# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0002071691-26-012760
**Filing Date:** 2026-5
**Character Count:** 706687
**Document Hash:** 004e014e6bf541042b97eb5e3133b684
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-012760.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0002071691-26-012760

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMorgan Trust I
- **CENTRAL INDEX KEY:** 0001217286

**ORGANIZATION NAME:**
- **EIN:** 331043149
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21295
- **FILM NUMBER:** 261043769

**BUSINESS ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 800-480-4111

**MAIL ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

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

## Series and Classes Contracts Data

### JPMorgan Diversified Fund (Series ID: S000002766)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000007574 | Class I      | JDVSX           |
| C000007575 | Class L      | JPDVX           |
| C000007576 | Class A      | JDVAX           |
| C000007578 | Class C      | JDVCX           |
| C000195232 | Class R6     | JDVZX           |

## Nport-Ex

**JPMorgan Diversified Fund**

**Schedule of Portfolio Investments as of March 31, 2026**

**(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., 2026. |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE** <br>**($000)**<br>|
| **Common Stocks — 43.8%** | **Common Stocks — 43.8%** | **Common Stocks — 43.8%** |
| **Aerospace & Defense — 1.2%** | **Aerospace & Defense — 1.2%** | **Aerospace & Defense — 1.2%** |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp; Hanwha Aerospace Co. Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 589 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 637 |
| &nbsp;&nbsp;&nbsp; Karman Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp; Loar Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp; MTU Aero Engines AG (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 587 |
| &nbsp;&nbsp;&nbsp; Rolls-Royce Holdings plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 418 |
| &nbsp;&nbsp;&nbsp; Safran SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 2255 |
| &nbsp;&nbsp;&nbsp; Thales SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp; Woodward, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 40 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5915 |
| **Air Freight & Logistics — 0.0% ^** | **Air Freight & Logistics — 0.0% ^** | **Air Freight & Logistics — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 181 |
| **Automobile Components — 0.2%** | **Automobile Components — 0.2%** | **Automobile Components — 0.2%** |
| &nbsp;&nbsp;&nbsp; Continental AG (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp; Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries Ltd. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 750 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 955 |
| **Automobiles — 0.7%** | **Automobiles — 0.7%** | **Automobiles — 0.7%** |
| &nbsp;&nbsp;&nbsp; Kia Corp. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 675 |
| &nbsp;&nbsp;&nbsp; Tesla, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 2003 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 495 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3173 |
| **Banks — 3.4%** | **Banks — 3.4%** | **Banks — 3.4%** |
| &nbsp;&nbsp;&nbsp; Al Rajhi Bank (Saudi Arabia) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 503 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA (Spain) | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 467 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 855 |
| &nbsp;&nbsp;&nbsp; BankUnited, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp; Barclays plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp; 307 |
| &nbsp;&nbsp;&nbsp; Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp; Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd. (Singapore) | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 1592 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp; First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp; First Financial Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp; First Hawaiian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp; First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp; First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp; HDFC Bank Ltd., ADR (India) | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 848 |
| &nbsp;&nbsp;&nbsp; ING Groep NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp; Itausa SA (Preference) (Brazil) | &nbsp;&nbsp;&nbsp;&nbsp; 179 | &nbsp;&nbsp;&nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp; KBC Group NV (Belgium) | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 709 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Banks — continued** | **Banks — continued** | **Banks — continued** |
| &nbsp;&nbsp;&nbsp; M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp; 1488 |
| &nbsp;&nbsp;&nbsp; National Bank of Greece SA (Greece) | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp; NatWest Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 147 | &nbsp;&nbsp;&nbsp;&nbsp; 1090 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 914 |
| &nbsp;&nbsp;&nbsp; Sberbank of Russia PJSC (Russia) ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp; Standard Chartered plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 433 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA (Italy) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 859 |
| &nbsp;&nbsp;&nbsp; US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 688 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 2064 |
| &nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp; WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 134 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16236 |
| **Beverages — 0.4%** | **Beverages — 0.4%** | **Beverages — 0.4%** |
| &nbsp;&nbsp;&nbsp; Carlsberg A/S, Class B (Denmark) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp; Coca-Cola HBC AG (Italy) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp; Heineken NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 743 |
| &nbsp;&nbsp;&nbsp; Pernod Ricard SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 140 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1783 |
| **Biotechnology — 0.9%** | **Biotechnology — 0.9%** | **Biotechnology — 0.9%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 1967 |
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 214 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp; Insmed, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp; Natera, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp; Nuvalent, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp; uniQure NV (Netherlands) \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 337 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4162 |
| **Broadline Retail — 1.5%** | **Broadline Retail — 1.5%** | **Broadline Retail — 1.5%** |
| &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. (China) | &nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp; 820 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 6042 |
| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc. (Brazil) \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp; Moran Foods Backstop Equity ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 360 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Next plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 205 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7397 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Building Products — 0.6%** | **Building Products — 0.6%** | **Building Products — 0.6%** |
| &nbsp;&nbsp;&nbsp; AAON, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp; Hayward Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp; Janus International Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; Modine Manufacturing Co. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp; Trane Technologies plc | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 1863 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2906 |
| **Capital Markets — 1.8%** | **Capital Markets — 1.8%** | **Capital Markets — 1.8%** |
| &nbsp;&nbsp;&nbsp; 3i Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp; Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 1010 |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 1069 |
| &nbsp;&nbsp;&nbsp; Deutsche Boerse AG (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 1333 |
| &nbsp;&nbsp;&nbsp; Euronext NV (Netherlands) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 261 |
| &nbsp;&nbsp;&nbsp; Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. (Hong Kong) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 626 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp; MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp; Miami International Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp; Moelis & Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 1190 |
| &nbsp;&nbsp;&nbsp; Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp; Ridgepost Capital, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; St. James's Place plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp; StepStone Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp; Wealthfront Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 79 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8465 |
| **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** |
| &nbsp;&nbsp;&nbsp; Air Liquide SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 1192 |
| &nbsp;&nbsp;&nbsp; Arkema SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp; Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp; Evonik Industries AG (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp; Novonesis Novozymes B (Denmark) | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 396 |
| &nbsp;&nbsp;&nbsp; Perimeter Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp; PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Solstice Advanced Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 139 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2772 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
| &nbsp;&nbsp;&nbsp; Bilfinger SE (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; Casella Waste Systems, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp; Mitie Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp; MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp; SPIE SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 247 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 902 |
| **Communications Equipment — 0.1%** | **Communications Equipment — 0.1%** | **Communications Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ciena Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp; Digi International, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 95 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 508 |
| **Construction & Engineering — 0.5%** | **Construction & Engineering — 0.5%** | **Construction & Engineering — 0.5%** |
| &nbsp;&nbsp;&nbsp; Balfour Beatty plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp; Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp; Legence Corp., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; Maire SpA (Italy) | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Obayashi Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 731 |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp; WillScot Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp; WSP Global, Inc. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 399 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2470 |
| **Construction Materials — 0.1%** | **Construction Materials — 0.1%** | **Construction Materials — 0.1%** |
| &nbsp;&nbsp;&nbsp; Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 349 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 588 |
| **Consumer Finance — 0.5%** | **Consumer Finance — 0.5%** | **Consumer Finance — 0.5%** |
| &nbsp;&nbsp;&nbsp; American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 1579 |
| &nbsp;&nbsp;&nbsp; Bajaj Finance Ltd. (India) | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 372 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp; Figure Technology Solutions, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 72 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2361 |
| **Consumer Staples Distribution & Retail — 0.7%** | **Consumer Staples Distribution & Retail — 0.7%** | **Consumer Staples Distribution & Retail — 0.7%** |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc. (The) \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp; Performance Food Group Co. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 1931 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3206 |
| **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** |
| &nbsp;&nbsp;&nbsp; AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 154 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Containers & Packaging — continued** | **Containers & Packaging — continued** | **Containers & Packaging — continued** |
| &nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp; Smurfit Westrock plc | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 126 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 483 |
| **Distributors — 0.0% ^** | **Distributors — 0.0% ^** | **Distributors — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 159 |
| **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp; Driven Brands Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 52 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 240 |
| **Diversified Telecommunication Services — 0.5%** | **Diversified Telecommunication Services — 0.5%** | **Diversified Telecommunication Services — 0.5%** |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 686 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom AG (Registered) (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 1058 |
| &nbsp;&nbsp;&nbsp; Telstra Group Ltd. (Australia) | &nbsp;&nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp;&nbsp; 693 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2437 |
| **Electric Utilities — 0.9%** | **Electric Utilities — 0.9%** | **Electric Utilities — 0.9%** |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp; NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 2425 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp; Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 705 |
| &nbsp;&nbsp;&nbsp; SSE plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 220 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4313 |
| **Electrical Equipment — 0.6%** | **Electrical Equipment — 0.6%** | **Electrical Equipment — 0.6%** |
| &nbsp;&nbsp;&nbsp; AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 269 |
| &nbsp;&nbsp;&nbsp; Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 827 |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; Forgent Power Solutions, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp; Legrand SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 775 |
| &nbsp;&nbsp;&nbsp; Nordex SE (Germany) \* | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp; Siemens Energy AG (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 281 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2672 |
| **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 834 |
| &nbsp;&nbsp;&nbsp; Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp; Bel Fuse, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp; CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp; Fabrinet (Thailand) \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp; Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp; Keyence Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp; Kitron ASA (Norway) | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 186 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Electronic Equipment, Instruments & Components — continued** | **Electronic Equipment, Instruments & Components — continued** | **Electronic Equipment, Instruments & Components — continued** |
| &nbsp;&nbsp;&nbsp; TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 182 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2940 |
| **Energy Equipment & Services — 0.3%** | **Energy Equipment & Services — 0.3%** | **Energy Equipment & Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 919 |
| &nbsp;&nbsp;&nbsp; Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp; Flowco Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp; SBM Offshore NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp; TechnipFMC plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 248 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1624 |
| **Entertainment — 0.6%** | **Entertainment — 0.6%** | **Entertainment — 0.6%** |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 564 |
| &nbsp;&nbsp;&nbsp; ROBLOX Corp., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 228 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 1709 |
| &nbsp;&nbsp;&nbsp; Warner Music Group Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 70 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2910 |
| **Financial Services — 1.0%** | **Financial Services — 1.0%** | **Financial Services — 1.0%** |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc., Class B \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 695 |
| &nbsp;&nbsp;&nbsp; Corpay, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 3629 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 70 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4997 |
| **Food Products — 0.4%** | **Food Products — 0.4%** | **Food Products — 0.4%** |
| &nbsp;&nbsp;&nbsp; Cranswick plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp; Freshpet, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp; Nestle SA (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 1040 |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp; Utz Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 85 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1930 |
| **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp; Landstar System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; Saia, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 198 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 559 |
| **Health Care Equipment & Supplies — 0.7%** | **Health Care Equipment & Supplies — 0.7%** | **Health Care Equipment & Supplies — 0.7%** |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 153 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Health Care Equipment & Supplies — continued** | **Health Care Equipment & Supplies — continued** | **Health Care Equipment & Supplies — continued** |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 314 |
| &nbsp;&nbsp;&nbsp; Envista Holdings Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp; ICU Medical, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp; Medtronic plc  | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 1214 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 1239 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3468 |
| **Health Care Providers & Services — 0.5%** | **Health Care Providers & Services — 0.5%** | **Health Care Providers & Services — 0.5%** |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 478 |
| &nbsp;&nbsp;&nbsp; Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp; Cigna Group (The) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp; Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp; Henry Schein, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp; Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; NMC Health plc (United Arab Emirates) ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 698 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2558 |
| **Health Care REITs — 0.1%** | **Health Care REITs — 0.1%** | **Health Care REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 300 |
| **Health Care Technology — 0.0% ^** | **Health Care Technology — 0.0% ^** | **Health Care Technology — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Doximity, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 63 |
| **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 180 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 238 |
| **Hotels, Restaurants & Leisure — 1.2%** | **Hotels, Restaurants & Leisure — 1.2%** | **Hotels, Restaurants & Leisure — 1.2%** |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 543 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp; Compass Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 560 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 2227 |
| &nbsp;&nbsp;&nbsp; Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp; Planet Fitness, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp; Shake Shack, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 167 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** |
| &nbsp;&nbsp;&nbsp; Yum China Holdings, Inc. (China) | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 512 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 578 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5916 |
| **Household Durables — 0.4%** | **Household Durables — 0.4%** | **Household Durables — 0.4%** |
| &nbsp;&nbsp;&nbsp; Garmin Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp; Midea Group Co. Ltd., Class H (China) | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp; Mohawk Industries, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Sony Group Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp; 1269 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1984 |
| **Household Products — 0.1%** | **Household Products — 0.1%** | **Household Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp; Reckitt Benckiser Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 173 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 337 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
| &nbsp;&nbsp;&nbsp; RWE AG (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 302 |
| **Industrial Conglomerates — 0.4%** | **Industrial Conglomerates — 0.4%** | **Industrial Conglomerates — 0.4%** |
| &nbsp;&nbsp;&nbsp; 3M Co. | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 659 |
| &nbsp;&nbsp;&nbsp; Siemens AG (Registered) (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 1018 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1677 |
| **Industrial REITs — 0.1%** | **Industrial REITs — 0.1%** | **Industrial REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp; Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 276 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 443 |
| **Insurance — 1.5%** | **Insurance — 1.5%** | **Insurance — 1.5%** |
| &nbsp;&nbsp;&nbsp; Accelerant Holdings, Class A (Cayman Islands) \* | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp; AIA Group Ltd. (Hong Kong) | &nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 638 |
| &nbsp;&nbsp;&nbsp; Allianz SE (Registered) (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp; Aon plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp; Arch Capital Group Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 561 |
| &nbsp;&nbsp;&nbsp; ASR Nederland NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp; Chubb Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; Intact Financial Corp. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp; Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG (Registered) (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 2064 |
| &nbsp;&nbsp;&nbsp; Neptune Insurance Holdings, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp; RLI Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp; Tokio Marine Holdings, Inc. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 690 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Insurance — continued** | **Insurance — continued** | **Insurance — continued** |
| &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp; Unipol Assicurazioni SpA (Italy) | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 186 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7120 |
| **Interactive Media & Services — 2.2%** | **Interactive Media & Services — 2.2%** | **Interactive Media & Services — 2.2%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 3066 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 1845 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 4339 |
| &nbsp;&nbsp;&nbsp; Reddit, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. (China) | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 1356 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10685 |
| **IT Services — 0.3%** | **IT Services — 0.3%** | **IT Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; Accenture plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 501 |
| &nbsp;&nbsp;&nbsp; Capgemini SE (France) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp; Cloudflare, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp; DigitalOcean Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; GoDaddy, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp; Indra Sistemas SA (Spain) | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp; Shopify, Inc., Class A (Canada) \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; Snowflake, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 119 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1630 |
| **Leisure Products — 0.1%** | **Leisure Products — 0.1%** | **Leisure Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Acushnet Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp; Asmodee Group AB, Class B (Sweden) \* | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp; Games Workshop Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 160 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 357 |
| **Life Sciences Tools & Services — 0.1%** | **Life Sciences Tools & Services — 0.1%** | **Life Sciences Tools & Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; Medpace Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 185 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 600 |
| **Machinery — 1.1%** | **Machinery — 1.1%** | **Machinery — 1.1%** |
| &nbsp;&nbsp;&nbsp; Alliance Laundry Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, Class A (Sweden) | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 758 |
| &nbsp;&nbsp;&nbsp; Danieli & C Officine Meccaniche SpA (Italy) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp; Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 630 |
| &nbsp;&nbsp;&nbsp; Hillman Solutions Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp; IHI Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp; ITT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp; Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp; Middleby Corp. (The) \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp; RBC Bearings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 200 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Machinery — continued** | **Machinery — continued** | **Machinery — continued** |
| &nbsp;&nbsp;&nbsp; VAT Group AG (Switzerland) (b) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp; Volvo AB, Class B (Sweden) | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 1284 |
| &nbsp;&nbsp;&nbsp; XCMG Construction Machinery Co. Ltd., Class A (China) | &nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp;&nbsp;&nbsp; 274 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5105 |
| **Media — 0.0% ^** | **Media — 0.0% ^** | **Media — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 133 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 233 |
| **Metals & Mining — 0.6%** | **Metals & Mining — 0.6%** | **Metals & Mining — 0.6%** |
| &nbsp;&nbsp;&nbsp; GMK Norilskiy Nickel PAO (Russia) ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; GMK Norilskiy Nickel PAO, ADR (Russia) ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; Gold Fields Ltd., ADR (South Africa) | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 214 |
| &nbsp;&nbsp;&nbsp; Magnitogorsk Iron & Steel Works PJSC (Russia) ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Rio Tinto plc (Australia) | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 1939 |
| &nbsp;&nbsp;&nbsp; Severstal PAO, GDR (Russia) ‡ \* (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; Zijin Mining Group Co. Ltd., Class H (China) | &nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp; 540 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2693 |
| **Multi-Utilities — 0.5%** | **Multi-Utilities — 0.5%** | **Multi-Utilities — 0.5%** |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp; E.ON SE (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp; Engie SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp; 1661 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2360 |
| **Oil, Gas & Consumable Fuels — 1.8%** | **Oil, Gas & Consumable Fuels — 1.8%** | **Oil, Gas & Consumable Fuels — 1.8%** |
| &nbsp;&nbsp;&nbsp; Canadian Natural Resources Ltd. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 393 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 729 |
| &nbsp;&nbsp;&nbsp; DT Midstream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 526 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 1745 |
| &nbsp;&nbsp;&nbsp; Friedrich Vorwerk Group SE (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; Gazprom PJSC (Russia) ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; Gaztransport Et Technigaz SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 169 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; Novatek PJSC (Russia) ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; Rosneft Oil Co. PJSC (Russia) ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; Shell plc | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 3811 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 388 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8537 |
| **Passenger Airlines — 0.0% ^** | **Passenger Airlines — 0.0% ^** | **Passenger Airlines — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 114 |
| **Personal Care Products — 0.0% ^** | **Personal Care Products — 0.0% ^** | **Personal Care Products — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; elf Beauty, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 195 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Pharmaceuticals — 1.7%** | **Pharmaceuticals — 1.7%** | **Pharmaceuticals — 1.7%** |
| &nbsp;&nbsp;&nbsp; Bayer AG (Registered) (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 896 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 1053 |
| &nbsp;&nbsp;&nbsp; Galderma Group AG (Switzerland) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; GSK plc | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 349 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 1913 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp; Novartis AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 1277 |
| &nbsp;&nbsp;&nbsp; Novo Nordisk A/S, Class B (Denmark) | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 750 |
| &nbsp;&nbsp;&nbsp; UCB SA (Belgium) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 540 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8076 |
| **Professional Services — 0.2%** | **Professional Services — 0.2%** | **Professional Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Andersen Group, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton Holding Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; First Advantage Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp; Paylocity Holding Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp; RELX plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 411 |
| &nbsp;&nbsp;&nbsp; TransUnion | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp; Verra Mobility Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 107 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1136 |
| **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** |
| &nbsp;&nbsp;&nbsp; CBRE Group, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; Colliers International Group, Inc. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 169 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 596 |
| **Residential REITs — 0.1%** | **Residential REITs — 0.1%** | **Residential REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; American Homes 4 Rent, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 183 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 355 |
| **Retail REITs — 0.0% ^** | **Retail REITs — 0.0% ^** | **Retail REITs — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 207 |
| **Semiconductors & Semiconductor Equipment — 5.6%** | **Semiconductors & Semiconductor Equipment — 5.6%** | **Semiconductors & Semiconductor Equipment — 5.6%** |
| &nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc. (Japan) \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp; ASM International NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 3086 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV (Registered), NYRS (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 3886 |
| &nbsp;&nbsp;&nbsp; Infineon Technologies AG (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 822 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 10839 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 525 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Semiconductors & Semiconductor Equipment — continued** | **Semiconductors & Semiconductor Equipment — continued** | **Semiconductors & Semiconductor Equipment — continued** |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp; Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp; SK hynix, Inc. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 801 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 1735 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Taiwan) | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 2699 |
| &nbsp;&nbsp;&nbsp; Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 26687 |
| **Software — 1.8%** | **Software — 1.8%** | **Software — 1.8%** |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp; CCC Intelligent Solutions Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp; HubSpot, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 831 |
| &nbsp;&nbsp;&nbsp; Manhattan Associates, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 5559 |
| &nbsp;&nbsp;&nbsp; nCino, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 678 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp; Qualys, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp; Sage Group plc (The) (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp; Temenos AG (Registered) (Switzerland) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp; Tyler Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 66 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8784 |
| **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** |
| &nbsp;&nbsp;&nbsp; American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 478 |
| &nbsp;&nbsp;&nbsp; Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp; Public Storage | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp; Rayonier, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 99 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 920 |
| **Specialty Retail — 1.0%** | **Specialty Retail — 1.0%** | **Specialty Retail — 1.0%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1334 |
| &nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp; Burlington Stores, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp; Carvana Co., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp; Five Below, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 2066 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp; Warby Parker, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 74 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4815 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Technology Hardware, Storage & Peripherals — 1.6%** | **Technology Hardware, Storage & Peripherals — 1.6%** | **Technology Hardware, Storage & Peripherals — 1.6%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 6878 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 382 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7662 |
| **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** |
| &nbsp;&nbsp;&nbsp; Asics Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 333 |
| &nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA (Registered) (Switzerland) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp; Columbia Sportswear Co. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE (France) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 730 |
| &nbsp;&nbsp;&nbsp; NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 42 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1572 |
| **Tobacco — 0.3%** | **Tobacco — 0.3%** | **Tobacco — 0.3%** |
| &nbsp;&nbsp;&nbsp; British American Tobacco plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 722 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 499 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1221 |
| **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp; Core & Main, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp; ITOCHU Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 599 |
| &nbsp;&nbsp;&nbsp; United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 760 |
| &nbsp;&nbsp;&nbsp; Xometry, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 66 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $150,112)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 209983 |
| **Investment Companies — 20.7%** | **Investment Companies — 20.7%** | **Investment Companies — 20.7%** |
| **Fixed Income — 18.7%** | **Fixed Income — 18.7%** | **Fixed Income — 18.7%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Core Bond Fund Class R6 Shares (c) | &nbsp;&nbsp;&nbsp;&nbsp; 4776 | &nbsp;&nbsp;&nbsp;&nbsp; 49428 |
| &nbsp;&nbsp;&nbsp; JPMorgan High Yield Fund Class R6 Shares (c) | &nbsp;&nbsp;&nbsp;&nbsp; 2312 | &nbsp;&nbsp;&nbsp;&nbsp; 15006 |
| &nbsp;&nbsp;&nbsp; JPMorgan Income Fund Class R6 Shares (c) | &nbsp;&nbsp;&nbsp;&nbsp; 2987 | &nbsp;&nbsp;&nbsp;&nbsp; 25420 |
| &nbsp;&nbsp;&nbsp; Total Fixed Income |  | &nbsp;&nbsp;&nbsp;&nbsp; 89854 |
| **U.S. Equity — 2.0%** | **U.S. Equity — 2.0%** | **U.S. Equity — 2.0%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Large Cap Value Fund Class R6 Shares (c) | &nbsp;&nbsp;&nbsp;&nbsp; 459 | &nbsp;&nbsp;&nbsp;&nbsp; 9616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $97,566)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 99470 |
|  | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **U.S. Treasury Obligations — 11.4%** | **U.S. Treasury Obligations — 11.4%** | **U.S. Treasury Obligations — 11.4%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 5/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 906 | &nbsp;&nbsp;&nbsp;&nbsp; 571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 3050 | &nbsp;&nbsp;&nbsp;&nbsp; 2320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 2/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 2070 | &nbsp;&nbsp;&nbsp;&nbsp; 1657 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **U.S. Treasury Obligations — continued** | **U.S. Treasury Obligations — continued** | **U.S. Treasury Obligations — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 8/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp; 1110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 5/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp; 569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 8/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1337 | &nbsp;&nbsp;&nbsp;&nbsp; 654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 5/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 1564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp; 717 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/31/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9194 | &nbsp;&nbsp;&nbsp;&nbsp; 9222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 8/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 6500 | &nbsp;&nbsp;&nbsp;&nbsp; 6436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4318 | &nbsp;&nbsp;&nbsp;&nbsp; 4285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3183 | &nbsp;&nbsp;&nbsp;&nbsp; 3155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp; 1739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 5/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4791 | &nbsp;&nbsp;&nbsp;&nbsp; 4762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 5/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 645 | &nbsp;&nbsp;&nbsp;&nbsp; 647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 8/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 2275 | &nbsp;&nbsp;&nbsp;&nbsp; 2244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 4209 | &nbsp;&nbsp;&nbsp;&nbsp; 4208 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury STRIPS Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 11/15/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 2/15/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 5/15/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 8/15/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.29%, 11/15/2033 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp;&nbsp;&nbsp; 471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.29%, 2/15/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 8/15/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 411 | &nbsp;&nbsp;&nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.24%, 2/15/2036 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 252 | &nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 5/15/2036 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.43%, 8/15/2036 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 488 | &nbsp;&nbsp;&nbsp;&nbsp; 307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.44%, 11/15/2036 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 2/15/2037 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1896 | &nbsp;&nbsp;&nbsp;&nbsp; 1159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 5/15/2037 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 498 | &nbsp;&nbsp;&nbsp;&nbsp; 301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.37%, 8/15/2037 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1256 | &nbsp;&nbsp;&nbsp;&nbsp; 747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.37%, 11/15/2037 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 355 | &nbsp;&nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 2/15/2042 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $55,909)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 54881 |
| **Corporate Bonds — 7.4%** | **Corporate Bonds — 7.4%** | **Corporate Bonds — 7.4%** |
| **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** |
| &nbsp;&nbsp;&nbsp; Boeing Co. (The)  | &nbsp;&nbsp;&nbsp; Boeing Co. (The)  | &nbsp;&nbsp;&nbsp; Boeing Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.39%, 5/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 5/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 14 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Aerospace & Defense — continued** | **Aerospace & Defense — continued** | **Aerospace & Defense — continued** |
| &nbsp;&nbsp;&nbsp; Leidos, Inc. 4.38%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; RTX Corp. 4.13%, 11/16/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp; 147 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 573 |
| **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America 5.30%, 6/24/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp;&nbsp;&nbsp; 218 |
| **Banks — 1.7%** | **Banks — 1.7%** | **Banks — 1.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABN AMRO Bank NV (Netherlands) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.47%, <br> 12/13/2029 (f) (g)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA (Spain) 2.75%, 12/3/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 358 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp.  | &nbsp;&nbsp;&nbsp; Bank of America Corp.  | &nbsp;&nbsp;&nbsp; Bank of America Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.96%), 1.73%, 7/22/2027 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp;&nbsp;&nbsp; 506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.65%), 5.47%, 1/23/2035 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 346 | &nbsp;&nbsp;&nbsp;&nbsp; 353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 3.41%), 4.08%, 3/20/2051 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group plc (Ireland) (SOFR + 1.62%), 5.60%, 3/20/2030 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp; Barclays plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 11/24/2032 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA (France) | &nbsp;&nbsp;&nbsp; BNP Paribas SA (France) | &nbsp;&nbsp;&nbsp; BNP Paribas SA (France) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.62%), 5.79%, 1/13/2033 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 3.13%, 1/20/2033 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp; BPCE SA (France) (SOFR + 1.31%), 2.28%, 1/20/2032 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (SOFR + 3.91%), 4.41%, 3/31/2031 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 898 | &nbsp;&nbsp;&nbsp;&nbsp; 888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA (Netherlands) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.73%), 1.98%, <br> 12/15/2027 (f) (g)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA (France) (SOFR + 1.43%), 5.26%, 1/12/2037 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA (Norway) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.68%), 1.61%, 3/30/2028 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp (SOFRINDX + 2.13%), 4.77%, 7/28/2030 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 406 | &nbsp;&nbsp;&nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc (United Kingdom) (SOFR + 1.29%), 5.29%, 11/19/2030 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 310 | &nbsp;&nbsp;&nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. (SOFR + 1.28%), 5.27%, 1/15/2031 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp;&nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp; KBC Group NV (Belgium) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 4.45%, 9/23/2031 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp; KeyCorp (SOFRINDX + 2.42%), 6.40%, 3/6/2035 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp; M&T Bank Corp. (SOFR + 1.40%), 5.18%, 7/8/2031 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.64%, <br> 6/14/2027 (g)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The) (SOFR + 1.93%), 5.07%, 1/24/2034 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada (Canada) (SOFR + 0.98%), 4.31%, 11/3/2031 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA (France) | &nbsp;&nbsp;&nbsp; Societe Generale SA (France) | &nbsp;&nbsp;&nbsp; Societe Generale SA (France) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 6.10%, 4/13/2033 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.95%), 6.69%, 1/10/2034 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) (Canada) 4.41%, 1/13/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp.  | &nbsp;&nbsp;&nbsp; Truist Financial Corp.  | &nbsp;&nbsp;&nbsp; Truist Financial Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.05%), 6.05%, 6/8/2027 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.45%), 7.16%, 10/30/2029 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.40%), 4.96%, 10/23/2036 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA (Italy) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 3.13%, 6/3/2032 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 217 | &nbsp;&nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp; US Bancorp  | &nbsp;&nbsp;&nbsp; US Bancorp  | &nbsp;&nbsp;&nbsp; US Bancorp  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 5.38%, 1/23/2030 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.86%), 5.68%, 1/23/2035 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 33 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Banks — continued** | **Banks — continued** | **Banks — continued** |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co.  | &nbsp;&nbsp;&nbsp; Wells Fargo & Co.  | &nbsp;&nbsp;&nbsp; Wells Fargo & Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.51%), 3.53%, 3/24/2028 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.57%, 7/25/2029 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), 4.90%, 7/25/2033 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 423 | &nbsp;&nbsp;&nbsp;&nbsp; 421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.02%), 5.39%, 4/24/2034 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.61%, 4/23/2036 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp; 330 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8163 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp; Constellation Brands, Inc. 2.88%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp; Maple Parent Holdings Corp. 5.70%, 3/26/2036 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp; Molson Coors Beverage Co. 4.20%, 7/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp; 111 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 396 |
| **Biotechnology — 0.1%** | **Biotechnology — 0.1%** | **Biotechnology — 0.1%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. 4.75%, 3/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 102 | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. 4.85%, 2/19/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp; 113 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 213 |
| **Broadline Retail — 0.0% ^** | **Broadline Retail — 0.0% ^** | **Broadline Retail — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc. 5.80%, 3/13/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 140 | &nbsp;&nbsp;&nbsp;&nbsp; 140 |
| **Capital Markets — 0.5%** | **Capital Markets — 0.5%** | **Capital Markets — 0.5%** |
| &nbsp;&nbsp;&nbsp; Brookfield Finance, Inc. (Canada) 4.85%, 3/29/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Germany) | &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Germany) | &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Germany) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 2.55%, 1/7/2028 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.72%), 3.04%, 5/28/2032 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.02%, 10/23/2035 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 615 | &nbsp;&nbsp;&nbsp;&nbsp; 604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.19%), 5.07%, 1/21/2037 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.51%), 3.21%, 4/22/2042 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 140 | &nbsp;&nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; Macquarie Group Ltd. (Australia) (SOFR + 1.44%), 2.69%, 6/23/2032 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley  | &nbsp;&nbsp;&nbsp; Morgan Stanley  | &nbsp;&nbsp;&nbsp; Morgan Stanley  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.10%), 4.65%, 10/18/2030 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 271 | &nbsp;&nbsp;&nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.59%, 1/18/2036 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 3.22%, 4/22/2042 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; Nasdaq, Inc. 5.55%, 2/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp; UBS Group AG (Switzerland) | &nbsp;&nbsp;&nbsp; UBS Group AG (Switzerland) | &nbsp;&nbsp;&nbsp; UBS Group AG (Switzerland) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.05%), 4.59%, 8/10/2032 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 5.20%, 8/10/2037 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 195 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2537 |
| **Chemicals — 0.0% ^** | **Chemicals — 0.0% ^** | **Chemicals — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; EIDP, Inc. 4.50%, 5/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp; RPM International, Inc. 2.95%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 13 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 77 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Construction & Engineering — 0.0% ^** | **Construction & Engineering — 0.0% ^** | **Construction & Engineering — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc.  | &nbsp;&nbsp;&nbsp; Quanta Services, Inc.  | &nbsp;&nbsp;&nbsp; Quanta Services, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp; 46 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 93 |
| **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC (Ireland) 2.45%, 10/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp; 445 |
| &nbsp;&nbsp;&nbsp; American Express Co.  | &nbsp;&nbsp;&nbsp; American Express Co.  | &nbsp;&nbsp;&nbsp; American Express Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.93%), 5.04%, 7/26/2028 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.28%, 7/26/2035 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd. (Ireland) | &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd. (Ireland) | &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd. (Ireland) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 4/15/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 4/1/2033 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 166 | &nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. 3.80%, 1/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 336 | &nbsp;&nbsp;&nbsp;&nbsp; 332 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial (SOFRINDX + 2.13%), 5.94%, 8/2/2030 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp. Series B, 4.60%, 3/11/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp; 118 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1638 |
| **Consumer Staples Distribution & Retail — 0.0% ^** | **Consumer Staples Distribution & Retail — 0.0% ^** | **Consumer Staples Distribution & Retail — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Kroger Co. (The)  | &nbsp;&nbsp;&nbsp; Kroger Co. (The)  | &nbsp;&nbsp;&nbsp; Kroger Co. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 9/15/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 93 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 111 |
| **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** |
| &nbsp;&nbsp;&nbsp; Amcor Flexibles North America, Inc. 5.13%, 3/12/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp; Sonoco Products Co. 5.00%, 9/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp; WRKCo, Inc. 3.90%, 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 209 | &nbsp;&nbsp;&nbsp;&nbsp; 207 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 588 |
| **Diversified REITs — 0.1%** | **Diversified REITs — 0.1%** | **Diversified REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; Safehold GL Holdings LLC 2.85%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp; WP Carey, Inc. 2.25%, 4/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 443 | &nbsp;&nbsp;&nbsp;&nbsp; 368 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 478 |
| **Diversified Telecommunication Services — 0.2%** | **Diversified Telecommunication Services — 0.2%** | **Diversified Telecommunication Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. 3.65%, 9/15/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 344 | &nbsp;&nbsp;&nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp; Comcast Corp.  | &nbsp;&nbsp;&nbsp; Comcast Corp.  | &nbsp;&nbsp;&nbsp; Comcast Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 467 | &nbsp;&nbsp;&nbsp;&nbsp; 437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 2/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc.  | &nbsp;&nbsp;&nbsp; Verizon Communications, Inc.  | &nbsp;&nbsp;&nbsp; Verizon Communications, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 7/2/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 2/23/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 27 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 868 |
| **Electric Utilities — 0.8%** | **Electric Utilities — 0.8%** | **Electric Utilities — 0.8%** |
| &nbsp;&nbsp;&nbsp; Appalachian Power Co. Series AA, 2.70%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. 3.75%, 9/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 443 | &nbsp;&nbsp;&nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp; Duke Energy Indiana LLC 5.40%, 4/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 9 |
| &nbsp;&nbsp;&nbsp; Duquesne Light Holdings, Inc. 2.78%, 1/7/2032 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 413 | &nbsp;&nbsp;&nbsp;&nbsp; 364 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Electric Utilities — continued** | **Electric Utilities — continued** | **Electric Utilities — continued** |
| &nbsp;&nbsp;&nbsp; Entergy Arkansas LLC 4.95%, 1/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp; Eversource Energy 2.90%, 3/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp; Fells Point Funding Trust 3.05%, 1/31/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp; Interstate Power and Light Co. 4.95%, 9/30/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp; ITC Holdings Corp. 4.95%, 9/22/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp; Jersey Central Power & Light Co. 2.75%, 3/1/2032 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 269 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.  | &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.  | &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 3/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 140 | &nbsp;&nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp; Niagara Mohawk Power Corp. 5.11%, 1/12/2036 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. 2.45%, 12/2/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp; Oncor Electric Delivery Co. LLC 5.35%, 4/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co. 4.95%, 7/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 438 | &nbsp;&nbsp;&nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp; PG&E Recovery Funding LLC Series A-3, 5.54%, 7/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp; SCE Recovery Funding LLC 5.34%, 3/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. Series C, 4.13%, 3/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 443 | &nbsp;&nbsp;&nbsp;&nbsp; 332 |
| &nbsp;&nbsp;&nbsp; Virginia Electric and Power Co. 5.65%, 3/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 219 | &nbsp;&nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp; Virginia Power Fuel Securitization LLC Series A-2, 4.88%, 5/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC  | &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC  | &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/15/2034 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/30/2034 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 27 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3988 |
| **Electronic Equipment, Instruments & Components — 0.0% ^** | **Electronic Equipment, Instruments & Components — 0.0% ^** | **Electronic Equipment, Instruments & Components — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Amphenol Corp. 5.30%, 11/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp; 113 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.  | &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.  | &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 4/14/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/14/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 263 | &nbsp;&nbsp;&nbsp;&nbsp; 251 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 287 |
| **Financial Services — 0.2%** | **Financial Services — 0.2%** | **Financial Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Corebridge Financial, Inc. 4.40%, 4/5/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc. 5.35%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp;&nbsp; 311 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. 2.90%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp; Nationwide Building Society (United Kingdom) (SOFR + 1.65%), 5.54%, 7/14/2036 (f) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 866 |
| **Food Products — 0.2%** | **Food Products — 0.2%** | **Food Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; Bunge Ltd. Finance Corp. 3.75%, 9/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; 228 |
| &nbsp;&nbsp;&nbsp; Conagra Brands, Inc. 5.40%, 11/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp; General Mills, Inc. 4.88%, 1/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp; J M Smucker Co. (The) 6.50%, 11/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp; JBS NV 5.50%, 1/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co. 5.00%, 7/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp; 142 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 853 |
| **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Co. (Canada) 4.30%, 5/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp; 262 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Ground Transportation — continued** | **Ground Transportation — continued** | **Ground Transportation — continued** |
| &nbsp;&nbsp;&nbsp; Penske Truck Leasing Co. LP  | &nbsp;&nbsp;&nbsp; Penske Truck Leasing Co. LP  | &nbsp;&nbsp;&nbsp; Penske Truck Leasing Co. LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/24/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 7/1/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.  | &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.  | &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 9/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 9/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; 64 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 621 |
| **Health Care Equipment & Supplies — 0.1%** | **Health Care Equipment & Supplies — 0.1%** | **Health Care Equipment & Supplies — 0.1%** |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. 2.65%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp; Solventum Corp. 5.60%, 3/23/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. 5.50%, 2/19/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp;&nbsp;&nbsp; 123 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 438 |
| **Health Care Providers & Services — 0.2%** | **Health Care Providers & Services — 0.2%** | **Health Care Providers & Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Cencora, Inc.  | &nbsp;&nbsp;&nbsp; Cencora, Inc.  | &nbsp;&nbsp;&nbsp; Cencora, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 2/13/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 2/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp; Cigna Group (The)  | &nbsp;&nbsp;&nbsp; Cigna Group (The)  | &nbsp;&nbsp;&nbsp; Cigna Group (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 3/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp; HCA, Inc.  | &nbsp;&nbsp;&nbsp; HCA, Inc.  | &nbsp;&nbsp;&nbsp; HCA, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp; Humana, Inc. 3.95%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. 2.95%, 6/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 265 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 808 |
| **Health Care REITs — 0.1%** | **Health Care REITs — 0.1%** | **Health Care REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. 5.15%, 4/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 266 | &nbsp;&nbsp;&nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; DOC DR LLC 2.63%, 11/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp; Healthpeak OP LLC 2.13%, 12/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp; Ventas Realty LP 3.25%, 10/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp; 119 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 429 |
| **Hotels, Restaurants & Leisure — 0.0% ^** | **Hotels, Restaurants & Leisure — 0.0% ^** | **Hotels, Restaurants & Leisure — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. 3.25%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 204 | &nbsp;&nbsp;&nbsp;&nbsp; 193 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC 6.50%, 10/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 219 | &nbsp;&nbsp;&nbsp;&nbsp; 232 |
| **Insurance — 0.2%** | **Insurance — 0.2%** | **Insurance — 0.2%** |
| &nbsp;&nbsp;&nbsp; Aon North America, Inc. 5.75%, 3/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp; Athene Global Funding 2.72%, 1/7/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 219 | &nbsp;&nbsp;&nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp; CNO Global Funding 2.65%, 1/6/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp; 388 |
| &nbsp;&nbsp;&nbsp; F&G Global Funding 2.30%, 4/11/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp; Manulife Financial Corp. (Canada) (USD ICE Swap Rate 5 Year + 1.65%), 4.06%, 2/24/2032 (g) | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp;&nbsp;&nbsp; 169 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1004 |
| **Interactive Media & Services — 0.0% ^** | **Interactive Media & Services — 0.0% ^** | **Interactive Media & Services — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. 5.65%, 2/15/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp; 65 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Interactive Media & Services — continued** | **Interactive Media & Services — continued** | **Interactive Media & Services — continued** |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc.  | &nbsp;&nbsp;&nbsp; Meta Platforms, Inc.  | &nbsp;&nbsp;&nbsp; Meta Platforms, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 8/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 36 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 165 |
| **Life Sciences Tools & Services — 0.0% ^** | **Life Sciences Tools & Services — 0.0% ^** | **Life Sciences Tools & Services — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc.  | &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc.  | &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 6/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 2/12/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 20 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 92 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC  | &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC  | &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 3/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 482 | &nbsp;&nbsp;&nbsp;&nbsp; 356 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 436 |
| **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC (Australia) 2.63%, 9/23/2031 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 369 | &nbsp;&nbsp;&nbsp;&nbsp; 329 |
| **Multi-Utilities — 0.2%** | **Multi-Utilities — 0.2%** | **Multi-Utilities — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ameren Corp. 5.00%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 204 | &nbsp;&nbsp;&nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. 5.20%, 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; NiSource, Inc. 4.38%, 5/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 246 | &nbsp;&nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp; PG&E Energy Recovery Funding LLC Series A-3, 2.82%, 7/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp; Puget Energy, Inc. 2.38%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp; 134 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 720 |
| **Office REITs — 0.1%** | **Office REITs — 0.1%** | **Office REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; COPT Defense Properties LP 2.00%, 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 199 | &nbsp;&nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp; Kilroy Realty LP 2.65%, 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp; 106 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 292 |
| **Oil, Gas & Consumable Fuels — 0.5%** | **Oil, Gas & Consumable Fuels — 0.5%** | **Oil, Gas & Consumable Fuels — 0.5%** |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP 5.55%, 10/30/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. 5.65%, 4/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Holding Co. LLC 5.10%, 10/1/2031 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Operating Co. LLC 5.44%, 2/15/2035 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips Co. 5.50%, 1/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. 5.75%, 9/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. (Canada) 6.70%, 11/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 246 | &nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP 4.15%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 271 | &nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC 5.55%, 2/16/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 255 | &nbsp;&nbsp;&nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp; MPLX LP 2.65%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp; NGPL PipeCo LLC 3.25%, 7/15/2031 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 225 | &nbsp;&nbsp;&nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc.  | &nbsp;&nbsp;&nbsp; ONEOK, Inc.  | &nbsp;&nbsp;&nbsp; ONEOK, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 11/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp; Plains All American Pipeline LP 3.55%, 12/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 274 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; Shell Finance US, Inc. 4.75%, 1/6/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp; Targa Resources Partners LP 4.00%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP 5.25%, 2/1/2050 (h) | &nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp; 123 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2349 |
| **Personal Care Products — 0.0% ^** | **Personal Care Products — 0.0% ^** | **Personal Care Products — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Kenvue, Inc. 5.20%, 3/22/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 11 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. 3.70%, 3/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp; Novartis Capital Corp. 5.70%, 3/18/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 25 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 257 |
| **Residential REITs — 0.1%** | **Residential REITs — 0.1%** | **Residential REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; Essex Portfolio LP 5.50%, 4/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 241 | &nbsp;&nbsp;&nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp; UDR, Inc. 3.20%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; 219 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 463 |
| **Retail REITs — 0.2%** | **Retail REITs — 0.2%** | **Retail REITs — 0.2%** |
| &nbsp;&nbsp;&nbsp; Brixmor Operating Partnership LP 4.13%, 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp; NNN REIT, Inc. 4.60%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp. 3.25%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp; Regency Centers LP 3.60%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 281 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 924 |
| **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. 3.19%, 11/15/2036 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. 5.45%, 7/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 171 | &nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; NXP BV (Netherlands) 2.50%, 5/11/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp;&nbsp;&nbsp; 210 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 651 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| &nbsp;&nbsp;&nbsp; Oracle Corp.  | &nbsp;&nbsp;&nbsp; Oracle Corp.  | &nbsp;&nbsp;&nbsp; Oracle Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 9/26/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp;&nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 2/6/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 4/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 2/4/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp; Synopsys, Inc. 5.15%, 4/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 34 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 513 |
| **Specialized REITs — 0.1%** | **Specialized REITs — 0.1%** | **Specialized REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; American Tower Corp. 2.90%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage LP  | &nbsp;&nbsp;&nbsp; Extra Space Storage LP  | &nbsp;&nbsp;&nbsp; Extra Space Storage LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 77 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 516 |
| **Specialty Retail — 0.1%** | **Specialty Retail — 0.1%** | **Specialty Retail — 0.1%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc. 1.65%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; 200 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Specialty Retail — continued** | **Specialty Retail — continued** | **Specialty Retail — continued** |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. 3.75%, 4/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp;&nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc. 1.75%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 247 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 668 |
| **Technology Hardware, Storage & Peripherals — 0.0% ^** | **Technology Hardware, Storage & Peripherals — 0.0% ^** | **Technology Hardware, Storage & Peripherals — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Dell International LLC  | &nbsp;&nbsp;&nbsp; Dell International LLC  | &nbsp;&nbsp;&nbsp; Dell International LLC  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. 5.00%, 10/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 39 |
| **Tobacco — 0.0% ^** | **Tobacco — 0.0% ^** | **Tobacco — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. (United Kingdom) 5.35%, 8/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| **Trading Companies & Distributors — 0.0% ^** | **Trading Companies & Distributors — 0.0% ^** | **Trading Companies & Distributors — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Aviation Capital Group LLC 5.13%, 4/10/2030 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 55 |
| **Water Utilities — 0.1%** | **Water Utilities — 0.1%** | **Water Utilities — 0.1%** |
| &nbsp;&nbsp;&nbsp; American Water Capital Corp. 5.15%, 3/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 344 | &nbsp;&nbsp;&nbsp;&nbsp; 350 |
| **Wireless Telecommunication Services — 0.1%** | **Wireless Telecommunication Services — 0.1%** | **Wireless Telecommunication Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. 3.88%, 4/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 357 | &nbsp;&nbsp;&nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp; Vodafone Group plc (United Kingdom) 5.63%, 2/10/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 264 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $36,573)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 35517 |
| **Mortgage-Backed Securities — 5.5%** | **Mortgage-Backed Securities — 5.5%** | **Mortgage-Backed Securities — 5.5%** |
| &nbsp;&nbsp;&nbsp; FHLMC Gold Pools, Other Pool # WN1157, 1.80%, 11/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 943 |
| &nbsp;&nbsp;&nbsp; FHLMC UMBS, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QA7633, 3.00%, 3/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA5276, 2.50%, 5/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 518 | &nbsp;&nbsp;&nbsp;&nbsp; 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QC3244, 3.00%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QC7410, 2.50%, 9/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 378 | &nbsp;&nbsp;&nbsp;&nbsp; 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA5906, 2.50%, 9/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 363 | &nbsp;&nbsp;&nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD0809, 3.00%, 1/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA6702, 3.00%, 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 438 | &nbsp;&nbsp;&nbsp;&nbsp; 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD4119, 3.00%, 8/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 632 | &nbsp;&nbsp;&nbsp;&nbsp; 563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA7937, 5.00%, 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 445 | &nbsp;&nbsp;&nbsp;&nbsp; 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RJ2914, 5.50%, 11/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 434 | &nbsp;&nbsp;&nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA6079, 2.50%, 6/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 476 | &nbsp;&nbsp;&nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS6514, 2.50%, 9/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp; 353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB1874, 3.00%, 10/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 426 | &nbsp;&nbsp;&nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB1878, 3.00%, 10/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB2066, 3.00%, 11/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 431 | &nbsp;&nbsp;&nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB2094, 3.00%, 11/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1034 | &nbsp;&nbsp;&nbsp;&nbsp; 917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BU1805, 2.50%, 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 435 | &nbsp;&nbsp;&nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB2637, 2.50%, 1/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 312 | &nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS0882, 2.50%, 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 572 | &nbsp;&nbsp;&nbsp;&nbsp; 492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB3629, 4.00%, 5/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 551 | &nbsp;&nbsp;&nbsp;&nbsp; 521 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BY4714, 5.00%, 6/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 959 | &nbsp;&nbsp;&nbsp;&nbsp; 949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # DB1954, 5.00%, 11/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 483 | &nbsp;&nbsp;&nbsp;&nbsp; 476 |
| &nbsp;&nbsp;&nbsp; FNMA, Other  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS8224, 4.10%, 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp; 550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BL0907, 3.88%, 12/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 598 | &nbsp;&nbsp;&nbsp;&nbsp; 594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS8252, 4.36%, 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 486 | &nbsp;&nbsp;&nbsp;&nbsp; 489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS8846, 4.09%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS3634, 1.77%, 11/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS4525, 1.94%, 1/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS4030, 1.96%, 1/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 978 | &nbsp;&nbsp;&nbsp;&nbsp; 866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS4563, 2.01%, 1/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BZ2889, 4.37%, 1/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 492 | &nbsp;&nbsp;&nbsp;&nbsp; 493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM7037, 1.76%, 3/1/2032 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 844 | &nbsp;&nbsp;&nbsp;&nbsp; 735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS5117, 2.58%, 3/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 399 | &nbsp;&nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS5193, 2.62%, 4/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BZ3977, 4.42%, 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BZ4488, 4.42%, 8/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp; 514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BZ4871, 4.23%, 10/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 255 | &nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS2933, 1.82%, 9/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS4793, 2.44%, 2/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 554 | &nbsp;&nbsp;&nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BS7097, 4.67%, 11/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp;&nbsp; 1107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BF0669, 4.00%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM6734, 4.00%, 8/1/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 1477 | &nbsp;&nbsp;&nbsp;&nbsp; 1391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM7075, 3.00%, 3/1/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 462 | &nbsp;&nbsp;&nbsp;&nbsp; 399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BF0546, 2.50%, 7/1/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BF0617, 2.50%, 3/1/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BF0655, 3.50%, 6/1/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 528 | &nbsp;&nbsp;&nbsp;&nbsp; 476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BF0736, 4.00%, 6/1/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp;&nbsp; 377 |
| &nbsp;&nbsp;&nbsp; GNMA II, 30 Year Pool # MA8148, 3.00%, 7/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2853 | &nbsp;&nbsp;&nbsp;&nbsp; 2552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Mortgage-Backed Securities <br>(Cost $26,841)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 26440 |
|  | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Exchange-Traded Funds — 5.1%** | **Exchange-Traded Funds — 5.1%** | **Exchange-Traded Funds — 5.1%** |
| **International Equity — 1.6%** | **International Equity — 1.6%** | **International Equity — 1.6%** |
| &nbsp;&nbsp;&nbsp; JPMorgan BetaBuilders Japan ETF (c) | &nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp; 7493 |
| **U.S. Equity — 3.5%** | **U.S. Equity — 3.5%** | **U.S. Equity — 3.5%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Active Growth ETF (c) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 8449 |
| &nbsp;&nbsp;&nbsp; JPMorgan Active Value ETF (c) | &nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp; 8438 |
| &nbsp;&nbsp;&nbsp; Total U.S. Equity |  | &nbsp;&nbsp;&nbsp;&nbsp; 16887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Exchange-Traded Funds <br>(Cost $24,065)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 24380 |
|  | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Asset-Backed Securities — 1.8%** | **Asset-Backed Securities — 1.8%** | **Asset-Backed Securities — 1.8%** |
| &nbsp;&nbsp;&nbsp; Ally Auto Receivables Trust Series 2023-1, Class A3, 5.46%, 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 48 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; American Airlines Pass-Through Trust Series 2021-1, Class B, 3.95%, 7/11/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 206 | &nbsp;&nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp; American Credit Acceptance Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class D, 5.86%, 5/13/2030 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-1, Class D, 5.10%, 1/12/2033 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp; AmeriCredit Automobile Receivables Trust Series 2024-1, Class B, 5.38%, 6/18/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A, 5.13%, 10/20/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, 5.36%, 6/20/2030 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp; BMW Vehicle Owner Trust Series 2023-A, Class A3, 5.47%, 2/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp; Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class C, 5.65%, 4/16/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class C, 5.17%, 3/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class C, 4.81%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-1, Class C, 4.44%, 11/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp; Business Jet Securities LLC Series 2024-2A, Class A, 5.36%, 9/15/2039 ‡ (f) | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp; Carmax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class A3, 4.48%, 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class A3, 4.35%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4, Class A3, 6.00%, 7/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class A3, 4.92%, 10/16/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp; Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-P3, Class A3, 4.61%, 11/10/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-P4, Class A4, 1.64%, 12/10/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-P3, Class A3, 4.04%, 11/11/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp; CoreVest American Finance Trust Series 2022-1, Class A, 4.74%, 6/17/2055 (f) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; CPS Auto Receivables Trust Series 2023-A, Class C, 5.54%, 4/16/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class B, 7.02%, 5/16/2033 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A, 5.95%, 6/15/2034 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 5.02%, 3/15/2035 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 4.50%, 11/15/2035 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class B, 5.31%, 1/16/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class C, 4.39%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class C, 4.99%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A, Class D, 1.99%, 9/15/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class C, 5.55%, 10/16/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp; Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A, Class D, 4.56%, 7/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class D, 6.69%, 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class C, 5.70%, 7/16/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class C, 5.41%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 102 | &nbsp;&nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-2A, Class B, 4.66%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4A, Class C, 4.57%, 6/16/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class C, 5.09%, 10/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5A, Class C, 4.68%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 45 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-1A, Class C, 4.40%, 5/17/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; FHF Trust Series 2023-1A, Class A2, 6.57%, 6/15/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 11 |
| &nbsp;&nbsp;&nbsp; FirstKey Homes Trust Series 2022-SFR1, Class A, 4.15%, 5/19/2039 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp; Ford Credit Auto Owner Trust Series 2023-A, Class A3, 4.65%, 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp; GLS Auto Receivables Issuer Trust Series 2025-4A, Class C, 4.74%, 8/15/2031 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; GLS Auto Select Receivables Trust Series 2025-1A, Class A2, 4.71%, 4/15/2030 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; GM Financial Automobile Leasing Trust Series 2024-2, Class A3, 5.39%, 7/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp; GM Financial Consumer Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3, Class A3, 5.45%, 6/16/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class A3, 4.85%, 12/18/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp; Hertz Vehicle Financing LLC Series 2025-3A, Class A, 5.06%, 12/26/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Trust Series 2022-1D, Class A, 3.61%, 6/20/2034 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp; Honda Auto Receivables Owner Trust Series 2023-1, Class A3, 5.04%, 4/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp; Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-B, Class A3, 5.48%, 4/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class A3, 4.32%, 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp; Kubota Credit Owner Trust Series 2023-1A, Class A3, 5.02%, 6/15/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp; Lendmark Funding Trust Series 2025-1A, Class A, 4.94%, 9/20/2034 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Auto Receivables Trust Series 2023-1, Class A3, 4.51%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp; MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class A, 1.43%, 5/20/2039 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, 5.32%, 2/20/2043 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp; Nissan Auto Lease Trust Series 2025-A, Class A3, 4.75%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 198 | &nbsp;&nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp; OneMain Direct Auto Receivables Trust Series 2023-1A, Class A, 5.41%, 11/14/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp; OneMain Financial Issuance Trust Series 2020-2A, Class B, 2.21%, 9/14/2035 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR8, Class E1, 2.38%, 10/17/2038 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR3, Class A, 3.20%, 4/17/2039 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 289 | &nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-SFR1, Class A, 4.30%, 3/17/2040 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 179 | &nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR1, Class A, 3.40%, 2/17/2042 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR2, Class A, 3.31%, 4/17/2042 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 249 | &nbsp;&nbsp;&nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp; Reach ABS Trust Series 2026-1A, Class C, 4.80%, 2/15/2033 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4, Class B, 5.77%, 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5, Class B, 6.16%, 12/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp;&nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class C, 5.84%, 6/17/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class C, 5.64%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class C, 5.04%, 3/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class C, 4.68%, 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class C, 4.52%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-1, Class C, 4.26%, 4/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; SFS Auto Receivables Securitization Trust Series 2024-1A, Class A3, 4.95%, 5/21/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp; Sierra Timeshare Receivables Funding LLC Series 2022-2A, Class A, 4.73%, 6/20/2040 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp; SpringCastle America Funding LLC Series 2020-AA, Class A, 1.97%, 9/25/2037 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp; Stream Innovations Issuer Trust Series 2025-1A, Class A, 5.05%, 9/15/2045 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Trust Series 2005-SC1, Class 1A1, 4.33%, 5/25/2031 (f) (i) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Tesla Auto Lease Trust Series 2024-A, Class A3, 5.30%, 6/21/2027 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 19 |
| &nbsp;&nbsp;&nbsp; Toyota Auto Loan Extended Note Trust Series 2023-1A, Class A, 4.93%, 6/25/2036 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp; 116 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust Series 2016-2, Class AA, 2.88%, 10/7/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp; Veros Auto Receivables Trust Series 2026-1, Class B, 4.84%, 5/15/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp; Western Funding Auto Loan Trust Series 2025-1, Class C, 5.34%, 11/15/2035 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp; Westgate Resorts LLC Series 2024-1A, Class B, 6.56%, 1/20/2038 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp; World Omni Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A, Class A3, 4.83%, 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-D, Class A3, 5.79%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; World Omni Automobile Lease Securitization Trust Series 2025-A, Class A3, 4.42%, 4/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $8,651)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 8685 |
| **Commercial Mortgage-Backed Securities — 0.8%** | **Commercial Mortgage-Backed Securities — 0.8%** | **Commercial Mortgage-Backed Securities — 0.8%** |
| &nbsp;&nbsp;&nbsp; FHLMC, Multi-Family Structured Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K145, Class AM, 2.58%, 6/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp; 790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K-150, Class A2, 3.71%, 9/25/2032 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 879 | &nbsp;&nbsp;&nbsp;&nbsp; 844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KJ44, Class A2, 4.61%, 2/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K-1515, Class A2, 1.94%, 2/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp; 650 |
| &nbsp;&nbsp;&nbsp; FNMA ACES Series 2022-M1G, Class A2, 1.53%, 9/25/2031 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust Series 2021-PLZA, Class A, 2.57%, 11/9/2043 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 294 | &nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; SLG Office Trust Series 2021-OVA, Class A, 2.59%, 7/15/2041 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp;&nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Mortgage-Backed Securities <br>(Cost $3,872)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 3685 |
| **Collateralized Mortgage Obligations — 0.7%** | **Collateralized Mortgage Obligations — 0.7%** | **Collateralized Mortgage Obligations — 0.7%** |
| &nbsp;&nbsp;&nbsp; Banc of America Alternative Loan Trust Series 2006-5, Class 3A1, 6.00%, 6/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; CHL Mortgage Pass-Through Trust Series 2006-21, Class A14, 6.00%, 2/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; FHLMC Seasoned Credit Risk Transfer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-4, Class M60C, 3.50%, 6/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-4, Class MT, 3.50%, 6/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 311 | &nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class MTU, 3.25%, 11/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 303 | &nbsp;&nbsp;&nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp; FHLMC, REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3989, Class JW, 3.50%, 1/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 447 | &nbsp;&nbsp;&nbsp;&nbsp; 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4995, Class QE, 1.25%, 7/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 536 | &nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5190, Class EC, 2.00%, 12/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 485 | &nbsp;&nbsp;&nbsp;&nbsp; 433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5190, Class PH, 2.50%, 2/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 478 | &nbsp;&nbsp;&nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp; FNMA, REMIC Series 2015-34, Class AZ, 2.25%, 6/25/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 893 | &nbsp;&nbsp;&nbsp;&nbsp; 774 |
| &nbsp;&nbsp;&nbsp; GSR Mortgage Loan Trust Series 2004-8F, Class 2A3, 6.00%, 9/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; MASTR Alternative Loan Trust Series 2005-6, Class 1A2, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; PHH Mortgage Trust Series 2008-CIM2, Class 5A1, 6.00%, 7/25/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Collateralized Mortgage Obligations <br>(Cost $3,306)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 3262 |
| **Foreign Government Securities — 0.1%** | **Foreign Government Securities — 0.1%** | **Foreign Government Securities — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Colombia 3.25%, 4/22/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp; United Mexican States 3.77%, 5/24/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government Securities <br>(Cost $687)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 566 |
| **Loan Assignments — 0.0% ‡ (g) (j) (k) ^** | **Loan Assignments — 0.0% ‡ (g) (j) (k) ^** | **Loan Assignments — 0.0% ‡ (g) (j) (k) ^** |
| **Consumer Staples Distribution & Retail — 0.0% ^** | **Consumer Staples Distribution & Retail — 0.0% ^** | **Consumer Staples Distribution & Retail — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien PIK Term Loan (3-MONTH CME TERM SOFR + 9.35% (PIK) + 2.00%), 5.67%, 6/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 24 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **Consumer Staples Distribution & Retail — continued** | **Consumer Staples Distribution & Retail — continued** | **Consumer Staples Distribution & Retail — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Super Senior Delayed Draw Term Loan (3-MONTH CME TERM SOFR + 15.83% (PIK) + 11.50%), <br> 15.23%, 6/30/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 2nd Lien PIK Term Loan (3-MONTH CME TERM SOFR + 9.35% (PIK) + 2.00%), 5.67%, 6/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Loan Assignments <br>(Cost $159)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 27 |
|  | &nbsp;&nbsp;&nbsp; **NO. OF** <br> **RIGHTS** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Rights — 0.0%** | **Rights — 0.0%** | **Rights — 0.0%** |
| **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABIOMED, Inc., CVR ‡ \* <br>(Cost $—)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
|  | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Short-Term Investments — 1.5%** | **Short-Term Investments — 1.5%** | **Short-Term Investments — 1.5%** |
| **Investment Companies — 1.5%** | **Investment Companies — 1.5%** | **Investment Companies — 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class IM Shares, 3.75% (c) (l) <br>(Cost $7,093)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7092 | &nbsp;&nbsp;&nbsp;&nbsp; 7093 |
| **Total Investments — 98.8%** <br>**(Cost $414,834)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **473989** |
| **Other Assets in Excess of Liabilities — 1.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **5721** |
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **479710** |

---

&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 |
| CME | Chicago Mercantile Exchange |
| CVR | Contingent Value Rights |
| ETF | Exchange Traded Fund |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GDR | Global Depositary Receipt |
| GNMA | Government National Mortgage Association |
| ICE | Intercontinental Exchange |
| NYRS | New York Registry Shares |
| PIK | Payment In Kind |
| PJSC | Public Joint Stock Company |
| 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>|
| REIT | Real Estate Investment Trust |
| REMIC | Real Estate Mortgage Investment Conduit |
| SOFR | Secured Overnight Financing Rate |
| SOFRINDX | Compounding index of the Secured Overnight Financing Rate |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | |
|:---|:---|
| 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) | Value is zero. |
| (b) | 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>|
| (c) | 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>|
| (d) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. |
| (e) | The rate shown is the effective yield as of March 31, 2026.  |
| (f) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
| (g) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of March 31, 2026. |
| (h) | 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 March 31, 2026. <br>|
| (i) | 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 March 31, 2026. <br>|
| (j) | Loan assignments are presented by obligor. Each series or loan tranche underlying each obligor may have varying terms. |
| (k) | Security has the ability to pay in kind ("PIK") or pay income in cash. When applicable, separate rates of such payments are disclosed. |
| (l) | The rate shown is the current yield as of March 31, 2026. |

---

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

---

| | |
|:---|:---|
| **PORTFOLIO COMPOSITION BY COUNTRY** <br>**AS OF March 31, 2026**<br>| **PERCENT OF** <br>**TOTAL** <br>**INVESTMENTS**<br>|
| United States | 82.9<br> %<br>|
| France | 2.0 |
| Germany | 1.9 |
| Japan | 1.6 |
| United Kingdom | 1.6 |
| Netherlands | 1.3 |
| Others (each less than 1.0%) | 7.2 |
| Short-Term Investments | 1.5 |

---

Detailed information about investment portfolios of the Underlying Funds, as defined in the Notes to Financial Statements, and ETFs can be found in the financial statements filed with the Securities and Exchange Commission (SEC) by each such underlying fund semi-annually on

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

Form N-CSR and in portfolio holdings filed 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 March 31, 2026 (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** |  |  |  |  |  |
| Euro-BTP | &nbsp;&nbsp;&nbsp;&nbsp; 159 | &nbsp;&nbsp;&nbsp;&nbsp; 06/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 21370 | &nbsp;&nbsp;&nbsp;&nbsp; (669)<br>|
| TOPIX Index | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 06/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp;&nbsp; 9101 | &nbsp;&nbsp;&nbsp;&nbsp; (56)<br>|
| S&P 500 E-Mini Index | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 52552 | &nbsp;&nbsp;&nbsp;&nbsp; (938)<br>|
| S&P E-Mini Communication Services Index | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 4818 | &nbsp;&nbsp;&nbsp;&nbsp; (150)<br>|
| U.S. Treasury 10 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 11546 | &nbsp;&nbsp;&nbsp;&nbsp; (191)<br>|
| U.S. Treasury 10 Year Ultra Note | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 2723 | &nbsp;&nbsp;&nbsp;&nbsp; (50)<br>|
| U.S. Treasury Long Bond | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 795 | &nbsp;&nbsp;&nbsp;&nbsp; (27)<br>|
| XAF Financial Index | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 4904 | &nbsp;&nbsp;&nbsp;&nbsp; 15 |
| Xak Technology Equity Index | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 4858 | &nbsp;&nbsp;&nbsp;&nbsp; (235)<br>|
| EURO STOXX 50 Index | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 06/19/2026 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 517 | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| MSCI EAFE Index | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 06/19/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 9870 | &nbsp;&nbsp;&nbsp;&nbsp; (82)<br>|
| Long Gilt | &nbsp;&nbsp;&nbsp;&nbsp; 233 | &nbsp;&nbsp;&nbsp;&nbsp; 06/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 27074 | &nbsp;&nbsp;&nbsp;&nbsp; (1498)<br>|
| U.S. Treasury 2 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 06/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 8715 | &nbsp;&nbsp;&nbsp;&nbsp; (17)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (3905)<br>|
| **Short Contracts** |  |  |  |  |  |
| Euro-Bund | &nbsp;&nbsp;&nbsp;&nbsp; (193)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 06/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; (28043)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 422 |
| Australia 10 Year Bond | &nbsp;&nbsp;&nbsp;&nbsp; (98)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 06/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp;&nbsp; (7286)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 56 |
| Japan 10 Year Bond | &nbsp;&nbsp;&nbsp;&nbsp; (39)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 06/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp;&nbsp; (32054)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 340 |
| DJ US Real Estate Index | &nbsp;&nbsp;&nbsp;&nbsp; (133)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (4785)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 143 |
| Russell 2000 E-Mini Index | &nbsp;&nbsp;&nbsp;&nbsp; (114)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (14314)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (83)<br>|
| U.S. Treasury Ultra Bond | &nbsp;&nbsp;&nbsp;&nbsp; (91)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (10582)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 365 |
| XAP Consumer Staples Index | &nbsp;&nbsp;&nbsp;&nbsp; (112)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (9318)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 280 |
| MSCI Emerging Markets Index | &nbsp;&nbsp;&nbsp;&nbsp; (156)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 06/19/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (11340)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 51 |
| U.S. Treasury 5 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 06/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (974)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 17 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1591 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (2314)<br>|

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| AUD | Australian Dollar |
| EAFE | Europe, Australasia and Far East |
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| MSCI | Morgan Stanley Capital International |
| TOPIX | Tokyo Stock Price Index |
| USD | United States Dollar |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

**Forward foreign currency exchange contracts outstanding as of March 31, 2026 (amounts in thousands):**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CURRENCY** <br>**PURCHASED** | **CURRENCY** <br>**PURCHASED** | &nbsp;&nbsp;&nbsp; **CURRENCY** <br>**SOLD** | &nbsp;&nbsp;&nbsp; **CURRENCY** <br>**SOLD** | **COUNTERPARTY** | &nbsp;&nbsp;&nbsp; **SETTLEMENT** <br>**DATE**<br>| &nbsp;&nbsp; **UNREALIZED** <br>**APPRECIATION** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 10568 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 12128 | Citibank, NA | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 99 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 9903 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; 7776 | HSBC Bank, NA | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 156 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 9860 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 7434 | Citibank, NA | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 20 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4957 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; 46760 | Merrill Lynch International | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 2505 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1301 | HSBC Bank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 2578 | NZD | &nbsp;&nbsp;&nbsp;&nbsp; 3081 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 1287 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 881 | BNP Paribas | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 7 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 24297 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4602 | Goldman Sachs International<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 65 |
| CAD | &nbsp;&nbsp;&nbsp;&nbsp; 1229 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 667 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp; 19375 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 908 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1546 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 2570 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1593 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 2512 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 36 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1607 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1392 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 792 | PLN | &nbsp;&nbsp;&nbsp;&nbsp; 3400 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3233 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3719 | HSBC Bank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 23 |
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1383 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 2523 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 15 |
| HUF | &nbsp;&nbsp;&nbsp;&nbsp; 309812 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 905 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 25 |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 30694552 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1807 | Citibank, NA<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 48949 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 438 | BNP Paribas | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 240904 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 2152 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 37 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 172499 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 937 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 285623 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 18 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 143700 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 683 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 1626482 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 10245 | HSBC Bank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 30 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 234201 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1476 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 1370695 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 911 | Citibank, NA<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| NZD | &nbsp;&nbsp;&nbsp;&nbsp; 1663 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 1325 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| NZD | &nbsp;&nbsp;&nbsp;&nbsp; 1588 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 689 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp; 3451 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 928 | HSBC Bank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| TRY | &nbsp;&nbsp;&nbsp;&nbsp; 77976 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1693 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| TRY | &nbsp;&nbsp;&nbsp;&nbsp; 82607 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1789 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 7 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2641 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 3609 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 44 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 13961 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; 10934 | BNP Paribas | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 244 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 899 | CLP | &nbsp;&nbsp;&nbsp;&nbsp; 829121 | Citibank, NA<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 808 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 698 | HSBC Bank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4671 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; 79033547 | Goldman Sachs International<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 16 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 869 | ILS | &nbsp;&nbsp;&nbsp;&nbsp; 2730 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4615 | ILS | &nbsp;&nbsp;&nbsp;&nbsp; 14431 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 21 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1734 | ILS | &nbsp;&nbsp;&nbsp;&nbsp; 5407 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 981 | INR | &nbsp;&nbsp;&nbsp;&nbsp; 91932 | Citibank, NA<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 902 | INR | &nbsp;&nbsp;&nbsp;&nbsp; 83850 | Goldman Sachs International<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 899 | INR | &nbsp;&nbsp;&nbsp;&nbsp; 84290 | Standard Chartered Bank<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1785 | KRW | &nbsp;&nbsp;&nbsp;&nbsp; 2671567 | Citibank, NA<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 896 | MXN | &nbsp;&nbsp;&nbsp;&nbsp; 16011 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2713 | MXN | &nbsp;&nbsp;&nbsp;&nbsp; 48491 | HSBC Bank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 13 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 206 | NZD | &nbsp;&nbsp;&nbsp;&nbsp; 349 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 454 | PHP | &nbsp;&nbsp;&nbsp;&nbsp; 27174 | Goldman Sachs International<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1837 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; 17033 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 35 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 889 | THB | &nbsp;&nbsp;&nbsp;&nbsp; 29182 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 962 | THB | &nbsp;&nbsp;&nbsp;&nbsp; 31091 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 919 | TWD | &nbsp;&nbsp;&nbsp;&nbsp; 29405 | Citibank, NA<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 908 | TWD | &nbsp;&nbsp;&nbsp;&nbsp; 29049 | Goldman Sachs International<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 463 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 7773 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| DKK | &nbsp;&nbsp;&nbsp;&nbsp; 58 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 9 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 132 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 153 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 52 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 60 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 26 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 30 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| NOK | &nbsp;&nbsp;&nbsp;&nbsp; 1513 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 155 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CURRENCY**<br> **PURCHASED** | **CURRENCY**<br> **PURCHASED** | &nbsp;&nbsp;&nbsp; **CURRENCY**<br> **SOLD** | &nbsp;&nbsp;&nbsp; **CURRENCY**<br> **SOLD** | **COUNTERPARTY** | &nbsp;&nbsp;&nbsp; **SETTLEMENT**<br> **DATE**<br>| &nbsp;&nbsp; **UNREALIZED**<br> **APPRECIATION**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 43 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; 33 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 57 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; 358 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 56 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; 352 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 106 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 89 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 130 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 109 | BNP Paribas | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 967 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 816 | Citibank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 21 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 32 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 27 | Goldman Sachs International | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 413 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 350 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 9 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 536 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 456 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 39 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 33 | Standard Chartered Bank | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 298 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 220 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 81 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 60 | BNP Paribas | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 93 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 69 | Citibank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1365 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1011 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 26 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 271 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 199 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 9 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1139 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; 8881 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 61 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; 543 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 74 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; 661 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 874 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; 7846 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 45 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 86 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; 108 | Citibank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 163 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; 207 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 51 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; 65 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 4394 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 27 | HSBC Bank, NA | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 78 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 12267 | Barclays Bank plc | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 35 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 5296 | Goldman Sachs International | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 517 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 80447 | HSBC Bank, NA | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 9 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 117 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 17872 | Morgan Stanley | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | &nbsp;&nbsp;&nbsp;&nbsp; 1259 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 10611 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 7465 | HSBC Bank, NA | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (146)<br>|
| NZD | &nbsp;&nbsp;&nbsp;&nbsp; 25176 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 14668 | Citibank, NA | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (190)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 46597 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4960 | BNP Paribas | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (32)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 12200 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 10568 | Merrill Lynch International | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (27)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2099 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 333363 | Barclays Bank plc | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4074 | NOK | &nbsp;&nbsp;&nbsp;&nbsp; 39732 | Barclays Bank plc | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (29)<br>|
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 1287 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 140956 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 2661 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1877 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (42)<br>|
| CAD | &nbsp;&nbsp;&nbsp;&nbsp; 2496 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1564 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| CAD | &nbsp;&nbsp;&nbsp;&nbsp; 6231 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3898 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (27)<br>|
| CAD | &nbsp;&nbsp;&nbsp;&nbsp; 1227 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 667 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 714 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 782 | BNP Paribas | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 1401 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1531 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 834 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 916 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 2271 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 2186 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (45)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 588 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 117777 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| CNY | &nbsp;&nbsp;&nbsp;&nbsp; 32271 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4699 | BNP Paribas\*\* | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (16)<br>|
| COP | &nbsp;&nbsp;&nbsp;&nbsp; 2964883 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 805 | Citibank, NA\*\* | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| COP | &nbsp;&nbsp;&nbsp;&nbsp; 7051167 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1907 | Goldman Sachs International\*\* | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1598 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1857 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1341 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 284855 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (24)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 4223 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 5602 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 32888944 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1939 | Citibank, NA<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| INR | &nbsp;&nbsp;&nbsp;&nbsp; 260072 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 2800 | Goldman Sachs International\*\* | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (38)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 143468 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 910 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 6730447 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4516 | Goldman Sachs International\*\* | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (38)<br>|
| MXN | &nbsp;&nbsp;&nbsp;&nbsp; 32406 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1814 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| NZD | &nbsp;&nbsp;&nbsp;&nbsp; 1528 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 141657 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (16)<br>|
| NZD | &nbsp;&nbsp;&nbsp;&nbsp; 7859 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4589 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (69)<br>|
| NZD | &nbsp;&nbsp;&nbsp;&nbsp; 1721 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1005 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (15)<br>|
| PHP | &nbsp;&nbsp;&nbsp;&nbsp; 54230 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 906 | Citibank, NA\*\* | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CURRENCY**<br> **PURCHASED** | **CURRENCY**<br> **PURCHASED** | &nbsp;&nbsp;&nbsp; **CURRENCY**<br> **SOLD** | &nbsp;&nbsp;&nbsp; **CURRENCY**<br> **SOLD** | **COUNTERPARTY** | &nbsp;&nbsp;&nbsp; **SETTLEMENT**<br> **DATE**<br>| &nbsp;&nbsp; **UNREALIZED**<br> **APPRECIATION**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| PHP | &nbsp;&nbsp;&nbsp;&nbsp; 108939 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1807 | Goldman Sachs International<sup>\*\*</sup> <br>| 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 16740 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1546 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (18)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 17066 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1585 | BNP Paribas | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (29)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 8244 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 661 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 86352 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 9234 | BNP Paribas | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (99)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 24459 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 2614 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (27)<br>|
| SGD | &nbsp;&nbsp;&nbsp;&nbsp; 1158 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 907 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| SGD | &nbsp;&nbsp;&nbsp;&nbsp; 1175 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 919 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| THB | &nbsp;&nbsp;&nbsp;&nbsp; 118322 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3667 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (72)<br>|
| THB | &nbsp;&nbsp;&nbsp;&nbsp; 30601 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 931 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| TWD | &nbsp;&nbsp;&nbsp;&nbsp; 117240 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3657 | Citibank, NA\*\* | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1002 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; 5360 | Citibank, NA\*\* | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (28)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 909 | CZK | &nbsp;&nbsp;&nbsp;&nbsp; 19375 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 272 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 43283 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 304 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 48422 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 919 | PLN | &nbsp;&nbsp;&nbsp;&nbsp; 3425 | HSBC Bank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2740 | RON | &nbsp;&nbsp;&nbsp;&nbsp; 12193 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1287 | TRY | &nbsp;&nbsp;&nbsp;&nbsp; 59282 | Barclays Bank plc | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 932 | TWD | &nbsp;&nbsp;&nbsp;&nbsp; 29902 | Citibank, NA\*\* | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 22167 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1317 | BNP Paribas | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 15242 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 931 | Citibank, NA | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (32)<br>|
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 16327 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 967 | Goldman Sachs International | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 7631 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 465 | Morgan Stanley | 4/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (15)<br>|
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 2075 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1436 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| CAD | &nbsp;&nbsp;&nbsp;&nbsp; 2483 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1821 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (34)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 195 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 252 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 859 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1116 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (39)<br>|
| DKK | &nbsp;&nbsp;&nbsp;&nbsp; 352 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 56 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| DKK | &nbsp;&nbsp;&nbsp;&nbsp; 358 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 57 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 309 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 361 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 855 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1009 | Goldman Sachs International | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 223 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 260 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 373 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 447 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 6 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 8 | Royal Bank of Canada | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 18 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 24 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 5 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 6 | BNP Paribas | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 26 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 35 | Citibank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1295 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1769 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (54)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 11 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 15 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 25 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 34 | State Street Corp. | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| HKD | &nbsp;&nbsp;&nbsp;&nbsp; 73 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 9 | Citibank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| HKD | &nbsp;&nbsp;&nbsp;&nbsp; 1259 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 162 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| HKD | &nbsp;&nbsp;&nbsp;&nbsp; 873 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 112 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 886 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 98 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 203 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 22 | BNP Paribas | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 5274 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 575 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (18)<br>|
| SGD | &nbsp;&nbsp;&nbsp;&nbsp; 364 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 286 | HSBC Bank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| SGD | &nbsp;&nbsp;&nbsp;&nbsp; 17 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 14 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 9 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; 58 | Morgan Stanley | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3 | Barclays Bank plc | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 109 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 95 | Citibank, NA | 4/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 57342 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 371 | Barclays Bank plc | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 47659 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 313 | HSBC Bank, NA | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 194124 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1247 | Morgan Stanley | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (21)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 37 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 5799 | Barclays Bank plc | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 28 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 4375 | HSBC Bank, NA | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | &nbsp;&nbsp;&nbsp;&nbsp; (1511)<br>|
| Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | &nbsp;&nbsp;&nbsp;&nbsp; (252)<br>|

---

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

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

---

| | |
|:---|:---|
| **Abbreviations** |  |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chile Peso |
| CNY | China Yuan |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ILS | Israeli Shekel |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | Korean Republic Won |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PHP | Philippines Peso |
| PLN | Polish Zloty |
| RON | Romanian Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| TRY | Turkish Lira |
| TWD | Taiwan Dollar |
| USD | United States Dollar |
| ZAR | South African Rand |

---

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

(a) Amount rounds to less than one thousand.

\*\* Non-deliverable forward.

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

(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 "1940 Act"), the Board is required to determine fair value for securities that do not have readily available market quotations. Pursuant to Rule 2a-5 under the 1940 Act (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 Fund 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 Fund. 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 are 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 NAVs are calculated.

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

Futures contracts are generally valued on the basis of available market quotations. Forward foreign currency exchange contracts are valued utilizing market quotations from approved Pricing Services.

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).

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

(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:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &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;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $8588 | &nbsp;&nbsp;&nbsp;&nbsp; $97 | &nbsp;&nbsp;&nbsp;&nbsp; $8685 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3262 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3262 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3685 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3685 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp; 2422 | &nbsp;&nbsp;&nbsp;&nbsp; 3493 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5915 |
| &nbsp;&nbsp;&nbsp; Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp; 181 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp; 883 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 955 |
| &nbsp;&nbsp;&nbsp; Automobiles | &nbsp;&nbsp;&nbsp;&nbsp; 2003 | &nbsp;&nbsp;&nbsp;&nbsp; 1170 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3173 |
| &nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp;&nbsp; 7814 | &nbsp;&nbsp;&nbsp;&nbsp; 8422 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 16236 |
| &nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp;&nbsp; 1268 | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1783 |
| &nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp; 4162 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4162 |
| &nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp; 6372 | &nbsp;&nbsp;&nbsp;&nbsp; 1025 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7397 |
| &nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp;&nbsp; 2906 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2906 |
| &nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp; 5849 | &nbsp;&nbsp;&nbsp;&nbsp; 2616 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8465 |
| &nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp;&nbsp; 827 | &nbsp;&nbsp;&nbsp;&nbsp; 1945 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2772 |
| &nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp;&nbsp;&nbsp; 397 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 902 |
| &nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp; 508 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp; 1488 | &nbsp;&nbsp;&nbsp;&nbsp; 982 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2470 |
| &nbsp;&nbsp;&nbsp; Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp; 588 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 588 |
| &nbsp;&nbsp;&nbsp; Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp; 1989 | &nbsp;&nbsp;&nbsp;&nbsp; 372 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2361 |
| &nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp; 3206 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3206 |
| &nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp; 483 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 483 |
| &nbsp;&nbsp;&nbsp; Distributors | &nbsp;&nbsp;&nbsp;&nbsp; 159 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp; Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp; Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp; 686 | &nbsp;&nbsp;&nbsp;&nbsp; 1751 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2437 |
| &nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp; 3983 | &nbsp;&nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4313 |
| &nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp; 1358 | &nbsp;&nbsp;&nbsp;&nbsp; 1314 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2672 |
| &nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp; 2112 | &nbsp;&nbsp;&nbsp;&nbsp; 828 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2940 |
| &nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp; 1462 | &nbsp;&nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1624 |
| &nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp;&nbsp; 2910 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2910 |
| &nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp;&nbsp; 4997 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4997 |
| &nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp;&nbsp;&nbsp; 890 | &nbsp;&nbsp;&nbsp;&nbsp; 1040 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1930 |
| &nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp; 559 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 559 |
| &nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp; 3468 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3468 |
| &nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp; 2558 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2558 |
| &nbsp;&nbsp;&nbsp; Health Care REITs | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 300 |
| &nbsp;&nbsp;&nbsp; Health Care Technology | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Hotel & Resort REITs | &nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp; 5356 | &nbsp;&nbsp;&nbsp;&nbsp; 560 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5916 |
| &nbsp;&nbsp;&nbsp; Household Durables | &nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp; 1677 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1984 |
| &nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp;&nbsp;&nbsp; 164 | &nbsp;&nbsp;&nbsp;&nbsp; 173 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 337 |
| &nbsp;&nbsp;&nbsp; Independent Power and Renewable Electricity Producers | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 302 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 302 |

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

(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; Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp; $659 | &nbsp;&nbsp;&nbsp;&nbsp; $1018 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1677 |
| &nbsp;&nbsp;&nbsp; Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp; 443 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp;&nbsp; 2933 | &nbsp;&nbsp;&nbsp;&nbsp; 4187 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7120 |
| &nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp; 9329 | &nbsp;&nbsp;&nbsp;&nbsp; 1356 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10685 |
| &nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp;&nbsp; 1282 | &nbsp;&nbsp;&nbsp;&nbsp; 348 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1630 |
| &nbsp;&nbsp;&nbsp; Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp; 197 | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 600 |
| &nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp;&nbsp; 2147 | &nbsp;&nbsp;&nbsp;&nbsp; 2958 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5105 |
| &nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp;&nbsp; 233 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp; 214 | &nbsp;&nbsp;&nbsp;&nbsp; 2479 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2693 |
| &nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp; 1933 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2360 |
| &nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp; 4419 | &nbsp;&nbsp;&nbsp;&nbsp; 4118 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8537 |
| &nbsp;&nbsp;&nbsp; Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp; 4277 | &nbsp;&nbsp;&nbsp;&nbsp; 3799 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8076 |
| &nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp;&nbsp; 725 | &nbsp;&nbsp;&nbsp;&nbsp; 411 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1136 |
| &nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp; 596 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 596 |
| &nbsp;&nbsp;&nbsp; Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp; 355 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp; Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp; 19996 | &nbsp;&nbsp;&nbsp;&nbsp; 6691 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26687 |
| &nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp;&nbsp; 8418 | &nbsp;&nbsp;&nbsp;&nbsp; 366 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8784 |
| &nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp; 920 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 920 |
| &nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp; 4815 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4815 |
| &nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp; 7498 | &nbsp;&nbsp;&nbsp;&nbsp; 164 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7662 |
| &nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp; 245 | &nbsp;&nbsp;&nbsp;&nbsp; 1327 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1572 |
| &nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp;&nbsp; 499 | &nbsp;&nbsp;&nbsp;&nbsp; 722 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1221 |
| &nbsp;&nbsp;&nbsp; Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp; 1194 | &nbsp;&nbsp;&nbsp;&nbsp; 599 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1793 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 147390 | &nbsp;&nbsp;&nbsp;&nbsp; 62593 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 209983 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35517 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35517 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 24380 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24380 |
| Foreign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 566 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 566 |
| Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 99470 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 99470 |
| Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 27 |
| Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26440 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26440 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 54881 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 54881 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 7093 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7093 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $278333 | &nbsp;&nbsp;&nbsp;&nbsp; $195532 | &nbsp;&nbsp;&nbsp;&nbsp; $124 | &nbsp;&nbsp;&nbsp;&nbsp; $473989 |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1259 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1259 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; 1633 | &nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1689 |
| **Depreciation in Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(1511)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(1511)<br>|

---

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

(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** |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $(4003)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(4003)<br>|
| **Total Net Appreciation/ Depreciation in Other** <br>**Financial Instruments**<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(2370)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(196)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(2566)<br>|

---

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

(a) Value is zero.

(b) Amount rounds to less than one thousand.

**B. Investment Transactions with Affiliates**— The Fund invested in Underlying Funds and ETFs 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 be affiliated issuers. Underlying Funds' and ETFs' distributions may be reinvested into the Underlying Funds and ETFs. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended March 31, 2026** | **For the period ended March 31, 2026** | **For the period ended March 31, 2026** | **For the period ended March 31, 2026** | **For the period ended March 31, 2026** | **For the period ended March 31, 2026** | **For the period ended March 31, 2026** | **For the period ended March 31, 2026** | **For the period ended March 31, 2026** | **For the period ended March 31, 2026** |
| **Security Description** | **Value at** <br>**June 30,** <br>**2025** <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>**March 31,** <br>**2026**<br>| **Shares at** <br>**March 31,** <br>**2026**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| JPMorgan Active Growth ETF (a) | $— | $9457 | $— | $— | $(1008)<br>| $8449 | 100 | $11 | $— |
| JPMorgan Active Value ETF (a) |  | 8193 |  |  | 245 | 8438 | 117 | 53 |  |
| JPMorgan BetaBuilders Japan ETF (a) | 4838 | 2199 |  |  | 456 | 7493 | 109 | 327 |  |
| JPMorgan Core Bond Fund Class R6 Shares (a) | 27435 | 34735 | 12300 | (125)<br>| (317)<br>| 49428 | 4776 | 1050 |  |
| JPMorgan High Yield Fund Class R6 Shares (a) | 14032 | 3021 | 1902 | 25 | (170)<br>| 15006 | 2312 | 650 |  |
| JPMorgan Income Fund Class R6 Shares (a) | 25120 | 4820 | 4272 | 46 | (294)<br>| 25420 | 2987 | 1059 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Large Cap Value Fund Class R6 Shares <br> (a)<br>| 9659 | 1623 | 1866 | 87 | 113 | 9616 | 459 | 99 | 548 |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class IM <br> Shares, 3.75% (a) (b)<br>| 25253 | 123147 | 141311 | 5 | (1)<br>| 7093 | 7092 | 711 |  |
| **Total** | $106337 | $187195 | $161651 | $38 | $(976)<br>| $130943 |  | $3960 | $548 |

---

&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 March 31, 2026.

**C. Derivatives**— The Fund used derivative instruments including futures contracts and forward foreign currency contracts, in connection with its investment strategy. Derivative instruments may be used as substitutes for securities in which the Fund can invest, to hedge portfolio investments or to generate income or gain to the Fund. Derivatives may also be used to manage duration, sector and yield curve exposures and credit and spread volatility.

The Fund may be subject to various risks from the use of derivatives, including the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index; counterparty credit risk related to derivatives counterparties' failure to perform under contract terms; liquidity risk related to the potential lack of a liquid market for these contracts allowing a Fund to close out its position(s); and documentation risk relating to disagreement over contract terms. Investing in certain derivatives also results in a form of leverage and as such, the Fund's risk of loss associated with these instruments may exceed their value.

The Fund is party to various derivative contracts governed by International Swaps and Derivatives Association master agreements ("ISDA agreements"). The Fund's ISDA agreements, which are separately negotiated with each dealer counterparty, may contain provisions allowing, absent other considerations, a counterparty to exercise rights, to the extent not otherwise waived, against the Fund in the event the Fund's net assets decline over time by a pre-determined percentage or fall below a pre-determined floor. The ISDA agreements may also contain provisions allowing, absent other conditions, the Fund to exercise rights, to the extent not otherwise waived, against a counterparty (e.g., decline in a counterparty's credit rating below a specified level). Such rights for both a counterparty and the Fund often include the ability to terminate (i.e., close out) open contracts at prices which may favor a counterparty, which could have an adverse effect on the Fund. The ISDA agreements give the Fund and a counterparty the right, upon an event of default, to close out all transactions traded under such agreements and to net amounts owed or due across all transactions and offset such net payable or receivable against collateral posted to a segregated account by one party for the benefit of the other.

------

**JPMorgan Diversified Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF March 31, 2026 (Unaudited) (continued)

(Dollar values in thousands)

Counterparty credit risk may be mitigated to the extent a counterparty posts additional collateral for mark to market gains to the Fund.

Notes (1) — (2) below describe the various derivatives used by the Fund.

**(1). Futures Contracts**— The Fund used currency, index, interest rate, treasury or other financial futures contracts to manage and hedge interest rate risk associated with portfolio investments and to gain or reduce exposure to positive and negative price fluctuation or a particular countries or regions. The Fund also used futures contracts to lengthen or shorten the duration of the overall investment portfolio. The Fund used commodity futures contracts to obtain long and short exposure to the underlying commodities markets. The purchase of futures contracts will tend to increase the Fund's exposure to positive and negative price fluctuations in the underlying instrument. The sales of futures contracts will tend to offset both positive and negative market price changes.

Futures contracts provide for the delayed delivery of the underlying instrument at a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future. Upon entering into a futures contract, the Fund is required to deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Fund periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as change in net unrealized appreciation/depreciation on futures contracts. Securities deposited as initial margin are designated on the Schedule of Investments, while cash deposited is considered restricted.

The Fund may be exposed to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subject the Fund to risk of loss up to the notional amount of the futures contracts. Use of short futures contracts subjects the Fund to unlimited risk of loss. The Fund may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Fund's credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day's settlement price, which could effectively prevent liquidation of positions.

The Fund's futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).

**(2). Forward Foreign Currency Exchange Contracts**— The Fund is exposed to foreign currency risks associated with some or all of the portfolio investments and used forward foreign currency exchange contracts to hedge or manage certain of these exposures as part of an investment strategy. The Fund also bought forward foreign currency exchange contracts to gain exposure to currencies. Forward foreign currency exchange contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. dollars without the delivery of the foreign currency.

The values of the forward foreign currency exchange contracts are adjusted daily based on the applicable exchange rate of the underlying currency. Changes in the value of these contracts are recorded as unrealized appreciation or depreciation until the contract settlement date. When the forward foreign currency exchange contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time the contract was opened and the value at the time it was closed. The Fund also records a realized gain or loss, upon settlement, when a forward foreign currency exchange contract offsets another forward foreign currency exchange contract with the same counterparty.

The Fund's forward foreign currency exchange contracts are subject to master netting arrangements (the right to close out all transactions with a counterparty and net amounts owed or due across transactions).

The Fund may be required to post or receive collateral for non-deliverable forward foreign currency exchange contracts.

------

## 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:** 390 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

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

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

- **a. Name of Series:** JPMorgan Diversified Fund

- **b. EDGAR series identifier (if any):** S000002766

- **c. LEI of Series:** 26JKWV9VE7AKN11JL078

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**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:** $481845009.80

**Total Liabilities:** $4076733.66

**Net Assets:** $477768276.14

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 56.71529000 | **1-Year:** 2376.83954000 | **5-Year:** 15528.56539000 | **10-Year:** 30006.88487000 | **30-Year:** 7460.34885000

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

- **3-Month:** 7.58663000 | **1-Year:** 60.61947000 | **5-Year:** 111.48897000 | **10-Year:** 112.24463000 | **30-Year:** 431.17309000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007578 | 1.46%                | 0.72%                | -5.80%               |
| Class ID C000195232 | 1.56%                | 0.77%                | -5.70%               |
| Class ID C000007574 | 1.55%                | 0.76%                | -5.71%               |
| Class ID C000007575 | 1.56%                | 0.70%                | -5.71%               |
| Class ID C000007576 | 1.50%                | 0.71%                | -5.71%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2567338.60              | $3479494.70                                |
| Month 2  | $2671386.31              | $1022037.37                                |
| Month 3  | $-57975.34               | $-22086317.92                              |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CBRE Group, Inc.                                    | CBRE Group, Inc., Class A                                                         | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      1704 | NS      | $230823.84    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1926.58     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts, Inc.                         | Host Hotels & Resorts, Inc.                                                       | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |      3032 | NS      | $58093.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange, Inc.                     | Intercontinental Exchange, Inc.                                                   | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |       571 | NS      | $89806.88     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4253.22      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Western Midstream Operating LP                      | Western Midstream Operating LP                                                    | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    146000 | PA      | $123139.13    | 0.03%             | 2050-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Acushnet Holdings Corp.                             | Acushnet Holdings Corp.                                                           | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |      1141 | NS      | $106660.68    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $6161.38      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-106.03      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-19922.45    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                        | Oracle Corp.                                                                      | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      4608 | NS      | $677882.88    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties LP                          | COPT Defense Properties LP                                                        | CUSIP: 22003BAN6<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |    199000 | PA      | $185601.71    | 0.04%             | 2029-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1659.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Japan 10 Year Bond                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | JP        |       -39 | NC      | $339330.69    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp.                            | Wintrust Financial Corp.                                                          | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      1300 | NS      | $180622.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp. plc                                     | Eaton Corp. plc                                                                   | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |      2312 | NS      | $826933.04    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $191.92       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4217.90      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Humana, Inc.                                        | Humana, Inc.                                                                      | CUSIP: 444859BF8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49777.93     | 0.01%             | 2027-03-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| RLI Corp.                                           | RLI Corp.                                                                         | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |      1375 | NS      | $78430.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Thailand Baht                                       | Thailand Baht                                                                     | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | TH        |        -5 | OU      | $-0.14        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JBS NV                                              | JBS NV                                                                            | CUSIP: 472140AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    125000 | PA      | $125057.50    | 0.03%             | 2036-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| nCino, Inc.                                         | nCino, Inc.                                                                       | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |      4220 | NS      | $63215.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                                      | DTE Energy Co.                                                                    | CUSIP: 233331BN6<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    146000 | PA      | $148900.29    | 0.03%             | 2030-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasing Trust               | GM Financial Automobile Leasing Trust, Series 2024-2, Class A3                    | CUSIP: 36269WAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     39717 | PA      | $39806.46     | 0.01%             | 2027-07-20      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| First Advantage Corp.                               | First Advantage Corp.                                                             | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Long             | EC               | CORP              | US        |      8552 | NS      | $100571.52    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $300.08       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $232.92       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $261.61       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 912833Y20<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    262000 | PA      | $167092.37    | 0.03%             | 2036-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pool Corp.                                          | Pool Corp.                                                                        | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |       786 | NS      | $159031.38    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext NV                                         | Euronext NV                                                                       | CUSIP: N/A<br>LEI: 724500QJ4QSZ3H9QU415       | Long             | EC               | CORP              | NL        |      1625 | NS      | $260945.60    | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $43827.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Norwegian Krone                                     | Norwegian Krone                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | NO        |         0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                                   | Exxon Mobil Corp.                                                                 | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     10288 | NS      | $1745462.08   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co.                                | Vulcan Materials Co.                                                              | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      1282 | NS      | $349088.60    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage LP                              | Extra Space Storage LP                                                            | CUSIP: 30225VAG2<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |     90000 | PA      | $77223.98     | 0.02%             | 2032-03-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                      | Alphabet, Inc., Class A                                                           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     10661 | NS      | $3065677.16   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $11649.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA, Inc.                                           | HCA, Inc.                                                                         | CUSIP: 404119CL1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    200000 | PA      | $159658.60    | 0.03%             | 2052-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-41474.42    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.         | Taiwan Semiconductor Manufacturing Co. Ltd.                                       | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      3230 | NS      | $1091578.50   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Novonesis Novozymes B                               | Novonesis Novozymes B                                                             | CUSIP: N/A<br>LEI: 529900T6WNZXD2R3JW38       | Long             | EC               | CORP              | DK        |      6663 | NS      | $395856.73    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                    | ABN AMRO Bank NV                                                                  | CUSIP: 00084DAW0<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $189304.73    | 0.04%             | 2029-12-13      | Variable      | 2.47%                 | Yes           |                  2 | On Loan: No      |
| Walmart, Inc.                                       | Walmart, Inc.                                                                     | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     15537 | NS      | $1930938.36   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group, Inc.                                     | CME Group, Inc.                                                                   | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      3621 | NS      | $1069462.35   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group, Inc.                     | Interactive Brokers Group, Inc., Class A                                          | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      2649 | NS      | $177668.43    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Evonik Industries AG                                | Evonik Industries AG                                                              | CUSIP: N/A<br>LEI: 41GUOJQTALQHLF39XJ34       | Long             | EC               | CORP              | DE        |      7938 | NS      | $155764.77    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | XAP Consumer Staples Index                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -112 | NC      | $279773.76    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                                | Meta Platforms, Inc.                                                              | CUSIP: 30303MAC6<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19803.78     | 0.00%             | 2032-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LKZL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $497630.29    | 0.10%             | 2030-07-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Crowdstrike Holdings, Inc.                          | Crowdstrike Holdings, Inc., Class A                                               | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |       313 | NS      | $122198.33    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| uniQure NV                                          | uniQure NV                                                                        | CUSIP: N/A<br>LEI: 724500RPCTZLFYJZ3S98       | Long             | EC               | CORP              | NL        |       815 | NS      | $13325.25     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $421.14       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                          | AT&T, Inc.                                                                        | CUSIP: 00206RLV2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    344000 | PA      | $222904.97    | 0.05%             | 2059-09-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                      | Alphabet, Inc.                                                                    | CUSIP: 02079KBP1<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64790.93     | 0.01%             | 2056-02-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Canadian Natural Resources Ltd.                     | Canadian Natural Resources Ltd.                                                   | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |      8063 | NS      | $393325.56    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System, Inc.                               | Landstar System, Inc.                                                             | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |       618 | NS      | $99071.58     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp.                                      | Amphenol Corp., Class A                                                           | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      6734 | NS      | $850840.90    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets, Inc.                             | Robinhood Markets, Inc., Class A                                                  | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |      1506 | NS      | $104365.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-48.68       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                  | Vodafone Group plc                                                                | CUSIP: 92857WBY5<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    283000 | PA      | $264273.73    | 0.06%             | 2053-02-10      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Loews Corp.                                         | Loews Corp.                                                                       | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |      1930 | NS      | $206008.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK, Inc.                                        | AMETEK, Inc.                                                                      | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      1255 | NS      | $269021.80    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1409.21     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                   | Wells Fargo & Co.                                                                 | CUSIP: 95000U3E1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35804.04     | 0.01%             | 2029-07-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| Chubb Ltd.                                          | Chubb Ltd.                                                                        | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |       423 | NS      | $137868.39    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Music Group Corp.                            | Warner Music Group Corp., Class A                                                 | CUSIP: 934550203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2725 | NS      | $69596.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $7454.50      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG       | Muenchener Rueckversicherungs-Gesellschaft AG (Registered)                        | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |      3268 | NS      | $2063876.98   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Balchem Corp.                                       | Balchem Corp.                                                                     | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |       885 | NS      | $149989.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $16964.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Driven Brands Holdings, Inc.                        | Driven Brands Holdings, Inc.                                                      | CUSIP: 26210V102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4134 | NS      | $52129.74     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Residential Trust                          | Progress Residential Trust, Series 2025-SFR1, Class A                             | CUSIP: 74334NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    238288 | PA      | $226808.26    | 0.05%             | 2042-02-17      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Thermo Fisher Scientific, Inc.                      | Thermo Fisher Scientific, Inc.                                                    | CUSIP: 883556DH2<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |     73000 | PA      | $72126.65     | 0.02%             | 2033-06-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                      | Hyundai Auto Receivables Trust, Series 2025-A, Class A3                           | CUSIP: 44935CAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    143000 | PA      | $143334.26    | 0.03%             | 2029-10-15      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-3581.61     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $944.01       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $20098.92     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-31900.87    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-3049.53     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Columbia Pipelines Operating Co. LLC                | Columbia Pipelines Operating Co. LLC                                              | CUSIP: 19828TAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101414.55    | 0.02%             | 2035-02-15      | Fixed         | 5.44%                 | Yes           |                  2 | On Loan: No      |
| NVIDIA Corp.                                        | NVIDIA Corp.                                                                      | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     62151 | NS      | $10839134.40  | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-315.12      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PG&E Corp.                                          | PG&E Corp.                                                                        | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |      8016 | NS      | $140841.12    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-3010.96     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                    | Amazon.com, Inc.                                                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     29009 | NS      | $6041704.43   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp.                                        | Gentex Corp.                                                                      | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |      3321 | NS      | $72563.85     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2295.96      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $538.65       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $252.18       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-37940.62    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Colliers International Group, Inc.                  | Colliers International Group, Inc.                                                | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Long             | EC               | CORP              | CA        |      1841 | NS      | $196784.49    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos., Inc.                                 | Carlisle Cos., Inc.                                                               | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |       225 | NS      | $75064.50     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-335.33      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                        | Verizon Communications, Inc.                                                      | CUSIP: 92343VHC1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49817.66     | 0.01%             | 2037-07-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1098.42     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $16775.37     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Jabil, Inc.                                         | Jabil, Inc.                                                                       | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |       571 | NS      | $151674.73    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-190206.45   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Greece SA                          | National Bank of Greece SA                                                        | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               | CORP              | GR        |     28674 | NS      | $442952.63    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-186.99      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $50.20        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays plc                                        | Barclays plc                                                                      | CUSIP: 06738EBV6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $268041.51    | 0.06%             | 2032-11-24      | Variable      | 2.89%                 | No            |                  2 | On Loan: No      |
| ICU Medical, Inc.                                   | ICU Medical, Inc.                                                                 | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |      1073 | NS      | $138577.95    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140JB2H8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    461836 | PA      | $399041.11    | 0.08%             | 2061-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3133KNNT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    438122 | PA      | $385154.24    | 0.08%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Hilton Worldwide Holdings, Inc.                     | Hilton Worldwide Holdings, Inc.                                                   | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |       723 | NS      | $219849.84    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Fells Point Funding Trust                           | Fells Point Funding Trust                                                         | CUSIP: 314382AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    290000 | PA      | $286732.21    | 0.06%             | 2027-01-31      | Fixed         | 3.05%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Active Growth ETF                          | JPMorgan Active Growth ETF                                                        | CUSIP: 46654Q609<br>LEI: 5493001GSJ14WQX68P70 | Long             |  | RF                | US        |     99958 | NS      | $8448450.16   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $22214.03     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust  | GM Financial Consumer Automobile Receivables Trust, Series 2024-1, Class A3       | CUSIP: 36268GAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     28959 | PA      | $29071.50     | 0.01%             | 2028-12-18      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Doximity, Inc.                                      | Doximity, Inc., Class A                                                           | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2688 | NS      | $62630.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                                        | ING Groep NV                                                                      | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |     12236 | NS      | $317605.94    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell Finance US, Inc.                              | Shell Finance US, Inc.                                                            | CUSIP: 822905AQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $98308.91     | 0.02%             | 2036-01-06      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                              | Northrop Grumman Corp.                                                            | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |       861 | NS      | $587408.64    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| RWE AG                                              | RWE AG                                                                            | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |      4496 | NS      | $302485.69    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                        | Oracle Corp.                                                                      | CUSIP: 68389XCP8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     71000 | PA      | $67285.92     | 0.01%             | 2033-02-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $5487.02      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mid-America Apartment Communities, Inc.             | Mid-America Apartment Communities, Inc.                                           | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |      1498 | NS      | $182935.76    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury Bonds                                                               | CUSIP: 912810RD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400000 | PA      | $346593.75    | 0.07%             | 2043-11-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BJ's Wholesale Club Holdings, Inc.                  | BJ's Wholesale Club Holdings, Inc.                                                | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |      1707 | NS      | $168002.94    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.         | Taiwan Semiconductor Manufacturing Co. Ltd.                                       | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      4754 | NS      | $1606614.30   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International, Inc.                             | RPM International, Inc.                                                           | CUSIP: 749685AY9<br>LEI: 549300TJCKW4BRXPJ474 | Long             | DBT              | CORP              | US        |     14000 | PA      | $12585.47     | 0.00%             | 2032-01-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-3973.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140NMGY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    958925 | PA      | $948818.87    | 0.20%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Macquarie Group Ltd.                                | Macquarie Group Ltd.                                                              | CUSIP: 55607PAG0<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |    240000 | PA      | $215365.86    | 0.05%             | 2032-06-23      | Variable      | 2.69%                 | Yes           |                  2 | On Loan: No      |
| Sony Group Corp.                                    | Sony Group Corp.                                                                  | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |     60900 | NS      | $1269322.66   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                            | Bristol-Myers Squibb Co.                                                          | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     14778 | NS      | $896285.70    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 9128284N7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $490488.28    | 0.10%             | 2028-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| TechnipFMC plc                                      | TechnipFMC plc                                                                    | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |      3743 | NS      | $258753.59    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial Corp.                            | Manulife Financial Corp.                                                          | CUSIP: 56501RAE6<br>LEI: 5493007GBX87QOZACS27 | Long             | DBT              | CORP              | CA        |    170000 | PA      | $168710.33    | 0.04%             | 2032-02-24      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                          | Alibaba Group Holding Ltd.                                                        | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |     52300 | NS      | $819775.79    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| EIDP, Inc.                                          | EIDP, Inc.                                                                        | CUSIP: 263534CQ0<br>LEI: GLU7INWNWH88J9XBXD45 | Long             | DBT              | CORP              | US        |     64000 | PA      | $63988.82     | 0.01%             | 2026-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                     | Eli Lilly & Co.                                                                   | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1145 | NS      | $1053136.65   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-14191.79    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco AB                                      | Atlas Copco AB, Class A                                                           | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |     42959 | NS      | $758090.03    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Stryker Corp.                                       | Stryker Corp.                                                                     | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      3770 | NS      | $1238784.30   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1050.02      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp. Trust             | Structured Asset Securities Corp. Trust, Series 2005-SC1, Class 1A1               | CUSIP: 86359DTE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         1 | PA      | $0.83         | 0.00%             | 2031-05-25      | Floating      | 4.33%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-17892.13    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4797.90      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                              | Howmet Aerospace, Inc.                                                            | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      2765 | NS      | $637221.90    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1102.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1372.97      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $15051.85     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinsale Capital Group, Inc.                         | Kinsale Capital Group, Inc.                                                       | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |       797 | NS      | $272303.02    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finance Ltd.                                  | Bajaj Finance Ltd.                                                                | CUSIP: N/A<br>LEI: 335800YTEXC3DO4Z6F68       | Long             | EC               | CORP              | IN        |     43508 | NS      | $372284.21    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                      | Alphabet, Inc., Class C                                                           | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      6432 | NS      | $1845083.52   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $38.67        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                        | Pacific Gas and Electric Co.                                                      | CUSIP: 694308JN8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    438000 | PA      | $362828.81    | 0.08%             | 2050-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Medpace Holdings, Inc.                              | Medpace Holdings, Inc.                                                            | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |       154 | NS      | $73949.26     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140JBZB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    844281 | PA      | $734698.45    | 0.15%             | 2032-03-01      | Variable      | 1.76%                 | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                        | DNB Bank ASA                                                                      | CUSIP: 25601B2B0<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $194351.21    | 0.04%             | 2028-03-30      | Variable      | 1.60%                 | Yes           |                  2 | On Loan: No      |
| Neurocrine Biosciences, Inc.                        | Neurocrine Biosciences, Inc.                                                      | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      1908 | NS      | $251359.92    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1364.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Niagara Mohawk Power Corp.                          | Niagara Mohawk Power Corp.                                                        | CUSIP: 65364UAV8<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |    123000 | PA      | $120772.69    | 0.03%             | 2036-01-12      | Fixed         | 5.11%                 | Yes           |                  2 | On Loan: No      |
| Boston Scientific Corp.                             | Boston Scientific Corp.                                                           | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      2438 | NS      | $152984.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $108.08       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Amcor Flexibles North America, Inc.                 | Amcor Flexibles North America, Inc.                                               | CUSIP: 02344AAK4<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24305.46     | 0.01%             | 2036-03-12      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Insmed, Inc.                                        | Insmed, Inc.                                                                      | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      2172 | NS      | $355165.44    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit, Inc.                                        | Intuit, Inc.                                                                      | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      1847 | NS      | $798605.86    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Co.                           | Molson Coors Beverage Co.                                                         | CUSIP: 60871RAH3<br>LEI: 54930073LBBH6ZCBE225 | Long             | DBT              | CORP              | US        |    143000 | PA      | $111674.51    | 0.02%             | 2046-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1007.12     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| International Business Machines Corp.               | International Business Machines Corp.                                             | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |       502 | NS      | $121679.78    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.                        | Marriott International, Inc., Class A                                             | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |       619 | NS      | $202456.33    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Avolon Holdings Funding Ltd.                        | Avolon Holdings Funding Ltd.                                                      | CUSIP: 05401AAL5<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $399788.00    | 0.08%             | 2026-04-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $11.12        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3392.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2996.08      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kitron ASA                                          | Kitron ASA                                                                        | CUSIP: N/A<br>LEI: 5967007LIEEXZXIG6009       | Long             | EC               | CORP              | NO        |     15747 | NS      | $152003.22    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                    | Roche Holding AG                                                                  | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |      1879 | NS      | $749891.70    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-353.20      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1555.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Snowflake, Inc.                                     | Snowflake, Inc., Class A                                                          | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      1107 | NS      | $166957.74    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia, Inc.                                          | Saia, Inc.                                                                        | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |       339 | NS      | $119083.92    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp.                            | SBA Communications Corp.                                                          | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |       573 | NS      | $98619.03     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $363.65       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Next plc                                            | Next plc                                                                          | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |      1215 | NS      | $205272.88    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ABIOMED, Inc.                                       | ABIOMED, Inc., CVR                                                                | CUSIP: 003CVR016<br>LEI: 5493001EZN4ZTB4Z5887 | Long             |  | CORP              | US        |        41 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-387.91      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $7.08         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| XCMG Construction Machinery Co. Ltd.                | XCMG Construction Machinery Co. Ltd., Class A                                     | CUSIP: N/A<br>LEI: 300300QGG1VFJ0WTJE78       | Long             | EC               | CORP              | CN        |    185200 | NS      | $273474.50    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK plc                                             | GSK plc                                                                           | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |     12654 | NS      | $348560.48    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Healthpeak OP LLC                                   | Healthpeak OP LLC                                                                 | CUSIP: 42250PAD5<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |     23000 | PA      | $21662.26     | 0.00%             | 2028-12-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Mettler-Toledo International, Inc.                  | Mettler-Toledo International, Inc.                                                | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |        71 | NS      | $89545.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                                         | Apple, Inc.                                                                       | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     27100 | NS      | $6877709.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus, Inc.                                        | Cactus, Inc., Class A                                                             | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |      2515 | NS      | $119135.55    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.                               | Quanta Services, Inc.                                                             | CUSIP: 74762EAH5<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |     53000 | PA      | $46163.42     | 0.01%             | 2032-01-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Freshpet, Inc.                                      | Freshpet, Inc.                                                                    | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |      1517 | NS      | $89442.32     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-61.52       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                      | Morgan Stanley                                                                    | CUSIP: 61747YFU4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    271000 | PA      | $270888.24    | 0.06%             | 2030-10-18      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| British American Tobacco plc                        | British American Tobacco plc                                                      | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |     12433 | NS      | $721845.42    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-9270.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BPCE SA                                             | BPCE SA                                                                           | CUSIP: 05583JAJ1<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $220382.82    | 0.05%             | 2032-01-20      | Variable      | 2.28%                 | Yes           |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 912834AD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    355000 | PA      | $207963.88    | 0.04%             | 2037-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $31.08        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DoorDash, Inc.                                      | DoorDash, Inc., Class A                                                           | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      2240 | NS      | $336336.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2025-5A, Class C                      | CUSIP: 30166VAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     45000 | PA      | $44815.59     | 0.01%             | 2032-03-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                   | Credit Acceptance Auto Loan Trust, Series 2023-1A, Class B                        | CUSIP: 224927AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    176223 | PA      | $176773.79    | 0.04%             | 2033-05-16      | Fixed         | 7.02%                 | Yes           |                  2 | On Loan: No      |
| NMC Health plc                                      | NMC Health plc                                                                    | CUSIP: N/A<br>LEI: 2138008YQEVWBE1V2M52       | Long             | EC               | CORP              | GB        |       516 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NextEra Energy, Inc.                                | NextEra Energy, Inc.                                                              | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     26113 | NS      | $2425375.44   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140QMCL6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    426452 | PA      | $377610.40    | 0.08%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                           | Toyota Motor Credit Corp., Series B                                               | CUSIP: 89236TPS8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118146.71    | 0.02%             | 2033-03-11      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Southwest Airlines Co.                              | Southwest Airlines Co.                                                            | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      2735 | NS      | $102753.95    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1590.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                             | CarMax Auto Owner Trust, Series 2023-4, Class A3                                  | CUSIP: 14318XAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     44861 | PA      | $45308.74     | 0.01%             | 2028-07-17      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, REMIC, Series 2015-34, Class AZ                                             | CUSIP: 3136AN3X3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    893014 | PA      | $774126.30    | 0.16%             | 2045-06-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-608.55      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sonoco Products Co.                                 | Sonoco Products Co.                                                               | CUSIP: 835495AS1<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |    365000 | PA      | $357031.05    | 0.07%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oncor Electric Delivery Co. LLC                     | Oncor Electric Delivery Co. LLC                                                   | CUSIP: 68233JDC5<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    123000 | PA      | $125685.73    | 0.03%             | 2035-04-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3653.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG                                  | Deutsche Boerse AG                                                                | CUSIP: N/A<br>LEI: 529900G3SW56SHYNPR95       | Long             | EC               | CORP              | DE        |      4549 | NS      | $1332608.57   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $8.21         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Danish Krone                                        | Danish Krone                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | DK        |     20673 | OU      | $3197.53      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group plc                                   | Compass Group plc                                                                 | CUSIP: N/A<br>LEI: 2138008M6MH9OZ6U2T68       | Long             | EC               | CORP              | GB        |     20059 | NS      | $559664.72    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                         | Capital One Financial Corp.                                                       | CUSIP: 14040HBW4<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    336000 | PA      | $332054.15    | 0.07%             | 2028-01-31      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.               | NextEra Energy Capital Holdings, Inc.                                             | CUSIP: 65339KCL2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65313.59     | 0.01%             | 2027-09-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                       | SM Energy Co.                                                                     | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |      5155 | NS      | $160732.90    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CFH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6500000 | PA      | $6436269.52   | 1.35%             | 2027-08-31      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $949.02       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| New Zealand Dollar                                  | New Zealand Dollar                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | NZ        |       436 | OU      | $250.73       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $198.14       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $105.85       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-216.69      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Alt-A Securities Mortgage Loan Trust       | Deutsche Alt-A Securities Mortgage Loan Trust, Series 2006-AF1, Class A4          | CUSIP: 251510NC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2036-04-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                          | Aviation Capital Group LLC                                                        | CUSIP: 05369AAS0<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55286.53     | 0.01%             | 2030-04-10      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| American Express Co.                                | American Express Co.                                                              | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      5218 | NS      | $1578340.64   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $40.13        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA                               | Spotify Technology SA                                                             | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | LU        |       359 | NS      | $174082.69    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey, Inc.                                      | WP Carey, Inc.                                                                    | CUSIP: 92936UAH2<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |    443000 | PA      | $367554.81    | 0.08%             | 2033-04-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-5996.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-889.05      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $222.97       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FirstKey Homes Trust                                | FirstKey Homes Trust, Series 2022-SFR1, Class A                                   | CUSIP: 33768NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    110074 | PA      | $109601.46    | 0.02%             | 2039-05-19      | Fixed         | 4.14%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-416.05      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MGIC Investment Corp.                               | MGIC Investment Corp.                                                             | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |      5381 | NS      | $141251.25    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                   | Johnson & Johnson                                                                 | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      7824 | NS      | $1912498.56   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co.                                        | Moelis & Co., Class A                                                             | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |      2214 | NS      | $126198.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell International LLC                              | Dell International LLC                                                            | CUSIP: 24703DBJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $16212.80     | 0.00%             | 2028-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1355.04      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ireland Group plc                           | Bank of Ireland Group plc                                                         | CUSIP: 06279JAD1<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $205106.19    | 0.04%             | 2030-03-20      | Variable      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $28.68        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                   | Merck & Co., Inc.                                                                 | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      3450 | NS      | $415000.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                                    | Mastercard, Inc., Class A                                                         | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      7262 | NS      | $3628530.92   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $499.40       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays plc                                        | Barclays plc                                                                      | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |     58742 | NS      | $307425.31    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1030.10      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cranswick plc                                       | Cranswick plc                                                                     | CUSIP: N/A<br>LEI: 549300LDZLPU51XOSK43       | Long             | EC               | CORP              | GB        |      2566 | NS      | $177629.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T, Inc.                                          | AT&T, Inc.                                                                        | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     23668 | NS      | $686135.32    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                               | American Homes 4 Rent, Class A                                                    | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |      3865 | NS      | $107910.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LEPQ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    977899 | PA      | $865574.13    | 0.18%             | 2032-01-01      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| Swedish Krona                                       | Swedish Krona                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SE        |      6820 | OU      | $720.44       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp.                                      | M&T Bank Corp.                                                                    | CUSIP: 55261FAY0<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30314.39     | 0.01%             | 2031-07-08      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-410.84      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LKD67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    550000 | PA      | $549652.59    | 0.12%             | 2028-05-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Owner Trust                             | BMW Vehicle Owner Trust, Series 2023-A, Class A3                                  | CUSIP: 05592XAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15320 | PA      | $15398.34     | 0.00%             | 2028-02-25      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-411.22      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Kuwaiti Dinar                                       | Kuwaiti Dinar                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | KW        |        11 | OU      | $36.80        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Indra Sistemas SA                                   | Indra Sistemas SA                                                                 | CUSIP: N/A<br>LEI: 95980020140005308793       | Long             | EC               | CORP              | ES        |      3687 | NS      | $206068.01    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $860.22       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3132E0SG8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    632462 | PA      | $562948.70    | 0.12%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4554.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note Trust                | Toyota Auto Loan Extended Note Trust, Series 2023-1A, Class A                     | CUSIP: 89231WAA1<br>LEI: 5493000KI9FC40RVHF71 | Long             | ABS-O            | CORP              | US        |    114000 | PA      | $115721.99    | 0.02%             | 2036-06-25      | Fixed         | 4.93%                 | Yes           |                  2 | On Loan: No      |
| Amazon.com, Inc.                                    | Amazon.com, Inc.                                                                  | CUSIP: 023135DH6<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139887.49    | 0.03%             | 2056-03-13      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                    | Ventas Realty LP                                                                  | CUSIP: 92277GAJ6<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119338.87    | 0.02%             | 2026-10-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.         | Taiwan Semiconductor Manufacturing Co. Ltd.                                       | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |     30000 | NS      | $1735035.75   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1125.09      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CNO Global Funding                                  | CNO Global Funding                                                                | CUSIP: 18977W2C3<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |    410000 | PA      | $388389.09    | 0.08%             | 2029-01-06      | Fixed         | 2.65%                 | Yes           |                  2 | On Loan: No      |
| Bright Horizons Family Solutions, Inc.              | Bright Horizons Family Solutions, Inc.                                            | CUSIP: 109194100<br>LEI: 2549009BKSVTM7UEYT38 | Long             | EC               | CORP              | US        |      2292 | NS      | $188241.96    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Ireland Capital DAC                          | AerCap Ireland Capital DAC                                                        | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    450000 | PA      | $445043.18    | 0.09%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1834.30     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4338.45      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kia Corp.                                           | Kia Corp.                                                                         | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |      6834 | NS      | $674727.68    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1152.83      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EastGroup Properties, Inc.                          | EastGroup Properties, Inc.                                                        | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |       903 | NS      | $167136.27    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $253.99       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Middleby Corp. (The)                                | Middleby Corp. (The)                                                              | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |      1928 | NS      | $255614.24    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Asmodee Group AB                                    | Asmodee Group AB, Class B                                                         | CUSIP: N/A<br>LEI: 636700G5993BBAFDYD02       | Long             | EC               | CORP              | SE        |      8035 | NS      | $90258.11     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla, Inc.                                         | Tesla, Inc.                                                                       | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      5434 | NS      | $2020089.50   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Russell 2000 E-Mini Index                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -114 | NC      | $-82907.07    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Virginia Electric and Power Co.                     | Virginia Electric and Power Co.                                                   | CUSIP: 927804GU2<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    219000 | PA      | $209645.07    | 0.04%             | 2055-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                       | Comcast Corp.                                                                     | CUSIP: 20030NDA6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    467000 | PA      | $437343.12    | 0.09%             | 2030-02-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, REMIC, Series 4995, Class QE                                               | CUSIP: 3137FUXT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    536340 | PA      | $415420.68    | 0.09%             | 2050-07-25      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $16.69        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust              | Santander Drive Auto Receivables Trust, Series 2025-1, Class C                    | CUSIP: 80288DAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     68000 | PA      | $68618.15     | 0.01%             | 2031-03-17      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corp.                             | Regions Financial Corp.                                                           | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      3905 | NS      | $101998.60    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury Bonds                                                               | CUSIP: 912810SN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1200000 | PA      | $569484.37    | 0.12%             | 2050-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Maire SpA                                           | Maire SpA                                                                         | CUSIP: N/A<br>LEI: 815600D85A61200A1B83       | Long             | EC               | CORP              | IT        |      4893 | NS      | $76168.32     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2078.36     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Targa Resources Partners LP                         | Targa Resources Partners LP                                                       | CUSIP: 87612BBU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $17058.69     | 0.00%             | 2032-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                              | Extra Space Storage LP                                                            | CUSIP: 30225VAP2<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    258000 | PA      | $230831.95    | 0.05%             | 2030-10-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Hillman Solutions Corp.                             | Hillman Solutions Corp.                                                           | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15523 | NS      | $129151.36    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings, Inc.                                  | RBC Bearings, Inc.                                                                | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       369 | NS      | $200411.28    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Temenos AG                                          | Temenos AG (Registered)                                                           | CUSIP: N/A<br>LEI: 5067007NW6550481FH64       | Long             | EC               | CORP              | CH        |      1993 | NS      | $174679.13    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140FXVK5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    299733 | PA      | $246464.85    | 0.05%             | 2062-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Turkish Lira                                        | Turkish Lira                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | TR        |       458 | OU      | $10.30        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $24866.27     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1244.75     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                         | Cheniere Energy Partners LP                                                       | CUSIP: 16411QAW1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35642.19     | 0.01%             | 2035-10-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Cushman & Wakefield Ltd.                            | Cushman & Wakefield Ltd.                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |     13768 | NS      | $168795.68    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-744.96      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                        | Ford Credit Auto Owner Trust, Series 2023-A, Class A3                             | CUSIP: 344928AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21331 | PA      | $21365.91     | 0.00%             | 2028-02-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $410.07       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $284.95       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1700000 | PA      | $1738515.63   | 0.36%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LH3F5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1100000 | PA      | $1107072.42   | 0.23%             | 2034-11-01      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2275000 | PA      | $2244074.22   | 0.47%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140NY7A3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    515000 | PA      | $514335.56    | 0.11%             | 2032-08-01      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Fabrinet                                            | Fabrinet                                                                          | CUSIP: N/A<br>LEI: 5493004TETZ6IYF7CV44       | Long             | EC               | CORP              | KY        |       382 | NS      | $199220.64    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Balfour Beatty plc                                  | Balfour Beatty plc                                                                | CUSIP: N/A<br>LEI: CT4UIJ3TUKGYYHMENQ17       | Long             | EC               | CORP              | GB        |     17268 | NS      | $174832.51    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| New Mexican Pesos                                   | New Mexican Pesos                                                                 | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | MX        |        -0 | OU      | $-0.02        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4371.82     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Thales SA                                           | Thales SA                                                                         | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |       708 | NS      | $207617.59    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-315.70      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                      | Hewlett Packard Enterprise Co.                                                    | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     10010 | NS      | $238338.10    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar, Inc.                                   | Morningstar, Inc.                                                                 | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |      1018 | NS      | $172092.90    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $76.72        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust       | Bridgecrest Lending Auto Securitization Trust, Series 2025-2, Class C             | CUSIP: 10807HAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    119000 | PA      | $119626.99    | 0.03%             | 2031-03-17      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | U.S. Treasury 10 Year Note                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       136 | NC      | $-250827.71   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1280.87      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                   | HSBC Holdings plc                                                                 | CUSIP: 404280EN5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    310000 | PA      | $315626.73    | 0.07%             | 2030-11-19      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                        | Hilton Grand Vacations Trust, Series 2022-1D, Class A                             | CUSIP: 43283BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     29038 | PA      | $28938.61     | 0.01%             | 2034-06-20      | Fixed         | 3.61%                 | Yes           |                  2 | On Loan: No      |
| Raymond James Financial, Inc.                       | Raymond James Financial, Inc.                                                     | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |       900 | NS      | $130311.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $851.11       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Bonds                                                               | CUSIP: 912810SX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2500000 | PA      | $1563964.85   | 0.33%             | 2051-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3133KPZA9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    444943 | PA      | $442303.80    | 0.09%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp.                                 | Realty Income Corp.                                                               | CUSIP: 756109AX2<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    283000 | PA      | $266106.10    | 0.06%             | 2031-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Teradyne, Inc.                                      | Teradyne, Inc.                                                                    | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |       904 | NS      | $267999.84    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Solstice Advanced Materials, Inc.                   | Solstice Advanced Materials, Inc.                                                 | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |      1830 | NS      | $139372.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LFKF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    553851 | PA      | $480249.73    | 0.10%             | 2034-02-01      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                             | Molina Healthcare, Inc.                                                           | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |       187 | NS      | $24927.10     | 0.01%             |  |  |  | No            |                  1 | 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        |      1336 | NS      | $730323.89    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                 | Fifth Third Bancorp                                                               | CUSIP: 316773DG2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    406000 | PA      | $406061.09    | 0.08%             | 2030-07-28      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| Quest Diagnostics, Inc.                             | Quest Diagnostics, Inc.                                                           | CUSIP: 74834LBB5<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |    283000 | PA      | $265132.24    | 0.06%             | 2030-06-30      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                           | RTX Corp.                                                                         | CUSIP: 913017CY3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    148000 | PA      | $147378.69    | 0.03%             | 2028-11-16      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Prudential plc                                      | Prudential plc                                                                    | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |      5206 | NS      | $72379.62     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Concentra Group Holdings Parent, Inc.               | Concentra Group Holdings Parent, Inc.                                             | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5948 | NS      | $127584.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                               | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K-150, Class A2  | CUSIP: 3137H9C98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    879250 | PA      | $844287.24    | 0.18%             | 2032-09-25      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| Progressive Corp. (The)                             | Progressive Corp. (The)                                                           | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      2221 | NS      | $440291.04    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                     | ASML Holding NV (Registered)                                                      | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       205 | NS      | $270770.15    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group, Inc.                           | Nexstar Media Group, Inc.                                                         | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |       552 | NS      | $99818.16     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1101.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Paylocity Holding Corp.                             | Paylocity Holding Corp.                                                           | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |      1643 | NS      | $177509.72    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1565.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayer AG                                            | Bayer AG (Registered)                                                             | CUSIP: N/A<br>LEI: 549300J4U55H3WP1XT59       | Long             | EC               | CORP              | DE        |      3053 | NS      | $141287.44    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                    | Deutsche Bank AG                                                                  | CUSIP: 25160PAH0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $196888.52    | 0.04%             | 2028-01-07      | Variable      | 2.55%                 | No            |                  2 | On Loan: No      |
| Reach ABS Trust                                     | Reach ABS Trust, Series 2026-1A, Class C                                          | CUSIP: 75526XAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99295.30     | 0.02%             | 2033-02-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1317.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Trust                   | World Omni Auto Receivables Trust, Series 2023-A, Class A3                        | CUSIP: 98164JAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20865 | PA      | $20901.18     | 0.00%             | 2028-05-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $362.96       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2608.88      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| St. James's Place plc                               | St. James's Place plc                                                             | CUSIP: N/A<br>LEI: 213800M993ICXOMBCP87       | Long             | EC               | CORP              | GB        |      4995 | NS      | $78814.24     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Casella Waste Systems, Inc.                         | Casella Waste Systems, Inc., Class A                                              | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |      2160 | NS      | $171374.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MVW LLC                                             | MVW LLC, Series 2021-2A, Class A                                                  | CUSIP: 55400KAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     41299 | PA      | $39223.06     | 0.01%             | 2039-05-20      | Fixed         | 1.43%                 | Yes           |                  2 | On Loan: No      |
| OneMain Direct Auto Receivables Trust               | OneMain Direct Auto Receivables Trust, Series 2023-1A, Class A                    | CUSIP: 682685AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    319631 | PA      | $321887.60    | 0.07%             | 2029-11-14      | Fixed         | 5.41%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust        | American Credit Acceptance Receivables Trust, Series 2026-1, Class D              | CUSIP: 02531FAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155000 | PA      | $153848.37    | 0.03%             | 2033-01-12      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| VAT Group AG                                        | VAT Group AG                                                                      | CUSIP: N/A<br>LEI: 529900MVFK7NVALR7Y83       | Long             | EC               | CORP              | CH        |       276 | NS      | $172180.33    | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Bonds                                                               | CUSIP: 912810SR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    906000 | PA      | $570709.22    | 0.12%             | 2040-05-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Power Integrations, Inc.                            | Power Integrations, Inc.                                                          | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      2866 | NS      | $146739.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                      | BNP Paribas SA                                                                    | CUSIP: 09659W2U7<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $269687.37    | 0.06%             | 2033-01-20      | Variable      | 3.13%                 | Yes           |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.               | Alexandria Real Estate Equities, Inc.                                             | CUSIP: 015271BB4<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |    266000 | PA      | $231077.06    | 0.05%             | 2053-04-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HealthEquity, Inc.                                  | HealthEquity, Inc.                                                                | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |      1895 | NS      | $158365.15    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-478.89      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1058.85     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Legence Corp.                                       | Legence Corp., Class A                                                            | CUSIP: 52476L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1363 | NS      | $76954.98     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Telstra Group Ltd.                                  | Telstra Group Ltd.                                                                | CUSIP: N/A<br>LEI: 894500WRW54CVN62K416       | Long             | EC               | CORP              | AU        |    187678 | NS      | $692833.85    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 912833XZ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    160000 | PA      | $131780.94    | 0.03%             | 2031-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Trane Technologies plc                              | Trane Technologies plc                                                            | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |      4471 | NS      | $1863244.54   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128337U8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    650000 | PA      | $471443.39    | 0.10%             | 2033-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CFU0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1004140.62   | 0.21%             | 2027-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                           | Williams Cos., Inc. (The)                                                         | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      5332 | NS      | $388062.96    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                               | Bank of America Corp.                                                             | CUSIP: 06051GJA8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    150000 | PA      | $116026.23    | 0.02%             | 2051-03-20      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-303.90      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K145, Class AM   | CUSIP: 3137H7YZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    880000 | PA      | $790244.66    | 0.17%             | 2032-06-25      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140ABE43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    482509 | PA      | $476175.60    | 0.10%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Business Jet Securities LLC                         | Business Jet Securities LLC, Series 2024-2A, Class A                              | CUSIP: 12326TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     96734 | PA      | $96476.93     | 0.02%             | 2039-09-15      | Fixed         | 5.36%                 | Yes           |                  3 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $29816.81     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140FXZA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    404844 | PA      | $377282.53    | 0.08%             | 2063-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Miami International Holdings, Inc.                  | Miami International Holdings, Inc.                                                | CUSIP: 59356Q108<br>LEI: 254900TREUDBWGLAP788 | Long             | EC               | CORP              | US        |      3514 | NS      | $136764.88    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Railway Co.                        | Canadian Pacific Railway Co.                                                      | CUSIP: 13648TAD9<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    307000 | PA      | $261905.73    | 0.05%             | 2043-05-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-20274.01    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Stream Innovations Issuer Trust                     | Stream Innovations Issuer Trust, Series 2025-1A, Class A                          | CUSIP: 86324XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     89130 | PA      | $89413.82     | 0.02%             | 2045-09-15      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| J M Smucker Co. (The)                               | J M Smucker Co. (The)                                                             | CUSIP: 832696AZ1<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21821.92     | 0.00%             | 2053-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140FXWR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    528312 | PA      | $476017.67    | 0.10%             | 2062-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                             | MPLX LP                                                                           | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    172000 | PA      | $158537.33    | 0.03%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                      | Carvana Auto Receivables Trust, Series 2025-P3, Class A3                          | CUSIP: 14688AAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $169482.06    | 0.04%             | 2030-11-11      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                  | Banco Santander SA                                                                | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |     41638 | NS      | $466791.91    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Travelers Cos., Inc. (The)                          | Travelers Cos., Inc. (The)                                                        | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       647 | NS      | $188716.96    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corp.                                | Verra Mobility Corp.                                                              | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |      7471 | NS      | $106760.59    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.                               | Quanta Services, Inc.                                                             | CUSIP: 74762EAF9<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46377.49     | 0.01%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Chipotle Mexican Grill, Inc.                        | Chipotle Mexican Grill, Inc., Class A                                             | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Long             | EC               | CORP              | US        |      3600 | NS      | $115236.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                                    | Novo Nordisk A/S, Class B                                                         | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |     13398 | NS      | $490293.06    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $933.65       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide SA                                      | Air Liquide SA                                                                    | CUSIP: N/A<br>LEI: 969500MMPQVHK671GT54       | Long             | EC               | CORP              | FR        |      5765 | NS      | $1191616.88   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2026-1A, Class C                      | CUSIP: 30168HAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $59238.65     | 0.01%             | 2032-05-17      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Regency Centers Corp.                               | Regency Centers Corp.                                                             | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |      2732 | NS      | $206703.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co.                                         | Carvana Co., Class A                                                              | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |       376 | NS      | $118206.88    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GSR Mortgage Loan Trust                             | GSR Mortgage Loan Trust, Series 2004-8F, Class 2A3                                | CUSIP: 36242DCH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       906 | PA      | $914.26       | 0.00%             | 2034-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                     | Moran Foods LLC, 1st Lien PIK Term Loan                                           | CUSIP: 61647DAT9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     96932 | PA      | $24087.58     | 0.01%             | 2026-06-30      | Variable      | 5.67%                 | No            |                  3 | On Loan: No      |
| Charter Communications Operating LLC                | Charter Communications Operating LLC                                              | CUSIP: 161175BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    482000 | PA      | $356370.03    | 0.07%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                    | NRG Energy, Inc.                                                                  | CUSIP: 629377CP5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    230000 | PA      | $221551.00    | 0.05%             | 2027-12-02      | Fixed         | 2.45%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1907.48      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128337F1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1896000 | PA      | $1159142.05   | 0.24%             | 2037-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Maple Parent Holdings Corp.                         | Maple Parent Holdings Corp.                                                       | CUSIP: 56530KAC0<br>LEI: 254900J6FBJ1E892Q074 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19871.76     | 0.00%             | 2036-03-26      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Reckitt Benckiser Group plc                         | Reckitt Benckiser Group plc                                                       | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |      2579 | NS      | $173412.84    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Plains All American Pipeline LP                     | Plains All American Pipeline LP                                                   | CUSIP: 72650RBM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    283000 | PA      | $273856.71    | 0.06%             | 2029-12-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $79.76        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $105.32       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA I, 30 Year                                                                   | CUSIP: 36207FLP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |         0 | PA      | $0.10         | 0.00%             | 2028-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $64.69        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Qualys, Inc.                                        | Qualys, Inc.                                                                      | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |       967 | NS      | $84950.95     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $177.11       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $687.24       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Gold Fields Ltd.                                    | Gold Fields Ltd.                                                                  | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      4706 | NS      | $213652.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-805.77      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Aon North America, Inc.                             | Aon North America, Inc.                                                           | CUSIP: 03740MAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $96352.82     | 0.02%             | 2054-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROBLOX Corp.                                        | ROBLOX Corp., Class A                                                             | CUSIP: 771049103<br>LEI: 529900ANZDBDFU91SO19 | Long             | EC               | CORP              | US        |       849 | NS      | $48019.44     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co.                          | Performance Food Group Co.                                                        | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      4304 | NS      | $368680.64    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1394.95     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Nuvalent, Inc.                                      | Nuvalent, Inc., Class A                                                           | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1024 | NS      | $104908.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp.                              | General Dynamics Corp.                                                            | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |       582 | NS      | $199754.04    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $29405.53     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $53.88        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA ACES, Series 2022-M1G, Class A2                                              | CUSIP: 3136BLRM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $438807.45    | 0.09%             | 2031-09-25      | Variable      | 1.53%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $12090.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deere & Co.                                         | Deere & Co.                                                                       | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       766 | NS      | $431487.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings, Inc.                          | MarketAxess Holdings, Inc.                                                        | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |      1043 | NS      | $172074.14    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2026-2A, Class B                      | CUSIP: 30166WAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     90000 | PA      | $90145.46     | 0.02%             | 2031-01-15      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2029.89      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-388.19      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ventas, Inc.                                        | Ventas, Inc.                                                                      | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |      3673 | NS      | $300377.94    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Perimeter Solutions, Inc.                           | Perimeter Solutions, Inc.                                                         | CUSIP: 71385M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5306 | NS      | $129572.52    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $190.27       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Income Fund                                | JPMorgan Income Fund, Class R6                                                    | CUSIP: 46637K216<br>LEI: 549300J9G10ZQTTAFU03 | Long             |  | RF                | US        |   2972115 | NS      | $25292695.08  | 5.29%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-706.23      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                         | Cie Financiere Richemont SA (Registered)                                          | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |      1496 | NS      | $264142.95    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-3969.10     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Lincoln Electric Holdings, Inc.                     | Lincoln Electric Holdings, Inc.                                                   | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |       371 | NS      | $92408.68     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Pass-Through Trust                | American Airlines Pass-Through Trust, Series 2021-1, Class B                      | CUSIP: 02376LAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    205500 | PA      | $195973.97    | 0.04%             | 2030-07-11      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-6489.91     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1197.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Natera, Inc.                                        | Natera, Inc.                                                                      | CUSIP: 632307104<br>LEI: 529900CQ3OZ0A0VYVU59 | Long             | EC               | CORP              | US        |      1031 | NS      | $206189.69    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                                  | Southern Co. (The)                                                                | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      7298 | NS      | $704402.96    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | DJ US Real Estate Index                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -133 | NC      | $143334.10    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Operations Co. LLC                           | Vistra Operations Co. LLC                                                         | CUSIP: 92840VAU6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27162.35     | 0.01%             | 2034-12-30      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Entergy Arkansas LLC                                | Entergy Arkansas LLC                                                              | CUSIP: 29366MAH1<br>LEI: 549300A0I5ONUIFMLP35 | Long             | DBT              | CORP              | US        |    146000 | PA      | $143198.69    | 0.03%             | 2036-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Loar Holdings, Inc.                                 | Loar Holdings, Inc.                                                               | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3262 | NS      | $186879.98    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group plc                                        | 3i Group plc                                                                      | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |      9715 | NS      | $316621.63    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC            | Avis Budget Rental Car Funding AESOP LLC, Series 2024-1A, Class A                 | CUSIP: 05377RHY3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102196.81    | 0.02%             | 2030-06-20      | Fixed         | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                        | Drive Auto Receivables Trust, Series 2024-1, Class B                              | CUSIP: 26208WAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35228 | PA      | $35331.38     | 0.01%             | 2029-01-16      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| Swiss Franc                                         | Swiss Franc                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CH        |       607 | OU      | $758.65       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Santander Drive Auto Receivables Trust              | Santander Drive Auto Receivables Trust, Series 2023-4, Class B                    | CUSIP: 802927AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    149192 | PA      | $150176.60    | 0.03%             | 2028-12-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| Warby Parker, Inc.                                  | Warby Parker, Inc., Class A                                                       | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3520 | NS      | $74166.40     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-315.73      | -0.00%            |  |  |  | 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        |     39017 | PA      | $38901.67     | 0.01%             | 2027-09-15      | Fixed         | 1.99%                 | Yes           |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128334S6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    165000 | PA      | $132921.58    | 0.03%             | 2031-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy, Inc.                               | Cheniere Energy, Inc.                                                             | CUSIP: 16411RAN9<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |    123000 | PA      | $126631.79    | 0.03%             | 2034-04-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-80.96       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Simpson Manufacturing Co., Inc.                     | Simpson Manufacturing Co., Inc.                                                   | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |       637 | NS      | $109321.94    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $507.88       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1323.14     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ASM International NV                                | ASM International NV                                                              | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Long             | EC               | CORP              | NL        |       326 | NS      | $247092.61    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128337P9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    160000 | PA      | $130387.51    | 0.03%             | 2031-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4295.27     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Element Solutions, Inc.                             | Element Solutions, Inc.                                                           | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |      6832 | NS      | $233244.48    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanwha Aerospace Co. Ltd.                           | Hanwha Aerospace Co. Ltd.                                                         | CUSIP: N/A<br>LEI: 9884001NSUA8FQKQWR25       | Long             | EC               | CORP              | KR        |       691 | NS      | $589220.32    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Colombia                                | Republic of Colombia                                                              | CUSIP: 195325DZ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    250000 | PA      | $208500.00    | 0.04%             | 2032-04-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| RELX plc                                            | RELX plc                                                                          | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |     12347 | NS      | $411197.88    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                                          | Legrand SA                                                                        | CUSIP: N/A<br>LEI: 969500XXRPGD7HCAFA90       | Long             | EC               | CORP              | FR        |      4988 | NS      | $774908.85    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Chinese Renminbi (Yuan)                             | Chinese Renminbi (Yuan)                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CN        |         5 | OU      | $0.71         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp.                                     | TD SYNNEX Corp.                                                                   | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |       785 | NS      | $132437.35    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $943.06       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $69.02        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                      | Carvana Auto Receivables Trust, Series 2022-P3, Class A3                          | CUSIP: 14686MAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2933 | PA      | $2933.29      | 0.00%             | 2027-11-10      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                              | Encompass Health Corp.                                                            | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |      1592 | NS      | $153994.16    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON, Inc.                                          | AAON, Inc.                                                                        | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1259 | NS      | $104182.25    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                     | Goldman Sachs Group, Inc. (The)                                                   | CUSIP: 38145GAS9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29330.17     | 0.01%             | 2037-01-21      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140QMCQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    258224 | PA      | $229223.00    | 0.05%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Columbia Sportswear Co.                             | Columbia Sportswear Co.                                                           | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |      1860 | NS      | $101946.60    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3133KMR31<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    363273 | PA      | $311995.27    | 0.07%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Western Funding Auto Loan Trust                     | Western Funding Auto Loan Trust, Series 2025-1, Class C                           | CUSIP: 958250AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    106000 | PA      | $106961.47    | 0.02%             | 2035-11-15      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-28046.03    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Nationwide Building Society                         | Nationwide Building Society                                                       | CUSIP: 63861VAN7<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $200565.15    | 0.04%             | 2036-07-14      | Variable      | 5.54%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $421.88       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AutoZone, Inc.                                      | AutoZone, Inc.                                                                    | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       395 | NS      | $1334223.10   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Westgate Resorts LLC                                | Westgate Resorts LLC, Series 2022-1A, Class A                                     | CUSIP: 96034JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12282 | PA      | $12237.65     | 0.00%             | 2036-08-20      | Fixed         | 1.79%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $8.51         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                 | Societe Generale SA                                                               | CUSIP: 83368RCF7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $207784.80    | 0.04%             | 2033-04-13      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $119.54       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1364.30     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LFVK7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    398949 | PA      | $363652.57    | 0.08%             | 2032-03-01      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| United Airlines Pass-Through Trust                  | United Airlines Pass-Through Trust, Series 2016-2, Class AA                       | CUSIP: 90932EAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    290402 | PA      | $280123.77    | 0.06%             | 2028-10-07      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares, Inc.                         | Huntington Bancshares, Inc.                                                       | CUSIP: 446150BE3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    215000 | PA      | $218258.42    | 0.05%             | 2031-01-15      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| Darden Restaurants, Inc.                            | Darden Restaurants, Inc.                                                          | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |       395 | NS      | $77435.80     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                      | Morgan Stanley                                                                    | CUSIP: 61772BAC7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    100000 | PA      | $75389.88     | 0.02%             | 2042-04-22      | Variable      | 3.22%                 | No            |                  2 | On Loan: No      |
| Novatek PJSC                                        | Novatek PJSC                                                                      | CUSIP: N/A<br>LEI: 2138008R6GCRVBDFA581       | Long             | EC               | CORP              | RU        |       979 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Nissan Auto Lease Trust                             | Nissan Auto Lease Trust, Series 2025-A, Class A3                                  | CUSIP: 65479XAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    198000 | PA      | $199336.48    | 0.04%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $266.83       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140NXF73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    492161 | PA      | $492565.93    | 0.10%             | 2032-01-01      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CJJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $510351.56    | 0.11%             | 2033-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                     | Moran Foods LLC, 2nd Lien PIK Term Loan                                           | CUSIP: 61647DAU6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     61580 | PA      | $0.00         | 0.00%             | 2026-06-30      | Variable      | 5.67%                 | No            |                  3 | On Loan: No      |
| Tencent Holdings Ltd.                               | Tencent Holdings Ltd.                                                             | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |     21500 | NS      | $1356056.19   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Intact Financial Corp.                              | Intact Financial Corp.                                                            | CUSIP: 45823T106<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |      2100 | NS      | $380539.14    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software, Inc.                 | Take-Two Interactive Software, Inc.                                               | CUSIP: 874054AH2<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    263000 | PA      | $250843.17    | 0.05%             | 2032-04-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128337Q7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    165000 | PA      | $131452.54    | 0.03%             | 2031-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                     | Live Nation Entertainment, Inc.                                                   | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |       764 | NS      | $116517.64    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                                      | Broadcom, Inc.                                                                    | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     12555 | NS      | $3885898.05   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Dollar                                     | Canadian Dollar                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CA        |      3457 | OU      | $2485.08      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Auto Receivables Trust                      | Hyundai Auto Receivables Trust, Series 2023-B, Class A3                           | CUSIP: 44933XAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     33065 | PA      | $33224.48     | 0.01%             | 2028-04-17      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing III LLC                     | Hertz Vehicle Financing LLC, Series 2025-3A, Class A                              | CUSIP: 42806MDB2<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |    240000 | PA      | $242513.52    | 0.05%             | 2029-12-26      | Fixed         | 5.06%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-98810.93    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1038.46     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                 | Societe Generale SA                                                               | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | EC               | CORP              | FR        |      2919 | NS      | $213136.35    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                | Meta Platforms, Inc.                                                              | CUSIP: 30303M8V7<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     40000 | PA      | $36230.27     | 0.01%             | 2054-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| United Mexican States                               | United Mexican States                                                             | CUSIP: 91087BAN0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    600000 | PA      | $357900.00    | 0.07%             | 2061-05-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| Andersen Group, Inc.                                | Andersen Group, Inc., Class A                                                     | CUSIP: 033853102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4040 | NS      | $109888.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1417.74      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Electric Industries Ltd.                   | Sumitomo Electric Industries Ltd.                                                 | CUSIP: N/A<br>LEI: 5493005SP87FL5TOS202       | Long             | EC               | CORP              | JP        |     13200 | NS      | $750025.20    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-125.49      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NiSource, Inc.                                      | NiSource, Inc.                                                                    | CUSIP: 65473QBF9<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    246000 | PA      | $197554.79    | 0.04%             | 2047-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-9281.42     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Virginia Power Fuel Securitization LLC              | Virginia Power Fuel Securitization LLC, Series A-2                                | CUSIP: 92808VAB8<br>LEI: 254900BELJ95ONW6U791 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166779.48    | 0.03%             | 2031-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128334Z0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    234000 | PA      | $159364.86    | 0.03%             | 2035-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Euro-Bund                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |      -193 | NC      | $422126.17    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Active Value ETF                           | JPMorgan Active Value ETF                                                         | CUSIP: 46641Q167<br>LEI: 549300WXH93S1D430S16 | Long             |  | RF                | US        |    117609 | NS      | $8438445.75   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Appalachian Power Co.                               | Appalachian Power Co., Series AA                                                  | CUSIP: 037735CZ8<br>LEI: 3SCHO1ABYYIG382BEI70 | Long             | DBT              | CORP              | US        |    210000 | PA      | $190986.20    | 0.04%             | 2031-04-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA II, 30 Year                                                                  | CUSIP: 36179XBR6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2853204 | PA      | $2551931.59   | 0.53%             | 2052-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                            | Cooperatieve Rabobank UA                                                          | CUSIP: 74977RDL5<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $245914.64    | 0.05%             | 2027-12-15      | Variable      | 1.98%                 | Yes           |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                | Meta Platforms, Inc., Class A                                                     | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      7554 | NS      | $4321870.02   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below, Inc.                                    | Five Below, Inc.                                                                  | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |       248 | NS      | $56663.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications, Inc.                        | Verizon Communications, Inc.                                                      | CUSIP: 92343VGW8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26465.43     | 0.01%             | 2054-02-23      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Medtronic plc                                       | Medtronic plc                                                                     | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |     13691 | NS      | $1186325.15   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                       | Koninklijke Ahold Delhaize NV                                                     | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |      8179 | NS      | $380889.46    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Portfolio LP                                  | Essex Portfolio LP                                                                | CUSIP: 29717PBA4<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              | CORP              | US        |    241000 | PA      | $244023.73    | 0.05%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                         | Capital One Financial Corp.                                                       | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      1852 | NS      | $337860.36    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2029.83     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BWX Technologies, Inc.                              | BWX Technologies, Inc.                                                            | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      1190 | NS      | $243343.10    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3624.77      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Carrier Global Corp.                                | Carrier Global Corp.                                                              | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      2202 | NS      | $123994.62    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| elf Beauty, Inc.                                    | elf Beauty, Inc.                                                                  | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |      3211 | NS      | $194618.71    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                               | Bank of America Corp.                                                             | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    510000 | PA      | $505739.15    | 0.11%             | 2027-07-22      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-54074.40    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                             | CarMax Auto Owner Trust, Series 2024-1, Class A3                                  | CUSIP: 14318WAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     41016 | PA      | $41244.08     | 0.01%             | 2028-10-16      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Yum China Holdings, Inc.                            | Yum China Holdings, Inc.                                                          | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |     10490 | NS      | $511702.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                                 | Synchrony Financial                                                               | CUSIP: 87165BAV5<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50802.24     | 0.01%             | 2030-08-02      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-535.51      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HubSpot, Inc.                                       | HubSpot, Inc.                                                                     | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |       365 | NS      | $89096.50     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SFS Auto Receivables Securitization Trust           | SFS Auto Receivables Securitization Trust, Series 2024-1A, Class A3               | CUSIP: 78435VAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     16145 | PA      | $16221.88     | 0.00%             | 2029-05-21      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| ASML Holding NV                                     | ASML Holding NV                                                                   | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |      2321 | NS      | $3086365.19   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Leidos, Inc.                                        | Leidos, Inc.                                                                      | CUSIP: 52532XAF2<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98383.51     | 0.02%             | 2030-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                     | Moran Foods LLC, 1st Lien Super Senior Delayed Draw Term Loan                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      2978 | PA      | $2829.03      | 0.00%             | 2026-06-30      | Variable      | 15.23%                | No            |                  3 | On Loan: No      |
| Aon plc                                             | Aon plc, Class A                                                                  | CUSIP: N/A<br>LEI: 635400FALWQYX5E6QC64       | Long             | EC               | CORP              | IE        |       976 | NS      | $315033.28    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International, Inc.                   | Philip Morris International, Inc.                                                 | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      3022 | NS      | $499657.48    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Figure Technology Solutions, Inc.                   | Figure Technology Solutions, Inc., Class A                                        | CUSIP: 349381103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2128 | NS      | $72245.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-10.16       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                   | Enterprise Products Operating LLC                                                 | CUSIP: 29379VCH4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    255000 | PA      | $245292.09    | 0.05%             | 2055-02-16      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Sage Group plc (The)                                | Sage Group plc (The)                                                              | CUSIP: N/A<br>LEI: 2138005RN5XYLTF8G138       | Long             | EC               | CORP              | GB        |     17067 | NS      | $191242.44    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | U.S. Treasury Long Bond                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         7 | NC      | $-26918.08    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale SA                                 | Societe Generale SA                                                               | CUSIP: 83368RBS0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $320409.55    | 0.07%             | 2034-01-10      | Variable      | 6.69%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $60.89        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                  | Energy Transfer LP                                                                | CUSIP: 292480AM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    271000 | PA      | $267390.44    | 0.06%             | 2029-09-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2694.26      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-185.98      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                        | UBS Group AG                                                                      | CUSIP: 225401BT4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $195348.82    | 0.04%             | 2037-08-10      | Variable      | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Chemed Corp.                                        | Chemed Corp.                                                                      | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |       321 | NS      | $121254.54    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals, Inc.                       | Alnylam Pharmaceuticals, Inc.                                                     | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |       647 | NS      | $214072.89    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4038.45      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd.                             | DBS Group Holdings Ltd.                                                           | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |     35770 | NS      | $1591769.59   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                       | Al Rajhi Bank                                                                     | CUSIP: N/A<br>LEI: 558600BQZS4Y1DTU8589       | Long             | EC               | CORP              | SA        |     17632 | NS      | $502630.33    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Janus International Group, Inc.                     | Janus International Group, Inc.                                                   | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17982 | NS      | $92607.30     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-588.70      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1700.80      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ITOCHU Corp.                                        | ITOCHU Corp.                                                                      | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |     47100 | NS      | $599135.15    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1769.52     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                              | Keurig Dr Pepper, Inc.                                                            | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      1689 | NS      | $44471.37     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2025-4A, Class C                      | CUSIP: 30167KAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155000 | PA      | $154213.44    | 0.03%             | 2031-06-16      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Arch Capital Group Ltd.                             | Arch Capital Group Ltd.                                                           | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Long             | EC               | CORP              | BM        |       884 | NS      | $84855.16     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy, Inc.                                       | GoDaddy, Inc., Class A                                                            | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |       799 | NS      | $66053.33     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy, Inc.                                   | Xcel Energy, Inc.                                                                 | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      2771 | NS      | $220128.24    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | MSCI EAFE Index                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        68 | NC      | $-81748.96    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-9599.38     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Capital America                             | Hyundai Capital America                                                           | CUSIP: 44891ADC8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    215000 | PA      | $218368.71    | 0.05%             | 2029-06-24      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-679.12      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SpringCastle America Funding LLC                    | SpringCastle America Funding LLC, Series 2020-AA, Class A                         | CUSIP: 85022WAP9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     32076 | PA      | $30220.61     | 0.01%             | 2037-09-25      | Fixed         | 1.97%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1247.43      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust       | Bridgecrest Lending Auto Securitization Trust, Series 2026-1, Class C             | CUSIP: 107927AE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $59497.19     | 0.01%             | 2031-11-17      | Fixed         | 4.44%                 | 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        |     12400 | NS      | $625555.18    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | XAK Technology Equity Index                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        18 | NC      | $-235296.36   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys, Inc.                                      | Synopsys, Inc.                                                                    | CUSIP: 871607AE7<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |     34000 | PA      | $34065.01     | 0.01%             | 2035-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140Q0MV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    255000 | PA      | $252417.28    | 0.05%             | 2032-10-01      | Fixed         | 4.23%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140QMJL9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    430656 | PA      | $381330.61    | 0.08%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Jersey Central Power & Light Co.                    | Jersey Central Power & Light Co.                                                  | CUSIP: 476556DD4<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |    300000 | PA      | $269499.17    | 0.06%             | 2032-03-01      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Ulta Beauty, Inc.                                   | Ulta Beauty, Inc.                                                                 | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |       400 | NS      | $209084.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Drive Auto Receivables Trust                        | Drive Auto Receivables Trust, Series 2025-2, Class C                              | CUSIP: 262103AF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99544.90     | 0.02%             | 2032-09-15      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| Public Service Enterprise Group, Inc.               | Public Service Enterprise Group, Inc.                                             | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |       904 | NS      | $73178.80     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Solventum Corp.                                     | Solventum Corp.                                                                   | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51115.53     | 0.01%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3142GTGY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    434022 | PA      | $438608.63    | 0.09%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $54.25        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-410.17      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-48.65       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Eagle Materials, Inc.                               | Eagle Materials, Inc.                                                             | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |       679 | NS      | $128636.55    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140FXTC6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    600422 | PA      | $493719.46    | 0.10%             | 2061-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Blackstone, Inc.                                    | Blackstone, Inc.                                                                  | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      2966 | NS      | $341060.34    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | S&P 500 E-Mini Index                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       160 | NC      | $-938406.50   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC            | Avis Budget Rental Car Funding AESOP LLC, Series 2024-2A, Class A                 | CUSIP: 05377RJG0<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100878.18    | 0.02%             | 2028-10-20      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Netflix, Inc.                                       | Netflix, Inc.                                                                     | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      5862 | NS      | $563631.30    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Dollar                                    | Hong Kong Dollar                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | HK        |         0 | OU      | $0.04         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128335B2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    252000 | PA      | $162930.08    | 0.03%             | 2036-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust       | Bridgecrest Lending Auto Securitization Trust, Series 2025-3, Class C             | CUSIP: 107920AE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     70000 | PA      | $70102.39     | 0.01%             | 2031-05-15      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $99088.68     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $614.72       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Israeli Shekel                                      | Israeli Shekel                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | IL        |      1076 | OU      | $342.32       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp.                                  | Devon Energy Corp.                                                                | CUSIP: 25179MBH5<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |     73000 | PA      | $68603.20     | 0.01%             | 2054-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                            | Arthur J Gallagher & Co.                                                          | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      2590 | NS      | $560942.20    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3133AMS98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    262207 | PA      | $233083.57    | 0.05%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                          | US Bancorp                                                                        | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     13219 | NS      | $687520.19    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Auto Owner Trust                                 | DT Auto Owner Trust, Series 2023-1A, Class C                                      | CUSIP: 23346KAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43135 | PA      | $43172.72     | 0.01%             | 2028-10-16      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-5.45        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                   | Wells Fargo & Co.                                                                 | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     25921 | NS      | $2063570.81   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Utz Brands, Inc.                                    | Utz Brands, Inc.                                                                  | CUSIP: 918090101<br>LEI: 5299009BHBU2NH5HRN16 | Long             | EC               | CORP              | US        |     10750 | NS      | $85140.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Prime Money Market Fund                    | JPMorgan Prime Money Market Fund, Class IM                                        | CUSIP: 46637K844<br>LEI: 549300YD7H8SEEU7VG41 | Long             | STIV             | RF                | US        |   7073810 | NS      | $7074516.97   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Operating Partnership LP                    | Brixmor Operating Partnership LP                                                  | CUSIP: 11120VAH6<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |    258000 | PA      | $254497.94    | 0.05%             | 2029-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SBM Offshore NV                                     | SBM Offshore NV                                                                   | CUSIP: N/A<br>LEI: 549300RDGCRYZ5QE6513       | Long             | EC               | CORP              | NL        |      4070 | NS      | $162302.67    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| WSP Global, Inc.                                    | WSP Global, Inc.                                                                  | CUSIP: 92938W202<br>LEI: 549300IQ87LU6X6ERQ78 | Long             | EC               | CORP              | CA        |      2566 | NS      | $399352.31    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments, Inc.                               | Global Payments, Inc.                                                             | CUSIP: 37940XAD4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    283000 | PA      | $258673.30    | 0.05%             | 2030-05-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1548.12      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nasdaq, Inc.                                        | Nasdaq, Inc.                                                                      | CUSIP: 63111XAJ0<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27774.40     | 0.01%             | 2034-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust              | Santander Drive Auto Receivables Trust, Series 2024-3, Class C                    | CUSIP: 80287LAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    196000 | PA      | $199181.69    | 0.04%             | 2030-08-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-45128.47    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-196.96      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                 | Cisco Systems, Inc.                                                               | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      1540 | NS      | $119488.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Santander Drive Auto Receivables Trust              | Santander Drive Auto Receivables Trust, Series 2026-1, Class C                    | CUSIP: 80288FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $49350.05     | 0.01%             | 2032-04-15      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                | Mitsubishi UFJ Financial Group, Inc.                                              | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |     87900 | NS      | $1488492.88   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $190.31       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-6563.11     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Nordex SE                                           | Nordex SE                                                                         | CUSIP: N/A<br>LEI: 529900HVDYCUWVD0OE76       | Long             | EC               | CORP              | DE        |      4756 | NS      | $257739.36    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Expedia Group, Inc.                                 | Expedia Group, Inc.                                                               | CUSIP: 30212PAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    204000 | PA      | $192767.74    | 0.04%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CPS4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4318000 | PA      | $4284771.65   | 0.90%             | 2027-12-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LFA38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    600000 | PA      | $527173.22    | 0.11%             | 2032-01-01      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| GMK Norilskiy Nickel PAO                            | GMK Norilskiy Nickel PAO                                                          | CUSIP: 55315J102<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| PepsiCo, Inc.                                       | PepsiCo, Inc.                                                                     | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      4785 | NS      | $743062.65    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $300.92       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                           | Vistra Operations Co. LLC                                                         | CUSIP: 92840VAS1<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    146000 | PA      | $150083.18    | 0.03%             | 2034-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Fifth Third Bancorp                                 | Fifth Third Bancorp                                                               | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |      2592 | NS      | $120424.32    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup, Inc.                                    | AptarGroup, Inc.                                                                  | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |       680 | NS      | $85693.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Asics Corp.                                         | Asics Corp.                                                                       | CUSIP: N/A<br>LEI: 3538002LJMRZ83SU0B85       | Long             | EC               | CORP              | JP        |     12400 | NS      | $333375.43    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Galderma Group AG                                   | Galderma Group AG                                                                 | CUSIP: N/A<br>LEI: 89450001OK6O8ELQ4584       | Long             | EC               | CORP              | CH        |      1283 | NS      | $252152.88    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Casey's General Stores, Inc.                        | Casey's General Stores, Inc.                                                      | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |       311 | NS      | $226364.46    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-33767.83    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-665.58      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group plc                                   | NatWest Group plc                                                                 | CUSIP: 639057AC2<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $198784.59    | 0.04%             | 2027-06-14      | Variable      | 1.64%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                | Royal Bank of Canada                                                              | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |      5651 | NS      | $913519.43    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2022-2A, Class D                      | CUSIP: 30166QAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95344 | PA      | $95190.07     | 0.02%             | 2028-07-17      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $6001.23      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cigna Group (The)                                   | Cigna Group (The)                                                                 | CUSIP: 125523CJ7<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |     21000 | PA      | $16269.11     | 0.00%             | 2040-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| JPMorgan BetaBuilders Japan ETF                     | JPMorgan BetaBuilders Japan ETF                                                   | CUSIP: 46641Q217<br>LEI: 54930031HWFFLQV7A679 | Long             |  | RF                | US        |    108735 | NS      | $7492928.85   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ServisFirst Bancshares, Inc.                        | ServisFirst Bancshares, Inc.                                                      | CUSIP: 81768T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1630 | NS      | $118712.90    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Czech Repub. Kronas                                 | Czech Repub. Kronas                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CZ        |         2 | OU      | $0.08         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-38284.83    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| StepStone Group, Inc.                               | StepStone Group, Inc., Class A                                                    | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3797 | NS      | $181192.84    | 0.04%             |  |  |  | No            |                  1 | 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        |         4 | PA      | $2.26         | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $742.26       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 912834LB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    153000 | PA      | $69339.71     | 0.01%             | 2042-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2804.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JB Hunt Transport Services, Inc.                    | JB Hunt Transport Services, Inc.                                                  | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |       675 | NS      | $143032.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway, Inc.                            | Berkshire Hathaway, Inc., Class B                                                 | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      1451 | NS      | $695319.20    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                              | Truist Financial Corp.                                                            | CUSIP: 89788MAV4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145290.84    | 0.03%             | 2036-10-23      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| NNN REIT, Inc.                                      | NNN REIT, Inc.                                                                    | CUSIP: 637417AU0<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              | CORP              | US        |    123000 | PA      | $122256.85    | 0.03%             | 2031-02-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                      | Morgan Stanley                                                                    | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      7229 | NS      | $1189676.53   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                        | Oracle Corp.                                                                      | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    215000 | PA      | $204754.80    | 0.04%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3174.83      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-27204.30    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan High Yield Fund                            | JPMorgan High Yield Fund, Class R6                                                | CUSIP: 4812C0126<br>LEI: 15QB5UY3VV3GNSMNPX63 | Long             |  | RF                | US        |   2312178 | NS      | $15006033.63  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries, Inc.                                | PPG Industries, Inc.                                                              | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |       771 | NS      | $82404.48     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1593.93      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                | Charter Communications Operating LLC                                              | CUSIP: 161175BJ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     81000 | PA      | $79584.14     | 0.02%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Corpay, Inc.                                        | Corpay, Inc.                                                                      | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |       629 | NS      | $183032.71    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.                               | Quanta Services, Inc.                                                             | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |       688 | NS      | $377725.76    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | S&P E-Mini Communication Services Index                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        33 | NC      | $-149804.16   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety, Inc.                                    | MSA Safety, Inc.                                                                  | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |      1274 | NS      | $208872.30    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-503.32      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ITC Holdings Corp.                                  | ITC Holdings Corp.                                                                | CUSIP: 465685AR6<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |     42000 | PA      | $42197.54     | 0.01%             | 2027-09-22      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                    | Deutsche Bank AG                                                                  | CUSIP: 251526CK3<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    150000 | PA      | $135822.30    | 0.03%             | 2032-05-28      | Variable      | 3.04%                 | No            |                  2 | On Loan: No      |
| Evercore, Inc.                                      | Evercore, Inc., Class A                                                           | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |       660 | NS      | $197016.60    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust           | FHLMC Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT                | CUSIP: 35563PCM9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    310825 | PA      | $284941.91    | 0.06%             | 2057-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $752.47       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co. LP                         | Penske Truck Leasing Co. LP                                                       | CUSIP: 709599BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     61000 | PA      | $61045.05     | 0.01%             | 2026-05-24      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| MVW LLC                                             | MVW LLC, Series 2024-1A, Class A                                                  | CUSIP: 62847RAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     96110 | PA      | $97037.58     | 0.02%             | 2043-02-20      | Fixed         | 5.32%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | U.S. Treasury 10 Year Ultra Note                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        24 | NC      | $-50288.88    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LFXX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    400000 | PA      | $363502.71    | 0.08%             | 2032-04-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $394.30       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-7302.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                   | Wells Fargo & Co.                                                                 | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119010.05    | 0.02%             | 2028-03-24      | Variable      | 3.53%                 | No            |                  2 | On Loan: No      |
| Ciena Corp.                                         | Ciena Corp.                                                                       | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |       754 | NS      | $292725.42    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK, Inc.                                         | ONEOK, Inc.                                                                       | CUSIP: 682680CF8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91232.64     | 0.02%             | 2054-11-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-146132.20   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3132DM3S2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    352144 | PA      | $311633.21    | 0.07%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.                        | Vertex Pharmaceuticals, Inc.                                                      | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |       754 | NS      | $336691.16    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-15829.87    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                 | Post Holdings, Inc.                                                               | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |      1582 | NS      | $156396.52    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos., Inc.                                   | Lowe's Cos., Inc.                                                                 | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      8742 | NS      | $2065559.76   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| NGPL PipeCo LLC                                     | NGPL PipeCo LLC                                                                   | CUSIP: 62928CAA0<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |    225000 | PA      | $206773.38    | 0.04%             | 2031-07-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Analog Devices, Inc.                                | Analog Devices, Inc.                                                              | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |       511 | NS      | $162569.54    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Santander Drive Auto Receivables Trust              | Santander Drive Auto Receivables Trust, Series 2023-5, Class B                    | CUSIP: 80286PAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    202000 | PA      | $203863.55    | 0.04%             | 2029-12-17      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $23104.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-824.62      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| South Korea Won                                     | South Korea Won                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | KR        |       227 | OU      | $0.15         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-267.35      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-635.44      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Alliance Laundry Holdings, Inc.                     | Alliance Laundry Holdings, Inc.                                                   | CUSIP: 01862Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4631 | NS      | $96046.94     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $876.46       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2339.68      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                          | Allianz SE (Registered)                                                           | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |       925 | NS      | $390644.73    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Bonds                                                               | CUSIP: 912810SP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1337000 | PA      | $653772.12    | 0.14%             | 2050-08-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Manhattan Associates, Inc.                          | Manhattan Associates, Inc.                                                        | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |       659 | NS      | $87726.08     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Veros Auto Receivables Trust                        | Veros Auto Receivables Trust, Series 2026-1, Class B                              | CUSIP: 92511CAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15000 | PA      | $14991.30     | 0.00%             | 2029-05-15      | Fixed         | 4.84%                 | Yes           |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                        | Drive Auto Receivables Trust, Series 2025-1, Class C                              | CUSIP: 262102AE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $50386.80     | 0.01%             | 2032-09-15      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-900.96      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $409.87       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| WSFS Financial Corp.                                | WSFS Financial Corp.                                                              | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |      2050 | NS      | $134193.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-272.69      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software, Inc.                 | Take-Two Interactive Software, Inc.                                               | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      1157 | NS      | $228507.50    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128335A4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    411000 | PA      | $272857.27    | 0.06%             | 2035-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Itausa SA                                           | Itausa SA (Preference)                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    178759 | NS      | $480385.59    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Interstate Power and Light Co.                      | Interstate Power and Light Co.                                                    | CUSIP: 461070AV6<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27550.66     | 0.01%             | 2034-09-30      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Henry Schein, Inc.                                  | Henry Schein, Inc.                                                                | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |      1932 | NS      | $142388.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems, Inc.                          | Allegro MicroSystems, Inc.                                                        | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4396 | NS      | $138605.88    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $29.65        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2023-1A, Class D                      | CUSIP: 30168BAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     28767 | PA      | $29074.71     | 0.01%             | 2029-06-15      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| Chevron Corp.                                       | Chevron Corp.                                                                     | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1242 | NS      | $256969.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $5878.22      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cigna Group (The)                                   | Cigna Group (The)                                                                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |       907 | NS      | $241942.25    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-27314.86    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Bonds                                                               | CUSIP: 912810RC4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1300000 | PA      | $1110230.47   | 0.23%             | 2043-08-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                          | Progress Residential Trust, Series 2023-SFR1, Class A                             | CUSIP: 74334FAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    179097 | PA      | $177600.88    | 0.04%             | 2040-03-17      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Ameren Corp.                                        | Ameren Corp.                                                                      | CUSIP: 023608AQ5<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    204000 | PA      | $207217.67    | 0.04%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                    | Boeing Co. (The)                                                                  | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    258000 | PA      | $262318.92    | 0.05%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                      | Southern California Edison Co., Series C                                          | CUSIP: 842400GK3<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    443000 | PA      | $331561.66    | 0.07%             | 2048-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Novartis Capital Corp.                              | Novartis Capital Corp.                                                            | CUSIP: 66989HBL1<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25178.35     | 0.01%             | 2056-03-18      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                  | Banco Santander SA                                                                | CUSIP: 05971KAG4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $358300.44    | 0.07%             | 2030-12-03      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Mohawk Industries, Inc.                             | Mohawk Industries, Inc.                                                           | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |       844 | NS      | $83100.24     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold GL Holdings LLC                            | Safehold GL Holdings LLC                                                          | CUSIP: 78646UAB5<br>LEI: 54930012UY5Z4Q8NL108 | Long             | DBT              | CORP              | US        |    123000 | PA      | $110154.63    | 0.02%             | 2032-01-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                               | Bank of America Corp.                                                             | CUSIP: 06051GMA4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    346000 | PA      | $353196.34    | 0.07%             | 2035-01-23      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Planet Fitness, Inc.                                | Planet Fitness, Inc., Class A                                                     | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |      2331 | NS      | $173379.78    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury Bonds                                                               | CUSIP: 912810TX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    800000 | PA      | $716625.00    | 0.15%             | 2054-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                     | CHL Mortgage Pass-Through Trust, Series 2006-21, Class A14                        | CUSIP: 12543PAP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         2 | PA      | $0.81         | 0.00%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1026.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                          | Constellation Brands, Inc.                                                        | CUSIP: 21036PBF4<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    283000 | PA      | $264814.70    | 0.06%             | 2030-05-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-6.69        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific, Inc.                      | Thermo Fisher Scientific, Inc.                                                    | CUSIP: 883556DJ8<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19857.99     | 0.00%             | 2036-02-12      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3133A2PS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    127504 | PA      | $113463.92    | 0.02%             | 2050-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-403.58      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CPS Auto Receivables Trust                          | CPS Auto Receivables Trust, Series 2023-A, Class C                                | CUSIP: 12664LAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6547 | PA      | $6550.14      | 0.00%             | 2029-04-16      | Fixed         | 5.54%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $28.91        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Twilio, Inc.                                        | Twilio, Inc., Class A                                                             | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |       949 | NS      | $119403.18    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Australian Dollar                                   | Australian Dollar                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | AU        |       865 | OU      | $597.08       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4199.59     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ConocoPhillips                                      | ConocoPhillips                                                                    | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      5521 | NS      | $728772.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares, Inc.                     | First Citizens BancShares, Inc., Class A                                          | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |        56 | NS      | $105540.96    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sberbank of Russia PJSC                             | Sberbank of Russia PJSC                                                           | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               | CORP              | RU        |     17972 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-3292.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Kroger Co. (The)                                    | Kroger Co. (The)                                                                  | CUSIP: 501044DX6<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92719.13     | 0.02%             | 2064-09-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Rosneft Oil Co. PJSC                                | Rosneft Oil Co. PJSC                                                              | CUSIP: N/A<br>LEI: 253400JT3MQWNDKMJE44       | Long             | EC               | CORP              | RU        |      5259 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Glencore Funding LLC                                | Glencore Funding LLC                                                              | CUSIP: 378272BG2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    369000 | PA      | $328838.42    | 0.07%             | 2031-09-23      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $687.90       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Long Gilt                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |       233 | NC      | $-1498394.00  | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty LP                                    | Kilroy Realty LP                                                                  | CUSIP: 49427RAR3<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    134000 | PA      | $106434.99    | 0.02%             | 2033-11-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| E.ON SE                                             | E.ON SE                                                                           | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |     12430 | NS      | $272235.26    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Indian Rupee                                        | Indian Rupee                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | IN        |     87230 | OU      | $919.68       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $155605.05    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Core & Main, Inc.                                   | Core & Main, Inc., Class A                                                        | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3684 | NS      | $181989.60    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp. (The)                          | Charles Schwab Corp. (The)                                                        | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     10752 | NS      | $1010472.96   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.               | NextEra Energy Capital Holdings, Inc.                                             | CUSIP: 65339KCV0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    140000 | PA      | $131603.28    | 0.03%             | 2054-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Gazprom PJSC                                        | Gazprom PJSC                                                                      | CUSIP: N/A<br>LEI: 213800FD9J2IHTA7YX78       | Long             | EC               | CORP              | RU        |     27966 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Cullen/Frost Bankers, Inc.                          | Cullen/Frost Bankers, Inc.                                                        | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      1336 | NS      | $183138.88    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell plc                                           | Shell plc                                                                         | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |     82291 | NS      | $3811311.15   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Somnigroup International, Inc.                      | Somnigroup International, Inc.                                                    | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |      1029 | NS      | $76063.68     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140XNGY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    410128 | PA      | $352636.46    | 0.07%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                      | Wyndham Hotels & Resorts, Inc.                                                    | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |      2060 | NS      | $167333.80    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-15248.38    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $13001.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Duke Energy Corp.                                   | Duke Energy Corp.                                                                 | CUSIP: 26441CAT2<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    443000 | PA      | $326893.82    | 0.07%             | 2046-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $68.07        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2278.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Edwards Lifesciences Corp.                          | Edwards Lifesciences Corp.                                                        | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      3921 | NS      | $313993.68    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1021.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust           | FHLMC Seasoned Credit Risk Transfer Trust, Series 2017-4, Class M60C              | CUSIP: 35563PDB2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    240272 | PA      | $224510.10    | 0.05%             | 2057-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1046.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hayward Holdings, Inc.                              | Hayward Holdings, Inc.                                                            | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24021 | NS      | $321400.98    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Westgate Resorts LLC                                | Westgate Resorts LLC, Series 2024-1A, Class B                                     | CUSIP: 96034KAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    141932 | PA      | $143663.87    | 0.03%             | 2038-01-20      | Fixed         | 6.56%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                      | Morgan Stanley                                                                    | CUSIP: 61748UAF9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254881.20    | 0.05%             | 2036-01-18      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $8590.64      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Micron Technology, Inc.                             | Micron Technology, Inc.                                                           | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |       678 | NS      | $229055.52    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-668.05      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                   | Wells Fargo & Co.                                                                 | CUSIP: 95000U3B7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    423000 | PA      | $420836.81    | 0.09%             | 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        |     17000 | PA      | $17023.62     | 0.00%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Teledyne Technologies, Inc.                         | Teledyne Technologies, Inc.                                                       | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |       301 | NS      | $182108.01    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings, Inc.                         | Tokio Marine Holdings, Inc.                                                       | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |     14700 | NS      | $690032.31    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Finance, Inc.                            | Brookfield Finance, Inc.                                                          | CUSIP: 11271LAD4<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |    230000 | PA      | $231037.57    | 0.05%             | 2029-03-29      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3982.91      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bilfinger SE                                        | Bilfinger SE                                                                      | CUSIP: N/A<br>LEI: 529900H0HULEN2BZ4604       | Long             | EC               | CORP              | DE        |      1300 | NS      | $150527.29    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $832.21       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Progress Residential Trust                          | Progress Residential Trust, Series 2021-SFR8, Class E1                            | CUSIP: 74333TAJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    156000 | PA      | $153745.63    | 0.03%             | 2038-10-17      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4976.02     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Arkema SA                                           | Arkema SA                                                                         | CUSIP: N/A<br>LEI: 9695000EHMS84KKP2785       | Long             | EC               | CORP              | FR        |      2923 | NS      | $200686.88    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp.                                  | Toyota Motor Corp.                                                                | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |     23800 | NS      | $494738.91    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Cencora, Inc.                                       | Cencora, Inc.                                                                     | CUSIP: 03073EAY1<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31221.44     | 0.01%             | 2035-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust       | Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class C             | CUSIP: 107933AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    144000 | PA      | $144993.86    | 0.03%             | 2029-04-16      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd.                                      | HDFC Bank Ltd.                                                                    | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     34070 | NS      | $847661.60    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4710.12      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fiserv, Inc.                                        | Fiserv, Inc.                                                                      | CUSIP: 337738BK3<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    308000 | PA      | $311025.42    | 0.07%             | 2031-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Conagra Brands, Inc.                                | Conagra Brands, Inc.                                                              | CUSIP: 205887CE0<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    250000 | PA      | $212456.77    | 0.04%             | 2048-11-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140FXW73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    479517 | PA      | $457518.91    | 0.10%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MACOM Technology Solutions Holdings, Inc.           | MACOM Technology Solutions Holdings, Inc.                                         | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       846 | NS      | $187871.22    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co.                            | Bristol-Myers Squibb Co.                                                          | CUSIP: 110122DW5<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    322000 | PA      | $232159.08    | 0.05%             | 2052-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos., Inc.                         | Marsh & McLennan Cos., Inc.                                                       | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |       622 | NS      | $107885.90    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG                            | Infineon Technologies AG                                                          | CUSIP: N/A<br>LEI: TSI2PJM6EPETEQ4X1U25       | Long             | EC               | CORP              | DE        |     18130 | NS      | $822488.04    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| TJX Cos., Inc. (The)                                | TJX Cos., Inc. (The)                                                              | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      2226 | NS      | $355492.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2462.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1606.38     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-210.82      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AppLovin Corp.                                      | AppLovin Corp., Class A                                                           | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |       352 | NS      | $140096.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co. (The)                                    | Kroger Co. (The)                                                                  | CUSIP: 501044DW8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18573.57     | 0.00%             | 2054-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4200.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Puget Energy, Inc.                                  | Puget Energy, Inc.                                                                | CUSIP: 745310AM4<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |    141000 | PA      | $134387.84    | 0.03%             | 2028-06-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| WillScot Holdings Corp.                             | WillScot Holdings Corp.                                                           | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |     19324 | NS      | $335464.64    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140HSAH4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    597785 | PA      | $594003.20    | 0.12%             | 2028-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                 | Constellation Energy Generation LLC                                               | CUSIP: 210385AE0<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    219000 | PA      | $232417.20    | 0.05%             | 2053-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $244233.04    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ServiceNow, Inc.                                    | ServiceNow, Inc.                                                                  | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      4770 | NS      | $498703.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CoreVest American Finance Trust                     | CoreVest American Finance Trust, Series 2022-1, Class A                           | CUSIP: 21873EAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    138027 | PA      | $138440.08    | 0.03%             | 2055-06-17      | Variable      | 4.74%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-171.16      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-466.12      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-16113.60    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Accelerant Holdings                                 | Accelerant Holdings, Class A                                                      | CUSIP: N/A<br>LEI: 529900G48AUHCKJ6EU64       | Long             | EC               | CORP              | KY        |      4556 | NS      | $60868.16     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities, Inc.                         | AvalonBay Communities, Inc.                                                       | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |       390 | NS      | $63706.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPIE SA                                             | SPIE SA                                                                           | CUSIP: N/A<br>LEI: 969500TJNS5GSFWJ8X85       | Long             | EC               | CORP              | FR        |      4926 | NS      | $246672.58    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software, Inc.                 | Take-Two Interactive Software, Inc.                                               | CUSIP: 874054AG4<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |     36000 | PA      | $35675.45     | 0.01%             | 2027-04-14      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $201.74       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Digi International, Inc.                            | Digi International, Inc.                                                          | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |      1979 | NS      | $95387.80     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-6208.36     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Hungarian Forint                                    | Hungarian Forint                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | HU        |     10890 | OU      | $32.74        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                                 | General Mills, Inc.                                                               | CUSIP: 370334DA9<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    123000 | PA      | $123817.09    | 0.03%             | 2030-01-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Monarch Casino & Resort, Inc.                       | Monarch Casino & Resort, Inc.                                                     | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |      1059 | NS      | $101240.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | U.S. Treasury 2 Year Note                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        42 | NC      | $-16710.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3777.18      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| IQVIA Holdings, Inc.                                | IQVIA Holdings, Inc.                                                              | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |      1476 | NS      | $251717.04    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta, Inc.                                       | Novanta, Inc.                                                                     | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1575 | NS      | $186023.25    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AmeriCredit Automobile Receivables Trust            | AmeriCredit Automobile Receivables Trust, Series 2024-1, Class B                  | CUSIP: 023947AE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    180000 | PA      | $182539.31    | 0.04%             | 2029-06-18      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                          | Procter & Gamble Co. (The)                                                        | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      1136 | NS      | $164083.84    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                                       | UniCredit SpA                                                                     | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |     11973 | NS      | $858988.59    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $9530.04      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GLS Auto Select Receivables Trust                   | GLS Auto Select Receivables Trust, Series 2025-1A, Class A2                       | CUSIP: 36271FAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     49098 | PA      | $49284.66     | 0.01%             | 2030-04-15      | Fixed         | 4.71%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-29096.70    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                  | T-Mobile USA, Inc.                                                                | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    357000 | PA      | $347671.93    | 0.07%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                         | Toronto-Dominion Bank (The)                                                       | CUSIP: 89115KAM2<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $99038.01     | 0.02%             | 2031-01-13      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| Primo Brands Corp.                                  | Primo Brands Corp.                                                                | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |      7446 | NS      | $140208.18    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G Global Funding                                  | F&G Global Funding                                                                | CUSIP: 30321L2D3<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146257.32    | 0.03%             | 2027-04-11      | Fixed         | 2.30%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $249.72       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                | Royal Bank of Canada                                                              | CUSIP: 78017DAQ1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $98305.01     | 0.02%             | 2031-11-03      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| World Omni Automobile Lease Securitization Trust    | World Omni Automobile Lease Securitization Trust, Series 2025-A, Class A3         | CUSIP: 98164PAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     63000 | PA      | $63188.50     | 0.01%             | 2028-04-17      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140QDXH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    475757 | PA      | $401012.34    | 0.08%             | 2050-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-395.45      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Commerce Bancshares, Inc.                           | Commerce Bancshares, Inc.                                                         | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3239 | NS      | $159358.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | XAF Financial Index                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        32 | NC      | $14735.36     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Chartered plc                              | Standard Chartered plc                                                            | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | EC               | CORP              | GB        |     20798 | NS      | $433427.23    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                        | Oracle Corp.                                                                      | CUSIP: 68389XEB7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    125000 | PA      | $116012.94    | 0.02%             | 2056-02-04      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Forgent Power Solutions, Inc.                       | Forgent Power Solutions, Inc., Class A                                            | CUSIP: 34631F102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3852 | NS      | $112748.04    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 912833Y38<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $620399.95    | 0.13%             | 2036-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140QM4X9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    311512 | PA      | $267454.25    | 0.06%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                    | Boeing Co. (The)                                                                  | CUSIP: 097023DR3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     48000 | PA      | $51184.38     | 0.01%             | 2031-05-01      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 912833Y46<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    498000 | PA      | $300491.93    | 0.06%             | 2037-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Obayashi Corp.                                      | Obayashi Corp.                                                                    | CUSIP: N/A<br>LEI: 529900YT4O5S0LCXWD54       | Long             | EC               | CORP              | JP        |     30200 | NS      | $731458.17    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $11522.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-31701.62    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $680.59       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-7433.18     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Colombian Peso                                      | Colombian Peso                                                                    | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | CO        |        -1 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Auto Lease Trust                              | Tesla Auto Lease Trust, Series 2024-A, Class A3                                   | CUSIP: 88166VAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     18778 | PA      | $18815.01     | 0.00%             | 2027-06-21      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                          | Progress Residential Trust, Series 2022-SFR3, Class A                             | CUSIP: 74331UAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    289385 | PA      | $285152.08    | 0.06%             | 2039-04-17      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| UDR, Inc.                                           | UDR, Inc.                                                                         | CUSIP: 90265EAQ3<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |    230000 | PA      | $219263.22    | 0.05%             | 2030-01-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LFB94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    600000 | PA      | $531685.25    | 0.11%             | 2032-01-01      | Fixed         | 2.01%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1226.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA I, 30 Year                                                                   | CUSIP: 36206NKD6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |         0 | PA      | $0.10         | 0.00%             | 2026-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Trust                   | World Omni Auto Receivables Trust, Series 2023-D, Class A3                        | CUSIP: 98164DAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     46614 | PA      | $47058.05     | 0.01%             | 2029-02-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140XF6U0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    572295 | PA      | $492357.64    | 0.10%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $48.79        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens AG                                          | Siemens AG (Registered)                                                           | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |      4177 | NS      | $1017659.60   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $20265.55     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                         | Amgen, Inc.                                                                       | CUSIP: 031162DW7<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    115000 | PA      | $112991.03    | 0.02%             | 2036-02-19      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Bunge Ltd. Finance Corp.                            | Bunge Ltd. Finance Corp.                                                          | CUSIP: 120568AZ3<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    230000 | PA      | $228089.39    | 0.05%             | 2027-09-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                     | Goldman Sachs Group, Inc. (The)                                                   | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       372 | NS      | $314708.28    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Midea Group Co. Ltd.                                | Midea Group Co. Ltd., Class H                                                     | CUSIP: N/A<br>LEI: 3003003TRPHLHZD2IF61       | Long             | EC               | CORP              | CN        |     37900 | NS      | $407884.94    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $15063.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | TOPIX Index                                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |        40 | NC      | $-55563.48    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Cos., Inc.                                   | Rocket Cos., Inc., Class A                                                        | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4914 | NS      | $70024.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LKE25<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    486000 | PA      | $489347.39    | 0.10%             | 2030-04-01      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $18.68        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-14216.06    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K-1515, Class A2 | CUSIP: 3137FTZL4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    800000 | PA      | $649931.44    | 0.14%             | 2035-02-25      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust        | American Credit Acceptance Receivables Trust, Series 2024-1, Class D              | CUSIP: 02531AAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     84000 | PA      | $84805.54     | 0.02%             | 2030-05-13      | Fixed         | 5.86%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                  | Credit Agricole SA                                                                | CUSIP: 22535WAU1<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $244564.66    | 0.05%             | 2037-01-12      | Variable      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-24255.34    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                               | Walt Disney Co. (The)                                                             | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     17734 | NS      | $1709202.92   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Euro-BTP                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       159 | NC      | $-669414.44   | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Humana, Inc.                                        | Humana, Inc.                                                                      | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       549 | NS      | $95191.11     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix, Inc.                                      | SK hynix, Inc.                                                                    | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |      1412 | NS      | $801119.56    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-663.95      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NXP BV                                              | NXP BV                                                                            | CUSIP: 62954HBA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    234000 | PA      | $210239.64    | 0.04%             | 2031-05-11      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                          | Progress Residential Trust, Series 2025-SFR2, Class A                             | CUSIP: 74334GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    248445 | PA      | $234097.48    | 0.05%             | 2042-04-17      | Fixed         | 3.31%                 | Yes           |                  2 | On Loan: No      |
| Medtronic plc                                       | Medtronic plc                                                                     | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |       326 | NS      | $28247.90     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co. (The)                                    | Boeing Co. (The)                                                                  | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14022.01     | 0.00%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                     | Microsoft Corp.                                                                   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     15016 | NS      | $5558472.72   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA, Inc.                           | Comfort Systems USA, Inc.                                                         | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |       216 | NS      | $297861.84    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury Bonds                                                               | CUSIP: 912810QY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3050000 | PA      | $2319787.12   | 0.49%             | 2042-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4763.57     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bel Fuse, Inc.                                      | Bel Fuse, Inc., Class B                                                           | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |       595 | NS      | $117798.10    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge, Inc.                                      | Enbridge, Inc.                                                                    | CUSIP: 29250NBZ7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    246000 | PA      | $266968.09    | 0.06%             | 2053-11-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Eversource Energy                                   | Eversource Energy                                                                 | CUSIP: 30040WAQ1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    170000 | PA      | $167807.50    | 0.04%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Modine Manufacturing Co.                            | Modine Manufacturing Co.                                                          | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |       998 | NS      | $216276.58    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                               | Bank of America Corp.                                                             | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     17549 | NS      | $855513.75    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Xometry, Inc.                                       | Xometry, Inc., Class A                                                            | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Long             | EC               | CORP              | US        |      1618 | NS      | $66079.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $305.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Public Storage                                      | Public Storage                                                                    | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |       533 | NS      | $144379.04    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-141.23      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                              | Truist Financial Corp.                                                            | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     40000 | PA      | $42513.35     | 0.01%             | 2029-10-30      | Variable      | 7.16%                 | No            |                  2 | On Loan: No      |
| Prologis, Inc.                                      | Prologis, Inc.                                                                    | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      2086 | NS      | $275727.48    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto plc                                       | Rio Tinto plc                                                                     | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |     20902 | NS      | $1939156.21   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400000 | PA      | $369953.12    | 0.08%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| NIKE, Inc.                                          | NIKE, Inc., Class B                                                               | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |       792 | NS      | $41833.44     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-61.93       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| US Bancorp                                          | US Bancorp                                                                        | CUSIP: 91159HJQ4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    132000 | PA      | $135181.42    | 0.03%             | 2030-01-23      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Badger Meter, Inc.                                  | Badger Meter, Inc.                                                                | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      1251 | NS      | $190589.85    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties, Inc.                  | Ryman Hospitality Properties, Inc.                                                | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |      1950 | NS      | $179926.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings, Inc.                              | Labcorp Holdings, Inc.                                                            | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       833 | NS      | $222252.73    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury Bonds                                                               | CUSIP: 912810QZ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2070000 | PA      | $1657374.60   | 0.35%             | 2043-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Safran SA                                           | Safran SA                                                                         | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |      6892 | NS      | $2255264.46   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Australia 10 Year Bond                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |       -98 | NC      | $56274.54     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TransUnion                                          | TransUnion                                                                        | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |      1975 | NS      | $136650.25    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA, Inc.                                    | Murphy USA, Inc.                                                                  | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |       261 | NS      | $128926.17    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                               | FHLMC, Multi-Family Structured Pass-Through Certificates, Series KJ44, Class A2   | CUSIP: 3137H9QU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $502509.40    | 0.11%             | 2033-02-25      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | U.S. Treasury 5 Year Note                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -9 | NC      | $17353.96     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-613.54      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | U.S. Treasury Ultra Bond                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -91 | NC      | $364956.12    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp.                                           | CDW Corp.                                                                         | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |       927 | NS      | $112185.54    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co.                                | Emerson Electric Co.                                                              | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |      1142 | NS      | $149624.84    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalOcean Holdings, Inc.                         | DigitalOcean Holdings, Inc.                                                       | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Long             | EC               | CORP              | US        |      1696 | NS      | $145482.88    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp.                                 | First Horizon Corp.                                                               | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |      7176 | NS      | $163325.76    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier, Inc.                                      | Rayonier, Inc.                                                                    | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |      3624 | NS      | $74726.88     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Volvo AB                                            | Volvo AB, Class B                                                                 | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |     39058 | NS      | $1284200.40   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-5760.53     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Amphenol Corp.                                      | Amphenol Corp.                                                                    | CUSIP: 032095BB6<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    120000 | PA      | $112693.07    | 0.02%             | 2055-11-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Auto Receivables Trust                | Mercedes-Benz Auto Receivables Trust, Series 2023-1, Class A3                     | CUSIP: 58770AAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14438 | PA      | $14449.68     | 0.00%             | 2027-11-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| AIA Group Ltd.                                      | AIA Group Ltd.                                                                    | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |     57400 | NS      | $637790.22    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| 3M Co.                                              | 3M Co.                                                                            | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      4540 | NS      | $659344.20    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Truck Leasing Co. LP                         | Penske Truck Leasing Co. LP                                                       | CUSIP: 709599BN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $209294.47    | 0.04%             | 2027-07-01      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Carlsberg A/S                                       | Carlsberg A/S, Class B                                                            | CUSIP: N/A<br>LEI: 5299001O0WJQYB5GYZ19       | Long             | EC               | CORP              | DK        |      2733 | NS      | $339532.51    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-12474.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ITT, Inc.                                           | ITT, Inc.                                                                         | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |      1583 | NS      | $301608.99    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust  | GM Financial Consumer Automobile Receivables Trust, Series 2023-3, Class A3       | CUSIP: 36267KAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     26831 | PA      | $26964.10     | 0.01%             | 2028-06-16      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $774.08       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                      | Hewlett Packard Enterprise Co.                                                    | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5807.92      | 0.00%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Engie SA                                            | Engie SA                                                                          | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |     51535 | NS      | $1660841.96   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Large Cap Value Fund                       | JPMorgan Large Cap Value Fund, Class R6                                           | CUSIP: 48121L833<br>LEI: 549300JPSGHFE3RK0F55 | Long             |  | RF                | US        |    458765 | NS      | $9615709.47   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre, Inc.                                  | MercadoLibre, Inc.                                                                | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       191 | NS      | $330242.82    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CNF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    645000 | PA      | $646688.09    | 0.14%             | 2032-05-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Brazilian Real                                      | Brazilian Real                                                                    | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | BR        |        -0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BAT Capital Corp.                                   | BAT Capital Corp.                                                                 | CUSIP: 05526DCB9<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    146000 | PA      | $149813.30    | 0.03%             | 2032-08-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Neptune Insurance Holdings, Inc.                    | Neptune Insurance Holdings, Inc., Class A                                         | CUSIP: 64073B103<br>LEI: 529900I3QTHC0Q1C2D65 | Long             | EC               | CORP              | US        |      4125 | NS      | $99783.75     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                           | Nestle SA (Registered)                                                            | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |     10601 | NS      | $1039863.26   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Regency Centers LP                                  | Regency Centers LP                                                                | CUSIP: 75884RAV5<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              | CORP              | US        |    283000 | PA      | $281433.60    | 0.06%             | 2027-02-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| KBC Group NV                                        | KBC Group NV                                                                      | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |      5796 | NS      | $709384.02    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $5554.80      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-29054.25    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| O'Reilly Automotive, Inc.                           | O'Reilly Automotive, Inc.                                                         | CUSIP: 67103HAK3<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    283000 | PA      | $246835.51    | 0.05%             | 2031-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                       | Comcast Corp.                                                                     | CUSIP: 20030NCZ2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    200000 | PA      | $131129.10    | 0.03%             | 2050-02-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                      | Carvana Auto Receivables Trust, Series 2021-P4, Class A4                          | CUSIP: 14687KAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    137709 | PA      | $136987.71    | 0.03%             | 2027-12-10      | Fixed         | 1.64%                 | No            |                  2 | On Loan: No      |
| Martin Marietta Materials, Inc.                     | Martin Marietta Materials, Inc.                                                   | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |       188 | NS      | $110671.84    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola HBC AG                                    | Coca-Cola HBC AG                                                                  | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49       | Long             | EC               | CORP              | CH        |      3622 | NS      | $204024.38    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                      | Morgan Stanley Capital I Trust, Series 2021-PLZA, Class A                         | CUSIP: 61773PAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    294000 | PA      | $249961.89    | 0.05%             | 2043-11-09      | Fixed         | 2.57%                 | Yes           |                  2 | On Loan: No      |
| RTX Corp.                                           | RTX Corp.                                                                         | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      2169 | NS      | $418400.10    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Unipol Assicurazioni SpA                            | Unipol Assicurazioni SpA                                                          | CUSIP: N/A<br>LEI: 8156005CE5E7340CCA86       | Long             | EC               | CORP              | IT        |      8010 | NS      | $186073.70    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4290.89     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4358.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $815.37       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA Healthcare, Inc.                                | HCA Healthcare, Inc.                                                              | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       199 | NS      | $94174.76     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaztransport Et Technigaz SA                        | Gaztransport Et Technigaz SA                                                      | CUSIP: N/A<br>LEI: 969500BVOHVZUUFWDT54       | Long             | EC               | CORP              | FR        |       720 | NS      | $169339.49    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                     | Goldman Sachs Group, Inc. (The)                                                   | CUSIP: 38141GB78<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    615000 | PA      | $603624.78    | 0.13%             | 2035-10-23      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| IHI Corp.                                           | IHI Corp.                                                                         | CUSIP: N/A<br>LEI: 549300ETQIESIUQ2OE26       | Long             | EC               | CORP              | JP        |     17400 | NS      | $359014.32    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-247.75      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, REMIC, Series 3989, Class JW                                               | CUSIP: 3137AKHT1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    446653 | PA      | $423841.48    | 0.09%             | 2042-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Intuitive Surgical, Inc.                            | Intuitive Surgical, Inc.                                                          | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       493 | NS      | $227268.07    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                                  | State Street Corp.                                                                | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      2172 | NS      | $274888.32    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Carmax Auto Owner Trust                             | Carmax Auto Owner Trust, Series 2025-3, Class A3                                  | CUSIP: 14290FAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     70000 | PA      | $70159.17     | 0.01%             | 2030-07-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $830.49       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondelez International, Inc.                        | Mondelez International, Inc., Class A                                             | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      6613 | NS      | $381173.32    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 912833Z52<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1256000 | PA      | $746689.21    | 0.16%             | 2037-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140QPA72<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    550717 | PA      | $521286.03    | 0.11%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                        | AbbVie, Inc.                                                                      | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      9042 | NS      | $1966544.58   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group, Inc.                                 | Omnicom Group, Inc.                                                               | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      1773 | NS      | $133524.63    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $5565.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHF Trust                                           | FHF Trust, Series 2023-1A, Class A2                                               | CUSIP: 30331GAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10861 | PA      | $10899.00     | 0.00%             | 2028-06-15      | Fixed         | 6.57%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                   | Credit Acceptance Auto Loan Trust, Series 2025-1A, Class A                        | CUSIP: 22536KAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    160000 | PA      | $161180.48    | 0.03%             | 2035-03-15      | Fixed         | 5.02%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust              | Banc of America Alternative Loan Trust, Series 2006-5, Class 3A1                  | CUSIP: 05950BBG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        94 | PA      | $93.46        | 0.00%             | 2046-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                              | Lendmark Funding Trust, Series 2025-1A, Class A                                   | CUSIP: 52604QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $125430.39    | 0.03%             | 2034-09-20      | Fixed         | 4.94%                 | Yes           |                  2 | On Loan: No      |
| Marvell Technology, Inc.                            | Marvell Technology, Inc.                                                          | CUSIP: 573874AS3<br>LEI: 254900WVU0BM7ZCJ9E93 | Long             | DBT              | CORP              | US        |    171000 | PA      | $173754.78    | 0.04%             | 2035-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp.                              | ON Semiconductor Corp.                                                            | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      3473 | NS      | $215048.16    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Auto Receivables Trust                         | Ally Auto Receivables Trust, Series 2023-1, Class A3                              | CUSIP: 02007WAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     47588 | PA      | $47823.73     | 0.01%             | 2028-05-15      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3248.87      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $35932.92     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1842.72      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                 | Union Pacific Corp.                                                               | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |       817 | NS      | $198220.54    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-14.11       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | MSCI Emerging Markets Index                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -156 | NC      | $50887.68     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify, Inc.                                       | Shopify, Inc., Class A                                                            | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |       595 | NS      | $70578.90     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                     | Citigroup, Inc.                                                                   | CUSIP: 172967MP3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    898000 | PA      | $887735.17    | 0.19%             | 2031-03-31      | Variable      | 4.41%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                      | Broadcom, Inc.                                                                    | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    320000 | PA      | $267410.84    | 0.06%             | 2036-11-15      | Fixed         | 3.19%                 | Yes           |                  2 | On Loan: No      |
| Boston Scientific Corp.                             | Boston Scientific Corp.                                                           | CUSIP: 101137BA4<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | DBT              | CORP              | US        |    283000 | PA      | $263678.60    | 0.06%             | 2030-06-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $12231.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NXP Semiconductors NV                               | NXP Semiconductors NV                                                             | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |      2753 | NS      | $541955.58    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1.94        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Western Digital Corp.                               | Western Digital Corp.                                                             | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      1477 | NS      | $399513.73    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue, Inc.                                        | Kenvue, Inc.                                                                      | CUSIP: 49177JAR3<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10747.31     | 0.00%             | 2063-03-22      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Baker Hughes Co.                                    | Baker Hughes Co., Class A                                                         | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15049 | NS      | $918741.45    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.                     | Regeneron Pharmaceuticals, Inc.                                                   | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       634 | NS      | $489853.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings, Inc.                              | Booking Holdings, Inc.                                                            | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       129 | NS      | $543131.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2025-3A, Class C                      | CUSIP: 30166XAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80000 | PA      | $80437.79     | 0.02%             | 2031-10-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| United Rentals, Inc.                                | United Rentals, Inc.                                                              | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      1043 | NS      | $759888.08    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $963.93       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-13.35       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $6479.36      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken NV                                         | Heineken NV                                                                       | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |      1408 | NS      | $108300.98    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2143.75     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Danieli & C Officine Meccaniche SpA                 | Danieli & C Officine Meccaniche SpA                                               | CUSIP: N/A<br>LEI: 815600B4B8C6A353E566       | Long             | EC               | CORP              | IT        |      2251 | NS      | $111296.47    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Russian Roubles                                     | Russian Roubles                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | RU        |         0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings, Inc.                               | Karman Holdings, Inc.                                                             | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1371 | NS      | $109748.55    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-645.85      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Friedrich Vorwerk Group SE                          | Friedrich Vorwerk Group SE                                                        | CUSIP: N/A<br>LEI: 529900NBM89YAM5ENI18       | Long             | EC               | CORP              | DE        |      1685 | NS      | $139418.21    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Shake Shack, Inc.                                   | Shake Shack, Inc., Class A                                                        | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |      1273 | NS      | $112622.31    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-323.04      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $346.14       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-453.20      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DOC DR LLC                                          | DOC DR LLC                                                                        | CUSIP: 71951QAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     64000 | PA      | $56732.13     | 0.01%             | 2031-11-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, REMIC, Series 5190, Class EC                                               | CUSIP: 3137H5FP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    485482 | PA      | $433029.55    | 0.09%             | 2051-12-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Tyler Technologies, Inc.                            | Tyler Technologies, Inc.                                                          | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |       194 | NS      | $66421.72     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                             | KeyCorp                                                                           | CUSIP: 49326EEP4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $106024.19    | 0.02%             | 2035-03-06      | Variable      | 6.40%                 | No            |                  2 | On Loan: No      |
| GMK Norilskiy Nickel PAO                            | GMK Norilskiy Nickel PAO                                                          | CUSIP: N/A<br>LEI: 253400JPTEEW143W3E47       | Long             | EC               | CORP              | RU        |     25200 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| EOG Resources, Inc.                                 | EOG Resources, Inc.                                                               | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      3700 | NS      | $534909.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences, Inc.                               | Gilead Sciences, Inc.                                                             | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      1607 | NS      | $223967.59    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Capital Corp.                        | American Water Capital Corp.                                                      | CUSIP: 03040WBD6<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    344000 | PA      | $349673.88    | 0.07%             | 2034-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust           | FHLMC Seasoned Credit Risk Transfer Trust, Series 2022-1, Class MTU               | CUSIP: 35563P7E3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    302646 | PA      | $263572.60    | 0.06%             | 2061-11-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CHF1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4791000 | PA      | $4761804.84   | 1.00%             | 2030-05-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4209000 | PA      | $4207849.09   | 0.88%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-12172.11    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cencora, Inc.                                       | Cencora, Inc.                                                                     | CUSIP: 03073EBD6<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |     33000 | PA      | $32447.07     | 0.01%             | 2033-02-13      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, Series 2006-AR1, Class 1A3   | CUSIP: 251510LD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2036-02-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust              | Santander Drive Auto Receivables Trust, Series 2025-4, Class C                    | CUSIP: 802923AE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15000 | PA      | $14934.56     | 0.00%             | 2032-01-15      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3.55         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2096.35     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1481.50      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                            | UnitedHealth Group, Inc.                                                          | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      2580 | NS      | $698122.20    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific, Inc.                      | Thermo Fisher Scientific, Inc.                                                    | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       377 | NS      | $185306.81    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $160.96       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                   | GLS Auto Receivables Issuer Trust, Series 2025-4A, Class C                        | CUSIP: 36273HAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95000 | PA      | $94499.30     | 0.02%             | 2031-08-15      | Fixed         | 4.74%                 | Yes           |                  2 | On Loan: No      |
| Ridgepost Capital, Inc.                             | Ridgepost Capital, Inc., Class A                                                  | CUSIP: 69376K106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5504 | NS      | $39959.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Pipelines Holding Co. LLC                  | Columbia Pipelines Holding Co. LLC                                                | CUSIP: 19828AAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $86464.87     | 0.02%             | 2031-10-01      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3133ASGT4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    378471 | PA      | $324826.46    | 0.07%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                  | Honda Auto Receivables Owner Trust, Series 2023-1, Class A3                       | CUSIP: 43815JAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10346 | PA      | $10358.25     | 0.00%             | 2027-04-21      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-13863.54    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AutoZone, Inc.                                      | AutoZone, Inc.                                                                    | CUSIP: 053332BA9<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    230000 | PA      | $199645.78    | 0.04%             | 2031-01-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Cigna Group (The)                                   | Cigna Group (The)                                                                 | CUSIP: 125523CZ1<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |     97000 | PA      | $97125.01     | 0.02%             | 2036-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                 | Deutsche Telekom AG (Registered)                                                  | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |     28336 | NS      | $1057592.09   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Carmax Auto Owner Trust                             | Carmax Auto Owner Trust, Series 2025-2, Class A3                                  | CUSIP: 14320AAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     87000 | PA      | $87412.05     | 0.02%             | 2030-03-15      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| First Interstate BancSystem, Inc.                   | First Interstate BancSystem, Inc., Class A                                        | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |      3774 | NS      | $126051.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp.                                         | FedEx Corp.                                                                       | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       507 | NS      | $180583.26    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings, Inc.                        | Zimmer Biomet Holdings, Inc.                                                      | CUSIP: 98956PBC5<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |    121000 | PA      | $123509.78    | 0.03%             | 2035-02-19      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4877.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3756.76      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| First Financial Bancorp                             | First Financial Bancorp                                                           | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |      4419 | NS      | $123201.72    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                         | Novartis AG (Registered)                                                          | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |      8322 | NS      | $1277380.70   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Dover Corp.                                         | Dover Corp.                                                                       | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |      3021 | NS      | $629727.45    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LDHK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $417174.00    | 0.09%             | 2033-09-01      | Fixed         | 1.82%                 | No            |                  2 | On Loan: No      |
| PG&E Energy Recovery Funding LLC                    | PG&E Energy Recovery Funding LLC, Series A-3                                      | CUSIP: 71710TAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     43000 | PA      | $31693.49     | 0.01%             | 2046-07-15      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-26654.39    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-457.90      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sierra Timeshare Receivables Funding LLC            | Sierra Timeshare Receivables Funding LLC, Series 2022-2A, Class A                 | CUSIP: 82650TAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     26264 | PA      | $26311.38     | 0.01%             | 2040-06-20      | Fixed         | 4.73%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $874.15       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                   | Wells Fargo & Co.                                                                 | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    322000 | PA      | $329511.49    | 0.07%             | 2036-04-23      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Wealthfront Corp.                                   | Wealthfront Corp.                                                                 | CUSIP: 947002101<br>LEI: 254900H4LJLUHGFJYM32 | Long             | EC               | CORP              | US        |      8586 | NS      | $79420.50     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128337E4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    488000 | PA      | $306812.58    | 0.06%             | 2036-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                         | ONEOK, Inc.                                                                       | CUSIP: 682680DB6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    118000 | PA      | $117044.06    | 0.02%             | 2032-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Severstal PAO                                       | Severstal PAO                                                                     | CUSIP: 818150302<br>LEI: 213800OKDPTV6K4ONO53 | Long             | EC               | CORP              | RU        |      1930 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Keyence Corp.                                       | Keyence Corp.                                                                     | CUSIP: N/A<br>LEI: 529900M7PQBS7A89DZ11       | Long             | EC               | CORP              | JP        |      1900 | NS      | $676223.99    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                    | McDonald's Corp.                                                                  | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      7166 | NS      | $2227121.14   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CQA2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3183000 | PA      | $3155397.41   | 0.66%             | 2029-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Kubota Credit Owner Trust                           | Kubota Credit Owner Trust, Series 2023-1A, Class A3                               | CUSIP: 50117KAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     42563 | PA      | $42638.66     | 0.01%             | 2027-06-15      | Fixed         | 5.02%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $15657.68     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                   | Credit Acceptance Auto Loan Trust, Series 2024-2A, Class A                        | CUSIP: 22536VAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $202197.64    | 0.04%             | 2034-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Kontoor Brands, Inc.                                | Kontoor Brands, Inc.                                                              | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |      1431 | NS      | $100584.99    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                                 | Kinder Morgan, Inc.                                                               | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      3101 | NS      | $103976.53    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co.                                | American Express Co.                                                              | CUSIP: 025816DW6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100928.72    | 0.02%             | 2035-07-26      | Variable      | 5.28%                 | No            |                  2 | On Loan: No      |
| Chefs' Warehouse, Inc. (The)                        | Chefs' Warehouse, Inc. (The)                                                      | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |      2037 | NS      | $121099.65    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnitogorsk Iron & Steel Works PJSC                | Magnitogorsk Iron & Steel Works PJSC                                              | CUSIP: N/A<br>LEI: 253400XSJ4C01YMCXG44       | Long             | EC               | CORP              | RU        |     18733 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| American Express Co.                                | American Express Co.                                                              | CUSIP: 025816DV8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32275.43     | 0.01%             | 2028-07-26      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| Portland General Electric Co.                       | Portland General Electric Co.                                                     | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |      2421 | NS      | $127756.17    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                        | UBS Group AG                                                                      | CUSIP: 225401BS6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $196575.72    | 0.04%             | 2032-08-10      | Variable      | 4.59%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                   | Yum! Brands, Inc.                                                                 | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      3718 | NS      | $578074.64    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp.                               | Quaker Chemical Corp.                                                             | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |       675 | NS      | $83855.25     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream, Inc.                                  | DT Midstream, Inc.                                                                | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       922 | NS      | $124165.74    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Mining Group Co. Ltd.                         | Zijin Mining Group Co. Ltd., Class H                                              | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561       | Long             | EC               | CORP              | CN        |    120000 | NS      | $539819.86    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Accenture plc                                       | Accenture plc, Class A                                                            | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |      2524 | NS      | $500483.96    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Energy AG                                   | Siemens Energy AG                                                                 | CUSIP: N/A<br>LEI: 5299005CHJZ14D4FDJ62       | Long             | EC               | CORP              | DE        |      1631 | NS      | $281265.26    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Polish Zloty - New                                  | Polish Zloty - New                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | PL        |         0 | OU      | $0.08         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                     | Goldman Sachs Group, Inc. (The)                                                   | CUSIP: 38141GYC2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    140000 | PA      | $103807.20    | 0.02%             | 2042-04-22      | Variable      | 3.21%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1103.25     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| US Bancorp                                          | US Bancorp                                                                        | CUSIP: 91159HJR2<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     32000 | PA      | $33051.50     | 0.01%             | 2035-01-23      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9194100 | PA      | $9222472.44   | 1.93%             | 2027-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1849.34     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $65346.14     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-69281.45    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                               | Dominion Energy, Inc.                                                             | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |      5728 | NS      | $354104.96    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-71318.98    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                        | Oracle Corp.                                                                      | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $90559.24     | 0.02%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Uber Technologies, Inc.                             | Uber Technologies, Inc.                                                           | CUSIP: 90353TAP5<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24475.21     | 0.01%             | 2034-09-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                      | BNP Paribas SA                                                                    | CUSIP: 09659W3A0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $206604.43    | 0.04%             | 2033-01-13      | Variable      | 5.79%                 | Yes           |                  2 | On Loan: No      |
| Silgan Holdings, Inc.                               | Silgan Holdings, Inc.                                                             | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |      3025 | NS      | $117370.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-57.63       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-230.10      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $886.12       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury STRIPS Bonds                                                        | CUSIP: 9128337N4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    155000 | PA      | $129093.35    | 0.03%             | 2030-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capgemini SE                                        | Capgemini SE                                                                      | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |      1206 | NS      | $142306.16    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)            | PNC Financial Services Group, Inc. (The)                                          | CUSIP: 693475BM6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    155000 | PA      | $154967.33    | 0.03%             | 2034-01-24      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140QMKG8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1034150 | PA      | $916720.10    | 0.19%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Entergy Corp.                                       | Entergy Corp.                                                                     | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      3237 | NS      | $363709.32    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| WRKCo, Inc.                                         | WRKCo, Inc.                                                                       | CUSIP: 92940PAE4<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    209000 | PA      | $206458.80    | 0.04%             | 2028-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips Co.                                  | ConocoPhillips Co.                                                                | CUSIP: 20826FBM7<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |     68000 | PA      | $64960.26     | 0.01%             | 2055-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Moran Foods Backstop Equity                         | Moran Foods Backstop Equity                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    359351 | NS      | $0.36         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Avolon Holdings Funding Ltd.                        | Avolon Holdings Funding Ltd.                                                      | CUSIP: 05401ABF7<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    166000 | PA      | $159006.42    | 0.03%             | 2033-04-01      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| Liberty Energy, Inc.                                | Liberty Energy, Inc.                                                              | CUSIP: 53115L104<br>LEI: 254900PKFJW6RILDCM60 | Long             | EC               | CORP              | US        |      2865 | NS      | $82512.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SLG Office Trust                                    | SLG Office Trust, Series 2021-OVA, Class A                                        | CUSIP: 78449RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    235000 | PA      | $208999.01    | 0.04%             | 2041-07-15      | Fixed         | 2.59%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, REMIC, Series 5190, Class PH                                               | CUSIP: 3137H5HE0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    477632 | PA      | $440675.02    | 0.09%             | 2052-02-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Woodward, Inc.                                      | Woodward, Inc.                                                                    | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |       111 | NS      | $39729.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140NYM32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $499836.74    | 0.10%             | 2032-06-01      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| First Hawaiian, Inc.                                | First Hawaiian, Inc.                                                              | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |      3879 | NS      | $95578.56     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                              | UCB SA                                                                            | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |      1791 | NS      | $539622.45    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| PG&E Recovery Funding LLC                           | PG&E Recovery Funding LLC, Series A-3                                             | CUSIP: 71710TAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    154000 | PA      | $152241.96    | 0.03%             | 2047-07-15      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA UMBS, 30 Year                                                                | CUSIP: 3140M3AF7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    435029 | PA      | $368547.73    | 0.08%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Philippines                                         | Philippines                                                                       | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | PH        |        -0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Continental AG                                      | Continental AG                                                                    | CUSIP: N/A<br>LEI: 529900A7YD9C0LLXM621       | Long             | EC               | CORP              | DE        |      1901 | NS      | $132703.43    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-32249.68    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EURO                                                | EURO                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |      9832 | OU      | $11364.41     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Indiana LLC                             | Duke Energy Indiana LLC                                                           | CUSIP: 26443TAD8<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9284.57      | 0.00%             | 2053-04-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| British Pound                                       | British Pound                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |       795 | OU      | $1052.76      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp.                                | American Tower Corp.                                                              | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      2772 | NS      | $478391.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                                       | UniCredit SpA                                                                     | CUSIP: 904678AY5<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    217000 | PA      | $199380.86    | 0.04%             | 2032-06-03      | Variable      | 3.13%                 | Yes           |                  2 | On Loan: No      |
| M&T Bank Corp.                                      | M&T Bank Corp.                                                                    | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |      1144 | NS      | $236487.68    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                                | Meta Platforms, Inc.                                                              | CUSIP: 30303MAD4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44146.87     | 0.01%             | 2035-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co.                               | Kraft Heinz Foods Co.                                                             | CUSIP: 50077LAL0<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    146000 | PA      | $141821.98    | 0.03%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cencora, Inc.                                       | Cencora, Inc.                                                                     | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      1481 | NS      | $465241.34    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                                   | Wells Fargo & Co.                                                                 | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22329.48     | 0.00%             | 2034-04-24      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | EURO STOXX 50 Index                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |         7 | NC      | $-8072.18     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Santander Drive Auto Receivables Trust              | Santander Drive Auto Receivables Trust, Series 2024-2, Class C                    | CUSIP: 80286YAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     48000 | PA      | $48856.68     | 0.01%             | 2030-06-17      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1002.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $703.86       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140JBPU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1477401 | PA      | $1391100.06   | 0.29%             | 2059-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-90.81       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-77.94       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Reddit, Inc.                                        | Reddit, Inc., Class A                                                             | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |       589 | NS      | $79308.85     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-297.04      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                          | Corebridge Financial, Inc.                                                        | CUSIP: 21871XAM1<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    123000 | PA      | $95812.62     | 0.02%             | 2052-04-05      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2381.41     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Uber Technologies, Inc.                             | Uber Technologies, Inc.                                                           | CUSIP: 90353TAU4<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     66000 | PA      | $64043.38     | 0.01%             | 2035-09-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Packaging Corp. of America                          | Packaging Corp. of America                                                        | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |       725 | NS      | $153859.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos., Inc.                                   | Lowe's Cos., Inc.                                                                 | CUSIP: 548661EH6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    234000 | PA      | $221421.87    | 0.05%             | 2032-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2024-1A, Class C                      | CUSIP: 30167PAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    102000 | PA      | $102734.86    | 0.02%             | 2030-05-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                   | NatWest Group plc                                                                 | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |    147095 | NS      | $1089672.03   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Burlington Stores, Inc.                             | Burlington Stores, Inc.                                                           | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |      1102 | NS      | $358568.76    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp.                   | Booz Allen Hamilton Holding Corp., Class A                                        | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |      1214 | NS      | $94728.42     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments, Inc.                             | Texas Instruments, Inc.                                                           | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      1593 | NS      | $309265.02    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $20692.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2024-3A, Class C                      | CUSIP: 30165AAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $50555.57     | 0.01%             | 2029-07-16      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $16427.91     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Flowco Holdings, Inc.                               | Flowco Holdings, Inc., Class A                                                    | CUSIP: 342909108<br>LEI: 529900837MXVPIR9FZ68 | Long             | EC               | CORP              | US        |      4521 | NS      | $93132.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE plc                                             | SSE plc                                                                           | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |      9556 | NS      | $330337.58    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| SCE Recovery Funding LLC                            | SCE Recovery Funding LLC                                                          | CUSIP: 78433LAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $94365.43     | 0.02%             | 2045-03-15      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                        | AbbVie, Inc.                                                                      | CUSIP: 00287YEG0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    102000 | PA      | $100074.11    | 0.02%             | 2036-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PHH Mortgage Trust                                  | PHH Mortgage Trust, Series 2008-CIM2, Class 5A1                                   | CUSIP: 69338AAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1063 | PA      | $980.10       | 0.00%             | 2038-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings plc                            | Rolls-Royce Holdings plc                                                          | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |     17323 | NS      | $263178.38    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-10.95       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Duquesne Light Holdings, Inc.                       | Duquesne Light Holdings, Inc.                                                     | CUSIP: 266233AJ4<br>LEI: 4CUJ1D8WDXK9X7QI6B93 | Long             | DBT              | CORP              | US        |    413000 | PA      | $364219.98    | 0.08%             | 2032-01-07      | Fixed         | 2.77%                 | Yes           |                  2 | On Loan: No      |
| Fidelity National Information Services, Inc.        | Fidelity National Information Services, Inc.                                      | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      5955 | NS      | $279349.05    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd.                                         | Garmin Ltd.                                                                       | CUSIP: N/A<br>LEI: 2549001E0HIPIJQ0W046       | Long             | EC               | CORP              | CH        |       637 | NS      | $147790.37    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Games Workshop Group plc                            | Games Workshop Group plc                                                          | CUSIP: N/A<br>LEI: 213800RP9QJQYGWHNT41       | Long             | EC               | CORP              | GB        |       677 | NS      | $160040.66    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $413.90       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $93.26        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $112.34       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Group NV                                        | KBC Group NV                                                                      | CUSIP: 48241FAE4<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | DBT              | CORP              | BE        |    200000 | PA      | $196872.22    | 0.04%             | 2031-09-23      | Variable      | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Athene Global Funding                               | Athene Global Funding                                                             | CUSIP: 04685A3G4<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    219000 | PA      | $204746.87    | 0.04%             | 2029-01-07      | Fixed         | 2.72%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                   | Credit Acceptance Auto Loan Trust, Series 2025-2A, Class A                        | CUSIP: 224940AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $249835.00    | 0.05%             | 2035-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CCC Intelligent Solutions Holdings, Inc.            | CCC Intelligent Solutions Holdings, Inc.                                          | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12776 | NS      | $76656.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA, Inc.                                           | HCA, Inc.                                                                         | CUSIP: 404119DE6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    161000 | PA      | $156602.00    | 0.03%             | 2032-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                              | Truist Financial Corp.                                                            | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     63000 | PA      | $63158.70     | 0.01%             | 2027-06-08      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $35214.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                    | OneMain Financial Issuance Trust, Series 2020-2A, Class B                         | CUSIP: 682696AB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    220000 | PA      | $213071.25    | 0.04%             | 2035-09-14      | Fixed         | 2.21%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-17669.86    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Envista Holdings Corp.                              | Envista Holdings Corp.                                                            | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |      7153 | NS      | $181471.61    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG                                 | MTU Aero Engines AG                                                               | CUSIP: N/A<br>LEI: 529900807L67JY81RD65       | Long             | EC               | CORP              | DE        |       487 | NS      | $177666.80    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | U.S. Treasury Notes                                                               | CUSIP: 91282CFY2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $999765.62    | 0.21%             | 2029-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-15281.40    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Pernod Ricard SA                                    | Pernod Ricard SA                                                                  | CUSIP: N/A<br>LEI: 52990097YFPX9J0H5D87       | Long             | EC               | CORP              | FR        |      2732 | NS      | $203156.65    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Arabian Ryal                                  | Saudi Arabian Ryal                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SA        |         0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $6311.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Pool                                          | FHLMC Gold Pools, Other                                                           | CUSIP: 3132XFJB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $943335.60    | 0.20%             | 2028-11-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| ASR Nederland NV                                    | ASR Nederland NV                                                                  | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |      3161 | NS      | $217624.91    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corp.                                | American Tower Corp.                                                              | CUSIP: 03027XBA7<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    221000 | PA      | $207425.72    | 0.04%             | 2030-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                        | Samsung Electronics Co. Ltd.                                                      | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |      1397 | NS      | $163395.06    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Core Bond Fund                             | JPMorgan Core Bond Fund, Class R6                                                 | CUSIP: 4812C0100<br>LEI: DQ695W4P67V7A4LC6I09 | Long             |  | RF                | US        |   5071606 | NS      | $52491117.48  | 10.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit Westrock plc                                | Smurfit Westrock plc                                                              | CUSIP: N/A<br>LEI: 635400EGSEOPDW2EXS14       | Long             | EC               | CORP              | IE        |      3175 | NS      | $126523.75    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare, Inc.                                    | Cloudflare, Inc., Class A                                                         | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |       443 | NS      | $91408.62     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited, Inc.                                    | BankUnited, Inc.                                                                  | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |      2594 | NS      | $117145.04    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks, Inc.                            | Palo Alto Networks, Inc.                                                          | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      1437 | NS      | $230379.84    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies, Inc.               | Applied Industrial Technologies, Inc.                                             | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |       700 | NS      | $185724.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1082.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitie Group plc                                     | Mitie Group plc                                                                   | CUSIP: N/A<br>LEI: 213800MTCLTKEHWZMJ03       | Long             | EC               | CORP              | GB        |     55817 | NS      | $124856.15    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                                       | Equinix, Inc.                                                                     | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |       126 | NS      | $123510.24    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                | FNMA, Other                                                                       | CUSIP: 3140LEBC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    600000 | PA      | $524861.37    | 0.11%             | 2031-11-01      | Fixed         | 1.77%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust              | Santander Drive Auto Receivables Trust, Series 2025-3, Class C                    | CUSIP: 80288JAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     70000 | PA      | $70099.80     | 0.01%             | 2031-09-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                          | FHLMC UMBS, 30 Year                                                               | CUSIP: 3133KL2H9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    517725 | PA      | $441543.17    | 0.09%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Best Buy Co., Inc.                                  | Best Buy Co., Inc.                                                                | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |      1770 | NS      | $113634.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3931.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** JPMorgan Trust I

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer