# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0001752724-23-016723
**Filing Date:** 2023-1
**Character Count:** 1047843
**Document Hash:** 441ed004d3e908e7d38d27818ea17263
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-016723.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001752724-23-016723

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**PERIOD START**: 20230228

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21295
- **FILM NUMBER:** 23563107

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

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

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

## Series and Classes Contracts Data

### JPMorgan Global Bond Opportunities Fund (Series ID: S000037860)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000116841 | Class A      | GBOAX           |
| C000116842 | Class C      | GBOCX           |
| C000116843 | Class I      | GBOSX           |
| C000116844 | Class R6     | GBONX           |

## Nport-Ex

**JPMorgan Global Bond Opportunities Fund**

**Schedule of Portfolio Investments as of November 30, 2022**

**(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., 2022. |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>| <br> **VALUE** <br>**($000)**<br>|
| **Corporate Bonds — 62.6%** | **Corporate Bonds — 62.6%** | **Corporate Bonds — 62.6%** |
| **Australia — 0.5%** | **Australia — 0.5%** | **Australia — 0.5%** |
| &nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia 3.78%, 3/14/2032 (a) | 1085 | 891 |
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 9/1/2030 (a) | 3363 | 2729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 4/27/2031 (a) | 7500 | 6177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 9/23/2031 (a) | 4594 | 3657 |
| &nbsp;&nbsp;&nbsp; Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD ICE Swap Rate 5 Year + 2.24%), 4.32%, 11/23/2031 (b) | 900 | 822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 4.11%, 7/24/2034 (b) | 980 | 836 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15112 |
| **Austria — 0.1%** | **Austria — 0.1%** | **Austria — 0.1%** |
| &nbsp;&nbsp;&nbsp; ams-OSRAM AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 7/31/2025 (c) | EUR 2,310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 7/31/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1135 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3397 |
| **Belgium — 0.5%** | **Belgium — 0.5%** | **Belgium — 0.5%** |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch Cos. LLC 4.90%, 2/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4635 |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch InBev Worldwide, Inc. 4.44%, 10/6/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3189 |
| &nbsp;&nbsp;&nbsp; KBC Group NV (EUR Swap Annual 5 Year + 4.69%), 4.75%, 3/5/2024 (b) (c) (d) (e) | EUR 1,400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1406 |
| &nbsp;&nbsp;&nbsp; Ontex Group NV 3.50%, 7/15/2026 (c) | EUR 1,300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1116 |
| &nbsp;&nbsp;&nbsp; Sarens Finance Co. NV 5.75%, 2/21/2027 (c) | EUR 1,900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1493 |
| &nbsp;&nbsp;&nbsp; Solvay Finance SACA (EUR Swap Annual 5 Year + 3.70%), 5.42%, 11/12/2023 (b) (c) (d) (e) | EUR 2,071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2148 |
| &nbsp;&nbsp;&nbsp; Telenet Finance Luxembourg Notes SARL 3.50%, 3/1/2028 (c) | EUR 2,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1909 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15896 |
| **Brazil — 0.6%** | **Brazil — 0.6%** | **Brazil — 0.6%** |
| &nbsp;&nbsp;&nbsp; Guara Norte SARL 5.20%, 6/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3313 |
| &nbsp;&nbsp;&nbsp; Klabin Austria GmbH 7.00%, 4/3/2049 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2829 |
| &nbsp;&nbsp;&nbsp; MV24 Capital BV 6.75%, 6/1/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2526 |
| &nbsp;&nbsp;&nbsp; Nexa Resources SA 5.38%, 5/4/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4174 |
| &nbsp;&nbsp;&nbsp; Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 3/16/2047 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1648 |
| &nbsp;&nbsp;&nbsp; Vale Overseas Ltd. 3.75%, 7/8/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2647 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17807 |
| **Canada — 1.3%** | **Canada — 1.3%** | **Canada — 1.3%** |
| &nbsp;&nbsp;&nbsp; 1011778 BC ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 821 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 4.59%, 5/4/2037 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4816 |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 12/2/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/2/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 12/2/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1209 |
| &nbsp;&nbsp;&nbsp; Emera US Finance LP 2.64%, 6/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5513 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. Series 16-A, (ICE LIBOR USD 3 Month + 5.44%), 6.75%, 6/15/2076 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1801 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Canada — continued** | **Canada — continued** | **Canada — continued** |
| &nbsp;&nbsp;&nbsp; GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 8/1/2025 (a) | 385 | 360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/1/2028 (a) | 2110 | 1810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 8/15/2029 (a) | 400 | 343 |
| &nbsp;&nbsp;&nbsp; NOVA Chemicals Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/1/2025 (a) | 570 | 537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/1/2027 (a) | 1033 | 927 |
| &nbsp;&nbsp;&nbsp; Precision Drilling Corp. 7.13%, 1/15/2026 (a) | 684 | 670 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) 4.11%, 6/8/2027 | 9410 | 9087 |
| &nbsp;&nbsp;&nbsp; TransCanada PipeLines Ltd. 3.75%, 10/16/2023 | 4090 | 4034 |
| &nbsp;&nbsp;&nbsp; Transcanada Trust Series 16-A, (ICE LIBOR USD 3 Month + 4.64%), 5.87%, 8/15/2076 (b) | 988 | 927 |
| &nbsp;&nbsp;&nbsp; Videotron Ltd. 5.38%, 6/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1287 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 37706 |
| **Chile — 0.2%** | **Chile — 0.2%** | **Chile — 0.2%** |
| &nbsp;&nbsp;&nbsp; Alfa Desarrollo SpA 4.55%, 9/27/2051 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3282 |
| &nbsp;&nbsp;&nbsp; Empresa de Transporte de Pasajeros Metro SA 4.70%, 5/7/2050 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2273 |
| &nbsp;&nbsp;&nbsp; Kenbourne Invest SA 6.88%, 11/26/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1581 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7136 |
| **China — 0.6%** | **China — 0.6%** | **China — 0.6%** |
| &nbsp;&nbsp;&nbsp; Country Garden Holdings Co. Ltd. 3.13%, 10/22/2025 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3012 |
| &nbsp;&nbsp;&nbsp; Huarong Finance 2017 Co. Ltd. 4.25%, 11/7/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2959 |
| &nbsp;&nbsp;&nbsp; Huarong Finance 2019 Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.13%), 5.82%, 2/24/2023 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 9/30/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 5/29/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1721 |
| &nbsp;&nbsp;&nbsp; Longfor Group Holdings Ltd. 4.50%, 1/16/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2750 |
| &nbsp;&nbsp;&nbsp; NXP BV 3.25%, 5/11/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2885 |
| &nbsp;&nbsp;&nbsp; TI Automotive Finance plc 3.75%, 4/15/2029 (c) | EUR 1,513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1216 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18188 |
| **Colombia — 0.1%** | **Colombia — 0.1%** | **Colombia — 0.1%** |
| &nbsp;&nbsp;&nbsp; AI Candelaria Spain SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 12/15/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 6/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1360 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2479 |
| **Denmark — 0.1%** | **Denmark — 0.1%** | **Denmark — 0.1%** |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.45%), 3.77%, 3/28/2025 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1257 |
| &nbsp;&nbsp;&nbsp; DKT Finance ApS 7.00%, 6/17/2023 (c) | EUR 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 811 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2068 |
| **France — 3.2%** | **France — 3.2%** | **France — 3.2%** |
| &nbsp;&nbsp;&nbsp; Accor SA (EUR Swap Annual 5 Year + 4.56%), 4.37%, 1/30/2024 (b) (c) (d) (e) | EUR 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 587 |
| &nbsp;&nbsp;&nbsp; Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/1/2027 (c) | EUR 1,550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 1/15/2028 (c) | EUR 2,159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/15/2029 (c) | EUR 595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1399 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **France — continued** | **France — continued** | **France — continued** |
| &nbsp;&nbsp;&nbsp; Banijay Entertainment SASU 3.50%, 3/1/2025 (c) | EUR 1,249 | 1232 |
| &nbsp;&nbsp;&nbsp; Banijay Group SAS 6.50%, 3/1/2026 (c) | EUR 1,500 | 1487 |
| &nbsp;&nbsp;&nbsp; Banque Federative du Credit Mutuel SA 3.75%, 7/20/2023 (a) | 7670 | 7594 |
| &nbsp;&nbsp;&nbsp; BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 7/21/2024 (a) | 8195 | 8036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 4/1/2026 (a) | 1880 | 1794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.31%), 2.28%, 1/20/2032 (a) (b) | 3640 | 2714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 3.12%, 10/19/2032 (a) (b) | 1765 | 1289 |
| &nbsp;&nbsp;&nbsp; Casino Guichard Perrachon SA 4.50%, 3/7/2024 (c) (f) | EUR 1,700 | 1557 |
| &nbsp;&nbsp;&nbsp; CGG SA 7.75%, 4/1/2027 (c) | EUR 1,176 | 1026 |
| &nbsp;&nbsp;&nbsp; Chrome Bidco SASU 3.50%, 5/31/2028 (c) | EUR 1,645 | 1502 |
| &nbsp;&nbsp;&nbsp; Chrome Holdco SASU 5.00%, 5/31/2029 (c) | EUR 952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 787 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/4/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.89%), 1.25%, 1/26/2027 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 4.37%), 4.00%, 12/23/2027 (b) (c) (d) (e) | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 937 |
| &nbsp;&nbsp;&nbsp; Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 12 Year + 3.04%), 5.00%, 1/22/2026 (b) (c) (d) (e) | EUR 2,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 3.37%), 2.87%, 12/15/2026 (b) (c) (d) (e) | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 3.20%), 3.00%, 9/3/2027 (b) (c) (d) (e) | EUR 1,800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 3.97%), 3.38%, 6/15/2030 (b) (c) (d) (e) | EUR 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625 |
| &nbsp;&nbsp;&nbsp; Elis SA 2.88%, 2/15/2026 (c) | EUR 2,300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2298 |
| &nbsp;&nbsp;&nbsp; Faurecia SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 6/15/2025 (c) | EUR 650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 6/15/2026 (c) | EUR 1,850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 6/15/2027 (c) | EUR 4,100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 6/15/2028 (c) | EUR 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 633 |
| &nbsp;&nbsp;&nbsp; Iliad Holding SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/15/2026 (c) | EUR 493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/15/2028 (c) | EUR 1,860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1807 |
| &nbsp;&nbsp;&nbsp; La Financiere Atalian SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 5/15/2024 (c) | EUR 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 5/15/2025 (c) | EUR 1,116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 993 |
| &nbsp;&nbsp;&nbsp; Loxam SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2027 (a) | EUR 1,136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2027 (c) | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 |
| &nbsp;&nbsp;&nbsp; Lune Holdings SARL 5.63%, 11/15/2028 (c) | EUR 1,599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1374 |
| &nbsp;&nbsp;&nbsp; Orange SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 2.36%), 2.38%, 1/15/2025 (b) (c) (d) (e) | EUR 1,400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR ICE Swap Rate 5 Year + 2.18%), 1.75%, 12/19/2026 (b) (c) (d) (e) | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 921 |
| &nbsp;&nbsp;&nbsp; Orano SA 4.88%, 9/23/2024 | EUR 1,200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1270 |
| &nbsp;&nbsp;&nbsp; Paprec Holding SA 3.50%, 7/1/2028 (c) | EUR 1,073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 |
| &nbsp;&nbsp;&nbsp; Parts Europe SA 6.50%, 7/16/2025 (c) | EUR 1,256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1313 |
| &nbsp;&nbsp;&nbsp; Quatrim SASU 5.88%, 1/15/2024 (c) | EUR 1,726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1752 |
| &nbsp;&nbsp;&nbsp; Renault SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 6/24/2025 (c) | EUR 1,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 9/28/2026 (c) | EUR 1,700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1565 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **France — continued** | **France — continued** | **France — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 10/4/2027 (c) | EUR 1,300 | 1102 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.39%), 9.38%, 5/22/2028 (a) (b) (d) (e) | 2408 | 2471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.51%), 5.38%, 11/18/2030 (a) (b) (d) (e) | 3175 | 2493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 3.34%, 1/21/2033 (a) (b) | 5032 | 3938 |
| &nbsp;&nbsp;&nbsp; SPIE SA 3.13%, 3/22/2024 (c) | EUR 3,200 | 3301 |
| &nbsp;&nbsp;&nbsp; TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.83%, 1/10/2030 | 4885 | 4356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 5/29/2050 | 800 | 578 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE (EUR Swap Annual 5 Year + 1.77%), 1.75%, 4/4/2024 (b) (c) (d) (e) | EUR 4,000 | 3948 |
| &nbsp;&nbsp;&nbsp; Vallourec SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 6/30/2026 (c) | EUR 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series IAI, 8.50%, 6/30/2026 | EUR 527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 92348 |
| **Germany — 2.2%** | **Germany — 2.2%** | **Germany — 2.2%** |
| &nbsp;&nbsp;&nbsp; Adler Pelzer Holding GmbH 4.13%, 4/1/2024 (c) | EUR 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp; BK LC Lux Finco1 SARL 5.25%, 4/30/2029 (c) | EUR 2,369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2194 |
| &nbsp;&nbsp;&nbsp; Cheplapharm Arzneimittel GmbH 3.50%, 2/11/2027 (c) | EUR 3,020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2812 |
| &nbsp;&nbsp;&nbsp; CT Investment GmbH 5.50%, 4/15/2026 (c) | EUR 1,025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 939 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.16%), 2.22%, 9/18/2024 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10770 | &nbsp;&nbsp;&nbsp;&nbsp; 10333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.26%), 3.74%, 1/7/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3912 |
| &nbsp;&nbsp;&nbsp; Deutsche Lufthansa AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 2/11/2025 (c) | EUR 1,200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 5/29/2026 (c) | EUR 4,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3783 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom International Finance BV 2.49%, 9/19/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2601 |
| &nbsp;&nbsp;&nbsp; Douglas GmbH 6.00%, 4/8/2026 (c) | EUR 3,100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2668 |
| &nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH 3.88% (Cash), 5/15/2027 (c) (g) (h) | EUR 2,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1812 |
| &nbsp;&nbsp;&nbsp; Kirk Beauty SUN GmbH 8.25% (PIK), 10/1/2026 (c) (g) | EUR 1,657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1012 |
| &nbsp;&nbsp;&nbsp; LANXESS AG (EUR Swap Annual 5 Year + 4.51%), 4.50%, 12/6/2076 (b) (c) | EUR 850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 869 |
| &nbsp;&nbsp;&nbsp; Nidda BondCo GmbH 5.00%, 9/30/2025 (c) | EUR 2,825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2456 |
| &nbsp;&nbsp;&nbsp; Nidda Healthcare Holding GmbH 3.50%, 9/30/2024 (c) | EUR 2,100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2089 |
| &nbsp;&nbsp;&nbsp; Renk AG 5.75%, 7/15/2025 (c) | EUR 1,492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1410 |
| &nbsp;&nbsp;&nbsp; Schaeffler AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 3/26/2027 (c) | EUR 2,800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/12/2028 (c) | EUR 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 566 |
| &nbsp;&nbsp;&nbsp; Techem Verwaltungsgesellschaft 675 mbH 2.00%, 7/15/2025 (c) | EUR 3,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2881 |
| &nbsp;&nbsp;&nbsp; thyssenkrupp AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 3/6/2023 (c) | EUR 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 2/22/2024 (c) | EUR 2,600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2650 |
| &nbsp;&nbsp;&nbsp; TK Elevator Holdco GmbH 6.63%, 7/15/2028 (c) | EUR 900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 773 |
| &nbsp;&nbsp;&nbsp; TK Elevator Midco GmbH 4.38%, 7/15/2027 (c) | EUR 1,316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1204 |
| &nbsp;&nbsp;&nbsp; TUI Cruises GmbH 6.50%, 5/15/2026 (c) | EUR 833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 709 |
| &nbsp;&nbsp;&nbsp; Volkswagen International Finance NV (EUR Swap Annual 5 Year + 3.75%), 3.50%, 6/17/2025 (b) (c) (d) (e) | EUR 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 674 |
| &nbsp;&nbsp;&nbsp; Volkswagen Leasing GmbH 0.63%, 7/19/2029 (c) | EUR 3,100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2596 |
| &nbsp;&nbsp;&nbsp; WEPA Hygieneprodukte GmbH 2.88%, 12/15/2027 (c) | EUR 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 422 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Germany — continued** | **Germany — continued** | **Germany — continued** |
| &nbsp;&nbsp;&nbsp; ZF Europe Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 2/23/2026 (c) | EUR 2,400 | 2213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 10/23/2027 (c) | EUR 1,700 | 1512 |
| &nbsp;&nbsp;&nbsp; ZF Finance GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 9/21/2025 (c) | EUR 1,300 | 1268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 5/3/2028 (c) | EUR 500 | 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 9/21/2028 (c) | EUR 2,400 | 2138 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 63533 |
| **Greece — 0.4%** | **Greece — 0.4%** | **Greece — 0.4%** |
| &nbsp;&nbsp;&nbsp; Alpha Bank SA 2.50%, 2/5/2023 (c) | EUR 10,700 | 11131 |
| **India — 0.3%** | **India — 0.3%** | **India — 0.3%** |
| &nbsp;&nbsp;&nbsp; Greenko Dutch BV 3.85%, 3/29/2026 (a) | &nbsp;&nbsp;&nbsp; 2085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1780 |
| &nbsp;&nbsp;&nbsp; Greenko Power II Ltd. 4.30%, 12/13/2028 (a) | &nbsp;&nbsp;&nbsp; 5367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4587 |
| &nbsp;&nbsp;&nbsp; NTPC Ltd. 3.75%, 4/3/2024 (c) | &nbsp;&nbsp;&nbsp; 2540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2475 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8842 |
| **Indonesia — 0.3%** | **Indonesia — 0.3%** | **Indonesia — 0.3%** |
| &nbsp;&nbsp;&nbsp; Indonesia Asahan Aluminium Persero PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp; 2380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.76%, 11/15/2048 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 542 |
| &nbsp;&nbsp;&nbsp; Pertamina Persero PT 3.65%, 7/30/2029 (a) | &nbsp;&nbsp;&nbsp; 3619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3303 |
| &nbsp;&nbsp;&nbsp; Perusahaan Perseroan Persero PT Perusahaan Listrik Negara |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 5/15/2027 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 6/30/2030 (a) | &nbsp;&nbsp;&nbsp; 2940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/5/2050 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 639 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9662 |
| **Ireland — 0.7%** | **Ireland — 0.7%** | **Ireland — 0.7%** |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/3/2023 | &nbsp;&nbsp;&nbsp; 4495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 10/29/2026 | &nbsp;&nbsp;&nbsp; 1370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/29/2028 | &nbsp;&nbsp;&nbsp; 2141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1809 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 7/1/2024 (a) | &nbsp;&nbsp;&nbsp; 2337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 2/21/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/1/2026 (a) | &nbsp;&nbsp;&nbsp; 1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 11/18/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 644 |
| &nbsp;&nbsp;&nbsp; eircom Finance DAC 3.50%, 5/15/2026 (c) | EUR 3,230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3071 |
| &nbsp;&nbsp;&nbsp; Park Aerospace Holdings Ltd. 5.50%, 2/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp; Smurfit Kappa Acquisitions ULC 2.88%, 1/15/2026 (c) | EUR 1,950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1987 |
| &nbsp;&nbsp;&nbsp; Smurfit Kappa Treasury ULC 1.50%, 9/15/2027 (c) | EUR 1,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1421 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20850 |
| **Israel — 0.3%** | **Israel — 0.3%** | **Israel — 0.3%** |
| &nbsp;&nbsp;&nbsp; Energean Israel Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/30/2026 (c) | &nbsp;&nbsp;&nbsp; 2289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/30/2028 (c) | &nbsp;&nbsp;&nbsp; 2205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2018 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Israel — continued** | **Israel — continued** | **Israel — continued** |
| &nbsp;&nbsp;&nbsp; Leviathan Bond Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/30/2025 (c) | 2229 | 2184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/30/2027 (c) | 2001 | 1950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 6/30/2030 (c) | 1390 | 1307 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9588 |
| **Italy — 2.4%** | **Italy — 2.4%** | **Italy — 2.4%** |
| &nbsp;&nbsp;&nbsp; Assicurazioni Generali SpA (EURIBOR 3 Month + 5.35%), 5.50%, 10/27/2047 (b) (c) | EUR 1,200 | 1269 |
| &nbsp;&nbsp;&nbsp; Atlantia SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 2/3/2025 (c) | EUR 900 | 876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 7/13/2027 (c) | EUR 1,600 | 1410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 2/12/2028 (c) | EUR 800 | 687 |
| &nbsp;&nbsp;&nbsp; Autostrade per l'Italia SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 11/4/2025 (c) | EUR 580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 6/26/2026 (c) | EUR 1,075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 2/1/2027 (c) | EUR 2,800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/4/2028 (c) | EUR 1,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 9/26/2029 (c) | EUR 2,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1696 |
| &nbsp;&nbsp;&nbsp; Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 7/12/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 4/6/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 7/12/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 7/12/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 6/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3242 |
| &nbsp;&nbsp;&nbsp; Guala Closures SpA 3.25%, 6/15/2028 (c) | EUR 1,416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1271 |
| &nbsp;&nbsp;&nbsp; Infrastrutture Wireless Italiane SpA 1.88%, 7/8/2026 (c) | EUR 1,200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1149 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 11/21/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 7.19%), 7.75%, 1/11/2027 (b) (c) (d) (e) | EUR 5,009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.60%), 4.20%, 6/1/2032 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.75%), 4.95%, 6/1/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1409 |
| &nbsp;&nbsp;&nbsp; Leonardo SpA 4.88%, 3/24/2025 | EUR 2,300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2440 |
| &nbsp;&nbsp;&nbsp; Lottomatica SpA 5.13%, 7/15/2025 (c) | EUR 2,699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2685 |
| &nbsp;&nbsp;&nbsp; Nexi SpA 1.63%, 4/30/2026 (c) | EUR 597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 558 |
| &nbsp;&nbsp;&nbsp; Pro-Gest SpA 3.25%, 12/15/2024 (c) | EUR 1,700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1145 |
| &nbsp;&nbsp;&nbsp; Rossini SARL 6.75%, 10/30/2025 (c) | EUR 1,750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1824 |
| &nbsp;&nbsp;&nbsp; Saipem Finance International BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 9/8/2023 (c) | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 1/7/2025 (c) | EUR 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489 |
| &nbsp;&nbsp;&nbsp; Shiba Bidco SpA 4.50%, 10/31/2028 (c) | EUR 1,800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1575 |
| &nbsp;&nbsp;&nbsp; TeamSystem SpA 3.50%, 2/15/2028 (c) | EUR 1,568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1371 |
| &nbsp;&nbsp;&nbsp; Telecom Italia Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/30/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 7/18/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1078 |
| &nbsp;&nbsp;&nbsp; Telecom Italia Finance SA 7.75%, 1/24/2033 | EUR 1,300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1427 |
| &nbsp;&nbsp;&nbsp; Telecom Italia SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/11/2024 (c) | EUR 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 755 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Italy — continued** | **Italy — continued** | **Italy — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 9/30/2025 (c) | EUR 1,900 | 1829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 5/25/2026 (c) | EUR 4,350 | 4153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/12/2027 (c) | EUR 800 | 693 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR ICE Swap Rate 5 Year + 7.33%), 7.50%, 6/3/2026 (b) (c) (d) (e) | EUR 781 | 813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (a) (b) | 2806 | 2378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 3.13%, 6/3/2032 (a) (b) | 2370 | 1801 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 68852 |
| **Japan — 0.8%** | **Japan — 0.8%** | **Japan — 0.8%** |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 9/13/2023 | 6259 | 6118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 5.06%, 9/12/2025 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.83%), 2.34%, 1/19/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5077 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. 3.75%, 7/19/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1671 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. 3.03%, 7/9/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2932 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 24321 |
| **Kazakhstan — 0.1%** | **Kazakhstan — 0.1%** | **Kazakhstan — 0.1%** |
| &nbsp;&nbsp;&nbsp; KazMunayGas National Co. JSC 5.75%, 4/19/2047 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4115 |
| **Kuwait — 0.1%** | **Kuwait — 0.1%** | **Kuwait — 0.1%** |
| &nbsp;&nbsp;&nbsp; MEGlobal Canada ULC 5.00%, 5/18/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2468 |
| **Luxembourg — 0.7%** | **Luxembourg — 0.7%** | **Luxembourg — 0.7%** |
| &nbsp;&nbsp;&nbsp; Altice Finco SA 4.75%, 1/15/2028 (c) | EUR 2,225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1772 |
| &nbsp;&nbsp;&nbsp; Altice France Holding SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 5/15/2027 (c) | EUR 1,200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 5/15/2027 (a) | EUR 2,823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/15/2028 (c) | EUR 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp; ARD Finance SA 5.00% (Cash), 6/30/2027 (c) (g) (h) | EUR 943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp; Herens Midco SARL 5.25%, 5/15/2029 (c) | EUR 1,986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1418 |
| &nbsp;&nbsp;&nbsp; INEOS Finance plc 3.38%, 3/31/2026 (c) | EUR 1,197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1129 |
| &nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings SA 6.50%, 3/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2290 |
| &nbsp;&nbsp;&nbsp; Matterhorn Telecom SA 3.13%, 9/15/2026 (c) | EUR 2,724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2559 |
| &nbsp;&nbsp;&nbsp; Monitchem HoldCo 3 SA 5.25%, 3/15/2025 (c) | EUR 1,188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1178 |
| &nbsp;&nbsp;&nbsp; PLT VII Finance SARL 4.63%, 1/5/2026 (c) | EUR 1,923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1874 |
| &nbsp;&nbsp;&nbsp; SES SA (EUR Swap Annual 5 Year + 3.19%), 2.87%, 5/27/2026 (b) (c) (d) (e) | EUR 2,200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1829 |
| &nbsp;&nbsp;&nbsp; Summer BC Holdco A SARL 9.25%, 10/31/2027 (c) | EUR 808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 651 |
| &nbsp;&nbsp;&nbsp; Summer BC Holdco B SARL 5.75%, 10/31/2026 (c) | EUR 1,583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1462 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20308 |
| **Malaysia — 0.2%** | **Malaysia — 0.2%** | **Malaysia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Petronas Capital Ltd. 3.40%, 4/28/2061 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4230 |
| **Mexico — 0.8%** | **Mexico — 0.8%** | **Mexico — 0.8%** |
| &nbsp;&nbsp;&nbsp; America Movil SAB de CV 2.88%, 5/7/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2150 |
| &nbsp;&nbsp;&nbsp; BBVA Bancomer SA (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.65%), 5.12%, 1/18/2033 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3690 |
| &nbsp;&nbsp;&nbsp; Cemex SAB de CV (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.53%), 5.12%, 6/8/2026 (a) (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4891 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Mexico — continued** | **Mexico — continued** | **Mexico — continued** |
| &nbsp;&nbsp;&nbsp; Fomento Economico Mexicano SAB de CV 3.50%, 1/16/2050 | 2490 | 1768 |
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos 5.95%, 1/28/2031 | 15830 | 11838 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 24337 |
| **Morocco — 0.1%** | **Morocco — 0.1%** | **Morocco — 0.1%** |
| &nbsp;&nbsp;&nbsp; OCP SA 6.88%, 4/25/2044 (c) | 2280 | 2062 |
| **Netherlands — 1.4%** | **Netherlands — 1.4%** | **Netherlands — 1.4%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 7/28/2025 (a) | 3555 | 3412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 4.67%), 4.37%, 9/22/2025 (b) (c) (d) (e) | EUR 2,000 | 1943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 4/18/2026 (a) | 2000 | 1904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.90%), 3.32%, 3/13/2037 (a) (b) | 4000 | 2897 |
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 9/26/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.73%), 1.00%, 9/24/2026 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 4.68%), 4.37%, 6/29/2027 (b) (c) (d) (e) | EUR 3,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.22%), 3.65%, 4/6/2028 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4932 |
| &nbsp;&nbsp;&nbsp; ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.64%), 3.87%, 3/28/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.86%), 3.88%, 5/16/2027 (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.07%), 4.25%, 3/28/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 423 |
| &nbsp;&nbsp;&nbsp; Lincoln Financing SARL 3.63%, 4/1/2024 (c) | EUR 560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 571 |
| &nbsp;&nbsp;&nbsp; Nobel Bidco BV 3.13%, 6/15/2028 (c) | EUR 1,559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1084 |
| &nbsp;&nbsp;&nbsp; OCI NV 3.63%, 10/15/2025 (c) | EUR 990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1022 |
| &nbsp;&nbsp;&nbsp; Q-Park Holding I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 3/1/2025 (c) | EUR 275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 3/1/2027 (c) | EUR 875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 766 |
| &nbsp;&nbsp;&nbsp; Sigma Holdco BV 5.75%, 5/15/2026 (c) | EUR 1,843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1359 |
| &nbsp;&nbsp;&nbsp; Titan Holdings II BV 5.13%, 7/15/2029 (c) | EUR 1,161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963 |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 8/15/2026 (c) (f) | EUR 1,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/15/2026 (a) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 8/15/2027 (a) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp; UPC Holding BV 5.50%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp; VZ Vendor Financing II BV 2.88%, 1/15/2029 (c) | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 814 |
| &nbsp;&nbsp;&nbsp; Ziggo Bond Co. BV 3.38%, 2/28/2030 (c) | EUR 3,624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2880 |
| &nbsp;&nbsp;&nbsp; Ziggo BV 2.88%, 1/15/2030 (c) | EUR 465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 401 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 41585 |
| **Peru — 0.1%** | **Peru — 0.1%** | **Peru — 0.1%** |
| &nbsp;&nbsp;&nbsp; Southern Copper Corp. 5.88%, 4/23/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3057 |
| **Portugal — 0.4%** | **Portugal — 0.4%** | **Portugal — 0.4%** |
| &nbsp;&nbsp;&nbsp; EDP - Energias de Portugal SA (EUR Swap Annual 5 Year + 1.84%), 1.70%, 7/20/2080 (b) (c) | EUR 3,900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3640 |
| &nbsp;&nbsp;&nbsp; EDP Finance BV 3.63%, 7/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9205 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12845 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Spain — 2.5%** | **Spain — 2.5%** | **Spain — 2.5%** |
| &nbsp;&nbsp;&nbsp; Abertis Infraestructuras Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 3.69%), 3.25%, 11/24/2025 (b) (c) (d) (e) | EUR 1,800 | 1632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 3.27%), 2.62%, 1/26/2027 (b) (c) (d) (e) | EUR 1,000 | 843 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA (EUR Swap Annual 5 Year + 6.46%), 6.00%, 1/15/2026 (b) (c) (d) (e) | EUR 7,600 | 7626 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.45%), 0.70%, 6/30/2024 (b) | 6000 | 5805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 8/18/2025 | 3600 | 3577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.75%), 4.75%, 11/12/2026 (b) (d) (e) | 3800 | 2947 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 6.22%), 6.37%, 9/19/2023 (b) (c) (d) (e) | EUR 6,000 | 6179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 6.50%), 6.75%, 6/13/2024 (b) (c) (d) (e) | EUR 6,400 | 6544 |
| &nbsp;&nbsp;&nbsp; Cellnex Telecom SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 4/18/2025 (c) | EUR 1,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 6/26/2029 | EUR 900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 783 |
| &nbsp;&nbsp;&nbsp; Cirsa Finance International Sarl 10.38%, 11/30/2027 (a) | EUR 390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 |
| &nbsp;&nbsp;&nbsp; Cirsa Finance International SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 12/20/2023 (c) | EUR 178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 5/22/2025 (c) | EUR 1,200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1186 |
| &nbsp;&nbsp;&nbsp; ContourGlobal Power Holdings SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 1/1/2026 (c) | EUR 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 1/1/2028 (c) | EUR 572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 482 |
| &nbsp;&nbsp;&nbsp; eDreams ODIGEO SA 5.50%, 7/15/2027 (c) | EUR 1,507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1278 |
| &nbsp;&nbsp;&nbsp; Grifols Escrow Issuer SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/2028 (c) | EUR 552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp; Grifols SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 2/15/2025 (c) | EUR 3,580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 5/1/2025 (c) | EUR 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/2027 (c) | EUR 2,001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1807 |
| &nbsp;&nbsp;&nbsp; Grupo Antolin-Irausa SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 4/30/2026 (c) | EUR 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 4/30/2028 (c) | EUR 555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 |
| &nbsp;&nbsp;&nbsp; Iberdrola International BV (EUR Swap Annual 5 Year + 2.06%), 2.62%, 12/26/2023 (b) (c) (d) (e) | EUR 3,400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3436 |
| &nbsp;&nbsp;&nbsp; Kaixo Bondco Telecom SA 5.13%, 9/30/2029 (c) | EUR 1,134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1009 |
| &nbsp;&nbsp;&nbsp; Lorca Telecom Bondco SA 4.00%, 9/18/2027 (c) | EUR 4,372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4117 |
| &nbsp;&nbsp;&nbsp; Repsol International Finance BV (EUR Swap Annual 10 Year + 4.20%), 4.50%, 3/25/2075 (b) (c) | EUR 3,550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3574 |
| &nbsp;&nbsp;&nbsp; Telefonica Emisiones SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 3/6/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 3/8/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1593 |
| &nbsp;&nbsp;&nbsp; Telefonica Europe BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 2.33%), 2.62%, 3/7/2023 (b) (c) (d) (e) | EUR 1,900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series NC5, (EUR Swap Annual 5 Year + 2.45%), 3.00%, 9/4/2023 (b) (c) (d) (e) | EUR 1,600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 10 Year + 4.30%), 5.87%, 3/31/2024 (b) (c) (d) (e) | EUR 2,900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 8 Year + 2.97%), 3.88%, 6/22/2026 (b) (c) (d) (e) | EUR 3,100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2956 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 73073 |
| **Sweden — 0.4%** | **Sweden — 0.4%** | **Sweden — 0.4%** |
| &nbsp;&nbsp;&nbsp; Dometic Group AB 3.00%, 5/8/2026 (c) | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 941 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Sweden — continued** | **Sweden — continued** | **Sweden — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.05%), 4.75%, 3/1/2031 (b) (c) <br> (d) (e)<br>| 3000 | 2449 |
| &nbsp;&nbsp;&nbsp; Verisure Holding AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 7/15/2026 (c) | EUR 1,207 | 1137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 2/15/2027 (c) | EUR 2,100 | 1890 |
| &nbsp;&nbsp;&nbsp; Verisure Midholding AB 5.25%, 2/15/2029 (c) | EUR 2,663 | 2234 |
| &nbsp;&nbsp;&nbsp; Volvo Car AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 1/24/2025 (c) | EUR 2,200 | 2195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 10/7/2027 (c) | EUR 600 | 564 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11410 |
| **Switzerland — 0.7%** | **Switzerland — 0.7%** | **Switzerland — 0.7%** |
| &nbsp;&nbsp;&nbsp; Credit Suisse Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 1/9/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.41%), 3.87%, 1/12/2029 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.73%), 4.19%, 4/1/2031 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 3.09%, 5/14/2032 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 5.02%), 9.02%, 11/15/2033 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swiss Re Finance Luxembourg SA (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.58%), 5.00%, <br> 4/2/2049 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 710 |
| &nbsp;&nbsp;&nbsp; UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.05%), 4.70%, 8/5/2027 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.40%), 4.99%, 8/5/2033 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2045 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20101 |
| **Thailand — 0.1%** | **Thailand — 0.1%** | **Thailand — 0.1%** |
| &nbsp;&nbsp;&nbsp; Thai Oil PCL 3.63%, 1/23/2023 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2501 |
| **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** |
| &nbsp;&nbsp;&nbsp; DP World Crescent Ltd. 4.85%, 9/26/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2431 |
| **United Kingdom — 4.8%** | **United Kingdom — 4.8%** | **United Kingdom — 4.8%** |
| &nbsp;&nbsp;&nbsp; 888 Acquisitions Ltd. 7.56%, 7/15/2027 (a) | EUR 1,070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 |
| &nbsp;&nbsp;&nbsp; Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.80%), 1.01%, 12/10/2024 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 5.30%, 8/9/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 5/9/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 3.05%), 5.09%, 6/20/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp; Bellis Acquisition Co. plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 2/16/2026 (c) | GBP 314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/16/2026 (c) | GBP 386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.04%), 4.38%, 6/22/2025 (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 3.88%), 3.25%, 3/22/2026 (b) (c) (d) (e) | EUR 5,700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.40%), 4.88%, 3/22/2030 (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5274 |
| &nbsp;&nbsp;&nbsp; Constellation Automotive Financing plc 4.88%, 7/15/2027 (c) | GBP 1,031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 822 |
| &nbsp;&nbsp;&nbsp; CPUK Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 8/28/2025 (c) | GBP 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/28/2027 (c) | GBP 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 |
| &nbsp;&nbsp;&nbsp; EC Finance plc 3.00%, 10/15/2026 (c) | EUR 2,639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2499 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United Kingdom — continued** | **United Kingdom — continued** | **United Kingdom — continued** |
| &nbsp;&nbsp;&nbsp; eG Global Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 2/7/2024 (c) | EUR 350 | 334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/7/2025 (c) | EUR 2,575 | 2338 |
| &nbsp;&nbsp;&nbsp; Heathrow Funding Ltd. 5.88%, 5/13/2041 (c) | GBP 1,900 | 2341 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.53%), 0.73%, 8/17/2024 (b) | 2570 | 2460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.93%), 2.10%, 6/4/2026 (b) | 2318 | 2101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.03%), 7.34%, 11/3/2026 (b) | 10420 | 10882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.10%), 2.25%, 11/22/2027 (b) | 8312 | 7164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.61%), 5.21%, 8/11/2028 (b) | 4135 | 3990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 2.01%, 9/22/2028 (b) | 8500 | 7054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 2.21%, 8/17/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.61%), 3.97%, 5/22/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1732 |
| &nbsp;&nbsp;&nbsp; Iceland Bondco plc 4.63%, 3/15/2025 (c) | GBP 1,025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1023 |
| &nbsp;&nbsp;&nbsp; INEOS Quattro Finance 1 plc 3.75%, 7/15/2026 (c) | EUR 1,967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1740 |
| &nbsp;&nbsp;&nbsp; INEOS Quattro Finance 2 plc 2.50%, 1/15/2026 (c) | EUR 454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp; INEOS Styrolution Group GmbH 2.25%, 1/16/2027 (c) | EUR 1,023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 890 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 3/25/2025 (c) | EUR 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 3/25/2029 (c) | EUR 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp; Jaguar Land Rover Automotive plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/2024 (c) | EUR 985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/15/2026 (c) | EUR 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/2026 (c) | EUR 1,006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 965 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc 4.05%, 8/16/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4404 |
| &nbsp;&nbsp;&nbsp; Motion Finco SARL 7.00%, 5/15/2025 (c) | EUR 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Building Society (U.K. Government Bonds 5 Year Note Generic Bid Yield + 5.63%), 5.75%, 6/20/2027 (b) (c) (d) <br> (e)<br>| GBP 298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp; NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.76%), 4.27%, 3/22/2025 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.63%), 6.00%, 12/29/2025 (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (U.K. Government Bonds 5 Year Note Generic Bid Yield + 4.99%), 5.13%, 5/12/2027 (b) (d) (e) | GBP 1,647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.27%), 5.52%, 9/30/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4715 |
| &nbsp;&nbsp;&nbsp; NGG Finance plc (EUR Swap Annual 5 Year + 2.53%), 2.13%, 9/5/2082 (b) (c) | EUR 2,534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2183 |
| &nbsp;&nbsp;&nbsp; Pinnacle Bidco plc 5.50%, 2/15/2025 (c) | EUR 1,644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1531 |
| &nbsp;&nbsp;&nbsp; Punch Finance plc 6.13%, 6/30/2026 (c) | GBP 1,486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1522 |
| &nbsp;&nbsp;&nbsp; RAC Bond Co. plc 5.25%, 11/4/2027 (c) | GBP 1,078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1004 |
| &nbsp;&nbsp;&nbsp; Rolls-Royce plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 2/16/2026 (c) | EUR 551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2027 (c) | GBP 970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1058 |
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 9/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.75%), 6.83%, 11/21/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.99%), 1.67%, 6/14/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4410 |
| &nbsp;&nbsp;&nbsp; Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.78%), 0.99%, 1/12/2025 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3913 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United Kingdom — continued** | **United Kingdom — continued** | **United Kingdom — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.10%), 7.78%, 11/16/2025 (a) (b) | 2200 | 2269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 3.97%, 3/30/2026 (a) (b) | 4300 | 4072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.45%), 7.77%, 11/16/2028 (a) (b) | 2000 | 2110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.85%), 4.64%, 4/1/2031 (a) (b) | 1619 | 1446 |
| &nbsp;&nbsp;&nbsp; Synthomer plc 3.88%, 7/1/2025 (c) | EUR 1,458 | 1347 |
| &nbsp;&nbsp;&nbsp; Virgin Media Finance plc 3.75%, 7/15/2030 (c) | EUR 600 | 496 |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance plc 5.00%, 4/15/2027 (c) | GBP 2,900 | 3180 |
| &nbsp;&nbsp;&nbsp; Virgin Media Vendor Financing Notes III DAC 4.88%, 7/15/2028 (c) | GBP 689 | 695 |
| &nbsp;&nbsp;&nbsp; Vodafone Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/30/2048 | 1550 | 1392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/19/2049 | 1649 | 1406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 2.67%), 3.10%, 1/3/2079 (b) (c) | EUR 2,200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EUR Swap Annual 5 Year + 3.00%), 2.62%, 8/27/2080 (b) (c) | EUR 616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series NC10, (EUR Swap Annual 5 Year + 3.48%), 3.00%, 8/27/2080 (b) (c) | EUR 2,900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2432 |
|  |  | &nbsp;&nbsp;&nbsp; 139707 |
| **United States — 35.5%** | **United States — 35.5%** | **United States — 35.5%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/21/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 5/14/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/21/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1337 |
| &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc. 5.00%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. 4.25%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5589 |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 8/15/2024 (c) | EUR 2,003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 8/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 |
| &nbsp;&nbsp;&nbsp; ADT Security Corp. (The) 4.13%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1506 |
| &nbsp;&nbsp;&nbsp; AES Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 7/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1373 |
| &nbsp;&nbsp;&nbsp; Aetna, Inc. 2.80%, 6/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6298 |
| &nbsp;&nbsp;&nbsp; Ahead DB Holdings LLC 6.63%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp; Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 3/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3855 |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 3/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp; Alcoa Nederland Holding BV 5.50%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1875 |
| &nbsp;&nbsp;&nbsp; Alexander Funding Trust 1.84%, 11/15/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 943 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc., REIT 1.88%, 2/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Allison Transmission, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/1/2027 (a) | 277 | 257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/1/2029 (a) | 3525 | 3332 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc. 2.70%, 6/3/2060 | 1465 | 926 |
| &nbsp;&nbsp;&nbsp; Ameren Corp. 3.50%, 1/15/2031 | 850 | 757 |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2026 | 129 | 122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/1/2027 | 1780 | 1673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 7/1/2028 | 885 | 852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2029 | 1970 | 1714 |
| &nbsp;&nbsp;&nbsp; American Express Co. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.85%), 3.55%, 9/15/2026 (b) (d) (e) | 1388 | 1103 |
| &nbsp;&nbsp;&nbsp; American Medical Systems Europe BV 1.63%, 3/8/2031 | EUR 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp; American Tower Corp., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5197 |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP 5.50%, 5/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 2/21/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 2/22/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3127 |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. 6.63%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp; ANGI Group LLC 3.88%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2275 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp; Antero Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 7/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932 |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc. 4.75%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 9/12/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 2/8/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 636 |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1748 |
| &nbsp;&nbsp;&nbsp; Arconic Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 5/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 657 |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 9/1/2028 (c) | EUR 990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 9/1/2029 (c) | EUR 727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 564 |
| &nbsp;&nbsp;&nbsp; Ardagh Packaging Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 8/15/2026 (c) | EUR 1,885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. 4.63%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1078 |
| &nbsp;&nbsp;&nbsp; Ashland Services BV 2.00%, 1/30/2028 (c) | EUR 407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 360 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 12/1/2033 | 4170 | 3276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 9/15/2053 | 3980 | 2810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 9/15/2055 | 1946 | 1365 |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc. 6.50%, 2/15/2030 (a) | 560 | 419 |
| &nbsp;&nbsp;&nbsp; ATI, Inc. 4.88%, 10/1/2029 | 440 | 375 |
| &nbsp;&nbsp;&nbsp; Audacy Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/1/2027 (a) | 416 | 106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/31/2029 (a) | 185 | 42 |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 7/15/2028 (c) | EUR 1,435 | 1378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1064 |
| &nbsp;&nbsp;&nbsp; Aviation Capital Group LLC 1.95%, 9/20/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2703 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC 4.75%, 6/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 |
| &nbsp;&nbsp;&nbsp; Ball Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/15/2023 | EUR 1,525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 3/15/2027 | EUR 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 551 |
| &nbsp;&nbsp;&nbsp; Baltimore Gas and Electric Co. 4.55%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 956 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series AA, (ICE LIBOR USD 3 Month + 3.90%), 6.10%, 3/17/2025 (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.06%), 3.56%, 4/23/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.96%), 1.73%, 7/22/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.05%), 2.55%, 2/4/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 2.09%, 6/14/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.19%), 2.88%, 10/22/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.53%), 1.90%, 7/23/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.37%), 1.92%, 10/24/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 2.69%, 4/22/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 2.30%, 7/21/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 2.57%, 10/20/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.93%), 2.68%, 6/19/2041 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1371 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. 7.50%, 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp; Bausch Health Americas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 4/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 1/31/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 12/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1105 |
| &nbsp;&nbsp;&nbsp; Belden, Inc. 3.38%, 7/15/2027 (c) | EUR 3,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2864 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway Energy Co. 4.60%, 5/1/2053 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 463 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Berry Global, Inc. 4.88%, 7/15/2026 (a) | 1284 | 1232 |
| &nbsp;&nbsp;&nbsp; Big River Steel LLC 6.63%, 1/31/2029 (a) | 400 | 384 |
| &nbsp;&nbsp;&nbsp; Biogen, Inc. 2.25%, 5/1/2030 | 596 | 492 |
| &nbsp;&nbsp;&nbsp; Black Knight InfoServ LLC 3.63%, 9/1/2028 (a) | 1673 | 1505 |
| &nbsp;&nbsp;&nbsp; Block, Inc. 3.50%, 6/1/2031 | 415 | 337 |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC 6.63%, 7/15/2026 (a) | 400 | 389 |
| &nbsp;&nbsp;&nbsp; Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/1/2039 | 2500 | 1814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 5/1/2040 | 1080 | 1029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 8/1/2059 | 1190 | 820 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc. 4.00%, 7/1/2029 (a) | 100 | 89 |
| &nbsp;&nbsp;&nbsp; Boyne USA, Inc. 4.75%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1415 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. 2.72%, 1/12/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1864 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. 2.95%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1324 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc. 4.25%, 2/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1068 |
| &nbsp;&nbsp;&nbsp; Burlington Northern Santa Fe LLC 4.45%, 1/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1309 |
| &nbsp;&nbsp;&nbsp; Caesars Resort Collection LLC 5.75%, 7/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp; Calpine Corp. 5.25%, 6/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. Series M, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 3.95%, <br> 9/1/2026 (b) (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4684 |
| &nbsp;&nbsp;&nbsp; Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.13%, 2/1/2026 (c) | EUR 1,421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
| &nbsp;&nbsp;&nbsp; Catalent Pharma Solutions, Inc. 5.00%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 5/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1966 |
| &nbsp;&nbsp;&nbsp; CD&R Smokey Buyer, Inc. 6.75%, 7/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2548 |
| &nbsp;&nbsp;&nbsp; CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 4/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp; Cedar Fair LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 5/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 991 |
| &nbsp;&nbsp;&nbsp; Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3422 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. 2.95%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5065 |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co. 4.13%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2868 |
| &nbsp;&nbsp;&nbsp; CF Industries, Inc. 4.95%, 6/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2620 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.17%), 4.00%, 6/1/2026 (b) (d) (e) | 2672 | 2271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, (US Treasury Yield Curve Rate T Note Constant Maturity 10 Year + 3.08%), 4.00%, 12/1/2030 (b) (d) (e) | 8297 | 6492 |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 1/15/2029 | 1280 | 1047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 6/1/2041 | 1260 | 852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 5/1/2047 | 2844 | 2353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 3/1/2050 | 1725 | 1294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 4/1/2051 | 4637 | 2962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 6/1/2052 | 1130 | 751 |
| &nbsp;&nbsp;&nbsp; Chemours Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp; Chesapeake Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 2/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1968 |
| &nbsp;&nbsp;&nbsp; Chevron USA, Inc. 2.34%, 8/12/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2170 |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 5/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 667 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series M, (ICE LIBOR USD 3 Month + 3.42%), 6.30%, 5/15/2024 (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.02%), 4.04%, 6/1/2024 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series W, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.60%), 4.00%, 12/10/2025 (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.42%), 3.88%, 2/18/2026 (b) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.55%), 5.61%, 9/29/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.77%), 1.12%, 1/28/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.56%), 3.89%, 1/10/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.91%), 4.41%, 3/31/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), 2.57%, 6/3/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.52%, 11/3/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 5/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 |
| &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp. 4.88%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 4/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1919 |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc. 4.63%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1534 |
| &nbsp;&nbsp;&nbsp; Coherent Corp. 5.00%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2766 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc. 3.38%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 745 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 1/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 11/1/2063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1931 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; CommScope Technologies LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/15/2025 (a) | 1208 | 1132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/15/2027 (a) | 392 | 299 |
| &nbsp;&nbsp;&nbsp; CommScope, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 3/1/2026 (a) | 1470 | 1422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 9/1/2029 (a) | 855 | 720 |
| &nbsp;&nbsp;&nbsp; Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 3/15/2026 (a) | 1877 | 1732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 4/1/2030 (a) | 765 | 390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/15/2030 (a) | 295 | 225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2031 (a) | 2275 | 1667 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc. 6.75%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2326 |
| &nbsp;&nbsp;&nbsp; Conagra Brands, Inc. 0.50%, 8/11/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4297 |
| &nbsp;&nbsp;&nbsp; Conduent Business Services LLC 6.00%, 11/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1263 |
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC 5.60%, 6/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2672 |
| &nbsp;&nbsp;&nbsp; Constellium SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2026 (c) | EUR 641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850 |
| &nbsp;&nbsp;&nbsp; Cooper-Standard Automotive, Inc. 5.63%, 11/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562 |
| &nbsp;&nbsp;&nbsp; Coty, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/15/2026 (c) | EUR 1,400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/15/2026 (c) | EUR 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374 |
| &nbsp;&nbsp;&nbsp; Crestwood Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 5/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp; Crown Americas LLC 4.75%, 2/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp; Crown European Holdings SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 9/30/2024 (c) | EUR 2,350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 5/15/2025 (c) | EUR 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 506 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 8/21/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2449 |
| &nbsp;&nbsp;&nbsp; Danaher Corp. 2.80%, 12/10/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2789 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; DCP Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 3/15/2023 | 580 | 577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/15/2037 (a) | 535 | 548 |
| &nbsp;&nbsp;&nbsp; Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.02%, 6/15/2026 | 14775 | 15089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/1/2026 | 370 | 366 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. 5.88%, 6/15/2028 | 439 | 439 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. 3.13%, 3/24/2031 | 3145 | 2647 |
| &nbsp;&nbsp;&nbsp; Discover Bank 4.20%, 8/8/2023 | 6995 | 6946 |
| &nbsp;&nbsp;&nbsp; Discovery Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 5/15/2030 | 445 | 375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 5/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1170 |
| &nbsp;&nbsp;&nbsp; DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 612 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp. 11.75%, 11/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1228 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. 2.45%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2545 |
| &nbsp;&nbsp;&nbsp; Duke Energy Progress LLC 3.40%, 4/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1257 |
| &nbsp;&nbsp;&nbsp; Dun & Bradstreet Corp. (The) 5.00%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp; Duquesne Light Holdings, Inc. 2.78%, 1/7/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1506 |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 6/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2123 |
| &nbsp;&nbsp;&nbsp; Edison International 3.55%, 11/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 807 |
| &nbsp;&nbsp;&nbsp; Elastic NV 4.13%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc. 3.88%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1132 |
| &nbsp;&nbsp;&nbsp; Embarq Corp. 8.00%, 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp; Encino Acquisition Partners Holdings LLC 8.50%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp; Endo Dac 6.00%, 6/30/2028 (a) (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp; Endo Luxembourg Finance Co. I Sarl 6.13%, 4/1/2029 (a) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2213 |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 3/31/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2748 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP 5.35%, 5/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1729 |
| &nbsp;&nbsp;&nbsp; Entegris Escrow Corp. 5.95%, 6/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1868 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc. 4.38%, 4/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp; Entergy Texas, Inc. 1.75%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1059 |
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC 3.20%, 2/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2651 |
| &nbsp;&nbsp;&nbsp; Envision Healthcare Corp. 8.75%, 10/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; EQM Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 331 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 7/1/2025 (a) | 35 | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/15/2029 (a) | 3055 | 2685 |
| &nbsp;&nbsp;&nbsp; EQT Corp. 3.90%, 10/1/2027 | 1175 | 1088 |
| &nbsp;&nbsp;&nbsp; ESC Co., Intelsat Jackson Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/1/2023 ‡ (i) | 902 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 10/15/2024 ‡ (i) | 2785 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; ESC GCBREGS EXIDE TECH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 8/1/2026 (i) | 265 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2028 (i) | 685 | 58 |
| &nbsp;&nbsp;&nbsp; Evergy Metro, Inc. Series 2020, 2.25%, 6/1/2030 | 1974 | 1640 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. 3.00%, 8/16/2039 | 3735 | 2926 |
| &nbsp;&nbsp;&nbsp; Fells Point Funding Trust 3.05%, 1/31/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2544 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp (SOFR + 1.66%), 4.34%, 4/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1333 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc. 1.63%, 7/1/2030 | EUR 5,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4425 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.02%, 3/6/2024 | EUR 2,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 6/14/2024 | GBP 946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.36%, 2/7/2025 | EUR 1,375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 9/15/2025 | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 1/9/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 5/28/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 6/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2511 |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 8/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/14/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7873 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1869 |
| &nbsp;&nbsp;&nbsp; Gannett Holdings LLC 6.00%, 11/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731 |
| &nbsp;&nbsp;&nbsp; GCI LLC 4.75%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1979 |
| &nbsp;&nbsp;&nbsp; GE Capital International Funding Co. Unlimited Co. 4.42%, 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2042 |
| &nbsp;&nbsp;&nbsp; General Electric Co. 4.13%, 9/19/2035 (c) | EUR 3,800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4106 |
| &nbsp;&nbsp;&nbsp; General Motors Co. 5.15%, 4/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1411 |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP 7.75%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp; Georgia Power Co. Series A, 2.10%, 7/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8286 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2737 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/1/2027 (a) | 1569 | 1487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/1/2029 (a) | 2765 | 2337 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.51%), 0.66%, 9/10/2024 (b) | 6095 | 5842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 4/1/2025 | 2830 | 2739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/21/2025 | 1815 | 1780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series T, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.97%), 3.80%, 5/10/2026 (b) (d) (e) | 3709 | 2934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/16/2026 | 6460 | 6145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.80%), 1.43%, 3/9/2027 (b) | 3770 | 3315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.51%), 4.39%, 6/15/2027 (b) | 4905 | 4733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.91%), 1.95%, 10/21/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), 2.64%, 2/24/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 2.62%, 4/22/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.65%, 10/21/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), 3.10%, 2/24/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.37%), 4.02%, 10/31/2038 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2247 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The) 5.00%, 7/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1503 |
| &nbsp;&nbsp;&nbsp; Graham Packaging Co., Inc. 7.13%, 8/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging International LLC 3.50%, 3/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 498 |
| &nbsp;&nbsp;&nbsp; Gray Oak Pipeline LLC 2.60%, 10/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 735 |
| &nbsp;&nbsp;&nbsp; Gray Television, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 7/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 5/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343 |
| &nbsp;&nbsp;&nbsp; Griffon Corp. 5.75%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1911 |
| &nbsp;&nbsp;&nbsp; HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 2/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 9/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 7/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 993 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. 5.50%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3341 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2024 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 989 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP 5.13%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc. 4.88%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 605 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Finance LLC 4.88%, 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1550 |
| &nbsp;&nbsp;&nbsp; Hologic, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 423 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 911 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/15/2028 | 83 | 85 |
| &nbsp;&nbsp;&nbsp; Hughes Satellite Systems Corp. 6.63%, 8/1/2026 | 1413 | 1314 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 1/8/2026 (a) | 1430 | 1243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/2/2026 (a) | 8025 | 7337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/2/2026 (c) | 2600 | 2377 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 5/1/2026 | 1120 | 1059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 5/1/2027 | 2728 | 2428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 8/15/2027 (a) | 1140 | 1015 |
| &nbsp;&nbsp;&nbsp; ILFC E-Capital Trust I (N/A + 1.55%), 5.12%, 12/21/2065 (a) (b) | 500 | 325 |
| &nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II (N/A + 1.80%), 5.37%, 12/21/2065 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 |
| &nbsp;&nbsp;&nbsp; Imola Merger Corp. 4.75%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2271 |
| &nbsp;&nbsp;&nbsp; International Game Technology plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 7/15/2024 (c) | EUR 1,400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 4/15/2028 (c) | EUR 2,042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1849 |
| &nbsp;&nbsp;&nbsp; IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 9/15/2025 (c) | EUR 325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 3/15/2026 (c) | EUR 756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 6/15/2028 (c) | EUR 2,699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 3/15/2029 (c) | EUR 480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 3/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1819 |
| &nbsp;&nbsp;&nbsp; ITC Holdings Corp. 2.95%, 5/14/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6261 |
| &nbsp;&nbsp;&nbsp; Jazz Securities DAC 4.38%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 830 |
| &nbsp;&nbsp;&nbsp; JELD-WEN, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 681 |
| &nbsp;&nbsp;&nbsp; Jersey Central Power & Light Co. 2.75%, 3/1/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2208 |
| &nbsp;&nbsp;&nbsp; Kansas City Southern 3.50%, 5/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 909 |
| &nbsp;&nbsp;&nbsp; Kennedy-Wilson, Inc. 4.75%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 812 |
| &nbsp;&nbsp;&nbsp; Keurig Dr. Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 4/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3089 |
| &nbsp;&nbsp;&nbsp; KeyBank NA (SOFR + 0.34%), 0.42%, 1/3/2024 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3513 |
| &nbsp;&nbsp;&nbsp; Kilroy Realty LP, REIT 2.50%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2413 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co. 2.25%, 5/25/2028 (c) | EUR 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 678 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. 4.85%, 4/27/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2379 |
| &nbsp;&nbsp;&nbsp; LABL, Inc. 6.75%, 7/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2077 |
| &nbsp;&nbsp;&nbsp; Lamar Media Corp. 4.00%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. 4.13%, 1/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 593 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1622 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 7/15/2029 (a) | 445 | 322 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/1/2024 (a) | 1670 | 1644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/15/2027 (a) | 450 | 451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2027 (a) | 1800 | 1624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/15/2028 (a) | 610 | 534 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. 4.25%, 4/1/2052 | 2908 | 2374 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/2026 (a) | 2389 | 2043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series G, 6.88%, 1/15/2028 | 184 | 148 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt International Finance SA 10.00%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc. Series FF, 4.63%, 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634 |
| &nbsp;&nbsp;&nbsp; Marriott Ownership Resorts, Inc. 4.75%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp; Masonite International Corp. 5.38%, 2/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 4/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 884 |
| &nbsp;&nbsp;&nbsp; Medtronic Global Holdings SCA 1.50%, 7/2/2039 | EUR 1,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1142 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 12/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 4/8/2038 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4560 |
| &nbsp;&nbsp;&nbsp; Metropolitan Life Global Funding I 3.30%, 3/21/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1901 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 3/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp; Millennium Escrow Corp. 6.63%, 8/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp; MIWD Holdco II LLC 5.50%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 558 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc. 3.88%, 11/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 688 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.46%), 0.53%, 1/25/2024 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.62%), 0.73%, 4/5/2024 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.15%), 2.72%, 7/22/2025 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.95%), 4.77%, 2/18/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.88%), 1.59%, 5/4/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11955 | &nbsp;&nbsp;&nbsp;&nbsp; 10532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 4.21%, 4/20/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 2.70%, 1/22/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.12%), 3.62%, 4/1/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.03%), 1.79%, 2/13/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.20%), 2.51%, 10/20/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.36%), 2.48%, 9/16/2036 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3015 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.46%), 3.97%, 7/22/2038 (b) | 3985 | 3393 |
| &nbsp;&nbsp;&nbsp; MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 3/1/2027 | 905 | 864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 8/15/2030 | 1246 | 1023 |
| &nbsp;&nbsp;&nbsp; Nabors Industries Ltd. 7.25%, 1/15/2026 (a) | 345 | 332 |
| &nbsp;&nbsp;&nbsp; Navient Corp. 5.00%, 3/15/2027 | 385 | 336 |
| &nbsp;&nbsp;&nbsp; NCR Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/1/2027 (a) | 455 | 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2028 (a) | 2595 | 2258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/15/2029 (a) | 650 | 559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/1/2029 (a) | 2290 | 2221 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 4/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 5/15/2029 | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 6/15/2030 (c) | EUR 1,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 973 |
| &nbsp;&nbsp;&nbsp; New Albertsons LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 8/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 5/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 4/1/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/1/2046 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 7/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1032 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. 2.25%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2073 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC 7.50%, 2/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp; NMG Holding Co., Inc. 7.13%, 4/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. 4.55%, 6/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1714 |
| &nbsp;&nbsp;&nbsp; Novelis Corp. 4.75%, 1/30/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 547 |
| &nbsp;&nbsp;&nbsp; Novelis Sheet Ingot GmbH 3.38%, 4/15/2029 (c) | EUR 1,098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 990 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 6/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 9/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 803 |
| &nbsp;&nbsp;&nbsp; OI European Group BV 3.13%, 11/15/2024 (c) | EUR 2,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2027 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. 3.88%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2178 |
| &nbsp;&nbsp;&nbsp; OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 841 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. 6.10%, 11/15/2032 | 1301 | 1325 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. 2.88%, 3/25/2031 | 1690 | 1414 |
| &nbsp;&nbsp;&nbsp; Organon & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 4/30/2028 (c) | EUR 1,756 | 1603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/30/2028 (a) | 2880 | 2592 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 6/15/2025 (a) | 400 | 398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/15/2027 (a) | 175 | 159 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 1/15/2025 (a) | 241 | 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/13/2027 (a) | 1130 | 1087 |
| &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 8/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 6/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp; PacifiCorp 3.30%, 3/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1269 |
| &nbsp;&nbsp;&nbsp; Pactiv Evergreen Group Issuer, Inc. 4.00%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1525 |
| &nbsp;&nbsp;&nbsp; Par Pharmaceutical, Inc. 7.50%, 4/1/2027 (a) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp; Paysafe Finance plc 3.00%, 6/15/2029 (c) | EUR 1,210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 920 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 5/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795 |
| &nbsp;&nbsp;&nbsp; PetSmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. 5.63%, 11/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5085 |
| &nbsp;&nbsp;&nbsp; Photo Holdings Merger Sub, Inc. 8.50%, 10/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 723 |
| &nbsp;&nbsp;&nbsp; Pike Corp. 5.50%, 9/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp. 5.88%, 9/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The) Series T, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.60%), <br> 3.40%, 9/15/2026 (b) (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4228 |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 877 |
| &nbsp;&nbsp;&nbsp; Presidio Holdings, Inc. 4.88%, 2/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3645 |
| &nbsp;&nbsp;&nbsp; Prestige Brands, Inc. 5.13%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1197 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/31/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp; PTC, Inc. 4.00%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. 1.60%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2101 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2029 | 340 | 355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2030 (a) | 75 | 67 |
| &nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. 3.75%, 11/1/2046 | 1880 | 1494 |
| &nbsp;&nbsp;&nbsp; Realogy Group LLC 5.25%, 4/15/2030 (a) | 645 | 474 |
| &nbsp;&nbsp;&nbsp; Regency Centers LP, REIT 2.95%, 9/15/2029 | 1185 | 997 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP, REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2027 | 3624 | 3310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2029 (a) | 755 | 660 |
| &nbsp;&nbsp;&nbsp; Rite Aid Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 7/1/2025 (a) | 947 | 711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1414 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. 2.95%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4383 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.63%, 8/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp; Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2262 |
| &nbsp;&nbsp;&nbsp; Sabre GLBL, Inc. 7.38%, 9/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1219 |
| &nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 |
| &nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 1/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp; Seagate HDD Cayman 4.09%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 740 |
| &nbsp;&nbsp;&nbsp; Sempra Energy 3.80%, 2/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1518 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2985 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp; Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 811 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 3/15/2025 | EUR 2,100 | 2131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 6/1/2028 | EUR 333 | 296 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/1/2027 (a) | 2510 | 2342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/15/2028 (a) | 440 | 389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/1/2029 (a) | 251 | 234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/1/2030 (a) | 940 | 793 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/31/2024 (a) | 625 | 608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/15/2027 (a) | 4110 | 3711 |
| &nbsp;&nbsp;&nbsp; Six Flags Theme Parks, Inc. 7.00%, 7/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 495 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. 6.63%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc. 4.63%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, 4.20%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 13-A, 3.90%, 3/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 2/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1129 |
| &nbsp;&nbsp;&nbsp; Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 20-A, 1.75%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2322 |
| &nbsp;&nbsp;&nbsp; Southwestern Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 1/23/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1091 |
| &nbsp;&nbsp;&nbsp; Spectrum Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/1/2026 (c) | EUR 1,450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 3/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1820 |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc. 9.38%, 11/30/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 484 |
| &nbsp;&nbsp;&nbsp; Sprint Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2016 |
| &nbsp;&nbsp;&nbsp; Sprint LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 2/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795 |
| &nbsp;&nbsp;&nbsp; SRS Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 7/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 7/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc. 5.50%, 9/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2714 |
| &nbsp;&nbsp;&nbsp; Stagwell Global LLC 5.63%, 8/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 466 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/21/2026 (c) | EUR 582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2028 (a) | 3900 | 3535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 7/15/2030 (a) | 420 | 344 |
| &nbsp;&nbsp;&nbsp; Staples, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2026 (a) | 3065 | 2734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 4/15/2027 (a) | 1210 | 885 |
| &nbsp;&nbsp;&nbsp; Summit Materials LLC 5.25%, 1/15/2029 (a) | 583 | 538 |
| &nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC 8.50%, 10/15/2026 (a) | 550 | 528 |
| &nbsp;&nbsp;&nbsp; Switch Ltd. 3.75%, 9/15/2028 (a) | 1385 | 1396 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc. 4.00%, 6/15/2029 (a) | 2500 | 2083 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 4/14/2025 | 590 | 569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 4/14/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/14/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 641 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 10/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 1/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/31/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/1/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1337 |
| &nbsp;&nbsp;&nbsp; Targa Resources Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1029 |
| &nbsp;&nbsp;&nbsp; TEGNA, Inc. 4.63%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476 |
| &nbsp;&nbsp;&nbsp; Tempur Sealy International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 9/1/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 2/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 10/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC 5.00%, 1/31/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. 0.88%, 10/1/2031 | EUR 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 564 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc. 6.25%, 3/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 486 |
| &nbsp;&nbsp;&nbsp; Transocean Pontus Ltd. 6.13%, 8/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp; Transocean Poseidon Ltd. 6.88%, 2/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp; Transocean Proteus Ltd. 6.25%, 12/1/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Transocean, Inc. 11.50%, 1/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp; Travel + Leisure Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 10/1/2025 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/1/2027 (f) | 99 | 93 |
| &nbsp;&nbsp;&nbsp; Trinseo Materials Operating SCA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 9/1/2025 (a) | 946 | 758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/1/2029 (a) | 730 | 464 |
| &nbsp;&nbsp;&nbsp; TripAdvisor, Inc. 7.00%, 7/15/2025 (a) | 2317 | 2288 |
| &nbsp;&nbsp;&nbsp; Triton Water Holdings, Inc. 6.25%, 4/1/2029 (a) | 466 | 363 |
| &nbsp;&nbsp;&nbsp; Triumph Group, Inc. 7.75%, 8/15/2025 | 715 | 613 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. 4.50%, 8/15/2029 (a) | 1460 | 1271 |
| &nbsp;&nbsp;&nbsp; UGI International LLC 2.50%, 12/1/2029 (c) | EUR 1,985 | 1552 |
| &nbsp;&nbsp;&nbsp; Union Electric Co. 3.90%, 4/1/2052 | 885 | 722 |
| &nbsp;&nbsp;&nbsp; United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 377 |
| &nbsp;&nbsp;&nbsp; United States Cellular Corp. 6.70%, 12/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2444 |
| &nbsp;&nbsp;&nbsp; United States Steel Corp. 6.88%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. 5.35%, 2/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3925 |
| &nbsp;&nbsp;&nbsp; US Foods, Inc. 4.75%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc. 6.25%, 5/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2288 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 1/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 3/21/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 11/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 626 |
| &nbsp;&nbsp;&nbsp; Viavi Solutions, Inc. 3.75%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp; VICI Properties LP, REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 2/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp; Vista Outdoor, Inc. 4.50%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3081 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/1/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 1/30/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1007 |
| &nbsp;&nbsp;&nbsp; VMware, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2973 |
| &nbsp;&nbsp;&nbsp; Wabash National Corp. 4.50%, 10/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1945 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.76%, 3/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 3/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 3/15/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1413 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.60%), 1.65%, 6/2/2024 (b) | 7000 | 6873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series BB, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.45%), 3.90%, 3/15/2026 (b) (d) (e) | 4790 | 4173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.17%), 3.20%, 6/17/2027 (b) | 7030 | 6544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.51%), 3.53%, 3/24/2028 (b) | 4820 | 4477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.31%), 3.58%, 5/22/2028 (b) | 3320 | 3081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.57%, 2/11/2031 (b) | 4205 | 3518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/17/2045 | 1210 | 1068 |
| &nbsp;&nbsp;&nbsp; Welltower, Inc., REIT 3.85%, 6/15/2032 | 1390 | 1209 |
| &nbsp;&nbsp;&nbsp; Wesco Aircraft Holdings, Inc. 9.00%, 11/15/2026 (a) | 1254 | 796 |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 6/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp; William Carter Co. (The) 5.63%, 3/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 721 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The) 3.50%, 10/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2790 |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 7/15/2028 (c) | EUR 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 8/15/2031 (c) | EUR 728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584 |
| &nbsp;&nbsp;&nbsp; WP Carey, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 2/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 4/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2070 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC 4.88%, 6/15/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp; Wynn Las Vegas LLC 5.50%, 3/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1800 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC 5.13%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2667 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc. 4.00%, 3/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies LLC 3.88%, 2/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 938 |
|  |  | 1038179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $2,127,236)<br>|  | 1831325 |
| **Foreign Government Securities — 14.9%** | **Foreign Government Securities — 14.9%** | **Foreign Government Securities — 14.9%** |
| **Angola — 0.4%** | **Angola — 0.4%** | **Angola — 0.4%** |
| &nbsp;&nbsp;&nbsp; Republic of Angola |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/26/2029 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 4/14/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 11/26/2049 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3636 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11373 |
| **Bahrain — 0.1%** | **Bahrain — 0.1%** | **Bahrain — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Bahrain 6.00%, 9/19/2044 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3112 |
| **Brazil — 1.8%** | **Brazil — 1.8%** | **Brazil — 1.8%** |
| &nbsp;&nbsp;&nbsp; Notas do Tesouro Nacional 10.00%, 1/1/2027 | BRL 290,000 | &nbsp;&nbsp;&nbsp;&nbsp; 51266 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Canada — 1.7%** | **Canada — 1.7%** | **Canada — 1.7%** |
| &nbsp;&nbsp;&nbsp; Canada Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25%, 5/1/2023 | CAD 33,649 | 24610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 6/1/2023 | CAD 33,357 | 24459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 49069 |
| **Colombia — 0.3%** | **Colombia — 0.3%** | **Colombia — 0.3%** |
| &nbsp;&nbsp;&nbsp; Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 4/15/2031 | 5580 | 4129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 5/15/2049 | 5688 | 3825 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7954 |
| **Costa Rica — 0.1%** | **Costa Rica — 0.1%** | **Costa Rica — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Costa Rica 6.13%, 2/19/2031 (c) | 3310 | 3202 |
| **Dominican Republic — 0.2%** | **Dominican Republic — 0.2%** | **Dominican Republic — 0.2%** |
| &nbsp;&nbsp;&nbsp; Dominican Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 1/29/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 1/27/2045 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1461 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6130 |
| **Ecuador — 0.1%** | **Ecuador — 0.1%** | **Ecuador — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Ecuador 2.50%, 7/31/2035 (c) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2556 |
| **Ethiopia — 0.1%** | **Ethiopia — 0.1%** | **Ethiopia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Federal Democratic Republic of Ethiopia 6.63%, 12/11/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1369 |
| **Israel — 0.2%** | **Israel — 0.2%** | **Israel — 0.2%** |
| &nbsp;&nbsp;&nbsp; State of Israel Government Bond 3.38%, 1/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5970 |
| **Italy — 1.5%** | **Italy — 1.5%** | **Italy — 1.5%** |
| &nbsp;&nbsp;&nbsp; Italian Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 5/6/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13407 | &nbsp;&nbsp;&nbsp;&nbsp; 12460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/17/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20243 | &nbsp;&nbsp;&nbsp;&nbsp; 18966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15840 | &nbsp;&nbsp;&nbsp;&nbsp; 13076 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 44502 |
| **Ivory Coast — 0.4%** | **Ivory Coast — 0.4%** | **Ivory Coast — 0.4%** |
| &nbsp;&nbsp;&nbsp; Republic of Cote d'Ivoire |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/3/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/15/2033 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/17/2040 (a) | EUR 7,400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5878 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11700 |
| **Jamaica — 0.2%** | **Jamaica — 0.2%** | **Jamaica — 0.2%** |
| &nbsp;&nbsp;&nbsp; Jamaica Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 3/15/2039  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 7/28/2045  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6284 |
| **Kazakhstan — 0.2%** | **Kazakhstan — 0.2%** | **Kazakhstan — 0.2%** |
| &nbsp;&nbsp;&nbsp; Republic of Kazakhstan 1.50%, 9/30/2034 (a) | EUR 6,252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4603 |
| **Kenya — 0.2%** | **Kenya — 0.2%** | **Kenya — 0.2%** |
| &nbsp;&nbsp;&nbsp; Republic of Kenya 6.30%, 1/23/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6456 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Lebanon — 0.0% ^** | **Lebanon — 0.0% ^** | **Lebanon — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Lebanese Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 4/22/2024 (c) (i) | 3207 | 186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 11/3/2028 (c) (i) | 3134 | 174 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 360 |
| **Mexico — 2.7%** | **Mexico — 2.7%** | **Mexico — 2.7%** |
| &nbsp;&nbsp;&nbsp; Mex Bonos Desarr Fix Rt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 5/29/2031 | MXN 851,970 | 40307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 11/18/2038 | MXN 511,000 | 24805 |
| &nbsp;&nbsp;&nbsp; United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 5/24/2061 | 7068 | 4780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 4/19/2071 | 11835 | 7900 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 77792 |
| **Nigeria — 0.3%** | **Nigeria — 0.3%** | **Nigeria — 0.3%** |
| &nbsp;&nbsp;&nbsp; Federal Republic of Nigeria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 2/16/2032 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 9/28/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 11/28/2047 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6716 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9944 |
| **Oman — 0.2%** | **Oman — 0.2%** | **Oman — 0.2%** |
| &nbsp;&nbsp;&nbsp; Sultanate of Oman Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/17/2028 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/17/2048 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3161 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6293 |
| **Paraguay — 0.4%** | **Paraguay — 0.4%** | **Paraguay — 0.4%** |
| &nbsp;&nbsp;&nbsp; Republic of Paraguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2026 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 4/28/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 6/28/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 3/13/2048 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 3/30/2050 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1915 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11791 |
| **Philippines — 0.1%** | **Philippines — 0.1%** | **Philippines — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Philippines 2.95%, 5/5/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3969 |
| **Portugal — 0.4%** | **Portugal — 0.4%** | **Portugal — 0.4%** |
| &nbsp;&nbsp;&nbsp; Portuguese Republic 5.13%, 10/15/2024 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12380 | &nbsp;&nbsp;&nbsp;&nbsp; 12371 |
| **Qatar — 0.3%** | **Qatar — 0.3%** | **Qatar — 0.3%** |
| &nbsp;&nbsp;&nbsp; State of Qatar |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/2/2046 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 4/23/2048 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 4/16/2050 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2690 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8454 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Romania — 0.3%** | **Romania — 0.3%** | **Romania — 0.3%** |
| &nbsp;&nbsp;&nbsp; Romania Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/27/2029 (a) | EUR 5,389 | 5687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/3/2049 (a) | EUR 3,467 | 2708 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8395 |
| **Senegal — 0.3%** | **Senegal — 0.3%** | **Senegal — 0.3%** |
| &nbsp;&nbsp;&nbsp; Republic of Senegal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/23/2033 (c) | 6380 | 5312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/13/2048 (c) | 6320 | 4526 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9838 |
| **Serbia, Republic Of — 0.2%** | **Serbia, Republic Of — 0.2%** | **Serbia, Republic Of — 0.2%** |
| &nbsp;&nbsp;&nbsp; Republic of Serbia 1.50%, 6/26/2029 (a) | EUR 7,700 | 5993 |
| **South Africa — 1.8%** | **South Africa — 1.8%** | **South Africa — 1.8%** |
| &nbsp;&nbsp;&nbsp; Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 2/28/2031 | ZAR 326,737 | &nbsp;&nbsp;&nbsp;&nbsp; 15194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 2/28/2035 | ZAR 547,332 | &nbsp;&nbsp;&nbsp;&nbsp; 26757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/30/2049  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 52103 |
| **United Arab Emirates — 0.4%** | **United Arab Emirates — 0.4%** | **United Arab Emirates — 0.4%** |
| &nbsp;&nbsp;&nbsp; United Arab Emirates Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 7/7/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/28/2050 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 7/7/2052 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3390 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12483 |
| **Uruguay — 0.0% ^** | **Uruguay — 0.0% ^** | **Uruguay — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Oriental Republic of Uruguay 5.10%, 6/18/2050  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government Securities <br>(Cost $498,077)<br>|  | &nbsp;&nbsp;&nbsp; 436478 |
| **Convertible Bonds — 4.7%** | **Convertible Bonds — 4.7%** | **Convertible Bonds — 4.7%** |
| **Austria — 0.0% ^** | **Austria — 0.0% ^** | **Austria — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; ams-OSRAM AG 2.13%, 11/3/2027 (c) | EUR 2,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1423 |
| **China — 0.1%** | **China — 0.1%** | **China — 0.1%** |
| &nbsp;&nbsp;&nbsp; GDS Holdings Ltd. 2.00%, 6/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3317 |
| **Israel — 0.2%** | **Israel — 0.2%** | **Israel — 0.2%** |
| &nbsp;&nbsp;&nbsp; Nice Ltd. Zero Coupon, 9/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6067 |
| **Singapore — 0.1%** | **Singapore — 0.1%** | **Singapore — 0.1%** |
| &nbsp;&nbsp;&nbsp; Sea Ltd. 2.38%, 12/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2408 |
| **United States — 4.3%** | **United States — 4.3%** | **United States — 4.3%** |
| &nbsp;&nbsp;&nbsp; 8x8, Inc. 0.50%, 2/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2644 |
| &nbsp;&nbsp;&nbsp; Air Transport Services Group, Inc. 1.13%, 10/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1839 |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc. Zero Coupon, 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5700 |
| &nbsp;&nbsp;&nbsp; Alarm.com Holdings, Inc. Zero Coupon, 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3990 |
| &nbsp;&nbsp;&nbsp; ATI, Inc. 3.50%, 6/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3679 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Convertible Bonds — continued** | **Convertible Bonds — continued** | **Convertible Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Bentley Systems, Inc. 0.13%, 1/15/2026 | 2506 | 2316 |
| &nbsp;&nbsp;&nbsp; BigCommerce Holdings, Inc. 0.25%, 10/1/2026 | 6136 | 4331 |
| &nbsp;&nbsp;&nbsp; Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 3/1/2025 | 1725 | 1684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 5/1/2026 | 3185 | 2556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25%, 11/1/2027 | 840 | 634 |
| &nbsp;&nbsp;&nbsp; Box, Inc. Zero Coupon, 1/15/2026 | 2759 | 3293 |
| &nbsp;&nbsp;&nbsp; Cheesecake Factory, Inc. (The) 0.38%, 6/15/2026 | 3957 | 3287 |
| &nbsp;&nbsp;&nbsp; Confluent, Inc. Zero Coupon, 1/15/2027 (a) | 500 | 376 |
| &nbsp;&nbsp;&nbsp; Dropbox, Inc. Zero Coupon, 3/1/2028 | 7816 | 7050 |
| &nbsp;&nbsp;&nbsp; Envestnet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 8/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 12/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2174 |
| &nbsp;&nbsp;&nbsp; Eventbrite, Inc. 0.75%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1331 |
| &nbsp;&nbsp;&nbsp; Everbridge, Inc. Zero Coupon, 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4163 |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. Zero Coupon, 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3701 |
| &nbsp;&nbsp;&nbsp; Greenbrier Cos., Inc. (The) 2.88%, 4/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5014 |
| &nbsp;&nbsp;&nbsp; Guess?, Inc. 2.00%, 4/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2340 |
| &nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp. 0.50%, 8/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3127 |
| &nbsp;&nbsp;&nbsp; Itron, Inc. Zero Coupon, 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2620 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp. 0.50%, 4/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1866 |
| &nbsp;&nbsp;&nbsp; Kite Realty Group LP REIT, 0.75%, 4/1/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2335 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. 2.50%, 3/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3629 |
| &nbsp;&nbsp;&nbsp; Lyft, Inc. 1.50%, 5/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3869 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. 1.63%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2299 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. Zero Coupon, 5/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9279 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc. 0.38%, 6/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6463 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust REIT, 1.75%, 12/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3089 |
| &nbsp;&nbsp;&nbsp; PetIQ, Inc. 4.00%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510 |
| &nbsp;&nbsp;&nbsp; RingCentral, Inc. Zero Coupon, 3/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1689 |
| &nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc. 0.63%, 6/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5643 |
| &nbsp;&nbsp;&nbsp; Snap, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon,5/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 3/1/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp; Southwest Airlines Co. 1.25%, 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3570 |
| &nbsp;&nbsp;&nbsp; Summit Hotel Properties, Inc. REIT, 1.50%, 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1056 |
| &nbsp;&nbsp;&nbsp; Topgolf Callaway Brands Corp. 2.75%, 5/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1948 |
| &nbsp;&nbsp;&nbsp; TripAdvisor, Inc. 0.25%, 4/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3454 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc. Zero Coupon, 1/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2064 |
| &nbsp;&nbsp;&nbsp; Wolfspeed, Inc. 0.25%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1983 |
|  |  | &nbsp;&nbsp;&nbsp; 126087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Convertible Bonds <br>(Cost $150,081)<br>|  | &nbsp;&nbsp;&nbsp; 139302 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — 3.9%** | **Commercial Mortgage-Backed Securities — 3.9%** | **Commercial Mortgage-Backed Securities — 3.9%** |
| **United States — 3.9%** | **United States — 3.9%** | **United States — 3.9%** |
| &nbsp;&nbsp;&nbsp; A10 Revolving Asset Financing I LLC , 8.30%, 1/9/2020 ‡ (h) | 250 | 248 |
| &nbsp;&nbsp;&nbsp; BAMLL Re-REMIC Trust Series 2013-FRR3, Class A, PO, 6/26/2023 (a) | 4375 | 4153 |
| &nbsp;&nbsp;&nbsp; BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-BN10, Class C, 4.16%, 2/15/2061 ‡ (h) | 1168 | 987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-BN13, Class C, 4.73%, 8/15/2061 ‡ (h) | 1703 | 1434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN20, Class XA, IO, 0.94%, 9/15/2062 (h) | 7659 | 323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN20, Class C, 3.78%, 9/15/2062 ‡ (h) | 2556 | 1992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN25, Class XA, IO, 1.00%, 1/15/2063 (h) | 32353 | 1518 |
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust Series 2019-B11, Class C, 3.75%, 5/15/2052 ‡ (h) | 5352 | 4129 |
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust Series 2021-XL2, Class A, 4.56%, 10/15/2038 (a) (h) | 7215 | 6880 |
| &nbsp;&nbsp;&nbsp; BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-CLS, Class A, 5.76%, 10/13/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-LBA6, Class A, 4.79%, 1/15/2039 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9932 |
| &nbsp;&nbsp;&nbsp; Cascade Funding Mortgage Trust Series 2021-FRR1, Class BK45, 2.10%, 2/28/2025 ‡ (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13900 | &nbsp;&nbsp;&nbsp;&nbsp; 12188 |
| &nbsp;&nbsp;&nbsp; CCUBS Commercial Mortgage Trust Series 2017-C1, Class C, 4.58%, 11/15/2050 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp; CD Mortgage Trust Series 2016-CD2, Class C, 4.11%, 11/10/2049 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust Series 2014-GC23, Class C, 4.58%, 7/10/2047 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332 |
| &nbsp;&nbsp;&nbsp; FHLMC, Multi-Family Structured Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K033, Class X1, IO, 0.40%, 7/25/2023 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K729, Class X1, IO, 0.47%, 10/25/2024 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K731, Class X3, IO, 2.18%, 5/25/2025 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K739, Class X1, IO, 1.32%, 9/25/2027 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K104, Class X1, IO, 1.25%, 1/25/2030 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K108, Class X1, IO, 1.81%, 3/25/2030 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K117, Class X1, IO, 1.34%, 8/25/2030 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K-1511, Class X3, IO, 3.54%, 4/25/2034 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K153, Class X3, IO, 3.91%, 4/25/2035 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K036, Class X3, IO, 2.18%, 12/25/2041 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K041, Class X3, IO, 1.70%, 11/25/2042 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K054, Class X3, IO, 1.65%, 4/25/2043 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K047, Class X3, IO, 1.55%, 6/25/2043 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K050, Class X3, IO, 1.61%, 10/25/2043 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K052, Class X3, IO, 1.67%, 1/25/2044 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K726, Class X3, IO, 2.22%, 7/25/2044 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K067, Class X3, IO, 2.19%, 9/25/2044 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K729, Class X3, IO, 2.03%, 11/25/2044 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K724, Class X3, IO, 1.93%, 12/25/2044 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K071, Class X3, IO, 2.08%, 11/25/2045 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K072, Class X3, IO, 2.21%, 12/25/2045 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K089, Class X3, IO, 2.38%, 1/25/2046 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K078, Class X3, IO, 2.29%, 6/25/2046 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K088, Class X3, IO, 2.43%, 2/25/2047 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K094, Class X3, IO, 2.20%, 7/25/2047 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 487 |
| &nbsp;&nbsp;&nbsp; FNMA ACES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-M39, Class X2, IO, 1.66%, 8/25/2031 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-M4, Class X2, IO, 2.70%, 1/25/2039 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; FREMF Series 2018-KF46, Class B, 5.75%, 3/25/2028 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 785 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; FREMF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF29, Class B, 7.35%, 2/25/2024 (a) (h) | 624 | 624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF31, Class B, 6.70%, 4/25/2024 (a) (h) | 685 | 680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF36, Class B, 6.45%, 8/25/2024 (a) (h) | 527 | 526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF38, Class B, 6.30%, 9/25/2024 (a) (h) | 251 | 246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF41, Class B, 6.30%, 11/25/2024 (a) (h) | 304 | 302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF42, Class B, 6.00%, 12/25/2024 (a) (h) | 647 | 632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF45, Class B, 5.75%, 3/25/2025 (a) (h) | 214 | 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF47, Class B, 5.80%, 5/25/2025 (a) (h) | 156 | 155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-KF24, Class B, 8.80%, 10/25/2026 (a) (h) | 172 | 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF40, Class B, 6.50%, 11/25/2027 (a) (h) | 537 | 530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF50, Class B, 5.70%, 7/25/2028 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K729, Class B, 3.80%, 11/25/2049 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K728, Class B, 3.77%, 11/25/2050 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K728, Class C, 3.77%, 11/25/2050 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1205 |
| &nbsp;&nbsp;&nbsp; GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-48, IO, 0.35%, 7/16/2054 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-9, IO, 0.65%, 1/16/2057 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-151, IO, 0.75%, 9/16/2057 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-157, IO, 0.89%, 11/16/2057 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-119, IO, 0.77%, 4/16/2058 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-54, IO, 0.68%, 12/16/2058 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-23, IO, 0.61%, 5/16/2059 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust Series 2015-GC30, Class C, 4.20%, 5/10/2050 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 |
| &nbsp;&nbsp;&nbsp; Harvest Commercial Capital Loan Trust Series 2019-1, Class A, 3.29%, 9/25/2046 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp; Hunt Companies Finance Trust, Inc. , 7.25%, 2/13/2025 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5820 |
| &nbsp;&nbsp;&nbsp; ILPT Commercial Mortgage Trust Series 2022-LPF2, Class A, 6.04%, 10/15/2039 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2708 |
| &nbsp;&nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C30, Class C, 4.37%, 7/15/2048 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C31, Class C, 4.78%, 8/15/2048 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase Commercial Mortgage Securities Trust Series 2016-JP4, Class C, 3.52%, 12/15/2049 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 |
| &nbsp;&nbsp;&nbsp; LB-UBS Commercial Mortgage Trust Series 2006-C6, Class AJ, 5.45%, 9/15/2039 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C14, Class C, 5.23%, 2/15/2047 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C24, Class C, 4.48%, 5/15/2048 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 552 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HQ7, Class E, 5.49%, 11/14/2042 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-MS1, Class B, 4.16%, 5/15/2048 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434 |
| &nbsp;&nbsp;&nbsp; P4 SFR Series 2019-STL B, 9.25%, 10/11/2026 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3667 |
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust Series 2017-C7, Class B, 4.29%, 12/15/2050 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1602 |
| &nbsp;&nbsp;&nbsp; Velocity Commercial Capital Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class A, 4.05%, 10/26/2048 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3, Class A, 3.03%, 10/25/2049 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class AFX, 2.61%, 2/25/2050 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2241 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C35, Class C, 4.18%, 7/15/2048 (h) | 386 | 314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C49, Class C, 4.87%, 3/15/2052 ‡ (h) | 1007 | 863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Mortgage-Backed Securities <br>(Cost $126,861)<br>|  | &nbsp;&nbsp;&nbsp; 114120 |
| **Asset-Backed Securities — 3.6%** | **Asset-Backed Securities — 3.6%** | **Asset-Backed Securities — 3.6%** |
| **Cayman Islands — 0.3%** | **Cayman Islands — 0.3%** | **Cayman Islands — 0.3%** |
| &nbsp;&nbsp;&nbsp; AIMCO CLO Ltd. Series 2019-10A, Class AR, 5.38%, 7/22/2032 (a) (h) | 550 | 536 |
| &nbsp;&nbsp;&nbsp; Apidos CLO Series 2020-34A, Class A1R, 5.39%, 1/20/2035 (a) (h) | 925 | 898 |
| &nbsp;&nbsp;&nbsp; Bain Capital Credit CLO Series 2019-1A, Class AR, 5.36%, 4/19/2034 (a) (h) | 3300 | 3198 |
| &nbsp;&nbsp;&nbsp; LCM XVI LP Series 16A, Class A2R, 5.26%, 10/15/2031 (a) (h) | 1860 | 1832 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding Ltd. Series 2020-45A, Class AR, 5.20%, 7/15/2034 (a) (h) | 675 | 656 |
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd. Series 2021-4A, Class A1, 4.88%, 10/15/2029 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2742 |
| &nbsp;&nbsp;&nbsp; Renew Series 2017-1A, Class B, 5.75%, 9/20/2052 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10011 |
| **United States — 3.3%** | **United States — 3.3%** | **United States — 3.3%** |
| &nbsp;&nbsp;&nbsp; Accelerated Assets LLC Series 2018-1, Class C, 6.65%, 12/2/2033 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 867 |
| &nbsp;&nbsp;&nbsp; ACE Securities Corp. Home Equity Loan Trust Series 2004-OP1, Class M2, 5.62%, 4/25/2034 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp; Affirm Asset Securitization Trust Series 2022-A, Class 1A, 4.30%, 5/17/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3131 |
| &nbsp;&nbsp;&nbsp; American Credit Acceptance Receivables Trust Series 2022-3, Class D, 5.83%, 10/13/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3590 |
| &nbsp;&nbsp;&nbsp; Amur Equipment Finance Receivables XI LLC Series 2022-2A, Class A2, 5.30%, 6/21/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2375 |
| &nbsp;&nbsp;&nbsp; Argent Securities, Inc. Asset-Backed Pass-Through Certificates Series 2004-W3, Class A3, 3.45%, 2/25/2034 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A, Class C, 4.73%, 9/20/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A, Class C, 4.24%, 9/22/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 771 |
| &nbsp;&nbsp;&nbsp; BHG Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B, Class A, 0.90%, 10/17/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C, Class A, 5.32%, 10/17/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1840 |
| &nbsp;&nbsp;&nbsp; Business Jet Securities LLC Series 2020-1A, Class C, 7.14%, 11/15/2035 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1451 |
| &nbsp;&nbsp;&nbsp; CIG Auto Receivables Trust Series 2019-1A, Class C, 3.82%, 8/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 637 |
| &nbsp;&nbsp;&nbsp; Countrywide Asset-Backed Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-4, Class M1, 5.17%, 12/25/2032 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-ECC2, Class M2, 5.02%, 12/25/2034 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489 |
| &nbsp;&nbsp;&nbsp; Diamond Resorts Owner Trust Series 2018-1, Class C, 4.53%, 1/21/2031 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 953 |
| &nbsp;&nbsp;&nbsp; Drive Auto Receivables Trust Series 2020-1, Class D, 2.70%, 5/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2909 |
| &nbsp;&nbsp;&nbsp; DRIVEN BRANDS FUNDING LLC Series 2019-2A, Class A2, 3.98%, 10/20/2049 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1583 |
| &nbsp;&nbsp;&nbsp; DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-4A, Class D, 2.85%, 7/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A, Class D, 4.73%, 3/16/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 641 |
| &nbsp;&nbsp;&nbsp; Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3A, Class E, 5.43%, 8/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2A, Class E, 5.33%, 5/15/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3A, Class F, 6.55%, 8/25/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3A, Class E, 4.00%, 8/17/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1502 |
| &nbsp;&nbsp;&nbsp; FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-SFR2, Class F1, 3.02%, 10/19/2037 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2604 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-SFR2, Class F2, 3.12%, 10/19/2037 ‡ (a) | 2000 | 1725 |
| &nbsp;&nbsp;&nbsp; FREED ABS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-FP1, Class C, 4.37%, 3/18/2027 ‡ (a) | 539 | 538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3FP, Class B, 5.79%, 8/20/2029 ‡ (a) | 7310 | 7188 |
| &nbsp;&nbsp;&nbsp; Fremont Home Loan Trust Series 2004-2, Class M2, 4.97%, 7/25/2034 (h) | 7 | 7 |
| &nbsp;&nbsp;&nbsp; GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A, Class B, 4.92%, 1/15/2027 (a) | 450 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A, Class C, 5.34%, 6/15/2028 (a) | 683 | 663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A, Class D, 6.42%, 6/15/2028 (a) | 510 | 484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A, Class E, 3.20%, 10/16/2028 (a) | 3530 | 3010 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Opportunities Ltd. Series 2015-10A, Class AR, 5.36%, 7/20/2031 (a) (h) | 4800 | 4742 |
| &nbsp;&nbsp;&nbsp; Hertz Vehicle Financing LLC Series 2021-1A, Class C, 2.05%, 12/26/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1223 |
| &nbsp;&nbsp;&nbsp; HIN Timeshare Trust Series 2020-A, Class D, 5.50%, 10/9/2039 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2097 |
| &nbsp;&nbsp;&nbsp; Home Equity Asset Trust Series 2004-6, Class M2, 4.94%, 12/25/2034 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp; JetBlue Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1, Class B, 8.00%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1, Class A, 2.95%, 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class B, 7.75%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp; Marlette Funding Trust Series 2022-3A, Class A, 5.18%, 11/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2612 |
| &nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust Series 2003-OPT1, Class M1, 5.02%, 7/25/2034 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp; Mid-State Capital Corp. Trust Series 2006-1, Class M2, 6.74%, 10/15/2040 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; MVW LLC Series 2021-1WA, Class D, 3.17%, 1/22/2041 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4483 |
| &nbsp;&nbsp;&nbsp; OL SP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018, Class C, 4.25%, 5/15/2025 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018, Class B, 4.61%, 2/9/2030 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp; Pagaya AI Technology in Housing Trust Series 2022-1, Class D, 4.25%, 8/25/2025 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2384 |
| &nbsp;&nbsp;&nbsp; PNMAC FMSR ISSUER TRUST Series 2018-FT1, Class A, 6.39%, 4/25/2023 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1866 |
| &nbsp;&nbsp;&nbsp; Prestige Auto Receivables Trust Series 2018-1A, Class D, 4.14%, 10/15/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 832 |
| &nbsp;&nbsp;&nbsp; RASC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-EMX1, Class M1, 4.69%, 3/25/2035 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-KS2, Class M1, 4.69%, 3/25/2035 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp; Renaissance Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1, Class AF6, 5.47%, 5/25/2035 ‡ (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class M1, 5.05%, 8/25/2035 ‡ (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 520 |
| &nbsp;&nbsp;&nbsp; Republic Finance Issuance Trust Series 2020-A, Class A, 2.47%, 11/20/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1181 |
| &nbsp;&nbsp;&nbsp; Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-6, Class A2, 4.37%, 5/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-6, Class C, 4.96%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 999 |
| &nbsp;&nbsp;&nbsp; Santander Revolving Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-A, Class A, 2.51%, 1/26/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-A, Class C, 3.00%, 1/26/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-A, Class D, 3.45%, 1/26/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3624 |
| &nbsp;&nbsp;&nbsp; Saxon Asset Securities Trust Series 2004-3, Class M1, 4.94%, 12/26/2034 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; Structured Asset Investment Loan Trust Series 2003-BC10, Class A4, 5.04%, 10/25/2033 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; Tesla Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-A, Class E, 4.64%, 8/20/2024 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1199 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A, Class D, 1.34%, 3/20/2025 (a) | 3826 | 3605 |
| &nbsp;&nbsp;&nbsp; US Auto Funding Series 2021-1A, Class C, 2.20%, 5/15/2026 (a) | 7300 | 6906 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 95424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $109,949)<br>|  | &nbsp;&nbsp;&nbsp; 105435 |
| **Collateralized Mortgage Obligations — 1.6%** | **Collateralized Mortgage Obligations — 1.6%** | **Collateralized Mortgage Obligations — 1.6%** |
| **United Kingdom — 0.0% ^** | **United Kingdom — 0.0% ^** | **United Kingdom — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Brass NO 8 plc Series 8A, Class A1, 5.34%, 11/16/2066 (a) (h) | 440 | 440 |
| **United States — 1.6%** | **United States — 1.6%** | **United States — 1.6%** |
| &nbsp;&nbsp;&nbsp; Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-25CB, Class A1, 6.00%, 12/25/2034 | 1989 | 1711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6CB, Class 1A6, 5.50%, 4/25/2035 | 43 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-21CB, Class A17, 6.00%, 6/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-80CB, Class 5A1, 6.00%, 2/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1398 |
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust Series 2020-1, Class A1, 2.47%, 12/25/2059 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 576 |
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust I LLC Series 2019-4, Class A3, 3.30%, 7/26/2049 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp; Chase Mortgage Finance Trust Series 2007-A1, Class 2A3, 3.65%, 2/25/2037 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp; CHL Mortgage Pass-Through Trust Series 2007-16, Class A1, 6.50%, 10/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust Series 2019-R07, Class 1M2, 6.12%, 10/25/2039 ‡ (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp; DSLA Mortgage Loan Trust Series 2005-AR4, Class 2A1A, 4.46%, 8/19/2045 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp; FHLMC, REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3914, Class LS, IF, IO, 2.93%, 8/15/2026 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4304, Class DI, IO, 2.50%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4030, Class IL, IO, 3.50%, 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4043, Class PI, IO, 2.50%, 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4057, Class UI, IO, 3.00%, 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4120, Class UI, IO, 3.00%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4323, Class IW, IO, 3.50%, 4/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4311, Class QI, IO, 3.00%, 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4324, Class AI, IO, 3.00%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4313, Class UI, IO, 3.00%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4280, Class KI, IO, 3.50%, 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3459, Class JS, IF, IO, 2.38%, 6/15/2038 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4018, Class HI, IO, 4.50%, 3/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4073, Class IQ, IO, 4.00%, 7/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4173, Class I, IO, 4.00%, 3/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4305, Class SK, IF, IO, 2.73%, 2/15/2044 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4372, Class SY, IF, IO, 2.23%, 8/15/2044 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4585, Class JI, IO, 4.00%, 5/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4694, Class SA, IF, IO, 2.23%, 6/15/2047 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4689, Class SD, IF, IO, 2.28%, 6/15/2047 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4714, Class SA, IF, IO, 2.28%, 8/15/2047 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4983, Class SY, IF, IO, 2.08%, 5/25/2050 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5022, IO, 3.00%, 9/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5023, Class MI, IO, 3.00%, 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5072, Class DI, IO, 3.50%, 2/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2317 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; FHLMC, STRIPS Series 319, Class S2, IF, IO, 2.13%, 11/15/2043 (h) | 7037 | 743 |
| &nbsp;&nbsp;&nbsp; FNMA, REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-145, Class EI, IO, 3.00%, 1/25/2028 | 552 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-15, IO, 2.50%, 3/25/2028 | 884 | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-35, Class KI, IO, 3.00%, 6/25/2029 | 583 | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-44, Class QI, IO, 3.00%, 8/25/2029 | 304 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-120, Class DI, IO, 3.00%, 3/25/2031 | 35 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-66, Class IE, IO, 3.00%, 8/25/2032 | 2605 | 111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-61, Class HI, IO, 3.00%, 6/25/2033 | 2410 | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-64, Class LI, IO, 3.00%, 6/25/2033 | 590 | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-5, Class BI, IO, 3.50%, 3/25/2040 | 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-93, Class SE, IF, IO, 2.08%, 9/25/2042 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-93, Class SG, IF, IO, 2.08%, 9/25/2042 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-133, Class NS, IF, IO, 2.13%, 12/25/2042 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-14, Class SA, IF, IO, 1.93%, 4/25/2044 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-40, Class LS, IF, IO, 2.15%, 6/25/2045 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-85, Class SA, IF, IO, 1.60%, 11/25/2045 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-25, Class SL, IF, IO, 1.98%, 5/25/2046 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-39, Class LS, IF, IO, 1.98%, 7/25/2046 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-61, Class ST, IF, IO, 1.98%, 9/25/2046 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-75, Class SC, IF, IO, 2.08%, 10/25/2046 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-13, Class AS, IF, IO, 2.03%, 2/25/2047 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-42, Class SK, IF, IO, 2.03%, 8/25/2049 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-57, Class SA, IF, IO, 2.08%, 8/25/2057 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411 |
| &nbsp;&nbsp;&nbsp; FNMA, STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 410, Class C12, IO, 5.50%, 7/25/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 401, Class C6, IO, 4.50%, 10/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp; GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2011-13, Class S, IF, IO, 2.06%, 1/16/2041 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-107, Class KS, IF, IO, 2.26%, 7/20/2047 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-42, Class SJ, IF, IO, 2.11%, 4/20/2049 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-115, Class SD, IF, IO, 2.16%, 9/20/2049 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H13, Class GI, IO, 1.43%, 4/20/2065 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Goodgreen Trust Series 2017-R15.00%, 10/20/2051 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1104 |
| &nbsp;&nbsp;&nbsp; GSMSC Pass-Through Trust Series 2008-2R, Class 2A1, 7.50%, 10/25/2036 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp; HarborView Mortgage Loan Trust Series 2007-6, Class 2A1A, 4.13%, 8/19/2037 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp; JPMorgan Alternative Loan Trust Series 2006-A2, Class 1A1, 4.40%, 5/25/2036 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1410 |
| &nbsp;&nbsp;&nbsp; MASTR Alternative Loan Trust Series 2003-5, Class 30B1, 5.90%, 8/25/2033 ‡ (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp; PNMAC FMSR ISSUER TRUST |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-GT1, Class A, 6.89%, 2/25/2023 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-GT2, Class A, 6.69%, 8/25/2025 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3522 |
| &nbsp;&nbsp;&nbsp; PRET LLC Series 2022-NPL4, Class A1, 6.56%, 8/25/2052 (a) (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3345 |
| &nbsp;&nbsp;&nbsp; SART Series 2017-14.75%, 7/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970 |
| &nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust Series 2020-1, Class A1, 2.27%, 2/25/2050 (a) (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp; Structured Adjustable Rate Mortgage Loan Trust Series 2005-1, Class 5A1, 3.60%, 2/25/2035 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust Series 2020-1, Class A1, 2.42%, 1/25/2060 (a) (f) | 378 | 355 |
| &nbsp;&nbsp;&nbsp; VM Master Issuer LLC Series 2022-1, Class A1, 5.16%, 5/24/2025 (a) (h) | 12600 | 11871 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 46913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Collateralized Mortgage Obligations <br>(Cost $57,017)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 47353 |
| **U.S. Treasury Obligations — 1.4%** | **U.S. Treasury Obligations — 1.4%** | **U.S. Treasury Obligations — 1.4%** |
| **United States — 1.4%** | **United States — 1.4%** | **United States — 1.4%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds , 2.00%, 8/15/2051 | 20 | 14 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Inflation Indexed Notes , 0.63%, 7/15/2032 | 41910 | 40266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $39,623)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 40280 |
| **Loan Assignments — 1.1%** (b) (j) | **Loan Assignments — 1.1%** (b) (j) | **Loan Assignments — 1.1%** (b) (j) |
| **Netherlands — 0.0% ^** | **Netherlands — 0.0% ^** | **Netherlands — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; CommScope, Inc., 1st Lien Term Loan B-2 (ICE LIBOR USD 1 Month + 3.25%), 7.32%, 4/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549 |
| **United States — 1.1%** | **United States — 1.1%** | **United States — 1.1%** |
| &nbsp;&nbsp;&nbsp; AppleCaramel Buyer LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 7.84%, 10/19/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 902 |
| &nbsp;&nbsp;&nbsp; Brooks Automation, 1st Lien Term Loan B (1-MONTH SOFR + 3.10%), 5.26%, 2/1/2029 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp; Brooks Automation, 2nd Lien Term Loan (1-MONTH SOFR + 5.60%), 7.35%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp; Caesars Resort Collection LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.75%), 6.82%, 12/23/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4512 |
| &nbsp;&nbsp;&nbsp; Chamberlain Group LLC (The), 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 7.25%, 11/3/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 939 |
| &nbsp;&nbsp;&nbsp; Claire's Stores, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 6.50%), 10.57%, 12/18/2026 (l) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1462 |
| &nbsp;&nbsp;&nbsp; Conair Holdings LLC, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 7.42%, 5/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3199 |
| &nbsp;&nbsp;&nbsp; Envision Healthcare Corp., 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 3.75%), 7.49%, 3/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 4.25%), 7.99%, 3/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; FGI Operating Co. LLC, 1st Lien Term Loan (ICE LIBOR USD 3 Month + 11.00%), 12.00%, 5/16/2023 ‡ (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp; Genesys Telecom Holdings US, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 4.00%), 7.86%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2632 |
| &nbsp;&nbsp;&nbsp; Hercules Achievement, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.50%), 7.57%, 12/16/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3596 |
| &nbsp;&nbsp;&nbsp; INEOS US Finance LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.50%), 6.57%, 11/8/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp; IRB Holding Corp., 1st Lien Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 1 Month + 2.75%), 6.82%, 2/5/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 3.00%), 6.89%, 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 834 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC, 1st Lien Term Loan (ICE LIBOR USD 3 Month + 3.25%), 6.82%, 6/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 587 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Term Loan (ICE LIBOR USD 3 Month + 7.00%), 7.00%, 12/31/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 7.00%), 10.67%, 4/1/2024 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, Tranche A Second Lien Term Loan (ICE LIBOR USD 3 Month + 10.75%), 14.42%, 10/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp; Pactiv Evergreen Group Holdings, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 7.25%, 9/24/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1729 |
| &nbsp;&nbsp;&nbsp; Pike Corp., Delayed Draw Term Loan B (ICE LIBOR USD 1 Month + 3.00%), 7.08%, 1/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 507 |
| &nbsp;&nbsp;&nbsp; PrimeSource, 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.25%), 6.99%, 12/28/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 884 |
| &nbsp;&nbsp;&nbsp; Pure Fishing, Inc., 1st Lien Term Loan (ICE LIBOR USD 1 Month + 4.50%), 8.57%, 12/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1670 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc., 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 3.00%), 7.07%, 6/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp; Red Ventures LLC, 1st Lien Term Loan B (ICE LIBOR USD 1 Month + 2.50%), 6.57%, 11/8/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp; Serta Simmons Bedding LLC, 1st Lien Term Loan (ICE LIBOR USD 1 Month + 7.50%), 10.79%, 8/10/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1358 |
| &nbsp;&nbsp;&nbsp; Staples, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 5.00%), 7.78%, 4/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp; Team Health Holdings, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 5.25%), 9.34%, 3/2/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 665 |
| &nbsp;&nbsp;&nbsp; Tekni-Plex, Inc., 1st Lien Term Loan (ICE LIBOR USD 3 Month + 4.00%), 7.67%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 709 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Tekni-Plex, Inc., Delayed Draw Term Loan B (ICE LIBOR USD 3 Month + 4.00%), 7.82%, 9/15/2028 | 105 | 101 |
| &nbsp;&nbsp;&nbsp; Triton Water Holdings, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.50%), 7.17%, 3/31/2028 | 330 | 304 |
| &nbsp;&nbsp;&nbsp; Ultimate Software Group, Inc. (The), 1st Lien Term Loan (ICE LIBOR USD 1 Month + 3.75%), 7.82%, 5/4/2026 | 980 | 953 |
| &nbsp;&nbsp;&nbsp; Ultra Resources, Inc., 1st Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 7.06%, 8/3/2029 | 461 | 447 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 30814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Loan Assignments <br>(Cost $35,381)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 31363 |
| **Supranational — 0.4%** | **Supranational — 0.4%** | **Supranational — 0.4%** |
| &nbsp;&nbsp;&nbsp; African Export-Import Bank (The), 5.25%, 10/11/2023 (c) | 2380 | 2344 |
| &nbsp;&nbsp;&nbsp; European Union, 0.10%, 10/4/2040 (c) | EUR 14,420 | 9231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Supranational <br>(Cost $18,764)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 11575 |
|  | **SHARES** <br>**(000)**<br>|  |
| **Common Stocks — 0.2%** | **Common Stocks — 0.2%** | **Common Stocks — 0.2%** |
| **France — 0.1%** | **France — 0.1%** | **France — 0.1%** |
| &nbsp;&nbsp;&nbsp; Vallourec SA \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 996 |
| **Luxembourg — 0.0% ^** | **Luxembourg — 0.0% ^** | **Luxembourg — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Intelsat SA ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 901 |
| **United States — 0.1%** | **United States — 0.1%** | **United States — 0.1%** |
| &nbsp;&nbsp;&nbsp; Chesapeake Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1302 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 614 |
| &nbsp;&nbsp;&nbsp; Claire's Stores, Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp; EP Energy Corp. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp; Goodman Networks, Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(m) |
| &nbsp;&nbsp;&nbsp; iHeartMedia, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt plc \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp; Moran Foods Backstop Equity ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp; MYT Holding Co. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; NMG, Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $4,390)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5237 |
| **Convertible Preferred Stocks — 0.1%** | **Convertible Preferred Stocks — 0.1%** | **Convertible Preferred Stocks — 0.1%** |
| **United States — 0.1%** | **United States — 0.1%** | **United States — 0.1%** |
| &nbsp;&nbsp;&nbsp; Claire's Stores, Inc. ‡ \*(Cost $279) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2185 |
|  | **NO. OF** <br> **WARRANTS** <br>**(000)**<br>|  |
| **Warrants — 0.1%** | **Warrants — 0.1%** | **Warrants — 0.1%** |
| **United Kingdom — 0.1%** | **United Kingdom — 0.1%** | **United Kingdom — 0.1%** |
| &nbsp;&nbsp;&nbsp; Nmg Research Ltd. expiring 9/24/2027, price 1.00 USD ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1895 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **NO. OF** <br> **WARRANTS**<br> **(000)**<br>| <br> **VALUE**<br> **($000)**<br>|
| **Warrants — continued** | **Warrants — continued** | **Warrants — continued** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Windstream Holdings, Inc. expiring 12/31/2049, price 10.75 USD ‡ \* | 1 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Warrants <br>(Cost $—)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1906 |
|  | **SHARES** <br>**(000)**<br>|  |
| **Preferred Stocks — 0.0% ^** | **Preferred Stocks — 0.0% ^** | **Preferred Stocks — 0.0% ^** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Goodman Networks, Inc. ‡ \* |  | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; MYT Holding LLC Series A, 10.00%, 6/6/2029 ‡ | 419 | 450 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. Series Z, 4.75%, 3/15/2025 ($25 par value) (d) (n) | 13 | 238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks <br>(Cost $697)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 688 |
|  | **NO. OF RIGHTS** <br>**(000)**<br>|  |
| **Rights — 0.0% ^** | **Rights — 0.0% ^** | **Rights — 0.0% ^** |
| **Luxembourg — 0.0% ^** | **Luxembourg — 0.0% ^** | **Luxembourg — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings SA, expiring 12/5/2025‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Vistra Corp., expiring 12/31/2049‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Rights <br>(Cost $—)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
|  | **SHARES** <br>**(000)**<br>|  |
| **Short-Term Investments — 1.6%** | **Short-Term Investments — 1.6%** | **Short-Term Investments — 1.6%** |
| **Investment Companies — 1.6%** | **Investment Companies — 1.6%** | **Investment Companies — 1.6%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class Institutional Shares, 3.94% (o) (p)(Cost $46,466) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46459 | &nbsp;&nbsp;&nbsp;&nbsp; 46473 |
| **Total Investments — 96.2%** <br>**(Cost $3,214,821)**<br>|  | **2813728** |
| **Other Assets Less Liabilities — 3.8%** |  | **110954** |
| **NET ASSETS — 100.0%** |  | **2924682** |

---

&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 |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CLO | Collateralized Loan Obligations |
| CME | Chicago Mercantile Exchange |
| EUR | Euro |
| EURIBOR | Euro Interbank Offered Rate |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | |
|:---|:---|
| GBP | British Pound |
| GNMA | Government National Mortgage Association |
| ICE | Intercontinental Exchange |
| IF | Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index or have an interest <br> rate that adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the <br> rate in effect as of November 30, 2022. The rate may be subject to a cap and floor.<br>|
| IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown <br> represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or <br> refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.<br>|
| JSC | Joint Stock Company |
| LIBOR | London Interbank Offered Rate |
| MXN | Mexican Peso |
| PO | Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is <br> extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on <br> these securities increases.<br>|
| PT | Limited liability company |
| REIT | Real Estate Investment Trust |
| REMIC | Real Estate Mortgage Investment Conduit |
| Re-REMIC | Combined Real Estate Mortgage Investment Conduit |
| SCA | Limited partnership with share capital |
| SOFR | Secured Overnight Financing Rate |
| STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal <br> components of eligible notes and bonds as separate securities.<br>|
| USD | United States Dollar |
| ZAR | South African Rand |

---

&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) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
| (b) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of November 30, 2022. |
| (c) | 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>|
| (d) | Security is an interest bearing note with preferred security characteristics. |
| (e) | Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time <br> and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in <br> effect as of November 30, 2022.<br>|
| (f) | 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 November 30, 2022. <br>|
| (g) | Security has the ability to pay in kind ("PIK") or pay income in cash. When applicable, separate rates of such payments are disclosed. |
| (h) | 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 November 30, 2022. <br>|
| (i) | Defaulted security. |
| (j) | Loan assignments are presented by obligor. Each series or loan tranche underlying each obligor may have varying terms. |
| (k) | All or a portion of this security is unsettled as of November 30, 2022. Unless otherwise indicated, the coupon rate is undetermined. The <br> coupon rate shown may not be accrued for the entire position.<br>|
| (l) | Fund is subject to legal or contractual restrictions on the resale of the security. |
| (m) | Value is zero. |
| (n) | The date shown reflects the next call date on which the issuer may redeem the security at par value. The coupon rate for this security is based <br> on par value and is in effect as of November 30, 2022.<br>|
| (o) | 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>|
| (p) | The rate shown is the current yield as of November 30, 2022. |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

**Futures contracts outstanding as of November 30, 2022 (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-Schatz | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | 12/08/2022 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1224 | &nbsp;&nbsp;&nbsp;&nbsp; (13) |
| U.S. Treasury 10 Year Ultra Note | &nbsp;&nbsp;&nbsp;&nbsp; 877 | 03/22/2023 | USD | 105418 | &nbsp;&nbsp;&nbsp;&nbsp; 579 |
| U.S. Treasury Ultra Bond | &nbsp;&nbsp;&nbsp;&nbsp; 430 | 03/22/2023 | USD | &nbsp;&nbsp;&nbsp; 59004 | &nbsp;&nbsp;&nbsp;&nbsp; 634 |
| U.S. Treasury 5 Year Note | 1140 | 03/31/2023 | USD | 124028 | &nbsp;&nbsp;&nbsp;&nbsp; 844 |
|  |  |  |  |  | 2044 |
| **Short Contracts** |  |  |  |  |  |
| Euro-Bobl | (1359) | 12/08/2022 | EUR | (170323) | 2934 |
| Euro-Bund | &nbsp;&nbsp;&nbsp; (959) | 12/08/2022 | EUR | (141397) | (3262) |
| Euro-Buxl | &nbsp;&nbsp;&nbsp;&nbsp; (39) | 12/08/2022 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; (6454) | &nbsp;&nbsp;&nbsp; (335) |
| Euro-Schatz | &nbsp;&nbsp;&nbsp; (787) | 12/08/2022 | EUR | &nbsp;&nbsp; (87542) | &nbsp;&nbsp;&nbsp;&nbsp; 810 |
| Japan 10 Year Bond | &nbsp;&nbsp;&nbsp; (203) | 12/13/2022 | JPY | (218965) | &nbsp;&nbsp;&nbsp; (218) |
| U.S. Treasury 10 Year Note | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) | 03/22/2023 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (797) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) |
| U.S. Treasury 10 Year Ultra Note | (1611) | 03/22/2023 | USD | (193647) | (1036) |
| U.S. Treasury Long Bond | &nbsp;&nbsp;&nbsp; (280) | 03/22/2023 | USD | &nbsp;&nbsp; (35744) | &nbsp;&nbsp;&nbsp;&nbsp; (63) |
| U.S. Treasury 2 Year Note | &nbsp;&nbsp;&nbsp; (188) | 03/31/2023 | USD | &nbsp;&nbsp; (38644) | &nbsp;&nbsp;&nbsp; (138) |
| U.S. Treasury 5 Year Note | (1412) | 03/31/2023 | USD | (153621) | (1051) |
|  |  |  |  |  | (2365) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp; (321) |

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| EUR | Euro |
| JPY | Japanese Yen |
| USD | United States Dollar |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

**Forward foreign currency exchange contracts outstanding as of November 30, 2022 (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;&nbsp;&nbsp; 338620 | USD | &nbsp;&nbsp;&nbsp; 351351 | HSBC Bank, NA | 12/5/2022 | &nbsp;&nbsp;&nbsp; 1088 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518 | Morgan Stanley | 12/5/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 828 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 854 | Standard Chartered Bank | 12/5/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 877 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 | State Street Corp. | 12/5/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18092 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 21718 | Merrill Lynch International | 12/5/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10988 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7391 | Merrill Lynch International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34761 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 23283 | Standard Chartered Bank | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24725 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4631 | BNP Paribas<sup>\*\*</sup> <br>| 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19238 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3594 | Citibank, NA<sup>\*\*</sup> <br>| 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 | Royal Bank of Canada | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp; 6684113 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7147 | Citibank, NA<sup>\*\*</sup> <br>| 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326 |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104332 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 14534 | BNP Paribas<sup>\*\*</sup> <br>| 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323 |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373790 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 15799 | BNP Paribas | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7043 | MXN | &nbsp;&nbsp;&nbsp; 140343 | Goldman Sachs International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 | Merrill Lynch International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 646 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 673 | Royal Bank of Canada | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503 | State Street Corp. | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| IDR | 227195364 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 14476 | Citibank, NA<sup>\*\*</sup> <br>| 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 |
| ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24989 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7232 | Citibank, NA | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 |
| INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 594330 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7243 | Citibank, NA<sup>\*\*</sup> <br>| 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69375 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476 | BNP Paribas | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 |
| KRW | &nbsp;&nbsp; 30733620 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 23244 | Goldman Sachs International<sup>\*\*</sup> <br>| 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143808 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7055 | Goldman Sachs International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97388 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1705 | BNP Paribas<sup>\*\*</sup> <br>| 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 |
| PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 835068 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 14548 | Goldman Sachs International<sup>\*\*</sup> <br>| 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
| SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10041 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7339 | Citibank, NA | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20737 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 15073 | Goldman Sachs International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575440 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 16132 | Goldman Sachs International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92623 | CAD | &nbsp;&nbsp;&nbsp; 123089 | BNP Paribas | 12/28/2022 | &nbsp;&nbsp;&nbsp; 1072 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 838 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 | State Street Corp. | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7277 | ZAR | &nbsp;&nbsp;&nbsp; 124232 | Goldman Sachs International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124584 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7183 | Goldman Sachs International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1379 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1434 | HSBC Bank, NA | 1/4/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4573 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4381 | Citibank, NA | 1/4/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33455 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7043 | Barclays Bank plc | 1/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | &nbsp;&nbsp;&nbsp; 5330 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333769 | EUR | &nbsp;&nbsp;&nbsp; 335520 | BNP Paribas | 12/5/2022 | (15443) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5494 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5307 | HSBC Bank, NA | 12/5/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20918 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 18092 | HSBC Bank, NA | 12/5/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (889) |
| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57704 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 43587 | Citibank, NA | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (668) |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1043 | Citibank, NA | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) |
| INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 588676 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7235 | Goldman Sachs International\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30567 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 45635 | BNP Paribas | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (446) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7332 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 10904 | Merrill Lynch International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (78) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7205 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; 38248 | BNP Paribas\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (129) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3402 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; 18109 | Citibank, NA\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (70) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38687 | BRL | &nbsp;&nbsp;&nbsp; 206318 | Goldman Sachs International\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (870) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7404 | CLP | 6640110 | Citibank, NA\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7391 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; 52291 | BNP Paribas\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (56) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57728 | CNY | &nbsp;&nbsp;&nbsp; 406404 | Citibank, NA\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (146) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98720 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 95593 | Citibank, NA | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (994) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1034 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000 | State Street Corp. | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7413 | ILS | &nbsp;&nbsp;&nbsp;&nbsp; 25396 | BNP Paribas | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14935 | INR | 1216128 | BNP Paribas\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14454 | INR | 1184462 | Citibank, NA\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (97) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1754 | JPY | &nbsp;&nbsp;&nbsp; 244699 | TD Bank Financial Group | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7137 | KRW | 9644950 | Barclays Bank plc\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (258) |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (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;&nbsp;&nbsp;&nbsp;&nbsp; 48270 | MXN | &nbsp;&nbsp;&nbsp; 946898 | Goldman Sachs International | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (577) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3665 | MXN | &nbsp;&nbsp;&nbsp;&nbsp; 71306 | HSBC Bank, NA | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16340 | PHP | &nbsp;&nbsp;&nbsp; 933418 | BNP Paribas\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; (208) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7309 | PHP | &nbsp;&nbsp;&nbsp; 417554 | Standard Chartered Bank\*\* | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (94) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7238 | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9973 | Citibank, NA | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (92) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7332 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; 10077 | TD Bank Financial Group | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (73) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12855 | ZAR | &nbsp;&nbsp;&nbsp; 223215 | BNP Paribas | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19840 | ZAR | &nbsp;&nbsp;&nbsp; 344802 | Citibank, NA | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (65) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3326 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 57934 | HSBC Bank, NA | 12/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352315 | EUR | &nbsp;&nbsp;&nbsp; 338620 | HSBC Bank, NA | 1/4/2023 | &nbsp;&nbsp; (1125) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21744 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 18092 | Merrill Lynch International | 1/4/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (90) |
| Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | (22664) |
| Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | (17334) |

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CLP | Chile Peso |
| CNY | China Yuan |
| CZK | Czech Republic Koruna |
| EUR | Euro |
| GBP | British Pound |
| IDR | Indonesian Rupiah |
| ILS | Israeli Shekel |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | Korean Republic Won |
| MXN | Mexican Peso |
| PHP | Philippines Peso |
| PLN | Polish Zloty |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| USD | United States Dollar |
| ZAR | South African Rand |

---

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

(a) Amount rounds to less than 0.1%.

\*\* Non-deliverable forward.

**Centrally Cleared Credit default swap contracts outstanding - buy protection**<sup>(\*)</sup> **as of November 30, 2022 (amounts in thousands):**

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **REFERENCE** <br>**OBLIGATION/INDEX**<br>| **FINANCING** <br>**RATE PAID** <br>**BY THE FUND** <br>**(%)**<br>| &nbsp;&nbsp; **PAYMENT** <br>**FREQUENCY**<br>| &nbsp;&nbsp; **MATURITY** <br>**DATE**<br>| **IMPLIED** <br>**CREDIT** <br>**SPREAD** <br>**(%)**<sup>(a)</sup> <br>| **NOTIONAL** <br>**AMOUNT**<sup>(b)</sup> <br>| **UPFRONT** <br>**PAYMENTS** <br>**(RECEIPTS)** <br>**($)**<sup>(c)</sup> <br>| **UNREALIZED** <br>**APPRECIATION** <br>**(DEPRECIATION)** <br>**($)**<br>| **VALUE** <br>**($)**<br>|
| CDX.NA.EM.38-V1 | 1.00 | Quarterly | 12/20/2027 | 2.41 | USD 48,000 | &nbsp;&nbsp; 3835 | &nbsp;&nbsp; (1340) | 2495 |
| CDX.NA.HY.39-V1 | 5.00 | Quarterly | 12/20/2027 | 4.79 | USD 30,000 | &nbsp;&nbsp;&nbsp;&nbsp; 489 | &nbsp;&nbsp; (1352) | &nbsp;&nbsp;&nbsp; (863) |
| CDX.NA.HY.39-V1 | 5.00 | Quarterly | 12/20/2027 | 4.79 | USD 190,260 | &nbsp;&nbsp; 8530 | (14001) | (5471) |
|  |  |  |  |  |  | &nbsp;&nbsp; 9019 | (15353) | (6334) |
|  |  |  |  |  |  | 12854 | (16693) | (3839) |

---

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

---

| | |
|:---|:---|
| (\*) | The Fund, as a buyer of credit protection, is generally obligated to make periodic payments and may also pay or receive an upfront premium to or from <br> the protection seller, in exchange for the right to receive a contingent payment, upon occurrence of a credit event with respect to an underlying reference <br> obligation, as defined under the terms of individual swap contracts. |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Implied credit spreads are an indication of the seller's performance risk, related to the likelihood of a credit event occurring
 that would require a seller to make payment to a buyer. Implied credit spreads are used to determine the value of swap contracts and reflect the cost of
 buying/selling protection, which may include upfront payments made to enter into the contract. Therefore, higher spreads would indicate a greater likelihood
 that a seller will be obligated to perform (i.e. make payment) under the swap contract.Increasing values, in absolute terms and relative to notional amounts,
 are also indicative of greater performance risk. Implied credit spreads for credit default swaps on credit indices are linked to the weighted average
 spread across the underlying reference obligations included in a particular index.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The notional amount is the maximum amount that a seller of credit protection would be obligated to pay and a buyer of credit
 protection would receive, upon occurrence of a credit event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Upfront payments and receipts generally represent premiums paid or received at the initiation of the agreement to compensate
 the differences between the stated terms of the swap agreement and current market conditions (credit spreads, interest rates and other relevant factors).

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| CDX | Credit Default Swap Index |
| USD | United States Dollar |

---

**Centrally Cleared interest rate swap contracts outstanding as of November 30, 2022 (amounts in thousands):**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **FLOATING RATE INDEX (a)** | **FIXED RATE** | &nbsp;&nbsp; **PAY/RECIEVE** <br>**FLOATING RATE**<br>| &nbsp;&nbsp; **MATURITY** <br>**DATE**<br>| **NOTIONAL** <br>**AMOUNT**<br>| **UPFRONT** <br>**PAYMENTS** <br>**(RECEIPTS)($)**<br>| **VALUE AND** <br>**UNREALIZED** <br>**APPRECIATION** <br>**(DEPRECIATION)($)**<br>|
| 6 month EURIBOR semi-annually | 3.03 annually | Pay | 12/21/2032 | EUR 135,000 |  | 4609 |
| 1 day CDI at maturity | 11.91 at maturity | Pay | 1/2/2025 | BRL 259,038 |  | (1475) |
| 1 day CDI at maturity | 11.92 at maturity | Pay | 1/2/2025 | BRL 235,678 |  | &nbsp;&nbsp;&nbsp; (960) |
|  |  |  |  |  |  | (2435) |
|  |  |  |  |  |  | 2174 |

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| BRL | Brazilian Real |
| CDI | Certificate of interbank deposits |
| EUR | Euro |
| EURIBOR | Euro Interbank Offered Rate |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Value of floating rate index at November 30, 2022 was as follows:

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

---

| | |
|:---|:---|
| **FLOATING RATE INDEX** | **VALUE** |
| &nbsp;&nbsp;&nbsp; 1 day CDI | 12.98% |
| &nbsp;&nbsp;&nbsp; 6 Month EURIBOR | 2.41 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued) <br>(Dollar values in thousands)

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

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

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the 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 is calculated on a valuation date. Certain foreign equity instruments are valued by applying international fair value factors provided by approved Pricing Services. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAV is calculated.

Investments in open-end investment companies ("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. Swaps and forward foreign currency exchange contracts are valued utilizing market quotations from approved Pricing Services.

See the table on "Quantitative Information about Level 3 Fair Value Measurements" for information on the valuation techniques and inputs used to value level 3 securities held by the Fund at November 30, 2022.

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.

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued) <br>(Dollar values in thousands)

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

• 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).

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; Cayman Islands | $— | $9862 | $149 | $10011 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68751 | &nbsp;&nbsp; 26673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95424 |
| &nbsp;&nbsp;&nbsp; Total Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78613 | &nbsp;&nbsp; 26822 | &nbsp;&nbsp;&nbsp;&nbsp; 105435 |
| Collateralized Mortgage Obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45457 | &nbsp;&nbsp;&nbsp;&nbsp; 1456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46913 |
| &nbsp;&nbsp;&nbsp; Total Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45897 | &nbsp;&nbsp;&nbsp;&nbsp; 1456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47353 |
| Commercial Mortgage-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75481 | &nbsp;&nbsp; 38639 | &nbsp;&nbsp;&nbsp;&nbsp; 114120 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 996 |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 901 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; 2453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3340 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 2453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 996 | &nbsp;&nbsp;&nbsp;&nbsp; 1788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5237 |
| Convertible Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 139302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 139302 |
| Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2185 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 1831325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp; 1831325 |
| Foreign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 436478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 436478 |
| Loan Assignments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30814 |
| &nbsp;&nbsp;&nbsp; Total Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31363 |
| Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 688 |
| Rights |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp; Total Rights | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| Supranational | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11575 |
| U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40280 |
| Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1906 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp; 46473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46473 |
| **Total Investments in Securities** | $49164 | $2690958 | $73606 | $2813728 |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | $— | $5330 | $— | $5330 |

---

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued) <br>(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| Futures Contracts | $5801 | $— | $— | $5801 |
| Swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4609 |
| **Depreciation in Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (22664) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (22664) |
| Futures Contracts | &nbsp;&nbsp;&nbsp; (6122) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6122) |
| Swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (19128) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (19128) |
| **Total Net Appreciation/ Depreciation in Other**<br> **Financial Instruments**<br>| $(321) | $(31853) | $— | $(32174) |

---

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

(a) Amount rounds to less than one thousand.

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Balance as of** <br>**February 28,** <br>**2022**<br>| **Realized** <br>**gain (loss)**<br>| **Change in net** <br>**unrealized** <br>**appreciation** <br>**(depreciation)**<br>| **Net** <br>**accretion** <br>**(amortization)**<br>| **Purchases**<sup>1</sup> <br>| **Sales**<sup>2</sup> <br>| **Transfers** <br>**into** <br>**Level 3**<br>| **Transfers** <br>**out of** <br>**Level 3**<br>| **Balance as of** <br>**November 30,** <br>**2022**<br>|
| **Investments in Securities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | $16954 | $— | $(1366) | $35 | $18959 | $(7779) | $19 | $— | $26822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage <br> Obligations<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1092) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage-Backed <br> Securities<br>| &nbsp;&nbsp; 40320 | &nbsp;&nbsp; (809) | &nbsp;&nbsp; (4251) | &nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (6587) | &nbsp;&nbsp; 10290 | &nbsp;&nbsp; (376) | &nbsp;&nbsp; 38639 |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 2114 | &nbsp;&nbsp;&nbsp; 747 | &nbsp;&nbsp; (1361) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (963) | &nbsp;&nbsp;&nbsp;&nbsp; 1251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1788 |
| &nbsp;&nbsp;&nbsp; Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 2214 | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (61) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2185 |
| &nbsp;&nbsp;&nbsp; Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (37) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) |
| &nbsp;&nbsp;&nbsp; Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (86) | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (336) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp; Rights | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)(a) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1906 |
| **Total** | $65636 | $(15) | $(6416) | $94 | $19003 | $(16527) | $12207 | $(376) | $73606 |

---

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

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

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

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

The changes in net unrealized appreciation (depreciation) attributable to securities owned at November 30, 2022, which were valued using significant unobservable inputs (level 3) amounted to $(6,670).

There were no significant transfers into or out of level 3 for the period ended November 30, 2022.

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

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued) <br>(Dollar values in thousands)

decrease (increase) the fair value measurement. A significant change in the discount rate or prepayment rate (Constant Prepayment Rate or PSA Prepayment Model) may decrease or increase the fair value measurement.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value at** <br>**November 30, 2022**<br>| **Valuation Technique(s)** | **Unobservable Input** | &nbsp;&nbsp; **Range (Weighted** <br>**Average) (a)**<br>|
|  | $-(b) | Market Comparable Companies | EBITDA Multiple (c) | 5.0x (5.0x) |
|  |  |  | Liquidity Discount | 30.00% (0.00%) |
| &nbsp;&nbsp;&nbsp; Common Stock | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -(b) |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -(b) | Market Comparable Companies | EBITDA Multiple (c) | 5.0x (5.0x) |
|  |  |  | Liquidity Discount | 30.00% (0.00%) |
| &nbsp;&nbsp;&nbsp; Preferred Stock | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -(b) |  |  |  |
|  | &nbsp;&nbsp; 26821  | Discounted Cash Flow | Constant Prepayment Rate | 0.00% - 30.00% (13.87%) |
|  |  |  | Constant Default Rate | 0.00% - 4.20% (0.13%) |
|  |  |  | Yield (Discount Rate of Cash Flows) | 5.99% - 11.27% (8.68%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed <br>Securities<br>| &nbsp;&nbsp; 26821  |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352  | Discounted Cash Flow | Constant Prepayment Rate | 6.65% - 10.00% (9.03%) |
|  |  |  | Constant Default Rate | 0.00% - 1.42% (0.41%) |
|  |  |  | Yield (Discount Rate of Cash Flows) | 7.10% - 10.38% (8.04%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized <br> Mortgage <br>Obligations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352  |  |  |  |
|  | &nbsp;&nbsp; 16204  | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 6.84% - 192.21% (17.33%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial <br> Mortgage- <br>Backed Securities<br>| &nbsp;&nbsp; 16204  |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5  | Terms of Restructuring | Expected Recovery | 10.90% (10.90%) |
| &nbsp;&nbsp;&nbsp; Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5  |  |  |  |
| &nbsp;&nbsp;&nbsp; Total | $43382  |  |  |  |

---

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

# The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At November 30, 2022, the value of these investments was $30,224. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note A. 

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

(b) Amount rounds to less than one thousand.

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

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

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued) <br>(Dollar values in thousands)

affiliated issuer. The Underlying Fund's distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** |
| **Security Description** | **Value at** <br>**February 28,** <br>**2022**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**November 30,** <br>**2022**<br>| **Shares at** <br>**November 30,** <br>**2022**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund <br> Class Institutional Shares, 3.94% (a) (b)<br>| $257739 | $1275737 | $1486968 | $(54) | $19 | $46473 | 46459 | $1803 | $— |

---

&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 November 30, 2022.

**C. Derivatives** — The Fund used derivative instruments including options, futures contracts, forward foreign currency exchange contracts and swaps, 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.

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

Notes (1) — (3) 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

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued) <br>(Dollar values in thousands)

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).

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 Funds are 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 Funds 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 on the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported on the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated on the SOIs, while cash deposited, which is considered restricted, is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities.

The use of futures contracts exposes the Funds to . The Funds may be subject 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 subjects the Funds to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional amount of the futures contracts. Use of short futures contracts subjects the Funds to unlimited risk of loss. The Funds 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 Funds' 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 Funds' 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.

**(3). Swaps —** The Fund engaged in various swap transactions to manage credit, interest rate (e.g., duration, yield curve), currency, inflation and total return risks within its portfolio. The Fund also used swaps as alternatives to direct investments. Swap transactions are contracts negotiated over-the-counter ("OTC swaps") between the Fund and a counterparty or are centrally cleared ("centrally cleared swaps") through a central clearinghouse managed by a Futures Commission Merchant ("FCM") that exchange investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals.

Upfront payments made and/or received by the Fund are recorded as assets or liabilities, respectively, and amortized over the term of the swap. The value of an OTC swap agreement is recorded at the beginning of the measurement period. Upon entering into a centrally cleared swap, the Fund is required to deposit with the FCM cash or securities, which is referred to as initial margin deposit. Securities deposited as initial margin are designated on the Schedule of Investments, while cash deposited is considered restricted. The change in the value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is reported as change in net unrealized appreciation/depreciation on swaps. A realized gain or loss is recorded upon payment or receipt of a periodic payment or payment made upon termination of a swap agreement.

------

**JPMorgan Global Bond Opportunities Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued) <br>(Dollar values in thousands)

The Fund may be required to post or receive collateral based on the net value of the Fund's outstanding OTC swap contracts with the counterparty in the form of cash or securities. Daily movement of cash collateral is subject to minimum threshold amounts. Collateral posted by the Fund is held in a segregated account at the Fund's custodian bank.

The central clearinghouse acts as the counterparty to each centrally cleared swap transaction; therefore credit risk is limited to the failure of the clearinghouse.

The Fund's swap contracts (excluding centrally cleared swaps) are subject to master netting arrangements.

<u>Credit Default Swaps</u>

The Fund entered into credit default swaps to simulate long and/or short bond positions or to take an active long and/or short position with respect to the likelihood of a default or credit event by the issuer of the underlying reference obligation.

The underlying reference obligation may be a single issuer of corporate or sovereign debt, a basket of issuers or a credit index. A credit index is a list of credit instruments or exposures that reference a fixed number of obligors with shared characteristics that represents some part of the credit market as a whole. Index credit default swaps have standardized terms including a fixed spread and standard maturity dates. The composition of the obligations within a particular index changes periodically.

Credit default swaps involve one party, the protection buyer, making a stream of payments to another party, the protection seller, in exchange for the right to receive a contingent payment if there is a credit event related to the underlying reference obligation. In the event that the reference obligation matures prior to the termination date of the contract, a similar security will be substituted for the duration of the contract term. Credit events are defined under individual swap agreements and generally include bankruptcy, failure to pay, restructuring, repudiation/moratorium, obligation acceleration and obligation default.

If a credit event occurs, the Fund, as a protection seller, would be obligated to make a payment, which may be either: (i) a net cash settlement equal to the notional amount of the swap less the auction value of the reference obligation or (ii) the notional amount of the swap in exchange for the delivery of the reference obligation. Selling protection effectively adds leverage to the Fund's portfolio up to the notional amount of swap agreements. The notional amount represents the maximum potential liability under a contract. Potential liabilities under these contracts may be reduced by: the auction rates of the underlying reference obligations; upfront payments received at the inception of a swap; and net amounts received from credit default swaps purchased with the identical reference obligation.

<u>Interest Rate Swaps</u>

The Fund entered into interest rate swap contracts to manage fund exposure to interest rates or to either preserve or generate a return on a particular investment or portion of its portfolio. These are agreements between counterparties to exchange periodic interest payments based on interest rates. One cash flow stream will typically be a floating rate payment based upon a specified interest rate while the other is typically based on a fixed interest rate.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

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

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

- **a. Name of Series:** JPMorgan Global Bond Opportunities Fund

- **b. EDGAR series identifier (if any):** S000037860

- **c. LEI of Series:** MT8SIXIIHJKTY35SMK73

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

- **a. Date of fiscal year-end:** 2023-02-28

- **b. Date as of which information is reported:** 2022-11-30

**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:** $2970675963.76

**Total Liabilities:** $42242998.58

**Net Assets:** $2928432965.18

**Cash Not Reported:** $31236865.71

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1003.44692000 | **1-Year:** 50708.96500000 | **5-Year:** 176390.92310000 | **10-Year:** 225197.99698000 | **30-Year:** 181505.22322000

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

- **3-Month:** -106191.44160000 | **1-Year:** 60706.67372000 | **5-Year:** 315853.38732000 | **10-Year:** 92123.63741000 | **30-Year:** 71204.02808000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000116841 | -2.96%               | 0.38%                | 3.28%                |
| Class ID C000116842 | -3.01%               | 0.46%                | 3.15%                |
| Class ID C000116844 | -2.92%               | 0.41%                | 3.30%                |
| Class ID C000116843 | -2.94%               | 0.40%                | 3.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-18156711.54            | $-135735441.32                             |
| Month 2  | $-6663856.86             | $23422418.79                               |
| Month 3  | $-13347479.07            | $134540896.51                              |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Wynn Las Vegas LLC                                             | Wynn Las Vegas LLC                                                                       | CUSIP: 983130AV7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1875000 | PA      | $1799868.75   | 0.06%             | 2025-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Telekom International Finance BV                      | Deutsche Telekom International Finance BV                                                | CUSIP: 25156PAV5<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |   2655000 | PA      | $2601309.45   | 0.09%             | 2023-09-19      | Fixed         | 2.48%                 | Yes           |                  2 | On Loan: No      |
| Prestige Auto Receivables Trust                                | Prestige Auto Receivables Trust, Series 2018-1A, Class D                                 | CUSIP: 74114NAL1<br>LEI: 549300L40MNGIY25DE37 | Long             | ABS-O            | CORP              | US        |    834097 | PA      | $831656.19    | 0.03%             | 2024-10-15      | Fixed         | 4.14%                 | Yes           |                  2 | On Loan: No      |
| Amkor Technology, Inc.                                         | Amkor Technology, Inc.                                                                   | CUSIP: 031652BK5<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189046.33    | 0.01%             | 2027-09-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4173, Class I                                                       | CUSIP: 3137B0H31<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    358111 | PA      | $61220.85     | 0.00%             | 2043-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC                                     | Outfront Media Capital LLC                                                               | CUSIP: 69007TAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $398000.00    | 0.01%             | 2025-06-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                               | NRG Energy, Inc.                                                                         | CUSIP: 629377CC4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    310000 | PA      | $312387.00    | 0.01%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                       | Energizer Holdings, Inc.                                                                 | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   3230000 | PA      | $2747825.60   | 0.09%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Dometic Group AB                                               | Dometic Group AB                                                                         | CUSIP: N/A<br>LEI: 549300STIPMK5VSA7Y59       | Long             | DBT              | CORP              | SE        |   1000000 | PA      | $941655.60    | 0.03%             | 2026-05-08      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2017-57, Class SA                                                    | CUSIP: 3136AXNV3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3256727 | PA      | $411419.70    | 0.01%             | 2057-08-25      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2016-61, Class ST                                                    | CUSIP: 3136ATQE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6577116 | PA      | $701625.00    | 0.02%             | 2046-09-25      | Floating      | 1.98%                 | No            |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                         | Sonic Automotive, Inc.                                                                   | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |    400000 | PA      | $330000.00    | 0.01%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Quatrim SASU                                                   | Quatrim SASU                                                                             | CUSIP: N/A<br>LEI: 9695009HF8DZ2EWJAN45       | Long             | DBT              | CORP              | FR        |    676000 | PA      | $686387.05    | 0.02%             | 2024-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                 | DISH DBS Corp.                                                                           | CUSIP: 25470XAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5245000 | PA      | $4984113.70   | 0.17%             | 2024-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| IQVIA, Inc.                                                    | IQVIA, Inc.                                                                              | CUSIP: N/A<br>LEI: 549300PLWY28YB00C717       | Long             | DBT              | CORP              | US        |    756000 | PA      | $719714.51    | 0.02%             | 2026-03-15      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Hercules Achievement, Inc.                                     | Hercules Achievement, Inc., 1st Lien Term Loan                                           | CUSIP: 42703UAG0<br>LEI: 549300YOKDS0ZSYJRX81 | Long             | LON              | CORP              | US        |   3751905 | PA      | $3596463.23   | 0.12%             | 2024-12-16      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4313, Class UI                                                      | CUSIP: 3137B8WT0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    470880 | PA      | $25064.38     | 0.00%             | 2029-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Suzano Austria GmbH                                            | Suzano Austria GmbH                                                                      | CUSIP: 86964WAJ1<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    806000 | PA      | $669987.50    | 0.02%             | 2031-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Crown Americas LLC                                             | Crown Americas LLC                                                                       | CUSIP: 228187AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    274000 | PA      | $265344.34    | 0.01%             | 2026-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding XLV Ltd.                                  | Madison Park Funding XLV Ltd., Series 2020-45A, Class AR                                 | CUSIP: 55820BAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    675000 | PA      | $656409.83    | 0.02%             | 2034-07-15      | Floating      | 5.20%                 | Yes           |                  2 | On Loan: No      |
| ONEOK, Inc.                                                    | ONEOK, Inc.                                                                              | CUSIP: 682680BG7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1301000 | PA      | $1324684.82   | 0.05%             | 2032-11-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| CaixaBank SA                                                   | CaixaBank SA                                                                             | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | DBT              | CORP              | ES        |   6000000 | PA      | $6179415.84   | 0.21%             | 2023-09-19      | Variable      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Encino Acquisition Partners Holdings LLC                       | Encino Acquisition Partners Holdings LLC                                                 | CUSIP: 29254BAA5<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |    555000 | PA      | $531095.96    | 0.02%             | 2028-05-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K054, Class X3          | CUSIP: 3137BNGV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  66098000 | PA      | $2802092.51   | 0.10%             | 2043-04-25      | Variable      | 1.65%                 | No            |                  2 | On Loan: No      |
| Envision Healthcare Corp.                                      | Envision Healthcare Corp., 1st Lien Term Loan                                            | CUSIP: 29373UAF8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    131388 | PA      | $39416.42     | 0.00%             | 2027-03-31      | Variable      | 7.99%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                      | Standard Industries, Inc.                                                                | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    420000 | PA      | $344400.00    | 0.01%             | 2030-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Biogen, Inc.                                                   | Biogen, Inc.                                                                             | CUSIP: 09062XAH6<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |    596000 | PA      | $491674.22    | 0.02%             | 2030-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                      | DRIVEN BRANDS FUNDING LLC, Series 2019-2A, Class A2                                      | CUSIP: 26208LAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1784800 | PA      | $1583224.69   | 0.05%             | 2049-10-20      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| Nabors Industries Ltd.                                         | Nabors Industries Ltd.                                                                   | CUSIP: 629571AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    345000 | PA      | $331631.25    | 0.01%             | 2026-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                 | DISH DBS Corp.                                                                           | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    580000 | PA      | $485808.00    | 0.02%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DCP Midstream Operating LP                                     | DCP Midstream Operating LP                                                               | CUSIP: 23311RAA4<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    535000 | PA      | $548075.94    | 0.02%             | 2037-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                            | Constellation Energy Generation LLC                                                      | CUSIP: 30161MAN3<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |   2735000 | PA      | $2671746.21   | 0.09%             | 2042-06-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Faurecia SE                                                    | Faurecia SE                                                                              | CUSIP: N/A<br>LEI: 969500F0VMZLK2IULV85       | Long             | DBT              | CORP              | FR        |   4100000 | PA      | $3584253.07   | 0.12%             | 2027-06-15      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                    | Allied Universal Holdco LLC                                                              | CUSIP: 019576AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     94000 | PA      | $84825.60     | 0.00%             | 2027-07-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                 | JELD-WEN, Inc.                                                                           | CUSIP: 475795AE0<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    500000 | PA      | $470000.00    | 0.02%             | 2025-05-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                            | Nexstar Media, Inc.                                                                      | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    912000 | PA      | $859943.04    | 0.03%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                   | Trivium Packaging Finance BV                                                             | CUSIP: 89686QAA4<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $187934.00    | 0.01%             | 2026-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | Nmg Research Ltd.                                                                        | CUSIP: 62929P110<br>LEI: N/A                  | N/A              | DO               |  | GB        |     42894 | NS      | $1894627.98   | 0.06%             |  |  |  | No            |                  3 | On Loan: No      |
| LB-UBS Commercial Mortgage Trust                               | LB-UBS Commercial Mortgage Trust, Series 2006-C6, Class AJ                               | CUSIP: 50179MAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1170917 | PA      | $513369.88    | 0.02%             | 2039-09-15      | Variable      | 5.45%                 | No            |                  3 | On Loan: No      |
| N/A                                                            | U.S. Treasury 5 Year Note                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |     -1412 | NC      | $-1050792.04  | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| PetSmart, Inc.                                                 | PetSmart, Inc.                                                                           | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3135000 | PA      | $2864230.05   | 0.10%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Videotron Ltd.                                                 | Videotron Ltd.                                                                           | CUSIP: 92660FAG9<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |   1300000 | PA      | $1287000.00   | 0.04%             | 2024-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                            | Iron Mountain, Inc.                                                                      | CUSIP: 46284VAG6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1818770.00   | 0.06%             | 2028-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Tekni-Plex, Inc.                                               | Tekni-Plex, Inc., 1st Lien Term Loan                                                     | CUSIP: 00216EAE9<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |    739856 | PA      | $709070.38    | 0.02%             | 2028-09-15      | Variable      | 7.67%                 | No            |                  2 | On Loan: No      |
| Structured Adjustable Rate Mortgage Loan Trust                 | Structured Adjustable Rate Mortgage Loan Trust, Series 2005-1, Class 5A1                 | CUSIP: 863579LE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     91471 | PA      | $87177.67     | 0.00%             | 2035-02-25      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Iberdrola International BV                                     | Iberdrola International BV                                                               | CUSIP: N/A<br>LEI: 549300ZMLFJKWC63XN87       | Long             | DBT              | CORP              | NL        |   3400000 | PA      | $3435868.51   | 0.12%             | 2023-12-26      | Variable      | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Smurfit Kappa Treasury ULC                                     | Smurfit Kappa Treasury ULC                                                               | CUSIP: N/A<br>LEI: 635400B3DOXSWFOWJT40       | Long             | DBT              | CORP              | IE        |   1500000 | PA      | $1421611.54   | 0.05%             | 2027-09-15      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                                    | Block, Inc.                                                                              | CUSIP: 852234AF0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   1725000 | PA      | $1684031.25   | 0.06%             | 2025-03-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| PTC, Inc.                                                      | PTC, Inc.                                                                                | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    315000 | PA      | $287453.25    | 0.01%             | 2028-02-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38145GAH3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   6460000 | PA      | $6144606.52   | 0.21%             | 2026-11-16      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                                 | Takeda Pharmaceutical Co. Ltd.                                                           | CUSIP: 874060AY2<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |   3920000 | PA      | $2931440.29   | 0.10%             | 2040-07-09      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                               | CCO Holdings LLC                                                                         | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3475000 | PA      | $3194428.50   | 0.11%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                      | Telecom Italia Capital SA                                                                | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |   1917000 | PA      | $1574336.25   | 0.05%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                        | Chesapeake Energy Corp.                                                                  | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |   1985000 | PA      | $1967631.25   | 0.07%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                        | Quikrete Holdings, Inc., 1st Lien Term Loan B                                            | CUSIP: 74839XAG4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     16816 | PA      | $16542.83     | 0.00%             | 2028-06-11      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| Transocean Pontus Ltd.                                         | Transocean Pontus Ltd.                                                                   | CUSIP: 89382PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    137760 | PA      | $133627.20    | 0.00%             | 2025-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Jamaica                                                        | Jamaica Government Bond                                                                  | CUSIP: 470160AV4<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |   1410000 | PA      | $1603698.75   | 0.05%             | 2039-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                        | Hyundai Capital America                                                                  | CUSIP: 44891ABD8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   8025000 | PA      | $7336865.08   | 0.25%             | 2026-11-02      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                       | U.S. Treasury Inflation Indexed Notes                                                    | CUSIP: 91282CEZ0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  41910000 | PA      | $40266275.08  | 1.38%             | 2032-07-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                                   | BX Commercial Mortgage Trust, Series 2021-XL2, Class A                                   | CUSIP: 05609KAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7214477 | PA      | $6880463.79   | 0.23%             | 2038-10-15      | Floating      | 4.56%                 | Yes           |                  2 | On Loan: No      |
| Serta Simmons Bedding LLC                                      | Serta Simmons Bedding LLC, 1st Lien Term Loan                                            | CUSIP: 81753HAG6<br>LEI: 549300M4F4V4WFPNI116 | Long             | LON              | CORP              | US        |   2954660 | PA      | $1358463.99   | 0.05%             | 2023-08-10      | Variable      | 10.79%                | No            |                  2 | On Loan: No      |
| IRB Holding Corp.                                              | IRB Holding Corp., 1st Lien Term Loan B                                                  | CUSIP: 44988LAF4<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |   1060050 | PA      | $1039983.15   | 0.04%             | 2025-02-05      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| Duke Energy Progress LLC                                       | Duke Energy Progress LLC                                                                 | CUSIP: 26442UAN4<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $1257216.76   | 0.04%             | 2032-04-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| JPMorgan Prime Money Market Fund                               | JPMorgan Prime Money Market Fund, Class Institutional                                    | CUSIP: 4812A2603<br>LEI: 549300YD7H8SEEU7VG41 | Long             | STIV             | RF                | US        |  46458791 | NS      | $46472728.15  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CGG SA                                                         | CGG SA                                                                                   | CUSIP: N/A<br>LEI: 969500FCVQ5SLAAUJV59       | Long             | DBT              | CORP              | FR        |   1176000 | PA      | $1026348.10   | 0.04%             | 2027-04-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                            | Exeter Automobile Receivables Trust, Series 2019-3A, Class E                             | CUSIP: 30167EAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1570000 | PA      | $1501614.25   | 0.05%             | 2026-08-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| State of Qatar                                                 | State of Qatar                                                                           | CUSIP: N/A<br>LEI: 52990074F6OJOAXK4P65       | Long             | DBT              | NUSS              | QA        |    528000 | PA      | $493680.00    | 0.02%             | 2046-06-02      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Scripps Escrow II, Inc.                                        | Scripps Escrow II, Inc.                                                                  | CUSIP: 81105DAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $81646.00     | 0.00%             | 2031-01-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                         | Velocity Commercial Capital Loan Trust, Series 2019-3, Class A                           | CUSIP: 92257HAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    769267 | PA      | $725285.51    | 0.02%             | 2049-10-25      | Variable      | 3.03%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                              | NatWest Group plc                                                                        | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    822000 | PA      | $752130.00    | 0.03%             | 2025-12-29      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Ultimate Software Group, Inc. (The)                            | Ultimate Software Group, Inc. (The), 1st Lien Term Loan                                  | CUSIP: 90385KAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    979798 | PA      | $953265.07    | 0.03%             | 2026-05-04      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                   | Verizon Communications, Inc.                                                             | CUSIP: 92343VFT6<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    905000 | PA      | $626479.83    | 0.02%             | 2040-11-20      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                              | Philip Morris International, Inc.                                                        | CUSIP: 718172CW7<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5084768.70   | 0.17%             | 2029-11-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: 345397B69<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3062000 | PA      | $2511286.44   | 0.09%             | 2031-06-17      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38148YAA6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2665000 | PA      | $2247430.18   | 0.08%             | 2038-10-31      | Variable      | 4.02%                 | No            |                  2 | On Loan: No      |
| Grifols SA                                                     | Grifols SA                                                                               | CUSIP: N/A<br>LEI: 959800HSSNXWRKBK4N60       | Long             | DBT              | CORP              | ES        |    400000 | PA      | $380891.24    | 0.01%             | 2025-05-01      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| Business Jet Securities LLC                                    | Business Jet Securities LLC, Series 2020-1A, Class C                                     | CUSIP: 12327FAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1546650 | PA      | $1450819.72   | 0.05%             | 2035-11-15      | Fixed         | 7.14%                 | Yes           |                  3 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc.                                                                          | CUSIP: 172967LD1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3415000 | PA      | $3221386.58   | 0.11%             | 2028-01-10      | Variable      | 3.89%                 | No            |                  2 | On Loan: No      |
| VMware, Inc.                                                   | VMware, Inc.                                                                             | CUSIP: 928563AF2<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |   2057000 | PA      | $1931513.48   | 0.07%             | 2030-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                        | Molina Healthcare, Inc.                                                                  | CUSIP: 60855RAK6<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    800000 | PA      | $688000.00    | 0.02%             | 2030-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| APi Group DE, Inc.                                             | APi Group DE, Inc.                                                                       | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |    218000 | PA      | $187098.04    | 0.01%             | 2029-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Kennedy-Wilson, Inc.                                           | Kennedy-Wilson, Inc.                                                                     | CUSIP: 489399AL9<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $811750.00    | 0.03%             | 2029-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Pro-Gest SpA                                                   | Pro-Gest SpA                                                                             | CUSIP: N/A<br>LEI: 815600EDD04F9C60D660       | Long             | DBT              | CORP              | IT        |   1700000 | PA      | $1145440.81   | 0.04%             | 2024-12-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| NCR Corp.                                                      | NCR Corp.                                                                                | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   2595000 | PA      | $2257650.00   | 0.08%             | 2028-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara      | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara                                | CUSIP: 71568PAN9<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | NUSS              | ID        |   2940000 | PA      | $2374601.25   | 0.08%             | 2030-06-30      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Bellis Acquisition Co. plc                                     | Bellis Acquisition Co. plc                                                               | CUSIP: N/A<br>LEI: 259400CYE2267UB4A481       | Long             | DBT              | CORP              | GB        |    314000 | PA      | $307680.15    | 0.01%             | 2026-02-16      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                         | Tenet Healthcare Corp.                                                                   | CUSIP: 88033GDA5<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1237000 | PA      | $1164499.43   | 0.04%             | 2027-11-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| International Game Technology plc                              | International Game Technology plc                                                        | CUSIP: N/A<br>LEI: 549300UQ6KHRCZDRGZ76       | Long             | DBT              | CORP              | GB        |   2042000 | PA      | $1848667.54   | 0.06%             | 2028-04-15      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| RASC Trust                                                     | RASC Trust, Series 2005-KS2, Class M1                                                    | CUSIP: 76110WN69<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2640 | PA      | $2627.72      | 0.00%             | 2035-03-25      | Floating      | 4.69%                 | No            |                  3 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2017-KF29, Class B                                          | CUSIP: 30300PAA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    624422 | PA      | $623607.97    | 0.02%             | 2024-02-25      | Floating      | 7.35%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                                  | Organon & Co.                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1756000 | PA      | $1603377.06   | 0.05%             | 2028-04-30      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Repsol International Finance BV                                | Repsol International Finance BV                                                          | CUSIP: N/A<br>LEI: 5493002YCY6HTK0OUR29       | Long             | DBT              | CORP              | NL        |   3550000 | PA      | $3574070.80   | 0.12%             | 2075-03-25      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                      | Bank of Nova Scotia (The)                                                                | CUSIP: 06417XAG6<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   5585000 | PA      | $4815831.68   | 0.16%             | 2037-05-04      | Variable      | 4.59%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                       | Republic of South Africa                                                                 | CUSIP: N/A<br>LEI: 378900AAFB4F17004C49       | Long             | DBT              | NUSS              | ZA        | 547332117 | PA      | $26756873.65  | 0.91%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| KeyBank NA                                                     | KeyBank NA                                                                               | CUSIP: 49327M3A0<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   3530000 | PA      | $3512678.29   | 0.12%             | 2024-01-03      | Variable      | 0.42%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Co.                                        | Southwestern Energy Co.                                                                  | CUSIP: 845467AL3<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    126000 | PA      | $124740.00    | 0.00%             | 2025-01-23      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| People's Republic of China                                     | People's Republic of China                                                               | CUSIP: N/A<br>LEI: 300300CHN201808MOF68       | Long             | DBT              | NUSS              | CN        | 119530000 | PA      | $16713065.61  | 0.57%             | 2032-02-17      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                      | EQM Midstream Partners LP                                                                | CUSIP: 26885BAF7<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34300.00     | 0.00%             | 2025-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Metropolitan Life Global Funding I                             | Metropolitan Life Global Funding I                                                       | CUSIP: 59217GEZ8<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1901211.25   | 0.06%             | 2029-03-21      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Snap, Inc.                                                     | Snap, Inc.                                                                               | CUSIP: 83304AAG1<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $689312.50    | 0.02%             | 2028-03-01      | Fixed         | 0.12%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                      | Vistra Operations Co. LLC                                                                | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    820000 | PA      | $793311.57    | 0.03%             | 2027-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                            | Post Holdings, Inc.                                                                      | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   1409000 | PA      | $1294117.19   | 0.04%             | 2029-12-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                                    | Hertz Vehicle Financing LLC, Series 2021-1A, Class C                                     | CUSIP: 42806MAC3<br>LEI: 5493004IHDYOZ9K9WF47 | Long             | ABS-O            | CORP              | US        |   1370000 | PA      | $1223030.37   | 0.04%             | 2025-12-26      | Fixed         | 2.05%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                  | Asbury Automotive Group, Inc.                                                            | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |   1236000 | PA      | $1078410.00   | 0.04%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | U.S. Treasury 10 Year Note                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -7 | NC      | $-6303.76     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Corp.                                                    | Hertz Corp., Escrow                                                                      | CUSIP: 428ESCAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $22525.00     | 0.00%             | 2026-08-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CF Industries, Inc.                                            | CF Industries, Inc.                                                                      | CUSIP: 12527GAD5<br>LEI: 5FVKT86LAD2F40NPC183 | Long             | DBT              | CORP              | US        |   3016000 | PA      | $2620429.73   | 0.09%             | 2043-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Standard Chartered plc                                         | Standard Chartered plc                                                                   | CUSIP: 853254CN8<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $2109744.82   | 0.07%             | 2028-11-16      | Variable      | 7.77%                 | Yes           |                  2 | On Loan: No      |
| UAE International Government Bond                              | UAE International Government Bond                                                        | CUSIP: 31424EAD4<br>LEI: N/A                  | Long             | DBT              | NUSS              | AE        |   4965000 | PA      | $4847081.25   | 0.17%             | 2032-07-07      | Fixed         | 4.05%                 | Yes           |                  2 | On Loan: No      |
| Anheuser-Busch Cos. LLC                                        | Anheuser-Busch Cos. LLC                                                                  | CUSIP: 03522AAJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4955000 | PA      | $4635319.55   | 0.16%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Huarong Finance 2019 Co. Ltd.                                  | Huarong Finance 2019 Co. Ltd.                                                            | CUSIP: N/A<br>LEI: 549300M6T6OW4AGYHK10       | Long             | DBT              | CORP              | VG        |   1865000 | PA      | $1772099.69   | 0.06%             | 2023-09-30      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| Amgen, Inc.                                                    | Amgen, Inc.                                                                              | CUSIP: 031162DF4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   3820000 | PA      | $3127481.02   | 0.11%             | 2052-02-22      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GJL4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3490000 | PA      | $2703200.86   | 0.09%             | 2031-10-24      | Variable      | 1.92%                 | No            |                  2 | On Loan: No      |
| Chrome Bidco SASU                                              | Chrome Bidco SASU                                                                        | CUSIP: N/A<br>LEI: 9845000C1FYE89DC8677       | Long             | DBT              | CORP              | FR        |   1645000 | PA      | $1502093.10   | 0.05%             | 2028-05-31      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                                   | Ardagh Packaging Finance plc                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | IE        |    800000 | PA      | $707662.10    | 0.02%             | 2026-08-15      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K047, Class X3          | CUSIP: 3137BKRL6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  28400000 | PA      | $940167.80    | 0.03%             | 2043-06-25      | Variable      | 1.55%                 | No            |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                     | Allison Transmission, Inc.                                                               | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   3525000 | PA      | $3331973.78   | 0.11%             | 2029-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2015-H13, Class GI                                                          | CUSIP: 38376RCK0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2071855 | PA      | $48035.95     | 0.00%             | 2065-04-20      | Variable      | 1.43%                 | 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      | $8666.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Ecuador                                            | Republic of Ecuador                                                                      | CUSIP: N/A<br>LEI: 5299003Y2U5XK0A35H71       | Long             | DBT              | NUSS              | EC        |   5870000 | PA      | $2556385.00   | 0.09%             | 2035-07-31      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Crown Castle, Inc.                                             | Crown Castle, Inc.                                                                       | CUSIP: 22822VAR2<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    260000 | PA      | $228659.93    | 0.01%             | 2030-07-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Abertis Infraestructuras Finance BV                            | Abertis Infraestructuras Finance BV                                                      | CUSIP: N/A<br>LEI: 5493007WHKI5H75YJ358       | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $842798.60    | 0.03%             | 2027-01-26      | Variable      | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GKJ7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3060000 | PA      | $2737503.48   | 0.09%             | 2028-02-04      | Variable      | 2.55%                 | No            |                  2 | On Loan: No      |
| Navient Corp.                                                  | Navient Corp.                                                                            | CUSIP: 63938CAK4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    385000 | PA      | $336389.68    | 0.01%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                               | CSC Holdings LLC                                                                         | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2180000 | PA      | $1986677.60   | 0.07%             | 2029-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                            | Intesa Sanpaolo SpA                                                                      | CUSIP: 46115HBU0<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    745000 | PA      | $757744.09    | 0.03%             | 2025-11-21      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Nexa Resources SA                                              | Nexa Resources SA                                                                        | CUSIP: N/A<br>LEI: 549300QRMRHM7GAU7L47       | Long             | DBT              | CORP              | LU        |   4523000 | PA      | $4174186.24   | 0.14%             | 2027-05-04      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Central Garden & Pet Co.                                       | Central Garden & Pet Co.                                                                 | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |   3445000 | PA      | $2867962.50   | 0.10%             | 2030-10-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                   | Royal Caribbean Cruises Ltd.                                                             | CUSIP: 780153BR2<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    140000 | PA      | $143326.40    | 0.00%             | 2029-01-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                      | Williams Cos., Inc. (The)                                                                | CUSIP: 88339WAA4<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   3945000 | PA      | $2790153.01   | 0.10%             | 2051-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ContourGlobal Power Holdings SA                                | ContourGlobal Power Holdings SA                                                          | CUSIP: N/A<br>LEI: 549300O5AGIFK0PQ1516       | Long             | DBT              | CORP              | LU        |    572000 | PA      | $482262.93    | 0.02%             | 2028-01-01      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2017-KF38, Class B                                          | CUSIP: 30305MAG5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    250502 | PA      | $246197.69    | 0.01%             | 2024-09-25      | Floating      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Telefonica Emisiones SA                                        | Telefonica Emisiones SA                                                                  | CUSIP: 87938WAV5<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    930000 | PA      | $757246.72    | 0.03%             | 2038-03-06      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4694, Class SA                                                      | CUSIP: 3137BYWM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3000465 | PA      | $384521.57    | 0.01%             | 2047-06-15      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Hologic, Inc.                                                  | Hologic, Inc.                                                                            | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |    482000 | PA      | $423490.02    | 0.01%             | 2029-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| JetBlue Pass-Through Trust                                     | JetBlue Pass-Through Trust, Series 2020-1, Class B                                       | CUSIP: 477164AB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    403575 | PA      | $390989.77    | 0.01%             | 2028-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                          | Mex Bonos Desarr Fix Rt                                                                  | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        | 511000000 | PA      | $24804780.63  | 0.85%             | 2038-11-18      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Trust                                   | Chase Mortgage Finance Trust, Series 2007-A1, Class 2A3                                  | CUSIP: 161630AJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     22615 | PA      | $20449.30     | 0.00%             | 2037-02-25      | Variable      | 3.65%                 | 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      | $-82897.84    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GCI LLC                                                        | GCI LLC                                                                                  | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |   2310000 | PA      | $1979046.30   | 0.07%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                          | Albertsons Cos., Inc.                                                                    | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    605000 | PA      | $559679.45    | 0.02%             | 2027-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                       | UnitedHealth Group, Inc.                                                                 | CUSIP: 91324PER9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   3770000 | PA      | $3925499.80   | 0.13%             | 2033-02-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                           | Mitsubishi UFJ Financial Group, Inc.                                                     | CUSIP: 606822CC6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   5750000 | PA      | $5077022.36   | 0.17%             | 2028-01-19      | Variable      | 2.34%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets plc                                         | BP Capital Markets plc                                                                   | CUSIP: 05565QDU9<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   3406000 | PA      | $3239957.50   | 0.11%             | 2025-06-22      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Q-Park Holding I BV                                            | Q-Park Holding I BV                                                                      | CUSIP: N/A<br>LEI: 2549003839B7HE3NDP48       | Long             | DBT              | CORP              | NL        |    275000 | PA      | $262556.39    | 0.01%             | 2025-03-01      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                               | ABN AMRO Bank NV                                                                         | CUSIP: 00084DAL4<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   2000000 | PA      | $1903496.00   | 0.07%             | 2026-04-18      | 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      | $18617.03     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fells Point Funding Trust                                      | Fells Point Funding Trust                                                                | CUSIP: 314382AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2795000 | PA      | $2544474.26   | 0.09%             | 2027-01-31      | Fixed         | 3.05%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2016-75, Class SC                                                    | CUSIP: 3136AT2D5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8041014 | PA      | $637489.15    | 0.02%             | 2046-10-25      | Floating      | 2.08%                 | 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      | $-30100.18    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Country Garden Holdings Co. Ltd.                               | Country Garden Holdings Co. Ltd.                                                         | CUSIP: N/A<br>LEI: 549300MGHLPT1EFHGF84       | Long             | DBT              | CORP              | KY        |   6408000 | PA      | $3011760.00   | 0.10%             | 2025-10-22      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Lincoln Financing SARL                                         | Lincoln Financing SARL                                                                   | CUSIP: N/A<br>LEI: 222100831I4WRVCLV609       | Long             | DBT              | CORP              | LU        |    560000 | PA      | $571139.56    | 0.02%             | 2024-04-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                            | American Axle & Manufacturing, Inc.                                                      | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1673200.00   | 0.06%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Co.                                        | Southwestern Energy Co.                                                                  | CUSIP: 845467AP4<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    630000 | PA      | $654213.07    | 0.02%             | 2028-09-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA                                             | Cellnex Telecom SA                                                                       | CUSIP: N/A<br>LEI: 5493008T4YG3AQUI7P67       | Long             | DBT              | CORP              | ES        |    900000 | PA      | $782694.58    | 0.03%             | 2029-06-26      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                                   | Ardagh Packaging Finance plc                                                             | CUSIP: 03969AAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365000 | PA      | $276049.50    | 0.01%             | 2027-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Rite Aid Corp.                                                 | Rite Aid Corp.                                                                           | CUSIP: 767754CL6<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |   2273000 | PA      | $1414237.87   | 0.05%             | 2026-11-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                           | BANK, Series 2018-BN10, Class C                                                          | CUSIP: 065404BE4<br>LEI: 549300GL0Y86051URC66 | Long             | ABS-MBS          | CORP              | US        |   1168000 | PA      | $986617.43    | 0.03%             | 2061-02-15      | Variable      | 4.16%                 | No            |                  3 | On Loan: No      |
| Morgan Stanley Capital I Trust                                 | Morgan Stanley Capital I Trust, Series 2005-HQ7, Class E                                 | CUSIP: 617451BW8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    820698 | PA      | $804379.56    | 0.03%             | 2042-11-14      | Variable      | 5.49%                 | No            |                  3 | On Loan: No      |
| TI Automotive Finance plc                                      | TI Automotive Finance plc                                                                | CUSIP: N/A<br>LEI: 549300MZ54ZRN8UFQS35       | Long             | DBT              | CORP              | GB        |   1513000 | PA      | $1216245.49   | 0.04%             | 2029-04-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Matterhorn Telecom SA                                          | Matterhorn Telecom SA                                                                    | CUSIP: N/A<br>LEI: 549300MTB0YI26SMUT22       | Long             | DBT              | CORP              | LU        |   2724000 | PA      | $2559156.88   | 0.09%             | 2026-09-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2017-K729, Class B                                          | CUSIP: 30306HAS9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    900000 | PA      | $858885.30    | 0.03%             | 2049-11-25      | Variable      | 3.80%                 | Yes           |                  2 | On Loan: No      |
| Gartner, Inc.                                                  | Gartner, Inc.                                                                            | CUSIP: 366651AE7<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    845000 | PA      | $730925.00    | 0.02%             | 2030-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Cirsa Finance International SARL                               | Cirsa Finance International SARL                                                         | CUSIP: N/A<br>LEI: 254900KUJN6DHWH2K029       | Long             | DBT              | CORP              | LU        |    178341 | PA      | $184555.02    | 0.01%             | 2023-12-20      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Hughes Satellite Systems Corp.                                 | Hughes Satellite Systems Corp.                                                           | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1413000 | PA      | $1313616.69   | 0.04%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2016-157                                                                    | CUSIP: 38379U2A3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6429738 | PA      | $279917.35    | 0.01%             | 2057-11-16      | Variable      | 0.89%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2018-KF50, Class B                                          | CUSIP: 35709BAC9<br>LEI: 549300LI8XT0ZWPV2P54 | Long             | ABS-MBS          | USGSE             | US        |    645220 | PA      | $634760.86    | 0.02%             | 2028-07-25      | Floating      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Summit Materials LLC                                           | Summit Materials LLC                                                                     | CUSIP: 86614RAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    583000 | PA      | $538196.45    | 0.02%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                                         | Tesla Auto Lease Trust, Series 2020-A, Class E                                           | CUSIP: 88167HAH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1220000 | PA      | $1199292.21   | 0.04%             | 2024-08-20      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| Big River Steel LLC                                            | Big River Steel LLC                                                                      | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $384284.96    | 0.01%             | 2029-01-31      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Romania                                                        | Romania Government Bond                                                                  | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |   5389000 | PA      | $5687031.57   | 0.19%             | 2029-09-27      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                                      | HCA, Inc.                                                                                | CUSIP: 404119BR9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3437000 | PA      | $3431375.25   | 0.12%             | 2025-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, STRIPS, Series 319, Class S2                                                      | CUSIP: 31325UVU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7036995 | PA      | $743358.43    | 0.03%             | 2043-11-15      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GXJ8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2830000 | PA      | $2738538.11   | 0.09%             | 2025-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ultra Resources, Inc.                                          | Ultra Resources, Inc., 1st Lien Term Loan B                                              | CUSIP: L1802PAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    461538 | PA      | $446538.46    | 0.02%             | 2029-08-03      | Variable      | 7.06%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                            | Hilton Domestic Operating Co., Inc.                                                      | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    654000 | PA      | $605211.60    | 0.02%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                              | NatWest Group plc                                                                        | CUSIP: 639057AF5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   4800000 | PA      | $4715398.22   | 0.16%             | 2028-09-30      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                       | Bausch Health Cos., Inc.                                                                 | CUSIP: 91911KAN2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2797000 | PA      | $2363157.33   | 0.08%             | 2025-11-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties LP                                             | VICI Properties LP                                                                       | CUSIP: 92564RAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $207057.86    | 0.01%             | 2025-02-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Comcast Corp.                                                  | Comcast Corp.                                                                            | CUSIP: 20030NDW8<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   3052000 | PA      | $1930808.67   | 0.07%             | 2063-11-01      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                   | AbbVie, Inc.                                                                             | CUSIP: 00287YCA5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   2415000 | PA      | $2109865.26   | 0.07%             | 2039-11-21      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                   | UBS Group AG                                                                             | CUSIP: 902613AS7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3558000 | PA      | $3441525.06   | 0.12%             | 2027-08-05      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| United Mexican States                                          | United Mexican States                                                                    | CUSIP: 91087BAP5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  11835000 | PA      | $7899862.50   | 0.27%             | 2071-04-19      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Motion Finco SARL                                              | Motion Finco SARL                                                                        | CUSIP: N/A<br>LEI: 2549002L1LBQZKA7UN30       | Long             | DBT              | CORP              | LU        |    450000 | PA      | $467923.48    | 0.02%             | 2025-05-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Crown Castle, Inc.                                             | Crown Castle, Inc.                                                                       | CUSIP: 22822VAB7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2932716.57   | 0.10%             | 2026-02-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                          | Westpac Banking Corp.                                                                    | CUSIP: 961214DF7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    900000 | PA      | $821733.39    | 0.03%             | 2031-11-23      | Variable      | 4.32%                 | No            |                  2 | On Loan: No      |
| Envision Healthcare Corp.                                      | Envision Healthcare Corp.                                                                | CUSIP: 29373TAA2<br>LEI: 549300OL60X0LPKY8N60 | Long             | DBT              | CORP              | US        |    258000 | PA      | $74820.00     | 0.00%             | 2026-10-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Schaeffler AG                                                  | Schaeffler AG                                                                            | CUSIP: D6T0B6DT0<br>LEI: 549300Q7E782X7GC1P43 | Long             | DBT              | CORP              | DE        |    600000 | PA      | $565826.25    | 0.02%             | 2028-10-12      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                      | Vistra Operations Co. LLC                                                                | CUSIP: 92840VAA0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    332000 | PA      | $321286.11    | 0.01%             | 2026-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Belden, Inc.                                                   | Belden, Inc.                                                                             | CUSIP: N/A<br>LEI: 68BKYO1JC791TTJHUE82       | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2863627.16   | 0.10%             | 2027-07-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                                   | Oriental Republic of Uruguay                                                             | CUSIP: 760942BA9<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    695129 | PA      | $691653.36    | 0.02%             | 2050-06-18      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                 | DISH DBS Corp.                                                                           | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3795000 | PA      | $3258007.50   | 0.11%             | 2026-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                                        | BPCE SA                                                                                  | CUSIP: 05578QAE3<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   1880000 | PA      | $1794197.19   | 0.06%             | 2026-04-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                                 | US Foods, Inc.                                                                           | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    135000 | PA      | $120301.20    | 0.00%             | 2029-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                          | WMG Acquisition Corp.                                                                    | CUSIP: 92933BAR5<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |   1306000 | PA      | $1082419.33   | 0.04%             | 2031-02-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                              | HSBC Holdings plc                                                                        | CUSIP: 404280CU1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2570000 | PA      | $2460293.46   | 0.08%             | 2024-08-17      | Variable      | 0.73%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                               | Altice France SA                                                                         | CUSIP: N/A<br>LEI: 5493001ZMCICV4N02J21       | Long             | DBT              | CORP              | FR        |   2159000 | PA      | $1786091.06   | 0.06%             | 2028-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties LP                                             | VICI Properties LP                                                                       | CUSIP: 92564RAJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    258000 | PA      | $250006.40    | 0.01%             | 2027-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Apple, Inc.                                                    | Apple, Inc.                                                                              | CUSIP: 037833EF3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    930000 | PA      | $636015.64    | 0.02%             | 2051-02-08      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Empresa de Transporte de Pasajeros Metro SA                    | Empresa de Transporte de Pasajeros Metro SA                                              | CUSIP: 29246QAE5<br>LEI: 959800T4M5QUPYMSCH69 | Long             | DBT              | NUSS              | CL        |   2890000 | PA      | $2272804.38   | 0.08%             | 2050-05-07      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Boyne USA, Inc.                                                | Boyne USA, Inc.                                                                          | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1414972.80   | 0.05%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                               | CCO Holdings LLC                                                                         | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7188000 | PA      | $6179688.64   | 0.21%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Vista Outdoor, Inc.                                            | Vista Outdoor, Inc.                                                                      | CUSIP: 928377AC4<br>LEI: 549300QI2D33ESTJLN81 | Long             | DBT              | CORP              | US        |   4054000 | PA      | $3081040.00   | 0.11%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Southern Copper Corp.                                          | Southern Copper Corp.                                                                    | CUSIP: 84265VAJ4<br>LEI: 2549007U6NAP46Q9TU15 | Long             | DBT              | CORP              | US        |   3070000 | PA      | $3057144.38   | 0.10%             | 2045-04-23      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Argent Securities, Inc. Asset-Backed Pass-Through Certificates | Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2004-W3, Class A3 | CUSIP: 040104FW6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     46554 | PA      | $42991.06     | 0.00%             | 2034-02-25      | Floating      | 3.45%                 | No            |                  3 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2017-13, Class AS                                                    | CUSIP: 3136AVFQ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5848967 | PA      | $686592.05    | 0.02%             | 2047-02-25      | Floating      | 2.03%                 | No            |                  2 | On Loan: No      |
| Paraguay Government International Bond                         | Republic of Paraguay                                                                     | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |   2278000 | PA      | $1915370.88   | 0.07%             | 2050-03-30      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                   | Avolon Holdings Funding Ltd.                                                             | CUSIP: 05401AAL5<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   2300000 | PA      | $2086815.23   | 0.07%             | 2026-04-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K731, Class X3          | CUSIP: 3137F4X49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3460000 | PA      | $168266.03    | 0.01%             | 2025-05-25      | Variable      | 2.18%                 | 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      | $127909.94    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                               | CVS Health Corp.                                                                         | CUSIP: 126650DP2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   3480000 | PA      | $2449033.54   | 0.08%             | 2040-08-21      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| RASC Trust                                                     | RASC Trust, Series 2005-EMX1, Class M1                                                   | CUSIP: 76110WQ58<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    218237 | PA      | $215396.47    | 0.01%             | 2035-03-25      | Floating      | 4.69%                 | No            |                  3 | On Loan: No      |
| FNMA                                                           | FNMA ACES, Series 2016-M4, Class X2                                                      | CUSIP: 3136ARP44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3113852 | PA      | $50250.72     | 0.00%             | 2039-01-25      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K041, Class X3          | CUSIP: 3137BFEB3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  30520000 | PA      | $790263.52    | 0.03%             | 2042-11-25      | Variable      | 1.70%                 | No            |                  2 | On Loan: No      |
| Republic of Italy                                              | Italian Republic Government Bond                                                         | CUSIP: 465410CD8<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |  13407000 | PA      | $12460626.68  | 0.43%             | 2024-05-06      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Diamond Resorts Owner Trust                                    | Diamond Resorts Owner Trust, Series 2018-1, Class C                                      | CUSIP: 252724AC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    976391 | PA      | $953023.14    | 0.03%             | 2031-01-21      | Fixed         | 4.53%                 | Yes           |                  3 | On Loan: No      |
| Telecom Italia Capital SA                                      | Telecom Italia Capital SA                                                                | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     68000 | PA      | $52515.72     | 0.00%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Alternative Loan Trust                                | JPMorgan Alternative Loan Trust, Series 2006-A2, Class 1A1                               | CUSIP: 46628GAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1715370 | PA      | $1410136.38   | 0.05%             | 2036-05-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                      | Telecom Italia Capital SA                                                                | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |   1300000 | PA      | $1077570.00   | 0.04%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1397485.51   | 0.05%             | 2032-04-22      | Variable      | 2.62%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                           | Clear Channel Outdoor Holdings, Inc.                                                     | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2074000 | PA      | $1787475.05   | 0.06%             | 2027-08-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2017-151                                                                    | CUSIP: 38379R7G2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2402449 | PA      | $96284.37     | 0.00%             | 2057-09-16      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                   | UBS Group AG                                                                             | CUSIP: 902613AT5<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2195000 | PA      | $2045016.95   | 0.07%             | 2033-08-05      | Variable      | 4.99%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                | Live Nation Entertainment, Inc.                                                          | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    450000 | PA      | $450851.85    | 0.02%             | 2027-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP                                                        | MPLX LP                                                                                  | CUSIP: 55336VAK6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    905000 | PA      | $863785.53    | 0.03%             | 2027-03-01      | 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      | $-91903.86    | -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      | $344.01       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                           | Prime Security Services Borrower LLC                                                     | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $35194.80     | 0.00%             | 2027-08-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Netflix, Inc.                                                  | Netflix, Inc.                                                                            | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     92000 | PA      | $88815.64     | 0.00%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                                         | Encompass Health Corp.                                                                   | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    642000 | PA      | $577321.99    | 0.02%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                            | American Axle & Manufacturing, Inc.                                                      | CUSIP: 02406PAY6<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    129000 | PA      | $122178.18    | 0.00%             | 2026-03-15      | Fixed         | 6.25%                 | 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      | $-146337.72   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                                     | Edgewell Personal Care Co.                                                               | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |   2444000 | PA      | $2122687.54   | 0.07%             | 2029-04-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                | Live Nation Entertainment, Inc.                                                          | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1624482.00   | 0.06%             | 2027-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| TotalEnergies Capital International SA                         | TotalEnergies Capital International SA                                                   | CUSIP: 89153VAT6<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |   4885000 | PA      | $4356092.75   | 0.15%             | 2030-01-10      | Fixed         | 2.83%                 | No            |                  2 | On Loan: No      |
| TripAdvisor, Inc.                                              | TripAdvisor, Inc.                                                                        | CUSIP: 896945AD4<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |   4350000 | PA      | $3453900.00   | 0.12%             | 2026-04-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                         | Santander Drive Auto Receivables Trust, Series 2022-6, Class C                           | CUSIP: 802918AE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1035000 | PA      | $998841.03    | 0.03%             | 2028-11-15      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| ams-OSRAM AG                                                   | ams-OSRAM AG                                                                             | CUSIP: N/A<br>LEI: 5299001JPPT2QFTV5D76       | Long             | DBT              | CORP              | AT        |    950000 | PA      | $930491.52    | 0.03%             | 2025-07-31      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                                        | BPCE SA                                                                                  | CUSIP: 05583JAJ1<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   3640000 | PA      | $2714148.35   | 0.09%             | 2032-01-20      | Variable      | 2.28%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: 345397YW7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1330804.62   | 0.05%             | 2025-02-07      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Go Daddy Operating Co. LLC                                     | Go Daddy Operating Co. LLC                                                               | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2765000 | PA      | $2336642.36   | 0.08%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                        | Chesapeake Energy Corp.                                                                  | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     12580 | NS      | $1302030.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Summer BC Holdco B SARL                                        | Summer BC Holdco B SARL                                                                  | CUSIP: N/A<br>LEI: 984500NRF59D5DB9B654       | Long             | DBT              | CORP              | LU        |   1583000 | PA      | $1461721.34   | 0.05%             | 2026-10-31      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Sea Ltd.                                                       | Sea Ltd.                                                                                 | CUSIP: 81141RAF7<br>LEI: 529900OM6JLLW44YKI15 | Long             | DBT              | CORP              | KY        |   2370000 | PA      | $2408638.84   | 0.08%             | 2025-12-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2017-54                                                                     | CUSIP: 38379RSG9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2205204 | PA      | $85622.79     | 0.00%             | 2058-12-16      | Variable      | 0.68%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                               | Deutsche Bank AG                                                                         | CUSIP: 25160PAG2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   5480000 | PA      | $3912012.86   | 0.13%             | 2033-01-07      | Variable      | 3.74%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                               | Sabre GLBL, Inc.                                                                         | CUSIP: 78573NAF9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    357000 | PA      | $340042.50    | 0.01%             | 2025-09-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                         | Standard Chartered plc                                                                   | CUSIP: 853254BY5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   4189000 | PA      | $3913355.25   | 0.13%             | 2025-01-12      | Variable      | 0.99%                 | Yes           |                  2 | On Loan: No      |
| Telefonica Europe BV                                           | Telefonica Europe BV                                                                     | CUSIP: N/A<br>LEI: 7245007FZS0M65WUGP67       | Long             | DBT              | CORP              | NL        |   1700000 | PA      | $1758759.70   | 0.06%             | 2022-12-27      | Variable      | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                   | Scotts Miracle-Gro Co. (The)                                                             | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   2495000 | PA      | $1896200.00   | 0.06%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Serbia International Bond                                      | Republic of Serbia                                                                       | CUSIP: N/A<br>LEI: 254900W94OCY91V32O78       | Long             | DBT              | NUSS              | RS        |   4570000 | PA      | $3557145.44   | 0.12%             | 2029-06-26      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Bentley Systems, Inc.                                          | Bentley Systems, Inc.                                                                    | CUSIP: 08265TAB5<br>LEI: 549300WVEHPGE0Z56F71 | Long             | DBT              | CORP              | US        |   2506000 | PA      | $2315544.00   | 0.08%             | 2026-01-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                                | Palmer Square Loan Funding Ltd., Series 2021-4A, Class A1                                | CUSIP: 69702HAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2782327 | PA      | $2741580.24   | 0.09%             | 2029-10-15      | Floating      | 4.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4323, Class IW                                                      | CUSIP: 3137BAEC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     35869 | PA      | $748.74       | 0.00%             | 2028-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4030, Class IL                                                      | CUSIP: 3137APLG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     94421 | PA      | $4175.41      | 0.00%             | 2027-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Paraguay Government International Bond                         | Republic of Paraguay                                                                     | CUSIP: 699149AJ9<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |   4630000 | PA      | $4452902.50   | 0.15%             | 2031-04-28      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Ahead DB Holdings LLC                                          | Ahead DB Holdings LLC                                                                    | CUSIP: 00867FAA6<br>LEI: 254900L07WFL833JX193 | Long             | DBT              | CORP              | US        |    158000 | PA      | $129089.16    | 0.00%             | 2028-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2013-61, Class HI                                                    | CUSIP: 3136AETE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2410210 | PA      | $248303.68    | 0.01%             | 2033-06-25      | 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      | $9672.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Regency Centers LP                                             | Regency Centers LP                                                                       | CUSIP: 75884RAZ6<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              | CORP              | US        |   1185000 | PA      | $996806.86    | 0.03%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 3914, Class LS                                                      | CUSIP: 3137AEU52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    132164 | PA      | $2284.85      | 0.00%             | 2026-08-15      | Floating      | 2.93%                 | No            |                  2 | On Loan: No      |
| Republic of Senegal                                            | Republic of Senegal                                                                      | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |   6320000 | PA      | $4525910.00   | 0.15%             | 2048-03-13      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                                    | Service Corp. International                                                              | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    974000 | PA      | $810855.00    | 0.03%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA ACES, Series 2020-M39, Class X2                                                     | CUSIP: 3136BBTG7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10780301 | PA      | $722888.19    | 0.02%             | 2031-08-25      | Variable      | 1.66%                 | No            |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                       | Wynn Resorts Finance LLC                                                                 | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3069000 | PA      | $2667292.33   | 0.09%             | 2029-10-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| ILFC E-Capital Trust II                                        | ILFC E-Capital Trust II                                                                  | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | SN               | CORP              | US        |    535000 | PA      | $365137.50    | 0.01%             | 2065-12-21      | Floating      | 5.37%                 | Yes           |                  2 | On Loan: No      |
| Tempur Sealy International, Inc.                               | Tempur Sealy International, Inc.                                                         | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |    435000 | PA      | $337694.85    | 0.01%             | 2031-10-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Cemex SAB de CV                                                | Cemex SAB de CV                                                                          | CUSIP: 151290CA9<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |   5558000 | PA      | $4891040.00   | 0.17%             | 2026-06-08      | Variable      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Mallinckrodt International Finance SA                          | Mallinckrodt International Finance SA                                                    | CUSIP: 561233AK3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    283000 | PA      | $145037.50    | 0.00%             | 2029-06-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                           | Mitsubishi UFJ Financial Group, Inc.                                                     | CUSIP: 606822AH7<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   6259000 | PA      | $6118427.43   | 0.21%             | 2023-09-13      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| DISH Network Corp.                                             | DISH Network Corp.                                                                       | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1195000 | PA      | $1228256.85   | 0.04%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| Republic of Italy                                              | Italian Republic Government Bond                                                         | CUSIP: 465410BY3<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |  15840000 | PA      | $13075983.36  | 0.45%             | 2029-10-17      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Aetna, Inc.                                                    | Aetna, Inc.                                                                              | CUSIP: 00817YAV0<br>LEI: 549300QKBENKLBXQ8968 | Long             | DBT              | CORP              | US        |   6375000 | PA      | $6297808.25   | 0.22%             | 2023-06-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| N/A                                                            | U.S. Treasury 2 Year Note                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -188 | NC      | $-138272.83   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 5023, Class MI                                                      | CUSIP: 3137FWV80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  13249933 | PA      | $2361063.85   | 0.08%             | 2050-10-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Switch Ltd.                                                    | Switch Ltd.                                                                              | CUSIP: 87105NAA8<br>LEI: 5493002D70VTFFLT8L43 | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1396222.28   | 0.05%             | 2028-09-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Triton Water Holdings, Inc.                                    | Triton Water Holdings, Inc.                                                              | CUSIP: 89680EAA7<br>LEI: 5493005IYCEL7QJFZZ63 | Long             | DBT              | CORP              | US        |    466000 | PA      | $362680.81    | 0.01%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| OI European Group BV                                           | OI European Group BV                                                                     | CUSIP: N/A<br>LEI: 72450053F5WRDY8CDZ66       | Long             | DBT              | CORP              | NL        |   2000000 | PA      | $2026531.05   | 0.07%             | 2024-11-15      | Fixed         | 3.12%                 | 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      | $5205.10      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                      | HCA, Inc.                                                                                | CUSIP: 404119CB3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1470000 | PA      | $993488.64    | 0.03%             | 2051-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Banijay Group SAS                                              | Banijay Group SAS                                                                        | CUSIP: N/A<br>LEI: 969500TVFVKI682L1144       | Long             | DBT              | CORP              | FR        |   1500000 | PA      | $1486757.26   | 0.05%             | 2026-03-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SPIE SA                                                        | SPIE SA                                                                                  | CUSIP: N/A<br>LEI: 969500TJNS5GSFWJ8X85       | Long             | DBT              | CORP              | FR        |   3200000 | PA      | $3301282.71   | 0.11%             | 2024-03-22      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Centene Corp.                                                  | Centene Corp.                                                                            | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    857000 | PA      | $804277.36    | 0.03%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Eventbrite, Inc.                                               | Eventbrite, Inc.                                                                         | CUSIP: 29975EAD1<br>LEI: 549300N6XBV2B1FAUF55 | Long             | DBT              | CORP              | US        |   1897000 | PA      | $1331235.23   | 0.05%             | 2026-09-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                           | Republic of Colombia                                                                     | CUSIP: 195325DQ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   5688000 | PA      | $3825180.00   | 0.13%             | 2049-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                   | ING Groep NV                                                                             | CUSIP: 456837BC6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    480000 | PA      | $422905.91    | 0.01%             | 2033-03-28      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                                              | Transcanada Trust, Series 16-A                                                           | CUSIP: 89356BAB4<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |    988000 | PA      | $927351.20    | 0.03%             | 2076-08-15      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| MYT Holding Co.                                                | MYT Holding Co.                                                                          | CUSIP: 55406N103<br>LEI: 549300853MX08B1AUK51 | Long             | EC               | CORP              | US        |    246994 | NS      | $70887.28     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Guala Closures SpA                                             | Guala Closures SpA                                                                       | CUSIP: N/A<br>LEI: 81560014151D1C625F49       | Long             | DBT              | CORP              | IT        |   1416000 | PA      | $1271179.49   | 0.04%             | 2028-06-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                               | Goodyear Tire & Rubber Co. (The)                                                         | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   1728000 | PA      | $1503360.00   | 0.05%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CommScope Technologies LLC                                     | CommScope Technologies LLC                                                               | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |   1208000 | PA      | $1132077.20   | 0.04%             | 2025-06-15      | Fixed         | 6.00%                 | 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      | $40178.85     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CCUBS Commercial Mortgage Trust                                | CCUBS Commercial Mortgage Trust, Series 2017-C1, Class C                                 | CUSIP: 12508GAZ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    484000 | PA      | $412136.55    | 0.01%             | 2050-11-15      | Variable      | 4.58%                 | No            |                  3 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K072, Class X3          | CUSIP: 3137FEBT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  12354000 | PA      | $1083778.12   | 0.04%             | 2045-12-25      | Variable      | 2.21%                 | No            |                  2 | On Loan: No      |
| Harvest Commercial Capital Loan Trust                          | Harvest Commercial Capital Loan Trust, Series 2019-1, Class A                            | CUSIP: 41753CAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    239828 | PA      | $229976.73    | 0.01%             | 2046-09-25      | Variable      | 3.29%                 | Yes           |                  2 | On Loan: No      |
| Kirk Beauty SUN GmbH                                           | Kirk Beauty SUN GmbH                                                                     | CUSIP: N/A<br>LEI: 9845005056B369360745       | Long             | DBT              | CORP              | DE        |   1656655 | PA      | $1032625.21   | 0.04%             | 2026-10-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Paysafe Finance plc                                            | Paysafe Finance plc                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1210000 | PA      | $919690.82    | 0.03%             | 2029-06-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K117, Class X1          | CUSIP: 3137FX3T3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  42625273 | PA      | $3043811.09   | 0.10%             | 2030-08-25      | Variable      | 1.34%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc.                                                                          | CUSIP: 172967NE7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    375000 | PA      | $294668.42    | 0.01%             | 2032-11-03      | Variable      | 2.52%                 | No            |                  2 | On Loan: No      |
| NCR Corp.                                                      | NCR Corp.                                                                                | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    650000 | PA      | $559136.34    | 0.02%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CommScope, Inc.                                                | CommScope, Inc.                                                                          | CUSIP: 20338QAD5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   1470000 | PA      | $1422166.20   | 0.05%             | 2026-03-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Kite Realty Group LP                                           | Kite Realty Group LP                                                                     | CUSIP: 49803XAB9<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |   2431000 | PA      | $2335218.60   | 0.08%             | 2027-04-01      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Nobel Bidco BV                                                 | Nobel Bidco BV                                                                           | CUSIP: N/A<br>LEI: 549300NZZFLYK83VVT71       | Long             | DBT              | CORP              | NL        |   1559000 | PA      | $1084180.02   | 0.04%             | 2028-06-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Nationwide Building Society                                    | Nationwide Building Society                                                              | CUSIP: N/A<br>LEI: 549300XFX12G42QIKN82       | Long             | DBT              | CORP              | GB        |    298000 | PA      | $320554.32    | 0.01%             | 2027-06-20      | Variable      | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                   | Pacific Gas and Electric Co.                                                             | CUSIP: 694308JC2<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   4230000 | PA      | $3847589.90   | 0.13%             | 2028-08-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets plc                                         | BP Capital Markets plc                                                                   | CUSIP: N/A<br>LEI: 549300CRVT18MXX0AG93       | Long             | DBT              | CORP              | GB        |   5700000 | PA      | $5456906.44   | 0.19%             | 2026-03-22      | Variable      | 3.25%                 | Yes           |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                          | WMG Acquisition Corp.                                                                    | CUSIP: N/A<br>LEI: 549300NAS11NXI33CP80       | Long             | DBT              | CORP              | US        |    700000 | PA      | $648273.41    | 0.02%             | 2028-07-15      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| General Electric Co.                                           | General Electric Co.                                                                     | CUSIP: N/A<br>LEI: 3C7474T6CDKPR9K6YT90       | Long             | DBT              | CORP              | US        |   3800000 | PA      | $4106480.27   | 0.14%             | 2035-09-19      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Partners LP                                            | Buckeye Partners LP                                                                      | CUSIP: 118230AR2<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    435000 | PA      | $384559.58    | 0.01%             | 2027-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                            | CDI                                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |  30000000 | PA      | $-1351848.69  | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                         | Velocity Commercial Capital Loan Trust, Series 2020-1, Class AFX                         | CUSIP: 92259LAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2417582 | PA      | $2241278.25   | 0.08%             | 2050-02-25      | Variable      | 2.61%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   4055000 | PA      | $3014635.41   | 0.10%             | 2036-09-16      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                            | Rocket Mortgage LLC                                                                      | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    435000 | PA      | $370950.60    | 0.01%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                     | Occidental Petroleum Corp.                                                               | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    770000 | PA      | $803290.95    | 0.03%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Service Corp. International                                    | Service Corp. International                                                              | CUSIP: 817565CE2<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    325000 | PA      | $307835.13    | 0.01%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| IQVIA, Inc.                                                    | IQVIA, Inc.                                                                              | CUSIP: N/A<br>LEI: 549300PLWY28YB00C717       | Long             | DBT              | CORP              | US        |    480000 | PA      | $425813.52    | 0.01%             | 2029-03-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Embarq Corp.                                                   | Embarq Corp.                                                                             | CUSIP: 29078EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    315000 | PA      | $133821.45    | 0.00%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WP Carey, Inc.                                                 | WP Carey, Inc.                                                                           | CUSIP: 92936UAH2<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2069511.00   | 0.07%             | 2033-04-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Iceland Bondco plc                                             | Iceland Bondco plc                                                                       | CUSIP: N/A<br>LEI: 2138002DRBYIA8QXHO36       | Long             | DBT              | CORP              | GB        |    175000 | PA      | $174535.27    | 0.01%             | 2025-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Pike Corp.                                                     | Pike Corp., Delayed Draw Term Loan B                                                     | CUSIP: 72108PAR5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | LON              | CORP              | US        |    517810 | PA      | $507210.27    | 0.02%             | 2028-01-21      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Leviathan Bond Ltd.                                            | Leviathan Bond Ltd.                                                                      | CUSIP: N/A<br>LEI: 254900D9T8VKYVQNZ220       | Long             | DBT              | CORP              | IL        |   1390000 | PA      | $1307295.00   | 0.04%             | 2030-06-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Danaher Corp.                                                  | Danaher Corp.                                                                            | CUSIP: 235851AW2<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | DBT              | CORP              | US        |   4050000 | PA      | $2788889.17   | 0.10%             | 2051-12-10      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| FirstKey Homes Trust                                           | FirstKey Homes Trust, Series 2020-SFR2, Class F2                                         | CUSIP: 33767JAN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1725426.00   | 0.06%             | 2037-10-19      | Fixed         | 3.12%                 | Yes           |                  3 | On Loan: No      |
| Oman Government International Bond                             | Sultanate of Oman Government Bond                                                        | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |   3450000 | PA      | $3161062.50   | 0.11%             | 2048-01-17      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC                         | Ardagh Metal Packaging Finance USA LLC                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    727000 | PA      | $563604.57    | 0.02%             | 2029-09-01      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                          | Albertsons Cos., Inc.                                                                    | CUSIP: 013092AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102386.00    | 0.00%             | 2026-03-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                          | Wells Fargo Commercial Mortgage Trust, Series 2016-C35, Class C                          | CUSIP: 95000FAZ9<br>LEI: 549300MZIB10PDVAE312 | Long             | ABS-MBS          | CORP              | US        |    386000 | PA      | $314052.96    | 0.01%             | 2048-07-15      | Variable      | 4.18%                 | No            |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                             | Cinemark USA, Inc.                                                                       | CUSIP: 172441BC0<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    540000 | PA      | $550813.50    | 0.02%             | 2025-05-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| American Medical Systems Europe BV                             | American Medical Systems Europe BV                                                       | CUSIP: N/A<br>LEI: 549300AA2JE6ZQ5D2493       | Long             | DBT              | CORP              | NL        |    200000 | PA      | $181314.56    | 0.01%             | 2031-03-08      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Emera, Inc.                                                    | Emera, Inc., Series 16-A                                                                 | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |   1903000 | PA      | $1800713.75   | 0.06%             | 2076-06-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                               | Altice France SA                                                                         | CUSIP: N/A<br>LEI: 5493001ZMCICV4N02J21       | Long             | DBT              | CORP              | FR        |   1550000 | PA      | $1451701.53   | 0.05%             | 2027-02-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                            | Intesa Sanpaolo SpA                                                                      | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | DBT              | CORP              | IT        |   5009000 | PA      | $5199334.53   | 0.18%             | 2027-01-11      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Renault SA                                                     | Renault SA                                                                               | CUSIP: N/A<br>LEI: 969500F7JLTX36OUI695       | Long             | DBT              | CORP              | FR        |   1700000 | PA      | $1565405.81   | 0.05%             | 2026-09-28      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP                                              | Genesis Energy LP                                                                        | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    544000 | PA      | $519193.60    | 0.02%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                    | Amgen, Inc.                                                                              | CUSIP: 031162CU2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    860000 | PA      | $734086.10    | 0.03%             | 2030-02-21      | 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      | $193362.50    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                 | Community Health Systems, Inc.                                                           | CUSIP: 12543DBC3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1877000 | PA      | $1732264.53   | 0.06%             | 2026-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                             | Renaissance Home Equity Loan Trust, Series 2005-2, Class M1                              | CUSIP: 75970NAP2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    604760 | PA      | $520035.08    | 0.02%             | 2035-08-25      | Variable      | 5.05%                 | No            |                  3 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4983, Class SY                                                      | CUSIP: 3137FTHL4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6437717 | PA      | $738055.92    | 0.03%             | 2050-05-25      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K078, Class X3          | CUSIP: 3137FGR64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10990000 | PA      | $1084418.47   | 0.04%             | 2046-06-25      | Variable      | 2.29%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                         | Freeport-McMoRan, Inc.                                                                   | CUSIP: 35671DCG8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    373000 | PA      | $342625.01    | 0.01%             | 2028-08-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Telecom Italia SpA                                             | Telecom Italia SpA                                                                       | CUSIP: N/A<br>LEI: 549300W384M3RI3VXU42       | Long             | DBT              | CORP              | IT        |   4350000 | PA      | $4153164.71   | 0.14%             | 2026-05-25      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| America Movil SAB de CV                                        | America Movil SAB de CV                                                                  | CUSIP: 02364WBJ3<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |   2500000 | PA      | $2150468.75   | 0.07%             | 2030-05-07      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                                            | DT Auto Owner Trust, Series 2020-2A, Class D                                             | CUSIP: 23343RAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | PA      | $641068.55    | 0.02%             | 2026-03-16      | Fixed         | 4.73%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                               | NRG Energy, Inc.                                                                         | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191500.00    | 0.01%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Huarong Finance 2019 Co. Ltd.                                  | Huarong Finance 2019 Co. Ltd.                                                            | CUSIP: N/A<br>LEI: 549300M6T6OW4AGYHK10       | Long             | DBT              | CORP              | VG        |   1880000 | PA      | $1872950.00   | 0.06%             | 2023-02-24      | Floating      | 5.82%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                | Live Nation Entertainment, Inc.                                                          | CUSIP: 538034AQ2<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   3255000 | PA      | $3629325.00   | 0.12%             | 2023-03-15      | 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      | $-65385.66    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                                         | Encompass Health Corp.                                                                   | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    300000 | PA      | $266250.00    | 0.01%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                              | Lowe's Cos., Inc.                                                                        | CUSIP: 548661EJ2<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   2908000 | PA      | $2373671.31   | 0.08%             | 2052-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Amur Equipment Finance Receivables XI LLC                      | Amur Equipment Finance Receivables XI LLC, Series 2022-2A, Class A2                      | CUSIP: 03236XAB3<br>LEI: 549300IFG1NMINYRYF89 | Long             | ABS-O            | CORP              | US        |   2403000 | PA      | $2374896.67   | 0.08%             | 2028-06-21      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Partners LP                                            | Buckeye Partners LP                                                                      | CUSIP: 118230AU5<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    140000 | PA      | $124250.00    | 0.00%             | 2028-03-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Lufthansa AG                                          | Deutsche Lufthansa AG                                                                    | CUSIP: N/A<br>LEI: 529900PH63HYJ86ASW55       | Long             | DBT              | CORP              | DE        |   4000000 | PA      | $3782755.85   | 0.13%             | 2026-05-29      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Viavi Solutions, Inc.                                          | Viavi Solutions, Inc.                                                                    | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |    222000 | PA      | $183150.00    | 0.01%             | 2029-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                       | Cooperatieve Rabobank UA                                                                 | CUSIP: 74977RDJ0<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   3965000 | PA      | $3493065.32   | 0.12%             | 2026-09-24      | Variable      | 1.00%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                     | AerCap Ireland Capital DAC                                                               | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1370000 | PA      | $1204634.70   | 0.04%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                       | Bristol-Myers Squibb Co.                                                                 | CUSIP: 110122DU9<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1323783.24   | 0.05%             | 2032-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                           | Clear Channel Outdoor Holdings, Inc.                                                     | CUSIP: 18453H106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70593 | NS      | $79770.09     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp.                                           | American Tower Corp.                                                                     | CUSIP: 03027XBR0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   2970000 | PA      | $2584271.28   | 0.09%             | 2026-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                            | Exeter Automobile Receivables Trust, Series 2018-3A, Class E                             | CUSIP: 30166PAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $897851.34    | 0.03%             | 2024-08-15      | Fixed         | 5.43%                 | Yes           |                  2 | On Loan: No      |
| Marriott International, Inc.                                   | Marriott International, Inc., Series FF                                                  | CUSIP: 571903BE2<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    675000 | PA      | $633874.77    | 0.02%             | 2030-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                             | Arches Buyer, Inc.                                                                       | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |   2175000 | PA      | $1747808.25   | 0.06%             | 2028-12-01      | Fixed         | 6.12%                 | 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      | $-207665.40   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GHX0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3282000 | PA      | $2800743.50   | 0.10%             | 2030-10-22      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| CD&R Smokey Buyer, Inc.                                        | CD&R Smokey Buyer, Inc.                                                                  | CUSIP: 12510CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2875000 | PA      | $2547968.75   | 0.09%             | 2025-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                             | T-Mobile USA, Inc.                                                                       | CUSIP: 87264AAV7<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1360907.24   | 0.05%             | 2028-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Greenko Dutch BV                                               | Greenko Dutch BV                                                                         | CUSIP: 39530LAD2<br>LEI: 724500PT585P4JPVRP08 | Long             | DBT              | CORP              | NL        |   2084765 | PA      | $1779868.12   | 0.06%             | 2026-03-29      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                 | Community Health Systems, Inc.                                                           | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    295000 | PA      | $224967.00    | 0.01%             | 2030-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse Group AG                                         | Credit Suisse Group AG                                                                   | CUSIP: 225401AF5<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   1585000 | PA      | $1265988.65   | 0.04%             | 2029-01-12      | Variable      | 3.87%                 | 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      | $2546.43      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                   | Scotts Miracle-Gro Co. (The)                                                             | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   1772000 | PA      | $1448610.00   | 0.05%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fomento Economico Mexicano SAB de CV                           | Fomento Economico Mexicano SAB de CV                                                     | CUSIP: 344419AC0<br>LEI: 549300A8MDWDJNMLV153 | Long             | DBT              | CORP              | MX        |   2490000 | PA      | $1767900.00   | 0.06%             | 2050-01-16      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Entegris Escrow Corp.                                          | Entegris Escrow Corp.                                                                    | CUSIP: 29365BAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1868098.14   | 0.06%             | 2030-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                       | Spirit AeroSystems, Inc.                                                                 | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    460000 | PA      | $484150.00    | 0.02%             | 2029-11-30      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                         | Tenet Healthcare Corp.                                                                   | CUSIP: 88033GDL1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    420000 | PA      | $364425.60    | 0.01%             | 2029-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GVR2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1815000 | PA      | $1779561.80   | 0.06%             | 2025-10-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                             | Credit Agricole SA                                                                       | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $936540.01    | 0.03%             | 2027-12-23      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | OIS                                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        | 259037799 | PA      | $-1475308.38  | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Vail Resorts, Inc.                                             | Vail Resorts, Inc.                                                                       | CUSIP: 91879QAN9<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   2210000 | PA      | $2063587.50   | 0.07%             | 2026-01-01      | None          | 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        |   1200000 | PA      | $1029106.15   | 0.04%             | 2032-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| P -stlb                                                        | P -stlb                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |   3800000 | PA      | $3667000.00   | 0.13%             | 2026-10-11      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| Orange SA                                                      | Orange SA                                                                                | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $920931.01    | 0.03%             | 2026-12-19      | Variable      | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Range Resources Corp.                                          | Range Resources Corp.                                                                    | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |     75000 | PA      | $67310.25     | 0.00%             | 2030-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                            | Graphic Packaging International LLC                                                      | CUSIP: 38869AAB3<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    573000 | PA      | $498124.26    | 0.02%             | 2028-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| EDP Finance BV                                                 | EDP Finance BV                                                                           | CUSIP: 26835PAF7<br>LEI: 5299007L43AQDFOW5739 | Long             | DBT              | CORP              | NL        |   9520000 | PA      | $9204819.93   | 0.31%             | 2024-07-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Indonesia Asahan Aluminium Persero PT                          | Indonesia Asahan Aluminium Persero PT                                                    | CUSIP: 74445PAF9<br>LEI: 2549008P48EB9SN2OI80 | Long             | DBT              | NUSS              | ID        |   2380000 | PA      | $2229465.00   | 0.08%             | 2030-05-15      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Republic of Italy                                              | Italian Republic Government Bond                                                         | CUSIP: 465410BX5<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |  20243000 | PA      | $18965727.02  | 0.65%             | 2024-10-17      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Caesars Resort Collection LLC                                  | Caesars Resort Collection LLC, 1st Lien Term Loan B                                      | CUSIP: 12769LAB5<br>LEI: 549300V3UCT773B1KR38 | Long             | LON              | CORP              | US        |   4546562 | PA      | $4512053.61   | 0.15%             | 2024-12-23      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                            | Medline Borrower LP                                                                      | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    440000 | PA      | $378294.40    | 0.01%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                               | CCO Holdings LLC                                                                         | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2422000 | PA      | $1966179.60   | 0.07%             | 2031-02-01      | 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      | $-667850.61   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                                       | SBA Communications Corp.                                                                 | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1107890.93   | 0.04%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Intelsat SA                                                    | Intelsat SA                                                                              | CUSIP: N/A<br>LEI: 549300YV2L21F4K80V46       | Long             | EC               | CORP              | LU        |     35343 | NS      | $901246.50    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2015-85, Class SA                                                    | CUSIP: 3136AQRN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3015986 | PA      | $274253.28    | 0.01%             | 2045-11-25      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| Federal Democratic Republic of Ethiopia                        | Federal Democratic Republic of Ethiopia                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | ET        |   2239000 | PA      | $1369008.56   | 0.05%             | 2024-12-11      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Endo Luxembourg Finance Co. I Sarl                             | Endo Luxembourg Finance Co. I Sarl                                                       | CUSIP: 29280BAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   2955000 | PA      | $2212792.65   | 0.08%             | 2029-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                          | Albertsons Cos., Inc.                                                                    | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425000 | PA      | $379202.00    | 0.01%             | 2030-02-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Crestwood Midstream Partners LP                                | Crestwood Midstream Partners LP                                                          | CUSIP: 226373AQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $94096.83     | 0.00%             | 2027-05-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                   | Verizon Communications, Inc.                                                             | CUSIP: 92343VGN8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1444913.69   | 0.05%             | 2032-03-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Abertis Infraestructuras Finance BV                            | Abertis Infraestructuras Finance BV                                                      | CUSIP: N/A<br>LEI: 5493007WHKI5H75YJ358       | Long             | DBT              | CORP              | NL        |   1800000 | PA      | $1631995.89   | 0.06%             | 2025-11-24      | Variable      | 3.25%                 | Yes           |                  2 | On Loan: No      |
| ZoomInfo Technologies LLC                                      | ZoomInfo Technologies LLC                                                                | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1110000 | PA      | $937583.70    | 0.03%             | 2029-02-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| International Game Technology plc                              | International Game Technology plc                                                        | CUSIP: N/A<br>LEI: 549300UQ6KHRCZDRGZ76       | Long             | DBT              | CORP              | GB        |    100000 | PA      | $103412.12    | 0.00%             | 2024-07-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | CDI                                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        | 190260000 | PA      | $-14001563.33 | -0.48%            |  |  |  | No            |                  2 | On Loan: No      |
| Coty, Inc.                                                     | Coty, Inc.                                                                               | CUSIP: N/A<br>LEI: 549300BO9IWPF3S48F93       | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1368235.00   | 0.05%             | 2026-04-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4305, Class SK                                                      | CUSIP: 3137B8A72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3607189 | PA      | $430131.68    | 0.01%             | 2044-02-15      | Floating      | 2.73%                 | 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      | $28207.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chord Energy Corp.                                             | Chord Energy Corp.                                                                       | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |      4028 | NS      | $614390.84    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Energean Israel Finance Ltd.                                   | Energean Israel Finance Ltd.                                                             | CUSIP: N/A<br>LEI: 98450044QACBL3F8EB03       | Long             | DBT              | CORP              | IL        |   2204826 | PA      | $2017415.79   | 0.07%             | 2028-03-30      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| INEOS Quattro Finance 1 plc                                    | INEOS Quattro Finance 1 plc                                                              | CUSIP: N/A<br>LEI: 213800QO23X11QXPVT49       | Long             | DBT              | CORP              | GB        |   1967000 | PA      | $1739831.18   | 0.06%             | 2026-07-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                          | Alexandria Real Estate Equities, Inc.                                                    | CUSIP: 015271AV1<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |    890000 | PA      | $661848.98    | 0.02%             | 2033-02-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Altice France Holding SA                                       | Altice France Holding SA                                                                 | CUSIP: N/A<br>LEI: 5299000JVHXKJPOE6H40       | Long             | DBT              | CORP              | LU        |    400000 | PA      | $279488.51    | 0.01%             | 2028-02-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Gray Television, Inc.                                          | Gray Television, Inc.                                                                    | CUSIP: 389375AJ5<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    400000 | PA      | $368450.00    | 0.01%             | 2026-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                | TransDigm, Inc.                                                                          | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    488000 | PA      | $485628.32    | 0.02%             | 2026-03-15      | Fixed         | 6.25%                 | 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      | $-782978.66   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                   | Avolon Holdings Funding Ltd.                                                             | CUSIP: 05401AAM3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    810000 | PA      | $693313.94    | 0.02%             | 2026-02-21      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                         | Velocity Commercial Capital Loan Trust, Series 2018-2, Class A                           | CUSIP: 92259BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1436306 | PA      | $1371311.54   | 0.05%             | 2048-10-26      | Variable      | 4.05%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K153, Class X3          | CUSIP: 3137BXHE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5560000 | PA      | $1337384.61   | 0.05%             | 2035-04-25      | Variable      | 3.91%                 | No            |                  2 | On Loan: No      |
| United States of America                                       | U.S. Treasury Bonds                                                                      | CUSIP: 912810SZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     20000 | PA      | $13592.19     | 0.00%             | 2051-08-15      | 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      | $-13488.91    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Greenko Power II Ltd.                                          | Greenko Power II Ltd.                                                                    | CUSIP: 39530MAA6<br>LEI: 254900YYA4B6O2O4JM12 | Long             | DBT              | CORP              | MU        |   5367452 | PA      | $4587561.65   | 0.16%             | 2028-12-13      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GZT4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4905000 | PA      | $4733346.19   | 0.16%             | 2027-06-15      | Variable      | 4.39%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc.                                                                          | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   8987000 | PA      | $7498528.13   | 0.26%             | 2026-02-18      | Variable      | 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      | $107254.83    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Verisure Holding AB                                            | Verisure Holding AB                                                                      | CUSIP: N/A<br>LEI: 549300VQQCWGISM3N408       | Long             | DBT              | CORP              | SE        |   2100000 | PA      | $1889747.31   | 0.06%             | 2027-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Gartner, Inc.                                                  | Gartner, Inc.                                                                            | CUSIP: 366651AG2<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |   1620000 | PA      | $1418935.64   | 0.05%             | 2029-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Madison IAQ LLC                                                | Madison IAQ LLC, 1st Lien Term Loan                                                      | CUSIP: 55759VAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    619653 | PA      | $587511.58    | 0.02%             | 2028-06-21      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| BANK                                                           | BANK, Series 2018-BN13, Class C                                                          | CUSIP: 06539LBG4<br>LEI: 549300664283JRAXM588 | Long             | ABS-MBS          | CORP              | US        |   1703000 | PA      | $1434346.98   | 0.05%             | 2061-08-15      | Variable      | 4.73%                 | No            |                  3 | On Loan: No      |
| Electricite de France SA                                       | Electricite de France SA                                                                 | CUSIP: N/A<br>LEI: 549300X3UK4GG3FNMO06       | Long             | DBT              | NUSS              | FR        |    800000 | PA      | $625300.71    | 0.02%             | 2030-06-15      | Variable      | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                                 | Carnival Corp.                                                                           | CUSIP: N/A<br>LEI: F1OF2ZSX47CR0BCWA982       | Long             | DBT              | CORP              | PA        |   1421000 | PA      | $1493124.65   | 0.05%             | 2026-02-01      | Fixed         | 10.12%                | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                     | AerCap Ireland Capital DAC                                                               | CUSIP: 00774MAF2<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   4495000 | PA      | $4454608.69   | 0.15%             | 2023-07-03      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                 | Community Health Systems, Inc.                                                           | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    765000 | PA      | $390150.00    | 0.01%             | 2030-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                         | Cleveland-Cliffs, Inc.                                                                   | CUSIP: 185899AK7<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   1753000 | PA      | $1533875.00   | 0.05%             | 2029-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Enel Finance International NV                                  | Enel Finance International NV                                                            | CUSIP: 29278GAP3<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   1130000 | PA      | $842577.38    | 0.03%             | 2031-07-12      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4689, Class SD                                                      | CUSIP: 3137F1DW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5777060 | PA      | $752757.26    | 0.03%             | 2047-06-15      | Floating      | 2.28%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K-1511, Class X3        | CUSIP: 3137FLYM0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7620000 | PA      | $1934640.28   | 0.07%             | 2034-04-25      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| OCI NV                                                         | OCI NV                                                                                   | CUSIP: N/A<br>LEI: 549300NCMRGIBJYUOE57       | Long             | DBT              | CORP              | NL        |    990000 | PA      | $1022127.59   | 0.03%             | 2025-10-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 61747YEN1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2780000 | PA      | $2732557.38   | 0.09%             | 2026-02-18      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Element Solutions, Inc.                                        | Element Solutions, Inc.                                                                  | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1132424.50   | 0.04%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Conair Holdings LLC                                            | Conair Holdings LLC, 1st Lien Term Loan B                                                | CUSIP: 20600RAB8<br>LEI: 549300804G00T34FLV17 | Long             | LON              | CORP              | US        |   3814616 | PA      | $3199509.06   | 0.11%             | 2028-05-17      | Variable      | 7.42%                 | 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      | $159659.47    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Antolin-Irausa SA                                        | Grupo Antolin-Irausa SA                                                                  | CUSIP: N/A<br>LEI: 213800OILC5Q9AR63B63       | Long             | DBT              | CORP              | ES        |    500000 | PA      | $427556.53    | 0.01%             | 2026-04-30      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2013-66, Class IE                                                    | CUSIP: 3136AFUX0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2605446 | PA      | $111214.23    | 0.00%             | 2032-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                              | HSBC Holdings plc                                                                        | CUSIP: 404280CL1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   8500000 | PA      | $7054046.81   | 0.24%             | 2028-09-22      | Variable      | 2.01%                 | No            |                  2 | On Loan: No      |
| Republic of Paraguay                                           | Republic of Paraguay                                                                     | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |    990000 | PA      | $853875.00    | 0.03%             | 2048-03-13      | Fixed         | 5.60%                 | Yes           |                  2 | On Loan: No      |
| UGI International LLC                                          | UGI International LLC                                                                    | CUSIP: N/A<br>LEI: 5493001JFF8MQO00ZQ21       | Long             | DBT              | CORP              | US        |   1985000 | PA      | $1551610.00   | 0.05%             | 2029-12-01      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CommScope Technologies LLC                                     | CommScope Technologies LLC                                                               | CUSIP: 20338HAB9<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    392000 | PA      | $299025.44    | 0.01%             | 2027-03-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse Group AG                                         | Credit Suisse Group AG                                                                   | CUSIP: 225401AP3<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   1853000 | PA      | $1404780.00   | 0.05%             | 2031-04-01      | Variable      | 4.19%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2016-119                                                                    | CUSIP: 38379UM37<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4509704 | PA      | $137497.73    | 0.00%             | 2058-04-16      | Variable      | 0.77%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                           | Charter Communications Operating LLC                                                     | CUSIP: 161175BV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4637000 | PA      | $2961870.40   | 0.10%             | 2051-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Everbridge, Inc.                                               | Everbridge, Inc.                                                                         | CUSIP: 29978AAE4<br>LEI: 549300WCY0UMR64ATW81 | Long             | DBT              | CORP              | US        |   4874000 | PA      | $4162584.82   | 0.14%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                | Republic Finance Issuance Trust, Series 2020-A, Class A                                  | CUSIP: 76042EAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1253000 | PA      | $1180857.77   | 0.04%             | 2030-11-20      | Fixed         | 2.47%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: N/A<br>LEI: UDSQCVRUX5BONN0VY111       | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2545619.80   | 0.09%             | 2024-03-06      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| Standard Chartered plc                                         | Standard Chartered plc                                                                   | CUSIP: 853254BS8<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   1619000 | PA      | $1445556.27   | 0.05%             | 2031-04-01      | Variable      | 4.64%                 | Yes           |                  2 | On Loan: No      |
| CVS Health Corp.                                               | CVS Health Corp.                                                                         | CUSIP: 126650DK3<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1205000 | PA      | $1015825.56   | 0.03%             | 2040-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                                     | PG&E Corp.                                                                               | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    410000 | PA      | $371248.85    | 0.01%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Seagate HDD Cayman                                             | Seagate HDD Cayman                                                                       | CUSIP: 81180WBC4<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    894000 | PA      | $739785.00    | 0.03%             | 2029-06-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Monitchem HoldCo 3 SA                                          | Monitchem HoldCo 3 SA                                                                    | CUSIP: N/A<br>LEI: 222100SJHJ1CNJMSW162       | Long             | DBT              | CORP              | LU        |   1188000 | PA      | $1177511.75   | 0.04%             | 2025-03-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BAMLL Re-REMIC Trust                                           | BAMLL Re-REMIC Trust, Series 2013-FRR3, Class A                                          | CUSIP: 05525FAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4375000 | PA      | $4152649.38   | 0.14%             | 2023-06-26      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PNMAC GMSR Issuer Trust                                        | PNMAC GMSR Issuer Trust, Series 2018-GT2, Class A                                        | CUSIP: 69354WAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3690000 | PA      | $3521771.42   | 0.12%             | 2025-08-25      | Floating      | 6.69%                 | Yes           |                  2 | On Loan: No      |
| Gray Oak Pipeline LLC                                          | Gray Oak Pipeline LLC                                                                    | CUSIP: 38937LAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    810000 | PA      | $734870.93    | 0.03%             | 2025-10-15      | Fixed         | 2.60%                 | Yes           |                  2 | On Loan: No      |
| Trinseo Materials Operating SCA                                | Trinseo Materials Operating SCA                                                          | CUSIP: 89668QAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    730000 | PA      | $464462.50    | 0.02%             | 2029-04-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Chamberlain Group LLC (The)                                    | Chamberlain Group LLC (The), 1st Lien Term Loan B                                        | CUSIP: 15963CAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1004678 | PA      | $939062.16    | 0.03%             | 2028-11-03      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                           | Prime Security Services Borrower LLC                                                     | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $742500.00    | 0.03%             | 2026-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                         | Mauser Packaging Solutions Holding Co.                                                   | CUSIP: 12429TAE4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    485000 | PA      | $442562.50    | 0.02%             | 2025-04-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| LCM XVI LP                                                     | LCM LP, Series 16A, Class A2R                                                            | CUSIP: 50181GBE9<br>LEI: 549300RB1XGNK3FHRH35 | Long             | ABS-CBDO         | CORP              | KY        |   1860000 | PA      | $1831990.26   | 0.06%             | 2031-10-15      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| INEOS Finance plc                                              | INEOS Finance plc                                                                        | CUSIP: N/A<br>LEI: 2138002D68XDR4LZCG32       | Long             | DBT              | CORP              | GB        |   1197000 | PA      | $1128718.75   | 0.04%             | 2026-03-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Southern California Edison Co.                                 | Southern California Edison Co., Series 13-A                                              | CUSIP: 842400FW8<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    564000 | PA      | $431818.15    | 0.01%             | 2043-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                            | Intesa Sanpaolo SpA                                                                      | CUSIP: 46115HBQ9<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    670000 | PA      | $494169.02    | 0.02%             | 2032-06-01      | Variable      | 4.20%                 | Yes           |                  2 | On Loan: No      |
| Marlette Funding Trust                                         | Marlette Funding Trust, Series 2022-3A, Class A                                          | CUSIP: 57109NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2641400 | PA      | $2612104.21   | 0.09%             | 2032-11-15      | Fixed         | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                   | Antero Midstream Partners LP                                                             | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $859417.55    | 0.03%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| HIN Timeshare Trust                                            | HIN Timeshare Trust, Series 2020-A, Class D                                              | CUSIP: 40439HAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2279452 | PA      | $2097171.72   | 0.07%             | 2039-10-09      | Fixed         | 5.50%                 | Yes           |                  3 | On Loan: No      |
| Enterprise Products Operating LLC                              | Enterprise Products Operating LLC                                                        | CUSIP: 29379VCA9<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   3920000 | PA      | $2650788.83   | 0.09%             | 2052-02-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Pactiv Evergreen Group Holdings, Inc.                          | Pactiv Evergreen Group Holdings, Inc., 1st Lien Term Loan B                              | CUSIP: 76173FAY3<br>LEI: 5493002QNV81KCX40V06 | Long             | LON              | CORP              | US        |   1757250 | PA      | $1729520.60   | 0.06%             | 2028-09-24      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| Telefonica Europe BV                                           | Telefonica Europe BV, Series NC5                                                         | CUSIP: N/A<br>LEI: 7245007FZS0M65WUGP67       | Long             | DBT              | CORP              | NL        |   1600000 | PA      | $1623669.00   | 0.06%             | 2023-09-04      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Lamb Weston Holdings, Inc.                                     | Lamb Weston Holdings, Inc.                                                               | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    670000 | PA      | $592534.60    | 0.02%             | 2030-01-31      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Brass NO 8 plc                                                 | Brass NO 8 plc, Series 8A, Class A1                                                      | CUSIP: 10554MAA8<br>LEI: 2138001JRCRN7WGSM347 | Long             | ABS-MBS          | CORP              | GB        |    440296 | PA      | $440168.32    | 0.02%             | 2066-11-16      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia Finance SA                                      | Telecom Italia Finance SA                                                                | CUSIP: N/A<br>LEI: 549300O482B6CBF38D50       | Long             | DBT              | CORP              | LU        |   1300000 | PA      | $1426923.18   | 0.05%             | 2033-01-24      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Burlington Northern Santa Fe LLC                               | Burlington Northern Santa Fe LLC                                                         | CUSIP: 12189LBJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1308849.30   | 0.04%             | 2053-01-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| UAE International Government Bond                              | UAE International Government Bond                                                        | CUSIP: 31424EAE2<br>LEI: N/A                  | Long             | DBT              | NUSS              | AE        |   3433000 | PA      | $3390087.50   | 0.12%             | 2052-07-07      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                              | GLS Auto Receivables Issuer Trust, Series 2022-3A, Class D                               | CUSIP: 38014QAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    510000 | PA      | $484460.02    | 0.02%             | 2028-06-15      | Fixed         | 6.42%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                         | Standard Chartered plc                                                                   | CUSIP: 853254CJ7<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   4300000 | PA      | $4071700.36   | 0.14%             | 2026-03-30      | Variable      | 3.97%                 | Yes           |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                            | Starwood Mortgage Residential Trust, Series 2020-1, Class A1                             | CUSIP: 85573AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    153123 | PA      | $146513.47    | 0.01%             | 2050-02-25      | Variable      | 2.27%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                                  | Novelis Corp.                                                                            | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    615000 | PA      | $546795.44    | 0.02%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                     | Warnermedia Holdings, Inc.                                                               | CUSIP: 55903VAN3<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1765000 | PA      | $1412967.61   | 0.05%             | 2042-03-15      | Fixed         | 5.05%                 | 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      | $-2926443.81  | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| L3Harris Technologies, Inc.                                    | L3Harris Technologies, Inc.                                                              | CUSIP: 413875AS4<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   2510000 | PA      | $2378923.93   | 0.08%             | 2035-04-27      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2014-14, Class SA                                                    | CUSIP: 3136AJQJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4725293 | PA      | $492736.12    | 0.02%             | 2044-04-25      | Floating      | 1.93%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                            | Newell Brands, Inc.                                                                      | CUSIP: 651229AW6<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   1580000 | PA      | $1490508.80   | 0.05%             | 2026-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                  | UBS Commercial Mortgage Trust, Series 2017-C7, Class B                                   | CUSIP: 90276WAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1795000 | PA      | $1601836.82   | 0.05%             | 2050-12-15      | Variable      | 4.29%                 | No            |                  3 | On Loan: No      |
| Snap, Inc.                                                     | Snap, Inc.                                                                               | CUSIP: 83304AAF3<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    633000 | PA      | $441517.50    | 0.02%             | 2027-05-01      | 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      | $1071774.26   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Dominican Republic                                             | Dominican Republic Government Bond                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |   1680000 | PA      | $1461390.00   | 0.05%             | 2045-01-27      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Jazz Securities DAC                                            | Jazz Securities DAC                                                                      | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    915000 | PA      | $830380.80    | 0.03%             | 2029-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Claire's Stores, Inc.                                          | Claire's Stores, Inc.                                                                    | CUSIP: N/A<br>LEI: 549300N5HNYXI6JY7625       | Long             | EC               | CORP              | US        |      1259 | NS      | $409175.00    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Alexander Funding Trust                                        | Alexander Funding Trust                                                                  | CUSIP: 014621AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $942881.96    | 0.03%             | 2023-11-15      | Fixed         | 1.84%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2019-115, Class SD                                                          | CUSIP: 38381YUA0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1026755 | PA      | $102981.81    | 0.00%             | 2049-09-20      | Floating      | 2.16%                 | No            |                  2 | On Loan: No      |
| Adler Pelzer Holding GmbH                                      | Adler Pelzer Holding GmbH                                                                | CUSIP: N/A<br>LEI: 984500950ABB2CB7E742       | Long             | DBT              | CORP              | DE        |    300000 | PA      | $262183.75    | 0.01%             | 2024-04-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Goodgreen Trust                                                | Goodgreen Trust, Series 2017-R1                                                          | CUSIP: 38218AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1193498 | PA      | $1103985.65   | 0.04%             | 2051-10-20      | Fixed         | 5.00%                 | No            |                  3 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K104, Class X1          | CUSIP: 3137FREK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  25617673 | PA      | $1577666.93   | 0.05%             | 2030-01-25      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                        | MPLX LP                                                                                  | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1246000 | PA      | $1022500.67   | 0.03%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| UPC Holding BV                                                 | UPC Holding BV                                                                           | CUSIP: 90320LAG2<br>LEI: 213800G1DU7LKI6ZCD69 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $178000.00    | 0.01%             | 2028-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| EDP - Energias de Portugal SA                                  | EDP - Energias de Portugal SA                                                            | CUSIP: N/A<br>LEI: 529900CLC3WDMGI9VH80       | Long             | DBT              | CORP              | PT        |   3900000 | PA      | $3640233.61   | 0.12%             | 2080-07-20      | Variable      | 1.70%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 3459, Class JS                                                      | CUSIP: 31397TTP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    163829 | PA      | $14020.34     | 0.00%             | 2038-06-15      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2017-KF31, Class B                                          | CUSIP: 302951AG3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    684553 | PA      | $680419.77    | 0.02%             | 2024-04-25      | Floating      | 6.70%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                                        | BPCE SA                                                                                  | CUSIP: 05578QAF0<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   1765000 | PA      | $1289308.85   | 0.04%             | 2032-10-19      | Variable      | 3.12%                 | 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      | $3495.48      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Discovery Communications LLC                                   | Discovery Communications LLC                                                             | CUSIP: 25470DBH1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |   1620000 | PA      | $1169530.73   | 0.04%             | 2050-05-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                  | Comcast Corp.                                                                            | CUSIP: 20030NDL2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   3899000 | PA      | $2542561.92   | 0.09%             | 2051-01-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| PetSmart, Inc.                                                 | PetSmart, Inc.                                                                           | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $925000.00    | 0.03%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| CPUK Finance Ltd.                                              | CPUK Finance Ltd.                                                                        | CUSIP: N/A<br>LEI: 6354003CVDDPNXREIR29       | Long             | DBT              | CORP              | JE        |    700000 | PA      | $700179.38    | 0.02%             | 2027-08-28      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2016-25, Class SL                                                    | CUSIP: 3136ART32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3283663 | PA      | $357782.01    | 0.01%             | 2046-05-25      | Floating      | 1.98%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                | Santander UK Group Holdings plc                                                          | CUSIP: 80281LAA3<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   1520000 | PA      | $1445488.57   | 0.05%             | 2025-09-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                        | GFL Environmental, Inc.                                                                  | CUSIP: 36168QAP9<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $343240.00    | 0.01%             | 2029-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Range Resources Corp.                                          | Range Resources Corp.                                                                    | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    340000 | PA      | $354711.80    | 0.01%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                          | Mex Bonos Desarr Fix Rt                                                                  | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        | 851970000 | PA      | $40307290.64  | 1.38%             | 2031-05-29      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                                   | Intelsat Jackson Holdings SA                                                             | CUSIP: 45824TBC8<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | DBT              | CORP              | LU        |   2489000 | PA      | $2289880.00   | 0.08%             | 2030-03-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                          | Countrywide Asset-Backed Certificates, Series 2004-ECC2, Class M2                        | CUSIP: 126673CR1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    499422 | PA      | $489108.33    | 0.02%             | 2034-12-25      | Floating      | 5.02%                 | No            |                  3 | On Loan: No      |
| Lebanese Republic                                              | Lebanese Republic                                                                        | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |   3207000 | PA      | $186006.00    | 0.01%             | 2024-04-22      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| Conagra Brands, Inc.                                           | Conagra Brands, Inc.                                                                     | CUSIP: 205887CG5<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   4440000 | PA      | $4296926.77   | 0.15%             | 2023-08-11      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                           | Charter Communications Operating LLC                                                     | CUSIP: 161175BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1725000 | PA      | $1294264.74   | 0.04%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Accor SA                                                       | Accor SA                                                                                 | CUSIP: N/A<br>LEI: 969500QZC2Q0TK11NV07       | Long             | DBT              | CORP              | FR        |    600000 | PA      | $587210.58    | 0.02%             | 2024-01-30      | Variable      | 4.37%                 | Yes           |                  2 | On Loan: No      |
| Synaptics, Inc.                                                | Synaptics, Inc.                                                                          | CUSIP: 87157DAG4<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2083021.05   | 0.07%             | 2029-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Sprint Capital Corp.                                           | Sprint Capital Corp.                                                                     | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   4210000 | PA      | $4460958.10   | 0.15%             | 2028-11-15      | Fixed         | 6.88%                 | 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      | $-576561.33   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Apidos CLO XXXIV                                               | Apidos CLO XXXIV, Series 2020-34A, Class A1R                                             | CUSIP: 03768WAL9<br>LEI: 5493001VH1Y9SEPJKZ47 | Long             | ABS-CBDO         | CORP              | KY        |    925000 | PA      | $897730.08    | 0.03%             | 2035-01-20      | Floating      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| BK LC Lux Finco1 SARL                                          | BK LC Lux Finco1 SARL                                                                    | CUSIP: N/A<br>LEI: 5299004DSXRFOZZ5UG09       | Long             | DBT              | CORP              | LU        |   1669000 | PA      | $1545717.66   | 0.05%             | 2029-04-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| International Game Technology plc                              | International Game Technology plc                                                        | CUSIP: N/A<br>LEI: 549300UQ6KHRCZDRGZ76       | Long             | DBT              | CORP              | GB        |   1300000 | PA      | $1344357.60   | 0.05%             | 2024-07-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| General Motors Co.                                             | General Motors Co.                                                                       | CUSIP: 37045VAP5<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1410691.76   | 0.05%             | 2038-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| European Union                                                 | European Union                                                                           | CUSIP: N/A<br>LEI: 529900FZRK8FGMPEOM08       | Long             | DBT              | NUSS              | BE        |  14420000 | PA      | $9230753.93   | 0.32%             | 2040-10-04      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| RAC Bond Co. plc                                               | RAC Bond Co. plc                                                                         | CUSIP: N/A<br>LEI: 2138008FCM2SUNLC7B21       | Long             | DBT              | CORP              | GB        |   1078000 | PA      | $1004055.38   | 0.03%             | 2027-11-04      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp., Series AA                                                         | CUSIP: 060505EN0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    235000 | PA      | $229153.20    | 0.01%             | 2025-03-17      | Variable      | 6.10%                 | No            |                  2 | On Loan: No      |
| Shiba Bidco SpA                                                | Shiba Bidco SpA                                                                          | CUSIP: N/A<br>LEI: 815600658C215B62EA21       | Long             | DBT              | CORP              | IT        |   1800000 | PA      | $1575043.02   | 0.05%             | 2028-10-31      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                            | Exeter Automobile Receivables Trust, Series 2018-2A, Class E                             | CUSIP: 30167BAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1790000 | PA      | $1788834.53   | 0.06%             | 2025-05-15      | Fixed         | 5.33%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: N/A<br>LEI: UDSQCVRUX5BONN0VY111       | Long             | DBT              | CORP              | US        |   1000000 | PA      | $989610.61    | 0.03%             | 2025-09-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Imola Merger Corp.                                             | Imola Merger Corp.                                                                       | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2545000 | PA      | $2271412.50   | 0.08%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GDS Holdings Ltd.                                              | GDS Holdings Ltd.                                                                        | CUSIP: 36165LAB4<br>LEI: 391200MGV8DDCHTN2R77 | Long             | DBT              | CORP              | KY        |   3545000 | PA      | $3316790.63   | 0.11%             | 2025-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Enel Finance International NV                                  | Enel Finance International NV                                                            | CUSIP: 29278GAX6<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   3570000 | PA      | $3242292.06   | 0.11%             | 2032-06-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                   | Trivium Packaging Finance BV                                                             | CUSIP: N/A<br>LEI: 724500GMZWW3PVYET548       | Long             | DBT              | CORP              | NL        |   1500000 | PA      | $1422557.44   | 0.05%             | 2026-08-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                    | Federal Republic of Nigeria                                                              | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |   2857000 | PA      | $1878477.50   | 0.06%             | 2047-11-28      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                                    | Block, Inc.                                                                              | CUSIP: 852234AK9<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    840000 | PA      | $634200.00    | 0.02%             | 2027-11-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                            | Iron Mountain, Inc.                                                                      | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    297000 | PA      | $277695.00    | 0.01%             | 2028-03-15      | Fixed         | 5.25%                 | 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      | $-25151.92    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ams-OSRAM AG                                                   | ams-OSRAM AG                                                                             | CUSIP: 03217CAA4<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |   1235000 | PA      | $1134898.17   | 0.04%             | 2025-07-31      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4311, Class QI                                                      | CUSIP: 3137B7Y78<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    267699 | PA      | $7331.71      | 0.00%             | 2028-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                           | Owens-Brockway Glass Container, Inc.                                                     | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1087091.08   | 0.04%             | 2027-05-13      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                               | Boeing Co. (The)                                                                         | CUSIP: 097023CR4<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $820469.22    | 0.03%             | 2059-08-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                        | Hyundai Capital America                                                                  | CUSIP: 44891CBD4<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2377052.86   | 0.08%             | 2026-11-02      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| DKT Finance ApS                                                | DKT Finance ApS                                                                          | CUSIP: N/A<br>LEI: 529900CPZ2SMDPG5RV48       | Long             | DBT              | CORP              | DK        |    800000 | PA      | $810457.58    | 0.03%             | 2023-06-17      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                   | Barclays plc                                                                             | CUSIP: 06738EAW5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    710000 | PA      | $650957.71    | 0.02%             | 2028-05-09      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2017-KF41, Class B                                          | CUSIP: 30306KAC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    304040 | PA      | $302020.15    | 0.01%             | 2024-11-25      | Floating      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Renault SA                                                     | Renault SA                                                                               | CUSIP: N/A<br>LEI: 969500F7JLTX36OUI695       | Long             | DBT              | CORP              | FR        |   1300000 | PA      | $1101847.44   | 0.04%             | 2027-10-04      | Fixed         | 1.12%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                            | Iron Mountain, Inc.                                                                      | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    597000 | PA      | $561353.13    | 0.02%             | 2027-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Silgan Holdings, Inc.                                          | Silgan Holdings, Inc.                                                                    | CUSIP: N/A<br>LEI: KAF673KJXD92C8KSLU49       | Long             | DBT              | CORP              | US        |    333000 | PA      | $296273.05    | 0.01%             | 2028-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| GE Capital International Funding Co. Unlimited Co.             | GE Capital International Funding Co. Unlimited Co.                                       | CUSIP: 36164QNA2<br>LEI: 549300G6UZOB126GBY72 | Long             | DBT              | CORP              | IE        |   2164000 | PA      | $2042497.09   | 0.07%             | 2035-11-15      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                               | NRG Energy, Inc.                                                                         | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    210000 | PA      | $193547.55    | 0.01%             | 2029-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Air Transport Services Group, Inc.                             | Air Transport Services Group, Inc.                                                       | CUSIP: 00922RAB1<br>LEI: 5493000F3MSFGIXTQE27 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1839304.08   | 0.06%             | 2024-10-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones SA                                        | Telefonica Emisiones SA                                                                  | CUSIP: 87938WAU7<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |   1950000 | PA      | $1593328.13   | 0.05%             | 2047-03-08      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                          | Sirius XM Radio, Inc.                                                                    | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    440000 | PA      | $388880.80    | 0.01%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Paraguay                                           | Republic of Paraguay                                                                     | CUSIP: 699149AC4<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    259000 | PA      | $257834.50    | 0.01%             | 2026-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                   | Pacific Gas and Electric Co.                                                             | CUSIP: 694308HH3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    294000 | PA      | $229940.11    | 0.01%             | 2044-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Verisure Holding AB                                            | Verisure Holding AB                                                                      | CUSIP: N/A<br>LEI: 549300VQQCWGISM3N408       | Long             | DBT              | CORP              | SE        |   1207000 | PA      | $1136683.81   | 0.04%             | 2026-07-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                    | Acadia Healthcare Co., Inc.                                                              | CUSIP: 00404AAP4<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    410000 | PA      | $378270.10    | 0.01%             | 2029-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Coherent Corp.                                                 | Coherent Corp.                                                                           | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |   3134000 | PA      | $2765755.00   | 0.09%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Herens Midco SARL                                              | Herens Midco SARL                                                                        | CUSIP: N/A<br>LEI: 222100BJH5XPZD1JHF79       | Long             | DBT              | CORP              | LU        |   1986000 | PA      | $1418225.95   | 0.05%             | 2029-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    535000 | PA      | $425443.06    | 0.01%             | 2032-10-20      | Variable      | 2.51%                 | No            |                  2 | On Loan: No      |
| Baltimore Gas and Electric Co.                                 | Baltimore Gas and Electric Co.                                                           | CUSIP: 059165EP1<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $956321.14    | 0.03%             | 2052-06-01      | Fixed         | 4.55%                 | 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      | $-78196.20    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                   | Tallgrass Energy Partners LP                                                             | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $361996.00    | 0.01%             | 2030-12-31      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| MetLife, Inc.                                                  | MetLife, Inc.                                                                            | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    435000 | PA      | $409693.77    | 0.01%             | 2036-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Iceland Bondco plc                                             | Iceland Bondco plc                                                                       | CUSIP: N/A<br>LEI: 2138002DRBYIA8QXHO36       | Long             | DBT              | CORP              | GB        |    850000 | PA      | $847742.72    | 0.03%             | 2025-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| MetLife, Inc.                                                  | MetLife, Inc.                                                                            | CUSIP: 59156RBS6<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   3935000 | PA      | $4559624.66   | 0.16%             | 2038-04-08      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive plc                               | Jaguar Land Rover Automotive plc                                                         | CUSIP: N/A<br>LEI: 529900L73GEWN1O5NH84       | Long             | DBT              | CORP              | GB        |    985000 | PA      | $989960.92    | 0.03%             | 2024-11-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                   | Scotts Miracle-Gro Co. (The)                                                             | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    500000 | PA      | $384640.55    | 0.01%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                   | Pacific Gas and Electric Co.                                                             | CUSIP: 694308HP5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1006000 | PA      | $920634.51    | 0.03%             | 2026-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Vail Resorts, Inc.                                             | Vail Resorts, Inc.                                                                       | CUSIP: 91879QAL3<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   2290000 | PA      | $2287617.90   | 0.08%             | 2025-05-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ACE Securities Corp. Home Equity Loan Trust                    | ACE Securities Corp. Home Equity Loan Trust, Series 2004-OP1, Class M2                   | CUSIP: 004421EX7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37700 | PA      | $35756.59     | 0.00%             | 2034-04-25      | Floating      | 5.62%                 | No            |                  3 | On Loan: No      |
| Cirsa Finance International Sarl                               | Cirsa Finance International Sarl                                                         | CUSIP: N/A<br>LEI: 254900KUJN6DHWH2K029       | Long             | DBT              | CORP              | LU        |    390000 | PA      | $420038.19    | 0.01%             | 2027-11-30      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: No      |
| LANXESS AG                                                     | LANXESS AG                                                                               | CUSIP: N/A<br>LEI: 529900PTLRE72EMYIJ77       | Long             | DBT              | CORP              | DE        |    850000 | PA      | $869501.64    | 0.03%             | 2076-12-06      | Variable      | 4.50%                 | 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      | $-189.04      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ontex Group NV                                                 | Ontex Group NV                                                                           | CUSIP: N/A<br>LEI: 549300AQESC6JJOPW253       | Long             | DBT              | CORP              | BE        |   1300000 | PA      | $1116197.73   | 0.04%             | 2026-07-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| DaVita, Inc.                                                   | DaVita, Inc.                                                                             | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    648000 | PA      | $476280.00    | 0.02%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| AES Corp. (The)                                                | AES Corp. (The)                                                                          | CUSIP: 00130HCC7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |   1568000 | PA      | $1372784.00   | 0.05%             | 2030-07-15      | Fixed         | 3.95%                 | 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      | $101734.00    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                                  | UniCredit SpA                                                                            | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | DBT              | CORP              | IT        |    781000 | PA      | $813212.49    | 0.03%             | 2026-06-03      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                      | Standard Industries, Inc.                                                                | CUSIP: N/A<br>LEI: 54930064UHXCIUWVI755       | Long             | DBT              | CORP              | US        |    582000 | PA      | $507391.30    | 0.02%             | 2026-11-21      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                         | Tenet Healthcare Corp.                                                                   | CUSIP: 88033GCY4<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   4545000 | PA      | $4313114.10   | 0.15%             | 2026-01-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust                                 | Cascade Funding Mortgage Trust, Series 2021-FRR1, Class BK45                             | CUSIP: 12529YAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13900000 | PA      | $12187784.10  | 0.42%             | 2025-02-28      | Variable      | 2.10%                 | Yes           |                  3 | On Loan: No      |
| Chevron USA, Inc.                                              | Chevron USA, Inc.                                                                        | CUSIP: 166756AH9<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |   3342000 | PA      | $2170084.09   | 0.07%             | 2050-08-12      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                          | Coinbase Global, Inc.                                                                    | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $745212.00    | 0.03%             | 2028-10-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                         | Tenet Healthcare Corp.                                                                   | CUSIP: 88033GDG2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1665000 | PA      | $1490206.92   | 0.05%             | 2028-06-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                   | Tallgrass Energy Partners LP                                                             | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $95287.50     | 0.00%             | 2028-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                                        | BPCE SA                                                                                  | CUSIP: 05578QAB9<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   8195000 | PA      | $8035709.44   | 0.27%             | 2024-07-21      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Glencore Funding LLC                                           | Glencore Funding LLC                                                                     | CUSIP: 378272AY4<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   3363000 | PA      | $2728985.88   | 0.09%             | 2030-09-01      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Lune Holdings SARL                                             | Lune Holdings SARL                                                                       | CUSIP: N/A<br>LEI: 54930003WQ56T0558M33       | Long             | DBT              | CORP              | LU        |   1599000 | PA      | $1374397.44   | 0.05%             | 2028-11-15      | Fixed         | 5.62%                 | 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      | $326365.24    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co.                                          | Kraft Heinz Foods Co.                                                                    | CUSIP: N/A<br>LEI: 5493003STKEZ2S0RNU91       | Long             | DBT              | CORP              | US        |    700000 | PA      | $677614.17    | 0.02%             | 2028-05-25      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                              | Wells Fargo & Co., Series BB                                                             | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4790000 | PA      | $4173287.50   | 0.14%             | 2026-03-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Precision Drilling Corp.                                       | Precision Drilling Corp.                                                                 | CUSIP: 740212AL9<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |    684000 | PA      | $669731.76    | 0.02%             | 2026-01-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Co.                                                 | Ford Motor Co.                                                                           | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   3583000 | PA      | $3701239.00   | 0.13%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GYE8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   6095000 | PA      | $5841639.75   | 0.20%             | 2024-09-10      | Variable      | 0.66%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                       | Bausch Health Cos., Inc.                                                                 | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2654000 | PA      | $1105212.65   | 0.04%             | 2030-01-30      | Fixed         | 5.25%                 | 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      | $-128581.51   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Techem Verwaltungsgesellschaft 675 mbH                         | Techem Verwaltungsgesellschaft 675 mbH                                                   | CUSIP: N/A<br>LEI: 529900N0M7FQHNAV1A41       | Long             | DBT              | CORP              | DE        |   3000000 | PA      | $2880591.02   | 0.10%             | 2025-07-15      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| FGI Operating Co. LLC                                          | FGI Operating Co. LLC, 1st Lien Term Loan                                                | CUSIP: 30252KAF4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     47732 | PA      | $5202.73      | 0.00%             | 2023-05-16      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| N/A                                                            | U.S. Treasury 10 Year Ultra Note                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |     -1611 | NC      | $-1035760.23  | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce plc                                                | Rolls-Royce plc                                                                          | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    915000 | PA      | $870567.60    | 0.03%             | 2027-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Loxam SAS                                                      | Loxam SAS                                                                                | CUSIP: N/A<br>LEI: 969500BNA2YRNE1R5K91       | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $960109.60    | 0.03%             | 2027-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| New Albertsons LP                                              | New Albertsons LP                                                                        | CUSIP: 013104AF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    197000 | PA      | $198640.44    | 0.01%             | 2029-08-01      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                   | Performance Food Group, Inc.                                                             | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    824000 | PA      | $795160.00    | 0.03%             | 2027-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                          | Sumitomo Mitsui Financial Group, Inc.                                                    | CUSIP: 86562MBB5<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   1687000 | PA      | $1671072.26   | 0.06%             | 2023-07-19      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Portuguese Republic                                            | Portuguese Republic                                                                      | CUSIP: N/A<br>LEI: 549300P6U1FJ3IMP7K42       | Long             | DBT              | NUSS              | PT        |  12380000 | PA      | $12370987.36  | 0.42%             | 2024-10-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                              | GLS Auto Receivables Issuer Trust, Series 2022-3A, Class B                               | CUSIP: 38014QAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $438841.76    | 0.01%             | 2027-01-15      | Fixed         | 4.92%                 | Yes           |                  2 | On Loan: No      |
| Pinnacle Bidco plc                                             | Pinnacle Bidco plc                                                                       | CUSIP: N/A<br>LEI: 2138006Z5V8OBL2A2Q06       | Long             | DBT              | CORP              | GB        |   1644000 | PA      | $1530974.33   | 0.05%             | 2025-02-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                           | Anheuser-Busch InBev Worldwide, Inc.                                                     | CUSIP: 03523TBT4<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   3631000 | PA      | $3188643.22   | 0.11%             | 2048-10-06      | Fixed         | 4.44%                 | 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      | $-8795.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Antolin-Irausa SA                                        | Grupo Antolin-Irausa SA                                                                  | CUSIP: N/A<br>LEI: 213800OILC5Q9AR63B63       | Long             | DBT              | CORP              | ES        |    555000 | PA      | $436048.97    | 0.01%             | 2028-04-30      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                | Santander UK Group Holdings plc                                                          | CUSIP: 80281LAS4<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   2785000 | PA      | $2813583.07   | 0.10%             | 2026-11-21      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| IQVIA, Inc.                                                    | IQVIA, Inc.                                                                              | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1293902.01   | 0.04%             | 2027-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                              | Hertz Corp. (The)                                                                        | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $988917.46    | 0.03%             | 2026-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ITC Holdings Corp.                                             | ITC Holdings Corp.                                                                       | CUSIP: 465685AQ8<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |   7371000 | PA      | $6260937.50   | 0.21%             | 2030-05-14      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| Photo Holdings Merger Sub, Inc.                                | Photo Holdings Merger Sub, Inc.                                                          | CUSIP: 719245AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1175000 | PA      | $723206.67    | 0.02%             | 2026-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                   | Barclays plc                                                                             | CUSIP: 06738EBZ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   4315000 | PA      | $4243373.55   | 0.14%             | 2026-08-09      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| Ameren Corp.                                                   | Ameren Corp.                                                                             | CUSIP: 023608AJ1<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    850000 | PA      | $756811.87    | 0.03%             | 2031-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| eG Global Finance plc                                          | eG Global Finance plc                                                                    | CUSIP: N/A<br>LEI: 549300TL8Q5207VYET27       | Long             | DBT              | CORP              | GB        |   2575000 | PA      | $2338117.39   | 0.08%             | 2025-02-07      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                        | Bath & Body Works, Inc.                                                                  | CUSIP: 501797AR5<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    196000 | PA      | $196653.66    | 0.01%             | 2029-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                                   | Ardagh Packaging Finance plc                                                             | CUSIP: 03969AAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    935000 | PA      | $822800.00    | 0.03%             | 2026-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Canada                                                         | Canada Government Bond                                                                   | CUSIP: 135087L85<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |  33649000 | PA      | $24609560.06  | 0.84%             | 2023-05-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                          | Sirius XM Radio, Inc.                                                                    | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    940000 | PA      | $793190.80    | 0.03%             | 2030-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Saipem Finance International BV                                | Saipem Finance International BV                                                          | CUSIP: N/A<br>LEI: 724500V4QZAOY63SY989       | Long             | DBT              | CORP              | NL        |    500000 | PA      | $488717.79    | 0.02%             | 2025-01-07      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Targa Resources Partners LP                                    | Targa Resources Partners LP                                                              | CUSIP: 87612BBG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    352000 | PA      | $333424.96    | 0.01%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ZF Finance GmbH                                                | ZF Finance GmbH                                                                          | CUSIP: N/A<br>LEI: 5493001N9T6QDCCXB426       | Long             | DBT              | CORP              | DE        |   1300000 | PA      | $1267571.10   | 0.04%             | 2025-09-21      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2016-KF24, Class B                                          | CUSIP: 30295TAA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    172024 | PA      | $173305.88    | 0.01%             | 2026-10-25      | Floating      | 8.80%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen International Finance NV                            | Volkswagen International Finance NV                                                      | CUSIP: N/A<br>LEI: 5299004PWNHKYTR23649       | Long             | DBT              | CORP              | NL        |    700000 | PA      | $674444.08    | 0.02%             | 2025-06-17      | Variable      | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust I LLC                                 | Angel Oak Mortgage Trust I LLC, Series 2019-4, Class A3                                  | CUSIP: 03463UAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     34829 | PA      | $34543.96     | 0.00%             | 2049-07-26      | Variable      | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Realogy Group LLC                                              | Realogy Group LLC                                                                        | CUSIP: 75606DAQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    645000 | PA      | $474075.00    | 0.02%             | 2030-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Snap, Inc.                                                     | Snap, Inc.                                                                               | CUSIP: 83304AAB2<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $934578.13    | 0.03%             | 2026-08-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                          | Avantor Funding, Inc.                                                                    | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   1156000 | PA      | $1063520.00   | 0.04%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Orange SA                                                      | Orange SA                                                                                | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1378578.57   | 0.05%             | 2025-01-15      | Variable      | 2.38%                 | Yes           |                  2 | On Loan: No      |
| Accelerated Assets LLC                                         | Accelerated Assets LLC, Series 2018-1, Class C                                           | CUSIP: 00436MAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    896324 | PA      | $866587.43    | 0.03%             | 2033-12-02      | Fixed         | 6.65%                 | Yes           |                  3 | On Loan: No      |
| iHeartMedia, Inc.                                              | iHeartMedia, Inc., Class A                                                               | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24528 | NS      | $197205.12    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc.                                                                          | CUSIP: 17327CAM5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5465000 | PA      | $4767052.66   | 0.16%             | 2027-01-28      | Variable      | 1.12%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K067, Class X3          | CUSIP: 3137FAWV6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  25210000 | PA      | $2030983.15   | 0.07%             | 2044-09-25      | Variable      | 2.19%                 | No            |                  2 | On Loan: No      |
| WEPA Hygieneprodukte GmbH                                      | WEPA Hygieneprodukte GmbH                                                                | CUSIP: N/A<br>LEI: 529900KQ44OJDIDU6J81       | Long             | DBT              | CORP              | DE        |    500000 | PA      | $421990.36    | 0.01%             | 2027-12-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                              | Hertz Corp. (The), Escrow                                                                | CUSIP: 428ESCAB3<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $48000.00     | 0.00%             | 2024-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2013-64, Class LI                                                    | CUSIP: 3136AEWZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    590035 | PA      | $58273.66     | 0.00%             | 2033-06-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| People's Republic of China                                     | People's Republic of China                                                               | CUSIP: N/A<br>LEI: 300300CHN201808MOF68       | Long             | DBT              | NUSS              | CN        | 133640000 | PA      | $18685970.79  | 0.64%             | 2032-02-17      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Group AG                                         | Credit Suisse Group AG                                                                   | CUSIP: 225401AU2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   5132000 | PA      | $3496240.07   | 0.12%             | 2032-05-14      | Variable      | 3.09%                 | Yes           |                  2 | On Loan: No      |
| DSLA Mortgage Loan Trust                                       | DSLA Mortgage Loan Trust, Series 2005-AR4, Class 2A1A                                    | CUSIP: 23332UEM2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    434553 | PA      | $359111.05    | 0.01%             | 2045-08-19      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2017-23                                                                     | CUSIP: 38379RMS9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5186284 | PA      | $182792.12    | 0.01%             | 2059-05-16      | Variable      | 0.61%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software, Inc.                            | Take-Two Interactive Software, Inc.                                                      | CUSIP: 874054AH2<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    720000 | PA      | $641213.49    | 0.02%             | 2032-04-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southern Co. Gas Capital Corp.                                 | Southern Co. Gas Capital Corp., Series 20-A                                              | CUSIP: 8426EPAD0<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |   1724000 | PA      | $1321585.75   | 0.05%             | 2031-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive plc                               | Jaguar Land Rover Automotive plc                                                         | CUSIP: N/A<br>LEI: 529900L73GEWN1O5NH84       | Long             | DBT              | CORP              | GB        |   1006000 | PA      | $965447.33    | 0.03%             | 2026-11-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                               | ABN AMRO Bank NV                                                                         | CUSIP: 00080QAF2<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   3555000 | PA      | $3411840.15   | 0.12%             | 2025-07-28      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Saxon Asset Securities Trust                                   | Saxon Asset Securities Trust, Series 2004-3, Class M1                                    | CUSIP: 805564QV6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    162516 | PA      | $150773.91    | 0.01%             | 2034-12-26      | Floating      | 4.94%                 | No            |                  3 | On Loan: No      |
| IHO Verwaltungs GmbH                                           | IHO Verwaltungs GmbH                                                                     | CUSIP: N/A<br>LEI: 529900JL0HDVGZMUJF32       | Long             | DBT              | CORP              | DE        |   2000000 | PA      | $1812329.79   | 0.06%             | 2027-05-15      | Variable      | 3.88%                 | Yes           |                  2 | On Loan: No      |
| NCR Corp.                                                      | NCR Corp.                                                                                | CUSIP: 62886EAU2<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    455000 | PA      | $442487.50    | 0.02%             | 2027-09-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Constellation Automotive Financing plc                         | Constellation Automotive Financing plc                                                   | CUSIP: N/A<br>LEI: 254900HVTSU7VICDRM89       | Long             | DBT              | CORP              | GB        |   1031000 | PA      | $821677.68    | 0.03%             | 2027-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Energean Israel Finance Ltd.                                   | Energean Israel Finance Ltd.                                                             | CUSIP: N/A<br>LEI: 98450044QACBL3F8EB03       | Long             | DBT              | CORP              | IL        |   2289000 | PA      | $2128770.00   | 0.07%             | 2026-03-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| MGM Resorts International                                      | MGM Resorts International                                                                | CUSIP: 552953CD1<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    307000 | PA      | $283225.03    | 0.01%             | 2026-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                              | NatWest Group plc                                                                        | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1195000 | PA      | $1093425.00   | 0.04%             | 2025-12-29      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Republic of Paraguay                                           | Republic of Paraguay                                                                     | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |   3010000 | PA      | $2996455.00   | 0.10%             | 2026-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties LP                                             | VICI Properties LP                                                                       | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    823000 | PA      | $765538.73    | 0.03%             | 2026-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                                    | Capital One Financial Corp., Series M                                                    | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   6083000 | PA      | $4683910.00   | 0.16%             | 2026-09-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| PRET LLC                                                       | PRET LLC, Series 2022-NPL4, Class A1                                                     | CUSIP: 69381RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3402711 | PA      | $3344594.37   | 0.11%             | 2052-08-25      | Variable      | 6.56%                 | Yes           |                  2 | On Loan: No      |
| United Mexican States                                          | United Mexican States                                                                    | CUSIP: 91087BAN0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   7068000 | PA      | $4779735.00   | 0.16%             | 2061-05-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                             | Credit Agricole SA                                                                       | CUSIP: 22535WAH0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    827000 | PA      | $720683.43    | 0.02%             | 2027-01-26      | Variable      | 1.25%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia SpA                                             | Telecom Italia SpA                                                                       | CUSIP: N/A<br>LEI: 549300W384M3RI3VXU42       | Long             | DBT              | CORP              | IT        |    750000 | PA      | $755085.38    | 0.03%             | 2024-04-11      | Fixed         | 4.00%                 | 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      | $-482871.69   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                            | Newell Brands, Inc.                                                                      | CUSIP: 651229AY2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    300000 | PA      | $231000.00    | 0.01%             | 2046-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Scripps Escrow II, Inc.                                        | Scripps Escrow II, Inc.                                                                  | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $432896.13    | 0.01%             | 2029-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | IRS                                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        | 135000000 | PA      | $4609448.20   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Ball Corp.                                                     | Ball Corp.                                                                               | CUSIP: N/A<br>LEI: 0BGI85ALH27ZJP15DY16       | Long             | DBT              | CORP              | US        |   1525000 | PA      | $1609385.73   | 0.05%             | 2023-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2013-15                                                              | CUSIP: 3136ACQ46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    883992 | PA      | $40618.10     | 0.00%             | 2028-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PLT VII Finance SARL                                           | PLT VII Finance SARL                                                                     | CUSIP: N/A<br>LEI: 894500SKZV4JDP64R249       | Long             | DBT              | CORP              | LU        |    323000 | PA      | $314810.91    | 0.01%             | 2026-01-05      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Summer BC Holdco A SARL                                        | Summer BC Holdco A SARL                                                                  | CUSIP: N/A<br>LEI: 984500EFA0BRE0008996       | Long             | DBT              | CORP              | LU        |    807411 | PA      | $651215.55    | 0.02%             | 2027-10-31      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Go Daddy Operating Co. LLC                                     | Go Daddy Operating Co. LLC                                                               | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1569000 | PA      | $1486984.62   | 0.05%             | 2027-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Dropbox, Inc.                                                  | Dropbox, Inc.                                                                            | CUSIP: 26210CAD6<br>LEI: 549300JCDF7UAR6TJR51 | Long             | DBT              | CORP              | US        |   7816000 | PA      | $7050032.00   | 0.24%             | 2028-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rossini SARL                                                   | Rossini SARL                                                                             | CUSIP: N/A<br>LEI: 549300EC5JCCW6F83R11       | Long             | DBT              | CORP              | LU        |   1750000 | PA      | $1823690.54   | 0.06%             | 2025-10-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Titan Holdings II BV                                           | Titan Holdings II BV                                                                     | CUSIP: N/A<br>LEI: 549300XU72VK2GL31495       | Long             | DBT              | CORP              | NL        |   1161000 | PA      | $963488.95    | 0.03%             | 2029-07-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5405000 | PA      | $4735996.13   | 0.16%             | 2027-07-22      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                      | Republic of Cote d'Ivoire                                                                | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |   2330000 | PA      | $2233887.50   | 0.08%             | 2028-03-03      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Goodman Networks, Inc.                                         | Goodman Networks, Inc.                                                                   | CUSIP: 38239H105<br>LEI: 549300UMUT10TOBP5N08 | Long             | EC               | CORP              | US        |       538 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Transocean, Inc.                                               | Transocean, Inc.                                                                         | CUSIP: 893830BQ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    193000 | PA      | $195405.75    | 0.01%             | 2027-01-30      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Grifols Escrow Issuer SA                                       | Grifols Escrow Issuer SA                                                                 | CUSIP: 39843UAA0<br>LEI: 959800HLB3PGTGSLVV62 | Long             | DBT              | CORP              | ES        |    440000 | PA      | $369767.20    | 0.01%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                       | PNC Financial Services Group, Inc. (The), Series T                                       | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   5495000 | PA      | $4228420.69   | 0.14%             | 2026-09-15      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Confluent, Inc.                                                | Confluent, Inc.                                                                          | CUSIP: 20717MAA1<br>LEI: 254900MRZ83YWUV7SN74 | Long             | DBT              | CORP              | US        |    500000 | PA      | $376250.00    | 0.01%             | 2027-01-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Suzano Austria GmbH                                            | Suzano Austria GmbH                                                                      | CUSIP: N/A<br>LEI: 254900287ZNSGVP1R341       | Long             | DBT              | CORP              | AT        |   1660000 | PA      | $1647550.00   | 0.06%             | 2047-03-16      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                       | Lumen Technologies, Inc.                                                                 | CUSIP: 156700BB1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   2389000 | PA      | $2042595.00   | 0.07%             | 2026-12-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K729, Class X1          | CUSIP: 3137FCM68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  25187279 | PA      | $121483.28    | 0.00%             | 2024-10-25      | Variable      | 0.47%                 | 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      | $-870245.21   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4018, Class HI                                                      | CUSIP: 3137AMW94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     82695 | PA      | $6644.00      | 0.00%             | 2041-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Sarens Finance Co. NV                                          | Sarens Finance Co. NV                                                                    | CUSIP: N/A<br>LEI: 549300B68EWZ6IHPCL79       | Long             | DBT              | CORP              | BE        |   1900000 | PA      | $1493531.57   | 0.05%             | 2027-02-21      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Renew                                                          | Renew, Series 2017-1A, Class B                                                           | CUSIP: 75973LAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    160533 | PA      | $148747.29    | 0.01%             | 2052-09-20      | Fixed         | 5.75%                 | Yes           |                  3 | On Loan: No      |
| Transocean Proteus Ltd.                                        | Transocean Proteus Ltd.                                                                  | CUSIP: 893829AA9<br>LEI: 5493000CTMQ2LH21VM89 | Long             | DBT              | CORP              | KY        |     97200 | PA      | $95256.00     | 0.00%             | 2024-12-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Novelis Sheet Ingot GmbH                                       | Novelis Sheet Ingot GmbH                                                                 | CUSIP: N/A<br>LEI: 9845005E95899E77AY49       | Long             | DBT              | CORP              | DE        |   1098000 | PA      | $990149.66    | 0.03%             | 2029-04-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| KazMunayGas National Co. JSC                                   | KazMunayGas National Co. JSC                                                             | CUSIP: N/A<br>LEI: 2138001H1M69RFJCSH88       | Long             | DBT              | CORP              | KZ        |   5480000 | PA      | $4114795.00   | 0.14%             | 2047-04-19      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                                     | Sensata Technologies, Inc.                                                               | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    156000 | PA      | $138154.38    | 0.00%             | 2030-02-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Envestnet, Inc.                                                | Envestnet, Inc.                                                                          | CUSIP: 29404KAF3<br>LEI: 549300HLWZ5OKIDM8737 | Long             | DBT              | CORP              | US        |   2075000 | PA      | $2173562.50   | 0.07%             | 2027-12-01      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse Group AG                                         | Credit Suisse Group AG                                                                   | CUSIP: 225401BB3<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   2380000 | PA      | $2416336.60   | 0.08%             | 2033-11-15      | Variable      | 9.02%                 | Yes           |                  2 | On Loan: No      |
| Itron, Inc.                                                    | Itron, Inc.                                                                              | CUSIP: 465741AN6<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | DBT              | CORP              | US        |   3175000 | PA      | $2619882.21   | 0.09%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MIWD Holdco II LLC                                             | MIWD Holdco II LLC                                                                       | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    680000 | PA      | $557600.00    | 0.02%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | Windstream Holdings, Inc.                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DO               |  | US        |       803 | NS      | $11242.00     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| JetBlue Pass-Through Trust                                     | JetBlue Pass-Through Trust, Series 2019-1, Class B                                       | CUSIP: 477165AA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    671196 | PA      | $656044.96    | 0.02%             | 2027-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AppleCaramel Buyer LLC                                         | AppleCaramel Buyer LLC, 1st Lien Term Loan B                                             | CUSIP: 96350TAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    937869 | PA      | $901882.92    | 0.03%             | 2027-10-19      | Variable      | 7.84%                 | No            |                  2 | On Loan: No      |
| Constellium SE                                                 | Constellium SE                                                                           | CUSIP: N/A<br>LEI: 724500KRJEMC79KAAU28       | Long             | DBT              | CORP              | FR        |    641000 | PA      | $642844.96    | 0.02%             | 2026-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                        | Level 3 Financing, Inc.                                                                  | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    445000 | PA      | $321812.52    | 0.01%             | 2029-07-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| AES Corp. (The)                                                | AES Corp. (The)                                                                          | CUSIP: 00130HCB9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    781000 | PA      | $730957.71    | 0.02%             | 2025-07-15      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| eircom Finance DAC                                             | eircom Finance DAC                                                                       | CUSIP: N/A<br>LEI: 254900NA4DUH50UERM85       | Long             | DBT              | CORP              | IE        |   3230000 | PA      | $3070749.15   | 0.10%             | 2026-05-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                     | Verus Securitization Trust, Series 2020-1, Class A1                                      | CUSIP: 92536PAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    378055 | PA      | $355031.77    | 0.01%             | 2060-01-25      | Variable      | 2.42%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                              | Wells Fargo & Co.                                                                        | CUSIP: 95000U2R3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6873446.44   | 0.23%             | 2024-06-02      | Variable      | 1.65%                 | No            |                  2 | On Loan: No      |
| GSMSC Pass-Through Trust                                       | GSMSC Pass-Through Trust, Series 2008-2R, Class 2A1                                      | CUSIP: 3622X1AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    126905 | PA      | $29943.48     | 0.00%             | 2036-10-25      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| AmeriGas Partners LP                                           | AmeriGas Partners LP                                                                     | CUSIP: 030981AK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $489850.00    | 0.02%             | 2025-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                           | Charter Communications Operating LLC                                                     | CUSIP: 161175BZ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1260000 | PA      | $851733.31    | 0.03%             | 2041-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Traeger Grills                                                 | Traeger Grills, Delayed Draw Term Loan                                                   | CUSIP: 87251RAL7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |         0 | PA      | $0.02         | 0.00%             | 2028-06-29      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                            | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class C                           | CUSIP: 17322VAX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    353000 | PA      | $331606.93    | 0.01%             | 2047-07-10      | Variable      | 4.58%                 | No            |                  3 | On Loan: No      |
| SM Energy Co.                                                  | SM Energy Co.                                                                            | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    500000 | PA      | $490000.00    | 0.02%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Guess?, Inc.                                                   | Guess?, Inc.                                                                             | CUSIP: 401617AD7<br>LEI: 549300QVH3ZK2DW0KP86 | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2340412.50   | 0.08%             | 2024-04-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                   | Hess Midstream Operations LP                                                             | CUSIP: 428104AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $390705.90    | 0.01%             | 2028-06-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Lorca Telecom Bondco SA                                        | Lorca Telecom Bondco SA                                                                  | CUSIP: N/A<br>LEI: 9598004HFBAS82YM7X35       | Long             | DBT              | CORP              | ES        |   4372000 | PA      | $4116818.18   | 0.14%             | 2027-09-18      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| AIMCO CLO 10 Ltd.                                              | AIMCO CLO Ltd., Series 2019-10A, Class AR                                                | CUSIP: 00901AAJ6<br>LEI: 5493004I93856WYBB035 | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $536281.90    | 0.02%             | 2032-07-22      | Floating      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc.                                                                          | CUSIP: 172967NX5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4938000 | PA      | $4955312.97   | 0.17%             | 2026-09-29      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Uber Technologies, Inc.                                        | Uber Technologies, Inc.                                                                  | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1270966.50   | 0.04%             | 2029-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Paraguay Government International Bond                         | Republic of Paraguay                                                                     | CUSIP: 699149AL4<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |   1521000 | PA      | $1314999.56   | 0.04%             | 2033-06-28      | Fixed         | 3.85%                 | 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      | $-3765.24     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                            | Fifth Third Bancorp                                                                      | CUSIP: 316773DF4<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   1466000 | PA      | $1332892.18   | 0.05%             | 2033-04-25      | Variable      | 4.34%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                   | AbbVie, Inc.                                                                             | CUSIP: 00287YCB3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1555000 | PA      | $1337112.79   | 0.05%             | 2049-11-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                     | AT&T, Inc.                                                                               | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   4170000 | PA      | $3275998.16   | 0.11%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                     | Charles Schwab Corp. (The), Series H                                                     | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   8297000 | PA      | $6492402.50   | 0.22%             | 2030-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                              | HSBC Holdings plc                                                                        | CUSIP: 404280DG1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4135000 | PA      | $3990187.50   | 0.14%             | 2028-08-11      | Variable      | 5.21%                 | No            |                  2 | On Loan: No      |
| NMG Holding Co., Inc.                                          | NMG Holding Co., Inc.                                                                    | CUSIP: 62929RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335000 | PA      | $322591.60    | 0.01%             | 2026-04-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                        | GFL Environmental, Inc.                                                                  | CUSIP: 36168QAL8<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   2110000 | PA      | $1810179.55   | 0.06%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Cellnex Telecom SA                                             | Cellnex Telecom SA                                                                       | CUSIP: N/A<br>LEI: 5493008T4YG3AQUI7P67       | Long             | DBT              | CORP              | ES        |   1500000 | PA      | $1523578.89   | 0.05%             | 2025-04-18      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Smurfit Kappa Acquisitions ULC                                 | Smurfit Kappa Acquisitions ULC                                                           | CUSIP: N/A<br>LEI: 6354002XN4LUSDRPTR29       | Long             | DBT              | CORP              | IE        |   1950000 | PA      | $1986740.07   | 0.07%             | 2026-01-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corp.                                                | Air Lease Corp.                                                                          | CUSIP: 00914AAJ1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1713000 | PA      | $1577948.81   | 0.05%             | 2026-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                            | Post Holdings, Inc.                                                                      | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $877350.00    | 0.03%             | 2030-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                               | Clarivate Science Holdings Corp.                                                         | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $214062.50    | 0.01%             | 2029-07-01      | Fixed         | 4.88%                 | 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      | $235203.50    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlantia SpA                                                   | Atlantia SpA                                                                             | CUSIP: N/A<br>LEI: 8156008DEC771409C487       | Long             | DBT              | CORP              | IT        |    900000 | PA      | $875792.28    | 0.03%             | 2025-02-03      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                           | Charter Communications Operating LLC                                                     | CUSIP: 161175CD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1047408.41   | 0.04%             | 2029-01-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                                 | Commonwealth Bank of Australia                                                           | CUSIP: 202712BS3<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |   1085000 | PA      | $891004.65    | 0.03%             | 2032-03-14      | Fixed         | 3.78%                 | Yes           |                  2 | On Loan: No      |
| Goodman Networks, Inc.                                         | Goodman Networks, Inc.                                                                   | CUSIP: 38239H204<br>LEI: 549300UMUT10TOBP5N08 | Long             | EP               | CORP              | US        |       640 | NS      | $6.40         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Standard Chartered plc                                         | Standard Chartered plc                                                                   | CUSIP: 853254CL2<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   2200000 | PA      | $2269247.86   | 0.08%             | 2025-11-16      | Variable      | 7.78%                 | Yes           |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                   | Royal Caribbean Cruises Ltd.                                                             | CUSIP: 780153BL5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1110000 | PA      | $1140525.00   | 0.04%             | 2027-08-15      | Fixed         | 11.62%                | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                              | NatWest Group plc                                                                        | CUSIP: 780097BK6<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    830000 | PA      | $807617.31    | 0.03%             | 2025-03-22      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Integra LifeSciences Holdings Corp.                            | Integra LifeSciences Holdings Corp.                                                      | CUSIP: 457985AM1<br>LEI: WB7IJCYY8YFTENS4O147 | Long             | DBT              | CORP              | US        |   3245000 | PA      | $3126557.50   | 0.11%             | 2025-08-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Republic of Kazakhstan                                         | Republic of Kazakhstan                                                                   | CUSIP: N/A<br>LEI: 5493007OEK8EF02UO833       | Long             | DBT              | NUSS              | KZ        |   2780000 | PA      | $2046704.13   | 0.07%             | 2034-09-30      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                             | Kingdom of Bahrain                                                                       | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |   4041000 | PA      | $3112327.69   | 0.11%             | 2044-09-19      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| TK Elevator Holdco GmbH                                        | TK Elevator Holdco GmbH                                                                  | CUSIP: N/A<br>LEI: 2549008GCHWX9EEMIS56       | Long             | DBT              | CORP              | DE        |    900000 | PA      | $772645.51    | 0.03%             | 2028-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Faurecia SE                                                    | Faurecia SE                                                                              | CUSIP: N/A<br>LEI: 969500F0VMZLK2IULV85       | Long             | DBT              | CORP              | FR        |    650000 | PA      | $631788.85    | 0.02%             | 2025-06-15      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Longfor Group Holdings Ltd.                                    | Longfor Group Holdings Ltd.                                                              | CUSIP: N/A<br>LEI: 254900UJX27B2F1JYR13       | Long             | DBT              | CORP              | KY        |   3780000 | PA      | $2749950.00   | 0.09%             | 2028-01-16      | Fixed         | 4.50%                 | 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      | $-258404.02   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Triumph Group, Inc.                                            | Triumph Group, Inc.                                                                      | CUSIP: 896818AP6<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |    715000 | PA      | $613112.50    | 0.02%             | 2025-08-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                           | Charter Communications Operating LLC                                                     | CUSIP: 161175BL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2844000 | PA      | $2352804.14   | 0.08%             | 2047-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Team Health Holdings, Inc.                                     | Team Health Holdings, Inc., 1st Lien Term Loan B                                         | CUSIP: 87817JAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    963238 | PA      | $664634.39    | 0.02%             | 2027-03-02      | Variable      | 9.34%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                            | Intesa Sanpaolo SpA                                                                      | CUSIP: 46115HBS5<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   2144000 | PA      | $1409373.69   | 0.05%             | 2042-06-01      | Variable      | 4.95%                 | Yes           |                  2 | On Loan: No      |
| State of Qatar                                                 | State of Qatar                                                                           | CUSIP: 74727PBE0<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |   2960000 | PA      | $2689900.00   | 0.09%             | 2050-04-16      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 5022                                                                | CUSIP: 3137FXDW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7189559 | PA      | $1025815.60   | 0.04%             | 2050-09-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Greenbrier Cos., Inc. (The)                                    | Greenbrier Cos., Inc. (The)                                                              | CUSIP: 393657AM3<br>LEI: 5493001GAGGFR30BP390 | Long             | DBT              | CORP              | US        |   5365000 | PA      | $5013592.50   | 0.17%             | 2028-04-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Jersey Central Power & Light Co.                               | Jersey Central Power & Light Co.                                                         | CUSIP: 476556DD4<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |   2715000 | PA      | $2207855.40   | 0.08%             | 2032-03-01      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| PNMAC FMSR Issuer Trust                                        | PNMAC FMSR ISSUER TRUST, Series 2018-FT1, Class A                                        | CUSIP: 69346MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1980000 | PA      | $1865748.46   | 0.06%             | 2023-04-25      | Floating      | 6.39%                 | Yes           |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                                   | Drive Auto Receivables Trust, Series 2020-1, Class D                                     | CUSIP: 26208QAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2985000 | PA      | $2908971.45   | 0.10%             | 2027-05-17      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                         | Tenet Healthcare Corp.                                                                   | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    345000 | PA      | $304462.50    | 0.01%             | 2028-10-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                        | SS&C Technologies, Inc.                                                                  | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   2840000 | PA      | $2714377.03   | 0.09%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Telefonica Europe BV                                           | Telefonica Europe BV                                                                     | CUSIP: N/A<br>LEI: 7245007FZS0M65WUGP67       | Long             | DBT              | CORP              | NL        |    200000 | PA      | $206912.91    | 0.01%             | 2022-12-27      | Variable      | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                       | Angel Oak Mortgage Trust, Series 2020-1, Class A1                                        | CUSIP: 03464RAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    617265 | PA      | $576030.30    | 0.02%             | 2059-12-25      | Variable      | 2.47%                 | 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      | $-1454.07     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                                | Moran Foods LLC, 1st Lien Term Loan                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     56227 | PA      | $45168.61     | 0.00%             | 2038-12-31      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Bausch Health Americas, Inc.                                   | Bausch Health Americas, Inc.                                                             | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |    298000 | PA      | $143074.44    | 0.00%             | 2027-01-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| ZF Europe Finance BV                                           | ZF Europe Finance BV                                                                     | CUSIP: N/A<br>LEI: 549300RI533US2G6G542       | Long             | DBT              | CORP              | NL        |   2400000 | PA      | $2213006.58   | 0.08%             | 2026-02-23      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                           | BANK, Series 2020-BN25, Class XA                                                         | CUSIP: 06539WBC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  32353382 | PA      | $1518033.65   | 0.05%             | 2063-01-15      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Gannett Holdings LLC                                           | Gannett Holdings LLC                                                                     | CUSIP: 36474GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    410000 | PA      | $325953.59    | 0.01%             | 2026-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Pactiv Evergreen Group Issuer, Inc.                            | Pactiv Evergreen Group Issuer, Inc.                                                      | CUSIP: 76174LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1735000 | PA      | $1524848.13   | 0.05%             | 2027-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| SES SA                                                         | SES SA                                                                                   | CUSIP: N/A<br>LEI: 5493008JPA4HYMH1HX51       | Long             | DBT              | CORP              | LU        |   2200000 | PA      | $1829395.63   | 0.06%             | 2026-05-27      | Variable      | 2.87%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                 | Morgan Stanley Capital I Trust, Series 2015-MS1, Class B                                 | CUSIP: 61765DAX6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    470000 | PA      | $434400.04    | 0.01%             | 2048-05-15      | Variable      | 4.16%                 | No            |                  3 | On Loan: No      |
| Pebblebrook Hotel Trust                                        | Pebblebrook Hotel Trust                                                                  | CUSIP: 70509VAA8<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | DBT              | CORP              | US        |   3432000 | PA      | $3088800.00   | 0.11%             | 2026-12-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                           | Glencore Funding LLC                                                                     | CUSIP: 378272BE7<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $6176484.45   | 0.21%             | 2031-04-27      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| Iliad Holding SASU                                             | Iliad Holding SASU                                                                       | CUSIP: N/A<br>LEI: 9695009PXA7OI9NXN582       | Long             | DBT              | CORP              | FR        |   1860000 | PA      | $1807260.98   | 0.06%             | 2028-10-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                            | Herc Holdings, Inc.                                                                      | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   3535000 | PA      | $3341388.05   | 0.11%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| International Consolidated Airlines Group SA                   | International Consolidated Airlines Group SA                                             | CUSIP: N/A<br>LEI: 959800TZHQRUSH1ESL13       | Long             | DBT              | CORP              | ES        |    500000 | PA      | $407785.13    | 0.01%             | 2029-03-25      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Danske Bank A/S                                                | Danske Bank A/S                                                                          | CUSIP: 23636ABD2<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |   1306000 | PA      | $1257334.86   | 0.04%             | 2025-03-28      | Variable      | 3.77%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3930000 | PA      | $3293210.19   | 0.11%             | 2031-01-22      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| ARD Finance SA                                                 | ARD Finance SA                                                                           | CUSIP: N/A<br>LEI: 6354006P6QPGGPVJW880       | Long             | DBT              | CORP              | LU        |    943299 | PA      | $688521.55    | 0.02%             | 2027-06-30      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                                      | HCA, Inc.                                                                                | CUSIP: 404119CC1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   4335000 | PA      | $3385550.08   | 0.12%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                        | Hyundai Capital America                                                                  | CUSIP: 44891ABS5<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1243327.80   | 0.04%             | 2026-01-08      | Fixed         | 1.30%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2012-93, Class SE                                                    | CUSIP: 3136A8EX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1658690 | PA      | $173345.72    | 0.01%             | 2042-09-25      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K739, Class X1          | CUSIP: 3137F64R5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  38579279 | PA      | $1694691.26   | 0.06%             | 2027-09-25      | Variable      | 1.32%                 | No            |                  2 | On Loan: No      |
| Par Pharmaceutical, Inc.                                       | Par Pharmaceutical, Inc.                                                                 | CUSIP: 69888XAA7<br>LEI: 549300KK5WR4MGN4YT97 | Long             | DBT              | CORP              | US        |    248000 | PA      | $186620.00    | 0.01%             | 2027-04-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Staples, Inc.                                                  | Staples, Inc.                                                                            | CUSIP: 855030AN2<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   3065000 | PA      | $2734393.78   | 0.09%             | 2026-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                  | Six Flags Entertainment Corp.                                                            | CUSIP: 83001AAB8<br>LEI: 549300JYTDUAA4JQ3717 | Long             | DBT              | CORP              | US        |    625000 | PA      | $607521.88    | 0.02%             | 2024-07-31      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Heathrow Funding Ltd.                                          | Heathrow Funding Ltd.                                                                    | CUSIP: N/A<br>LEI: 7TI96JO3DYEIQWZ7Z726       | Long             | DBT              | CORP              | JE        |   1900000 | PA      | $2340601.77   | 0.08%             | 2041-05-13      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Cirsa Finance International SARL                               | Cirsa Finance International SARL                                                         | CUSIP: N/A<br>LEI: 254900KUJN6DHWH2K029       | Long             | DBT              | CORP              | LU        |   1200000 | PA      | $1186471.32   | 0.04%             | 2025-05-22      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Topgolf Callaway Brands Corp.                                  | Topgolf Callaway Brands Corp.                                                            | CUSIP: 131193AE4<br>LEI: 5493005UB0KFRKBPCU72 | Long             | DBT              | CORP              | US        |   1433000 | PA      | $1947984.38   | 0.07%             | 2026-05-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TransCanada PipeLines Ltd.                                     | TransCanada PipeLines Ltd.                                                               | CUSIP: 89352HAK5<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |   4090000 | PA      | $4034011.50   | 0.14%             | 2023-10-16      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp.                                         | Encompass Health Corp.                                                                   | CUSIP: 421924BT7<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    650000 | PA      | $643147.58    | 0.02%             | 2025-09-15      | Fixed         | 5.75%                 | 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      | $-31260.62    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                            | Rocket Mortgage LLC                                                                      | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    540000 | PA      | $434700.00    | 0.01%             | 2029-03-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Autostrade per l'Italia SpA                                    | Autostrade per l'Italia SpA                                                              | CUSIP: N/A<br>LEI: 815600149448CEB9B230       | Long             | DBT              | CORP              | IT        |    580000 | PA      | $563970.98    | 0.02%             | 2025-11-04      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| ADT Security Corp. (The)                                       | ADT Security Corp. (The)                                                                 | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |   1725000 | PA      | $1505597.25   | 0.05%             | 2029-08-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Millennium Escrow Corp.                                        | Millennium Escrow Corp.                                                                  | CUSIP: 60041CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425000 | PA      | $306000.00    | 0.01%             | 2026-08-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2270000 | PA      | $1807491.00   | 0.06%             | 2032-10-20      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                                     | Axalta Coating Systems LLC                                                               | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    470000 | PA      | $430927.41    | 0.01%             | 2027-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                                         | Howmet Aerospace, Inc.                                                                   | CUSIP: 013817AW1<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    622000 | PA      | $616324.19    | 0.02%             | 2024-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                         | Alternative Loan Trust, Series 2005-80CB, Class 5A1                                      | CUSIP: 12668BGG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1489673 | PA      | $1398144.99   | 0.05%             | 2036-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                         | Mauser Packaging Solutions Holding Co.                                                   | CUSIP: 12429TAD6<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    570000 | PA      | $562203.20    | 0.02%             | 2024-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Medtronic Global Holdings SCA                                  | Medtronic Global Holdings SCA                                                            | CUSIP: 58507LAP4<br>LEI: 549300JXMTTP8GKYIX14 | Long             | DBT              | CORP              | LU        |   1500000 | PA      | $1141751.53   | 0.04%             | 2039-07-02      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Virgin Media Vendor Financing Notes III DAC                    | Virgin Media Vendor Financing Notes III DAC                                              | CUSIP: N/A<br>LEI: 635400SSKC2QCGEPIQ43       | Long             | DBT              | CORP              | IE        |    689000 | PA      | $694851.63    | 0.02%             | 2028-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                     | JPMBB Commercial Mortgage Securities Trust, Series 2015-C30, Class C                     | CUSIP: 46644UBG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    860000 | PA      | $756775.75    | 0.03%             | 2048-07-15      | Variable      | 4.37%                 | No            |                  3 | On Loan: No      |
| Energizer Holdings, Inc.                                       | Energizer Holdings, Inc.                                                                 | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   2192000 | PA      | $1911292.48   | 0.07%             | 2028-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GYM0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3790000 | PA      | $3317930.87   | 0.11%             | 2027-10-21      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                                          | Global Payments, Inc.                                                                    | CUSIP: 37940XAD4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1120797.61   | 0.04%             | 2030-05-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Republic of Angola                                             | Republic of Angola                                                                       | CUSIP: 035198AF7<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   5198000 | PA      | $4645712.50   | 0.16%             | 2032-04-14      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                   | Verizon Communications, Inc.                                                             | CUSIP: 92343VGJ7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   4805000 | PA      | $4005883.00   | 0.14%             | 2031-03-21      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                             | Vodafone Group plc                                                                       | CUSIP: 92857WBS8<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |   1649000 | PA      | $1406031.33   | 0.05%             | 2049-06-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                           | Owens-Brockway Glass Container, Inc.                                                     | CUSIP: 690872AB2<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    241000 | PA      | $228565.76    | 0.01%             | 2025-01-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                     | Allison Transmission, Inc.                                                               | CUSIP: 019736AE7<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    277000 | PA      | $256854.13    | 0.01%             | 2027-10-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia SpA                                             | Telecom Italia SpA                                                                       | CUSIP: N/A<br>LEI: 549300W384M3RI3VXU42       | Long             | DBT              | CORP              | IT        |   1900000 | PA      | $1828854.51   | 0.06%             | 2025-09-30      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Douglas GmbH                                                   | Douglas GmbH                                                                             | CUSIP: N/A<br>LEI: 529900381YTPHVY9AI06       | Long             | DBT              | CORP              | DE        |   3100000 | PA      | $2668431.41   | 0.09%             | 2026-04-08      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                         | Freeport-McMoRan, Inc.                                                                   | CUSIP: 35671DBJ3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   8434000 | PA      | $7872632.96   | 0.27%             | 2034-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FREED ABS Trust                                                | FREED ABS Trust, Series 2020-FP1, Class C                                                | CUSIP: 35634TAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    538552 | PA      | $537935.99    | 0.02%             | 2027-03-18      | Fixed         | 4.37%                 | Yes           |                  3 | On Loan: No      |
| Telefonica Europe BV                                           | Telefonica Europe BV                                                                     | CUSIP: N/A<br>LEI: 7245007FZS0M65WUGP67       | Long             | DBT              | CORP              | NL        |   2900000 | PA      | $3014299.80   | 0.10%             | 2024-03-31      | Variable      | 5.87%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2014-35, Class KI                                                    | CUSIP: 3136AKFP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    583290 | PA      | $33274.33     | 0.00%             | 2029-06-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K108, Class X1          | CUSIP: 3137FTBP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11992796 | PA      | $1147277.60   | 0.04%             | 2030-03-25      | Variable      | 1.81%                 | No            |                  2 | On Loan: No      |
| RingCentral, Inc.                                              | RingCentral, Inc.                                                                        | CUSIP: 76680RAF4<br>LEI: 549300C8EH0H1614VE84 | Long             | DBT              | CORP              | US        |   1975000 | PA      | $1688625.00   | 0.06%             | 2025-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                              | HSBC Holdings plc                                                                        | CUSIP: 404280DQ9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  10420000 | PA      | $10881944.02  | 0.37%             | 2026-11-03      | Variable      | 7.34%                 | No            |                  2 | On Loan: No      |
| Brooks Automation                                              | Brooks Automation, 2nd Lien Term Loan                                                    | CUSIP: 02090CAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    225000 | PA      | $187875.00    | 0.01%             | 2030-02-01      | Variable      | 7.35%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                      | Republic of Cote d'Ivoire                                                                | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |   4060000 | PA      | $3588025.00   | 0.12%             | 2033-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                               | Virgin Media Secured Finance plc                                                         | CUSIP: N/A<br>LEI: 213800X3RLP4NOTPY579       | Long             | DBT              | CORP              | GB        |   2900000 | PA      | $3179885.80   | 0.11%             | 2027-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Wabash National Corp.                                          | Wabash National Corp.                                                                    | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $1944831.15   | 0.07%             | 2028-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| MEGlobal Canada ULC                                            | MEGlobal Canada ULC                                                                      | CUSIP: 58518N2B7<br>LEI: 635400MHHHT7LMKMQL03 | Long             | DBT              | CORP              | CA        |   2530000 | PA      | $2468015.00   | 0.08%             | 2025-05-18      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                                   | Intelsat Jackson Holdings SA                                                             | CUSIP: N/A<br>LEI: 8XJ8KF85PBKK1TLMFN29       | Long             |  | CORP              | LU        |      3701 | NS      | $37.01        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Envestnet, Inc.                                                | Envestnet, Inc.                                                                          | CUSIP: 29404KAE6<br>LEI: 549300HLWZ5OKIDM8737 | Long             | DBT              | CORP              | US        |    760000 | PA      | $674025.00    | 0.02%             | 2025-08-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                               | TotalEnergies SE                                                                         | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | DBT              | CORP              | FR        |   4000000 | PA      | $3948036.43   | 0.13%             | 2024-04-04      | Variable      | 1.75%                 | Yes           |                  2 | On Loan: No      |
| CenterPoint Energy, Inc.                                       | CenterPoint Energy, Inc.                                                                 | CUSIP: 15189TAX5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   5863000 | PA      | $5064918.12   | 0.17%             | 2030-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Republic of Costa Rica                                         | Republic of Costa Rica                                                                   | CUSIP: N/A<br>LEI: 549300S1EK2VN6XVJP58       | Long             | DBT              | NUSS              | CR        |   3310000 | PA      | $3202425.00   | 0.11%             | 2031-02-19      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                                      | HCA, Inc.                                                                                | CUSIP: 404121AJ4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   4770000 | PA      | $4763382.87   | 0.16%             | 2028-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                   | ING Groep NV                                                                             | CUSIP: 456837AY9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1200000 | PA      | $851611.16    | 0.03%             | 2027-05-16      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| ZF Finance GmbH                                                | ZF Finance GmbH                                                                          | CUSIP: N/A<br>LEI: 5493001N9T6QDCCXB426       | Long             | DBT              | CORP              | DE        |   2400000 | PA      | $2138453.00   | 0.07%             | 2028-09-21      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                     | Charles Schwab Corp. (The), Series I                                                     | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   2672000 | PA      | $2271200.00   | 0.08%             | 2026-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                              | Exxon Mobil Corp.                                                                        | CUSIP: 30231GAY8<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |   3735000 | PA      | $2926065.15   | 0.10%             | 2039-08-16      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                               | Deutsche Bank AG                                                                         | CUSIP: 251526CC1<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |  10770000 | PA      | $10332758.03  | 0.35%             | 2024-09-18      | Variable      | 2.22%                 | No            |                  2 | On Loan: No      |
| Punch Finance plc                                              | Punch Finance plc                                                                        | CUSIP: N/A<br>LEI: 2138006IJRIU1Q5DN388       | Long             | DBT              | CORP              | GB        |   1486000 | PA      | $1522351.28   | 0.05%             | 2026-06-30      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                              | Wells Fargo & Co.                                                                        | CUSIP: 95000U2A0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3320000 | PA      | $3080616.65   | 0.11%             | 2028-05-22      | Variable      | 3.58%                 | No            |                  2 | On Loan: No      |
| BHG Securitization Trust                                       | BHG Securitization Trust, Series 2021-B, Class A                                         | CUSIP: 08862BAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    703549 | PA      | $660492.19    | 0.02%             | 2034-10-17      | Fixed         | 0.90%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                        | RHP Hotel Properties LP                                                                  | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    755000 | PA      | $660305.98    | 0.02%             | 2029-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Microchip Technology, Inc.                                     | Microchip Technology, Inc.                                                               | CUSIP: 595017AF1<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $2299203.13   | 0.08%             | 2027-02-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Presidio Holdings, Inc.                                        | Presidio Holdings, Inc.                                                                  | CUSIP: 74101XAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3906000 | PA      | $3645196.38   | 0.12%             | 2027-02-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                          | Spectrum Brands, Inc.                                                                    | CUSIP: 84762LAW5<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   2031000 | PA      | $1739307.78   | 0.06%             | 2030-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                              | Wells Fargo & Co.                                                                        | CUSIP: 95000U2J1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4205000 | PA      | $3518280.78   | 0.12%             | 2031-02-11      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Nexi SpA                                                       | Nexi SpA                                                                                 | CUSIP: N/A<br>LEI: 5493000P70CQRQG8SN85       | Long             | DBT              | CORP              | IT        |    597000 | PA      | $558337.84    | 0.02%             | 2026-04-30      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | Euro-Bobl                                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |     -1359 | NC      | $2934480.76   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Conduent Business Services LLC                                 | Conduent Business Services LLC                                                           | CUSIP: 20679LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1540000 | PA      | $1262800.00   | 0.04%             | 2029-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| MGM Resorts International                                      | MGM Resorts International                                                                | CUSIP: 552953CG4<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   2885000 | PA      | $2871239.99   | 0.10%             | 2025-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NMG, Inc.                                                      | NMG, Inc.                                                                                | CUSIP: 62929P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1556 | NS      | $276190.00    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K052, Class X3          | CUSIP: 3137BMTZ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  15770000 | PA      | $644761.18    | 0.02%             | 2044-01-25      | Variable      | 1.67%                 | No            |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust                                 | HarborView Mortgage Loan Trust, Series 2007-6, Class 2A1A                                | CUSIP: 41165BAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    105977 | PA      | $89765.89     | 0.00%             | 2037-08-19      | Floating      | 4.13%                 | No            |                  2 | On Loan: No      |
| ZF Finance GmbH                                                | ZF Finance GmbH                                                                          | CUSIP: N/A<br>LEI: 5493001N9T6QDCCXB426       | Long             | DBT              | CORP              | DE        |    500000 | PA      | $423844.71    | 0.01%             | 2028-05-03      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2017-KF36, Class B                                          | CUSIP: 30305DAA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    527344 | PA      | $526053.09    | 0.02%             | 2024-08-25      | Floating      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                     | Avis Budget Car Rental LLC                                                               | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    264000 | PA      | $244175.98    | 0.01%             | 2027-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Canada                                                         | Canada Government Bond                                                                   | CUSIP: 135087A61<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |  33357000 | PA      | $24459237.54  | 0.84%             | 2023-06-01      | Fixed         | 1.50%                 | 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      | $58591.72     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BigCommerce Holdings, Inc.                                     | BigCommerce Holdings, Inc.                                                               | CUSIP: 08975PAB4<br>LEI: 549300MOVEFQ78DMPG58 | Long             | DBT              | CORP              | US        |   6136000 | PA      | $4331456.58   | 0.15%             | 2026-10-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Autostrade per l'Italia SpA                                    | Autostrade per l'Italia SpA                                                              | CUSIP: N/A<br>LEI: 815600149448CEB9B230       | Long             | DBT              | CORP              | IT        |   1500000 | PA      | $1315907.50   | 0.04%             | 2028-12-04      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Berkshire Hathaway Energy Co.                                  | Berkshire Hathaway Energy Co.                                                            | CUSIP: 084659BE0<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    512000 | PA      | $463324.63    | 0.02%             | 2053-05-01      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: N/A<br>LEI: UDSQCVRUX5BONN0VY111       | Long             | DBT              | CORP              | US        |    100000 | PA      | $113745.47    | 0.00%             | 2024-06-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                             | Energy Transfer LP                                                                       | CUSIP: 86765BAQ2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2010000 | PA      | $1729037.48   | 0.06%             | 2045-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                               | CVS Health Corp.                                                                         | CUSIP: 126650DR8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1182882.14   | 0.04%             | 2031-09-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                    | Toronto-Dominion Bank (The)                                                              | CUSIP: 89115A2C5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   9410000 | PA      | $9086689.81   | 0.31%             | 2027-06-08      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                       | Republic of South Africa                                                                 | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   2140000 | PA      | $1626400.00   | 0.06%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Gray Television, Inc.                                          | Gray Television, Inc.                                                                    | CUSIP: 389284AA8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    373000 | PA      | $342757.16    | 0.01%             | 2027-05-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| DP World Crescent Ltd.                                         | DP World Crescent Ltd.                                                                   | CUSIP: N/A<br>LEI: 21380096JRTWB8TL9236       | Long             | DBT              | CORP              | KY        |   2490000 | PA      | $2430862.50   | 0.08%             | 2028-09-26      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara      | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara                                | CUSIP: 71568QAC1<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | NUSS              | ID        |    610000 | PA      | $573705.00    | 0.02%             | 2027-05-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4324, Class AI                                                      | CUSIP: 3137BAGF3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    178933 | PA      | $6159.78      | 0.00%             | 2028-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Lyft, Inc.                                                     | Lyft, Inc.                                                                               | CUSIP: 55087PAB0<br>LEI: 549300H7I5VN334XVZ52 | Long             | DBT              | CORP              | US        |   4465000 | PA      | $3868922.50   | 0.13%             | 2025-05-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| INEOS Styrolution Group GmbH                                   | INEOS Styrolution Group GmbH                                                             | CUSIP: N/A<br>LEI: 5299003M4PGUGL48LS74       | Long             | DBT              | CORP              | DE        |   1023000 | PA      | $890116.33    | 0.03%             | 2027-01-16      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                              | HSBC Holdings plc                                                                        | CUSIP: 404280CC1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1981000 | PA      | $1731760.07   | 0.06%             | 2030-05-22      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Pure Fishing, Inc.                                             | Pure Fishing, Inc., 1st Lien Term Loan                                                   | CUSIP: 78471PAB6<br>LEI: 549300U8UI4Y1KEUGM58 | Long             | LON              | CORP              | US        |   2457927 | PA      | $1669645.40   | 0.06%             | 2025-12-22      | Variable      | 8.57%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                        | RHP Hotel Properties LP                                                                  | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3624000 | PA      | $3310333.74   | 0.11%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                              | Wells Fargo & Co.                                                                        | CUSIP: 95000U2F9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   7030000 | PA      | $6543946.36   | 0.22%             | 2027-06-17      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                   | Tallgrass Energy Partners LP                                                             | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1336875.00   | 0.05%             | 2031-09-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                            | American Axle & Manufacturing, Inc.                                                      | CUSIP: 02406PBA7<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    885000 | PA      | $852255.00    | 0.03%             | 2028-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Tempur Sealy International, Inc.                               | Tempur Sealy International, Inc.                                                         | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |   3965000 | PA      | $3287274.80   | 0.11%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Ziggo Bond Co. BV                                              | Ziggo Bond Co. BV                                                                        | CUSIP: N/A<br>LEI: 213800JYI4P7V5QDOG59       | Long             | DBT              | CORP              | NL        |   3124000 | PA      | $2482824.79   | 0.08%             | 2030-02-28      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| ANGI Group LLC                                                 | ANGI Group LLC                                                                           | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3028000 | PA      | $2274785.00   | 0.08%             | 2028-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Griffon Corp.                                                  | Griffon Corp.                                                                            | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |   2055000 | PA      | $1911458.25   | 0.07%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K033, Class X1          | CUSIP: 3137B4WC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  62720493 | PA      | $78507.24     | 0.00%             | 2023-07-25      | Variable      | 0.40%                 | 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      | $104889.61    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                                       | SBA Communications Corp.                                                                 | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1218890.94   | 0.04%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Autostrade per l'Italia SpA                                    | Autostrade per l'Italia SpA                                                              | CUSIP: N/A<br>LEI: 815600149448CEB9B230       | Long             | DBT              | CORP              | IT        |   2800000 | PA      | $2583284.73   | 0.09%             | 2027-02-01      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Rolls-Royce plc                                                | Rolls-Royce plc                                                                          | CUSIP: N/A<br>LEI: X57JK1U580XATGR67572       | Long             | DBT              | CORP              | GB        |    970000 | PA      | $1058028.71   | 0.04%             | 2027-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                              | Wells Fargo & Co.                                                                        | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4820000 | PA      | $4477278.96   | 0.15%             | 2028-03-24      | Variable      | 3.53%                 | No            |                  2 | On Loan: No      |
| Evergy Metro, Inc.                                             | Evergy Metro, Inc., Series 2020                                                          | CUSIP: 30037DAA3<br>LEI: 1128SIJQ26096WL7IO82 | Long             | DBT              | CORP              | US        |   1974000 | PA      | $1639846.49   | 0.06%             | 2030-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Dell International LLC                                         | Dell International LLC                                                                   | CUSIP: 24703TAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10995000 | PA      | $11228701.91  | 0.38%             | 2026-06-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                           | American Tower Corp.                                                                     | CUSIP: 03027XBC3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   6470000 | PA      | $5197338.12   | 0.18%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| New Albertsons LP                                              | New Albertsons LP                                                                        | CUSIP: 013104AL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    480000 | PA      | $496800.00    | 0.02%             | 2031-05-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                              | Clarios Global LP                                                                        | CUSIP: 69867DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    764000 | PA      | $756841.32    | 0.03%             | 2026-05-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Elis SA                                                        | Elis SA                                                                                  | CUSIP: N/A<br>LEI: 969500UX71LCE8MAY492       | Long             | DBT              | CORP              | FR        |   2300000 | PA      | $2297678.33   | 0.08%             | 2026-02-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                         | Alternative Loan Trust, Series 2005-6CB, Class 1A6                                       | CUSIP: 12667F5H4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     42570 | PA      | $36091.04     | 0.00%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                              | GLS Auto Receivables Issuer Trust, Series 2022-3A, Class C                               | CUSIP: 38014QAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    683000 | PA      | $662757.66    | 0.02%             | 2028-06-15      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | CDI                                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |  48000000 | PA      | $-1339564.26  | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of the Philippines                                    | Republic of Philippines                                                                  | CUSIP: 718286CH8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   5550000 | PA      | $3968860.50   | 0.14%             | 2045-05-05      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                               | Marriott Ownership Resorts, Inc.                                                         | CUSIP: 57164PAF3<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13158.46     | 0.00%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                   | Trivium Packaging Finance BV                                                             | CUSIP: 89686QAB2<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $187244.87    | 0.01%             | 2027-08-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 61772BAA1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   5345000 | PA      | $5238918.91   | 0.18%             | 2024-04-05      | Variable      | 0.73%                 | No            |                  2 | On Loan: No      |
| Alcoa Nederland Holding BV                                     | Alcoa Nederland Holding BV                                                               | CUSIP: 013822AE1<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |   1956000 | PA      | $1875002.04   | 0.06%             | 2027-12-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Alfa Desarrollo SpA                                            | Alfa Desarrollo SpA                                                                      | CUSIP: 01538TAA3<br>LEI: 2549006BJAN34R520038 | Long             | DBT              | CORP              | CL        |   4507508 | PA      | $3281916.89   | 0.11%             | 2051-09-27      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| Vallourec SA                                                   | Vallourec SA                                                                             | CUSIP: N/A<br>LEI: 969500P2Q1B47H4MCJ34       | Long             | DBT              | CORP              | FR        |    600000 | PA      | $619872.11    | 0.02%             | 2026-06-30      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2017-KF40, Class B                                          | CUSIP: 30306JAG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    537280 | PA      | $529656.66    | 0.02%             | 2027-11-25      | Floating      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                     | iHeartCommunications, Inc.                                                               | CUSIP: 45174HBD8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   2727715 | PA      | $2427666.35   | 0.08%             | 2027-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Wesco Aircraft Holdings, Inc.                                  | Wesco Aircraft Holdings, Inc.                                                            | CUSIP: 97789LAB2<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |   1254000 | PA      | $796290.00    | 0.03%             | 2026-11-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, STRIPS, Series 410, Class C12                                                      | CUSIP: 31395QCX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20649 | PA      | $313.47       | 0.00%             | 2024-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Antero Resources Corp.                                         | Antero Resources Corp.                                                                   | CUSIP: 03674XAQ9<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |    913000 | PA      | $931571.64    | 0.03%             | 2029-02-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| NXP BV                                                         | NXP BV                                                                                   | CUSIP: 62954HAU2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4080000 | PA      | $2885070.00   | 0.10%             | 2041-05-11      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| La Financiere Atalian SASU                                     | La Financiere Atalian SASU                                                               | CUSIP: N/A<br>LEI: 969500ICOLJMB33J0L87       | Long             | DBT              | CORP              | FR        |   1116000 | PA      | $992919.72    | 0.03%             | 2025-05-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2016-39, Class LS                                                    | CUSIP: 3136ASU38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   9698893 | PA      | $1266154.59   | 0.04%             | 2046-07-25      | Floating      | 1.98%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                         | Tenet Healthcare Corp.                                                                   | CUSIP: 88033GDC1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     89000 | PA      | $87131.00     | 0.00%             | 2024-09-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Triton Water Holdings, Inc.                                    | Triton Water Holdings, Inc., 1st Lien Term Loan B                                        | CUSIP: 89678QAB2<br>LEI: 5493005IYCEL7QJFZZ63 | Long             | LON              | CORP              | US        |    330357 | PA      | $303928.65    | 0.01%             | 2028-03-31      | Variable      | 7.17%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4280, Class KI                                                      | CUSIP: 3137B6J93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    153663 | PA      | $2891.88      | 0.00%             | 2031-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PrimeSource                                                    | PrimeSource, 1st Lien Term Loan B                                                        | CUSIP: 70082HAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1020448 | PA      | $883963.32    | 0.03%             | 2027-12-28      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| Banijay Entertainment SASU                                     | Banijay Entertainment SASU                                                               | CUSIP: N/A<br>LEI: 969500CE0IE2EZ5VBG13       | Long             | DBT              | CORP              | FR        |   1249000 | PA      | $1232202.50   | 0.04%             | 2025-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 61744YAL2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3985000 | PA      | $3392752.97   | 0.12%             | 2038-07-22      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                                       | Electricite de France SA                                                                 | CUSIP: N/A<br>LEI: 549300X3UK4GG3FNMO06       | Long             | DBT              | NUSS              | FR        |   1000000 | PA      | $863698.01    | 0.03%             | 2026-12-15      | Variable      | 2.87%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                    | IQVIA, Inc.                                                                              | CUSIP: N/A<br>LEI: 549300PLWY28YB00C717       | Long             | DBT              | CORP              | US        |    325000 | PA      | $327000.07    | 0.01%             | 2025-09-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | U.S. Treasury 5 Year Note                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      1140 | NC      | $843813.18    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                   | Avolon Holdings Funding Ltd.                                                             | CUSIP: 05401AAR2<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    796000 | PA      | $643840.62    | 0.02%             | 2027-11-18      | Fixed         | 2.53%                 | Yes           |                  2 | On Loan: No      |
| Coty, Inc.                                                     | Coty, Inc.                                                                               | CUSIP: 222070AE4<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1025851.80   | 0.04%             | 2026-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Black Knight InfoServ LLC                                      | Black Knight InfoServ LLC                                                                | CUSIP: 092174AA9<br>LEI: 549300H5PS5C68DAUX66 | Long             | DBT              | CORP              | US        |   1673000 | PA      | $1504646.01   | 0.05%             | 2028-09-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| DCP Midstream Operating LP                                     | DCP Midstream Operating LP                                                               | CUSIP: 23311VAD9<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    580000 | PA      | $576984.00    | 0.02%             | 2023-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp.                                           | Sprint Capital Corp.                                                                     | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1686000 | PA      | $2015865.90   | 0.07%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                       | Republic of South Africa                                                                 | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   4640000 | PA      | $3526400.00   | 0.12%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Affirm Asset Securitization Trust                              | Affirm Asset Securitization Trust, Series 2022-A, Class 1A                               | CUSIP: 00834WAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3304000 | PA      | $3131055.09   | 0.11%             | 2027-05-17      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Atlantia SpA                                                   | Atlantia SpA                                                                             | CUSIP: N/A<br>LEI: 8156008DEC771409C487       | Long             | DBT              | CORP              | IT        |    800000 | PA      | $686796.01    | 0.02%             | 2028-02-12      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| Autostrade per l'Italia SpA                                    | Autostrade per l'Italia SpA                                                              | CUSIP: N/A<br>LEI: 815600149448CEB9B230       | Long             | DBT              | CORP              | IT        |   1075000 | PA      | $1016490.35   | 0.03%             | 2026-06-26      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                       | Bausch Health Cos., Inc.                                                                 | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1480000 | PA      | $906648.00    | 0.03%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Vale Overseas Ltd.                                             | Vale Overseas Ltd.                                                                       | CUSIP: 91911TAQ6<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |   3038000 | PA      | $2646857.50   | 0.09%             | 2030-07-08      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4120, Class UI                                                      | CUSIP: 3137AVHL4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    297114 | PA      | $10902.17     | 0.00%             | 2027-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Dell International LLC                                         | Dell International LLC                                                                   | CUSIP: 24703TAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3780000 | PA      | $3860345.00   | 0.13%             | 2026-06-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Co.                                        | Southwestern Energy Co.                                                                  | CUSIP: 845467AL3<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     21000 | PA      | $20790.00     | 0.00%             | 2025-01-23      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                       | Lumen Technologies, Inc., Series G                                                       | CUSIP: 156686AM9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    184000 | PA      | $147895.52    | 0.01%             | 2028-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                    | Federal Republic of Nigeria                                                              | CUSIP: 65412JAS2<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   3770000 | PA      | $2747387.50   | 0.09%             | 2033-09-28      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                 | DISH DBS Corp.                                                                           | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    755000 | PA      | $612342.75    | 0.02%             | 2028-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TK Elevator Midco GmbH                                         | TK Elevator Midco GmbH                                                                   | CUSIP: N/A<br>LEI: 254900K869UN2ZWVB351       | Long             | DBT              | CORP              | DE        |    600000 | PA      | $548543.97    | 0.02%             | 2027-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                                  | Organon & Co.                                                                            | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2591942.40   | 0.09%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Southern Co. Gas Capital Corp.                                 | Southern Co. Gas Capital Corp.                                                           | CUSIP: 8426EPAF5<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |   2350000 | PA      | $2322227.04   | 0.08%             | 2032-09-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Arconic Corp.                                                  | Arconic Corp.                                                                            | CUSIP: 03966VAB3<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1462621.70   | 0.05%             | 2025-05-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 6174468J1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2015000 | PA      | $1922286.36   | 0.07%             | 2025-07-22      | Variable      | 2.72%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Opportunities X Ltd.                           | GoldenTree Loan Opportunities X Ltd., Series 2015-10A, Class AR                          | CUSIP: 38137PAQ3<br>LEI: 549300IGEA8MXF2YEF61 | Long             | ABS-CBDO         | CORP              | KY        |   4800000 | PA      | $4742184.00   | 0.16%             | 2031-07-20      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K071, Class X3          | CUSIP: 3137FCLG7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  19450000 | PA      | $1593028.91   | 0.05%             | 2045-11-25      | Variable      | 2.08%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                               | CCO Holdings LLC                                                                         | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1498000 | PA      | $1359390.06   | 0.05%             | 2029-06-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| WP Carey, Inc.                                                 | WP Carey, Inc.                                                                           | CUSIP: 92936UAG4<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |    580000 | PA      | $461173.79    | 0.02%             | 2031-02-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: 345397XU2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $475565.00    | 0.02%             | 2026-01-08      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| Santander Revolving Auto Loan Trust                            | Santander Revolving Auto Loan Trust, Series 2019-A, Class C                              | CUSIP: 80286JAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2960000 | PA      | $2735054.21   | 0.09%             | 2032-01-26      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| PLT VII Finance SARL                                           | PLT VII Finance SARL                                                                     | CUSIP: N/A<br>LEI: 894500SKZV4JDP64R249       | Long             | DBT              | CORP              | LU        |   1600000 | PA      | $1559434.85   | 0.05%             | 2026-01-05      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4073, Class IQ                                                      | CUSIP: 3137ARXB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    139427 | PA      | $21043.20     | 0.00%             | 2042-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                   | Antero Midstream Partners LP                                                             | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $382837.50    | 0.01%             | 2029-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                      | EQM Midstream Partners LP                                                                | CUSIP: 26885BAA8<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    347000 | PA      | $331385.00    | 0.01%             | 2024-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CPUK Finance Ltd.                                              | CPUK Finance Ltd.                                                                        | CUSIP: N/A<br>LEI: 6354003CVDDPNXREIR29       | Long             | DBT              | CORP              | JE        |    500000 | PA      | $544110.11    | 0.02%             | 2025-08-28      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 6174468P7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3908000 | PA      | $3482645.35   | 0.12%             | 2031-04-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, STRIPS, Series 401, Class C6                                                       | CUSIP: 3136FGE78<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    163208 | PA      | $6163.24      | 0.00%             | 2029-10-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                             | Sultanate of Oman Government Bond                                                        | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |   3200000 | PA      | $3132000.00   | 0.11%             | 2028-01-17      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Caesars Resort Collection LLC                                  | Caesars Resort Collection LLC                                                            | CUSIP: 12770RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    467000 | PA      | $461328.29    | 0.02%             | 2025-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Vodafone Group plc                                             | Vodafone Group plc                                                                       | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | DBT              | CORP              | GB        |   2900000 | PA      | $2432370.89   | 0.08%             | 2080-08-27      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Kazakhstan                                         | Republic of Kazakhstan                                                                   | CUSIP: N/A<br>LEI: 5493007OEK8EF02UO833       | Long             | DBT              | NUSS              | KZ        |   3472000 | PA      | $2556171.48   | 0.09%             | 2034-09-30      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| TeamSystem SpA                                                 | TeamSystem SpA                                                                           | CUSIP: N/A<br>LEI: 81560062081DF3AB7A90       | Long             | DBT              | CORP              | IT        |   1568000 | PA      | $1370595.08   | 0.05%             | 2028-02-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2012-120, Class DI                                                   | CUSIP: 3136A9K98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     34774 | PA      | $251.68       | 0.00%             | 2031-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Faurecia SE                                                    | Faurecia SE                                                                              | CUSIP: N/A<br>LEI: 969500F0VMZLK2IULV85       | Long             | DBT              | CORP              | FR        |   1850000 | PA      | $1749682.44   | 0.06%             | 2026-06-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2017-9                                                                      | CUSIP: 38379U4L7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5458810 | PA      | $202238.01    | 0.01%             | 2057-01-16      | Variable      | 0.65%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                                     | PG&E Corp.                                                                               | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   2865000 | PA      | $2643277.65   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                             | Cinemark USA, Inc.                                                                       | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    835000 | PA      | $666956.25    | 0.02%             | 2028-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Chemours Co. (The)                                             | Chemours Co. (The)                                                                       | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    160000 | PA      | $144800.00    | 0.00%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Devon Energy Corp.                                             | Devon Energy Corp.                                                                       | CUSIP: 25179MBE2<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    439000 | PA      | $439139.76    | 0.01%             | 2028-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| eG Global Finance plc                                          | eG Global Finance plc                                                                    | CUSIP: N/A<br>LEI: 549300TL8Q5207VYET27       | Long             | DBT              | CORP              | GB        |    350000 | PA      | $333748.21    | 0.01%             | 2024-02-07      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                | Live Nation Entertainment, Inc.                                                          | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    610000 | PA      | $534421.00    | 0.02%             | 2028-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                   | Avolon Holdings Funding Ltd.                                                             | CUSIP: 05401AAF8<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   2337000 | PA      | $2225631.88   | 0.08%             | 2024-07-01      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | OIS                                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        | 235677996 | PA      | $-960036.42   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp.                                         | ON Semiconductor Corp.                                                                   | CUSIP: 682189AS4<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |   6061000 | PA      | $9279391.00   | 0.32%             | 2027-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 5072, Class DI                                                      | CUSIP: 3137F96Q9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  12405732 | PA      | $2317004.90   | 0.08%             | 2051-02-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NGL Energy Operating LLC                                       | NGL Energy Operating LLC                                                                 | CUSIP: 62922LAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    562000 | PA      | $507607.84    | 0.02%             | 2026-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                           | Republic of Colombia                                                                     | CUSIP: 195325DS1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   5580000 | PA      | $4129200.00   | 0.14%             | 2031-04-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| State of Qatar                                                 | State of Qatar                                                                           | CUSIP: N/A<br>LEI: 52990074F6OJOAXK4P65       | Long             | DBT              | NUSS              | QA        |   5270000 | PA      | $5270000.00   | 0.18%             | 2048-04-23      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Enel Finance International NV                                  | Enel Finance International NV                                                            | CUSIP: 29278GAN8<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   4745000 | PA      | $3812048.44   | 0.13%             | 2028-07-12      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                               | CCO Holdings LLC                                                                         | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1369062.50   | 0.05%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Park Aerospace Holdings Ltd.                                   | Park Aerospace Holdings Ltd.                                                             | CUSIP: 70014LAB6<br>LEI: 635400CPI3EOIFF6OC33 | Long             | DBT              | CORP              | KY        |    280000 | PA      | $275881.51    | 0.01%             | 2024-02-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp.                                                    | Hertz Corp., Escrow                                                                      | CUSIP: 428ESCAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    685000 | PA      | $58225.00     | 0.00%             | 2028-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                       | WESCO Distribution, Inc.                                                                 | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    950000 | PA      | $961875.00    | 0.03%             | 2025-06-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2019-42, Class SJ                                                           | CUSIP: 38381TF59<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2569022 | PA      | $271432.82    | 0.01%             | 2049-04-20      | Floating      | 2.11%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc., Series W                                                                | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4621000 | PA      | $4003894.93   | 0.14%             | 2025-12-10      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NGG Finance plc                                                | NGG Finance plc                                                                          | CUSIP: N/A<br>LEI: 549300MLDJ2T68G21W86       | Long             | DBT              | CORP              | GB        |   2534000 | PA      | $2182545.92   | 0.07%             | 2082-09-05      | Variable      | 2.13%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    785000 | PA      | $738755.65    | 0.03%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| AI Candelaria Spain SA                                         | AI Candelaria Spain SA                                                                   | CUSIP: 00870WAA4<br>LEI: 213800L5KA2MJ5FKRZ02 | Long             | DBT              | CORP              | ES        |   1869000 | PA      | $1359697.50   | 0.05%             | 2033-06-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                            | Petroleos Mexicanos                                                                      | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |  15830000 | PA      | $11837674.00  | 0.40%             | 2031-01-28      | Fixed         | 5.95%                 | 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      | $630.94       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                              | HSBC Holdings plc                                                                        | CUSIP: 404280CG2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2318000 | PA      | $2101399.22   | 0.07%             | 2026-06-04      | Variable      | 2.10%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2018-KF45, Class B                                          | CUSIP: 30296TAG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    213636 | PA      | $209203.52    | 0.01%             | 2025-03-25      | Floating      | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Glencore Funding LLC                                           | Glencore Funding LLC                                                                     | CUSIP: 378272BG2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   4594000 | PA      | $3657416.76   | 0.12%             | 2031-09-23      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K729, Class X3          | CUSIP: 3137FCM76<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7055338 | PA      | $224917.83    | 0.01%             | 2044-11-25      | Variable      | 2.03%                 | No            |                  2 | On Loan: No      |
| Cheplapharm Arzneimittel GmbH                                  | Cheplapharm Arzneimittel GmbH                                                            | CUSIP: N/A<br>LEI: 529900ONXKBELT7EW052       | Long             | DBT              | CORP              | DE        |   3020000 | PA      | $2812197.80   | 0.10%             | 2027-02-11      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Romania                                                        | Romania Government Bond                                                                  | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |   3467000 | PA      | $2707624.05   | 0.09%             | 2049-04-03      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Pilgrim's Pride Corp.                                          | Pilgrim's Pride Corp.                                                                    | CUSIP: 72147KAE8<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    305000 | PA      | $301401.00    | 0.01%             | 2027-09-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Norfolk Southern Corp.                                         | Norfolk Southern Corp.                                                                   | CUSIP: 655844CP1<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1713765.14   | 0.06%             | 2053-06-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Kilroy Realty LP                                               | Kilroy Realty LP                                                                         | CUSIP: 49427RAQ5<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |   3333000 | PA      | $2412551.25   | 0.08%             | 2032-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Vallourec SA                                                   | Vallourec SA, Series IAI                                                                 | CUSIP: N/A<br>LEI: 969500P2Q1B47H4MCJ34       | Long             | DBT              | CORP              | FR        |    526825 | PA      | $544273.53    | 0.02%             | 2026-06-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                   | Antero Midstream Partners LP                                                             | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1015000 | PA      | $959175.00    | 0.03%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                         | Alternative Loan Trust, Series 2005-21CB, Class A17                                      | CUSIP: 12667GKS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    696986 | PA      | $556230.84    | 0.02%             | 2035-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANK                                                           | BANK, Series 2019-BN20, Class XA                                                         | CUSIP: 06540AAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7658498 | PA      | $322922.09    | 0.01%             | 2062-09-15      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| N/A                                                            | Euro-Schatz                                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        11 | NC      | $-13171.01    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SART                                                           | SART                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |    990750 | PA      | $969449.32    | 0.03%             | 2024-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                               | Altice France SA                                                                         | CUSIP: N/A<br>LEI: 5493001ZMCICV4N02J21       | Long             | DBT              | CORP              | FR        |    595000 | PA      | $489883.21    | 0.02%             | 2029-01-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                            | Societe Generale SA                                                                      | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1735000 | PA      | $1780543.75   | 0.06%             | 2027-11-22      | Variable      | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Audacy Capital Corp.                                           | Audacy Capital Corp.                                                                     | CUSIP: 29365DAA7<br>LEI: 549300S5JUSXRHNCHD80 | Long             | DBT              | CORP              | US        |    416000 | PA      | $105955.20    | 0.00%             | 2027-05-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                            | Rocket Mortgage LLC                                                                      | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    435000 | PA      | $319725.00    | 0.01%             | 2033-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Altice France Holding SA                                       | Altice France Holding SA                                                                 | CUSIP: N/A<br>LEI: 5299000JVHXKJPOE6H40       | Long             | DBT              | CORP              | LU        |   1200000 | PA      | $948128.13    | 0.03%             | 2027-05-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| SRS Distribution, Inc.                                         | SRS Distribution, Inc.                                                                   | CUSIP: 78471RAC0<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    745000 | PA      | $617916.76    | 0.02%             | 2029-07-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Berry Global, Inc.                                             | Berry Global, Inc.                                                                       | CUSIP: 085770AA3<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   1284000 | PA      | $1231985.16   | 0.04%             | 2026-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                         | Alternative Loan Trust, Series 2004-25CB, Class A1                                       | CUSIP: 12667FWJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1988818 | PA      | $1711157.30   | 0.06%             | 2034-12-25      | 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      | $339647.13    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Vallourec SA                                                   | Vallourec SA                                                                             | CUSIP: N/A<br>LEI: 969500P2Q1B47H4MCJ34       | Long             | EC               | CORP              | FR        |     84696 | NS      | $995896.03    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Entegris, Inc.                                                 | Entegris, Inc.                                                                           | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    200000 | PA      | $176738.09    | 0.01%             | 2028-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| 8x8, Inc.                                                      | 8x8, Inc.                                                                                | CUSIP: 282914AB6<br>LEI: 254900XWSOC5U1BRW939 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2644416.09   | 0.09%             | 2024-02-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| CaixaBank SA                                                   | CaixaBank SA                                                                             | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | DBT              | CORP              | ES        |   6400000 | PA      | $6543958.84   | 0.22%             | 2024-06-13      | Variable      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Cooper-Standard Automotive, Inc.                               | Cooper-Standard Automotive, Inc.                                                         | CUSIP: 216762AF1<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |   1345000 | PA      | $562354.48    | 0.02%             | 2026-11-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                           | Charter Communications Operating LLC                                                     | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1130000 | PA      | $750545.92    | 0.03%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                      | HCA, Inc.                                                                                | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   7187000 | PA      | $6177010.89   | 0.21%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                          | Wells Fargo Commercial Mortgage Trust, Series 2019-C49, Class C                          | CUSIP: 95001WBG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1007000 | PA      | $863238.06    | 0.03%             | 2052-03-15      | Variable      | 4.87%                 | No            |                  3 | On Loan: No      |
| Airbnb, Inc.                                                   | Airbnb, Inc.                                                                             | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |   6790000 | PA      | $5700205.00   | 0.19%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Vistra Corp.                                                   | Vistra Corp.                                                                             | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      6251 | NS      | $152086.83    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| LABL, Inc.                                                     | LABL, Inc.                                                                               | CUSIP: 50168AAB6<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   2175000 | PA      | $2077125.00   | 0.07%             | 2026-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                             | United Rentals North America, Inc.                                                       | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    815000 | PA      | $804180.88    | 0.03%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Telenet Finance Luxembourg Notes SARL                          | Telenet Finance Luxembourg Notes SARL                                                    | CUSIP: N/A<br>LEI: 2138007RI9GLJPCC3E25       | Long             | DBT              | CORP              | LU        |   2000000 | PA      | $1908980.72   | 0.07%             | 2028-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | U.S. Treasury Ultra Bond                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       430 | NC      | $633975.66    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Grifols SA                                                     | Grifols SA                                                                               | CUSIP: N/A<br>LEI: 959800HSSNXWRKBK4N60       | Long             | DBT              | CORP              | ES        |   2000000 | PA      | $1945688.92   | 0.07%             | 2025-02-15      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies BV                                        | Sensata Technologies BV                                                                  | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |   3430000 | PA      | $2985409.88   | 0.10%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2013-48                                                                     | CUSIP: 38378KFD6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  12358880 | PA      | $134773.59    | 0.00%             | 2054-07-16      | Variable      | 0.35%                 | No            |                  2 | On Loan: No      |
| Crown European Holdings SA                                     | Crown European Holdings SA                                                               | CUSIP: N/A<br>LEI: 85OKW2SW05RZFQS1W718       | Long             | DBT              | CORP              | FR        |   2350000 | PA      | $2390388.29   | 0.08%             | 2024-09-30      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse Group AG                                         | Credit Suisse Group AG                                                                   | CUSIP: 225401AC2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   6530000 | PA      | $5320723.27   | 0.18%             | 2028-01-09      | Fixed         | 4.28%                 | Yes           |                  2 | On Loan: No      |
| Volvo Car AB                                                   | Volvo Car AB                                                                             | CUSIP: N/A<br>LEI: 5299000EAMGGBEYP7J33       | Long             | DBT              | CORP              | SE        |   2200000 | PA      | $2194926.78   | 0.07%             | 2025-01-24      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                         | Tenet Healthcare Corp.                                                                   | CUSIP: 88033GCX6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3565000 | PA      | $3415091.75   | 0.12%             | 2027-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BP Capital Markets plc                                         | BP Capital Markets plc                                                                   | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   5995000 | PA      | $5274101.25   | 0.18%             | 2030-03-22      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                             | Banco Santander SA                                                                       | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   3800000 | PA      | $2947003.32   | 0.10%             | 2026-11-12      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp.                                              | Duke Energy Corp.                                                                        | CUSIP: 26441CBH7<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   3029000 | PA      | $2545414.09   | 0.09%             | 2030-06-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   8620000 | PA      | $6983401.97   | 0.24%             | 2032-04-22      | Variable      | 2.69%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                    | Federal Republic of Nigeria                                                              | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |   7357000 | PA      | $4837227.50   | 0.17%             | 2047-11-28      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Dell International LLC                                         | Dell International LLC                                                                   | CUSIP: 24703TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    370000 | PA      | $365928.39    | 0.01%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Calpine Corp.                                                  | Calpine Corp.                                                                            | CUSIP: 131347CK0<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    267000 | PA      | $255837.40    | 0.01%             | 2026-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                               | CCO Holdings LLC                                                                         | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6110000 | PA      | $5783053.90   | 0.20%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| ATI, Inc.                                                      | ATI, Inc.                                                                                | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    440000 | PA      | $375068.76    | 0.01%             | 2029-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                             | Cinemark USA, Inc.                                                                       | CUSIP: 172441BD8<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    170000 | PA      | $148860.50    | 0.01%             | 2026-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                          | Countrywide Asset-Backed Certificates, Series 2002-4, Class M1                           | CUSIP: 126671SL1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17332 | PA      | $16824.81     | 0.00%             | 2032-12-25      | Floating      | 5.17%                 | No            |                  3 | On Loan: No      |
| WR Grace Holdings LLC                                          | WR Grace Holdings LLC                                                                    | CUSIP: 92943GAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $161271.00    | 0.01%             | 2027-06-15      | Fixed         | 4.88%                 | 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      | $127909.94    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Alarm.com Holdings, Inc.                                       | Alarm.com Holdings, Inc.                                                                 | CUSIP: 011642AB1<br>LEI: 549300HIH92U1EKIHZ32 | Long             | DBT              | CORP              | US        |   4967000 | PA      | $3990477.77   | 0.14%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                        | Chesapeake Energy Corp.                                                                  | CUSIP: 165167DF1<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    330000 | PA      | $318430.78    | 0.01%             | 2026-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                          | WMG Acquisition Corp.                                                                    | CUSIP: N/A<br>LEI: 549300NAS11NXI33CP80       | Long             | DBT              | CORP              | US        |    728000 | PA      | $584455.08    | 0.02%             | 2031-08-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Discovery Communications LLC                                   | Discovery Communications LLC                                                             | CUSIP: 25470DBJ7<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    445000 | PA      | $374893.73    | 0.01%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                            | U.S. Treasury Long Bond                                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -280 | NC      | $-62639.36    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| PetIQ, Inc.                                                    | PetIQ, Inc.                                                                              | CUSIP: 71639TAB2<br>LEI: 549300GROACFGKVYOX14 | Long             | DBT              | CORP              | US        |    590000 | PA      | $510141.45    | 0.02%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hologic, Inc.                                                  | Hologic, Inc.                                                                            | CUSIP: 436440AM3<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |    210000 | PA      | $201049.80    | 0.01%             | 2028-02-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K726, Class X3          | CUSIP: 3137BYPT1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6381000 | PA      | $179100.63    | 0.01%             | 2044-07-25      | Variable      | 2.22%                 | 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      | $-73408.56    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chemours Co. (The)                                             | Chemours Co. (The)                                                                       | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    290000 | PA      | $254696.85    | 0.01%             | 2028-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Westpac Banking Corp.                                          | Westpac Banking Corp.                                                                    | CUSIP: 961214EF6<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    980000 | PA      | $836086.04    | 0.03%             | 2034-07-24      | Variable      | 4.11%                 | 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      | $-363231.38   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                              | Wells Fargo & Co., Series Z                                                              | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |     12675 | NS      | $238163.25    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Loxam SAS                                                      | Loxam SAS                                                                                | CUSIP: N/A<br>LEI: 969500BNA2YRNE1R5K91       | Long             | DBT              | CORP              | FR        |   1136000 | PA      | $1090684.50   | 0.04%             | 2027-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                          | Avantor Funding, Inc.                                                                    | CUSIP: N/A<br>LEI: 5493003VM0XB4U8YD238       | Long             | DBT              | CORP              | US        |   1435000 | PA      | $1378279.91   | 0.05%             | 2028-07-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Structured Asset Investment Loan Trust                         | Structured Asset Investment Loan Trust, Series 2003-BC10, Class A4                       | CUSIP: 86359A2G7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     24747 | PA      | $24532.71     | 0.00%             | 2033-10-25      | Floating      | 5.04%                 | No            |                  3 | On Loan: No      |
| INEOS Quattro Finance 2 plc                                    | INEOS Quattro Finance 2 plc                                                              | CUSIP: N/A<br>LEI: 213800V48W4Y5MT5Q131       | Long             | DBT              | CORP              | GB        |    454000 | PA      | $414738.96    | 0.01%             | 2026-01-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| DT Auto Owner Trust                                            | DT Auto Owner Trust, Series 2019-4A, Class D                                             | CUSIP: 23343JAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3067000 | PA      | $3024514.69   | 0.10%             | 2025-07-15      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| Republic of Angola                                             | Republic of Angola                                                                       | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |   3420000 | PA      | $3090825.00   | 0.11%             | 2029-11-26      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| TK Elevator Midco GmbH                                         | TK Elevator Midco GmbH                                                                   | CUSIP: N/A<br>LEI: 254900K869UN2ZWVB351       | Long             | DBT              | CORP              | DE        |    716000 | PA      | $654595.80    | 0.02%             | 2027-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Telefonica Europe BV                                           | Telefonica Europe BV                                                                     | CUSIP: N/A<br>LEI: 7245007FZS0M65WUGP67       | Long             | DBT              | CORP              | NL        |   3100000 | PA      | $2955694.25   | 0.10%             | 2026-06-22      | Variable      | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Vistra Corp.                                                   | Vistra Corp.                                                                             | CUSIP: N/A<br>LEI: 549300KP43CPCUJOOG15       | Long             |  | CORP              | US        |      6251 | NS      | $7970.03      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Avis Budget Car Rental LLC                                     | Avis Budget Car Rental LLC                                                               | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3070000 | PA      | $2702979.38   | 0.09%             | 2029-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                       | Avis Budget Rental Car Funding AESOP LLC, Series 2018-1A, Class C                        | CUSIP: 05377RDA9<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    680000 | PA      | $666432.84    | 0.02%             | 2024-09-20      | Fixed         | 4.73%                 | Yes           |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                     | Warnermedia Holdings, Inc.                                                               | CUSIP: 55903VAG8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   5630000 | PA      | $5130522.28   | 0.18%             | 2027-03-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                   | American Credit Acceptance Receivables Trust, Series 2022-3, Class D                     | CUSIP: 02528GAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3739000 | PA      | $3590420.37   | 0.12%             | 2028-10-13      | Fixed         | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                                   | Ardagh Packaging Finance plc                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | IE        |    985000 | PA      | $871315.95    | 0.03%             | 2026-08-15      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| Blue Racer Midstream LLC                                       | Blue Racer Midstream LLC                                                                 | CUSIP: 095796AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $389000.00    | 0.01%             | 2026-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Jamaica                                                        | Jamaica Government Bond                                                                  | CUSIP: 470160CB6<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |   1333000 | PA      | $1460301.50   | 0.05%             | 2045-07-28      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Zayo Group Holdings, Inc.                                      | Zayo Group Holdings, Inc.                                                                | CUSIP: 98919VAA3<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |   1313000 | PA      | $940462.51    | 0.03%             | 2027-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Take-Two Interactive Software, Inc.                            | Take-Two Interactive Software, Inc.                                                      | CUSIP: 874054AF6<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    590000 | PA      | $568936.98    | 0.02%             | 2025-04-14      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Silicon Laboratories, Inc.                                     | Silicon Laboratories, Inc.                                                               | CUSIP: 826919AD4<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | DBT              | CORP              | US        |   4285000 | PA      | $5642916.50   | 0.19%             | 2025-06-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software, Inc.                            | Take-Two Interactive Software, Inc.                                                      | CUSIP: 874054AG4<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |   2230000 | PA      | $2115306.24   | 0.07%             | 2027-04-14      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                                         | Keurig Dr Pepper, Inc.                                                                   | CUSIP: 49271VAQ3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   3360000 | PA      | $3089299.01   | 0.11%             | 2032-04-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                     | Aviation Capital Group LLC                                                               | CUSIP: 05369AAL5<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    205000 | PA      | $172729.44    | 0.01%             | 2026-09-20      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Emera US Finance LP                                            | Emera US Finance LP                                                                      | CUSIP: 29103DAT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6984000 | PA      | $5512858.46   | 0.19%             | 2031-06-15      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                          | Sirius XM Radio, Inc.                                                                    | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   2510000 | PA      | $2342432.40   | 0.08%             | 2027-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Sempra Energy                                                  | Sempra Energy                                                                            | CUSIP: 816851BH1<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   1865000 | PA      | $1518436.99   | 0.05%             | 2038-02-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Quatrim SASU                                                   | Quatrim SASU                                                                             | CUSIP: N/A<br>LEI: 9695009HF8DZ2EWJAN45       | Long             | DBT              | CORP              | FR        |   1050000 | PA      | $1066133.73   | 0.04%             | 2024-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Klabin Austria GmbH                                            | Klabin Austria GmbH                                                                      | CUSIP: N/A<br>LEI: 984500578YEA8DD41B09       | Long             | DBT              | CORP              | AT        |   2991000 | PA      | $2829486.00   | 0.10%             | 2049-04-03      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Sabine Pass Liquefaction LLC                                   | Sabine Pass Liquefaction LLC                                                             | CUSIP: 785592AV8<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |   8220000 | PA      | $8338075.12   | 0.28%             | 2026-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International SA                         | TotalEnergies Capital International SA                                                   | CUSIP: 89153VAV1<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    800000 | PA      | $577941.65    | 0.02%             | 2050-05-29      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                    | Federal Republic of Nigeria                                                              | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |    630000 | PA      | $480375.00    | 0.02%             | 2032-02-16      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                       | Comstock Resources, Inc.                                                                 | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   2382000 | PA      | $2326380.30   | 0.08%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Canadian Pacific Railway Co.                                   | Canadian Pacific Railway Co.                                                             | CUSIP: 13645RBG8<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    760000 | PA      | $572068.47    | 0.02%             | 2041-12-02      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Booz Allen Hamilton, Inc.                                      | Booz Allen Hamilton, Inc.                                                                | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88663.00     | 0.00%             | 2029-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                         | Merrill Lynch Mortgage Investors Trust, Series 2003-OPT1, Class M1                       | CUSIP: 5899295K0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21295 | PA      | $20455.48     | 0.00%             | 2034-07-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| ZF Europe Finance BV                                           | ZF Europe Finance BV                                                                     | CUSIP: N/A<br>LEI: 549300RI533US2G6G542       | Long             | DBT              | CORP              | NL        |   1700000 | PA      | $1511616.99   | 0.05%             | 2027-10-23      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| MV24 Capital BV                                                | MV24 Capital BV                                                                          | CUSIP: 55388RAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |   2862258 | PA      | $2525584.90   | 0.09%             | 2034-06-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Raytheon Technologies Corp.                                    | Raytheon Technologies Corp.                                                              | CUSIP: 913017CJ6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1880000 | PA      | $1493579.95   | 0.05%             | 2046-11-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Santander Revolving Auto Loan Trust                            | Santander Revolving Auto Loan Trust, Series 2019-A, Class D                              | CUSIP: 80286JAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3623582.40   | 0.12%             | 2032-01-26      | Fixed         | 3.45%                 | Yes           |                  2 | On Loan: No      |
| Travel + Leisure Co.                                           | Travel + Leisure Co.                                                                     | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |     99000 | PA      | $92828.53     | 0.00%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                       | Republic of South Africa                                                                 | CUSIP: N/A<br>LEI: 378900AAFB4F17004C49       | Long             | DBT              | NUSS              | ZA        | 326737472 | PA      | $15194237.09  | 0.52%             | 2031-02-28      | Fixed         | 7.00%                 | 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      | $130459.41    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wolfspeed, Inc.                                                | Wolfspeed, Inc.                                                                          | CUSIP: 977852AA0<br>LEI: 549300OGU88P3AW3TO93 | Long             | DBT              | CORP              | US        |   2055000 | PA      | $1983075.00   | 0.07%             | 2028-02-15      | Fixed         | 0.25%                 | Yes           |                  2 | On Loan: No      |
| Canadian Pacific Railway Co.                                   | Canadian Pacific Railway Co.                                                             | CUSIP: 13645RBH6<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |   1720000 | PA      | $1209262.87   | 0.04%             | 2051-12-02      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Grifols SA                                                     | Grifols SA                                                                               | CUSIP: N/A<br>LEI: 959800HSSNXWRKBK4N60       | Long             | DBT              | CORP              | ES        |   2001000 | PA      | $1807176.63   | 0.06%             | 2027-11-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| SRS Distribution, Inc.                                         | SRS Distribution, Inc.                                                                   | CUSIP: 78471RAD8<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    280000 | PA      | $229357.62    | 0.01%             | 2029-12-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Grifols Escrow Issuer SA                                       | Grifols Escrow Issuer SA                                                                 | CUSIP: N/A<br>LEI: 959800HLB3PGTGSLVV62       | Long             | DBT              | CORP              | ES        |    552000 | PA      | $473711.18    | 0.02%             | 2028-10-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                   | Pacific Gas and Electric Co.                                                             | CUSIP: 694308HD2<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1222000 | PA      | $942446.19    | 0.03%             | 2043-06-15      | Fixed         | 4.60%                 | 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      | $109778.55    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sensata Technologies BV                                        | Sensata Technologies BV                                                                  | CUSIP: 81725WAJ2<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    129000 | PA      | $126052.28    | 0.00%             | 2025-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Enel Finance International NV                                  | Enel Finance International NV                                                            | CUSIP: 29278GAM0<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   7340000 | PA      | $6357549.88   | 0.22%             | 2026-07-12      | Fixed         | 1.38%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                              | NatWest Group plc                                                                        | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | DBT              | CORP              | GB        |    410000 | PA      | $414470.41    | 0.01%             | 2027-05-12      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                             | Arches Buyer, Inc.                                                                       | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    470000 | PA      | $386645.50    | 0.01%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| MGM Resorts International                                      | MGM Resorts International                                                                | CUSIP: 552953CC3<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   3460000 | PA      | $3460166.08   | 0.12%             | 2023-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The), Series T                                                | CUSIP: 38144GAE1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3709000 | PA      | $2933953.01   | 0.10%             | 2026-05-10      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust             | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C24, Class C             | CUSIP: 61765LAY6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    607000 | PA      | $552396.71    | 0.02%             | 2048-05-15      | Variable      | 4.48%                 | No            |                  3 | On Loan: No      |
| Performance Food Group, Inc.                                   | Performance Food Group, Inc.                                                             | CUSIP: 71376LAD2<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200000.00    | 0.01%             | 2025-05-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Bellis Acquisition Co. plc                                     | Bellis Acquisition Co. plc                                                               | CUSIP: N/A<br>LEI: 259400CYE2267UB4A481       | Long             | DBT              | CORP              | GB        |    386000 | PA      | $388921.91    | 0.01%             | 2026-02-16      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Rolls-Royce plc                                                | Rolls-Royce plc                                                                          | CUSIP: N/A<br>LEI: X57JK1U580XATGR67572       | Long             | DBT              | CORP              | GB        |    551000 | PA      | $562650.86    | 0.02%             | 2026-02-16      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Global Payments, Inc.                                          | Global Payments, Inc.                                                                    | CUSIP: 37940XAH5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   3450000 | PA      | $2737337.57   | 0.09%             | 2031-11-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Bausch Health Americas, Inc.                                   | Bausch Health Americas, Inc.                                                             | CUSIP: 91911XAV6<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |    725000 | PA      | $470121.53    | 0.02%             | 2026-04-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2515000 | PA      | $2088742.51   | 0.07%             | 2033-02-24      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Snap, Inc.                                                     | Snap, Inc.                                                                               | CUSIP: 83304AAF3<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |   1078000 | PA      | $751905.00    | 0.03%             | 2027-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                                   | Intelsat Jackson Holdings SA                                                             | CUSIP: N/A<br>LEI: 8XJ8KF85PBKK1TLMFN29       | Long             |  | CORP              | LU        |      3701 | NS      | $37.01        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2017-107, Class KS                                                          | CUSIP: 38380TB21<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3695934 | PA      | $367981.21    | 0.01%             | 2047-07-20      | Floating      | 2.26%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                               | BP Capital Markets America, Inc.                                                         | CUSIP: 10373QBT6<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $1863838.79   | 0.06%             | 2032-01-12      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                           | Frontier Communications Holdings LLC                                                     | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1895000 | PA      | $1803130.40   | 0.06%             | 2027-10-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 61772BAB9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  11955000 | PA      | $10532134.91  | 0.36%             | 2027-05-04      | Variable      | 1.59%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                           | Mitsubishi UFJ Financial Group, Inc.                                                     | CUSIP: 606822CQ5<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   8575000 | PA      | $8523170.90   | 0.29%             | 2025-09-12      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| Nice Ltd.                                                      | Nice Ltd.                                                                                | CUSIP: 653656AB4<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | DBT              | CORP              | IL        |   6346000 | PA      | $6066776.00   | 0.21%             | 2025-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AES Corp. (The)                                                | AES Corp. (The)                                                                          | CUSIP: 00130HCE3<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |   3770000 | PA      | $3349086.21   | 0.11%             | 2026-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| ESC Co.                                                        | ESC Co., Escrow                                                                          | CUSIP: 458ESCAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2785000 | PA      | $278.50       | 0.00%             | 2024-10-15      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| Iliad Holding SASU                                             | Iliad Holding SASU                                                                       | CUSIP: N/A<br>LEI: 9695009PXA7OI9NXN582       | Long             | DBT              | CORP              | FR        |    493000 | PA      | $491076.17    | 0.02%             | 2026-10-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| thyssenkrupp AG                                                | thyssenkrupp AG                                                                          | CUSIP: N/A<br>LEI: 549300UDG16DOYUPR330       | Long             | DBT              | CORP              | DE        |    400000 | PA      | $412077.60    | 0.01%             | 2023-03-06      | Fixed         | 1.88%                 | 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      | $21875.58     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                                    | Adient Global Holdings Ltd.                                                              | CUSIP: N/A<br>LEI: 213800VA38VCKE6M8790       | Long             | DBT              | CORP              | JE        |   2003000 | PA      | $2022717.60   | 0.07%             | 2024-08-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                       | Cooperatieve Rabobank UA                                                                 | CUSIP: 74977RDN1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   5350000 | PA      | $4931700.25   | 0.17%             | 2028-04-06      | Variable      | 3.65%                 | Yes           |                  2 | On Loan: No      |
| Union Electric Co.                                             | Union Electric Co.                                                                       | CUSIP: 906548CU4<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |    885000 | PA      | $722037.93    | 0.02%             | 2052-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                      | Vistra Operations Co. LLC                                                                | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   3157000 | PA      | $2886145.09   | 0.10%             | 2027-01-30      | Fixed         | 3.70%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                   | GS Mortgage Securities Trust, Series 2015-GC30, Class C                                  | CUSIP: 36250GAW5<br>LEI: 549300L45M7638EL0H21 | Long             | ABS-MBS          | CORP              | US        |    605000 | PA      | $539664.78    | 0.02%             | 2050-05-10      | Variable      | 4.20%                 | No            |                  3 | On Loan: No      |
| Pagaya AI Technology in Housing Trust                          | Pagaya AI Technology in Housing Trust, Series 2022-1, Class D                            | CUSIP: 69547NAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2668000 | PA      | $2384144.54   | 0.08%             | 2025-08-25      | Fixed         | 4.25%                 | Yes           |                  3 | On Loan: No      |
| Nexstar Media, Inc.                                            | Nexstar Media, Inc.                                                                      | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1032307.20   | 0.04%             | 2028-11-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Masonite International Corp.                                   | Masonite International Corp.                                                             | CUSIP: 575385AD1<br>LEI: 549300H0H07ZFT4JYM32 | Long             | DBT              | CORP              | CA        |     95000 | PA      | $86083.87     | 0.00%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                               | CSC Holdings LLC                                                                         | CUSIP: 126307AY3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    410000 | PA      | $319353.10    | 0.01%             | 2028-04-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Jamaica                                                        | Jamaica Government Bond                                                                  | CUSIP: 470160CB6<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |   1490000 | PA      | $1632295.00   | 0.06%             | 2045-07-28      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                                  | Notas do Tesouro Nacional                                                                | CUSIP: N/A<br>LEI: 254900ZFY40OYEADAP90       | Long             | DBT              | NUSS              | BR        | 290000000 | PA      | $53572043.38  | 1.83%             | 2027-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                    | Allied Universal Holdco LLC                                                              | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     93000 | PA      | $88350.00     | 0.00%             | 2026-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Lottomatica SpA                                                | Lottomatica SpA                                                                          | CUSIP: N/A<br>LEI: 81560046335277E43118       | Long             | DBT              | CORP              | IT        |   2699000 | PA      | $2684900.82   | 0.09%             | 2025-07-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| MVW LLC                                                        | MVW LLC, Series 2021-1WA, Class D                                                        | CUSIP: 55389TAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5114998 | PA      | $4483314.59   | 0.15%             | 2041-01-22      | Fixed         | 3.17%                 | Yes           |                  3 | On Loan: No      |
| thyssenkrupp AG                                                | thyssenkrupp AG                                                                          | CUSIP: N/A<br>LEI: 549300UDG16DOYUPR330       | Long             | DBT              | CORP              | DE        |   2600000 | PA      | $2650312.49   | 0.09%             | 2024-02-22      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Paprec Holding SA                                              | Paprec Holding SA                                                                        | CUSIP: N/A<br>LEI: 969500ASAFSVN9KVC873       | Long             | DBT              | CORP              | FR        |   1073000 | PA      | $960244.88    | 0.03%             | 2028-07-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Antero Resources Corp.                                         | Antero Resources Corp.                                                                   | CUSIP: 03674XAN6<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |    208000 | PA      | $218807.36    | 0.01%             | 2026-07-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Ziggo BV                                                       | Ziggo BV                                                                                 | CUSIP: N/A<br>LEI: 213800TQASLF9JXH5J59       | Long             | DBT              | CORP              | NL        |    465000 | PA      | $400772.78    | 0.01%             | 2030-01-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                                         | Howmet Aerospace, Inc.                                                                   | CUSIP: 022249AU0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |     83000 | PA      | $84660.00     | 0.00%             | 2028-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Santander Revolving Auto Loan Trust                            | Santander Revolving Auto Loan Trust, Series 2019-A, Class A                              | CUSIP: 80286JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2760000 | PA      | $2591652.97   | 0.09%             | 2032-01-26      | Fixed         | 2.51%                 | Yes           |                  2 | On Loan: No      |
| Rite Aid Corp.                                                 | Rite Aid Corp.                                                                           | CUSIP: 767754CK8<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |    947000 | PA      | $711475.98    | 0.02%             | 2025-07-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Sigma Holdco BV                                                | Sigma Holdco BV                                                                          | CUSIP: N/A<br>LEI: 254900RAPCKVT00GAO59       | Long             | DBT              | CORP              | NL        |   1843000 | PA      | $1358587.81   | 0.05%             | 2026-05-15      | Fixed         | 5.75%                 | 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      | $94242.40     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Travel + Leisure Co.                                           | Travel + Leisure Co.                                                                     | CUSIP: 98310WAM0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    243000 | PA      | $238747.50    | 0.01%             | 2025-10-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| EQT Corp.                                                      | EQT Corp.                                                                                | CUSIP: 26884LAF6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1087711.20   | 0.04%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                               | Boeing Co. (The)                                                                         | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1029099.54   | 0.04%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4304, Class DI                                                      | CUSIP: 3137B7RX9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     67129 | PA      | $997.96       | 0.00%             | 2027-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2550000 | PA      | $2413243.50   | 0.08%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Commercial Mortgage Securities Trust            | JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class C            | CUSIP: 46645UAZ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    484000 | PA      | $407123.23    | 0.01%             | 2049-12-15      | Variable      | 3.52%                 | No            |                  3 | On Loan: No      |
| A10 Revolving Asset Financing I LLC                            | A10 Revolving Asset Financing I LLC                                                      | CUSIP: 002122AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $247500.00    | 0.01%             | 2023-10-15      | Variable      | 8.30%                 | No            |                  3 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GHT9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4060000 | PA      | $3829567.64   | 0.13%             | 2027-04-23      | Variable      | 3.56%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                     | JPMBB Commercial Mortgage Securities Trust, Series 2015-C31, Class C                     | CUSIP: 46644YBB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $359465.88    | 0.01%             | 2048-08-15      | Variable      | 4.78%                 | No            |                  3 | On Loan: No      |
| Six Flags Theme Parks, Inc.                                    | Six Flags Theme Parks, Inc.                                                              | CUSIP: 83001WAC8<br>LEI: 5493003MX0ZXTM8EVY68 | Long             | DBT              | CORP              | US        |    494000 | PA      | $495223.16    | 0.02%             | 2025-07-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Crown European Holdings SA                                     | Crown European Holdings SA                                                               | CUSIP: N/A<br>LEI: 85OKW2SW05RZFQS1W718       | Long             | DBT              | CORP              | FR        |    500000 | PA      | $505835.66    | 0.02%             | 2025-05-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| OL SP LLC                                                      | OL SP LLC, Series 2018, Class C                                                          | CUSIP: 67090UAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    373670 | PA      | $362770.44    | 0.01%             | 2025-05-15      | Fixed         | 4.25%                 | No            |                  3 | On Loan: No      |
| N/A                                                            | Euro-Buxl 30 Year Bond                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -39 | NC      | $-335393.29   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Madison IAQ LLC                                                | Madison IAQ LLC                                                                          | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |   1630000 | PA      | $1409607.70   | 0.05%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Claire's Stores, Inc.                                          | Claire's Stores, Inc., 1st Lien Term Loan B                                              | CUSIP: 17958DAL1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1642164 | PA      | $1461525.84   | 0.05%             | 2026-12-18      | Variable      | 10.57%                | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                              | Wells Fargo & Co.                                                                        | CUSIP: 94974BGQ7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1067949.03   | 0.04%             | 2045-11-17      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ams-OSRAM AG                                                   | ams-OSRAM AG                                                                             | CUSIP: N/A<br>LEI: 5299001JPPT2QFTV5D76       | Long             | DBT              | CORP              | AT        |   1360000 | PA      | $1332072.07   | 0.05%             | 2025-07-31      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| JetBlue Pass-Through Trust                                     | JetBlue Pass-Through Trust, Series 2019-1, Class A                                       | CUSIP: 477143AJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    519527 | PA      | $433863.09    | 0.01%             | 2028-05-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Virgin Media Finance plc                                       | Virgin Media Finance plc                                                                 | CUSIP: N/A<br>LEI: 2138001LVYC87DDHT482       | Long             | DBT              | CORP              | GB        |    600000 | PA      | $495616.97    | 0.02%             | 2030-07-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| AT&T, Inc.                                                     | AT&T, Inc.                                                                               | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1946000 | PA      | $1364941.60   | 0.05%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Swiss Re Finance Luxembourg SA                                 | Swiss Re Finance Luxembourg SA                                                           | CUSIP: 87089NAA8<br>LEI: 549300CLQZ6TM98LW631 | Long             | DBT              | CORP              | LU        |    800000 | PA      | $710240.00    | 0.02%             | 2049-04-02      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                               | ABN AMRO Bank NV                                                                         | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | DBT              | CORP              | NL        |   2000000 | PA      | $1943320.52   | 0.07%             | 2025-09-22      | Variable      | 4.37%                 | 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      | $5659.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Summit Hotel Properties, Inc.                                  | Summit Hotel Properties, Inc.                                                            | CUSIP: 866082AA8<br>LEI: 254900OBQWJK6X20LS71 | Long             | DBT              | CORP              | US        |   1156000 | PA      | $1056006.00   | 0.04%             | 2026-02-15      | Fixed         | 1.50%                 | 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      | $-18289.77    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2014-44, Class QI                                                    | CUSIP: 3136AKSK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    304487 | PA      | $13465.22     | 0.00%             | 2029-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Canadian Pacific Railway Co.                                   | Canadian Pacific Railway Co.                                                             | CUSIP: 13645RBF0<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |   1620000 | PA      | $1350075.42   | 0.05%             | 2031-12-02      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                               | ABN AMRO Bank NV                                                                         | CUSIP: 00084DAV2<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   4000000 | PA      | $2897262.92   | 0.10%             | 2037-03-13      | Variable      | 3.32%                 | Yes           |                  2 | On Loan: No      |
| Vodafone Group plc                                             | Vodafone Group plc                                                                       | CUSIP: 92857WBM1<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |   1550000 | PA      | $1392001.35   | 0.05%             | 2048-05-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Arconic Corp.                                                  | Arconic Corp.                                                                            | CUSIP: 03966VAA5<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    700000 | PA      | $657265.00    | 0.02%             | 2028-02-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 6174468U6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    882000 | PA      | $671236.94    | 0.02%             | 2032-02-13      | Variable      | 1.79%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                             | Credit Agricole SA                                                                       | CUSIP: 22535WAD9<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   1062000 | PA      | $1023675.85   | 0.03%             | 2024-10-04      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties LP                                             | VICI Properties LP                                                                       | CUSIP: 92564RAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $216496.80    | 0.01%             | 2027-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                          | Spectrum Brands, Inc.                                                                    | CUSIP: 84762LAU9<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |     84000 | PA      | $82682.88     | 0.00%             | 2025-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Palo Alto Networks, Inc.                                       | Palo Alto Networks, Inc.                                                                 | CUSIP: 697435AF2<br>LEI: 549300QXR2YVZV231H43 | Long             | DBT              | CORP              | US        |   3690000 | PA      | $6463035.00   | 0.22%             | 2025-06-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                      | EQM Midstream Partners LP                                                                | CUSIP: 26885BAK6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   3055000 | PA      | $2685039.50   | 0.09%             | 2029-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                            | Euro-Schatz                                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |      -787 | NC      | $809941.47    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp.                                                  | Comcast Corp.                                                                            | CUSIP: 20030NEB3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   2210000 | PA      | $2316632.35   | 0.08%             | 2032-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                       | Cooperatieve Rabobank UA                                                                 | CUSIP: N/A<br>LEI: DG3RU1DBUFHT4ZF9WN62       | Long             | DBT              | CORP              | NL        |   3000000 | PA      | $2791014.09   | 0.10%             | 2027-06-29      | Variable      | 4.37%                 | Yes           |                  2 | On Loan: No      |
| Chrome Holdco SASU                                             | Chrome Holdco SASU                                                                       | CUSIP: N/A<br>LEI: 9845000E49865VT3N679       | Long             | DBT              | CORP              | FR        |    952000 | PA      | $786529.50    | 0.03%             | 2029-05-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Synthomer plc                                                  | Synthomer plc                                                                            | CUSIP: N/A<br>LEI: 213800EHT3TI1KPQQJ56       | Long             | DBT              | CORP              | GB        |   1458000 | PA      | $1346935.21   | 0.05%             | 2025-07-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                     | iHeartCommunications, Inc.                                                               | CUSIP: 45174HBC0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   1119775 | PA      | $1059091.77   | 0.04%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VM Master Issuer LLC                                           | VM Master Issuer LLC, Series 2022-1, Class A1                                            | CUSIP: 92859MAA8<br>LEI: 549300DTHP15ZDVADB72 | Long             | ABS-MBS          | CORP              | US        |  12600000 | PA      | $11870964.00  | 0.41%             | 2025-05-24      | Variable      | 5.16%                 | Yes           |                  2 | On Loan: No      |
| Nidda Healthcare Holding GmbH                                  | Nidda Healthcare Holding GmbH                                                            | CUSIP: N/A<br>LEI: 549300Q89C4WAO6L0L19       | Long             | DBT              | CORP              | DE        |   2100000 | PA      | $2088824.49   | 0.07%             | 2024-09-30      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                                       | BX Trust, Series 2022-CLS, Class A                                                       | CUSIP: 05609XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4385454 | PA      | $4338781.81   | 0.15%             | 2027-10-13      | Fixed         | 5.76%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                             | United Rentals North America, Inc.                                                       | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    506000 | PA      | $499282.85    | 0.02%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                          | Spectrum Brands, Inc.                                                                    | CUSIP: 84762LAV7<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1323529.50   | 0.05%             | 2029-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Home Equity Asset Trust                                        | Home Equity Asset Trust, Series 2004-6, Class M2                                         | CUSIP: 437084EU6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     27650 | PA      | $27463.16     | 0.00%             | 2034-12-25      | Floating      | 4.94%                 | No            |                  3 | On Loan: No      |
| TerraForm Power Operating LLC                                  | TerraForm Power Operating LLC                                                            | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    260000 | PA      | $241150.00    | 0.01%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BHG Securitization Trust                                       | BHG Securitization Trust, Series 2022-C, Class A                                         | CUSIP: 08860DAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1857573 | PA      | $1840447.39   | 0.06%             | 2035-10-17      | Fixed         | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Credit CLO                                        | Bain Capital Credit CLO, Series 2019-1A, Class AR                                        | CUSIP: 05683VAS3<br>LEI: 549300B0VI605XM3L529 | Long             | ABS-CBDO         | CORP              | KY        |   3300000 | PA      | $3198360.00   | 0.11%             | 2034-04-19      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| ILPT Commercial Mortgage Trust                                 | ILPT Commercial Mortgage Trust, Series 2022-LPF2, Class A                                | CUSIP: 449652AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2729007 | PA      | $2707716.38   | 0.09%             | 2039-10-15      | Floating      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| Discover Bank                                                  | Discover Bank                                                                            | CUSIP: 25466AAD3<br>LEI: X05BVSK68TQ7YTOSNR22 | Long             | DBT              | CORP              | US        |   6995000 | PA      | $6945732.12   | 0.24%             | 2023-08-08      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                                  | Staples, Inc.                                                                            | CUSIP: 855030AP7<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $884643.10    | 0.03%             | 2027-04-15      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                            | American Axle & Manufacturing, Inc.                                                      | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   1970000 | PA      | $1714208.88   | 0.06%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                           | American Express Co.                                                                     | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1388000 | PA      | $1103460.00   | 0.04%             | 2026-09-15      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| Mallinckrodt plc                                               | Mallinckrodt plc                                                                         | CUSIP: N/A<br>LEI: 549300LMDE3RUP8Z3L60       | Long             | EC               | CORP              | IE        |      9945 | NS      | $107654.63    | 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      | $47250.40     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Electricite de France SA                                       | Electricite de France SA                                                                 | CUSIP: N/A<br>LEI: 549300X3UK4GG3FNMO06       | Long             | DBT              | NUSS              | FR        |   2000000 | PA      | $1944577.56   | 0.07%             | 2026-01-22      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Netflix, Inc.                                                  | Netflix, Inc.                                                                            | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    785000 | PA      | $762603.95    | 0.03%             | 2028-04-15      | Fixed         | 4.88%                 | 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      | $-96901.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VICI Properties LP                                             | VICI Properties LP                                                                       | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    664000 | PA      | $602495.86    | 0.02%             | 2029-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                      | Republic of Cote d'Ivoire                                                                | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |   7400000 | PA      | $5877842.15   | 0.20%             | 2040-10-17      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                            | Societe Generale SA                                                                      | CUSIP: 83370RAA6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3175000 | PA      | $2492692.50   | 0.09%             | 2030-11-18      | Variable      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Petronas Capital Ltd.                                          | Petronas Capital Ltd.                                                                    | CUSIP: 71675CAE8<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |   6007000 | PA      | $4230369.68   | 0.14%             | 2061-04-28      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                    | IQVIA, Inc.                                                                              | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    545000 | PA      | $524562.50    | 0.02%             | 2026-10-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 61747YER2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    967000 | PA      | $921164.64    | 0.03%             | 2028-04-20      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc., Series M                                                                | CUSIP: 172967HQ7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2575000 | PA      | $2407625.00   | 0.08%             | 2024-05-15      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                       | Cooperatieve Rabobank UA                                                                 | CUSIP: 74977RDE1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   2310000 | PA      | $2281325.72   | 0.08%             | 2023-09-26      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4057, Class UI                                                      | CUSIP: 3137ARKV7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    277315 | PA      | $9253.24      | 0.00%             | 2027-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pike Corp.                                                     | Pike Corp.                                                                               | CUSIP: 721283AA7<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |    177000 | PA      | $158121.18    | 0.01%             | 2028-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Hunt Companies Finance Trust, Inc.                             | Hunt Companies Finance Trust, Inc.                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |   6000000 | PA      | $5820000.00   | 0.20%             | 2025-02-13      | Fixed         | 7.25%                 | No            |                  3 | On Loan: No      |
| United States Cellular Corp.                                   | United States Cellular Corp.                                                             | CUSIP: 911684AD0<br>LEI: 549300B164AZXESI6E03 | Long             | DBT              | CORP              | US        |   2794000 | PA      | $2444107.38   | 0.08%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC                                     | Outfront Media Capital LLC                                                               | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $159468.75    | 0.01%             | 2027-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Renk AG                                                        | Renk AG                                                                                  | CUSIP: N/A<br>LEI: 894500DAJJ2W78HOJY11       | Long             | DBT              | CORP              | DE        |   1492000 | PA      | $1409691.72   | 0.05%             | 2025-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                          | OneMain Finance Corp.                                                                    | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $841112.55    | 0.03%             | 2030-09-15      | 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      | $-219557.53   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OL SP LLC                                                      | OL SP LLC, Series 2018, Class B                                                          | CUSIP: 67090UAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    383249 | PA      | $375016.99    | 0.01%             | 2030-02-09      | Fixed         | 4.61%                 | No            |                  3 | On Loan: No      |
| Ziggo Bond Co. BV                                              | Ziggo Bond Co. BV                                                                        | CUSIP: N/A<br>LEI: 213800JYI4P7V5QDOG59       | Long             | DBT              | CORP              | NL        |    500000 | PA      | $397379.13    | 0.01%             | 2030-02-28      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2015-40, Class LS                                                    | CUSIP: 3136AN4Q7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2425595 | PA      | $249979.62    | 0.01%             | 2045-06-25      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K088, Class X3          | CUSIP: 3137FL6H2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  12520000 | PA      | $1447294.47   | 0.05%             | 2047-02-25      | Variable      | 2.43%                 | No            |                  2 | On Loan: No      |
| Stagwell Global LLC                                            | Stagwell Global LLC                                                                      | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    544000 | PA      | $466480.00    | 0.02%             | 2029-08-15      | Fixed         | 5.62%                 | 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      | $167711.27    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA                                             | Banco Santander SA                                                                       | CUSIP: 05964HAR6<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   3600000 | PA      | $3577185.50   | 0.12%             | 2025-08-18      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BBVA Bancomer SA                                               | BBVA Bancomer SA                                                                         | CUSIP: 05533UAF5<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   4300000 | PA      | $3689615.00   | 0.13%             | 2033-01-18      | Variable      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Autostrade per l'Italia SpA                                    | Autostrade per l'Italia SpA                                                              | CUSIP: N/A<br>LEI: 815600149448CEB9B230       | Long             | DBT              | CORP              | IT        |   2000000 | PA      | $1695561.98   | 0.06%             | 2029-09-26      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| Graham Packaging Co., Inc.                                     | Graham Packaging Co., Inc.                                                               | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |    680000 | PA      | $574883.19    | 0.02%             | 2028-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Dun & Bradstreet Corp. (The)                                   | Dun & Bradstreet Corp. (The)                                                             | CUSIP: 26483EAL4<br>LEI: RI37BMPWE56BCJ747E14 | Long             | DBT              | CORP              | US        |    315000 | PA      | $271010.25    | 0.01%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                            | Exeter Automobile Receivables Trust, Series 2018-3A, Class F                             | CUSIP: 30166PAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    880000 | PA      | $877337.03    | 0.03%             | 2025-08-25      | Fixed         | 6.55%                 | 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      | $-5070.88     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GJE0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1965000 | PA      | $1370770.91   | 0.05%             | 2041-06-19      | Variable      | 2.68%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                              | HSBC Holdings plc                                                                        | CUSIP: 404280CV9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    535000 | PA      | $432355.60    | 0.01%             | 2029-08-17      | Variable      | 2.21%                 | No            |                  2 | On Loan: No      |
| JetBlue Airways Corp.                                          | JetBlue Airways Corp.                                                                    | CUSIP: 477143AP6<br>LEI: 54930070J9H97ZO93T57 | Long             | DBT              | CORP              | US        |   2490000 | PA      | $1866255.00   | 0.06%             | 2026-04-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| SRS Distribution, Inc.                                         | SRS Distribution, Inc.                                                                   | CUSIP: 78471RAB2<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    300000 | PA      | $268110.00    | 0.01%             | 2028-07-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                                     | Ball Corp.                                                                               | CUSIP: N/A<br>LEI: 0BGI85ALH27ZJP15DY16       | Long             | DBT              | CORP              | US        |    600000 | PA      | $551185.01    | 0.02%             | 2027-03-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Gartner, Inc.                                                  | Gartner, Inc.                                                                            | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |   3035000 | PA      | $2857209.70   | 0.10%             | 2028-07-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                                      | HCA, Inc.                                                                                | CUSIP: 404119BS7<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3891000 | PA      | $3922697.02   | 0.13%             | 2026-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Telecom Italia SpA                                             | Telecom Italia SpA                                                                       | CUSIP: N/A<br>LEI: 549300W384M3RI3VXU42       | Long             | DBT              | CORP              | IT        |    800000 | PA      | $693039.61    | 0.02%             | 2027-10-12      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GYA6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3770000 | PA      | $3314927.33   | 0.11%             | 2027-03-09      | Variable      | 1.43%                 | No            |                  2 | On Loan: No      |
| Deutsche Lufthansa AG                                          | Deutsche Lufthansa AG                                                                    | CUSIP: N/A<br>LEI: 529900PH63HYJ86ASW55       | Long             | DBT              | CORP              | DE        |   1200000 | PA      | $1184935.39   | 0.04%             | 2025-02-11      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                     | Warnermedia Holdings, Inc.                                                               | CUSIP: 55903VAL7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   8173000 | PA      | $6938870.05   | 0.24%             | 2032-03-15      | Fixed         | 4.28%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                     | Builders FirstSource, Inc.                                                               | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   1317000 | PA      | $1067639.73   | 0.04%             | 2032-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Senegal                                            | Republic of Senegal                                                                      | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |   6380000 | PA      | $5312546.25   | 0.18%             | 2033-05-23      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Southern California Edison Co.                                 | Southern California Edison Co.                                                           | CUSIP: 842400GT4<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   1513000 | PA      | $1128946.90   | 0.04%             | 2050-02-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Ashland Services BV                                            | Ashland Services BV                                                                      | CUSIP: N/A<br>LEI: 549300S52OPXPKGJS029       | Long             | DBT              | CORP              | NL        |    407000 | PA      | $360207.33    | 0.01%             | 2028-01-30      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Sprint LLC                                                     | Sprint LLC                                                                               | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    756000 | PA      | $795109.39    | 0.03%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                              | GLS Auto Receivables Issuer Trust, Series 2021-3A, Class E                               | CUSIP: 36263LAJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3530000 | PA      | $3009740.13   | 0.10%             | 2028-10-16      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| 888 Acquisitions Ltd.                                          | 888 Acquisitions Ltd.                                                                    | CUSIP: N/A<br>LEI: 254900RFD0BP3JOPZU89       | Long             | DBT              | CORP              | GI        |   1070000 | PA      | $976822.67    | 0.03%             | 2027-07-15      | Fixed         | 7.56%                 | Yes           |                  2 | On Loan: No      |
| Casino Guichard Perrachon SA                                   | Casino Guichard Perrachon SA                                                             | CUSIP: N/A<br>LEI: 969500VHL8F83GBL6L29       | Long             | DBT              | CORP              | FR        |   1700000 | PA      | $1556638.55   | 0.05%             | 2024-03-07      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                             | Banco Bilbao Vizcaya Argentaria SA                                                       | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | DBT              | CORP              | ES        |   7600000 | PA      | $7626382.64   | 0.26%             | 2026-01-15      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                   | Avolon Holdings Funding Ltd.                                                             | CUSIP: 05401AAG6<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1075000 | PA      | $977186.26    | 0.03%             | 2026-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Atlantia SpA                                                   | Atlantia SpA                                                                             | CUSIP: N/A<br>LEI: 8156008DEC771409C487       | Long             | DBT              | CORP              | IT        |   1600000 | PA      | $1410221.13   | 0.05%             | 2027-07-13      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GKA6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2465000 | PA      | $1931388.29   | 0.07%             | 2032-07-21      | Variable      | 2.30%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                  | Netflix, Inc.                                                                            | CUSIP: 64110LAU0<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   3936000 | PA      | $3863219.42   | 0.13%             | 2029-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Sabine Pass Liquefaction LLC                                   | Sabine Pass Liquefaction LLC                                                             | CUSIP: 785592AX4<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |   2394000 | PA      | $2262036.76   | 0.08%             | 2030-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                 | JELD-WEN, Inc.                                                                           | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    870000 | PA      | $681497.10    | 0.02%             | 2027-12-15      | Fixed         | 4.88%                 | 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      | $6990.86      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TUI Cruises GmbH                                               | TUI Cruises GmbH                                                                         | CUSIP: N/A<br>LEI: 529900SVD83QUUIZYY18       | Long             | DBT              | CORP              | DE        |    833000 | PA      | $708625.19    | 0.02%             | 2026-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Coty, Inc.                                                     | Coty, Inc.                                                                               | CUSIP: N/A<br>LEI: 549300BO9IWPF3S48F93       | Long             | DBT              | CORP              | US        |    600000 | PA      | $578594.42    | 0.02%             | 2026-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K050, Class X3          | CUSIP: 3137BLWB0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  21110000 | PA      | $756808.28    | 0.03%             | 2043-10-25      | Variable      | 1.61%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                  | Netflix, Inc.                                                                            | CUSIP: N/A<br>LEI: 549300Y7VHGU0I7CE873       | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1037998.51   | 0.04%             | 2029-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Kaixo Bondco Telecom SA                                        | Kaixo Bondco Telecom SA                                                                  | CUSIP: N/A<br>LEI: 959800ULWB3MZHZ69055       | Long             | DBT              | CORP              | ES        |   1134000 | PA      | $1008934.55   | 0.03%             | 2029-09-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Madison IAQ LLC                                                | Madison IAQ LLC                                                                          | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $924662.50    | 0.03%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Southern California Edison Co.                                 | Southern California Edison Co., Series A                                                 | CUSIP: 842400GQ0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   2217000 | PA      | $2107181.99   | 0.07%             | 2029-03-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| International Consolidated Airlines Group SA                   | International Consolidated Airlines Group SA                                             | CUSIP: N/A<br>LEI: 959800TZHQRUSH1ESL13       | Long             | DBT              | CORP              | ES        |    800000 | PA      | $755425.18    | 0.03%             | 2025-03-25      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Southwestern Energy Co.                                        | Southwestern Energy Co.                                                                  | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1090632.00   | 0.04%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Brooks Automation                                              | Brooks Automation, 1st Lien Term Loan B                                                  | CUSIP: 02090CAE0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    360860 | PA      | $340110.83    | 0.01%             | 2029-02-01      | Variable      | 5.26%                 | No            |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                        | GFL Environmental, Inc.                                                                  | CUSIP: 36168QAK0<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    385000 | PA      | $360433.15    | 0.01%             | 2025-08-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| VZ Vendor Financing II BV                                      | VZ Vendor Financing II BV                                                                | CUSIP: N/A<br>LEI: 724500DRKUUR3GFOSK76       | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $814175.85    | 0.03%             | 2029-01-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc.                                                                          | CUSIP: 172967MP3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5950000 | PA      | $5530565.70   | 0.19%             | 2031-03-31      | Variable      | 4.41%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4714, Class SA                                                      | CUSIP: 3137F2MJ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4556137 | PA      | $543749.42    | 0.02%             | 2047-08-15      | Floating      | 2.28%                 | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                   | Tallgrass Energy Partners LP                                                             | CUSIP: 87470LAH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1947000 | PA      | $1971337.50   | 0.07%             | 2025-10-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Verisure Midholding AB                                         | Verisure Midholding AB                                                                   | CUSIP: N/A<br>LEI: 549300496LYEZ55X1M49       | Long             | DBT              | CORP              | SE        |   2663000 | PA      | $2234213.74   | 0.08%             | 2029-02-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corp.                                                | Air Lease Corp.                                                                          | CUSIP: 00914AAE2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   4550000 | PA      | $3854677.51   | 0.13%             | 2029-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Thai Oil PCL                                                   | Thai Oil PCL                                                                             | CUSIP: N/A<br>LEI: 549300HG5527UPZLTT69       | Long             | DBT              | CORP              | TH        |   2510000 | PA      | $2501058.13   | 0.09%             | 2023-01-23      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| OCP SA                                                         | OCP SA                                                                                   | CUSIP: N/A<br>LEI: 213800D26TAPVTCVWG40       | Long             | DBT              | NUSS              | MA        |   2280000 | PA      | $2061690.00   | 0.07%             | 2044-04-25      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| PNMAC GMSR Issuer Trust                                        | PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A                                        | CUSIP: 69354WAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1358113.40   | 0.05%             | 2023-02-25      | Floating      | 6.89%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K724, Class X3          | CUSIP: 3137BTU58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10995752 | PA      | $186506.65    | 0.01%             | 2044-12-25      | Variable      | 1.93%                 | No            |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                                         | Howmet Aerospace, Inc.                                                                   | CUSIP: 013817AJ0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    920000 | PA      | $910800.00    | 0.03%             | 2027-02-01      | Fixed         | 5.90%                 | 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      | $-93536.51    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                   | DaVita, Inc.                                                                             | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   2975000 | PA      | $2408203.00   | 0.08%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K094, Class X3          | CUSIP: 3137FMU34<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4450000 | PA      | $486619.52    | 0.02%             | 2047-07-25      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| Southwest Airlines Co.                                         | Southwest Airlines Co.                                                                   | CUSIP: 844741BG2<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $3569500.00   | 0.12%             | 2025-05-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| ILFC E-Capital Trust I                                         | ILFC E-Capital Trust I                                                                   | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | SN               | CORP              | US        |    500000 | PA      | $324670.00    | 0.01%             | 2065-12-21      | Floating      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                       | Svenska Handelsbanken AB                                                                 | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | DBT              | CORP              | SE        |   3000000 | PA      | $2448750.00   | 0.08%             | 2031-03-01      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| ACCO Brands Corp.                                              | ACCO Brands Corp.                                                                        | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |   6690000 | PA      | $5588892.90   | 0.19%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Public Service Enterprise Group, Inc.                          | Public Service Enterprise Group, Inc.                                                    | CUSIP: 744573AQ9<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |   2695000 | PA      | $2100687.42   | 0.07%             | 2030-08-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| TEGNA, Inc.                                                    | TEGNA, Inc.                                                                              | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    505000 | PA      | $476270.55    | 0.02%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Pertamina Persero PT                                           | Pertamina Persero PT                                                                     | CUSIP: 69370PAD3<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | NUSS              | ID        |   3619000 | PA      | $3302735.59   | 0.11%             | 2029-07-30      | Fixed         | 3.65%                 | Yes           |                  2 | On Loan: No      |
| EP Energy Corp.                                                | EP Energy Corp.                                                                          | CUSIP: 268785201<br>LEI: 549300Z6HPQS1H5IYQ07 | Long             | EC               | CORP              | US        |     10516 | NS      | $73612.00     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Catalent Pharma Solutions, Inc.                                | Catalent Pharma Solutions, Inc.                                                          | CUSIP: 14879EAE8<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |     46000 | PA      | $43826.50     | 0.00%             | 2027-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                                     | Edgewell Personal Care Co.                                                               | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |   2281000 | PA      | $2149338.67   | 0.07%             | 2028-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K036, Class X3          | CUSIP: 3137B7N39<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  31545190 | PA      | $577248.59    | 0.02%             | 2041-12-25      | Variable      | 2.18%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                       | Benchmark Mortgage Trust, Series 2019-B11, Class C                                       | CUSIP: 08162BBL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5352000 | PA      | $4129236.05   | 0.14%             | 2052-05-15      | Variable      | 3.75%                 | No            |                  3 | On Loan: No      |
| Infrastrutture Wireless Italiane SpA                           | Infrastrutture Wireless Italiane SpA                                                     | CUSIP: N/A<br>LEI: 81560066183FE361C071       | Long             | DBT              | CORP              | IT        |   1200000 | PA      | $1149147.08   | 0.04%             | 2026-07-08      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| Altice Finco SA                                                | Altice Finco SA                                                                          | CUSIP: N/A<br>LEI: 549300IGQP5SEZB5Z419       | Long             | DBT              | CORP              | LU        |   2225000 | PA      | $1771810.12   | 0.06%             | 2028-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Welltower, Inc.                                                | Welltower, Inc.                                                                          | CUSIP: 95040QAR5<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1209021.07   | 0.04%             | 2032-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CommScope, Inc.                                                | CommScope, Inc.                                                                          | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    855000 | PA      | $720046.80    | 0.02%             | 2029-09-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                              | HSBC Holdings plc                                                                        | CUSIP: 404280CX5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   8312000 | PA      | $7164528.57   | 0.24%             | 2027-11-22      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| Q-Park Holding I BV                                            | Q-Park Holding I BV                                                                      | CUSIP: N/A<br>LEI: 2549003839B7HE3NDP48       | Long             | DBT              | CORP              | NL        |    875000 | PA      | $766434.42    | 0.03%             | 2027-03-01      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corp.                                                | Air Lease Corp.                                                                          | CUSIP: 00912XBA1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1327080.86   | 0.05%             | 2025-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                       | Lloyds Banking Group plc                                                                 | CUSIP: 539439AS8<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   4445000 | PA      | $4404365.54   | 0.15%             | 2023-08-16      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Roper Technologies, Inc.                                       | Roper Technologies, Inc.                                                                 | CUSIP: 776743AG1<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |   5006000 | PA      | $4382634.66   | 0.15%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Transocean Poseidon Ltd.                                       | Transocean Poseidon Ltd.                                                                 | CUSIP: 89383JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    110250 | PA      | $107218.13    | 0.00%             | 2027-02-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                                      | HCA, Inc.                                                                                | CUSIP: 404119BU2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1768867.00   | 0.06%             | 2027-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                            | Societe Generale SA                                                                      | CUSIP: 83368RBJ0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   5032000 | PA      | $3938475.55   | 0.13%             | 2033-01-21      | Variable      | 3.34%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                 | DISH DBS Corp.                                                                           | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2020000 | PA      | $1691952.00   | 0.06%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC                                                 | 1011778 BC ULC                                                                           | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    975000 | PA      | $821106.00    | 0.03%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Cheesecake Factory, Inc. (The)                                 | Cheesecake Factory, Inc. (The)                                                           | CUSIP: 163072AA9<br>LEI: 529900872XMLK10SY247 | Long             | DBT              | CORP              | US        |   3957000 | PA      | $3286783.13   | 0.11%             | 2026-06-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                           | Clear Channel Outdoor Holdings, Inc.                                                     | CUSIP: 18453HAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2575000 | PA      | $1918515.41   | 0.07%             | 2028-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Electricite de France SA                                       | Electricite de France SA                                                                 | CUSIP: N/A<br>LEI: 549300X3UK4GG3FNMO06       | Long             | DBT              | NUSS              | FR        |   1800000 | PA      | $1503146.71   | 0.05%             | 2027-09-03      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| ATI, Inc.                                                      | ATI, Inc.                                                                                | CUSIP: 01741RAK8<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |   1796000 | PA      | $3679106.00   | 0.13%             | 2025-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Republic of Kenya                                              | Republic of Kenya                                                                        | CUSIP: 491798AL8<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |   8237000 | PA      | $6455748.75   | 0.22%             | 2034-01-23      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                 | Community Health Systems, Inc.                                                           | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2275000 | PA      | $1666869.75   | 0.06%             | 2031-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Lebanese Republic                                              | Lebanese Republic                                                                        | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |   3134000 | PA      | $173937.00    | 0.01%             | 2028-11-03      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| African Export-Import Bank (The)                               | African Export-Import Bank (The)                                                         | CUSIP: N/A<br>LEI: 21380068LJCDYA42GJ76       | Long             | DBT              | NUSS              | US        |   2380000 | PA      | $2344300.00   | 0.08%             | 2023-10-11      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Volvo Car AB                                                   | Volvo Car AB                                                                             | CUSIP: N/A<br>LEI: 5299000EAMGGBEYP7J33       | Long             | DBT              | CORP              | SE        |    600000 | PA      | $564270.35    | 0.02%             | 2027-10-07      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2018-KF47, Class B                                          | CUSIP: 30296WAG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    156404 | PA      | $154549.11    | 0.01%             | 2025-05-25      | Floating      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                          | Spectrum Brands, Inc.                                                                    | CUSIP: 84762LAX3<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   2435000 | PA      | $1820162.50   | 0.06%             | 2031-03-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Red Ventures LLC                                               | Red Ventures LLC, 1st Lien Term Loan B                                                   | CUSIP: 75703UAH8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    177814 | PA      | $175813.43    | 0.01%             | 2024-11-08      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| CT Investment GmbH                                             | CT Investment GmbH                                                                       | CUSIP: N/A<br>LEI: 529900VYBTC7HKBCNB72       | Long             | DBT              | CORP              | DE        |   1025000 | PA      | $939448.90    | 0.03%             | 2026-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Elastic NV                                                     | Elastic NV                                                                               | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |    930000 | PA      | $756026.38    | 0.03%             | 2029-07-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                   | MASTR Alternative Loan Trust, Series 2003-5, Class 30B1                                  | CUSIP: 576434FU3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    160597 | PA      | $101427.66    | 0.00%             | 2033-08-25      | Variable      | 5.90%                 | 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      | $-39686.23    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2012-93, Class SG                                                    | CUSIP: 3136A8JN1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    300023 | PA      | $29026.11     | 0.00%             | 2042-09-25      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| Republic of Angola                                             | Republic of Angola                                                                       | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |   4430000 | PA      | $3636199.38   | 0.12%             | 2049-11-26      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                             | United Rentals North America, Inc.                                                       | CUSIP: 911365BG8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    195000 | PA      | $187016.70    | 0.01%             | 2028-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Indonesia Asahan Aluminium Persero PT                          | Indonesia Asahan Aluminium Persero PT                                                    | CUSIP: N/A<br>LEI: 2549008P48EB9SN2OI80       | Long             | DBT              | NUSS              | ID        |    595000 | PA      | $542342.50    | 0.02%             | 2048-11-15      | Fixed         | 6.76%                 | Yes           |                  2 | On Loan: No      |
| Box, Inc.                                                      | Box, Inc.                                                                                | CUSIP: 10316TAB0<br>LEI: 549300KQUCPD8687YS68 | Long             | DBT              | CORP              | US        |   2759000 | PA      | $3292866.50   | 0.11%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4043, Class PI                                                      | CUSIP: 3137APSV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    571009 | PA      | $22752.71     | 0.00%             | 2027-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Alpha Bank SA                                                  | Alpha Bank SA                                                                            | CUSIP: N/A<br>LEI: 213800DBQIB6VBNU5C64       | Long             | DBT              | CORP              | GR        |  10700000 | PA      | $11130901.61  | 0.38%             | 2023-02-05      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Georgia Power Co.                                              | Georgia Power Co., Series A                                                              | CUSIP: 373334KM2<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   8460000 | PA      | $8285572.82   | 0.28%             | 2023-07-30      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| N/A                                                            | Japan 10 Year Bond                                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | JP        |      -203 | NC      | $-217986.73   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2017-K728, Class C                                          | CUSIP: 30305GAU7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1265000 | PA      | $1204946.02   | 0.04%             | 2050-11-25      | Variable      | 3.77%                 | Yes           |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                   | Scotts Miracle-Gro Co. (The)                                                             | CUSIP: 810186AP1<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   1195000 | PA      | $1141511.80   | 0.04%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EC Finance plc                                                 | EC Finance plc                                                                           | CUSIP: N/A<br>LEI: 213800NKPB53RHYDQE45       | Long             | DBT              | CORP              | GB        |   2639000 | PA      | $2498990.51   | 0.09%             | 2026-10-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Leviathan Bond Ltd.                                            | Leviathan Bond Ltd.                                                                      | CUSIP: N/A<br>LEI: 254900D9T8VKYVQNZ220       | Long             | DBT              | CORP              | IL        |   2000720 | PA      | $1950201.82   | 0.07%             | 2027-06-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| VMware, Inc.                                                   | VMware, Inc.                                                                             | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |   3895000 | PA      | $2972801.69   | 0.10%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                   | AbbVie, Inc.                                                                             | CUSIP: 00287YAS8<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    862000 | PA      | $794430.89    | 0.03%             | 2045-05-14      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                        | Fremont Home Loan Trust, Series 2004-2, Class M2                                         | CUSIP: 35729PEE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7068 | PA      | $6957.48      | 0.00%             | 2034-07-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                       | WESCO Distribution, Inc.                                                                 | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126631.25    | 0.00%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| PacifiCorp                                                     | PacifiCorp                                                                               | CUSIP: 695114CX4<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |   1760000 | PA      | $1269073.89   | 0.04%             | 2051-03-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Leviathan Bond Ltd.                                            | Leviathan Bond Ltd.                                                                      | CUSIP: N/A<br>LEI: 254900D9T8VKYVQNZ220       | Long             | DBT              | CORP              | IL        |   2229000 | PA      | $2184141.38   | 0.07%             | 2025-06-30      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                                   | Ardagh Packaging Finance plc                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | IE        |    100000 | PA      | $88458.47     | 0.00%             | 2026-08-15      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                   | Barclays plc                                                                             | CUSIP: 06738EBK0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    305000 | PA      | $274715.91    | 0.01%             | 2030-06-20      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| FREED ABS Trust                                                | FREED ABS Trust, Series 2022-3FP, Class B                                                | CUSIP: 35634EAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7310000 | PA      | $7187719.78   | 0.25%             | 2029-08-20      | Fixed         | 5.79%                 | Yes           |                  3 | On Loan: No      |
| Saipem Finance International BV                                | Saipem Finance International BV                                                          | CUSIP: N/A<br>LEI: 724500V4QZAOY63SY989       | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $1031734.10   | 0.04%             | 2023-09-08      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Apple, Inc.                                                    | Apple, Inc.                                                                              | CUSIP: 037833DD9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   3650000 | PA      | $3115670.37   | 0.11%             | 2047-09-12      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                      | Vistra Operations Co. LLC                                                                | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1126000 | PA      | $1007397.02   | 0.03%             | 2029-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Kenbourne Invest SA                                            | Kenbourne Invest SA                                                                      | CUSIP: 48855KAA8<br>LEI: 222100QGH6Y9KFYZ4B27 | Long             | DBT              | CORP              | LU        |   1715000 | PA      | $1581337.19   | 0.05%             | 2024-11-26      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Kansas City Southern                                           | Kansas City Southern                                                                     | CUSIP: 485170BE3<br>LEI: 5493008C12PZMWP3WY03 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $908668.60    | 0.03%             | 2050-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                          | Sirius XM Radio, Inc.                                                                    | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    251000 | PA      | $233706.10    | 0.01%             | 2029-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                                    | Block, Inc.                                                                              | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    415000 | PA      | $336776.65    | 0.01%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                     | Occidental Petroleum Corp.                                                               | CUSIP: 674599EB7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1740000 | PA      | $1755877.50   | 0.06%             | 2025-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GJF7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   6260000 | PA      | $4880641.68   | 0.17%             | 2031-07-23      | Variable      | 1.90%                 | No            |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                             | Renaissance Home Equity Loan Trust, Series 2005-1, Class AF6                             | CUSIP: 759950FG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     52831 | PA      | $51058.58     | 0.00%             | 2035-05-25      | Variable      | 5.47%                 | No            |                  3 | On Loan: No      |
| United States Steel Corp.                                      | United States Steel Corp.                                                                | CUSIP: 912909AU2<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |    190000 | PA      | $185326.00    | 0.01%             | 2029-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MYT Holding LLC                                                | MYT Holding LLC, Series A                                                                | CUSIP: 55406N202<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    419284 | NS      | $556075.41    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Cedar Fair LP                                                  | Cedar Fair LP                                                                            | CUSIP: 150190AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    710000 | PA      | $707742.20    | 0.02%             | 2025-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc.                                                                          | CUSIP: 172967LZ2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9919427.00   | 0.34%             | 2024-06-01      | Variable      | 4.04%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                              | Clarios Global LP                                                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    998000 | PA      | $976649.69    | 0.03%             | 2027-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Coty, Inc.                                                     | Coty, Inc.                                                                               | CUSIP: 222070AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    420000 | PA      | $373800.00    | 0.01%             | 2029-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc.                                                                          | CUSIP: 172967MS7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   9400000 | PA      | $7703724.88   | 0.26%             | 2031-06-03      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                           | NOVA Chemicals Corp.                                                                     | CUSIP: 66977WAP4<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    570000 | PA      | $536478.30    | 0.02%             | 2025-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                           | GNMA, Series 2011-13, Class S                                                            | CUSIP: 38377TCP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    342419 | PA      | $24144.94     | 0.00%             | 2041-01-16      | Floating      | 2.06%                 | No            |                  2 | On Loan: No      |
| US Auto Funding                                                | US Auto Funding, Series 2021-1A, Class C                                                 | CUSIP: 90355EAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7300000 | PA      | $6906387.65   | 0.24%             | 2026-05-15      | Fixed         | 2.20%                 | Yes           |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                           | NOVA Chemicals Corp.                                                                     | CUSIP: 66977WAR0<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |   1033000 | PA      | $927197.01    | 0.03%             | 2027-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                       | Bausch Health Cos., Inc.                                                                 | CUSIP: 91911KAP7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    643000 | PA      | $462960.00    | 0.02%             | 2025-12-15      | Fixed         | 9.00%                 | 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      | $321159.19    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hilton Worldwide Finance LLC                                   | Hilton Worldwide Finance LLC                                                             | CUSIP: 432891AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1611000 | PA      | $1549572.57   | 0.05%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                             | Banco Santander SA                                                                       | CUSIP: 05971KAK5<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   6000000 | PA      | $5805496.50   | 0.20%             | 2024-06-30      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                  | Netflix, Inc.                                                                            | CUSIP: N/A<br>LEI: 549300Y7VHGU0I7CE873       | Long             | DBT              | CORP              | US        |   1000000 | PA      | $972648.83    | 0.03%             | 2030-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                   | Verizon Communications, Inc.                                                             | CUSIP: 92343VFR0<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   3960000 | PA      | $3101744.76   | 0.11%             | 2031-01-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ESC Co.                                                        | ESC Co., Escrow                                                                          | CUSIP: 458ESCAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    902000 | PA      | $90.20        | 0.00%             | 2023-08-01      | Fixed         | 5.50%                 | No            |                  3 | On Loan: No      |
| T-Mobile USA, Inc.                                             | T-Mobile USA, Inc.                                                                       | CUSIP: 87264ABS3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1009000 | PA      | $858925.28    | 0.03%             | 2029-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Silgan Holdings, Inc.                                          | Silgan Holdings, Inc.                                                                    | CUSIP: N/A<br>LEI: KAF673KJXD92C8KSLU49       | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2130514.82   | 0.07%             | 2025-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2017-K728, Class B                                          | CUSIP: 30305GAS2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   4200000 | PA      | $4039366.80   | 0.14%             | 2050-11-25      | Variable      | 3.77%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                                   | Oracle Corp.                                                                             | CUSIP: 68389XCE3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1413580.39   | 0.05%             | 2031-03-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                             | Dominican Republic Government Bond                                                       | CUSIP: 25714PDJ4<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |   4620000 | PA      | $4668510.00   | 0.16%             | 2026-01-29      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                             | T-Mobile USA, Inc.                                                                       | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    708000 | PA      | $563577.07    | 0.02%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                   | Barclays plc                                                                             | CUSIP: 06738EBQ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   5785000 | PA      | $5470519.42   | 0.19%             | 2024-12-10      | Variable      | 1.01%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5050000 | PA      | $4055698.78   | 0.14%             | 2032-10-21      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                     | AerCap Ireland Capital DAC                                                               | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   2141000 | PA      | $1808908.18   | 0.06%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                                  | Staples, Inc., 1st Lien Term Loan                                                        | CUSIP: 855031AQ3<br>LEI: XQM2JINI1UL7642TU573 | Long             | LON              | CORP              | US        |     63144 | PA      | $56204.78     | 0.00%             | 2026-04-16      | Variable      | 7.78%                 | No            |                  2 | On Loan: No      |
| Audacy Capital Corp.                                           | Audacy Capital Corp.                                                                     | CUSIP: 29365DAB5<br>LEI: 549300S5JUSXRHNCHD80 | Long             | DBT              | CORP              | US        |    185000 | PA      | $41754.50     | 0.00%             | 2029-03-31      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Guara Norte SARL                                               | Guara Norte SARL                                                                         | CUSIP: 400666AA1<br>LEI: 549300U2I4L03BBA3485 | Long             | DBT              | CORP              | LU        |   4030126 | PA      | $3313015.25   | 0.11%             | 2034-06-15      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                            | Connecticut Avenue Securities Trust, Series 2019-R07, Class 1M2                          | CUSIP: 20753WAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    251522 | PA      | $250578.86    | 0.01%             | 2039-10-25      | Floating      | 6.12%                 | Yes           |                  3 | On Loan: No      |
| CIG Auto Receivables Trust                                     | CIG Auto Receivables Trust, Series 2019-1A, Class C                                      | CUSIP: 125504AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    638132 | PA      | $637396.59    | 0.02%             | 2024-08-15      | Fixed         | 3.82%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                | Goldman Sachs Group, Inc. (The)                                                          | CUSIP: 38141GZK3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4540000 | PA      | $4050302.25   | 0.14%             | 2028-02-24      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                     | AT&T, Inc.                                                                               | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   3980000 | PA      | $2810353.94   | 0.10%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                                     | Sensata Technologies, Inc.                                                               | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    286000 | PA      | $237881.93    | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                     | Occidental Petroleum Corp.                                                               | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1005000 | PA      | $1151981.25   | 0.04%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                      | Standard Industries, Inc.                                                                | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   3900000 | PA      | $3534628.50   | 0.12%             | 2028-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Nidda BondCo GmbH                                              | Nidda BondCo GmbH                                                                        | CUSIP: N/A<br>LEI: 391200JPUEK6AMI9PQ76       | Long             | DBT              | CORP              | DE        |   2825000 | PA      | $2455615.44   | 0.08%             | 2025-09-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive plc                               | Jaguar Land Rover Automotive plc                                                         | CUSIP: N/A<br>LEI: 529900L73GEWN1O5NH84       | Long             | DBT              | CORP              | GB        |    500000 | PA      | $462153.36    | 0.02%             | 2026-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| NTPC Ltd.                                                      | NTPC Ltd.                                                                                | CUSIP: N/A<br>LEI: 335800Q4TRGJXNLVMB81       | Long             | DBT              | NUSS              | IN        |   2540000 | PA      | $2474595.00   | 0.08%             | 2024-04-03      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                | CHL Mortgage Pass-Through Trust, Series 2007-16, Class A1                                | CUSIP: 12544MAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    946919 | PA      | $471955.11    | 0.02%             | 2037-10-25      | 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      | $-209963.91   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                             | Vodafone Group plc                                                                       | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | DBT              | CORP              | GB        |    616000 | PA      | $570498.55    | 0.02%             | 2080-08-27      | Variable      | 2.62%                 | Yes           |                  2 | On Loan: No      |
| AthenaHealth Group, Inc.                                       | AthenaHealth Group, Inc.                                                                 | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |    560000 | PA      | $419385.12    | 0.01%             | 2030-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                               | CSC Holdings LLC                                                                         | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    725000 | PA      | $493725.00    | 0.02%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Moran Foods Backstop Equity                                    | Moran Foods Backstop Equity                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22804 | NS      | $57010.20     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| OneMain Finance Corp.                                          | OneMain Finance Corp.                                                                    | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1627000 | PA      | $1576229.47   | 0.05%             | 2026-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Lamar Media Corp.                                              | Lamar Media Corp.                                                                        | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $161540.15    | 0.01%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Crestwood Midstream Partners LP                                | Crestwood Midstream Partners LP                                                          | CUSIP: 226373AP3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    910000 | PA      | $887137.19    | 0.03%             | 2025-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Cedar Fair LP                                                  | Cedar Fair LP                                                                            | CUSIP: 150190AE6<br>LEI: 549300TUVLNQQ6BVKH61 | Long             | DBT              | CORP              | US        |   1134000 | PA      | $990636.37    | 0.03%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Solvay Finance SACA                                            | Solvay Finance SACA                                                                      | CUSIP: N/A<br>LEI: 549300850GMPCX5CK282       | Long             | DBT              | CORP              | FR        |   2071000 | PA      | $2147970.84   | 0.07%             | 2023-11-12      | Variable      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| Leonardo SpA                                                   | Leonardo SpA                                                                             | CUSIP: N/A<br>LEI: 529900X4EEX1U9LN3U39       | Long             | DBT              | CORP              | IT        |   2300000 | PA      | $2439620.12   | 0.08%             | 2025-03-24      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Altice France Holding SA                                       | Altice France Holding SA                                                                 | CUSIP: N/A<br>LEI: 5299000JVHXKJPOE6H40       | Long             | DBT              | CORP              | LU        |   2823000 | PA      | $2230471.42   | 0.08%             | 2027-05-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Enel Finance International NV                                  | Enel Finance International NV                                                            | CUSIP: 29278GAF5<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   3665000 | PA      | $3227504.70   | 0.11%             | 2028-04-06      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| CD Mortgage Trust                                              | CD Mortgage Trust, Series 2016-CD2, Class C                                              | CUSIP: 12515ABJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    303000 | PA      | $247931.27    | 0.01%             | 2049-11-10      | Variable      | 4.11%                 | No            |                  3 | On Loan: No      |
| Moran Foods LLC                                                | Moran Foods LLC, 1st Lien Term Loan B                                                    | CUSIP: 61647DAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    431908 | PA      | $346964.43    | 0.01%             | 2024-04-01      | Variable      | 10.67%                | No            |                  3 | On Loan: No      |
| Faurecia SE                                                    | Faurecia SE                                                                              | CUSIP: N/A<br>LEI: 969500F0VMZLK2IULV85       | Long             | DBT              | CORP              | FR        |    700000 | PA      | $632887.72    | 0.02%             | 2028-06-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                   | Royal Caribbean Cruises Ltd.                                                             | CUSIP: 780153BS0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    435000 | PA      | $441568.50    | 0.02%             | 2029-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                             | T-Mobile USA, Inc.                                                                       | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   2471000 | PA      | $2048789.42   | 0.07%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4585, Class JI                                                      | CUSIP: 3137BPGA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1391124 | PA      | $207323.65    | 0.01%             | 2045-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                       | Avis Budget Rental Car Funding AESOP LLC, Series 2019-2A, Class C                        | CUSIP: 05377RDN1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    810000 | PA      | $770589.05    | 0.03%             | 2025-09-22      | Fixed         | 4.24%                 | Yes           |                  2 | On Loan: No      |
| Orano SA                                                       | Orano SA                                                                                 | CUSIP: N/A<br>LEI: 969500161UMNDC85C891       | Long             | DBT              | CORP              | FR        |   1200000 | PA      | $1269623.58   | 0.04%             | 2024-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara      | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara                                | CUSIP: 71568QAM9<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | NUSS              | ID        |    879000 | PA      | $639472.50    | 0.02%             | 2050-02-05      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Envision Healthcare Corp.                                      | Envision Healthcare Corp., 1st Lien Term Loan                                            | CUSIP: 29373UAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    321714 | PA      | $71848.44     | 0.00%             | 2027-03-31      | Variable      | 7.49%                 | No            |                  2 | On Loan: No      |
| Endo Dac                                                       | Endo Dac                                                                                 | CUSIP: 29273DAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    308000 | PA      | $14820.96     | 0.00%             | 2028-06-30      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Moran Foods LLC                                                | Moran Foods LLC, Tranche A 2nd Lien Term Loan                                            | CUSIP: 61647DAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    454585 | PA      | $263659.50    | 0.01%             | 2024-10-01      | Variable      | 14.42%                | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                         | Freeport-McMoRan, Inc.                                                                   | CUSIP: 35671DCF0<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   1303000 | PA      | $1160473.73   | 0.04%             | 2030-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                   | ING Groep NV                                                                             | CUSIP: 456837BA0<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   4745000 | PA      | $4558156.66   | 0.16%             | 2026-03-28      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                             | United Rentals North America, Inc.                                                       | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    438000 | PA      | $376815.78    | 0.01%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, REMIC, Series 4372, Class SY                                                      | CUSIP: 3137BDAK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    476848 | PA      | $45353.54     | 0.00%             | 2044-08-15      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                                    | Adient Global Holdings Ltd.                                                              | CUSIP: 00687YAA3<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    700000 | PA      | $653387.00    | 0.02%             | 2026-08-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                           | FREMF Mortgage Trust, Series 2018-KF42, Class B                                          | CUSIP: 30306MAG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    647445 | PA      | $631507.66    | 0.02%             | 2024-12-25      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2965000 | PA      | $2871044.49   | 0.10%             | 2025-06-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                                         | Tesla Auto Lease Trust, Series 2021-A, Class D                                           | CUSIP: 88161FAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3826000 | PA      | $3604999.91   | 0.12%             | 2025-03-20      | Fixed         | 1.34%                 | Yes           |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                | Santander UK Group Holdings plc                                                          | CUSIP: 80281LAQ8<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   5200000 | PA      | $4410349.53   | 0.15%             | 2027-06-14      | Variable      | 1.67%                 | No            |                  2 | On Loan: No      |
| Parts Europe SA                                                | Parts Europe SA                                                                          | CUSIP: N/A<br>LEI: 969500DL3O9K7T2M4M15       | Long             | DBT              | CORP              | FR        |   1256000 | PA      | $1313528.58   | 0.04%             | 2025-07-16      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| UniCredit SpA                                                  | UniCredit SpA                                                                            | CUSIP: 904678AY5<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   2370000 | PA      | $1801436.72   | 0.06%             | 2032-06-03      | Variable      | 3.13%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                               | Boeing Co. (The)                                                                         | CUSIP: 097023CE3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $1813786.73   | 0.06%             | 2039-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2012-133, Class NS                                                   | CUSIP: 3136AAZZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3082731 | PA      | $317854.84    | 0.01%             | 2042-12-25      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Serbia International Bond                                      | Republic of Serbia                                                                       | CUSIP: N/A<br>LEI: 254900W94OCY91V32O78       | Long             | DBT              | NUSS              | RS        |   3130000 | PA      | $2436294.36   | 0.08%             | 2029-06-26      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: N/A<br>LEI: UDSQCVRUX5BONN0VY111       | Long             | DBT              | CORP              | US        |    846000 | PA      | $962286.67    | 0.03%             | 2024-06-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Commscope, Inc.                                                | Commscope, Inc., 1st Lien Term Loan B-2                                                  | CUSIP: 20337EAQ4<br>LEI: 724500R0MD16646Q8383 | Long             | LON              | CORP              | NL        |    572300 | PA      | $549230.59    | 0.02%             | 2026-04-06      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                             | Vodafone Group plc                                                                       | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | DBT              | CORP              | GB        |   2200000 | PA      | $2232087.02   | 0.08%             | 2079-01-03      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| Trinseo Materials Operating SCA                                | Trinseo Materials Operating SCA                                                          | CUSIP: 89668QAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    946000 | PA      | $757982.50    | 0.03%             | 2025-09-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                    | IQVIA, Inc.                                                                              | CUSIP: N/A<br>LEI: 549300PLWY28YB00C717       | Long             | DBT              | CORP              | US        |   2699000 | PA      | $2527721.48   | 0.09%             | 2028-06-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                     | iHeartCommunications, Inc.                                                               | CUSIP: 45174HBE6<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1015249.80   | 0.03%             | 2027-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                        | Level 3 Financing, Inc.                                                                  | CUSIP: 527298BN2<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1621812.50   | 0.06%             | 2027-09-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                            | Medline Borrower LP                                                                      | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $884275.00    | 0.03%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Genesys Telecom Holdings US, Inc.                              | Genesys Telecom Holdings US, Inc., 1st Lien Term Loan B                                  | CUSIP: 39479UAQ6<br>LEI: 549300CVRD4OUCPHWQ42 | Long             | LON              | CORP              | US        |   2715141 | PA      | $2632003.68   | 0.09%             | 2027-12-01      | Variable      | 7.86%                 | No            |                  2 | On Loan: No      |
| William Carter Co. (The)                                       | William Carter Co. (The)                                                                 | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |    752000 | PA      | $721162.83    | 0.02%             | 2027-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                      | Standard Industries, Inc.                                                                | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     34000 | PA      | $31288.89     | 0.00%             | 2027-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                  | Six Flags Entertainment Corp.                                                            | CUSIP: 83001AAC6<br>LEI: 549300JYTDUAA4JQ3717 | Long             | DBT              | CORP              | US        |   4110000 | PA      | $3711083.40   | 0.13%             | 2027-04-15      | Fixed         | 5.50%                 | 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      | $-405723.71   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BK LC Lux Finco1 SARL                                          | BK LC Lux Finco1 SARL                                                                    | CUSIP: N/A<br>LEI: 5299004DSXRFOZZ5UG09       | Long             | DBT              | CORP              | LU        |    700000 | PA      | $648293.81    | 0.02%             | 2029-04-30      | Fixed         | 5.25%                 | 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      | $59247.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tekni-Plex, Inc.                                               | Tekni-Plex, Inc., Delayed Draw Term Loan B                                               | CUSIP: 00216EAF6<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |    105400 | PA      | $101014.52    | 0.00%             | 2028-09-15      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC                         | Ardagh Metal Packaging Finance USA LLC                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    990000 | PA      | $834766.20    | 0.03%             | 2028-09-01      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Amazon.com, Inc.                                               | Amazon.com, Inc.                                                                         | CUSIP: 023135BU9<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   1465000 | PA      | $926328.71    | 0.03%             | 2060-06-03      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Renault SA                                                     | Renault SA                                                                               | CUSIP: N/A<br>LEI: 969500F7JLTX36OUI695       | Long             | DBT              | CORP              | FR        |   1500000 | PA      | $1426572.08   | 0.05%             | 2025-06-24      | Fixed         | 1.25%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                           | Frontier Communications Holdings LLC                                                     | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1869000.00   | 0.06%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AI Candelaria Spain SA                                         | AI Candelaria Spain SA                                                                   | CUSIP: N/A<br>LEI: 213800L5KA2MJ5FKRZ02       | Long             | DBT              | CORP              | ES        |   1200000 | PA      | $1119000.00   | 0.04%             | 2028-12-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Sprint LLC                                                     | Sprint LLC                                                                               | CUSIP: 85207UAJ4<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   2712000 | PA      | $2809154.69   | 0.10%             | 2025-02-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                            | Euro-Bund                                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |      -959 | NC      | $-3261673.76  | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| ams-OSRAM AG                                                   | ams-OSRAM AG                                                                             | CUSIP: N/A<br>LEI: 5299001JPPT2QFTV5D76       | Long             | DBT              | CORP              | AT        |   2000000 | PA      | $1422708.33   | 0.05%             | 2027-11-03      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| Diamondback Energy, Inc.                                       | Diamondback Energy, Inc.                                                                 | CUSIP: 25278XAR0<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |   3145000 | PA      | $2646639.21   | 0.09%             | 2031-03-24      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                              | NatWest Group plc                                                                        | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | DBT              | CORP              | GB        |   3159000 | PA      | $3193443.96   | 0.11%             | 2027-05-12      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                                         | Keurig Dr Pepper, Inc.                                                                   | CUSIP: 49271VAP5<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   3765000 | PA      | $3542060.95   | 0.12%             | 2029-04-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2013-5, Class BI                                                     | CUSIP: 3136ABE58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2725 | PA      | $6.17         | 0.00%             | 2040-03-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                             | VICI Properties LP                                                                       | CUSIP: 92564RAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $212282.21    | 0.01%             | 2030-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust             | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C14, Class C             | CUSIP: 61690GAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    364000 | PA      | $350633.77    | 0.01%             | 2047-02-15      | Variable      | 5.23%                 | No            |                  3 | On Loan: No      |
| BANK                                                           | BANK, Series 2019-BN20, Class C                                                          | CUSIP: 06540AAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2556000 | PA      | $1991968.25   | 0.07%             | 2062-09-15      | Variable      | 3.78%                 | No            |                  3 | On Loan: No      |
| Live Nation Entertainment, Inc.                                | Live Nation Entertainment, Inc.                                                          | CUSIP: 538034AK5<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1643897.90   | 0.06%             | 2024-11-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| CDW LLC                                                        | CDW LLC                                                                                  | CUSIP: 12513GBD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3686000 | PA      | $3330116.70   | 0.11%             | 2028-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Claire's Stores, Inc.                                          | Claire's Stores, Inc.                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       971 | NS      | $2184750.00   | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| Altice France SA                                               | Altice France SA                                                                         | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1745000 | PA      | $1399385.30   | 0.05%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Netflix, Inc.                                                  | Netflix, Inc.                                                                            | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    375000 | PA      | $378828.75    | 0.01%             | 2028-11-15      | Fixed         | 5.88%                 | 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      | $810.82       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                          | Prestige Brands, Inc.                                                                    | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1196975.00   | 0.04%             | 2028-01-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Constellium SE                                                 | Constellium SE                                                                           | CUSIP: 21039CAA2<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    930000 | PA      | $850440.58    | 0.03%             | 2028-06-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA                          | Banque Federative du Credit Mutuel SA                                                    | CUSIP: 06675FAR8<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   7670000 | PA      | $7593752.15   | 0.26%             | 2023-07-20      | Fixed         | 3.75%                 | 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        |       877 | NC      | $578683.70    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Grifols SA                                                     | Grifols SA                                                                               | CUSIP: N/A<br>LEI: 959800HSSNXWRKBK4N60       | Long             | DBT              | CORP              | ES        |   1580000 | PA      | $1537094.25   | 0.05%             | 2025-02-15      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| ON Semiconductor Corp.                                         | ON Semiconductor Corp.                                                                   | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |   2456000 | PA      | $2177710.64   | 0.07%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen Leasing GmbH                                        | Volkswagen Leasing GmbH                                                                  | CUSIP: N/A<br>LEI: 5299004GLEUX88BSNB74       | Long             | DBT              | CORP              | DE        |   3100000 | PA      | $2596494.73   | 0.09%             | 2029-07-19      | Fixed         | 0.62%                 | Yes           |                  2 | On Loan: No      |
| State of Israel                                                | State of Israel Government Bond                                                          | CUSIP: 46513JXN6<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |   7840000 | PA      | $5969670.00   | 0.20%             | 2050-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Duquesne Light Holdings, Inc.                                  | Duquesne Light Holdings, Inc.                                                            | CUSIP: 266233AJ4<br>LEI: 4CUJ1D8WDXK9X7QI6B93 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1505851.37   | 0.05%             | 2032-01-07      | Fixed         | 2.77%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                                    | Block, Inc.                                                                              | CUSIP: 852234AJ2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   3185000 | PA      | $2555962.50   | 0.09%             | 2026-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ineos US Finance LLC                                           | Ineos US Finance LLC, 1st Lien Term Loan B                                               | CUSIP: 45672JAL4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    245633 | PA      | $234797.97    | 0.01%             | 2028-11-08      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC                                                 | 1011778 BC ULC                                                                           | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1840000 | PA      | $1642176.96   | 0.06%             | 2028-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Jamaica                                                        | Jamaica Government Bond                                                                  | CUSIP: 470160AV4<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |   1396000 | PA      | $1587775.50   | 0.05%             | 2039-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                               | NRG Energy, Inc.                                                                         | CUSIP: 629377CK6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   3480000 | PA      | $3363193.14   | 0.11%             | 2024-06-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| eDreams ODIGEO SA                                              | eDreams ODIGEO SA                                                                        | CUSIP: N/A<br>LEI: 959800Y8LQ5MR2YZ4N96       | Long             | DBT              | CORP              | ES        |   1507000 | PA      | $1278070.13   | 0.04%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                          | NextEra Energy Capital Holdings, Inc.                                                    | CUSIP: 65339KBR0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2499000 | PA      | $2073059.14   | 0.07%             | 2030-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                         | Santander Drive Auto Receivables Trust, Series 2022-6, Class A2                          | CUSIP: 802918AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1647000 | PA      | $1637127.22   | 0.06%             | 2025-05-15      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2012-145, Class EI                                                   | CUSIP: 3136AAZ65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    552140 | PA      | $28980.28     | 0.00%             | 2028-01-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                          | Spectrum Brands, Inc.                                                                    | CUSIP: N/A<br>LEI: 549300VU3EH2E73C1Q04       | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1330002.53   | 0.05%             | 2026-10-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Entergy Texas, Inc.                                            | Entergy Texas, Inc.                                                                      | CUSIP: 29365TAK0<br>LEI: LWXX58X12AJXISQ28573 | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1059476.97   | 0.04%             | 2031-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CDW LLC                                                        | CDW LLC                                                                                  | CUSIP: 12513GBF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    143000 | PA      | $121261.14    | 0.00%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Edison International                                           | Edison International                                                                     | CUSIP: 281020AQ0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    839000 | PA      | $807423.19    | 0.03%             | 2024-11-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| NCR Corp.                                                      | NCR Corp.                                                                                | CUSIP: 62886EAV0<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   2290000 | PA      | $2221300.00   | 0.08%             | 2029-09-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                                      | HCA, Inc.                                                                                | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    990000 | PA      | $985518.88    | 0.03%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FirstKey Homes Trust                                           | FirstKey Homes Trust, Series 2020-SFR2, Class F1                                         | CUSIP: 33767JAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2603667.30   | 0.09%             | 2037-10-19      | Fixed         | 3.02%                 | Yes           |                  3 | On Loan: No      |
| BX Trust                                                       | BX Trust, Series 2022-LBA6, Class A                                                      | CUSIP: 12433EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10375000 | PA      | $9932440.89   | 0.34%             | 2039-01-15      | Floating      | 4.79%                 | Yes           |                  2 | On Loan: No      |
| Thermo Fisher Scientific, Inc.                                 | Thermo Fisher Scientific, Inc.                                                           | CUSIP: 883556CC4<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    200000 | PA      | $171440.52    | 0.01%             | 2031-10-01      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                  | Centene Corp.                                                                            | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   3680000 | PA      | $3421792.80   | 0.12%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                          | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K089, Class X3          | CUSIP: 3137FL6S8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11650394 | PA      | $1322261.47   | 0.05%             | 2046-01-25      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| UniCredit SpA                                                  | UniCredit SpA                                                                            | CUSIP: 904678AW9<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   2806000 | PA      | $2377587.05   | 0.08%             | 2027-06-03      | Variable      | 1.98%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                       | Bausch Health Cos., Inc.                                                                 | CUSIP: 071734AC1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     29000 | PA      | $18845.41     | 0.00%             | 2027-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| La Financiere Atalian SASU                                     | La Financiere Atalian SASU                                                               | CUSIP: N/A<br>LEI: 969500ICOLJMB33J0L87       | Long             | DBT              | CORP              | FR        |    500000 | PA      | $446157.25    | 0.02%             | 2024-05-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Schaeffler AG                                                  | Schaeffler AG                                                                            | CUSIP: N/A<br>LEI: 549300Q7E782X7GC1P43       | Long             | DBT              | CORP              | DE        |   2800000 | PA      | $2753602.44   | 0.09%             | 2027-03-26      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Mid-State Capital Corp. Trust                                  | Mid-State Capital Corp. Trust, Series 2006-1, Class M2                                   | CUSIP: 59548PAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     69993 | PA      | $68095.39     | 0.00%             | 2040-10-15      | Fixed         | 6.74%                 | Yes           |                  3 | On Loan: No      |
| KBC Group NV                                                   | KBC Group NV                                                                             | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | DBT              | CORP              | BE        |   1400000 | PA      | $1405850.61   | 0.05%             | 2024-03-05      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| ContourGlobal Power Holdings SA                                | ContourGlobal Power Holdings SA                                                          | CUSIP: N/A<br>LEI: 549300O5AGIFK0PQ1516       | Long             | DBT              | CORP              | LU        |    700000 | PA      | $637367.51    | 0.02%             | 2026-01-01      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| FREMF                                                          | FREMF, Series 2018-KF46, Class B                                                         | CUSIP: 302955AC3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    804627 | PA      | $785103.17    | 0.03%             | 2028-03-25      | Floating      | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                            | Post Holdings, Inc.                                                                      | CUSIP: 737446AM6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    176000 | PA      | $171572.72    | 0.01%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, REMIC, Series 2019-42, Class SK                                                    | CUSIP: 3136B5VS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3717984 | PA      | $411235.01    | 0.01%             | 2049-08-25      | Floating      | 2.03%                 | No            |                  2 | On Loan: No      |
| Fiserv, Inc.                                                   | Fiserv, Inc.                                                                             | CUSIP: 337738AY4<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4425193.16   | 0.15%             | 2030-07-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                                   | Oriental Republic of Uruguay                                                             | CUSIP: 760942BA9<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    456752 | PA      | $454468.24    | 0.02%             | 2050-06-18      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Huarong Finance 2019 Co. Ltd.                                  | Huarong Finance 2019 Co. Ltd.                                                            | CUSIP: N/A<br>LEI: 549300M6T6OW4AGYHK10       | Long             | DBT              | CORP              | VG        |   1860000 | PA      | $1720500.00   | 0.06%             | 2024-05-29      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                      | Ford Motor Credit Co. LLC                                                                | CUSIP: 345397A45<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   6125000 | PA      | $5667401.25   | 0.19%             | 2027-01-09      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                          | Bank of America Corp.                                                                    | CUSIP: 06051GJZ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1875000 | PA      | $1582669.16   | 0.05%             | 2029-06-14      | Variable      | 2.09%                 | 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      | $-12297018.35 | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| Assicurazioni Generali SpA                                     | Assicurazioni Generali SpA                                                               | CUSIP: N/A<br>LEI: 549300X5UKJVE386ZB61       | Long             | DBT              | CORP              | IT        |   1200000 | PA      | $1269024.20   | 0.04%             | 2047-10-27      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| TripAdvisor, Inc.                                              | TripAdvisor, Inc.                                                                        | CUSIP: 896945AA0<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |   2317000 | PA      | $2288308.29   | 0.08%             | 2025-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| IRB Holding Corp.                                              | IRB Holding Corp., 1st Lien Term Loan B                                                  | CUSIP: 44988LAH0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    867418 | PA      | $833588.53    | 0.03%             | 2027-12-15      | Variable      | 6.89%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                       | Republic of South Africa                                                                 | CUSIP: 836205AU8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   5530000 | PA      | $4998774.38   | 0.17%             | 2028-10-12      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                 | Carnival Corp.                                                                           | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    870000 | PA      | $617700.00    | 0.02%             | 2029-05-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                       | Bausch Health Cos., Inc.                                                                 | CUSIP: 071734AH0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    610000 | PA      | $249654.55    | 0.01%             | 2028-01-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                 | Morgan Stanley                                                                           | CUSIP: 6174468W2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   5838000 | PA      | $5781909.90   | 0.20%             | 2024-01-25      | Variable      | 0.53%                 | No            |                  2 | On Loan: No      |
| Summit Midstream Holdings LLC                                  | Summit Midstream Holdings LLC                                                            | CUSIP: 86614WAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $527877.08    | 0.02%             | 2026-10-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Huarong Finance 2017 Co. Ltd.                                  | Huarong Finance 2017 Co. Ltd.                                                            | CUSIP: N/A<br>LEI: 5493006V07LYI3HE6G83       | Long             | DBT              | CORP              | VG        |   3620000 | PA      | $2959350.00   | 0.10%             | 2027-11-07      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Finance Department Government of Sharjah                       | Finance Department Government of Sharjah                                                 | CUSIP: 38381CAB8<br>LEI: 254900ZNL8O3F1CLJO24 | Long             | DBT              | NUSS              | AE        |   6850000 | PA      | $4246143.75   | 0.14%             | 2050-07-28      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** JPMorgan Trust I

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer