |
| &nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2863 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59097 |
| **France — 1.5%** | **France — 1.5%** | **France — 1.5%** |
| &nbsp;&nbsp;&nbsp; Amundi SA (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2414 |
| &nbsp;&nbsp;&nbsp; AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5970 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7182 |
| &nbsp;&nbsp;&nbsp; Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9503 |
| &nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9451 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **France — continued** | **France — continued** | **France — continued** |
| &nbsp;&nbsp;&nbsp; Covivio, REIT | 27 | 1868 |
| &nbsp;&nbsp;&nbsp; Danone SA | 77 | 4213 |
| &nbsp;&nbsp;&nbsp; Eiffage SA | 24 | 2516 |
| &nbsp;&nbsp;&nbsp; Engie SA | 474 | 6732 |
| &nbsp;&nbsp;&nbsp; Gaztransport Et Technigaz SA | 24 | 2656 |
| &nbsp;&nbsp;&nbsp; Klepierre SA, REIT \* | 317 | 8049 |
| &nbsp;&nbsp;&nbsp; La Francaise des Jeux SAEM (a) | 58 | 2505 |
| &nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | 31 | 27083 |
| &nbsp;&nbsp;&nbsp; Orange SA | 533 | 5639 |
| &nbsp;&nbsp;&nbsp; Publicis Groupe SA | 62 | 4342 |
| &nbsp;&nbsp;&nbsp; Rexel SA \* | 108 | 2392 |
| &nbsp;&nbsp;&nbsp; Rubis SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2709 |
| &nbsp;&nbsp;&nbsp; SCOR SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2148 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2487 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15686 |
| &nbsp;&nbsp;&nbsp; Verallia SA (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1166 |
| &nbsp;&nbsp;&nbsp; Vinci SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22819 |
| &nbsp;&nbsp;&nbsp; Vivendi SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5793 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 155323 |
| **Germany — 1.2%** | **Germany — 1.2%** | **Germany — 1.2%** |
| &nbsp;&nbsp;&nbsp; Allianz SE (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28432 |
| &nbsp;&nbsp;&nbsp; BASF SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3514 |
| &nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4850 |
| &nbsp;&nbsp;&nbsp; Covestro AG (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3520 |
| &nbsp;&nbsp;&nbsp; Deutsche Post AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9799 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18186 |
| &nbsp;&nbsp;&nbsp; E.ON SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2834 |
| &nbsp;&nbsp;&nbsp; Freenet AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5073 |
| &nbsp;&nbsp;&nbsp; LEG Immobilien SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4748 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6015 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18689 |
| &nbsp;&nbsp;&nbsp; Siemens AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6784 |
| &nbsp;&nbsp;&nbsp; Telefonica Deutschland Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8270 |
| &nbsp;&nbsp;&nbsp; Vonovia SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8972 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 129686 |
| **Hong Kong — 0.5%** | **Hong Kong — 0.5%** | **Hong Kong — 0.5%** |
| &nbsp;&nbsp;&nbsp; CK Asset Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2123 |
| &nbsp;&nbsp;&nbsp; CK Infrastructure Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2545 |
| &nbsp;&nbsp;&nbsp; CLP Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2366 |
| &nbsp;&nbsp;&nbsp; Hang Seng Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6270 |
| &nbsp;&nbsp;&nbsp; HK Electric Investments & HK Electric Investments Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 530 |
| &nbsp;&nbsp;&nbsp; HKBN Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1266 |
| &nbsp;&nbsp;&nbsp; HKT Trust & HKT Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6374 |
| &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7966 |
| &nbsp;&nbsp;&nbsp; Link, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5754 |
| &nbsp;&nbsp;&nbsp; New World Development Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3718 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Hong Kong — continued** | **Hong Kong — continued** | **Hong Kong — continued** |
| &nbsp;&nbsp;&nbsp; Orient Overseas International Ltd. | 101 | 1679 |
| &nbsp;&nbsp;&nbsp; PCCW Ltd. | 3791 | 1863 |
| &nbsp;&nbsp;&nbsp; Power Assets Holdings Ltd. | 485 | 2747 |
| &nbsp;&nbsp;&nbsp; VTech Holdings Ltd. | 293 | 1938 |
| &nbsp;&nbsp;&nbsp; WH Group Ltd. (a) | 3315 | 2042 |
| &nbsp;&nbsp;&nbsp; Yue Yuen Industrial Holdings Ltd. | 1235 | 2026 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51207 |
| **India — 0.3%** | **India — 0.3%** | **India — 0.3%** |
| &nbsp;&nbsp;&nbsp; Embassy Office Parks, REIT | 427 | 1713 |
| &nbsp;&nbsp;&nbsp; HCL Technologies Ltd. | 701 | 9667 |
| &nbsp;&nbsp;&nbsp; Infosys Ltd., ADR | 797 | 14990 |
| &nbsp;&nbsp;&nbsp; Tata Consultancy Services Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5137 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31507 |
| **Indonesia — 0.3%** | **Indonesia — 0.3%** | **Indonesia — 0.3%** |
| &nbsp;&nbsp;&nbsp; Bank Rakyat Indonesia Persero Tbk. PT | &nbsp;&nbsp;&nbsp;&nbsp; 53436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16387 |
| &nbsp;&nbsp;&nbsp; Telkom Indonesia Persero Tbk. PT | &nbsp;&nbsp;&nbsp;&nbsp; 54389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14056 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30443 |
| **Ireland — 0.0% ^** | **Ireland — 0.0% ^** | **Ireland — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; CRH plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3848 |
| **Italy — 0.8%** | **Italy — 0.8%** | **Italy — 0.8%** |
| &nbsp;&nbsp;&nbsp; A2A SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8302 |
| &nbsp;&nbsp;&nbsp; ACEA SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1135 |
| &nbsp;&nbsp;&nbsp; Assicurazioni Generali SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7116 |
| &nbsp;&nbsp;&nbsp; Azimut Holding SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2749 |
| &nbsp;&nbsp;&nbsp; Banca Generali SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2751 |
| &nbsp;&nbsp;&nbsp; Banca Mediolanum SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7011 |
| &nbsp;&nbsp;&nbsp; Enel SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2416 |
| &nbsp;&nbsp;&nbsp; Eni SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10156 |
| &nbsp;&nbsp;&nbsp; Hera SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2522 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11993 |
| &nbsp;&nbsp;&nbsp; Iren SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1948 |
| &nbsp;&nbsp;&nbsp; Italgas SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2624 |
| &nbsp;&nbsp;&nbsp; Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2283 |
| &nbsp;&nbsp;&nbsp; Poste Italiane SpA (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3107 |
| &nbsp;&nbsp;&nbsp; Snam SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2825 |
| &nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2970 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5173 |
| &nbsp;&nbsp;&nbsp; Unipol Gruppo SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1666 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78747 |
| **Japan — 1.8%** | **Japan — 1.8%** | **Japan — 1.8%** |
| &nbsp;&nbsp;&nbsp; Aozora Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4415 |
| &nbsp;&nbsp;&nbsp; ARTERIA Networks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1739 |
| &nbsp;&nbsp;&nbsp; Bridgestone Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9498 |
| &nbsp;&nbsp;&nbsp; Canon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2397 |
| &nbsp;&nbsp;&nbsp; Chubu Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2996 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Japan — continued** | **Japan — continued** | **Japan — continued** |
| &nbsp;&nbsp;&nbsp; Chugoku Electric Power Co., Inc. (The) | 158 | 866 |
| &nbsp;&nbsp;&nbsp; Comforia Residential REIT, Inc., REIT | 1 | 1635 |
| &nbsp;&nbsp;&nbsp; Dai Nippon Printing Co. Ltd. | 157 | 3714 |
| &nbsp;&nbsp;&nbsp; Daiwa House REIT Investment Corp., REIT | 1 | 2067 |
| &nbsp;&nbsp;&nbsp; Electric Power Development Co. Ltd. | 333 | 5368 |
| &nbsp;&nbsp;&nbsp; ENEOS Holdings, Inc. | 504 | 1804 |
| &nbsp;&nbsp;&nbsp; FANUC Corp. | 82 | 14418 |
| &nbsp;&nbsp;&nbsp; Frontier Real Estate Investment Corp., REIT | 1 | 2406 |
| &nbsp;&nbsp;&nbsp; Hokkaido Electric Power Co., Inc. | 329 | 1219 |
| &nbsp;&nbsp;&nbsp; Idemitsu Kosan Co. Ltd. | 237 | 5933 |
| &nbsp;&nbsp;&nbsp; Japan Metropolitan Fund Invest, REIT | 5 | 3835 |
| &nbsp;&nbsp;&nbsp; Japan Post Holdings Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6322 |
| &nbsp;&nbsp;&nbsp; Japan Tobacco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3558 |
| &nbsp;&nbsp;&nbsp; Kansai Electric Power Co., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6289 |
| &nbsp;&nbsp;&nbsp; KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2927 |
| &nbsp;&nbsp;&nbsp; Kenedix Office Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1896 |
| &nbsp;&nbsp;&nbsp; Kyushu Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4069 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5932 |
| &nbsp;&nbsp;&nbsp; Mitsui Fudosan Logistics Park, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1864 |
| &nbsp;&nbsp;&nbsp; Nippon Accommodations Fund, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2208 |
| &nbsp;&nbsp;&nbsp; Nippon Prologis REIT, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2092 |
| &nbsp;&nbsp;&nbsp; Nippon Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3103 |
| &nbsp;&nbsp;&nbsp; Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8840 |
| &nbsp;&nbsp;&nbsp; Okinawa Electric Power Co., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1074 |
| &nbsp;&nbsp;&nbsp; Osaka Gas Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp; Sharp Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2759 |
| &nbsp;&nbsp;&nbsp; Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16276 |
| &nbsp;&nbsp;&nbsp; SoftBank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9267 |
| &nbsp;&nbsp;&nbsp; Sumitomo Forestry Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1404 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5486 |
| &nbsp;&nbsp;&nbsp; Tohoku Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2887 |
| &nbsp;&nbsp;&nbsp; Tokio Marine Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9373 |
| &nbsp;&nbsp;&nbsp; Tokyo Electron Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12128 |
| &nbsp;&nbsp;&nbsp; Tokyo Gas Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7570 |
| &nbsp;&nbsp;&nbsp; United Urban Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2152 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 185262 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| &nbsp;&nbsp;&nbsp; Intelsat SA ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6475 |
| &nbsp;&nbsp;&nbsp; SES SA, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1614 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8089 |
| **Mexico — 0.5%** | **Mexico — 0.5%** | **Mexico — 0.5%** |
| &nbsp;&nbsp;&nbsp; Bolsa Mexicana de Valores SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1030 |
| &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13371 |
| &nbsp;&nbsp;&nbsp; Grupo Mexico SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1480 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3548 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Mexico — continued** | **Mexico — continued** | **Mexico — continued** |
| &nbsp;&nbsp;&nbsp; Southern Copper Corp. | 203 | 15289 |
| &nbsp;&nbsp;&nbsp; Wal-Mart de Mexico SAB de CV | 3531 | 13792 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48510 |
| **Netherlands — 0.6%** | **Netherlands — 0.6%** | **Netherlands — 0.6%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV, CVA (a) | 151 | 2512 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | 25 | 16146 |
| &nbsp;&nbsp;&nbsp; ASR Nederland NV | 59 | 2786 |
| &nbsp;&nbsp;&nbsp; BE Semiconductor Industries NV | 47 | 3335 |
| &nbsp;&nbsp;&nbsp; ING Groep NV | 303 | 4389 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | 107 | 3185 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | 1470 | 5026 |
| &nbsp;&nbsp;&nbsp; NN Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2797 |
| &nbsp;&nbsp;&nbsp; OCI NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3007 |
| &nbsp;&nbsp;&nbsp; Randstad NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3187 |
| &nbsp;&nbsp;&nbsp; Shell plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14093 |
| &nbsp;&nbsp;&nbsp; Wolters Kluwer NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2633 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63096 |
| **New Zealand — 0.1%** | **New Zealand — 0.1%** | **New Zealand — 0.1%** |
| &nbsp;&nbsp;&nbsp; Contact Energy Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3536 |
| &nbsp;&nbsp;&nbsp; Spark New Zealand Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5780 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9316 |
| **Norway — 0.3%** | **Norway — 0.3%** | **Norway — 0.3%** |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1391 |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2699 |
| &nbsp;&nbsp;&nbsp; Elkem ASA (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2108 |
| &nbsp;&nbsp;&nbsp; Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3975 |
| &nbsp;&nbsp;&nbsp; FLEX LNG Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1319 |
| &nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2166 |
| &nbsp;&nbsp;&nbsp; Norsk Hydro ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3460 |
| &nbsp;&nbsp;&nbsp; SFL Corp. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2868 |
| &nbsp;&nbsp;&nbsp; Telenor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8681 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28667 |
| **Poland — 0.1%** | **Poland — 0.1%** | **Poland — 0.1%** |
| &nbsp;&nbsp;&nbsp; Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6871 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| &nbsp;&nbsp;&nbsp; EDP - Energias de Portugal SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2625 |
| &nbsp;&nbsp;&nbsp; Galp Energia SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3040 |
| &nbsp;&nbsp;&nbsp; Jeronimo Martins SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1510 |
| &nbsp;&nbsp;&nbsp; Navigator Co. SA (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1890 |
| &nbsp;&nbsp;&nbsp; NOS SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1852 |
| &nbsp;&nbsp;&nbsp; Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1114 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12031 |
| **Russia — 0.0% ^** | **Russia — 0.0% ^** | **Russia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Moscow Exchange MICEX-RTS PJSC ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Russia — continued** | **Russia — continued** | **Russia — continued** |
| &nbsp;&nbsp;&nbsp; Severstal PAO, GDR ‡ \* (a) | 10 | 3 |
| &nbsp;&nbsp;&nbsp; Severstal PAO, GDR ‡ \* (a) | 132 | 42 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
| **Saudi Arabia — 0.1%** | **Saudi Arabia — 0.1%** | **Saudi Arabia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Al Rajhi Bank \* | 261 | 5730 |
| **Singapore — 0.4%** | **Singapore — 0.4%** | **Singapore — 0.4%** |
| &nbsp;&nbsp;&nbsp; BW LPG Ltd. (a) | 345 | 2857 |
| &nbsp;&nbsp;&nbsp; CapitaLand Ascendas, REIT | 2520 | 5545 |
| &nbsp;&nbsp;&nbsp; CapitaLand Integrated Commercial Trust, REIT | 4118 | 6738 |
| &nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd. | 449 | 12286 |
| &nbsp;&nbsp;&nbsp; Digital Core REIT Management Pte. Ltd., REIT | 2467 | 1559 |
| &nbsp;&nbsp;&nbsp; Keppel Infrastructure Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1426 |
| &nbsp;&nbsp;&nbsp; NETLINK NBN TRUST (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2361 |
| &nbsp;&nbsp;&nbsp; Singapore Exchange Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9693 |
| &nbsp;&nbsp;&nbsp; Singapore Telecommunications Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2797 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45262 |
| **South Africa — 0.5%** | **South Africa — 0.5%** | **South Africa — 0.5%** |
| &nbsp;&nbsp;&nbsp; Anglo American plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9875 |
| &nbsp;&nbsp;&nbsp; AVI Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 995 |
| &nbsp;&nbsp;&nbsp; Bid Corp. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6920 |
| &nbsp;&nbsp;&nbsp; Bidvest Group Ltd. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5485 |
| &nbsp;&nbsp;&nbsp; FirstRand Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4174 |
| &nbsp;&nbsp;&nbsp; Sanlam Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7618 |
| &nbsp;&nbsp;&nbsp; Standard Bank Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5823 |
| &nbsp;&nbsp;&nbsp; Vodacom Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50126 |
| **South Korea — 0.8%** | **South Korea — 0.8%** | **South Korea — 0.8%** |
| &nbsp;&nbsp;&nbsp; ESR Kendall Square REIT Co. Ltd., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 856 |
| &nbsp;&nbsp;&nbsp; Hana Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2344 |
| &nbsp;&nbsp;&nbsp; KB Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8234 |
| &nbsp;&nbsp;&nbsp; Kia Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5673 |
| &nbsp;&nbsp;&nbsp; Korea Gas Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1002 |
| &nbsp;&nbsp;&nbsp; LG Uplus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 |
| &nbsp;&nbsp;&nbsp; NCSoft Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3311 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37664 |
| &nbsp;&nbsp;&nbsp; Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8570 |
| &nbsp;&nbsp;&nbsp; SK Telecom Co. Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1487 |
| &nbsp;&nbsp;&nbsp; SK Telecom Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10911 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82552 |
| **Spain — 1.0%** | **Spain — 1.0%** | **Spain — 1.0%** |
| &nbsp;&nbsp;&nbsp; Acerinox SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2211 |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3131 |
| &nbsp;&nbsp;&nbsp; Atlantica Sustainable Infrastructure plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2315 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4652 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4934 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Spain — continued** | **Spain — continued** | **Spain — continued** |
| &nbsp;&nbsp;&nbsp; CaixaBank SA (b) | 924 | 4099 |
| &nbsp;&nbsp;&nbsp; Cellnex Telecom SA (a) | 69 | 2722 |
| &nbsp;&nbsp;&nbsp; Cia de Distribucion Integral Logista Holdings SA | 105 | 2835 |
| &nbsp;&nbsp;&nbsp; Enagas SA | 135 | 2426 |
| &nbsp;&nbsp;&nbsp; Endesa SA | 492 | 9803 |
| &nbsp;&nbsp;&nbsp; Iberdrola SA \* | 8 | 91 |
| &nbsp;&nbsp;&nbsp; Iberdrola SA | 1935 | 22700 |
| &nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA | 142 | 4444 |
| &nbsp;&nbsp;&nbsp; Mapfre SA | 1359 | 2734 |
| &nbsp;&nbsp;&nbsp; Merlin Properties Socimi SA, REIT | 188 | 1842 |
| &nbsp;&nbsp;&nbsp; Naturgy Energy Group SA | 382 | 10828 |
| &nbsp;&nbsp;&nbsp; Red Electrica Corp. SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2670 |
| &nbsp;&nbsp;&nbsp; Repsol SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7604 |
| &nbsp;&nbsp;&nbsp; Telefonica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8006 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 100047 |
| **Sweden — 0.5%** | **Sweden — 0.5%** | **Sweden — 0.5%** |
| &nbsp;&nbsp;&nbsp; Boliden AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3999 |
| &nbsp;&nbsp;&nbsp; Hexpol AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1854 |
| &nbsp;&nbsp;&nbsp; Orron Energy ab | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2255 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2913 |
| &nbsp;&nbsp;&nbsp; SSAB AB, Class B (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3425 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2430 |
| &nbsp;&nbsp;&nbsp; Tele2 AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8294 |
| &nbsp;&nbsp;&nbsp; Telia Co. AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2160 |
| &nbsp;&nbsp;&nbsp; Volvo AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25269 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52599 |
| **Switzerland — 0.6%** | **Switzerland — 0.6%** | **Switzerland — 0.6%** |
| &nbsp;&nbsp;&nbsp; ABB Ltd. (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5506 |
| &nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6247 |
| &nbsp;&nbsp;&nbsp; Julius Baer Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3090 |
| &nbsp;&nbsp;&nbsp; Novartis AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13123 |
| &nbsp;&nbsp;&nbsp; Swisscom AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2877 |
| &nbsp;&nbsp;&nbsp; UBS Group AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6488 |
| &nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21645 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58976 |
| **Taiwan — 0.9%** | **Taiwan — 0.9%** | **Taiwan — 0.9%** |
| &nbsp;&nbsp;&nbsp; Accton Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1324 |
| &nbsp;&nbsp;&nbsp; ASE Technology Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6360 |
| &nbsp;&nbsp;&nbsp; Chailease Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2897 |
| &nbsp;&nbsp;&nbsp; Delta Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2912 |
| &nbsp;&nbsp;&nbsp; MediaTek, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1885 |
| &nbsp;&nbsp;&nbsp; Mega Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2359 |
| &nbsp;&nbsp;&nbsp; Novatek Microelectronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10753 |
| &nbsp;&nbsp;&nbsp; President Chain Store Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8017 |
| &nbsp;&nbsp;&nbsp; Quanta Computer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2010 |
| &nbsp;&nbsp;&nbsp; Realtek Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4349 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Taiwan — continued** | **Taiwan — continued** | **Taiwan — continued** |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 79 | 7247 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | 2215 | 39088 |
| &nbsp;&nbsp;&nbsp; Vanguard International Semiconductor Corp. | 2174 | 7307 |
| &nbsp;&nbsp;&nbsp; Wiwynn Corp. | 67 | 1683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98191 |
| **Thailand — 0.1%** | **Thailand — 0.1%** | **Thailand — 0.1%** |
| &nbsp;&nbsp;&nbsp; SCB X PCL | 2369 | 7505 |
| &nbsp;&nbsp;&nbsp; Siam Cement PCL (The) (Registered) | 477 | 4862 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12367 |
| **United Kingdom — 2.4%** | **United Kingdom — 2.4%** | **United Kingdom — 2.4%** |
| &nbsp;&nbsp;&nbsp; 3i Group plc | 200 | 3893 |
| &nbsp;&nbsp;&nbsp; AstraZeneca plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26274 |
| &nbsp;&nbsp;&nbsp; Aviva plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3627 |
| &nbsp;&nbsp;&nbsp; B&M European Value Retail SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2819 |
| &nbsp;&nbsp;&nbsp; Balfour Beatty plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2751 |
| &nbsp;&nbsp;&nbsp; Barclays plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5573 |
| &nbsp;&nbsp;&nbsp; Barratt Developments plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7940 |
| &nbsp;&nbsp;&nbsp; Berkeley Group Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2769 |
| &nbsp;&nbsp;&nbsp; Big Yellow Group plc, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1862 |
| &nbsp;&nbsp;&nbsp; BP plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15429 |
| &nbsp;&nbsp;&nbsp; British American Tobacco plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1551 |
| &nbsp;&nbsp;&nbsp; BT Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2423 |
| &nbsp;&nbsp;&nbsp; Burberry Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3511 |
| &nbsp;&nbsp;&nbsp; Centrica plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2928 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4203 |
| &nbsp;&nbsp;&nbsp; Compass Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3423 |
| &nbsp;&nbsp;&nbsp; Diageo plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12175 |
| &nbsp;&nbsp;&nbsp; Direct Line Insurance Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3387 |
| &nbsp;&nbsp;&nbsp; Dunelm Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2408 |
| &nbsp;&nbsp;&nbsp; Hays plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1969 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9770 |
| &nbsp;&nbsp;&nbsp; IG Group Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2809 |
| &nbsp;&nbsp;&nbsp; Imperial Brands plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7250 |
| &nbsp;&nbsp;&nbsp; InterContinental Hotels Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8635 |
| &nbsp;&nbsp;&nbsp; Investec plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2730 |
| &nbsp;&nbsp;&nbsp; J Sainsbury plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2732 |
| &nbsp;&nbsp;&nbsp; Legal & General Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3743 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4742 |
| &nbsp;&nbsp;&nbsp; LondonMetric Property plc, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2369 |
| &nbsp;&nbsp;&nbsp; Man Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2883 |
| &nbsp;&nbsp;&nbsp; National Grid plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2781 |
| &nbsp;&nbsp;&nbsp; NatWest Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3368 |
| &nbsp;&nbsp;&nbsp; Next plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2078 |
| &nbsp;&nbsp;&nbsp; OSB Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1827 |
| &nbsp;&nbsp;&nbsp; Pagegroup plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2120 |
| &nbsp;&nbsp;&nbsp; Pearson plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2241 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United Kingdom — continued** | **United Kingdom — continued** | **United Kingdom — continued** |
| &nbsp;&nbsp;&nbsp; Persimmon plc | 370 | 6466 |
| &nbsp;&nbsp;&nbsp; RELX plc | 425 | 12639 |
| &nbsp;&nbsp;&nbsp; Safestore Holdings plc, REIT | 189 | 2352 |
| &nbsp;&nbsp;&nbsp; Sage Group plc (The) | 636 | 6109 |
| &nbsp;&nbsp;&nbsp; Segro plc, REIT | 281 | 2895 |
| &nbsp;&nbsp;&nbsp; Severn Trent plc | 84 | 2917 |
| &nbsp;&nbsp;&nbsp; SSE plc | 449 | 9582 |
| &nbsp;&nbsp;&nbsp; Taylor Wimpey plc | 2278 | 3305 |
| &nbsp;&nbsp;&nbsp; Telecom Plus plc | 88 | 2177 |
| &nbsp;&nbsp;&nbsp; Tesco plc | 876 | 2663 |
| &nbsp;&nbsp;&nbsp; Unilever plc | 208 | 10607 |
| &nbsp;&nbsp;&nbsp; UNITE Group plc (The), REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2053 |
| &nbsp;&nbsp;&nbsp; United Utilities Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2876 |
| &nbsp;&nbsp;&nbsp; Vodafone Group plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2404 |
| &nbsp;&nbsp;&nbsp; WPP plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6313 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 248351 |
| **United States — 16.0%** | **United States — 16.0%** | **United States — 16.0%** |
| &nbsp;&nbsp;&nbsp; 3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5402 |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2470 |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48647 |
| &nbsp;&nbsp;&nbsp; Accenture plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1649 |
| &nbsp;&nbsp;&nbsp; AGNC Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7359 |
| &nbsp;&nbsp;&nbsp; Air Products and Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4596 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7048 |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5969 |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3392 |
| &nbsp;&nbsp;&nbsp; American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3042 |
| &nbsp;&nbsp;&nbsp; American Tower Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4174 |
| &nbsp;&nbsp;&nbsp; Americold Realty Trust, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4260 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6571 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15590 |
| &nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6842 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 784 |
| &nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2947 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10285 |
| &nbsp;&nbsp;&nbsp; Avangrid, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5667 |
| &nbsp;&nbsp;&nbsp; Avista Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2720 |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6983 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18525 |
| &nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6158 |
| &nbsp;&nbsp;&nbsp; BlackRock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2920 |
| &nbsp;&nbsp;&nbsp; Boston Properties, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5626 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38077 |
| &nbsp;&nbsp;&nbsp; Camden Property Trust, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6869 |
| &nbsp;&nbsp;&nbsp; Campbell Soup Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7112 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5922 |
| &nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5681 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Chesapeake Energy Corp. | 54 | 4640 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | 75 | 13005 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. | 43 | 6115 |
| &nbsp;&nbsp;&nbsp; Chubb Ltd. | 25 | 5581 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 143 | 6971 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. | 32 | 1690 |
| &nbsp;&nbsp;&nbsp; Claire's Stores, Inc. ‡ \* | 4 | 1360 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. \* | 287 | 548 |
| &nbsp;&nbsp;&nbsp; Clearway Energy, Inc., Class C | 70 | 2363 |
| &nbsp;&nbsp;&nbsp; Clorox Co. (The) | 48 | 6926 |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. | 162 | 28679 |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2658 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39275 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2954 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20291 |
| &nbsp;&nbsp;&nbsp; Comerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6075 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6158 |
| &nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6759 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5115 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2062 |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6328 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3444 |
| &nbsp;&nbsp;&nbsp; Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9410 |
| &nbsp;&nbsp;&nbsp; DHT Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1639 |
| &nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5572 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6693 |
| &nbsp;&nbsp;&nbsp; Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3740 |
| &nbsp;&nbsp;&nbsp; Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16817 |
| &nbsp;&nbsp;&nbsp; DT Midstream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2108 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9548 |
| &nbsp;&nbsp;&nbsp; Eastman Chemical Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13033 |
| &nbsp;&nbsp;&nbsp; Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22511 |
| &nbsp;&nbsp;&nbsp; Edison International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7096 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1966 |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6526 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6523 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10363 |
| &nbsp;&nbsp;&nbsp; EP Energy Corp. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 988 |
| &nbsp;&nbsp;&nbsp; Equinix, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20043 |
| &nbsp;&nbsp;&nbsp; Equitrans Midstream Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2067 |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5714 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9521 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14189 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6297 |
| &nbsp;&nbsp;&nbsp; Federal Realty Investment Trust, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11097 |
| &nbsp;&nbsp;&nbsp; Ferguson plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3416 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2858 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Frontier Communications Parent, Inc. \* (b) | 155 | 4577 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | 21 | 4968 |
| &nbsp;&nbsp;&nbsp; General Mills, Inc. | 66 | 5149 |
| &nbsp;&nbsp;&nbsp; Genuine Parts Co. | 40 | 6643 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 83 | 7002 |
| &nbsp;&nbsp;&nbsp; Goodman Networks, Inc. ‡ \* | 54 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; GSK plc | 737 | 12948 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Corp. \* | 110 | 7523 |
| &nbsp;&nbsp;&nbsp; Hasbro, Inc. | 74 | 4359 |
| &nbsp;&nbsp;&nbsp; Hawaiian Electric Industries, Inc. | 70 | 2965 |
| &nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc., REIT | 249 | 6830 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7163 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4896 |
| &nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7005 |
| &nbsp;&nbsp;&nbsp; HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1731 |
| &nbsp;&nbsp;&nbsp; iHeartMedia, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4580 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8718 |
| &nbsp;&nbsp;&nbsp; International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6275 |
| &nbsp;&nbsp;&nbsp; Interpublic Group of Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8010 |
| &nbsp;&nbsp;&nbsp; Invitation Homes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7073 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7346 |
| &nbsp;&nbsp;&nbsp; J M Smucker Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5152 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45646 |
| &nbsp;&nbsp;&nbsp; Juniper Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7190 |
| &nbsp;&nbsp;&nbsp; Kellogg Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6410 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8929 |
| &nbsp;&nbsp;&nbsp; Kilroy Realty Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2331 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6990 |
| &nbsp;&nbsp;&nbsp; Kimco Realty Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7902 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17352 |
| &nbsp;&nbsp;&nbsp; Kite Realty Group Trust, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2513 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7543 |
| &nbsp;&nbsp;&nbsp; Laureate Education, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2373 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8262 |
| &nbsp;&nbsp;&nbsp; LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7464 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt plc \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8063 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19854 |
| &nbsp;&nbsp;&nbsp; Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3186 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31726 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2727 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3895 |
| &nbsp;&nbsp;&nbsp; Moran Foods Backstop Equity ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6989 |
| &nbsp;&nbsp;&nbsp; MYT Holding Co. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1028 |
| &nbsp;&nbsp;&nbsp; National Retail Properties, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3369 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Nestle SA (Registered) | 145 | 17749 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 82 | 5460 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. | 489 | 7802 |
| &nbsp;&nbsp;&nbsp; Newmont Corp. | 95 | 5023 |
| &nbsp;&nbsp;&nbsp; NextEra Energy, Inc. | 157 | 11750 |
| &nbsp;&nbsp;&nbsp; NMG, Inc. ‡ \* (b) | 41 | 6339 |
| &nbsp;&nbsp;&nbsp; NMG, Inc. ‡ \* | 4 | 672 |
| &nbsp;&nbsp;&nbsp; Nordic American Tankers Ltd. | 787 | 2393 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 42 | 10325 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | 3 | 1443 |
| &nbsp;&nbsp;&nbsp; NorthWestern Corp. | 50 | 2831 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2323 |
| &nbsp;&nbsp;&nbsp; OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2716 |
| &nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8102 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10508 |
| &nbsp;&nbsp;&nbsp; PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7661 |
| &nbsp;&nbsp;&nbsp; Park Hotels & Resorts, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2364 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1911 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4628 |
| &nbsp;&nbsp;&nbsp; Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1880 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12712 |
| &nbsp;&nbsp;&nbsp; Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6972 |
| &nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9741 |
| &nbsp;&nbsp;&nbsp; Pioneer Natural Resources Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6527 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3210 |
| &nbsp;&nbsp;&nbsp; PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3422 |
| &nbsp;&nbsp;&nbsp; PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9629 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27239 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6025 |
| &nbsp;&nbsp;&nbsp; Prologis, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40469 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6940 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2749 |
| &nbsp;&nbsp;&nbsp; Public Storage, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17906 |
| &nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12432 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6868 |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6653 |
| &nbsp;&nbsp;&nbsp; Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1333 |
| &nbsp;&nbsp;&nbsp; Rexford Industrial Realty, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4666 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21147 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12634 |
| &nbsp;&nbsp;&nbsp; Shenandoah Telecommunications Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1532 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7981 |
| &nbsp;&nbsp;&nbsp; Sirius XM Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6157 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8939 |
| &nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5611 |
| &nbsp;&nbsp;&nbsp; Stellantis NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12480 |
| &nbsp;&nbsp;&nbsp; Sun Communities, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14018 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Sysco Corp. | 40 | 3083 |
| &nbsp;&nbsp;&nbsp; T. Rowe Price Group, Inc. | 57 | 6587 |
| &nbsp;&nbsp;&nbsp; Target Corp. | 56 | 9674 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | 143 | 25357 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. (The) | 172 | 14101 |
| &nbsp;&nbsp;&nbsp; Trane Technologies plc | 58 | 10437 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. | 204 | 10090 |
| &nbsp;&nbsp;&nbsp; UDR, Inc., REIT | 162 | 6918 |
| &nbsp;&nbsp;&nbsp; UGI Corp. | 68 | 2699 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | 58 | 11789 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc., Class B | 117 | 21589 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12724 |
| &nbsp;&nbsp;&nbsp; US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10750 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8173 |
| &nbsp;&nbsp;&nbsp; Ventas, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12043 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21803 |
| &nbsp;&nbsp;&nbsp; VF Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1850 |
| &nbsp;&nbsp;&nbsp; Viatris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2898 |
| &nbsp;&nbsp;&nbsp; VICI Properties, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25358 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1541 |
| &nbsp;&nbsp;&nbsp; VMware, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6955 |
| &nbsp;&nbsp;&nbsp; Vornado Realty Trust, REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1834 |
| &nbsp;&nbsp;&nbsp; Walgreens Boots Alliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5271 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2776 |
| &nbsp;&nbsp;&nbsp; Welltower, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13998 |
| &nbsp;&nbsp;&nbsp; Western Union Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5415 |
| &nbsp;&nbsp;&nbsp; Weyerhaeuser Co., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6721 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9512 |
| &nbsp;&nbsp;&nbsp; WP Carey, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11605 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13475 |
|  |  | &nbsp;&nbsp; 1663424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $3,324,322)<br>|  | &nbsp;&nbsp; 3916622 |
|  | **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Corporate Bonds — 31.9%** | **Corporate Bonds — 31.9%** | **Corporate Bonds — 31.9%** |
| **Australia — 0.2%** | **Australia — 0.2%** | **Australia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ausgrid Finance Pty. Ltd. 3.85%, 5/1/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp; Australia & New Zealand Banking Group Ltd. (USD ICE Swap Rate 5 Year + 5.17%), 6.75%, 6/15/2026 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5701 |
| &nbsp;&nbsp;&nbsp; FMG Resources August 2006 Pty. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 5/15/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/1/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 4/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 9/1/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Australia — continued** | **Australia — continued** | **Australia — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 9/23/2031 (c) | 63 | 53 |
| &nbsp;&nbsp;&nbsp; Macquarie Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.21%, 11/22/2024 (c) | 4200 | 4282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.69%), 1.20%, 10/14/2025 (c) (f) | 1293 | 1198 |
| &nbsp;&nbsp;&nbsp; Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 5/1/2027 (c) | 150 | 151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/1/2027 (c) | 149 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 5/1/2030 (c) | 750 | 775 |
| &nbsp;&nbsp;&nbsp; Sydney Airport Finance Co. Pty. Ltd. 3.90%, 3/22/2023 (c) | 441 | 440 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15241 |
| **Austria — 0.0% ^** | **Austria — 0.0% ^** | **Austria — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; ams-OSRAM AG 7.00%, 7/31/2025 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1232 |
| **Azerbaijan — 0.0% ^** | **Azerbaijan — 0.0% ^** | **Azerbaijan — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Southern Gas Corridor CJSC 6.88%, 3/24/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 976 |
| &nbsp;&nbsp;&nbsp; State Oil Co. of the Azerbaijan Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/13/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 3/18/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1541 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3199 |
| **Bahrain — 0.0% ^** | **Bahrain — 0.0% ^** | **Bahrain — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Oil and Gas Holding Co. BSCC (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 11/7/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 10/25/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1193 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1398 |
| **Belgium — 0.0% ^** | **Belgium — 0.0% ^** | **Belgium — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 |
| &nbsp;&nbsp;&nbsp; KBC Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 4.69%), 4.75%, 3/5/2024 (a) (d) (e) (f) | EUR 1,800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.10%), 5.80%, 1/19/2029 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2668 |
| **Brazil — 0.0% ^** | **Brazil — 0.0% ^** | **Brazil — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; CSN Resources SA 4.63%, 6/10/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp; Guara Norte SARL 5.20%, 6/15/2034 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp; Klabin Austria GmbH 7.00%, 4/3/2049 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1158 |
| &nbsp;&nbsp;&nbsp; MARB BondCo plc 3.95%, 1/29/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353 |
| &nbsp;&nbsp;&nbsp; MV24 Capital BV 6.75%, 6/1/2034 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 552 |
| &nbsp;&nbsp;&nbsp; Nexa Resources SA 5.38%, 5/4/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 561 |
| &nbsp;&nbsp;&nbsp; Petrobras Global Finance BV 6.85%, 6/5/2115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp; Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 3/16/2047 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp; Vale Overseas Ltd. 3.75%, 7/8/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4726 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Canada — 1.4%** | **Canada — 1.4%** | **Canada — 1.4%** |
| &nbsp;&nbsp;&nbsp; 1011778 BC ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 1/15/2028 (c) | 1870 | 1709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/15/2029 (c) | 1416 | 1239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2030 (c) | 3845 | 3273 |
| &nbsp;&nbsp;&nbsp; Athabasca Oil Corp. 9.75%, 11/1/2026 (c) | 321 | 337 |
| &nbsp;&nbsp;&nbsp; ATS Corp. 4.13%, 12/15/2028 (c) | 1373 | 1230 |
| &nbsp;&nbsp;&nbsp; Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 0.27%), 4.58%, 4/14/2023 (f) | 194 | 194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 12/12/2024 (b) | 4215 | 4243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, 4.70%, 9/14/2027 | 105 | 105 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.55%), 4.90%, 6/4/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/2/2026 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.61%), 3.62%, 10/27/2081 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.39%), 8.62%, 10/27/2082 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2449 |
| &nbsp;&nbsp;&nbsp; Baytex Energy Corp. 8.75%, 4/1/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5080 |
| &nbsp;&nbsp;&nbsp; Bell Canada (The) Series US-5, 2.15%, 2/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp; Bombardier, Inc. 7.88%, 4/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4681 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce 0.95%, 6/23/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575 |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Co. 2.45%, 12/2/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp; Emera US Finance LP 2.64%, 6/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. Series 16-A, (ICE LIBOR USD 3 Month + 5.44%), 6.75%, 6/15/2076 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 18724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18389 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 16-A, (ICE LIBOR USD 3 Month + 3.89%), 6.00%, 1/15/2077 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 20-A, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.31%), 5.75%, 7/15/2080 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 13544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.42%), 7.63%, 1/15/2083 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5592 |
| &nbsp;&nbsp;&nbsp; Federation des Caisses Desjardins du Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 1.09%), 5.28%, 1/23/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 8/23/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4272 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp. 4.63%, 2/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2171 |
| &nbsp;&nbsp;&nbsp; GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 8/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/1/2028 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2405 |
| &nbsp;&nbsp;&nbsp; goeasy Ltd. 5.38%, 12/1/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 770 |
| &nbsp;&nbsp;&nbsp; NOVA Chemicals Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/1/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4112 |
| &nbsp;&nbsp;&nbsp; Open Text Holdings, Inc. 4.13%, 2/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
| &nbsp;&nbsp;&nbsp; Precision Drilling Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 1/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499 |
| &nbsp;&nbsp;&nbsp; Ritchie Bros Auctioneers, Inc. 5.38%, 1/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1051 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Canada — continued** | **Canada — continued** | **Canada — continued** |
| &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 3/15/2032 (c) | 135 | 121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.59%), 5.25%, 3/15/2082 (c) (f) | 7435 | 6691 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 0.30%), 4.61%, 1/19/2024 (f) | 718 | 716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/12/2026 | 3350 | 3371 |
| &nbsp;&nbsp;&nbsp; Superior Plus LP 4.50%, 3/15/2029 (c) | 1621 | 1433 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 9/15/2027 | 95 | 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.08%), 8.12%, 10/31/2082 (f) | 8860 | 9403 |
| &nbsp;&nbsp;&nbsp; TransAlta Corp. 6.50%, 3/15/2040 | 135 | 129 |
| &nbsp;&nbsp;&nbsp; TransCanada PipeLines Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/16/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 5/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp; Transcanada Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 16-A, (ICE LIBOR USD 3 Month + 4.64%), 5.87%, 8/15/2076 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 4.42%), 5.50%, 9/15/2079 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8832 |
| &nbsp;&nbsp;&nbsp; Vermilion Energy, Inc. 6.88%, 5/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1083 |
| &nbsp;&nbsp;&nbsp; Videotron Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/15/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 6/15/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2978 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 149608 |
| **Cayman Islands — 0.0% ^** | **Cayman Islands — 0.0% ^** | **Cayman Islands — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd. 7.25% (PIK), 9/15/2024 (c) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 |
| **China — 0.4%** | **China — 0.4%** | **China — 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bluestar Finance Holdings Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 3 Year + 5.63%), 3.10%, 7/12/2024 (a) <br> (d) (e) (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp; Central Plaza Development Ltd. 4.65%, 1/19/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1795 |
| &nbsp;&nbsp;&nbsp; China Oil & Gas Group Ltd. 4.70%, 6/30/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1063 |
| &nbsp;&nbsp;&nbsp; Chong Hing Bank Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.86%), 5.70%, 7/15/2024 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 929 |
| &nbsp;&nbsp;&nbsp; CNOOC Petroleum North America ULC 6.40%, 5/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp; Country Garden Holdings Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 1/27/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 9/17/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 4/8/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 1/14/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 1/12/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575 |
| &nbsp;&nbsp;&nbsp; ENN Clean Energy International Investment Ltd. 3.38%, 5/12/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1532 |
| &nbsp;&nbsp;&nbsp; Gemdale Ever Prosperity Investment Ltd. 4.95%, 8/12/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp; GLP China Holdings Ltd. 4.97%, 2/26/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1391 |
| &nbsp;&nbsp;&nbsp; Golden Eagle Retail Group Ltd. 4.63%, 5/21/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2413 |
| &nbsp;&nbsp;&nbsp; Greentown China Holdings Ltd. 5.65%, 7/13/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 553 |
| &nbsp;&nbsp;&nbsp; Hopson Development Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 12/28/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 5/18/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2543 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **China — continued** | **China — continued** | **China — continued** |
| &nbsp;&nbsp;&nbsp; Huarong Finance 2019 Co. Ltd. 3.25%, 11/13/2024 (a) | 300 | 280 |
| &nbsp;&nbsp;&nbsp; Huarong Finance II Co. Ltd. 4.63%, 6/3/2026 (a) | 500 | 459 |
| &nbsp;&nbsp;&nbsp; Lenovo Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 4/24/2025 (a) | 300 | 300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 1/27/2028 (c) | 1300 | 1313 |
| &nbsp;&nbsp;&nbsp; Longfor Group Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/16/2028 (a) | 200 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 9/16/2029 (a) | 400 | 327 |
| &nbsp;&nbsp;&nbsp; New Metro Global Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 12/15/2024 (a) | 1100 | 935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/2025 (a) | 1300 | 1034 |
| &nbsp;&nbsp;&nbsp; RKPF Overseas Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 9/30/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 1/12/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1527 |
| &nbsp;&nbsp;&nbsp; Shandong Iron And Steel Xinheng International Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/5/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 7/28/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 903 |
| &nbsp;&nbsp;&nbsp; Shui On Development Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 3/3/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 6/29/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp; Sinochem Offshore Capital Co. Ltd. 2.38%, 9/23/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp; Vanke Real Estate Hong Kong Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.98%, 11/9/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/12/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp; West China Cement Ltd. 4.95%, 7/8/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1667 |
| &nbsp;&nbsp;&nbsp; Yancoal International Resources Development Co. Ltd. 3.50%, 11/4/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 |
| &nbsp;&nbsp;&nbsp; Yankuang Group Cayman Ltd. 4.00%, 7/16/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp; Yanlord Land HK Co. Ltd. 6.80%, 2/27/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3307 |
| &nbsp;&nbsp;&nbsp; Yunda Holding Investment Ltd. 2.25%, 8/19/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp; Zhongsheng Group Holdings Ltd. 3.00%, 1/13/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 408 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40281 |
| **Colombia — 0.0% ^** | **Colombia — 0.0% ^** | **Colombia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Ecopetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 9/18/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 9/18/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 5/28/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 523 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2946 |
| **Denmark — 0.0% ^** | **Denmark — 0.0% ^** | **Denmark — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.10%), 6.47%, 1/9/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.35%), 1.62%, 9/11/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1596 |
| **Finland — 0.1%** | **Finland — 0.1%** | **Finland — 0.1%** |
| &nbsp;&nbsp;&nbsp; Nokia OYJ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 6/12/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 945 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Finland — continued** | **Finland — continued** | **Finland — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/15/2039 | 50 | 51 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.11%), 6.63%, 3/26/2026 (c) (d) (e) (f) | 6265 | 6179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 9/30/2026 (c) | 2615 | 2311 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9486 |
| **France — 0.9%** | **France — 0.9%** | **France — 0.9%** |
| &nbsp;&nbsp;&nbsp; Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 2/1/2027 (c) | 3219 | 3018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 1/15/2028 (c) | 370 | 307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 7/15/2029 (c) | 6815 | 5349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2029 (c) | 3332 | 2635 |
| &nbsp;&nbsp;&nbsp; Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.65%, 2/27/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 2/4/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 1/26/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1419 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 2.24%), 4.70%, 1/10/2025 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/16/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.97%), 9.25%, 11/17/2027 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.90%), 7.75%, 8/16/2029 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3473 |
| &nbsp;&nbsp;&nbsp; BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/12/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.52%), 1.65%, 10/6/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), 5.97%, 1/18/2027 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/23/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2165 |
| &nbsp;&nbsp;&nbsp; CGG SA 8.75%, 4/1/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD Swap Semi 5 Year + 6.19%), 8.12%, 12/23/2025 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (BPISDS05 + 4.81%), 7.50%, 6/23/2026 (c) (d) (e) (f) | GBP 3,130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/10/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 4.37%), 4.00%, 12/23/2027 (a) (d) (e) (f) | EUR 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 7/12/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.24%), 4.75%, 3/23/2029 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5121 |
| &nbsp;&nbsp;&nbsp; Danone SA 2.59%, 11/2/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/17/2024 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 1/22/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 4/14/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD ICE Swap Rate 5 Year + 5.87%), 8.00%, 9/29/2025 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 6.45%, 1/12/2027 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.39%), 9.38%, 11/22/2027 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.80%, 1/19/2028 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.51%), 5.38%, 11/18/2030 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 10487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9018 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91969 |
| **Germany — 0.2%** | **Germany — 0.2%** | **Germany — 0.2%** |
| &nbsp;&nbsp;&nbsp; Bayer US Finance II LLC 4.63%, 6/25/2038 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Germany — continued** | **Germany — continued** | **Germany — continued** |
| &nbsp;&nbsp;&nbsp; Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 12/14/2023 (c) | 717 | 693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 1/17/2025 (c) | 1190 | 1196 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.16%), 2.22%, 9/18/2024 (f) | 7620 | 7459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.87%), 2.13%, 11/24/2026 (b) (f) | 5655 | 5102 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom International Finance BV 8.75%, 6/15/2030 (i) | 286 | 349 |
| &nbsp;&nbsp;&nbsp; TK Elevator US Newco, Inc. 5.25%, 7/15/2027 (c) | 3520 | 3258 |
| &nbsp;&nbsp;&nbsp; Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 5/12/2023 (c) | 230 | 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/13/2023 (c) | 462 | 458 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18930 |
| **Guatemala — 0.0% ^** | **Guatemala — 0.0% ^** | **Guatemala — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Energuate Trust 5.88%, 5/3/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1094 |
| **Hong Kong — 0.1%** | **Hong Kong — 0.1%** | **Hong Kong — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of East Asia Ltd. (The) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.53%), 5.83%, 10/21/2025 (a) <br> (d) (e) (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1662 |
| &nbsp;&nbsp;&nbsp; CAS Capital No. 1 Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.64%), 4.00%, 7/12/2026 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elect Global Investments Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.89%), 4.10%, 6/3/2025 (a) (d) <br> (e) (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 |
| &nbsp;&nbsp;&nbsp; FWD Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.87%), 8.04%, 6/15/2023 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.88%), 6.37%, 9/13/2024 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp; FWD Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.08%), 5.50%, 8/1/2023 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1598 |
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd. 5.63%, 7/17/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2086 |
| &nbsp;&nbsp;&nbsp; NWD Finance BVI Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 3 Year + 6.20%), 6.15%, 3/16/2025 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.86%), 4.12%, 3/10/2028 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1199 |
| &nbsp;&nbsp;&nbsp; NWD MTN Ltd. 4.13%, 7/18/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1373 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13699 |
| **India — 0.3%** | **India — 0.3%** | **India — 0.3%** |
| &nbsp;&nbsp;&nbsp; ABJA Investment Co. Pte. Ltd. 5.45%, 1/24/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1945 |
| &nbsp;&nbsp;&nbsp; Adani Transmission Step-One Ltd. 4.25%, 5/21/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp; Continuum Energy Levanter Pte. Ltd. 4.50%, 2/9/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1472 |
| &nbsp;&nbsp;&nbsp; Greenko Dutch BV 3.85%, 3/29/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1570 |
| &nbsp;&nbsp;&nbsp; Greenko Power II Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/13/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/13/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 |
| &nbsp;&nbsp;&nbsp; Greenko Solar Mauritius Ltd. 5.95%, 7/29/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp; Greenko Wind Projects Mauritius Ltd. 5.50%, 4/6/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 941 |
| &nbsp;&nbsp;&nbsp; HDFC Bank Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.93%), 3.70%, 8/25/2026 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 698 |
| &nbsp;&nbsp;&nbsp; HPCL-Mittal Energy Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 10/22/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/28/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1953 |
| &nbsp;&nbsp;&nbsp; India Green Energy Holdings 5.38%, 4/29/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2854 |
| &nbsp;&nbsp;&nbsp; India Green Power Holdings 4.00%, 2/22/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2713 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **India — continued** | **India — continued** | **India — continued** |
| &nbsp;&nbsp;&nbsp; JSW Infrastructure Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 1/21/2029 (c) | 800 | 704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 1/21/2029 (a) | 1200 | 1056 |
| &nbsp;&nbsp;&nbsp; JSW Steel Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 4/4/2025 (a) | 2200 | 2137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 4/5/2027 (c) | 600 | 528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 4/5/2027 (a) | 400 | 352 |
| &nbsp;&nbsp;&nbsp; Network i2i Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.27%), 5.65%, 1/15/2025 (a) (d) (e) (f) | 2900 | 2790 |
| &nbsp;&nbsp;&nbsp; ReNew Power Pvt Ltd. 5.88%, 3/5/2027 (a) | 200 | 191 |
| &nbsp;&nbsp;&nbsp; ReNew Wind Energy AP2 4.50%, 7/14/2028 (a) | 200 | 171 |
| &nbsp;&nbsp;&nbsp; TML Holdings Pte. Ltd. 4.35%, 6/9/2026 (a) | 1000 | 917 |
| &nbsp;&nbsp;&nbsp; Vedanta Resources Ltd. 7.13%, 5/31/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1785 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26870 |
| **Indonesia — 0.2%** | **Indonesia — 0.2%** | **Indonesia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Adaro Indonesia PT 4.25%, 10/31/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Negara Indonesia Persero Tbk. PT (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.47%), 4.30%, <br> 3/24/2027 (a) (d) (e) (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 858 |
| &nbsp;&nbsp;&nbsp; Bank Tabungan Negara Persero Tbk. PT 4.20%, 1/23/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2046 |
| &nbsp;&nbsp;&nbsp; Cikarang Listrindo Tbk. PT 4.95%, 9/14/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1512 |
| &nbsp;&nbsp;&nbsp; Indika Energy Capital III Pte. Ltd. 5.88%, 11/9/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp; Indika Energy Capital IV Pte. Ltd. 8.25%, 10/22/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2686 |
| &nbsp;&nbsp;&nbsp; Medco Bell Pte. Ltd. 6.38%, 1/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 760 |
| &nbsp;&nbsp;&nbsp; Medco Platinum Road Pte. Ltd. 6.75%, 1/30/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2169 |
| &nbsp;&nbsp;&nbsp; Minejesa Capital BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 8/10/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/10/2037 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 866 |
| &nbsp;&nbsp;&nbsp; Perusahaan Perseroan Persero PT Perusahaan Listrik Negara 4.00%, 6/30/2050 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15225 |
| **Ireland — 0.2%** | **Ireland — 0.2%** | **Ireland — 0.2%** |
| &nbsp;&nbsp;&nbsp; AerCap Holdings NV (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.54%), 5.87%, 10/10/2079 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5291 |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 10/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 2/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3NC1, 1.75%, 10/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1058 |
| &nbsp;&nbsp;&nbsp; AIB Group plc (SOFR + 3.46%), 7.58%, 10/14/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2908 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd. 3.95%, 7/1/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2195 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.65%), 6.25%, 9/16/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.03%, 9/30/2027 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19017 |
| **Israel — 0.0% ^** | **Israel — 0.0% ^** | **Israel — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Energean Israel Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/30/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Israel — continued** | **Israel — continued** | **Israel — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/30/2028 (a) | 220 | 202 |
| &nbsp;&nbsp;&nbsp; Leviathan Bond Ltd. 6.50%, 6/30/2027 (a) | 720 | 708 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1107 |
| **Italy — 0.1%** | **Italy — 0.1%** | **Italy — 0.1%** |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA 7.00%, 11/21/2025 (c) | 1463 | 1511 |
| &nbsp;&nbsp;&nbsp; Telecom Italia Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/15/2033 | 1600 | 1360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/30/2034 | 4901 | 3932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.72%, 6/4/2038 | 1500 | 1294 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR ICE Swap Rate 5 Year + 7.33%), 7.50%, 6/3/2026 (a) (d) (e) (f) | EUR 1,200 | 1293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR ICE Swap Rate 5 Year + 4.08%), 3.88%, 6/3/2027 (a) (d) (e) (f) | EUR 202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9739 |
| **Japan — 0.2%** | **Japan — 0.2%** | **Japan — 0.2%** |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 0.86%), 5.68%, 7/26/2023 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.55%), 0.95%, 7/19/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.13%), 3.84%, 4/17/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.75%), 1.54%, 7/20/2027 (b) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1058 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), 1.24%, 7/10/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 0.83%), 2.23%, 5/25/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.23%, 5/22/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1064 |
| &nbsp;&nbsp;&nbsp; Nippon Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD Swap Semi 5 Year + 3.65%), 5.10%, 10/16/2044 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.65%), 2.75%, 1/21/2051 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3065 |
| &nbsp;&nbsp;&nbsp; Sumitomo Life Insurance Co. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.75%), 3.38%, 4/15/2081 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2305 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. 2.05%, 3/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
| &nbsp;&nbsp;&nbsp; Toyota Industries Corp. 3.24%, 3/16/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1359 |
| &nbsp;&nbsp;&nbsp; Universal Entertainment Corp. 8.50%, 12/11/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 773 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19505 |
| **Kazakhstan — 0.0% ^** | **Kazakhstan — 0.0% ^** | **Kazakhstan — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; KazMunayGas National Co. JSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/19/2047 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/24/2048 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 889 |
| &nbsp;&nbsp;&nbsp; Tengizchevroil Finance Co. International Ltd. 4.00%, 8/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 708 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2699 |
| **Luxembourg — 0.2%** | **Luxembourg — 0.2%** | **Luxembourg — 0.2%** |
| &nbsp;&nbsp;&nbsp; Altice Financing SA 5.75%, 8/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3491 |
| &nbsp;&nbsp;&nbsp; Altice France Holding SA 10.50%, 5/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4310 |
| &nbsp;&nbsp;&nbsp; FAGE International SA 5.63%, 8/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304 |
| &nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings SA 6.50%, 3/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 15696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14252 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22357 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Macau — 0.1%** | **Macau — 0.1%** | **Macau — 0.1%** |
| &nbsp;&nbsp;&nbsp; Champion Path Holdings Ltd. 4.85%, 1/27/2028 (a) | 700 | 607 |
| &nbsp;&nbsp;&nbsp; Sands China Ltd. 5.90%, 8/8/2028 (i) | 250 | 244 |
| &nbsp;&nbsp;&nbsp; Studio City Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 7/15/2025 (a) | 2400 | 2226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/15/2029 (a) | 550 | 442 |
| &nbsp;&nbsp;&nbsp; Wynn Macau Ltd. 5.50%, 1/15/2026 (a) | 1900 | 1776 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5295 |
| **Malaysia — 0.0% ^** | **Malaysia — 0.0% ^** | **Malaysia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Gohl Capital Ltd. 4.25%, 1/24/2027 (a) | 300 | 276 |
| **Mexico — 0.2%** | **Mexico — 0.2%** | **Mexico — 0.2%** |
| &nbsp;&nbsp;&nbsp; Alfa SAB de CV 6.88%, 3/25/2044 (c) | 712 | 725 |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad 4.68%, 2/9/2051 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/18/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/15/2025 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/16/2025 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 8/4/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.49%, 1/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 2/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 1/23/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 1/28/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 1/28/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 2/16/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 2/7/2033 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/23/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/21/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 2/12/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.69%, 1/23/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 1/28/2060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16267 |
| **Morocco — 0.0% ^** | **Morocco — 0.0% ^** | **Morocco — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; OCP SA 6.88%, 4/25/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 |
| **Netherlands — 0.4%** | **Netherlands — 0.4%** | **Netherlands — 0.4%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV (EUR Swap Annual 5 Year + 4.67%), 4.37%, 9/22/2025 (a) (d) (e) (f) | EUR 6,700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6862 |
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 8/4/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 7/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 4.68%), 4.37%, 6/29/2027 (a) (d) (e) (f) | EUR 7,200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.73%), 1.98%, 12/15/2027 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2133 |
| &nbsp;&nbsp;&nbsp; ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD Swap Semi 5 Year + 4.45%), 6.50%, 4/16/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.64%), 3.87%, 3/28/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.34%), 5.75%, 11/16/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2233 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Netherlands — continued** | **Netherlands — continued** | **Netherlands — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 3/29/2027 | 3300 | 3183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.86%), 3.88%, 5/16/2027 (d) (e) (f) | 5500 | 4463 |
| &nbsp;&nbsp;&nbsp; Shell International Finance BV 2.75%, 4/6/2030 | 85 | 78 |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/15/2026 (c) (i) | 2341 | 2247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 8/15/2027 (b) (c) (i) | 2181 | 2098 |
| &nbsp;&nbsp;&nbsp; UPC Broadband Finco BV 4.88%, 7/15/2031 (c) | 470 | 413 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37491 |
| **Norway — 0.1%** | **Norway — 0.1%** | **Norway — 0.1%** |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 0.81%), 2.97%, 3/28/2025 (c) (f) | 2955 | 2865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.13%, 9/16/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 1.95%), 5.90%, 10/9/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1549 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7115 |
| **Panama — 0.0% ^** | **Panama — 0.0% ^** | **Panama — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; AES Panama Generation Holdings SRL 4.38%, 5/31/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 855 |
| **Paraguay — 0.0% ^** | **Paraguay — 0.0% ^** | **Paraguay — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Bioceanico Sovereign Certificate Ltd. Zero Coupon, 6/5/2034 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
| **Peru — 0.0% ^** | **Peru — 0.0% ^** | **Peru — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Petroleos del Peru SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/19/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 6/19/2047 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1469 |
| **Philippines — 0.1%** | **Philippines — 0.1%** | **Philippines — 0.1%** |
| &nbsp;&nbsp;&nbsp; Globe Telecom, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.53%), 4.20%, 8/2/2026 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rizal Commercial Banking Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 6.24%), 6.50%, 8/27/2025 (a) <br> (d) (e) (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2413 |
| &nbsp;&nbsp;&nbsp; SMC Global Power Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 6.61%), 6.50%, 4/25/2024 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 9.20%), 7.00%, 10/21/2025 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1540 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6803 |
| **Singapore — 0.0% ^** | **Singapore — 0.0% ^** | **Singapore — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; GLP Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 6/4/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.74%), 4.50%, 5/17/2026 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 947 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1826 |
| **South Africa — 0.0% ^** | **South Africa — 0.0% ^** | **South Africa — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Eskom Holdings SOC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 8/6/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 2/11/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1097 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2106 |
| **South Korea — 0.0% ^** | **South Korea — 0.0% ^** | **South Korea — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Hana Bank (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.41%), 3.50%, 10/19/2026 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **South Korea — continued** | **South Korea — continued** | **South Korea — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanwha Life Insurance Co. Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.85%), 3.38%, 2/4/2032 (a) <br> (f)<br>| 600 | 528 |
| &nbsp;&nbsp;&nbsp; Hyundai Motor Manufacturing Indonesia PT 1.75%, 5/6/2026 (a) | 300 | 261 |
| &nbsp;&nbsp;&nbsp; Kia Corp. 3.00%, 4/25/2023 (c) | 200 | 199 |
| &nbsp;&nbsp;&nbsp; Shinhan Bank Co. Ltd. 4.50%, 3/26/2028 (a) | 350 | 330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shinhan Financial Group Co. Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.06%), 2.87%, 5/12/2026 (a) <br> (d) (e) (f)<br>| 600 | 537 |
| &nbsp;&nbsp;&nbsp; SK Hynix, Inc. 1.50%, 1/19/2026 (a) | 250 | 219 |
| &nbsp;&nbsp;&nbsp; Woori Bank (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.66%), 4.25%, 10/4/2024 (a) (d) (e) (f) | 250 | 239 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2748 |
| **Spain — 0.3%** | **Spain — 0.3%** | **Spain — 0.3%** |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 6.04%), 6.00%, 3/29/2024 (a) (d) (e) (f) | EUR 2,000 | 2149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 6.46%), 6.00%, 1/15/2026 (a) (d) (e) (f) | EUR 4,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 5.86%, 9/14/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6636 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.45%), 0.70%, 6/30/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/24/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.75%), 4.75%, 11/12/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 8/18/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2209 |
| &nbsp;&nbsp;&nbsp; Telefonica Emisiones SA 4.67%, 3/6/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30057 |
| **Sweden — 0.1%** | **Sweden — 0.1%** | **Sweden — 0.1%** |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB 1.20%, 9/9/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2101 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.55%, 6/11/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.05%), 4.75%, 3/1/2031 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2740 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5355 |
| **Switzerland — 0.4%** | **Switzerland — 0.4%** | **Switzerland — 0.4%** |
| &nbsp;&nbsp;&nbsp; Cloverie plc for Zurich Insurance Co. Ltd. (ICE LIBOR USD 3 Month + 4.92%), 5.63%, 6/24/2046 (a) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2688 |
| &nbsp;&nbsp;&nbsp; Credit Suisse AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 8/9/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 9/9/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3206 |
| &nbsp;&nbsp;&nbsp; Credit Suisse Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 6/9/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD Swap Semi 5 Year + 3.46%), 6.25%, 12/18/2024 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 2.59%, 9/11/2025 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.98%), 1.31%, 2/2/2027 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 5.02%), 9.02%, 11/15/2033 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1101 |
| &nbsp;&nbsp;&nbsp; UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD Swap Semi 5 Year + 4.34%), 7.00%, 1/31/2024 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD Swap Semi 5 Year + 4.87%), 7.00%, 2/19/2025 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD Swap Semi 5 Year + 4.59%), 6.87%, 8/7/2025 (a) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 4.49%, 5/12/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 724 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Switzerland — continued** | **Switzerland — continued** | **Switzerland — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.86%), 5.12%, 7/29/2026 (a) (d) (e) (f) | 1577 | 1494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.40%), 4.88%, 2/12/2027 (c) (d) (e) (f) | 5225 | 4697 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44005 |
| **Thailand — 0.0% ^** | **Thailand — 0.0% ^** | **Thailand — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Bangkok Bank PCL (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.73%), 5.00%, 9/23/2025 (a) (d) (e) (f) | 1600 | 1538 |
| &nbsp;&nbsp;&nbsp; Krung Thai Bank PCL (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.53%), 4.40%, 3/25/2026 (a) (d) (e) (f) | 2700 | 2479 |
| &nbsp;&nbsp;&nbsp; Thaioil Treasury Center Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/23/2043 (a) | 500 | 403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/17/2049 (a) | 300 | 192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TMBThanachart Bank PCL (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.26%), 4.90%, 12/2/2024 (a) (d) <br> (e) (f)<br>| 200 | 189 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4801 |
| **United Arab Emirates — 0.0% ^** | **United Arab Emirates — 0.0% ^** | **United Arab Emirates — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Telford Offshore Ltd. 12.00% (PIK), 12/31/2164 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| **United Kingdom — 1.4%** | **United Kingdom — 1.4%** | **United Kingdom — 1.4%** |
| &nbsp;&nbsp;&nbsp; 180 Medical, Inc. 3.88%, 10/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2278 |
| &nbsp;&nbsp;&nbsp; Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.80%), 1.01%, 12/10/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.61%), 3.93%, 5/7/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (U.K. Government Bonds 5 Year Note Generic Bid Yield + 6.02%), 6.37%, 12/15/2025 (a) (d) (e) (f) | GBP 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.05%), 7.32%, 11/2/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.43%), 8.00%, 3/15/2029 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2808 |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. 4.39%, 8/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (U.K. Government Bonds 5 Year Note Generic Bid Yield + 4.17%), 4.25%, 3/22/2027 (a) (d) (e) (f) | GBP 2,300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 4.12%), 3.63%, 3/22/2029 (a) (d) (e) (f) | EUR 7,400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.40%), 4.88%, 3/22/2030 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8323 |
| &nbsp;&nbsp;&nbsp; British Telecommunications plc 4.50%, 12/4/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp; Centrica plc 4.00%, 10/16/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.53%), 0.73%, 8/17/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.58%), 1.16%, 11/22/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.21%), 3.80%, 3/11/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.71%), 0.98%, 5/24/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.54%), 1.64%, 4/18/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD ICE Swap Rate 5 Year + 3.61%), 6.50%, 3/23/2028 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 3.84%), 4.75%, 7/4/2029 (a) (d) (e) (f) | EUR 330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.65%), 4.60%, 12/17/2030 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3238 |
| &nbsp;&nbsp;&nbsp; INEOS Quattro Finance 2 plc 3.38%, 1/15/2026 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1294 |
| &nbsp;&nbsp;&nbsp; Ithaca Energy North Sea plc 9.00%, 7/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 973 |
| &nbsp;&nbsp;&nbsp; Jaguar Land Rover Automotive plc 5.88%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1034 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.55%), 0.70%, 5/11/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.50%), 3.87%, 7/9/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 3/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 4.72%, 8/11/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2879 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United Kingdom — continued** | **United Kingdom — continued** | **United Kingdom — continued** |
| &nbsp;&nbsp;&nbsp; Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (U.K. Government Bonds 5 Year Note Generic Bid Yield + 5.39%), 5.87%, 12/20/2024 (a) (d) (e) (f) | GBP 200 | 238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 8/28/2025 (c) | 2365 | 2126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (U.K. Government Bonds 5 Year Note Generic Bid Yield + 5.63%), 5.75%, 6/20/2027 (a) (d) (e) (f) | GBP 4,470 | 5078 |
| &nbsp;&nbsp;&nbsp; NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.55%), 4.52%, 6/25/2024 (f) | 1474 | 1467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.63%), 6.00%, 12/29/2025 (d) (e) (f) | 2641 | 2522 |
| &nbsp;&nbsp;&nbsp; NatWest Markets plc 1.60%, 9/29/2026 (c) | 2312 | 2046 |
| &nbsp;&nbsp;&nbsp; Rolls-Royce plc 5.75%, 10/15/2027 (c) | 1232 | 1198 |
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.57%), 4.80%, 11/15/2024 (f) | 3575 | 3532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.79%), 1.09%, 3/15/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 1.53%, 8/21/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.75%), 6.83%, 11/21/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.99%), 1.67%, 6/14/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.60%), 6.53%, 1/10/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1325 |
| &nbsp;&nbsp;&nbsp; Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.08%), 3.89%, 3/15/2024 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.78%), 0.99%, 1/12/2025 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.10%), 7.78%, 11/16/2025 (b) (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.21%), 2.82%, 1/30/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 3.97%, 3/30/2026 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.05%), 6.17%, 1/9/2027 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.46%, 1/14/2027 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.98%), 7.75%, 8/15/2027 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3613 |
| &nbsp;&nbsp;&nbsp; Virgin Media Finance plc 5.00%, 7/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533 |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance plc 5.50%, 5/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3827 |
| &nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I plc 4.75%, 7/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp; Vodafone Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/16/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/30/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD Swap Semi 5 Year + 4.87%), 7.00%, 4/4/2079 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.77%), 4.12%, 6/4/2081 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5748 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 147025 |
| **United States — 24.3%** | **United States — 24.3%** | **United States — 24.3%** |
| &nbsp;&nbsp;&nbsp; 7-Eleven, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 2/10/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 2/10/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/21/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/21/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Management Co. 8.75%, 7/15/2025 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1024 |
| &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2328 |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. 4.25%, 3/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4481 |
| &nbsp;&nbsp;&nbsp; ACI Worldwide, Inc. 5.75%, 8/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3980 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Activision Blizzard, Inc. 1.35%, 9/15/2030 | 292 | 237 |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd. 4.88%, 8/15/2026 (c) | 1876 | 1781 |
| &nbsp;&nbsp;&nbsp; ADT Security Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/1/2029 (c) | 3950 | 3516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/15/2032 (c) | 6428 | 5736 |
| &nbsp;&nbsp;&nbsp; Adtalem Global Education, Inc. 5.50%, 3/1/2028 (c) | 1137 | 1058 |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 9/30/2027 (c) | 515 | 490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 6/15/2030 (c) | 466 | 463 |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. 3.92%, 6/1/2032 | 60 | 57 |
| &nbsp;&nbsp;&nbsp; AECOM 5.13%, 3/15/2027 | 469 | 461 |
| &nbsp;&nbsp;&nbsp; Aetna, Inc. 3.88%, 8/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp; Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70%, 2/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 2/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1594 |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 3/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 2/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 749 |
| &nbsp;&nbsp;&nbsp; Alcoa Nederland Holding BV 5.50%, 12/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6999 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 12/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 3/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; Alliance Resource Operating Partners LP 7.50%, 5/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 7/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3307 |
| &nbsp;&nbsp;&nbsp; Allison Transmission, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/1/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/30/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2668 |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 10/2/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/20/2025 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (US Treasury Yield Curve Rate T Note Constant Maturity 7 Year + 3.48%), 4.70%, 5/15/2028 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4854 |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. 4.80%, 2/14/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp; AMC Entertainment Holdings, Inc. 10.00% (Cash), 6/15/2026 (b) (c) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1466 |
| &nbsp;&nbsp;&nbsp; AMC Networks, Inc. 4.25%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp; Ameren Corp. 3.50%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/20/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6193 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/20/2029 (c) | 5785 | 5595 |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2026 | 3979 | 3730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/1/2027 (b) | 6440 | 5940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 7/1/2028 (b) | 1909 | 1737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2029 (b) | 2629 | 2165 |
| &nbsp;&nbsp;&nbsp; American Builders & Contractors Supply Co., Inc. 4.00%, 1/15/2028 (c) | 3195 | 2911 |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/1/2027 | 30 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 11/1/2032 | 40 | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 3.88%, 2/15/2062 (f) | 5173 | 4437 |
| &nbsp;&nbsp;&nbsp; American International Group, Inc. Series A-9, (ICE LIBOR USD 3 Month + 2.87%), 5.75%, 4/1/2048 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1877 |
| &nbsp;&nbsp;&nbsp; American Tower Corp., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 1/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp; American Transmission Systems, Inc. 2.65%, 1/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 5/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 8/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 965 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. 2.00%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. 6.63%, 9/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3957 |
| &nbsp;&nbsp;&nbsp; AMN Healthcare, Inc. 4.63%, 10/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 796 |
| &nbsp;&nbsp;&nbsp; ANGI Group LLC 3.88%, 8/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1098 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 5/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3814 |
| &nbsp;&nbsp;&nbsp; Antero Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 7/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 2/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1237 |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1816 |
| &nbsp;&nbsp;&nbsp; APX Group, Inc. 5.75%, 7/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1096 |
| &nbsp;&nbsp;&nbsp; Aramark Services, Inc. 5.00%, 2/1/2028 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4185 |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/1/2028 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 534 |
| &nbsp;&nbsp;&nbsp; Archrock Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2109 |
| &nbsp;&nbsp;&nbsp; Arconic Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 5/15/2025 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2246 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 2/15/2028 (c) | 6487 | 6233 |
| &nbsp;&nbsp;&nbsp; Arcosa, Inc. 4.38%, 4/15/2029 (c) | 408 | 365 |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC 6.00%, 6/15/2027 (c) | 1737 | 1732 |
| &nbsp;&nbsp;&nbsp; Ardagh Packaging Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/30/2025 (c) | 479 | 468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/15/2026 (c) | 1385 | 1264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 8/15/2027 (c) | 4869 | 3987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 8/15/2027 (b) (c) | 4916 | 4026 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/1/2028 | 412 | 372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2029 (c) | 5154 | 4548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 866 |
| &nbsp;&nbsp;&nbsp; ASGN, Inc. 4.63%, 5/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, (EURIBOR ICE Swap Rate 5 Year + 3.14%), 2.87%, 3/2/2025 (d) (e) (f) | EUR 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333 |
| &nbsp;&nbsp;&nbsp; Athene Global Funding 0.95%, 1/8/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5026 |
| &nbsp;&nbsp;&nbsp; ATI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/1/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1127 |
| &nbsp;&nbsp;&nbsp; Audacy Capital Corp. 6.50%, 5/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 732 |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc. 4.63%, 7/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5953 |
| &nbsp;&nbsp;&nbsp; Aviation Capital Group LLC 1.95%, 9/20/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp; Avient Corp. 7.13%, 8/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1189 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/1/2028 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5690 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3784 |
| &nbsp;&nbsp;&nbsp; Baker Hughes Holdings LLC 3.14%, 11/7/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series X, (ICE LIBOR USD 3 Month + 3.71%), 6.25%, 9/5/2024 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Z, (ICE LIBOR USD 3 Month + 4.17%), 6.50%, 10/23/2024 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.74%), 0.81%, 10/24/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.67%), 1.84%, 2/4/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 0.97%), 3.46%, 3/15/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series AA, (ICE LIBOR USD 3 Month + 3.90%), 6.10%, 3/17/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.91%), 0.98%, 9/25/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.65%), 1.53%, 12/6/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series DD, (ICE LIBOR USD 3 Month + 4.55%), 6.30%, 3/10/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.75%), 4.83%, 7/22/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 5.08%, 1/20/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series RR, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.76%), 4.38%, 1/27/2027 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series N, (SOFR + 0.91%), 1.66%, 3/11/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1061 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series TT, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.23%), 6.13%, 4/27/2027 (d) (e) (f) | 4375 | 4379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.96%), 1.73%, 7/22/2027 (f) | 778 | 697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series FF, (ICE LIBOR USD 3 Month + 2.93%), 5.87%, 3/15/2028 (d) (e) (f) | 6976 | 6680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 2.57%, 10/20/2032 (f) | 320 | 265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.20%), 2.48%, 9/21/2036 (f) | 4390 | 3425 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series F, (ICE LIBOR USD 3 Month + 3.13%), 4.62%, 9/20/2026 (d) (e) (f) | 7637 | 7079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 2.07%), 5.83%, 10/25/2033 (f) | 101 | 109 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 7/1/2025 (c) | 148 | 158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/15/2029 (b) | 765 | 776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2125 |
| &nbsp;&nbsp;&nbsp; Bausch Health Americas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 4/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 1/31/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3053 |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 12096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 12/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 22777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/30/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/30/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 2/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1476 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson and Co. 2.82%, 5/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp; BellRing Brands, Inc. 7.00%, 3/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp; Berry Global, Inc. 4.88%, 7/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3409 |
| &nbsp;&nbsp;&nbsp; Berry Petroleum Co. LLC 7.00%, 2/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp; Big River Steel LLC 6.63%, 1/31/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1640 |
| &nbsp;&nbsp;&nbsp; Biogen, Inc. 2.25%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp; Black Knight InfoServ LLC 3.63%, 9/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1550 |
| &nbsp;&nbsp;&nbsp; Block, Inc. 3.50%, 6/1/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1232 |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 12/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1487 |
| &nbsp;&nbsp;&nbsp; BlueLinx Holdings, Inc. 6.00%, 11/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. 4.88%, 7/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 766 |
| &nbsp;&nbsp;&nbsp; Boston Properties LP, REIT 2.45%, 10/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. 4.75%, 6/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 885 |
| &nbsp;&nbsp;&nbsp; Boyne USA, Inc. 4.75%, 5/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3262 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. 3.63%, 4/6/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp; Brightsphere Investment Group, Inc. 4.80%, 7/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp; Brink's Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3433 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. 4.30%, 11/15/2032 | 145 | 134 |
| &nbsp;&nbsp;&nbsp; Brundage-Bone Concrete Pumping Holdings, Inc. 6.00%, 2/1/2026 (c) | 314 | 299 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 3/1/2025 (c) | 3620 | 3439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/1/2026 | 200 | 183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/1/2028 (c) | 4360 | 3980 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/1/2032 (c) | 2893 | 2489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 6/15/2032 (c) | 3188 | 3121 |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/30/2028 (c) | 2624 | 2368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4139 |
| &nbsp;&nbsp;&nbsp; Cable One, Inc. 4.00%, 11/15/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1059 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 7/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1992 |
| &nbsp;&nbsp;&nbsp; California Resources Corp. 7.13%, 2/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6462 |
| &nbsp;&nbsp;&nbsp; Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 2/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1107 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 1/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.69%), 1.34%, 12/6/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series M, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 3.95%, 9/1/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6682 |
| &nbsp;&nbsp;&nbsp; Cargill, Inc. 1.38%, 7/23/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 782 |
| &nbsp;&nbsp;&nbsp; Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 2/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 5/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848 |
| &nbsp;&nbsp;&nbsp; Carnival Holdings Bermuda Ltd. 10.38%, 5/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2537 |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 893 |
| &nbsp;&nbsp;&nbsp; Cars.com, Inc. 6.38%, 11/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 377 |
| &nbsp;&nbsp;&nbsp; Catalent Pharma Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 778 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 5/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 25876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 26586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/1/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 15846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/1/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 12371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/15/2034 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3609 |
| &nbsp;&nbsp;&nbsp; CD&R Smokey Buyer, Inc. 6.75%, 7/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4516 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; CDW LLC 4.25%, 4/1/2028 | 7836 | 7276 |
| &nbsp;&nbsp;&nbsp; Cedar Fair LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 5/1/2025 (c) | 1335 | 1325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2029 | 1700 | 1558 |
| &nbsp;&nbsp;&nbsp; Cengage Learning, Inc. 9.50%, 6/15/2024 (b) (c) | 1045 | 1016 |
| &nbsp;&nbsp;&nbsp; Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 7/15/2028 | 2560 | 2218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/2029 | 3000 | 2850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/15/2030 | 5040 | 4431 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy Resources Corp. (ICE LIBOR USD 3 Month + 0.50%), 5.28%, 3/2/2023 (f) | 50 | 50 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. (ICE LIBOR USD 3 Month + 3.27%), 6.13%, 9/1/2023 (d) (e) (f) | 5558 | 5467 |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2801 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series G, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.97%), 5.38%, 6/1/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, (US Treasury Yield Curve Rate T Note Constant Maturity 10 Year + 3.08%), 4.00%, 12/1/2030 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 11623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9999 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 1/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 1/1/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 559 |
| &nbsp;&nbsp;&nbsp; Chemours Co. (The) 5.75%, 11/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5333 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 1/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. 4.63%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3504 |
| &nbsp;&nbsp;&nbsp; Chesapeake Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7710 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. 2.24%, 5/11/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. 6.38%, 6/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2064 |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc. 4.75%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426 |
| &nbsp;&nbsp;&nbsp; Ciena Corp. 4.00%, 1/31/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3510 |
| &nbsp;&nbsp;&nbsp; Cigna Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 0.89%), 5.68%, 7/15/2023 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 5/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2028 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1635 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 4.07%), 8.87%, 4/30/2023 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series M, (ICE LIBOR USD 3 Month + 3.42%), 6.30%, 5/15/2024 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series U, (SOFR + 3.81%), 5.00%, 9/12/2024 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.69%), 0.78%, 10/30/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series V, (SOFR + 3.23%), 4.70%, 1/30/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 0.90%), 3.35%, 4/24/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.67%), 0.98%, 5/1/2025 (b) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4186 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series P, (ICE LIBOR USD 3 Month + 3.91%), 5.95%, 5/15/2025 (b) (d) (e) (f) | 7163 | 6981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series W, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.60%), 4.00%, 12/10/2025 (d) (e) (f) | 5409 | 5004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.69%), 2.01%, 1/25/2026 (f) | 2245 | 2112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.42%), 3.88%, 2/18/2026 (d) (e) (f) | 8855 | 8084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series T, (ICE LIBOR USD 3 Month + 4.52%), 6.25%, 8/15/2026 (d) (e) (f) | 5444 | 5480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.55%), 5.61%, 9/29/2026 (f) | 4100 | 4166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.77%), 1.46%, 6/9/2027 (f) | 815 | 726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.52%, 11/3/2032 (f) | 55 | 45 |
| &nbsp;&nbsp;&nbsp; Citizens Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 0.95%), 5.68%, 3/29/2023 (f) | 250 | 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 5.28%, 1/26/2026 (f) | 446 | 446 |
| &nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, (ICE LIBOR USD 3 Month + 3.00%), 6.00%, 7/6/2023 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (ICE LIBOR USD 3 Month + 3.16%), 6.37%, 4/6/2024 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series G, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.22%), 4.00%, 10/6/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5762 |
| &nbsp;&nbsp;&nbsp; Civitas Resources, Inc. 5.00%, 10/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 5/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2493 |
| &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 7/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2392 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 8/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 4/15/2028 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/1/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5984 |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/1/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/1/2031 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1655 |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.12%), 4.75%, 6/1/2050 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4620 |
| &nbsp;&nbsp;&nbsp; CNX Midstream Partners LP 4.75%, 4/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 701 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 1/15/2031 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2038 |
| &nbsp;&nbsp;&nbsp; Coeur Mining, Inc. 5.13%, 2/15/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 651 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Group, Inc. 3.50%, 5/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1055 |
| &nbsp;&nbsp;&nbsp; Coherent Corp. 5.00%, 12/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5557 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/1/2028 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/1/2031 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 813 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; CommScope Technologies LLC 6.00%, 6/15/2025 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3817 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; CommScope, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 3/1/2026 (c) | 5590 | 5352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 3/1/2027 (c) | 12705 | 10806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 9/1/2029 (c) | 4350 | 3621 |
| &nbsp;&nbsp;&nbsp; Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 3/15/2026 (c) | 7792 | 7522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 3/15/2027 (c) | 2288 | 2025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2029 (c) | 2474 | 2172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/15/2030 (c) | 4153 | 3351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2031 (c) | 2495 | 1909 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1983 |
| &nbsp;&nbsp;&nbsp; Conduent Business Services LLC 6.00%, 11/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4115 |
| &nbsp;&nbsp;&nbsp; Consensus Cloud Solutions, Inc. 6.50%, 10/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 790 |
| &nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. Series A, 0.65%, 12/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp; Constellation Brands, Inc. 2.25%, 8/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp; Cooper-Standard Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50% (PIK), 3/31/2027 (c) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 12534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.63% (PIK), 5/15/2027 (c) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4577 |
| &nbsp;&nbsp;&nbsp; Corebridge Financial, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.85%), 6.87%, 12/15/2052 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4622 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc. 8.25%, 4/15/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4589 |
| &nbsp;&nbsp;&nbsp; CoreLogic, Inc. 4.50%, 5/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1109 |
| &nbsp;&nbsp;&nbsp; Coty, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/15/2026 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2124 |
| &nbsp;&nbsp;&nbsp; Cox Communications, Inc. 4.80%, 2/1/2035 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC 9.25%, 2/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2421 |
| &nbsp;&nbsp;&nbsp; Crestwood Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 4/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 2/1/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1052 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 2/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1843 |
| &nbsp;&nbsp;&nbsp; CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; CTR Partnership LP, REIT 3.88%, 6/30/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; CVR Partners LP 6.13%, 6/15/2028 (c) | 3296 | 2983 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 8/15/2029 | 85 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 9/15/2031 | 174 | 143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 3/25/2038 | 255 | 244 |
| &nbsp;&nbsp;&nbsp; Dana, Inc. 5.63%, 6/15/2028 | 3421 | 3222 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2030 (c) | 7185 | 6053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (c) | 6036 | 4693 |
| &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP 7.13%, 6/1/2028 (c) | 647 | 593 |
| &nbsp;&nbsp;&nbsp; Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp; Deluxe Corp. 8.00%, 6/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1100 |
| &nbsp;&nbsp;&nbsp; Diamond Sports Group LLC 5.38%, 8/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC 5.88%, 8/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3875 |
| &nbsp;&nbsp;&nbsp; Discover Financial Services 3.75%, 3/4/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1068 |
| &nbsp;&nbsp;&nbsp; Discovery Communications LLC 3.63%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp; DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 12636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 25347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 7/1/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 11106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 11040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 621 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp. 11.75%, 11/15/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 10185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10584 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.99%), 4.65%, 12/15/2024 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.20%), 4.35%, 1/15/2027 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, 2.25%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; Dornoch Debt Merger Sub, Inc. 6.63%, 10/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2054 |
| &nbsp;&nbsp;&nbsp; DPL, Inc. 4.13%, 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1082 |
| &nbsp;&nbsp;&nbsp; DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 6/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1353 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.32%), 3.25%, 1/15/2082 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4770 |
| &nbsp;&nbsp;&nbsp; Dycom Industries, Inc. 4.50%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5235 |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 6/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edison International Series B, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.90%), 5.00%, 12/15/2026 (d) <br> (e) (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3730 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc. 6.40%, 8/28/2028 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 561 |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc. 3.88%, 9/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 616 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 10/15/2052 | 20 | 23 |
| &nbsp;&nbsp;&nbsp; Embarq Corp. 8.00%, 6/1/2036 | 5823 | 2810 |
| &nbsp;&nbsp;&nbsp; Embecta Corp. 5.00%, 2/15/2030 (b) (c) | 50 | 41 |
| &nbsp;&nbsp;&nbsp; Emergent BioSolutions, Inc. 3.88%, 8/15/2028 (c) | 5114 | 2224 |
| &nbsp;&nbsp;&nbsp; Enact Holdings, Inc. 6.50%, 8/15/2025 (c) | 1119 | 1102 |
| &nbsp;&nbsp;&nbsp; Encino Acquisition Partners Holdings LLC 8.50%, 5/1/2028 (c) | 5594 | 5215 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/15/2025 | 4690 | 4655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/1/2028 | 2760 | 2576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2030 | 2455 | 2250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/1/2031 | 3400 | 2993 |
| &nbsp;&nbsp;&nbsp; Endo Dac |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/2024 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 7/31/2027 (b) (c) (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/30/2028 (c) (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp; Endo Luxembourg Finance Co. I Sarl 6.13%, 4/1/2029 (b) (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1605 |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/31/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 3/31/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6405 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP 4.20%, 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; EnLink Midstream LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 9/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1236 |
| &nbsp;&nbsp;&nbsp; EnLink Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 7/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 4/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 437 |
| &nbsp;&nbsp;&nbsp; Enova International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 9/1/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 9/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476 |
| &nbsp;&nbsp;&nbsp; EnPro Industries, Inc. 5.75%, 10/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 |
| &nbsp;&nbsp;&nbsp; Entegris Escrow Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 6/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3793 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 5/1/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2498 |
| &nbsp;&nbsp;&nbsp; Entergy Texas, Inc. 1.75%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC Series E, (ICE LIBOR USD 3 Month + 3.03%), 5.25%, 8/16/2077 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3823 |
| &nbsp;&nbsp;&nbsp; Envision Healthcare Corp. 8.75%, 10/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1999 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. 5.10%, 1/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp; EQM Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 7/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1987 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2031 (c) | 5136 | 4344 |
| &nbsp;&nbsp;&nbsp; EQT Corp. 7.00%, 2/1/2030 (i) | 1165 | 1239 |
| &nbsp;&nbsp;&nbsp; Equitable Financial Life Global Funding 5.50%, 12/2/2025 (c) | 1230 | 1241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equitable Holdings, Inc. Series B, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.74%), 4.95%, <br> 9/15/2025 (d) (e) (f)<br>| 786 | 762 |
| &nbsp;&nbsp;&nbsp; ESC Co., Intelsat Jackson Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/1/2023 ‡ (j) | 10554 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 10/15/2024 ‡ (j) | 16148 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 7/15/2025 ‡ (j) | 1585 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; ESC GCBREGS EXIDE TECH 7.13%, 8/1/2026 (j) | 5505 | 413 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. 2.90%, 9/15/2029 | 152 | 135 |
| &nbsp;&nbsp;&nbsp; Exela Intermediate LLC 11.50%, 7/15/2026 (c) | 3525 | 409 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp. 4.00%, 6/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 842 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. 2.25%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 1/25/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.69%), 1.71%, 11/1/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4262 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp. Series A, 1.60%, 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc. 3.50%, 7/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp; Foot Locker, Inc. 4.00%, 10/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 6/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/4/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/13/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 3/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 8/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 1/9/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 11/2/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 2/16/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 2/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/13/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2771 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 5/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416 |
| &nbsp;&nbsp;&nbsp; Gannett Holdings LLC 6.00%, 11/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1256 |
| &nbsp;&nbsp;&nbsp; Gap, Inc. (The) 3.63%, 10/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1869 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 7/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 6/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1920 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/1/2030 (c) | 680 | 603 |
| &nbsp;&nbsp;&nbsp; GCI LLC 4.75%, 10/15/2028 (c) | 9465 | 8334 |
| &nbsp;&nbsp;&nbsp; General Electric Co. Series D, (ICE LIBOR USD 3 Month + 3.33%), 8.10%, 3/15/2023 (d) (e) (f) | 4420 | 4405 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. 4.30%, 4/6/2029 | 70 | 65 |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/1/2025 | 180 | 177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/15/2026 | 1933 | 1847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 1/15/2027 | 1243 | 1227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/1/2028 | 3411 | 3296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 4/15/2030 | 2135 | 2170 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. (The) 10.50%, 6/30/2028 | 2281 | 2333 |
| &nbsp;&nbsp;&nbsp; G-III Apparel Group Ltd. 7.88%, 8/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. 1.65%, 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405 |
| &nbsp;&nbsp;&nbsp; Glatfelter Corp. 4.75%, 11/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1624 |
| &nbsp;&nbsp;&nbsp; Global Infrastructure Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 6/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2193 |
| &nbsp;&nbsp;&nbsp; Global Medical Response, Inc. 6.50%, 10/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1607 |
| &nbsp;&nbsp;&nbsp; Global Net Lease, Inc., REIT 3.75%, 12/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 423 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co. LLC 3.50%, 3/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1107 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Capital II (ICE LIBOR USD 3 Month + 0.77%), 5.53%, 3/2/2023 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1878 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 0.75%), 5.44%, 2/23/2023 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.22%, 12/6/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.51%), 0.66%, 9/10/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.49%), 0.92%, 10/21/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series S, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.85%), 4.40%, 2/10/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series R, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.22%), 4.95%, 2/10/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series T, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.97%), 3.80%, 5/10/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series U, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.92%), 3.65%, 8/10/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series O, (ICE LIBOR USD 3 Month + 3.83%), 5.30%, 11/10/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.82%), 1.54%, 9/10/2027 (b) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.91%), 1.95%, 10/21/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), 2.64%, 2/24/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), 3.62%, 3/15/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.65%, 10/21/2032 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/31/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 844 |
| &nbsp;&nbsp;&nbsp; GrafTech Finance, Inc. 4.63%, 12/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1080 |
| &nbsp;&nbsp;&nbsp; Graham Holdings Co. 5.75%, 6/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444 |
| &nbsp;&nbsp;&nbsp; Graham Packaging Co., Inc. 7.13%, 8/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 591 |
| &nbsp;&nbsp;&nbsp; Gray Escrow II, Inc. 5.38%, 11/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1662 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Gray Television, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 7/15/2026 (b) (c) | 1932 | 1770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 5/15/2027 (b) (c) | 5595 | 5090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2030 (c) | 2800 | 2065 |
| &nbsp;&nbsp;&nbsp; Griffon Corp. 5.75%, 3/1/2028 | 3195 | 3024 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. 4.00%, 8/15/2028 (c) | 870 | 765 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 5/17/2026 | 703 | 697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 5/17/2026 (c) | 3215 | 3186 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Operating Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/1/2023 (j) | 745 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/15/2024 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 5/15/2025 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 1/15/2026 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp; GYP Holdings III Corp. 4.63%, 5/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 |
| &nbsp;&nbsp;&nbsp; Hanesbrands, Inc. 4.88%, 5/15/2026 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 857 |
| &nbsp;&nbsp;&nbsp; Harsco Corp. 5.75%, 7/31/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 641 |
| &nbsp;&nbsp;&nbsp; HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp; Herbalife Nutrition Ltd. 7.88%, 9/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. 5.50%, 7/15/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5384 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/2022 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2024 (j) | &nbsp;&nbsp;&nbsp;&nbsp; 11828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2028 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3096 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2188 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1158 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 5/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 5/1/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 789 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Finance LLC 4.88%, 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3741 |
| &nbsp;&nbsp;&nbsp; HLF Financing SARL LLC 4.88%, 6/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731 |
| &nbsp;&nbsp;&nbsp; Holly Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 4/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1336 |
| &nbsp;&nbsp;&nbsp; Hologic, Inc. 3.25%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4529 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. 5.00%, 2/15/2033 | 65 | 68 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 2/1/2027 | 4185 | 4258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/15/2028 | 145 | 152 |
| &nbsp;&nbsp;&nbsp; Hughes Satellite Systems Corp. 6.63%, 8/1/2026 | 4159 | 4022 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. Series E, (ICE LIBOR USD 3 Month + 2.88%), 5.70%, 4/15/2023 (d) (e) (f) | 3742 | 3646 |
| &nbsp;&nbsp;&nbsp; Huntington National Bank (The) (SOFR + 1.22%), 5.70%, 11/18/2025 (f) | 1040 | 1052 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.80%, 4/3/2023 (c) | 80 | 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/6/2023 (c) | 631 | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 9/17/2026 (c) | 165 | 146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 9/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; IAA, Inc. 5.50%, 6/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 452 |
| &nbsp;&nbsp;&nbsp; Icahn Enterprises LP 4.38%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1087 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 5/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 5/1/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 8/15/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6105 |
| &nbsp;&nbsp;&nbsp; ILFC E-Capital Trust I 6.29%, 12/21/2065 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4593 |
| &nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II 6.54%, 12/21/2065 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1464 |
| &nbsp;&nbsp;&nbsp; Imola Merger Corp. 4.75%, 5/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7631 |
| &nbsp;&nbsp;&nbsp; Ingevity Corp. 3.88%, 11/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp; Ingles Markets, Inc. 4.00%, 6/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307 |
| &nbsp;&nbsp;&nbsp; Installed Building Products, Inc. 5.75%, 2/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp; Intel Corp. 2.00%, 8/12/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; International Game Technology plc 6.50%, 2/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2635 |
| &nbsp;&nbsp;&nbsp; IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2319 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 3/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1688 |
| &nbsp;&nbsp;&nbsp; ITC Holdings Corp. 2.95%, 5/14/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp; James Hardie International Finance DAC 5.00%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638 |
| &nbsp;&nbsp;&nbsp; JB Poindexter & Co., Inc. 7.13%, 4/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1611 |
| &nbsp;&nbsp;&nbsp; JELD-WEN, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2656 |
| &nbsp;&nbsp;&nbsp; John Deere Capital Corp. 4.35%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. 4.50%, 6/1/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1746 |
| &nbsp;&nbsp;&nbsp; Kennedy-Wilson, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1259 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. 3.20%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp; KeyBank NA (SOFRINDX + 0.32%), 0.43%, 6/14/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4992 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; KeyCorp (SOFRINDX + 2.06%), 4.79%, 6/1/2033 (f) | 15 | 15 |
| &nbsp;&nbsp;&nbsp; KFC Holding Co. 4.75%, 6/1/2027 (c) | 508 | 493 |
| &nbsp;&nbsp;&nbsp; Kilroy Realty LP, REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 12/15/2024 | 790 | 763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 12/15/2028 | 1275 | 1189 |
| &nbsp;&nbsp;&nbsp; Kimco Realty OP LLC, REIT 2.25%, 12/1/2031 | 46 | 37 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP 5.88%, 6/15/2030 (c) | 1761 | 1673 |
| &nbsp;&nbsp;&nbsp; KLA Corp. 4.65%, 7/15/2032 | 20 | 20 |
| &nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. 4.13%, 11/15/2029 (c) | 410 | 355 |
| &nbsp;&nbsp;&nbsp; Korn Ferry 4.63%, 12/15/2027 (c) | 450 | 423 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co. 3.75%, 4/1/2030 | 155 | 147 |
| &nbsp;&nbsp;&nbsp; Kroger Co. (The) 1.70%, 1/15/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. 1.80%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; LABL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 7/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 869 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/31/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/31/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1153 |
| &nbsp;&nbsp;&nbsp; Lear Corp. 2.60%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963 |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc. 4.00%, 7/15/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp; Liberty Interactive LLC 8.25%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1127 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc. 4.38%, 1/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1149 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/1/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 3/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1248 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp; Louisiana-Pacific Corp. 3.63%, 3/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp; LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 829 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/2026 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 15795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series G, 6.88%, 1/15/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1103 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/15/2029 (b) (c) | 4316 | 2990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series P, 7.60%, 9/15/2039 (b) | 709 | 478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series U, 7.65%, 3/15/2042 | 772 | 513 |
| &nbsp;&nbsp;&nbsp; M/I Homes, Inc. 3.95%, 2/15/2030 | 853 | 718 |
| &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC 5.88%, 3/15/2030 (c) | 100 | 91 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/30/2028 (c) | 690 | 607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/30/2029 (c) | 4079 | 3236 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC 6.00%, 8/1/2026 (c) | 500 | 484 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt International Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 12/15/2028 (c) | 8610 | 7615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 6/15/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1166 |
| &nbsp;&nbsp;&nbsp; Manufacturers & Traders Trust Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 1/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp; Marriott Ownership Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 6/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 571 |
| &nbsp;&nbsp;&nbsp; Masonite International Corp. 5.38%, 2/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1481 |
| &nbsp;&nbsp;&nbsp; MasTec, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/15/2028 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 8/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp; Mattel, Inc. 5.88%, 12/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 952 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/15/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 4/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 8/15/2026 (c) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 13235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13351 |
| &nbsp;&nbsp;&nbsp; McAfee Corp. 7.38%, 2/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 718 |
| &nbsp;&nbsp;&nbsp; McGraw-Hill Education, Inc. 5.75%, 8/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3321 |
| &nbsp;&nbsp;&nbsp; MDC Holdings, Inc. 2.50%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/1/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3349 |
| &nbsp;&nbsp;&nbsp; Mellon Capital IV Series 1, (ICE LIBOR USD 3 Month + 0.57%), 5.31%, 3/2/2023 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1744 |
| &nbsp;&nbsp;&nbsp; Meritage Homes Corp. 3.88%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1087 |
| &nbsp;&nbsp;&nbsp; MetLife Capital Trust IV 7.88%, 12/15/2037 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8473 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series G, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.58%), 3.85%, 9/15/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (ICE LIBOR USD 3 Month + 2.96%), 5.87%, 3/15/2028 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. 5.25%, 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1109 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 3/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 6/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2487 |
| &nbsp;&nbsp;&nbsp; Midcontinent Communications 5.38%, 8/15/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2344 |
| &nbsp;&nbsp;&nbsp; Midwest Gaming Borrower LLC 4.88%, 5/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Mileage Plus Holdings LLC 6.50%, 6/20/2027 (c) | 4010 | 4051 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc. 5.00%, 7/1/2028 (c) | 265 | 242 |
| &nbsp;&nbsp;&nbsp; MIWD Holdco II LLC 5.50%, 2/1/2030 (c) | 1208 | 1004 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 6/15/2028 (c) | 1150 | 1062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 5/15/2032 (c) | 50 | 42 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc. 1.50%, 2/4/2031 | 174 | 139 |
| &nbsp;&nbsp;&nbsp; Moog, Inc. 4.25%, 12/15/2027 (c) | 630 | 584 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.46%), 4.76%, 1/25/2024 (f) | 3184 | 3181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.62%), 0.73%, 4/5/2024 (f) | 2500 | 2478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.51%), 0.79%, 1/22/2025 (b) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.15%), 2.72%, 7/22/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.56%), 1.16%, 10/21/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.94%), 2.63%, 2/18/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series M, (ICE LIBOR USD 3 Month + 4.44%), 5.87%, 9/15/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.30%), 5.05%, 1/28/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.86%), 1.51%, 7/20/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 4.21%, 4/20/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 1.93%, 4/28/2032 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.20%), 2.51%, 10/20/2032 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 5.95%, 1/19/2038 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 3.22%, 4/22/2042 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp; Moss Creek Resources Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 1/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 5/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp; MPLX LP 4.50%, 4/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp; MSCI, Inc. 4.00%, 11/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1097 |
| &nbsp;&nbsp;&nbsp; Mueller Water Products, Inc. 4.00%, 6/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1086 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp. 5.88%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp; Murphy Oil USA, Inc. 3.75%, 2/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1093 |
| &nbsp;&nbsp;&nbsp; Nabors Industries Ltd. 7.25%, 1/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 784 |
| &nbsp;&nbsp;&nbsp; Nabors Industries, Inc. 5.75%, 2/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3534 |
| &nbsp;&nbsp;&nbsp; National CineMedia LLC 5.88%, 4/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance Corp. (ICE LIBOR USD 3 Month + 3.63%), 5.25%, 4/20/2046 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2847 |
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3288 |
| &nbsp;&nbsp;&nbsp; NCR Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5316 |
| &nbsp;&nbsp;&nbsp; NESCO Holdings II, Inc. 5.50%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1066 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 6/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 4/15/2028 | 140 | 139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/15/2030 (b) (c) | 1064 | 1051 |
| &nbsp;&nbsp;&nbsp; New Albertsons LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 6/15/2026 | 1535 | 1558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 6/1/2028 | 613 | 600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 8/1/2029 | 392 | 400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 5/1/2031 | 2108 | 2192 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 4/1/2026 (i) | 6480 | 6156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 9/15/2027 | 688 | 692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/15/2029 (b) | 748 | 756 |
| &nbsp;&nbsp;&nbsp; News Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 5/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1968 |
| &nbsp;&nbsp;&nbsp; Nexstar Media, Inc. 5.63%, 7/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 16075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15313 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 3.16%), 5.65%, 5/1/2079 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.55%), 3.80%, 3/15/2082 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1689 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 7/15/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 9/15/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 853 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC 7.50%, 2/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1977 |
| &nbsp;&nbsp;&nbsp; NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.84%), 5.65%, 6/15/2023 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC 2.45%, 9/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; NMG Holding Co., Inc. 7.13%, 4/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7267 |
| &nbsp;&nbsp;&nbsp; NMI Holdings, Inc. 7.38%, 6/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416 |
| &nbsp;&nbsp;&nbsp; Nordstrom, Inc. 4.38%, 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. 2.30%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp; Northern Oil and Gas, Inc. 8.13%, 3/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1095 |
| &nbsp;&nbsp;&nbsp; Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/30/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3914 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 2/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2337 |
| &nbsp;&nbsp;&nbsp; NuStar Logistics LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 4/28/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1796 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 7/15/2027 | 5764 | 6376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 7/15/2030 | 6131 | 7219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 1/1/2031 | 3661 | 3821 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. 3.88%, 9/1/2028 (c) | 2751 | 2510 |
| &nbsp;&nbsp;&nbsp; Oncor Electric Delivery Co. LLC 4.55%, 9/15/2032 | 50 | 50 |
| &nbsp;&nbsp;&nbsp; OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 3/15/2025 | 1065 | 1062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 3/15/2026 | 4177 | 4150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 1/15/2027 | 1167 | 1015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2028 | 3858 | 3759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1132 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc. 4.38%, 10/31/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. 3.80%, 11/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc. 4.70%, 6/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp; Organon & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/30/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/30/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2347 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC 5.00%, 8/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1405 |
| &nbsp;&nbsp;&nbsp; Owens & Minor, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/31/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 4/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2913 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 8/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/13/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2126 |
| &nbsp;&nbsp;&nbsp; Pactiv Evergreen Group Issuer, Inc. 4.00%, 10/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3960 |
| &nbsp;&nbsp;&nbsp; Papa John's International, Inc. 3.88%, 9/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 |
| &nbsp;&nbsp;&nbsp; Par Pharmaceutical, Inc. 7.50%, 4/1/2027 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5202 |
| &nbsp;&nbsp;&nbsp; Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 5/19/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 3.90%), 6.25%, 2/28/2057 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 10569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.00%), 6.37%, 3/30/2062 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6587 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp; Penske Truck Leasing Co. LP 2.70%, 3/14/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 998 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 5/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 8/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6341 |
| &nbsp;&nbsp;&nbsp; PetSmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1696 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. 5.00%, 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5101 |
| &nbsp;&nbsp;&nbsp; PGT Innovations, Inc. 4.38%, 10/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1811 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. 3.38%, 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp; Photo Holdings Merger Sub, Inc. 8.50%, 10/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 10815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5407 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Physicians Realty LP, REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 1/15/2028 | 60 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 11/1/2031 | 20 | 17 |
| &nbsp;&nbsp;&nbsp; Pike Corp. 5.50%, 9/1/2028 (c) | 2448 | 2161 |
| &nbsp;&nbsp;&nbsp; Playtika Holding Corp. 4.25%, 3/15/2029 (c) | 50 | 41 |
| &nbsp;&nbsp;&nbsp; PM General Purchaser LLC 9.50%, 10/1/2028 (c) | 2542 | 1945 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series R, (ICE LIBOR USD 3 Month + 3.04%), 4.85%, 6/1/2023 (d) (e) (f) | 5972 | 5878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series T, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.60%), 3.40%, 9/15/2026 (d) (e) (f) | 7215 | 6151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series V, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.24%), 6.20%, 9/15/2027 (d) (e) (f) | 6445 | 6447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.62%), 5.35%, 12/2/2028 (f) | 980 | 1009 |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2508 |
| &nbsp;&nbsp;&nbsp; PPL Capital Funding, Inc. Series A, (ICE LIBOR USD 3 Month + 2.67%), 7.39%, 3/30/2067 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 10991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9647 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc. 5.00%, 10/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386 |
| &nbsp;&nbsp;&nbsp; Presidio Holdings, Inc. 4.88%, 2/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2245 |
| &nbsp;&nbsp;&nbsp; Prestige Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 4/1/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1077 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/31/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1620 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. (The) Series B, (ICE LIBOR USD 3 Month + 2.54%), 5.38%, 3/15/2023 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7588 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 5.12%, 3/1/2052 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.23%), 6.00%, 9/1/2052 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3033 |
| &nbsp;&nbsp;&nbsp; Public Service Co. of Oklahoma Series J, 2.20%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. 0.84%, 11/8/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. 5.40%, 5/20/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; Qwest Corp. 7.25%, 9/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 |
| &nbsp;&nbsp;&nbsp; Rain CII Carbon LLC 7.25%, 4/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2238 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 5/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1099 |
| &nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. 1.90%, 9/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp; Realogy Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/15/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3973 |
| &nbsp;&nbsp;&nbsp; Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 4/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 2/15/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 4/15/2033 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2617 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 311 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Rent-A-Center, Inc. 6.38%, 2/15/2029 (b) (c) | 522 | 444 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP, REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2027 | 8460 | 7924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2029 (c) | 2463 | 2189 |
| &nbsp;&nbsp;&nbsp; Rite Aid Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 7/1/2025 (c) | 3803 | 2485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/15/2026 (c) | 8786 | 4898 |
| &nbsp;&nbsp;&nbsp; ROCC Holdings LLC 9.25%, 8/15/2026 (c) | 442 | 448 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/15/2026 (c) | 2614 | 2331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/1/2029 (c) | 2888 | 2437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2033 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC 4.80%, 5/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1041 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 6/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.63%, 8/15/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 1/15/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3655 |
| &nbsp;&nbsp;&nbsp; Royalty Pharma plc 2.15%, 9/2/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; RP Escrow Issuer LLC 5.25%, 12/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1450 |
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co. 8.25%, 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 399 |
| &nbsp;&nbsp;&nbsp; S&P Global, Inc. 2.90%, 3/1/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp; Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 4/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 9/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2585 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp., REIT 3.13%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 813 |
| &nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/15/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/1/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2687 |
| &nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc. 5.38%, 1/15/2031 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1061 |
| &nbsp;&nbsp;&nbsp; Scripps Escrow, Inc. 5.88%, 7/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1397 |
| &nbsp;&nbsp;&nbsp; Sempra Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.55%), 4.88%, 10/15/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.87%), 4.12%, 4/1/2052 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5258 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 9/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1835 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies, Inc. 3.75%, 2/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 686 |
| &nbsp;&nbsp;&nbsp; Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 701 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Service Properties Trust, REIT 4.95%, 10/1/2029 | 481 | 361 |
| &nbsp;&nbsp;&nbsp; Shire Acquisitions Investments Ireland DAC 3.20%, 9/23/2026 | 300 | 287 |
| &nbsp;&nbsp;&nbsp; Simon Property Group LP, REIT 3.75%, 2/1/2024 | 542 | 535 |
| &nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/15/2027 (b) (c) | 2890 | 2554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 3/1/2030 (b) (c) | 1365 | 1089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/1/2030 (c) | 2515 | 1999 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/1/2027 (c) | 17425 | 16488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/15/2028 (c) | 2760 | 2457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/1/2029 (c) | 5450 | 5107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/1/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/31/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/15/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4713 |
| &nbsp;&nbsp;&nbsp; Six Flags Theme Parks, Inc. 7.00%, 7/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 708 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 6/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 957 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc. 4.63%, 11/15/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2153 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. Series E, (ICE LIBOR USD 3 Month + 4.20%), 8.64%, 3/2/2023 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014 |
| &nbsp;&nbsp;&nbsp; Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 20-A, 1.75%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp; Southwestern Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748 |
| &nbsp;&nbsp;&nbsp; Spectrum Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 3/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2468 |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 11/30/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2587 |
| &nbsp;&nbsp;&nbsp; Sprint Capital Corp. 8.75%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 12604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15566 |
| &nbsp;&nbsp;&nbsp; Sprint LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 9/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 10601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 2/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 17319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17976 |
| &nbsp;&nbsp;&nbsp; SRS Distribution, Inc. 4.63%, 7/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4623 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc. 5.50%, 9/30/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7177 |
| &nbsp;&nbsp;&nbsp; Stagwell Global LLC 5.63%, 8/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3883 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6035 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 7/15/2030 (c) | 205 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 1/15/2031 (c) | 1298 | 1031 |
| &nbsp;&nbsp;&nbsp; Staples, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2026 (c) | 13493 | 11989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 4/15/2027 (c) | 6179 | 4681 |
| &nbsp;&nbsp;&nbsp; State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, (ICE LIBOR USD 3 Month + 2.54%), 5.63%, 12/15/2023 (d) (e) (f) | 4393 | 4229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.60%), 4.86%, 1/26/2026 (f) | 700 | 703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.73%), 2.20%, 2/7/2028 (f) | 290 | 266 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC 4.50%, 2/15/2028 (c) | 4874 | 4388 |
| &nbsp;&nbsp;&nbsp; Stericycle, Inc. 3.88%, 1/15/2029 (c) | 1821 | 1616 |
| &nbsp;&nbsp;&nbsp; Stevens Holding Co., Inc. 6.13%, 10/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1969 |
| &nbsp;&nbsp;&nbsp; StoneX Group, Inc. 8.63%, 6/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp; Summit Materials LLC 5.25%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 819 |
| &nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC 8.50%, 10/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1932 |
| &nbsp;&nbsp;&nbsp; Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3476 |
| &nbsp;&nbsp;&nbsp; SVB Financial Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 1/29/2025 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.20%), 4.00%, 5/15/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 10358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.07%), 4.25%, 11/15/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1836 |
| &nbsp;&nbsp;&nbsp; Sylvamo Corp. 7.00%, 9/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc. 4.00%, 6/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1372 |
| &nbsp;&nbsp;&nbsp; Syneos Health, Inc. 3.63%, 1/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 737 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 4/14/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/14/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 10/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/31/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/1/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3849 |
| &nbsp;&nbsp;&nbsp; Targa Resources Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1957 |
| &nbsp;&nbsp;&nbsp; Target Corp. 4.50%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; TEGNA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546 |
| &nbsp;&nbsp;&nbsp; Tempur Sealy International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2410 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/1/2026 | 22644 | 22055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 2/1/2027 (c) | 17904 | 17501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2029 | 3354 | 2986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/15/2030 (c) | 3724 | 3615 |
| &nbsp;&nbsp;&nbsp; Terex Corp. 5.00%, 5/15/2029 (c) | 5609 | 5237 |
| &nbsp;&nbsp;&nbsp; Thor Industries, Inc. 4.00%, 10/15/2029 (b) (c) | 1247 | 1037 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. 2.25%, 11/15/2031 | 542 | 443 |
| &nbsp;&nbsp;&nbsp; Topaz Solar Farms LLC 5.75%, 9/30/2039 (c) | 360 | 346 |
| &nbsp;&nbsp;&nbsp; TopBuild Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/15/2029 (c) | 404 | 344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 2/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp. (SOFRINDX + 0.33%), 4.64%, 1/11/2024 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 752 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc. 6.25%, 3/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5378 |
| &nbsp;&nbsp;&nbsp; Transocean Guardian Ltd. 5.88%, 1/15/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 771 |
| &nbsp;&nbsp;&nbsp; Transocean Pontus Ltd. 6.13%, 8/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3020 |
| &nbsp;&nbsp;&nbsp; Transocean Poseidon Ltd. 6.88%, 2/1/2027 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1914 |
| &nbsp;&nbsp;&nbsp; Transocean Proteus Ltd. 6.25%, 12/1/2024 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; Transocean Titan Financing Ltd. 8.38%, 2/1/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 873 |
| &nbsp;&nbsp;&nbsp; Transocean, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 2/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 3/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp; TreeHouse Foods, Inc. 4.00%, 9/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 |
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp; TriMas Corp. 4.13%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4055 |
| &nbsp;&nbsp;&nbsp; TriNet Group, Inc. 3.50%, 3/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1098 |
| &nbsp;&nbsp;&nbsp; Trinseo Materials Operating SCA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 9/1/2025 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1850 |
| &nbsp;&nbsp;&nbsp; Triton Water Holdings, Inc. 6.25%, 4/1/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2189 |
| &nbsp;&nbsp;&nbsp; Triumph Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 6/1/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 9/15/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 8/15/2025 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1419 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series M, (ICE LIBOR USD 3 Month + 2.79%), 5.12%, 12/15/2027 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Q, (US Treasury Yield Curve Rate T Note Constant Maturity 10 Year + 4.35%), 5.10%, 3/1/2030 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8483 |
| &nbsp;&nbsp;&nbsp; Tucson Electric Power Co. 1.50%, 8/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. 4.50%, 8/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3107 |
| &nbsp;&nbsp;&nbsp; UDR, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc. 5.00%, 2/1/2024 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2391 |
| &nbsp;&nbsp;&nbsp; United Airlines, Inc. 4.38%, 4/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4013 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 5/15/2027 | 3236 | 3216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/15/2030 | 2300 | 2225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2031 | 4679 | 4118 |
| &nbsp;&nbsp;&nbsp; United States Cellular Corp. 6.70%, 12/15/2033 | 2500 | 2325 |
| &nbsp;&nbsp;&nbsp; United States Steel Corp. 6.88%, 3/1/2029 (b) | 993 | 1003 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 2/15/2028 | 70 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 5/15/2032 | 60 | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 2/15/2033 | 65 | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 5/15/2041 | 75 | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp; Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 6/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 6/30/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3737 |
| &nbsp;&nbsp;&nbsp; US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series V, 2.38%, 7/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.54%), 3.70%, 1/15/2027 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series J, (ICE LIBOR USD 3 Month + 2.91%), 5.30%, 4/15/2027 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.66%), 4.55%, 7/22/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc. 6.25%, 5/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1147 |
| &nbsp;&nbsp;&nbsp; Valvoline, Inc. 4.25%, 2/15/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1376 |
| &nbsp;&nbsp;&nbsp; Varex Imaging Corp. 7.88%, 10/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp; Vector Group Ltd. 5.75%, 2/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1086 |
| &nbsp;&nbsp;&nbsp; Venator Finance SARL 5.75%, 7/15/2025 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1190 |
| &nbsp;&nbsp;&nbsp; Ventas Realty LP, REIT 4.00%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 11/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 1/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp; Viavi Solutions, Inc. 3.75%, 10/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361 |
| &nbsp;&nbsp;&nbsp; VICI Properties LP, REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 2/1/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4366 |
| &nbsp;&nbsp;&nbsp; Vista Outdoor, Inc. 4.50%, 3/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5996 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.74%), 7.00%, 12/15/2026 (c) (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1601 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/1/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1212 |
| &nbsp;&nbsp;&nbsp; VM Consolidated, Inc. 5.50%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; VMware, Inc. 2.20%, 8/15/2031 | 286 | 227 |
| &nbsp;&nbsp;&nbsp; Wabash National Corp. 4.50%, 10/15/2028 (c) | 3121 | 2739 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.76%, 3/15/2027 (c) | 60 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 3/15/2032 (c) | 135 | 120 |
| &nbsp;&nbsp;&nbsp; Warrior Met Coal, Inc. 7.88%, 12/1/2028 (c) | 976 | 961 |
| &nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. 1.80%, 10/15/2030 | 100 | 81 |
| &nbsp;&nbsp;&nbsp; Weekley Homes LLC 4.88%, 9/15/2028 (c) | 599 | 521 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series S, (ICE LIBOR USD 3 Month + 3.11%), 5.90%, 6/15/2024 (d) (e) (f) | 4432 | 4338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.51%), 0.80%, 5/19/2025 (f) | 1540 | 1458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series U, (ICE LIBOR USD 3 Month + 3.99%), 5.87%, 6/15/2025 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 0.75%), 2.16%, 2/11/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series BB, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.45%), 3.90%, 3/15/2026 (d) (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.51%), 3.53%, 3/24/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), 4.90%, 7/25/2033 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp; Wesco Aircraft Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 11/15/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 11/15/2026 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 10989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.13%, 11/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 6/15/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 6/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3074 |
| &nbsp;&nbsp;&nbsp; William Carter Co. (The) 5.63%, 3/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4283 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The) 2.60%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp; Winnebago Industries, Inc. 6.25%, 7/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp. 3.75%, 12/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4368 |
| &nbsp;&nbsp;&nbsp; WP Carey, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 2/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/1/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1222 |
| &nbsp;&nbsp;&nbsp; Wynn Las Vegas LLC 5.50%, 3/1/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9511 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC 5.13%, 10/1/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5377 |
| &nbsp;&nbsp;&nbsp; XPO Escrow Sub LLC 7.50%, 11/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3038 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2982 |
| &nbsp;&nbsp;&nbsp; Ziff Davis, Inc. 4.63%, 10/15/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1126 |
| &nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. 2.60%, 11/24/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp; Zoetis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 2/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 |
|  |  | &nbsp;&nbsp; 2524414 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Uzbekistan — 0.0% ^** | **Uzbekistan — 0.0% ^** | **Uzbekistan — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Uzbekneftegaz JSC 4.75%, 11/16/2028 (c) | 1350 | 1131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $3,592,442)<br>|  | &nbsp;&nbsp; 3315186 |
| **Equity Linked Notes — 7.3%** | **Equity Linked Notes — 7.3%** | **Equity Linked Notes — 7.3%** |
| **Canada — 1.0%** | **Canada — 1.0%** | **Canada — 1.0%** |
| &nbsp;&nbsp;&nbsp; National Bank of Canada, ELN, 9.00%, 4/4/2023, (linked to NASDAQ - 100 Index) (c) | 9 | 108309 |
| **France — 4.2%** | **France — 4.2%** | **France — 4.2%** |
| &nbsp;&nbsp;&nbsp; BNP Paribas, ELN, 8.50%, 3/16/2023, (linked to NASDAQ - 100 Index) (c) | 9 | 108945 |
| &nbsp;&nbsp;&nbsp; BNP Paribas, ELN, 9.00%, 3/23/2023, (linked to NASDAQ - 100 Index) (c) | 9 | 106979 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 9.00%, 3/1/2023, (linked to NASDAQ - 100 Index) (c) | 9 | 106670 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 9.00%, 4/11/2023, (linked to NASDAQ - 100 Index) (c) | 9 | 108891 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 431485 |
| **Switzerland — 1.1%** | **Switzerland — 1.1%** | **Switzerland — 1.1%** |
| &nbsp;&nbsp;&nbsp; UBS AG, ELN, 9.00%, 4/6/2023, (linked to NASDAQ - 100 Index) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 109290 |
| **United Kingdom — 1.0%** | **United Kingdom — 1.0%** | **United Kingdom — 1.0%** |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 8.50%, 3/9/2023, (linked to NASDAQ - 100 Index) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 107935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Equity Linked Notes <br>(Cost $720,672)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 757019 |
|  | **SHARES** <br>**(000)**<br>|  |
| **Exchange-Traded Funds — 5.3%** | **Exchange-Traded Funds — 5.3%** | **Exchange-Traded Funds — 5.3%** |
| **United States — 5.3%** | **United States — 5.3%** | **United States — 5.3%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Equity Premium Income ETF (l) (m)(Cost $581,493) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9886 | &nbsp;&nbsp;&nbsp;&nbsp; 548357 |
|  | **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Commercial Mortgage-Backed Securities — 4.3%** | **Commercial Mortgage-Backed Securities — 4.3%** | **Commercial Mortgage-Backed Securities — 4.3%** |
| **United States — 4.3%** | **United States — 4.3%** | **United States — 4.3%** |
| &nbsp;&nbsp;&nbsp; BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN16, Class D, 3.00%, 2/15/2052 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN16, Class F, 3.69%, 2/15/2052 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN21, Class F, 2.68%, 10/17/2052 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN23, Class D, 2.50%, 12/15/2052 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN31, Class E, 2.50%, 2/15/2054 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-BNK5, Class D, 3.08%, 6/15/2060 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-BN14, Class F, 3.94%, 9/15/2060 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-BN15, Class E, 3.00%, 11/15/2061 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN24, Class D, 2.50%, 11/15/2062 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN24, Class C, 3.52%, 11/15/2062 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN26, Class D, 2.50%, 3/15/2063 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN28, Class E, 2.50%, 3/15/2063 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1701 |
| &nbsp;&nbsp;&nbsp; BBCMS MORTGAGE TRUST Series 2017-C1, Class D, 3.54%, 2/15/2050 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2157 |
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B1, Class D, 2.75%, 1/15/2051 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B9, Class F, 3.75%, 3/15/2052 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3775 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B11, Class D, 3.00%, 5/15/2052 (c) | 4000 | 2694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-B21, Class E, 2.00%, 12/17/2053 (c) | 2500 | 1295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B14, Class E, 2.50%, 12/15/2062 (c) | 1415 | 829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B15, Class E, 2.75%, 12/15/2072 (c) | 4391 | 2566 |
| &nbsp;&nbsp;&nbsp; BMO Mortgage Trust Series 2023-C4, Class B, 1.00%, 2/15/2056 (g) (k) | 4750 | 4760 |
| &nbsp;&nbsp;&nbsp; BX Series 2021-MFM1, Class G, 8.36%, 1/15/2034 (c) (k) | 750 | 702 |
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust Series 2020-VIV2, Class C, 3.54%, 3/9/2044 (c) (k) | 10696 | 8965 |
| &nbsp;&nbsp;&nbsp; CAMB Commercial Mortgage Trust Series 2019-LIFE, Class E, 6.61%, 12/15/2037 (c) (k) | 2690 | 2629 |
| &nbsp;&nbsp;&nbsp; CD Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-CD2, Class C, 3.98%, 11/10/2049 (k) | 750 | 612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD4, Class D, 3.30%, 5/10/2050 (c) | 1000 | 743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD5, Class D, 3.35%, 8/15/2050 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD6, Class C, 4.23%, 11/13/2050 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-CD7, Class D, 3.10%, 8/15/2051 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1362 |
| &nbsp;&nbsp;&nbsp; CFCRE Commercial Mortgage Trust Series 2016-C6, Class D, 4.19%, 11/10/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 761 |
| &nbsp;&nbsp;&nbsp; CGMS Commercial Mortgage Trust Series 2017-B1, Class E, 3.30%, 8/15/2050 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1819 |
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-PRM, Class E, 4.73%, 5/10/2036 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GC27, Class D, 4.42%, 2/10/2048 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GC29, Class C, 4.14%, 4/10/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-P1, Class D, 3.23%, 9/15/2048 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C1, Class D, 4.94%, 5/10/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C2, Class D, 3.25%, 8/10/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-P6, Class D, 3.25%, 12/10/2049 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-P7, Class D, 3.25%, 4/14/2050 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-P7, Class B, 4.14%, 4/14/2050 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-P7, Class C, 4.41%, 4/14/2050 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GC46, Class E, 2.60%, 2/15/2053 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2676 |
| &nbsp;&nbsp;&nbsp; COLEM Mortgage Trust Series 2022-HLNE, Class A, 2.46%, 4/12/2042 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2143 |
| &nbsp;&nbsp;&nbsp; Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-CBM, Class F, 3.63%, 2/10/2037 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-CR15, Class C, 4.67%, 2/10/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-LC15, Class D, 5.00%, 4/10/2047 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-CR19, Class D, 4.70%, 8/10/2047 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-UBS5, Class D, 3.50%, 9/10/2047 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-LC17, Class D, 3.69%, 10/10/2047 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR22, Class E, 3.00%, 3/10/2048 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR22, Class D, 4.07%, 3/10/2048 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-LC21, Class D, 4.33%, 7/10/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR24, Class D, 3.46%, 8/10/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR25, Class D, 3.77%, 8/10/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR27, Class D, 3.45%, 10/10/2048 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR26, Class D, 3.47%, 10/10/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-LC23, Class D, 3.56%, 10/10/2048 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-LC23, Class E, 3.56%, 10/10/2048 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-CR28, Class D, 3.85%, 2/10/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-CR28, Class C, 4.60%, 2/10/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1832 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-COR3, Class D, 2.81%, 5/10/2051 (c) (k) | 2000 | 1338 |
| &nbsp;&nbsp;&nbsp; CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C4, Class C, 4.56%, 11/15/2048 (k) | 2500 | 2265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C2, Class B, 4.21%, 6/15/2057 (k) | 1000 | 903 |
| &nbsp;&nbsp;&nbsp; DBJPM Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C3, Class D, 3.47%, 8/10/2049 (c) (k) | 1170 | 852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C3, Class E, 4.22%, 8/10/2049 (c) (k) | 1250 | 841 |
| &nbsp;&nbsp;&nbsp; FHLMC Multiclass Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-RR05, Class X, IO, 2.01%, 1/27/2029 | 17110 | 1684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-RR14, Class X, IO, 2.13%, 3/27/2034 (k) | 6200 | 1015 |
| &nbsp;&nbsp;&nbsp; FHLMC, Multi-Family Structured Credit Risk |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series MN2, Class B1, 9.81%, 7/25/2041 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN1, Class M1, 6.31%, 1/25/2051 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series MN1, Class M2, 8.06%, 1/25/2051 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp; 13250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN1, Class B1, 12.06%, 1/25/2051 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN3, Class M1, 6.61%, 11/25/2051 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-MN4, Class B1, 13.81%, 5/25/2052 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4063 |
| &nbsp;&nbsp;&nbsp; FHLMC, Multi-Family Structured Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K033, Class X1, IO, 0.28%, 7/25/2023 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 98770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KC03, Class X1, IO, 0.48%, 11/25/2024 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 61731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K734, Class X3, IO, 2.17%, 7/25/2026 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 13025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KC04, Class X1, IO, 1.25%, 12/25/2026 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 14857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K084, Class X3, IO, 2.24%, 11/25/2028 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K090, Class X3, IO, 2.31%, 10/25/2029 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K723, Class X3, IO, 1.91%, 10/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Q012, Class X, IO, 4.12%, 9/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 23174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-MN5, Class B1, 13.81%, 11/25/2042 ‡ (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K054, Class X3, IO, 1.60%, 4/25/2043 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K067, Class X3, IO, 2.11%, 9/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 34106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K727, Class X3, IO, 2.00%, 10/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 33818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K068, Class X3, IO, 2.06%, 10/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 11050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K059, Class X3, IO, 1.92%, 11/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 24693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K729, Class X3, IO, 1.97%, 11/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 37637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K060, Class X3, IO, 1.90%, 12/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K061, Class X3, IO, 1.98%, 12/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K066, Class X3, IO, 2.16%, 8/25/2045 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K728, Class X3, IO, 1.96%, 11/25/2045 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K071, Class X3, IO, 2.01%, 11/25/2045 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K089, Class X3, IO, 2.30%, 1/25/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 22283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K087, Class X3, IO, 2.32%, 1/25/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 18300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K082, Class X3, IO, 2.21%, 10/25/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 11750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K102, Class X3, IO, 1.89%, 12/25/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K088, Class X3, IO, 2.35%, 2/25/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 11130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K093, Class X3, IO, 2.21%, 5/25/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K116, Class X3, IO, 3.02%, 9/25/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 10500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K108, Class X3, IO, 3.49%, 4/25/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 19600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3691 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; FNMA ACES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-M21, Class X2, IO, 1.30%, 2/25/2031 (k) | 5709 | 425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-M37, Class X, IO, 1.03%, 4/25/2032 (k) | 25381 | 1374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-M4, Class X2, IO, 2.67%, 1/25/2039 (k) | 6932 | 106 |
| &nbsp;&nbsp;&nbsp; FREMF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF31, Class B, 7.29%, 4/25/2024 (c) (k) | 1322 | 1311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF38, Class B, 6.89%, 9/25/2024 (c) (k) | 632 | 619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF47, Class B, 6.39%, 5/25/2025 (c) (k) | 1348 | 1319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF49, Class B, 6.29%, 6/25/2025 (c) (k) | 143 | 135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF51, Class C, 10.39%, 8/25/2025 (c) (k) | 2802 | 2658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KC03, Class B, 4.38%, 1/25/2026 (c) (k) | 2304 | 2179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KF58, Class B, 6.54%, 1/25/2026 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KF62, Class B, 6.44%, 4/25/2026 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KL1E, Class BE, 3.91%, 2/25/2027 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF33, Class B, 6.94%, 6/25/2027 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF40, Class B, 7.09%, 11/25/2027 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF43, Class B, 6.54%, 1/25/2028 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 21K-F116, Class CS, 10.46%, 6/25/2028 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF50, Class B, 6.29%, 7/25/2028 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-K82, Class B, 4.13%, 9/25/2028 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KSW4, Class C, 9.39%, 10/25/2028 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KF59, Class B, 6.74%, 2/25/2029 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KG01, Class B, 4.17%, 4/25/2029 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KW09, Class X2A, IO, 0.10%, 5/25/2029 (c) | &nbsp;&nbsp;&nbsp; 282340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KF63, Class B, 6.74%, 5/25/2029 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KW09, Class C, PO, 6/25/2029 ‡ (c) | &nbsp;&nbsp;&nbsp;&nbsp; 24011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KW09, Class X2B, IO, 0.10%, 6/25/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 32681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K153, Class B, PO, 4/25/2032 ‡ (c) | &nbsp;&nbsp;&nbsp;&nbsp; 10281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-KF149, Class CS, 10.21%, 12/25/2032 ‡ (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K729, Class B, 3.67%, 11/25/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K724, Class D, PO, 12/25/2049 ‡ (c) | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K724, Class X2A, IO, 0.10%, 12/25/2049 (c) | &nbsp;&nbsp;&nbsp; 151464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K724, Class X2B, IO, 0.10%, 12/25/2049 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 52000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp; GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-7, IO, 0.30%, 5/16/2053 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 34713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-89, IO, 0.14%, 12/16/2053 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-186, IO, 0.37%, 8/16/2054 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-59, IO, 0.88%, 6/16/2056 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-40, IO, 0.62%, 7/16/2057 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-157, IO, 0.89%, 11/16/2057 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 10160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-71, Class QI, IO, 0.94%, 11/16/2057 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 43575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-151, IO, 0.85%, 6/16/2058 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 35325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-54, IO, 0.69%, 12/16/2058 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-86, IO, 0.68%, 5/16/2059 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-148, IO, 0.55%, 7/16/2059 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-53, Class IA, IO, 0.78%, 6/16/2061 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-145, IO, 0.73%, 3/16/2063 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 55699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3125 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-GCJ9, Class D, 4.80%, 11/10/2045 (c) (k) | 443 | 409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-GC12, Class E, 3.25%, 6/10/2046 (c) | 800 | 767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-GC12, Class D, 4.41%, 6/10/2046 (c) (k) | 750 | 732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GC28, Class D, 4.31%, 2/10/2048 (c) (k) | 2500 | 2150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GS5, Class D, 3.51%, 3/10/2050 (c) (k) | 2900 | 2078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GS6, Class D, 3.24%, 5/10/2050 (c) | 1750 | 1317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GC30, Class D, 3.38%, 5/10/2050 | 1250 | 1049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GC40, Class E, 3.00%, 7/10/2052 (c) | 2250 | 1426 |
| &nbsp;&nbsp;&nbsp; Jackson Park Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-LIC, Class E, 3.24%, 10/14/2039 (c) (k) | 3625 | 2645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-LIC, Class F, 3.24%, 10/14/2039 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2909 |
| &nbsp;&nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-C15, Class E, 3.50%, 11/15/2045 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-C17, Class D, 4.88%, 1/15/2047 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C21, Class D, 4.64%, 8/15/2047 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C33, Class C, 4.62%, 12/15/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C1, Class D2, 4.24%, 3/17/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C1, Class C, 4.74%, 3/17/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4571 |
| &nbsp;&nbsp;&nbsp; JPMCC Commercial Mortgage Securities Trust Series 2017-JP5, Class D, 4.53%, 3/15/2050 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5907 |
| &nbsp;&nbsp;&nbsp; JPMDB Commercial Mortgage Securities Trust Series 2016-C4, Class D, 3.07%, 12/15/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1817 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase Commercial Mortgage Securities Trust Series 2016-JP3, Class D, 3.40%, 8/15/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3331 |
| &nbsp;&nbsp;&nbsp; KNDL Mortgage Trust Series 2019-KNSQ, Class E, 6.26%, 5/15/2036 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2009 |
| &nbsp;&nbsp;&nbsp; LB-UBS Commercial Mortgage Trust Series 2006-C6, Class AJ, 5.45%, 9/15/2039 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1468 |
| &nbsp;&nbsp;&nbsp; MHC Commercial Mortgage Trust Series 2021-MHC, Class G, 7.66%, 4/15/2038 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp; 14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13788 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-C5, Class G, 4.50%, 8/15/2045 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C14, Class D, 5.06%, 2/15/2047 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C15, Class D, 4.89%, 4/15/2047 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C16, Class C, 4.73%, 6/15/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C19, Class D, 3.25%, 12/15/2047 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C20, Class C, 4.45%, 2/15/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C24, Class D, 3.26%, 5/15/2048 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C25, Class C, 4.53%, 10/15/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C31, Class C, 4.27%, 11/15/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1170 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-MP, Class D, 4.28%, 7/11/2040 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-L1, Class E, 3.00%, 10/15/2051 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-L2, Class D, 3.00%, 3/15/2052 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-L2, Class E, 3.00%, 3/15/2052 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1633 |
| &nbsp;&nbsp;&nbsp; MRCD MARK Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-PARK, Class F, 2.72%, 12/15/2036 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-PARK, Class G, 2.72%, 12/15/2036 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-PARK, Class J, 4.25%, 12/15/2036 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14283 |
| &nbsp;&nbsp;&nbsp; Multi-Family Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-01, Class M10, 7.76%, 10/25/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-01, Class M10, 8.26%, 3/25/2050 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2677 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; NYC Commercial Mortgage Trust Series 2021-909, Class E, 3.21%, 4/10/2043 (c) (k) | 5000 | 2910 |
| &nbsp;&nbsp;&nbsp; SLG Office Trust Series 2021-OVA, Class E, 2.85%, 7/15/2041 (c) | 7000 | 5079 |
| &nbsp;&nbsp;&nbsp; VASA Trust Series 2021-VASA, Class G, 9.46%, 7/15/2039 (c) (k) | 1360 | 1211 |
| &nbsp;&nbsp;&nbsp; Velocity Commercial Capital Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class A, 4.05%, 10/26/2048 (c) (k) | 2412 | 2322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class M2, 4.51%, 10/26/2048 (c) (k) | 162 | 138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class M3, 4.72%, 10/26/2048 (c) (k) | 236 | 197 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SAVE, Class E, 8.11%, 2/15/2040 (c) (k) | 1818 | 1620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-NXS1, Class E, 2.88%, 5/15/2048 (c) (k) | 1500 | 1167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C28, Class D, 4.08%, 5/15/2048 (k) | 7740 | 6606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C35, Class D, 3.14%, 7/15/2048 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C43, Class D, 3.00%, 3/15/2051 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C44, Class D, 3.00%, 5/15/2051 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C52, Class XA, IO, 1.60%, 8/15/2052 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-NXS3, Class D, 3.15%, 9/15/2057 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 815 |
| &nbsp;&nbsp;&nbsp; WFRBS Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C19, Class D, 4.23%, 3/15/2047 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C22, Class D, 3.91%, 9/15/2057 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Mortgage-Backed Securities <br>(Cost $502,991)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 444595 |
| **Collateralized Mortgage Obligations — 3.8%** | **Collateralized Mortgage Obligations — 3.8%** | **Collateralized Mortgage Obligations — 3.8%** |
| **Bermuda — 0.0% ^** | **Bermuda — 0.0% ^** | **Bermuda — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Bellemeade Re Ltd. Series 2019-1A, Class M2, 7.21%, 3/25/2029 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1007 |
| &nbsp;&nbsp;&nbsp; Eagle RE Ltd. Series 2019-1, Class M2, 7.81%, 4/25/2029 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1989 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2996 |
| **United States — 3.8%** | **United States — 3.8%** | **United States — 3.8%** |
| &nbsp;&nbsp;&nbsp; Adjustable Rate Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class 6A1, 3.85%, 2/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class 3A1, 4.28%, 6/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp; Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-28CB, Class 4A1, 5.00%, 1/25/2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-50CB, Class 4A1, 5.00%, 11/25/2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-85CB, Class 3A2, 5.25%, 2/25/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-9T1, Class 3A1, 5.50%, 5/25/2022 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J6, Class 2A1, 5.50%, 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J3, Class 4A1, 5.75%, 5/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J1, Class 3A1, 6.50%, 8/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-12CB, Class 2A1, 6.00%, 6/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-25CB, Class A1, 6.00%, 12/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-28CB, Class 2A4, 5.75%, 1/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-28CB, Class 6A1, 6.00%, 1/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-32CB, Class 2A5, 5.50%, 2/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3CB, Class 1A13, 5.50%, 3/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J2, Class 1A5, 5.01%, 4/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6CB, Class 1A4, 5.50%, 4/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1911 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6CB, Class 1A6, 5.50%, 4/25/2035 | 266 | 230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10CB, Class 1A5, 5.50%, 5/25/2035 | 2354 | 1884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10CB, Class 1A8, 5.50%, 5/25/2035 | 1361 | 1112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-13CB, Class A4, 5.50%, 5/25/2035 | 906 | 778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-21CB, Class A4, 5.25%, 6/25/2035 | 488 | 382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-21CB, Class A17, 6.00%, 6/25/2035 | 2172 | 1756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-20CB, Class 1A1, 5.50%, 7/25/2035 | 96 | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-23CB, Class A15, 5.50%, 7/25/2035 | 1076 | 878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-64CB, Class 1A1, 5.50%, 12/25/2035 | 390 | 346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-64CB, Class 1A15, 5.50%, 12/25/2035 | 987 | 875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J14, Class A3, 5.50%, 12/25/2035 | 223 | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J14, Class A7, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J14, Class A8, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-86CB, Class A4, 5.50%, 2/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J1, Class 1A13, 5.50%, 2/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-80CB, Class 5A1, 6.00%, 2/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4CB, Class 2A5, 5.50%, 4/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-14CB, Class A1, 6.00%, 6/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-19CB, Class A15, 6.00%, 8/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-25CB, Class A2, 6.00%, 10/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-41CB, Class 2A13, 5.75%, 1/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-8CB, Class A9, 6.00%, 5/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-19, Class 1A8, 6.00%, 8/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; American Home Mortgage Investment Trust Series 2007-2, Class 12A1, 5.05%, 3/25/2037 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1674 |
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-5, Class B1, 3.96%, 10/25/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-6, Class B1, 3.94%, 11/25/2059 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-6, Class B3, 5.92%, 11/25/2059 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1155 |
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2, Class B1, 5.02%, 3/25/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2, Class B2, 6.29%, 3/25/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-4, Class B1, 4.41%, 7/26/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4512 |
| &nbsp;&nbsp;&nbsp; Banc of America Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4, Class 2A1, 6.00%, 5/25/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11, Class 4A5, 5.75%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4, Class 3CB4, 6.00%, 5/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4, Class 4CB1, 6.50%, 5/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5, Class CB7, 6.00%, 6/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp; Banc of America Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4, Class 8A1, 5.50%, 11/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6, Class 1A2, 5.50%, 10/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-7, Class 4A7, 6.00%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A, Class 1A1, 4.16%, 2/20/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-2, Class 2A20, 5.75%, 3/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-5, Class 4A1, 4.88%, 7/25/2037 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1423 |
| &nbsp;&nbsp;&nbsp; Banc of America Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-A, Class 2A2, 3.28%, 2/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class 1A1, 6.00%, 9/25/2037 | 116 | 101 |
| &nbsp;&nbsp;&nbsp; Bear Stearns ALT-A Trust Series 2006-8, Class 3A1, 4.83%, 2/25/2034 (k) | 191 | 169 |
| &nbsp;&nbsp;&nbsp; Bear Stearns Asset-Backed Securities I Trust Series 2004-AC5, Class M1, 5.51%, 10/25/2034 (k) | 285 | 213 |
| &nbsp;&nbsp;&nbsp; Chase Mortgage Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A2, Class 3A1, 3.72%, 6/25/2035 (k) |  | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S3, Class 1A2, 6.00%, 11/25/2036 | 1047 | 480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S4, Class A5, 6.00%, 12/25/2036 | 812 | 397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-S2, Class 1A8, 6.00%, 3/25/2037 | 191 | 104 |
| &nbsp;&nbsp;&nbsp; CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-20, Class A7, 5.25%, 12/25/2027 | 76 | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-25, Class 2A1, 5.19%, 2/25/2035 (k) | 1875 | 1569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-26, Class 1A11, 5.50%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-31, Class 2A1, 3.21%, 1/25/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-30, Class A5, 5.50%, 1/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HYB1, Class 2A2C, 3.46%, 3/20/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HYB2, Class 2A1B, 3.55%, 4/20/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J2, Class 1A1, 6.00%, 4/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-10, Class 1A16, 6.00%, 5/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-17, Class A2, 6.00%, 12/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-18, Class 2A4, 6.00%, 12/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-2, Class A2, 6.00%, 3/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class A18, 6.00%, 4/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-10, Class A4, 5.50%, 7/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-13, Class A4, 6.00%, 8/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-16, Class A1, 6.50%, 10/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-18, Class 2A1, 6.50%, 11/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA5, Class 2A1, 4.91%, 4/25/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1298 |
| &nbsp;&nbsp;&nbsp; Citicorp Mortgage Securities Trust Series 2007-4, Class 1A9, 6.00%, 5/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290 |
| &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR3, Class 1A1A, 3.42%, 6/25/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR5, Class 1A5A, 3.60%, 7/25/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6, Class A1, 6.08%, 9/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-8, Class A3, 4.86%, 10/25/2035 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-9, Class 2A2, 5.50%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class B1, 3.06%, 9/27/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class B1, 4.13%, 11/26/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class B2, 4.13%, 11/26/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class B1, 4.11%, 12/27/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class B2, 4.11%, 12/27/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1821 |
| &nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-R07, Class 1B1, 7.91%, 10/25/2039 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-R02, Class 2B1, 7.51%, 1/25/2040 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp; 16158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R01, Class 1B1, 7.41%, 10/25/2041 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R03, Class 1B1, 7.06%, 12/25/2041 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R03, Class 1B2, 9.81%, 12/25/2041 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8176 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R01, Class 1B2, 10.31%, 12/25/2041 (c) (k) | 11437 | 10297 |
| &nbsp;&nbsp;&nbsp; CSFB Mortgage-Backed Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 11A1, 5.50%, 11/25/2020 | 572 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-29, Class 3A1, 5.50%, 12/25/2033 | 170 | 163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR4, Class 4A1, 3.59%, 5/25/2034 (k) | 876 | 879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR4, Class 2A1, 3.80%, 5/25/2034 (k) | 151 | 151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR5, Class 6A1, 3.47%, 6/25/2034 (k) | 223 | 215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-4, Class 4A1, 5.50%, 8/25/2034 | 1086 | 1080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-8, Class 4A3, 5.50%, 12/25/2034 | 83 | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4, Class 2A5, 5.06%, 6/25/2035 (k) | 2225 | 1564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 5A3, 5.50%, 11/25/2035 | 275 | 209 |
| &nbsp;&nbsp;&nbsp; CSFB Mortgage-Backed Trust Series 2004-AR6, Class 7A1, 4.17%, 10/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp; CSMC Mortgage-Backed Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-8, Class 5A1, 5.53%, 10/25/2026 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-2, Class 3A13, 5.50%, 3/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp; Deephaven Residential Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class B1, 3.27%, 8/25/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class B2, 4.13%, 8/25/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4, Class B1, 4.16%, 11/25/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4, Class B2, 4.48%, 11/25/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class B1, 4.30%, 1/25/2067 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class B2, 4.30%, 1/25/2067 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2, Class A3, 4.30%, 3/25/2067 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4226 |
| &nbsp;&nbsp;&nbsp; Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2005-1, Class 2A1, 4.29%, 2/25/2020 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| &nbsp;&nbsp;&nbsp; Deutsche Alt-A Securities, Inc., Mortgage Loan Trust Series 2005-2, Class 2A1, 4.32%, 3/25/2020 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp; DSLA Mortgage Loan Trust Series 2005-AR4, Class 2A1A, 4.99%, 8/19/2045 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1027 |
| &nbsp;&nbsp;&nbsp; FHLMC STACR Series 2019-HQA3, Class B1, 7.51%, 9/25/2049 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2978 |
| &nbsp;&nbsp;&nbsp; FHLMC STACR REMIC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA5, Class B2, 9.81%, 1/25/2034 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA6, Class B1, 7.71%, 10/25/2041 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-HQA1, Class B2, 9.61%, 1/25/2050 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA1, Class B2, 9.06%, 1/25/2051 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6887 |
| &nbsp;&nbsp;&nbsp; FHLMC Structured Agency Credit Risk Debt Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-DNA3, Class B1, 8.96%, 3/25/2030 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA2, Class B2, 10.31%, 8/25/2033 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp; 18050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16577 |
| &nbsp;&nbsp;&nbsp; FHLMC, REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4068, Class DS, IF, IO, 1.54%, 6/15/2042 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4097, Class ES, IF, IO, 1.64%, 8/15/2042 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4103, Class SB, IF, IO, 1.59%, 9/15/2042 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4425, Class SA, IF, IO, 1.59%, 1/15/2045 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4594, Class SG, IF, IO, 1.54%, 6/15/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4606, Class SB, IF, IO, 1.54%, 8/15/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4614, Class SK, IF, IO, 1.54%, 9/15/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp; 10208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4616, Class HS, IF, IO, 1.54%, 9/15/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4718, Class SD, IF, IO, 1.69%, 9/15/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4768, Class SG, IF, IO, 1.74%, 3/15/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4820, Class ES, IF, IO, 1.74%, 3/15/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4834, Class SA, IF, IO, 1.69%, 10/15/2048 (k) | 3029 | 327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4839, Class WS, IF, IO, 1.64%, 8/15/2056 (k) | 6673 | 951 |
| &nbsp;&nbsp;&nbsp; FHLMC, STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 264, Class S1, IF, IO, 1.49%, 7/15/2042 (k) | 1680 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 274, Class S1, IF, IO, 1.54%, 8/15/2042 (k) | 2156 | 231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 278, Class S1, IF, IO, 1.59%, 9/15/2042 (k) | 1841 | 211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 279, Class S6, IF, IO, 1.59%, 9/15/2042 (k) | 1469 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 300, Class S1, IF, IO, 1.64%, 1/15/2043 (k) | 1966 | 214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 316, Class S7, IF, IO, 1.64%, 11/15/2043 (k) | 1884 | 199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 326, Class S2, IF, IO, 1.49%, 3/15/2044 (k) | 2271 | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 336, Class S1, IF, IO, 1.59%, 8/15/2044 (k) | 1572 | 164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 337, Class S1, IF, IO, 1.59%, 9/15/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 356, Class S5, IF, IO, 1.54%, 9/15/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 846 |
| &nbsp;&nbsp;&nbsp; First Horizon Alternative Mortgage Securities Trust Series 2006-FA6, Class 3A1, 5.75%, 11/25/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| &nbsp;&nbsp;&nbsp; FNMA, Connecticut Avenue Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C01, Class 1B1, 10.26%, 7/25/2029 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C02, Class 2B1, 10.01%, 9/25/2029 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R02, Class 2B2, 10.51%, 11/25/2041 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4471 |
| &nbsp;&nbsp;&nbsp; FNMA, REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2011-126, Class SM, IF, IO, 1.44%, 12/25/2041 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-20, Class SL, IF, IO, 1.94%, 3/25/2042 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-35, Class SN, IF, IO, 1.94%, 4/25/2042 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-75, Class DS, IF, IO, 1.44%, 7/25/2042 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-128, Class MS, IF, IO, 1.64%, 11/25/2042 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-124, Class SB, IF, IO, 1.44%, 12/25/2043 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-136, Class SB, IF, IO, 1.39%, 1/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-35, Class SA, IF, IO, 1.09%, 6/25/2045 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-37, Class ST, IF, IO, 1.11%, 6/25/2045 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-1, Class SJ, IF, IO, 1.64%, 2/25/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-77, Class SA, IF, IO, 1.49%, 10/25/2046 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1, Class SA, IF, IO, 1.54%, 2/25/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-16, Class SM, IF, IO, 1.54%, 3/25/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-37, Class AS, IF, IO, 1.59%, 5/25/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-14, Class SA, IF, IO, 1.69%, 3/25/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-15, Class JS, IF, IO, 1.69%, 3/25/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-16, Class SN, IF, IO, 1.74%, 3/25/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-27, Class SE, IF, IO, 1.69%, 5/25/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-60, Class SK, IF, IO, 1.19%, 8/25/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-73, Class SC, IF, IO, 1.69%, 10/25/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-9, Class SM, IF, IO, 1.54%, 3/25/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-20, Class BS, IF, IO, 1.54%, 5/25/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; FWD Securitization Trust Series 2020-INV1, Class A1, 2.24%, 1/25/2050 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1458 |
| &nbsp;&nbsp;&nbsp; GCAT Trust Series 2020-NQM1, Class B1, 3.64%, 1/25/2060 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2335 |
| &nbsp;&nbsp;&nbsp; GMACM Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR2, Class 3A, 3.97%, 8/19/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR1, Class 3A, 3.22%, 3/18/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-25, Class HS, IF, IO, 1.61%, 2/20/2044 (k) | 2061 | 227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-124, Class SB, IF, IO, 1.76%, 9/20/2045 (k) | 3526 | 433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-149, Class GS, IF, IO, 1.76%, 10/20/2045 (k) | 3679 | 479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-111, Class SA, IF, IO, 1.61%, 8/20/2046 (k) | 1787 | 204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-120, Class NS, IF, IO, 1.61%, 9/20/2046 (k) | 5042 | 668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-11, Class AS, IF, IO, 1.61%, 1/20/2047 (k) | 2026 | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-55, Class AS, IF, IO, 1.66%, 4/20/2047 (k) | 1212 | 140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-56, Class SC, IF, IO, 1.66%, 4/20/2047 (k) | 2680 | 342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-68, Class SA, IF, IO, 1.66%, 5/20/2047 (k) | 2775 | 333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-75, Class SD, IF, IO, 1.71%, 5/20/2047 (k) | 1019 | 114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-80, Class AS, IF, IO, 1.71%, 5/20/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-93, Class SE, IF, IO, 1.71%, 6/20/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-107, Class SL, IF, IO, 1.71%, 7/20/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-120, Class QS, IF, IO, 1.71%, 8/20/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-134, Class SB, IF, IO, 1.71%, 9/20/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-141, Class QS, IF, IO, 1.71%, 9/20/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-149, Class QS, IF, IO, 1.71%, 10/20/2047 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1, Class ST, IF, IO, 1.71%, 1/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-11, Class SA, IF, IO, 1.71%, 1/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-6, Class CS, IF, IO, 1.71%, 1/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-63, Class SB, IF, IO, 1.71%, 4/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-64, Class GS, IF, IO, 1.71%, 5/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-65, Class SE, IF, IO, 1.71%, 5/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-92, Class SH, IF, IO, 1.71%, 7/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-115, Class DS, IF, IO, 1.71%, 8/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-126, Class CS, IF, IO, 1.71%, 9/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-146, Class S, IF, IO, 1.66%, 10/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-147, Class SD, IF, IO, 1.66%, 10/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-168, Class SA, IF, IO, 1.61%, 12/20/2048 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-16, Class SB, IF, IO, 1.56%, 2/20/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-23, Class JS, IF, IO, 1.56%, 2/20/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-30, Class SA, IF, IO, 1.56%, 3/20/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-38, Class SN, IF, IO, 1.56%, 3/20/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-41, Class CS, IF, IO, 1.56%, 3/20/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-69, Class DS, IF, IO, 1.61%, 6/20/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-70, Class SM, IF, IO, 1.61%, 6/20/2049 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-76, Class SL, IF, IO, 1.66%, 5/20/2050 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 534 |
| &nbsp;&nbsp;&nbsp; GSMSC Pass-Through Trust Series 2008-2R, Class 2A1, 7.50%, 10/25/2036 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; GSR Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-15F, Class 1A2, 5.50%, 12/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1F, Class 2A3, 6.00%, 2/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR3, Class 6A1, 3.20%, 5/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR4, Class 3A5, 3.47%, 7/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6F, Class 3A18, 5.50%, 7/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR7, Class 6A1, 3.71%, 11/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1F, Class 2A16, 6.00%, 2/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1F, Class 2A9, 6.00%, 2/25/2036 | 841 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-9F, Class 3A1, 6.25%, 10/25/2036 | 393 | 354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1F, Class 3A13, 6.00%, 1/25/2037 | 212 | 142 |
| &nbsp;&nbsp;&nbsp; HarborView Mortgage Loan Trust Series 2005-11, Class 2A1A, 5.09%, 8/19/2045 (k) | 138 | 125 |
| &nbsp;&nbsp;&nbsp; Impac CMB Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-5, Class 1A1, 5.23%, 10/25/2034 (k) | 235 | 225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-6, Class 1A2, 5.29%, 10/25/2034 (k) |  | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-5, Class 1M2, 5.38%, 10/25/2034 (k) | 86 | 80 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-7, Class 1A2, 5.43%, 11/25/2034 (k) | 252 | 247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-9, Class 1A1, 5.27%, 1/25/2035 (k) |  | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-10, Class 2A, 5.15%, 3/25/2035 (k) | 363 | 319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-10, Class 3A1, 5.21%, 3/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1, Class 1A1, 5.03%, 4/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1, Class 1A2, 5.13%, 4/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class 1A2, 5.13%, 4/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp; Impac Secured Assets CMN Owner Trust Series 2003-2, Class A4, 3.75%, 8/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp; Impac Secured Assets Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class A1B, 4.99%, 9/25/2037 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class A1C, 5.23%, 9/25/2037 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2113 |
| &nbsp;&nbsp;&nbsp; IndyMac INDX Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR3, Class 3A1, 2.77%, 4/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR14, Class 2A1A, 5.11%, 7/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR21, Class 6A1, 3.24%, 9/25/2037 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3247 |
| &nbsp;&nbsp;&nbsp; JPMorgan Alternative Loan Trust Series 2006-A2, Class 1A1, 4.87%, 5/25/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2001 |
| &nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S3, Class 2A4, 5.50%, 8/25/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-A6, Class 1A1, 3.25%, 12/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A3, Class 6A6, 3.08%, 6/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A6, Class 1A2, 4.11%, 9/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A8, Class 1A1, 3.76%, 11/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A8, Class 4A1, 3.87%, 11/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A7, Class 2A4, 3.85%, 1/25/2037 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-S1, Class 2A17, 4.84%, 3/25/2037 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1033 |
| &nbsp;&nbsp;&nbsp; Legacy Mortgage Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GS3, Class A2, 3.25%, 7/25/2061 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GS1, Class A2, 3.84%, 10/25/2066 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1796 |
| &nbsp;&nbsp;&nbsp; Lehman Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class 2A5, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-7, Class 5A7, 6.50%, 8/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3470 |
| &nbsp;&nbsp;&nbsp; MASTR Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-8, Class 1A1, 6.50%, 9/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-12, Class 3A1, 6.00%, 12/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3, Class 1A1, 5.50%, 4/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-5, Class 3A1, 5.75%, 8/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6, Class 1A2, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1, Class 2A2, 3.17%, 4/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1, Class 2A1, 3.46%, 2/25/2036 (k) | 692 | 661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AF2, Class AF2, 6.25%, 10/25/2036 | 175 | 85 |
| &nbsp;&nbsp;&nbsp; Metlife Securitization Trust Series 2017-1A, Class A, 3.00%, 4/25/2055 (c) (k) | 2409 | 2284 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-2, Class 1A, 5.25%, 2/25/2021 | 264 | 235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-9, Class 1A, 5.37%, 11/25/2034 (k) | 389 | 394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4, Class 1A, 5.00%, 8/25/2035 | 20 | 19 |
| &nbsp;&nbsp;&nbsp; MortgageIT Trust Series 2005-3, Class A1, 5.11%, 8/25/2035 (k) |  | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-NQM4, Class B1, 3.74%, 9/25/2059 (c) (k) | 2500 | 2043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-NQM4, Class B2, 4.87%, 9/25/2059 (c) (k) | 4000 | 3405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-NQM5, Class B1, 4.04%, 11/25/2059 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1695 |
| &nbsp;&nbsp;&nbsp; Nomura Asset Acceptance Corp. Alternative Loan Trust Series 2005-WF1, Class 2A5, 5.66%, 3/25/2035 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp; PNMAC GMSR Issuer Trust Series 2018-GT1, Class A, 7.36%, 2/25/2023 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3648 |
| &nbsp;&nbsp;&nbsp; PRET LLC Series 2022-NPL4, Class A1, 6.56%, 8/25/2052 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9254 |
| &nbsp;&nbsp;&nbsp; PRPM 3.77%, 3/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4467 |
| &nbsp;&nbsp;&nbsp; PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4, Class A2, 3.44%, 10/25/2025 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-6, Class A2, 4.70%, 11/25/2025 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1, Class A2, 3.72%, 1/25/2026 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class A2, 3.72%, 4/25/2026 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class A2, 3.72%, 6/25/2026 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-6, Class A2, 3.47%, 7/25/2026 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-7, Class A2, 3.67%, 8/25/2026 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-8, Class A2, 3.60%, 9/25/2026 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-10, Class A2, 4.83%, 10/25/2026 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-11, Class A2, 4.58%, 11/25/2026 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4894 |
| &nbsp;&nbsp;&nbsp; RALI Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-QS20, Class CB, 5.00%, 11/25/2018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-QA5, Class A2, 4.17%, 4/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-QS17, Class A3, 6.00%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS3, Class 1A10, 6.00%, 3/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS4, Class A2, 6.00%, 4/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS17, Class A5, 6.00%, 12/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1237 |
| &nbsp;&nbsp;&nbsp; Residential Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A8CB, Class A11, 6.00%, 7/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A14, Class A1, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A8, Class 3A1, 6.00%, 8/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A5, Class 2A2, 6.00%, 5/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3675 |
| &nbsp;&nbsp;&nbsp; RFMSI Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-S9, Class 2A1, 4.75%, 12/25/2019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-S7, Class A6, 5.50%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S10, Class 1A1, 6.00%, 10/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-SA4, Class 2A1, 5.16%, 11/25/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742 |
| &nbsp;&nbsp;&nbsp; Seasoned Credit Risk Transfer Trust Series 2017-3, Class A, IO, 0.00%, 7/25/2056 (k) | &nbsp;&nbsp;&nbsp; 191459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp; Sequoia Mortgage Trust Series 2007-3, Class 1A1, 4.89%, 7/20/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class B1, 3.73%, 2/25/2050 (c) (k) | 5410 | 4423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-INV1, Class B2, 4.26%, 11/25/2055 (c) | 1600 | 1354 |
| &nbsp;&nbsp;&nbsp; Structured Adjustable Rate Mortgage Loan Trust Series 2005-1, Class 1A1, 3.80%, 2/25/2035 (k) | 195 | 179 |
| &nbsp;&nbsp;&nbsp; Structured Asset Mortgage Investments II Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR3, Class 1A1, 5.05%, 8/25/2035 (k) | 1945 | 1689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR7, Class 1A1, 5.36%, 5/25/2047 (k) | 2765 | 2206 |
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-INV2, Class B1, 4.45%, 7/25/2059 (c) (k) | 2000 | 1688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-INV3, Class B1, 3.73%, 11/25/2059 (c) (k) | 5000 | 4195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R1, Class B1, 3.20%, 10/25/2063 (c) (k) | 2000 | 1573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R1, Class B2, 4.20%, 10/25/2063 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R3, Class B1, 3.07%, 4/25/2064 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R3, Class B2, 4.07%, 4/25/2064 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-5, Class B1, 3.71%, 5/25/2065 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-5, Class B2, 4.71%, 5/25/2065 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1, Class B1, 2.98%, 1/25/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4, Class M1, 2.19%, 7/25/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class B1, 3.04%, 9/25/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class B2, 3.94%, 9/25/2066 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2221 |
| &nbsp;&nbsp;&nbsp; WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR11, Class A, 4.14%, 10/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5, Class A6, 3.31%, 5/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR16, Class 1A1, 3.85%, 12/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR14, Class 1A3, 3.89%, 12/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR14, Class 1A4, 3.89%, 12/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR18, Class 1A3A, 3.97%, 1/25/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR2, Class 1A1, 3.50%, 3/25/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR10, Class A1B, 5.35%, 7/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR15, Class A1A1, 5.03%, 11/25/2045 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp; Washington Mutual Mortgage Pass-Through Certificates WMALT Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1, Class 1A3, 5.50%, 3/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4, Class CB7, 5.50%, 6/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 2A5, 5.75%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 4CB1, 5.75%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5, Class 2CB5, 6.50%, 7/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1, Class 1A7, 5.11%, 2/25/2037 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1750 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR19, Class A3, 4.56%, 12/25/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-15, Class A1, 6.00%, 11/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 389173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Collateralized Mortgage Obligations <br>(Cost $471,386)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 392169 |
| **Loan Assignments — 2.2%** (f) (n) | **Loan Assignments — 2.2%** (f) (n) | **Loan Assignments — 2.2%** (f) (n) |
| **Canada — 0.0% ^** | **Canada — 0.0% ^** | **Canada — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; WestJet Airlines Ltd., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.00%), 7.51%, 12/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **France — 0.0% ^** | **France — 0.0% ^** | **France — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Altice France SA, 1st Lien Term Loan B-13 (ICE LIBOR USD 3 Month + 4.00%), 8.65%, 8/14/2026 | 2640 | 2541 |
| &nbsp;&nbsp;&nbsp; Numericable US LLC, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.69%), 8.52%, 1/31/2026 | 430 | 413 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2954 |
| **Ireland — 0.0% ^** | **Ireland — 0.0% ^** | **Ireland — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Flutter Entertainment plc, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.25%), 8.09%, 7/22/2028 | 413 | 414 |
| &nbsp;&nbsp;&nbsp; ICON Luxembourg SARL, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 2.25%), 7.00%, 7/3/2028 | 106 | 106 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 520 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| &nbsp;&nbsp;&nbsp; ICON Luxembourg SARL, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 2.25%), 7.00%, 7/3/2028 | 427 | 427 |
| &nbsp;&nbsp;&nbsp; Ineos US Finance LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.50%), 6.92%, 11/8/2028 | 496 | 494 |
| &nbsp;&nbsp;&nbsp; Nestle Skin Health SA, Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 8.48%, 10/1/2026 | 9238 | 9041 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9962 |
| **Netherlands — 0.0% ^** | **Netherlands — 0.0% ^** | **Netherlands — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Commscope, Inc., 1st Lien Term Loan B-2 (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 4/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 |
| **United States — 2.1%** | **United States — 2.1%** | **United States — 2.1%** |
| &nbsp;&nbsp;&nbsp; Adient US LLC, Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 4/10/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5384 |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.25%), 6.68%, 7/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp; AHP Health Partners, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 8/24/2028 (o) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 |
| &nbsp;&nbsp;&nbsp; Albany Molecular Research, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 3.75%), 8.16%, 8/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 504 |
| &nbsp;&nbsp;&nbsp; Alliance Laundry Systems LLC, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.50%), 8.31%, 10/8/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1201 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 8.41%, 5/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494 |
| &nbsp;&nbsp;&nbsp; Altice Financing S.A., 1st Lien Term Loan B (3-MONTH SOFR + 5.00%), 9.57%, 10/28/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp; Ancestry.com, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 12/6/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 |
| &nbsp;&nbsp;&nbsp; API Group DE, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 2.50%), 6.88%, 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 746 |
| &nbsp;&nbsp;&nbsp; AppleCaramel Buyer LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 8.31%, 10/19/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7913 |
| &nbsp;&nbsp;&nbsp; Astoria Energy LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 12/10/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 7/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 1st Lien Term Loan B-3 (ICE LIBOR USD 1 Month + 5.25%), 9.82%, 1/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, Term Loan B-10 (3-MONTH CME TERM SOFR + 4.00%), 8.68%, 8/19/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, Term Loan B-7 (ICE LIBOR USD 1 Month + 3.00%), 7.57%, 11/3/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.25%), 6.82%, 11/8/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 530 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems US Holdings, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.00%), 7.51%, 12/20/2029 (o) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 527 |
| &nbsp;&nbsp;&nbsp; AZZ Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 4.25%), 8.80%, 5/13/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.50%), 6.88%, 10/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp; Banijay Entertainment, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.75%), 8.12%, 3/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 5.25%), 9.83%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 456 |
| &nbsp;&nbsp;&nbsp; Birkenstock, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.25%), 7.69%, 4/28/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp; Brookfield WEC Holdings, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 2.75%), 7.32%, 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 880 |
| &nbsp;&nbsp;&nbsp; Brooks Automation, 1st Lien Term Loan B (1-MONTH SOFR + 3.10%; 6-MONTH SOFR + 3.10%), 6.61%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1215 |
| &nbsp;&nbsp;&nbsp; Brooks Automation, 2nd Lien Term Loan (1-MONTH SOFR + 5.60%), 10.51%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP, 1st Lien Term Loan B-1 (ICE LIBOR USD 1 Month + 2.25%), 6.63%, 11/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 668 |
| &nbsp;&nbsp;&nbsp; Bway Holding Co., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.25%), 7.62%, 4/3/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6882 |
| &nbsp;&nbsp;&nbsp; Cabinetworks, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 4.25%), 8.98%, 5/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4552 |
| &nbsp;&nbsp;&nbsp; Caesars Resort Collection LLC, 1st Lien Term Loan B (1 WEEK LIBOR + 2.75%), 7.32%, 12/23/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 962 |
| &nbsp;&nbsp;&nbsp; Calpine Construction Finance Co. LP, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 2.00%), 6.57%, 1/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Camelot Finance LP, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.00%), 7.52%, 10/30/2026 | 893 | 892 |
| &nbsp;&nbsp;&nbsp; Carroll County Energy LLC, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.50%), 8.23%, 2/16/2026 | 274 | 261 |
| &nbsp;&nbsp;&nbsp; CenturyLink, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.25%), 6.82%, 3/15/2027 | 279 | 270 |
| &nbsp;&nbsp;&nbsp; Chamberlain Group LLC (The), 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 11/3/2028 | 550 | 530 |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC, 1st Lien Term Loan B-2 (ICE LIBOR USD 1 Month + 1.75%), 6.32%, 2/1/2027 (o) | 997 | 993 |
| &nbsp;&nbsp;&nbsp; Ciena Corporation, 1st Lien Term Loan B (3-MONTH SOFR + 2.75%), 6.98%, 1/18/2030 (o) | 525 | 524 |
| &nbsp;&nbsp;&nbsp; Cincinnati Bell, Inc., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 3.25%), 7.91%, 11/22/2028 | 583 | 579 |
| &nbsp;&nbsp;&nbsp; Claire's Stores, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 6.50%), 11.07%, 12/18/2026 (p) | 1800 | 1656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%; ICE LIBOR USD 3 Month + 3.50%), <br> 8.32%, 8/21/2026 (o)<br>| 1842 | 1749 |
| &nbsp;&nbsp;&nbsp; Conair Holdings LLC, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 8.48%, 5/17/2028 | 765 | 655 |
| &nbsp;&nbsp;&nbsp; Conservice Midco LLC, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 4.25%), 8.82%, 5/13/2027 | 440 | 435 |
| &nbsp;&nbsp;&nbsp; Consilio, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 4.00%), 8.57%, 5/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 754 |
| &nbsp;&nbsp;&nbsp; Cortes NP Acquisition Corp., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.75%), 7.12%, 3/2/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 825 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Term Loan B-6 (1-MONTH CME TERM SOFR + 4.50%), 8.82%, 1/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1473 |
| &nbsp;&nbsp;&nbsp; CVS Holdings, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 4.25%), 8.82%, 8/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 1.75%), 6.32%, 8/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 624 |
| &nbsp;&nbsp;&nbsp; DexKo Global, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.75%), 8.48%, 10/4/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5168 |
| &nbsp;&nbsp;&nbsp; Diamond Sports Group LLC, 2nd Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 8.03%, 8/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; DigiCert, Inc., 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 1 Month + 4.00%), 8.70%, 10/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 6 Month + 7.00%), 11.70%, 2/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp; DIRECTV Financing LLC, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 5.00%), 9.57%, 8/2/2027 (o) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7995 |
| &nbsp;&nbsp;&nbsp; Duff & Phelps Corp., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 8.31%, 4/9/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp; E.W. Scripps Co. (The), 1st Lien Term Loan B-3 (ICE LIBOR USD 1 Month + 2.75%), 7.32%, 1/7/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 911 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 1.75%), 6.12%, 8/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 763 |
| &nbsp;&nbsp;&nbsp; Endo Pharmaceuticals, Inc., 1st Lien Term Loan B (1-MONTH PRIME + 6.00%), 13.50%, 3/27/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp; Ensemble RCM LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.75%), 7.94%, 8/3/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entegris, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.00%; 3-MONTH CME TERM SOFR + 3.00%), 7.58%, <br> 7/6/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 |
| &nbsp;&nbsp;&nbsp; Envision Healthcare Corp., 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 3.75%), 8.33%, 3/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 4.25%), 8.83%, 3/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; EPIC Crude Services LP, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 5.00%), 9.74%, 3/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8998 |
| &nbsp;&nbsp;&nbsp; Exelon Corp., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 2.50%), 7.24%, 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 727 |
| &nbsp;&nbsp;&nbsp; FGI Operating Co. LLC, 1st Lien Term Loan (ICE LIBOR USD 3 Month + 11.00%), 12.00%, 5/16/2023 ‡ (h) (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.00%), 7.73%, 7/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4512 |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc., 1st Lien Term Loan C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 3.00%), 7.73%, 7/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 4.00%), 8.68%, 7/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc., Term Loan B (3-MONTH CME TERM SOFR + 4.00%), 8.68%, 7/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3793 |
| &nbsp;&nbsp;&nbsp; Formula One Holdings Ltd., 1st Lien Term Loan B (3-MONTH SOFR + 3.25%), 7.81%, 1/15/2030 (o) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 827 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 4.25%), 8.93%, 10/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 |
| &nbsp;&nbsp;&nbsp; Gates Global LLC, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 2.50%), 7.07%, 3/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 547 |
| &nbsp;&nbsp;&nbsp; Gates Global LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.50%), 8.06%, 11/16/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp; Gemini HDPE LLC, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.00%), 7.83%, 12/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562 |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 2.00%), 6.73%, 12/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1012 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Genesys Telecom Holdings US, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 4.00%), 8.44%, 12/1/2027 | 5784 | 5672 |
| &nbsp;&nbsp;&nbsp; Getty Images, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 4.50%), 9.13%, 2/19/2026 | 394 | 394 |
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co., Inc., 1st Lien Term Loan B5 (1-MONTH CME TERM SOFR + 3.25%), 7.81%, 11/9/2029 | 450 | 451 |
| &nbsp;&nbsp;&nbsp; GoodRx, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 2.75%), 7.32%, 10/10/2025 | 393 | 387 |
| &nbsp;&nbsp;&nbsp; Graham Packaging Co., Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.00%), 7.57%, 8/4/2027 | 3372 | 3355 |
| &nbsp;&nbsp;&nbsp; Gray Television, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.50%), 6.87%, 1/2/2026 | 362 | 360 |
| &nbsp;&nbsp;&nbsp; Gray Television, Inc., 1st Lien Term Loan D (ICE LIBOR USD 1 Month + 3.00%), 7.37%, 12/1/2028 | 212 | 211 |
| &nbsp;&nbsp;&nbsp; Griffon Corp., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.50%), 7.01%, 1/24/2029 | 474 | 471 |
| &nbsp;&nbsp;&nbsp; Grizzly Acquisitions, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.25%), 8.00%, 10/1/2025 | 459 | 459 |
| &nbsp;&nbsp;&nbsp; Harsco Corp., Term Loan B-3 (1-MONTH CME TERM SOFR + 2.25%), 6.93%, 3/10/2028 | 378 | 361 |
| &nbsp;&nbsp;&nbsp; Hercules Achievement, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 12/16/2024 | 269 | 266 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The), 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 6/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 666 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The), 1st Lien Term Loan C (ICE LIBOR USD 1 Month + 3.25%), 7.63%, 6/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp; Holley, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 8.43%, 11/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.00%), 7.82%, 4/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517 |
| &nbsp;&nbsp;&nbsp; Hyland Software, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 7/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.00%), 7.57%, 5/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4009 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc., Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 5/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp; INEOS Enterprises Holdings Ltd., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.50%), 8.23%, 8/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp; INEOS US Petrochem LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.75%), 7.32%, 1/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp; Ingram Micro, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.50%), 8.23%, 6/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 |
| &nbsp;&nbsp;&nbsp; Insulet Corp., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.25%), 7.69%, 5/4/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 965 |
| &nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings SA, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.25%), 7.44%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 768 |
| &nbsp;&nbsp;&nbsp; Interior Logic Group, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 4/3/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343 |
| &nbsp;&nbsp;&nbsp; Intrado Corporation, 1st Lien Term Loan B (3-MONTH SOFR + 4.00%), 4.50%, 1/31/2030 (o) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp; Invenergy Thermal Operating I LLC, Term Loan (1-MONTH CME TERM SOFR + 3.75%), 8.43%, 8/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; ION Corp., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 8.17%, 3/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp; IRB Holding Corp., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.75%), 7.32%, 2/5/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 781 |
| &nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals plc, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 5/5/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp; KDC US Holdings, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.75%), 8.32%, 12/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511 |
| &nbsp;&nbsp;&nbsp; LABL, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 5.00%), 9.57%, 10/29/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4669 |
| &nbsp;&nbsp;&nbsp; LegalShield, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.75%), 8.32%, 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp; Leslie's Poolmart, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 2.50%), 6.57%, 3/9/2028 (o) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 790 |
| &nbsp;&nbsp;&nbsp; LifePoint Health, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 8.58%, 11/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp; LogMeIn, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 4.75%), 9.30%, 8/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC, 1st Lien Term Loan (ICE LIBOR USD 3 Month + 3.25%), 7.99%, 6/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4475 |
| &nbsp;&nbsp;&nbsp; Medallion Midland Acquisition LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.75%), 8.59%, 10/18/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 10/23/2028 (o) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3347 |
| &nbsp;&nbsp;&nbsp; MH Sub I LLC, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.75%), 8.32%, 9/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 709 |
| &nbsp;&nbsp;&nbsp; MI Windows & Doors, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.50%), 8.16%, 12/18/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp; Mirion Technologies, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 2.75%), 7.48%, 10/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp; Moran Foods, LLC, 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH SOFR + 7.25%), 11.93%, 6/30/2026 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH SOFR + 7.25%), 11.93%, 6/30/2026 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 787 |
| &nbsp;&nbsp;&nbsp; Moran Foods, LLC, 2nd Lien Term Loan (3-MONTH CME TERM SOFR + 9.50%), 14.18%, 12/31/2026 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1090 |
| &nbsp;&nbsp;&nbsp; NAI Entertainment Holdings LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.50%), 7.07%, 5/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp; Netsmart Technologies, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 4.00%), 8.38%, 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Nexstar Broadcasting, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.50%), 7.07%, 9/18/2026 | 454 | 454 |
| &nbsp;&nbsp;&nbsp; Nielsen Holdings plc, Term Loan B-3 (ICE LIBOR USD 1 Month + 3.75%), 8.32%, 3/6/2028 | 382 | 338 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.75%), 7.32%, 10/27/2028 | 604 | 603 |
| &nbsp;&nbsp;&nbsp; Osmose Holdings, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 6/23/2028 | 713 | 685 |
| &nbsp;&nbsp;&nbsp; Pactiv Evergreen Group Holdings, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 9/24/2028 | 311 | 310 |
| &nbsp;&nbsp;&nbsp; PAREXEL International Corp., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.25%), 7.63%, 11/15/2028 | 4887 | 4843 |
| &nbsp;&nbsp;&nbsp; Pathway Vet Alliance LLC, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.75%), 8.32%, 3/31/2027 | 431 | 358 |
| &nbsp;&nbsp;&nbsp; PCI Pharma Services, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 3.50%), 8.23%, 11/30/2027 | 697 | 683 |
| &nbsp;&nbsp;&nbsp; Pearl Intermediate Parent LLC, 1st Lien Term Loan B-3 (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 2/14/2025 | 298 | 282 |
| &nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc., Term Loan B (1-MONTH CME TERM SOFR + 3.25%), 8.09%, 3/3/2028 (o) | 6623 | 6548 |
| &nbsp;&nbsp;&nbsp; PetVet Care Centers LLC, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 2/14/2025 | 541 | 512 |
| &nbsp;&nbsp;&nbsp; PG&E Corp., Exit Term Loan (ICE LIBOR USD 1 Month + 3.00%), 7.63%, 6/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp; Pike Corp., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.50%), 8.06%, 1/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp; Pike Corp., Delayed Draw Term Loan B (ICE LIBOR USD 1 Month + 3.00%), 7.57%, 1/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753 |
| &nbsp;&nbsp;&nbsp; PQ Corp., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 2.50%), 7.33%, 6/9/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 2.75%), 7.52%, 9/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1120 |
| &nbsp;&nbsp;&nbsp; PrimeSource, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.25%), 8.00%, 12/28/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2334 |
| &nbsp;&nbsp;&nbsp; Project Boost Purchaser LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 681 |
| &nbsp;&nbsp;&nbsp; Proofpoint, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.25%), 7.98%, 8/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 417 |
| &nbsp;&nbsp;&nbsp; Pure Fishing, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 4.50%), 9.07%, 12/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 11396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7789 |
| &nbsp;&nbsp;&nbsp; Quest Software US Holdings, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 4.25%), 9.08%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.00%), 7.57%, 3/18/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 493 |
| &nbsp;&nbsp;&nbsp; Radiology Partners, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 4.25%), 8.80%, 7/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475 |
| &nbsp;&nbsp;&nbsp; RealPage, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.00%), 7.38%, 4/24/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524 |
| &nbsp;&nbsp;&nbsp; Red Ventures LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.50%), 7.07%, 11/8/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp; Reynolds Group Holdings, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.25%), 7.63%, 2/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp; Ring Container Technologies LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 8/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426 |
| &nbsp;&nbsp;&nbsp; Sabre Holdings Corp., 1st Lien Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 12/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 12/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp; Samsonite International SA, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 1.75%), 6.32%, 4/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp; Shearer's Foods LLC, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 9/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp; Shutterfly, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 5.00%), 9.38%, 9/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1729 |
| &nbsp;&nbsp;&nbsp; Spirit Aerosystems, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 4.50%), 9.18%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp; SPX Flow, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 4.50%), 9.16%, 4/5/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2922 |
| &nbsp;&nbsp;&nbsp; SRS Distribution, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.50%), 8.16%, 6/2/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 417 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies Holdings, Inc., 1st Lien Term Loan B-3 (ICE LIBOR USD 1 Month + 1.75%), 6.32%, 4/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies Holdings, Inc., 1st Lien Term Loan B-4 (ICE LIBOR USD 1 Month + 1.75%), 6.32%, 4/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp; St. George's University Scholastic Services LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.79%, 2/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 523 |
| &nbsp;&nbsp;&nbsp; Staples, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 5.00%), 7.78%, 4/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1175 |
| &nbsp;&nbsp;&nbsp; Star Merger Sub, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.77%, 2/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695 |
| &nbsp;&nbsp;&nbsp; Summer (BC) Holdco B SARL, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 4.50%), 9.23%, 12/4/2026 (o) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp; Sundyne, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 4.25%), 8.98%, 3/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 593 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 2.25%), 7.40%, 12/2/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 754 |
| &nbsp;&nbsp;&nbsp; Team Health Holdings, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 5.25%), 9.81%, 3/2/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp; Tekni-Plex, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 4.00%), 8.73%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp; ThoughtWorks, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 2.50%), 7.07%, 3/24/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Thyssenkrupp Elevator, 1st Lien Term Loan B-1 (ICE LIBOR USD 6 Month + 3.50%), 6.87%, 7/30/2027 | 2713 | 2661 |
| &nbsp;&nbsp;&nbsp; Titan Acquisition Ltd., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.00%), 8.15%, 3/28/2025 | 5783 | 5630 |
| &nbsp;&nbsp;&nbsp; Traeger Grills, 1st Lien Term Loan (ICE LIBOR USD 3 Month + 3.25%), 8.08%, 6/29/2028 | 311 | 247 |
| &nbsp;&nbsp;&nbsp; Trans Union LLC, Term Loan B-6 (ICE LIBOR USD 1 Month + 2.25%), 6.82%, 12/1/2028 (o) | 545 | 544 |
| &nbsp;&nbsp;&nbsp; TransDigm Group, Inc., 1st Lien Term Loan E (ICE LIBOR USD 1 Month + 2.25%), 5.92%, 5/30/2025 | 417 | 416 |
| &nbsp;&nbsp;&nbsp; TransDigm Group, Inc., 1st Lien Term Loan F (ICE LIBOR USD 1 Month + 2.25%), 6.98%, 12/9/2025 | 1470 | 1466 |
| &nbsp;&nbsp;&nbsp; TransDigm Group, Inc., 1st Lien Term Loan H (3-MONTH CME TERM SOFR + 3.25%), 7.83%, 2/22/2027 | 250 | 250 |
| &nbsp;&nbsp;&nbsp; Trinseo Materials Operating SCA, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.00%), 6.57%, 9/6/2024 | 533 | 519 |
| &nbsp;&nbsp;&nbsp; Triton Water Holdings, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.50%), 8.23%, 3/31/2028 | 4023 | 3824 |
| &nbsp;&nbsp;&nbsp; Tropicana, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 7.93%, 1/24/2029 | 313 | 288 |
| &nbsp;&nbsp;&nbsp; Truck Hero, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.75%), 8.32%, 1/31/2028 | 387 | 347 |
| &nbsp;&nbsp;&nbsp; U.S. Renal Care, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 5.00%), 9.44%, 6/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2346 |
| &nbsp;&nbsp;&nbsp; UFC Holdings LLC, 1st Lien Term Loan B-3 (ICE LIBOR USD 3 Month + 2.75%), 7.57%, 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp; Ultimate Software Group, Inc. (The), 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 3.25%), 8.03%, 5/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 3.75%), 8.58%, 5/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp; Ultra Resources, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 7.06%, 8/3/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 |
| &nbsp;&nbsp;&nbsp; United Airlines, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 5.25%), 10.00%, 6/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562 |
| &nbsp;&nbsp;&nbsp; United Natural Foods, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.25%), 7.93%, 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1233 |
| &nbsp;&nbsp;&nbsp; Univision Communications, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 773 |
| &nbsp;&nbsp;&nbsp; USI, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.75%), 8.33%, 11/22/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533 |
| &nbsp;&nbsp;&nbsp; Utz Quality Foods LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.00%), 7.67%, 1/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp; Vertex Aerospace Services Corp., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 8.07%, 12/6/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 468 |
| &nbsp;&nbsp;&nbsp; Virtusa Corp., 1st Lien Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 1 Month + 3.75%), 8.32%, 2/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 3.75%), 8.41%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp; Whataburger, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.82%, 8/3/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 793 |
| &nbsp;&nbsp;&nbsp; Wheel Pros, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 4.50%), 9.32%, 5/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp; WhiteWater Whistler Holdings, 1st Lien Term Loan B (3-MONTH SOFR + 3.25%), 3.25%, 1/25/2030 (o) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 574 |
| &nbsp;&nbsp;&nbsp; WIRB-Copernicus Group, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 4.00%), 8.57%, 1/8/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 760 |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp., 1st Lien Term Loan G (ICE LIBOR USD 1 Month + 2.13%), 6.69%, 1/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 882 |
| &nbsp;&nbsp;&nbsp; Zekelman Industries, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 2.00%), 6.73%, 1/24/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 212027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Loan Assignments <br>(Cost $240,265)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 226738 |
| **Asset-Backed Securities — 1.4%** | **Asset-Backed Securities — 1.4%** | **Asset-Backed Securities — 1.4%** |
| **Cayman Islands — 0.0% ^** | **Cayman Islands — 0.0% ^** | **Cayman Islands — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; BlueMountain CLO Ltd. Series 2018-3A, Class D, 8.07%, 10/25/2030 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 594 |
| &nbsp;&nbsp;&nbsp; CARLYLE US CLO Ltd. Series 2018-1A, Class A1, 5.83%, 4/20/2031 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2030 |
| &nbsp;&nbsp;&nbsp; Voya CLO Ltd. Series 2016-3A, Class CR, 8.04%, 10/18/2031 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3085 |
| **United States — 1.4%** | **United States — 1.4%** | **United States — 1.4%** |
| &nbsp;&nbsp;&nbsp; ABFC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-OPT1, Class A1A, 5.33%, 4/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-OPT3, Class M1, 5.26%, 9/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE1, Class M1, 5.41%, 3/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 567 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Accredited Mortgage Loan Trust Series 2004-4, Class M1, 5.38%, 1/25/2035 (k) | 447 | 413 |
| &nbsp;&nbsp;&nbsp; ACE Securities Corp. Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-FM1, Class M1, 5.80%, 11/25/2032 (k) | 431 | 427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-OP1, Class M2, 6.08%, 4/25/2034 (k) | 1620 | 1561 |
| &nbsp;&nbsp;&nbsp; Affirm Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-Z2, Class A, 1.17%, 11/16/2026 (c) | 2607 | 2501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-A, Class 1E, 8.04%, 5/17/2027 (c) | 1060 | 1002 |
| &nbsp;&nbsp;&nbsp; American Credit Acceptance Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-4, Class E, 3.85%, 12/12/2025 (c) | 2000 | 1963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3, Class F, 5.42%, 5/12/2026 (c) | 1210 | 1200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2, Class F, 5.81%, 6/12/2026 (c) | 510 | 508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class E, 2.54%, 7/13/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class D, 1.34%, 11/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class E, 3.64%, 3/13/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1260 |
| &nbsp;&nbsp;&nbsp; Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates Series 2002-AR1, Class M1, 5.57%, 9/25/2032 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities Corp. Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE2, Class M2, 6.38%, 4/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE7, Class M2, 6.08%, 10/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HE6, Class M4, 5.47%, 7/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Bear Stearns Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-SD1, Class M1, 5.78%, 12/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-1, Class M1, 6.16%, 11/25/2042 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-SD4, Class A1, 5.41%, 8/25/2044 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 613 |
| &nbsp;&nbsp;&nbsp; Centex Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-C, Class M2, 5.30%, 6/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-D, Class MV2, 5.20%, 9/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-D, Class MF2, 5.56%, 9/25/2034 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-D, Class MF3, 5.76%, 9/25/2034 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1536 |
| &nbsp;&nbsp;&nbsp; Chase Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-5, Class 1M2, 5.64%, 9/25/2032 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-1, Class 1M1, 4.73%, 5/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-4, Class 1A5, 4.88%, 5/25/2033 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-1, Class 2M1, 5.26%, 9/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class 1M1, 5.70%, 2/26/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1707 |
| &nbsp;&nbsp;&nbsp; CHEC Loan Trust Series 2004-1, Class M1, 5.41%, 7/25/2034 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 543 |
| &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-OPT1, Class M4, 5.56%, 2/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-WF2, Class AF7, 5.75%, 8/25/2035 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp; Conn's Receivables Funding LLC Series 2022-A, Class B, 9.52%, 12/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 998 |
| &nbsp;&nbsp;&nbsp; Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2020-9, Class PT, 8.32%, 4/15/2045 ‡ (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 802 |
| &nbsp;&nbsp;&nbsp; Countrywide Asset-Backed Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-3, Class M1, 5.26%, 6/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-3, Class M2, 5.33%, 6/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-ECC2, Class M2, 5.48%, 12/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp; Countrywide Partnership Trust Series 2004-EC1, Class M2, 5.45%, 1/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A, Class A, 6.57%, 10/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A, Class D, 9.00%, 4/18/2033 (c) | 1000 | 992 |
| &nbsp;&nbsp;&nbsp; CWABS Asset-Backed Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11, Class AF6, 5.05%, 2/25/2036 (k) | 65 | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AB4, Class 2A1, 5.05%, 3/25/2036 (k) | 1108 | 1016 |
| &nbsp;&nbsp;&nbsp; CWABS Asset-Backed Certificates Trust, Series 2004-BC4, Class M1, 5.56%, 11/25/2034 (k) | 46 | 45 |
| &nbsp;&nbsp;&nbsp; CWABS, Inc. Asset-Backed Certificates Series 2004-1, Class M2, 5.33%, 3/25/2034 (k) | 372 | 369 |
| &nbsp;&nbsp;&nbsp; CWABS, Inc. Asset-Backed Certificates Trust Series 2004-5, Class M2, 5.51%, 7/25/2034 (k) | 410 | 408 |
| &nbsp;&nbsp;&nbsp; CWABS, Inc., Asset-Backed Certificates Series 2004-1, Class M3, 5.48%, 2/25/2034 (k) | 131 | 131 |
| &nbsp;&nbsp;&nbsp; DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A, Class E, 4.46%, 5/15/2026 (c) | 4167 | 4121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A, Class D, 1.31%, 5/17/2027 (c) | 1710 | 1547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A, Class D, 1.99%, 9/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class E, 2.97%, 7/17/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A, Class C, 7.69%, 7/17/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 969 |
| &nbsp;&nbsp;&nbsp; Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3A, Class E, 4.00%, 8/17/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A, Class E, 3.74%, 1/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3A, Class F, 5.56%, 6/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A, Class E, 4.02%, 1/17/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class E, 2.90%, 7/17/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-6A, Class D, 8.03%, 4/6/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 846 |
| &nbsp;&nbsp;&nbsp; Finance America Mortgage Loan Trust Series 2004-3, Class M2, 5.45%, 11/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp; First Franklin Mortgage Loan Asset-Backed Certificates Series 2004-FF3, Class M1, 5.33%, 5/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp; FREED ABS Trust Series 2022-4FP, Class B, 7.58%, 12/18/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2307 |
| &nbsp;&nbsp;&nbsp; Fremont Home Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-1, Class M1, 5.76%, 8/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-B, Class M2, 5.45%, 5/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-C, Class M1, 5.48%, 8/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-D, Class M1, 5.38%, 11/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-D, Class M2, 5.41%, 11/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp; GLS Auto Receivables Issuer Trust Series 2019-2A, Class D, 4.52%, 2/17/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 |
| &nbsp;&nbsp;&nbsp; GSAMP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-SEA, Class A1, 5.31%, 2/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-HE1, Class M1, 5.73%, 6/20/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FM1, Class A2C, 4.83%, 4/25/2036 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1262 |
| &nbsp;&nbsp;&nbsp; Home Equity Mortgage Loan Asset-Backed Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-B, Class M2, 5.63%, 11/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-C, Class M2, 5.41%, 3/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 568 |
| &nbsp;&nbsp;&nbsp; LendingClub Loan Certificate Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-P3, Class CERT, 11.88%, 5/15/2037 ‡ (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NP3, Class CERT, HB, 25.22%, 5/15/2037 ‡ (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NP5, Class CERT, 0.00%, 6/15/2037 ‡ (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-P4, Class CERT, 0.00%, 6/15/2037 ‡ (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NP6, Class CERT, HB, 25.46%, 7/15/2037 ‡ (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1532 |
| &nbsp;&nbsp;&nbsp; Lendingpoint Asset Securitization Trust Series 2021-B, Class B, 1.68%, 2/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 717 |
| &nbsp;&nbsp;&nbsp; Lendmark Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class B, 2.47%, 11/20/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class D, 5.05%, 11/20/2031 (c) | 1100 | 888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class B, 2.37%, 4/20/2032 (c) | 500 | 421 |
| &nbsp;&nbsp;&nbsp; Long Beach Mortgage Loan Trust Series 2003-4, Class M1, 5.53%, 8/25/2033 (k) | 31 | 31 |
| &nbsp;&nbsp;&nbsp; MASTR Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-OPT2, Class M2, 5.48%, 9/25/2034 (k) | 554 | 528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-NC1, Class M4, 5.65%, 12/25/2034 (k) | 514 | 501 |
| &nbsp;&nbsp;&nbsp; ME Funding LLC Series 2019-1, Class A2, 6.45%, 7/30/2049 (c) | 2370 | 2303 |
| &nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-OPT1, Class M1, 5.48%, 7/25/2034 (k) | 100 | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE2, Class M1, 5.71%, 8/25/2035 (k) | 61 | 60 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley ABS Capital I, Inc. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-NC10, Class M1, 5.53%, 10/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-NC3, Class M1, 5.30%, 3/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-WMC2, Class M1, 5.42%, 7/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-WMC2, Class M2, 6.31%, 7/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE6, Class M2, 5.41%, 8/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE7, Class M2, 5.45%, 8/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE6, Class M3, 5.48%, 8/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE7, Class M3, 5.53%, 8/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE8, Class M2, 5.53%, 9/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-NC8, Class M3, 5.62%, 9/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE8, Class M3, 5.63%, 9/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HE1, Class M2, 5.21%, 12/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-NC1, Class M3, 5.27%, 1/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust Series 2007-5AX, Class 2A2, 4.81%, 2/25/2037 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 727 |
| &nbsp;&nbsp;&nbsp; New Century Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class M2, 5.44%, 8/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-3, Class M2, 5.48%, 11/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-3, Class M3, 5.57%, 11/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-4, Class M2, 5.30%, 2/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp; NovaStar Mortgage Funding Trust Series 2003-2, Class M2, 7.28%, 9/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 983 |
| &nbsp;&nbsp;&nbsp; Oak Street Investment Grade Net Lease Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class A3, 2.80%, 1/20/2051 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class B1, 4.23%, 1/20/2051 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1129 |
| &nbsp;&nbsp;&nbsp; Oportun Issuance Trust Series 2022-3, Class B, 8.53%, 1/8/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 999 |
| &nbsp;&nbsp;&nbsp; Option One Mortgage Accept Corp. Asset-Backed Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-5, Class A2, 5.15%, 8/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-5, Class M2, 6.83%, 8/25/2033 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp; Option One Mortgage Loan Trust Series 2004-3, Class M2, 5.36%, 11/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp; Pagaya AI Debt Selection Trust Series 2021-3, Class C, 3.27%, 5/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1274 |
| &nbsp;&nbsp;&nbsp; People's Choice Home Loan Securities Trust Series 2004-2, Class M3, 6.23%, 10/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1757 |
| &nbsp;&nbsp;&nbsp; PNMAC FMSR ISSUER TRUST Series 2018-FT1, Class A, 6.86%, 4/25/2023 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2803 |
| &nbsp;&nbsp;&nbsp; PRET LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NPL6, Class A1, 2.49%, 7/25/2051 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NPL3, Class A2, 3.72%, 7/25/2051 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NPL6, Class A2, 5.07%, 7/25/2051 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-RN4, Class A2, 5.19%, 10/25/2051 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4534 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NPL2, Class A1, 5.24%, 4/25/2052 (c) (i) | 51 | 49 |
| &nbsp;&nbsp;&nbsp; Pretium Mortgage Credit Partners I LLC Series 2021-NPL1, Class A2, 4.21%, 9/27/2060 (c) (i) | 4000 | 3461 |
| &nbsp;&nbsp;&nbsp; Pretium Mortgage Credit Partners LLC Series 2021-RN1, Class A2, 3.60%, 2/25/2061 (c) (i) | 5000 | 4392 |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR8, Class G, 4.01%, 10/17/2038 (c) | 6080 | 5217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR3, Class D, 4.45%, 4/17/2039 (c) | 1250 | 1160 |
| &nbsp;&nbsp;&nbsp; RAMP Trust Series 2002-RS2, Class AI5, 4.97%, 3/25/2032 (k) | 191 | 175 |
| &nbsp;&nbsp;&nbsp; RASC Trust Series 2005-KS2, Class M1, 5.15%, 3/25/2035 (k) | 9 | 9 |
| &nbsp;&nbsp;&nbsp; Renaissance Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-3, Class M1, 6.01%, 12/25/2032 (k) | 356 | 324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-1, Class M1, 6.01%, 6/25/2033 (k) | 155 | 146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-4, Class M1, 5.78%, 3/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-4, Class M2F, 6.24%, 3/25/2034 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531 |
| &nbsp;&nbsp;&nbsp; Santander Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C, Class B, 6.45%, 12/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C, Class C, 6.99%, 12/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C, Class D, 8.20%, 12/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C, Class E, 11.37%, 12/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp; SASCO Mortgage Loan Trust Series 2004-GEL3, Class M1, 5.09%, 8/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp; Saxon Asset Securities Trust Series 2004-2, Class MV2, 3.67%, 8/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp; Securitized Asset-Backed Receivables LLC Trust Series 2005-OP1, Class M2, 5.18%, 1/25/2035 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp; Stanwich Mortgage Loan Co. LLC Series 2021-NPB1, Class A2, 4.38%, 10/16/2026 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4712 |
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Pass-Through Certificates Series 2002-AL1, Class A3, 3.45%, 2/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 526 |
| &nbsp;&nbsp;&nbsp; Theorem Funding Trust Series 2022-3A, Class A, 7.60%, 4/15/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 883 |
| &nbsp;&nbsp;&nbsp; Upstart Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-PT3, Class A, 18.00%, 4/20/2030 ‡ (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-PT4, Class A, 16.19%, 5/20/2030 ‡ (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3991 |
| &nbsp;&nbsp;&nbsp; Upstart Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class C, 4.15%, 11/20/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class C, 5.71%, 3/20/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4, Class A, 5.98%, 8/20/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 504 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Home Equity Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class M8B, 5.00%, 10/25/2034 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class M1, 5.41%, 10/25/2034 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class M8A, 9.01%, 10/25/2034 (c) (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 147518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $156,463)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 150603 |
| **Foreign Government Securities — 1.0%** | **Foreign Government Securities — 1.0%** | **Foreign Government Securities — 1.0%** |
| **Angola — 0.0% ^** | **Angola — 0.0% ^** | **Angola — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Angola |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 11/12/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 5/9/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/26/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 723 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Angola—continued** | **Angola—continued** | **Angola—continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/26/2029 (c) | 1550 | 1438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 11/26/2049 (a) | 840 | 735 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4191 |
| **Argentina — 0.0% ^** | **Argentina — 0.0% ^** | **Argentina — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Argentine Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 7/9/2035 (i) | 5116 | 1576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 1/9/2038 (i) | 1486 | 543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 7/9/2041 (i) | 3395 | 1153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3272 |
| **Bahrain — 0.1%** | **Bahrain — 0.1%** | **Bahrain — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Bahrain |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/26/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/12/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/20/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 9/16/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/19/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 9/20/2047 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 899 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5186 |
| **Brazil — 0.1%** | **Brazil — 0.1%** | **Brazil — 0.1%** |
| &nbsp;&nbsp;&nbsp; Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/30/2029  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/20/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/7/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/27/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5289 |
| **Colombia — 0.1%** | **Colombia — 0.1%** | **Colombia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/28/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/25/2027  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 4/20/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 2/2/2034 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 9/18/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 1/18/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 6/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 5/15/2049  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 5/15/2051 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 617 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7693 |
| **Costa Rica — 0.0% ^** | **Costa Rica — 0.0% ^** | **Costa Rica — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Costa Rica |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 2/19/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 4/4/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1064 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2239 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Cote D'Ivoire — 0.0% ^** | **Cote D'Ivoire — 0.0% ^** | **Cote D'Ivoire — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Cote d'Ivoire |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/31/2032 (a) (i) | 776 | 710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/15/2033 (a) | 2530 | 2245 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2955 |
| **Dominican Republic — 0.1%** | **Dominican Republic — 0.1%** | **Dominican Republic — 0.1%** |
| &nbsp;&nbsp;&nbsp; Dominican Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 1/29/2026 (a) | 1200 | 1233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 1/25/2027 (a) | 1420 | 1415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/30/2030 (c) | 790 | 687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 2/3/2031 (c) | 930 | 930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/23/2032 (c) | 1090 | 927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 4/30/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 1/27/2045 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/15/2048 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/30/2060 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 675 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8941 |
| **Ecuador — 0.1%** | **Ecuador — 0.1%** | **Ecuador — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Ecuador |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/31/2030 (a) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/31/2030 (c) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 7/31/2035 (a) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1510 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4868 |
| **Egypt — 0.1%** | **Egypt — 0.1%** | **Egypt — 0.1%** |
| &nbsp;&nbsp;&nbsp; Arab Republic of Egypt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/16/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/16/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 1/31/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.60%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/16/2031 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 1/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 5/29/2032 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.70%, 3/1/2049 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.70%, 3/1/2049 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 5/29/2050 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.15%, 11/20/2059 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 711 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7645 |
| **El Salvador — 0.0% ^** | **El Salvador — 0.0% ^** | **El Salvador — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of El Salvador |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 1/18/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.12%, 1/20/2050 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1235 |
| **Gabon — 0.0% ^** | **Gabon — 0.0% ^** | **Gabon — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Gabonese Republic 6.95%, 6/16/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 677 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Ghana — 0.0% ^** | **Ghana — 0.0% ^** | **Ghana — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Ghana |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 5/16/2029 (a) | 1310 | 484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 10/14/2030 (a) | 520 | 363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 6/16/2049 (a) | 1890 | 678 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1525 |
| **Guatemala — 0.0% ^** | **Guatemala — 0.0% ^** | **Guatemala — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Guatemala |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 4/24/2032 (a) | 250 | 244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/1/2050 (c) | 720 | 699 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 943 |
| **Hungary — 0.0% ^** | **Hungary — 0.0% ^** | **Hungary — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Hungary Government Bond 6.75%, 9/25/2052 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 |
| **Iraq — 0.0% ^** | **Iraq — 0.0% ^** | **Iraq — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Iraq |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/9/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1282 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2422 |
| **Jordan — 0.0% ^** | **Jordan — 0.0% ^** | **Jordan — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Hashemite Kingdom of Jordan 5.85%, 7/7/2030 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1661 |
| **Kenya — 0.0% ^** | **Kenya — 0.0% ^** | **Kenya — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Kenya |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 6/24/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 5/22/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 1/23/2034 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 372 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3222 |
| **Lebanon — 0.0% ^** | **Lebanon — 0.0% ^** | **Lebanon — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Lebanese Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 4/22/2024 (a) (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 3/23/2027 (a) (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 11/3/2028 (a) (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343 |
| **Mongolia — 0.0% ^** | **Mongolia — 0.0% ^** | **Mongolia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; State of Mongolia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.65%, 1/19/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 7/7/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 822 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1491 |
| **Morocco — 0.0% ^** | **Morocco — 0.0% ^** | **Morocco — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Kingdom of Morocco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/15/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/2050 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 995 |
| **Namibia — 0.0% ^** | **Namibia — 0.0% ^** | **Namibia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Namibia 5.25%, 10/29/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Nigeria — 0.1%** | **Nigeria — 0.1%** | **Nigeria — 0.1%** |
| &nbsp;&nbsp;&nbsp; Federal Republic of Nigeria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 11/21/2025 (a) | 1000 | 912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/28/2027 (c) | 1220 | 1001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/28/2027 (a) | 2020 | 1656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 1/21/2031 (a) | 780 | 633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 2/16/2032 (a) | 710 | 537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 11/28/2047 (a) | 600 | 392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 11/28/2047 (c) | 1290 | 843 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5974 |
| **Oman — 0.1%** | **Oman — 0.1%** | **Oman — 0.1%** |
| &nbsp;&nbsp;&nbsp; Sultanate of Oman Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/8/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/25/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/28/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 3/8/2047 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/17/2048 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/25/2051 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6253 |
| **Pakistan — 0.0% ^** | **Pakistan — 0.0% ^** | **Pakistan — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Islamic Republic of Pakistan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 4/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 9/30/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/8/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 4/8/2031 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 4/8/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 4/8/2051 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2187 |
| **Paraguay — 0.0% ^** | **Paraguay — 0.0% ^** | **Paraguay — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Paraguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 3/27/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 8/11/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 3/13/2048 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 3/30/2050 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 846 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3533 |
| **Senegal — 0.0% ^** | **Senegal — 0.0% ^** | **Senegal — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Senegal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/23/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/13/2048 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/13/2048 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1695 |
| **Serbia, Republic Of — 0.0% ^** | **Serbia, Republic Of — 0.0% ^** | **Serbia, Republic Of — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Serbia 6.50%, 9/26/2033 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **South Africa — 0.1%** | **South Africa — 0.1%** | **South Africa — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 4/14/2026 | 220 | 215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/12/2028  | 2380 | 2169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/8/2041  | 2500 | 2181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/12/2046 | 700 | 509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/30/2049  | 1550 | 1178 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6252 |
| **Turkey — 0.1%** | **Turkey — 0.1%** | **Turkey — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Turkey |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/14/2024  | 950 | 912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/9/2026  | 1100 | 970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 3/13/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 1/19/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/14/2041  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 4/16/2043  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 707 |
| &nbsp;&nbsp;&nbsp; Turkiye Ihracat Kredi Bankasi A/S 9.38%, 1/31/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 617 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11673 |
| **Zambia — 0.0% ^** | **Zambia — 0.0% ^** | **Zambia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Zambia 8.97%, 7/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government Securities <br>(Cost $128,242)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 105697 |
| **U.S. Treasury Obligations — 0.9%** | **U.S. Treasury Obligations — 0.9%** | **U.S. Treasury Obligations — 0.9%** |
| **United States — 0.9%** | **United States — 0.9%** | **United States — 0.9%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes , 0.88%, 1/31/2024 (q)(Cost $91,231) | &nbsp;&nbsp;&nbsp;&nbsp; 94685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91120 |
|  | **SHARES** <br>**(000)**<br>|  |
| **Preferred Stocks — 0.6%** | **Preferred Stocks — 0.6%** | **Preferred Stocks — 0.6%** |
| **United States — 0.6%** | **United States — 0.6%** | **United States — 0.6%** |
| &nbsp;&nbsp;&nbsp; Allstate Corp. (The) Series H, 5.10%, 10/15/2024 ($25 par value) (r) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1053 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KK, 5.38%, 6/25/2024<br> ($25 par value) (r)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series LL, 5.00%, 9/17/2024<br> ($25 par value) (r)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 805 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP Series E, 7.60%, 5/15/2024 (r) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3923 |
| &nbsp;&nbsp;&nbsp; Goodman Networks, Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, 6.38%, 10/15/2024<br> ($25 par value) (r)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K, 5.85%, 4/15/2027<br> ($25 par value) (r)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series P, 6.50%, 10/15/2027<br> ($25 par value) (r)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5210 |
| &nbsp;&nbsp;&nbsp; MYT Holding LLC Series A, 10.00%, 6/6/2029 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2142 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Preferred Stocks — continued** | **Preferred Stocks — continued** | **Preferred Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; SCE Trust VI 5.00%, 6/26/2022 ($25 par value) (r) | 453 | 9410 |
| &nbsp;&nbsp;&nbsp; Sempra Energy 5.75%, 7/1/2079 ($25 par value) | 18 | 440 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The) Series 2020, 4.95%, 1/30/2080 ($25 par value) | 122 | 2752 |
| &nbsp;&nbsp;&nbsp; State Street Corp. Series G, 5.35%, 3/15/2026 ($25 par value) (r) | 43 | 1126 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. Series R, 4.75%, 9/1/2025 ($25 par value) (r) | 104 | 2309 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Y, 5.63%, 12/15/2022<br> ($25 par value) (r)<br>| 153 | 3768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Z, 4.75%, 3/15/2025<br> ($25 par value) (r)<br>| 776 | 16467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks <br>(Cost $66,742)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62057 |
|  | **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Convertible Bonds — 0.5%** | **Convertible Bonds — 0.5%** | **Convertible Bonds — 0.5%** |
| **Australia — 0.0% ^** | **Australia — 0.0% ^** | **Australia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; DEXUS Finance Pty. Ltd. REIT, 2.30%, 6/19/2026 (a) | AUD 1,600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1079 |
| **Belgium — 0.0% ^** | **Belgium — 0.0% ^** | **Belgium — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Groupe Bruxelles Lambert NV 2.13%, 11/29/2025 (a) | EUR 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 |
| **Canada — 0.0% ^** | **Canada — 0.0% ^** | **Canada — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Shopify, Inc. 0.13%, 11/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597 |
| **China — 0.1%** | **China — 0.1%** | **China — 0.1%** |
| &nbsp;&nbsp;&nbsp; ESR Group Ltd. 1.50%, 9/30/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 765 |
| &nbsp;&nbsp;&nbsp; Hansoh Pharmaceutical Group Co. Ltd. Zero Coupon, 1/22/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 564 |
| &nbsp;&nbsp;&nbsp; Hello Group, Inc. 1.25%, 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1100 |
| &nbsp;&nbsp;&nbsp; Meituan Zero Coupon, 4/27/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1036 |
| &nbsp;&nbsp;&nbsp; Pharmaron Beijing Co. Ltd. Zero Coupon,6/18/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 907 |
| &nbsp;&nbsp;&nbsp; Pinduoduo, Inc. Zero Coupon, 12/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1080 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5452 |
| **France — 0.0% ^** | **France — 0.0% ^** | **France — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Selena Sarl Series PUM, Zero Coupon, 6/25/2025 (a) | EUR 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 313 |
| &nbsp;&nbsp;&nbsp; Worldline SA Zero Coupon, 7/30/2026 (a) | EUR 610(s) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 886 |
| **Germany — 0.0% ^** | **Germany — 0.0% ^** | **Germany — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; MTU Aero Engines AG Series MTX, 0.05%, 3/18/2027 (a) | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1022 |
| &nbsp;&nbsp;&nbsp; Zalando SE Series B, 0.63%, 8/6/2027 (a) | EUR 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1753 |
| **Israel — 0.0% ^** | **Israel — 0.0% ^** | **Israel — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Wix.com Ltd. Zero Coupon, 8/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1435 |
| **New Zealand — 0.0% ^** | **New Zealand — 0.0% ^** | **New Zealand — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Xero Investments Ltd. Zero Coupon, 12/2/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762 |
| **Singapore — 0.0% ^** | **Singapore — 0.0% ^** | **Singapore — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Sea Ltd. 0.25%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Convertible Bonds — continued** | **Convertible Bonds — continued** | **Convertible Bonds — continued** |
| **South Korea — 0.0% ^** | **South Korea — 0.0% ^** | **South Korea — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Delivery Hero SE Series A, 1.00%, 4/30/2026 (a) | EUR 300 | 259 |
| &nbsp;&nbsp;&nbsp; POSCO Holdings, Inc. Zero Coupon, 9/1/2026 (a) | EUR 600 | 624 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 883 |
| **Spain — 0.0% ^** | **Spain — 0.0% ^** | **Spain — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Cellnex Telecom SA 0.75%, 11/20/2031 (a) | EUR 1,200 | 1083 |
| **United Arab Emirates — 0.0% ^** | **United Arab Emirates — 0.0% ^** | **United Arab Emirates — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Abu Dhabi National Oil Co. 0.70%, 6/4/2024 (a) | 600 | 569 |
| **United Kingdom — 0.1%** | **United Kingdom — 0.1%** | **United Kingdom — 0.1%** |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 2/4/2025 | 490 | 644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series VUN, Zero Coupon, 2/18/2025 | 508 | 543 |
| &nbsp;&nbsp;&nbsp; Capital & Counties Properties plc REIT, 2.00%, 3/30/2026 | GBP 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 542 |
| &nbsp;&nbsp;&nbsp; Cornwall Jersey Ltd. 0.75%, 4/16/2026 (a) | GBP 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp; Just Eat Takeaway.com NV Series B, 0.63%, 2/9/2028 (a) | EUR 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 458 |
| &nbsp;&nbsp;&nbsp; Ocado Group plc 0.75%, 1/18/2027 (a) | GBP 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp; Trainline plc 1.00%, 1/14/2026 (a) | GBP 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 613 |
| &nbsp;&nbsp;&nbsp; WH Smith plc 1.63%, 5/7/2026 (a) | GBP 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 566 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4023 |
| **United States — 0.3%** | **United States — 0.3%** | **United States — 0.3%** |
| &nbsp;&nbsp;&nbsp; Affirm Holdings, Inc. Zero Coupon, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 953 |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc. Zero Coupon, 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 595 |
| &nbsp;&nbsp;&nbsp; Alteryx, Inc. 1.00%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951 |
| &nbsp;&nbsp;&nbsp; BigCommerce Holdings, Inc. 0.25%, 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp; Block, Inc. 0.25%, 11/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 895 |
| &nbsp;&nbsp;&nbsp; BofA Finance LLC 0.25%, 5/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 |
| &nbsp;&nbsp;&nbsp; Cheesecake Factory, Inc. (The) 0.38%, 6/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643 |
| &nbsp;&nbsp;&nbsp; Chegg, Inc. Zero Coupon, 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1293 |
| &nbsp;&nbsp;&nbsp; Cloudflare, Inc. Zero Coupon, 8/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 637 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc. 0.50%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 583 |
| &nbsp;&nbsp;&nbsp; Confluent, Inc. Zero Coupon, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1210 |
| &nbsp;&nbsp;&nbsp; Coupa Software, Inc. 0.38%, 6/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1497 |
| &nbsp;&nbsp;&nbsp; DigitalBridge Group, Inc. REIT, 5.00%, 4/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 845 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%,3/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2966 |
| &nbsp;&nbsp;&nbsp; DocuSign, Inc. Zero Coupon, 1/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 922 |
| &nbsp;&nbsp;&nbsp; Dropbox, Inc. Zero Coupon, 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 917 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. Zero Coupon, 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 460 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Corp. 10.00% (Cash), 3/2/2023 ‡ \* (d) (e) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1553 |
| &nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc. 0.25%, 3/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp; Liberty Interactive LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp; Okta, Inc. 0.13%, 9/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp; Peloton Interactive, Inc. Zero Coupon, 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 872 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Convertible Bonds — continued** | **Convertible Bonds — continued** | **Convertible Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Redwood Trust, Inc. REIT, 4.75%, 8/15/2023 | 716 | 703 |
| &nbsp;&nbsp;&nbsp; Repay Holdings Corp. Zero Coupon, 2/1/2026 (c) | 855 | 686 |
| &nbsp;&nbsp;&nbsp; RingCentral, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 3/1/2025 | 1093 | 956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 3/15/2026 | 1704 | 1366 |
| &nbsp;&nbsp;&nbsp; RWT Holdings, Inc. 5.75%, 10/1/2025 | 313 | 277 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments, Inc. 0.50%, 8/1/2027 | 544 | 486 |
| &nbsp;&nbsp;&nbsp; Snap, Inc. Zero Coupon, 5/1/2027 | 1328 | 980 |
| &nbsp;&nbsp;&nbsp; Splunk, Inc. 1.13%, 6/15/2027 | 657 | 565 |
| &nbsp;&nbsp;&nbsp; Spotify USA, Inc. Zero Coupon, 3/15/2026 | 654 | 545 |
| &nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc. 0.63%, 4/1/2023 | 636 | 628 |
| &nbsp;&nbsp;&nbsp; Teladoc Health, Inc. 1.25%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 621 |
| &nbsp;&nbsp;&nbsp; TripAdvisor, Inc. 0.25%, 4/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 567 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. Zero Coupon, 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 941 |
| &nbsp;&nbsp;&nbsp; Unity Software, Inc. Zero Coupon, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc. 2.25%, 6/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33158 |
| **Vietnam — 0.0% ^** | **Vietnam — 0.0% ^** | **Vietnam — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; No. Va Land Investment Group Corp. 5.25%, 7/16/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Bonds <br>(Cost $60,296)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53390 |
|  | **SHARES** <br>**(000)**<br>|  |
| **Convertible Preferred Stocks — 0.1%** | **Convertible Preferred Stocks — 0.1%** | **Convertible Preferred Stocks — 0.1%** |
| **United States — 0.1%** | **United States — 0.1%** | **United States — 0.1%** |
| &nbsp;&nbsp;&nbsp; AMG Capital Trust II 5.15%, 10/15/2037 ($50 par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 984 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. Series L, 7.25% ($1,000 par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2680 |
| &nbsp;&nbsp;&nbsp; Claire's Stores, Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7187 |
| &nbsp;&nbsp;&nbsp; Danaher Corp. Series B, 5.00%, 4/15/2023 ($1,000 par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 |
| &nbsp;&nbsp;&nbsp; KKR Group Co., Inc., Series C, 6.00%, 9/15/2023 ($50 par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1278 |
| &nbsp;&nbsp;&nbsp; NextEra Energy, Inc. 6.93%, 9/1/2025 ($49 par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2143 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. Series L, 7.50% ($1,000 par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Preferred Stocks <br>(Cost $9,835)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16774 |
|  | **NO. OF** <br> **WARRANTS** <br>**(000)**<br>|  |
| **Warrants — 0.0% ^** | **Warrants — 0.0% ^** | **Warrants — 0.0% ^** |
| **United Kingdom — 0.0% ^** | **United Kingdom — 0.0% ^** | **United Kingdom — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Nmg Research Ltd. expiring 9/24/2027, price 1.00 USD ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1426 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **NO. OF** <br> **WARRANTS**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Warrants — continued** | **Warrants — continued** | **Warrants — continued** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Cineworld Group expiring 12/31/2049, price 4,149.00 GBP \* | 17 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Windstream Holdings, Inc. expiring 12/31/2049, price 10.75 USD ‡ \* | 4 | 30 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Warrants <br>(Cost $1)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1456 |
|  | **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Mortgage-Backed Securities — 0.0% ^** | **Mortgage-Backed Securities — 0.0% ^** | **Mortgage-Backed Securities — 0.0% ^** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 20 Year Pool # CA1231, 3.50%, 2/1/2038 | 244 | 239 |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 30 Year |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4398, 2.00%, 8/1/2051 | 573 | 483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4465, 2.00%, 11/1/2051 | 51 | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4548, 2.50%, 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4563, 2.50%, 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4564, 3.00%, 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4733, 4.50%, 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Mortgage-Backed Securities <br>(Cost $1,064)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 943 |
|  | **NO. OF** <br> **RIGHTS** <br>**(000)**<br>|  |
| **Rights — 0.0% ^** | **Rights — 0.0% ^** | **Rights — 0.0% ^** |
| **Luxembourg — 0.0% ^** | **Luxembourg — 0.0% ^** | **Luxembourg — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings SA, expiring 12/5/2025‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| **Spain — 0.0% ^** | **Spain — 0.0% ^** | **Spain — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA, expiring 2/3/2023\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Vistra Corp., expiring 12/31/2049‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Rights <br>(Cost $45)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 666 |
|  | **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Short-Term Investments — 3.9%** | **Short-Term Investments — 3.9%** | **Short-Term Investments — 3.9%** |
| **Certificates of Deposits — 0.1%** | **Certificates of Deposits — 0.1%** | **Certificates of Deposits — 0.1%** |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The), (SOFR + 4.95%), 4.88%, 3/24/2023 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, 5.72%, 12/7/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 736 |
| &nbsp;&nbsp;&nbsp; Lloyds Bank Corporate Markets plc, (SOFR + 5.04%), 4.97%, 3/22/2023 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; Mizuho Bank Ltd., 5.40%, 12/14/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1060 |
| &nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp. Ltd., 5.28%, 7/5/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1065 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, 3.46%, 6/13/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Certificates of Deposits <br>(Cost $3,680)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3684 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Short-Term Investments — continued** | **Short-Term Investments — continued** | **Short-Term Investments — continued** |
| **Commercial Paper — 0.4%** | **Commercial Paper — 0.4%** | **Commercial Paper — 0.4%** |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc., 5.28%, 7/20/2023 (t) | 250 | 244 |
| &nbsp;&nbsp;&nbsp; Australia & New Zealand Banking Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 9/12/2023 (t) | 1412 | 1370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 12/15/2023 (t) | 1225 | 1172 |
| &nbsp;&nbsp;&nbsp; Bell Canada Corp., 4.72%, 2/14/2023 (t) | 690 | 689 |
| &nbsp;&nbsp;&nbsp; Citigroup Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 8/9/2023 (t) | 216 | 210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 1/8/2024 (t) | 589 | 561 |
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC, 5.13%, 2/22/2023 (t) | 450 | 449 |
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA, 5.21%, 8/14/2023 (t) | 1237 | 1204 |
| &nbsp;&nbsp;&nbsp; Credit Industriel et Commercial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.69%, 2/9/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 7/19/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 |
| &nbsp;&nbsp;&nbsp; DBS Bank Ltd., 5.18%, 6/7/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 830 |
| &nbsp;&nbsp;&nbsp; Dexia Credit Local SA, 4.79%, 4/20/2023 (c) (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1831 |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/10/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 12/19/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975 |
| &nbsp;&nbsp;&nbsp; DZ Bank AG, 5.00%, 7/27/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1016 |
| &nbsp;&nbsp;&nbsp; Enbridge US, Inc., 4.83%, 2/2/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1300 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc., 4.72%, 2/6/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 |
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC, 4.82%, 2/8/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp; GTA Funding LLC, 4.90%, 5/24/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1773 |
| &nbsp;&nbsp;&nbsp; Henkel US Operations Corp., 4.30%, 9/7/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; HSBC USA, Inc., 6.06%, 12/7/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1135 |
| &nbsp;&nbsp;&nbsp; ING US Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 9/21/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 10/16/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 965 |
| &nbsp;&nbsp;&nbsp; Korea Development Bank (The), 5.02%, 7/7/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1762 |
| &nbsp;&nbsp;&nbsp; Lloyds Bank Corporate Markets plc, 5.25%, 9/11/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582 |
| &nbsp;&nbsp;&nbsp; LMA-Americas LLC, 5.15%, 7/18/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 |
| &nbsp;&nbsp;&nbsp; Macquarie Bank Ltd., 5.49%, 11/15/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 |
| &nbsp;&nbsp;&nbsp; Mitsubishi HC Finance America LLC, 5.11%, 4/10/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 683 |
| &nbsp;&nbsp;&nbsp; MUFG Bank Ltd., 5.21%, 5/15/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 644 |
| &nbsp;&nbsp;&nbsp; National Bank of Canada, 5.22%, 6/7/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1229 |
| &nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance Corp., 4.72%, 2/15/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1123 |
| &nbsp;&nbsp;&nbsp; Natixis SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 9/8/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 10/6/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 966 |
| &nbsp;&nbsp;&nbsp; Nutrien Ltd., 4.93%, 2/15/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848 |
| &nbsp;&nbsp;&nbsp; Ontario Teachers' Finance Trust, 4.15%, 3/9/2023 (c) (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp; PSP Capital, Inc., 4.94%, 8/18/2023 (c) (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1801 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 12/8/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 12/12/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 7/13/2023 (t) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1760 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Short-Term Investments — continued** | **Short-Term Investments — continued** | **Short-Term Investments — continued** |
| **Commercial Paper — continued** | **Commercial Paper — continued** | **Commercial Paper — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 10/25/2023 (t) | 1000 | 963 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, 5.44%, 12/15/2023 (t) | 1101 | 1052 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Trust Bank Ltd., 4.83%, 4/26/2023 (t) | 1850 | 1829 |
| &nbsp;&nbsp;&nbsp; Toyota Industries Commercial Finance, Inc., 4.02%, 6/9/2023 (c) (t) | 111 | 109 |
| &nbsp;&nbsp;&nbsp; Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 8/23/2023 (t) | 912 | 887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 10/11/2023 (t) | 1000 | 965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Paper <br>(Cost $41,516)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41539 |
|  | **SHARES** <br>**(000)**<br>|  |
| **Investment Companies — 1.6%** | **Investment Companies — 1.6%** | **Investment Companies — 1.6%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class IM Shares, 4.52% (l) (m) | 22879 | 22893 |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class Institutional Shares, 4.45% (l) (m) | &nbsp;&nbsp;&nbsp; 146566 | &nbsp;&nbsp;&nbsp;&nbsp; 146654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $169,490)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 169547 |
| **Investment of Cash Collateral from Securities Loaned — 1.8%** | **Investment of Cash Collateral from Securities Loaned — 1.8%** | **Investment of Cash Collateral from Securities Loaned — 1.8%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 4.57% (l) (m) | &nbsp;&nbsp;&nbsp; 164938 | &nbsp;&nbsp;&nbsp;&nbsp; 165004 |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.15% (l) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 23159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment of Cash Collateral from Securities Loaned <br>(Cost $188,102)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 188163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $402,788)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 402933 |
| **Total Investments — 100.9%** <br>**(Cost $10,350,278)**<br>|  | **10486325** |
| **Liabilities in Excess of Other Assets — (0.9)%** |  | **(88770)** |
| **NET ASSETS — 100.0%** |  | **10397555** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| <br>Percentages indicated are based on net assets. |
| <br>Amounts presented as a dash ("-") represent amounts that round to less than a thousand. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| ABS | Asset-Backed Securities |
| ACES | Alternative Credit Enhancement Securities |
| ADR | American Depositary Receipt |
| AUD | Australian Dollar |
| CJSC | Closed Joint Stock Company |
| CLO | Collateralized Loan Obligations |
| CME | Chicago Mercantile Exchange |
| CSMC | Credit Suisse Mortgage Trust |
| CVA | Dutch Certification |
| ELN | Equity-Linked Note |
| ETF | Exchange Traded Fund |
| EUR | Euro |
| EURIBOR | Euro Interbank Offered Rate |
| FHLMC | Federal Home Loan Mortgage Corp. |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | |
|:---|:---|
| FNMA | Federal National Mortgage Association |
| GBP | British Pound |
| GDR | Global Depositary Receipt |
| GNMA | Government National Mortgage Association |
| HB | High Coupon Bonds (a.k.a. "IOettes") represent the right to receive interest payments on an underlying pool of mortgages with similar features as those <br> associated with IO securities. Unlike IO's the owner also has a right to receive a very small portion of principal. The high interest rates result from taking <br> interest payments from other classes in the Real Estate Mortgage Investment Conduit trust and allocating them to the small principal of the HB class.<br>|
| ICE | Intercontinental Exchange |
| IF | Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index or have an interest <br> rate that adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the <br> rate in effect as of January 31, 2023. The rate may be subject to a cap and floor.<br>|
| IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown <br> represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or <br> refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.<br>|
| JSC | Joint Stock Company |
| LIBOR | London Interbank Offered Rate |
| OYJ | Public Limited Company |
| PIK | Payment In Kind |
| PJSC | Public Joint Stock Company |
| PO | Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is <br> extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on <br> these securities increases.<br>|
| Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference <br> shares may also have liquidation preference.<br>|
| PT | Limited liability company |
| REIT | Real Estate Investment Trust |
| REMIC | Real Estate Mortgage Investment Conduit |
| RTS | Russian Trading System |
| SCA | Limited partnership with share capital |
| SGPS | Holding company |
| SOFR | Secured Overnight Financing Rate |
| SOFRINDX | Compounding index of the Secured Overnight Financing Rate |
| STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal <br> components of eligible notes and bonds as separate securities.<br>|
| UMBS | Uniform Mortgage-Backed Securities |
| USD | United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| ^ | Amount rounds to less than 0.1% of net assets. |
| ‡ | Value determined using significant unobservable inputs. |
| \* | Non-income producing security.  |
| (a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities <br> offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have <br> restrictions on resale.<br>|
| (b) | The security or a portion of this security is on loan at January 31, 2023. The total value of securities on loan at January 31, 2023 is <br> $180,917.<br>|
| (c) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
| (d) | Security is an interest bearing note with preferred security characteristics. |
| (e) | Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time <br> and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in <br> effect as of January 31, 2023.<br>|
| (f) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of January 31, 2023. |
| (g) | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. |
| (h) | Security has the ability to pay in kind ("PIK") or pay income in cash. When applicable, separate rates of such payments are disclosed. |
| (i) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a <br> predetermined trigger. The interest rate shown is the current rate as of January 31, 2023. <br>|
| (j) | Defaulted security. |
| (k) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments <br> on the underlying pool of assets. The interest rate shown is the current rate as of January 31, 2023. <br>|
| (l) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan <br> Investment Management Inc.<br>|
| (m) | The rate shown is the current yield as of January 31, 2023. |
| (n) | Loan assignments are presented by obligor. Each series or loan tranche underlying each obligor may have varying terms. |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) All or a portion of this security is unsettled as of January 31, 2023. Unless otherwise indicated, the coupon rate is undetermined.
 The coupon rate shown may not be accrued for the entire position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Fund is subject to legal or contractual restrictions on the resale of the security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) All or a portion of this security is deposited with the broker as initial margin for futures contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) The date shown reflects the next call date on which the issuer may redeem the security at par value. The coupon rate for this
 security is based on par value and is in effect as of January 31, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Amount represents Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) The rate shown is the effective yield as of January 31, 2023.

**Summary of Investments by Industry, January 31, 2023**

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:

---

| | |
|:---|:---|
| **INDUSTRY** | **PERCENT OF** <br>**TOTAL** <br>**INVESTMENTS**<br>|
| Banks | &nbsp;&nbsp; 8.8% |
| Convertible Bonds | &nbsp;&nbsp; 7.2 |
| Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 6.3 |
| Exchange-Traded Fund | &nbsp;&nbsp; 5.2 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp; 4.2 |
| Equity Real Estate Investment Trusts (REITs) | &nbsp;&nbsp; 4.1 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp; 3.7 |
| Diversified Telecommunication Services | &nbsp;&nbsp; 3.7 |
| Media | &nbsp;&nbsp; 3.3 |
| Electric Utilities | &nbsp;&nbsp; 3.0 |
| Pharmaceuticals | &nbsp;&nbsp; 3.0 |
| Capital Markets | &nbsp;&nbsp; 2.6 |
| Insurance | &nbsp;&nbsp; 2.6 |
| Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 1.9 |
| Health Care Providers & Services | &nbsp;&nbsp; 1.7 |
| Hotels, Restaurants & Leisure | &nbsp;&nbsp; 1.6 |
| Chemicals | &nbsp;&nbsp; 1.5 |
| Metals & Mining | &nbsp;&nbsp; 1.5 |
| Asset-Backed Securities | &nbsp;&nbsp; 1.4 |
| Specialty Retail | &nbsp;&nbsp; 1.2 |
| Machinery | &nbsp;&nbsp; 1.1 |
| Multi-Utilities | &nbsp;&nbsp; 1.1 |
| Auto Components | &nbsp;&nbsp; 1.1 |
| Wireless Telecommunication Services | &nbsp;&nbsp; 1.1 |
| Food Products | &nbsp;&nbsp; 1.1 |
| Foreign Government Securities | &nbsp;&nbsp; 1.0 |
| Food & Staples Retailing | &nbsp;&nbsp; 1.0 |
| Consumer Finance | &nbsp;&nbsp; 1.0 |
| Beverages | &nbsp;&nbsp; 1.0 |
| Others (each less than 1.0%) | 18.2 |
| Short-Term Investments | &nbsp;&nbsp; 3.8 |

---

Detailed information about investment portfolios of the underlying funds and ETFs can be found in shareholder reports filed with the Securities and Exchange Commission (SEC) by each such underlying fund semi-annually on Form N-CSR and in portfolio holdings filed

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

quarterly on Form N-PORT, and are available for download from both the SEC's as well as each respective underlying fund's website. Detailed information about underlying J.P. Morgan Funds can also be found at www.jpmorganfunds.com or by calling 1-800-480-4111.

**Futures contracts outstanding as of January 31, 2023 (amounts in thousands, except number of contracts):**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **DESCRIPTION** | &nbsp;&nbsp;&nbsp; **NUMBER OF** <br>**CONTRACTS**<br>| **EXPIRATION DATE** | **TRADING CURRENCY** | &nbsp;&nbsp;&nbsp; **NOTIONAL** <br>**AMOUNT ($)**<br>| &nbsp;&nbsp;&nbsp; **VALUE AND** <br>**UNREALIZED** <br>**APPRECIATION** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| **Long Contracts** |  |  |  |  |  |
| S&P 500 E-Mini Index | &nbsp;&nbsp;&nbsp;&nbsp; 457 | 03/17/2023 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 93468 | &nbsp;&nbsp;&nbsp; 2779 |
| U.S. Treasury 10 Year Note | 19009 | 03/22/2023 | USD | 2182471 | 38272 |
|  |  |  |  |  | 41051 |
| **Short Contracts** |  |  |  |  |  |
| EURO STOXX 50 Index | (7004) | 03/17/2023 | EUR | &nbsp;&nbsp; (319120) | (15891) |
| E-Mini NASDAQ 100 Index | (2050) | 03/17/2023 | USD | &nbsp;&nbsp; (498242) | (19069) |
|  |  |  |  |  | (34960) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp; 6091 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| EUR | Euro |
| USD | United States Dollar |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued) <br>(Dollar values in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**A. Valuation of Investments** — Investments are valued in accordance with U.S. generally accepted accounting principles ("GAAP") and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the "Board"), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Funds on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of Investments held in the Funds. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

A market-based approach is primarily used to value the Fund's investments. Investments for which market quotations are not readily available are fair valued using prices supplied by approved affiliated and/or unaffiliated pricing vendors or third party broker-dealers (collectively referred to as "Pricing Services"), or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include the use of related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and such differences could be material.

Fixed income instruments are valued based on prices received from Pricing Services. The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values ("NAV") of the Fund is calculated on a valuation date. Certain foreign equity instruments are valued by applying international fair value factors provided by approved Pricing Services. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAV is calculated.

Investments in open-end investment companies, excluding exchange-traded funds ("ETFs") ("Underlying Funds"), are valued at each Underlying Fund's net asset values ("NAV") per share as of the report date.

Futures contracts are generally valued on the basis of available market quotations.

See the table on "Quantitative Information about Level 3 Fair Value Measurements" for information on the valuation techniques and inputs used to value level 3 securities held by the Fund at January 31, 2023.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.

• Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

• Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).

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**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued) <br>(Dollar values in thousands)

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

The following table represents each valuation input as presented on the Schedule of Portfolio Investments ("SOI"):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cayman Islands | $— | $3085 | $— | $3085 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 123393 | &nbsp;&nbsp;&nbsp;&nbsp; 24125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147518 |
| &nbsp;&nbsp;&nbsp; Total Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 126478 | &nbsp;&nbsp;&nbsp;&nbsp; 24125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150603 |
| Collateralized Mortgage Obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2996 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 389173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389173 |
| &nbsp;&nbsp;&nbsp; Total Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 392169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 392169 |
| Commercial Mortgage-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 388991 | &nbsp;&nbsp;&nbsp;&nbsp; 55604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444595 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87402 |
| &nbsp;&nbsp;&nbsp; Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13860 |
| &nbsp;&nbsp;&nbsp; Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21584 |
| &nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26407 |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp;&nbsp; 195667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195667 |
| &nbsp;&nbsp;&nbsp; Cayman Islands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) |
| &nbsp;&nbsp;&nbsp; Chile | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5327 |
| &nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15750 | &nbsp;&nbsp;&nbsp;&nbsp; 190826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 206576 |
| &nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38138 |
| &nbsp;&nbsp;&nbsp; Egypt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2230 |
| &nbsp;&nbsp;&nbsp; Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59097 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 155323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155323 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 129686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129686 |
| &nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51207 |
| &nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31507 |
| &nbsp;&nbsp;&nbsp; Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30443 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3848 |
| &nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78747 |
| &nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 185262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185262 |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8089 |
| &nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48510 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63096 |
| &nbsp;&nbsp;&nbsp; New Zealand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9316 |
| &nbsp;&nbsp;&nbsp; Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28667 |
| &nbsp;&nbsp;&nbsp; Poland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6871 |
| &nbsp;&nbsp;&nbsp; Portugal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12031 |
| &nbsp;&nbsp;&nbsp; Russia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp; Saudi Arabia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5730 |
| &nbsp;&nbsp;&nbsp; Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45262 |
| &nbsp;&nbsp;&nbsp; South Africa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50126 |

---

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**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued) <br>(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; South Korea | $1487 | $81065 | $— | $82552 |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100047 |
| &nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52599 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58976 |
| &nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98191 |
| &nbsp;&nbsp;&nbsp; Thailand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12367 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12092 | &nbsp;&nbsp;&nbsp;&nbsp; 236259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248351 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp; 1584928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67740 | &nbsp;&nbsp;&nbsp;&nbsp; 10756 | &nbsp;&nbsp;&nbsp;&nbsp; 1663424 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp; 1943139 | &nbsp;&nbsp; 1956146 | &nbsp;&nbsp;&nbsp;&nbsp; 17337 | &nbsp;&nbsp;&nbsp;&nbsp; 3916622 |
| Convertible Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1079 |
| &nbsp;&nbsp;&nbsp; Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597 |
| &nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5452 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 886 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1753 |
| &nbsp;&nbsp;&nbsp; Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1435 |
| &nbsp;&nbsp;&nbsp; New Zealand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762 |
| &nbsp;&nbsp;&nbsp; Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951 |
| &nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 883 |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1083 |
| &nbsp;&nbsp;&nbsp; United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 569 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4023 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33158 |
| &nbsp;&nbsp;&nbsp; Vietnam | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp; Total Convertible Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53390 |
| Convertible Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16774 |
| Corporate Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15241 |
| &nbsp;&nbsp;&nbsp; Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1232 |
| &nbsp;&nbsp;&nbsp; Azerbaijan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3199 |
| &nbsp;&nbsp;&nbsp; Bahrain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1398 |
| &nbsp;&nbsp;&nbsp; Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2668 |
| &nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4726 |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 149608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149608 |
| &nbsp;&nbsp;&nbsp; Cayman Islands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 |
| &nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40281 |
| &nbsp;&nbsp;&nbsp; Colombia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2946 |
| &nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1596 |
| &nbsp;&nbsp;&nbsp; Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9486 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91969 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18930 |
| &nbsp;&nbsp;&nbsp; Guatemala | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1094 |
| &nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13699 |
| &nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26870 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued) <br>(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; Indonesia | $— | $15225 | $— | $15225 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19017 |
| &nbsp;&nbsp;&nbsp; Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1107 |
| &nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9739 |
| &nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19505 |
| &nbsp;&nbsp;&nbsp; Kazakhstan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2699 |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22357 |
| &nbsp;&nbsp;&nbsp; Macau | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5295 |
| &nbsp;&nbsp;&nbsp; Malaysia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16267 |
| &nbsp;&nbsp;&nbsp; Morocco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37491 |
| &nbsp;&nbsp;&nbsp; Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7115 |
| &nbsp;&nbsp;&nbsp; Panama | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 855 |
| &nbsp;&nbsp;&nbsp; Paraguay | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp; Peru | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1469 |
| &nbsp;&nbsp;&nbsp; Philippines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6803 |
| &nbsp;&nbsp;&nbsp; Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1826 |
| &nbsp;&nbsp;&nbsp; South Africa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2106 |
| &nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2748 |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30057 |
| &nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5355 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44005 |
| &nbsp;&nbsp;&nbsp; Thailand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4801 |
| &nbsp;&nbsp;&nbsp; United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 147025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147025 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 2524411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 2524414 |
| &nbsp;&nbsp;&nbsp; Uzbekistan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1131 |
| &nbsp;&nbsp;&nbsp; Total Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 3315183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 3315186 |
| Equity Linked Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 757019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757019 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 548357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548357 |
| Foreign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 105697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105697 |
| Loan Assignments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2954 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 520 |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9962 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 207093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212027 |
| &nbsp;&nbsp;&nbsp; Total Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 221804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226738 |
| Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 943 |
| Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62057 |
| Rights |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 |

---

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued) <br>(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; United States | $— | $— | $622 | $622 |
| &nbsp;&nbsp;&nbsp; Total Rights | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 666 |
| U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91120 |
| Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1456 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Certificates of Deposits | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3684 |
| &nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41539 |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 169547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169547 |
| &nbsp;&nbsp;&nbsp; Investment of Cash Collateral from Securities Loaned | &nbsp;&nbsp;&nbsp;&nbsp; 188163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188163 |
| &nbsp;&nbsp;&nbsp; Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; 357710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402933 |
| **Total Investments in Securities** | $2918750 | $7452610 | $114965 | $10486325 |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Futures Contracts | $41051 | $— | $— | $41051 |
| **Depreciation in Other Financial Instruments** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; (34960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (34960) |
| **Total Net Appreciation/ Depreciation in Other**<br> **Financial Instruments**<br>| $6091 | $— | $— | $6091 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(a) Amount rounds to less than one thousand.

The following is a summary of investments for which significant unobservable inputs (level 3) were used in determining fair value:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Balance as of** <br>**October 31,** <br>**2022**<br>| **Realized** <br>**gain (loss)**<br>| **Change in net** <br>**unrealized** <br>**appreciation** <br>**(depreciation)**<br>| **Net** <br>**accretion** <br>**(amortization)**<br>| **Purchases**<sup>1</sup> <br>| **Sales**<sup>2</sup> <br>| **Transfers** <br>**into** <br>**Level 3**<br>| **Transfers** <br>**out of** <br>**Level 3**<br>| **Balance as of** <br>**January 31,** <br>**2023**<br>|
| **Investments in Securities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | $84575 | $—(a) | $46 | $(1) | $— | $(3260) | $8134 | $(65369) | $24125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage <br> Obligations<br>| &nbsp;&nbsp; 144403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp; 5172 | &nbsp;&nbsp; (12324) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; (137397) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage-Backed <br> Securities<br>| &nbsp;&nbsp; 269605 | &nbsp;&nbsp; (6293) | &nbsp;&nbsp;&nbsp; 7035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp; 19249 | &nbsp;&nbsp; (14826) | &nbsp;&nbsp; 36166 | &nbsp;&nbsp; (255335) | &nbsp;&nbsp;&nbsp;&nbsp; 55604 |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282 | &nbsp;&nbsp; (1457) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (283) | &nbsp;&nbsp;&nbsp;&nbsp; 9245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17337 |
| &nbsp;&nbsp;&nbsp; Convertible Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (487) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1553 |
| &nbsp;&nbsp;&nbsp; Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7187 |
| &nbsp;&nbsp;&nbsp; Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp; Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp; 913 | &nbsp;&nbsp;&nbsp;&nbsp; 4840 | &nbsp;&nbsp;&nbsp;&nbsp; (3640) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4934 |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (394) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2143 |
| &nbsp;&nbsp;&nbsp; Rights | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 623 |
| &nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (706) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1456 |
| **Total** | $525308 | $(5952) | $4336 | $915 | $29261 | $(34333) | $53545 | $(458115) | $114965 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

 <br> <sup>1</sup> Purchases include all purchases of securities and securities received in corporate actions. <br> <sup>2</sup> Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Amount rounds to less than one thousand.

The changes in net unrealized appreciation (depreciation) attributable to securities owned at January 31, 2023, which were valued using significant unobservable inputs (level 3) amounted to $(3,151).

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued) <br>(Dollar values in thousands)

For the period ended January 31, 2023, transfers in and out of level 3 were the result of decreased or increased transparency of market activity and observability of certain inputs used in determining fair value. This change in observability and resulting changes in levels does not impact liquidity or fair value of the Fund's investments or reflect any change in the investment strategy of the Fund.

The significant unobservable inputs used in the fair value measurement of the Fund's investments are listed below. Generally, a change in the assumptions used in any input in isolation may be accompanied by a change in another input. Significant changes in any of the unobservable inputs may significantly impact the fair value measurement. The impact is based on the relationship between each unobservable input and the fair value measurement. Significant increases (decreases) in enterprise multiples may increase (decrease) the fair value measurement. Significant increases (decreases) in the discount for lack of marketability, liquidity discount, probability of default, yield and default rate may decrease (increase) the fair value measurement. A significant change in the discount rate or prepayment rate (Constant Prepayment Rate or PSA Prepayment Model) may decrease or increase the fair value measurement.

**Quantitative Information about Level 3 Fair Value Measurements #** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value at**<br> **January 31, 2023**<br>| &nbsp;&nbsp; **Valuation**<br> **Technique(s)**<br>| &nbsp;&nbsp; **Unobservable**<br> **Input**<br>| &nbsp;&nbsp; **Range (Weighted**<br> **Average) (a)**<br>|
|  | $0 (b) | Market Comparable Companies | EBITDA Multiple (c) | 5.0x(5.0x) |
|  |  |  | Liquidity Discount | 30.00% (30.00%) |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | Market Comparable Companies | EBITDA Multiple (c) | 5.0x (5.0x) |
|  |  |  | Liquidity Discount | 30.00% (30.00%) |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |  |  |  |
|  | &nbsp;&nbsp;&nbsp; 3210 | Discounted Cash Flow | Constant Prepayment Rate | 6.00% - 18.00% (9.0%) |
|  |  |  | Constant Default Rate | 5.00% - 8.00% (7.25%) |
|  |  |  | Yield (Discount Rate of Cash Flows) | 7.88% - 9.24% (8.22%) |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp;&nbsp; 3210 |  |  |  |
|  | &nbsp;&nbsp; 8507 | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 13.78% (13.78%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial <br> Mortgage-Backed <br> Securities<br>| &nbsp;&nbsp; 8507 |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | Terms of Restructuring | Expected Recovery | 10.90% (10.90%) |
| &nbsp;&nbsp;&nbsp; Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |  |  |  |
| &nbsp;&nbsp;&nbsp; Total | $11734  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

# The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At January 31, 2023, the value of these investments was $103,231. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note A. 

(a) Unobservable inputs were weighted by the relative fair value of the instruments.

(b) Amount rounds to less than one thousand.

(c) Represents amounts used when the reporting entity has determined that market participants would take into account such multiples when pricing the investments. 

**B. Investment Transactions with Affiliates** — The Fund invested in Underlying Funds and an ETF, which are advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to

------

**JPMorgan Income Builder Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued) <br>(Dollar values in thousands)

be affiliated issuers. The Underlying Funds' and ETF's distributions may be reinvested into such Underlying Funds and ETF. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** |
| **Security Description** | **Value at** <br>**October 31,** <br>**2022**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**January 31,** <br>**2023**<br>| **Shares at** <br>**January 31,** <br>**2023**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| JPMorgan Equity Premium Income ETF (a) (b) | $292788 | $249351 | $— | $— | $6218 | $548357 | &nbsp;&nbsp;&nbsp;&nbsp; 9886 | $9602 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class IM <br> Shares, 4.52% (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 47930 | &nbsp;&nbsp;&nbsp;&nbsp; 204888 | &nbsp;&nbsp;&nbsp;&nbsp; 229949 | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 22893 | &nbsp;&nbsp; 22879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund <br> Class Institutional Shares, 4.45% (a) (b)<br>| &nbsp;&nbsp; 407567 | &nbsp;&nbsp; 1936714 | &nbsp;&nbsp; 2197774 | &nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp; 146654 | 146566 | &nbsp;&nbsp;&nbsp;&nbsp; 2765 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund <br> Agency SL Class Shares, 4.57% (a) (b)<br>| &nbsp;&nbsp; 147949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73000 | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | &nbsp;&nbsp; 165004 | 164938 | &nbsp;&nbsp;&nbsp;&nbsp; 1576 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund <br> Class IM Shares, 4.15% (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 29510 | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 116351 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23159 | &nbsp;&nbsp; 23159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 | &nbsp;&nbsp; — |
| **Total** | $925744 | $2590954 | $2617074 | $183 | $6260 | $906067 |  | $14657 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

 <br> (a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. <br> (b) The rate shown is the current yield as of January 31, 2023.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** JPMorgan Trust I

- **b. Investment Company Act file number:** 811-21295

- **c. CIK number of Registrant:** 0001217286

- **d. LEI of Registrant:** 549300DM5WZMCZZ70R78

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

  - **Street Address 1:** 277 Park Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

  - **Telephone number:** 800-480-4111

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

- **a. Name of Series:** JPMorgan Income Builder Fund

- **b. EDGAR series identifier (if any):** S000015698

- **c. LEI of Series:** 64EDD3UF2MK5YCUN2U63

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $10675000058.34

**Total Liabilities:** $271412044.04

**Net Assets:** $10403588014.30

**Cash Not Reported:** $15085802.33

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 4430.95609000 | **1-Year:** 76668.82795000 | **5-Year:** 178569.10802000 | **10-Year:** 69162.24696000 | **30-Year:** 54394.45721000

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

- **3-Month:** 9500.80860000 | **1-Year:** 171092.16410000 | **5-Year:** 846788.13980000 | **10-Year:** 281725.83378000 | **30-Year:** 153972.27300000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000042873 | 5.29%                | -1.17%               | 4.54%                |
| Class ID C000042871 | 5.29%                | -1.18%               | 4.54%                |
| Class ID C000042872 | 5.38%                | -1.34%               | 4.51%                |
| Class ID C000195048 | 5.30%                | -1.16%               | 4.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-44018026.28            | $534337805.30                              |
| Month 2  | $-54118205.90            | $-148895396.78                             |
| Month 3  | $-9491910.83             | $456134593.16                              |

**Designated Index Information**

- **Index Name:** 60% WRLDRNRUSD0, 40% 1TRUSD0

- **Index Identifier:** IBXUSD000059

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Liberty Interactive LLC                                                     | Liberty Interactive LLC                                                                                | CUSIP: 530715AJ0<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |   2370000 | PA      | $1127231.25   | 0.01%             | 2030-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Wynn Las Vegas LLC                                                          | Wynn Las Vegas LLC                                                                                     | CUSIP: 983130AV7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10222000 | PA      | $9933355.25   | 0.10%             | 2025-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Host Hotels & Resorts, Inc.                                                 | Host Hotels & Resorts, Inc.                                                                            | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    371608 | NS      | $7004810.80   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co.                                                         | Graham Holdings Co.                                                                                    | CUSIP: 384637AA2<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |    450000 | PA      | $444375.00    | 0.00%             | 2026-06-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                                    | Cooperatieve Rabobank UA                                                                               | CUSIP: 21687BVE8<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | STIV             | CORP              | NL        |   1237000 | PA      | $1204543.19   | 0.01%             | 2023-08-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| People's Choice Home Loan Securities Trust                                  | People's Choice Home Loan Securities Trust, Series 2004-2, Class M3                                    | CUSIP: 71085PAX1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1909784 | PA      | $1757454.77   | 0.02%             | 2034-10-25      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust, Series 2019-L2, Class D                                                | CUSIP: 61768HAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7075000 | PA      | $4909633.99   | 0.05%             | 2052-03-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Amkor Technology, Inc.                                                      | Amkor Technology, Inc.                                                                                 | CUSIP: 031652BK5<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |   3941000 | PA      | $3957236.92   | 0.04%             | 2027-09-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| NuStar Logistics LP                                                         | NuStar Logistics LP                                                                                    | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   2167000 | PA      | $2122186.44   | 0.02%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Indika Energy Capital III Pte. Ltd.                                         | Indika Energy Capital III Pte. Ltd.                                                                    | CUSIP: N/A<br>LEI: 254900QWI3R1VQN4X672       | Long             | DBT              | CORP              | SG        |    250000 | PA      | $246375.00    | 0.00%             | 2024-11-09      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Harsco Corp.                                                                | Harsco Corp., Term Loan B-3                                                                            | CUSIP: 41587CAR9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | LON              | CORP              | US        |    378061 | PA      | $360813.80    | 0.00%             | 2028-03-10      | Variable      | 6.93%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CC4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   2341000 | PA      | $2330316.99   | 0.02%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Nordstrom, Inc.                                                             | Nordstrom, Inc.                                                                                        | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    329000 | PA      | $263966.57    | 0.00%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                                    | Energizer Holdings, Inc.                                                                               | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   7701000 | PA      | $6687702.42   | 0.06%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Midcontinent Communications                                                 | Midcontinent Communications                                                                            | CUSIP: 59565XAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2488000 | PA      | $2343771.88   | 0.02%             | 2027-08-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: —       |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418D6B3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     51131 | PA      | $43015.60     | 0.00%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corp.                                                  | Garda World Security Corp.                                                                             | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   2491000 | PA      | $2267084.01   | 0.02%             | 2027-02-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                                      | Sonic Automotive, Inc.                                                                                 | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |   2706000 | PA      | $2248943.07   | 0.02%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| Owens & Minor, Inc.                                                         | Owens & Minor, Inc.                                                                                    | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |   3294000 | PA      | $2912892.44   | 0.03%             | 2030-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Pagegroup plc                                                               | Pagegroup plc                                                                                          | CUSIP: N/A<br>LEI: 213800JK5ZEQW4AB8G71       | Long             | EC               | CORP              | GB        |    376608 | NS      | $2120162.24   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Telecom Plus plc                                                            | Telecom Plus plc                                                                                       | CUSIP: N/A<br>LEI: 549300QGHDX5UKE58G86       | Long             | EC               | CORP              | GB        |     88402 | NS      | $2177291.67   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Option One Mortgage Acceptance Corp. Asset-Backed Certificates              | Option One Mortgage Accept Corp. Asset-Backed Certificates, Series 2003-5, Class A2                    | CUSIP: 68400XBS8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    259367 | PA      | $246712.41    | 0.00%             | 2033-08-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  26457000 | PA      | $24970778.03  | 0.24%             | 2024-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| American Home Mortgage Investment Trust                                     | American Home Mortgage Investment Trust, Series 2007-2, Class 12A1                                     | CUSIP: 02660CAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4282762 | PA      | $1674326.90   | 0.02%             | 2037-03-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Centrica plc                                                                | Centrica plc                                                                                           | CUSIP: 15639KAA0<br>LEI: E26EDV109X6EEPBKVH76 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $197093.07    | 0.00%             | 2023-10-16      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ESR Group Ltd.                                                              | ESR Group Ltd.                                                                                         | CUSIP: N/A<br>LEI: 549300C81AR42BZUFZ09       | Long             | DBT              | CORP              | KY        |    800000 | PA      | $765200.00    | 0.01%             | 2025-09-30      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Hercules Achievement, Inc.                                                  | Hercules Achievement, Inc., 1st Lien Term Loan                                                         | CUSIP: 42703UAG0<br>LEI: 549300YOKDS0ZSYJRX81 | Long             | LON              | CORP              | US        |    268588 | PA      | $265901.96    | 0.00%             | 2024-12-16      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd.                                                                | Nutrien Ltd.                                                                                           | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     76817 | NS      | $6358742.16   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NovaStar Mortgage Funding Trust                                             | NovaStar Mortgage Funding Trust, Series 2003-2, Class M2                                               | CUSIP: 66987WAS6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    974574 | PA      | $983125.80    | 0.01%             | 2033-09-25      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Medco Bell Pte. Ltd.                                                        | Medco Bell Pte. Ltd.                                                                                   | CUSIP: N/A<br>LEI: 2549003PNDCWIWGKC768       | Long             | DBT              | CORP              | SG        |    800000 | PA      | $760000.00    | 0.01%             | 2027-01-30      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Ciena Corp.                                                                 | Ciena Corp.                                                                                            | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |   4011000 | PA      | $3509625.00   | 0.03%             | 2030-01-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies BV                                                     | Sensata Technologies BV                                                                                | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |   1870000 | PA      | $1834937.50   | 0.02%             | 2030-09-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2016-77, Class SA                                                                  | CUSIP: 3136ATU36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2405911 | PA      | $293226.93    | 0.00%             | 2046-10-25      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| Meituan                                                                     | Meituan                                                                                                | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | DBT              | CORP              | KY        |   1200000 | PA      | $1036200.00   | 0.01%             | 2028-04-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp, Series J                                                                                   | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1414000 | PA      | $1312421.92   | 0.01%             | 2027-04-15      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Co. (The)                                                       | Kraft Heinz Co. (The)                                                                                  | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |    186099 | NS      | $7542592.47   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra Energy                                                               | Sempra Energy                                                                                          | CUSIP: 816851BK4<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   8040000 | PA      | $7718400.00   | 0.07%             | 2025-10-15      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| CVR Partners LP                                                             | CVR Partners LP                                                                                        | CUSIP: 12663QAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3296000 | PA      | $2982990.84   | 0.03%             | 2028-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Encino Acquisition Partners Holdings LLC                                    | Encino Acquisition Partners Holdings LLC                                                               | CUSIP: 29254BAA5<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |   5594000 | PA      | $5215343.31   | 0.05%             | 2028-05-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123BJ8<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    470000 | PA      | $336637.50    | 0.00%             | 2041-01-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BW LPG Ltd.                                                                 | BW LPG Ltd.                                                                                            | CUSIP: N/A<br>LEI: 5493006WBEME88YFDW23       | Long             | EC               | CORP              | BM        |    345175 | NS      | $2856760.89   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K054, Class X3                        | CUSIP: 3137BNGV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  17000000 | PA      | $685315.90    | 0.01%             | 2043-04-25      | Variable      | 1.60%                 | No            |                  2 | On Loan: No      |
| NMG, Inc.                                                                   | NMG, Inc.                                                                                              | CUSIP: 62929P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4386 | NS      | $672505.38    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Cia de Distribucion Integral Logista Holdings SA                            | Cia de Distribucion Integral Logista Holdings SA                                                       | CUSIP: N/A<br>LEI: 9598000ANNAL42UJ7X28       | Long             | EC               | CORP              | ES        |    104637 | NS      | $2834977.26   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Walgreens Boots Alliance, Inc.                                              | Walgreens Boots Alliance, Inc.                                                                         | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Long             | EC               | CORP              | US        |    142989 | NS      | $5270574.54   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Operating Corp.                                             | Gulfport Energy Operating Corp., Escrow                                                                | CUSIP: 402ESCAS6<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |   1458000 | PA      | $918.54       | 0.00%             | 2025-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP                                                           | Genesis Energy LP                                                                                      | CUSIP: 37185LAK8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1933000 | PA      | $1847215.05   | 0.02%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Envision Healthcare Corp.                                                   | Envision Healthcare Corp., 1st Lien Term Loan                                                          | CUSIP: 29373UAF8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    238707 | PA      | $94885.93     | 0.00%             | 2027-03-31      | Variable      | 8.83%                 | No            |                  2 | On Loan: No      |
| Orange SA                                                                   | Orange SA                                                                                              | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |    532845 | NS      | $5638968.98   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123CP3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    940000 | PA      | $803700.00    | 0.01%             | 2028-02-17      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AES Panama Generation Holdings SRL                                          | AES Panama Generation Holdings SRL                                                                     | CUSIP: 00109AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |    960000 | PA      | $854580.00    | 0.01%             | 2030-05-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Eaton Corp. plc                                                             | Eaton Corp. plc                                                                                        | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |    133044 | NS      | $21581067.24  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Industries, Inc.                                                   | Standard Industries, Inc.                                                                              | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    215000 | PA      | $183797.24    | 0.00%             | 2030-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Biogen, Inc.                                                                | Biogen, Inc.                                                                                           | CUSIP: 09062XAH6<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |    107000 | PA      | $90717.92     | 0.00%             | 2030-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Coupa Software, Inc.                                                        | Coupa Software, Inc.                                                                                   | CUSIP: 22266LAF3<br>LEI: 549300Q95ICR2GFL2K37 | Long             | DBT              | CORP              | US        |   1539000 | PA      | $1496677.50   | 0.01%             | 2026-06-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                  | Occidental Petroleum Corp.                                                                             | CUSIP: 674599EF8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   3821000 | PA      | $3987939.49   | 0.04%             | 2031-01-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| WestJet Airlines Ltd.                                                       | WestJet Airlines Ltd., 1st Lien Term Loan                                                              | CUSIP: C4927UAB8<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    287020 | PA      | $275019.44    | 0.00%             | 2026-12-11      | Variable      | 7.51%                 | No            |                  2 | On Loan: No      |
| Nabors Industries Ltd.                                                      | Nabors Industries Ltd.                                                                                 | CUSIP: 629571AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    841000 | PA      | $817872.50    | 0.01%             | 2026-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander SA                                                          | Banco Santander SA                                                                                     | CUSIP: 05964HAP0<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   6600000 | PA      | $6396415.21   | 0.06%             | 2025-03-24      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Asset-Backed Securities Corp. Home Equity Loan Trust                        | Asset-Backed Securities Corp. Home Equity Loan Trust, Series 2004-HE2, Class M2                        | CUSIP: 04541GHX3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    632489 | PA      | $600782.49    | 0.01%             | 2034-04-25      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    573000 | PA      | $411491.36    | 0.00%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                     | Bath & Body Works, Inc.                                                                                | CUSIP: 501797AU8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    148000 | PA      | $158408.84    | 0.00%             | 2025-07-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Targa Resources Partners LP                                                 | Targa Resources Partners LP                                                                            | CUSIP: 87612BBN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1906000 | PA      | $1957442.94   | 0.02%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                 | Allied Universal Holdco LLC                                                                            | CUSIP: 019576AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    872000 | PA      | $832760.00    | 0.01%             | 2027-07-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Westpac Banking Corp.                                                       | Westpac Banking Corp.                                                                                  | CUSIP: 9612C1VP9<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | STIV             | CORP              | AU        |    912000 | PA      | $886997.22    | 0.01%             | 2023-08-23      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies, Inc.                                                      | BWX Technologies, Inc.                                                                                 | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   2624000 | PA      | $2368175.06   | 0.02%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara                   | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara                                              | CUSIP: 71568QAP2<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | NUSS              | ID        |    600000 | PA      | $443250.00    | 0.00%             | 2050-06-30      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                              | JELD-WEN, Inc.                                                                                         | CUSIP: 475795AE0<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |   1197000 | PA      | $1146783.53   | 0.01%             | 2025-05-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                                         | Nexstar Media, Inc.                                                                                    | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |  16745000 | PA      | $15950784.65  | 0.15%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                                | Trivium Packaging Finance BV                                                                           | CUSIP: 89686QAA4<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   2541000 | PA      | $2439207.54   | 0.02%             | 2026-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397XL2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   4242000 | PA      | $4050982.74   | 0.04%             | 2025-08-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Reynolds Group Holdings, Inc.                                               | Reynolds Group Holdings, Inc., 1st Lien Term Loan                                                      | CUSIP: 76173FAW7<br>LEI: 5493002QNV81KCX40V06 | Long             | LON              | CORP              | US        |    442542 | PA      | $441572.93    | 0.00%             | 2026-02-05      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| N/A                                                                         | Nmg Research Ltd.                                                                                      | CUSIP: 62929P110<br>LEI: N/A                  | N/A              | DO               |  | GB        |     47531 | NS      | $1425930.00   | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| CGG SA                                                                      | CGG SA                                                                                                 | CUSIP: 12531TAF6<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $443519.39    | 0.00%             | 2027-04-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: —       |
| Sinclair Television Group, Inc.                                             | Sinclair Television Group, Inc.                                                                        | CUSIP: 829259AW0<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |   2890000 | PA      | $2554248.18   | 0.02%             | 2027-02-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: —       |
| LB-UBS Commercial Mortgage Trust                                            | LB-UBS Commercial Mortgage Trust, Series 2006-C6, Class AJ                                             | CUSIP: 50179MAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3352490 | PA      | $1468358.26   | 0.01%             | 2039-09-15      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2016-151                                                                                  | CUSIP: 38379UV45<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  35325290 | PA      | $1287677.48   | 0.01%             | 2058-06-16      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| PetSmart, Inc.                                                              | PetSmart, Inc.                                                                                         | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4996000 | PA      | $4621216.77   | 0.04%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Videotron Ltd.                                                              | Videotron Ltd.                                                                                         | CUSIP: 92660FAG9<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |    803000 | PA      | $797631.82    | 0.01%             | 2024-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Gulfport Energy Corp.                                                       | Gulfport Energy Corp.                                                                                  | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |    110394 | NS      | $7523351.10   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Tekni-Plex, Inc.                                                            | Tekni-Plex, Inc., 1st Lien Term Loan                                                                   | CUSIP: 00216EAE9<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |    470853 | PA      | $461351.39    | 0.00%             | 2028-09-15      | Variable      | 8.73%                 | No            |                  2 | On Loan: No      |
| Catalent Pharma Solutions, Inc.                                             | Catalent Pharma Solutions, Inc.                                                                        | CUSIP: 14879EAH1<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |    940000 | PA      | $777605.60    | 0.01%             | 2029-02-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Country Garden Holdings Co. Ltd.                                            | Country Garden Holdings Co. Ltd.                                                                       | CUSIP: N/A<br>LEI: 549300MGHLPT1EFHGF84       | Long             | DBT              | CORP              | KY        |   2700000 | PA      | $2045250.00   | 0.02%             | 2025-09-17      | Fixed         | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   6150000 | PA      | $5727187.50   | 0.06%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                          | Renaissance Home Equity Loan Trust, Series 2003-4, Class M2F                                           | CUSIP: 759950BV9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    583642 | PA      | $531093.25    | 0.01%             | 2034-03-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| Comision Federal de Electricidad                                            | Comision Federal de Electricidad                                                                       | CUSIP: N/A<br>LEI: 4469000001BFPONMPF32       | Long             | DBT              | NUSS              | MX        |    300000 | PA      | $210900.00    | 0.00%             | 2051-02-09      | Fixed         | 4.68%                 | Yes           |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                                              | Long Beach Mortgage Loan Trust, Series 2003-4, Class M1                                                | CUSIP: 542514EH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     31265 | PA      | $31024.39     | 0.00%             | 2033-08-25      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  27771000 | PA      | $25931171.25  | 0.25%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                                   | Telecom Italia Capital SA                                                                              | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |   1600000 | PA      | $1360368.00   | 0.01%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                                     | Chesapeake Energy Corp.                                                                                | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |   8139000 | PA      | $8025460.95   | 0.08%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| PRPM LLC                                                                    | PRPM LLC, Series 2021-3, Class A2                                                                      | CUSIP: 69357PAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5500000 | PA      | $4837289.05   | 0.05%             | 2026-04-25      | Variable      | 3.72%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                                     | Quikrete Holdings, Inc., 1st Lien Term Loan B                                                          | CUSIP: 74839XAG4<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    495153 | PA      | $492959.50    | 0.00%             | 2029-03-18      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| Transocean Pontus Ltd.                                                      | Transocean Pontus Ltd.                                                                                 | CUSIP: 89382PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   2931525 | PA      | $3019856.36   | 0.03%             | 2025-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| BMO Mortgage Trust                                                          | BMO Mortgage Trust, Series 2023-C4, Class B                                                            | CUSIP: 05610CAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4750000 | PA      | $4759846.28   | 0.05%             | 2056-02-15      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                                             | Sinclair Television Group, Inc.                                                                        | CUSIP: 829259AY6<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |   1365000 | PA      | $1088587.50   | 0.01%             | 2030-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| Royalty Pharma plc                                                          | Royalty Pharma plc                                                                                     | CUSIP: 78081BAN3<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |     86000 | PA      | $68350.08     | 0.00%             | 2031-09-02      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                                                | Ardagh Packaging Finance plc                                                                           | CUSIP: 03969AAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5131000 | PA      | $4201698.94   | 0.04%             | 2027-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| Santander Bank Auto Credit-Linked Notes                                     | Santander Bank Auto Credit-Linked Notes, Series 2022-C, Class D                                        | CUSIP: 80290CBH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    442163 | PA      | $442318.59    | 0.00%             | 2032-12-15      | Fixed         | 8.20%                 | Yes           |                  2 | On Loan: No      |
| Alfa SAB de CV                                                              | Alfa SAB de CV                                                                                         | CUSIP: 015398AC4<br>LEI: 549300ZCGJ6T8YDJ4M34 | Long             | DBT              | CORP              | MX        |    330000 | PA      | $335671.88    | 0.00%             | 2044-03-25      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| IRB Holding Corp.                                                           | IRB Holding Corp., 1st Lien Term Loan B                                                                | CUSIP: 44988LAF4<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |    783083 | PA      | $781251.02    | 0.01%             | 2025-02-05      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                           | Exxon Mobil Corp.                                                                                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    122308 | NS      | $14188951.08  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp.                                                                   | EQT Corp.                                                                                              | CUSIP: 26884LAG4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1239105.65   | 0.01%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ThoughtWorks, Inc.                                                          | ThoughtWorks, Inc., 1st Lien Term Loan                                                                 | CUSIP: 90010LAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    522527 | PA      | $519072.70    | 0.00%             | 2028-03-24      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| JPMorgan Prime Money Market Fund                                            | JPMorgan Prime Money Market Fund, Class Institutional                                                  | CUSIP: 4812A2603<br>LEI: 549300YD7H8SEEU7VG41 | Long             | STIV             | RF                | US        | 146566028 | NS      | $146653967.98 | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-64, Class GS                                                                         | CUSIP: 38380WYH6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3164252 | PA      | $350187.12    | 0.00%             | 2048-05-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                         | Exeter Automobile Receivables Trust, Series 2019-3A, Class E                                           | CUSIP: 30167EAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2333000 | PA      | $2245354.79   | 0.02%             | 2026-08-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Canadian Utilities Ltd.                                                     | Canadian Utilities Ltd., Class A                                                                       | CUSIP: 136717832<br>LEI: LWV4QIQODEH3VBHUFX07 | Long             | EC               | CORP              | CA        |    294230 | NS      | $8177539.66   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2006-1F, Class 2A9                                                     | CUSIP: 3623417H6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    840796 | PA      | $439074.21    | 0.00%             | 2036-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2005-A8, Class 1A1                                                     | CUSIP: 466247YH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     78573 | PA      | $64535.41     | 0.00%             | 2035-11-25      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| Scripps Escrow II, Inc.                                                     | Scripps Escrow II, Inc.                                                                                | CUSIP: 81105DAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1061205.00   | 0.01%             | 2031-01-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: —       |
| Taiwan Semiconductor Manufacturing Co. Ltd.                                 | Taiwan Semiconductor Manufacturing Co. Ltd.                                                            | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     35604 | NS      | $3301558.92   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group, Inc.                                                | Performance Food Group, Inc.                                                                           | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   7422000 | PA      | $6622279.50   | 0.06%             | 2029-08-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                          | United Rentals North America, Inc.                                                                     | CUSIP: 911365BL7<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2322000.00   | 0.02%             | 2030-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ultimate Software Group, Inc. (The)                                         | Ultimate Software Group, Inc. (The), 1st Lien Term Loan                                                | CUSIP: 90385KAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    124357 | PA      | $123027.94    | 0.00%             | 2026-05-04      | Variable      | 8.58%                 | No            |                  2 | On Loan: No      |
| Idemitsu Kosan Co. Ltd.                                                     | Idemitsu Kosan Co. Ltd.                                                                                | CUSIP: N/A<br>LEI: 549300P0R46FF6DUA630       | Long             | EC               | CORP              | JP        |    237300 | NS      | $5932682.22   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                        | Frontier Communications Holdings LLC                                                                   | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    416000 | PA      | $431080.00    | 0.00%             | 2030-05-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Walmart, Inc.                                                               | Walmart, Inc.                                                                                          | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     19295 | NS      | $2775971.65   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group, Inc.                                                             | CME Group, Inc.                                                                                        | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |    162342 | NS      | $28679337.72  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos., Inc.                                                           | Lowe's Cos., Inc.                                                                                      | CUSIP: 548661ED5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     75000 | PA      | $64650.28     | 0.00%             | 2028-09-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Centex Home Equity Loan Trust                                               | Centex Home Equity Loan Trust, Series 2004-D, Class MF2                                                | CUSIP: 152314LN8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    602575 | PA      | $583191.15    | 0.01%             | 2034-09-25      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| Haier Smart Home Co. Ltd.                                                   | Haier Smart Home Co. Ltd., Class H                                                                     | CUSIP: N/A<br>LEI: 3003002BYTNGNJTWSH07       | Long             | EC               | CORP              | CN        |   3863000 | NS      | $14247213.36  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-20CB, Class 1A1                                                    | CUSIP: 12667GPT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     96139 | PA      | $74979.61     | 0.00%             | 2035-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Interior Logic Group                                                        | Interior Logic Group, 1st Lien Term Loan B                                                             | CUSIP: 82666KAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    480461 | PA      | $343130.92    | 0.00%             | 2028-04-03      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co., Series Y                                                                            | CUSIP: 94988U656<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    152550 | NS      | $3767985.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Computer, Inc.                                                       | Quanta Computer, Inc.                                                                                  | CUSIP: N/A<br>LEI: 529900DE8BIV3XOXIK04       | Long             | EC               | CORP              | TW        |    804917 | NS      | $2010270.61   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| APi Group DE, Inc.                                                          | APi Group DE, Inc.                                                                                     | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |   2037000 | PA      | $1816247.30   | 0.02%             | 2029-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AT&T, Inc.                                                                  | AT&T, Inc., Series B                                                                                   | CUSIP: N/A<br>LEI: 549300Z40J86GGSTL398       | Long             | DBT              | CORP              | US        |    700000 | PA      | $700124.61    | 0.01%             | 2025-03-02      | Variable      | 2.87%                 | No            |                  2 | On Loan: No      |
| Kennedy-Wilson, Inc.                                                        | Kennedy-Wilson, Inc.                                                                                   | CUSIP: 489399AL9<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |   1545000 | PA      | $1297800.00   | 0.01%             | 2029-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AJ8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |    730000 | PA      | $522771.25    | 0.01%             | 2045-05-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd.                                                                | Nutrien Ltd.                                                                                           | CUSIP: 67077VPF9<br>LEI: 5493002QQ7GD21OWF963 | Long             | STIV             | CORP              | CA        |    850000 | PA      | $848317.36    | 0.01%             | 2023-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| COLEM Mortgage Trust                                                        | COLEM Mortgage Trust, Series 2022-HLNE, Class A                                                        | CUSIP: 12659JAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2143308.25   | 0.02%             | 2042-04-12      | Variable      | 2.46%                 | Yes           |                  2 | On Loan: No      |
| Valero Energy Corp.                                                         | Valero Energy Corp.                                                                                    | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     58366 | NS      | $8172990.98   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Citicorp Mortgage Securities Trust                                          | Citicorp Mortgage Securities Trust, Series 2007-4, Class 1A9                                           | CUSIP: 17312XAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330209 | PA      | $290019.94    | 0.00%             | 2037-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Republic of Ecuador                                                         | Republic of Ecuador                                                                                    | CUSIP: 27927IAE3<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    650000 | PA      | $431356.25    | 0.00%             | 2030-07-31      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Export Development Canada                                                   | Export Development Canada                                                                              | CUSIP: 30215HTL4<br>LEI: Z6MHCSLXHKYG4B6PHW02 | Long             | STIV             | NUSS              | CA        |   1850000 | PA      | $1815955.89   | 0.02%             | 2023-06-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                     | BNP Paribas Issuance BV, ELN, (linked to Nasdaq 100 Index)                                             | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |      8879 | PA      | $106979075.45 | 1.03%             | 2023-03-23      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| goeasy Ltd.                                                                 | goeasy Ltd.                                                                                            | CUSIP: 380355AD9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    804000 | PA      | $769572.72    | 0.01%             | 2024-12-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Nippon Accommodations Fund, Inc.                                            | Nippon Accommodations Fund, Inc.                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       492 | NS      | $2208303.35   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| OGE Energy Corp.                                                            | OGE Energy Corp.                                                                                       | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     69069 | NS      | $2715793.08   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RASC Trust                                                                  | RASC Trust, Series 2005-KS2, Class M1                                                                  | CUSIP: 76110WN69<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9272 | PA      | $9255.01      | 0.00%             | 2035-03-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Holly Energy Partners LP                                                    | Holly Energy Partners LP                                                                               | CUSIP: 435765AJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1720000 | PA      | $1700650.00   | 0.02%             | 2027-04-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                                            | Skandinaviska Enskilda Banken AB                                                                       | CUSIP: 83050UUD8<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | STIV             | CORP              | SE        |   1800000 | PA      | $1760374.69   | 0.02%             | 2023-07-13      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| MortgageIT Trust                                                            | MortgageIT Trust, Series 2005-3, Class A1                                                              | CUSIP: 61915RAK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         1 | PA      | $1.16         | 0.00%             | 2035-08-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                                         | Hilcorp Energy I LP                                                                                    | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1255000 | PA      | $1158418.34   | 0.01%             | 2032-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Canadian Natural Resources Ltd.                                             | Canadian Natural Resources Ltd.                                                                        | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     49148 | NS      | $3016735.30   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| KFC Holding Co.                                                             | KFC Holding Co.                                                                                        | CUSIP: 48250NAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    508000 | PA      | $492760.00    | 0.00%             | 2027-06-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397B93<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    880000 | PA      | $734060.01    | 0.01%             | 2029-02-10      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                    | Angel Oak Mortgage Trust, Series 2019-6, Class B3                                                      | CUSIP: 03464VAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1284815 | PA      | $1154750.35   | 0.01%             | 2059-11-25      | Variable      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| Titan Acquisition Ltd.                                                      | Titan Acquisition Ltd., 1st Lien Term Loan B                                                           | CUSIP: C8856UAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5782834 | PA      | $5630109.84   | 0.05%             | 2025-03-28      | Variable      | 8.15%                 | No            |                  2 | On Loan: No      |
| DocuSign, Inc.                                                              | DocuSign, Inc.                                                                                         | CUSIP: 256163AD8<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | DBT              | CORP              | US        |    970000 | PA      | $921985.00    | 0.01%             | 2024-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MGIC Investment Corp.                                                       | MGIC Investment Corp.                                                                                  | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |   1176000 | PA      | $1108615.20   | 0.01%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4718, Class SD                                                                    | CUSIP: 3137FAT81<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2669894 | PA      | $318584.61    | 0.00%             | 2047-09-15      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-AR7, Class 6A1                                                    | CUSIP: 362341XG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    465457 | PA      | $412129.31    | 0.00%             | 2035-11-25      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                                                         | Altice Financing SA, 1st Lien Term Loan B                                                              | CUSIP: L0178UAM8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    381790 | PA      | $375425.57    | 0.00%             | 2027-10-28      | Variable      | 9.57%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                                   | EQM Midstream Partners LP                                                                              | CUSIP: 26885BAF7<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    797000 | PA      | $784654.47    | 0.01%             | 2025-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Splunk, Inc.                                                                | Splunk, Inc.                                                                                           | CUSIP: 848637AF1<br>LEI: 549300XGDSGBP6UEI867 | Long             | DBT              | CORP              | US        |    657000 | PA      | $565414.20    | 0.01%             | 2027-06-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Activision Blizzard, Inc.                                                   | Activision Blizzard, Inc.                                                                              | CUSIP: 00507VAP4<br>LEI: 549300TPQQDBP9GNOF40 | Long             | DBT              | CORP              | US        |    292000 | PA      | $236976.71    | 0.00%             | 2030-09-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| BAWAG Group AG                                                              | BAWAG Group AG                                                                                         | CUSIP: N/A<br>LEI: 529900S9YO2JHTIIDG38       | Long             | EC               | CORP              | AT        |     53092 | NS      | $3288776.65   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205AV6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    700000 | PA      | $509250.00    | 0.00%             | 2046-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPX Flow, Inc.                                                              | SPX Flow, Inc., 1st Lien Term Loan B                                                                   | CUSIP: 78470DAT5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3036874 | PA      | $2921898.39   | 0.03%             | 2029-04-05      | Variable      | 9.16%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                   | Vistra Operations Co. LLC                                                                              | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   6595000 | PA      | $6369001.29   | 0.06%             | 2027-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                         | Post Holdings, Inc.                                                                                    | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   6931000 | PA      | $6427625.38   | 0.06%             | 2029-12-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Enova International, Inc.                                                   | Enova International, Inc.                                                                              | CUSIP: 29357KAD5<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    135000 | PA      | $131118.75    | 0.00%             | 2024-09-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                          | Crown Castle, Inc.                                                                                     | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    250000 | PA      | $238538.41    | 0.00%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                             | Santander UK Group Holdings plc                                                                        | CUSIP: 80281LAJ4<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   3575000 | PA      | $3532373.95   | 0.03%             | 2024-11-15      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| Chubb Ltd.                                                                  | Chubb Ltd.                                                                                             | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |     24535 | NS      | $5581467.15   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG                               | Muenchener Rueckversicherungs-Gesellschaft AG (Registered)                                             | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |     51739 | NS      | $18688517.82  | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Tengizchevroil Finance Co. International Ltd.                               | Tengizchevroil Finance Co. International Ltd.                                                          | CUSIP: N/A<br>LEI: 5493001VEV2XTJIBZH31       | Long             | DBT              | CORP              | BM        |    800000 | PA      | $708150.00    | 0.01%             | 2026-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                               | Asbury Automotive Group, Inc.                                                                          | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |   5379000 | PA      | $4746644.76   | 0.05%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                                                         | CUSIP: 09659W2G8<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2080000 | PA      | $2066702.31   | 0.02%             | 2025-01-10      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                                  | AerCap Ireland Capital DAC                                                                             | CUSIP: 00774MAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   2135000 | PA      | $2081164.14   | 0.02%             | 2024-02-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AMG Capital Trust II                                                        | AMG Capital Trust II                                                                                   | CUSIP: 00170F209<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     19686 | NS      | $984300.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Corp.                                                                 | Hertz Corp., Escrow                                                                                    | CUSIP: 428ESCAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5505000 | PA      | $412875.00    | 0.00%             | 2026-08-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| DigitalBridge Group, Inc.                                                   | DigitalBridge Group, Inc.                                                                              | CUSIP: 19624RAA4<br>LEI: 549300XG87L902AGBO89 | Long             | DBT              | CORP              | US        |    853000 | PA      | $845003.13    | 0.01%             | 2023-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd.                                                               | Voya CLO Ltd., Series 2016-3A, Class CR                                                                | CUSIP: 92915HAU7<br>LEI: 549300001G5S0D8B8343 | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $460693.75    | 0.00%             | 2031-10-18      | Floating      | 8.04%                 | Yes           |                  2 | On Loan: No      |
| Ziff Davis, Inc.                                                            | Ziff Davis, Inc.                                                                                       | CUSIP: 48123VAF9<br>LEI: 5493008OJYGLHD7MXA18 | Long             | DBT              | CORP              | US        |   1271000 | PA      | $1126182.26   | 0.01%             | 2030-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                          | Morgan Stanley Mortgage Loan Trust, Series 2006-2, Class 1A                                            | CUSIP: 61748HVE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    263992 | PA      | $235439.76    | 0.00%             | 2021-02-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                                            | IndyMac INDX Mortgage Loan Trust, Series 2007-AR21, Class 6A1                                          | CUSIP: 45670BAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4444449 | PA      | $3247457.38   | 0.03%             | 2037-09-25      | Variable      | 3.24%                 | No            |                  2 | On Loan: No      |
| Alliance Resource Operating Partners LP                                     | Alliance Resource Operating Partners LP                                                                | CUSIP: 01879NAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    407000 | PA      | $404366.71    | 0.00%             | 2025-05-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                         | EURO STOXX 50 Index                                                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |     -7004 | NC      | $-15890938.59 | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2006-2, Class 2A20                                               | CUSIP: 05949QBB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    182112 | PA      | $155167.05    | 0.00%             | 2036-03-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Uzbekneftegaz JSC                                                           | Uzbekneftegaz JSC                                                                                      | CUSIP: 91825MAB9<br>LEI: 213800LUZJZFLJD4MJ51 | Long             | DBT              | NUSS              | UZ        |   1350000 | PA      | $1130625.00   | 0.01%             | 2028-11-16      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| New Metro Global Ltd.                                                       | New Metro Global Ltd.                                                                                  | CUSIP: N/A<br>LEI: 549300HJRNTCANEH0D47       | Long             | DBT              | CORP              | VG        |   1300000 | PA      | $1033500.00   | 0.01%             | 2025-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Vodafone Group plc                                                          | Vodafone Group plc                                                                                     | CUSIP: 92857WBL3<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    188000 | PA      | $185613.35    | 0.00%             | 2038-05-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                                   | EQM Midstream Partners LP                                                                              | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   5356000 | PA      | $4530225.31   | 0.04%             | 2031-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PRET LLC                                                                    | PRET LLC, Series 2021-NPL6, Class A1                                                                   | CUSIP: 69362GAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     63287 | PA      | $59273.78     | 0.00%             | 2051-07-25      | Variable      | 2.49%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-93, Class SE                                                                         | CUSIP: 38380FAK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1939859 | PA      | $231697.73    | 0.00%             | 2047-06-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                     | Hyundai Capital America                                                                                | CUSIP: 44891ABU0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79450.40     | 0.00%             | 2023-04-03      | Fixed         | 0.80%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                         | Exeter Automobile Receivables Trust, Series 2020-1A, Class E                                           | CUSIP: 30167HAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2690000 | PA      | $2603149.32   | 0.03%             | 2027-01-15      | Fixed         | 3.74%                 | Yes           |                  2 | On Loan: No      |
| Rio Tinto Ltd.                                                              | Rio Tinto Ltd.                                                                                         | CUSIP: N/A<br>LEI: 529900X2VMAQT2PE0V24       | Long             | EC               | CORP              | AU        |    157299 | NS      | $14115593.12  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp. Pass-Through Certificates                 | Structured Asset Securities Corp. Pass-Through Certificates, Series 2002-AL1, Class A3                 | CUSIP: 86358RXZ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    933921 | PA      | $525686.69    | 0.01%             | 2032-02-25      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Trust                                                | Chase Mortgage Finance Trust, Series 2006-S4, Class A5                                                 | CUSIP: 16162YAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    812357 | PA      | $396706.27    | 0.00%             | 2036-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ingles Markets, Inc.                                                        | Ingles Markets, Inc.                                                                                   | CUSIP: 457030AK0<br>LEI: 549300XH5RYBMYP8TF26 | Long             | DBT              | CORP              | US        |    356000 | PA      | $306739.92    | 0.00%             | 2031-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Telenor ASA                                                                 | Telenor ASA                                                                                            | CUSIP: N/A<br>LEI: 549300IM1QSBY4SLPM26       | Long             | EC               | CORP              | NO        |    829198 | NS      | $8680555.11   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Mirvac Group                                                                | Mirvac Group                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   1986028 | NS      | $3208646.66   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5838000 | PA      | $5035275.00   | 0.05%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Videotron Ltd.                                                              | Videotron Ltd.                                                                                         | CUSIP: 92660FAN4<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |   3423000 | PA      | $2978198.64   | 0.03%             | 2029-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: —       |
| Fiserv, Inc.                                                                | Fiserv, Inc.                                                                                           | CUSIP: 337738AU2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    193000 | PA      | $179751.75    | 0.00%             | 2029-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: 53944YAB9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   5200000 | PA      | $5114565.35   | 0.05%             | 2026-03-24      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                  | Allison Transmission, Inc.                                                                             | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   7583000 | PA      | $7300684.91   | 0.07%             | 2029-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: —       |
| Paraguay Government International Bond                                      | Republic of Paraguay                                                                                   | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |    500000 | PA      | $493125.00    | 0.00%             | 2027-03-27      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| LegalShield                                                                 | LegalShield, 1st Lien Term Loan                                                                        | CUSIP: 74006LAS1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    327525 | PA      | $321875.19    | 0.00%             | 2028-12-15      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC                                      | Ardagh Metal Packaging Finance USA LLC                                                                 | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1737000 | PA      | $1732136.40   | 0.02%             | 2027-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Korea Development Bank (The)                                                | Korea Development Bank (The)                                                                           | CUSIP: 5006E3U73<br>LEI: 549300ML2LNRZUCS7149 | Long             | STIV             | CORP              | KR        |   1800000 | PA      | $1761919.65   | 0.02%             | 2023-07-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust, Inc.                                         | Citigroup Mortgage Loan Trust, Inc., Series 2005-OPT1, Class M4                                        | CUSIP: 17307GNU8<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-O            | CORP              | US        |    135659 | PA      | $133862.64    | 0.00%             | 2035-02-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Baker Hughes Holdings LLC                                                   | Baker Hughes Holdings LLC                                                                              | CUSIP: 05723KAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $149834.84    | 0.00%             | 2029-11-07      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| AerCap Holdings NV                                                          | AerCap Holdings NV                                                                                     | CUSIP: 00774YAA7<br>LEI: 549300SZYINBBLJQU475 | Long             | DBT              | CORP              | NL        |   5524000 | PA      | $5290776.72   | 0.05%             | 2079-10-10      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| FHLMC Multiclass Certificates                                               | FHLMC Multiclass Certificates, Series 2020-RR14, Class X                                               | CUSIP: 3137F85E9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   6200000 | PA      | $1015243.18   | 0.01%             | 2034-03-27      | Variable      | 2.13%                 | No            |                  2 | On Loan: No      |
| ICON Luxembourg SARL                                                        | ICON Luxembourg SARL, 1st Lien Term Loan B                                                             | CUSIP: L5000DAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    106359 | PA      | $106319.68    | 0.00%             | 2028-07-03      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Equity LifeStyle Properties, Inc.                                           | Equity LifeStyle Properties, Inc.                                                                      | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |       184 | NS      | $13207.52     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Ecuador                                                         | Republic of Ecuador                                                                                    | CUSIP: N/A<br>LEI: 5299003Y2U5XK0A35H71       | Long             | DBT              | NUSS              | EC        |   3110000 | PA      | $1509905.00   | 0.01%             | 2035-07-31      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YEZ4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2540000 | PA      | $2548820.40   | 0.02%             | 2027-01-28      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| Enova International, Inc.                                                   | Enova International, Inc.                                                                              | CUSIP: 29357KAF0<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    500000 | PA      | $475625.00    | 0.00%             | 2025-09-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Vodacom Group Ltd.                                                          | Vodacom Group Ltd.                                                                                     | CUSIP: N/A<br>LEI: 37890012A8DC24B8D663       | Long             | EC               | CORP              | ZA        |   1236521 | NS      | $8690092.74   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| NMI Holdings, Inc.                                                          | NMI Holdings, Inc.                                                                                     | CUSIP: 629209AA5<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |    411000 | PA      | $415644.30    | 0.00%             | 2025-06-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: 225313AJ4<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   9672000 | PA      | $9969800.88   | 0.10%             | 2025-12-23      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205AP9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   2100000 | PA      | $1832250.00   | 0.02%             | 2041-03-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Oak Street Investment Grade Net Lease Fund                                  | Oak Street Investment Grade Net Lease Fund, Series 2021-1A, Class B1                                   | CUSIP: 67190AAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1250000 | PA      | $1128537.25   | 0.01%             | 2051-01-20      | Fixed         | 4.23%                 | Yes           |                  2 | On Loan: No      |
| Legacy Mortgage Asset Trust                                                 | Legacy Mortgage Asset Trust, Series 2021-GS3, Class A2                                                 | CUSIP: 52474XAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2800000 | PA      | $2463984.60   | 0.02%             | 2061-07-25      | Variable      | 3.25%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   8599000 | PA      | $7439682.82   | 0.07%             | 2029-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Suzano Austria GmbH                                                         | Suzano Austria GmbH                                                                                    | CUSIP: 86964WAF9<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    550000 | PA      | $549835.00    | 0.01%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-6CB, Class 1A4                                                     | CUSIP: 12667F5F8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2215593 | PA      | $1910829.04   | 0.02%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series O                                                              | CUSIP: 38148BAC2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2755000 | PA      | $2709711.85   | 0.03%             | 2026-11-10      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: 25714PEF1<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |   1090000 | PA      | $926704.38    | 0.01%             | 2032-09-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Huarong Finance II Co. Ltd.                                                 | Huarong Finance II Co. Ltd.                                                                            | CUSIP: N/A<br>LEI: 549300BHVD63HE2GHX17       | Long             | DBT              | CORP              | VG        |    500000 | PA      | $458750.00    | 0.00%             | 2026-06-03      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Cellnex Telecom SA                                                          | Cellnex Telecom SA                                                                                     | CUSIP: N/A<br>LEI: 5493008T4YG3AQUI7P67       | Long             | DBT              | CORP              | ES        |   1200000 | PA      | $1082986.15   | 0.01%             | 2031-11-20      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    630000 | PA      | $567000.00    | 0.01%             | 2027-01-31      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| U.S. Renal Care, Inc.                                                       | U.S. Renal Care, Inc., 1st Lien Term Loan B                                                            | CUSIP: 90290PAN4<br>LEI: 54930058SS5MF69JGN89 | Long             | LON              | CORP              | US        |   3954050 | PA      | $2345581.94   | 0.02%             | 2026-06-26      | Variable      | 9.44%                 | No            |                  2 | On Loan: No      |
| TransCanada PipeLines Ltd.                                                  | TransCanada PipeLines Ltd.                                                                             | CUSIP: 89352HAX7<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    119000 | PA      | $113058.81    | 0.00%             | 2038-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2020-76, Class SL                                                                         | CUSIP: 38382EA72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5106656 | PA      | $534259.34    | 0.01%             | 2050-05-20      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                                         | Intesa Sanpaolo SpA                                                                                    | CUSIP: 46115HBU0<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   1463000 | PA      | $1510805.63   | 0.01%             | 2025-11-21      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Elevance Health, Inc.                                                       | Elevance Health, Inc.                                                                                  | CUSIP: 036752AL7<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    190000 | PA      | $171583.86    | 0.00%             | 2029-09-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Nexa Resources SA                                                           | Nexa Resources SA                                                                                      | CUSIP: N/A<br>LEI: 549300QRMRHM7GAU7L47       | Long             | DBT              | CORP              | LU        |    580000 | PA      | $560860.00    | 0.01%             | 2027-05-04      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Central Garden & Pet Co.                                                    | Central Garden & Pet Co.                                                                               | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |   3294000 | PA      | $2800888.20   | 0.03%             | 2030-10-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 78015K7M0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    718000 | PA      | $716332.24    | 0.01%             | 2024-01-19      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                          | General Motors Financial Co., Inc.                                                                     | CUSIP: 37045XDV5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65449.71     | 0.00%             | 2029-04-06      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities Trust                                  | Bear Stearns Asset-Backed Securities Trust, Series 2003-1, Class M1                                    | CUSIP: 07384YHA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     29138 | PA      | $36459.55     | 0.00%             | 2042-11-25      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                | Royal Caribbean Cruises Ltd.                                                                           | CUSIP: 780153BR2<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   3465000 | PA      | $3655124.55   | 0.04%             | 2029-01-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: —       |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   1767000 | PA      | $1462192.50   | 0.01%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-23CB, Class A15                                                    | CUSIP: 12667GMY6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1075921 | PA      | $877699.32    | 0.01%             | 2035-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-KF38, Class B                                                        | CUSIP: 30305MAG5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    631582 | PA      | $619272.78    | 0.01%             | 2024-09-25      | Floating      | 6.89%                 | Yes           |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-1F, Class 2A3                                                     | CUSIP: 36242DVF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    135229 | PA      | $100750.29    | 0.00%             | 2035-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Suzano Austria GmbH                                                         | Suzano Austria GmbH                                                                                    | CUSIP: 86964WAF9<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    350000 | PA      | $349895.00    | 0.00%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2020-R02, Class 2B1                                        | CUSIP: 20754WAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16158000 | PA      | $15107730.00  | 0.15%             | 2040-01-25      | Floating      | 7.51%                 | Yes           |                  2 | On Loan: No      |
| Telefonica Emisiones SA                                                     | Telefonica Emisiones SA                                                                                | CUSIP: 87938WAV5<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    308000 | PA      | $267778.96    | 0.00%             | 2038-03-06      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities Trust                                  | Bear Stearns Asset-Backed Securities Trust, Series 2004-SD4, Class A1                                  | CUSIP: 073879MC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    652642 | PA      | $612844.91    | 0.01%             | 2044-08-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Hologic, Inc.                                                               | Hologic, Inc.                                                                                          | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |   5323000 | PA      | $4683228.63   | 0.05%             | 2029-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                  | Allison Transmission, Inc.                                                                             | CUSIP: 019736AG2<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   3235000 | PA      | $2735613.05   | 0.03%             | 2031-01-30      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Elect Global Investments Ltd.                                               | Elect Global Investments Ltd.                                                                          | CUSIP: N/A<br>LEI: 254900MGJD77N8VPNK65       | Long             | DBT              | CORP              | VG        |    600000 | PA      | $569550.00    | 0.01%             | 2025-06-03      | Variable      | 4.10%                 | Yes           |                  2 | On Loan: No      |
| Republic of Iraq                                                            | Republic of Iraq                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | IQ        |   1387500 | PA      | $1282396.88   | 0.01%             | 2028-01-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| Triumph Group, Inc.                                                         | Triumph Group, Inc.                                                                                    | CUSIP: 896818AQ4<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |    525000 | PA      | $506743.34    | 0.00%             | 2024-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Xero Investments Ltd.                                                       | Xero Investments Ltd.                                                                                  | CUSIP: N/A<br>LEI: 25490002CIY32NFE4689       | Long             | DBT              | CORP              | NZ        |    916000 | PA      | $762112.00    | 0.01%             | 2025-12-02      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander Chile                                                       | Banco Santander Chile                                                                                  | CUSIP: 05965X109<br>LEI: 3YJP8HORPAEXJ80D6368 | Long             | EC               | CORP              | CL        |    118855 | NS      | $2009838.05   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2019-70, Class SM                                                                         | CUSIP: 38381VZ94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2283507 | PA      | $184385.24    | 0.00%             | 2049-06-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| PRET LLC                                                                    | PRET LLC, Series 2022-NPL2, Class A1                                                                   | CUSIP: 693971AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50870 | PA      | $49016.78     | 0.00%             | 2052-04-25      | Variable      | 5.24%                 | Yes           |                  2 | On Loan: No      |
| Anglo American plc                                                          | Anglo American plc                                                                                     | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |    228952 | NS      | $9874793.81   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Holley, Inc.                                                                | Holley, Inc., 1st Lien Term Loan B                                                                     | CUSIP: 43538JAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    461921 | PA      | $398406.61    | 0.00%             | 2028-11-17      | Variable      | 8.43%                 | No            |                  2 | On Loan: No      |
| GCI LLC                                                                     | GCI LLC                                                                                                | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |   9465000 | PA      | $8334311.10   | 0.08%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   2055000 | PA      | $1760908.95   | 0.02%             | 2031-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8212000 | PA      | $7785386.60   | 0.07%             | 2027-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                                    | UnitedHealth Group, Inc.                                                                               | CUSIP: 91324PER9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     65000 | PA      | $69272.71     | 0.00%             | 2033-02-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                               | Asbury Automotive Group, Inc.                                                                          | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    385000 | PA      | $336780.19    | 0.00%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BX                                                                          | BX, Series 2021-MFM1, Class G                                                                          | CUSIP: 05608VAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $702187.80    | 0.01%             | 2034-01-15      | Floating      | 8.36%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2006-A, Class 1A1                                                | CUSIP: 058927AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325754 | PA      | $302187.26    | 0.00%             | 2036-02-20      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| Hyundai Motor Manufacturing Indonesia PT                                    | Hyundai Motor Manufacturing Indonesia PT                                                               | CUSIP: N/A<br>LEI: 254900KOD0FA9PVF3N64       | Long             | DBT              | CORP              | ID        |    300000 | PA      | $260681.25    | 0.00%             | 2026-05-06      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-28CB, Class 6A1                                                    | CUSIP: 12667FYV1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    421971 | PA      | $386560.79    | 0.00%             | 2035-01-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Pembina Pipeline Corp.                                                      | Pembina Pipeline Corp.                                                                                 | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |    278496 | NS      | $9881474.70   | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Republic of Paraguay                                                        | Republic of Paraguay                                                                                   | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |    350000 | PA      | $346018.75    | 0.00%             | 2044-08-11      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| MH SUB I LLC                                                                | MH Sub I LLC, 1st Lien Term Loan                                                                       | CUSIP: 45567YAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    717325 | PA      | $709126.26    | 0.01%             | 2024-09-13      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| FWD Group Ltd.                                                              | FWD Group Ltd.                                                                                         | CUSIP: N/A<br>LEI: 254900DONRZV54KDYN04       | Long             | DBT              | CORP              | KY        |    300000 | PA      | $278587.50    | 0.00%             | 2024-09-13      | Variable      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Northland Power, Inc.                                                       | Northland Power, Inc.                                                                                  | CUSIP: 666511100<br>LEI: 549300IT8CIDW8V5KX72 | Long             | EC               | CORP              | CA        |     86533 | NS      | $2324369.19   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Ireland Group plc                                                   | Bank of Ireland Group plc                                                                              | CUSIP: 06279JAC3<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |   2100000 | PA      | $2116488.57   | 0.02%             | 2026-09-16      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-11, Class AS                                                                         | CUSIP: 38380CLL5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2026123 | PA      | $208469.22    | 0.00%             | 2047-01-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Deutsche Alt-A Securities, Inc. Mortgage Loan Trust                         | Deutsche Alt-A Securities, Inc., Mortgage Loan Trust, Series 2005-2, Class 2A1                         | CUSIP: 251510DQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3582 | PA      | $3565.72      | 0.00%             | 2020-03-25      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| Warrior Met Coal, Inc.                                                      | Warrior Met Coal, Inc.                                                                                 | CUSIP: 93627CAB7<br>LEI: 549300152B1S9YKBYV79 | Long             | DBT              | CORP              | US        |    976000 | PA      | $961360.00    | 0.01%             | 2028-12-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Varex Imaging Corp.                                                         | Varex Imaging Corp.                                                                                    | CUSIP: 92214XAC0<br>LEI: 549300CWYWPVCT8E9W67 | Long             | DBT              | CORP              | US        |    247000 | PA      | $245693.37    | 0.00%             | 2027-10-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Northern Oil and Gas, Inc.                                                  | Northern Oil and Gas, Inc.                                                                             | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |   1099000 | PA      | $1094691.92   | 0.01%             | 2028-03-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    303118 | NS      | $4389228.01   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                         | American Axle & Manufacturing, Inc.                                                                    | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   6440000 | PA      | $5940384.80   | 0.06%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Advanced Drainage Systems, Inc.                                             | Advanced Drainage Systems, Inc., 1st Lien Term Loan B                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    305957 | PA      | $306339.39    | 0.00%             | 2026-07-31      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                                      | Lendmark Funding Trust, Series 2021-1A, Class D                                                        | CUSIP: 52607MAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $888117.01    | 0.01%             | 2031-11-20      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| Northrop Grumman Corp.                                                      | Northrop Grumman Corp.                                                                                 | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      3221 | NS      | $1443136.84   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Montreal                                                            | Bank of Montreal                                                                                       | CUSIP: 06368EJS2<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    194000 | PA      | $193994.06    | 0.00%             | 2023-04-14      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| NN Group NV                                                                 | NN Group NV                                                                                            | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |     64376 | NS      | $2797013.36   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: 68205LAE3<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    625000 | PA      | $696210.94    | 0.01%             | 2032-10-28      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                                                | Ardagh Packaging Finance plc                                                                           | CUSIP: 03969AAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5084000 | PA      | $4163211.34   | 0.04%             | 2027-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Countrywide Partnership Trust                                               | Countrywide Partnership Trust, Series 2004-EC1, Class M2                                               | CUSIP: 126673MM1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    182837 | PA      | $183554.76    | 0.00%             | 2035-01-25      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                        | Mitsubishi UFJ Financial Group, Inc.                                                                   | CUSIP: 606822AZ7<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    504000 | PA      | $505230.07    | 0.00%             | 2023-07-26      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Hanwha Life Insurance Co. Ltd.                                              | Hanwha Life Insurance Co. Ltd.                                                                         | CUSIP: N/A<br>LEI: 988400ZKCI3R9DQHR320       | Long             | DBT              | CORP              | KR        |    600000 | PA      | $527737.50    | 0.01%             | 2032-02-04      | Variable      | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Telford Offshore Ltd.                                                       | Telford Offshore Ltd.                                                                                  | CUSIP: N/A<br>LEI: 254900ACC7Q7VVZK7Y27       | Long             | DBT              | CORP              | KY        |   1736023 | PA      | $868.01       | 0.00%             | 2164-12-31      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Rite Aid Corp.                                                              | Rite Aid Corp.                                                                                         | CUSIP: 767754CL6<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |   8786000 | PA      | $4898195.00   | 0.05%             | 2026-11-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JX54<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    750000 | PA      | $570375.00    | 0.01%             | 2032-05-29      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: —       |
| Crown Castle, Inc.                                                          | Crown Castle, Inc.                                                                                     | CUSIP: 22822VAW1<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    170000 | PA      | $139145.43    | 0.00%             | 2031-04-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| ENEOS Holdings, Inc.                                                        | ENEOS Holdings, Inc.                                                                                   | CUSIP: N/A<br>LEI: 3538001KQ5SAOZSQTT44       | Long             | EC               | CORP              | JP        |    503800 | NS      | $1803703.09   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PRPM LLC                                                                    | PRPM LLC, Series 2021-11, Class A2                                                                     | CUSIP: 69362QAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5269000 | PA      | $4894231.31   | 0.05%             | 2026-11-25      | Variable      | 4.58%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-148                                                                                  | CUSIP: 38380JBD9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   8344204 | PA      | $285738.94    | 0.00%             | 2059-07-16      | Variable      | 0.55%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2018-KF51, Class C                                                        | CUSIP: 30297GAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2802387 | PA      | $2657508.63   | 0.03%             | 2025-08-25      | Floating      | 10.39%                | Yes           |                  2 | On Loan: No      |
| CTR Partnership LP                                                          | CTR Partnership LP                                                                                     | CUSIP: 126458AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    561000 | PA      | $502325.01    | 0.00%             | 2028-06-30      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Elevance Health, Inc.                                                       | Elevance Health, Inc.                                                                                  | CUSIP: 036752AX1<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     20000 | PA      | $22764.22     | 0.00%             | 2052-10-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   4316040 | PA      | $1329340.32   | 0.01%             | 2035-07-09      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| LG Uplus Corp.                                                              | LG Uplus Corp.                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |    276414 | NS      | $2499678.30   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.                                 | Taiwan Semiconductor Manufacturing Co. Ltd.                                                            | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     42548 | NS      | $3945476.04   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-K729, Class B                                                        | CUSIP: 30306HAS9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1400000 | PA      | $1348783.66   | 0.01%             | 2049-11-25      | Variable      | 3.67%                 | Yes           |                  2 | On Loan: No      |
| Shinhan Bank Co. Ltd.                                                       | Shinhan Bank Co. Ltd.                                                                                  | CUSIP: N/A<br>LEI: 5493003P813VL21KG928       | Long             | DBT              | CORP              | KR        |    350000 | PA      | $329721.88    | 0.00%             | 2028-03-26      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The)                                                                            | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |    185495 | NS      | $12834293.86  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner, Inc.                                                               | Gartner, Inc.                                                                                          | CUSIP: 366651AE7<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    710000 | PA      | $629237.50    | 0.01%             | 2030-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Hughes Satellite Systems Corp.                                              | Hughes Satellite Systems Corp.                                                                         | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4309000 | PA      | $4167320.08   | 0.04%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                                  | Australia & New Zealand Banking Group Ltd.                                                             | CUSIP: 05253CZF6<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | STIV             | CORP              | AU        |   1225000 | PA      | $1171902.17   | 0.01%             | 2023-12-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2016-157                                                                                  | CUSIP: 38379U2A3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  10159663 | PA      | $440599.19    | 0.00%             | 2057-11-16      | Variable      | 0.89%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2018-KF50, Class B                                                        | CUSIP: 35709BAC9<br>LEI: 549300LI8XT0ZWPV2P54 | Long             | ABS-MBS          | USGSE             | US        |    292590 | PA      | $265483.96    | 0.00%             | 2028-07-25      | Floating      | 6.29%                 | Yes           |                  2 | On Loan: No      |
| Summit Materials LLC                                                        | Summit Materials LLC                                                                                   | CUSIP: 86614RAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    912000 | PA      | $856358.88    | 0.01%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Big River Steel LLC                                                         | Big River Steel LLC                                                                                    | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1672000 | PA      | $1639879.89   | 0.02%             | 2029-01-31      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Freenet AG                                                                  | Freenet AG                                                                                             | CUSIP: N/A<br>LEI: 5299003GLDODCVP8DO20       | Long             | EC               | CORP              | DE        |    208676 | NS      | $5072756.89   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix, Inc.                                                              | SK Hynix, Inc.                                                                                         | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | DBT              | CORP              | KR        |    250000 | PA      | $219485.00    | 0.00%             | 2026-01-19      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                                                | Intelsat Jackson Holdings SA, 1st Lien Term Loan                                                       | CUSIP: L5137LAQ8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    781314 | PA      | $768399.20    | 0.01%             | 2029-02-01      | Variable      | 7.44%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc., Series U                                                                     | CUSIP: 156700AT3<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    772000 | PA      | $513040.32    | 0.00%             | 2042-03-15      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                                    | Bristol-Myers Squibb Co.                                                                               | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    524113 | NS      | $38076809.45  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Novatek Microelectronics Corp.                                              | Novatek Microelectronics Corp.                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    903000 | NS      | $10752806.02  | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Shift4 Payments, Inc.                                                       | Shift4 Payments, Inc.                                                                                  | CUSIP: 82452JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    544000 | PA      | $485520.00    | 0.00%             | 2027-08-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Group AG                                                      | Credit Suisse Group AG                                                                                 | CUSIP: 225401AM0<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   2035000 | PA      | $1860987.25   | 0.02%             | 2025-09-11      | Variable      | 2.59%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |   1180000 | PA      | $1204927.50   | 0.01%             | 2029-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-21CB, Class A4                                                     | CUSIP: 12667GKD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    488119 | PA      | $381603.92    | 0.00%             | 2035-06-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Republic of Ghana                                                           | Republic of Ghana                                                                                      | CUSIP: N/A<br>LEI: 213800PP4399SNNXZ126       | Long             | DBT              | NUSS              | GH        |   1890000 | PA      | $678037.50    | 0.01%             | 2049-06-16      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2014-CR19, Class D                                                   | CUSIP: 12592GAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $357479.24    | 0.00%             | 2047-08-10      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Eli Lilly & Co.                                                             | Eli Lilly & Co.                                                                                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      5712 | NS      | $1965784.80   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings, Inc.                                                | Zimmer Biomet Holdings, Inc.                                                                           | CUSIP: 98956PAV4<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |     39000 | PA      | $32711.49     | 0.00%             | 2031-11-24      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: 65412JAC7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     90000 | PA      | $73800.00     | 0.00%             | 2027-11-28      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Mortgage-Backed Securities Trust                                | Wells Fargo Mortgage-Backed Securities Trust, Series 2007-15, Class A1                                 | CUSIP: 949797AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    117672 | PA      | $98058.64     | 0.00%             | 2037-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                      | Tenet Healthcare Corp.                                                                                 | CUSIP: 88033GCZ1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  22644000 | PA      | $22054576.68  | 0.21%             | 2026-01-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2017-BNK5, Class D                                                                        | CUSIP: 06541WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8500000 | PA      | $6242107.60   | 0.06%             | 2060-06-15      | Variable      | 3.08%                 | Yes           |                  2 | On Loan: No      |
| Cox Communications, Inc.                                                    | Cox Communications, Inc.                                                                               | CUSIP: 224044CF2<br>LEI: 5493001NEDZNIFRP2R92 | Long             | DBT              | CORP              | US        |    190000 | PA      | $175827.71    | 0.00%             | 2035-02-01      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2005-1, Class 1A1                                                              | CUSIP: 45254NML8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    222503 | PA      | $203619.66    | 0.00%             | 2035-04-25      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-10, Class 11A1                             | CUSIP: 225470FQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    571781 | PA      | $72991.59     | 0.00%             | 2020-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ultra Resources, Inc.                                                       | Ultra Resources, Inc., 1st Lien Term Loan B                                                            | CUSIP: L1802PAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    594663 | PA      | $586189.52    | 0.01%             | 2029-08-03      | Variable      | 7.06%                 | No            |                  2 | On Loan: No      |
| Link REIT                                                                   | Link                                                                                                   | CUSIP: N/A<br>LEI: 529900XUE70U36QX5M62       | Long             | EC               | CORP              | HK        |    718900 | NS      | $5754339.79   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2005-1, Class 2A2                                       | CUSIP: 59020UVJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    131337 | PA      | $116436.37    | 0.00%             | 2035-04-25      | Variable      | 3.17%                 | No            |                  2 | On Loan: No      |
| Berry Petroleum Co. LLC                                                     | Berry Petroleum Co. LLC                                                                                | CUSIP: 08580BAA4<br>LEI: DQ2XTZKV7SILNNV77403 | Long             | DBT              | CORP              | US        |    407000 | PA      | $389677.62    | 0.00%             | 2026-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-147, Class SD                                                                        | CUSIP: 38381AFR2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5960940 | PA      | $621653.35    | 0.01%             | 2048-10-20      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| Nippon Prologis REIT, Inc.                                                  | Nippon Prologis REIT, Inc.                                                                             | CUSIP: N/A<br>LEI: 353800PHBMSDLAFURY41       | Long             | EC               | CORP              | JP        |       922 | NS      | $2092148.69   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Consolidated Edison, Inc.                                                   | Consolidated Edison, Inc., Series A                                                                    | CUSIP: 209115AE4<br>LEI: 54930033SBW53OO8T749 | Long             | DBT              | CORP              | US        |    478000 | PA      | $460893.66    | 0.00%             | 2023-12-01      | Fixed         | 0.65%                 | No            |                  2 | On Loan: No      |
| Government of Mongolia                                                      | State of Mongolia                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | MN        |   1000000 | PA      | $822610.00    | 0.01%             | 2031-07-07      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2016-C35, Class D                                        | CUSIP: 95000FAC0<br>LEI: 549300MZIB10PDVAE312 | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $3651164.00   | 0.04%             | 2048-07-15      | Fixed         | 3.14%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   1413000 | PA      | $1332064.77   | 0.01%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Hays plc                                                                    | Hays plc                                                                                               | CUSIP: N/A<br>LEI: 213800QC8AWD4BO8TH08       | Long             | EC               | CORP              | GB        |   1290732 | NS      | $1969333.99   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Lenovo Group Ltd.                                                           | Lenovo Group Ltd.                                                                                      | CUSIP: 526250AD7<br>LEI: 254900VUZRGD5U73RE46 | Long             | DBT              | CORP              | HK        |   1300000 | PA      | $1313429.00   | 0.01%             | 2028-01-27      | Fixed         | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Mellon Capital IV                                                           | Mellon Capital IV, Series 1                                                                            | CUSIP: 58551TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2027000 | PA      | $1744032.97   | 0.02%             | 2023-03-09      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2021-5, Class B1                                                      | CUSIP: 12598RAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3903000 | PA      | $2816797.05   | 0.03%             | 2066-11-26      | Variable      | 4.13%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCB6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   1605000 | PA      | $1561817.80   | 0.02%             | 2026-08-04      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 91911KAN2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |  12626000 | PA      | $10738791.78  | 0.10%             | 2025-11-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| J M Smucker Co. (The)                                                       | J M Smucker Co. (The)                                                                                  | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |     33717 | NS      | $5151957.60   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Infrastructure Holdings Ltd.                                             | CK Infrastructure Holdings Ltd.                                                                        | CUSIP: N/A<br>LEI: 5299005U11RQ1C27MR12       | Long             | EC               | CORP              | BM        |    457500 | NS      | $2545327.01   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                       | NextEra Energy Capital Holdings, Inc.                                                                  | CUSIP: 65339KBK5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   4282000 | PA      | $4085974.07   | 0.04%             | 2079-05-01      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                                | AbbVie, Inc.                                                                                           | CUSIP: 00287YCA5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    166000 | PA      | $149565.16    | 0.00%             | 2039-11-21      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Cigna Corp.                                                                 | Cigna Corp.                                                                                            | CUSIP: 125523AH3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    387000 | PA      | $383789.14    | 0.00%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-11, Class SA                                                                         | CUSIP: 38380UWS8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2167854 | PA      | $217446.12    | 0.00%             | 2048-01-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2019-16, Class SB                                                                         | CUSIP: 38381RGE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3593959 | PA      | $363854.55    | 0.00%             | 2049-02-20      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| Goodman Group                                                               | Goodman Group                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    209310 | NS      | $2985511.18   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Cigna Corp.                                                                 | Cigna Corp.                                                                                            | CUSIP: 125523AC4<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    295000 | PA      | $295731.36    | 0.00%             | 2023-07-15      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Envision Healthcare Corp.                                                   | Envision Healthcare Corp.                                                                              | CUSIP: 29373TAA2<br>LEI: 549300OL60X0LPKY8N60 | Long             | DBT              | CORP              | US        |   7419000 | PA      | $1998868.16   | 0.02%             | 2026-10-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Energuate Trust                                                             | Energuate Trust                                                                                        | CUSIP: N/A<br>LEI: 549300RVM37LH8GY7E41       | Long             | DBT              | CORP              | KY        |   1147000 | PA      | $1093807.88   | 0.01%             | 2027-05-03      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| SVB Financial Group                                                         | SVB Financial Group, Series D                                                                          | CUSIP: 78486QAP6<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $1836320.00   | 0.02%             | 2026-11-15      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-HYB2, Class 2A1B                                          | CUSIP: 126694D21<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    477892 | PA      | $424915.32    | 0.00%             | 2036-04-20      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| Aramark Services, Inc.                                                      | Aramark Services, Inc.                                                                                 | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   4640000 | PA      | $4373200.00   | 0.04%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| Vistra Operations Co. LLC                                                   | Vistra Operations Co. LLC                                                                              | CUSIP: 92840VAA0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    202000 | PA      | $196736.44    | 0.00%             | 2026-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                                  | Australia & New Zealand Banking Group Ltd.                                                             | CUSIP: 05253CWC6<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | STIV             | CORP              | AU        |   1412000 | PA      | $1369766.77   | 0.01%             | 2023-09-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Champion Path Holdings Ltd.                                                 | Champion Path Holdings Ltd.                                                                            | CUSIP: N/A<br>LEI: 549300QWJFPV5413KI88       | Long             | DBT              | CORP              | VG        |    700000 | PA      | $606725.00    | 0.01%             | 2028-01-27      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| Bolsa Mexicana de Valores SAB de CV                                         | Bolsa Mexicana de Valores SAB de CV                                                                    | CUSIP: N/A<br>LEI: 894500CS2D6RLGW61A19       | Long             | EC               | CORP              | MX        |    474253 | NS      | $1029829.54   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Properties LP                                                        | Boston Properties LP                                                                                   | CUSIP: 10112RBF0<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    160000 | PA      | $121938.74    | 0.00%             | 2033-10-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Banco Santander Chile                                                       | Banco Santander Chile                                                                                  | CUSIP: 05965X109<br>LEI: 3YJP8HORPAEXJ80D6368 | Long             | EC               | CORP              | CL        |    196175 | NS      | $3317319.25   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Volkswagen Group of America Finance LLC                                     | Volkswagen Group of America Finance LLC                                                                | CUSIP: 928668AR3<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    462000 | PA      | $458172.71    | 0.00%             | 2023-11-13      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   1852000 | PA      | $1382981.00   | 0.01%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| Leslie's Poolmart, Inc.                                                     | Leslie's Poolmart, Inc., 1st Lien Term Loan B                                                          | CUSIP: 52706YAJ2<br>LEI: 549300MZRH1GJYUMRM83 | Long             | LON              | CORP              | US        |    793531 | PA      | $789896.39    | 0.01%             | 2028-03-09      | Variable      | 7.23%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                                                 | McGraw-Hill Education, Inc.                                                                            | CUSIP: 57767XAA8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |   3950000 | PA      | $3470606.79   | 0.03%             | 2028-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                                         | Macquarie Bank Ltd.                                                                                    | CUSIP: 55607LYF5<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | AU        |   1000000 | PA      | $960072.00    | 0.01%             | 2023-11-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Inner Mongolia Yili Industrial Group Co. Ltd.                               | Inner Mongolia Yili Industrial Group Co. Ltd., Class A                                                 | CUSIP: N/A<br>LEI: 3003002Q2A863JPQFH06       | Long             | EC               | CORP              | CN        |   4003106 | NS      | $19347391.95  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: 65412JAC7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    380000 | PA      | $311600.00    | 0.00%             | 2027-11-28      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| First Horizon Alternative Mortgage Securities Trust                         | First Horizon Alternative Mortgage Securities Trust, Series 2006-FA6, Class 3A1                        | CUSIP: 32052FBD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15127 | PA      | $11250.02     | 0.00%             | 2021-11-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                       | OneMain Finance Corp.                                                                                  | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   4023000 | PA      | $3919488.21   | 0.04%             | 2028-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2014-C21, Class D                                   | CUSIP: 46642EAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2049000 | PA      | $1793195.26   | 0.02%             | 2047-08-15      | Variable      | 4.64%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11520000 | PA      | $9928800.00   | 0.10%             | 2026-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Cummins, Inc.                                                               | Cummins, Inc.                                                                                          | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     25358 | NS      | $6327835.32   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2019-INV3, Class B1                                                 | CUSIP: 92537MAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4194699.00   | 0.04%             | 2059-11-25      | Variable      | 3.73%                 | Yes           |                  2 | On Loan: No      |
| Intel Corp.                                                                 | Intel Corp.                                                                                            | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    162059 | NS      | $4579787.34   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-17, Class A2                                              | CUSIP: 17025AAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    286482 | PA      | $121437.08    | 0.00%             | 2036-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280CU1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   6545000 | PA      | $6369624.76   | 0.06%             | 2024-08-17      | Variable      | 0.73%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AL1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   3262000 | PA      | $1476055.00   | 0.01%             | 2031-02-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties LP                                                          | VICI Properties LP                                                                                     | CUSIP: 92564RAJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4882000 | PA      | $4856369.50   | 0.05%             | 2027-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Partners LP                                                         | Buckeye Partners LP                                                                                    | CUSIP: 118230AT8<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   3620000 | PA      | $3439000.00   | 0.03%             | 2025-03-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                                                | Mizuho Financial Group, Inc.                                                                           | CUSIP: 60687YBD0<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |   1140000 | PA      | $1059686.97   | 0.01%             | 2026-05-25      | Variable      | 2.23%                 | No            |                  2 | On Loan: No      |
| Trans Union LLC                                                             | Trans Union LLC, Term Loan B-6                                                                         | CUSIP: 89334GAZ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    545281 | PA      | $543792.34    | 0.01%             | 2028-12-01      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| Boyne USA, Inc.                                                             | Boyne USA, Inc.                                                                                        | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3261903.05   | 0.03%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies Holdings, Inc.                                            | SS&C Technologies Holdings, Inc., 1st Lien Term Loan B-3                                               | CUSIP: 78466DBD5<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |    281043 | PA      | $280340.71    | 0.00%             | 2025-04-16      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| News Corp.                                                                  | News Corp.                                                                                             | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $1967735.00   | 0.02%             | 2032-02-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Korea Gas Corp.                                                             | Korea Gas Corp.                                                                                        | CUSIP: N/A<br>LEI: 988400TFZILHBD5M3R71       | Long             | EC               | CORP              | KR        |     36899 | NS      | $1002137.22   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| New Century Home Equity Loan Trust                                          | New Century Home Equity Loan Trust, Series 2004-2, Class M2                                            | CUSIP: 64352VGB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     94706 | PA      | $92332.54     | 0.00%             | 2034-08-25      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| Jeronimo Martins SGPS SA                                                    | Jeronimo Martins SGPS SA                                                                               | CUSIP: N/A<br>LEI: 259400A8SZP10GB5IB19       | Long             | EC               | CORP              | PT        |     69532 | NS      | $1509590.19   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| International Business Machines Corp.                                       | International Business Machines Corp.                                                                  | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     64706 | NS      | $8717839.38   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Univision Communications, Inc.                                              | Univision Communications, Inc.                                                                         | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1421000.00   | 0.01%             | 2027-06-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16546000 | PA      | $14457729.34  | 0.14%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Vista Outdoor, Inc.                                                         | Vista Outdoor, Inc.                                                                                    | CUSIP: 928377AC4<br>LEI: 549300QI2D33ESTJLN81 | Long             | DBT              | CORP              | US        |   7402000 | PA      | $5995620.00   | 0.06%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN21, Class F                                                                        | CUSIP: 06540BAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1037803.00   | 0.01%             | 2052-10-17      | Fixed         | 2.68%                 | Yes           |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2021-4, Class B2                                          | CUSIP: 24381JAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6508000 | PA      | $4269480.99   | 0.04%             | 2066-11-25      | Variable      | 4.48%                 | Yes           |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA                                       | Banque Federative du Credit Mutuel SA                                                                  | CUSIP: 06675FAV9<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   1515000 | PA      | $1446900.67   | 0.01%             | 2024-02-27      | Fixed         | 0.65%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-65, Class SE                                                                         | CUSIP: 38380WK32<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3789911 | PA      | $433777.31    | 0.00%             | 2048-05-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| BlackRock, Inc.                                                             | BlackRock, Inc.                                                                                        | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |      3846 | NS      | $2919921.66   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp.                                                                   | CSX Corp.                                                                                              | CUSIP: 126408HQ9<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |     75000 | PA      | $65658.98     | 0.00%             | 2030-02-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Chase Funding Trust                                                         | Chase Funding Trust, Series 2003-4, Class 1A5                                                          | CUSIP: 161546FV3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    556876 | PA      | $533718.88    | 0.01%             | 2033-05-25      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Atlantica Sustainable Infrastructure plc                                    | Atlantica Sustainable Infrastructure plc                                                               | CUSIP: N/A<br>LEI: 549300ITBBGKJ651R879       | Long             | EC               | CORP              | GB        |     84415 | NS      | $2314659.30   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC, 1st Lien Term Loan B-3                                                                    | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    325000 | PA      | $269912.50    | 0.00%             | 2028-01-31      | Variable      | 9.82%                 | No            |                  2 | On Loan: No      |
| Julius Baer Group Ltd.                                                      | Julius Baer Group Ltd.                                                                                 | CUSIP: N/A<br>LEI: 5299007MF0604ZGJER92       | Long             | EC               | CORP              | CH        |     48164 | NS      | $3089449.23   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BPCE SA                                                                     | BPCE SA                                                                                                | CUSIP: 05583JAN2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    996000 | PA      | $1008632.04   | 0.01%             | 2027-01-18      | Variable      | 5.97%                 | Yes           |                  2 | On Loan: No      |
| Wuliangye Yibin Co. Ltd.                                                    | Wuliangye Yibin Co. Ltd., Class A                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    472900 | NS      | $14719221.48  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2005-A6, Class 1A2                                                     | CUSIP: 466247TM5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    147907 | PA      | $136303.74    | 0.00%             | 2035-09-25      | Variable      | 4.11%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-146, Class S                                                                         | CUSIP: 38381AHW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2095235 | PA      | $229953.72    | 0.00%             | 2048-10-20      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The)                                                                                      | CUSIP: 428040DB2<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |   3952000 | PA      | $3230760.00   | 0.03%             | 2029-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Phillips 66                                                                 | Phillips 66                                                                                            | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     69536 | NS      | $6972374.72   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Chailease Holding Co. Ltd.                                                  | Chailease Holding Co. Ltd.                                                                             | CUSIP: N/A<br>LEI: 529900L76E6T0JCM3J27       | Long             | EC               | CORP              | KY        |    384487 | NS      | $2897547.82   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCL4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    500000 | PA      | $326200.00    | 0.00%             | 2048-02-12      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-WMC2, Class M2                                   | CUSIP: 61746RHT1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125200 | PA      | $122860.38    | 0.00%             | 2034-07-25      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                                                | Mizuho Financial Group, Inc.                                                                           | CUSIP: 60687YBF5<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |   2824000 | PA      | $2770685.11   | 0.03%             | 2024-07-10      | Variable      | 1.24%                 | No            |                  2 | On Loan: No      |
| WP Carey, Inc.                                                              | WP Carey, Inc.                                                                                         | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |    135680 | NS      | $11604710.40  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                        | FNMA ACES, Series 2016-M4, Class X2                                                                    | CUSIP: 3136ARP44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6931845 | PA      | $106261.71    | 0.00%             | 2039-01-25      | Variable      | 2.67%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2019-B11, Class D                                                     | CUSIP: 08162BAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $2693986.00   | 0.03%             | 2052-05-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2021-3, Class B1                                          | CUSIP: 24381VAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $3196044.00   | 0.03%             | 2066-08-25      | Variable      | 3.27%                 | Yes           |                  2 | On Loan: No      |
| Parexel International Corp.                                                 | Parexel International Corp., 1st Lien Term Loan                                                        | CUSIP: 71911KAC8<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |   4887055 | PA      | $4843169.33   | 0.05%             | 2028-11-15      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2016-120, Class NS                                                                        | CUSIP: 38380ATU1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5041613 | PA      | $667871.54    | 0.01%             | 2046-09-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| UniCredit SpA                                                               | UniCredit SpA                                                                                          | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | DBT              | CORP              | IT        |    202000 | PA      | $172738.55    | 0.00%             | 2027-06-03      | Variable      | 3.88%                 | Yes           |                  2 | On Loan: No      |
| BHP Group Ltd.                                                              | BHP Group Ltd.                                                                                         | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |    135741 | NS      | $4760927.54   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| PRPM LLC                                                                    | PRPM LLC, Series 2020-4, Class A2                                                                      | CUSIP: 69359XAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7000000 | PA      | $6780986.80   | 0.07%             | 2025-10-25      | Variable      | 3.44%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                                   | Telecom Italia Capital SA                                                                              | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |   4901000 | PA      | $3932488.89   | 0.04%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SASCO Mortgage Loan Trust                                                   | SASCO Mortgage Loan Trust, Series 2004-GEL3, Class M1                                                  | CUSIP: 80382UAS2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    521250 | PA      | $513477.08    | 0.00%             | 2034-08-25      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Japan Metropolitan Fund Invest                                              | Japan Metropolitan Fund Invest                                                                         | CUSIP: N/A<br>LEI: 353800QDHNIP60E1LQ93       | Long             | EC               | CORP              | JP        |      4961 | NS      | $3835272.15   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Danone SA                                                                   | Danone SA                                                                                              | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               | CORP              | FR        |     76824 | NS      | $4212973.46   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayer US Finance II LLC                                                     | Bayer US Finance II LLC                                                                                | CUSIP: 07274NAN3<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185483.49    | 0.00%             | 2038-06-25      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Alternative Loan Trust                                             | JPMorgan Alternative Loan Trust, Series 2006-A2, Class 1A1                                             | CUSIP: 46628GAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2404523 | PA      | $2001401.47   | 0.02%             | 2036-05-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Sprint LLC                                                                  | Sprint LLC                                                                                             | CUSIP: 85207UAF2<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |  10601000 | PA      | $10758668.67  | 0.10%             | 2023-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Cogent Communications Group, Inc.                                           | Cogent Communications Group, Inc.                                                                      | CUSIP: 19240CAC7<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1055474.70   | 0.01%             | 2026-05-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Parent, Inc.                                        | Frontier Communications Parent, Inc.                                                                   | CUSIP: 35909D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    154586 | NS      | $4577291.46   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Paramount Global                                                            | Paramount Global                                                                                       | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |  10664000 | PA      | $9237690.00   | 0.09%             | 2057-02-28      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Elanco Animal Health, Inc.                                                  | Elanco Animal Health, Inc.                                                                             | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |    575000 | PA      | $561315.00    | 0.01%             | 2028-08-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-85CB, Class 3A2                                                    | CUSIP: 12668BEZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     76292 | PA      | $69426.42     | 0.00%             | 2021-02-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Gulfport Energy Corp.                                                       | Gulfport Energy Corp.                                                                                  | CUSIP: 402635601<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EP               | CORP              | US        |       319 | NS      | $1552877.49   | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Next plc                                                                    | Next plc                                                                                               | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |     25379 | NS      | $2077885.94   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                                                   | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10093000 | PA      | $9153997.34   | 0.09%             | 2027-08-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2017-1, Class SA                                                                   | CUSIP: 3136AVAJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2746924 | PA      | $311004.26    | 0.00%             | 2047-02-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class D                                       | CUSIP: 94989VAZ2<br>LEI: 549300ZVNWG0TX42H716 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $815173.00    | 0.01%             | 2057-09-15      | Fixed         | 3.15%                 | Yes           |                  2 | On Loan: No      |
| Ancestry.com, Inc.                                                          | Ancestry.com, Inc., 1st Lien Term Loan B                                                               | CUSIP: 03952HAD6<br>LEI: 2549009ADY4208OH2Y47 | Long             | LON              | CORP              | US        |    607747 | PA      | $586099.39    | 0.01%             | 2027-12-06      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |     93000 | PA      | $90576.19     | 0.00%             | 2044-04-30      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                             | Live Nation Entertainment, Inc.                                                                        | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7038766.00   | 0.07%             | 2027-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-KF33, Class B                                                        | CUSIP: 30303CAG9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    566071 | PA      | $555391.45    | 0.01%             | 2027-06-25      | Floating      | 6.94%                 | Yes           |                  2 | On Loan: No      |
| Bank Tabungan Negara Persero Tbk. PT                                        | Bank Tabungan Negara Persero Tbk. PT                                                                   | CUSIP: N/A<br>LEI: 2549009BLYOGL9ZLAW17       | Long             | DBT              | NUSS              | ID        |   2200000 | PA      | $2046242.00   | 0.02%             | 2025-01-23      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| Thyssenkrupp Elevator                                                       | Thyssenkrupp Elevator, 1st Lien Term Loan B-1                                                          | CUSIP: D9000BAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2712584 | PA      | $2661342.93   | 0.03%             | 2027-07-30      | Variable      | 6.87%                 | No            |                  2 | On Loan: No      |
| LMA-Americas LLC                                                            | LMA SA                                                                                                 | CUSIP: 53944RUJ5<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $976900.00    | 0.01%             | 2023-07-18      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Government of Mongolia                                                      | State of Mongolia                                                                                      | CUSIP: 60937LAG0<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |    640000 | PA      | $668870.40    | 0.01%             | 2028-01-19      | Fixed         | 8.65%                 | Yes           |                  2 | On Loan: No      |
| GSK plc                                                                     | GSK plc                                                                                                | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |    737173 | NS      | $12948472.26  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic Services, Inc.                                                     | Republic Services, Inc.                                                                                | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     10683 | NS      | $1333452.06   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries, Inc.                                                      | Dycom Industries, Inc.                                                                                 | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |   5847000 | PA      | $5234526.75   | 0.05%             | 2029-04-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                                        | Prime Security Services Borrower LLC                                                                   | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1906000 | PA      | $1691290.47   | 0.02%             | 2027-08-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Iren SpA                                                                    | Iren SpA                                                                                               | CUSIP: N/A<br>LEI: 8156001EBD33FD474E60       | Long             | EC               | CORP              | IT        |   1075755 | NS      | $1948289.42   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CAS Capital No. 1 Ltd.                                                      | CAS Capital No. 1 Ltd.                                                                                 | CUSIP: N/A<br>LEI: 254900REJZW5L9QRTD85       | Long             | DBT              | CORP              | VG        |   2700000 | PA      | $2384100.00   | 0.02%             | 2026-07-12      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Bangkok Bank PCL                                                            | Bangkok Bank PCL                                                                                       | CUSIP: N/A<br>LEI: 549300CCL2BKJGMYXV60       | Long             | DBT              | CORP              | TH        |   1600000 | PA      | $1538000.00   | 0.01%             | 2025-09-23      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                             | Santander UK Group Holdings plc                                                                        | CUSIP: 80281LAM7<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $224276.42    | 0.00%             | 2026-08-21      | Variable      | 1.53%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                                                      | Encompass Health Corp.                                                                                 | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2688336.00   | 0.03%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2018-BN14, Class F                                                                        | CUSIP: 06035RBB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1534000 | PA      | $798675.57    | 0.01%             | 2060-09-15      | Fixed         | 3.94%                 | Yes           |                  2 | On Loan: No      |
| Berkeley Group Holdings plc                                                 | Berkeley Group Holdings plc                                                                            | CUSIP: N/A<br>LEI: 2138009OQSSLVVHQAL78       | Long             | EC               | CORP              | GB        |     54071 | NS      | $2768851.24   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                         | American Axle & Manufacturing, Inc.                                                                    | CUSIP: 02406PAY6<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   3979000 | PA      | $3729756.08   | 0.04%             | 2026-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2004-7, Class 1A2                                                              | CUSIP: 45254NKG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    251733 | PA      | $247056.65    | 0.00%             | 2034-11-25      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                                      | Mineral Resources Ltd.                                                                                 | CUSIP: 603051AA1<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    150000 | PA      | $151125.00    | 0.00%             | 2027-05-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| INEOS Enterprises Holdings Ltd.                                             | INEOS Enterprises Holdings Ltd., 1st Lien Term Loan B                                                  | CUSIP: G4770QAJ4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    526376 | PA      | $518480.78    | 0.00%             | 2026-08-28      | Variable      | 8.23%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                          | Energy Transfer LP, Series E                                                                           | CUSIP: 29273V605<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |    163460 | NS      | $3923040.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-55, Class AS                                                                         | CUSIP: 38376MW94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1212254 | PA      | $140064.26    | 0.00%             | 2047-04-20      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| Apple, Inc.                                                                 | Apple, Inc.                                                                                            | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      5431 | NS      | $783638.99    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TK Elevator US Newco, Inc.                                                  | TK Elevator US Newco, Inc.                                                                             | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |   3720000 | PA      | $3443120.40   | 0.03%             | 2027-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2006-1F, Class 2A16                                                    | CUSIP: 362334AN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    519557 | PA      | $271319.41    | 0.00%             | 2036-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First Student Bidco, Inc.                                                   | First Student Bidco, Inc., 1st Lien Term Loan C                                                        | CUSIP: 33718FAF7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    273364 | PA      | $263385.86    | 0.00%             | 2028-07-21      | Variable      | 8.68%                 | No            |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                                                  | Edgewell Personal Care Co.                                                                             | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |   3762000 | PA      | $3277642.50   | 0.03%             | 2029-04-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                             | Live Nation Entertainment, Inc.                                                                        | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   5760000 | PA      | $5328000.00   | 0.05%             | 2027-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Sysco Corp.                                                                 | Sysco Corp.                                                                                            | CUSIP: 871829BF3<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    265000 | PA      | $250553.11    | 0.00%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-P3, Class CERT                                  | CUSIP: 52604XAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $2383529.25   | 0.02%             | 2037-05-15      | Fixed         | 11.88%                | Yes           |                  3 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 78015DZC7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | STIV             | CORP              | CA        |    333000 | PA      | $318507.01    | 0.00%             | 2023-12-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                                            | Clarivate Science Holdings Corp.                                                                       | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2441000 | PA      | $2178110.16   | 0.02%             | 2028-07-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Centex Home Equity Loan Trust                                               | Centex Home Equity Loan Trust, Series 2004-D, Class MF3                                                | CUSIP: 152314LP3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1639931 | PA      | $1535665.32   | 0.01%             | 2034-09-25      | Variable      | 5.76%                 | No            |                  2 | On Loan: No      |
| PRET LLC                                                                    | PRET LLC, Series 2021-NPL6, Class A2                                                                   | CUSIP: 69362GAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6250000 | PA      | $5700811.25   | 0.05%             | 2051-07-25      | Variable      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| British American Tobacco plc                                                | British American Tobacco plc                                                                           | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |     40452 | NS      | $1550679.83   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TripAdvisor, Inc.                                                           | TripAdvisor, Inc.                                                                                      | CUSIP: 896945AD4<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |    672000 | PA      | $566832.00    | 0.01%             | 2026-04-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Pinduoduo, Inc.                                                             | Pinduoduo, Inc.                                                                                        | CUSIP: 722304AC6<br>LEI: 5493000573DS7005T657 | Long             | DBT              | CORP              | KY        |   1120000 | PA      | $1079680.00   | 0.01%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carpenter Technology Corp.                                                  | Carpenter Technology Corp.                                                                             | CUSIP: 144285AL7<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |   1466000 | PA      | $1444010.00   | 0.01%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2016-CR28, Class D                                                   | CUSIP: 12593YBN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1350000 | PA      | $1151891.15   | 0.01%             | 2049-02-10      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Digital Core REIT Management Pte. Ltd.                                      | Digital Core REIT Management Pte. Ltd.                                                                 | CUSIP: N/A<br>LEI: 549300IIGO612K0POE26       | Long             | EC               | CORP              | SG        |   2467400 | NS      | $1559497.35   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Go Daddy Operating Co. LLC                                                  | Go Daddy Operating Co. LLC                                                                             | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1106944.00   | 0.01%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                                     | Chesapeake Energy Corp.                                                                                | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     53501 | NS      | $4639606.72   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Altice France SA                                                            | Altice France SA                                                                                       | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   3219000 | PA      | $3017619.36   | 0.03%             | 2027-02-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Go Daddy Operating Co. LLC                                                  | Go Daddy Operating Co. LLC, 1st Lien Term Loan B-5                                                     | CUSIP: 38017BAT3<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |    450000 | PA      | $451183.50    | 0.00%             | 2029-11-09      | Variable      | 7.81%                 | No            |                  2 | On Loan: No      |
| FirstRand Ltd.                                                              | FirstRand Ltd.                                                                                         | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |   1123358 | NS      | $4173947.22   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-54                                                                                   | CUSIP: 38379RSG9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3539709 | PA      | $134991.75    | 0.00%             | 2058-12-16      | Variable      | 0.69%                 | No            |                  2 | On Loan: No      |
| Home Equity Mortgage Loan Asset-Backed Trust                                | Home Equity Mortgage Loan Asset-Backed Trust, Series 2004-B, Class M2                                  | CUSIP: 456606FB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    352855 | PA      | $339350.14    | 0.00%             | 2034-11-25      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series U                                                              | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1718000 | PA      | $1493972.80   | 0.01%             | 2026-08-10      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                                            | Sabre GLBL, Inc.                                                                                       | CUSIP: 78573NAF9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |   2755000 | PA      | $2702288.61   | 0.03%             | 2025-09-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2005-2, Class 1A2                                                              | CUSIP: 45254NMZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260824 | PA      | $238236.61    | 0.00%             | 2035-04-25      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                                  | Avis Budget Car Rental LLC                                                                             | CUSIP: 053773BE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2855000 | PA      | $2683521.56   | 0.03%             | 2027-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Minerals Technologies, Inc.                                                 | Minerals Technologies, Inc.                                                                            | CUSIP: 603158AA4<br>LEI: 549300D3I1QU67GP6403 | Long             | DBT              | CORP              | US        |    265000 | PA      | $242342.50    | 0.00%             | 2028-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254BY5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   3655000 | PA      | $3496949.98   | 0.03%             | 2025-01-12      | Variable      | 0.99%                 | Yes           |                  2 | On Loan: No      |
| Southern California Edison Co.                                              | Southern California Edison Co., Series E                                                               | CUSIP: 842400FU2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   2040000 | PA      | $2014500.00   | 0.02%             | 2023-03-09      | Floating      | 8.64%                 | No            |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                                | Scotts Miracle-Gro Co. (The)                                                                           | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   2754000 | PA      | $2230740.00   | 0.02%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| RWT Holdings, Inc.                                                          | RWT Holdings, Inc.                                                                                     | CUSIP: 749772AD1<br>LEI: Z31FN4C0IQMCYFAEUP31 | Long             | DBT              | CORP              | US        |    313000 | PA      | $277130.05    | 0.00%             | 2025-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NextEra Energy, Inc.                                                        | NextEra Energy, Inc.                                                                                   | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    157444 | NS      | $11750045.72  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp.                                                         | Regal Rexnord Corp.                                                                                    | CUSIP: 758750AE3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   1822000 | PA      | $1857825.99   | 0.02%             | 2030-02-15      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: —       |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83368RBQ4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   2735000 | PA      | $2806808.63   | 0.03%             | 2027-01-12      | Variable      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| Petroleos del Peru SA                                                       | Petroleos del Peru SA                                                                                  | CUSIP: 716564AA7<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | NUSS              | PE        |    900000 | PA      | $686250.00    | 0.01%             | 2032-06-19      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc                                                                                      | CUSIP: 06742T3C8<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | STIV             | CORP              | GB        |    734000 | PA      | $735793.32    | 0.01%             | 2023-12-07      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Petroleos del Peru SA                                                       | Petroleos del Peru SA                                                                                  | CUSIP: N/A<br>LEI: 549300ZMGDLC9JT2OR80       | Long             | DBT              | NUSS              | PE        |    600000 | PA      | $401700.00    | 0.00%             | 2047-06-19      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Hanesbrands, Inc.                                                           | Hanesbrands, Inc.                                                                                      | CUSIP: 410345AL6<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |    960000 | PA      | $894000.00    | 0.01%             | 2026-05-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| Dornoch Debt Merger Sub, Inc.                                               | Dornoch Debt Merger Sub, Inc.                                                                          | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2736000 | PA      | $2054295.15   | 0.02%             | 2029-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Senegal                                                         | Republic of Senegal                                                                                    | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |    650000 | PA      | $485875.00    | 0.00%             | 2048-03-13      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   3110000 | PA      | $2613457.40   | 0.03%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Transocean Guardian Ltd.                                                    | Transocean Guardian Ltd.                                                                               | CUSIP: 893800AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    760476 | PA      | $771184.52    | 0.01%             | 2024-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| American International Group, Inc.                                          | American International Group, Inc., Series A-9                                                         | CUSIP: 026874DM6<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |   1908000 | PA      | $1876995.00   | 0.02%             | 2048-04-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, STRIPS, Series 337, Class S1                                                                    | CUSIP: 31325VL36<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1291697 | PA      | $144760.87    | 0.00%             | 2044-09-15      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GLA5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1037381.30   | 0.01%             | 2026-07-22      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| Jackson Park Trust                                                          | Jackson Park Trust, Series 2019-LIC, Class F                                                           | CUSIP: 46868RAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4170000 | PA      | $2909477.81   | 0.03%             | 2039-10-14      | Variable      | 3.24%                 | Yes           |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                                    | Wynn Resorts Finance LLC                                                                               | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6290000 | PA      | $5613825.00   | 0.05%             | 2029-10-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                       | OneMain Finance Corp.                                                                                  | CUSIP: 85172FAM1<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1106514.60   | 0.01%             | 2025-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Sun Communities, Inc.                                                       | Sun Communities, Inc.                                                                                  | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     89369 | NS      | $14018421.34  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ILFC E-Capital Trust II                                                     | ILFC E-Capital Trust II                                                                                | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | SN               | CORP              | US        |   2205000 | PA      | $1464325.11   | 0.01%             | 2065-12-21      | Floating      | 6.54%                 | Yes           |                  2 | On Loan: No      |
| Tempur Sealy International, Inc.                                            | Tempur Sealy International, Inc.                                                                       | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |   3055000 | PA      | $2517045.05   | 0.02%             | 2031-10-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: N/A<br>LEI: 529900LOP29R5WKHOD86       | Long             | DBT              | NUSS              | PK        |    400000 | PA      | $164044.00    | 0.00%             | 2031-04-08      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Bell Telephone Co. of Canada or Bell Canada (The)                           | Bell Canada, Inc.                                                                                      | CUSIP: 07787QPE0<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | CA        |    690000 | PA      | $688770.50    | 0.01%             | 2023-02-14      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-12CB, Class 2A1                                                    | CUSIP: 12667FJP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     95462 | PA      | $94530.46     | 0.00%             | 2034-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mallinckrodt International Finance SA                                       | Mallinckrodt International Finance SA                                                                  | CUSIP: 561233AK3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   2037000 | PA      | $1166182.50   | 0.01%             | 2029-06-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: —       |
| La Francaise des Jeux SAEM                                                  | La Francaise des Jeux SAEM                                                                             | CUSIP: N/A<br>LEI: 969500R4CLSQFTYYI535       | Long             | EC               | CORP              | FR        |     58542 | NS      | $2504894.81   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| DISH Network Corp.                                                          | DISH Network Corp.                                                                                     | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |  10635000 | PA      | $11051892.00  | 0.11%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: —       |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-13, Class A4                                              | CUSIP: 17025JAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    212799 | PA      | $113999.79    | 0.00%             | 2037-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    970000 | PA      | $1005344.38   | 0.01%             | 2026-01-26      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2020-5, Class B2                                                    | CUSIP: 92538CAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1154756.54   | 0.01%             | 2065-05-25      | Variable      | 4.71%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GLE7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2375000 | PA      | $2383728.91   | 0.02%             | 2027-01-20      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                     | Bath & Body Works, Inc.                                                                                | CUSIP: 501797AM6<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   2350000 | PA      | $2125410.50   | 0.02%             | 2036-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2016-1, Class SJ                                                                   | CUSIP: 3136AQC57<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27027 | PA      | $3290.37      | 0.00%             | 2046-02-25      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                      | Velocity Commercial Capital Loan Trust, Series 2018-2, Class M2                                        | CUSIP: 92259BAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    161672 | PA      | $137666.82    | 0.00%             | 2048-10-26      | Variable      | 4.51%                 | Yes           |                  2 | On Loan: No      |
| Sonic Healthcare Ltd.                                                       | Sonic Healthcare Ltd.                                                                                  | CUSIP: N/A<br>LEI: 549300NQQ5L2NONWR862       | Long             | EC               | CORP              | AU        |    148411 | NS      | $3324045.63   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                 | Capital One Financial Corp.                                                                            | CUSIP: 14040HCK9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   4335000 | PA      | $4188044.84   | 0.04%             | 2024-12-06      | Variable      | 1.34%                 | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Holdings, Inc.                                          | Nationstar Mortgage Holdings, Inc.                                                                     | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    430000 | PA      | $398825.00    | 0.00%             | 2027-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: 456837AR4<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   2360000 | PA      | $2233102.80   | 0.02%             | 2026-11-16      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Blue Racer Midstream LLC                                                    | Blue Racer Midstream LLC                                                                               | CUSIP: 095796AH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1522000 | PA      | $1545781.25   | 0.01%             | 2025-12-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Triton Water Holdings, Inc.                                                 | Triton Water Holdings, Inc.                                                                            | CUSIP: 89680EAA7<br>LEI: 5493005IYCEL7QJFZZ63 | Long             | DBT              | CORP              | US        |   2758000 | PA      | $2189186.55   | 0.02%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: —       |
| Minejesa Capital BV                                                         | Minejesa Capital BV                                                                                    | CUSIP: N/A<br>LEI: 549300KS7ERCP10BKC35       | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $865500.00    | 0.01%             | 2037-08-10      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2022-R01, Class 1B2                                        | CUSIP: 20754LAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11437000 | PA      | $10296702.51  | 0.10%             | 2041-12-25      | Floating      | 10.31%                | Yes           |                  2 | On Loan: No      |
| Compass Group plc                                                           | Compass Group plc                                                                                      | CUSIP: N/A<br>LEI: 2138008M6MH9OZ6U2T68       | Long             | EC               | CORP              | GB        |    143296 | NS      | $3423058.10   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| China Resources Land Ltd.                                                   | China Resources Land Ltd.                                                                              | CUSIP: N/A<br>LEI: 5299001HL0TU7X15HK51       | Long             | EC               | CORP              | KY        |   2136000 | NS      | $10236901.75  | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AL3<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |    529000 | PA      | $509519.58    | 0.00%             | 2026-06-26      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, (linked to Nasdaq 100 Index)                                                 | CUSIP: 83370G656<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |      8818 | PA      | $106670464.20 | 1.03%             | 2023-03-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                                             | Moran Foods LLC, 1st Lien Term Loan                                                                    | CUSIP: 61647DAN2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3668914 | PA      | $3041162.59   | 0.03%             | 2026-06-30      | Variable      | 11.93%                | No            |                  3 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2005-QS17, Class A3                                                                 | CUSIP: 761118PS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    560842 | PA      | $480198.94    | 0.00%             | 2035-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                                          | Vodafone Group plc                                                                                     | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |   2083398 | NS      | $2403854.36   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Metso Outotec OYJ                                                           | Metso Outotec OYJ                                                                                      | CUSIP: N/A<br>LEI: 549300R0VN9C371W0E07       | Long             | EC               | CORP              | FI        |    228949 | NS      | $2631282.02   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co. LP                                                 | Penske Truck Leasing Co. LP                                                                            | CUSIP: 709599AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997534.24    | 0.01%             | 2023-03-14      | Fixed         | 2.70%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                         | New Residential Mortgage Loan Trust, Series 2019-NQM5, Class B1                                        | CUSIP: 64830PAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2041000 | PA      | $1695195.62   | 0.02%             | 2059-11-25      | Variable      | 4.04%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                         | New Residential Mortgage Loan Trust, Series 2019-NQM4, Class B1                                        | CUSIP: 64828EAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2043313.50   | 0.02%             | 2059-09-25      | Variable      | 3.74%                 | Yes           |                  2 | On Loan: No      |
| S&P Global, Inc.                                                            | S&P Global, Inc.                                                                                       | CUSIP: 78409VBC7<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    130000 | PA      | $115165.75    | 0.00%             | 2032-03-01      | Fixed         | 2.90%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325DQ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    190000 | PA      | $133866.88    | 0.00%             | 2049-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYG3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2103000 | PA      | $1856920.13   | 0.02%             | 2027-09-10      | Variable      | 1.54%                 | No            |                  2 | On Loan: —       |
| Antero Midstream Partners LP                                                | Antero Midstream Partners LP                                                                           | CUSIP: 03690EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3974000 | PA      | $4078317.50   | 0.04%             | 2026-05-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    950000 | PA      | $823175.00    | 0.01%             | 2031-05-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Transcanada Trust                                                           | Transcanada Trust, Series 16-A                                                                         | CUSIP: 89356BAB4<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   5204000 | PA      | $5059849.20   | 0.05%             | 2076-08-15      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| GSAMP Trust                                                                 | GSAMP Trust, Series 2003-HE1, Class M1                                                                 | CUSIP: 36228FSU1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    964978 | PA      | $953570.11    | 0.01%             | 2033-06-20      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| MYT Holding Co.                                                             | MYT Holding Co.                                                                                        | CUSIP: 55406N103<br>LEI: 549300853MX08B1AUK51 | Long             | EC               | CORP              | US        |   1342068 | NS      | $1027711.39   | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C24, Class D                           | CUSIP: 61765LAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6000000 | PA      | $5008675.80   | 0.05%             | 2048-05-15      | Fixed         | 3.26%                 | Yes           |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                            | Goodyear Tire & Rubber Co. (The)                                                                       | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   2862000 | PA      | $2521221.66   | 0.02%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2006-4, Class 3CB4                                      | CUSIP: 05950AAR7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    435994 | PA      | $378409.08    | 0.00%             | 2046-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Entegris Escrow Corp.                                                       | Entegris Escrow Corp.                                                                                  | CUSIP: 29365BAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4993000 | PA      | $4679632.18   | 0.04%             | 2029-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CommScope Technologies LLC                                                  | CommScope Technologies LLC                                                                             | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |   4030000 | PA      | $3816530.90   | 0.04%             | 2025-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: —       |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR22, Class E                                                   | CUSIP: 12592XAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $1977169.00   | 0.02%             | 2048-03-10      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| AP Moller - Maersk A/S                                                      | AP Moller - Maersk A/S, Class B                                                                        | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |      1638 | NS      | $3563129.70   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                                      | Mercedes-Benz Group AG                                                                                 | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |     80833 | NS      | $6014947.49   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series N                                                                        | CUSIP: 06051GJQ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1061110.82   | 0.01%             | 2027-03-11      | Variable      | 1.66%                 | No            |                  2 | On Loan: No      |
| MetLife, Inc.                                                               | MetLife, Inc., Series G                                                                                | CUSIP: 59156RCA4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   7815000 | PA      | $7437623.26   | 0.07%             | 2025-09-15      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   3156000 | PA      | $2726720.88   | 0.03%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-10, Class 1A16                                            | CUSIP: 1266942N7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1031046 | PA      | $504024.39    | 0.00%             | 2036-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                  | Prudential Financial, Inc.                                                                             | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   3685000 | PA      | $3437736.50   | 0.03%             | 2052-03-01      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   3102000 | PA      | $2414604.56   | 0.02%             | 2032-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967NE7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     55000 | PA      | $45025.46     | 0.00%             | 2032-11-03      | Variable      | 2.52%                 | No            |                  2 | On Loan: No      |
| Elisa OYJ                                                                   | Elisa OYJ                                                                                              | CUSIP: N/A<br>LEI: 743700TU2S3DXWGU7H32       | Long             | EC               | CORP              | FI        |     96227 | NS      | $5482354.29   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                         | Regal Rexnord Corp.                                                                                    | CUSIP: 758750AF0<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   2552000 | PA      | $2616630.91   | 0.03%             | 2033-04-15      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Danske Bank A/S                                                             | Danske Bank A/S                                                                                        | CUSIP: 23636ABF7<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |   1395000 | PA      | $1416369.11   | 0.01%             | 2026-01-09      | Variable      | 6.47%                 | Yes           |                  2 | On Loan: No      |
| NCR Corp.                                                                   | NCR Corp.                                                                                              | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   4324000 | PA      | $3766438.53   | 0.04%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CommScope, Inc.                                                             | CommScope, Inc.                                                                                        | CUSIP: 20338QAD5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   5840000 | PA      | $5590924.00   | 0.05%             | 2026-03-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Embecta Corp.                                                               | Embecta Corp.                                                                                          | CUSIP: 29082KAA3<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41187.50     | 0.00%             | 2030-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| McAfee Corp.                                                                | McAfee Corp.                                                                                           | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |    864000 | PA      | $717636.07    | 0.01%             | 2030-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| ReNew Power Pvt Ltd.                                                        | ReNew Power Pvt Ltd.                                                                                   | CUSIP: N/A<br>LEI: 335800BITJZHVZ1CN475       | Long             | DBT              | CORP              | IN        |    200000 | PA      | $190600.00    | 0.00%             | 2027-03-05      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                                     | Santander Bank Auto Credit-Linked Notes, Series 2022-C, Class E                                        | CUSIP: 80290CBJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    239505 | PA      | $239562.84    | 0.00%             | 2032-12-15      | Fixed         | 11.37%                | Yes           |                  2 | On Loan: No      |
| Carpenter Technology Corp.                                                  | Carpenter Technology Corp.                                                                             | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |    870000 | PA      | $892968.00    | 0.01%             | 2030-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Nationwide Building Society                                                 | Nationwide Building Society                                                                            | CUSIP: N/A<br>LEI: 549300XFX12G42QIKN82       | Long             | DBT              | CORP              | GB        |   4470000 | PA      | $5077941.05   | 0.05%             | 2027-06-20      | Variable      | 5.75%                 | Yes           |                  2 | On Loan: No      |
| UGI Corp.                                                                   | UGI Corp.                                                                                              | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     67753 | NS      | $2698601.99   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                      | Mauser Packaging Solutions Holding Co.                                                                 | CUSIP: 57763RAB3<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |  13235000 | PA      | $13350806.25  | 0.13%             | 2026-08-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| American Express Co.                                                        | American Express Co.                                                                                   | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     17389 | NS      | $3041857.77   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Group, Inc.                                                         | Triumph Group, Inc.                                                                                    | CUSIP: 896818AS0<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |    203000 | PA      | $206045.00    | 0.00%             | 2024-06-01      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| M/I Homes, Inc.                                                             | M/I Homes, Inc.                                                                                        | CUSIP: 55305BAV3<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |    853000 | PA      | $717594.78    | 0.01%             | 2030-02-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series Q012, Class X                         | CUSIP: 3137FVNQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  23174432 | PA      | $4487883.93   | 0.04%             | 2035-09-25      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: 05675M2D5<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |    481000 | PA      | $435305.00    | 0.00%             | 2032-09-16      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Cincinnati Bell, Inc.                                                       | Cincinnati Bell, Inc., 1st Lien Term Loan B-2                                                          | CUSIP: 17187MAS9<br>LEI: 549300JYVZOCUJOHL272 | Long             | LON              | CORP              | US        |    582854 | PA      | $579456.38    | 0.01%             | 2028-11-22      | Variable      | 7.91%                 | No            |                  2 | On Loan: No      |
| Stericycle, Inc.                                                            | Stericycle, Inc.                                                                                       | CUSIP: 858912AG3<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |   1821000 | PA      | $1615700.46   | 0.02%             | 2029-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Country Garden Holdings Co. Ltd.                                            | Country Garden Holdings Co. Ltd.                                                                       | CUSIP: N/A<br>LEI: 549300MGHLPT1EFHGF84       | Long             | DBT              | CORP              | KY        |    800000 | PA      | $599000.00    | 0.01%             | 2026-04-08      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series L                                                                        | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      2154 | NS      | $2680006.80   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Mortgage LLC                                                         | Rocket Mortgage LLC                                                                                    | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2729000 | PA      | $2433080.89   | 0.02%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565CE2<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1311917.67   | 0.01%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Hokkaido Electric Power Co., Inc.                                           | Hokkaido Electric Power Co., Inc.                                                                      | CUSIP: N/A<br>LEI: 353800XDXIIZDHUO0J51       | Long             | EC               | CORP              | JP        |    329500 | NS      | $1218971.25   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-32CB, Class 2A5                                                    | CUSIP: 12667FP74<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1531428 | PA      | $1408984.53   | 0.01%             | 2035-02-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Embarq Corp.                                                                | Embarq Corp.                                                                                           | CUSIP: 29078EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5823000 | PA      | $2809888.65   | 0.03%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                                    | Svenska Handelsbanken AB, Class A                                                                      | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | EC               | CORP              | SE        |    233070 | NS      | $2430459.27   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Pike Corp.                                                                  | Pike Corp., Delayed Draw Term Loan B                                                                   | CUSIP: 72108PAR5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | LON              | CORP              | US        |    755962 | PA      | $752748.80    | 0.01%             | 2028-01-21      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                                             | Nordea Bank Abp                                                                                        | CUSIP: 65559CAA9<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   6265000 | PA      | $6178856.25   | 0.06%             | 2026-03-26      | Variable      | 6.63%                 | Yes           |                  2 | On Loan: No      |
| Numericable US LLC                                                          | Numericable US LLC, 1st Lien Term Loan B                                                               | CUSIP: F6628DAL8<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |    430658 | PA      | $413431.32    | 0.00%             | 2026-01-31      | Variable      | 8.52%                 | No            |                  2 | On Loan: No      |
| AVI Ltd.                                                                    | AVI Ltd.                                                                                               | CUSIP: N/A<br>LEI: 378900C2D68805FAAF75       | Long             | EC               | CORP              | ZA        |    233165 | NS      | $995224.57    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Merlin Properties Socimi SA                                                 | Merlin Properties Socimi SA                                                                            | CUSIP: N/A<br>LEI: 959800L8KD863DP30X04       | Long             | EC               | CORP              | ES        |    188505 | NS      | $1842198.15   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Digital Realty Trust, Inc.                                                  | Digital Realty Trust, Inc.                                                                             | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     48617 | NS      | $5572480.54   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-R3, Class B1                                                   | CUSIP: 92538EAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $1760822.25   | 0.02%             | 2064-04-25      | Variable      | 3.07%                 | Yes           |                  2 | On Loan: No      |
| Camden Property Trust                                                       | Camden Property Trust                                                                                  | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     55748 | NS      | $6868711.08   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                                                        | Edison International                                                                                   | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |    102991 | NS      | $7096079.90   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Chase Funding Trust                                                         | Chase Funding Trust, Series 2003-5, Class 1M2                                                          | CUSIP: 161546GN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    115362 | PA      | $96240.31     | 0.00%             | 2032-09-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2018-C43, Class D                                        | CUSIP: 95001LAC6<br>LEI: 549300RVQJTKIK3XGD11 | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $853837.50    | 0.01%             | 2051-03-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                                     | Molina Healthcare, Inc.                                                                                | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41919.00     | 0.00%             | 2032-05-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Delivery Hero SE                                                            | Delivery Hero SE, Series A                                                                             | CUSIP: N/A<br>LEI: 529900C3EX1FZGE48X78       | Long             | DBT              | CORP              | DE        |    300000 | PA      | $258861.94    | 0.00%             | 2026-04-30      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Global Payments, Inc.                                                       | Global Payments, Inc.                                                                                  | CUSIP: 37940XAB8<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    195000 | PA      | $173185.15    | 0.00%             | 2029-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Man Group plc                                                               | Man Group plc                                                                                          | CUSIP: N/A<br>LEI: 2549003YWC1DW6LALB09       | Long             | EC               | CORP              | JE        |    937041 | NS      | $2882766.42   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                                          | Cinemark USA, Inc.                                                                                     | CUSIP: 172441BC0<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018453.09   | 0.01%             | 2025-05-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc., 1st Lien Term Loan                                                         | CUSIP: 45174UAF5<br>LEI: 54930076J6KDZL504O62 | Long             | LON              | CORP              | US        |   4076666 | PA      | $4008708.35   | 0.04%             | 2026-05-01      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| Just Eat Takeaway.com NV                                                    | Just Eat Takeaway.com NV, Series B                                                                     | CUSIP: N/A<br>LEI: 724500FVZIBSSQ7SHI95       | Long             | DBT              | CORP              | NL        |    600000 | PA      | $457619.21    | 0.00%             | 2028-02-09      | Fixed         | 0.62%                 | Yes           |                  2 | On Loan: No      |
| Johnson & Johnson                                                           | Johnson & Johnson                                                                                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    279319 | NS      | $45646310.98  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| B&G Foods, Inc.                                                             | B&G Foods, Inc., 1st Lien Term Loan B                                                                  | CUSIP: 05508TAU6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    433062 | PA      | $414024.13    | 0.00%             | 2026-10-10      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658BG6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    742000 | PA      | $776065.22    | 0.01%             | 2026-02-01      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: 90352JAF0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3179000 | PA      | $3159035.88   | 0.03%             | 2024-01-31      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2007-4, Class 8A1                                                | CUSIP: 05953YBY6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     52449 | PA      | $34077.18     | 0.00%             | 2034-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dell International LLC                                                      | Dell International LLC                                                                                 | CUSIP: 24703DBJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    388000 | PA      | $391238.73    | 0.00%             | 2028-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR15, Class A1A1                            | CUSIP: 92922F5T1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     25592 | PA      | $23320.42     | 0.00%             | 2045-11-25      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Emera, Inc.                                                                 | Emera, Inc., Series 16-A                                                                               | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |  18724000 | PA      | $18389461.66  | 0.18%             | 2076-06-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                                           | American Electric Power Co., Inc                                                                       | CUSIP: 0255E3UL0<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | STIV             | CORP              | US        |    250000 | PA      | $243771.39    | 0.00%             | 2023-07-20      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Tokyo Gas Co. Ltd.                                                          | Tokyo Gas Co. Ltd.                                                                                     | CUSIP: N/A<br>LEI: 353800678EIJLOQSWZ83       | Long             | EC               | CORP              | JP        |     38200 | NS      | $799896.72    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                                           | Merck & Co., Inc.                                                                                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    295373 | NS      | $31726013.93  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Genesis Energy LP                                                           | Genesis Energy LP                                                                                      | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3566000 | PA      | $3446111.08   | 0.03%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |   2424507 | NS      | $5573437.95   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               | CORP              | GB        |   7286314 | NS      | $4741902.84   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Federation des Caisses Desjardins du Quebec                                 | Federation des caisses Desjardins du Quebec (The)                                                      | CUSIP: 31428GRB1<br>LEI: 549300B2Q47IR0CR5B54 | Long             | STIV             | CORP              | CA        |   1850000 | PA      | $1833334.07   | 0.02%             | 2023-04-11      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| AT&T, Inc.                                                                  | AT&T, Inc.                                                                                             | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    504885 | NS      | $10284507.45  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-28CB, Class 4A1                                                    | CUSIP: 12667FYT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5984 | PA      | $4238.30      | 0.00%             | 2020-01-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                             | Live Nation Entertainment, Inc.                                                                        | CUSIP: 538034AN9<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   5302000 | PA      | $5144212.48   | 0.05%             | 2026-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                                        | Prime Security Services Borrower LLC, 1st Lien Term Loan B                                             | CUSIP: 03765VAK6<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |   1121391 | PA      | $1119876.99   | 0.01%             | 2026-09-23      | Variable      | 7.52%                 | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2388000 | PA      | $2113857.60   | 0.02%             | 2027-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| AIB Group plc                                                               | AIB Group plc                                                                                          | CUSIP: 00135TAC8<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | NUSS              | IE        |   2810000 | PA      | $2908102.41   | 0.03%             | 2026-10-14      | Variable      | 7.58%                 | Yes           |                  2 | On Loan: No      |
| CARLYLE US CLO Ltd.                                                         | CARLYLE US CLO Ltd., Series 2018-1A, Class A1                                                          | CUSIP: 14311XAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2050000 | PA      | $2029592.25   | 0.02%             | 2031-04-20      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                 | Allied Universal Holdco LLC, 1st Lien Term Loan B                                                      | CUSIP: 01957TAH0<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    512522 | PA      | $493497.51    | 0.00%             | 2028-05-12      | Variable      | 8.41%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc., Series P                                                                     | CUSIP: 156700AM8<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    709000 | PA      | $478142.51    | 0.00%             | 2039-09-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: —       |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBC3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   8142000 | PA      | $7859907.14   | 0.08%             | 2026-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Rexel SA                                                                    | Rexel SA                                                                                               | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62       | Long             | EC               | CORP              | FR        |    108145 | NS      | $2392426.98   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, STRIPS, Series 326, Class S2                                                                    | CUSIP: 31325VB94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2271065 | PA      | $247682.38    | 0.00%             | 2044-03-15      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GJG5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3125000 | PA      | $2913868.84   | 0.03%             | 2025-09-25      | Variable      | 0.98%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                                    | UnitedHealth Group, Inc.                                                                               | CUSIP: 91324PEJ7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59144.66     | 0.00%             | 2032-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-AR4, Class 4A1                             | CUSIP: 22541SFB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    876438 | PA      | $878983.17    | 0.01%             | 2034-05-25      | Variable      | 3.59%                 | No            |                  2 | On Loan: No      |
| AECOM                                                                       | AECOM                                                                                                  | CUSIP: 00774CAB3<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    469000 | PA      | $460839.40    | 0.00%             | 2027-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-120, Class QS                                                                        | CUSIP: 38380GSN5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2177292 | PA      | $234791.06    | 0.00%             | 2047-08-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Consilio                                                                    | Consilio, 1st Lien Term Loan B                                                                         | CUSIP: 36171NAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    780125 | PA      | $754287.26    | 0.01%             | 2028-05-12      | Variable      | 8.57%                 | No            |                  2 | On Loan: No      |
| NESCO Holdings II, Inc.                                                     | NESCO Holdings II, Inc.                                                                                | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |   1187000 | PA      | $1066056.57   | 0.01%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K066, Class X3                        | CUSIP: 3137F2LM6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  20000122 | PA      | $1583069.66   | 0.02%             | 2045-08-25      | Variable      | 2.16%                 | No            |                  2 | On Loan: No      |
| Pfizer, Inc.                                                                | Pfizer, Inc.                                                                                           | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     42566 | NS      | $1879714.56   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                                                         | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    104564 | NS      | $7181651.05   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                         | Cineworld Group                                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DO               |  | GB        |     16758 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: 53944YAL7<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   3180000 | PA      | $3114480.42   | 0.03%             | 2025-07-09      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Commercial Mortgage Securities Trust                         | JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP3, Class D                          | CUSIP: 46590RAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $3330913.50   | 0.03%             | 2049-08-15      | Variable      | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: 25714PED6<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |    790000 | PA      | $686707.50    | 0.01%             | 2030-01-30      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    674000 | PA      | $645890.83    | 0.01%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Open Text Holdings, Inc.                                                    | Open Text Holdings, Inc.                                                                               | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    201000 | PA      | $169257.42    | 0.00%             | 2030-02-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967NA5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    815000 | PA      | $725770.51    | 0.01%             | 2027-06-09      | Variable      | 1.46%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                                                      | Encompass Health Corp.                                                                                 | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   2565000 | PA      | $2351232.90   | 0.02%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Halozyme Therapeutics, Inc.                                                 | Halozyme Therapeutics, Inc.                                                                            | CUSIP: 40637HAD1<br>LEI: 529900242I3SV9AGM753 | Long             | DBT              | CORP              | US        |    469000 | PA      | $439101.25    | 0.00%             | 2027-03-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| LABL, Inc.                                                                  | LABL, Inc.                                                                                             | CUSIP: 50168AAA8<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    954000 | PA      | $907492.50    | 0.01%             | 2027-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2018-CD7, Class D                                                            | CUSIP: 12512JAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1361866.20   | 0.01%             | 2051-08-15      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| DT Auto Owner Trust                                                         | DT Auto Owner Trust, Series 2022-3A, Class C                                                           | CUSIP: 23345RAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    935000 | PA      | $969344.33    | 0.01%             | 2028-07-17      | Fixed         | 7.69%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2015-GC28, Class D                                                | CUSIP: 36251FAG1<br>LEI: 5493002EPQ51IPGGFX73 | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2149716.75   | 0.02%             | 2048-02-10      | Variable      | 4.31%                 | Yes           |                  2 | On Loan: No      |
| EDP - Energias do Brasil SA                                                 | EDP - Energias do Brasil SA                                                                            | CUSIP: N/A<br>LEI: 529900MT3VH5D7T9FR43       | Long             | EC               | CORP              | BR        |   1191645 | NS      | $4821698.54   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.                                 | Taiwan Semiconductor Manufacturing Co. Ltd.                                                            | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |   2215000 | NS      | $39087655.79  | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Paramount Global                                                            | Paramount Global                                                                                       | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |   7550000 | PA      | $6587148.50   | 0.06%             | 2062-03-30      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                                         | Buckeye Partners LP                                                                                    | CUSIP: 118230AU5<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   4360000 | PA      | $3979580.28   | 0.04%             | 2028-03-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Viavi Solutions, Inc.                                                       | Viavi Solutions, Inc.                                                                                  | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |    414000 | PA      | $361215.00    | 0.00%             | 2029-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| GLP Pte. Ltd.                                                               | GLP Pte. Ltd.                                                                                          | CUSIP: N/A<br>LEI: 254900PC2NNG9BLIJO15       | Long             | DBT              | CORP              | SG        |   1400000 | PA      | $946750.00    | 0.01%             | 2026-05-17      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Advanced Drainage Systems, Inc.                                             | Advanced Drainage Systems, Inc.                                                                        | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    515000 | PA      | $490212.28    | 0.00%             | 2027-09-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Netsmart Technologies, Inc.                                                 | Netsmart Technologies, Inc., 1st Lien Term Loan B                                                      | CUSIP: 64119DAM7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    448020 | PA      | $443400.91    | 0.00%             | 2027-10-01      | Variable      | 8.38%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                      | Truist Financial Corp., Series Q                                                                       | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   8754000 | PA      | $8482599.30   | 0.08%             | 2030-03-01      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2015-124, Class SB                                                                        | CUSIP: 38379QQB4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3526253 | PA      | $433075.39    | 0.00%             | 2045-09-20      | Floating      | 1.76%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy, Inc.                                                    | CenterPoint Energy, Inc., Series A                                                                     | CUSIP: 15189TAS6<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   2878000 | PA      | $2831232.50   | 0.03%             | 2023-09-01      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                         | Fifth Third Bancorp                                                                                    | CUSIP: 316773DD9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   4735000 | PA      | $4262454.58   | 0.04%             | 2027-11-01      | Variable      | 1.71%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                                                   | CUSIP: 18453H106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    287095 | NS      | $548351.45    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GLP Pte. Ltd.                                                               | GLP Pte. Ltd.                                                                                          | CUSIP: N/A<br>LEI: 254900PC2NNG9BLIJO15       | Long             | DBT              | CORP              | SG        |   1000000 | PA      | $878937.50    | 0.01%             | 2025-06-04      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-4, Class M1                                                    | CUSIP: 92538HAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1121000 | PA      | $681018.93    | 0.01%             | 2066-07-25      | Variable      | 2.19%                 | Yes           |                  2 | On Loan: No      |
| CAMB Commercial Mortgage Trust                                              | CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class E                                              | CUSIP: 12482HAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2690000 | PA      | $2629308.22   | 0.03%             | 2037-12-15      | Floating      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| NWD Finance BVI Ltd.                                                        | NWD Finance BVI Ltd.                                                                                   | CUSIP: N/A<br>LEI: 25490076V8K09HMNCT88       | Long             | DBT              | CORP              | VG        |   1500000 | PA      | $1198875.00   | 0.01%             | 2028-03-10      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| BE Semiconductor Industries NV                                              | BE Semiconductor Industries NV                                                                         | CUSIP: N/A<br>LEI: 7245007A1YFLI2GNYX06       | Long             | EC               | CORP              | NL        |     46617 | NS      | $3334343.33   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Securities Lending Money Market Fund                               | JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares                                  | CUSIP: 46645V642<br>LEI: 5493002FD4HXUJXMRO62 | Long             | STIV             | RF                | US        | 164992358 | NS      | $164992357.53 | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc., Series 20-A                                                                            | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  13544000 | PA      | $12816551.76  | 0.12%             | 2080-07-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Kia Corp.                                                                   | Kia Corp.                                                                                              | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |    104134 | NS      | $5673424.04   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                        | American Tower Corp.                                                                                   | CUSIP: 03027XBR0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88600.74     | 0.00%             | 2026-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                                          | Arches Buyer, Inc.                                                                                     | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    634000 | PA      | $533992.84    | 0.01%             | 2028-12-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: —       |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDB5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    470000 | PA      | $439661.50    | 0.00%             | 2027-01-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| UPC Broadband Finco BV                                                      | UPC Broadband Finco BV                                                                                 | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    470000 | PA      | $413491.90    | 0.00%             | 2031-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Chord Energy Corp.                                                          | Chord Energy Corp.                                                                                     | CUSIP: 674215AL2<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |   2095000 | PA      | $2063575.00   | 0.02%             | 2026-06-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Gulfport Energy Corp.                                                       | Gulfport Energy Corp.                                                                                  | CUSIP: 402635AR7<br>LEI: 254900DJRGZBUZ3F5038 | Long             | DBT              | CORP              | US        |   3215389 | PA      | $3185839.58   | 0.03%             | 2026-05-17      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Industria de Diseno Textil SA                                               | Industria de Diseno Textil SA                                                                          | CUSIP: N/A<br>LEI: 549300TTCXZOGZM2EY83       | Long             | EC               | CORP              | ES        |    142357 | NS      | $4444502.02   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                                   | Republic of Cote d'Ivoire                                                                              | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |    776028 | PA      | $709484.05    | 0.01%             | 2032-12-31      | Variable      | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2020-5, Class B1                                                    | CUSIP: 92538CAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2400000 | PA      | $1985558.64   | 0.02%             | 2065-05-25      | Variable      | 3.71%                 | Yes           |                  2 | On Loan: No      |
| AmeriGas Partners LP                                                        | AmeriGas Partners LP                                                                                   | CUSIP: 030981AL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1024000 | PA      | $965140.48    | 0.01%             | 2027-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, Connecticut Avenue Securities, Series 2017-C01, Class 1B1                                        | CUSIP: 30711XEQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |   2750000 | PA      | $3012567.25   | 0.03%             | 2029-07-25      | Floating      | 10.26%                | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2018-KF49, Class B                                                        | CUSIP: 30307PAA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    142650 | PA      | $134577.51    | 0.00%             | 2025-06-25      | Floating      | 6.29%                 | Yes           |                  2 | On Loan: No      |
| Legal & General Group plc                                                   | Legal & General Group plc                                                                              | CUSIP: N/A<br>LEI: 213800JH9QQWHLO99821       | Long             | EC               | CORP              | GB        |   1189458 | NS      | $3743155.88   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BPCE SA                                                                     | BPCE SA                                                                                                | CUSIP: 05583JAH5<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   8105000 | PA      | $7304088.38   | 0.07%             | 2026-10-06      | Variable      | 1.65%                 | Yes           |                  2 | On Loan: No      |
| Oversea-Chinese Banking Corp. Ltd.                                          | Oversea-Chinese Banking Corp. Ltd.                                                                     | CUSIP: 69033MV95<br>LEI: 5493007O3QFXCPOGWK22 | Long             | STIV             | CORP              | SG        |   1063000 | PA      | $1064938.38   | 0.01%             | 2023-07-05      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2018-15, Class JS                                                                  | CUSIP: 3136B1HE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2884628 | PA      | $374480.90    | 0.00%             | 2048-03-25      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc.                                                                               | CUSIP: 156700BC9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   5910000 | PA      | $4983622.28   | 0.05%             | 2027-02-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Sabre Holdings Corp.                                                        | Sabre Holdings Corp., 1st Lien Term Loan B                                                             | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    168686 | PA      | $155086.88    | 0.00%             | 2027-12-17      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Cortes NP Acquisition Corp.                                                 | Cortes NP Acquisition Corp., 1st Lien Term Loan B                                                      | CUSIP: 92537EAC2<br>LEI: 549300ZT8RQ5VK10E643 | Long             | LON              | CORP              | US        |    829624 | PA      | $825475.85    | 0.01%             | 2027-03-02      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                                           | Yum! Brands, Inc.                                                                                      | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    661000 | PA      | $563454.87    | 0.01%             | 2031-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CD&R Smokey Buyer, Inc.                                                     | CD&R Smokey Buyer, Inc.                                                                                | CUSIP: 12510CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4976000 | PA      | $4515720.00   | 0.04%             | 2025-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-92, Class SH                                                                         | CUSIP: 38380XTA5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2067520 | PA      | $232196.37    | 0.00%             | 2048-07-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   4333000 | PA      | $3496384.36   | 0.03%             | 2030-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Vanke Real Estate Hong Kong Co. Ltd.                                        | Vanke Real Estate Hong Kong Co. Ltd.                                                                   | CUSIP: N/A<br>LEI: 25490078APAXS5NZGF08       | Long             | DBT              | CORP              | HK        |    400000 | PA      | $363950.00    | 0.00%             | 2027-11-09      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| Euronav NV                                                                  | Euronav NV                                                                                             | CUSIP: N/A<br>LEI: 549300D80RYON74MEJ03       | Long             | EC               | CORP              | BE        |    149848 | NS      | $2359649.29   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BellRing Brands, Inc.                                                       | BellRing Brands, Inc.                                                                                  | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    541000 | PA      | $536997.81    | 0.01%             | 2030-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Comcast Corp.                                                               | Comcast Corp.                                                                                          | CUSIP: 20030NDA6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    240000 | PA      | $214578.82    | 0.00%             | 2030-02-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Chevron Corp.                                                               | Chevron Corp.                                                                                          | CUSIP: 166764BY5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $70930.70     | 0.00%             | 2030-05-11      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |   1420000 | PA      | $1414941.25   | 0.01%             | 2027-01-25      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc., 1st Lien Term Loan                                                           | CUSIP: C9413PBD4<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | LON              | CORP              | CA        |    594750 | PA      | $456149.46    | 0.00%             | 2027-02-01      | Variable      | 9.83%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JW89<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   1320000 | PA      | $930600.00    | 0.01%             | 2049-03-01      | Fixed         | 8.70%                 | Yes           |                  2 | On Loan: —       |
| CQP Holdco LP                                                               | CQP Holdco LP                                                                                          | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    608000 | PA      | $553653.92    | 0.01%             | 2031-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                                | Scotts Miracle-Gro Co. (The)                                                                           | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   2857000 | PA      | $2464162.50   | 0.02%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Structured Asset Mortgage Investments II Trust                              | Structured Asset Mortgage Investments II Trust, Series 2005-AR3, Class 1A1                             | CUSIP: 86359LJZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1944757 | PA      | $1688829.41   | 0.02%             | 2035-08-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                                   | Sunoco LP                                                                                              | CUSIP: 86765LAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2670000 | PA      | $2415522.30   | 0.02%             | 2029-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Deutsche Post AG                                                            | Deutsche Post AG (Registered)                                                                          | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |    227595 | NS      | $9799486.20   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Sea Ltd.                                                                    | Sea Ltd.                                                                                               | CUSIP: 81141RAG5<br>LEI: 529900OM6JLLW44YKI15 | Long             | DBT              | CORP              | KY        |   1234000 | PA      | $951414.00    | 0.01%             | 2026-09-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                                            | IndyMac INDX Mortgage Loan Trust, Series 2005-AR14, Class 2A1A                                         | CUSIP: 45660LRX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    714731 | PA      | $585255.57    | 0.01%             | 2035-07-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| UNITE Group plc (The)                                                       | UNITE Group plc (The)                                                                                  | CUSIP: N/A<br>LEI: 213800BBUUWVDH9YI827       | Long             | EC               | CORP              | GB        |    166625 | NS      | $2052676.45   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC                                     | Daimler Truck Finance North America LLC                                                                | CUSIP: 233853AB6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    717000 | PA      | $693055.71    | 0.01%             | 2023-12-14      | Fixed         | 1.12%                 | Yes           |                  2 | On Loan: No      |
| WhiteWater Whistler Holdings LLC                                            | WhiteWater Whistler Holdings LLC, 1st Lien Term Loan B                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    575000 | PA      | $574281.25    | 0.01%             | 2030-01-25      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                                               | Citigroup Mortgage Loan Trust, Series 2006-AR5, Class 1A5A                                             | CUSIP: 17309FAH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    358416 | PA      | $335337.08    | 0.00%             | 2036-07-25      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Hydro One Ltd.                                                              | Hydro One Ltd.                                                                                         | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |    316186 | NS      | $8645181.83   | 0.08%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Honeywell International, Inc.                                               | Honeywell International, Inc.                                                                          | CUSIP: 438516CK0<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |     65000 | PA      | $68438.89     | 0.00%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DBS Bank Ltd.                                                               | DBS Bank Ltd.                                                                                          | CUSIP: 23305ET78<br>LEI: ATUEL7OJR5057F2PV266 | Long             | STIV             | CORP              | SG        |    844000 | PA      | $829559.40    | 0.01%             | 2023-06-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Entegris Escrow Corp.                                                       | Entegris Escrow Corp.                                                                                  | CUSIP: 29365BAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4120000 | PA      | $3956559.60   | 0.04%             | 2030-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                                    | Spirit AeroSystems, Inc.                                                                               | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |   2485000 | PA      | $2700623.45   | 0.03%             | 2029-11-30      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Terna - Rete Elettrica Nazionale                                            | Terna - Rete Elettrica Nazionale                                                                       | CUSIP: N/A<br>LEI: 8156009E94ED54DE7C31       | Long             | EC               | CORP              | IT        |    375428 | NS      | $2970334.29   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Ghana                                                           | Republic of Ghana                                                                                      | CUSIP: N/A<br>LEI: 213800PP4399SNNXZ126       | Long             | DBT              | NUSS              | GH        |    520000 | PA      | $362700.00    | 0.00%             | 2030-10-14      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust                                              | HarborView Mortgage Loan Trust, Series 2005-11, Class 2A1A                                             | CUSIP: 41161PUK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    137596 | PA      | $125229.75    | 0.00%             | 2045-08-19      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | DBT              | CORP              | FR        |    800000 | PA      | $774746.58    | 0.01%             | 2027-12-23      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Federal Realty Investment Trust                                             | Federal Realty Investment Trust                                                                        | CUSIP: 313745101<br>LEI: 549300LI6XZ51GOCJ427 | Long             | EC               | CORP              | US        |     99494 | NS      | $11096565.82  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Shandong Iron And Steel Xinheng International Co. Ltd.                      | Shandong Iron And Steel Xinheng International Co. Ltd.                                                 | CUSIP: N/A<br>LEI: 3003000ZSLLDIQHLEZ07       | Long             | DBT              | CORP              | VG        |    950000 | PA      | $903271.88    | 0.01%             | 2024-07-28      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Vector Group Ltd.                                                           | Vector Group Ltd.                                                                                      | CUSIP: 92240MBL1<br>LEI: 549300TUIF4WWN6NDN50 | Long             | DBT              | CORP              | US        |   1245000 | PA      | $1085627.55   | 0.01%             | 2029-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Orron Energy ab                                                             | Orron Energy ab                                                                                        | CUSIP: N/A<br>LEI: 549300IULC8F8IGXKI15       | Long             | EC               | CORP              | SE        |   1216344 | NS      | $2254949.47   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Natixis SA                                                                  | Natixis SA                                                                                             | CUSIP: 63873KX69<br>LEI: 2549003L5ZG5M2ZSE107 | Long             | STIV             | CORP              | FR        |   1000000 | PA      | $965824.22    | 0.01%             | 2023-10-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K728, Class X3                        | CUSIP: 3137FBTD8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8119779 | PA      | $274498.87    | 0.00%             | 2045-11-25      | Variable      | 1.96%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280CJ6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4590000 | PA      | $4226348.85   | 0.04%             | 2026-04-18      | Variable      | 1.64%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2020-GC46, Class E                                         | CUSIP: 17328RAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $2675967.75   | 0.03%             | 2053-02-15      | Fixed         | 2.60%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                                         | Bank of New York Mellon Corp. (The), Series F                                                          | CUSIP: 064058AF7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   7637000 | PA      | $7079346.26   | 0.07%             | 2026-09-20      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| Minejesa Capital BV                                                         | Minejesa Capital BV                                                                                    | CUSIP: 602736AA8<br>LEI: 549300KS7ERCP10BKC35 | Long             | DBT              | CORP              | NL        |    674000 | PA      | $622776.00    | 0.01%             | 2030-08-10      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-NC3, Class M1                                    | CUSIP: 61744CBW5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1138007 | PA      | $1100848.76   | 0.01%             | 2034-03-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Operating Partners LP                                        | NextEra Energy Operating Partners LP                                                                   | CUSIP: 65342QAK8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   1811000 | PA      | $1768737.24   | 0.02%             | 2024-07-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2017-P7, Class B                                           | CUSIP: 17325HBS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    910000 | PA      | $811979.53    | 0.01%             | 2050-04-14      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| HKBN Ltd.                                                                   | HKBN Ltd.                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |   1798000 | NS      | $1265434.87   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Range Resources Corp.                                                       | Range Resources Corp.                                                                                  | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |   1227000 | PA      | $1099090.55   | 0.01%             | 2030-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| DBJPM Mortgage Trust                                                        | DBJPM Mortgage Trust, Series 2016-C3, Class D                                                          | CUSIP: 23312VAS5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1170000 | PA      | $852206.12    | 0.01%             | 2049-08-10      | Variable      | 3.47%                 | Yes           |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                                              | Pagaya AI Debt Selection Trust, Series 2021-3, Class C                                                 | CUSIP: 69546RAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1499918 | PA      | $1274191.75   | 0.01%             | 2029-05-15      | Fixed         | 3.27%                 | Yes           |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                                     | Fremont Home Loan Trust, Series 2004-B, Class M2                                                       | CUSIP: 35729PDR8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    311114 | PA      | $291576.84    | 0.00%             | 2034-05-25      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2004-25, Class 2A1                                             | CUSIP: 12669GKF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1875012 | PA      | $1569163.91   | 0.02%             | 2035-02-25      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Caesars Resort Collection LLC                                               | Caesars Resort Collection LLC, 1st Lien Term Loan B                                                    | CUSIP: 12769LAB5<br>LEI: 549300V3UCT773B1KR38 | Long             | LON              | CORP              | US        |    963131 | PA      | $961859.24    | 0.01%             | 2024-12-23      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Juniper Networks, Inc.                                                      | Juniper Networks, Inc.                                                                                 | CUSIP: 48203R104<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | EC               | CORP              | US        |    222588 | NS      | $7189592.40   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, STRIPS, Series 278, Class S1                                                                    | CUSIP: 31325TVM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1840815 | PA      | $210652.43    | 0.00%             | 2042-09-15      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Holly Energy Partners LP                                                    | Holly Energy Partners LP                                                                               | CUSIP: 435765AH5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1435000 | PA      | $1336343.75   | 0.01%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Dai Nippon Printing Co. Ltd.                                                | Dai Nippon Printing Co. Ltd.                                                                           | CUSIP: N/A<br>LEI: 529900S7NFNQ4FT6OP83       | Long             | EC               | CORP              | JP        |    157300 | NS      | $3713797.15   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Ageas SA                                                                    | Ageas SA                                                                                               | CUSIP: N/A<br>LEI: 5493005DJBML6LY3RV36       | Long             | EC               | CORP              | BE        |     57226 | NS      | $2793886.89   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Studio City Finance Ltd.                                                    | Studio City Finance Ltd.                                                                               | CUSIP: N/A<br>LEI: 254900D6R731QAUIG324       | Long             | DBT              | CORP              | VG        |    550000 | PA      | $442403.50    | 0.00%             | 2029-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                  | Prudential Financial, Inc.                                                                             | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |     66129 | NS      | $6939577.26   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Medline Borrower LP                                                         | Medline Borrower LP                                                                                    | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   7269000 | PA      | $6215104.04   | 0.06%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Orion OYJ                                                                   | Orion OYJ, Class B                                                                                     | CUSIP: N/A<br>LEI: 74370029VAHCXDR7B745       | Long             | EC               | CORP              | FI        |    141051 | NS      | $7556752.50   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12921000 | PA      | $10763839.05  | 0.10%             | 2031-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| FWD Securitization Trust                                                    | FWD Securitization Trust, Series 2020-INV1, Class A1                                                   | CUSIP: 302985AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1587011 | PA      | $1458380.30   | 0.01%             | 2050-01-25      | Variable      | 2.24%                 | Yes           |                  2 | On Loan: No      |
| Eskom Holdings SOC Ltd.                                                     | Eskom Holdings SOC Ltd.                                                                                | CUSIP: N/A<br>LEI: 3789001900ED06F65111       | Long             | DBT              | NUSS              | ZA        |   1030000 | PA      | $1009013.75   | 0.01%             | 2023-08-06      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-5, Class B1                                                    | CUSIP: 92538KAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3826000 | PA      | $2270075.99   | 0.02%             | 2066-09-25      | Variable      | 3.04%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: 06738EBH7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   4340000 | PA      | $4252729.46   | 0.04%             | 2025-05-07      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| Altice France Holding SA                                                    | Altice France Holding SA                                                                               | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   5244000 | PA      | $4503285.00   | 0.04%             | 2027-05-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| FHLMC Multi-Family Structured Credit Risk                                   | FHLMC, Multi-Family Structured Credit Risk, Series 2021-MN3, Class M1                                  | CUSIP: 35563GAA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1859909 | PA      | $1773385.85   | 0.02%             | 2051-11-25      | Floating      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                        | Mitsubishi UFJ Financial Group, Inc.                                                                   | CUSIP: 606822BY9<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   1195000 | PA      | $1057658.59   | 0.01%             | 2027-07-20      | Variable      | 1.54%                 | No            |                  2 | On Loan: —       |
| Intelsat SA                                                                 | Intelsat SA                                                                                            | CUSIP: N/A<br>LEI: 549300YV2L21F4K80V46       | Long             | EC               | CORP              | LU        |    269774 | NS      | $6474576.00   | 0.06%             |  |  |  | No            |                  3 | On Loan: No      |
| Star Merger Sub, Inc.                                                       | Star Merger Sub, Inc., 1st Lien Term Loan B                                                            | CUSIP: 26483NAN0<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |    697077 | PA      | $695209.08    | 0.01%             | 2026-02-06      | Variable      | 7.77%                 | No            |                  2 | On Loan: No      |
| VASA Trust                                                                  | VASA Trust, Series 2021-VASA, Class G                                                                  | CUSIP: 92230AAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1360000 | PA      | $1211432.24   | 0.01%             | 2039-07-15      | Floating      | 9.46%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280BP3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   5250000 | PA      | $5082262.50   | 0.05%             | 2028-03-23      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                | MASTR Alternative Loan Trust, Series 2004-8, Class 1A1                                                 | CUSIP: 576434UP7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    145884 | PA      | $146138.64    | 0.00%             | 2034-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Endo Luxembourg Finance Co. I Sarl                                          | Endo Luxembourg Finance Co. I Sarl                                                                     | CUSIP: 29280BAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   2045000 | PA      | $1605325.00   | 0.02%             | 2029-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: —       |
| United Parcel Service, Inc.                                                 | United Parcel Service, Inc., Class B                                                                   | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |    116554 | NS      | $21589297.42  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2019-41, Class CS                                                                         | CUSIP: 38381TNU5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3315627 | PA      | $326476.86    | 0.00%             | 2049-03-20      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                                       | Prestige Brands, Inc.                                                                                  | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |   1268000 | PA      | $1076658.80   | 0.01%             | 2031-04-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Balfour Beatty plc                                                          | Balfour Beatty plc                                                                                     | CUSIP: N/A<br>LEI: CT4UIJ3TUKGYYHMENQ17       | Long             | EC               | CORP              | GB        |    609119 | NS      | $2751489.47   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    849000 | PA      | $780940.89    | 0.01%             | 2030-02-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | DBT              | CORP              | GB        |    330000 | PA      | $320695.12    | 0.00%             | 2029-07-04      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Yanlord Land HK Co. Ltd.                                                    | Yanlord Land HK Co. Ltd.                                                                               | CUSIP: N/A<br>LEI: 549300O56H3950RDWG19       | Long             | DBT              | CORP              | HK        |   3400000 | PA      | $3306500.00   | 0.03%             | 2024-02-27      | Fixed         | 6.80%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, Connecticut Avenue Securities, Series 2017-C02, Class 2B1                                        | CUSIP: 30711XGQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $496390.73    | 0.00%             | 2029-09-25      | Floating      | 10.01%                | No            |                  2 | On Loan: No      |
| Genuine Parts Co.                                                           | Genuine Parts Co.                                                                                      | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |     39584 | NS      | $6642986.88   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG (Registered)                                                                              | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |    303962 | NS      | $6488187.98   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Greenko Solar Mauritius Ltd.                                                | Greenko Solar Mauritius Ltd.                                                                           | CUSIP: N/A<br>LEI: 2138007S1PL541B3KP92       | Long             | DBT              | CORP              | MU        |    500000 | PA      | $465000.00    | 0.00%             | 2026-07-29      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Simon Property Group, Inc.                                                  | Simon Property Group, Inc.                                                                             | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     62127 | NS      | $7980834.42   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Option One Mortgage Acceptance Corp. Asset-Backed Certificates              | Option One Mortgage Accept Corp. Asset-Backed Certificates, Series 2003-5, Class M2                    | CUSIP: 68400XBV1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11040 | PA      | $14540.03     | 0.00%             | 2033-08-25      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| ING US Funding LLC                                                          | ING US Funding LLC                                                                                     | CUSIP: 45685RWM5<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    800000 | PA      | $774582.29    | 0.01%             | 2023-09-21      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series FF                                                                       | CUSIP: 060505FL3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   6976000 | PA      | $6679520.00   | 0.06%             | 2028-03-15      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                      | Cleveland-Cliffs, Inc.                                                                                 | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   1772000 | PA      | $1655260.64   | 0.02%             | 2031-03-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| Banque Federative du Credit Mutuel SA                                       | Banque Federative du Credit Mutuel SA                                                                  | CUSIP: 06675FAX5<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   1108000 | PA      | $1022834.40   | 0.01%             | 2025-02-04      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                                              | Hewlett Packard Enterprise Co.                                                                         | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |    444060 | NS      | $7162687.80   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi HC Finance America LLC                                           | Mitsubishi HC Finance America LLC                                                                      | CUSIP: 60678QRA7<br>LEI: 3538008O2MCHLB9FAL82 | Long             | STIV             | CORP              | US        |    690000 | PA      | $683507.85    | 0.01%             | 2023-04-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SSAB AB                                                                     | SSAB AB, Class B                                                                                       | CUSIP: N/A<br>LEI: 529900329VS14ZIML164       | Long             | EC               | CORP              | SE        |    502590 | NS      | $3424984.83   | 0.03%             |  |  |  | No            |                  2 | On Loan: —       |
| Central Garden & Pet Co.                                                    | Central Garden & Pet Co.                                                                               | CUSIP: 153527AM8<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |   6555000 | PA      | $6243637.50   | 0.06%             | 2028-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                                                        | Steel Dynamics, Inc.                                                                                   | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     46507 | NS      | $5610604.48   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GoodRx, Inc.                                                                | GoodRx, Inc., 1st Lien Term Loan                                                                       | CUSIP: 38245HAC1<br>LEI: 25490061CWK7F0OTY260 | Long             | LON              | CORP              | US        |    392689 | PA      | $386881.16    | 0.00%             | 2025-10-10      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    550000 | PA      | $548212.50    | 0.01%             | 2027-03-08      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254CM0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   3525000 | PA      | $3613125.00   | 0.03%             | 2027-08-15      | Variable      | 7.75%                 | Yes           |                  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        |    332890 | NS      | $1480552.16   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Paraguay Government International Bond                                      | Republic of Paraguay                                                                                   | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |    170000 | PA      | $167662.50    | 0.00%             | 2027-03-27      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Severn Trent plc                                                            | Severn Trent plc                                                                                       | CUSIP: N/A<br>LEI: 213800RPBXRETY4A4C59       | Long             | EC               | CORP              | GB        |     83810 | NS      | $2916665.00   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Precision Drilling Corp.                                                    | Precision Drilling Corp.                                                                               | CUSIP: 740212AM7<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |    518000 | PA      | $498958.32    | 0.00%             | 2029-01-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Fiserv, Inc.                                                                | Fiserv, Inc.                                                                                           | CUSIP: 33774LP69<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | STIV             | CORP              | US        |    500000 | PA      | $499608.92    | 0.00%             | 2023-02-06      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                                            | Skandinaviska Enskilda Banken AB                                                                       | CUSIP: 83051GAT5<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |   2385000 | PA      | $2101453.93   | 0.02%             | 2026-09-09      | Fixed         | 1.20%                 | Yes           |                  2 | On Loan: No      |
| Chord Energy Corp.                                                          | Chord Energy Corp.                                                                                     | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     42663 | NS      | $6114887.79   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare, Inc.                                                            | Cloudflare, Inc.                                                                                       | CUSIP: 18915MAC1<br>LEI: 5493007DY18BGNLDWU14 | Long             | DBT              | CORP              | US        |    766000 | PA      | $636737.50    | 0.01%             | 2026-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Eni SpA                                                                     | Eni SpA                                                                                                | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               | CORP              | IT        |    660007 | NS      | $10156342.93  | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Trust                                                | Chase Mortgage Finance Trust, Series 2006-S3, Class 1A2                                                | CUSIP: 16162XAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1047145 | PA      | $479472.53    | 0.00%             | 2036-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Energean Israel Finance Ltd.                                                | Energean Israel Finance Ltd.                                                                           | CUSIP: N/A<br>LEI: 98450044QACBL3F8EB03       | Long             | DBT              | CORP              | IL        |    220000 | PA      | $201740.00    | 0.00%             | 2028-03-30      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Vinci SA                                                                    | Vinci SA                                                                                               | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |    201959 | NS      | $22819262.53  | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Gray Television, Inc.                                                       | Gray Television, Inc.                                                                                  | CUSIP: 389375AJ5<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   2017000 | PA      | $1847935.06   | 0.02%             | 2026-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: —       |
| Hello Group, Inc.                                                           | Hello Group, Inc.                                                                                      | CUSIP: 60879BAB3<br>LEI: 549300YMGLID32W48529 | Long             | DBT              | CORP              | KY        |   1149000 | PA      | $1100163.29   | 0.01%             | 2025-07-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                             | TransDigm, Inc.                                                                                        | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   5380000 | PA      | $5378104.84   | 0.05%             | 2026-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                                              | Citizens Financial Group, Inc., Series C                                                               | CUSIP: 174610AQ8<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   2029000 | PA      | $1943579.10   | 0.02%             | 2024-04-06      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                          | LPL Holdings, Inc.                                                                                     | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    926000 | PA      | $828770.00    | 0.01%             | 2029-03-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Impac Secured Assets CMN Owner Trust                                        | Impac Secured Assets CMN Owner Trust, Series 2003-2, Class A4                                          | CUSIP: 45254TMV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    168658 | PA      | $116178.30    | 0.00%             | 2033-08-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp.                                                         | Realty Income Corp.                                                                                    | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |         2 | NS      | $135.66       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JSW Steel Ltd.                                                              | JSW Steel Ltd.                                                                                         | CUSIP: N/A<br>LEI: 335800EK6HZSC4CVAJ09       | Long             | DBT              | CORP              | IN        |   2200000 | PA      | $2136750.00   | 0.02%             | 2025-04-04      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                      | Velocity Commercial Capital Loan Trust, Series 2018-2, Class A                                         | CUSIP: 92259BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2411722 | PA      | $2321865.07   | 0.02%             | 2048-10-26      | Variable      | 4.05%                 | Yes           |                  2 | On Loan: No      |
| Contact Energy Ltd.                                                         | Contact Energy Ltd.                                                                                    | CUSIP: N/A<br>LEI: 549300FT5JOXS1PZ1I32       | Long             | EC               | CORP              | NZ        |    703090 | NS      | $3535949.25   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Gulfport Energy Corp.                                                       | Gulfport Energy Corp.                                                                                  | CUSIP: 402635AQ9<br>LEI: 254900DJRGZBUZ3F5038 | Long             | DBT              | CORP              | US        |    703010 | PA      | $696549.34    | 0.01%             | 2026-05-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Petco Health & Wellness Co., Inc.                                           | Petco Health & Wellness Co., Inc., Term Loan B                                                         | CUSIP: 71601HAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6622676 | PA      | $6547508.41   | 0.06%             | 2028-03-03      | Variable      | 8.09%                 | No            |                  2 | On Loan: No      |
| Publicis Groupe SA                                                          | Publicis Groupe SA                                                                                     | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |     61552 | NS      | $4341855.61   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Cofinimmo SA                                                                | Cofinimmo SA                                                                                           | CUSIP: N/A<br>LEI: 549300TM914CSF6KI389       | Long             | EC               | CORP              | BE        |     17714 | NS      | $1611249.35   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DISH Network Corp.                                                          | DISH Network Corp.                                                                                     | CUSIP: 25470MAB5<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   4533000 | PA      | $2965906.41   | 0.03%             | 2026-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-13CB, Class A4                                                     | CUSIP: 12667GAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    906244 | PA      | $777889.97    | 0.01%             | 2035-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GrafTech Finance, Inc.                                                      | GrafTech Finance, Inc.                                                                                 | CUSIP: 384311AA4<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | DBT              | CORP              | US        |   1267000 | PA      | $1079836.10   | 0.01%             | 2028-12-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                                      | Lendmark Funding Trust, Series 2021-1A, Class B                                                        | CUSIP: 52607MAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $1024642.68   | 0.01%             | 2031-11-20      | Fixed         | 2.47%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                                            | Virgin Media Secured Finance plc                                                                       | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |   4325000 | PA      | $4012259.25   | 0.04%             | 2029-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: 25714PEE4<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |    880000 | PA      | $675015.00    | 0.01%             | 2060-01-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4068, Class DS                                                                    | CUSIP: 3137ARMT0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1706672 | PA      | $200847.43    | 0.00%             | 2042-06-15      | Floating      | 1.54%                 | 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        |     31024 | NS      | $27083190.60  | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Greenko Power II Ltd.                                                       | Greenko Power II Ltd.                                                                                  | CUSIP: N/A<br>LEI: 254900YYA4B6O2O4JM12       | Long             | DBT              | CORP              | MU        |    382000 | PA      | $329475.00    | 0.00%             | 2028-12-13      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Magnolia Oil & Gas Operating LLC                                            | Magnolia Oil & Gas Operating LLC                                                                       | CUSIP: 559665AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $483750.00    | 0.00%             | 2026-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Greenko Power II Ltd.                                                       | Greenko Power II Ltd.                                                                                  | CUSIP: 39530MAA6<br>LEI: 254900YYA4B6O2O4JM12 | Long             | DBT              | CORP              | MU        |    882420 | PA      | $761087.25    | 0.01%             | 2028-12-13      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: 53944YAT0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2920000 | PA      | $2878999.11   | 0.03%             | 2026-08-11      | Variable      | 4.72%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123CK4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    900000 | PA      | $794250.00    | 0.01%             | 2026-10-09      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   8855000 | PA      | $8083729.50   | 0.08%             | 2026-02-18      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| MRCD MARK Mortgage Trust                                                    | MRCD MARK Mortgage Trust, Series 2019-PARK, Class G                                                    | CUSIP: 55348UAW8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3297949.20   | 0.03%             | 2036-12-15      | Fixed         | 2.72%                 | Yes           |                  2 | On Loan: No      |
| CSN Resources SA                                                            | CSN Resources SA                                                                                       | CUSIP: 12644VAD0<br>LEI: 222100ZEX458NMOXZP08 | Long             | DBT              | CORP              | LU        |    450000 | PA      | $378990.00    | 0.00%             | 2031-06-10      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Gartner, Inc.                                                               | Gartner, Inc.                                                                                          | CUSIP: 366651AG2<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |   2138000 | PA      | $1919924.00   | 0.02%             | 2029-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| RELX plc                                                                    | RELX plc                                                                                               | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |    425414 | NS      | $12638598.30  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Gray Television, Inc.                                                       | Gray Television, Inc., 1st Lien Term Loan B                                                            | CUSIP: 389376AY0<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |    362057 | PA      | $360170.52    | 0.00%             | 2026-01-02      | Variable      | 6.87%                 | No            |                  2 | On Loan: No      |
| Residential Asset Securitization Trust                                      | Residential Asset Securitization Trust, Series 2007-A5, Class 2A2                                      | CUSIP: 76114HAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6326749 | PA      | $3674902.01   | 0.04%             | 2037-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR24, Class D                                                   | CUSIP: 12593JBL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2134000 | PA      | $1752742.33   | 0.02%             | 2048-08-10      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| Gates Global LLC                                                            | Gates Global LLC, 1st Lien Term Loan B                                                                 | CUSIP: 36740UAX0<br>LEI: 549300XI79MQJV13DW27 | Long             | LON              | CORP              | US        |    174562 | PA      | $174562.50    | 0.00%             | 2029-11-16      | Variable      | 8.06%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2065000 | PA      | $949021.01    | 0.01%             | 2029-02-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Madison IAQ LLC                                                             | Madison IAQ LLC, 1st Lien Term Loan                                                                    | CUSIP: 55759VAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4684957 | PA      | $4475118.15   | 0.04%             | 2028-06-21      | Variable      | 7.99%                 | No            |                  2 | On Loan: No      |
| Republic of Kenya                                                           | Republic of Kenya                                                                                      | CUSIP: N/A<br>LEI: 549300VVURQQYU45PR87       | Long             | DBT              | NUSS              | KE        |   1500000 | PA      | $1402500.00   | 0.01%             | 2024-06-24      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Eversource Energy                                                           | Eversource Energy                                                                                      | CUSIP: 664397AK2<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   1714000 | PA      | $1705464.28   | 0.02%             | 2023-05-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2019-30, Class SA                                                                         | CUSIP: 38381R4T3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4201807 | PA      | $470404.04    | 0.00%             | 2049-03-20      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                      | Cleveland-Cliffs, Inc.                                                                                 | CUSIP: 185899AK7<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   3643000 | PA      | $3397243.91   | 0.03%             | 2029-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2005-A8, Class 4A1                                                     | CUSIP: 466247YZ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1225258 | PA      | $1035547.04   | 0.01%             | 2035-11-25      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| Progressive Corp. (The)                                                     | Progressive Corp. (The)                                                                                | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     44191 | NS      | $6025442.85   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Genesis Energy LP                                                           | Genesis Energy LP                                                                                      | CUSIP: 37185LAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1298000 | PA      | $1281385.60   | 0.01%             | 2027-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                                                | BX Commercial Mortgage Trust, Series 2020-VIV2, Class C                                                | CUSIP: 05605NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10696000 | PA      | $8965226.76   | 0.09%             | 2044-03-09      | Variable      | 3.54%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC, Term Loan B-6                                                                        | CUSIP: 64072UAM4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1556126 | PA      | $1473464.35   | 0.01%             | 2028-01-17      | Variable      | 8.82%                 | No            |                  2 | On Loan: No      |
| FLEX LNG Ltd.                                                               | FLEX LNG Ltd.                                                                                          | CUSIP: N/A<br>LEI: 21380084THHU3MPC3647       | Long             | EC               | CORP              | BM        |     42683 | NS      | $1318985.30   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Ausgrid Finance Pty. Ltd.                                                   | Ausgrid Finance Pty. Ltd.                                                                              | CUSIP: 052113AA5<br>LEI: 549300DN8D7YR73BKB57 | Long             | DBT              | CORP              | AU        |    459000 | PA      | $457476.12    | 0.00%             | 2023-05-01      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| Glencore plc                                                                | Glencore plc                                                                                           | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |    997634 | NS      | $6681043.17   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series KC03, Class X1                        | CUSIP: 3137FKWE2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  61730882 | PA      | $578893.69    | 0.01%             | 2024-11-25      | Variable      | 0.48%                 | No            |                  2 | On Loan: No      |
| CK Asset Holdings Ltd.                                                      | CK Asset Holdings Ltd.                                                                                 | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | KY        |    332000 | NS      | $2122645.48   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Mapfre SA                                                                   | Mapfre SA                                                                                              | CUSIP: N/A<br>LEI: 95980020140005693107       | Long             | EC               | CORP              | ES        |   1359486 | NS      | $2734530.08   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Negara Indonesia Persero Tbk. PT                                       | Bank Negara Indonesia Persero Tbk. PT                                                                  | CUSIP: N/A<br>LEI: 549300HZ8J3MLVXQ8F85       | Long             | DBT              | NUSS              | ID        |   1000000 | PA      | $857610.00    | 0.01%             | 2027-03-24      | Variable      | 4.30%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2014-186                                                                                  | CUSIP: 38378XW72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3907822 | PA      | $41819.94     | 0.00%             | 2054-08-16      | Variable      | 0.37%                 | No            |                  2 | On Loan: No      |
| Element Solutions, Inc.                                                     | Element Solutions, Inc.                                                                                | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |    696000 | PA      | $615960.00    | 0.01%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Conair Holdings LLC                                                         | Conair Holdings LLC, 1st Lien Term Loan B                                                              | CUSIP: 20600RAB8<br>LEI: 549300804G00T34FLV17 | Long             | LON              | CORP              | US        |    764740 | PA      | $654945.88    | 0.01%             | 2028-05-17      | Variable      | 8.48%                 | No            |                  2 | On Loan: No      |
| Nestle Skin Health SA                                                       | Nestle Skin Health SA, Term Loan B                                                                     | CUSIP: L8908YAE8<br>LEI: 254900CHQOBZNYV4DY60 | Long             | LON              | CORP              | LU        |   9237868 | PA      | $9041562.88   | 0.09%             | 2026-10-01      | Variable      | 8.48%                 | No            |                  2 | On Loan: No      |
| Republic of Paraguay                                                        | Republic of Paraguay                                                                                   | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |    350000 | PA      | $315940.63    | 0.00%             | 2048-03-13      | Fixed         | 5.60%                 | Yes           |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                                    | UnitedHealth Group, Inc.                                                                               | CUSIP: 91324PEE8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     75000 | PA      | $59910.68     | 0.00%             | 2041-05-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Alliance Laundry Systems LLC                                                | Alliance Laundry Systems LLC, 1st Lien Term Loan B                                                     | CUSIP: 01862LAW8<br>LEI: 549300YBOGK6MBI5ND34 | Long             | LON              | CORP              | US        |   1204392 | PA      | $1200634.12   | 0.01%             | 2027-10-08      | Variable      | 8.31%                 | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV                                                          | Koninklijke KPN NV                                                                                     | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |   1469923 | NS      | $5025440.02   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| NiSource, Inc.                                                              | NiSource, Inc.                                                                                         | CUSIP: 65473PAL9<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    190000 | PA      | $151083.29    | 0.00%             | 2031-02-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                      | Home Depot, Inc. (The)                                                                                 | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     15102 | NS      | $4895615.34   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   5225000 | PA      | $4696752.50   | 0.05%             | 2027-02-12      | Variable      | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JX21<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    880000 | PA      | $659890.00    | 0.01%             | 2032-01-15      | Fixed         | 7.05%                 | Yes           |                  2 | On Loan: No      |
| General Mills, Inc.                                                         | General Mills, Inc.                                                                                    | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     65709 | NS      | $5148957.24   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Astoria Energy LLC                                                          | Astoria Energy LLC, 1st Lien Term Loan B                                                               | CUSIP: 04626LAE9<br>LEI: 549300BXD26J7I0IPB62 | Long             | LON              | CORP              | US        |    195308 | PA      | $193807.97    | 0.00%             | 2027-12-10      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Topaz Solar Farms LLC                                                       | Topaz Solar Farms LLC                                                                                  | CUSIP: 89054XAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    359857 | PA      | $345765.00    | 0.00%             | 2039-09-30      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Sylvamo Corp.                                                               | Sylvamo Corp.                                                                                          | CUSIP: 87133LAA8<br>LEI: 5493001AOYU1ZOWOC971 | Long             | DBT              | CORP              | US        |    522000 | PA      | $499115.52    | 0.00%             | 2029-09-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Canadian Apartment Properties REIT                                          | Canadian Apartment Properties                                                                          | CUSIP: 134921105<br>LEI: 549300B1MYVTQEB2DI90 | Long             | EC               | CORP              | CA        |     99699 | NS      | $3686588.85   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.                          | National Rural Utilities Cooperative Finance Corp.                                                     | CUSIP: 63743DPF2<br>LEI: 4NYF266XZC35SCTGX023 | Long             | STIV             | CORP              | US        |   1125000 | PA      | $1122898.13   | 0.01%             | 2023-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2005-6, Class 1A2                                                | CUSIP: 05946XM26<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1212507 | PA      | $931579.06    | 0.01%             | 2035-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets plc                                                      | BP Capital Markets plc                                                                                 | CUSIP: N/A<br>LEI: 549300CRVT18MXX0AG93       | Long             | DBT              | CORP              | GB        |   7400000 | PA      | $7119262.73   | 0.07%             | 2029-03-22      | Variable      | 3.63%                 | Yes           |                  2 | On Loan: No      |
| NuStar Logistics LP                                                         | NuStar Logistics LP                                                                                    | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   1945000 | PA      | $1873521.25   | 0.02%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2004-A6, Class 1A1                                                     | CUSIP: 466247GR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     57370 | PA      | $50377.08     | 0.00%             | 2034-12-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| AXA SA                                                                      | AXA SA                                                                                                 | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |    191338 | NS      | $5969559.15   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| BP Capital Markets plc                                                      | BP Capital Markets plc                                                                                 | CUSIP: N/A<br>LEI: 549300CRVT18MXX0AG93       | Long             | DBT              | CORP              | GB        |   2300000 | PA      | $2614665.28   | 0.03%             | 2027-03-22      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AE9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |    132000 | PA      | $114675.00    | 0.00%             | 2043-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Comerica, Inc.                                                              | Comerica, Inc.                                                                                         | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |     82874 | NS      | $6075492.94   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEC Loan Trust                                                             | CHEC Loan Trust, Series 2004-1, Class M1                                                               | CUSIP: 162765AD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    557146 | PA      | $542739.33    | 0.01%             | 2034-07-25      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J2, Class 1A5                                                      | CUSIP: 12667F6A8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3592687 | PA      | $2817287.53   | 0.03%             | 2035-04-25      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Insulet Corp.                                                               | Insulet Corp., 1st Lien Term Loan B                                                                    | CUSIP: 45784QAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    966634 | PA      | $964826.61    | 0.01%             | 2028-05-04      | Variable      | 7.69%                 | No            |                  2 | On Loan: No      |
| Kinetik Holdings LP                                                         | Kinetik Holdings LP                                                                                    | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |   1836000 | PA      | $1744200.00   | 0.02%             | 2030-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Cikarang Listrindo Tbk. PT                                                  | Cikarang Listrindo Tbk. PT                                                                             | CUSIP: N/A<br>LEI: 254900NPCIO562Z7FN53       | Long             | DBT              | CORP              | ID        |   1600000 | PA      | $1512300.00   | 0.01%             | 2026-09-14      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Newmont Corp.                                                               | Newmont Corp.                                                                                          | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     94898 | NS      | $5022951.14   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series T                                                                              | CUSIP: 172967KM2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5444000 | PA      | $5479603.76   | 0.05%             | 2026-08-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Infosys Ltd.                                                                | Infosys Ltd.                                                                                           | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |    797360 | NS      | $14990368.00  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Trinseo Materials Operating SCA                                             | Trinseo Materials Operating SCA                                                                        | CUSIP: 89668QAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   2568000 | PA      | $1849999.94   | 0.02%             | 2029-04-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Powszechny Zaklad Ubezpieczen SA                                            | Powszechny Zaklad Ubezpieczen SA                                                                       | CUSIP: N/A<br>LEI: QLPCKOOKVX32FUELX240       | Long             | EC               | CORP              | PL        |    778609 | NS      | $6618163.74   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| HKT Trust & HKT Ltd.                                                        | HKT Trust & HKT Ltd.                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |   4865000 | NS      | $6374007.61   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                                  | Avis Budget Car Rental LLC                                                                             | CUSIP: 053773BG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6475000 | PA      | $5690476.70   | 0.05%             | 2028-04-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Lenovo Group Ltd.                                                           | Lenovo Group Ltd.                                                                                      | CUSIP: N/A<br>LEI: 254900VUZRGD5U73RE46       | Long             | DBT              | CORP              | HK        |    300000 | PA      | $300384.00    | 0.00%             | 2025-04-24      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Chamberlain Group LLC (The)                                                 | Chamberlain Group LLC (The), 1st Lien Term Loan B                                                      | CUSIP: 15963CAC0<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |    550190 | PA      | $530476.70    | 0.01%             | 2028-11-03      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K084, Class X3                        | CUSIP: 3137FJZC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6000000 | PA      | $629221.20    | 0.01%             | 2028-11-25      | Variable      | 2.24%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307AH0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1294000 | PA      | $1266625.43   | 0.01%             | 2024-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                                        | Prime Security Services Borrower LLC                                                                   | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9312000 | PA      | $9126127.92   | 0.09%             | 2026-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Liberty Interactive LLC                                                     | Liberty Interactive LLC                                                                                | CUSIP: 530715AL5<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |    320000 | PA      | $108800.00    | 0.00%             | 2030-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                      | Mauser Packaging Solutions Holding Co.                                                                 | CUSIP: 12429TAE4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   2610000 | PA      | $2548012.50   | 0.02%             | 2025-04-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-50CB, Class 4A1                                                    | CUSIP: 12668ALL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1051 | PA      | $987.70       | 0.00%             | 2020-11-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                                 | Acadia Healthcare Co., Inc.                                                                            | CUSIP: 00404AAN9<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |   3189000 | PA      | $3072218.82   | 0.03%             | 2028-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Global Aircraft Leasing Co. Ltd.                                            | Global Aircraft Leasing Co. Ltd.                                                                       | CUSIP: 37960JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    977420 | PA      | $891977.64    | 0.01%             | 2024-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2016-CR28, Class C                                                   | CUSIP: 12593YBM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1832112.80   | 0.02%             | 2049-02-10      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Holdings, Inc.                                            | SS&C Technologies Holdings, Inc., 1st Lien Term Loan B-4                                               | CUSIP: 78466DBE3<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |    246965 | PA      | $246347.51    | 0.00%             | 2025-04-16      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Samsonite International SA                                                  | Samsonite International SA, 1st Lien Term Loan B                                                       | CUSIP: L8030PAF5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    396045 | PA      | $395137.61    | 0.00%             | 2025-04-25      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Residential Asset Securitization Trust                                      | Residential Asset Securitization Trust, Series 2005-A14, Class A1                                      | CUSIP: 45660LS83<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    125308 | PA      | $64220.95     | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                          | VICI Properties LP                                                                                     | CUSIP: 92564RAK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    555000 | PA      | $518527.53    | 0.00%             | 2028-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| OMV AG                                                                      | OMV AG                                                                                                 | CUSIP: N/A<br>LEI: 549300V62YJ9HTLRI486       | Long             | EC               | CORP              | AT        |     53920 | NS      | $2700865.31   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Vedanta Resources Ltd.                                                      | Vedanta Resources Ltd.                                                                                 | CUSIP: N/A<br>LEI: 2138007MYEKPEAZQTW83       | Long             | DBT              | CORP              | GB        |   1900000 | PA      | $1785168.75   | 0.02%             | 2023-05-31      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| State Oil Co. of the Azerbaijan Republic                                    | State Oil Co. of the Azerbaijan Republic                                                               | CUSIP: N/A<br>LEI: 2549002HARR1VE257O76       | Long             | DBT              | NUSS              | AZ        |    686000 | PA      | $681626.75    | 0.01%             | 2023-03-13      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| UDR, Inc.                                                                   | UDR, Inc.                                                                                              | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |    162428 | NS      | $6917808.52   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-1, Class 1A3             | CUSIP: 9393362F9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    460843 | PA      | $412467.76    | 0.00%             | 2035-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                                | Antero Midstream Partners LP                                                                           | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    470000 | PA      | $455900.00    | 0.00%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 78016FZT4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   3350000 | PA      | $3370835.63   | 0.03%             | 2026-01-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2019-20, Class BS                                                                  | CUSIP: 3136B4MR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    753148 | PA      | $79317.25     | 0.00%             | 2049-05-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Pactiv Evergreen Group Holdings, Inc.                                       | Pactiv Evergreen Group Holdings, Inc., 1st Lien Term Loan B                                            | CUSIP: 76173FAY3<br>LEI: 5493002QNV81KCX40V06 | Long             | LON              | CORP              | US        |    311143 | PA      | $309587.64    | 0.00%             | 2028-09-24      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd.                                                         | Tokyo Electron Ltd.                                                                                    | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |     34700 | NS      | $12128494.09  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Telstra Group Ltd.                                                          | Telstra Group Ltd.                                                                                     | CUSIP: N/A<br>LEI: 894500WRW54CVN62K416       | Long             | EC               | CORP              | AU        |    996658 | NS      | $2880526.41   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| New World Development Co. Ltd.                                              | New World Development Co. Ltd.                                                                         | CUSIP: N/A<br>LEI: 2549008GWMWXTIRL4S48       | Long             | EC               | CORP              | HK        |   1244000 | NS      | $3718197.09   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenandoah Telecommunications Co.                                           | Shenandoah Telecommunications Co.                                                                      | CUSIP: 82312B106<br>LEI: 549300XH3H4OUKFPHS84 | Long             | EC               | CORP              | US        |     78378 | NS      | $1532289.90   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec, Inc.                                                                | MasTec, Inc.                                                                                           | CUSIP: 576323AQ2<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |    305000 | PA      | $276989.05    | 0.00%             | 2029-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Option One Mortgage Loan Trust                                              | Option One Mortgage Loan Trust, Series 2004-3, Class M2                                                | CUSIP: 68389FFU3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    334011 | PA      | $320305.32    | 0.00%             | 2034-11-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Trane Technologies plc                                                      | Trane Technologies plc                                                                                 | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |     58267 | NS      | $10436785.04  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2004-10, Class 3A1                                                             | CUSIP: 45254NLM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         1 | PA      | $1.20         | 0.00%             | 2035-03-25      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Equity LifeStyle Properties, Inc.                                           | Equity LifeStyle Properties, Inc.                                                                      | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     79423 | NS      | $5700982.94   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings, Inc.                                                  | Lamb Weston Holdings, Inc.                                                                             | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |   6671000 | PA      | $6012238.75   | 0.06%             | 2030-01-31      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325DL6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1150000 | PA      | $1040965.63   | 0.01%             | 2027-04-25      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                                              | Takeda Pharmaceutical Co. Ltd.                                                                         | CUSIP: 874060AX4<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $168975.20    | 0.00%             | 2030-03-31      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123BJ8<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    570000 | PA      | $408262.50    | 0.00%             | 2041-01-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ciena Corp.                                                                 | Ciena Corp., 1st Lien Term Loan B                                                                      | CUSIP: 17178HAN2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    525000 | PA      | $524343.75    | 0.01%             | 2030-01-18      | Variable      | 6.98%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2007-1, Class 1A7             | CUSIP: 93935PAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2447755 | PA      | $1749675.56   | 0.02%             | 2037-02-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                                   | Telecom Italia Capital SA                                                                              | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |   1500000 | PA      | $1293570.00   | 0.01%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2006-A7, Class 2A4                                                     | CUSIP: 46629DAR6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    367747 | PA      | $283246.59    | 0.00%             | 2037-01-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| BBCMS MORTGAGE TRUST                                                        | BBCMS MORTGAGE TRUST, Series 2017-C1, Class D                                                          | CUSIP: 07332VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2887000 | PA      | $2157321.72   | 0.02%             | 2050-02-15      | Variable      | 3.54%                 | Yes           |                  2 | On Loan: No      |
| Intrado Corp.                                                               | Intrado Corp., 1st Lien Term Loan B                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    350000 | PA      | $347522.00    | 0.00%             | 2030-01-24      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| PRPM                                                                        | PRPM                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |   4987000 | PA      | $4467377.54   | 0.04%             | 2026-03-25      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AH4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   2982000 | PA      | $2958531.66   | 0.03%             | 2028-05-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Residential Asset Securitization Trust                                      | Residential Asset Securitization Trust, Series 2006-A8, Class 3A1                                      | CUSIP: 761119AP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2565788 | PA      | $1360418.60   | 0.01%             | 2036-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                                   | Williams Cos., Inc. (The)                                                                              | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |    295035 | NS      | $9511928.40   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Altice France SA                                                            | Altice France SA                                                                                       | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   7115000 | PA      | $5584705.80   | 0.05%             | 2029-07-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN16, Class D                                                                        | CUSIP: 065405AL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $1743259.50   | 0.02%             | 2052-02-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254CJ7<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   1105000 | PA      | $1068324.72   | 0.01%             | 2026-03-30      | Variable      | 3.97%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418D3G5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    572515 | PA      | $482623.47    | 0.00%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    910000 | PA      | $726544.00    | 0.01%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Novelis Corp.                                                               | Novelis Corp.                                                                                          | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   4515000 | PA      | $4086075.00   | 0.04%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                        | Ally Financial, Inc.                                                                                   | CUSIP: 02005NBL3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2155000 | PA      | $2104220.14   | 0.02%             | 2023-10-02      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR16, Class 1A1                             | CUSIP: 92922F6W3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    384265 | PA      | $346058.49    | 0.00%             | 2035-12-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2020-B21, Class E                                                     | CUSIP: 08163LBE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $1294953.25   | 0.01%             | 2053-12-17      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                     | Bath & Body Works, Inc.                                                                                | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    932000 | PA      | $849389.88    | 0.01%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| China Merchants Bank Co. Ltd.                                               | China Merchants Bank Co. Ltd., Class H                                                                 | CUSIP: N/A<br>LEI: 549300MKO5B60FFIHF58       | Long             | EC               | CORP              | CN        |   1986000 | NS      | $12881450.96  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: N/A<br>LEI: 529900LOP29R5WKHOD86       | Long             | DBT              | NUSS              | PK        |    767000 | PA      | $303049.37    | 0.00%             | 2051-04-08      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| HDFC Bank Ltd.                                                              | HDFC Bank Ltd.                                                                                         | CUSIP: 40415FAA9<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | DBT              | CORP              | IN        |    100000 | PA      | $87250.00     | 0.00%             | 2026-08-25      | Variable      | 3.70%                 | Yes           |                  2 | On Loan: No      |
| EPIC Crude Services LP                                                      | EPIC Crude Services LP, 1st Lien Term Loan B                                                           | CUSIP: 29428XAB6<br>LEI: 549300FRS682IQ7J9S42 | Long             | LON              | CORP              | US        |   9965067 | PA      | $9020876.63   | 0.09%             | 2026-03-02      | Variable      | 9.74%                 | No            |                  2 | On Loan: No      |
| Republic of Guatemala                                                       | Republic of Guatemala                                                                                  | CUSIP: 401494AR0<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    720000 | PA      | $699435.00    | 0.01%             | 2050-06-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Whataburger                                                                 | Whataburger, 1st Lien Term Loan B                                                                      | CUSIP: 96244UAF4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    801949 | PA      | $792565.71    | 0.01%             | 2028-08-03      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Great-West Lifeco, Inc.                                                     | Great-West Lifeco, Inc.                                                                                | CUSIP: 39138C106<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |    268128 | NS      | $7111523.14   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| FNMA                                                                        | FNMA, REMIC, Series 2018-60, Class SK                                                                  | CUSIP: 3136B2D82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2012307 | PA      | $138645.73    | 0.00%             | 2048-08-25      | Floating      | 1.19%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229AW6<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   6765000 | PA      | $6427020.60   | 0.06%             | 2026-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC, Term Loan B-7                                                                             | CUSIP: 04649VAW0<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    379669 | PA      | $375337.11    | 0.00%             | 2024-11-03      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, STRIPS, Series 279, Class S6                                                                    | CUSIP: 31325TVB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1468919 | PA      | $171261.27    | 0.00%             | 2042-09-15      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The)                                                               | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     19406 | NS      | $3210334.58   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GKG3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    950000 | PA      | $916926.39    | 0.01%             | 2025-02-04      | Variable      | 1.84%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    500000 | PA      | $457281.25    | 0.00%             | 2045-01-27      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Residential Asset Securitization Trust                                      | Residential Asset Securitization Trust, Series 2005-A8CB, Class A11                                    | CUSIP: 45660LSZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1440056 | PA      | $937884.00    | 0.01%             | 2035-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Weyerhaeuser Co.                                                            | Weyerhaeuser Co.                                                                                       | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    195204 | NS      | $6720873.72   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Transocean, Inc.                                                            | Transocean, Inc.                                                                                       | CUSIP: 893830AT6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    220000 | PA      | $156200.00    | 0.00%             | 2038-03-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| PPL Capital Funding, Inc.                                                   | PPL Capital Funding, Inc., Series A                                                                    | CUSIP: 69352PAC7<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |  10991000 | PA      | $9647020.52   | 0.09%             | 2067-03-30      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| Claire's Stores, Inc.                                                       | Claire's Stores, Inc.                                                                                  | CUSIP: N/A<br>LEI: 549300N5HNYXI6JY7625       | Long             | EC               | CORP              | US        |      4186 | NS      | $1360450.00   | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Shopify, Inc.                                                               | Shopify, Inc.                                                                                          | CUSIP: 82509LAA5<br>LEI: 549300HGQ43STJLLP808 | Long             | DBT              | CORP              | CA        |    681000 | PA      | $596896.50    | 0.01%             | 2025-11-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| CSR Ltd.                                                                    | CSR Ltd.                                                                                               | CUSIP: N/A<br>LEI: 549300TOGR54OMW2T093       | Long             | EC               | CORP              | AU        |    730081 | NS      | $2732327.25   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                                                  | Fertitta Entertainment LLC                                                                             | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    208000 | PA      | $183574.56    | 0.00%             | 2029-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| LondonMetric Property plc                                                   | LondonMetric Property plc                                                                              | CUSIP: N/A<br>LEI: 213800OCERWWPQDURL87       | Long             | EC               | CORP              | GB        |   1016859 | NS      | $2369349.20   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Amundi SA                                                                   | Amundi SA                                                                                              | CUSIP: N/A<br>LEI: 96950010FL2T1TJKR531       | Long             | EC               | CORP              | FR        |     36875 | NS      | $2414206.33   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fuyao Glass Industry Group Co. Ltd.                                         | Fuyao Glass Industry Group Co. Ltd., Class H                                                           | CUSIP: N/A<br>LEI: 549300AS5CSLWETN0P64       | Long             | EC               | CORP              | CN        |   1613600 | NS      | $7941426.70   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 6174468X0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     80000 | PA      | $63549.89     | 0.00%             | 2032-04-28      | Variable      | 1.93%                 | No            |                  2 | On Loan: No      |
| Citizens Bank NA                                                            | Citizens Bank NA                                                                                       | CUSIP: 75524KQB3<br>LEI: DRMSV1Q0EKMEXLAU1P80 | Long             | DBT              | CORP              | US        |    446000 | PA      | $445848.78    | 0.00%             | 2026-01-26      | Variable      | 5.28%                 | No            |                  2 | On Loan: No      |
| Multi-Family Connecticut Avenue Securities Trust                            | Multi-Family Connecticut Avenue Securities Trust, Series 2019-01, Class M10                            | CUSIP: 62547NAB5<br>LEI: 549300HG8ZEWVWVSN227 | Long             | ABS-MBS          | CORP              | US        |   4620467 | PA      | $4373354.02   | 0.04%             | 2049-10-25      | Floating      | 7.76%                 | Yes           |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The)                                                                              | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |    112198 | NS      | $6073895.71   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Holdings, Inc.                                                          | LPL Holdings, Inc.                                                                                     | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1122935.20   | 0.01%             | 2027-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| Banco Santander SA                                                          | Banco Santander SA                                                                                     | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |   1411627 | NS      | $4933550.81   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Enel SpA                                                                    | Enel SpA                                                                                               | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |    410209 | NS      | $2415359.88   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-KF31, Class B                                                        | CUSIP: 302951AG3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1322259 | PA      | $1310644.06   | 0.01%             | 2024-04-25      | Floating      | 7.29%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   2100000 | PA      | $1437135.00   | 0.01%             | 2060-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                            | Bank of Montreal, Series H                                                                             | CUSIP: 06368LAQ9<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $105438.57    | 0.00%             | 2027-09-14      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PetSmart, Inc.                                                              | PetSmart, Inc.                                                                                         | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1976000 | PA      | $1941895.68   | 0.02%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Eiffage SA                                                                  | Eiffage SA                                                                                             | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |     23558 | NS      | $2516243.22   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| WH Smith plc                                                                | WH Smith plc                                                                                           | CUSIP: N/A<br>LEI: 2138001KJNGUJ34G7X91       | Long             | DBT              | CORP              | GB        |    500000 | PA      | $566068.46    | 0.01%             | 2026-05-07      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| D/S Norden A/S                                                              | D/S Norden A/S                                                                                         | CUSIP: N/A<br>LEI: 529900RGXD3CBR3BRU63       | Long             | EC               | CORP              | DK        |     55133 | NS      | $2971966.02   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-NP5, Class CERT                                 | CUSIP: 52608RAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $5691953.20   | 0.05%             | 2037-06-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Nationstar Mortgage Holdings, Inc.                                          | Nationstar Mortgage Holdings, Inc.                                                                     | CUSIP: 63861CAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2190000 | PA      | $1773900.00   | 0.02%             | 2030-12-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: —       |
| Realtek Semiconductor Corp.                                                 | Realtek Semiconductor Corp.                                                                            | CUSIP: N/A<br>LEI: 5299002E7F36O00MYY75       | Long             | EC               | CORP              | TW        |    405000 | NS      | $4349249.96   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Drainage Systems, Inc.                                             | Advanced Drainage Systems, Inc.                                                                        | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    466000 | PA      | $463011.54    | 0.00%             | 2030-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Vodafone Group plc                                                          | Vodafone Group plc                                                                                     | CUSIP: 92857WBW9<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |   7100000 | PA      | $5748160.00   | 0.06%             | 2081-06-04      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Nomura Asset Acceptance Corp. Alternative Loan Trust                        | Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2005-WF1, Class 2A5                       | CUSIP: 65535VKX5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2600 | PA      | $2547.51      | 0.00%             | 2035-03-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123DF4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   4376000 | PA      | $4490870.00   | 0.04%             | 2028-01-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| RR Donnelley & Sons Co.                                                     | RR Donnelley & Sons Co.                                                                                | CUSIP: 257867BE0<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    450000 | PA      | $398812.50    | 0.00%             | 2027-07-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Upstart Pass-Through Trust                                                  | Upstart Pass-Through Trust, Series 2022-PT3, Class A                                                   | CUSIP: 91681DAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2253833 | PA      | $2407283.71   | 0.02%             | 2030-04-20      | Variable      | 18.00%                | Yes           |                  3 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2018-KSW4, Class C                                                        | CUSIP: 302960AH2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2731693 | PA      | $2405934.64   | 0.02%             | 2028-10-25      | Floating      | 9.39%                 | No            |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                                       | WMG Acquisition Corp.                                                                                  | CUSIP: 92933BAT1<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |   5211000 | PA      | $4560887.16   | 0.04%             | 2029-12-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Regency Centers Corp.                                                       | Regency Centers Corp.                                                                                  | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     99853 | NS      | $6653205.39   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp.                                                       | Range Resources Corp.                                                                                  | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |   3812000 | PA      | $3918888.48   | 0.04%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NorthWestern Corp.                                                          | NorthWestern Corp.                                                                                     | CUSIP: 668074305<br>LEI: 3BPWMBHR1R9SHUN7J795 | Long             | EC               | CORP              | US        |     49840 | NS      | $2830912.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International                                                   | MGM Resorts International                                                                              | CUSIP: 552953CE9<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   6662000 | PA      | $6577880.92   | 0.06%             | 2025-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2012-GCJ9, Class D                                                | CUSIP: 36192PAK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    442562 | PA      | $409413.74    | 0.00%             | 2045-11-10      | Variable      | 4.80%                 | Yes           |                  2 | On Loan: No      |
| A2A SpA                                                                     | A2A SpA                                                                                                | CUSIP: N/A<br>LEI: 81560076E3944316DB24       | Long             | EC               | CORP              | IT        |   5514329 | NS      | $8301732.75   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                                                | Intelsat Jackson Holdings SA                                                                           | CUSIP: 45824TBC8<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | DBT              | CORP              | LU        |  16396000 | PA      | $14887568.00  | 0.14%             | 2030-03-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205AU8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   1700000 | PA      | $1549125.00   | 0.01%             | 2028-10-12      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2005-31, Class 2A1                                             | CUSIP: 126694UL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    542506 | PA      | $461989.96    | 0.00%             | 2036-01-25      | Variable      | 3.21%                 | No            |                  2 | On Loan: No      |
| N/A                                                                         | U.S. Treasury 10 Year Note                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |     19009 | NC      | $38272351.11  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Countrywide Asset-Backed Certificates                                       | Countrywide Asset-Backed Certificates, Series 2004-ECC2, Class M2                                      | CUSIP: 126673CR1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    113404 | PA      | $111636.20    | 0.00%             | 2034-12-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Sabre Holdings Corp.                                                        | Sabre Holdings Corp., 1st Lien Term Loan B                                                             | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    268896 | PA      | $247217.74    | 0.00%             | 2027-12-17      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Imperial Brands plc                                                         | Imperial Brands plc                                                                                    | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |    289018 | NS      | $7250377.75   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Lebanese Republic                                                           | Lebanese Republic                                                                                      | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |    625000 | PA      | $40156.25     | 0.00%             | 2024-04-22      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| Altria Group, Inc.                                                          | Altria Group, Inc.                                                                                     | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    132536 | NS      | $5969421.44   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Senegal                                                         | Republic of Senegal                                                                                    | CUSIP: 81720TAD7<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |    460000 | PA      | $343850.00    | 0.00%             | 2048-03-13      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: N/A<br>LEI: 529900LOP29R5WKHOD86       | Long             | DBT              | NUSS              | PK        |   1630000 | PA      | $917054.30    | 0.01%             | 2024-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Terex Corp.                                                                 | Terex Corp.                                                                                            | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |   5609000 | PA      | $5237403.75   | 0.05%             | 2029-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Synaptics, Inc.                                                             | Synaptics, Inc.                                                                                        | CUSIP: 87157DAG4<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | DBT              | CORP              | US        |   1584000 | PA      | $1371608.01   | 0.01%             | 2029-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397ZJ5<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   9424000 | PA      | $9152569.01   | 0.09%             | 2025-06-09      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                                                  | PG&E Corp., Exit Term Loan                                                                             | CUSIP: 69338CAH4<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | LON              | CORP              | US        |    317844 | PA      | $317208.45    | 0.00%             | 2025-06-23      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                                               | Citigroup Mortgage Loan Trust, Series 2006-AR3, Class 1A1A                                             | CUSIP: 17306SAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    891355 | PA      | $804666.41    | 0.01%             | 2036-06-25      | Variable      | 3.42%                 | No            |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                | MASTR Alternative Loan Trust, Series 2005-3, Class 1A1                                                 | CUSIP: 576434L93<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    125377 | PA      | $114746.95    | 0.00%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp.                                                           | FirstEnergy Corp., Series A                                                                            | CUSIP: 337932AN7<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     51000 | PA      | $45778.06     | 0.00%             | 2026-01-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| Thaioil Treasury Center Co. Ltd.                                            | Thaioil Treasury Center Co. Ltd.                                                                       | CUSIP: 88323AAE2<br>LEI: 549300NH03B9E8VGJR89 | Long             | DBT              | CORP              | TH        |    300000 | PA      | $191868.75    | 0.00%             | 2049-10-17      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| EnLink Midstream LLC                                                        | EnLink Midstream LLC                                                                                   | CUSIP: 29336TAD2<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |   1268000 | PA      | $1291775.00   | 0.01%             | 2030-09-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Konecranes OYJ                                                              | Konecranes OYJ                                                                                         | CUSIP: N/A<br>LEI: 549300EF0CDEQZBMA096       | Long             | EC               | CORP              | FI        |     52864 | NS      | $1720274.27   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Tri Pointe Homes, Inc.                                                      | Tri Pointe Homes, Inc.                                                                                 | CUSIP: 87265HAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $940860.00    | 0.01%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CSMC Mortgage-Backed Trust                                                  | CSMC Mortgage-Backed Trust, Series 2006-8, Class 5A1                                                   | CUSIP: 22942MBF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     34636 | PA      | $31719.52     | 0.00%             | 2026-10-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| EnPro Industries, Inc.                                                      | EnPro Industries, Inc.                                                                                 | CUSIP: 29355XAG2<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |    407000 | PA      | $398351.25    | 0.00%             | 2026-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENN Clean Energy International Investment Ltd.                              | ENN Clean Energy International Investment Ltd.                                                         | CUSIP: N/A<br>LEI: 3003009YZ3S5V395NR77       | Long             | DBT              | CORP              | VG        |   1700000 | PA      | $1532125.00   | 0.01%             | 2026-05-12      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Acerinox SA                                                                 | Acerinox SA                                                                                            | CUSIP: N/A<br>LEI: 95980020140005582721       | Long             | EC               | CORP              | ES        |    204115 | NS      | $2210553.91   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sinochem Offshore Capital Co. Ltd.                                          | Sinochem Offshore Capital Co. Ltd.                                                                     | CUSIP: N/A<br>LEI: 3003004LKKZ33WMP2P47       | Long             | DBT              | CORP              | VG        |    400000 | PA      | $320500.00    | 0.00%             | 2031-09-23      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| Power Assets Holdings Ltd.                                                  | Power Assets Holdings Ltd.                                                                             | CUSIP: N/A<br>LEI: 254900JOWYUW1ZX4DF47       | Long             | EC               | CORP              | HK        |    485500 | NS      | $2747040.50   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2021-R03, Class 1B1                                        | CUSIP: 20754AAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1870389.40   | 0.02%             | 2041-12-25      | Floating      | 7.06%                 | Yes           |                  2 | On Loan: No      |
| Safestore Holdings plc                                                      | Safestore Holdings plc                                                                                 | CUSIP: N/A<br>LEI: 213800WGA3YSJC1YOH73       | Long             | EC               | CORP              | GB        |    188869 | NS      | $2351741.11   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    200000 | PA      | $200750.00    | 0.00%             | 2029-09-20      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series AA                                                                       | CUSIP: 060505EN0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3053000 | PA      | $3054221.20   | 0.03%             | 2025-03-17      | Variable      | 6.10%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                                                      | Encompass Health Corp.                                                                                 | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   3400000 | PA      | $2992663.85   | 0.03%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Gjensidige Forsikring ASA                                                   | Gjensidige Forsikring ASA                                                                              | CUSIP: N/A<br>LEI: 5967007LIEEXZX6FAO47       | Long             | EC               | CORP              | NO        |    120513 | NS      | $2166035.17   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MASTR Asset-Backed Securities Trust                                         | MASTR Asset-Backed Securities Trust, Series 2004-OPT2, Class M2                                        | CUSIP: 57643LEX0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    554252 | PA      | $528414.79    | 0.01%             | 2034-09-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Shell International Finance BV                                              | Shell International Finance BV                                                                         | CUSIP: 822582CG5<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |     85000 | PA      | $77498.50     | 0.00%             | 2030-04-06      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co. Ltd.                                            | Shinhan Financial Group Co. Ltd.                                                                       | CUSIP: N/A<br>LEI: 988400EB8A6G49E5KO54       | Long             | EC               | CORP              | KR        |    253437 | NS      | $8569820.24   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2015-35, Class SA                                                                  | CUSIP: 3136ANL88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2905868 | PA      | $212934.72    | 0.00%             | 2045-06-25      | Floating      | 1.09%                 | No            |                  2 | On Loan: No      |
| Getty Images, Inc.                                                          | Getty Images, Inc., 1st Lien Term Loan B                                                               | CUSIP: 37427UAJ9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    393917 | PA      | $393916.99    | 0.00%             | 2026-02-19      | Variable      | 9.12%                 | No            |                  2 | On Loan: No      |
| FHLMC STACR                                                                 | FHLMC STACR, Series 2019-HQA3, Class B1                                                                | CUSIP: 35564XBD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2977786.50   | 0.03%             | 2049-09-25      | Floating      | 7.51%                 | Yes           |                  2 | On Loan: No      |
| Wolters Kluwer NV                                                           | Wolters Kluwer NV                                                                                      | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               | CORP              | NL        |     24153 | NS      | $2633232.29   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| General Dynamics Corp.                                                      | General Dynamics Corp.                                                                                 | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |     21318 | NS      | $4968373.08   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Imola Merger Corp.                                                          | Imola Merger Corp.                                                                                     | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9156000 | PA      | $7965720.00   | 0.08%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325CX1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    350000 | PA      | $334206.25    | 0.00%             | 2026-01-28      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Mediobanca Banca di Credito Finanziario SpA                                 | Mediobanca Banca di Credito Finanziario SpA                                                            | CUSIP: N/A<br>LEI: PSNL19R2RXX5U3QWHI44       | Long             | EC               | CORP              | IT        |    212386 | NS      | $2283137.94   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2004-AR11, Class A                               | CUSIP: 92922FYA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    511816 | PA      | $463236.01    | 0.00%             | 2034-10-25      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| Physicians Realty LP                                                        | Physicians Realty LP                                                                                   | CUSIP: 71951QAB8<br>LEI: 549300P6Q1UMT0X60U20 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56413.87     | 0.00%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                        | American Tower Corp.                                                                                   | CUSIP: 03027XBJ8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    337000 | PA      | $285154.92    | 0.00%             | 2028-01-31      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Bellemeade Re Ltd.                                                          | Bellemeade Re Ltd., Series 2019-1A, Class M2                                                           | CUSIP: 07876RAC0<br>LEI: 254900K56RF3Z7VQ3U81 | Long             | ABS-MBS          | CORP              | BM        |   1000000 | PA      | $1007016.30   | 0.01%             | 2029-03-25      | Floating      | 7.21%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |   1170000 | PA      | $1148062.50   | 0.01%             | 2048-01-17      | Fixed         | 6.75%                 | Yes           |                  2 | 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        |   3531040 | NS      | $13791879.77  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Moran Foods LLC                                                             | Moran Foods LLC, 2nd Lien Term Loan                                                                    | CUSIP: 61647DAR3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1663566 | PA      | $1090467.75   | 0.01%             | 2026-12-31      | Variable      | 14.18%                | No            |                  3 | On Loan: No      |
| Block, Inc.                                                                 | Block, Inc.                                                                                            | CUSIP: 852234AK9<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   1117000 | PA      | $894996.25    | 0.01%             | 2027-11-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| DT Midstream, Inc.                                                          | DT Midstream, Inc.                                                                                     | CUSIP: 23345MAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1612000 | PA      | $1410051.86   | 0.01%             | 2031-06-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Petroleos del Peru SA                                                       | Petroleos del Peru SA                                                                                  | CUSIP: 716564AA7<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | NUSS              | PE        |    500000 | PA      | $381250.00    | 0.00%             | 2032-06-19      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Gates Global LLC                                                            | Gates Global LLC, 1st Lien Term Loan                                                                   | CUSIP: 36740UAT9<br>LEI: 549300XI79MQJV13DW27 | Long             | LON              | CORP              | US        |    549856 | PA      | $547315.91    | 0.01%             | 2027-03-31      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KC03, Class B                                                        | CUSIP: 30297UAA0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2304000 | PA      | $2178710.78   | 0.02%             | 2026-01-25      | Variable      | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Deere & Co.                                                                 | Deere & Co.                                                                                            | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     22254 | NS      | $9409881.36   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| 1011778 BC ULC                                                              | 1011778 BC ULC                                                                                         | CUSIP: 68245XAP4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1481000 | PA      | $1295787.44   | 0.01%             | 2029-02-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Sysco Corp.                                                                 | Sysco Corp.                                                                                            | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     39800 | NS      | $3082908.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1933000 | PA      | $1838089.70   | 0.02%             | 2028-03-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trust                                             | CSAIL Commercial Mortgage Trust, Series 2015-C4, Class C                                               | CUSIP: 12635RBD9<br>LEI: 54930025J96YEH8FQE77 | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2265034.25   | 0.02%             | 2048-11-15      | Variable      | 4.56%                 | No            |                  2 | On Loan: No      |
| Global Medical Response, Inc.                                               | Global Medical Response, Inc.                                                                          | CUSIP: 37960BAA3<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |   2285000 | PA      | $1606857.70   | 0.02%             | 2025-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Dropbox, Inc.                                                               | Dropbox, Inc.                                                                                          | CUSIP: 26210CAC8<br>LEI: 549300JCDF7UAR6TJR51 | Long             | DBT              | CORP              | US        |    999000 | PA      | $917082.00    | 0.01%             | 2026-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ams-OSRAM AG                                                                | ams-OSRAM AG                                                                                           | CUSIP: 03217CAA4<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |   1280000 | PA      | $1232041.89   | 0.01%             | 2025-07-31      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| Mileage Plus Holdings LLC                                                   | Mileage Plus Holdings LLC                                                                              | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4009500 | PA      | $4050837.95   | 0.04%             | 2027-06-20      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Truist Financial Corp.                                                      | Truist Financial Corp., Series R                                                                       | CUSIP: 89832Q695<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |    104000 | NS      | $2308800.00   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sundyne                                                                     | Sundyne, 1st Lien Term Loan B                                                                          | CUSIP: 85519WAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    605335 | PA      | $593228.65    | 0.01%             | 2027-03-17      | Variable      | 8.98%                 | No            |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                                        | Owens-Brockway Glass Container, Inc.                                                                   | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   2263000 | PA      | $2218651.56   | 0.02%             | 2027-05-13      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Ventas, Inc.                                                                | Ventas, Inc.                                                                                           | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |    232444 | NS      | $12042923.64  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |   1250000 | PA      | $1078359.38   | 0.01%             | 2048-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                               | Asbury Automotive Group, Inc.                                                                          | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    412000 | PA      | $372487.94    | 0.00%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: 68205LAT0<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    301000 | PA      | $304386.25    | 0.00%             | 2051-01-25      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-80, Class AS                                                                         | CUSIP: 38376U3F4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2694315 | PA      | $338313.81    | 0.00%             | 2047-05-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2013-7                                                                                    | CUSIP: 38378B4P1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  34713054 | PA      | $285001.12    | 0.00%             | 2053-05-16      | Variable      | 0.30%                 | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                                     | Fremont Home Loan Trust, Series 2004-D, Class M1                                                       | CUSIP: 35729PGC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1326518 | PA      | $1142686.32   | 0.01%             | 2034-11-25      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| DexKo Global, Inc.                                                          | DexKo Global, Inc., 1st Lien Term Loan B                                                               | CUSIP: 25213YAU9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5607748 | PA      | $5168268.33   | 0.05%             | 2028-10-04      | Variable      | 8.48%                 | No            |                  2 | On Loan: No      |
| Becton Dickinson and Co.                                                    | Becton Dickinson and Co.                                                                               | CUSIP: 075887CJ6<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    356000 | PA      | $316673.91    | 0.00%             | 2030-05-20      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| IGM Financial, Inc.                                                         | IGM Financial, Inc.                                                                                    | CUSIP: 449586106<br>LEI: 254900RYHLVJNTUFDA95 | Long             | EC               | CORP              | CA        |    142405 | NS      | $4444838.34   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Consensus Cloud Solutions, Inc.                                             | Consensus Cloud Solutions, Inc.                                                                        | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    844000 | PA      | $790161.24    | 0.01%             | 2028-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   3606000 | PA      | $3395193.24   | 0.03%             | 2027-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Tesco plc                                                                   | Tesco plc                                                                                              | CUSIP: N/A<br>LEI: 2138002P5RNKC5W2JZ46       | Long             | EC               | CORP              | GB        |    876141 | NS      | $2662927.76   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Mallinckrodt International Finance SA                                       | Mallinckrodt International Finance SA                                                                  | CUSIP: 561233AM9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   8610000 | PA      | $7614675.39   | 0.07%             | 2028-12-15      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| FANUC Corp.                                                                 | FANUC Corp.                                                                                            | CUSIP: N/A<br>LEI: 529900QTSW745LOKW705       | Long             | EC               | CORP              | JP        |     81600 | NS      | $14417879.21  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                                                                | Iberdrola SA                                                                                           | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |   1934923 | NS      | $22700074.47  | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                                                 | Cie Financiere Richemont SA (Registered)                                                               | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |     40524 | NS      | $6247071.60   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-3CB, Class 1A13                                                    | CUSIP: 12667FY33<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5652928 | PA      | $4899029.46   | 0.05%             | 2035-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-R1, Class B1                                                   | CUSIP: 92538BAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1573122.60   | 0.02%             | 2063-10-25      | Variable      | 3.19%                 | Yes           |                  2 | On Loan: No      |
| Randstad NV                                                                 | Randstad NV                                                                                            | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |     49725 | NS      | $3187291.68   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   3057000 | PA      | $2758942.50   | 0.03%             | 2029-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                                         | Constellation Energy Generation LLC                                                                    | CUSIP: 21038QPN8<br>LEI: S2PEWKCZFFECR4533P43 | Long             | STIV             | CORP              | US        |    450000 | PA      | $448549.10    | 0.00%             | 2023-02-22      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Vishay Intertechnology, Inc.                                                | Vishay Intertechnology, Inc.                                                                           | CUSIP: 928298AP3<br>LEI: 5493009O8F3QQJTCQR75 | Long             | DBT              | CORP              | US        |    756000 | PA      | $753202.80    | 0.01%             | 2025-06-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                                       | Sirius XM Radio, Inc.                                                                                  | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2563488.00   | 0.02%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP                                                           | Genesis Energy LP                                                                                      | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2135000 | PA      | $2169693.75   | 0.02%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Consolidated Edison, Inc.                                                   | Consolidated Edison, Inc.                                                                              | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     70917 | NS      | $6759099.27   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967MF5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4255000 | PA      | $4163079.28   | 0.04%             | 2025-04-24      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Affirm Asset Securitization Trust                                           | Affirm Asset Securitization Trust, Series 2022-A, Class 1E                                             | CUSIP: 00834WAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1060000 | PA      | $1002123.68   | 0.01%             | 2027-05-17      | Fixed         | 8.04%                 | Yes           |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp                                                                                             | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   6765000 | PA      | $5910918.75   | 0.06%             | 2027-01-15      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                                 | Acadia Healthcare Co., Inc.                                                                            | CUSIP: 00404AAP4<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |   2490000 | PA      | $2328399.00   | 0.02%             | 2029-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                                           | PennyMac Financial Services, Inc.                                                                      | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    525000 | PA      | $441260.19    | 0.00%             | 2031-09-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CVS Health Corp.                                                            | CVS Health Corp.                                                                                       | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    255000 | PA      | $244085.59    | 0.00%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Coherent Corp.                                                              | Coherent Corp.                                                                                         | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |   6119000 | PA      | $5556992.80   | 0.05%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                          | Renaissance Home Equity Loan Trust, Series 2003-4, Class M1                                            | CUSIP: 759950BT4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1080425 | PA      | $950583.47    | 0.01%             | 2034-03-25      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95000U2K8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   6420000 | PA      | $6057923.88   | 0.06%             | 2026-02-11      | Variable      | 2.16%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4097, Class ES                                                                    | CUSIP: 3137ATJQ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2672249 | PA      | $300360.27    | 0.00%             | 2042-08-15      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                 | Caesars Entertainment, Inc.                                                                            | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   2430000 | PA      | $2077650.00   | 0.02%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Consumer Loan Underlying Bond Certificate Issuer Trust I                    | Consumer Loan Underlying Bond Certificate Issuer Trust I, Series 2020-9, Class PT                      | CUSIP: 21055VAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    841351 | PA      | $802438.48    | 0.01%             | 2045-04-15      | Variable      | 8.32%                 | Yes           |                  3 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     80000 | PA      | $66068.56     | 0.00%             | 2032-10-20      | Variable      | 2.51%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series U                                                                              | CUSIP: 172967MG3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   9490000 | PA      | $9062950.00   | 0.09%             | 2024-09-12      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |    488859 | NS      | $7802189.64   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings, Inc.                                                    | Equitable Holdings, Inc., Series B                                                                     | CUSIP: 29452EAA9<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |    786000 | PA      | $762328.86    | 0.01%             | 2025-09-15      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                                     | Santander Bank Auto Credit-Linked Notes, Series 2022-C, Class B                                        | CUSIP: 80290CBF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    552704 | PA      | $552933.42    | 0.01%             | 2032-12-15      | Fixed         | 6.45%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-4, Class 2A5                               | CUSIP: 225458PS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2225094 | PA      | $1563959.53   | 0.02%             | 2035-06-25      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                                                         | DT Auto Owner Trust, Series 2019-2A, Class E                                                           | CUSIP: 26252TAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4167000 | PA      | $4121080.49   | 0.04%             | 2026-05-15      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| Coca-Cola Europacific Partners plc                                          | Coca-Cola Europacific Partners plc                                                                     | CUSIP: N/A<br>LEI: 549300LTH67W4GWMRF57       | Long             | EC               | CORP              | GB        |     74767 | NS      | $4203400.74   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K734, Class X3                        | CUSIP: 3137FLN67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  13025000 | PA      | $780489.26    | 0.01%             | 2026-07-25      | Variable      | 2.17%                 | No            |                  2 | On Loan: No      |
| Italgas SpA                                                                 | Italgas SpA                                                                                            | CUSIP: N/A<br>LEI: 815600F25FF44EF1FA76       | Long             | EC               | CORP              | IT        |    448281 | NS      | $2624104.02   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                          | Southern Co. (The)                                                                                     | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    132079 | NS      | $8939106.72   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Affirm Holdings, Inc.                                                       | Affirm Holdings, Inc.                                                                                  | CUSIP: 00827BAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1508000 | PA      | $952905.20    | 0.01%             | 2026-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                                       | WR Grace Holdings LLC                                                                                  | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1531000 | PA      | $1276088.50   | 0.01%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                                | Tallgrass Energy Partners LP                                                                           | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1703000 | PA      | $1551058.34   | 0.01%             | 2030-12-31      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Endo Pharmaceuticals, Inc.                                                  | Endo Pharmaceuticals, Inc., 1st Lien Term Loan B                                                       | CUSIP: L2968EAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    196906 | PA      | $158952.62    | 0.00%             | 2028-03-27      | Variable      | 13.50%                | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, STRIPS, Series 316, Class S7                                                                    | CUSIP: 31325UU20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1884358 | PA      | $198730.07    | 0.00%             | 2043-11-15      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Boise Cascade Co.                                                           | Boise Cascade Co.                                                                                      | CUSIP: 09739DAD2<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | DBT              | CORP              | US        |    852000 | PA      | $766205.22    | 0.01%             | 2030-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| PGT Innovations, Inc.                                                       | PGT Innovations, Inc.                                                                                  | CUSIP: 69336VAB7<br>LEI: 549300LRW9WM59C1S579 | Long             | DBT              | CORP              | US        |   2099000 | PA      | $1810870.27   | 0.02%             | 2029-10-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Kyushu Railway Co.                                                          | Kyushu Railway Co.                                                                                     | CUSIP: N/A<br>LEI: 5299002CCI6HLWAN3K50       | Long             | EC               | CORP              | JP        |    181500 | NS      | $4068624.44   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2017-GS5, Class D                                                 | CUSIP: 36252HAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2900000 | PA      | $2077943.38   | 0.02%             | 2050-03-10      | Variable      | 3.51%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2015-NXS1, Class E                                       | CUSIP: 94989HBR0<br>LEI: 5493002S7XBI8CVRR075 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1167385.80   | 0.01%             | 2048-05-15      | Variable      | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Kimco Realty Corp.                                                          | Kimco Realty Corp.                                                                                     | CUSIP: 49446R109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    351827 | NS      | $7902034.42   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: 456837AY9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1535000 | PA      | $1245499.00   | 0.01%             | 2027-05-16      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                                  | Builders FirstSource, Inc.                                                                             | CUSIP: 12008RAR8<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   3328000 | PA      | $3258214.90   | 0.03%             | 2032-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Annaly Capital Management, Inc.                                             | Annaly Capital Management, Inc.                                                                        | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |    291531 | NS      | $6842232.57   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                                                                     | MPLX LP                                                                                                | CUSIP: 55336VAM2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    141000 | PA      | $128085.97    | 0.00%             | 2038-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KG01, Class B                                                        | CUSIP: 30298CAS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   4765000 | PA      | $4082170.26   | 0.04%             | 2029-04-25      | Variable      | 4.17%                 | Yes           |                  2 | On Loan: No      |
| FREMF 2023-KF149 Mortgage Trust                                             | FREMF Mortgage Trust, Series 2023-KF149, Class CS                                                      | CUSIP: 35709HAE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  10000000 | PA      | $10234376.00  | 0.10%             | 2032-12-25      | Floating      | 10.21%                | Yes           |                  3 | On Loan: No      |
| Snam SpA                                                                    | Snam SpA                                                                                               | CUSIP: N/A<br>LEI: 8156002278562044AF79       | Long             | EC               | CORP              | IT        |    554673 | NS      | $2825243.73   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HU7<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   1486160 | PA      | $543191.48    | 0.01%             | 2038-01-09      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                                | Scotts Miracle-Gro Co. (The)                                                                           | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   3297000 | PA      | $2687450.64   | 0.03%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-86CB, Class A4                                                     | CUSIP: 12668BFD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    292071 | PA      | $178485.18    | 0.00%             | 2036-02-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Electric Power Development Co. Ltd.                                         | Electric Power Development Co. Ltd.                                                                    | CUSIP: N/A<br>LEI: 549300KMHPUAQI8VEH90       | Long             | EC               | CORP              | JP        |    332600 | NS      | $5367674.38   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     32360 | NS      | $1689839.20   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group plc                                                                | 3i Group plc                                                                                           | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |    192463 | NS      | $3754905.08   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| FMG Resources August 2006 Pty. Ltd.                                         | FMG Resources August 2006 Pty. Ltd.                                                                    | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     75000 | PA      | $73125.00     | 0.00%             | 2032-04-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Chase Mortgage Finance Trust                                                | Chase Mortgage Finance Trust, Series 2007-A2, Class 3A1                                                | CUSIP: 16163LAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         2 | PA      | $1.91         | 0.00%             | 2035-06-25      | Variable      | 3.72%                 | No            |                  2 | On Loan: No      |
| Vail Resorts, Inc.                                                          | Vail Resorts, Inc.                                                                                     | CUSIP: 91879QAL3<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   1142000 | PA      | $1147461.62   | 0.01%             | 2025-05-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                  | Charles Schwab Corp. (The), Series G                                                                   | CUSIP: 808513BD6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   5151000 | PA      | $5110822.20   | 0.05%             | 2025-06-01      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Wheel Pros, Inc.                                                            | Wheel Pros, Inc., 1st Lien Term Loan                                                                   | CUSIP: 96289EAG4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    432020 | PA      | $298033.36    | 0.00%             | 2028-05-11      | Variable      | 9.32%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                                             | Air Lease Corp.                                                                                        | CUSIP: 00914AAU6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1597000 | PA      | $1594355.72   | 0.02%             | 2028-02-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ACE Securities Corp. Home Equity Loan Trust                                 | ACE Securities Corp. Home Equity Loan Trust, Series 2004-OP1, Class M2                                 | CUSIP: 004421EX7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1619605 | PA      | $1560977.76   | 0.02%             | 2034-04-25      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-OA5, Class 2A1                                            | CUSIP: 126694M96<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1567176 | PA      | $1298255.53   | 0.01%             | 2046-04-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| NOS SGPS SA                                                                 | NOS SGPS SA                                                                                            | CUSIP: N/A<br>LEI: 5493004DM8FGIY6QKF37       | Long             | EC               | CORP              | PT        |    431985 | NS      | $1852478.09   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BP plc                                                                      | BP plc                                                                                                 | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |   2554305 | NS      | $15428652.84  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: 06738ECC7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   3775000 | PA      | $3963152.27   | 0.04%             | 2026-11-02      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| International Game Technology plc                                           | International Game Technology plc                                                                      | CUSIP: 460599AC7<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |   2808000 | PA      | $2837427.84   | 0.03%             | 2025-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-HE7, Class M2                                    | CUSIP: 61744CGE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155292 | PA      | $149492.99    | 0.00%             | 2034-08-25      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                                          | Altria Group, Inc.                                                                                     | CUSIP: 02209SBD4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     83000 | PA      | $82100.00     | 0.00%             | 2029-02-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Vistra Corp.                                                                | Vistra Corp.                                                                                           | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   1712000 | PA      | $1600720.00   | 0.02%             | 2026-12-15      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| VM Consolidated, Inc.                                                       | VM Consolidated, Inc.                                                                                  | CUSIP: 91835HAA0<br>LEI: 549300GCTGJLEBXJUK89 | Long             | DBT              | CORP              | US        |    307000 | PA      | $282823.75    | 0.00%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Trust                                                  | CSFB Mortgage-Backed Trust, Series 2004-AR6, Class 7A1                                                 | CUSIP: 22541SNZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    365254 | PA      | $363308.94    | 0.00%             | 2034-10-25      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| Chugoku Electric Power Co., Inc. (The)                                      | Chugoku Electric Power Co., Inc. (The)                                                                 | CUSIP: N/A<br>LEI: 353800MV866ELME96Q46       | Long             | EC               | CORP              | JP        |    157600 | NS      | $866403.37    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Itau Unibanco Holding SA                                                    | Itau Unibanco Holding SA (Preference)                                                                  | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EC               | CORP              | BR        |   1441382 | NS      | $7192286.91   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| British Telecommunications plc                                              | British Telecommunications plc                                                                         | CUSIP: 111021AM3<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $248322.24    | 0.00%             | 2023-12-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc., Series C                                                                        | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   5175000 | PA      | $4631625.00   | 0.04%             | 2027-01-15      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class D                                        | CUSIP: 94989JBH8<br>LEI: 549300S7ENI2U7O0XH56 | Long             | ABS-MBS          | CORP              | US        |   7740000 | PA      | $6605738.60   | 0.06%             | 2048-05-15      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                | DaVita, Inc.                                                                                           | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   6306000 | PA      | $4902915.00   | 0.05%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-8, Class 4A3                               | CUSIP: 22541SW38<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     83000 | PA      | $76440.51     | 0.00%             | 2034-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                                           | Yum! Brands, Inc.                                                                                      | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   3422000 | PA      | $3113472.48   | 0.03%             | 2032-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Singapore Telecommunications Ltd.                                           | Singapore Telecommunications Ltd.                                                                      | CUSIP: N/A<br>LEI: 2549003XJKIQO8YDYD89       | Long             | EC               | CORP              | SG        |   1460500 | NS      | $2797096.19   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                                               | UniCredit SpA                                                                                          | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | DBT              | CORP              | IT        |   1200000 | PA      | $1293018.82   | 0.01%             | 2026-06-03      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                  | Constellation Brands, Inc.                                                                             | CUSIP: 21036PBH0<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    333000 | PA      | $274752.37    | 0.00%             | 2031-08-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                                                         | DT Auto Owner Trust, Series 2021-4A, Class D                                                           | CUSIP: 26253WAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    963000 | PA      | $876771.73    | 0.01%             | 2027-09-15      | Fixed         | 1.99%                 | Yes           |                  2 | On Loan: No      |
| XPO Escrow Sub LLC                                                          | XPO Escrow Sub LLC                                                                                     | CUSIP: 98379JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2956000 | PA      | $3037585.60   | 0.03%             | 2027-11-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                                                     | BPCE SA                                                                                                | CUSIP: 05583JAF9<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $247550.00    | 0.00%             | 2023-09-12      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                           | Credit Acceptance Auto Loan Trust, Series 2022-3A, Class A                                             | CUSIP: 22534QAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $409069.24    | 0.00%             | 2032-10-15      | Fixed         | 6.57%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2021-R01, Class 1B1                                        | CUSIP: 20754RAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5200000 | PA      | $4974112.00   | 0.05%             | 2041-10-25      | Floating      | 7.41%                 | Yes           |                  2 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2017-CD6, Class C                                                            | CUSIP: 125039AK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1370690 | PA      | $1184940.40   | 0.01%             | 2050-11-13      | Variable      | 4.23%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418ECA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16908 | PA      | $15371.08     | 0.00%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                                       | Coinbase Global, Inc.                                                                                  | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |   1613000 | PA      | $1040385.00   | 0.01%             | 2028-10-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: —       |
| EDP - Energias de Portugal SA                                               | EDP - Energias de Portugal SA                                                                          | CUSIP: N/A<br>LEI: 529900CLC3WDMGI9VH80       | Long             | EC               | CORP              | PT        |    528366 | NS      | $2625058.89   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Stevens Holding Co., Inc.                                                   | Stevens Holding Co., Inc.                                                                              | CUSIP: 86024TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1940000 | PA      | $1968828.40   | 0.02%             | 2026-10-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| TransDigm Group, Inc.                                                       | TransDigm Group, Inc., 1st Lien Term Loan E                                                            | CUSIP: 89364MBQ6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    417331 | PA      | $416208.42    | 0.00%             | 2025-05-30      | Variable      | 6.98%                 | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                                | Tallgrass Energy Partners LP                                                                           | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    680000 | PA      | $626201.80    | 0.01%             | 2028-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Upstart Securitization Trust                                                | Upstart Securitization Trust, Series 2022-4, Class A                                                   | CUSIP: 91678YAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    511498 | PA      | $503839.53    | 0.00%             | 2032-08-20      | Fixed         | 5.98%                 | Yes           |                  2 | On Loan: No      |
| LyondellBasell Industries NV                                                | LyondellBasell Industries NV, Class A                                                                  | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | NL        |     77199 | NS      | $7464371.31   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Enagas SA                                                                   | Enagas SA                                                                                              | CUSIP: N/A<br>LEI: 213800OU3FQKGM4M2U23       | Long             | EC               | CORP              | ES        |    135276 | NS      | $2425673.80   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                        | Glencore Funding LLC                                                                                   | CUSIP: 378272AY4<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    180000 | PA      | $152528.87    | 0.00%             | 2030-09-01      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: —       |
| CFCRE Commercial Mortgage Trust                                             | CFCRE Commercial Mortgage Trust, Series 2016-C6, Class D                                               | CUSIP: 12532AAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $761399.00    | 0.01%             | 2049-11-10      | Variable      | 4.19%                 | Yes           |                  2 | On Loan: No      |
| Hera SpA                                                                    | Hera SpA                                                                                               | CUSIP: N/A<br>LEI: 8156009414FD99443B48       | Long             | EC               | CORP              | IT        |    877762 | NS      | $2521475.26   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co., Series BB                                                                           | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   8522000 | PA      | $7856218.75   | 0.08%             | 2026-03-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Precision Drilling Corp.                                                    | Precision Drilling Corp.                                                                               | CUSIP: 740212AL9<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |   3749000 | PA      | $3710313.13   | 0.04%             | 2026-01-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Bank of East Asia Ltd. (The)                                                | Bank of East Asia Ltd. (The)                                                                           | CUSIP: N/A<br>LEI: CO6GC26LCGGRTUESIP55       | Long             | DBT              | CORP              | HK        |   1750000 | PA      | $1662500.00   | 0.02%             | 2025-10-21      | Variable      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYE8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3585000 | PA      | $3478722.03   | 0.03%             | 2024-09-10      | Variable      | 0.66%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123DG2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   1618000 | PA      | $1587662.50   | 0.02%             | 2033-01-19      | Fixed         | 9.38%                 | No            |                  2 | On Loan: —       |
| Laureate Education, Inc.                                                    | Laureate Education, Inc., Class A                                                                      | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |    216091 | NS      | $2372679.18   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Angel Oak Mortgage Trust                                                    | Angel Oak Mortgage Trust, Series 2019-5, Class B1                                                      | CUSIP: 03464KAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2250000 | PA      | $1981272.38   | 0.02%             | 2049-10-25      | Variable      | 3.96%                 | Yes           |                  2 | On Loan: No      |
| Gohl Capital Ltd.                                                           | Gohl Capital Ltd.                                                                                      | CUSIP: N/A<br>LEI: 254900TF7OK6KSDZA888       | Long             | DBT              | CORP              | IM        |    300000 | PA      | $275625.00    | 0.00%             | 2027-01-24      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                                            | IndyMac INDX Mortgage Loan Trust, Series 2005-AR3, Class 3A1                                           | CUSIP: 45660LFK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    165270 | PA      | $155466.63    | 0.00%             | 2035-04-25      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   8398000 | PA      | $3682729.00   | 0.04%             | 2030-01-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| FGI Operating Co. LLC                                                       | FGI Operating Co. LLC, 1st Lien Term Loan                                                              | CUSIP: 30252KAF4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    146469 | PA      | $15965.08     | 0.00%             | 2023-05-16      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Rolls-Royce plc                                                             | Rolls-Royce plc                                                                                        | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |   1232000 | PA      | $1198120.00   | 0.01%             | 2027-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Impac Secured Assets Trust                                                  | Impac Secured Assets Trust, Series 2007-3, Class A1B                                                   | CUSIP: 45257VAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1574363 | PA      | $1281360.55   | 0.01%             | 2037-09-25      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN24, Class C                                                                        | CUSIP: 06540VBG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6000000 | PA      | $4822342.20   | 0.05%             | 2062-11-15      | Variable      | 3.52%                 | No            |                  2 | On Loan: No      |
| New Albertsons LP                                                           | New Albertsons LP                                                                                      | CUSIP: 013104AF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    392000 | PA      | $399840.00    | 0.00%             | 2029-08-01      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                                | Performance Food Group, Inc.                                                                           | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1847990.73   | 0.02%             | 2027-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| WP Carey, Inc.                                                              | WP Carey, Inc.                                                                                         | CUSIP: 92936UAJ8<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |     30000 | PA      | $24485.75     | 0.00%             | 2032-02-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                                     | FHLMC STACR REMIC Trust, Series 2021-DNA6, Class B1                                                    | CUSIP: 35564KLU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2387500.00   | 0.02%             | 2041-10-25      | Floating      | 7.71%                 | Yes           |                  2 | On Loan: No      |
| CommScope, Inc.                                                             | CommScope, Inc.                                                                                        | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |  13275000 | PA      | $11291051.25  | 0.11%             | 2027-03-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4830000 | PA      | $3765226.50   | 0.04%             | 2034-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Telia Co. AB                                                                | Telia Co. AB                                                                                           | CUSIP: N/A<br>LEI: 213800FSR9RNDUOTXO25       | Long             | EC               | CORP              | SE        |    836296 | NS      | $2159853.84   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CNOOC Petroleum North America ULC                                           | CNOOC Petroleum North America ULC                                                                      | CUSIP: 65334HAG7<br>LEI: 549300I04PB7X2824122 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $271875.00    | 0.00%             | 2037-05-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCD2<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    350000 | PA      | $345730.00    | 0.00%             | 2023-09-21      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Vanke Real Estate Hong Kong Co. Ltd.                                        | Vanke Real Estate Hong Kong Co. Ltd.                                                                   | CUSIP: N/A<br>LEI: 25490078APAXS5NZGF08       | Long             | DBT              | CORP              | HK        |    400000 | PA      | $334825.00    | 0.00%             | 2029-11-12      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Federation des Caisses Desjardins du Quebec                                 | Federation des Caisses Desjardins du Quebec                                                            | CUSIP: 31429KAJ2<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |   1415000 | PA      | $1417706.19   | 0.01%             | 2026-01-23      | Variable      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class C                                         | CUSIP: 17323VBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1824484.60   | 0.02%             | 2048-04-10      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                             | Santander UK Group Holdings plc                                                                        | CUSIP: 80281LAS4<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   4100000 | PA      | $4243748.50   | 0.04%             | 2026-11-21      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                          | VICI Properties LP                                                                                     | CUSIP: 92564RAH8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    995000 | PA      | $948424.05    | 0.01%             | 2026-09-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2021-2, Class E                                   | CUSIP: 025291AE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1400000 | PA      | $1295722.26   | 0.01%             | 2027-07-13      | Fixed         | 2.54%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                                 | IQVIA, Inc.                                                                                            | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2590000 | PA      | $2513361.38   | 0.02%             | 2027-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Adjustable Rate Mortgage Trust                                              | Adjustable Rate Mortgage Trust, Series 2005-2, Class 3A1                                               | CUSIP: 007036GT7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    440737 | PA      | $414287.36    | 0.00%             | 2035-06-25      | Variable      | 4.28%                 | No            |                  2 | On Loan: No      |
| Nokia OYJ                                                                   | Nokia OYJ                                                                                              | CUSIP: 654902AE5<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    985000 | PA      | $945600.00    | 0.01%             | 2027-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk. PT                                       | Bank Rakyat Indonesia Persero Tbk. PT                                                                  | CUSIP: N/A<br>LEI: 254900HB6S4B12GBNP64       | Long             | EC               | CORP              | ID        |  53436343 | NS      | $16387213.20  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The)                                                                                      | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |   3103000 | PA      | $2761670.00   | 0.03%             | 2026-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-HE7, Class M3                                    | CUSIP: 61744CGF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11531 | PA      | $10954.09     | 0.00%             | 2034-08-25      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| ITC Holdings Corp.                                                          | ITC Holdings Corp.                                                                                     | CUSIP: 465685AQ8<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |    155000 | PA      | $136208.09    | 0.00%             | 2030-05-14      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| ABFC Trust                                                                  | ABFC Trust, Series 2004-OPT3, Class M1                                                                 | CUSIP: 04542BGV8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    276538 | PA      | $275756.59    | 0.00%             | 2033-09-25      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Photo Holdings Merger Sub, Inc.                                             | Photo Holdings Merger Sub, Inc.                                                                        | CUSIP: 719245AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10815000 | PA      | $5407500.00   | 0.05%             | 2026-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| EOG Resources, Inc.                                                         | EOG Resources, Inc.                                                                                    | CUSIP: 26875PAQ4<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    180000 | PA      | $178625.90    | 0.00%             | 2036-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Equitable Financial Life Global Funding                                     | Equitable Financial Life Global Funding                                                                | CUSIP: 29449WAP2<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1241163.85   | 0.01%             | 2025-12-02      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |   2040000 | PA      | $1836000.00   | 0.02%             | 2027-01-31      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2019-R07, Class 1B1                                        | CUSIP: 20753WAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8500000 | PA      | $8409730.00   | 0.08%             | 2039-10-25      | Floating      | 7.91%                 | Yes           |                  2 | On Loan: No      |
| TriMas Corp.                                                                | TriMas Corp.                                                                                           | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |   4555000 | PA      | $4055088.75   | 0.04%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J1, Class 3A1                                                      | CUSIP: 12667FU29<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11590 | PA      | $11506.08     | 0.00%             | 2032-08-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ameren Corp.                                                                | Ameren Corp.                                                                                           | CUSIP: 023608AJ1<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    140000 | PA      | $128295.07    | 0.00%             | 2031-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ARTERIA Networks Corp.                                                      | ARTERIA Networks Corp.                                                                                 | CUSIP: N/A<br>LEI: 353800EX93NBF7DHNR51       | Long             | EC               | CORP              | JP        |    180000 | NS      | $1739199.22   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Athabasca Oil Corp.                                                         | Athabasca Oil Corp.                                                                                    | CUSIP: 04682RAE7<br>LEI: 549300STK2KBVO6WED71 | Long             | DBT              | CORP              | CA        |    321000 | PA      | $337050.00    | 0.00%             | 2026-11-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Clorox Co. (The)                                                            | Clorox Co. (The)                                                                                       | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |     47868 | NS      | $6926020.92   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL BK CDA MONTREAL                                                    | National Bank of Canada                                                                                | CUSIP: 63307MT74<br>LEI: N/A                  | Long             | STIV             | CORP              | CA        |   1250000 | PA      | $1228943.58   | 0.01%             | 2023-06-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YEC5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    182000 | PA      | $162385.63    | 0.00%             | 2027-07-20      | Variable      | 1.51%                 | No            |                  2 | On Loan: No      |
| Hana Bank                                                                   | Hana Bank                                                                                              | CUSIP: 482466AG4<br>LEI: 6RPK2YDJN6L35AS0M510 | Long             | DBT              | CORP              | KR        |    500000 | PA      | $435000.00    | 0.00%             | 2026-10-19      | Variable      | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                                              | Univision Communications, Inc.                                                                         | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   3976000 | PA      | $3899076.92   | 0.04%             | 2030-06-30      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123CW8<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    350000 | PA      | $336000.00    | 0.00%             | 2024-11-14      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Simon Property Group LP                                                     | Simon Property Group LP                                                                                | CUSIP: 828807CR6<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    542000 | PA      | $535337.75    | 0.01%             | 2024-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                     | Bath & Body Works, Inc.                                                                                | CUSIP: 501797AR5<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    765000 | PA      | $776084.85    | 0.01%             | 2029-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| GNMA                                                                        | GNMA, Series 2014-25, Class HS                                                                         | CUSIP: 38379ACD0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2061155 | PA      | $227305.42    | 0.00%             | 2044-02-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                                          | Vodafone Group plc                                                                                     | CUSIP: 92857WBH2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    468000 | PA      | $462173.33    | 0.00%             | 2024-01-16      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Mattel, Inc.                                                                | Mattel, Inc.                                                                                           | CUSIP: 577081BD3<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    994000 | PA      | $991515.00    | 0.01%             | 2027-12-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                                                | Ardagh Packaging Finance plc                                                                           | CUSIP: 03969AAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1263812.50   | 0.01%             | 2026-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                                                | Mizuho Financial Group, Inc.                                                                           | CUSIP: 60687YBP3<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |   1210000 | PA      | $1063824.91   | 0.01%             | 2027-05-22      | Variable      | 1.23%                 | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd.                                                              | HDFC Bank Ltd.                                                                                         | CUSIP: 40415FAA9<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | DBT              | CORP              | IN        |    700000 | PA      | $610750.00    | 0.01%             | 2026-08-25      | Variable      | 3.70%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                                       | Sirius XM Radio, Inc.                                                                                  | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    655000 | PA      | $561747.65    | 0.01%             | 2030-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| AGL Energy Ltd.                                                             | AGL Energy Ltd.                                                                                        | CUSIP: N/A<br>LEI: 549300QAZ8A74DEDXO80       | Long             | EC               | CORP              | AU        |   1463533 | NS      | $7937144.95   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2018-C44, Class D                                        | CUSIP: 95001JAC1<br>LEI: 549300AGZIS1CJS4RM30 | Long             | ABS-MBS          | CORP              | US        |   1517000 | PA      | $1046350.29   | 0.01%             | 2051-05-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-168, Class SA                                                                        | CUSIP: 38381BGM0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2483582 | PA      | $288287.73    | 0.00%             | 2048-12-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                                          | Canadian Imperial Bank of Commerce                                                                     | CUSIP: 13607GRK2<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    584000 | PA      | $574783.10    | 0.01%             | 2023-06-23      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| SK Telecom Co. Ltd.                                                         | SK Telecom Co. Ltd.                                                                                    | CUSIP: N/A<br>LEI: 9884003WEA1PHW006037       | Long             | EC               | CORP              | KR        |    287931 | NS      | $10911173.70  | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Equitrans Midstream Corp.                                                   | Equitrans Midstream Corp.                                                                              | CUSIP: 294600101<br>LEI: 549300RH0NLJNZ5SXU64 | Long             | EC               | CORP              | US        |    285060 | NS      | $2066685.00   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Tobacco, Inc.                                                         | Japan Tobacco, Inc.                                                                                    | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |    174500 | NS      | $3558390.33   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Interpublic Group of Cos., Inc. (The)                                       | Interpublic Group of Cos., Inc. (The)                                                                  | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Long             | EC               | CORP              | US        |    219694 | NS      | $8010043.24   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp.                                                                | Avient Corp.                                                                                           | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |   1235000 | PA      | $1244199.02   | 0.01%             | 2030-08-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1612127.09   | 0.02%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J14, Class A3                                                      | CUSIP: 12668AQ24<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    222699 | PA      | $147413.58    | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                                        | NOVA Chemicals Corp.                                                                                   | CUSIP: 66977WAQ2<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |   5810000 | PA      | $5722850.00   | 0.06%             | 2024-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | DBT              | CORP              | GB        |    400000 | PA      | $462318.75    | 0.00%             | 2025-12-15      | Variable      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-HYB1, Class 2A2C                                          | CUSIP: 126694WL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1660086 | PA      | $1400918.28   | 0.01%             | 2036-03-20      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| CNX Midstream Partners LP                                                   | CNX Midstream Partners LP                                                                              | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    828000 | PA      | $700595.64    | 0.01%             | 2030-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Structured Agency Credit Risk Debt Notes                              | FHLMC Structured Agency Credit Risk Debt Notes, Series 2017-DNA3, Class B1                             | CUSIP: 3137G0RJ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3166094.10   | 0.03%             | 2030-03-25      | Floating      | 8.96%                 | No            |                  2 | On Loan: No      |
| Realogy Group LLC                                                           | Realogy Group LLC                                                                                      | CUSIP: 75606DAQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5533000 | PA      | $4149750.00   | 0.04%             | 2030-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| Wynn Macau Ltd.                                                             | Wynn Macau Ltd.                                                                                        | CUSIP: N/A<br>LEI: 254900NMDQ8ENTHU1I31       | Long             | DBT              | CORP              | KY        |   1900000 | PA      | $1776500.00   | 0.02%             | 2026-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Baytex Energy Corp.                                                         | Baytex Energy Corp.                                                                                    | CUSIP: 07317QAH8<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |   4909000 | PA      | $5079784.11   | 0.05%             | 2027-04-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: —       |
| Bombardier, Inc.                                                            | Bombardier, Inc.                                                                                       | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   4895000 | PA      | $4890828.33   | 0.05%             | 2027-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                      | Sequoia Mortgage Trust, Series 2007-3, Class 1A1                                                       | CUSIP: 81744MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    355320 | PA      | $303579.69    | 0.00%             | 2036-07-20      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, (linked to Nasdaq 100 Index)                                                   | CUSIP: 06748C339<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | SN               | CORP              | GB        |      8950 | PA      | $107934673.00 | 1.04%             | 2023-03-09      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                                       | Avantor Funding, Inc.                                                                                  | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   6591000 | PA      | $6212610.69   | 0.06%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Proofpoint, Inc.                                                            | Proofpoint, Inc., 1st Lien Term Loan B                                                                 | CUSIP: 74345HAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    425402 | PA      | $416693.53    | 0.00%             | 2028-08-31      | Variable      | 7.98%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    990000 | PA      | $967291.88    | 0.01%             | 2026-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse Group AG                                                      | Credit Suisse Group AG                                                                                 | CUSIP: 225433AT8<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   2945000 | PA      | $2911868.72   | 0.03%             | 2023-06-09      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Continuum Energy Levanter Pte. Ltd.                                         | Continuum Energy Levanter Pte. Ltd.                                                                    | CUSIP: N/A<br>LEI: 254900MFSMO37F3WJ232       | Long             | DBT              | CORP              | SG        |   1644750 | PA      | $1472051.25   | 0.01%             | 2027-02-09      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61772BAC7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     25000 | PA      | $19969.03     | 0.00%             | 2042-04-22      | Variable      | 3.22%                 | No            |                  2 | On Loan: No      |
| iHeartMedia, Inc.                                                           | iHeartMedia, Inc., Class A                                                                             | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    122091 | NS      | $946205.25    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Severstal PAO                                                               | Severstal PAO                                                                                          | CUSIP: 818150302<br>LEI: 213800OKDPTV6K4ONO53 | Long             | EC               | CORP              | RU        |     10260 | NS      | $3496.77      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K067, Class X3                        | CUSIP: 3137FAWV6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  34106049 | PA      | $2670363.80   | 0.03%             | 2044-09-25      | Variable      | 2.11%                 | No            |                  2 | On Loan: No      |
| Toyota Industries Corp.                                                     | Toyota Industries Corp.                                                                                | CUSIP: 892330AB7<br>LEI: 35380000WKGEAHEMW830 | Long             | DBT              | CORP              | JP        |   1363000 | PA      | $1359467.92   | 0.01%             | 2023-03-16      | Fixed         | 3.23%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), Escrow                                                                              | CUSIP: 428ESCAB3<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |  11828000 | PA      | $236560.00    | 0.00%             | 2024-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United Natural Foods, Inc.                                                  | United Natural Foods, Inc., 1st Lien Term Loan B                                                       | CUSIP: 91116KAB1<br>LEI: 549300GKGW6WPZ282D40 | Long             | LON              | CORP              | US        |   1231188 | PA      | $1232960.45   | 0.01%             | 2025-10-22      | Variable      | 7.93%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280CW7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   5225000 | PA      | $5037734.28   | 0.05%             | 2024-11-22      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| FMG Resources August 2006 Pty. Ltd.                                         | FMG Resources August 2006 Pty. Ltd.                                                                    | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   1582000 | PA      | $1392160.00   | 0.01%             | 2031-04-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                                      | HUB International Ltd., 1st Lien Term Loan B                                                           | CUSIP: 44332EAP1<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    518305 | PA      | $517403.16    | 0.00%             | 2025-04-25      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2016-111, Class SA                                                                        | CUSIP: 38379YV47<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1787361 | PA      | $204199.41    | 0.00%             | 2046-08-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2022-2, Class A3                                          | CUSIP: 24380XAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4532231 | PA      | $4226356.61   | 0.04%             | 2067-03-25      | Variable      | 4.30%                 | Yes           |                  2 | On Loan: No      |
| DSLA Mortgage Loan Trust                                                    | DSLA Mortgage Loan Trust, Series 2005-AR4, Class 2A1A                                                  | CUSIP: 23332UEM2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1219089 | PA      | $1026741.10   | 0.01%             | 2045-08-19      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4614, Class SK                                                                    | CUSIP: 3137BRVV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10207985 | PA      | $1386287.21   | 0.01%             | 2046-09-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| INEOS US Petrochem LLC                                                      | INEOS US Petrochem LLC, 1st Lien Term Loan B                                                           | CUSIP: G4770MAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    344750 | PA      | $343629.56    | 0.00%             | 2026-01-29      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Superior Plus Corp.                                                         | Superior Plus Corp.                                                                                    | CUSIP: 86828P103<br>LEI: 52990059VEQM9RBM0045 | Long             | EC               | CORP              | CA        |    284580 | NS      | $2301364.70   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C20, Class C                           | CUSIP: 61764RBL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3127000 | PA      | $2912630.08   | 0.03%             | 2048-02-15      | Variable      | 4.45%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                                             | Air Lease Corp.                                                                                        | CUSIP: 00914AAL6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   2038000 | PA      | $1943870.77   | 0.02%             | 2024-02-15      | Fixed         | 0.70%                 | No            |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                                       | Coinbase Global, Inc.                                                                                  | CUSIP: 19260QAB3<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    860000 | PA      | $582650.00    | 0.01%             | 2026-06-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| SCE Trust VI                                                                | SCE Trust VI                                                                                           | CUSIP: 78410V200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    452859 | NS      | $9410410.02   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of El Salvador                                                     | Republic of El Salvador                                                                                | CUSIP: N/A<br>LEI: 529900AKDMUSFSDOM949       | Long             | DBT              | NUSS              | SV        |   1437000 | PA      | $662187.56    | 0.01%             | 2050-01-20      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Take-Two Interactive Software, Inc.                                         | Take-Two Interactive Software, Inc.                                                                    | CUSIP: 874054AH2<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28130.38     | 0.00%             | 2032-04-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Republic of Kenya                                                           | Republic of Kenya                                                                                      | CUSIP: N/A<br>LEI: 549300VVURQQYU45PR87       | Long             | DBT              | NUSS              | KE        |   1163000 | PA      | $1087405.00   | 0.01%             | 2024-06-24      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Saxon Asset Securities Trust                                                | Saxon Asset Securities Trust, Series 2004-2, Class MV2                                                 | CUSIP: 805564QL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    157543 | PA      | $155213.50    | 0.00%             | 2035-08-25      | Floating      | 3.67%                 | No            |                  2 | On Loan: No      |
| Southern Co. Gas Capital Corp.                                              | Southern Co. Gas Capital Corp., Series 20-A                                                            | CUSIP: 8426EPAD0<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |     60000 | PA      | $48248.47     | 0.00%             | 2031-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                                            | Marriott Ownership Resorts, Inc.                                                                       | CUSIP: 57164PAH9<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    656000 | PA      | $571054.03    | 0.01%             | 2029-06-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Oil and Gas Holding Co. BSCC (The)                                          | Oil and Gas Holding Co. BSCC (The)                                                                     | CUSIP: N/A<br>LEI: 549300OBH16L6TS6IW50       | Long             | DBT              | CORP              | BH        |    200000 | PA      | $204975.00    | 0.00%             | 2024-11-07      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Navigator Co. SA (The)                                                      | Navigator Co. SA (The)                                                                                 | CUSIP: N/A<br>LEI: 549300UNIB7M2AXUXS35       | Long             | EC               | CORP              | PT        |    539921 | NS      | $1890307.72   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                         | Fifth Third Bancorp                                                                                    | CUSIP: 316773CX6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    689000 | PA      | $680545.87    | 0.01%             | 2024-01-25      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Insignia Financial Ltd.                                                     | Insignia Financial Ltd.                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    830463 | NS      | $2061661.91   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| LogMeIn, Inc.                                                               | LogMeIn, Inc., 1st Lien Term Loan B                                                                    | CUSIP: 54142KAD3<br>LEI: 549300D12V5KRBV00592 | Long             | LON              | CORP              | US        |    312829 | PA      | $172055.92    | 0.00%             | 2027-08-31      | Variable      | 9.30%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series KK                                                                       | CUSIP: 06053U601<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     92275 | NS      | $2227518.50   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ABFC Trust                                                                  | ABFC Trust, Series 2004-HE1, Class M1                                                                  | CUSIP: 04542BJP8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    580759 | PA      | $567043.90    | 0.01%             | 2034-03-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| JSW Infrastructure Ltd.                                                     | JSW Infrastructure Ltd.                                                                                | CUSIP: 46654XAA7<br>LEI: 3358003E3YFK92C9WX80 | Long             | DBT              | CORP              | IN        |    800000 | PA      | $703900.00    | 0.01%             | 2029-01-21      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Huntington National Bank (The)                                              | Huntington National Bank (The)                                                                         | CUSIP: 44644MAH4<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1051795.52   | 0.01%             | 2025-11-18      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                                                            | SLG Office Trust, Series 2021-OVA, Class E                                                             | CUSIP: 78449RAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7000000 | PA      | $5078898.30   | 0.05%             | 2041-07-15      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| NCR Corp.                                                                   | NCR Corp.                                                                                              | CUSIP: 62886EAU2<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   6319000 | PA      | $6131707.37   | 0.06%             | 2027-09-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Energean Israel Finance Ltd.                                                | Energean Israel Finance Ltd.                                                                           | CUSIP: N/A<br>LEI: 98450044QACBL3F8EB03       | Long             | DBT              | CORP              | IL        |    210000 | PA      | $196717.50    | 0.00%             | 2026-03-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| MGM Resorts International                                                   | MGM Resorts International                                                                              | CUSIP: 552953CD1<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   2640000 | PA      | $2487057.67   | 0.02%             | 2026-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                                           | NatWest Group plc                                                                                      | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   2641000 | PA      | $2522155.00   | 0.02%             | 2025-12-29      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-K724, Class X2B                                                      | CUSIP: 30295XAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  51999954 | PA      | $26051.98     | 0.00%             | 2049-12-25      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust I LLC                                              | Angel Oak Mortgage Trust I LLC, Series 2019-2, Class B2                                                | CUSIP: 03463WAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2250000 | PA      | $2188889.78   | 0.02%             | 2049-03-25      | Variable      | 6.29%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2018-B1, Class D                                                      | CUSIP: 08162PAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    975000 | PA      | $653605.29    | 0.01%             | 2051-01-15      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Shui On Development Holding Ltd.                                            | Shui On Development Holding Ltd.                                                                       | CUSIP: N/A<br>LEI: 3003005J4J3G9CZFDK52       | Long             | DBT              | CORP              | KY        |   2150000 | PA      | $1948168.75   | 0.02%             | 2025-03-03      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties LP                                                          | VICI Properties LP                                                                                     | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8012000 | PA      | $7561333.49   | 0.07%             | 2026-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                                     | Chesapeake Energy Corp.                                                                                | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    575000 | PA      | $550631.50    | 0.01%             | 2029-02-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Tri Pointe Homes, Inc.                                                      | Tri Pointe Homes, Inc.                                                                                 | CUSIP: 87265HAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    128000 | PA      | $120087.04    | 0.00%             | 2028-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Abercrombie & Fitch Management Co.                                          | Abercrombie & Fitch Management Co.                                                                     | CUSIP: 003000AA4<br>LEI: 5493003QMCFDA98NPT74 | Long             | DBT              | CORP              | US        |   1014000 | PA      | $1024140.00   | 0.01%             | 2025-07-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: —       |
| Station Casinos LLC                                                         | Station Casinos LLC                                                                                    | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |   5089000 | PA      | $4581372.25   | 0.04%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Kilroy Realty Corp.                                                         | Kilroy Realty Corp.                                                                                    | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     56791 | NS      | $2330702.64   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Syneos Health, Inc.                                                         | Syneos Health, Inc.                                                                                    | CUSIP: 87166BAA0<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | DBT              | CORP              | US        |    911000 | PA      | $736771.25    | 0.01%             | 2029-01-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | EC               | CORP              | FR        |    112449 | NS      | $3347222.81   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Gas Corridor CJSC                                                  | Southern Gas Corridor CJSC                                                                             | CUSIP: N/A<br>LEI: 213800DG58KG59XY6318       | Long             | DBT              | NUSS              | AZ        |    950000 | PA      | $976006.25    | 0.01%             | 2026-03-24      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                 | Capital One Financial Corp., Series M                                                                  | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   7699000 | PA      | $6682259.74   | 0.06%             | 2026-09-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| PRET LLC                                                                    | PRET LLC, Series 2022-NPL4, Class A1                                                                   | CUSIP: 69381RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9361090 | PA      | $9254083.48   | 0.09%             | 2052-08-25      | Variable      | 6.56%                 | Yes           |                  2 | On Loan: No      |
| Big Yellow Group plc                                                        | Big Yellow Group plc                                                                                   | CUSIP: N/A<br>LEI: 213800W7Q4V2ZI8LIW31       | Long             | EC               | CORP              | GB        |    124813 | NS      | $1861611.75   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ROCC Holdings LLC                                                           | ROCC Holdings LLC                                                                                      | CUSIP: 70789PAA2<br>LEI: 6XOCUKRR0UU0LF5P1W14 | Long             | DBT              | CORP              | US        |    442000 | PA      | $448077.50    | 0.00%             | 2026-08-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Osaka Gas Co. Ltd.                                                          | Osaka Gas Co. Ltd.                                                                                     | CUSIP: N/A<br>LEI: 353800024KMNOPQRWZ02       | Long             | EC               | CORP              | JP        |     41900 | NS      | $676135.50    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Federation des Caisses Desjardins du Quebec                                 | Federation des Caisses Desjardins du Quebec                                                            | CUSIP: 31429KAH6<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |   4320000 | PA      | $4272394.81   | 0.04%             | 2027-08-23      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| Nabors Industries, Inc.                                                     | Nabors Industries, Inc.                                                                                | CUSIP: 62957HAF2<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   3645000 | PA      | $3534027.98   | 0.03%             | 2025-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                                       | Avantor Funding, Inc., 1st Lien Term Loan B                                                            | CUSIP: 05350NAL8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    530826 | PA      | $530231.53    | 0.01%             | 2027-11-08      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| Melexis NV                                                                  | Melexis NV                                                                                             | CUSIP: N/A<br>LEI: 549300QRPSGOJRPUFO80       | Long             | EC               | CORP              | BE        |     20552 | NS      | $2189288.78   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-LC23, Class E                                                   | CUSIP: 12636FAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1212939.75   | 0.01%             | 2048-10-10      | Variable      | 3.56%                 | Yes           |                  2 | On Loan: No      |
| ABB Ltd.                                                                    | ABB Ltd. (Registered)                                                                                  | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               | CORP              | CH        |    158149 | NS      | $5506062.25   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                      | Tenet Healthcare Corp.                                                                                 | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3354000 | PA      | $2986418.37   | 0.03%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Dana, Inc.                                                                  | Dana, Inc.                                                                                             | CUSIP: 235825AG1<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |   3421000 | PA      | $3222225.74   | 0.03%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| IG Group Holdings plc                                                       | IG Group Holdings plc                                                                                  | CUSIP: N/A<br>LEI: 2138003A5Q1M7ANOUD76       | Long             | EC               | CORP              | GB        |    285661 | NS      | $2808699.74   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Impac Secured Assets Trust                                                  | Impac Secured Assets Trust, Series 2007-3, Class A1C                                                   | CUSIP: 45257VAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2638123 | PA      | $2112519.84   | 0.02%             | 2037-09-25      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The)                                                                            | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   8860000 | PA      | $9402675.00   | 0.09%             | 2082-10-31      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2013-C17, Class D                                   | CUSIP: 46640UAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1167724.75   | 0.01%             | 2047-01-15      | Variable      | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Theorem Funding Trust                                                       | Theorem Funding Trust, Series 2022-3A, Class A                                                         | CUSIP: 882925AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    883581 | PA      | $883051.38    | 0.01%             | 2029-04-15      | Fixed         | 7.60%                 | Yes           |                  2 | On Loan: No      |
| API Group DE                                                                | API Group DE, 1st Lien Term Loan                                                                       | CUSIP: 00186XAB9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | LON              | CORP              | US        |    746112 | PA      | $746111.63    | 0.01%             | 2026-10-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Shaw Communications, Inc.                                                   | Shaw Communications, Inc., Class B                                                                     | CUSIP: 82028K200<br>LEI: 549300SCT0RG6178CI40 | Long             | EC               | CORP              | CA        |    252776 | NS      | $7523151.78   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2019-B14, Class E                                                     | CUSIP: 08162YAR3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1415000 | PA      | $829027.98    | 0.01%             | 2062-12-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Abbott Laboratories                                                         | Abbott Laboratories                                                                                    | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     22344 | NS      | $2470129.20   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN24, Class D                                                                        | CUSIP: 06540VAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $651486.20    | 0.01%             | 2062-11-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                                    | Cooperatieve Rabobank UA                                                                               | CUSIP: 74977RDL5<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   2400000 | PA      | $2132880.74   | 0.02%             | 2027-12-15      | Variable      | 1.98%                 | Yes           |                  2 | On Loan: No      |
| International Paper Co.                                                     | International Paper Co.                                                                                | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    150049 | NS      | $6275049.18   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications, Inc.                                                 | Rogers Communications, Inc.                                                                            | CUSIP: 775109BS9<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |   7435000 | PA      | $6691344.98   | 0.06%             | 2082-03-15      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280CS6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2280000 | PA      | $2141444.95   | 0.02%             | 2025-05-24      | Variable      | 0.98%                 | No            |                  2 | On Loan: No      |
| KKR Group Co., Inc.                                                         | KKR Group Co., Inc., Series C                                                                          | CUSIP: 48251W401<br>LEI: 549300JOHU21WRN2Z451 | Long             | EP               | CORP              | US        |      8609 | NS      | $581624.04    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-4CB, Class 2A5                                                     | CUSIP: 12668BPZ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    489249 | PA      | $385483.93    | 0.00%             | 2036-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Medtronic plc                                                               | Medtronic plc                                                                                          | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |     38066 | NS      | $3185743.54   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                                               | Koninklijke Ahold Delhaize NV                                                                          | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |    106694 | NS      | $3184492.60   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HPCL-Mittal Energy Ltd.                                                     | HPCL-Mittal Energy Ltd.                                                                                | CUSIP: N/A<br>LEI: 3358008CSQJBZUGQXP26       | Long             | DBT              | CORP              | IN        |   2100000 | PA      | $1953000.00   | 0.02%             | 2027-04-28      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    160000 | PA      | $164430.00    | 0.00%             | 2026-01-29      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Entegris, Inc.                                                              | Entegris, Inc.                                                                                         | CUSIP: 29362UAD6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   2929000 | PA      | $2497906.70   | 0.02%             | 2029-05-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: —       |
| Air Products and Chemicals, Inc.                                            | Air Products and Chemicals, Inc.                                                                       | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     14340 | NS      | $4596113.40   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254BJ8<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   1455000 | PA      | $1451427.22   | 0.01%             | 2024-03-15      | Variable      | 3.89%                 | Yes           |                  2 | On Loan: No      |
| INEOS Quattro Finance 2 plc                                                 | INEOS Quattro Finance 2 plc                                                                            | CUSIP: 45674GAA2<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |   1410000 | PA      | $1294154.40   | 0.01%             | 2026-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: —       |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 013092AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4355000 | PA      | $4028200.80   | 0.04%             | 2026-03-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Telekom International Finance BV                                   | Deutsche Telekom International Finance BV                                                              | CUSIP: 25156PAC7<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |    286000 | PA      | $349399.23    | 0.00%             | 2030-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                                                         | Altice Financing SA                                                                                    | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   4356000 | PA      | $3658628.53   | 0.04%             | 2029-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2006-4, Class 4CB1                                      | CUSIP: 05950AAU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    977180 | PA      | $867356.85    | 0.01%             | 2046-05-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-1, Class ST                                                                          | CUSIP: 38380UM42<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5764563 | PA      | $703932.16    | 0.01%             | 2048-01-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GJH3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5460000 | PA      | $5281639.87   | 0.05%             | 2024-10-24      | Variable      | 0.81%                 | No            |                  2 | On Loan: No      |
| Hansoh Pharmaceutical Group Co. Ltd.                                        | Hansoh Pharmaceutical Group Co. Ltd.                                                                   | CUSIP: N/A<br>LEI: 254900Q6MR00EBXTPF42       | Long             | DBT              | CORP              | KY        |    600000 | PA      | $564300.00    | 0.01%             | 2026-01-22      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                                  | Progress Residential Trust, Series 2021-SFR8, Class G                                                  | CUSIP: 74333TAQ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6080000 | PA      | $5216897.79   | 0.05%             | 2038-10-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2579000 | PA      | $2263717.25   | 0.02%             | 2029-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Home Equity Asset-Backed Securities Trust                       | Wells Fargo Home Equity Asset-Backed Securities Trust, Series 2004-2, Class M1                         | CUSIP: 94980GAN1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    341567 | PA      | $338724.08    | 0.00%             | 2034-10-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2018-BN15, Class E                                                                        | CUSIP: 06036FAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $635139.80    | 0.01%             | 2061-11-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: 22534PAC7<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   1615000 | PA      | $1648820.85   | 0.02%             | 2028-07-12      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                                           | American Electric Power Co., Inc.                                                                      | CUSIP: 025537AV3<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31311.04     | 0.00%             | 2027-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VMware, Inc.                                                                | VMware, Inc., Class A                                                                                  | CUSIP: 928563402<br>LEI: 549300BUDHS3LRWBE814 | Long             | EC               | CORP              | US        |     56786 | NS      | $6954581.42   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Teladoc Health, Inc.                                                        | Teladoc Health, Inc.                                                                                   | CUSIP: 87918AAF2<br>LEI: 549300I2PVFBC9MFAC61 | Long             | DBT              | CORP              | US        |    774000 | PA      | $620670.60    | 0.01%             | 2027-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| FAGE International SA                                                       | FAGE International SA                                                                                  | CUSIP: 30257WAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    324000 | PA      | $304203.60    | 0.00%             | 2026-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YEM3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   6615000 | PA      | $6285934.38   | 0.06%             | 2026-02-18      | Variable      | 2.63%                 | No            |                  2 | On Loan: No      |
| FMG Resources August 2006 Pty. Ltd.                                         | FMG Resources August 2006 Pty. Ltd.                                                                    | CUSIP: 30251GBA4<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    218000 | PA      | $208084.27    | 0.00%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| SVB Financial Group                                                         | SVB Financial Group, Series C                                                                          | CUSIP: 78486QAJ0<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |  10358000 | PA      | $8292806.84   | 0.08%             | 2026-05-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                                          | State Street Corp.                                                                                     | CUSIP: 857477BZ5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    700000 | PA      | $702561.38    | 0.01%             | 2026-01-26      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    778000 | PA      | $697097.94    | 0.01%             | 2027-07-22      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| Groupe Bruxelles Lambert NV                                                 | Groupe Bruxelles Lambert NV                                                                            | CUSIP: N/A<br>LEI: 549300KV0ZEHT2KVU152       | Long             | DBT              | CORP              | BE        |    400000 | PA      | $441208.96    | 0.00%             | 2025-11-29      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                 | Allied Universal Holdco LLC                                                                            | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1596000 | PA      | $1370692.68   | 0.01%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2021-3, Class B1                                                      | CUSIP: 19688FAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $1439169.25   | 0.01%             | 2066-09-27      | Variable      | 3.06%                 | Yes           |                  2 | On Loan: No      |
| Goodman Networks, Inc.                                                      | Goodman Networks, Inc.                                                                                 | CUSIP: 38239H105<br>LEI: 549300UMUT10TOBP5N08 | Long             | EC               | CORP              | US        |     53482 | NS      | $0.05         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| PRPM LLC                                                                    | PRPM LLC, Series 2021-1, Class A2                                                                      | CUSIP: 693577AB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4770259.50   | 0.05%             | 2026-01-25      | Variable      | 3.72%                 | Yes           |                  2 | On Loan: No      |
| Archrock Partners LP                                                        | Archrock Partners LP                                                                                   | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1327000 | PA      | $1300460.00   | 0.01%             | 2027-04-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The), Series T                                                     | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   7215000 | PA      | $6150787.50   | 0.06%             | 2026-09-15      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Suzano Austria GmbH                                                         | Suzano Austria GmbH                                                                                    | CUSIP: N/A<br>LEI: 254900287ZNSGVP1R341       | Long             | DBT              | CORP              | AT        |    220000 | PA      | $228937.50    | 0.00%             | 2047-03-16      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc.                                                                               | CUSIP: 156700BB1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |  15795000 | PA      | $13504725.00  | 0.13%             | 2026-12-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: —       |
| Structured Asset Mortgage Investments II Trust                              | Structured Asset Mortgage Investments II Trust, Series 2007-AR7, Class 1A1                             | CUSIP: 86364KAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2765328 | PA      | $2206169.90   | 0.02%             | 2047-05-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| 7-Eleven, Inc.                                                              | 7-Eleven, Inc.                                                                                         | CUSIP: 817826AA8<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |   1076000 | PA      | $1074870.20   | 0.01%             | 2023-02-10      | Fixed         | 0.62%                 | Yes           |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                          | Renaissance Home Equity Loan Trust, Series 2003-1, Class M1                                            | CUSIP: 759950AS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    154800 | PA      | $145747.34    | 0.00%             | 2033-06-25      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| Bell Telephone Co. of Canada or Bell Canada (The)                           | Bell Telephone Co. of Canada or Bell Canada (The), Series US-5                                         | CUSIP: 0778FPAG4<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | DBT              | CORP              | CA        |    159000 | PA      | $129932.40    | 0.00%             | 2032-02-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| MSCI, Inc.                                                                  | MSCI, Inc.                                                                                             | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   1206000 | PA      | $1097460.00   | 0.01%             | 2029-11-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Moran Foods LLC                                                             | Moran Foods LLC, 1st Lien Term Loan                                                                    | CUSIP: 61647DAP7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    975835 | PA      | $786523.33    | 0.01%             | 2026-06-30      | Variable      | 11.93%                | No            |                  3 | On Loan: No      |
| Directv Financing LLC                                                       | Directv Financing LLC                                                                                  | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4468000 | PA      | $4047136.74   | 0.04%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Adaro Indonesia PT                                                          | Adaro Indonesia PT                                                                                     | CUSIP: N/A<br>LEI: 2549009Z0YED3S2BID40       | Long             | DBT              | CORP              | ID        |   3000000 | PA      | $2876812.50   | 0.03%             | 2024-10-31      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                                      | Lendmark Funding Trust, Series 2021-2A, Class B                                                        | CUSIP: 52604DAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $420943.90    | 0.00%             | 2032-04-20      | Fixed         | 2.37%                 | Yes           |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AC3<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |    950000 | PA      | $947625.00    | 0.01%             | 2023-09-18      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| KeyBank NA                                                                  | KeyBank NA                                                                                             | CUSIP: 49327M3C6<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   5095000 | PA      | $4992115.65   | 0.05%             | 2024-06-14      | Variable      | 0.43%                 | No            |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                                     | FHLMC STACR REMIC Trust, Series 2020-HQA1, Class B2                                                    | CUSIP: 35565JBE0<br>LEI: 549300TCRXCIFPAC3B85 | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3304837.60   | 0.03%             | 2050-01-25      | Floating      | 9.61%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Capital II                                                    | Goldman Sachs Capital II                                                                               | CUSIP: 381427AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2351000 | PA      | $1877861.25   | 0.02%             | 2023-03-09      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Transocean Proteus Ltd.                                                     | Transocean Proteus Ltd.                                                                                | CUSIP: 893829AA9<br>LEI: 5493000CTMQ2LH21VM89 | Long             | DBT              | CORP              | KY        |    246400 | PA      | $248871.44    | 0.00%             | 2024-12-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: —       |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-AR5, Class 6A1                             | CUSIP: 22541SJE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    222721 | PA      | $214682.06    | 0.00%             | 2034-06-25      | Variable      | 3.47%                 | No            |                  2 | On Loan: No      |
| PRA Group, Inc.                                                             | PRA Group, Inc.                                                                                        | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    450000 | PA      | $386252.18    | 0.00%             | 2029-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The)                                                                              | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   2300000 | PA      | $2448948.07   | 0.02%             | 2082-10-27      | Variable      | 8.62%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                                               | NYC Commercial Mortgage Trust, Series 2021-909, Class E                                                | CUSIP: 67076XAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $2910257.00   | 0.03%             | 2043-04-10      | Variable      | 3.21%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust I LLC                                              | Angel Oak Mortgage Trust I LLC, Series 2019-4, Class B1                                                | CUSIP: 03463UAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4511691.50   | 0.04%             | 2049-07-26      | Variable      | 4.41%                 | Yes           |                  2 | On Loan: No      |
| KazMunayGas National Co. JSC                                                | KazMunayGas National Co. JSC                                                                           | CUSIP: N/A<br>LEI: 2138001H1M69RFJCSH88       | Long             | DBT              | CORP              | KZ        |   1380000 | PA      | $1102127.89   | 0.01%             | 2047-04-19      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Brookfield WEC Holdings, Inc.                                               | Brookfield WEC Holdings, Inc., 1st Lien Term Loan                                                      | CUSIP: 11284EAM5<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |    881264 | PA      | $879615.78    | 0.01%             | 2025-08-01      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Pike Corp.                                                                  | Pike Corp., 1st Lien Term Loan B                                                                       | CUSIP: 72108PAT1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    274312 | PA      | $274142.43    | 0.00%             | 2028-01-21      | Variable      | 8.06%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                     | Hyundai Capital America                                                                                | CUSIP: 44891ACA3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     83000 | PA      | $70335.32     | 0.00%             | 2028-09-15      | Fixed         | 2.10%                 | Yes           |                  2 | On Loan: No      |
| Rent-A-Center, Inc.                                                         | Rent-A-Center, Inc.                                                                                    | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |    522000 | PA      | $443700.00    | 0.00%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: —       |
| Goodyear Tire & Rubber Co. (The)                                            | Goodyear Tire & Rubber Co. (The)                                                                       | CUSIP: 382550BR1<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    999000 | PA      | $843935.22    | 0.01%             | 2031-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kimberly-Clark de Mexico SAB de CV                                          | Kimberly-Clark de Mexico SAB de CV, Class A                                                            | CUSIP: N/A<br>LEI: 549300JGHL56QT00KT54       | Long             | EC               | CORP              | MX        |   1863482 | NS      | $3547745.93   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2017-CD5, Class D                                                            | CUSIP: 12515HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1831000 | PA      | $1318200.80   | 0.01%             | 2050-08-15      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Swisscom AG                                                                 | Swisscom AG (Registered)                                                                               | CUSIP: N/A<br>LEI: 5493005SL9HHOXS3B739       | Long             | EC               | CORP              | CH        |      4869 | NS      | $2876877.71   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2011-126, Class SM                                                                 | CUSIP: 3136A2WU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1884441 | PA      | $171337.29    | 0.00%             | 2041-12-25      | Floating      | 1.44%                 | No            |                  2 | On Loan: No      |
| ASML Holding NV                                                             | ASML Holding NV                                                                                        | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |     24403 | NS      | $16146184.42  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Markets plc                                                         | NatWest Markets plc                                                                                    | CUSIP: 63906YAD0<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |   2312000 | PA      | $2045656.05   | 0.02%             | 2026-09-29      | Fixed         | 1.60%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse Group AG                                                      | Credit Suisse Group AG                                                                                 | CUSIP: 225401BB3<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    980000 | PA      | $1100707.55   | 0.01%             | 2033-11-15      | Variable      | 9.02%                 | Yes           |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: 695847AT0<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |    554000 | PA      | $227200.94    | 0.00%             | 2031-04-08      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2006-S3, Class 2A4                                                     | CUSIP: 46629ABU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7533 | PA      | $6731.67      | 0.00%             | 2021-08-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VF Corp.                                                                    | VF Corp.                                                                                               | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |     59795 | NS      | $1850057.30   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ACEA SpA                                                                    | ACEA SpA                                                                                               | CUSIP: N/A<br>LEI: 549300Q3448N041CTH56       | Long             | EC               | CORP              | IT        |     74040 | NS      | $1134994.65   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MIWD Holdco II LLC                                                          | MIWD Holdco II LLC                                                                                     | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1208000 | PA      | $1004415.76   | 0.01%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Structured Agency Credit Risk Debt Notes                              | FHLMC Structured Agency Credit Risk Debt Notes, Series 2021-DNA2, Class B2                             | CUSIP: 35564KDY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | CORP              | US        |  18050000 | PA      | $16577015.31  | 0.16%             | 2033-08-25      | Floating      | 10.31%                | Yes           |                  2 | On Loan: No      |
| Service Properties Trust                                                    | Service Properties Trust                                                                               | CUSIP: 44106MBB7<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    481000 | PA      | $360750.00    | 0.00%             | 2029-10-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Burberry Group plc                                                          | Burberry Group plc                                                                                     | CUSIP: N/A<br>LEI: 213800PE1KEFCNFR1R50       | Long             | EC               | CORP              | GB        |    115264 | NS      | $3511048.60   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Investec plc                                                                | Investec plc                                                                                           | CUSIP: N/A<br>LEI: 2138007Z3U5GWDN3MY22       | Long             | EC               | CORP              | GB        |    427833 | NS      | $2730101.48   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International, Inc.                                           | Philip Morris International, Inc.                                                                      | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    121947 | NS      | $12711755.28  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-19CB, Class A15                                                    | CUSIP: 02147QAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    423957 | PA      | $262169.80    | 0.00%             | 2036-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2004-5, Class 1A1                                                              | CUSIP: 45254NJG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    234975 | PA      | $225351.90    | 0.00%             | 2034-10-25      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| N/A                                                                         | Windstream Holdings, Inc.                                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DO               |  | US        |      4050 | NS      | $30375.00     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                       | Alexandria Real Estate Equities, Inc.                                                                  | CUSIP: 015271AY5<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25322.40     | 0.00%             | 2034-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Adient US LLC                                                               | Adient US LLC, Term Loan B                                                                             | CUSIP: 00687MAC5<br>LEI: 213800SOTRCDGZUHL712 | Long             | LON              | CORP              | US        |   5404472 | PA      | $5384205.67   | 0.05%             | 2028-04-10      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Sage Group plc (The)                                                        | Sage Group plc (The)                                                                                   | CUSIP: N/A<br>LEI: 2138005RN5XYLTF8G138       | Long             | EC               | CORP              | GB        |    635897 | NS      | $6109490.79   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Multi-Family Structured Credit Risk                                   | FHLMC, Multi-Family Structured Credit Risk, Series 2022-MN4, Class B1                                  | CUSIP: 35563HAC1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   4000000 | PA      | $4062602.00   | 0.04%             | 2052-05-25      | Floating      | 13.81%                | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR27, Class D                                                   | CUSIP: 12635QAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $410702.40    | 0.00%             | 2048-10-10      | Variable      | 3.45%                 | Yes           |                  2 | On Loan: No      |
| Utz Quality Foods LLC                                                       | Utz Quality Foods LLC, 1st Lien Term Loan B                                                            | CUSIP: 91809EAE1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    401801 | PA      | $400868.80    | 0.00%             | 2028-01-20      | Variable      | 7.67%                 | No            |                  2 | On Loan: No      |
| AppleCaramel Buyer LLC                                                      | AppleCaramel Buyer LLC, 1st Lien Term Loan B                                                           | CUSIP: 96350TAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7991117 | PA      | $7912643.84   | 0.08%             | 2027-10-19      | Variable      | 8.31%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2018-27, Class SE                                                                  | CUSIP: 3136B1M92<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2192658 | PA      | $280297.35    | 0.00%             | 2048-05-25      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| BCE, Inc.                                                                   | BCE, Inc.                                                                                              | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | CA        |    194172 | NS      | $9179225.73   | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Hawaiian Electric Industries, Inc.                                          | Hawaiian Electric Industries, Inc.                                                                     | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |     70136 | NS      | $2964648.72   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM, Inc.                                                              | QUALCOMM, Inc.                                                                                         | CUSIP: 747525BS1<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |     65000 | PA      | $69852.22     | 0.00%             | 2033-05-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| TEGNA, Inc.                                                                 | TEGNA, Inc.                                                                                            | CUSIP: 87901JAF2<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    541000 | PA      | $524523.00    | 0.01%             | 2026-03-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2017-16, Class SM                                                                  | CUSIP: 3136AVB73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1643880 | PA      | $208557.90    | 0.00%             | 2047-03-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                                     | American Airlines, Inc.                                                                                | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6592417 | PA      | $6462710.54   | 0.06%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J6, Class 2A1                                                      | CUSIP: 12667GVN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40551 | PA      | $35394.22     | 0.00%             | 2025-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GSMSC Pass-Through Trust                                                    | GSMSC Pass-Through Trust, Series 2008-2R, Class 2A1                                                    | CUSIP: 3622X1AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1202956 | PA      | $252358.40    | 0.00%             | 2036-10-25      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| AmeriGas Partners LP                                                        | AmeriGas Partners LP                                                                                   | CUSIP: 030981AK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5663000 | PA      | $5493110.00   | 0.05%             | 2025-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp.                                                         | Realty Income Corp.                                                                                    | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |    101251 | NS      | $6867855.33   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Ireland Capital DAC                                                  | AerCap Ireland Capital DAC                                                                             | CUSIP: 00774MAT2<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3290000 | PA      | $3192944.61   | 0.03%             | 2023-10-29      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| FHLMC Multi-Family Structured Credit Risk                                   | FHLMC, Multi-Family Structured Credit Risk, Series MN1, Class M2                                       | CUSIP: 35563FAB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  13250012 | PA      | $11800962.86  | 0.11%             | 2051-01-25      | Floating      | 8.06%                 | Yes           |                  2 | On Loan: No      |
| DBS Group Holdings Ltd.                                                     | DBS Group Holdings Ltd.                                                                                | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |    448800 | NS      | $12286470.74  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Lear Corp.                                                                  | Lear Corp.                                                                                             | CUSIP: 521865BC8<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | DBT              | CORP              | US        |     25000 | PA      | $19637.40     | 0.00%             | 2032-01-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2007-5, Class 4A1                                                | CUSIP: 059523AL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2154805 | PA      | $1423125.65   | 0.01%             | 2037-07-25      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                                               | Al Rajhi Bank                                                                                          | CUSIP: N/A<br>LEI: 558600BQZS4Y1DTU8589       | Long             | EC               | CORP              | SA        |    253400 | NS      | $5562450.43   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Hang Seng Bank Ltd.                                                         | Hang Seng Bank Ltd.                                                                                    | CUSIP: N/A<br>LEI: 5493009Z5F07LWZYMK62       | Long             | EC               | CORP              | HK        |    376500 | NS      | $6269937.30   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| GEO Group, Inc. (The)                                                       | GEO Group, Inc. (The)                                                                                  | CUSIP: 36162JAC0<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |   2281000 | PA      | $2333262.45   | 0.02%             | 2028-06-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Orient Overseas International Ltd.                                          | Orient Overseas International Ltd.                                                                     | CUSIP: N/A<br>LEI: 529900DQ426GJO276W95       | Long             | EC               | CORP              | BM        |    101000 | NS      | $1678907.86   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Redes Energeticas Nacionais SGPS SA                                         | Redes Energeticas Nacionais SGPS SA                                                                    | CUSIP: N/A<br>LEI: 549300FR1FN48IGHR915       | Long             | EC               | CORP              | PT        |    405291 | NS      | $1113930.59   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Delek Logistics Partners LP                                                 | Delek Logistics Partners LP                                                                            | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    647000 | PA      | $593454.64    | 0.01%             | 2028-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Kontoor Brands, Inc.                                                        | Kontoor Brands, Inc.                                                                                   | CUSIP: 50050NAA1<br>LEI: 549300M0CPXV65RFF271 | Long             | DBT              | CORP              | US        |    410000 | PA      | $354637.70    | 0.00%             | 2029-11-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Canon, Inc.                                                                 | Canon, Inc.                                                                                            | CUSIP: N/A<br>LEI: 529900JH1GSC035SSP77       | Long             | EC               | CORP              | JP        |    108000 | NS      | $2396773.97   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Joyoung Co. Ltd.                                                            | Joyoung Co. Ltd., Class A                                                                              | CUSIP: N/A<br>LEI: 3003009IDE4C1JWM1R13       | Long             | EC               | CORP              | CN        |    999670 | NS      | $2759177.11   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Shandong Iron And Steel Xinheng International Co. Ltd.                      | Shandong Iron And Steel Xinheng International Co. Ltd.                                                 | CUSIP: N/A<br>LEI: 3003000ZSLLDIQHLEZ07       | Long             | DBT              | CORP              | VG        |   1300000 | PA      | $1289843.75   | 0.01%             | 2023-11-05      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967NX5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4100000 | PA      | $4165825.42   | 0.04%             | 2026-09-29      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                                                      | Keurig Dr Pepper, Inc.                                                                                 | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    253098 | NS      | $8929297.44   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies, Inc.                                                     | Uber Technologies, Inc.                                                                                | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   3645000 | PA      | $3245189.06   | 0.03%             | 2029-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CRH plc                                                                     | CRH plc                                                                                                | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |     82351 | NS      | $3847647.70   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Radiology Partners, Inc.                                                    | Radiology Partners, Inc., 1st Lien Term Loan B                                                         | CUSIP: 75041EAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    550000 | PA      | $474947.00    | 0.00%             | 2025-07-09      | Variable      | 8.80%                 | No            |                  2 | On Loan: No      |
| Gray Escrow II, Inc.                                                        | Gray Escrow II, Inc.                                                                                   | CUSIP: 389286AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2256000 | PA      | $1734920.40   | 0.02%             | 2031-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Boyd Gaming Corp.                                                           | Boyd Gaming Corp.                                                                                      | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    983000 | PA      | $884513.23    | 0.01%             | 2031-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Jackson Park Trust                                                          | Jackson Park Trust, Series 2019-LIC, Class E                                                           | CUSIP: 46868RAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3625000 | PA      | $2645451.78   | 0.03%             | 2039-10-14      | Variable      | 3.24%                 | Yes           |                  2 | On Loan: No      |
| Formula One Holdings Ltd.                                                   | Formula One Holdings Ltd., 1st Lien Term Loan B                                                        | CUSIP: L2465BAS5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    825000 | PA      | $826889.25    | 0.01%             | 2030-01-15      | Variable      | 7.81%                 | No            |                  2 | On Loan: No      |
| NetEase, Inc.                                                               | NetEase, Inc.                                                                                          | CUSIP: N/A<br>LEI: 5299004AF4DSJDB0PA32       | Long             | EC               | CORP              | KY        |    954900 | NS      | $16941948.72  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 85325WAA6<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   1535000 | PA      | $1452335.66   | 0.01%             | 2026-01-30      | Variable      | 2.82%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                                         | Intesa Sanpaolo SpA                                                                                    | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |   3193628 | NS      | $8396909.51   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Invitation Homes, Inc.                                                      | Invitation Homes, Inc.                                                                                 | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1767 | NS      | $57427.50     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp. (The)                                                  | Charles Schwab Corp. (The), Series H                                                                   | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  11623000 | PA      | $9998685.75   | 0.10%             | 2030-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NMG Holding Co., Inc.                                                       | NMG Holding Co., Inc.                                                                                  | CUSIP: 62929RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7950000 | PA      | $7591170.31   | 0.07%             | 2026-04-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                                     | GFL Environmental, Inc.                                                                                | CUSIP: 36168QAL8<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   3987000 | PA      | $3539459.25   | 0.03%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: —       |
| BANK                                                                        | BANK, Series 2019-BN23, Class D                                                                        | CUSIP: 06541RAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $2580064.40   | 0.02%             | 2052-12-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Comcast Corp.                                                               | Comcast Corp., Class A                                                                                 | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    515649 | NS      | $20290788.15  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123CB4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    610000 | PA      | $385062.50    | 0.00%             | 2043-04-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                                  | Macy's Retail Holdings LLC                                                                             | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $91277.00     | 0.00%             | 2030-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Avista Corp.                                                                | Avista Corp.                                                                                           | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     68159 | NS      | $2719544.10   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CSMC Mortgage-Backed Trust                                                  | CSMC Mortgage-Backed Trust, Series 2007-2, Class 3A13                                                  | CUSIP: 126384CG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    348658 | PA      | $196827.76    | 0.00%             | 2037-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co. Ltd.                                             | ASE Technology Holding Co. Ltd.                                                                        | CUSIP: N/A<br>LEI: 300300GO8QHPMV87NZ73       | Long             | EC               | CORP              | TW        |   1885000 | NS      | $6360072.24   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                         | Post Holdings, Inc.                                                                                    | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   2975000 | PA      | $2618000.00   | 0.03%             | 2030-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-6F, Class 3A18                                                    | CUSIP: 362341EM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    633564 | PA      | $587974.54    | 0.01%             | 2035-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                                            | Clarivate Science Holdings Corp.                                                                       | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2838000 | PA      | $2497227.15   | 0.02%             | 2029-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                                           | Xcel Energy, Inc.                                                                                      | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    195948 | NS      | $13475343.96  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2021-3, Class B2                                          | CUSIP: 24381VAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4502000 | PA      | $2974305.73   | 0.03%             | 2066-08-25      | Variable      | 4.13%                 | Yes           |                  2 | On Loan: No      |
| Midea Group Co. Ltd.                                                        | Midea Group Co. Ltd., Class A                                                                          | CUSIP: N/A<br>LEI: 3003003TRPHLHZD2IF61       | Long             | EC               | CORP              | CN        |   1104999 | NS      | $9070831.69   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Woodside Energy Group Ltd.                                                  | Woodside Energy Group Ltd.                                                                             | CUSIP: N/A<br>LEI: 2549005ZC5RXAOO7FH41       | Long             | EC               | CORP              | AU        |    234091 | NS      | $6061525.91   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Suisse AG                                                            | Credit Suisse AG                                                                                       | CUSIP: 22550L2J9<br>LEI: 549300D0YARF5HYP1809 | Long             | DBT              | CORP              | CH        |   3250000 | PA      | $3185191.13   | 0.03%             | 2024-08-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: 65412JAB9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   1290000 | PA      | $843337.50    | 0.01%             | 2047-11-28      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Papa John's International, Inc.                                             | Papa John's International, Inc.                                                                        | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |    407000 | PA      | $350099.52    | 0.00%             | 2029-09-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Huntington Bancshares, Inc.                                                 | Huntington Bancshares, Inc., Series E                                                                  | CUSIP: 446150AL8<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   3742000 | PA      | $3646291.69   | 0.04%             | 2023-04-15      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                                     | Fremont Home Loan Trust, Series 2004-C, Class M1                                                       | CUSIP: 35729PET3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    483690 | PA      | $448398.21    | 0.00%             | 2034-08-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Goodman Networks, Inc.                                                      | Goodman Networks, Inc.                                                                                 | CUSIP: 38239H204<br>LEI: 549300UMUT10TOBP5N08 | Long             | EP               | CORP              | US        |     63631 | NS      | $636.31       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Ithaca Energy North Sea plc                                                 | Ithaca Energy North Sea plc                                                                            | CUSIP: 46567TAB0<br>LEI: 213800BMMUN3AKWBIO91 | Long             | DBT              | CORP              | GB        |    991000 | PA      | $973471.86    | 0.01%             | 2026-07-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254CL2<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   3030000 | PA      | $3161132.40   | 0.03%             | 2025-11-16      | Variable      | 7.78%                 | Yes           |                  2 | On Loan: —       |
| Progress Residential Trust                                                  | Progress Residential Trust, Series 2022-SFR3, Class D                                                  | CUSIP: 74331UAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1250000 | PA      | $1160146.25   | 0.01%             | 2039-04-17      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397YT4<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1935000 | PA      | $1746337.50   | 0.02%             | 2027-11-02      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                | Royal Caribbean Cruises Ltd.                                                                           | CUSIP: 780153BL5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   5792000 | PA      | $6146441.44   | 0.06%             | 2027-08-15      | Fixed         | 11.62%                | Yes           |                  2 | On Loan: —       |
| Stanwich Mortgage Loan Co. LLC                                              | Stanwich Mortgage Loan Co. LLC, Series 2021-NPB1, Class A2                                             | CUSIP: 85501YAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5500000 | PA      | $4712437.95   | 0.05%             | 2026-10-16      | Variable      | 4.38%                 | Yes           |                  2 | On Loan: No      |
| First Franklin Mortgage Loan Asset-Backed Certificates                      | First Franklin Mortgage Loan Asset-Backed Certificates, Series 2004-FF3, Class M1                      | CUSIP: 36228FU61<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    347450 | PA      | $338217.13    | 0.00%             | 2034-05-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| DEXUS Finance Pty. Ltd.                                                     | DEXUS Finance Pty. Ltd.                                                                                | CUSIP: N/A<br>LEI: 254900Q8HV90024Z7W84       | Long             | DBT              | CORP              | AU        |   1600000 | PA      | $1078538.80   | 0.01%             | 2026-06-19      | Fixed         | 2.30%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325BM6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    950000 | PA      | $783037.50    | 0.01%             | 2041-01-18      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Nippon Steel Corp.                                                          | Nippon Steel Corp.                                                                                     | CUSIP: N/A<br>LEI: 35380065QWQ4U2V3PA33       | Long             | EC               | CORP              | JP        |    149100 | NS      | $3103477.70   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |    100000 | PA      | $75500.00     | 0.00%             | 2032-02-16      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| CWABS, Inc., Asset-Backed Certificates                                      | CWABS, Inc. Asset-Backed Certificates, Series 2004-1, Class M2                                         | CUSIP: 126671Z33<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    372441 | PA      | $369072.79    | 0.00%             | 2034-03-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| PRET LLC                                                                    | PRET LLC, Series 2021-RN4, Class A2                                                                    | CUSIP: 69359QAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4534384.00   | 0.04%             | 2051-10-25      | Variable      | 5.19%                 | Yes           |                  2 | On Loan: No      |
| Bank of Montreal                                                            | Bank of Montreal                                                                                       | CUSIP: 06368EA36<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1199000 | PA      | $1154991.12   | 0.01%             | 2023-12-08      | Fixed         | 0.45%                 | No            |                  2 | On Loan: No      |
| Venator Finance SARL                                                        | Venator Finance SARL                                                                                   | CUSIP: 9226APAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3375000 | PA      | $1189991.25   | 0.01%             | 2025-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: —       |
| Wells Fargo Mortgage-Backed Securities Trust                                | Wells Fargo Mortgage-Backed Securities Trust, Series 2006-AR19, Class A3                               | CUSIP: 949789AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     93909 | PA      | $86127.31     | 0.00%             | 2036-12-25      | Variable      | 4.56%                 | No            |                  2 | On Loan: No      |
| HK Electric Investments & HK Electric Investments Ltd.                      | HK Electric Investments & HK Electric Investments Ltd.                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    767000 | NS      | $530175.78    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios SA                              | ACS Actividades de Construccion y Servicios SA                                                         | CUSIP: N/A<br>LEI: 95980020140005558665       | Long             |  | CORP              | ES        |     85731 | NS      | $43497.59     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions, Inc.                                                    | Motorola Solutions, Inc.                                                                               | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     27192 | NS      | $6988615.92   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank Abp                                                             | Nordea Bank Abp                                                                                        | CUSIP: 65559CAE1<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   2615000 | PA      | $2310926.15   | 0.02%             | 2026-09-30      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2019-23, Class JS                                                                         | CUSIP: 38381RTA7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3047055 | PA      | $284516.94    | 0.00%             | 2049-02-20      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| Kansai Electric Power Co., Inc. (The)                                       | Kansai Electric Power Co., Inc. (The)                                                                  | CUSIP: N/A<br>LEI: 353800PFUKP5ONPJNZ86       | Long             | EC               | CORP              | JP        |    653900 | NS      | $6288618.29   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |   1500000 | PA      | $1201875.00   | 0.01%             | 2044-09-19      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| MediaTek, Inc.                                                              | MediaTek, Inc.                                                                                         | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |     78000 | NS      | $1884555.77   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MASTR Asset-Backed Securities Trust                                         | MASTR Asset-Backed Securities Trust, Series 2005-NC1, Class M4                                         | CUSIP: 57643LGJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    514007 | PA      | $500525.86    | 0.00%             | 2034-12-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | DBT              | CORP              | FR        |   3130000 | PA      | $3834548.55   | 0.04%             | 2026-06-23      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2017-37, Class AS                                                                  | CUSIP: 3136AWGC5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7556834 | PA      | $864527.55    | 0.01%             | 2047-05-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.                                         | Hong Kong Exchanges & Clearing Ltd.                                                                    | CUSIP: N/A<br>LEI: 213800YTVSXYQN17BW16       | Long             | EC               | CORP              | HK        |    177100 | NS      | $7965531.30   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Longfor Group Holdings Ltd.                                                 | Longfor Group Holdings Ltd.                                                                            | CUSIP: N/A<br>LEI: 254900UJX27B2F1JYR13       | Long             | DBT              | CORP              | KY        |    200000 | PA      | $175350.00    | 0.00%             | 2028-01-16      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Triumph Group, Inc.                                                         | Triumph Group, Inc.                                                                                    | CUSIP: 896818AP6<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1418531.40   | 0.01%             | 2025-08-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| New Residential Mortgage Loan Trust                                         | New Residential Mortgage Loan Trust, Series 2019-NQM4, Class B2                                        | CUSIP: 64828EAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3405158.00   | 0.03%             | 2059-09-25      | Variable      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| Team Health Holdings, Inc.                                                  | Team Health Holdings, Inc., 1st Lien Term Loan B                                                       | CUSIP: 87817JAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    412037 | PA      | $340960.54    | 0.00%             | 2027-03-02      | Variable      | 9.81%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2007-9T1, Class 3A1                                                     | CUSIP: 02150JBA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       458 | PA      | $458.02       | 0.00%             | 2022-05-25      | Fixed         | 5.50%                 | No            |                  3 | On Loan: No      |
| Danske Bank A/S                                                             | Danske Bank A/S                                                                                        | CUSIP: 23636AAZ4<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    200000 | PA      | $179741.87    | 0.00%             | 2026-09-11      | Variable      | 1.62%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-10, Class A4                                              | CUSIP: 12545CAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     99746 | PA      | $46489.19     | 0.00%             | 2037-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Nexstar Broadcasting, Inc.                                                  | Nexstar Broadcasting, Inc., 1st Lien Term Loan B                                                       | CUSIP: 65336RAW8<br>LEI: 5493006PK6I4I2OOT688 | Long             | LON              | CORP              | US        |    454051 | PA      | $453860.39    | 0.00%             | 2026-09-18      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                                           | GLS Auto Receivables Issuer Trust, Series 2019-2A, Class D                                             | CUSIP: 36257NAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $977010.80    | 0.01%             | 2026-02-17      | Fixed         | 4.52%                 | Yes           |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc.                                                                               | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |   1573743 | NS      | $8262150.75   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| United Utilities Group plc                                                  | United Utilities Group plc                                                                             | CUSIP: N/A<br>LEI: 2138002IEYQAOC88ZJ59       | Long             | EC               | CORP              | GB        |    219757 | NS      | $2875537.32   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Holdings, Inc.                                          | Nationstar Mortgage Holdings, Inc.                                                                     | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3609000 | PA      | $3153219.39   | 0.03%             | 2028-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Paramount Global                                                            | Paramount Global                                                                                       | CUSIP: 92556HAD9<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    145000 | PA      | $124473.14    | 0.00%             | 2032-05-19      | Fixed         | 4.20%                 | No            |                  2 | On Loan: —       |
| GCAT Trust                                                                  | GCAT Trust, Series 2020-NQM1, Class B1                                                                 | CUSIP: 36167FAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2335315.20   | 0.02%             | 2060-01-25      | Variable      | 3.64%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander SA                                                          | Banco Santander SA                                                                                     | CUSIP: 05964HAS4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2200000 | PA      | $2208803.48   | 0.02%             | 2027-08-18      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| Evergy, Inc.                                                                | Evergy, Inc.                                                                                           | CUSIP: 30034WAB2<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |    152000 | PA      | $135173.27    | 0.00%             | 2029-09-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, STRIPS, Series 356, Class S5                                                                    | CUSIP: 31325WWV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7651946 | PA      | $846428.23    | 0.01%             | 2047-09-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The), Series V                                                     | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   6445000 | PA      | $6446933.50   | 0.06%             | 2027-09-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Bluestar Finance Holdings Ltd.                                              | Bluestar Finance Holdings Ltd.                                                                         | CUSIP: N/A<br>LEI: 300300294ZKDSAV43I87       | Long             | DBT              | CORP              | VG        |    350000 | PA      | $335125.00    | 0.00%             | 2024-07-12      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| PNMAC FMSR Issuer Trust                                                     | PNMAC FMSR ISSUER TRUST, Series 2018-FT1, Class A                                                      | CUSIP: 69346MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2878000 | PA      | $2803445.99   | 0.03%             | 2023-04-25      | Floating      | 6.86%                 | Yes           |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank Ltd.                                             | Sumitomo Mitsui Trust Bank Ltd.                                                                        | CUSIP: 86563HRS1<br>LEI: 5493006GGLR4BTEL8O61 | Long             | STIV             | CORP              | JP        |   1850000 | PA      | $1829548.77   | 0.02%             | 2023-04-26      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Nippon Life Insurance Co.                                                   | Nippon Life Insurance Co.                                                                              | CUSIP: 654579AD3<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |   2887000 | PA      | $2855332.96   | 0.03%             | 2044-10-16      | Variable      | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Zoetis, Inc.                                                                | Zoetis, Inc.                                                                                           | CUSIP: 98978VAS2<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    182000 | PA      | $154085.28    | 0.00%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2020-CBM, Class F                                                    | CUSIP: 20049AAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2750000 | PA      | $2360856.30   | 0.02%             | 2037-02-10      | Variable      | 3.63%                 | Yes           |                  2 | On Loan: No      |
| China Oil & Gas Group Ltd.                                                  | China Oil & Gas Group Ltd.                                                                             | CUSIP: N/A<br>LEI: 52990063CVI7GDV4JZ06       | Long             | DBT              | CORP              | BM        |   1200000 | PA      | $1063350.00   | 0.01%             | 2026-06-30      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Cardinal Health, Inc.                                                       | Cardinal Health, Inc.                                                                                  | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     76659 | NS      | $5921907.75   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GTA Funding LLC                                                             | GTA Funding LLC                                                                                        | CUSIP: 40060XSQ4<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1800000 | PA      | $1772942.15   | 0.02%             | 2023-05-24      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                                     | SS&C Technologies, Inc.                                                                                | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   7793000 | PA      | $7494872.55   | 0.07%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Public Service Enterprise Group, Inc.                                       | Public Service Enterprise Group, Inc.                                                                  | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |     44386 | NS      | $2748824.98   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FMG Resources August 2006 Pty. Ltd.                                         | FMG Resources August 2006 Pty. Ltd.                                                                    | CUSIP: 30251GAW7<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    265000 | PA      | $262454.34    | 0.00%             | 2024-05-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Americas, Inc.                                                | Bausch Health Americas, Inc.                                                                           | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |   5791000 | PA      | $3053188.93   | 0.03%             | 2027-01-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| News Corp.                                                                  | News Corp.                                                                                             | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |   4280000 | PA      | $3829658.40   | 0.04%             | 2029-05-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Churchill Downs, Inc.                                                       | Churchill Downs, Inc.                                                                                  | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    455000 | PA      | $425725.30    | 0.00%             | 2028-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Gannett Holdings LLC                                                        | Gannett Holdings LLC                                                                                   | CUSIP: 36474GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1624000 | PA      | $1255874.64   | 0.01%             | 2026-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Pactiv Evergreen Group Issuer, Inc.                                         | Pactiv Evergreen Group Issuer, Inc.                                                                    | CUSIP: 76174LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4607000 | PA      | $4134782.50   | 0.04%             | 2027-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   1006000 | PA      | $956926.86    | 0.01%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2014-UBS5, Class D                                                   | CUSIP: 12592KAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5100000 | PA      | $4062989.46   | 0.04%             | 2047-09-10      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KF63, Class B                                                        | CUSIP: 30311FAC1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2922786 | PA      | $2830420.37   | 0.03%             | 2029-05-25      | Floating      | 6.74%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1455000 | PA      | $1251439.30   | 0.01%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2007-1F, Class 3A13                                                    | CUSIP: 3622MPBC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    211729 | PA      | $141925.00    | 0.00%             | 2037-01-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                                         | Herc Holdings, Inc.                                                                                    | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   5623000 | PA      | $5384022.50   | 0.05%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| Medco Platinum Road Pte. Ltd.                                               | Medco Platinum Road Pte. Ltd.                                                                          | CUSIP: N/A<br>LEI: 254900CW3HTAEZITE455       | Long             | DBT              | CORP              | SG        |   2200000 | PA      | $2169475.00   | 0.02%             | 2025-01-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                                  | AerCap Ireland Capital DAC, Series 3NC1                                                                | CUSIP: 00774MBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1135000 | PA      | $1058489.68   | 0.01%             | 2024-10-29      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corp.                                                  | Garda World Security Corp., 1st Lien Term Loan B                                                       | CUSIP: C4000KAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    400000 | PA      | $397800.00    | 0.00%             | 2026-10-30      | Variable      | 8.93%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                                   | HCA, Inc.                                                                                              | CUSIP: 404119CC1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    329000 | PA      | $267224.60    | 0.00%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325DT9<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1000000 | PA      | $617375.00    | 0.01%             | 2051-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: —       |
| Athene Global Funding                                                       | Athene Global Funding                                                                                  | CUSIP: 04685A2S9<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   5241000 | PA      | $5026491.69   | 0.05%             | 2024-01-08      | Fixed         | 0.95%                 | Yes           |                  2 | On Loan: No      |
| CoreLogic, Inc.                                                             | CoreLogic, Inc.                                                                                        | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |   1395000 | PA      | $1109025.00   | 0.01%             | 2028-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund                                  | JPMorgan U.S. Government Money Market Fund, Share Class IM                                             | CUSIP: 4812C2270<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |  23159177 | NS      | $23159177.46  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo plc                                                                  | Diageo plc                                                                                             | CUSIP: N/A<br>LEI: 213800ZVIELEA55JMJ32       | Long             | EC               | CORP              | GB        |    281133 | NS      | $12292852.66  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Gap, Inc. (The)                                                             | Gap, Inc. (The)                                                                                        | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |   2435000 | PA      | $1868862.50   | 0.02%             | 2029-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| TC Energy Corp.                                                             | TC Energy Corp.                                                                                        | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |    377065 | NS      | $16246767.46  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens & Minor, Inc.                                                         | Owens & Minor, Inc.                                                                                    | CUSIP: 690732AF9<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |   3412000 | PA      | $2779381.08   | 0.03%             | 2029-03-31      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: —       |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2022-1, Class B2                                                      | CUSIP: 19688HAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2581000 | PA      | $1820972.41   | 0.02%             | 2066-12-27      | Variable      | 4.11%                 | Yes           |                  2 | On Loan: No      |
| Par Pharmaceutical, Inc.                                                    | Par Pharmaceutical, Inc.                                                                               | CUSIP: 69888XAA7<br>LEI: 549300KK5WR4MGN4YT97 | Long             | DBT              | CORP              | US        |   6648000 | PA      | $5202124.22   | 0.05%             | 2027-04-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AJ0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   1585000 | PA      | $1407654.35   | 0.01%             | 2029-05-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Gemdale Ever Prosperity Investment Ltd.                                     | Gemdale Ever Prosperity Investment Ltd.                                                                | CUSIP: N/A<br>LEI: 3003006EHCB4UYM62865       | Long             | DBT              | CORP              | HK        |    300000 | PA      | $277406.25    | 0.00%             | 2024-08-12      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2005-QA5, Class A2                                                                  | CUSIP: 76110H5A3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    742292 | PA      | $661499.34    | 0.01%             | 2035-04-25      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), Escrow                                                                              | CUSIP: 428ESCAA5<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |   1106000 | PA      | $22120.00     | 0.00%             | 2022-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                                               | Staples, Inc.                                                                                          | CUSIP: 855030AN2<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |  14093000 | PA      | $12522335.15  | 0.12%             | 2026-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Centex Home Equity Loan Trust                                               | Centex Home Equity Loan Trust, Series 2004-D, Class MV2                                                | CUSIP: 152314LR9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     88063 | PA      | $89733.66     | 0.00%             | 2034-09-25      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                               | Six Flags Entertainment Corp.                                                                          | CUSIP: 83001AAB8<br>LEI: 549300JYTDUAA4JQ3717 | Long             | DBT              | CORP              | US        |   2676000 | PA      | $2619135.00   | 0.03%             | 2024-07-31      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |   1487000 | PA      | $1448245.06   | 0.01%             | 2044-04-30      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| Greenko Wind Projects Mauritius Ltd.                                        | Greenko Wind Projects Mauritius Ltd.                                                                   | CUSIP: 39531JAA2<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |   1000000 | PA      | $941437.50    | 0.01%             | 2025-04-06      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                                           | Clarios Global LP                                                                                      | CUSIP: 18060TAA3<br>LEI: 549300474L1ZLXZY2P98 | Long             | DBT              | CORP              | CA        |   1530000 | PA      | $1539287.10   | 0.01%             | 2025-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| APi Group DE, Inc.                                                          | APi Group DE, Inc.                                                                                     | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |   2586000 | PA      | $2238570.90   | 0.02%             | 2029-07-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Gabonese Republic                                                           | Gabonese Republic                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | GA        |    300000 | PA      | $290250.00    | 0.00%             | 2025-06-16      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Shearer's Foods LLC                                                         | Shearer's Foods LLC, 1st Lien Term Loan                                                                | CUSIP: 82087UAL1<br>LEI: 549300AQWIJSYS2CIH04 | Long             | LON              | CORP              | US        |    322592 | PA      | $316220.32    | 0.00%             | 2027-09-23      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Republic of Zambia                                                          | Republic of Zambia                                                                                     | CUSIP: N/A<br>LEI: 213800DMLAZ6LGMMD849       | Long             | DBT              | NUSS              | ZM        |    800000 | PA      | $400000.00    | 0.00%             | 2027-07-30      | Fixed         | 8.97%                 | Yes           |                  2 | On Loan: No      |
| Pharmaron Beijing Co. Ltd.                                                  | Pharmaron Beijing Co. Ltd.                                                                             | CUSIP: N/A<br>LEI: 300300JYXHGVS5SNGG54       | Long             | DBT              | CORP              | CN        |    600000 | PA      | $543547.04    | 0.01%             | 2026-06-18      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2007-8CB, Class A9                                                      | CUSIP: 02150FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    145230 | PA      | $86947.75     | 0.00%             | 2037-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                                                    | Arthur J Gallagher & Co.                                                                               | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     15055 | NS      | $2946564.60   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubu Electric Power Co., Inc.                                              | Chubu Electric Power Co., Inc.                                                                         | CUSIP: N/A<br>LEI: 529900A76GOP0PGNHT63       | Long             | EC               | CORP              | JP        |    278200 | NS      | $2996512.84   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2004-5, Class 1M2                                                              | CUSIP: 45254NJL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     85594 | PA      | $80156.78     | 0.00%             | 2034-10-25      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4103, Class SB                                                                    | CUSIP: 3137AUB24<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2948434 | PA      | $296691.47    | 0.00%             | 2042-09-15      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Tropicana, Inc.                                                             | Tropicana, Inc., 1st Lien Term Loan                                                                    | CUSIP: 62984CAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    313425 | PA      | $287623.86    | 0.00%             | 2029-01-24      | Variable      | 7.93%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                                       | Lockheed Martin Corp.                                                                                  | CUSIP: 539830BW8<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |     63000 | PA      | $67228.65     | 0.00%             | 2033-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-86                                                                                   | CUSIP: 38379RB77<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1784811 | PA      | $68155.87     | 0.00%             | 2059-05-16      | Variable      | 0.68%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp                                                                                             | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    215873 | NS      | $10750475.40  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp.                                                                   | PPL Corp.                                                                                              | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |    325306 | NS      | $9629057.60   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TransCanada PipeLines Ltd.                                                  | TransCanada PipeLines Ltd.                                                                             | CUSIP: 89352HAK5<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    713000 | PA      | $706572.30    | 0.01%             | 2023-10-16      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                       | Gilead Sciences, Inc.                                                                                  | CUSIP: 375558BY8<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    491000 | PA      | $405061.47    | 0.00%             | 2030-10-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                                                      | Encompass Health Corp.                                                                                 | CUSIP: 421924BT7<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   4690000 | PA      | $4654840.95   | 0.04%             | 2025-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                                         | Rocket Mortgage LLC                                                                                    | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3018000 | PA      | $2546256.42   | 0.02%             | 2029-03-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Redwood Trust, Inc.                                                         | Redwood Trust, Inc.                                                                                    | CUSIP: 758075AC9<br>LEI: DRBV4N1ERQLEMIF11G78 | Long             | DBT              | CORP              | US        |    716000 | PA      | $703470.00    | 0.01%             | 2023-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sanlam Ltd.                                                                 | Sanlam Ltd.                                                                                            | CUSIP: N/A<br>LEI: 37890014418406D9FC23       | Long             | EC               | CORP              | ZA        |   2354454 | NS      | $7618147.14   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corp.                                                  | California Resources Corp.                                                                             | CUSIP: 13057QAH0<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |   6640000 | PA      | $6462380.00   | 0.06%             | 2026-02-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust                                  | JPMDB Commercial Mortgage Securities Trust, Series 2016-C4, Class D                                    | CUSIP: 46646RAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2514000 | PA      | $1816678.50   | 0.02%             | 2049-12-15      | Variable      | 3.07%                 | Yes           |                  2 | On Loan: No      |
| ADT Security Corp. (The)                                                    | ADT Security Corp. (The)                                                                               | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |   4125000 | PA      | $3672281.25   | 0.04%             | 2029-08-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| ESC Co.                                                                     | ESC Co., Escrow                                                                                        | CUSIP: 458ESCAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1585000 | PA      | $158.50       | 0.00%             | 2025-07-15      | Fixed         | 9.75%                 | No            |                  3 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    320000 | PA      | $264591.02    | 0.00%             | 2032-10-20      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                                                  | Axalta Coating Systems LLC                                                                             | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4423000 | PA      | $4179735.00   | 0.04%             | 2027-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Gabonese Republic                                                           | Gabonese Republic                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | GA        |    400000 | PA      | $387000.00    | 0.00%             | 2025-06-16      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Seasoned Credit Risk Transfer Trust                                         | Seasoned Credit Risk Transfer Trust, Series 2017-3, Class AIO                                          | CUSIP: 35563PCH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        | 191458652 | PA      | $115832.48    | 0.00%             | 2056-07-25      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Scripps Escrow, Inc.                                                        | Scripps Escrow, Inc.                                                                                   | CUSIP: 81104PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1565000 | PA      | $1396762.50   | 0.01%             | 2027-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Hyland Software, Inc.                                                       | Hyland Software, Inc., 1st Lien Term Loan                                                              | CUSIP: 44908XAT5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    474115 | PA      | $472445.85    | 0.00%             | 2024-07-01      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Cornwall Jersey Ltd.                                                        | Cornwall Jersey Ltd.                                                                                   | CUSIP: N/A<br>LEI: 213800NFORA6FS9LQ898       | Long             | DBT              | CORP              | JE        |    500000 | PA      | $406224.08    | 0.00%             | 2026-04-16      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| DBJPM Mortgage Trust                                                        | DBJPM Mortgage Trust, Series 2016-C3, Class E                                                          | CUSIP: 23312VAU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $840836.13    | 0.01%             | 2049-08-10      | Variable      | 4.22%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-80CB, Class 5A1                                                    | CUSIP: 12668BGG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2737722 | PA      | $2604797.02   | 0.03%             | 2036-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                      | Mauser Packaging Solutions Holding Co.                                                                 | CUSIP: 12429TAD6<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5995800.00   | 0.06%             | 2024-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA                                       | Banque Federative du Credit Mutuel SA                                                                  | CUSIP: 06675FAZ0<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   1420000 | PA      | $1418912.18   | 0.01%             | 2026-01-26      | Fixed         | 4.93%                 | Yes           |                  2 | On Loan: No      |
| DISH Network Corp.                                                          | DISH Network Corp.                                                                                     | CUSIP: 25470MAD1<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    498000 | PA      | $461397.00    | 0.00%             | 2024-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Harsco Corp.                                                                | Harsco Corp.                                                                                           | CUSIP: 415864AM9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | DBT              | CORP              | US        |    757000 | PA      | $640611.25    | 0.01%             | 2027-07-31      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2004-9, Class 1A1                                                              | CUSIP: 45254NKX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         1 | PA      | $1.24         | 0.00%             | 2035-01-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: 53944YAN3<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   4285000 | PA      | $4224002.00   | 0.04%             | 2024-05-11      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                                    | Energizer Holdings, Inc.                                                                               | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   4970000 | PA      | $4448150.00   | 0.04%             | 2028-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| DZ Bank AG Deutsche Zentral-Genossenschaftsbank Frankfurt Am Main           | DZ Bank AG                                                                                             | CUSIP: 23343WUT2<br>LEI: 529900HNOAA1KXQJUQ27 | Long             | STIV             | CORP              | DE        |   1041000 | PA      | $1015910.34   | 0.01%             | 2023-07-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC                                     | Daimler Truck Finance North America LLC                                                                | CUSIP: 233853AN0<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $1196147.29   | 0.01%             | 2025-01-17      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2013-GC12, Class D                                                | CUSIP: 36197XAB0<br>LEI: 549300SSCQUZ3RRV2T53 | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $731958.38    | 0.01%             | 2046-06-10      | Variable      | 4.41%                 | Yes           |                  2 | On Loan: No      |
| Citizens Bank NA                                                            | Citizens Bank NA                                                                                       | CUSIP: 17401QAR2<br>LEI: DRMSV1Q0EKMEXLAU1P80 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250136.68    | 0.00%             | 2023-03-29      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYM0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     85000 | PA      | $76086.04     | 0.00%             | 2027-10-21      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| Shui On Development Holding Ltd.                                            | Shui On Development Holding Ltd.                                                                       | CUSIP: N/A<br>LEI: 3003005J4J3G9CZFDK52       | Long             | DBT              | CORP              | KY        |    400000 | PA      | $344075.00    | 0.00%             | 2026-06-29      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Banca Generali SpA                                                          | Banca Generali SpA                                                                                     | CUSIP: N/A<br>LEI: 815600903231FA2E7698       | Long             | EC               | CORP              | IT        |     74555 | NS      | $2750445.73   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                                                | Ardagh Packaging Finance plc                                                                           | CUSIP: 03969AAQ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    479000 | PA      | $468342.25    | 0.00%             | 2025-04-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Repay Holdings Corp.                                                        | Repay Holdings Corp.                                                                                   | CUSIP: 76029LAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    855000 | PA      | $685603.13    | 0.01%             | 2026-02-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                  | Allison Transmission, Inc.                                                                             | CUSIP: 019736AE7<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   3367000 | PA      | $3192656.74   | 0.03%             | 2027-10-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Moss Creek Resources Holdings, Inc.                                         | Moss Creek Resources Holdings, Inc.                                                                    | CUSIP: 61965RAB1<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    118000 | PA      | $113937.21    | 0.00%             | 2027-05-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: 456837AF0<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    600000 | PA      | $586542.00    | 0.01%             | 2025-04-16      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Cabinetworks                                                                | Cabinetworks, 1st Lien Term Loan B                                                                     | CUSIP: 00488YAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5662755 | PA      | $4552062.28   | 0.04%             | 2028-05-17      | Variable      | 8.98%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GZE7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    848000 | PA      | $821843.07    | 0.01%             | 2023-12-06      | Fixed         | 1.22%                 | No            |                  2 | On Loan: No      |
| PCI Pharma Services, Inc.                                                   | PCI Pharma Services, Inc., 1st Lien Term Loan                                                          | CUSIP: 69515EAH5<br>LEI: 549300SL20D7D39KSB12 | Long             | LON              | CORP              | US        |    696946 | PA      | $682881.31    | 0.01%             | 2027-11-30      | Variable      | 8.23%                 | No            |                  2 | On Loan: No      |
| SES SA                                                                      | SES SA                                                                                                 | CUSIP: N/A<br>LEI: 5493008JPA4HYMH1HX51       | Long             | EC               | CORP              | LU        |    207980 | NS      | $1613951.47   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ADT Security Corp. (The)                                                    | ADT Security Corp. (The)                                                                               | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |   6428000 | PA      | $5736091.75   | 0.06%             | 2032-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-HE8, Class M2                                    | CUSIP: 61744CHB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    217412 | PA      | $208420.48    | 0.00%             | 2034-09-25      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| RingCentral, Inc.                                                           | RingCentral, Inc.                                                                                      | CUSIP: 76680RAF4<br>LEI: 549300C8EH0H1614VE84 | Long             | DBT              | CORP              | US        |   1093000 | PA      | $955691.88    | 0.01%             | 2025-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2006-4, Class 2A1                                       | CUSIP: 05950AAK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1913 | PA      | $1683.27      | 0.00%             | 2046-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mega Financial Holding Co. Ltd.                                             | Mega Financial Holding Co. Ltd.                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |   2209050 | NS      | $2358850.31   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                       | Alexandria Real Estate Equities, Inc.                                                                  | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     43850 | NS      | $7048449.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-107, Class SL                                                                        | CUSIP: 38380TA71<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5914551 | PA      | $716703.99    | 0.01%             | 2047-07-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Brooks Automation                                                           | Brooks Automation, 2nd Lien Term Loan                                                                  | CUSIP: 02090CAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    168750 | PA      | $148078.13    | 0.00%             | 2030-02-01      | Variable      | 10.51%                | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                                   | Republic of Cote d'Ivoire                                                                              | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |   2530000 | PA      | $2245375.00   | 0.02%             | 2033-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| WPP plc                                                                     | WPP plc                                                                                                | CUSIP: N/A<br>LEI: 549300LSGBXPYHXGDT93       | Long             | EC               | CORP              | JE        |    540360 | NS      | $6313425.81   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2004-15F, Class 1A2                                                    | CUSIP: 36242DQU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    183605 | PA      | $140462.43    | 0.00%             | 2034-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wabash National Corp.                                                       | Wabash National Corp.                                                                                  | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |   3121000 | PA      | $2738549.98   | 0.03%             | 2028-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                                         | Cisco Systems, Inc.                                                                                    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    143236 | NS      | $6971296.12   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Pretium Mortgage Credit Partners I LLC                                      | Pretium Mortgage Credit Partners I LLC, Series 2021-NPL1, Class A2                                     | CUSIP: 741389AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3460697.60   | 0.03%             | 2060-09-27      | Variable      | 4.21%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K090, Class X3                        | CUSIP: 3137FLMY7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1750000 | PA      | $195946.10    | 0.00%             | 2029-10-25      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| Vanguard International Semiconductor Corp.                                  | Vanguard International Semiconductor Corp.                                                             | CUSIP: N/A<br>LEI: 2549001S5Q158BIJJO13       | Long             | EC               | CORP              | TW        |   2174000 | NS      | $7307346.18   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K723, Class X3                        | CUSIP: 3137BSPZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6543757 | PA      | $80562.16     | 0.00%             | 2034-10-25      | Variable      | 1.91%                 | No            |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                                                | Intelsat Jackson Holdings SA                                                                           | CUSIP: N/A<br>LEI: 8XJ8KF85PBKK1TLMFN29       | Long             |  | CORP              | LU        |     28251 | NS      | $282.51       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JX39<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   1050000 | PA      | $711375.00    | 0.01%             | 2059-11-20      | Fixed         | 8.15%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2005-HE1, Class M2                                    | CUSIP: 61744CKP0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    235214 | PA      | $208217.72    | 0.00%             | 2034-12-25      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3374000 | PA      | $2945974.36   | 0.03%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Republic of Costa Rica                                                      | Republic of Costa Rica                                                                                 | CUSIP: N/A<br>LEI: 549300S1EK2VN6XVJP58       | Long             | DBT              | NUSS              | CR        |   1200000 | PA      | $1174725.00   | 0.01%             | 2031-02-19      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: 456837AY9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   3965000 | PA      | $3217201.00   | 0.03%             | 2027-05-16      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QBV3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    470000 | PA      | $449672.50    | 0.00%             | 2025-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| Centene Corp.                                                               | Centene Corp.                                                                                          | CUSIP: 15135BAY7<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   2560000 | PA      | $2217596.03   | 0.02%             | 2028-07-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Stellantis NV                                                               | Stellantis NV                                                                                          | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |    653160 | NS      | $10268318.62  | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Hopson Development Holdings Ltd.                                            | Hopson Development Holdings Ltd.                                                                       | CUSIP: N/A<br>LEI: 549300HYMKPTC1DTZS42       | Long             | DBT              | CORP              | BM        |   2750000 | PA      | $2542890.63   | 0.02%             | 2024-05-18      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Jazz Pharmaceuticals plc                                                    | Jazz Pharmaceuticals plc, 1st Lien Term Loan B                                                         | CUSIP: G5080AAF9<br>LEI: 635400WUEO2NSG5OIU34 | Long             | LON              | CORP              | LU        |    513418 | PA      | $512694.15    | 0.00%             | 2028-05-05      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley, Series P                                                                               | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    200059 | NS      | $5209536.36   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group, Inc.                                                    | UnitedHealth Group, Inc.                                                                               | CUSIP: 91324PEP3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72976.99     | 0.00%             | 2028-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Assicurazioni Generali SpA                                                  | Assicurazioni Generali SpA                                                                             | CUSIP: N/A<br>LEI: 549300X5UKJVE386ZB61       | Long             | EC               | CORP              | IT        |    364519 | NS      | $7115887.48   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                            | Deutsche Bank AG                                                                                       | CUSIP: 251526CC1<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   7620000 | PA      | $7459191.18   | 0.07%             | 2024-09-18      | Variable      | 2.22%                 | No            |                  2 | On Loan: No      |
| RKPF Overseas Ltd.                                                          | RKPF Overseas Ltd.                                                                                     | CUSIP: N/A<br>LEI: 254900P8BXRCW5458103       | Long             | DBT              | CORP              | VG        |   2700000 | PA      | $2452443.75   | 0.02%             | 2024-09-30      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Entegris, Inc.                                                              | Entegris, Inc., 1st Lien Term Loan B                                                                   | CUSIP: 29362LAL8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    500000 | PA      | $501565.00    | 0.00%             | 2029-07-06      | Variable      | 7.58%                 | No            |                  2 | On Loan: No      |
| Wartsila OYJ Abp                                                            | Wartsila OYJ Abp                                                                                       | CUSIP: N/A<br>LEI: 743700G7A9J1PHM3X223       | Long             | EC               | CORP              | FI        |    300985 | NS      | $2862670.80   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Uber Technologies, Inc.                                                     | Uber Technologies, Inc.                                                                                | CUSIP: 90353TAJ9<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   1071000 | PA      | $941137.34    | 0.01%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                                     | RHP Hotel Properties LP                                                                                | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2463000 | PA      | $2189121.03   | 0.02%             | 2029-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C19, Class D                           | CUSIP: 61764PAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2585000 | PA      | $2207081.01   | 0.02%             | 2047-12-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Serbia                                                          | Republic of Serbia                                                                                     | CUSIP: 817477AH5<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    300000 | PA      | $302250.00    | 0.00%             | 2033-09-26      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Presidio Holdings, Inc.                                                     | Presidio Holdings, Inc.                                                                                | CUSIP: 74101XAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2415000 | PA      | $2244947.92   | 0.02%             | 2027-02-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                                    | UnitedHealth Group, Inc.                                                                               | CUSIP: 91324PES7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     23000 | PA      | $26334.99     | 0.00%             | 2053-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CWABS Asset-Backed Certificates Trust                                       | CWABS Asset-Backed Certificates Trust, Series 2005-AB4, Class 2A1                                      | CUSIP: 126670KK3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1107526 | PA      | $1015999.61   | 0.01%             | 2036-03-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                                               | PepsiCo, Inc.                                                                                          | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     27061 | NS      | $4627972.22   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EnLink Midstream LLC                                                        | EnLink Midstream LLC                                                                                   | CUSIP: 29336TAA8<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |    803000 | PA      | $773935.42    | 0.01%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                                    | Cooperatieve Rabobank UA                                                                               | CUSIP: 21684AAC0<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   1600000 | PA      | $1569315.74   | 0.02%             | 2025-08-04      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Ensemble RCM LLC                                                            | Ensemble RCM LLC, 1st Lien Term Loan                                                                   | CUSIP: 29359BAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    258197 | PA      | $258013.98    | 0.00%             | 2026-08-03      | Variable      | 7.94%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-10CB, Class 1A5                                                    | CUSIP: 12667GBA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2354154 | PA      | $1883685.89   | 0.02%             | 2035-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                                       | Spectrum Brands, Inc.                                                                                  | CUSIP: 84762LAW5<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   5413000 | PA      | $4916790.29   | 0.05%             | 2030-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Murphy Oil Corp.                                                            | Murphy Oil Corp.                                                                                       | CUSIP: 626717AM4<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    445000 | PA      | $435005.34    | 0.00%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CNX Resources Corp.                                                         | CNX Resources Corp.                                                                                    | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1533021.62   | 0.01%             | 2029-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GKE8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   6755000 | PA      | $6312795.34   | 0.06%             | 2025-12-06      | Variable      | 1.53%                 | No            |                  2 | On Loan: No      |
| United Urban Investment Corp.                                               | United Urban Investment Corp.                                                                          | CUSIP: N/A<br>LEI: 353800GYZWBD7BDCN841       | Long             | EC               | CORP              | JP        |      1891 | NS      | $2151773.64   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Conduent Business Services LLC                                              | Conduent Business Services LLC                                                                         | CUSIP: 20679LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4650000 | PA      | $4115250.00   | 0.04%             | 2029-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FirstEnergy Corp.                                                           | FirstEnergy Corp.                                                                                      | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |     69801 | NS      | $2858350.95   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Partners LP                                                 | Targa Resources Partners LP                                                                            | CUSIP: 87612BBL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7393000 | PA      | $7567474.80   | 0.07%             | 2027-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Banca Mediolanum SpA                                                        | Banca Mediolanum SpA                                                                                   | CUSIP: N/A<br>LEI: 7LVZJ6XRIE7VNZ4UBX81       | Long             | EC               | CORP              | IT        |    732837 | NS      | $7011354.63   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Kia Corp.                                                                   | Kia Corp.                                                                                              | CUSIP: 493738AE8<br>LEI: 988400V8MJK9N7OI5X76 | Long             | DBT              | CORP              | KR        |    200000 | PA      | $199022.00    | 0.00%             | 2023-04-25      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Ping An Insurance Group Co. of China Ltd.                                   | Ping An Insurance Group Co. of China Ltd., Class H                                                     | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | CN        |   1784500 | NS      | $13861463.96  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Yunda Holding Investment Ltd.                                               | Yunda Holding Investment Ltd.                                                                          | CUSIP: N/A<br>LEI: 300300YSHTUKQFZYWD77       | Long             | DBT              | CORP              | VG        |    600000 | PA      | $536946.00    | 0.01%             | 2025-08-19      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Option Care Health, Inc.                                                    | Option Care Health, Inc.                                                                               | CUSIP: 68404LAA0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | DBT              | CORP              | US        |    343000 | PA      | $296290.86    | 0.00%             | 2029-10-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| State Street Corp.                                                          | State Street Corp., Series G                                                                           | CUSIP: 857477855<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EP               | CORP              | US        |     43075 | NS      | $1126411.25   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Chemical Group Corp.                                             | Mitsubishi Chemical Group Corp.                                                                        | CUSIP: N/A<br>LEI: 353800YNKX4RQUGAR072       | Long             | EC               | CORP              | JP        |   1057200 | NS      | $5932424.55   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-115, Class DS                                                                        | CUSIP: 38380XR33<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4860873 | PA      | $540864.50    | 0.01%             | 2048-08-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Moss Creek Resources Holdings, Inc.                                         | Moss Creek Resources Holdings, Inc.                                                                    | CUSIP: 61965RAA3<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |   1041000 | PA      | $961259.40    | 0.01%             | 2026-01-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2005-11, Class 4A5                                      | CUSIP: 05948KW54<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    327387 | PA      | $281150.20    | 0.00%             | 2035-12-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NMG, Inc.                                                                   | NMG, Inc.                                                                                              | CUSIP: 62929P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41340 | NS      | $6338662.20   | 0.06%             |  |  |  | No            |                  3 | On Loan: —       |
| China Resources Gas Group Ltd.                                              | China Resources Gas Group Ltd.                                                                         | CUSIP: N/A<br>LEI: 529900A0E1J5JSOKEK83       | Long             | EC               | CORP              | BM        |   1362100 | NS      | $5727954.68   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| E.W. Scripps Co.                                                            | E.W. Scripps Co., 1st Lien Term Loan B-3                                                               | CUSIP: 26928BAM1<br>LEI: 549300U1OW41QPKYW028 | Long             | LON              | CORP              | US        |    915101 | PA      | $910809.25    | 0.01%             | 2028-01-07      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                                   | Williams Cos., Inc. (The)                                                                              | CUSIP: 969457BY5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     85000 | PA      | $71942.87     | 0.00%             | 2031-03-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| State Oil Co. of the Azerbaijan Republic                                    | State Oil Co. of the Azerbaijan Republic                                                               | CUSIP: N/A<br>LEI: 2549002HARR1VE257O76       | Long             | DBT              | NUSS              | AZ        |    480000 | PA      | $499740.00    | 0.00%             | 2030-03-18      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                                  | Avis Budget Car Rental LLC                                                                             | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2708000 | PA      | $2544467.51   | 0.02%             | 2027-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Carroll County Energy LLC                                                   | Carroll County Energy LLC, 1st Lien Term Loan B                                                        | CUSIP: 14474FAW4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    273888 | PA      | $260878.57    | 0.00%             | 2026-02-16      | Variable      | 8.23%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                          | VICI Properties LP                                                                                     | CUSIP: 92564RAG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2251000 | PA      | $2178514.92   | 0.02%             | 2025-06-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ATI, Inc.                                                                   | ATI, Inc.                                                                                              | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |   1861000 | PA      | $1795664.92   | 0.02%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K061, Class X3                        | CUSIP: 3137BTUQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1544377 | PA      | $97042.94     | 0.00%             | 2044-12-25      | Variable      | 1.98%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-41CB, Class 2A13                                                   | CUSIP: 02149CBD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2195402 | PA      | $1212860.99   | 0.01%             | 2037-01-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BigCommerce Holdings, Inc.                                                  | BigCommerce Holdings, Inc.                                                                             | CUSIP: 08975PAB4<br>LEI: 549300MOVEFQ78DMPG58 | Long             | DBT              | CORP              | US        |    389000 | PA      | $294900.90    | 0.00%             | 2026-10-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                | MASTR Alternative Loan Trust, Series 2005-6, Class 1A2                                                 | CUSIP: 576434V68<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    387295 | PA      | $277571.58    | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Power Corp. of Canada                                                       | Power Corp. of Canada                                                                                  | CUSIP: 739239101<br>LEI: 549300BE2CB8T87IJV50 | Long             | EC               | CORP              | CA        |    251507 | NS      | $6821906.45   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Stockland                                                                   | Stockland                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    363822 | NS      | $1016616.81   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State Oil Co. of the Azerbaijan Republic                                    | State Oil Co. of the Azerbaijan Republic                                                               | CUSIP: N/A<br>LEI: 2549002HARR1VE257O76       | Long             | DBT              | NUSS              | AZ        |   1000000 | PA      | $1041125.00   | 0.01%             | 2030-03-18      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| CGMS Commercial Mortgage Trust                                              | CGMS Commercial Mortgage Trust, Series 2017-B1, Class E                                                | CUSIP: 17326CAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $1819335.90   | 0.02%             | 2050-08-15      | Variable      | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Vermilion Energy, Inc.                                                      | Vermilion Energy, Inc.                                                                                 | CUSIP: 923725AD7<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | DBT              | CORP              | CA        |   1174000 | PA      | $1083015.00   | 0.01%             | 2030-05-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2015-37, Class ST                                                                  | CUSIP: 3136ANZT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2876583 | PA      | $289116.18    | 0.00%             | 2045-06-25      | Floating      | 1.11%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Operating Partners LP                                        | NextEra Energy Operating Partners LP                                                                   | CUSIP: 65342QAC6<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     57000 | PA      | $53152.50     | 0.00%             | 2024-09-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2016-40                                                                                   | CUSIP: 38379UMP8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7814833 | PA      | $179006.56    | 0.00%             | 2057-07-16      | Variable      | 0.62%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JW89<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $141000.00    | 0.00%             | 2049-03-01      | Fixed         | 8.70%                 | Yes           |                  2 | On Loan: No      |
| Erste Group Bank AG                                                         | Erste Group Bank AG                                                                                    | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               | CORP              | AT        |     53850 | NS      | $2043291.75   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                            | CVS Health Corp.                                                                                       | CUSIP: 126650DR8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    174000 | PA      | $142767.73    | 0.00%             | 2031-09-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Fuyao Glass Industry Group Co. Ltd.                                         | Fuyao Glass Industry Group Co. Ltd., Class A                                                           | CUSIP: N/A<br>LEI: 549300AS5CSLWETN0P64       | Long             | EC               | CORP              | CN        |    545856 | NS      | $3164202.33   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K060, Class X3                        | CUSIP: 3137BTAF8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $59401.50     | 0.00%             | 2044-12-25      | Variable      | 1.90%                 | No            |                  2 | On Loan: No      |
| DISH Network Corp.                                                          | DISH Network Corp.                                                                                     | CUSIP: 25470MAD1<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1594000 | PA      | $1476841.00   | 0.01%             | 2024-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| LifePoint Health, Inc.                                                      | LifePoint Health, Inc., 1st Lien Term Loan B                                                           | CUSIP: 75915TAD4<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    324582 | PA      | $314935.40    | 0.00%             | 2025-11-16      | Variable      | 8.58%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    700000 | PA      | $532000.00    | 0.01%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Gray Television, Inc.                                                       | Gray Television, Inc.                                                                                  | CUSIP: 389284AA8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   5840000 | PA      | $5312823.20   | 0.05%             | 2027-05-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| Upstart Securitization Trust                                                | Upstart Securitization Trust, Series 2021-5, Class C                                                   | CUSIP: 91679JAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $1013583.36   | 0.01%             | 2031-11-20      | Fixed         | 4.15%                 | Yes           |                  2 | On Loan: No      |
| Multi-Family Connecticut Avenue Securities Trust                            | Multi-Family Connecticut Avenue Securities Trust, Series 2020-01, Class M10                            | CUSIP: 62548QAD3<br>LEI: 5493002KQF9IH3CTQZ40 | Long             | ABS-MBS          | CORP              | US        |   2836220 | PA      | $2676665.32   | 0.03%             | 2050-03-25      | Floating      | 8.26%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325CU7<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1370000 | PA      | $960541.25    | 0.01%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83367TBJ7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    450000 | PA      | $435970.24    | 0.00%             | 2025-04-14      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4834, Class SA                                                                    | CUSIP: 3137FHR21<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3028722 | PA      | $327185.87    | 0.00%             | 2048-10-15      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                                                         | DT Auto Owner Trust, Series 2021-2A, Class E                                                           | CUSIP: 23345EAJ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1235000 | PA      | $1130460.46   | 0.01%             | 2028-07-17      | Fixed         | 2.97%                 | Yes           |                  2 | On Loan: No      |
| Unilever plc                                                                | Unilever plc                                                                                           | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |    208393 | NS      | $10607020.61  | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Pure Fishing, Inc.                                                          | Pure Fishing, Inc., 1st Lien Term Loan                                                                 | CUSIP: 78471PAB6<br>LEI: 549300U8UI4Y1KEUGM58 | Long             | LON              | CORP              | US        |  11395594 | PA      | $7788888.84   | 0.07%             | 2025-12-22      | Variable      | 9.07%                 | No            |                  2 | On Loan: No      |
| Banc of America Mortgage Trust                                              | Banc of America Mortgage Trust, Series 2004-A, Class 2A2                                               | CUSIP: 05948XT27<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225559 | PA      | $218297.62    | 0.00%             | 2034-02-25      | Variable      | 3.28%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                                     | RHP Hotel Properties LP                                                                                | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8830000 | PA      | $8270389.74   | 0.08%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Truck Hero, Inc.                                                            | Truck Hero, Inc., 1st Lien Term Loan                                                                   | CUSIP: 89778PAG2<br>LEI: 54930007KT5CX7XNSD31 | Long             | LON              | CORP              | US        |    387114 | PA      | $346819.18    | 0.00%             | 2028-01-31      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| PPG Industries, Inc.                                                        | PPG Industries, Inc.                                                                                   | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     26251 | NS      | $3421555.34   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Finance America Mortgage Loan Trust                                         | Finance America Mortgage Loan Trust, Series 2004-3, Class M2                                           | CUSIP: 317350BU9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    139040 | PA      | $121665.95    | 0.00%             | 2034-11-25      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                                | Tallgrass Energy Partners LP                                                                           | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4277000 | PA      | $3849300.00   | 0.04%             | 2031-09-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2018-14, Class SA                                                                  | CUSIP: 3136B1FY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4511502 | PA      | $570253.00    | 0.01%             | 2048-03-25      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP                                                           | Genesis Energy LP                                                                                      | CUSIP: 37185LAJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $176850.00    | 0.00%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                         | American Axle & Manufacturing, Inc.                                                                    | CUSIP: 02406PBA7<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   1909000 | PA      | $1737190.00   | 0.02%             | 2028-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Tempur Sealy International, Inc.                                            | Tempur Sealy International, Inc.                                                                       | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |   7451000 | PA      | $6507852.42   | 0.06%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: 90351DAF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2170000 | PA      | $2119919.83   | 0.02%             | 2026-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                                        | Anheuser-Busch InBev Worldwide, Inc.                                                                   | CUSIP: 035240AV2<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    174000 | PA      | $164108.75    | 0.00%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ANGI Group LLC                                                              | ANGI Group LLC                                                                                         | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1433000 | PA      | $1098437.49   | 0.01%             | 2028-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc., Series C                                                                        | CUSIP: 25746UDL0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     54000 | PA      | $44819.23     | 0.00%             | 2031-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   4795000 | PA      | $4045781.25   | 0.04%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Griffon Corp.                                                               | Griffon Corp.                                                                                          | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |   3335000 | PA      | $3156310.70   | 0.03%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2012-128, Class MS                                                                 | CUSIP: 3136A9RP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1217359 | PA      | $146360.68    | 0.00%             | 2042-11-25      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K033, Class X1                        | CUSIP: 3137B4WC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  98769681 | PA      | $79450.33     | 0.00%             | 2023-07-25      | Variable      | 0.28%                 | No            |                  2 | On Loan: No      |
| Vonovia SE                                                                  | Vonovia SE                                                                                             | CUSIP: N/A<br>LEI: 5299005A2ZEP6AP7KM81       | Long             | EC               | CORP              | DE        |    317606 | NS      | $8971702.47   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR18, Class 1A3A                            | CUSIP: 92922F8M3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40520 | PA      | $38092.31     | 0.00%             | 2036-01-25      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Norsk Hydro ASA                                                             | Norsk Hydro ASA                                                                                        | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |    426738 | NS      | $3459927.80   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                               | Netflix, Inc.                                                                                          | CUSIP: 64110LAY2<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48125.00     | 0.00%             | 2025-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Archrock Partners LP                                                        | Archrock Partners LP                                                                                   | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2320000 | PA      | $2204000.00   | 0.02%             | 2028-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                                    | SBA Communications Corp.                                                                               | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1005000 | PA      | $851418.41    | 0.01%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Hopson Development Holdings Ltd.                                            | Hopson Development Holdings Ltd.                                                                       | CUSIP: N/A<br>LEI: 549300HYMKPTC1DTZS42       | Long             | DBT              | CORP              | BM        |    300000 | PA      | $284868.75    | 0.00%             | 2023-12-28      | Fixed         | 6.80%                 | Yes           |                  2 | On Loan: No      |
| Winnebago Industries, Inc.                                                  | Winnebago Industries, Inc.                                                                             | CUSIP: 974637AC4<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |    305000 | PA      | $293303.37    | 0.00%             | 2028-07-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                                              | Citizens Financial Group, Inc., Series B                                                               | CUSIP: 174610AP0<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   3001000 | PA      | $2879078.40   | 0.03%             | 2023-07-06      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                                                            | Novo Nordisk A/S, Class B                                                                              | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |    143084 | NS      | $19801377.16  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4450000 | PA      | $4231963.04   | 0.04%             | 2028-03-24      | Variable      | 3.53%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J14, Class A8                                                      | CUSIP: 12668AQ73<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    982667 | PA      | $650468.32    | 0.01%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Algonquin Power & Utilities Corp.                                           | Algonquin Power & Utilities Corp.                                                                      | CUSIP: 015857105<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EC               | CORP              | CA        |    214032 | NS      | $1560340.01   | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| MetLife Capital Trust IV                                                    | MetLife Capital Trust IV                                                                               | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7703000 | PA      | $8473284.67   | 0.08%             | 2037-12-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                                               | MHC Commercial Mortgage Trust, Series 2021-MHC, Class G                                                | CUSIP: 55316VAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14400000 | PA      | $13787510.40  | 0.13%             | 2038-04-15      | Floating      | 7.66%                 | Yes           |                  2 | On Loan: No      |
| American Tower Corp.                                                        | American Tower Corp.                                                                                   | CUSIP: 03027XBC3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    125000 | PA      | $102412.94    | 0.00%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| New Albertsons LP                                                           | New Albertsons LP                                                                                      | CUSIP: 013104AL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2108000 | PA      | $2192320.00   | 0.02%             | 2031-05-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | Clarios Global LP                                                                                      | CUSIP: 69867DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3520000 | PA      | $3496768.00   | 0.03%             | 2026-05-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205AT1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    220000 | PA      | $214500.00    | 0.00%             | 2026-04-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-6CB, Class 1A6                                                     | CUSIP: 12667F5H4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    265968 | PA      | $229706.19    | 0.00%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HP, Inc.                                                                    | HP, Inc.                                                                                               | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |     59399 | NS      | $1730886.86   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust, Series 2018-L1, Class E                                                | CUSIP: 61691QAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5486000 | PA      | $3470717.90   | 0.03%             | 2051-10-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Analog Devices, Inc.                                                        | Analog Devices, Inc.                                                                                   | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     90918 | NS      | $15589709.46  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications, Inc.                                                | Verizon Communications, Inc.                                                                           | CUSIP: 92343VCV4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140450.03    | 0.00%             | 2036-01-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| LEG Immobilien SE                                                           | LEG Immobilien SE                                                                                      | CUSIP: N/A<br>LEI: 391200SO40AKONBO0Z96       | Long             | EC               | CORP              | DE        |     60741 | NS      | $4748373.91   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                                            | Marriott Ownership Resorts, Inc.                                                                       | CUSIP: 57164PAF3<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |     36000 | PA      | $32490.00     | 0.00%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                                | Trivium Packaging Finance BV                                                                           | CUSIP: 89686QAB2<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   2181000 | PA      | $2097554.94   | 0.02%             | 2027-08-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: —       |
| UFC Holdings LLC                                                            | UFC Holdings LLC, 1st Lien Term Loan B-3                                                               | CUSIP: 90266UAJ2<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |    288509 | PA      | $286795.48    | 0.00%             | 2026-04-29      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2007-S1, Class 2A17                                                    | CUSIP: 46630RAW1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3663845 | PA      | $1033213.69   | 0.01%             | 2037-03-25      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61772BAA1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2478329.78   | 0.02%             | 2024-04-05      | Variable      | 0.73%                 | No            |                  2 | On Loan: No      |
| Iberdrola SA                                                                | Iberdrola SA                                                                                           | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |      7745 | NS      | $90862.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ritchie Bros Auctioneers, Inc.                                              | Ritchie Bros Auctioneers, Inc.                                                                         | CUSIP: 767744AA3<br>LEI: 5493002H8U24DJXQ4886 | Long             | DBT              | CORP              | CA        |   1064000 | PA      | $1050896.94   | 0.01%             | 2025-01-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Alcoa Nederland Holding BV                                                  | Alcoa Nederland Holding BV                                                                             | CUSIP: 013822AE1<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |   7080000 | PA      | $6999429.60   | 0.07%             | 2027-12-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2006-1, Class 2A1                                       | CUSIP: 59020U4S1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    692388 | PA      | $660590.43    | 0.01%             | 2036-02-25      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| Brightsphere Investment Group, Inc.                                         | Brightsphere Investment Group, Inc.                                                                    | CUSIP: 10948WAA1<br>LEI: 5493004FTLQNQTBOP608 | Long             | DBT              | CORP              | US        |    289000 | PA      | $266602.50    | 0.00%             | 2026-07-27      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2006-AF2, Class AF2                                     | CUSIP: 59023NAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    174547 | PA      | $84528.09     | 0.00%             | 2036-10-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Accton Technology Corp.                                                     | Accton Technology Corp.                                                                                | CUSIP: N/A<br>LEI: 529900M1YRZ0GWMDF920       | Long             | EC               | CORP              | TW        |    162000 | NS      | $1323909.11   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-KF40, Class B                                                        | CUSIP: 30306JAG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    978302 | PA      | $945711.99    | 0.01%             | 2027-11-25      | Floating      | 7.09%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Multi-Family Structured Credit Risk                                   | FHLMC, Multi-Family Structured Credit Risk, Series 2021-MN1, Class M1                                  | CUSIP: 35563FAA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    365520 | PA      | $345965.20    | 0.00%             | 2051-01-25      | Floating      | 6.31%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                          | Morgan Stanley Mortgage Loan Trust, Series 2004-8AR, Class 4A1                                         | CUSIP: 61748HEF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    347968 | PA      | $329544.00    | 0.00%             | 2034-10-25      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                                             | CUSIP: 45174HBD8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   6282954 | PA      | $5631097.52   | 0.05%             | 2027-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| DT Midstream, Inc.                                                          | DT Midstream, Inc.                                                                                     | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4535000 | PA      | $3979462.50   | 0.04%             | 2029-06-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   2796000 | PA      | $2807603.40   | 0.03%             | 2029-03-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565CD4<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    825000 | PA      | $784325.63    | 0.01%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Wesco Aircraft Holdings, Inc.                                               | Wesco Aircraft Holdings, Inc.                                                                          | CUSIP: 97789LAB2<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |  10989000 | PA      | $7417575.00   | 0.07%             | 2026-11-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: —       |
| Upstart Pass-Through Trust                                                  | Upstart Pass-Through Trust, Series 2022-PT4, Class A                                                   | CUSIP: 91683RAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3928276 | PA      | $3991089.27   | 0.04%             | 2030-05-20      | Variable      | 16.19%                | Yes           |                  3 | On Loan: No      |
| Securitized Asset-Backed Receivables LLC Trust                              | Securitized Asset-Backed Receivables LLC Trust, Series 2005-OP1, Class M2                              | CUSIP: 81375WCT1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    363814 | PA      | $335958.47    | 0.00%             | 2035-01-25      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Frontier Real Estate Investment Corp.                                       | Frontier Real Estate Investment Corp.                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       624 | NS      | $2406260.19   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Golden Eagle Retail Group Ltd.                                              | Golden Eagle Retail Group Ltd.                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | KY        |   2500000 | PA      | $2412968.75   | 0.02%             | 2023-05-21      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Arcosa, Inc.                                                                | Arcosa, Inc.                                                                                           | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    408000 | PA      | $364868.70    | 0.00%             | 2029-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Antero Resources Corp.                                                      | Antero Resources Corp.                                                                                 | CUSIP: 03674XAQ9<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |    739000 | PA      | $755701.58    | 0.01%             | 2029-02-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| JSW Infrastructure Ltd.                                                     | JSW Infrastructure Ltd.                                                                                | CUSIP: N/A<br>LEI: 3358003E3YFK92C9WX80       | Long             | DBT              | CORP              | IN        |   1200000 | PA      | $1055850.00   | 0.01%             | 2029-01-21      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| National Grid plc                                                           | National Grid plc                                                                                      | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |    218793 | NS      | $2781495.31   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                                      | Mineral Resources Ltd.                                                                                 | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    750000 | PA      | $774840.00    | 0.01%             | 2030-05-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA ACES, Series 2019-M21, Class X2                                                                   | CUSIP: 3136B6XA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5709268 | PA      | $424852.87    | 0.00%             | 2031-02-25      | Variable      | 1.30%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-126, Class CS                                                                        | CUSIP: 38380YL94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3099020 | PA      | $298478.08    | 0.00%             | 2048-09-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Direct Line Insurance Group plc                                             | Direct Line Insurance Group plc                                                                        | CUSIP: N/A<br>LEI: 213800FF2R23ALJQOP04       | Long             | EC               | CORP              | GB        |   1544503 | NS      | $3386548.89   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Adjustable Rate Mortgage Trust                                              | Adjustable Rate Mortgage Trust, Series 2004-2, Class 6A1                                               | CUSIP: 007036BU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    604227 | PA      | $592076.78    | 0.01%             | 2035-02-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Roche Holding AG                                                            | Roche Holding AG                                                                                       | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |     67743 | NS      | $21147359.57  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                                                  | Allianz SE (Registered)                                                                                | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |    118907 | NS      | $28432313.06  | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Triton Water Holdings, Inc.                                                 | Triton Water Holdings, Inc., 1st Lien Term Loan B                                                      | CUSIP: 89678QAB2<br>LEI: 5493005IYCEL7QJFZZ63 | Long             | LON              | CORP              | US        |   4022783 | PA      | $3824178.05   | 0.04%             | 2028-03-31      | Variable      | 8.23%                 | No            |                  2 | On Loan: No      |
| Chase Funding Trust                                                         | Chase Funding Trust, Series 2004-1, Class 1M1                                                          | CUSIP: 161546HV1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    840570 | PA      | $798719.29    | 0.01%             | 2033-05-25      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| RFMSI Trust                                                                 | RFMSI Trust, Series 2004-S9, Class 2A1                                                                 | CUSIP: 76111XRG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       199 | PA      | $221.18       | 0.00%             | 2019-12-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| President Chain Store Corp.                                                 | President Chain Store Corp.                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    890000 | NS      | $8016758.55   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| PrimeSource                                                                 | PrimeSource, 1st Lien Term Loan B                                                                      | CUSIP: 70082HAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2575435 | PA      | $2333627.41   | 0.02%             | 2027-12-28      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Yankuang Group Cayman Ltd.                                                  | Yankuang Group Cayman Ltd.                                                                             | CUSIP: N/A<br>LEI: 549300TM4QBVI14AXM65       | Long             | DBT              | CORP              | KY        |    250000 | PA      | $246609.38    | 0.00%             | 2023-07-16      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp, Series V                                                                                   | CUSIP: 91159HHN3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4217474.79   | 0.04%             | 2026-07-22      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Telefonica Deutschland Holding AG                                           | Telefonica Deutschland Holding AG                                                                      | CUSIP: N/A<br>LEI: 391200ECRPJ3SWQJUM30       | Long             | EC               | CORP              | DE        |   2807709 | NS      | $8269751.15   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| MTU Aero Engines AG                                                         | MTU Aero Engines AG, Series MTX                                                                        | CUSIP: N/A<br>LEI: 529900807L67JY81RD65       | Long             | DBT              | CORP              | DE        |   1000000 | PA      | $1022345.00   | 0.01%             | 2027-03-18      | Fixed         | 0.05%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325CX1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    400000 | PA      | $381950.00    | 0.00%             | 2026-01-28      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Bank of Nova Scotia                                                         | Bank of Nova Scotia (The)                                                                              | CUSIP: 06417MWU5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | STIV             | CORP              | CA        |    325000 | PA      | $325183.31    | 0.00%             | 2023-03-24      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Coty, Inc.                                                                  | Coty, Inc.                                                                                             | CUSIP: 222070AB0<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |    960000 | PA      | $946368.00    | 0.01%             | 2026-04-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: —       |
| Endo Dac                                                                    | Endo Dac                                                                                               | CUSIP: 29273DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3857000 | PA      | $588192.50    | 0.01%             | 2027-07-31      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: —       |
| American Electric Power Co., Inc.                                           | American Electric Power Co., Inc.                                                                      | CUSIP: 025537AW1<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     40000 | PA      | $42990.68     | 0.00%             | 2032-11-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2022-1, Class B2                                          | CUSIP: 24382JAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5639881 | PA      | $3953848.73   | 0.04%             | 2067-01-25      | Variable      | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Kroger Co. (The)                                                            | Kroger Co. (The)                                                                                       | CUSIP: 501044DQ1<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    176000 | PA      | $140487.08    | 0.00%             | 2031-01-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: —       |
| DirectV Financing LLC                                                       | DirectV Financing LLC, 1st Lien Term Loan                                                              | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8141583 | PA      | $7994872.00   | 0.08%             | 2027-08-02      | Variable      | 9.57%                 | No            |                  2 | On Loan: No      |
| RKPF Overseas Ltd.                                                          | RKPF Overseas Ltd.                                                                                     | CUSIP: N/A<br>LEI: 254900LKOLISWWIE7W36       | Long             | DBT              | CORP              | VG        |   1900000 | PA      | $1527125.00   | 0.01%             | 2026-01-12      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Huayu Automotive Systems Co. Ltd.                                           | Huayu Automotive Systems Co. Ltd., Class A                                                             | CUSIP: N/A<br>LEI: 3003001J2BNVV78BOT83       | Long             | EC               | CORP              | CN        |   2218493 | NS      | $6004979.92   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Coty, Inc.                                                                  | Coty, Inc.                                                                                             | CUSIP: 222070AE4<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |   4103000 | PA      | $3928622.50   | 0.04%             | 2026-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Endo Dac                                                                    | Endo Dac                                                                                               | CUSIP: 29273DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    925000 | PA      | $786250.00    | 0.01%             | 2024-10-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Bidvest Group Ltd. (The)                                                    | Bidvest Group Ltd. (The)                                                                               | CUSIP: N/A<br>LEI: 5299002ARE4TRMIRGM72       | Long             | EC               | CORP              | ZA        |    424983 | NS      | $5485211.62   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Knight InfoServ LLC                                                   | Black Knight InfoServ LLC                                                                              | CUSIP: 092174AA9<br>LEI: 549300H5PS5C68DAUX66 | Long             | DBT              | CORP              | US        |   1817000 | PA      | $1616330.52   | 0.02%             | 2028-09-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Aker BP ASA                                                                 | Aker BP ASA                                                                                            | CUSIP: N/A<br>LEI: 549300NFTY73920OYK69       | Long             | EC               | CORP              | NO        |     45669 | NS      | $1391158.17   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CWABS Asset-Backed Certificates Trust                                       | CWABS Asset-Backed Certificates Trust, Series 2005-11, Class AF6                                       | CUSIP: 126670CL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     64895 | PA      | $62733.74     | 0.00%             | 2036-02-25      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| Sienna Senior Living, Inc.                                                  | Sienna Senior Living, Inc.                                                                             | CUSIP: 82621K102<br>LEI: 549300K3HNLZV4V5LL42 | Long             | EC               | CORP              | CA        |    157436 | NS      | $1443552.82   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprint Capital Corp.                                                        | Sprint Capital Corp.                                                                                   | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |  12604000 | PA      | $15565940.00  | 0.15%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Rexford Industrial Realty, Inc.                                             | Rexford Industrial Realty, Inc.                                                                        | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     73515 | NS      | $4665997.05   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NetLink NBN Trust                                                           | NETLINK NBN TRUST                                                                                      | CUSIP: N/A<br>LEI: 25490032IBVZHHXJIM98       | Long             | EC               | CORP              | SG        |   3540900 | NS      | $2361480.63   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Huarong Finance 2019 Co. Ltd.                                               | Huarong Finance 2019 Co. Ltd.                                                                          | CUSIP: N/A<br>LEI: 549300M6T6OW4AGYHK10       | Long             | DBT              | CORP              | VG        |    300000 | PA      | $280462.50    | 0.00%             | 2024-11-13      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    850000 | PA      | $646000.00    | 0.01%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Crestwood Midstream Partners LP                                             | Crestwood Midstream Partners LP                                                                        | CUSIP: 226373AT5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1051531.25   | 0.01%             | 2031-02-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123CB4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    510000 | PA      | $321937.50    | 0.00%             | 2043-04-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Globe Telecom, Inc.                                                         | Globe Telecom, Inc.                                                                                    | CUSIP: N/A<br>LEI: 254900GPWI1816YIM923       | Long             | DBT              | CORP              | PH        |   1700000 | PA      | $1561662.50   | 0.02%             | 2026-08-02      | Variable      | 4.20%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QBH4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    350000 | PA      | $345975.00    | 0.00%             | 2024-01-18      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| First Student Bidco, Inc.                                                   | First Student Bidco, Inc., 1st Lien Term Loan B                                                        | CUSIP: 33718FAD2<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |   4785207 | PA      | $4512067.45   | 0.04%             | 2028-07-21      | Variable      | 7.73%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                                                         | DT Auto Owner Trust, Series 2021-3A, Class D                                                           | CUSIP: 23344QAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1710000 | PA      | $1546572.74   | 0.01%             | 2027-05-17      | Fixed         | 1.31%                 | Yes           |                  2 | On Loan: No      |
| AMC Networks, Inc.                                                          | AMC Networks, Inc.                                                                                     | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    257000 | PA      | $158376.25    | 0.00%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325BK0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1000000 | PA      | $970500.00    | 0.01%             | 2037-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DPL, Inc.                                                                   | DPL, Inc.                                                                                              | CUSIP: 233293AR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1136000 | PA      | $1081600.24   | 0.01%             | 2025-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PRPM LLC                                                                    | PRPM LLC, Series 2021-10, Class A2                                                                     | CUSIP: 69360HAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9000000 | PA      | $8034215.40   | 0.08%             | 2026-10-25      | Variable      | 4.83%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                           | Enterprise Products Operating LLC, Series E                                                            | CUSIP: 29379VBN2<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   4380000 | PA      | $3823481.62   | 0.04%             | 2077-08-16      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   4852000 | PA      | $3118962.64   | 0.03%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |   1000000 | PA      | $912500.00    | 0.01%             | 2025-11-21      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| First Student Bidco, Inc.                                                   | First Student Bidco, Inc., Term Loan B                                                                 | CUSIP: 33718FAE0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3936436 | PA      | $3792756.44   | 0.04%             | 2028-07-21      | Variable      | 8.68%                 | No            |                  2 | On Loan: No      |
| Vale Overseas Ltd.                                                          | Vale Overseas Ltd.                                                                                     | CUSIP: 91911TAQ6<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |     57000 | PA      | $50747.10     | 0.00%             | 2030-07-08      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co. LLC                                             | Nissan Motor Acceptance Co. LLC                                                                        | CUSIP: 65480CAD7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    122000 | PA      | $99028.77     | 0.00%             | 2028-09-15      | Fixed         | 2.45%                 | Yes           |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                                                 | Cheniere Energy Partners LP                                                                            | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   4325000 | PA      | $4057369.00   | 0.04%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    800000 | PA      | $246400.00    | 0.00%             | 2035-07-09      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2013-136, Class SB                                                                 | CUSIP: 3136AHWH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2735189 | PA      | $274672.08    | 0.00%             | 2044-01-25      | Floating      | 1.39%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc., Series G                                                                     | CUSIP: 156686AM9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    799000 | PA      | $647190.00    | 0.01%             | 2028-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Weekley Homes LLC                                                           | Weekley Homes LLC                                                                                      | CUSIP: 948565AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    599000 | PA      | $521279.75    | 0.01%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2290911.67   | 0.02%             | 2028-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| DNB Bank ASA                                                                | DNB Bank ASA                                                                                           | CUSIP: 23329PAF7<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |   3028000 | PA      | $2701369.52   | 0.03%             | 2026-09-16      | Variable      | 1.13%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Multi-Family Structured Credit Risk                                   | FHLMC, Multi-Family Structured Credit Risk, Series 2021-MN1, Class B1                                  | CUSIP: 35563FAC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2649545 | PA      | $2505723.19   | 0.02%             | 2051-01-25      | Floating      | 12.06%                | Yes           |                  2 | On Loan: No      |
| Oil and Gas Holding Co. BSCC (The)                                          | Oil and Gas Holding Co. BSCC (The)                                                                     | CUSIP: 67778NAA6<br>LEI: 549300OBH16L6TS6IW50 | Long             | DBT              | CORP              | BH        |   1150000 | PA      | $1192621.88   | 0.01%             | 2027-10-25      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2004-AR10, Class A1B                             | CUSIP: 92922FWU8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    422746 | PA      | $388204.34    | 0.00%             | 2044-07-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | DBT              | CORP              | CH        |   1990000 | PA      | $1973682.00   | 0.02%             | 2025-08-07      | Variable      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                                               | Organon & Co.                                                                                          | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7563000 | PA      | $6840355.35   | 0.07%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Southern Co. Gas Capital Corp.                                              | Southern Co. Gas Capital Corp.                                                                         | CUSIP: 8426EPAF5<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20396.56     | 0.00%             | 2032-09-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Arconic Corp.                                                               | Arconic Corp.                                                                                          | CUSIP: 03966VAB3<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |   2269000 | PA      | $2246483.62   | 0.02%             | 2025-05-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: —       |
| Republic of El Salvador                                                     | Republic of El Salvador                                                                                | CUSIP: N/A<br>LEI: 529900AKDMUSFSDOM949       | Long             | DBT              | NUSS              | SV        |    295000 | PA      | $161660.00    | 0.00%             | 2027-01-18      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| KDDI Corp.                                                                  | KDDI Corp.                                                                                             | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |     93700 | NS      | $2927511.67   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    850000 | PA      | $587562.50    | 0.01%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Yum China Holdings, Inc.                                                    | Yum China Holdings, Inc.                                                                               | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |     51450 | NS      | $3117252.20   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-4, Class CB7             | CUSIP: 9393366B4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    326373 | PA      | $299472.07    | 0.00%             | 2035-06-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Expedia Group, Inc.                                                         | Expedia Group, Inc.                                                                                    | CUSIP: 30212PBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $459550.00    | 0.00%             | 2026-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Thaioil Treasury Center Co. Ltd.                                            | Thaioil Treasury Center Co. Ltd.                                                                       | CUSIP: 88323AAB8<br>LEI: 549300NH03B9E8VGJR89 | Long             | DBT              | CORP              | TH        |    500000 | PA      | $402593.75    | 0.00%             | 2043-01-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                     | Level 3 Financing, Inc.                                                                                | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1349000 | PA      | $1003656.00   | 0.01%             | 2029-01-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Chevron Corp.                                                               | Chevron Corp.                                                                                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74733 | NS      | $13005036.66  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 6174468J1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   5160000 | PA      | $4982312.97   | 0.05%             | 2025-07-22      | Variable      | 2.72%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K071, Class X3                        | CUSIP: 3137FCLG7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5000000 | PA      | $399547.50    | 0.00%             | 2045-11-25      | Variable      | 2.01%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3816000 | PA      | $3529800.00   | 0.03%             | 2029-06-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: —       |
| WP Carey, Inc.                                                              | WP Carey, Inc.                                                                                         | CUSIP: 92936UAG4<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |    150000 | PA      | $125773.70    | 0.00%             | 2031-02-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397XU2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   6025000 | PA      | $5782975.75   | 0.06%             | 2026-01-08      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83367TBG3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   4100000 | PA      | $4068744.47   | 0.04%             | 2024-01-17      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series P                                                                              | CUSIP: 172967JM4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   7163000 | PA      | $6980517.49   | 0.07%             | 2025-05-15      | Variable      | 5.95%                 | No            |                  2 | On Loan: —       |
| Turkiye Ihracat Kredi Bankasi A/S                                           | Turkiye Ihracat Kredi Bankasi A/S                                                                      | CUSIP: 90015LAG2<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              | NUSS              | TR        |    617000 | PA      | $617000.00    | 0.01%             | 2026-01-31      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                                | Antero Midstream Partners LP                                                                           | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4287000 | PA      | $3981551.25   | 0.04%             | 2029-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 17327CAN3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2111572.08   | 0.02%             | 2026-01-25      | Variable      | 2.01%                 | No            |                  2 | On Loan: No      |
| Vivendi SE                                                                  | Vivendi SE                                                                                             | CUSIP: N/A<br>LEI: 969500FU4DRAEVJW7U54       | Long             | EC               | CORP              | FR        |    539396 | NS      | $5792992.49   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2012-35, Class SN                                                                  | CUSIP: 3136A5LX2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2586202 | PA      | $321146.61    | 0.00%             | 2042-04-25      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                                   | EQM Midstream Partners LP                                                                              | CUSIP: 26885BAN0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   1990000 | PA      | $1987512.50   | 0.02%             | 2030-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                       | OneMain Finance Corp.                                                                                  | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1217000 | PA      | $1058444.54   | 0.01%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Keyera Corp.                                                                | Keyera Corp.                                                                                           | CUSIP: 493271100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    124670 | NS      | $2843737.18   | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Axalta Coating Systems US Holdings, Inc.                                    | Axalta Coating Systems US Holdings, Inc., 1st Lien Term Loan B                                         | CUSIP: 90347BAJ7<br>LEI: 549300NZ43V4QV4UGN28 | Long             | LON              | CORP              | US        |    525000 | PA      | $526968.75    | 0.01%             | 2029-12-20      | Variable      | 7.51%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2012-C5, Class G                            | CUSIP: 61761AAN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1326372.00   | 0.01%             | 2045-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| TietoEVRY OYJ                                                               | TietoEVRY OYJ                                                                                          | CUSIP: N/A<br>LEI: 549300EW2KM4KROKQV31       | Long             | EC               | CORP              | FI        |     73361 | NS      | $2234139.30   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-KL1E, Class BE                                                       | CUSIP: 35708RAN1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    186318 | PA      | $157504.11    | 0.00%             | 2027-02-25      | Variable      | 3.91%                 | Yes           |                  2 | On Loan: No      |
| Glencore Funding LLC                                                        | Glencore Funding LLC                                                                                   | CUSIP: 37790BP88<br>LEI: 213800STG1QDNBY87K49 | Long             | STIV             | CORP              | US        |    690000 | PA      | $689275.65    | 0.01%             | 2023-02-08      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Amgen, Inc.                                                                 | Amgen, Inc.                                                                                            | CUSIP: 031162CZ1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    298000 | PA      | $241092.65    | 0.00%             | 2032-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: 22535WAB3<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   2180000 | PA      | $2115569.51   | 0.02%             | 2027-01-10      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KF59, Class B                                                        | CUSIP: 30297XAG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1833345 | PA      | $1738147.66   | 0.02%             | 2029-02-25      | Floating      | 6.74%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust I LLC                                              | Angel Oak Mortgage Trust I LLC, Series 2019-2, Class B1                                                | CUSIP: 03463WAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3845160.80   | 0.04%             | 2049-03-25      | Variable      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| Supernus Pharmaceuticals, Inc.                                              | Supernus Pharmaceuticals, Inc.                                                                         | CUSIP: 868459AD0<br>LEI: 549300GRM36VBKISYJ58 | Long             | DBT              | CORP              | US        |    636000 | PA      | $628050.00    | 0.01%             | 2023-04-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Woori Bank                                                                  | Woori Bank                                                                                             | CUSIP: N/A<br>LEI: 549300VUVMRL6RE7R376       | Long             | DBT              | CORP              | KR        |    250000 | PA      | $239187.50    | 0.00%             | 2024-10-04      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| General Electric Co.                                                        | General Electric Co., Series D                                                                         | CUSIP: 369604BQ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |   4420000 | PA      | $4404530.00   | 0.04%             | 2023-03-15      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| SK Telecom Co. Ltd.                                                         | SK Telecom Co. Ltd.                                                                                    | CUSIP: 78440P306<br>LEI: 9884003WEA1PHW006037 | Long             | EC               | CORP              | KR        |     22198 | NS      | $470818.87    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| 7-Eleven, Inc.                                                              | 7-Eleven, Inc.                                                                                         | CUSIP: 817826AE0<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |    174000 | PA      | $138766.59    | 0.00%             | 2031-02-10      | Fixed         | 1.80%                 | Yes           |                  2 | On Loan: No      |
| Seagate Technology Holdings plc                                             | Seagate Technology Holdings plc                                                                        | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | IE        |    186391 | NS      | $12633581.98  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Exeter Automobile Receivables Trust                                         | Exeter Automobile Receivables Trust, Series 2021-2A, Class E                                           | CUSIP: 30165XAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2750000 | PA      | $2462813.38   | 0.02%             | 2028-07-17      | Fixed         | 2.90%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Home Equity Asset-Backed Securities Trust                       | Wells Fargo Home Equity Asset-Backed Securities Trust, Series 2004-2, Class M8A                        | CUSIP: 94980GAV3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    289567 | PA      | $293552.18    | 0.00%             | 2034-10-25      | Floating      | 9.01%                 | Yes           |                  2 | On Loan: No      |
| Chong Hing Bank Ltd.                                                        | Chong Hing Bank Ltd.                                                                                   | CUSIP: N/A<br>LEI: 549300UE27D3HDTZET39       | Long             | DBT              | CORP              | HK        |    950000 | PA      | $929100.00    | 0.01%             | 2024-07-15      | Variable      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| AHP Health Partners, Inc.                                                   | AHP Health Partners, Inc., 1st Lien Term Loan B                                                        | CUSIP: 00130MAJ3<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | LON              | CORP              | US        |    423927 | PA      | $420005.45    | 0.00%             | 2028-08-24      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                                                           | Transcanada Trust                                                                                      | CUSIP: 89356BAE8<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   9787000 | PA      | $8832243.60   | 0.08%             | 2079-09-15      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                                                  | PG&E Corp.                                                                                             | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   5679000 | PA      | $5321506.95   | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                                          | Cinemark USA, Inc.                                                                                     | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |   2080000 | PA      | $1704934.40   | 0.02%             | 2028-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| Zoetis, Inc.                                                                | Zoetis, Inc.                                                                                           | CUSIP: 98978VAB9<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    229000 | PA      | $229000.00    | 0.00%             | 2023-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DHT Holdings, Inc.                                                          | DHT Holdings, Inc.                                                                                     | CUSIP: N/A<br>LEI: 549300SMD6IVZYT74K40       | Long             | EC               | CORP              | MH        |    191269 | NS      | $1639175.33   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Holdings                                                                | CVS Holdings, 1st Lien Term Loan                                                                       | CUSIP: 58401DAC8<br>LEI: 549300660CLPRNK19Z91 | Long             | LON              | CORP              | US        |    582670 | PA      | $521553.60    | 0.01%             | 2026-08-31      | Variable      | 8.82%                 | No            |                  2 | On Loan: No      |
| Target Corp.                                                                | Target Corp.                                                                                           | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     56197 | NS      | $9673751.58   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment, Inc.                                             | Live Nation Entertainment, Inc.                                                                        | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   1403000 | PA      | $1248231.56   | 0.01%             | 2028-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Alt-A Securities, Inc. Mortgage Loan Trust                         | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, Series 2005-1, Class 2A1                          | CUSIP: 251510CX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     17848 | PA      | $17495.38     | 0.00%             | 2020-02-25      | Variable      | 4.29%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                                | Avolon Holdings Funding Ltd.                                                                           | CUSIP: 05401AAF8<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   2265000 | PA      | $2194815.55   | 0.02%             | 2024-07-01      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| Ingram Micro, Inc.                                                          | Ingram Micro, Inc., 1st Lien Term Loan B                                                               | CUSIP: 45258FAB6<br>LEI: 549300KJMEWPKRQZHX63 | Long             | LON              | CORP              | US        |    367015 | PA      | $365333.87    | 0.00%             | 2028-06-30      | Variable      | 8.23%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                                       | United Airlines, Inc.                                                                                  | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   4412000 | PA      | $4188465.58   | 0.04%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K068, Class X3                        | CUSIP: 3137FBC20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11050000 | PA      | $896088.70    | 0.01%             | 2044-10-25      | Variable      | 2.06%                 | No            |                  2 | On Loan: No      |
| NGL Energy Operating LLC                                                    | NGL Energy Operating LLC                                                                               | CUSIP: 62922LAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2177000 | PA      | $2067408.47   | 0.02%             | 2026-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series KC04, Class X1                        | CUSIP: 3137FMCG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14856719 | PA      | $404686.62    | 0.00%             | 2026-12-25      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| Campbell Soup Co.                                                           | Campbell Soup Co.                                                                                      | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |    136958 | NS      | $7112228.94   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co., Inc.                                           | American Electric Power Co., Inc.                                                                      | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   5173000 | PA      | $4436569.60   | 0.04%             | 2062-02-15      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                                            | Skandinaviska Enskilda Banken AB, Class A                                                              | CUSIP: N/A<br>LEI: F3JS33DEI6XQ4ZBPTN86       | Long             | EC               | CORP              | SE        |    240633 | NS      | $2913057.39   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Corp.                                                          | State Street Corp.                                                                                     | CUSIP: 857477BS1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    290000 | PA      | $266320.67    | 0.00%             | 2028-02-07      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| TransAlta Renewables, Inc.                                                  | TransAlta Renewables, Inc.                                                                             | CUSIP: 893463109<br>LEI: 529900U45A1JKZFABZ35 | Long             | EC               | CORP              | CA        |    194614 | NS      | $1790293.76   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PRPM LLC                                                                    | PRPM LLC, Series 2021-8, Class A2                                                                      | CUSIP: 69360MAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4293751.50   | 0.04%             | 2026-09-25      | Variable      | 3.60%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), Escrow                                                                              | CUSIP: 428ESCAD9<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |   5450000 | PA      | $408750.00    | 0.00%             | 2028-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Greentown China Holdings Ltd.                                               | Greentown China Holdings Ltd.                                                                          | CUSIP: N/A<br>LEI: 529900BLBC6YDNWS8530       | Long             | DBT              | CORP              | KY        |    600000 | PA      | $552487.50    | 0.01%             | 2025-07-13      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| ConocoPhillips                                                              | ConocoPhillips                                                                                         | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     50526 | NS      | $6157603.62   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO Distribution, Inc.                                                    | WESCO Distribution, Inc.                                                                               | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   5478000 | PA      | $5565648.00   | 0.05%             | 2025-06-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series W                                                                              | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5409000 | PA      | $5004089.51   | 0.05%             | 2025-12-10      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K093, Class X3                        | CUSIP: 3137FMCU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  15000000 | PA      | $1642450.50   | 0.02%             | 2047-05-25      | Variable      | 2.21%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                                            | Sabre GLBL, Inc.                                                                                       | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |   1372000 | PA      | $1407610.26   | 0.01%             | 2025-04-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2252000 | PA      | $2137711.00   | 0.02%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    550000 | PA      | $439120.00    | 0.00%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| American Electric Power Co., Inc.                                           | American Electric Power Co., Inc.                                                                      | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     36097 | NS      | $3391674.12   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty LP                                                            | Kilroy Realty LP                                                                                       | CUSIP: 49427RAM4<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    790000 | PA      | $762979.64    | 0.01%             | 2024-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                        | Glencore Funding LLC                                                                                   | CUSIP: 378272BG2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     63000 | PA      | $52577.28     | 0.00%             | 2031-09-23      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                          | Crown Castle, Inc.                                                                                     | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     13925 | NS      | $2062431.75   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K729, Class X3                        | CUSIP: 3137FCM76<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  37636681 | PA      | $1091640.64   | 0.01%             | 2044-11-25      | Variable      | 1.97%                 | No            |                  2 | On Loan: No      |
| Comforia Residential REIT, Inc.                                             | Comforia Residential REIT, Inc.                                                                        | CUSIP: N/A<br>LEI: 353800BJ2SV3UPG9JU05       | Long             | EC               | CORP              | JP        |       736 | NS      | $1635356.39   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trust                                             | CSAIL Commercial Mortgage Trust, Series 2015-C2, Class B                                               | CUSIP: 12634NAY4<br>LEI: 549300D5DIOOMKWXVZ20 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $902965.30    | 0.01%             | 2057-06-15      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                         | Exeter Automobile Receivables Trust, Series 2022-6A, Class D                                           | CUSIP: 30168AAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    804000 | PA      | $846113.60    | 0.01%             | 2029-04-06      | Fixed         | 8.03%                 | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                                     | Fremont Home Loan Trust, Series 2002-1, Class M1                                                       | CUSIP: 35729PAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    599591 | PA      | $609035.70    | 0.01%             | 2033-08-25      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, STRIPS, Series 336, Class S1                                                                    | CUSIP: 31325VK29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1572338 | PA      | $164092.97    | 0.00%             | 2044-08-15      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| ESR Kendall Square REIT Co. Ltd.                                            | ESR Kendall Square REIT Co. Ltd.                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |    256623 | NS      | $855737.39    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| E.ON SE                                                                     | E.ON SE                                                                                                | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |    259908 | NS      | $2833752.94   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                                | Antero Midstream Partners LP                                                                           | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2990000 | PA      | $2859187.50   | 0.03%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-21CB, Class A17                                                    | CUSIP: 12667GKS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2171836 | PA      | $1756152.45   | 0.02%             | 2035-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Kingdom of Morocco                                                          | Kingdom of Morocco                                                                                     | CUSIP: 617726AM6<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    650000 | PA      | $443625.00    | 0.00%             | 2050-12-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Griffon Corp.                                                               | Griffon Corp., 1st Lien Term Loan B                                                                    | CUSIP: 39843GAJ2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    473566 | PA      | $470605.85    | 0.00%             | 2029-01-24      | Variable      | 7.01%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co., Series L                                                                            | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      1470 | NS      | $1849245.30   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4425, Class SA                                                                    | CUSIP: 3137BG4U0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2923774 | PA      | $351112.51    | 0.00%             | 2045-01-15      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                                           | Yum! Brands, Inc.                                                                                      | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   1759000 | PA      | $1645104.75   | 0.02%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2005-7, Class 4A7                                                | CUSIP: 05946XV59<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40934 | PA      | $38430.71     | 0.00%             | 2035-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2012-89                                                                                   | CUSIP: 38378BXV6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6538570 | PA      | $7320.58      | 0.00%             | 2053-12-16      | Variable      | 0.14%                 | No            |                  2 | On Loan: No      |
| Nielsen Holdings plc                                                        | Nielsen Holdings plc, Term Loan B-3                                                                    | CUSIP: 45674PAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    382207 | PA      | $337775.80    | 0.00%             | 2028-03-06      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| RealPage, Inc.                                                              | RealPage, Inc., 1st Lien Term Loan B                                                                   | CUSIP: 75605VAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    538188 | PA      | $524130.04    | 0.01%             | 2028-04-24      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Southern Copper Corp.                                                       | Southern Copper Corp.                                                                                  | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |    203292 | NS      | $15289591.32  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Gray Television, Inc.                                                       | Gray Television, Inc.                                                                                  | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   2925000 | PA      | $2157187.50   | 0.02%             | 2030-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3042000 | PA      | $3266347.50   | 0.03%             | 2027-11-22      | Variable      | 9.38%                 | Yes           |                  2 | On Loan: No      |
| ME Funding LLC                                                              | ME Funding LLC, Series 2019-1, Class A2                                                                | CUSIP: 55282GAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2370375 | PA      | $2302544.35   | 0.02%             | 2049-07-30      | Fixed         | 6.45%                 | Yes           |                  2 | On Loan: No      |
| Audacy Capital Corp.                                                        | Audacy Capital Corp.                                                                                   | CUSIP: 29365DAA7<br>LEI: 549300S5JUSXRHNCHD80 | Long             | DBT              | CORP              | US        |   4439000 | PA      | $732361.98    | 0.01%             | 2027-05-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                       | Alexandria Real Estate Equities, Inc.                                                                  | CUSIP: 015271AT6<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |     80000 | PA      | $70112.46     | 0.00%             | 2029-12-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                                             | Sinclair Television Group, Inc.                                                                        | CUSIP: 829259BA7<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |   2625000 | PA      | $2086875.00   | 0.02%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Shell plc                                                                   | Shell plc                                                                                              | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |    480046 | NS      | $14093089.92  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                                         | Rocket Mortgage LLC                                                                                    | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    466000 | PA      | $369556.64    | 0.00%             | 2033-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Berry Global, Inc.                                                          | Berry Global, Inc.                                                                                     | CUSIP: 085770AA3<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3409000.00   | 0.03%             | 2026-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-25CB, Class A1                                                     | CUSIP: 12667FWJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2925354 | PA      | $2561783.13   | 0.02%             | 2034-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Home Equity Asset-Backed Securities Trust                       | Wells Fargo Home Equity Asset-Backed Securities Trust, Series 2004-2, Class M8B                        | CUSIP: 94980GBJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    289567 | PA      | $259168.66    | 0.00%             | 2034-10-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Rubis SCA                                                                   | Rubis SCA                                                                                              | CUSIP: N/A<br>LEI: 969500MGFIKUGLTC9742       | Long             | EC               | CORP              | FR        |     96793 | NS      | $2708780.90   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Entegris, Inc.                                                              | Entegris, Inc.                                                                                         | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   2091000 | PA      | $1892355.00   | 0.02%             | 2028-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), 1st Lien Term Loan B                                                                | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |    669267 | PA      | $665766.53    | 0.01%             | 2028-06-30      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc.                                                                               | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1149975.00   | 0.01%             | 2029-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Krung Thai Bank PCL                                                         | Krung Thai Bank PCL                                                                                    | CUSIP: N/A<br>LEI: 54930007ZQMYCRFQGE36       | Long             | DBT              | CORP              | TH        |   2700000 | PA      | $2479443.75   | 0.02%             | 2026-03-25      | Variable      | 4.40%                 | Yes           |                  2 | On Loan: No      |
| RP Escrow Issuer LLC                                                        | RP Escrow Issuer LLC                                                                                   | CUSIP: 74969PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1852000 | PA      | $1511232.00   | 0.01%             | 2025-12-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| St. George's University Scholastic Services LLC                             | St. George's University Scholastic Services LLC, 1st Lien Term Loan B                                  | CUSIP: 78957LAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    527285 | PA      | $522934.85    | 0.01%             | 2029-02-10      | Variable      | 7.79%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-NC8, Class M3                                    | CUSIP: 61744CHR0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    280325 | PA      | $276013.26    | 0.00%             | 2034-09-25      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                                     | Santander Bank Auto Credit-Linked Notes, Series 2022-C, Class C                                        | CUSIP: 80290CBG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    479010 | PA      | $479200.50    | 0.00%             | 2032-12-15      | Fixed         | 6.99%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    600000 | PA      | $495750.00    | 0.00%             | 2026-02-16      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Option Care Health, Inc.                                                    | Option Care Health, Inc., 1st Lien Term Loan B                                                         | CUSIP: 68404YAB0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | LON              | CORP              | US        |    603900 | PA      | $603447.08    | 0.01%             | 2028-10-27      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Sempra Energy                                                               | Sempra Energy                                                                                          | CUSIP: 816851604<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EP               | CORP              | US        |     17825 | NS      | $439921.00    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-J2, Class 1A1                                             | CUSIP: 126694G93<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     85833 | PA      | $53328.12     | 0.00%             | 2036-04-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| L3Harris Technologies, Inc.                                                 | L3Harris Technologies, Inc.                                                                            | CUSIP: 502431AN9<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    185000 | PA      | $148533.35    | 0.00%             | 2031-01-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                                             | Air Lease Corp.                                                                                        | CUSIP: 00914AAB8<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67075.24     | 0.00%             | 2026-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partners LLC                                        | Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A2                                        | CUSIP: 74140QAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4392213.50   | 0.04%             | 2061-02-25      | Variable      | 3.60%                 | Yes           |                  2 | On Loan: No      |
| Park Hotels & Resorts, Inc.                                                 | Park Hotels & Resorts, Inc.                                                                            | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |    160710 | NS      | $2364044.10   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA, Inc.                                                                   | HCA, Inc.                                                                                              | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   5926000 | PA      | $5311639.02   | 0.05%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-6, Class CS                                                                          | CUSIP: 38380U4S9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1921294 | PA      | $233214.95    | 0.00%             | 2048-01-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K082, Class X3                        | CUSIP: 3137FJKH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11750000 | PA      | $1175430.05   | 0.01%             | 2046-10-25      | Variable      | 2.21%                 | No            |                  2 | On Loan: No      |
| Tata Consultancy Services Ltd.                                              | Tata Consultancy Services Ltd.                                                                         | CUSIP: N/A<br>LEI: 335800ZJKU9GPQRE2U66       | Long             | EC               | CORP              | IN        |    124461 | NS      | $5136962.76   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                | Oracle Corp.                                                                                           | CUSIP: 68389XBP9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    279000 | PA      | $234497.14    | 0.00%             | 2037-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Airbnb, Inc.                                                                | Airbnb, Inc.                                                                                           | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |    693000 | PA      | $594940.50    | 0.01%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Vistra Corp.                                                                | Vistra Corp.                                                                                           | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     66827 | NS      | $1541030.62   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), 1st Lien Term Loan C                                                                | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |    128052 | PA      | $127382.13    | 0.00%             | 2028-06-30      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| LABL, Inc.                                                                  | LABL, Inc.                                                                                             | CUSIP: 50168AAB6<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   5530000 | PA      | $5360754.35   | 0.05%             | 2026-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                          | United Rentals North America, Inc.                                                                     | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   3236000 | PA      | $3215775.00   | 0.03%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |    780000 | PA      | $632775.00    | 0.01%             | 2031-01-21      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Public Service Enterprise Group, Inc.                                       | Public Service Enterprise Group, Inc.                                                                  | CUSIP: 744573AT3<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    477000 | PA      | $461456.09    | 0.00%             | 2023-11-08      | Fixed         | 0.84%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies BV                                                     | Sensata Technologies BV                                                                                | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |   5300000 | PA      | $4756750.00   | 0.05%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Deluxe Corp.                                                                | Deluxe Corp.                                                                                           | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |   1285000 | PA      | $1100281.25   | 0.01%             | 2029-06-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2019-3, Class F                                   | CUSIP: 02529NAL1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1210000 | PA      | $1199605.74   | 0.01%             | 2026-05-12      | Fixed         | 5.42%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                        | Ally Financial, Inc.                                                                                   | CUSIP: 02005NBF6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2862297.65   | 0.03%             | 2025-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2016-C2, Class D                                           | CUSIP: 17291CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $740118.30    | 0.01%             | 2049-08-10      | Variable      | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Cengage Learning, Inc.                                                      | Cengage Learning, Inc.                                                                                 | CUSIP: 15137NAA1<br>LEI: 549300BYGM0FWUSVXJ88 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1016502.85   | 0.01%             | 2024-06-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: —       |
| Meritage Homes Corp.                                                        | Meritage Homes Corp.                                                                                   | CUSIP: 59001ABD3<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |   1226000 | PA      | $1086542.50   | 0.01%             | 2029-04-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                             | Santander UK Group Holdings plc                                                                        | CUSIP: 80281LAT2<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   1270000 | PA      | $1325175.54   | 0.01%             | 2029-01-10      | Variable      | 6.53%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-3, Class A18                                              | CUSIP: 12543RAT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    783972 | PA      | $424878.31    | 0.00%             | 2037-04-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QBV3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    550000 | PA      | $526212.50    | 0.01%             | 2025-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254CQ1<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   2227000 | PA      | $2281550.43   | 0.02%             | 2027-01-09      | Variable      | 6.17%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                      | Tenet Healthcare Corp.                                                                                 | CUSIP: 88033GCX6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  17904000 | PA      | $17501160.00  | 0.17%             | 2027-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BP Capital Markets plc                                                      | BP Capital Markets plc                                                                                 | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   8914000 | PA      | $8323447.50   | 0.08%             | 2030-03-22      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Qwest Corp.                                                                 | Qwest Corp.                                                                                            | CUSIP: 912920AK1<br>LEI: 549300R2L4N683OO1509 | Long             | DBT              | CORP              | US        |    325000 | PA      | $325487.50    | 0.00%             | 2025-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Banc of America Mortgage Trust                                              | Banc of America Mortgage Trust, Series 2007-3, Class 1A1                                               | CUSIP: 05954CAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    116349 | PA      | $101423.31    | 0.00%             | 2037-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                                               | Federative Republic of Brazil                                                                          | CUSIP: 105756CA6<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   1130000 | PA      | $1068768.13   | 0.01%             | 2029-05-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Country Garden Holdings Co. Ltd.                                            | Country Garden Holdings Co. Ltd.                                                                       | CUSIP: N/A<br>LEI: 549300MGHLPT1EFHGF84       | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $575000.00    | 0.01%             | 2031-01-12      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander SA                                                          | Banco Santander SA                                                                                     | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2200000 | PA      | $1908870.24   | 0.02%             | 2026-11-12      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Valvoline, Inc.                                                             | Valvoline, Inc.                                                                                        | CUSIP: 92047WAD3<br>LEI: 549300CMHPBEY6VPOT75 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1376249.00   | 0.01%             | 2030-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: —       |
| JB Poindexter & Co., Inc.                                                   | JB Poindexter & Co., Inc.                                                                              | CUSIP: 730481AJ7<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |   1631000 | PA      | $1610612.50   | 0.02%             | 2026-04-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                                            | ABN AMRO Bank NV                                                                                       | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               | CORP              | NL        |    151339 | NS      | $2511856.88   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2019-INV2, Class B1                                                 | CUSIP: 92537HAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1687831.60   | 0.02%             | 2059-07-25      | Variable      | 4.45%                 | Yes           |                  2 | On Loan: No      |
| GLP China Holdings Ltd.                                                     | GLP China Holdings Ltd.                                                                                | CUSIP: N/A<br>LEI: 254900C6X2D3TGF2CO98       | Long             | DBT              | CORP              | HK        |   1500000 | PA      | $1390593.75   | 0.01%             | 2024-02-26      | Fixed         | 4.97%                 | Yes           |                  2 | On Loan: No      |
| BAT Capital Corp.                                                           | BAT Capital Corp.                                                                                      | CUSIP: 05526DBD6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    232000 | PA      | $190584.88    | 0.00%             | 2037-08-15      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KW09, Class X2B                                                      | CUSIP: 30298GAL6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  32681000 | PA      | $154319.68    | 0.00%             | 2029-06-25      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| Structured Adjustable Rate Mortgage Loan Trust                              | Structured Adjustable Rate Mortgage Loan Trust, Series 2005-1, Class 1A1                               | CUSIP: 863579KY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    195127 | PA      | $178904.85    | 0.00%             | 2035-02-25      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Medallion Midland Acquisition LLC                                           | Medallion Midland Acquisition LLC, 1st Lien Term Loan B                                                | CUSIP: 58404BAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    444566 | PA      | $444010.76    | 0.00%             | 2028-10-18      | Variable      | 8.59%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 78015DZ86<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | STIV             | CORP              | CA        |    850000 | PA      | $813490.32    | 0.01%             | 2023-12-08      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4820, Class ES                                                                    | CUSIP: 3137FHHV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1146759 | PA      | $119086.59    | 0.00%             | 2048-03-15      | Floating      | 1.74%                 | No            |                  2 | On Loan: No      |
| Nationwide Building Society                                                 | Nationwide Building Society                                                                            | CUSIP: N/A<br>LEI: 549300XFX12G42QIKN82       | Long             | DBT              | CORP              | GB        |    200000 | PA      | $237631.84    | 0.00%             | 2024-12-20      | Variable      | 5.87%                 | Yes           |                  2 | On Loan: No      |
| Flutter Entertainment plc                                                   | Flutter Entertainment plc, 1st Lien Term Loan B                                                        | CUSIP: N8233BAE2<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    412965 | PA      | $413534.89    | 0.00%             | 2028-07-22      | Variable      | 8.09%                 | No            |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                               | Asbury Automotive Group, Inc.                                                                          | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |   1004000 | PA      | $865899.80    | 0.01%             | 2032-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Svenska Handelsbanken                                                       | Svenska Handelsbanken                                                                                  | CUSIP: 86959RA26<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | STIV             | CORP              | SE        |    250000 | PA      | $248741.68    | 0.00%             | 2023-06-13      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                          | Banco Bilbao Vizcaya Argentaria SA                                                                     | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |    864352 | NS      | $6105586.76   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |    600000 | PA      | $392250.00    | 0.00%             | 2047-11-28      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2016-C1, Class D2                                   | CUSIP: 46645LAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1464500 | PA      | $1200765.81   | 0.01%             | 2049-03-17      | Variable      | 4.24%                 | Yes           |                  2 | On Loan: No      |
| Yue Yuen Industrial Holdings Ltd.                                           | Yue Yuen Industrial Holdings Ltd.                                                                      | CUSIP: N/A<br>LEI: 254900YUFIBANZ1XU687       | Long             | EC               | CORP              | BM        |   1235000 | NS      | $2025988.50   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95000U3B7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109573.52    | 0.00%             | 2033-07-25      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| Dell International LLC                                                      | Dell International LLC                                                                                 | CUSIP: 24703TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $64635.09     | 0.00%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The)                                                               | CUSIP: 693475BK0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    980000 | PA      | $1008849.21   | 0.01%             | 2028-12-02      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group, Inc.                                                      | WEC Energy Group, Inc.                                                                                 | CUSIP: 92939UAE6<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    100000 | PA      | $81026.18     | 0.00%             | 2030-10-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                                       | United Airlines, Inc., 1st Lien Term Loan B                                                            | CUSIP: 59921PAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    540000 | PA      | $562410.00    | 0.01%             | 2027-06-21      | Variable      | 10.00%                | No            |                  2 | On Loan: No      |
| Segro plc                                                                   | Segro plc                                                                                              | CUSIP: N/A<br>LEI: 213800XC35KGM9NFC641       | Long             | EC               | CORP              | GB        |    281291 | NS      | $2895497.94   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Calpine Corp.                                                               | Calpine Corp.                                                                                          | CUSIP: 131347CK0<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   2480000 | PA      | $2398603.72   | 0.02%             | 2026-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Broadcom, Inc.                                                              | Broadcom, Inc.                                                                                         | CUSIP: 11135FAS0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    145000 | PA      | $133526.37    | 0.00%             | 2032-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-1, Class B1                                                    | CUSIP: 92537QAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3150000 | PA      | $2066430.87   | 0.02%             | 2066-01-25      | Variable      | 2.98%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  27091000 | PA      | $25819077.55  | 0.25%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2017-P7, Class D                                           | CUSIP: 17325HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2027084.10   | 0.02%             | 2050-04-14      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR5, Class A6                               | CUSIP: 92922FM21<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050440 | PA      | $1024975.84   | 0.01%             | 2035-05-25      | Variable      | 3.31%                 | No            |                  2 | On Loan: No      |
| ATI, Inc.                                                                   | ATI, Inc.                                                                                              | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |   1655000 | PA      | $1514540.15   | 0.01%             | 2029-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-2, Class A2                                               | CUSIP: 12544CAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     98477 | PA      | $48581.43     | 0.00%             | 2037-03-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Tohoku Electric Power Co., Inc.                                             | Tohoku Electric Power Co., Inc.                                                                        | CUSIP: N/A<br>LEI: 353800KTF7EYIIYHY088       | Long             | EC               | CORP              | JP        |    536700 | NS      | $2886646.46   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| TransDigm Group, Inc.                                                       | TransDigm Group, Inc., 1st Lien Term Loan H                                                            | CUSIP: 89364MBU7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    250000 | PA      | $250312.50    | 0.00%             | 2027-02-22      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   1200000 | PA      | $1044000.00   | 0.01%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy Resources Corp.                                          | CenterPoint Energy Resources Corp.                                                                     | CUSIP: 15189WAN0<br>LEI: 2JADVB0458J06WCD4N56 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50013.45     | 0.00%             | 2023-03-02      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Tokio Marine Holdings, Inc.                                                 | Tokio Marine Holdings, Inc.                                                                            | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |    447500 | NS      | $9372759.31   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| CMS Energy Corp.                                                            | CMS Energy Corp.                                                                                       | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   5080000 | PA      | $4620056.80   | 0.04%             | 2050-06-01      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                                       | WR Grace Holdings LLC                                                                                  | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    240000 | PA      | $222672.00    | 0.00%             | 2027-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565BT0<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   2735000 | PA      | $2844062.75   | 0.03%             | 2027-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc., Term Loan B                                                                | CUSIP: 45174UAG3<br>LEI: 54930076J6KDZL504O62 | Long             | LON              | CORP              | US        |    149789 | PA      | $147495.58    | 0.00%             | 2026-05-01      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| TML Holdings Pte. Ltd.                                                      | TML Holdings Pte. Ltd.                                                                                 | CUSIP: N/A<br>LEI: 254900EBGMM47QH02V57       | Long             | DBT              | CORP              | SG        |   1000000 | PA      | $916750.00    | 0.01%             | 2026-06-09      | Fixed         | 4.35%                 | Yes           |                  2 | On Loan: No      |
| BASF SE                                                                     | BASF SE                                                                                                | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               | CORP              | DE        |     61284 | NS      | $3513745.79   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Installed Building Products, Inc.                                           | Installed Building Products, Inc.                                                                      | CUSIP: 45780RAA9<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |    306000 | PA      | $281472.59    | 0.00%             | 2028-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDH2<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    510000 | PA      | $509808.75    | 0.00%             | 2025-10-16      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Skandinaviska Enskilda Banken AB                                            | Skandinaviska Enskilda Banken AB                                                                       | CUSIP: 83050UXR4<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | STIV             | CORP              | SE        |   1000000 | PA      | $963458.08    | 0.01%             | 2023-10-25      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| T. Rowe Price Group, Inc.                                                   | T. Rowe Price Group, Inc.                                                                              | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |     56556 | NS      | $6587077.32   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NWD Finance BVI Ltd.                                                        | NWD Finance BVI Ltd.                                                                                   | CUSIP: N/A<br>LEI: 25490076V8K09HMNCT88       | Long             | DBT              | CORP              | VG        |   1050000 | PA      | $1021125.00   | 0.01%             | 2025-03-16      | Variable      | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Viatris, Inc.                                                               | Viatris, Inc.                                                                                          | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |    238334 | NS      | $2898141.44   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Discovery Communications LLC                                                | Discovery Communications LLC                                                                           | CUSIP: 25470DBJ7<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    190000 | PA      | $167129.39    | 0.00%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy, Inc.                                                    | CenterPoint Energy, Inc., Series A                                                                     | CUSIP: 15189TAS6<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   2680000 | PA      | $2636450.00   | 0.03%             | 2023-09-01      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Elkem ASA                                                                   | Elkem ASA                                                                                              | CUSIP: N/A<br>LEI: 549300CVBE06T0SH6T76       | Long             | EC               | CORP              | NO        |    595199 | NS      | $2108310.64   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QBX9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   1999000 | PA      | $1266866.25   | 0.01%             | 2046-01-23      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Corp.                                                          | Toyota Motor Corp.                                                                                     | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |    515500 | NS      | $7570489.41   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| MUFG Bank Ltd.                                                              | MUFG Bank Ltd.                                                                                         | CUSIP: 62479MSF1<br>LEI: C3GTMMZIHMY46P4OIX74 | Long             | STIV             | CORP              | JP        |    653000 | PA      | $644031.84    | 0.01%             | 2023-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-134, Class SB                                                                        | CUSIP: 38380GG40<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2158681 | PA      | $223491.08    | 0.00%             | 2047-09-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Worldline SA                                                                | Worldline SA                                                                                           | CUSIP: N/A<br>LEI: 549300CJMQNCA0U4TS33       | Long             | DBT              | CORP              | FR        |    590700 | PA      | $572740.64    | 0.01%             | 2026-07-30      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                         | Coca-Cola Co. (The)                                                                                    | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    640496 | NS      | $39275214.72  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| VTech Holdings Ltd.                                                         | VTech Holdings Ltd.                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |    293200 | NS      | $1938286.60   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Chemours Co. (The)                                                          | Chemours Co. (The)                                                                                     | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   6107000 | PA      | $5565003.75   | 0.05%             | 2028-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.                          | National Rural Utilities Cooperative Finance Corp.                                                     | CUSIP: 637432NK7<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |   3053000 | PA      | $2846922.50   | 0.03%             | 2046-04-20      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| No. Va Land Investment Group Corp.                                          | No. Va Land Investment Group Corp.                                                                     | CUSIP: N/A<br>LEI: 254900EFD5LHVZIE8I94       | Long             | DBT              | CORP              | VN        |   1200000 | PA      | $318000.00    | 0.00%             | 2026-07-16      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XAL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12636000 | PA      | $12611630.21  | 0.12%             | 2023-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                 | Allied Universal Holdco LLC                                                                            | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2244000 | PA      | $1935539.76   | 0.02%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Proximus SADP                                                               | Proximus SADP                                                                                          | CUSIP: N/A<br>LEI: 549300CWRXC5EP004533       | Long             | EC               | CORP              | BE        |    214630 | NS      | $2199339.65   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hungary                                                                     | Hungary Government Bond                                                                                | CUSIP: 445545AT3<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    243000 | PA      | $256668.75    | 0.00%             | 2052-09-25      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| KB Financial Group, Inc.                                                    | KB Financial Group, Inc.                                                                               | CUSIP: N/A<br>LEI: 529900TKE4MXG3Q6GW86       | Long             | EC               | CORP              | KR        |    180683 | NS      | $8234159.61   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co., Series Z                                                                            | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    775625 | NS      | $16466518.75  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BPCE SA                                                                     | BPCE SA                                                                                                | CUSIP: 05583JAC6<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   2345000 | PA      | $2164608.53   | 0.02%             | 2027-10-23      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| CMS Energy Corp.                                                            | CMS Energy Corp.                                                                                       | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |     42068 | NS      | $2658276.92   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| New Century Home Equity Loan Trust                                          | New Century Home Equity Loan Trust, Series 2004-3, Class M2                                            | CUSIP: 64352VHW4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    294950 | PA      | $288073.05    | 0.00%             | 2034-11-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: N/A<br>LEI: 529900LOP29R5WKHOD86       | Long             | DBT              | NUSS              | PK        |    450000 | PA      | $193549.50    | 0.00%             | 2026-04-08      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| DNB Bank ASA                                                                | DNB Bank ASA                                                                                           | CUSIP: 23341CAC7<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |   1531000 | PA      | $1548882.74   | 0.01%             | 2026-10-09      | Variable      | 5.90%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust, Inc.                                         | Citigroup Mortgage Loan Trust, Inc., Series 2006-8, Class A3                                           | CUSIP: 17310CAC6<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    482525 | PA      | $258423.60    | 0.00%             | 2035-10-25      | Floating      | 4.86%                 | Yes           |                  2 | On Loan: No      |
| Republic of Ecuador                                                         | Republic of Ecuador                                                                                    | CUSIP: N/A<br>LEI: 5299003Y2U5XK0A35H71       | Long             | DBT              | NUSS              | EC        |   4410000 | PA      | $2926586.25   | 0.03%             | 2030-07-31      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| WH Group Ltd.                                                               | WH Group Ltd.                                                                                          | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               | CORP              | KY        |   3314946 | NS      | $2041557.87   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2006-QS17, Class A5                                                                 | CUSIP: 74922SAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1535865 | PA      | $1237234.09   | 0.01%             | 2036-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR26, Class D                                                   | CUSIP: 12593QBK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2051176.50   | 0.02%             | 2048-10-10      | Variable      | 3.47%                 | No            |                  2 | On Loan: No      |
| SRS Distribution, Inc.                                                      | SRS Distribution, Inc., 1st Lien Term Loan B                                                           | CUSIP: 78466YAQ1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    432569 | PA      | $416620.00    | 0.00%             | 2028-06-02      | Variable      | 8.16%                 | No            |                  2 | On Loan: No      |
| FWD Ltd.                                                                    | FWD Ltd.                                                                                               | CUSIP: N/A<br>LEI: 254900FMA87JW77SVS91       | Long             | DBT              | CORP              | KY        |   1800000 | PA      | $1597500.00   | 0.02%             | 2023-08-01      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                                                      | Keurig Dr Pepper, Inc.                                                                                 | CUSIP: 49271VAJ9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    253000 | PA      | $228664.84    | 0.00%             | 2030-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Bendigo & Adelaide Bank Ltd.                                                | Bendigo & Adelaide Bank Ltd.                                                                           | CUSIP: N/A<br>LEI: 549300Y9URD6W70K0360       | Long             | EC               | CORP              | AU        |    392427 | NS      | $2797382.82   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series X                                                                        | CUSIP: 060505EH3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   7517000 | PA      | $7512339.46   | 0.07%             | 2024-09-05      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Sumitomo Forestry Co. Ltd.                                                  | Sumitomo Forestry Co. Ltd.                                                                             | CUSIP: N/A<br>LEI: 549300FIIRGO6D5FWR19       | Long             | EC               | CORP              | JP        |     75100 | NS      | $1404182.35   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Legacy Mortgage Asset Trust                                                 | Legacy Mortgage Asset Trust, Series 2021-GS1, Class A2                                                 | CUSIP: 52474JAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1795581.60   | 0.02%             | 2066-10-25      | Variable      | 3.84%                 | Yes           |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                                    | Svenska Handelsbanken AB                                                                               | CUSIP: 86959LAG8<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |    545000 | PA      | $513730.18    | 0.00%             | 2024-06-11      | Fixed         | 0.55%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967MT5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   6575000 | PA      | $6356694.55   | 0.06%             | 2024-10-30      | Variable      | 0.78%                 | No            |                  2 | On Loan: No      |
| TJX Cos., Inc. (The)                                                        | TJX Cos., Inc. (The)                                                                                   | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |    172252 | NS      | $14100548.72  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |    780000 | PA      | $723450.00    | 0.01%             | 2029-11-26      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Welltower, Inc.                                                             | Welltower, Inc.                                                                                        | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |    186543 | NS      | $13998186.72  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| New Metro Global Ltd.                                                       | New Metro Global Ltd.                                                                                  | CUSIP: N/A<br>LEI: 549300HJRNTCANEH0D47       | Long             | DBT              | CORP              | VG        |   1100000 | PA      | $935000.00    | 0.01%             | 2024-12-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| ABFC Trust                                                                  | ABFC Trust, Series 2003-OPT1, Class A1A                                                                | CUSIP: 04542BDE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    126546 | PA      | $122642.91    | 0.00%             | 2033-04-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                          | Energy Transfer LP                                                                                     | CUSIP: 29273RBK4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    115000 | PA      | $111120.12    | 0.00%             | 2027-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                        | Mitsubishi UFJ Financial Group, Inc.                                                                   | CUSIP: 606822CF9<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    932000 | PA      | $906403.08    | 0.01%             | 2026-04-17      | Variable      | 3.84%                 | No            |                  2 | On Loan: No      |
| Coterra Energy, Inc.                                                        | Coterra Energy, Inc.                                                                                   | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    204362 | NS      | $5115180.86   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CWABS Asset-Backed Certificates Trust                                       | CWABS Asset-Backed Certificates Trust,, Series 2004-BC4, Class M1                                      | CUSIP: 126673KY7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     45700 | PA      | $45068.33     | 0.00%             | 2034-11-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Japan Post Holdings Co. Ltd.                                                | Japan Post Holdings Co. Ltd.                                                                           | CUSIP: N/A<br>LEI: 5299003D9N4JBS256X18       | Long             | EC               | CORP              | JP        |    720100 | NS      | $6322091.02   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Corp.                                                                | Vistra Corp.                                                                                           | CUSIP: N/A<br>LEI: 549300KP43CPCUJOOG15       | Long             |  | CORP              | US        |    487640 | NS      | $621741.00    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2015-149, Class GS                                                                        | CUSIP: 38379Q6K6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3679357 | PA      | $478634.36    | 0.00%             | 2045-10-20      | Floating      | 1.76%                 | No            |                  2 | On Loan: No      |
| Superior Plus LP                                                            | Superior Plus LP                                                                                       | CUSIP: 86828LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1621000 | PA      | $1432558.75   | 0.01%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                                     | FHLMC STACR REMIC Trust, Series 2021-DNA5, Class B2                                                    | CUSIP: 35564KJB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3400000 | PA      | $2923293.82   | 0.03%             | 2034-01-25      | Floating      | 9.81%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |   1040000 | PA      | $1068795.00   | 0.01%             | 2026-01-29      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   4524000 | PA      | $3754920.00   | 0.04%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2013-C15, Class E                                   | CUSIP: 46640NAR9<br>LEI: 549300UOGMFS1M8XVM16 | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1842848.20   | 0.02%             | 2045-11-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2015-GC30, Class D                                                | CUSIP: 36250GAX3<br>LEI: 549300L45M7638EL0H21 | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1048752.13   | 0.01%             | 2050-05-10      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2012-75, Class DS                                                                  | CUSIP: 3136A6W83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2665079 | PA      | $270750.49    | 0.00%             | 2042-07-25      | Floating      | 1.44%                 | No            |                  2 | On Loan: No      |
| Warehouses De Pauw CVA                                                      | Warehouses De Pauw CVA                                                                                 | CUSIP: N/A<br>LEI: 549300HWDYC5JXC85138       | Long             | EC               | CORP              | BE        |      1075 | NS      | $34090.30     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2249000 | PA      | $2007232.50   | 0.02%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                                  | Warnermedia Holdings, Inc.                                                                             | CUSIP: 55903VAG8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56233.02     | 0.00%             | 2027-03-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| SFL Corp. Ltd.                                                              | SFL Corp. Ltd.                                                                                         | CUSIP: N/A<br>LEI: 549300RLYYPSB0C7RH77       | Long             | EC               | CORP              | BM        |    281688 | NS      | $2867583.84   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp.                                                      | Norfolk Southern Corp.                                                                                 | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |     42003 | NS      | $10324757.43  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2703000 | PA      | $1990705.44   | 0.02%             | 2031-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1733000 | PA      | $1372709.30   | 0.01%             | 2031-02-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Blue Racer Midstream LLC                                                    | Blue Racer Midstream LLC                                                                               | CUSIP: 095796AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1487350.00   | 0.01%             | 2026-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2019-B15, Class E                                                     | CUSIP: 08160KAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4391000 | PA      | $2565757.90   | 0.02%             | 2072-12-15      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                                              | Takeda Pharmaceutical Co. Ltd.                                                                         | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |    174500 | NS      | $5485825.64   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| UDR, Inc.                                                                   | UDR, Inc.                                                                                              | CUSIP: 90265EAR1<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |     41000 | PA      | $35728.02     | 0.00%             | 2031-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| James Hardie International Finance DAC                                      | James Hardie International Finance DAC                                                                 | CUSIP: 47032FAB5<br>LEI: 635400G32A4Q1LVQ8M88 | Long             | DBT              | CORP              | IE        |    672000 | PA      | $638048.34    | 0.01%             | 2028-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2014-LC17, Class D                                                   | CUSIP: 12592MAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3250000 | PA      | $2778569.30   | 0.03%             | 2047-10-10      | Fixed         | 3.69%                 | Yes           |                  2 | On Loan: No      |
| ING US Funding LLC                                                          | ING US Funding LLC                                                                                     | CUSIP: 4497W1XG6<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $964926.33    | 0.01%             | 2023-10-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rizal Commercial Banking Corp.                                              | Rizal Commercial Banking Corp.                                                                         | CUSIP: N/A<br>LEI: CIKZWI6KV077KV2E2J69       | Long             | DBT              | CORP              | PH        |   2700000 | PA      | $2413125.00   | 0.02%             | 2025-08-27      | Variable      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   1050000 | PA      | $784087.50    | 0.01%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| Chartwell Retirement Residences                                             | Chartwell Retirement Residences                                                                        | CUSIP: 16141A103<br>LEI: 549300M7UBEIZBWP4069 | Long             | EC               | CORP              | CA        |    258496 | NS      | $1905862.81   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| West China Cement Ltd.                                                      | West China Cement Ltd.                                                                                 | CUSIP: N/A<br>LEI: 529900MMG3NBTIWPPR63       | Long             | DBT              | CORP              | JE        |   1900000 | PA      | $1667250.00   | 0.02%             | 2026-07-08      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |   1400000 | PA      | $1444012.50   | 0.01%             | 2028-10-12      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2015-59                                                                                   | CUSIP: 38379KKY3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3643414 | PA      | $103872.27    | 0.00%             | 2056-06-16      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| Bioceanico Sovereign Certificate Ltd.                                       | Bioceanico Sovereign Certificate Ltd.                                                                  | CUSIP: 09076AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    383580 | PA      | $274499.23    | 0.00%             | 2034-06-05      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: 035198AD2<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   1550000 | PA      | $1437625.00   | 0.01%             | 2029-11-26      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Calpine Construction Finance Co. LP                                         | Calpine Construction Finance Co. LP, 1st Lien Term Loan                                                | CUSIP: 13134NAG6<br>LEI: V0Q3DOB0FIB2XI1KWU77 | Long             | LON              | CORP              | US        |    416511 | PA      | $415840.16    | 0.00%             | 2025-01-15      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325EF8<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    950000 | PA      | $975115.63    | 0.01%             | 2033-04-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Gray Television, Inc.                                                       | Gray Television, Inc., 1st Lien Term Loan D                                                            | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |    212400 | PA      | $211437.85    | 0.00%             | 2028-12-01      | Variable      | 7.37%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software, Inc.                                         | Take-Two Interactive Software, Inc.                                                                    | CUSIP: 874054AG4<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95837.04     | 0.00%             | 2027-04-14      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Aozora Bank Ltd.                                                            | Aozora Bank Ltd.                                                                                       | CUSIP: N/A<br>LEI: X0XUGKC9FD2CYUQNC010       | Long             | EC               | CORP              | JP        |    220800 | NS      | $4414722.19   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| VICI Properties, Inc.                                                       | VICI Properties, Inc.                                                                                  | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    741904 | NS      | $25358278.72  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| GSAMP Trust                                                                 | GSAMP Trust, Series 2006-FM1, Class A2C                                                                | CUSIP: 362334PJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1982529 | PA      | $1261723.03   | 0.01%             | 2036-04-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Louisiana-Pacific Corp.                                                     | Louisiana-Pacific Corp.                                                                                | CUSIP: 546347AM7<br>LEI: 549300C7E2UAO5BVRR75 | Long             | DBT              | CORP              | US        |    520000 | PA      | $450150.59    | 0.00%             | 2029-03-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                                  | Aviation Capital Group LLC                                                                             | CUSIP: 05369AAL5<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    210000 | PA      | $182338.03    | 0.00%             | 2026-09-20      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| DNB Bank ASA                                                                | DNB Bank ASA                                                                                           | CUSIP: 25601B2D6<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |   2955000 | PA      | $2865008.61   | 0.03%             | 2025-03-28      | Variable      | 2.97%                 | Yes           |                  2 | On Loan: No      |
| Allstate Corp. (The)                                                        | Allstate Corp. (The), Series H                                                                         | CUSIP: 020002838<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |     43830 | NS      | $1052796.60   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ, Inc.                                                                   | AZZ, Inc., 1st Lien Term Loan B                                                                        | CUSIP: 00247NAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    524700 | PA      | $524605.55    | 0.01%             | 2029-05-13      | Variable      | 8.80%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley, Series K                                                                               | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    341514 | NS      | $8589077.10   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp.                                                               | Centene Corp.                                                                                          | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   5040000 | PA      | $4430764.80   | 0.04%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Emera US Finance LP                                                         | Emera US Finance LP                                                                                    | CUSIP: 29103DAT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $61110.21     | 0.00%             | 2031-06-15      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| Exelon Corp.                                                                | Exelon Corp., 1st Lien Term Loan B                                                                     | CUSIP: 30204KAD8<br>LEI: 5493004JBPWTPTK8LB51 | Long             | LON              | CORP              | US        |    728755 | PA      | $727049.40    | 0.01%             | 2027-12-15      | Variable      | 7.24%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                                       | Sirius XM Radio, Inc.                                                                                  | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |  18150000 | PA      | $17174437.50  | 0.17%             | 2027-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ring Container Technologies LLC                                             | Ring Container Technologies LLC, 1st Lien Term Loan B                                                  | CUSIP: 76680YAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    425700 | PA      | $425700.00    | 0.00%             | 2028-08-12      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-K153, Class B                                                        | CUSIP: 30301NAE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  10281108 | PA      | $4536625.27   | 0.04%             | 2032-04-25      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| PRPM LLC                                                                    | PRPM LLC, Series 2021-5, Class A2                                                                      | CUSIP: 69358DAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3413326.80   | 0.03%             | 2026-06-25      | Variable      | 3.72%                 | Yes           |                  2 | On Loan: No      |
| Klabin Austria GmbH                                                         | Klabin Austria GmbH                                                                                    | CUSIP: N/A<br>LEI: 984500578YEA8DD41B09       | Long             | DBT              | CORP              | AT        |   1150000 | PA      | $1158050.00   | 0.01%             | 2049-04-03      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| China Petroleum & Chemical Corp.                                            | China Petroleum & Chemical Corp., Class H                                                              | CUSIP: N/A<br>LEI: 529900A2OB24EZ5B3J19       | Long             | EC               | CORP              | CN        |  20732000 | NS      | $11194652.87  | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Warehouses De Pauw CVA                                                      | Warehouses De Pauw CVA                                                                                 | CUSIP: N/A<br>LEI: 549300HWDYC5JXC85138       | Long             | EC               | CORP              | BE        |     68539 | NS      | $2173502.01   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Country Garden Holdings Co. Ltd.                                            | Country Garden Holdings Co. Ltd.                                                                       | CUSIP: N/A<br>LEI: 549300MGHLPT1EFHGF84       | Long             | DBT              | CORP              | KY        |    200000 | PA      | $176000.00    | 0.00%             | 2024-01-27      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |    610000 | PA      | $460550.00    | 0.00%             | 2032-02-16      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GWU4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100036.97    | 0.00%             | 2023-02-23      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| ReNew Wind Energy AP2                                                       | ReNew Wind Energy AP2                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | IN        |    200000 | PA      | $170500.00    | 0.00%             | 2028-07-14      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| TransDigm Group, Inc.                                                       | TransDigm Group, Inc., 1st Lien Term Loan F                                                            | CUSIP: 89364MBR4<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   1469715 | PA      | $1465863.98   | 0.01%             | 2025-12-09      | Variable      | 6.98%                 | No            |                  2 | On Loan: No      |
| Manulife Financial Corp.                                                    | Manulife Financial Corp.                                                                               | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |    368138 | NS      | $7285012.62   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Comstock Resources, Inc.                                                    | Comstock Resources, Inc.                                                                               | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   7931000 | PA      | $7316347.50   | 0.07%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2003-OPT1, Class M1                                     | CUSIP: 5899295K0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100308 | PA      | $97470.34     | 0.00%             | 2034-07-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| First Student Bidco, Inc.                                                   | First Student Bidco, Inc., 1st Lien Term Loan C                                                        | CUSIP: 33718FAB6<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |   1784194 | PA      | $1682351.78   | 0.02%             | 2028-07-21      | Variable      | 7.73%                 | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG                                                   | Zurich Insurance Group AG                                                                              | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |     43768 | NS      | $21644542.34  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Dow, Inc.                                                                   | Dow, Inc.                                                                                              | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |    283356 | NS      | $16817178.60  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibson Energy, Inc.                                                         | Gibson Energy, Inc.                                                                                    | CUSIP: 374825206<br>LEI: 549300WYW5D9I3FR0643 | Long             | EC               | CORP              | CA        |    145221 | NS      | $2600891.68   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SVB Financial Group                                                         | SVB Financial Group                                                                                    | CUSIP: 78486QAD3<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1042568.01   | 0.01%             | 2025-01-29      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| Owens-Brockway Glass Container, Inc.                                        | Owens-Brockway Glass Container, Inc.                                                                   | CUSIP: 69073TAS2<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   1084000 | PA      | $1062591.00   | 0.01%             | 2025-08-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR14, Class 1A4                             | CUSIP: 92922F4D7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    573632 | PA      | $535152.06    | 0.01%             | 2035-12-25      | Variable      | 3.89%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                                                  | Procter & Gamble Co. (The)                                                                             | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    191315 | NS      | $27239429.70  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MV24 Capital BV                                                             | MV24 Capital BV                                                                                        | CUSIP: 55388RAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    582420 | PA      | $552716.58    | 0.01%             | 2034-06-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Netflix, Inc.                                                               | Netflix, Inc.                                                                                          | CUSIP: 64110LAV8<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   1064000 | PA      | $1050806.40   | 0.01%             | 2030-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2018-KF43, Class B                                                        | CUSIP: 30296DAG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1288406 | PA      | $1225722.19   | 0.01%             | 2028-01-25      | Floating      | 6.54%                 | Yes           |                  2 | On Loan: No      |
| Emergent BioSolutions, Inc.                                                 | Emergent BioSolutions, Inc.                                                                            | CUSIP: 29089QAC9<br>LEI: 549300YW6TUOX8BE5103 | Long             | DBT              | CORP              | US        |   5114000 | PA      | $2224334.30   | 0.02%             | 2028-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| UniCredit SpA                                                               | UniCredit SpA                                                                                          | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |    264829 | NS      | $5172410.25   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| India Green Energy Holdings                                                 | India Green Energy Holdings                                                                            | CUSIP: N/A<br>LEI: 2549005BFUXXT5HWAG36       | Long             | DBT              | CORP              | MU        |   2950000 | PA      | $2854125.00   | 0.03%             | 2024-04-29      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| DigiCert, Inc.                                                              | DigiCert, Inc., 1st Lien Term Loan                                                                     | CUSIP: 24022KAJ8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    145000 | PA      | $132312.50    | 0.00%             | 2029-02-19      | Variable      | 11.70%                | No            |                  2 | On Loan: No      |
| Progressive Corp. (The)                                                     | Progressive Corp. (The), Series B                                                                      | CUSIP: 743315AU7<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |   7704000 | PA      | $7588440.00   | 0.07%             | 2023-03-15      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-WMC2, Class M1                                   | CUSIP: 61746RHS3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    848065 | PA      | $834123.30    | 0.01%             | 2034-07-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-K724, Class D                                                        | CUSIP: 30295XAW8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  20000000 | PA      | $18203152.00  | 0.17%             | 2049-12-25      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Americold Realty Trust, Inc.                                                | Americold Realty Trust, Inc.                                                                           | CUSIP: 03064D108<br>LEI: 549300R7N1V5YV8MWH02 | Long             | EC               | CORP              | US        |    135635 | NS      | $4260295.35   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class D                                         | CUSIP: 17323CAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3756100 | PA      | $3267419.37   | 0.03%             | 2048-02-10      | Variable      | 4.42%                 | Yes           |                  2 | On Loan: No      |
| KKR Group Co., Inc.                                                         | KKR Group Co., Inc., Series C                                                                          | CUSIP: 48251W401<br>LEI: 549300JOHU21WRN2Z451 | Long             | EP               | CORP              | US        |     10300 | NS      | $695868.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2004-6, Class 1A2                                                              | CUSIP: 45254NKD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         2 | PA      | $2.32         | 0.00%             | 2034-10-25      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AE9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |    250000 | PA      | $217187.50    | 0.00%             | 2043-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MI Windows & Doors, Inc.                                                    | MI Windows & Doors, Inc., 1st Lien Term Loan B                                                         | CUSIP: 55336CAJ1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    299792 | PA      | $297918.10    | 0.00%             | 2027-12-18      | Variable      | 8.16%                 | No            |                  2 | On Loan: No      |
| KazMunayGas National Co. JSC                                                | KazMunayGas National Co. JSC                                                                           | CUSIP: N/A<br>LEI: 2138001H1M69RFJCSH88       | Long             | DBT              | CORP              | KZ        |   1040000 | PA      | $889200.00    | 0.01%             | 2048-10-24      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Chart Industries, Inc.                                                      | Chart Industries, Inc.                                                                                 | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    561000 | PA      | $585397.89    | 0.01%             | 2031-01-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies BV                                                     | Sensata Technologies BV                                                                                | CUSIP: 81725WAJ2<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    167000 | PA      | $165162.17    | 0.00%             | 2025-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CenturyLink, Inc.                                                           | CenturyLink, Inc., 1st Lien Term Loan B                                                                | CUSIP: 15669GAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    279179 | PA      | $269605.49    | 0.00%             | 2027-03-15      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| AMC Entertainment Holdings, Inc.                                            | AMC Entertainment Holdings, Inc.                                                                       | CUSIP: 00165CAP9<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |   2940531 | PA      | $1466310.49   | 0.01%             | 2026-06-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: —       |
| Truist Financial Corp.                                                      | Truist Financial Corp.                                                                                 | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    204301 | NS      | $10090426.39  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Arches Buyer, Inc.                                                          | Arches Buyer, Inc.                                                                                     | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1436400.00   | 0.01%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2019-9, Class SM                                                                   | CUSIP: 3136B33U2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2532964 | PA      | $283615.78    | 0.00%             | 2049-03-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| MGM Resorts International                                                   | MGM Resorts International                                                                              | CUSIP: 552953CC3<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   6330000 | PA      | $6327281.27   | 0.06%             | 2023-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Holdings, Inc.                                          | Nationstar Mortgage Holdings, Inc.                                                                     | CUSIP: 63861CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4085000 | PA      | $3288425.00   | 0.03%             | 2031-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Metlife Securitization Trust                                                | Metlife Securitization Trust, Series 2017-1A, Class A                                                  | CUSIP: 59166BAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2409261 | PA      | $2283743.03   | 0.02%             | 2055-04-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83368RBH4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   2934000 | PA      | $2643873.43   | 0.03%             | 2028-01-19      | Variable      | 2.80%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series T                                                              | CUSIP: 38144GAE1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   6520000 | PA      | $5708097.72   | 0.05%             | 2026-05-10      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Global Infrastructure Solutions, Inc.                                       | Global Infrastructure Solutions, Inc.                                                                  | CUSIP: 37960XAB3<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |   2580000 | PA      | $2193388.55   | 0.02%             | 2032-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                                | Performance Food Group, Inc.                                                                           | CUSIP: 71376LAD2<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    400000 | PA      | $403100.00    | 0.00%             | 2025-05-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                                       | Coinbase Global, Inc.                                                                                  | CUSIP: 19260QAD9<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |   1395000 | PA      | $812587.50    | 0.01%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: —       |
| PRPM LLC                                                                    | PRPM LLC, Series 2020-6, Class A2                                                                      | CUSIP: 693587AB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2350000 | PA      | $2039739.61   | 0.02%             | 2025-11-25      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series DD                                                                       | CUSIP: 060505EU4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   6595000 | PA      | $6672161.50   | 0.06%             | 2026-03-10      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| China Construction Bank Corp.                                               | China Construction Bank Corp., Class H                                                                 | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | CN        |  16471000 | NS      | $10661528.77  | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| GYP Holdings III Corp.                                                      | GYP Holdings III Corp.                                                                                 | CUSIP: 36261NAA5<br>LEI: 549300055I1KJWZH9690 | Long             | DBT              | CORP              | US        |    356000 | PA      | $300170.35    | 0.00%             | 2029-05-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Nationwide Building Society                                                 | Nationwide Building Society                                                                            | CUSIP: 63859UBF9<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   2365000 | PA      | $2125756.60   | 0.02%             | 2025-08-28      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325EG6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    593000 | PA      | $586773.50    | 0.01%             | 2034-02-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| J Sainsbury plc                                                             | J Sainsbury plc                                                                                        | CUSIP: N/A<br>LEI: 213800VGZAAJIKJ9Y484       | Long             | EC               | CORP              | GB        |    842522 | NS      | $2732368.56   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaiser Aluminum Corp.                                                       | Kaiser Aluminum Corp.                                                                                  | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2065000 | PA      | $1746184.65   | 0.02%             | 2031-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                                               | Novelis Corp.                                                                                          | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   2468000 | PA      | $2234329.76   | 0.02%             | 2026-11-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                            | BP Capital Markets America, Inc.                                                                       | CUSIP: 10373QBL3<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    176000 | PA      | $167624.37    | 0.00%             | 2030-04-06      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                                              | Univision Communications, Inc.                                                                         | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   1429000 | PA      | $1229540.18   | 0.01%             | 2029-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Clearway Energy, Inc.                                                       | Clearway Energy, Inc., Class C                                                                         | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     69929 | NS      | $2362900.91   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Suisse AG                                                            | Credit Suisse AG                                                                                       | CUSIP: 22546QAP2<br>LEI: 549300D0YARF5HYP1809 | Long             | DBT              | CORP              | CH        |   3360000 | PA      | $3206142.58   | 0.03%             | 2024-09-09      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CWABS, Inc. Asset-Backed Certificates Trust                                 | CWABS, Inc. Asset-Backed Certificates Trust, Series 2004-5, Class M2                                   | CUSIP: 1266716L5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    410409 | PA      | $408319.18    | 0.00%             | 2034-07-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Dunelm Group plc                                                            | Dunelm Group plc                                                                                       | CUSIP: N/A<br>LEI: 213800WCOWEI3T5DUV19       | Long             | EC               | CORP              | GB        |    167623 | NS      | $2407519.30   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KW09, Class C                                                        | CUSIP: 30298GAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  24011000 | PA      | $14123128.54  | 0.14%             | 2029-06-25      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Endesa SA                                                                   | Endesa SA                                                                                              | CUSIP: N/A<br>LEI: 549300LHK07F2CHV4X31       | Long             | EC               | CORP              | ES        |    491702 | NS      | $9802927.06   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2019-PRM, Class E                                          | CUSIP: 29429JAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2750000 | PA      | $2737444.60   | 0.03%             | 2036-05-10      | Variable      | 4.73%                 | Yes           |                  2 | On Loan: No      |
| Global Payments, Inc.                                                       | Global Payments, Inc.                                                                                  | CUSIP: 37940XAH5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     55000 | PA      | $45820.85     | 0.00%             | 2031-11-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2019-53, Class IA                                                                         | CUSIP: 38380M4K4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6016680 | PA      | $327452.38    | 0.00%             | 2061-06-16      | Variable      | 0.78%                 | No            |                  2 | On Loan: No      |
| Virtusa Corp.                                                               | Virtusa Corp., 1st Lien Term Loan B                                                                    | CUSIP: 92828KAK8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    142462 | PA      | $140815.63    | 0.00%             | 2028-02-11      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83368JFA3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   7769000 | PA      | $7866112.50   | 0.08%             | 2025-09-29      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| State Street Corp.                                                          | State Street Corp., Series H                                                                           | CUSIP: 857477BA0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   4393000 | PA      | $4228616.18   | 0.04%             | 2023-12-15      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| G-III Apparel Group Ltd.                                                    | G-III Apparel Group Ltd.                                                                               | CUSIP: 36237HAA9<br>LEI: 529900O5KABM3R3SFM87 | Long             | DBT              | CORP              | US        |    442000 | PA      | $419793.26    | 0.00%             | 2025-08-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| TransAlta Corp.                                                             | TransAlta Corp.                                                                                        | CUSIP: 89346DAE7<br>LEI: GJZNVO2UY6DNFNIYH321 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $129335.03    | 0.00%             | 2040-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bausch Health Americas, Inc.                                                | Bausch Health Americas, Inc.                                                                           | CUSIP: 91911XAV6<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |   4676000 | PA      | $3476933.32   | 0.03%             | 2026-04-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Persimmon plc                                                               | Persimmon plc                                                                                          | CUSIP: N/A<br>LEI: 213800XI72Y57UWN6F31       | Long             | EC               | CORP              | GB        |    370205 | NS      | $6465744.67   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| PSP Capital, Inc.                                                           | PSP Capital, Inc.                                                                                      | CUSIP: 69370BVJ8<br>LEI: 549300B456N0WEIC5249 | Long             | STIV             | CORP              | CA        |   1850000 | PA      | $1800841.74   | 0.02%             | 2023-08-18      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| GSAMP Trust                                                                 | GSAMP Trust, Series 2003-SEA, Class A1                                                                 | CUSIP: 36228FVH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    423588 | PA      | $409216.40    | 0.00%             | 2033-02-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co., Series U                                                                            | CUSIP: 949746RN3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1707000 | PA      | $1698806.40   | 0.02%             | 2025-06-15      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 21K-F116, Class CS                                                        | CUSIP: 30320XAE7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   8883077 | PA      | $8783160.29   | 0.08%             | 2028-06-25      | Floating      | 10.46%                | Yes           |                  2 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-P4, Class CERT                                  | CUSIP: 52608CAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $4427756.20   | 0.04%             | 2037-06-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Norfolk Southern Corp.                                                      | Norfolk Southern Corp.                                                                                 | CUSIP: 655844CK2<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    132000 | PA      | $112435.61    | 0.00%             | 2031-05-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Snap, Inc.                                                                  | Snap, Inc.                                                                                             | CUSIP: 83304AAF3<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |   1328000 | PA      | $980064.00    | 0.01%             | 2027-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                                                  | Melco Resorts Finance Ltd.                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | KY        |   2300000 | PA      | $2086243.75   | 0.02%             | 2027-07-17      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Kilroy Realty LP                                                            | Kilroy Realty LP                                                                                       | CUSIP: 49427RAN2<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1189407.41   | 0.01%             | 2028-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Edison International                                                        | Edison International, Series B                                                                         | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   4195000 | PA      | $3729732.55   | 0.04%             | 2026-12-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Xinyi Glass Holdings Ltd.                                                   | Xinyi Glass Holdings Ltd.                                                                              | CUSIP: N/A<br>LEI: 52990082YXVVZFK1QJ17       | Long             | EC               | CORP              | KY        |   2955000 | NS      | $6291571.62   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                                                | Intelsat Jackson Holdings SA                                                                           | CUSIP: N/A<br>LEI: 8XJ8KF85PBKK1TLMFN29       | Long             |  | CORP              | LU        |     28251 | NS      | $282.51       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Republic of Guatemala                                                       | Republic of Guatemala                                                                                  | CUSIP: N/A<br>LEI: 529900QKDFFU9UWW5315       | Long             | DBT              | NUSS              | GT        |    250000 | PA      | $243953.13    | 0.00%             | 2032-04-24      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Wix.com Ltd.                                                                | Wix.com Ltd.                                                                                           | CUSIP: 92940WAD1<br>LEI: 5493008P6N29Q1AG9464 | Long             | DBT              | CORP              | IL        |   1673000 | PA      | $1434597.50   | 0.01%             | 2025-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tingyi Cayman Islands Holding Corp.                                         | Tingyi Cayman Islands Holding Corp.                                                                    | CUSIP: N/A<br>LEI: 5299009MPI9B60VN4P25       | Long             | EC               | CORP              | KY        |   4828000 | NS      | $8031926.75   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| SCOR SE                                                                     | SCOR SE                                                                                                | CUSIP: N/A<br>LEI: 96950056ULJ4JI7V3752       | Long             | EC               | CORP              | FR        |     87028 | NS      | $2148043.75   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2015-C33, Class C                                   | CUSIP: 46645JAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8000000 | PA      | $7226730.40   | 0.07%             | 2048-12-15      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280BZ1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2140000 | PA      | $2099884.93   | 0.02%             | 2025-03-11      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Azimut Holding SpA                                                          | Azimut Holding SpA                                                                                     | CUSIP: N/A<br>LEI: 81560025690EF8540635       | Long             | EC               | CORP              | IT        |    110110 | NS      | $2748972.15   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Elanco Animal Health, Inc.                                                  | Elanco Animal Health, Inc., 1st Lien Term Loan B                                                       | CUSIP: 28414BAF3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    775551 | PA      | $762948.41    | 0.01%             | 2027-08-01      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-10, Class 4CB1           | CUSIP: 93934FGL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    513634 | PA      | $483808.84    | 0.00%             | 2035-12-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                                 | Crescent Energy Finance LLC                                                                            | CUSIP: 45344LAC7<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   2425000 | PA      | $2421241.25   | 0.02%             | 2028-02-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Truist Financial Corp.                                                      | Truist Financial Corp., Series M                                                                       | CUSIP: 89832QAC3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2346000 | PA      | $2117030.40   | 0.02%             | 2027-12-15      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| Lebanese Republic                                                           | Lebanese Republic                                                                                      | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |   2639000 | PA      | $164937.50    | 0.00%             | 2027-03-23      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                        | Frontier Communications Holdings LLC                                                                   | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1833446.40   | 0.02%             | 2027-10-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Murphy Oil USA, Inc.                                                        | Murphy Oil USA, Inc.                                                                                   | CUSIP: 626738AF5<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |   1306000 | PA      | $1092695.93   | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Realogy Group LLC                                                           | Realogy Group LLC                                                                                      | CUSIP: 75606DAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    189000 | PA      | $146955.06    | 0.00%             | 2029-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of Ireland Group plc                                                   | Bank of Ireland Group plc                                                                              | CUSIP: 06279JAB5<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $174587.20    | 0.00%             | 2027-09-30      | Variable      | 2.03%                 | Yes           |                  2 | On Loan: No      |
| UDR, Inc.                                                                   | UDR, Inc.                                                                                              | CUSIP: 90265EAQ3<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |    160000 | PA      | $145178.10    | 0.00%             | 2030-01-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| SMC Global Power Holdings Corp.                                             | SMC Global Power Holdings Corp.                                                                        | CUSIP: N/A<br>LEI: 549300HBCE80QXKII590       | Long             | DBT              | CORP              | PH        |   1700000 | PA      | $1539881.25   | 0.01%             | 2025-10-21      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Telford Offshore Holdings Ltd.                                              | Telford Offshore Holdings Ltd.                                                                         | CUSIP: N/A<br>LEI: 254900MJ1ONJOBEVV564       | Long             | EC               | CORP              | KY        |     57698 | NS      | $0.06         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Altice France SA                                                            | Altice France SA, 1st Lien Term Loan B-13                                                              | CUSIP: F6628DAM6<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |   2639724 | PA      | $2540734.66   | 0.02%             | 2026-08-14      | Variable      | 8.65%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    330000 | PA      | $314737.50    | 0.00%             | 2047-03-08      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Western Union Co. (The)                                                     | Western Union Co. (The)                                                                                | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |    382133 | NS      | $5414824.61   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123CY4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   1050000 | PA      | $838687.50    | 0.01%             | 2030-03-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-J1, Class 1A13                                                     | CUSIP: 12668BKK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     98344 | PA      | $71067.34     | 0.00%             | 2036-02-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PetVet Care Centers LLC                                                     | PetVet Care Centers LLC, 1st Lien Term Loan                                                            | CUSIP: 70476XAH8<br>LEI: 549300V0HK8MSXZNOM91 | Long             | LON              | CORP              | US        |    540814 | PA      | $511577.33    | 0.00%             | 2025-02-14      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                                   | Standard Industries, Inc.                                                                              | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1353000 | PA      | $1074576.68   | 0.01%             | 2031-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                                   | Sunoco LP                                                                                              | CUSIP: 86765LAZ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4072000 | PA      | $3627541.20   | 0.03%             | 2030-04-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| USI, Inc.                                                                   | USI, Inc., 1st Lien Term Loan B                                                                        | CUSIP: 90351NAJ4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    533278 | PA      | $533144.78    | 0.01%             | 2029-11-22      | Variable      | 8.33%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                  | Prudential Financial, Inc.                                                                             | CUSIP: 744320BK7<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   3040000 | PA      | $3032616.39   | 0.03%             | 2052-09-01      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-64CB, Class 1A1                                                    | CUSIP: 12668AZL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    389802 | PA      | $345702.65    | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                          | Southern Co. (The), Series 2020                                                                        | CUSIP: 842587800<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |    122000 | NS      | $2752320.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4768, Class SG                                                                    | CUSIP: 3137F3HE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2139418 | PA      | $277200.36    | 0.00%             | 2048-03-15      | Floating      | 1.74%                 | No            |                  2 | On Loan: No      |
| Siemens AG                                                                  | Siemens AG (Registered)                                                                                | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |     43431 | NS      | $6784151.39   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Topdanmark A/S                                                              | Topdanmark A/S                                                                                         | CUSIP: N/A<br>LEI: 549300PP3ULLF0SQRK46       | Long             | EC               | CORP              | DK        |     28138 | NS      | $1518824.49   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities Trust                                  | Bear Stearns Asset-Backed Securities Trust, Series 2003-SD1, Class M1                                  | CUSIP: 07384YKM7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    388276 | PA      | $384743.24    | 0.00%             | 2033-12-25      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                         | Post Holdings, Inc.                                                                                    | CUSIP: 737446AN4<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   5068000 | PA      | $4877950.00   | 0.05%             | 2028-01-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series S                                                              | CUSIP: 38144GAC5<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1733000 | PA      | $1570814.04   | 0.02%             | 2025-02-10      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                                | Verizon Communications, Inc.                                                                           | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    524492 | NS      | $21803132.44  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Poste Italiane SpA                                                          | Poste Italiane SpA                                                                                     | CUSIP: N/A<br>LEI: 815600354DEDBD0BA991       | Long             | EC               | CORP              | IT        |    290815 | NS      | $3107076.81   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Genesee & Wyoming, Inc.                                                     | Genesee & Wyoming, Inc., 1st Lien Term Loan                                                            | CUSIP: 55316HAB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |   1014320 | PA      | $1012098.54   | 0.01%             | 2026-12-30      | Variable      | 6.73%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                                         | Hilcorp Energy I LP                                                                                    | CUSIP: 431318AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    615000 | PA      | $590713.65    | 0.01%             | 2028-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ESC Co.                                                                     | ESC Co., Escrow                                                                                        | CUSIP: 458ESCAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16148000 | PA      | $1614.80      | 0.00%             | 2024-10-15      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| Crestwood Midstream Partners LP                                             | Crestwood Midstream Partners LP                                                                        | CUSIP: 67421QAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4797000 | PA      | $4868788.98   | 0.05%             | 2029-04-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Southwestern Energy Co.                                                     | Southwestern Energy Co.                                                                                | CUSIP: 845467AN9<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |   1705000 | PA      | $1778110.40   | 0.02%             | 2027-10-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| National Retail Properties, Inc.                                            | National Retail Properties, Inc.                                                                       | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     71154 | NS      | $3369141.90   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Federative Republic of Brazil                                               | Federative Republic of Brazil                                                                          | CUSIP: 105756BB5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    785000 | PA      | $907803.44    | 0.01%             | 2034-01-20      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Trust                                                | Chase Mortgage Finance Trust, Series 2007-S2, Class 1A8                                                | CUSIP: 16163EAH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    190600 | PA      | $103877.88    | 0.00%             | 2037-03-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Republic of Iraq                                                            | Republic of Iraq                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | IQ        |   1150000 | PA      | $1139793.75   | 0.01%             | 2023-03-09      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Kellogg Co.                                                                 | Kellogg Co.                                                                                            | CUSIP: 487836108<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | EC               | CORP              | US        |     93473 | NS      | $6410378.34   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AE9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |     30000 | PA      | $26062.50     | 0.00%             | 2043-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Kite Realty Group Trust                                                     | Kite Realty Group Trust                                                                                | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115801 | NS      | $2512881.70   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-R1, Class B2                                                   | CUSIP: 92538BAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1322000 | PA      | $992696.41    | 0.01%             | 2063-10-25      | Variable      | 4.20%                 | Yes           |                  2 | On Loan: No      |
| Cie Generale des Etablissements Michelin SCA                                | Cie Generale des Etablissements Michelin SCA                                                           | CUSIP: N/A<br>LEI: 549300SOSI58J6VIW052       | Long             | EC               | CORP              | FR        |    298893 | NS      | $9450942.92   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Enact Holdings, Inc.                                                        | Enact Holdings, Inc.                                                                                   | CUSIP: 37255LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1119000 | PA      | $1102215.00   | 0.01%             | 2025-08-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                | MASTR Alternative Loan Trust, Series 2004-12, Class 3A1                                                | CUSIP: 576434YF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    470311 | PA      | $453900.13    | 0.00%             | 2034-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                                      | UBS AG, ELN, (linked to Nasdaq 100 Index)                                                              | CUSIP: 90278V289<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | SN               | CORP              | CH        |      9272 | PA      | $109289527.60 | 1.05%             | 2023-04-06      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   1038000 | PA      | $1021760.49   | 0.01%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Stellantis NV                                                               | Stellantis NV                                                                                          | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |    140699 | NS      | $2211770.91   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YEG6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2275000 | PA      | $2120027.25   | 0.02%             | 2025-10-21      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2019-GC40, Class E                                                | CUSIP: 36257HAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2250000 | PA      | $1425639.83   | 0.01%             | 2052-07-10      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| KeyCorp                                                                     | KeyCorp                                                                                                | CUSIP: 49326EEN9<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14675.49     | 0.00%             | 2033-06-01      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| FHLMC Multi-Family Structured Credit Risk                                   | FHLMC, Multi-Family Structured Credit Risk, Series MN2, Class B1                                       | CUSIP: 35563JAC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $1645583.60   | 0.02%             | 2041-07-25      | Floating      | 9.81%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2019-4, Class E                                   | CUSIP: 02529RAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1962986.40   | 0.02%             | 2025-12-12      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-AR4, Class 2A1                             | CUSIP: 22541SEZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    151192 | PA      | $151065.64    | 0.00%             | 2034-05-25      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C25, Class C                           | CUSIP: 61765TAM5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $4139057.70   | 0.04%             | 2048-10-15      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                                         | Hilcorp Energy I LP                                                                                    | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1506000 | PA      | $1400058.28   | 0.01%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| POSCO Holdings, Inc.                                                        | POSCO Holdings, Inc.                                                                                   | CUSIP: N/A<br>LEI: 988400E5HRVX81AYLM04       | Long             | DBT              | CORP              | KR        |    600000 | PA      | $624398.10    | 0.01%             | 2026-09-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Lloyds Bank Corporate Markets plc                                           | Lloyds Bank Corporate Markets plc                                                                      | CUSIP: 53947BG87<br>LEI: 213800MBWEIJDM5CU638 | Long             | STIV             | CORP              | GB        |    249000 | PA      | $249223.02    | 0.00%             | 2023-03-22      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-LC23, Class D                                                   | CUSIP: 12636FAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2750000 | PA      | $2338005.73   | 0.02%             | 2048-10-10      | Variable      | 3.56%                 | Yes           |                  2 | On Loan: No      |
| Masonite International Corp.                                                | Masonite International Corp.                                                                           | CUSIP: 575385AD1<br>LEI: 549300H0H07ZFT4JYM32 | Long             | DBT              | CORP              | CA        |   1582000 | PA      | $1480783.64   | 0.01%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307AY3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2660000 | PA      | $1945151.60   | 0.02%             | 2028-04-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2022-1, Class E                                   | CUSIP: 02530WAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1473000 | PA      | $1259693.84   | 0.01%             | 2028-03-13      | Fixed         | 3.64%                 | Yes           |                  2 | On Loan: No      |
| Delta Electronics, Inc.                                                     | Delta Electronics, Inc.                                                                                | CUSIP: N/A<br>LEI: 529900UVZWNWGDLJSM52       | Long             | EC               | CORP              | TW        |    300303 | NS      | $2912178.56   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Videotron Ltd.                                                              | Videotron Ltd.                                                                                         | CUSIP: 92660FAK0<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |    264000 | PA      | $253418.88    | 0.00%             | 2027-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95000U2T9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1540000 | PA      | $1457651.36   | 0.01%             | 2025-05-19      | Variable      | 0.80%                 | No            |                  2 | On Loan: No      |
| Republic of Kenya                                                           | Republic of Kenya                                                                                      | CUSIP: N/A<br>LEI: 549300VVURQQYU45PR87       | Long             | DBT              | NUSS              | KE        |    400000 | PA      | $360000.00    | 0.00%             | 2027-05-22      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios SA                              | ACS Actividades de Construccion y Servicios SA                                                         | CUSIP: N/A<br>LEI: 95980020140005558665       | Long             | EC               | CORP              | ES        |    105804 | NS      | $3131133.94   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Residential Asset Securitization Trust                                      | Residential Asset Securitization Trust, Series 2005-A3, Class A2                                       | CUSIP: 45660LHS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         0 | PA      | $0.01         | 0.00%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                 | Allied Universal Holdco LLC                                                                            | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1916000 | PA      | $1844629.00   | 0.02%             | 2026-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-18, Class 2A1                                             | CUSIP: 12544JAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    412693 | PA      | $158839.82    | 0.00%             | 2037-11-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Red Electrica Corp. SA                                                      | Red Electrica Corp. SA                                                                                 | CUSIP: N/A<br>LEI: 5493009HMD0C90GUV498       | Long             | EC               | CORP              | ES        |    150870 | NS      | $2670233.59   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                                         | Starwood Mortgage Residential Trust, Series 2020-INV1, Class B2                                        | CUSIP: 85573EAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1600000 | PA      | $1354390.24   | 0.01%             | 2055-11-25      | Fixed         | 4.26%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2016-P6, Class D                                           | CUSIP: 17291EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1325000 | PA      | $986341.79    | 0.01%             | 2049-12-10      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| BlueLinx Holdings, Inc.                                                     | BlueLinx Holdings, Inc.                                                                                | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |    308000 | PA      | $273042.00    | 0.00%             | 2029-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                       | NextEra Energy Capital Holdings, Inc.                                                                  | CUSIP: 65339KCB4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1933000 | PA      | $1688685.60   | 0.02%             | 2082-03-15      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| AstraZeneca plc                                                             | AstraZeneca plc                                                                                        | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |    200547 | NS      | $26274173.25  | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2018-16, Class SN                                                                  | CUSIP: 3136B1BN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1123753 | PA      | $144264.05    | 0.00%             | 2048-03-25      | Floating      | 1.74%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-HE6, Class M2                                    | CUSIP: 61744CFC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    567817 | PA      | $546116.33    | 0.01%             | 2034-08-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| India Green Power Holdings                                                  | India Green Power Holdings                                                                             | CUSIP: N/A<br>LEI: 254900I7N0GT4VVL6V29       | Long             | DBT              | CORP              | MU        |   3150000 | PA      | $2712937.50   | 0.03%             | 2027-02-22      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| New Century Home Equity Loan Trust                                          | New Century Home Equity Loan Trust, Series 2004-3, Class M3                                            | CUSIP: 64352VHX2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     63932 | PA      | $64530.48     | 0.00%             | 2034-11-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GZR8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4450000 | PA      | $4237669.81   | 0.04%             | 2028-03-15      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Zekelman Industries, Inc.                                                   | Zekelman Industries, Inc., 1st Lien Term Loan                                                          | CUSIP: 98931YAC7<br>LEI: 549300S5LMRAKDWWI425 | Long             | LON              | CORP              | US        |    658608 | PA      | $651916.41    | 0.01%             | 2027-01-24      | Variable      | 6.73%                 | No            |                  2 | On Loan: No      |
| Central Plaza Development Ltd.                                              | Central Plaza Development Ltd.                                                                         | CUSIP: N/A<br>LEI: 254900HLDKFNM2WUVJ54       | Long             | DBT              | CORP              | VG        |   2100000 | PA      | $1795237.50   | 0.02%             | 2026-01-19      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| Antero Resources Corp.                                                      | Antero Resources Corp.                                                                                 | CUSIP: 03674XAN6<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |   2242000 | PA      | $2353202.55   | 0.02%             | 2026-07-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| TopBuild Corp.                                                              | TopBuild Corp.                                                                                         | CUSIP: 89055FAC7<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    429000 | PA      | $363967.89    | 0.00%             | 2032-02-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Amgen, Inc.                                                                 | Amgen, Inc.                                                                                            | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     26036 | NS      | $6571486.40   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace, Inc.                                                      | Howmet Aerospace, Inc.                                                                                 | CUSIP: 022249AU0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    145000 | PA      | $152140.53    | 0.00%             | 2028-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Rite Aid Corp.                                                              | Rite Aid Corp.                                                                                         | CUSIP: 767754CK8<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |   3803000 | PA      | $2485296.74   | 0.02%             | 2025-07-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Spark New Zealand Ltd.                                                      | Spark New Zealand Ltd.                                                                                 | CUSIP: N/A<br>LEI: 529900HUN51H3Y7QBB66       | Long             | EC               | CORP              | NZ        |   1714223 | NS      | $5779910.77   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| TreeHouse Foods, Inc.                                                       | TreeHouse Foods, Inc.                                                                                  | CUSIP: 89469AAD6<br>LEI: 5493007M7EVHE470Q576 | Long             | DBT              | CORP              | US        |    517000 | PA      | $431178.00    | 0.00%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                                     | FHLMC STACR REMIC Trust, Series 2021-DNA1, Class B2                                                    | CUSIP: 35564KBE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8000000 | PA      | $6886540.80   | 0.07%             | 2051-01-25      | Floating      | 9.06%                 | Yes           |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2006-AR2, Class 1A1                              | CUSIP: 92925CDQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    145875 | PA      | $130636.16    | 0.00%             | 2036-03-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2020-145                                                                                  | CUSIP: 38380P2T0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  55698894 | PA      | $3124546.43   | 0.03%             | 2063-03-16      | Variable      | 0.73%                 | No            |                  2 | On Loan: No      |
| ANDRITZ AG                                                                  | ANDRITZ AG                                                                                             | CUSIP: N/A<br>LEI: 549300VZKC61IR5U8G96       | Long             | EC               | CORP              | AT        |     56558 | NS      | $3382254.24   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                                             | Microsoft Corp.                                                                                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     11005 | NS      | $2727149.05   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2017-CD4, Class D                                                            | CUSIP: 12515DAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $743051.70    | 0.01%             | 2050-05-10      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Mueller Water Products, Inc.                                                | Mueller Water Products, Inc.                                                                           | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |   1224000 | PA      | $1085592.10   | 0.01%             | 2029-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                                                   | CUSIP: 18453HAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7667000 | PA      | $6248605.00   | 0.06%             | 2029-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: —       |
| Foot Locker, Inc.                                                           | Foot Locker, Inc.                                                                                      | CUSIP: 344849AA2<br>LEI: 549300X383CBNP6MTV94 | Long             | DBT              | CORP              | US        |    407000 | PA      | $344110.36    | 0.00%             | 2029-10-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Glatfelter Corp.                                                            | Glatfelter Corp.                                                                                       | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |   2320000 | PA      | $1624000.00   | 0.02%             | 2029-11-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: 225313AP0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   6022000 | PA      | $5121108.80   | 0.05%             | 2029-03-23      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| RFMSI Trust                                                                 | RFMSI Trust, Series 2006-S10, Class 1A1                                                                | CUSIP: 74958DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1164309 | PA      | $941802.34    | 0.01%             | 2036-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                                       | Westpac Banking Corp.                                                                                  | CUSIP: 9612C1XB8<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | STIV             | CORP              | AU        |   1000000 | PA      | $965331.97    | 0.01%             | 2023-10-11      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Lehman Mortgage Trust                                                       | Lehman Mortgage Trust, Series 2007-7, Class 5A7                                                        | CUSIP: 52519BBP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6620143 | PA      | $3470390.02   | 0.03%             | 2037-08-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2003-NC10, Class M1                                   | CUSIP: 61746RDX6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300622 | PA      | $295818.11    | 0.00%             | 2033-10-25      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                      | Tenet Healthcare Corp.                                                                                 | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3884000 | PA      | $3770237.64   | 0.04%             | 2030-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Theme Parks, Inc.                                                 | Six Flags Theme Parks, Inc.                                                                            | CUSIP: 83001WAC8<br>LEI: 5493003MX0ZXTM8EVY68 | Long             | DBT              | CORP              | US        |    700000 | PA      | $707638.86    | 0.01%             | 2025-07-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| AbbVie, Inc.                                                                | AbbVie, Inc.                                                                                           | CUSIP: 00287YBX6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    457000 | PA      | $424934.44    | 0.00%             | 2029-11-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Moscow Exchange MICEX-RTS PJSC                                              | Moscow Exchange MICEX-RTS PJSC                                                                         | CUSIP: N/A<br>LEI: 253400M5M1222KPNWE87       | Long             | EC               | CORP              | RU        |   2552458 | NS      | $60642.60     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Keppel Infrastructure Trust                                                 | Keppel Infrastructure Trust                                                                            | CUSIP: N/A<br>LEI: 254900BF7L1ZCMAZS467       | Long             | EC               | CORP              | SG        |   3251800 | NS      | $1425800.00   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-75, Class SD                                                                         | CUSIP: 38376UL64<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1018987 | PA      | $113875.57    | 0.00%             | 2047-05-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYL2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5470000 | PA      | $5284457.60   | 0.05%             | 2024-10-21      | Variable      | 0.92%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                                             | Madison IAQ LLC                                                                                        | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    720000 | PA      | $633751.20    | 0.01%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    522130 | NS      | $18525172.40  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SMC Global Power Holdings Corp.                                             | SMC Global Power Holdings Corp.                                                                        | CUSIP: N/A<br>LEI: 549300HBCE80QXKII590       | Long             | DBT              | CORP              | PH        |   1400000 | PA      | $1288700.00   | 0.01%             | 2024-04-25      | Variable      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| LABL, Inc.                                                                  | LABL, Inc., 1st Lien Term Loan B                                                                       | CUSIP: 50168EAN2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4794414 | PA      | $4669423.97   | 0.04%             | 2028-10-29      | Variable      | 9.57%                 | No            |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2020-BN28, Class E                                                                        | CUSIP: 06540YBH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $1701469.20   | 0.02%             | 2063-03-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| DNB Bank ASA                                                                | DNB Bank ASA                                                                                           | CUSIP: 2332K1XA3<br>LEI: 549300GKFG0RYRRQ1414 | Long             | STIV             | CORP              | NO        |   1000000 | PA      | $966288.00    | 0.01%             | 2023-10-10      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    800000 | PA      | $664000.00    | 0.01%             | 2029-03-01      | Fixed         | 7.60%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-4, Class 4A1                               | CUSIP: 22541SUY2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1085699 | PA      | $1080405.94   | 0.01%             | 2034-08-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CF Industries Holdings, Inc.                                                | CF Industries Holdings, Inc.                                                                           | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     67072 | NS      | $5680998.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                                              | Public Storage                                                                                         | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |     58835 | NS      | $17905843.90  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Claire's Stores, Inc.                                                       | Claire's Stores, Inc., 1st Lien Term Loan B                                                            | CUSIP: 17958DAL1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1800358 | PA      | $1656329.07   | 0.02%             | 2026-12-18      | Variable      | 11.07%                | No            |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123CW8<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    600000 | PA      | $576000.00    | 0.01%             | 2024-11-14      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                                          | Vodafone Group plc                                                                                     | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |   3638000 | PA      | $3746812.58   | 0.04%             | 2079-04-04      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust, Inc.                                         | Citigroup Mortgage Loan Trust, Inc., Series 2005-6, Class A1                                           | CUSIP: 17307GXP8<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    237038 | PA      | $233158.72    | 0.00%             | 2035-09-25      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                                            | Ventas Realty LP                                                                                       | CUSIP: 92277GAM9<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94832.80     | 0.00%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nordic American Tankers Ltd.                                                | Nordic American Tankers Ltd.                                                                           | CUSIP: N/A<br>LEI: 213800W4T8AMPKIPIU94       | Long             | EC               | CORP              | BM        |    787235 | NS      | $2393194.40   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vmed O2 UK Financing I plc                                                  | Vmed O2 UK Financing I plc                                                                             | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $170005.25    | 0.00%             | 2031-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Adtalem Global Education, Inc.                                              | Adtalem Global Education, Inc.                                                                         | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |   1137000 | PA      | $1058296.86   | 0.01%             | 2028-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Transocean, Inc.                                                            | Transocean, Inc.                                                                                       | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |   1216000 | PA      | $1253696.00   | 0.01%             | 2030-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| GMACM Mortgage Loan Trust                                                   | GMACM Mortgage Loan Trust, Series 2004-AR2, Class 3A                                                   | CUSIP: 36185N3T5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    252892 | PA      | $219219.44    | 0.00%             | 2034-08-19      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                       | NextEra Energy Capital Holdings, Inc.                                                                  | CUSIP: 65339KCJ7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35583.97     | 0.00%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Galp Energia SGPS SA                                                        | Galp Energia SGPS SA                                                                                   | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |    222056 | NS      | $3039513.47   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K059, Class X3                        | CUSIP: 3137BSRH8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  24693238 | PA      | $1481730.09   | 0.01%             | 2044-11-25      | Variable      | 1.92%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967MX6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4420000 | PA      | $4185830.96   | 0.04%             | 2025-05-01      | Variable      | 0.98%                 | No            |                  2 | On Loan: —       |
| Evergy, Inc.                                                                | Evergy, Inc.                                                                                           | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |    151978 | NS      | $9521421.70   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Midwest Gaming Borrower LLC                                                 | Midwest Gaming Borrower LLC                                                                            | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    714000 | PA      | $624779.87    | 0.01%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C16, Class C                           | CUSIP: 61763MAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1844677.20   | 0.02%             | 2047-06-15      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| Prologis, Inc.                                                              | Prologis, Inc.                                                                                         | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    313032 | NS      | $40468776.96  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto plc                                                               | Rio Tinto plc                                                                                          | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |    206262 | NS      | $16150575.52  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                                      | Mineral Resources Ltd.                                                                                 | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    149000 | PA      | $152546.20    | 0.00%             | 2027-11-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2018-73, Class SC                                                                  | CUSIP: 3136B3EB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4588211 | PA      | $502919.37    | 0.00%             | 2048-10-25      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                                            | ABN AMRO Bank NV                                                                                       | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | DBT              | CORP              | NL        |   6700000 | PA      | $6861846.48   | 0.07%             | 2025-09-22      | Variable      | 4.37%                 | Yes           |                  2 | On Loan: No      |
| Kenedix Office Investment Corp.                                             | Kenedix Office Investment Corp.                                                                        | CUSIP: N/A<br>LEI: 353800FFT483NCIHFY42       | Long             | EC               | CORP              | JP        |       798 | NS      | $1895699.31   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                                                 | ONEOK, Inc.                                                                                            | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |    153444 | NS      | $10507845.12  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp.                                                        | Kimberly-Clark Corp.                                                                                   | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     53762 | NS      | $6989597.62   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group plc                                                           | NatWest Group plc                                                                                      | CUSIP: 780097BJ9<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1474000 | PA      | $1466505.77   | 0.01%             | 2024-06-25      | Variable      | 4.52%                 | No            |                  2 | On Loan: No      |
| Range Resources Corp.                                                       | Range Resources Corp.                                                                                  | CUSIP: 75281AAS8<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |   3345000 | PA      | $3227113.67   | 0.03%             | 2025-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HSBC USA, Inc.                                                              | HSBC USA, Inc.                                                                                         | CUSIP: 40434RZ70<br>LEI: 549300LBOHZ4QSIWU288 | Long             | STIV             | CORP              | US        |   1188000 | PA      | $1135059.75   | 0.01%             | 2023-12-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254BZ2<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   3640000 | PA      | $3240830.32   | 0.03%             | 2027-01-14      | Variable      | 1.46%                 | Yes           |                  2 | On Loan: No      |
| Canadian Pacific Railway Co.                                                | Canadian Pacific Railway Co.                                                                           | CUSIP: 13645RBF0<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $90675.73     | 0.00%             | 2031-12-02      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Mirion Technologies, Inc.                                                   | Mirion Technologies, Inc., 1st Lien Term Loan                                                          | CUSIP: 60470HAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    365653 | PA      | $363521.50    | 0.00%             | 2028-10-20      | Variable      | 7.48%                 | No            |                  2 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.                                             | Regeneron Pharmaceuticals, Inc.                                                                        | CUSIP: 75886FAE7<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | DBT              | CORP              | US        |    385000 | PA      | $310702.23    | 0.00%             | 2030-09-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| NuStar Logistics LP                                                         | NuStar Logistics LP                                                                                    | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   2910000 | PA      | $2792952.79   | 0.03%             | 2027-04-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Centrica plc                                                                | Centrica plc                                                                                           | CUSIP: N/A<br>LEI: E26EDV109X6EEPBKVH76       | Long             | EC               | CORP              | GB        |   2350235 | NS      | $2927930.50   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Suisse Group AG                                                      | Credit Suisse Group AG                                                                                 | CUSIP: 225436AA2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   7542000 | PA      | $6618859.20   | 0.06%             | 2024-12-18      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                         | NASDAQ 100 E-Mini Index                                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -2050 | NC      | $-19068826.50 | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Arconic Corp.                                                               | Arconic Corp.                                                                                          | CUSIP: 03966VAA5<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |   6777000 | PA      | $6511297.82   | 0.06%             | 2028-02-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2006-QS3, Class 1A10                                                                | CUSIP: 761118XN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    887523 | PA      | $751658.21    | 0.01%             | 2036-03-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Prime Money Market Fund                                            | JPMorgan Prime Money Market Fund, Class IM                                                             | CUSIP: 46637K844<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  22878960 | NS      | $22892687.01  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                                                                 | Equinor ASA                                                                                            | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |    130442 | NS      | $3975436.96   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                          | VICI Properties LP                                                                                     | CUSIP: 92564RAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2094000 | PA      | $1934741.88   | 0.02%             | 2027-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| JSW Steel Ltd.                                                              | JSW Steel Ltd.                                                                                         | CUSIP: 46635UAC3<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | DBT              | CORP              | IN        |    600000 | PA      | $528000.00    | 0.01%             | 2027-04-05      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325DL6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    240000 | PA      | $217245.00    | 0.00%             | 2027-04-25      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: 902613AM0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    735000 | PA      | $724073.31    | 0.01%             | 2026-05-12      | Variable      | 4.49%                 | Yes           |                  2 | On Loan: No      |
| Wiwynn Corp.                                                                | Wiwynn Corp.                                                                                           | CUSIP: N/A<br>LEI: 254900FV2R15PMKXFL69       | Long             | EC               | CORP              | TW        |     67000 | NS      | $1682883.13   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                                       | Spectrum Brands, Inc.                                                                                  | CUSIP: 84762LAU9<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |     91000 | PA      | $90241.87     | 0.00%             | 2025-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ASGN, Inc.                                                                  | ASGN, Inc.                                                                                             | CUSIP: 00191UAA0<br>LEI: LZBNYYCBUKY537072438 | Long             | DBT              | CORP              | US        |    638000 | PA      | $582050.53    | 0.01%             | 2028-05-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Rogers Communications, Inc.                                                 | Rogers Communications, Inc.                                                                            | CUSIP: 775109CC3<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $121516.84    | 0.00%             | 2032-03-15      | Fixed         | 3.80%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C15, Class D                           | CUSIP: 61763KAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    365000 | PA      | $342339.92    | 0.00%             | 2047-04-15      | Variable      | 4.89%                 | Yes           |                  2 | On Loan: No      |
| Zalando SE                                                                  | Zalando SE, Series B                                                                                   | CUSIP: N/A<br>LEI: 529900YRFFGH5AXU4S86       | Long             | DBT              | CORP              | DE        |    800000 | PA      | $731104.03    | 0.01%             | 2027-08-06      | Fixed         | 0.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of El Salvador                                                     | Republic of El Salvador                                                                                | CUSIP: N/A<br>LEI: 529900AKDMUSFSDOM949       | Long             | DBT              | NUSS              | SV        |    750000 | PA      | $411000.00    | 0.00%             | 2027-01-18      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-25CB, Class A2                                                     | CUSIP: 02147VAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    201397 | PA      | $116117.73    | 0.00%             | 2036-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                                   | EQM Midstream Partners LP                                                                              | CUSIP: 26885BAK6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   4131000 | PA      | $3623134.86   | 0.03%             | 2029-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Guangdong Investment Ltd.                                                   | Guangdong Investment Ltd.                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |   2818000 | NS      | $3061528.86   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series RR                                                                       | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1305000 | PA      | $1184418.00   | 0.01%             | 2027-01-27      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                                         | Buckeye Partners LP, 1st Lien Term Loan B-1                                                            | CUSIP: 11823LAK1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | LON              | CORP              | US        |    668078 | PA      | $667870.59    | 0.01%             | 2026-11-01      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                               | Comcast Corp.                                                                                          | CUSIP: 20030NEB3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     60000 | PA      | $64590.16     | 0.00%             | 2032-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                                    | Cooperatieve Rabobank UA                                                                               | CUSIP: N/A<br>LEI: DG3RU1DBUFHT4ZF9WN62       | Long             | DBT              | CORP              | NL        |   7200000 | PA      | $7213257.72   | 0.07%             | 2027-06-29      | Variable      | 4.37%                 | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc.                                                                                         | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   5424000 | PA      | $5592040.73   | 0.05%             | 2083-01-15      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| Dexia Credit Local SA                                                       | Dexia Credit Local SA                                                                                  | CUSIP: 25215WRL3<br>LEI: F4G136OIPBYND1F41110 | Long             | STIV             | CORP              | FR        |   1850000 | PA      | $1831028.92   | 0.02%             | 2023-04-20      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Vertex Aerospace Services Corp.                                             | Vertex Aerospace Services Corp., 1st Lien Term Loan B                                                  | CUSIP: 92532MAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    470445 | PA      | $468328.00    | 0.00%             | 2028-12-06      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KF58, Class B                                                        | CUSIP: 302986AC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    906093 | PA      | $832583.70    | 0.01%             | 2026-01-25      | Floating      | 6.54%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                                          | Republic of Turkey                                                                                     | CUSIP: 900123CK4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $176500.00    | 0.00%             | 2026-10-09      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                                             | CUSIP: 45174HBC0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   2800457 | PA      | $2675556.62   | 0.03%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Alfa SAB de CV                                                              | Alfa SAB de CV                                                                                         | CUSIP: 015398AC4<br>LEI: 549300ZCGJ6T8YDJ4M34 | Long             | DBT              | CORP              | MX        |    382000 | PA      | $388565.63    | 0.00%             | 2044-03-25      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCP5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    420000 | PA      | $379281.00    | 0.00%             | 2029-01-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR25, Class D                                                   | CUSIP: 12593PBB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1620594.00   | 0.02%             | 2048-08-10      | Variable      | 3.77%                 | No            |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2003-QS20, Class CB                                                                 | CUSIP: 76110HMB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2974 | PA      | $1932.99      | 0.00%             | 2018-11-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Yara International ASA                                                      | Yara International ASA                                                                                 | CUSIP: N/A<br>LEI: 213800WKOUWXWFJ5Z514       | Long             | EC               | CORP              | NO        |     35200 | NS      | $1563982.53   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Emerson Electric Co.                                                        | Emerson Electric Co.                                                                                   | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     72330 | NS      | $6525612.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| American Builders & Contractors Supply Co., Inc.                            | American Builders & Contractors Supply Co., Inc.                                                       | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |   3195000 | PA      | $2910868.65   | 0.03%             | 2028-01-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                                       | Spectrum Brands, Inc.                                                                                  | CUSIP: 84762LAV7<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   2486000 | PA      | $2190565.82   | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| SoftBank Corp.                                                              | SoftBank Corp.                                                                                         | CUSIP: N/A<br>LEI: 353800M1YCTS9JRBJ535       | Long             | EC               | CORP              | JP        |    809900 | NS      | $9266958.46   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                          | Morgan Stanley Mortgage Loan Trust, Series 2007-5AX, Class 2A2                                         | CUSIP: 61751GAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2832128 | PA      | $726765.71    | 0.01%             | 2037-02-25      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    977000 | PA      | $621264.53    | 0.01%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Abu Dhabi National Oil Co.                                                  | Abu Dhabi National Oil Co.                                                                             | CUSIP: N/A<br>LEI: 5493009O1JMLWDLTIC26       | Long             | DBT              | CORP              | AE        |    600000 | PA      | $569100.00    | 0.01%             | 2024-06-04      | Fixed         | 0.70%                 | Yes           |                  2 | On Loan: No      |
| Covestro AG                                                                 | Covestro AG                                                                                            | CUSIP: N/A<br>LEI: 3912005AWHKLQ1CPLV11       | Long             | EC               | CORP              | DE        |     76456 | NS      | $3520379.95   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: —       |
| Nippon Telegraph & Telephone Corp.                                          | Nippon Telegraph & Telephone Corp.                                                                     | CUSIP: N/A<br>LEI: 353800VHQU5VIXVUA841       | Long             | EC               | CORP              | JP        |    294800 | NS      | $8839732.49   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Volvo AB                                                                    | Volvo AB, Class B                                                                                      | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |   1273404 | NS      | $25268818.62  | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: 65412JAC7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    750000 | PA      | $615000.00    | 0.01%             | 2027-11-28      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Costa Rica                                                      | Republic of Costa Rica                                                                                 | CUSIP: N/A<br>LEI: 549300S1EK2VN6XVJP58       | Long             | DBT              | NUSS              | CR        |   1100000 | PA      | $1064112.50   | 0.01%             | 2044-04-04      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                                   | Sunoco LP                                                                                              | CUSIP: 86765LAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    423000 | PA      | $414540.00    | 0.00%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                                               | Staples, Inc.                                                                                          | CUSIP: 855030AP7<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   6459000 | PA      | $4892692.50   | 0.05%             | 2027-04-15      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    720000 | PA      | $703485.00    | 0.01%             | 2026-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                          | Renaissance Home Equity Loan Trust, Series 2002-3, Class M1                                            | CUSIP: 75970NAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    356224 | PA      | $323543.77    | 0.00%             | 2032-12-25      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Co.                                                     | Southwestern Energy Co.                                                                                | CUSIP: 845467AT6<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    888000 | PA      | $782789.76    | 0.01%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                         | American Axle & Manufacturing, Inc.                                                                    | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   2629000 | PA      | $2165144.76   | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Republic of Paraguay                                                        | Republic of Paraguay                                                                                   | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |   1380000 | PA      | $1364302.50   | 0.01%             | 2044-08-11      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Mallinckrodt plc                                                            | Mallinckrodt plc                                                                                       | CUSIP: N/A<br>LEI: 549300LMDE3RUP8Z3L60       | Long             | EC               | CORP              | IE        |     71599 | NS      | $536992.50    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co.                                                                      | 3M Co.                                                                                                 | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |     46944 | NS      | $5402315.52   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chegg, Inc.                                                                 | Chegg, Inc.                                                                                            | CUSIP: 163092AF6<br>LEI: 549300AKX7O8JG0O3G77 | Long             | DBT              | CORP              | US        |   1646000 | PA      | $1293097.60   | 0.01%             | 2026-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Paraguay Government International Bond                                      | Republic of Paraguay                                                                                   | CUSIP: 699149AH3<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    950000 | PA      | $845678.13    | 0.01%             | 2050-03-30      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| CSX Corp.                                                                   | CSX Corp.                                                                                              | CUSIP: 126408HU0<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |     72000 | PA      | $69930.27     | 0.00%             | 2032-11-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |   2020000 | PA      | $1656400.00   | 0.02%             | 2027-11-28      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Raytheon Technologies Corp.                                                 | Raytheon Technologies Corp.                                                                            | CUSIP: 75513ECM1<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    329000 | PA      | $268151.25    | 0.00%             | 2031-09-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                      | Velocity Commercial Capital Loan Trust, Series 2018-2, Class M3                                        | CUSIP: 92259BAK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    236352 | PA      | $197238.56    | 0.00%             | 2048-10-26      | Variable      | 4.72%                 | Yes           |                  2 | On Loan: No      |
| Advanced Micro Devices, Inc.                                                | Advanced Micro Devices, Inc.                                                                           | CUSIP: 007903BF3<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |     60000 | PA      | $57367.38     | 0.00%             | 2032-06-01      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| Carlsberg A/S                                                               | Carlsberg A/S, Class B                                                                                 | CUSIP: N/A<br>LEI: 5299001O0WJQYB5GYZ19       | Long             | EC               | CORP              | DK        |     72435 | NS      | $10282994.60  | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2019-C52, Class XA                                       | CUSIP: 95002MAY5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3734371 | PA      | $264125.37    | 0.00%             | 2052-08-15      | Variable      | 1.60%                 | No            |                  2 | On Loan: No      |
| Telkom Indonesia Persero Tbk. PT                                            | Telkom Indonesia Persero Tbk. PT                                                                       | CUSIP: N/A<br>LEI: 529900M5SQZAOKV1PC81       | Long             | EC               | CORP              | ID        |  53490400 | NS      | $13823669.93  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                               | Netflix, Inc.                                                                                          | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139475.00    | 0.00%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                          | VICI Properties LP                                                                                     | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4688000 | PA      | $4365646.32   | 0.04%             | 2029-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| TotalEnergies SE                                                            | TotalEnergies SE                                                                                       | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |    253735 | NS      | $15686099.36  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Trainline plc                                                               | Trainline plc                                                                                          | CUSIP: N/A<br>LEI: 213800HO26VXTFJ4MO71       | Long             | DBT              | CORP              | GB        |    600000 | PA      | $613138.23    | 0.01%             | 2026-01-14      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2018-K82, Class B                                                         | CUSIP: 30297LAE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1460000 | PA      | $1388575.63   | 0.01%             | 2028-09-25      | Variable      | 4.13%                 | Yes           |                  2 | On Loan: No      |
| Woolworths Group Ltd.                                                       | Woolworths Group Ltd.                                                                                  | CUSIP: N/A<br>LEI: QNWEWQBS7HP85QHXQL92       | Long             | EC               | CORP              | AU        |    181635 | NS      | $4642131.71   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83370RAA6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  10487000 | PA      | $9018080.56   | 0.09%             | 2030-11-18      | Variable      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                    | Angel Oak Mortgage Trust, Series 2019-6, Class B1                                                      | CUSIP: 03464VAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3567039.20   | 0.03%             | 2059-11-25      | Variable      | 3.94%                 | Yes           |                  2 | On Loan: No      |
| Credit Industriel et Commercial                                             | Credit Industriel et Commercial                                                                        | CUSIP: 22536MUK2<br>LEI: N4JDFKKH2FTD8RKFXO39 | Long             | STIV             | CORP              | FR        |   1000000 | PA      | $977105.19    | 0.01%             | 2023-07-19      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Kennedy-Wilson, Inc.                                                        | Kennedy-Wilson, Inc.                                                                                   | CUSIP: 489399AM7<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |   1543000 | PA      | $1258632.82   | 0.01%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IQVIA, Inc.                                                                 | IQVIA, Inc.                                                                                            | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   3836000 | PA      | $3740100.00   | 0.04%             | 2026-10-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Naturgy Energy Group SA                                                     | Naturgy Energy Group SA                                                                                | CUSIP: N/A<br>LEI: TL2N6M87CW970S5SV098       | Long             | EC               | CORP              | ES        |    381792 | NS      | $10828470.54  | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Target Corp.                                                                | Target Corp.                                                                                           | CUSIP: 87612EBP0<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70598.75     | 0.00%             | 2032-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YER2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     90000 | PA      | $87386.50     | 0.00%             | 2028-04-20      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series M                                                                              | CUSIP: 172967HQ7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   8555000 | PA      | $8415981.25   | 0.08%             | 2024-05-15      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: 68205LAS2<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    264000 | PA      | $272877.00    | 0.00%             | 2031-01-25      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Sysco Corp.                                                                 | Sysco Corp.                                                                                            | CUSIP: 871829BK2<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    186000 | PA      | $161242.94    | 0.00%             | 2030-02-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Bid Corp. Ltd.                                                              | Bid Corp. Ltd.                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | ZA        |    335869 | NS      | $6920059.57   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kone OYJ                                                                    | Kone OYJ, Class B                                                                                      | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               | CORP              | FI        |     68456 | NS      | $3733323.79   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                                                    | Engie SA                                                                                               | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |    474071 | NS      | $6731747.56   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Boston Properties, Inc.                                                     | Boston Properties, Inc.                                                                                | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     75477 | NS      | $5626055.58   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BB Seguridade Participacoes SA                                              | BB Seguridade Participacoes SA                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    411787 | NS      | $3071996.08   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BlueMountain CLO Ltd.                                                       | BlueMountain CLO Ltd., Series 2018-3A, Class D                                                         | CUSIP: 09630AAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    685000 | PA      | $594545.75    | 0.01%             | 2030-10-25      | Floating      | 8.07%                 | Yes           |                  2 | On Loan: No      |
| Pike Corp.                                                                  | Pike Corp.                                                                                             | CUSIP: 721283AA7<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |   2448000 | PA      | $2160742.99   | 0.02%             | 2028-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Nippon Life Insurance Co.                                                   | Nippon Life Insurance Co.                                                                              | CUSIP: 654579AH4<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |   3620000 | PA      | $3064746.30   | 0.03%             | 2051-01-21      | Variable      | 2.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4606, Class SB                                                                    | CUSIP: 3137BR5N1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5845288 | PA      | $729933.29    | 0.01%             | 2046-08-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| BT Group plc                                                                | BT Group plc                                                                                           | CUSIP: N/A<br>LEI: 213800LRO7NS5CYQMN21       | Long             | EC               | CORP              | GB        |   1572936 | NS      | $2423413.62   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Brundage-Bone Concrete Pumping Holdings, Inc.                               | Brundage-Bone Concrete Pumping Holdings, Inc.                                                          | CUSIP: 66981QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    314000 | PA      | $299270.26    | 0.00%             | 2026-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| United States Cellular Corp.                                                | United States Cellular Corp.                                                                           | CUSIP: 911684AD0<br>LEI: 549300B164AZXESI6E03 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2325000.00   | 0.02%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| NiSource, Inc.                                                              | NiSource, Inc.                                                                                         | CUSIP: 65473PAG0<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   6587000 | PA      | $6389767.70   | 0.06%             | 2023-06-15      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Telefonica SA                                                               | Telefonica SA                                                                                          | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |   2107371 | NS      | $8005944.06   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC                                                  | Outfront Media Capital LLC                                                                             | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1597000 | PA      | $1469021.05   | 0.01%             | 2027-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Bayerische Motoren Werke AG                                                 | Bayerische Motoren Werke AG                                                                            | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               | CORP              | DE        |     47610 | NS      | $4849778.35   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                       | OneMain Finance Corp.                                                                                  | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1184198.40   | 0.01%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                                           | Lowe's Cos., Inc.                                                                                      | CUSIP: 548661EA1<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    166000 | PA      | $142678.47    | 0.00%             | 2031-04-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                         | Exeter Automobile Receivables Trust, Series 2020-3A, Class F                                           | CUSIP: 30166NAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1465339.95   | 0.01%             | 2027-06-15      | Fixed         | 5.56%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2016-C1, Class D                                           | CUSIP: 17290YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4975000 | PA      | $4242947.66   | 0.04%             | 2049-05-10      | Variable      | 4.94%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K116, Class X3                        | CUSIP: 3137FWHW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10500000 | PA      | $1783005.00   | 0.02%             | 2047-09-25      | Variable      | 3.02%                 | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co. Ltd.                                            | Shinhan Financial Group Co. Ltd.                                                                       | CUSIP: N/A<br>LEI: 988400EB8A6G49E5KO54       | Long             | DBT              | CORP              | KR        |    600000 | PA      | $537000.00    | 0.01%             | 2026-05-12      | Variable      | 2.87%                 | Yes           |                  2 | On Loan: No      |
| NextEra Energy, Inc.                                                        | NextEra Energy, Inc.                                                                                   | CUSIP: 65339F713<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     44690 | NS      | $2142885.50   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC Investment Corp.                                                       | AGNC Investment Corp.                                                                                  | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |    634406 | NS      | $7359109.60   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4839, Class WS                                                                    | CUSIP: 3137FJK99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6673066 | PA      | $951296.28    | 0.01%             | 2056-08-15      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Nestle SA                                                                   | Nestle SA (Registered)                                                                                 | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |    145472 | NS      | $17748901.64  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| ACI Worldwide, Inc.                                                         | ACI Worldwide, Inc.                                                                                    | CUSIP: 004498AB7<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | DBT              | CORP              | US        |   4030000 | PA      | $3979625.00   | 0.04%             | 2026-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K088, Class X3                        | CUSIP: 3137FL6H2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11130000 | PA      | $1264479.30   | 0.01%             | 2047-02-25      | Variable      | 2.35%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                                              | Citizens Financial Group, Inc., Series G                                                               | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   6650000 | PA      | $5761716.54   | 0.06%             | 2026-10-06      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Stagwell Global LLC                                                         | Stagwell Global LLC                                                                                    | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4631000 | PA      | $4057913.75   | 0.04%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| KBC Group NV                                                                | KBC Group NV                                                                                           | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |    111021 | NS      | $8223027.68   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Tire Corp. Ltd.                                                    | Canadian Tire Corp. Ltd., Class A                                                                      | CUSIP: 136681202<br>LEI: 549300RLHDA7VQYMUB14 | Long             | EC               | CORP              | CA        |     22780 | NS      | $2708501.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hasbro, Inc.                                                                | Hasbro, Inc.                                                                                           | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |     73668 | NS      | $4358935.56   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |    300000 | PA      | $282750.00    | 0.00%             | 2028-05-09      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-10, Class 5A3                              | CUSIP: 225470EE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275188 | PA      | $209030.66    | 0.00%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                                                | Upstart Securitization Trust, Series 2022-1, Class C                                                   | CUSIP: 91679WAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $949343.52    | 0.01%             | 2032-03-20      | Fixed         | 5.71%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Finance plc                                                    | Virgin Media Finance plc                                                                               | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |    635000 | PA      | $533012.65    | 0.01%             | 2030-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Fortis, Inc.                                                                | Fortis, Inc.                                                                                           | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |    226562 | NS      | $9309041.03   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2013-124, Class SB                                                                 | CUSIP: 3136AHGQ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2892413 | PA      | $297032.33    | 0.00%             | 2043-12-25      | Floating      | 1.44%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2018-COR3, Class D                                                   | CUSIP: 12595VAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1338306.80   | 0.01%             | 2051-05-10      | Variable      | 2.81%                 | Yes           |                  2 | On Loan: No      |
| China Overseas Land & Investment Ltd.                                       | China Overseas Land & Investment Ltd.                                                                  | CUSIP: N/A<br>LEI: 529900I6W35GYKRIZ151       | Long             | EC               | CORP              | HK        |   1047500 | NS      | $2828534.32   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Capital Power Corp.                                                         | Capital Power Corp.                                                                                    | CUSIP: 14042M102<br>LEI: 549300QRKTEXGXYVPO80 | Long             | EC               | CORP              | CA        |     74920 | NS      | $2517510.20   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN16, Class F                                                                        | CUSIP: 065405AQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1137472.40   | 0.01%             | 2052-02-15      | Variable      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Graham Packaging Co., Inc.                                                  | Graham Packaging Co., Inc.                                                                             | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |    676000 | PA      | $590817.04    | 0.01%             | 2028-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Morocco                                                          | Kingdom of Morocco                                                                                     | CUSIP: 617726AL8<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    690000 | PA      | $551137.50    | 0.01%             | 2032-12-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |     10000 | PA      | $9537.50      | 0.00%             | 2047-03-08      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K727, Class X3                        | CUSIP: 3137FARH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  33817571 | PA      | $914663.84    | 0.01%             | 2044-10-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B SARL                                                   | Summer (BC) Holdco B SARL, 1st Lien Term Loan B                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    314881 | PA      | $293626.23    | 0.00%             | 2026-12-04      | Variable      | 9.23%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                 | Caesars Entertainment, Inc.                                                                            | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   4759000 | PA      | $4740668.33   | 0.05%             | 2025-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC, 1st Lien Term Loan B                                                                      | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    345731 | PA      | $326031.34    | 0.00%             | 2027-07-31      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                                                         | CUSIP: 09659W2C7<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2155000 | PA      | $2031573.91   | 0.02%             | 2027-11-16      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Pinnacle West Capital Corp.                                                 | Pinnacle West Capital Corp.                                                                            | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |    130663 | NS      | $9740926.65   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SRS Distribution, Inc.                                                      | SRS Distribution, Inc.                                                                                 | CUSIP: 78471RAB2<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |   5280000 | PA      | $4823494.84   | 0.05%             | 2028-07-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                              | JELD-WEN, Inc.                                                                                         | CUSIP: 475795AC4<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |   2505000 | PA      | $2216925.00   | 0.02%             | 2025-12-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| WFRBS Commercial Mortgage Trust                                             | WFRBS Commercial Mortgage Trust, Series 2014-C19, Class D                                              | CUSIP: 92938VAA3<br>LEI: 549300FCX3YXSYSLU895 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1373957.25   | 0.01%             | 2047-03-15      | Fixed         | 4.23%                 | Yes           |                  2 | On Loan: No      |
| Boliden AB                                                                  | Boliden AB                                                                                             | CUSIP: N/A<br>LEI: 21380059QU7IM1ONDJ56       | Long             | EC               | CORP              | SE        |     89100 | NS      | $3998542.32   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Cogent Communications Holdings, Inc.                                        | Cogent Communications Holdings, Inc.                                                                   | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43075 | NS      | $2953652.75   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Discover Financial Services                                                 | Discover Financial Services                                                                            | CUSIP: 254709AL2<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1067957.01   | 0.01%             | 2025-03-04      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Raytheon Technologies Corp.                                                 | Raytheon Technologies Corp.                                                                            | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |    124510 | NS      | $12432323.50  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Industriel et Commercial                                             | Credit Industriel et Commercial                                                                        | CUSIP: 22536MP93<br>LEI: N4JDFKKH2FTD8RKFXO39 | Long             | STIV             | CORP              | FR        |    250000 | PA      | $249720.81    | 0.00%             | 2023-02-09      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Alteryx, Inc.                                                               | Alteryx, Inc.                                                                                          | CUSIP: 02156BAF0<br>LEI: 549300XWZG0JHL7I0827 | Long             | DBT              | CORP              | US        |   1137000 | PA      | $951100.50    | 0.01%             | 2026-08-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Gartner, Inc.                                                               | Gartner, Inc.                                                                                          | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |   2670000 | PA      | $2536473.30   | 0.02%             | 2028-07-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                                                   | HCA, Inc.                                                                                              | CUSIP: 404119BS7<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   9150000 | PA      | $9313921.88   | 0.09%             | 2026-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Unipol Gruppo SpA                                                           | Unipol Gruppo SpA                                                                                      | CUSIP: N/A<br>LEI: 8156005CE5E7340CCA86       | Long             | EC               | CORP              | IT        |    318124 | NS      | $1666130.79   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JSW Steel Ltd.                                                              | JSW Steel Ltd.                                                                                         | CUSIP: N/A<br>LEI: 335800EK6HZSC4CVAJ09       | Long             | DBT              | CORP              | IN        |    400000 | PA      | $352000.00    | 0.00%             | 2027-04-05      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                          | Morgan Stanley Mortgage Loan Trust, Series 2005-4, Class 1A                                            | CUSIP: 61748HJV4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20180 | PA      | $18867.02     | 0.00%             | 2035-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                         | Regal Rexnord Corp.                                                                                    | CUSIP: 758750AD5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $4365426.91   | 0.04%             | 2028-04-15      | Fixed         | 6.05%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280CN7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   3820000 | PA      | $3238405.00   | 0.03%             | 2030-12-17      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| Graham Packaging Co., Inc.                                                  | Graham Packaging Co., Inc., 1st Lien Term Loan                                                         | CUSIP: 38469EAD5<br>LEI: 549300YS0ZFT826HIK72 | Long             | LON              | CORP              | US        |   3371673 | PA      | $3354814.94   | 0.03%             | 2027-08-04      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2004-HE2, Class M1                                      | CUSIP: 59020UKZ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     61287 | PA      | $59770.64     | 0.00%             | 2035-08-25      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2007-19, Class 1A8                                                      | CUSIP: 02151AAH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    135936 | PA      | $70989.55     | 0.00%             | 2037-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Gaztransport Et Technigaz SA                                                | Gaztransport Et Technigaz SA                                                                           | CUSIP: N/A<br>LEI: 969500BVOHVZUUFWDT54       | Long             | EC               | CORP              | FR        |     24024 | NS      | $2656001.08   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Cooper-Standard Automotive, Inc.                                            | Cooper-Standard Automotive, Inc.                                                                       | CUSIP: 216762AJ3<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |   7311000 | PA      | $4587652.50   | 0.04%             | 2027-05-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                                  | Warnermedia Holdings, Inc.                                                                             | CUSIP: 55903VAL7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    135000 | PA      | $120143.90    | 0.00%             | 2032-03-15      | Fixed         | 4.28%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-10CB, Class 1A8                                                    | CUSIP: 12667GBD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1361481 | PA      | $1112206.02   | 0.01%             | 2035-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                                    | Cooperatieve Rabobank UA                                                                               | CUSIP: 21684AAF3<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    694000 | PA      | $663420.88    | 0.01%             | 2026-07-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Shire Acquisitions Investments Ireland DAC                                  | Shire Acquisitions Investments Ireland DAC                                                             | CUSIP: 82481LAD1<br>LEI: 549300XK5HGW68R8K327 | Long             | DBT              | CORP              | IE        |    300000 | PA      | $286717.27    | 0.00%             | 2026-09-23      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series R                                                              | CUSIP: 38144GAB7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    931000 | PA      | $893347.13    | 0.01%             | 2025-02-10      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Duff & Phelps Corp.                                                         | Duff & Phelps Corp., 1st Lien Term Loan B                                                              | CUSIP: 24440EAB3<br>LEI: 549300FDREJLOIGXY104 | Long             | LON              | CORP              | US        |    531375 | PA      | $513154.15    | 0.00%             | 2027-04-09      | Variable      | 8.31%                 | No            |                  2 | On Loan: No      |
| StoneX Group, Inc.                                                          | StoneX Group, Inc.                                                                                     | CUSIP: 46116VAE5<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    123000 | PA      | $123615.00    | 0.00%             | 2025-06-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2019-B9, Class F                                                      | CUSIP: 08160JBC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6590000 | PA      | $3774556.28   | 0.04%             | 2052-03-15      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    748000 | PA      | $756151.20    | 0.01%             | 2029-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-AR3, Class 6A1                                                    | CUSIP: 36242D4W0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     59804 | PA      | $49937.25     | 0.00%             | 2035-05-25      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                                  | Builders FirstSource, Inc.                                                                             | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   3023000 | PA      | $2600528.49   | 0.02%             | 2032-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Senegal                                                         | Republic of Senegal                                                                                    | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |   1000000 | PA      | $865000.00    | 0.01%             | 2033-05-23      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: N/A<br>LEI: 529900LOP29R5WKHOD86       | Long             | DBT              | NUSS              | PK        |    750000 | PA      | $382582.50    | 0.00%             | 2025-09-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc.                                                                               | CUSIP: 550241AA1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   4316000 | PA      | $2989795.23   | 0.03%             | 2029-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: —       |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-5, Class B2                                                    | CUSIP: 92538KAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3750000 | PA      | $2220661.88   | 0.02%             | 2066-09-25      | Variable      | 3.94%                 | Yes           |                  2 | On Loan: No      |
| Group 1 Automotive, Inc.                                                    | Group 1 Automotive, Inc.                                                                               | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    870000 | PA      | $765130.20    | 0.01%             | 2028-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Eaton Corp. plc                                                             | Eaton Corp. plc                                                                                        | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |      5731 | NS      | $929625.51    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Federative Republic of Brazil                                               | Federative Republic of Brazil                                                                          | CUSIP: 105756BW9<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   1230000 | PA      | $963474.38    | 0.01%             | 2045-01-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4594, Class SG                                                                    | CUSIP: 3137BQME4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3104231 | PA      | $424832.37    | 0.00%             | 2046-06-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Mondelez International, Inc.                                                | Mondelez International, Inc., Class A                                                                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     59525 | NS      | $3895316.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hashemite Kingdom of Jordan                                                 | Hashemite Kingdom of Jordan                                                                            | CUSIP: 418097AL5<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |   1810000 | PA      | $1660675.00   | 0.02%             | 2030-07-07      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Accredited Mortgage Loan Trust                                              | Accredited Mortgage Loan Trust, Series 2004-4, Class M1                                                | CUSIP: 004375CG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    447179 | PA      | $412985.14    | 0.00%             | 2035-01-25      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Chase Funding Trust                                                         | Chase Funding Trust, Series 2004-1, Class 2M1                                                          | CUSIP: 161546JA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7075 | PA      | $7061.36      | 0.00%             | 2033-09-25      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                                | AbbVie, Inc.                                                                                           | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    329252 | NS      | $48646983.00  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, STRIPS, Series 300, Class S1                                                                    | CUSIP: 31325TZH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1966418 | PA      | $213681.55    | 0.00%             | 2043-01-15      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Omnicom Group, Inc.                                                         | Omnicom Group, Inc.                                                                                    | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     94220 | NS      | $8101977.80   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                          | Banco Bilbao Vizcaya Argentaria SA                                                                     | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | DBT              | CORP              | ES        |   4000000 | PA      | $4223360.36   | 0.04%             | 2026-01-15      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Global Net Lease, Inc.                                                      | Global Net Lease, Inc.                                                                                 | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $422628.64    | 0.00%             | 2027-12-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc.                                                                                         | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |    241166 | NS      | $9874656.10   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| KDC US Holdings, Inc.                                                       | KDC US Holdings, Inc., 1st Lien Term Loan B                                                            | CUSIP: C4953EAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    522505 | PA      | $511270.69    | 0.00%             | 2025-12-22      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| Vornado Realty Trust                                                        | Vornado Realty Trust                                                                                   | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75186 | NS      | $1833786.54   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Yancoal International Resources Development Co. Ltd.                        | Yancoal International Resources Development Co. Ltd.                                                   | CUSIP: N/A<br>LEI: 549300NE3BHU1LVO3622       | Long             | DBT              | CORP              | HK        |    600000 | PA      | $586425.00    | 0.01%             | 2023-11-04      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-LC21, Class D                                                   | CUSIP: 12593FBJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $381626.51    | 0.00%             | 2048-07-10      | Variable      | 4.33%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-10, Class 2A5            | CUSIP: 93934FGD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1676255 | PA      | $1573604.91   | 0.02%             | 2035-11-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                              | JELD-WEN, Inc.                                                                                         | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $2655542.50   | 0.03%             | 2027-12-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| 180 Medical, Inc.                                                           | 180 Medical, Inc.                                                                                      | CUSIP: 682357AA6<br>LEI: 254900ZB648OPWVFVX59 | Long             | DBT              | CORP              | US        |   2570000 | PA      | $2277691.93   | 0.02%             | 2029-10-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Kraft Heinz Foods Co.                                                       | Kraft Heinz Foods Co.                                                                                  | CUSIP: 50077LAV8<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    155000 | PA      | $146655.72    | 0.00%             | 2030-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                                               | Federative Republic of Brazil                                                                          | CUSIP: 105756BR0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    950000 | PA      | $835881.25    | 0.01%             | 2041-01-07      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    250000 | PA      | $177812.50    | 0.00%             | 2050-05-29      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC, Term Loan B-10                                                                            | CUSIP: 04649VBB5<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    338290 | PA      | $319683.96    | 0.00%             | 2028-08-19      | Variable      | 8.68%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets, Inc.                                              | Citigroup Global Markets, Inc.                                                                         | CUSIP: 17327AA80<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | STIV             | CORP              | US        |    589000 | PA      | $560709.15    | 0.01%             | 2024-01-08      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Diamond Sports Group LLC                                                    | Diamond Sports Group LLC                                                                               | CUSIP: 25277LAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5398000 | PA      | $398102.50    | 0.00%             | 2026-08-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corp.                                                             | Air Lease Corp.                                                                                        | CUSIP: 00914AAF9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1530000 | PA      | $1439457.20   | 0.01%             | 2025-02-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co., Series S                                                                            | CUSIP: 949746RG8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4432000 | PA      | $4337820.00   | 0.04%             | 2024-06-15      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                                             | Madison IAQ LLC                                                                                        | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |   4259000 | PA      | $3378409.16   | 0.03%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                                                 | Cheniere Energy Partners LP                                                                            | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $897160.00    | 0.01%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                            | CVS Health Corp.                                                                                       | CUSIP: 126650DG2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     85000 | PA      | $77979.55     | 0.00%             | 2029-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HV5<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   3395000 | PA      | $1152602.50   | 0.01%             | 2041-07-09      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                                             | Nordea Bank Abp                                                                                        | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |   1736158 | NS      | $20296359.63  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                                         | Union Pacific Corp.                                                                                    | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     57735 | NS      | $11788909.65  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Country Garden Holdings Co. Ltd.                                            | Country Garden Holdings Co. Ltd.                                                                       | CUSIP: N/A<br>LEI: 549300MGHLPT1EFHGF84       | Long             | DBT              | CORP              | KY        |   3600000 | PA      | $2439000.00   | 0.02%             | 2027-01-14      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CLP Holdings Ltd.                                                           | CLP Holdings Ltd.                                                                                      | CUSIP: N/A<br>LEI: 25490002BUTSMP94GO68       | Long             | EC               | CORP              | HK        |    318500 | NS      | $2366433.40   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Southwestern Energy Co.                                                     | Southwestern Energy Co.                                                                                | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |   4219000 | PA      | $3928943.75   | 0.04%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-149, Class QS                                                                        | CUSIP: 38380HRV6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2441253 | PA      | $286200.07    | 0.00%             | 2047-10-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                                     | Fremont Home Loan Trust, Series 2004-D, Class M2                                                       | CUSIP: 35729PGD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    218784 | PA      | $203968.63    | 0.00%             | 2034-11-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Brooks Automation                                                           | Brooks Automation, 1st Lien Term Loan B                                                                | CUSIP: 02090CAE0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1245002 | PA      | $1214661.29   | 0.01%             | 2029-02-01      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                                     | GFL Environmental, Inc.                                                                                | CUSIP: 36168QAK0<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   3703000 | PA      | $3518775.75   | 0.03%             | 2025-08-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| National Bank of Canada                                                     | National Bank of Canada, ELN, (linked to Nasdaq 100 Index)                                             | CUSIP: 63306A734<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | SN               | CORP              | CA        |      9115 | PA      | $108309443.25 | 1.04%             | 2023-04-04      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                            | Bank of Montreal                                                                                       | CUSIP: 06368LGU4<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   4215000 | PA      | $4243030.64   | 0.04%             | 2024-12-12      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| PRPM LLC                                                                    | PRPM LLC, Series 2021-7, Class A2                                                                      | CUSIP: 69360LAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5030000 | PA      | $4378063.21   | 0.04%             | 2026-08-25      | Variable      | 3.67%                 | Yes           |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                                   | EQM Midstream Partners LP                                                                              | CUSIP: 26885BAH3<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2405924.50   | 0.02%             | 2027-07-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                                                         | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1845000 | PA      | $2003670.00   | 0.02%             | 2027-11-17      | Variable      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Marathon Petroleum Corp.                                                    | Marathon Petroleum Corp.                                                                               | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     62741 | NS      | $8063473.32   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank AG                                                            | Deutsche Bank AG                                                                                       | CUSIP: 251526CE7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   5655000 | PA      | $5101578.18   | 0.05%             | 2026-11-24      | Variable      | 2.13%                 | No            |                  2 | On Loan: —       |
| WR Grace Holdings LLC                                                       | WR Grace Holdings LLC                                                                                  | CUSIP: 92943GAC5<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1004950.00   | 0.01%             | 2024-10-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| John Deere Capital Corp.                                                    | John Deere Capital Corp.                                                                               | CUSIP: 24422EWL9<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60357.13     | 0.00%             | 2032-09-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                                                         | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3356000 | PA      | $3473460.00   | 0.03%             | 2029-08-16      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    700000 | PA      | $609000.00    | 0.01%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                | Royal Caribbean Cruises Ltd.                                                                           | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   4466000 | PA      | $4795501.48   | 0.05%             | 2025-06-01      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                          | Morgan Stanley Mortgage Loan Trust, Series 2004-9, Class 1A                                            | CUSIP: 61748HFT3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    388760 | PA      | $393594.27    | 0.00%             | 2034-11-25      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, (linked to Nasdaq 100 Index)                                                 | CUSIP: 83370G664<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |      9245 | PA      | $108890753.30 | 1.05%             | 2023-04-11      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Pearson plc                                                                 | Pearson plc                                                                                            | CUSIP: N/A<br>LEI: 2138004JBXWWJKIURC57       | Long             | EC               | CORP              | GB        |    196529 | NS      | $2241253.47   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhejiang Supor Co. Ltd.                                                     | Zhejiang Supor Co. Ltd., Class A                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    679362 | NS      | $5207721.80   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                                | Tallgrass Energy Partners LP                                                                           | CUSIP: 87470LAH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7321000 | PA      | $7411312.00   | 0.07%             | 2025-10-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| PACCAR, Inc.                                                                | PACCAR, Inc.                                                                                           | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     70081 | NS      | $7660554.11   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                                                       | NXP Semiconductors NV                                                                                  | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |     85454 | NS      | $15750026.74  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Greenko Dutch BV                                                            | Greenko Dutch BV                                                                                       | CUSIP: N/A<br>LEI: 724500PT585P4JPVRP08       | Long             | DBT              | CORP              | NL        |   1766750 | PA      | $1570199.07   | 0.02%             | 2026-03-29      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2005-20, Class A7                                              | CUSIP: 126694FN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     75848 | PA      | $48972.13     | 0.00%             | 2027-12-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                                    | Energizer Holdings, Inc.                                                                               | CUSIP: 29272WAF6<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   1978000 | PA      | $1929044.50   | 0.02%             | 2027-12-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C14, Class D                           | CUSIP: 61690GAT8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3750000 | PA      | $3586742.63   | 0.03%             | 2047-02-15      | Variable      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| Selena Sarl                                                                 | Selena Sarl, Series PUM                                                                                | CUSIP: N/A<br>LEI: 969500NRAPWZMPGW7689       | Long             | DBT              | CORP              | FR        |    300000 | PA      | $313318.80    | 0.00%             | 2025-06-25      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Baker Hughes Co.                                                            | Baker Hughes Co.                                                                                       | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    219996 | NS      | $6982673.04   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Macquarie Group Ltd.                                                        | Macquarie Group Ltd.                                                                                   | CUSIP: 55608JBA5<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |   1293000 | PA      | $1197669.10   | 0.01%             | 2025-10-14      | Variable      | 1.20%                 | Yes           |                  2 | On Loan: No      |
| OCP SA                                                                      | OCP SA                                                                                                 | CUSIP: N/A<br>LEI: 213800D26TAPVTCVWG40       | Long             | DBT              | NUSS              | MA        |    430000 | PA      | $413875.00    | 0.00%             | 2044-04-25      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| PNMAC GMSR Issuer Trust                                                     | PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A                                                      | CUSIP: 69354WAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3715000 | PA      | $3647957.62   | 0.04%             | 2023-02-25      | Floating      | 7.36%                 | Yes           |                  2 | On Loan: No      |
| Brink's Co. (The)                                                           | Brink's Co. (The)                                                                                      | CUSIP: 109696AB0<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |   1890000 | PA      | $1862122.50   | 0.02%             | 2025-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Fidelity National Information Services, Inc.                                | Fidelity National Information Services, Inc.                                                           | CUSIP: 31620MBT2<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |    200000 | PA      | $163967.15    | 0.00%             | 2031-03-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Outokumpu OYJ                                                               | Outokumpu OYJ                                                                                          | CUSIP: N/A<br>LEI: 5493009YRUJJDCFF0R80       | Long             | EC               | CORP              | FI        |    486691 | NS      | $2787067.18   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Virtusa Corp.                                                               | Virtusa Corp., 1st Lien Term Loan B                                                                    | CUSIP: 92828KAN2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    181137 | PA      | $179099.66    | 0.00%             | 2029-02-15      | Variable      | 8.41%                 | No            |                  2 | On Loan: No      |
| Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates | Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2002-AR1, Class M1 | CUSIP: 03072SDB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135380 | PA      | $130879.98    | 0.00%             | 2032-09-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The), Series 2                                                                    | CUSIP: 0641598N9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   1900000 | PA      | $1501911.70   | 0.01%             | 2081-10-27      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                 | Capital One Financial Corp.                                                                            | CUSIP: 14040HCA1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    916000 | PA      | $905911.39    | 0.01%             | 2024-01-29      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                                                      | Howmet Aerospace, Inc.                                                                                 | CUSIP: 013817AJ0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   4185000 | PA      | $4258237.50   | 0.04%             | 2027-02-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| CoreCivic, Inc.                                                             | CoreCivic, Inc.                                                                                        | CUSIP: 21871NAB7<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |   4488000 | PA      | $4588681.91   | 0.04%             | 2026-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| APX Group, Inc.                                                             | APX Group, Inc.                                                                                        | CUSIP: 00213MAW4<br>LEI: 549300OMQVKPRU98OE64 | Long             | DBT              | CORP              | US        |   1267000 | PA      | $1096037.96   | 0.01%             | 2029-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| NetApp, Inc.                                                                | NetApp, Inc.                                                                                           | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |     82442 | NS      | $5460133.66   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-28CB, Class 2A4                                                    | CUSIP: 12667FYL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    291822 | PA      | $270381.66    | 0.00%             | 2035-01-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                | DaVita, Inc.                                                                                           | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $6318750.00   | 0.06%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C31, Class C                           | CUSIP: 61766RBE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1440000 | PA      | $1170083.52   | 0.01%             | 2049-11-15      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Korn Ferry                                                                  | Korn Ferry                                                                                             | CUSIP: 50067PAA7<br>LEI: 549300FOD20OM0GT5G40 | Long             | DBT              | CORP              | US        |    450000 | PA      | $423000.00    | 0.00%             | 2027-12-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Cellnex Telecom SA                                                          | Cellnex Telecom SA                                                                                     | CUSIP: N/A<br>LEI: 5493008T4YG3AQUI7P67       | Long             | EC               | CORP              | ES        |     69468 | NS      | $2722312.59   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc., Series 16-A                                                                            | CUSIP: 29250NAN5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   2237000 | PA      | $2125576.01   | 0.02%             | 2077-01-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| ILFC E-Capital Trust I                                                      | ILFC E-Capital Trust I                                                                                 | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | SN               | CORP              | US        |   7148000 | PA      | $4592590.00   | 0.04%             | 2065-12-21      | Floating      | 6.29%                 | Yes           |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                                       | WMG Acquisition Corp., 1st Lien Term Loan G                                                            | CUSIP: 92929LAV0<br>LEI: 549300NAS11NXI33CP80 | Long             | LON              | CORP              | US        |    884194 | PA      | $882257.61    | 0.01%             | 2028-01-20      | Variable      | 6.69%                 | No            |                  2 | On Loan: No      |
| Thor Industries, Inc.                                                       | Thor Industries, Inc.                                                                                  | CUSIP: 885160AA9<br>LEI: 254900XZO1228PDSG060 | Long             | DBT              | CORP              | US        |   1247000 | PA      | $1036905.44   | 0.01%             | 2029-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: —       |
| GNMA                                                                        | GNMA, Series 2019-69, Class DS                                                                         | CUSIP: 38381WQJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2213307 | PA      | $234922.87    | 0.00%             | 2049-06-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series TT                                                                       | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4375000 | PA      | $4379375.00   | 0.04%             | 2027-04-27      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Atco Ltd.                                                                   | Atco Ltd., Class I                                                                                     | CUSIP: 046789400<br>LEI: 5299005SPZ1QYL51JD25 | Long             | EC               | CORP              | CA        |     78658 | NS      | $2503009.82   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Svenska Handelsbanken AB                                                    | Svenska Handelsbanken AB                                                                               | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | DBT              | CORP              | SE        |   3200000 | PA      | $2739641.60   | 0.03%             | 2031-03-01      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Cable One, Inc.                                                             | Cable One, Inc.                                                                                        | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |   1284000 | PA      | $1058693.18   | 0.01%             | 2030-11-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: —       |
| United States of America                                                    | U.S. Treasury Notes                                                                                    | CUSIP: 91282CDV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  94685200 | PA      | $91119710.44  | 0.88%             | 2024-01-31      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR22, Class D                                                   | CUSIP: 12592XAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $866056.80    | 0.01%             | 2048-03-10      | Variable      | 4.07%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2019-38, Class SN                                                                         | CUSIP: 38381RT74<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5443115 | PA      | $683407.00    | 0.01%             | 2049-03-20      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| ACCO Brands Corp.                                                           | ACCO Brands Corp.                                                                                      | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |   5180000 | PA      | $4480984.90   | 0.04%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                        | Frontier Communications Holdings LLC                                                                   | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1289000 | PA      | $1105317.50   | 0.01%             | 2029-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Topsports International Holdings Ltd.                                       | Topsports International Holdings Ltd.                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |   3743000 | NS      | $3526890.95   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Tele2 AB                                                                    | Tele2 AB, Class B                                                                                      | CUSIP: N/A<br>LEI: 213800EKD193RVI9HL76       | Long             | EC               | CORP              | SE        |    960368 | NS      | $8294244.66   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| TEGNA, Inc.                                                                 | TEGNA, Inc.                                                                                            | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    582000 | PA      | $546234.65    | 0.01%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2006-QS4, Class A2                                                                  | CUSIP: 749228AB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1019035 | PA      | $800015.36    | 0.01%             | 2036-04-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EP Energy Corp.                                                             | EP Energy Corp.                                                                                        | CUSIP: 268785201<br>LEI: 549300Z6HPQS1H5IYQ07 | Long             | EC               | CORP              | US        |    141141 | NS      | $987987.00    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83368RAV4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   2225000 | PA      | $2111903.36   | 0.02%             | 2025-01-22      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Quest Software US Holdings, Inc.                                            | Quest Software US Holdings, Inc., 1st Lien Term Loan B                                                 | CUSIP: 74834YAN2<br>LEI: 549300LMV4JEXTGLE324 | Long             | LON              | CORP              | US        |    557200 | PA      | $477202.80    | 0.00%             | 2029-02-01      | Variable      | 9.08%                 | No            |                  2 | On Loan: No      |
| Catalent Pharma Solutions, Inc.                                             | Catalent Pharma Solutions, Inc.                                                                        | CUSIP: 14879EAE8<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |   2038000 | PA      | $1927497.42   | 0.02%             | 2027-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                                    | Comstock Resources, Inc.                                                                               | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   2412000 | PA      | $2068290.00   | 0.02%             | 2030-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                                                  | Edgewell Personal Care Co.                                                                             | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |   1740000 | PA      | $1647797.40   | 0.02%             | 2028-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Bway Holding Co.                                                            | Bway Holding Co., 1st Lien Term Loan                                                                   | CUSIP: 05604XAP1<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |   6951619 | PA      | $6882103.23   | 0.07%             | 2024-04-03      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series V                                                                              | CUSIP: 172967MK4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2596000 | PA      | $2371900.04   | 0.02%             | 2025-01-30      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance BV                                                 | Petrobras Global Finance BV                                                                            | CUSIP: 71647NAN9<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $258750.00    | 0.00%             | 2115-06-05      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                         | Exeter Automobile Receivables Trust, Series 2021-4A, Class E                                           | CUSIP: 30165JAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1070000 | PA      | $964592.27    | 0.01%             | 2028-01-17      | Fixed         | 4.02%                 | Yes           |                  2 | On Loan: No      |
| NWD MTN Ltd.                                                                | NWD MTN Ltd.                                                                                           | CUSIP: N/A<br>LEI: 254900STSWBVJ5FV9O74       | Long             | DBT              | CORP              | VG        |   1600000 | PA      | $1372976.00   | 0.01%             | 2029-07-18      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| OCI NV                                                                      | OCI NV                                                                                                 | CUSIP: N/A<br>LEI: 549300NCMRGIBJYUOE57       | Long             | EC               | CORP              | NL        |     88341 | NS      | $3007167.63   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Physicians Realty LP                                                        | Physicians Realty LP                                                                                   | CUSIP: 71951QAC6<br>LEI: 549300P6Q1UMT0X60U20 | Long             | DBT              | CORP              | US        |     20000 | PA      | $16663.03     | 0.00%             | 2031-11-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| CNX Resources Corp.                                                         | CNX Resources Corp.                                                                                    | CUSIP: 12653CAK4<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |   2096000 | PA      | $2038339.04   | 0.02%             | 2031-01-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: —       |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2021-SAVE, Class E                                       | CUSIP: 95003LAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1818044 | PA      | $1619669.29   | 0.02%             | 2040-02-15      | Floating      | 8.11%                 | Yes           |                  2 | On Loan: No      |
| CommScope, Inc.                                                             | CommScope, Inc.                                                                                        | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   4545000 | PA      | $3783076.20   | 0.04%             | 2029-09-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2120000 | PA      | $2166480.02   | 0.02%             | 2038-01-19      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| LGI Homes, Inc.                                                             | LGI Homes, Inc.                                                                                        | CUSIP: 50187TAF3<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |    305000 | PA      | $247050.00    | 0.00%             | 2029-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: —       |
| Icahn Enterprises LP                                                        | Icahn Enterprises LP                                                                                   | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1248000 | PA      | $1086774.00   | 0.01%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2017-P7, Class C                                           | CUSIP: 17325HBT0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3295000 | PA      | $2842881.85   | 0.03%             | 2050-04-14      | Variable      | 4.41%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                                   | EQM Midstream Partners LP                                                                              | CUSIP: 26885BAM2<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   2485000 | PA      | $2484944.61   | 0.02%             | 2027-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies, Inc.                                                      | BWX Technologies, Inc.                                                                                 | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   4624000 | PA      | $4138615.58   | 0.04%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| AltaGas Ltd.                                                                | AltaGas Ltd.                                                                                           | CUSIP: 021361100<br>LEI: 549300D7A8QA85Z2MH11 | Long             | EC               | CORP              | CA        |    107902 | NS      | $2017663.19   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| National CineMedia LLC                                                      | National CineMedia LLC                                                                                 | CUSIP: 63530QAJ8<br>LEI: 7LJEQIVQVLNGS4X6T547 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $316400.00    | 0.00%             | 2028-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                                       | Lockheed Martin Corp.                                                                                  | CUSIP: 539830BV0<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    116000 | PA      | $120388.65    | 0.00%             | 2027-11-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                                | Hess Midstream Operations LP                                                                           | CUSIP: 428102AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3945000 | PA      | $3906023.40   | 0.04%             | 2026-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| MDC Holdings, Inc.                                                          | MDC Holdings, Inc.                                                                                     | CUSIP: 552676AU2<br>LEI: 5299005FV4VNV75R8R35 | Long             | DBT              | CORP              | US        |    190000 | PA      | $145048.73    | 0.00%             | 2031-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                                            | Altice France SA                                                                                       | CUSIP: 02156LAC5<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    370000 | PA      | $307292.40    | 0.00%             | 2028-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Sharp Corp.                                                                 | Sharp Corp.                                                                                            | CUSIP: N/A<br>LEI: 353800YEPK9PD7QO3449       | Long             | EC               | CORP              | JP        |    331900 | NS      | $2758776.92   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| EOG Resources, Inc.                                                         | EOG Resources, Inc.                                                                                    | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     78358 | NS      | $10362845.50  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Shutterfly, Inc.                                                            | Shutterfly, Inc., 1st Lien Term Loan B                                                                 | CUSIP: 82568QAN4<br>LEI: 549300I1C8WJQ5FZE154 | Long             | LON              | CORP              | US        |   3469200 | PA      | $1729014.60   | 0.02%             | 2026-09-25      | Variable      | 9.38%                 | No            |                  2 | On Loan: No      |
| ATS Corp.                                                                   | ATS Corp.                                                                                              | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |   1373000 | PA      | $1229974.59   | 0.01%             | 2028-12-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                       | Gilead Sciences, Inc.                                                                                  | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     83413 | NS      | $7001687.22   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTR Alternative Loan Trust                                                | MASTR Alternative Loan Trust, Series 2005-5, Class 3A1                                                 | CUSIP: 576434T20<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    202961 | PA      | $109480.53    | 0.00%             | 2035-08-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR14, Class 1A3                             | CUSIP: 92922F4C9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    860050 | PA      | $802356.95    | 0.01%             | 2035-12-25      | Variable      | 3.89%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp.                                                           | Duke Energy Corp.                                                                                      | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     93194 | NS      | $9547725.30   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Transocean Poseidon Ltd.                                                    | Transocean Poseidon Ltd.                                                                               | CUSIP: 89383JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1918312 | PA      | $1913804.47   | 0.02%             | 2027-02-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: —       |
| Unity Software, Inc.                                                        | Unity Software, Inc.                                                                                   | CUSIP: 91332UAB7<br>LEI: 549300D1ESJMGNQNG432 | Long             | DBT              | CORP              | US        |    384000 | PA      | $296064.00    | 0.00%             | 2026-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                | DaVita, Inc., 1st Lien Term Loan B                                                                     | CUSIP: 23918VAY0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    632080 | PA      | $624179.23    | 0.01%             | 2026-08-12      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Chase Funding Trust                                                         | Chase Funding Trust, Series 2004-2, Class 1M1                                                          | CUSIP: 161546JK3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1802983 | PA      | $1706551.25   | 0.02%             | 2035-02-26      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| N/A                                                                         | S&P 500 E-Mini Index                                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       508 | NC      | $3088392.96   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11591000 | PA      | $9413746.56   | 0.09%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| 1011778 BC ULC                                                              | 1011778 BC ULC                                                                                         | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   4015000 | PA      | $3417768.75   | 0.03%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Cheesecake Factory, Inc. (The)                                              | Cheesecake Factory, Inc. (The)                                                                         | CUSIP: 163072AA9<br>LEI: 529900872XMLK10SY247 | Long             | DBT              | CORP              | US        |    740000 | PA      | $643337.50    | 0.01%             | 2026-06-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                                                   | CUSIP: 18453HAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4701000 | PA      | $3999281.73   | 0.04%             | 2028-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: —       |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-J3, Class 4A1                                                      | CUSIP: 021469AL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    333971 | PA      | $312352.13    | 0.00%             | 2026-05-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                          | Banco Bilbao Vizcaya Argentaria SA                                                                     | CUSIP: 05946KAK7<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   6600000 | PA      | $6636027.02   | 0.06%             | 2026-09-14      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| Ontario Teachers' Finance Trust                                             | Ontario Teachers' Finance Trust                                                                        | CUSIP: 68328HQ98<br>LEI: 635400ZZE5J8OXXBBY26 | Long             | STIV             | CORP              | CA        |    343000 | PA      | $341405.52    | 0.00%             | 2023-03-09      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KW09, Class X2A                                                      | CUSIP: 30298GAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        | 282340063 | PA      | $1175720.49   | 0.01%             | 2029-05-25      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                                    | UnitedHealth Group, Inc.                                                                               | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     25489 | NS      | $12723853.91  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Kenya                                                           | Republic of Kenya                                                                                      | CUSIP: 491798AL8<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    483000 | PA      | $371910.00    | 0.00%             | 2034-01-23      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Capital & Counties Properties plc                                           | Capital & Counties Properties plc                                                                      | CUSIP: N/A<br>LEI: 549300TTXXZ1SHUI0D54       | Long             | DBT              | CORP              | GB        |    500000 | PA      | $542145.79    | 0.01%             | 2026-03-30      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2018-63, Class SB                                                                         | CUSIP: 38380WUP2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    959490 | PA      | $115416.91    | 0.00%             | 2048-04-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| KNDL Mortgage Trust                                                         | KNDL Mortgage Trust, Series 2019-KNSQ, Class E                                                         | CUSIP: 482598AN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2040000 | PA      | $2009196.00   | 0.02%             | 2036-05-15      | Floating      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| ICON Luxembourg SARL                                                        | ICON Luxembourg SARL, 1st Lien Term Loan B                                                             | CUSIP: L5000DAC1<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | LU        |    426886 | PA      | $426728.49    | 0.00%             | 2028-07-03      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Bank Ltd.                                                            | Mizuho Bank Ltd.                                                                                       | CUSIP: 60710RBH7<br>LEI: RB0PEZSDGCO3JS6CEU02 | Long             | STIV             | CORP              | JP        |   1059000 | PA      | $1060195.77   | 0.01%             | 2023-12-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2005-30, Class A5                                              | CUSIP: 126694TU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    116455 | PA      | $74863.44     | 0.00%             | 2036-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2605000 | PA      | $1992805.75   | 0.02%             | 2031-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Lebanese Republic                                                           | Lebanese Republic                                                                                      | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |   2215000 | PA      | $138437.50    | 0.00%             | 2028-11-03      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| Oncor Electric Delivery Co. LLC                                             | Oncor Electric Delivery Co. LLC                                                                        | CUSIP: 68233JCK8<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50508.95     | 0.00%             | 2032-09-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Covivio                                                                     | Covivio                                                                                                | CUSIP: N/A<br>LEI: 969500P8M3W2XX376054       | Long             | EC               | CORP              | FR        |     27215 | NS      | $1868156.20   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Asset-Backed Securities Corp. Home Equity Loan Trust                        | Asset-Backed Securities Corp. Home Equity Loan Trust, Series 2004-HE7, Class M2                        | CUSIP: 04541GMD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    495592 | PA      | $476819.37    | 0.00%             | 2034-10-25      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                                              | Univision Communications, Inc., 1st Lien Term Loan B                                                   | CUSIP: 914908BC1<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |    781650 | PA      | $772856.40    | 0.01%             | 2026-03-15      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Republic of Namibia                                                         | Republic of Namibia                                                                                    | CUSIP: N/A<br>LEI: 549300T6Y4CWK77SML15       | Long             | DBT              | NUSS              | NA        |    400000 | PA      | $377700.00    | 0.00%             | 2025-10-29      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, STRIPS, Series 264, Class S1                                                                    | CUSIP: 31325TL98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1680373 | PA      | $174624.71    | 0.00%             | 2042-07-15      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325DP7<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    600000 | PA      | $529425.00    | 0.01%             | 2029-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2018-KF47, Class B                                                        | CUSIP: 30296WAG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1348273 | PA      | $1319464.35   | 0.01%             | 2025-05-25      | Floating      | 6.39%                 | Yes           |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                                       | Spectrum Brands, Inc.                                                                                  | CUSIP: 84762LAX3<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   3061000 | PA      | $2467870.03   | 0.02%             | 2031-03-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Antero Resources Corp.                                                      | Antero Resources Corp.                                                                                 | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |   1387000 | PA      | $1293377.50   | 0.01%             | 2030-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Red Ventures LLC                                                            | Red Ventures LLC, 1st Lien Term Loan B                                                                 | CUSIP: 75703UAH8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    180050 | PA      | $179632.51    | 0.00%             | 2024-11-08      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| Liberty Interactive LLC                                                     | Liberty Interactive LLC                                                                                | CUSIP: 530715AG6<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |   3709000 | PA      | $1242515.00   | 0.01%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Century Home Equity Loan Trust                                          | New Century Home Equity Loan Trust, Series 2004-4, Class M2                                            | CUSIP: 64352VJK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    257260 | PA      | $251336.43    | 0.00%             | 2035-02-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2019-2, Class F                                   | CUSIP: 02530DAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    510000 | PA      | $508438.79    | 0.00%             | 2026-06-12      | Fixed         | 5.81%                 | Yes           |                  2 | On Loan: No      |
| AT&T, Inc.                                                                  | AT&T, Inc.                                                                                             | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    408000 | PA      | $333153.29    | 0.00%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Enbridge US, Inc.                                                           | Enbridge US, Inc.                                                                                      | CUSIP: 29251VP26<br>LEI: 5493003FRODSVHJWFS32 | Long             | STIV             | CORP              | US        |   1300000 | PA      | $1299655.93   | 0.01%             | 2023-02-02      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PM General Purchaser LLC                                                    | PM General Purchaser LLC                                                                               | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2542000 | PA      | $1944630.00   | 0.02%             | 2028-10-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| PRET LLC                                                                    | PRET LLC, Series 2021-NPL3, Class A2                                                                   | CUSIP: 74143EAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3333000 | PA      | $2803376.63   | 0.03%             | 2051-07-25      | Variable      | 3.72%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                                                | CaixaBank SA                                                                                           | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |    923778 | NS      | $4098766.13   | 0.04%             |  |  |  | No            |                  2 | On Loan: —       |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2021-5, Class B2                                                      | CUSIP: 12598RAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2247000 | PA      | $1487277.39   | 0.01%             | 2066-11-26      | Variable      | 4.13%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Telekom AG                                                         | Deutsche Telekom AG (Registered)                                                                       | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |    816313 | NS      | $18186469.34  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2021-4, Class B1                                          | CUSIP: 24381JAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6000000 | PA      | $4336545.60   | 0.04%             | 2066-11-25      | Variable      | 4.16%                 | Yes           |                  2 | On Loan: No      |
| Cooper-Standard Automotive, Inc.                                            | Cooper-Standard Automotive, Inc.                                                                       | CUSIP: 216762AH7<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |  12533800 | PA      | $13003817.50  | 0.12%             | 2027-03-31      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| DNB Bank ASA                                                                | DNB Bank ASA                                                                                           | CUSIP: 2332K1ZK9<br>LEI: 549300GKFG0RYRRQ1414 | Long             | STIV             | CORP              | NO        |   1020000 | PA      | $975487.26    | 0.01%             | 2023-12-19      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| RFMSI Trust                                                                 | RFMSI Trust, Series 2005-S7, Class A6                                                                  | CUSIP: 76111XZW6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     56732 | PA      | $45492.52     | 0.00%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KLA Corp.                                                                   | KLA Corp.                                                                                              | CUSIP: 482480AL4<br>LEI: 549300H0BF5JCG96TJ81 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20312.38     | 0.00%             | 2032-07-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Danaher Corp.                                                               | Danaher Corp., Series B                                                                                | CUSIP: 235851409<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EP               | CORP              | US        |       486 | NS      | $653184.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |    840000 | PA      | $735000.00    | 0.01%             | 2049-11-26      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Grizzly Acquisitions, Inc.                                                  | Grizzly Acquisitions, Inc., 1st Lien Term Loan B                                                       | CUSIP: C4127DAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    459361 | PA      | $458621.06    | 0.00%             | 2025-10-01      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Wesco Aircraft Holdings, Inc.                                               | Wesco Aircraft Holdings, Inc.                                                                          | CUSIP: 97789LAA4<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |    444000 | PA      | $106560.00    | 0.00%             | 2027-11-15      | Fixed         | 13.12%                | Yes           |                  2 | On Loan: No      |
| AMN Healthcare, Inc.                                                        | AMN Healthcare, Inc.                                                                                   | CUSIP: 00175PAB9<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |    858000 | PA      | $795863.64    | 0.01%             | 2027-10-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ACE Securities Corp. Home Equity Loan Trust                                 | ACE Securities Corp. Home Equity Loan Trust, Series 2003-FM1, Class M1                                 | CUSIP: 004421BR3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    431139 | PA      | $427303.70    | 0.00%             | 2032-11-25      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Novartis AG                                                                 | Novartis AG (Registered)                                                                               | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |    145156 | NS      | $13123420.56  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 4616, Class HS                                                                    | CUSIP: 3137BS3L5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3334986 | PA      | $374842.45    | 0.00%             | 2046-09-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| HPCL-Mittal Energy Ltd.                                                     | HPCL-Mittal Energy Ltd.                                                                                | CUSIP: N/A<br>LEI: 3358008CSQJBZUGQXP26       | Long             | DBT              | CORP              | IN        |    400000 | PA      | $383950.00    | 0.00%             | 2026-10-22      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Dover Corp.                                                                 | Dover Corp.                                                                                            | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |     24631 | NS      | $3739724.73   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K087, Class X3                        | CUSIP: 3137FKUS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  18300000 | PA      | $1968898.83   | 0.02%             | 2046-01-25      | Variable      | 2.32%                 | No            |                  2 | On Loan: No      |
| Sumitomo Life Insurance Co.                                                 | Sumitomo Life Insurance Co.                                                                            | CUSIP: 86564CAC4<br>LEI: 549300I5OQCDADQSPI57 | Long             | DBT              | CORP              | JP        |   2620000 | PA      | $2305600.00   | 0.02%             | 2081-04-15      | Variable      | 3.38%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The), Series R                                                     | CUSIP: 693475AM7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   5972000 | PA      | $5877652.37   | 0.06%             | 2023-06-01      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| Oesterreichische Kontrollbank AG                                            | Kno, Inc.                                                                                              | CUSIP: 67616SU50<br>LEI: 5299000OVRLMF858L016 | Long             | STIV             | CORP              | AT        |   3650000 | PA      | $3574158.07   | 0.03%             | 2023-07-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Moog, Inc.                                                                  | Moog, Inc.                                                                                             | CUSIP: 615394AM5<br>LEI: 549300WM2I4U7OBAHG07 | Long             | DBT              | CORP              | US        |    630000 | PA      | $584325.00    | 0.01%             | 2027-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2021-BN31, Class E                                                                        | CUSIP: 06541AAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $1370825.75   | 0.01%             | 2054-02-15      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                           | Philip Morris International, Inc.                                                                      | CUSIP: 718172CJ6<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    195000 | PA      | $180642.03    | 0.00%             | 2029-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                                           | PennyMac Financial Services, Inc.                                                                      | CUSIP: 70932MAB3<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    480000 | PA      | $394483.20    | 0.00%             | 2029-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2021-R03, Class 1B2                                        | CUSIP: 20754AAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9100000 | PA      | $8175786.71   | 0.08%             | 2041-12-25      | Floating      | 9.81%                 | Yes           |                  2 | On Loan: No      |
| Zhongsheng Group Holdings Ltd.                                              | Zhongsheng Group Holdings Ltd.                                                                         | CUSIP: N/A<br>LEI: 3003005VYMEBAJNJ2Y26       | Long             | DBT              | CORP              | KY        |    450000 | PA      | $407615.63    | 0.00%             | 2026-01-13      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Avangrid, Inc.                                                              | Avangrid, Inc.                                                                                         | CUSIP: 05351W103<br>LEI: 549300OX0Q38NLSKPB49 | Long             | EC               | CORP              | US        |    134391 | NS      | $5667268.47   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TELUS Corp.                                                                 | TELUS Corp.                                                                                            | CUSIP: 87971M103<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | EC               | CORP              | CA        |    417031 | NS      | $8985967.28   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-14CB, Class A1                                                     | CUSIP: 021468AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1171829 | PA      | $666212.29    | 0.01%             | 2036-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                                   | Toyota Motor Credit Corp.                                                                              | CUSIP: 89236THV0<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    752000 | PA      | $751721.33    | 0.01%             | 2024-01-11      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp.                                                       | Parker-Hannifin Corp.                                                                                  | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      5861 | NS      | $1910686.00   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife, Inc.                                                               | MetLife, Inc., Series D                                                                                | CUSIP: 59156RBT4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   3062000 | PA      | $3039035.00   | 0.03%             | 2028-03-15      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Lehman Mortgage Trust                                                       | Lehman Mortgage Trust, Series 2005-2, Class 2A5                                                        | CUSIP: 52520MBW2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650939 | PA      | $411352.90    | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Barratt Developments plc                                                    | Barratt Developments plc                                                                               | CUSIP: N/A<br>LEI: 2138006R85VEOF5YNK29       | Long             | EC               | CORP              | GB        |   1397026 | NS      | $7940322.96   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Bank Group Ltd.                                                    | Standard Bank Group Ltd.                                                                               | CUSIP: N/A<br>LEI: 2549003PEZXUT7MDBU41       | Long             | EC               | CORP              | ZA        |    583620 | NS      | $5823196.05   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                                     | GFL Environmental, Inc.                                                                                | CUSIP: 36168QAN4<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   2780000 | PA      | $2509061.20   | 0.02%             | 2029-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Daiwa House REIT Investment Corp.                                           | Daiwa House REIT Investment Corp.                                                                      | CUSIP: N/A<br>LEI: 3538001FWU534P8JMO05       | Long             | EC               | CORP              | JP        |       950 | NS      | $2066947.42   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Multiclass Certificates                                               | FHLMC Multiclass Certificates, Series 2020-RR05, Class X                                               | CUSIP: 3137FRV24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  17110000 | PA      | $1684375.13   | 0.02%             | 2029-01-27      | Fixed         | 2.01%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325DQ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    230000 | PA      | $162049.38    | 0.00%             | 2049-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                                | Scotts Miracle-Gro Co. (The)                                                                           | CUSIP: 810186AP1<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   2180000 | PA      | $2139408.40   | 0.02%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Severstal PAO                                                               | Severstal PAO                                                                                          | CUSIP: 818150302<br>LEI: 213800OKDPTV6K4ONO53 | Long             | EC               | CORP              | RU        |    131758 | NS      | $42162.56     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Verallia SA                                                                 | Verallia SA                                                                                            | CUSIP: N/A<br>LEI: 5299007YZU978DE0ZY32       | Long             | EC               | CORP              | FR        |     31574 | NS      | $1165768.08   | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Restaurant Brands International, Inc.                                       | Restaurant Brands International, Inc.                                                                  | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Long             | EC               | CORP              | CA        |    111763 | NS      | $7478305.88   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cars.com, Inc.                                                              | Cars.com, Inc.                                                                                         | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |    407000 | PA      | $377297.14    | 0.00%             | 2028-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Global Markets, Inc.                                              | Citigroup Global Markets, Inc.                                                                         | CUSIP: 17327BV93<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | STIV             | CORP              | US        |    216000 | PA      | $210109.62    | 0.00%             | 2023-08-09      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| McDonald's Corp.                                                            | McDonald's Corp.                                                                                       | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     74247 | NS      | $19853647.80  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JAB6<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    482000 | PA      | $342009.13    | 0.00%             | 2031-02-16      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: —       |
| FHLMC                                                                       | FHLMC, STRIPS, Series 274, Class S1                                                                    | CUSIP: 31325TQJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2156221 | PA      | $231216.04    | 0.00%             | 2042-08-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                                             | Air Lease Corp.                                                                                        | CUSIP: 00914AAA0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1922000 | PA      | $1904034.95   | 0.02%             | 2024-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                          | Banco Bilbao Vizcaya Argentaria SA                                                                     | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | DBT              | CORP              | ES        |   2000000 | PA      | $2149378.19   | 0.02%             | 2024-03-29      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2012-20, Class SL                                                                  | CUSIP: 3136A4GQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2318277 | PA      | $296724.14    | 0.00%             | 2042-03-25      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| FWD Group Ltd.                                                              | FWD Group Ltd.                                                                                         | CUSIP: N/A<br>LEI: 254900DONRZV54KDYN04       | Long             | DBT              | CORP              | KY        |   1600000 | PA      | $1527300.00   | 0.01%             | 2023-06-15      | Variable      | 8.04%                 | Yes           |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                             | Santander UK Group Holdings plc                                                                        | CUSIP: 80281LAN5<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   2074000 | PA      | $1968125.16   | 0.02%             | 2025-03-15      | Variable      | 1.09%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust, Series 2018-MP, Class D                                                | CUSIP: 61691DAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    730000 | PA      | $571165.21    | 0.01%             | 2040-07-11      | Variable      | 4.28%                 | Yes           |                  2 | On Loan: No      |
| Leviathan Bond Ltd.                                                         | Leviathan Bond Ltd.                                                                                    | CUSIP: N/A<br>LEI: 254900D9T8VKYVQNZ220       | Long             | DBT              | CORP              | IL        |    720000 | PA      | $708300.00    | 0.01%             | 2027-06-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Ingevity Corp.                                                              | Ingevity Corp.                                                                                         | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |    145000 | PA      | $127090.81    | 0.00%             | 2028-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| VMware, Inc.                                                                | VMware, Inc.                                                                                           | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    286000 | PA      | $226667.49    | 0.00%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Albany Molecular Research, Inc.                                             | Albany Molecular Research, Inc., 1st Lien Term Loan                                                    | CUSIP: 01242HAM0<br>LEI: CHZJRCSC4ACUSUD2MV11 | Long             | LON              | CORP              | US        |    585999 | PA      | $504275.59    | 0.00%             | 2026-08-30      | Variable      | 8.16%                 | No            |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                                    | WESCO Distribution, Inc.                                                                               | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3074028.93   | 0.03%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2016-C1, Class C                                    | CUSIP: 46645LBF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4570528.00   | 0.04%             | 2049-03-17      | Variable      | 4.74%                 | No            |                  2 | On Loan: No      |
| Osmose Holdings, Inc.                                                       | Osmose Holdings, Inc., 1st Lien Term Loan                                                              | CUSIP: 68835HAH3<br>LEI: 549300FSLVHLFZ3S0D82 | Long             | LON              | CORP              | US        |    712546 | PA      | $685084.56    | 0.01%             | 2028-06-23      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| United States of America                                                    | U.S. Treasury Bills                                                                                    | CUSIP: 912796XQ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   2850000 | PA      | $2791293.56   | 0.03%             | 2023-07-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust, Inc.                                         | Citigroup Mortgage Loan Trust, Inc., Series 2005-WF2, Class AF7                                        | CUSIP: 17307GVN5<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-O            | CORP              | US        |     24526 | PA      | $22162.68     | 0.00%             | 2035-08-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| BofA Finance LLC                                                            | BofA Finance LLC                                                                                       | CUSIP: 09709TED9<br>LEI: 549300CGZYSEY3ZSIW16 | Long             | DBT              | CORP              | US        |    615000 | PA      | $655590.00    | 0.01%             | 2023-05-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-141, Class QS                                                                        | CUSIP: 38380HMW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5038060 | PA      | $448748.08    | 0.00%             | 2047-09-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                         | Kinder Morgan, Inc.                                                                                    | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    948178 | NS      | $17351657.40  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Fertitta Entertainment LLC                                                  | Fertitta Entertainment LLC                                                                             | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1015000 | PA      | $842450.00    | 0.01%             | 2030-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                   | Vistra Operations Co. LLC                                                                              | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1438000 | PA      | $1264495.61   | 0.01%             | 2029-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                                        | Anheuser-Busch InBev Worldwide, Inc.                                                                   | CUSIP: 035240AM2<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    420000 | PA      | $398318.73    | 0.00%             | 2038-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive plc                                            | Jaguar Land Rover Automotive plc                                                                       | CUSIP: 47010BAK0<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |   1216000 | PA      | $1034095.52   | 0.01%             | 2028-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                                       | Sirius XM Radio, Inc.                                                                                  | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   5685000 | PA      | $5327697.75   | 0.05%             | 2029-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                                                 | Block, Inc.                                                                                            | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   1541000 | PA      | $1286759.35   | 0.01%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| Minejesa Capital BV                                                         | Minejesa Capital BV                                                                                    | CUSIP: 602736AA8<br>LEI: 549300KS7ERCP10BKC35 | Long             | DBT              | CORP              | NL        |    150000 | PA      | $138600.00    | 0.00%             | 2030-08-10      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-64CB, Class 1A15                                                   | CUSIP: 12668AA21<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    987074 | PA      | $875404.50    | 0.01%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley, Series I                                                                               | CUSIP: 61761J406<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     71750 | NS      | $1833930.00   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GMACM Mortgage Loan Trust                                                   | GMACM Mortgage Loan Trust, Series 2005-AR1, Class 3A                                                   | CUSIP: 76112BKN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     50970 | PA      | $45140.63     | 0.00%             | 2035-03-18      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Steel Corp.                                                   | United States Steel Corp.                                                                              | CUSIP: 912909AU2<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |    993000 | PA      | $1003352.03   | 0.01%             | 2029-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2005-26, Class 1A11                                            | CUSIP: 126694MV7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1163106 | PA      | $753039.75    | 0.01%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MYT Holding LLC                                                             | MYT Holding LLC, Series A                                                                              | CUSIP: 55406N202<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2316150 | NS      | $2142438.75   | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Cedar Fair LP                                                               | Cedar Fair LP                                                                                          | CUSIP: 150190AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1395000 | PA      | $1384840.91   | 0.01%             | 2025-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                                | Rockies Express Pipeline LLC                                                                           | CUSIP: 77340RAT4<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1041300.00   | 0.01%             | 2030-05-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83369CZF4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | STIV             | CORP              | FR        |   1101000 | PA      | $1052022.38   | 0.01%             | 2023-12-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                        | Charter Communications Operating LLC, 1st Lien Term Loan B-2                                           | CUSIP: 16117LBX6<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |    996592 | PA      | $992735.21    | 0.01%             | 2027-02-01      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Exela Intermediate LLC                                                      | Exela Intermediate LLC                                                                                 | CUSIP: 30162RAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3525000 | PA      | $409429.10    | 0.00%             | 2026-07-15      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                                           | Clarios Global LP                                                                                      | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2613000 | PA      | $2602579.09   | 0.03%             | 2027-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| SK Telecom Co. Ltd.                                                         | SK Telecom Co. Ltd.                                                                                    | CUSIP: 78440P306<br>LEI: 9884003WEA1PHW006037 | Long             | EC               | CORP              | KR        |     47919 | NS      | $1016362.70   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Operating Corp.                                             | Gulfport Energy Operating Corp.                                                                        | CUSIP: 402ESCAP2<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |    745000 | PA      | $469.35       | 0.00%             | 2023-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Coty, Inc.                                                                  | Coty, Inc.                                                                                             | CUSIP: 222070AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2123550.00   | 0.02%             | 2029-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series LL                                                                       | CUSIP: 06055H202<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     35200 | NS      | $805376.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Logistics Park, Inc.                                         | Mitsui Fudosan Logistics Park, Inc.                                                                    | CUSIP: N/A<br>LEI: 353800DN63EIYS760S59       | Long             | EC               | CORP              | JP        |       534 | NS      | $1863694.23   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Cheniere Energy, Inc.                                                       | Cheniere Energy, Inc.                                                                                  | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |   3840000 | PA      | $3656256.00   | 0.04%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Healthpeak Properties, Inc.                                                 | Healthpeak Properties, Inc.                                                                            | CUSIP: 42250P103<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | EC               | CORP              | US        |    248562 | NS      | $6830483.76   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MARB BondCo plc                                                             | MARB BondCo plc                                                                                        | CUSIP: N/A<br>LEI: 254900PVA1EU6QM1JN57       | Long             | DBT              | CORP              | GB        |    450000 | PA      | $353139.75    | 0.00%             | 2031-01-29      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| Eagle RE Ltd.                                                               | Eagle RE Ltd., Series 2019-1, Class M2                                                                 | CUSIP: 269822AC6<br>LEI: 254900L82OLW9QTLJ788 | Long             | ABS-MBS          | CORP              | BM        |   1980000 | PA      | $1989115.72   | 0.02%             | 2029-04-25      | Floating      | 7.81%                 | Yes           |                  2 | On Loan: No      |
| Rain CII Carbon LLC                                                         | Rain CII Carbon LLC                                                                                    | CUSIP: 75079RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2380000 | PA      | $2237835.29   | 0.02%             | 2025-04-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| DT Midstream, Inc.                                                          | DT Midstream, Inc.                                                                                     | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38564 | NS      | $2107908.24   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVA Chemicals Corp.                                                        | NOVA Chemicals Corp.                                                                                   | CUSIP: 66977WAP4<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |   3790000 | PA      | $3644686.93   | 0.04%             | 2025-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-NP6, Class CERT                                 | CUSIP: 52607PAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $1531977.20   | 0.01%             | 2037-07-15      | Fixed         | 25.46%                | Yes           |                  3 | On Loan: No      |
| Oportun Issuance Trust                                                      | Oportun Issuance Trust, Series 2022-3, Class B                                                         | CUSIP: 68378PAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $999070.80    | 0.01%             | 2030-01-08      | Fixed         | 8.53%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2017-GS6, Class D                                                 | CUSIP: 36253PAK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $1317380.93   | 0.01%             | 2050-05-10      | Fixed         | 3.24%                 | Yes           |                  2 | On Loan: No      |
| RAMP Trust                                                                  | RAMP Trust, Series 2002-RS2, Class AI5                                                                 | CUSIP: 760985JL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    191105 | PA      | $175510.56    | 0.00%             | 2032-03-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| Manufacturers & Traders Trust Co.                                           | Manufacturers & Traders Trust Co.                                                                      | CUSIP: 55279HAV2<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    471000 | PA      | $469806.49    | 0.00%             | 2026-01-27      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Accenture plc                                                               | Accenture plc, Class A                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |      5908 | NS      | $1648627.40   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVA Chemicals Corp.                                                        | NOVA Chemicals Corp.                                                                                   | CUSIP: 66977WAR0<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |   4616000 | PA      | $4293249.28   | 0.04%             | 2027-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao                                                 | B3 SA - Brasil Bolsa Balcao                                                                            | CUSIP: N/A<br>LEI: 4GTK5S46E6H318LMDS44       | Long             | EC               | CORP              | BR        |   3818829 | NS      | $9757148.34   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The)                                                                              | CUSIP: 064159VJ2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   2497000 | PA      | $2424986.52   | 0.02%             | 2025-06-04      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 78454LAL4<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   3980000 | PA      | $3900400.00   | 0.04%             | 2025-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Gulfport Energy Operating Corp.                                             | Gulfport Energy Operating Corp., Escrow                                                                | CUSIP: 402ESCAT4<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |   4130000 | PA      | $2601.90      | 0.00%             | 2026-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 91911KAP7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |  22777000 | PA      | $17943948.37  | 0.17%             | 2025-12-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Adani Transmission Step-One Ltd.                                            | Adani Transmission Step-One Ltd.                                                                       | CUSIP: N/A<br>LEI: 335800Z8CGS7O7D72N41       | Long             | DBT              | CORP              | IN        |    211250 | PA      | $154362.49    | 0.00%             | 2036-05-21      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| New Albertsons LP                                                           | New Albertsons LP                                                                                      | CUSIP: 01310QDB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    613000 | PA      | $600427.37    | 0.01%             | 2028-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Transocean Titan Financing Ltd.                                             | Transocean Titan Financing Ltd.                                                                        | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    841000 | PA      | $872722.52    | 0.01%             | 2028-02-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Playtika Holding Corp.                                                      | Playtika Holding Corp.                                                                                 | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41487.75     | 0.00%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Hilton Worldwide Finance LLC                                                | Hilton Worldwide Finance LLC                                                                           | CUSIP: 432891AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4034000 | PA      | $3905505.32   | 0.04%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                                                 | Intel Corp.                                                                                            | CUSIP: 458140BU3<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     64000 | PA      | $52470.46     | 0.00%             | 2031-08-12      | Fixed         | 2.00%                 | No            |                  2 | On Loan: —       |
| Banco Santander SA                                                          | Banco Santander SA                                                                                     | CUSIP: 05971KAK5<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   6400000 | PA      | $6266752.00   | 0.06%             | 2024-06-30      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| ESC Co.                                                                     | ESC Co., Escrow                                                                                        | CUSIP: 458ESCAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10554000 | PA      | $1055.40      | 0.00%             | 2023-08-01      | Fixed         | 5.50%                 | No            |                  3 | On Loan: No      |
| Countrywide Asset-Backed Certificates                                       | Countrywide Asset-Backed Certificates, Series 2004-3, Class M2                                         | CUSIP: 1266714U7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    396989 | PA      | $391098.90    | 0.00%             | 2034-06-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2005-NC1, Class M3                                    | CUSIP: 61744CMM5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    263452 | PA      | $242320.56    | 0.00%             | 2035-01-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc., 1st Lien Term Loan B                                             | CUSIP: 18452RAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1841615 | PA      | $1748668.92   | 0.02%             | 2026-08-21      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| JPMorgan Equity Premium Income ETF                                          | JPMorgan Equity Premium Income ETF                                                                     | CUSIP: 46641Q332<br>LEI: 549300WPLSUZ3ZNSFP07 | Long             |  | RF                | US        |   9133633 | NS      | $506642622.51 | 4.87%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K108, Class X3                        | CUSIP: 3137FTBQ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  19600000 | PA      | $3691330.72   | 0.04%             | 2048-04-25      | Variable      | 3.49%                 | No            |                  2 | On Loan: No      |
| Cargill, Inc.                                                               | Cargill, Inc.                                                                                          | CUSIP: 141781BL7<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |    795000 | PA      | $781861.13    | 0.01%             | 2023-07-23      | Fixed         | 1.38%                 | Yes           |                  2 | On Loan: No      |
| Fortum OYJ                                                                  | Fortum OYJ                                                                                             | CUSIP: N/A<br>LEI: 635400IUIZZIUJSAMF76       | Long             | EC               | CORP              | FI        |    375991 | NS      | $5651986.63   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| MRCD MARK Mortgage Trust                                                    | MRCD MARK Mortgage Trust, Series 2019-PARK, Class F                                                    | CUSIP: 55348UAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $8622218.00   | 0.08%             | 2036-12-15      | Fixed         | 2.72%                 | Yes           |                  2 | On Loan: No      |
| Herbalife Nutrition Ltd.                                                    | Herbalife Nutrition Ltd.                                                                               | CUSIP: 42704MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    333000 | PA      | $312297.88    | 0.00%             | 2025-09-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| AmeriGas Partners LP                                                        | AmeriGas Partners LP                                                                                   | CUSIP: 030981AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    960000 | PA      | $928588.80    | 0.01%             | 2026-08-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Lamb Weston Holdings, Inc.                                                  | Lamb Weston Holdings, Inc.                                                                             | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |   1313000 | PA      | $1175883.41   | 0.01%             | 2032-01-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                          | T-Mobile USA, Inc.                                                                                     | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    542000 | PA      | $443247.93    | 0.00%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The)                                                                            | CUSIP: 89115A2H4<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     95000 | PA      | $95518.43     | 0.00%             | 2027-09-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: 06738EBQ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   5035000 | PA      | $4844807.51   | 0.05%             | 2024-12-10      | Variable      | 1.01%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     75000 | PA      | $61867.07     | 0.00%             | 2032-10-21      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| Ultimate Software Group, Inc. (The)                                         | Ultimate Software Group, Inc. (The), 1st Lien Term Loan                                                | CUSIP: 90385KAK7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    894723 | PA      | $879181.88    | 0.01%             | 2026-05-04      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| Charter Hall Long Wale REIT                                                 | Charter Hall Long Wale                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    445434 | NS      | $1441524.87   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Invenergy Thermal Operating I LLC                                           | Invenergy Thermal Operating I LLC, Term Loan                                                           | CUSIP: 46123UAG3<br>LEI: 549300JF5R5BXJAMZL67 | Long             | LON              | CORP              | US        |    151409 | PA      | $150651.91    | 0.00%             | 2025-08-28      | Variable      | 8.43%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                                               | Staples, Inc., 1st Lien Term Loan                                                                      | CUSIP: 855031AQ3<br>LEI: XQM2JINI1UL7642TU573 | Long             | LON              | CORP              | US        |   1257666 | PA      | $1175187.99   | 0.01%             | 2026-04-16      | Variable      | 7.78%                 | No            |                  2 | On Loan: No      |
| Allied Properties REIT                                                      | Allied Properties                                                                                      | CUSIP: 019456102<br>LEI: 549300AMZMPKVHA0MY77 | Long             | EC               | CORP              | CA        |     88427 | NS      | $1972502.62   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-HE8, Class M3                                    | CUSIP: 61744CHC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    381912 | PA      | $363949.79    | 0.00%             | 2034-09-25      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Birkenstock                                                                 | Birkenstock, 1st Lien Term Loan B                                                                      | CUSIP: L0527CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    520381 | PA      | $518590.55    | 0.00%             | 2028-04-28      | Variable      | 7.69%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc.                                                                                  | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |    105168 | NS      | $6692891.52   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Guara Norte SARL                                                            | Guara Norte SARL                                                                                       | CUSIP: 400666AA1<br>LEI: 549300U2I4L03BBA3485 | Long             | DBT              | CORP              | LU        |    315057 | PA      | $284536.05    | 0.00%             | 2034-06-15      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Aetna, Inc.                                                                 | Aetna, Inc.                                                                                            | CUSIP: 00817YAZ1<br>LEI: 549300QKBENKLBXQ8968 | Long             | DBT              | CORP              | US        |    257000 | PA      | $212488.75    | 0.00%             | 2047-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    837000 | PA      | $731939.76    | 0.01%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2014-LC15, Class D                                                   | CUSIP: 12591TAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1386471.15   | 0.01%             | 2047-04-10      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Public Service Co. of Oklahoma                                              | Public Service Co. of Oklahoma, Series J                                                               | CUSIP: 744533BM1<br>LEI: F3TJNSIZRGXRH8GEIK79 | Long             | DBT              | CORP              | US        |    158000 | PA      | $130514.86    | 0.00%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                            | CVS Health Corp.                                                                                       | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     39037 | NS      | $3443844.14   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes, Inc.                                                      | Invitation Homes, Inc.                                                                                 | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    215886 | NS      | $7016295.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp.                                                              | TopBuild Corp.                                                                                         | CUSIP: 89055FAB9<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    404000 | PA      | $344349.40    | 0.00%             | 2029-03-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Banijay Entertainment                                                       | Banijay Entertainment, 1st Lien Term Loan B                                                            | CUSIP: F6456UAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    537625 | PA      | $536619.64    | 0.01%             | 2025-03-01      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust, Inc.                                         | Citigroup Mortgage Loan Trust, Inc., Series 2005-9, Class 2A2                                          | CUSIP: 17307GM62<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |     66430 | PA      | $49663.45     | 0.00%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GZK3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     70000 | PA      | $64183.90     | 0.00%             | 2028-02-24      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| Pharmaron Beijing Co. Ltd.                                                  | Pharmaron Beijing Co. Ltd.                                                                             | CUSIP: N/A<br>LEI: 300300JYXHGVS5SNGG54       | Long             | DBT              | CORP              | CN        |    400000 | PA      | $362364.69    | 0.00%             | 2026-06-18      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Hexpol AB                                                                   | Hexpol AB                                                                                              | CUSIP: N/A<br>LEI: 549300MN30TBRLYN3465       | Long             | EC               | CORP              | SE        |    171604 | NS      | $1853813.38   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CapitaLand Ascendas REIT                                                    | CapitaLand Ascendas REIT                                                                               | CUSIP: N/A<br>LEI: 549300ILIBAEMQZK3L20       | Long             | EC               | CORP              | SG        |   2519600 | NS      | $5544709.47   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                                                  | Sensata Technologies, Inc.                                                                             | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    843000 | PA      | $715578.30    | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                  | Occidental Petroleum Corp.                                                                             | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   6396000 | PA      | $7531290.00   | 0.07%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Macquarie Group Ltd.                                                        | Macquarie Group Ltd.                                                                                   | CUSIP: 55608JBL1<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |   4200000 | PA      | $4281968.08   | 0.04%             | 2024-11-22      | Fixed         | 6.21%                 | Yes           |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                            | Goodyear Tire & Rubber Co. (The)                                                                       | CUSIP: 382550BF7<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   3148000 | PA      | $3045658.52   | 0.03%             | 2026-05-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Standard Industries, Inc.                                                   | Standard Industries, Inc.                                                                              | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   6720000 | PA      | $6297648.00   | 0.06%             | 2028-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Hana Financial Group, Inc.                                                  | Hana Financial Group, Inc.                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     59003 | NS      | $2344026.16   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Fastenal Co.                                                                | Fastenal Co.                                                                                           | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    124579 | NS      | $6297468.45   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PQ Corp.                                                                    | PQ Corp., 1st Lien Term Loan B                                                                         | CUSIP: 27922JAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    481425 | PA      | $480394.75    | 0.00%             | 2028-06-09      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| Fair Isaac Corp.                                                            | Fair Isaac Corp.                                                                                       | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    799000 | PA      | $741875.50    | 0.01%             | 2028-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| O'Reilly Automotive, Inc.                                                   | O'Reilly Automotive, Inc.                                                                              | CUSIP: 67103HAL1<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29937.86     | 0.00%             | 2032-06-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-16, Class A1                                              | CUSIP: 12544MAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1878765 | PA      | $936187.51    | 0.01%             | 2037-10-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Tucson Electric Power Co.                                                   | Tucson Electric Power Co.                                                                              | CUSIP: 898813AS9<br>LEI: YLF139GXSRKPBBTNZL03 | Long             | DBT              | CORP              | US        |     30000 | PA      | $23826.86     | 0.00%             | 2030-08-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| NAI Entertainment Holdings LLC                                              | NAI Entertainment Holdings LLC, 1st Lien Term Loan B                                                   | CUSIP: 62981EAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    292050 | PA      | $277447.80    | 0.00%             | 2025-05-08      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| Lendingpoint Asset Securitization Trust                                     | Lendingpoint Asset Securitization Trust, Series 2021-B, Class B                                        | CUSIP: 52607HAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $717180.00    | 0.01%             | 2029-02-15      | Fixed         | 1.68%                 | Yes           |                  2 | On Loan: No      |
| Diamond Sports Group LLC                                                    | Diamond Sports Group LLC, 2nd Lien Term Loan                                                           | CUSIP: 25277BAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    335024 | PA      | $25267.53     | 0.00%             | 2026-08-24      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, Series VUN                                                                          | CUSIP: 06739GCF4<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |    508000 | PA      | $542526.69    | 0.01%             | 2025-02-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2005-1, Class 1A2                                                              | CUSIP: 45254NMM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    272268 | PA      | $248599.11    | 0.00%             | 2035-04-25      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| MRCD MARK Mortgage Trust                                                    | MRCD MARK Mortgage Trust, Series 2019-PARK, Class J                                                    | CUSIP: 55348UBA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17000000 | PA      | $14283406.80  | 0.14%             | 2036-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Capgemini SE                                                                | Capgemini SE                                                                                           | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |     50072 | NS      | $9502942.39   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Pioneer Natural Resources Co.                                               | Pioneer Natural Resources Co.                                                                          | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |     28336 | NS      | $6527197.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SCB X PCL                                                                   | SCB X PCL                                                                                              | CUSIP: N/A<br>LEI: 254900TG41KIWX7VDO42       | Long             | EC               | CORP              | TH        |   2369400 | NS      | $7504798.43   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| B&M European Value Retail SA                                                | B&M European Value Retail SA                                                                           | CUSIP: N/A<br>LEI: 213800UK7ZRLY2K1X530       | Long             | EC               | CORP              | LU        |    509759 | NS      | $2819128.81   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2312000 | PA      | $1456560.00   | 0.01%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Entergy Corp.                                                               | Entergy Corp.                                                                                          | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     60242 | NS      | $6523003.76   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 20 Year                                                                                     | CUSIP: 3140Q8LM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    244220 | PA      | $239352.95    | 0.00%             | 2038-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Affirm Asset Securitization Trust                                           | Affirm Asset Securitization Trust, Series 2021-Z2, Class A                                             | CUSIP: 00834TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2607366 | PA      | $2500925.67   | 0.02%             | 2026-11-16      | Fixed         | 1.17%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                        | Ally Financial, Inc., Series C                                                                         | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   6324000 | PA      | $4853670.00   | 0.05%             | 2028-05-15      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc., Series B                                                                        | CUSIP: 25746UDD8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3636000 | PA      | $3392024.40   | 0.03%             | 2024-12-15      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| Mondi plc                                                                   | Mondi plc                                                                                              | CUSIP: N/A<br>LEI: 213800LOZA69QFDC9N34       | Long             | EC               | CORP              | GB        |    129661 | NS      | $2445128.32   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Moran Foods Backstop Equity                                                 | Moran Foods Backstop Equity                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    147567 | NS      | $368918.58    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Henkel US Operations Corp.                                                  | Henkel US Operations Corp.                                                                             | CUSIP: 42550MW78<br>LEI: 549300K0I4QHAMGJYG06 | Long             | STIV             | CORP              | US        |     78000 | PA      | $75657.87     | 0.00%             | 2023-09-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                                          | Grupo Financiero Banorte SAB de CV, Class O                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |   1613963 | NS      | $13370767.00  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust, Series 2019-L2, Class E                                                | CUSIP: 61768HAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2575000 | PA      | $1632939.08   | 0.02%             | 2052-03-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                       | OneMain Finance Corp.                                                                                  | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   4362000 | PA      | $4333450.71   | 0.04%             | 2026-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Crestwood Midstream Partners LP                                             | Crestwood Midstream Partners LP                                                                        | CUSIP: 226373AP3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5514000 | PA      | $5435976.90   | 0.05%             | 2025-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                                          | Sultanate of Oman Government Bond                                                                      | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    770000 | PA      | $767497.50    | 0.01%             | 2027-03-08      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Siam Cement PCL (The)                                                       | Siam Cement PCL (The) (Registered)                                                                     | CUSIP: N/A<br>LEI: 529900SEH9QK8ZZDCQ89       | Long             | EC               | CORP              | TH        |    476483 | NS      | $4861708.25   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Cedar Fair LP                                                               | Cedar Fair LP                                                                                          | CUSIP: 150190AE6<br>LEI: 549300TUVLNQQ6BVKH61 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1558305.00   | 0.01%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA ACES, Series 2020-M37, Class X                                                                    | CUSIP: 3136BBGX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  25381077 | PA      | $1374461.49   | 0.01%             | 2032-04-25      | Variable      | 1.03%                 | No            |                  2 | On Loan: No      |
| TriNet Group, Inc.                                                          | TriNet Group, Inc.                                                                                     | CUSIP: 896288AA5<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |   1308000 | PA      | $1098366.84   | 0.01%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2014-CR15, Class C                                                   | CUSIP: 12591RBF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3375000 | PA      | $3258606.71   | 0.03%             | 2047-02-10      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| Conservice Midco LLC                                                        | Conservice Midco LLC, 1st Lien Term Loan                                                               | CUSIP: 20848PAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    440256 | PA      | $434567.68    | 0.00%             | 2027-05-13      | Variable      | 8.82%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |   1325901 | NS      | $9769701.73   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2016-CD2, Class C                                                            | CUSIP: 12515ABJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $611515.13    | 0.01%             | 2049-11-10      | Variable      | 3.98%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                  | Corebridge Financial, Inc.                                                                             | CUSIP: 21871XAN9<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   4646000 | PA      | $4621560.65   | 0.04%             | 2052-12-15      | Variable      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| HCL Technologies Ltd.                                                       | HCL Technologies Ltd.                                                                                  | CUSIP: N/A<br>LEI: 549300C1F8OLYSOQYB65       | Long             | EC               | CORP              | IN        |    701001 | NS      | $9666526.78   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Group NV                                                                | KBC Group NV                                                                                           | CUSIP: 48241FAB0<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | DBT              | CORP              | BE        |    200000 | PA      | $202951.33    | 0.00%             | 2029-01-19      | Variable      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K102, Class X3                        | CUSIP: 3137FQKF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1180000 | PA      | $115304.41    | 0.00%             | 2046-12-25      | Variable      | 1.89%                 | No            |                  2 | On Loan: No      |
| Shin-Etsu Chemical Co. Ltd.                                                 | Shin-Etsu Chemical Co. Ltd.                                                                            | CUSIP: N/A<br>LEI: 353800PX8Q64N86H5W41       | Long             | EC               | CORP              | JP        |    110400 | NS      | $16275515.18  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| New Albertsons LP                                                           | New Albertsons LP                                                                                      | CUSIP: 013104AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1535000 | PA      | $1558025.00   | 0.01%             | 2026-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2005-A3, Class 6A6                                                     | CUSIP: 466247RM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    129582 | PA      | $126854.63    | 0.00%             | 2035-06-25      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                     | Hyundai Capital America                                                                                | CUSIP: 44891ABJ5<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1631000 | PA      | $1631799.19   | 0.02%             | 2023-04-06      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                | Royal Caribbean Cruises Ltd.                                                                           | CUSIP: 780153BS0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   3455000 | PA      | $3610475.00   | 0.03%             | 2029-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                                     | Hyundai Capital America                                                                                | CUSIP: 44891ABZ9<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    165000 | PA      | $145838.92    | 0.00%             | 2026-09-17      | Fixed         | 1.65%                 | Yes           |                  2 | On Loan: No      |
| RingCentral, Inc.                                                           | RingCentral, Inc.                                                                                      | CUSIP: 76680RAH0<br>LEI: 549300C8EH0H1614VE84 | Long             | DBT              | CORP              | US        |   1704000 | PA      | $1366437.60   | 0.01%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-68, Class SA                                                                         | CUSIP: 38376UP94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2775133 | PA      | $333118.62    | 0.00%             | 2047-05-20      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                          | VICI Properties LP                                                                                     | CUSIP: 92564RAL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3853000 | PA      | $3471000.29   | 0.03%             | 2029-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Centex Home Equity Loan Trust                                               | Centex Home Equity Loan Trust, Series 2004-C, Class M2                                                 | CUSIP: 152314KS8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    364411 | PA      | $340647.11    | 0.00%             | 2034-06-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities I Trust                                | Bear Stearns Asset-Backed Securities I Trust, Series 2004-AC5, Class M1                                | CUSIP: 073879GQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    284590 | PA      | $212581.04    | 0.00%             | 2034-10-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| EnLink Midstream Partners LP                                                | EnLink Midstream Partners LP                                                                           | CUSIP: 29336UAF4<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |   2940000 | PA      | $2850546.38   | 0.03%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Envision Healthcare Corp.                                                   | Envision Healthcare Corp., 1st Lien Term Loan                                                          | CUSIP: 29373UAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    584460 | PA      | $143192.81    | 0.00%             | 2027-03-31      | Variable      | 8.33%                 | No            |                  2 | On Loan: No      |
| Endo Dac                                                                    | Endo Dac                                                                                               | CUSIP: 29273DAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2563000 | PA      | $153901.23    | 0.00%             | 2028-06-30      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Traeger Grills                                                              | Traeger Grills, 1st Lien Term Loan                                                                     | CUSIP: 87251RAK9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    310974 | PA      | $246798.60    | 0.00%             | 2028-06-29      | Variable      | 8.08%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: 456837BA0<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   3860000 | PA      | $3748931.01   | 0.04%             | 2026-03-28      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                                                  | Axalta Coating Systems LLC                                                                             | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |   4595000 | PA      | $3951700.00   | 0.04%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2004-10, Class 2A                                                              | CUSIP: 45254NLL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    363373 | PA      | $319397.59    | 0.00%             | 2035-03-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     67895 | NS      | $2323366.90   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals North America, Inc.                                          | United Rentals North America, Inc.                                                                     | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   4884000 | PA      | $4298250.65   | 0.04%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                                                 | Adient Global Holdings Ltd.                                                                            | CUSIP: 00687YAA3<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |   1876000 | PA      | $1781093.16   | 0.02%             | 2026-08-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Cloverie plc for Zurich Insurance Co. Ltd.                                  | Cloverie plc for Zurich Insurance Co. Ltd.                                                             | CUSIP: N/A<br>LEI: 5493002N598MXOKUEF55       | Long             | DBT              | CORP              | IE        |   2700000 | PA      | $2687580.00   | 0.03%             | 2046-06-24      | Variable      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| RFMSI Trust                                                                 | RFMSI Trust, Series 2006-SA4, Class 2A1                                                                | CUSIP: 74958CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    897249 | PA      | $742377.60    | 0.01%             | 2036-11-25      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| Kimco Realty OP LLC                                                         | Kimco Realty OP LLC                                                                                    | CUSIP: 49446RAY5<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              | CORP              | US        |     46000 | PA      | $36944.58     | 0.00%             | 2031-12-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Calpine Corp.                                                               | Calpine Corp.                                                                                          | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   1077000 | PA      | $936005.73    | 0.01%             | 2029-02-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| DigiCert, Inc.                                                              | DigiCert, Inc., 1st Lien Term Loan                                                                     | CUSIP: 24022KAB5<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |    475918 | PA      | $469821.59    | 0.00%             | 2026-10-16      | Variable      | 8.70%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | DBT              | CORP              | CH        |   1577000 | PA      | $1494380.97   | 0.01%             | 2026-07-29      | Variable      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Sempra Energy                                                               | Sempra Energy                                                                                          | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   6007000 | PA      | $5258178.91   | 0.05%             | 2052-04-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Chart Industries, Inc.                                                      | Chart Industries, Inc.                                                                                 | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |   1613000 | PA      | $1649292.50   | 0.02%             | 2030-01-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Sampo OYJ                                                                   | Sampo OYJ, Class A                                                                                     | CUSIP: N/A<br>LEI: 743700UF3RL386WIDA22       | Long             | EC               | CORP              | FI        |     78879 | NS      | $4141108.19   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   8721000 | PA      | $8571605.78   | 0.08%             | 2025-06-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Group AG                                                      | Credit Suisse Group AG                                                                                 | CUSIP: 225401AT5<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    250000 | PA      | $207010.97    | 0.00%             | 2027-02-02      | Variable      | 1.30%                 | Yes           |                  2 | On Loan: No      |
| Embassy Office Parks REIT                                                   | Embassy Office Parks                                                                                   | CUSIP: N/A<br>LEI: 335800O555A557E43Z08       | Long             | EC               | CORP              | IN        |    427305 | NS      | $1713017.33   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                        | American Tower Corp.                                                                                   | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     18685 | NS      | $4174042.15   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-NP3, Class CERT                                 | CUSIP: 52606XAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $2888876.25   | 0.03%             | 2037-05-15      | Fixed         | 25.22%                | Yes           |                  3 | On Loan: No      |
| Santander UK Group Holdings plc                                             | Santander UK Group Holdings plc                                                                        | CUSIP: 80281LAQ8<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   2470000 | PA      | $2167539.04   | 0.02%             | 2027-06-14      | Variable      | 1.67%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The)                                                                              | CUSIP: 06417XAN1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    290000 | PA      | $289812.27    | 0.00%             | 2026-02-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Spotify USA, Inc.                                                           | Spotify USA, Inc.                                                                                      | CUSIP: 84921RAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    654000 | PA      | $545436.00    | 0.01%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NCSoft Corp.                                                                | NCSoft Corp.                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |      8945 | NS      | $3310825.09   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Synaptics, Inc.                                                             | Synaptics, Inc., 1st Lien Term Loan B                                                                  | CUSIP: 87159JAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    762883 | PA      | $753537.44    | 0.01%             | 2028-12-02      | Variable      | 7.40%                 | No            |                  2 | On Loan: No      |
| United Airlines Holdings, Inc.                                              | United Airlines Holdings, Inc.                                                                         | CUSIP: 910047AH2<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |   2404000 | PA      | $2390778.00   | 0.02%             | 2024-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Barrick Gold Corp.                                                          | Barrick Gold Corp.                                                                                     | CUSIP: 067901108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    310116 | NS      | $6064573.54   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                                         | Bank of New York Mellon Corp. (The)                                                                    | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    101000 | PA      | $109386.26    | 0.00%             | 2033-10-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| MetLife, Inc.                                                               | MetLife, Inc.                                                                                          | CUSIP: 59156RCC0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30434.00     | 0.00%             | 2052-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Network i2i Ltd.                                                            | Network i2i Ltd.                                                                                       | CUSIP: N/A<br>LEI: 2549003L8M1FGHLHOX45       | Long             | DBT              | CORP              | MU        |   2900000 | PA      | $2789981.25   | 0.03%             | 2025-01-15      | Variable      | 5.65%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series Z                                                                        | CUSIP: 060505EL4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   7182000 | PA      | $7217637.08   | 0.07%             | 2024-10-23      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Commscope, Inc.                                                             | Commscope, Inc., 1st Lien Term Loan B-2                                                                | CUSIP: 20337EAQ4<br>LEI: 724500R0MD16646Q8383 | Long             | LON              | CORP              | NL        |   1022663 | PA      | $999909.14    | 0.01%             | 2026-04-06      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Gulfport Energy Operating Corp.                                             | Gulfport Energy Operating Corp., Escrow                                                                | CUSIP: 402ESCAQ0<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |   4620000 | PA      | $2910.60      | 0.00%             | 2024-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TMBThanachart Bank PCL                                                      | TMBThanachart Bank PCL                                                                                 | CUSIP: N/A<br>LEI: 549300WKGLXEV3DB7I54       | Long             | DBT              | CORP              | TH        |    200000 | PA      | $188750.00    | 0.00%             | 2024-12-02      | Variable      | 4.90%                 | Yes           |                  2 | On Loan: No      |
| Wesco Aircraft Holdings, Inc.                                               | Wesco Aircraft Holdings, Inc.                                                                          | CUSIP: 97789LAC0<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |   1046000 | PA      | $507310.00    | 0.00%             | 2024-11-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Peloton Interactive, Inc.                                                   | Peloton Interactive, Inc.                                                                              | CUSIP: 70614WAB6<br>LEI: 5493002YS021166W0339 | Long             | DBT              | CORP              | US        |   1133000 | PA      | $872440.42    | 0.01%             | 2026-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-18, Class 2A4                                             | CUSIP: 12543WAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1714706 | PA      | $970381.26    | 0.01%             | 2036-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Trinseo Materials Operating SCA                                             | Trinseo Materials Operating SCA                                                                        | CUSIP: 89668QAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   7060000 | PA      | $6177500.00   | 0.06%             | 2025-09-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: —       |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2021-3, Class D                                   | CUSIP: 025286AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $658302.40    | 0.01%             | 2027-11-15      | Fixed         | 1.34%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                                             | CUSIP: 45174HBE6<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   7122000 | PA      | $6378676.86   | 0.06%             | 2027-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-AR4, Class 3A5                                                    | CUSIP: 362341FN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050054 | PA      | $754126.74    | 0.01%             | 2035-07-25      | Variable      | 3.47%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2006-9F, Class 3A1                                                     | CUSIP: 3622X7AE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    393476 | PA      | $354147.91    | 0.00%             | 2036-10-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: 456837AH6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   3300000 | PA      | $3183004.31   | 0.03%             | 2027-03-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Indika Energy Capital IV Pte. Ltd.                                          | Indika Energy Capital IV Pte. Ltd.                                                                     | CUSIP: N/A<br>LEI: 254900LQ197HY24XVH34       | Long             | DBT              | CORP              | SG        |   2700000 | PA      | $2686500.00   | 0.03%             | 2025-10-22      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                     | Level 3 Financing, Inc.                                                                                | CUSIP: 527298BN2<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   4467000 | PA      | $3784029.20   | 0.04%             | 2027-09-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Okta, Inc.                                                                  | Okta, Inc.                                                                                             | CUSIP: 679295AD7<br>LEI: 549300N8J06I8MRHU620 | Long             | DBT              | CORP              | US        |    359000 | PA      | $317176.50    | 0.00%             | 2025-09-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                                     | GFL Environmental, Inc.                                                                                | CUSIP: 36168QAJ3<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   2670000 | PA      | $2574833.24   | 0.02%             | 2025-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Mondelez International, Inc.                                                | Mondelez International, Inc.                                                                           | CUSIP: 609207AX3<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    174000 | PA      | $139289.68    | 0.00%             | 2031-02-04      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                         | Medline Borrower LP                                                                                    | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3349140.84   | 0.03%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| Genesys Telecom Holdings US, Inc.                                           | Genesys Telecom Holdings US, Inc., 1st Lien Term Loan B                                                | CUSIP: 39479UAQ6<br>LEI: 549300CVRD4OUCPHWQ42 | Long             | LON              | CORP              | US        |   5794058 | PA      | $5681827.16   | 0.05%             | 2027-12-01      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| Emera, Inc.                                                                 | Emera, Inc.                                                                                            | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |     63738 | NS      | $2537927.35   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| William Carter Co. (The)                                                    | William Carter Co. (The)                                                                               | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |   4403000 | PA      | $4283502.98   | 0.04%             | 2027-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205AP9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    400000 | PA      | $349000.00    | 0.00%             | 2041-03-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                                   | Standard Industries, Inc.                                                                              | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1582000 | PA      | $1499162.00   | 0.01%             | 2027-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, Connecticut Avenue Securities, Series 2021-R02, Class 2B2                                        | CUSIP: 20754KAJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |   5142000 | PA      | $4470906.78   | 0.04%             | 2041-11-25      | Floating      | 10.51%                | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2015-P1, Class D                                           | CUSIP: 17324DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1653450.80   | 0.02%             | 2048-09-15      | Fixed         | 3.23%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                               | Six Flags Entertainment Corp.                                                                          | CUSIP: 83001AAC6<br>LEI: 549300JYTDUAA4JQ3717 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4712800.00   | 0.05%             | 2027-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| ATI, Inc.                                                                   | ATI, Inc.                                                                                              | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |   1240000 | PA      | $1126850.00   | 0.01%             | 2031-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WIRB-Copernicus Group, Inc.                                                 | WIRB-Copernicus Group, Inc., 1st Lien Term Loan B                                                      | CUSIP: 23343FAB0<br>LEI: 254900CEZYHAWVXDTS47 | Long             | LON              | CORP              | US        |    788924 | PA      | $759836.81    | 0.01%             | 2027-01-08      | Variable      | 8.57%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2022-1, Class B1                                                      | CUSIP: 19688HAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2038000 | PA      | $1520732.77   | 0.01%             | 2066-12-27      | Variable      | 4.11%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc                                                                                      | CUSIP: 06738G8A1<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |    490000 | PA      | $643990.96    | 0.01%             | 2025-02-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Okinawa Electric Power Co., Inc. (The)                                      | Okinawa Electric Power Co., Inc. (The)                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    129200 | NS      | $1074506.03   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MasTec, Inc.                                                                | MasTec, Inc.                                                                                           | CUSIP: 576323AP4<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |   5891000 | PA      | $5460595.88   | 0.05%             | 2028-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: —       |
| Eastman Chemical Co.                                                        | Eastman Chemical Co.                                                                                   | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |    147821 | NS      | $13033377.57  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FREED ABS Trust                                                             | FREED ABS Trust, Series 2022-4FP, Class B                                                              | CUSIP: 35634JAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2300000 | PA      | $2306952.67   | 0.02%             | 2029-12-18      | Fixed         | 7.58%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-HE6, Class M3                                    | CUSIP: 61744CFD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    375618 | PA      | $365995.17    | 0.00%             | 2034-08-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Coeur Mining, Inc.                                                          | Coeur Mining, Inc.                                                                                     | CUSIP: 192108BC1<br>LEI: 5493003AVK173D48DR70 | Long             | DBT              | CORP              | US        |    808000 | PA      | $650604.62    | 0.01%             | 2029-02-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: —       |
| US Bancorp                                                                  | US Bancorp                                                                                             | CUSIP: 91159HJF8<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34947.43     | 0.00%             | 2028-07-22      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                                     | American Airlines, Inc.                                                                                | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6035125 | PA      | $5837306.70   | 0.06%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of Ghana                                                           | Republic of Ghana                                                                                      | CUSIP: N/A<br>LEI: 213800PP4399SNNXZ126       | Long             | DBT              | NUSS              | GH        |   1310000 | PA      | $484700.00    | 0.00%             | 2029-05-16      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2022-1, Class B1                                          | CUSIP: 24382JAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2227550.40   | 0.02%             | 2067-01-25      | Variable      | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Trinseo Materials Operating SCA                                             | Trinseo Materials Operating SCA, 1st Lien Term Loan B                                                  | CUSIP: L9339LAG8<br>LEI: 549300WNMXD3KV7LO256 | Long             | LON              | CORP              | LU        |    532733 | PA      | $519084.22    | 0.00%             | 2024-09-06      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-R3, Class B2                                                   | CUSIP: 92538EAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1776000 | PA      | $1257160.07   | 0.01%             | 2064-04-25      | Variable      | 4.07%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                        | Frontier Communications Holdings LLC                                                                   | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9695000 | PA      | $8814209.25   | 0.08%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Universal Entertainment Corp.                                               | Universal Entertainment Corp.                                                                          | CUSIP: 91349WAB4<br>LEI: 353800BBJTHSMSQ31V91 | Long             | DBT              | CORP              | JP        |    824000 | PA      | $772631.84    | 0.01%             | 2024-12-11      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley, Series M                                                                               | CUSIP: 61762VAA9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2945000 | PA      | $2952362.50   | 0.03%             | 2026-09-15      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                                     | Volkswagen Group of America Finance LLC                                                                | CUSIP: 928668BD3<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    230000 | PA      | $228848.95    | 0.00%             | 2023-05-12      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Sprint LLC                                                                  | Sprint LLC                                                                                             | CUSIP: 85207UAJ4<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |  18094000 | PA      | $18780594.92  | 0.18%             | 2025-02-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Calpine Corp.                                                               | Calpine Corp.                                                                                          | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   1347000 | PA      | $1154256.42   | 0.01%             | 2031-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |    970000 | PA      | $1012437.50   | 0.01%             | 2025-11-12      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                                           | NatWest Group plc                                                                                      | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |   1000809 | NS      | $3818145.32   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Repsol SA                                                                   | Repsol SA                                                                                              | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |    462885 | NS      | $7603737.95   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Energean plc                                                                | Energean plc                                                                                           | CUSIP: N/A<br>LEI: 549300RVMKU0CYUZBB05       | Long             | EC               | CORP              | GB        |    155235 | NS      | $2229594.14   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp.                                                           | Duke Energy Corp.                                                                                      | CUSIP: 26441CBP9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   5838000 | PA      | $4769987.00   | 0.05%             | 2082-01-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Nokia OYJ                                                                   | Nokia OYJ                                                                                              | CUSIP: 654902AC9<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |     50000 | PA      | $50947.50     | 0.00%             | 2039-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JAA8<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    665000 | PA      | $549456.25    | 0.01%             | 2026-02-16      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Texas Instruments, Inc.                                                     | Texas Instruments, Inc.                                                                                | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    143088 | NS      | $25356624.48  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Pathway Vet Alliance LLC                                                    | Pathway Vet Alliance LLC, 1st Lien Term Loan                                                           | CUSIP: 70323KAE8<br>LEI: 2549001HRKTHAW7MOH74 | Long             | LON              | CORP              | US        |    431265 | PA      | $358411.80    | 0.00%             | 2027-03-31      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| BNG Bank NV                                                                 | BNG Bank NV                                                                                            | CUSIP: 09657SPT6<br>LEI: 529900GGYMNGRQTDOO93 | Long             | STIV             | CORP              | NL        |   1800000 | PA      | $1793869.65   | 0.02%             | 2023-02-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    718000 | PA      | $721726.42    | 0.01%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                                     | Civitas Resources, Inc.                                                                                | CUSIP: 097793AE3<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    407000 | PA      | $379527.50    | 0.00%             | 2026-10-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Natixis SA                                                                  | Natixis SA                                                                                             | CUSIP: 63873KW86<br>LEI: 2549003L5ZG5M2ZSE107 | Long             | STIV             | CORP              | FR        |   1000000 | PA      | $969792.78    | 0.01%             | 2023-09-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Toyota Industries Commercial Finance, Inc.                                  | Toyota Industries Commercial Finance, Inc.                                                             | CUSIP: 89232MT95<br>LEI: 54930085LCL2BOXUSV19 | Long             | STIV             | CORP              | US        |    111000 | PA      | $109100.74    | 0.00%             | 2023-06-09      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KF62, Class B                                                        | CUSIP: 30310WAF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    533038 | PA      | $515166.20    | 0.00%             | 2026-04-25      | Floating      | 6.44%                 | Yes           |                  2 | On Loan: No      |
| Federative Republic of Brazil                                               | Federative Republic of Brazil                                                                          | CUSIP: 105756CA6<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   1600000 | PA      | $1513300.00   | 0.01%             | 2029-05-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Camelot Finance LP                                                          | Camelot Finance LP, 1st Lien Term Loan B                                                               | CUSIP: L2000AAD2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    893436 | PA      | $892042.14    | 0.01%             | 2026-10-30      | Variable      | 7.52%                 | No            |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                             | Live Nation Entertainment, Inc.                                                                        | CUSIP: 538034AK5<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   2455000 | PA      | $2384181.03   | 0.02%             | 2024-11-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |    134596 | NS      | $7346249.68   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW LLC                                                                     | CDW LLC                                                                                                | CUSIP: 12513GBD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7836000 | PA      | $7275726.00   | 0.07%             | 2028-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Claire's Stores, Inc.                                                       | Claire's Stores, Inc.                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3230 | NS      | $7186750.00   | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1712000 | PA      | $1750656.96   | 0.02%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                                            | Altice France SA                                                                                       | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   3532000 | PA      | $2792737.39   | 0.03%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Netflix, Inc.                                                               | Netflix, Inc.                                                                                          | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   1714000 | PA      | $1778153.01   | 0.02%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Studio City Finance Ltd.                                                    | Studio City Finance Ltd.                                                                               | CUSIP: N/A<br>LEI: 254900D6R731QAUIG324       | Long             | DBT              | CORP              | VG        |   2400000 | PA      | $2226000.00   | 0.02%             | 2025-07-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                                       | Prestige Brands, Inc.                                                                                  | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    900000 | PA      | $859725.00    | 0.01%             | 2028-01-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Bridgestone Corp.                                                           | Bridgestone Corp.                                                                                      | CUSIP: N/A<br>LEI: 549300DHPOF90OYYD780       | Long             | EC               | CORP              | JP        |    254400 | NS      | $9497563.72   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| SSE plc                                                                     | SSE plc                                                                                                | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |    448916 | NS      | $9581967.96   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Global Infrastructure Solutions, Inc.                                       | Global Infrastructure Solutions, Inc.                                                                  | CUSIP: 37960XAA5<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |   3370000 | PA      | $2763400.00   | 0.03%             | 2029-06-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-K724, Class X2A                                                      | CUSIP: 30295XAN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        | 151464201 | PA      | $49301.60     | 0.00%             | 2049-12-25      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| InterContinental Hotels Group plc                                           | InterContinental Hotels Group plc                                                                      | CUSIP: N/A<br>LEI: 2138007ZFQYRUSLU3J98       | Long             | EC               | CORP              | GB        |    124384 | NS      | $8635188.70   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YEB7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   4460000 | PA      | $4254745.58   | 0.04%             | 2025-01-22      | Variable      | 0.79%                 | No            |                  2 | On Loan: —       |
| Sands China Ltd.                                                            | Sands China Ltd.                                                                                       | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $243750.00    | 0.00%             | 2028-08-08      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp.                                                      | ON Semiconductor Corp.                                                                                 | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |   2751000 | PA      | $2510315.01   | 0.02%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2006-5, Class CB7                                       | CUSIP: 05950BAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    255863 | PA      | $225565.75    | 0.00%             | 2046-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Organon & Co.                                                               | Organon & Co.                                                                                          | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2527812.00   | 0.02%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2017-56, Class SC                                                                         | CUSIP: 38376UJV2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2680375 | PA      | $341838.90    | 0.00%             | 2047-04-20      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| Ineos US Finance LLC                                                        | Ineos US Finance LLC, 1st Lien Term Loan B                                                             | CUSIP: 45672JAL4<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |    496250 | PA      | $493689.35    | 0.00%             | 2028-11-08      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AM9<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   4668000 | PA      | $2097999.36   | 0.02%             | 2029-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                              | 1011778 BC ULC                                                                                         | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1950000 | PA      | $1782261.00   | 0.02%             | 2028-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Multi-Family Structured Credit Risk                                   | FHLMC, Multifamily Structured Pass-Through Certificates, Series 2022-MN5, Class B1                     | CUSIP: 35563LAA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   8302000 | PA      | $8507381.52   | 0.08%             | 2042-11-25      | Floating      | 13.81%                | Yes           |                  3 | On Loan: No      |
| Bear Stearns ALT-A Trust                                                    | Bear Stearns ALT-A Trust, Series 2006-8, Class 3A1                                                     | CUSIP: 07387QAX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    191129 | PA      | $169252.35    | 0.00%             | 2034-02-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                           | Credit Acceptance Auto Loan Trust, Series 2022-3A, Class D                                             | CUSIP: 22534QAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $991875.40    | 0.01%             | 2033-04-18      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2020-BN26, Class D                                                                        | CUSIP: 06540JAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1350000 | PA      | $860956.43    | 0.01%             | 2063-03-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                                     | Molina Healthcare, Inc.                                                                                | CUSIP: 60855RAJ9<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1062082.50   | 0.01%             | 2028-06-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Holdings, Inc.                                                    | Sirius XM Holdings, Inc.                                                                               | CUSIP: 82968B103<br>LEI: 54930055RWDMVXAGZK98 | Long             | EC               | CORP              | US        |   1063451 | NS      | $6157381.29   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Oak Street Investment Grade Net Lease Fund                                  | Oak Street Investment Grade Net Lease Fund, Series 2021-1A, Class A3                                   | CUSIP: 67190AAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2257359.75   | 0.02%             | 2051-01-20      | Fixed         | 2.80%                 | Yes           |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                                         | Starwood Mortgage Residential Trust, Series 2020-1, Class B1                                           | CUSIP: 85573AAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5410000 | PA      | $4422723.69   | 0.04%             | 2050-02-25      | Variable      | 3.73%                 | Yes           |                  2 | On Loan: No      |
| American Transmission Systems, Inc.                                         | American Transmission Systems, Inc.                                                                    | CUSIP: 030288AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $17025.14     | 0.00%             | 2032-01-15      | Fixed         | 2.65%                 | Yes           |                  2 | On Loan: No      |
| Entergy Texas, Inc.                                                         | Entergy Texas, Inc.                                                                                    | CUSIP: 29365TAK0<br>LEI: LWXX58X12AJXISQ28573 | Long             | DBT              | CORP              | US        |    200000 | PA      | $162043.91    | 0.00%             | 2031-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                                         | Lithia Motors, Inc.                                                                                    | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |   1349000 | PA      | $1148538.60   | 0.01%             | 2031-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                                          | Canadian Imperial Bank of Commerce                                                                     | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | CA        |    123560 | NS      | $5640550.45   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Corp.                                                                   | NCR Corp.                                                                                              | CUSIP: 62886EAV0<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   5370000 | PA      | $5316300.00   | 0.05%             | 2029-09-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                     | BNP Paribas Issuance BV, ELN, (linked to Nasdaq 100 Index)                                             | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |      9043 | PA      | $108944909.49 | 1.05%             | 2023-03-16      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Singapore Exchange Ltd.                                                     | Singapore Exchange Ltd.                                                                                | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | EC               | CORP              | SG        |   1376100 | NS      | $9692589.77   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                                                | DNB Bank ASA                                                                                           | CUSIP: N/A<br>LEI: 549300GKFG0RYRRQ1414       | Long             | EC               | CORP              | NO        |    144324 | NS      | $2698796.18   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ocado Group plc                                                             | Ocado Group plc                                                                                        | CUSIP: N/A<br>LEI: 213800LO8F61YB8MBC74       | Long             | DBT              | CORP              | GB        |    300000 | PA      | $251131.55    | 0.00%             | 2027-01-18      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Ferguson plc                                                                | Ferguson plc                                                                                           | CUSIP: N/A<br>LEI: 213800DU1LGY3R2S2X42       | Long             | EC               | CORP              | JE        |     24244 | NS      | $3415861.06   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Centene Corp.                                                               | Centene Corp.                                                                                          | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2850180.00   | 0.03%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                                       | Countrywide Asset-Backed Certificates, Series 2004-3, Class M1                                         | CUSIP: 1266714T0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    426820 | PA      | $415307.13    | 0.00%             | 2034-06-25      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Lloyds Bank Corporate Markets plc                                           | Lloyds Bank plc                                                                                        | CUSIP: 53948BWB1<br>LEI: 213800MBWEIJDM5CU638 | Long             | STIV             | CORP              | GB        |    600000 | PA      | $581554.18    | 0.01%             | 2023-09-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                               | Comcast Corp.                                                                                          | CUSIP: 20030NCT6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    205000 | PA      | $203144.11    | 0.00%             | 2028-10-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K089, Class X3                        | CUSIP: 3137FL6S8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  22283000 | PA      | $2469083.41   | 0.02%             | 2046-01-25      | Variable      | 2.30%                 | No            |                  2 | On Loan: No      |
| Brink's Co. (The)                                                           | Brink's Co. (The)                                                                                      | CUSIP: 109696AA2<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |   3840000 | PA      | $3582670.85   | 0.03%             | 2027-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ABJA Investment Co. Pte. Ltd.                                               | ABJA Investment Co. Pte. Ltd.                                                                          | CUSIP: N/A<br>LEI: 254900E6OE5YJ9WCCU19       | Long             | DBT              | CORP              | SG        |   2000000 | PA      | $1945000.00   | 0.02%             | 2028-01-24      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| PRPM LLC                                                                    | PRPM LLC, Series 2021-6, Class A2                                                                      | CUSIP: 69360FAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3447174 | PA      | $3017348.29   | 0.03%             | 2026-07-25      | Variable      | 3.47%                 | Yes           |                  2 | On Loan: No      |
| Klepierre SA                                                                | Klepierre SA                                                                                           | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |    317139 | NS      | $8049096.54   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J14, Class A7                                                      | CUSIP: 12668AQ65<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1171749 | PA      | $775629.93    | 0.01%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UniCredit SpA                                                               | UniCredit SpA                                                                                          | CUSIP: 904678AW9<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $176334.02    | 0.00%             | 2027-06-03      | Variable      | 1.98%                 | Yes           |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                                | Verizon Communications, Inc.                                                                           | CUSIP: 92343VCQ5<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    246000 | PA      | $236538.19    | 0.00%             | 2034-11-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AC1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    965000 | PA      | $653681.35    | 0.01%             | 2027-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| IAA, Inc.                                                                   | IAA, Inc.                                                                                              | CUSIP: 449253AB9<br>LEI: 549300PZCOPC5178W747 | Long             | DBT              | CORP              | US        |    450000 | PA      | $451687.50    | 0.00%             | 2027-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| ION Corp.                                                                   | ION Corp., 1st Lien Term Loan B                                                                        | CUSIP: 42328DAF5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    388876 | PA      | $383389.16    | 0.00%             | 2028-03-11      | Variable      | 8.17%                 | No            |                  2 | On Loan: No      |
| Sydney Airport Finance Co. Pty. Ltd.                                        | Sydney Airport Finance Co. Pty. Ltd.                                                                   | CUSIP: 87124VAD1<br>LEI: 549300MJAANHLHOVTO40 | Long             | DBT              | CORP              | AU        |    441000 | PA      | $440439.86    | 0.00%             | 2023-03-22      | Fixed         | 3.90%                 | Yes           |                  2 | On Loan: No      |
| Conn's Receivables Funding LLC                                              | Conn's Receivables Funding LLC, Series 2022-A, Class B                                                 | CUSIP: 20825YAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $998278.30    | 0.01%             | 2026-12-15      | Fixed         | 9.52%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                  | Occidental Petroleum Corp.                                                                             | CUSIP: 674599DZ5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   6014000 | PA      | $6652987.50   | 0.06%             | 2027-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Eskom Holdings SOC Ltd.                                                     | Eskom Holdings SOC Ltd.                                                                                | CUSIP: N/A<br>LEI: 3789001900ED06F65111       | Long             | DBT              | NUSS              | ZA        |   1150000 | PA      | $1097387.50   | 0.01%             | 2025-02-11      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967GD7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1053360.00   | 0.01%             | 2023-04-30      | Floating      | 8.87%                 | No            |                  2 | On Loan: No      |
| Pearl Intermediate Parent LLC                                               | Pearl Intermediate Parent LLC, 1st Lien Term Loan B-3                                                  | CUSIP: 70476XAK1<br>LEI: 549300V0HK8MSXZNOM91 | Long             | LON              | CORP              | US        |    297664 | PA      | $282111.29    | 0.00%             | 2025-02-14      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2013-GC12, Class E                                                | CUSIP: 36197XAC8<br>LEI: 549300SSCQUZ3RRV2T53 | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $766806.56    | 0.01%             | 2046-06-10      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                                                 | Cheniere Energy Partners LP                                                                            | CUSIP: 16411QAN1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    170000 | PA      | $141921.10    | 0.00%             | 2032-01-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| OSB Group plc                                                               | OSB Group plc                                                                                          | CUSIP: N/A<br>LEI: 213800ZBKL9BHSL2K459       | Long             | EC               | CORP              | GB        |    270941 | NS      | $1826655.53   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ASR Nederland NV                                                            | ASR Nederland NV                                                                                       | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |     58866 | NS      | $2786217.24   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Group NV                                                                | KBC Group NV                                                                                           | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | DBT              | CORP              | BE        |   1800000 | PA      | $1903056.09   | 0.02%             | 2024-03-05      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2006-5, Class 2CB5            | CUSIP: 93934NAU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    148313 | PA      | $106865.63    | 0.00%             | 2036-07-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                                                | Samsung Electronics Co. Ltd.                                                                           | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |    756138 | NS      | $37663425.61  | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| CapitaLand Integrated Commercial Trust                                      | CapitaLand Integrated Commercial Trust                                                                 | CUSIP: N/A<br>LEI: 54930031292WUTXF0L29       | Long             | EC               | CORP              | SG        |   4118100 | NS      | $6737767.13   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2016-71, Class QI                                                                         | CUSIP: 38379UUY0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  43574645 | PA      | $1805162.48   | 0.02%             | 2057-11-16      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2003-29, Class 3A1                              | CUSIP: 22541Q3Z3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    170409 | PA      | $162560.22    | 0.00%             | 2033-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Operating Partners LP                                        | NextEra Energy Operating Partners LP                                                                   | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    946000 | PA      | $890394.12    | 0.01%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418EB90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     56851 | PA      | $49823.29     | 0.00%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Confluent, Inc.                                                             | Confluent, Inc.                                                                                        | CUSIP: 20717MAB9<br>LEI: 254900MRZ83YWUV7SN74 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1209936.00   | 0.01%             | 2027-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                         | Post Holdings, Inc.                                                                                    | CUSIP: 737446AM6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    542000 | PA      | $533913.36    | 0.01%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Home Equity Mortgage Loan Asset-Backed Trust                                | Home Equity Mortgage Loan Asset-Backed Trust, Series 2004-C, Class M2                                  | CUSIP: 456606FV9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    636042 | PA      | $567699.07    | 0.01%             | 2035-03-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AL3<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |    631000 | PA      | $607763.43    | 0.01%             | 2026-06-26      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Carnival Holdings Bermuda Ltd.                                              | Carnival Holdings Bermuda Ltd.                                                                         | CUSIP: 14366RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2434000 | PA      | $2628720.00   | 0.03%             | 2028-05-01      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: No      |
| Taylor Wimpey plc                                                           | Taylor Wimpey plc                                                                                      | CUSIP: N/A<br>LEI: 21380089BTRXTD8S3R66       | Long             | EC               | CORP              | GB        |   2277669 | NS      | $3304723.61   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                         | Medline Borrower LP, 1st Lien Term Loan B                                                              | CUSIP: 58503UAC7<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   3451318 | PA      | $3347295.57   | 0.03%             | 2028-10-23      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418EHK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     97255 | PA      | $96057.60     | 0.00%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The)                                                                              | CUSIP: 0641598K5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    280000 | PA      | $248137.88    | 0.00%             | 2026-09-15      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                                         | Buckeye Partners LP                                                                                    | CUSIP: 118230AQ4<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    200000 | PA      | $183048.00    | 0.00%             | 2026-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| APA Group                                                                   | APA Group                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    379415 | NS      | $2839508.61   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397A45<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   9228000 | PA      | $8624370.77   | 0.08%             | 2027-01-09      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Longfor Group Holdings Ltd.                                                 | Longfor Group Holdings Ltd.                                                                            | CUSIP: N/A<br>LEI: 254900UJX27B2F1JYR13       | Long             | DBT              | CORP              | KY        |    400000 | PA      | $326500.00    | 0.00%             | 2029-09-16      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| Aviva plc                                                                   | Aviva plc                                                                                              | CUSIP: N/A<br>LEI: YF0Y5B0IB8SM0ZFG9G81       | Long             | EC               | CORP              | GB        |    643105 | NS      | $3627017.66   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Danone SA                                                                   | Danone SA                                                                                              | CUSIP: 23636TAD2<br>LEI: 969500KMUQ2B6CBAF162 | Long             | DBT              | CORP              | FR        |    352000 | PA      | $345231.09    | 0.00%             | 2023-11-02      | Fixed         | 2.59%                 | Yes           |                  2 | On Loan: No      |
| Asset-Backed Securities Corp. Home Equity Loan Trust                        | Asset-Backed Securities Corp. Home Equity Loan Trust, Series 2005-HE6, Class M4                        | CUSIP: 04541GTN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55721 | PA      | $55439.49     | 0.00%             | 2035-07-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Spirit Aerosystems, Inc.                                                    | Spirit Aerosystems, Inc., 1st Lien Term Loan B                                                         | CUSIP: 84857HAY6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    214462 | PA      | $214516.12    | 0.00%             | 2027-01-15      | Variable      | 9.18%                 | No            |                  2 | On Loan: No      |
| Origin Energy Ltd.                                                          | Origin Energy Ltd.                                                                                     | CUSIP: N/A<br>LEI: ZSN2LWNPYW6ISMRUC664       | Long             | EC               | CORP              | AU        |    313068 | NS      | $1662256.93   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Project Boost Purchaser LLC                                                 | Project Boost Purchaser LLC, 1st Lien Term Loan B                                                      | CUSIP: 74339NAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    695133 | PA      | $681229.93    | 0.01%             | 2026-06-01      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205AU8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    680000 | PA      | $619650.00    | 0.01%             | 2028-10-12      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1073000 | PA      | $847670.00    | 0.01%             | 2029-05-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Equinix, Inc.                                                               | Equinix, Inc.                                                                                          | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     27154 | NS      | $20043182.02  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMCC Commercial Mortgage Securities Trust                                  | JPMCC Commercial Mortgage Securities Trust, Series 2017-JP5, Class D                                   | CUSIP: 46647TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7577000 | PA      | $5906822.35   | 0.06%             | 2050-03-15      | Variable      | 4.53%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | DBT              | CORP              | CH        |   8000000 | PA      | $8058400.00   | 0.08%             | 2025-02-19      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AH0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2375000 | PA      | $1065383.44   | 0.01%             | 2028-01-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PCCW Ltd.                                                                   | PCCW Ltd.                                                                                              | CUSIP: N/A<br>LEI: 254900SI7GPUPA1TJX39       | Long             | EC               | CORP              | HK        |   3791000 | NS      | $1862759.71   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    970000 | PA      | $898462.50    | 0.01%             | 2047-09-20      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 6174468W2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3184000 | PA      | $3180876.50   | 0.03%             | 2024-01-25      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Gemini HDPE LLC                                                             | Gemini HDPE LLC, 1st Lien Term Loan B                                                                  | CUSIP: 36866KAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    563901 | PA      | $561961.53    | 0.01%             | 2027-12-31      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| HLF Financing SARL LLC                                                      | HLF Financing SARL LLC                                                                                 | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $731250.00    | 0.01%             | 2029-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Summit Midstream Holdings LLC                                               | Summit Midstream Holdings LLC                                                                          | CUSIP: 86614WAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2069000 | PA      | $2014688.75   | 0.02%             | 2026-10-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3181000 | PA      | $3109427.50   | 0.03%             | 2028-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GHR3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5025000 | PA      | $4927687.26   | 0.05%             | 2025-03-15      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| Manufacturers & Traders Trust Co.                                           | Manufacturers & Traders Trust Co.                                                                      | CUSIP: 55279HAT7<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2034031.60   | 0.02%             | 2025-11-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                        | Mitsubishi UFJ Financial Group, Inc.                                                                   | CUSIP: 606822BW3<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   1723000 | PA      | $1614898.24   | 0.02%             | 2025-07-19      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| CWABS, Inc. Asset-Backed Certificates                                       | CWABS, Inc., Asset-Backed Certificates, Series 2004-1, Class M3                                        | CUSIP: 126671Z41<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    131477 | PA      | $131316.41    | 0.00%             | 2034-02-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| WFRBS Commercial Mortgage Trust                                             | WFRBS Commercial Mortgage Trust, Series 2014-C22, Class D                                              | CUSIP: 92890KAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5505000 | PA      | $4364233.53   | 0.04%             | 2057-09-15      | Variable      | 3.91%                 | Yes           |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                                | Hess Midstream Operations LP                                                                           | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2608000 | PA      | $2284105.96   | 0.02%             | 2030-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                                  | Australia & New Zealand Banking Group Ltd.                                                             | CUSIP: 05254HAA2<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |   5653000 | PA      | $5701050.50   | 0.05%             | 2026-06-15      | Variable      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| EnLink Midstream Partners LP                                                | EnLink Midstream Partners LP                                                                           | CUSIP: 29336UAC1<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    522000 | PA      | $437221.98    | 0.00%             | 2044-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Best Buy Co., Inc.                                                          | Best Buy Co., Inc.                                                                                     | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |     69408 | NS      | $6157877.76   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418EBS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     18818 | PA      | $16493.58     | 0.00%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                                    | Spirit AeroSystems, Inc.                                                                               | CUSIP: 85205TAL4<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |   3980000 | PA      | $3993691.20   | 0.04%             | 2025-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** JPMorgan Trust I

**Signature:** Timothy J. Clemens

**Name of Signer:** Timothy J. Clemens

**Title:** Treasurer and Principal Financial Officer