# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0001752724-25-180634
**Filing Date:** 2025-7
**Character Count:** 187379
**Document Hash:** 207ca002e4d684b0ceb9f4c537ed3b5e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-180634.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001752724-25-180634

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**PERIOD START**: 20260228

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21295
- **FILM NUMBER:** 251154583

**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 Floating Rate Income Fund (Series ID: S000032548)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000100362 | Class A      | JPHAX           |
| C000100363 | Class C      | JPHCX           |
| C000100364 | Class I      | JPHSX           |
| C000132280 | Class R6     | JPHRX           |

## Nport-Ex

**JPMorgan Floating Rate Income Fund**

**Schedule of Portfolio Investments as of May 31, 2025**

**(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., 2025. |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE** <br>**($000)**<br>|
| **Loan Assignments — 84.6% (a)** | **Loan Assignments — 84.6% (a)** | **Loan Assignments — 84.6% (a)** |
| **Aerospace & Defense — 2.1%** | **Aerospace & Defense — 2.1%** | **Aerospace & Defense — 2.1%** |
| &nbsp;&nbsp;&nbsp; Bleriot US Bidco, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.75%), 7.05%, 10/31/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 794 | &nbsp;&nbsp;&nbsp;&nbsp; 794 |
| &nbsp;&nbsp;&nbsp; GOAT Holdco LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.00%), 7.33%, 1/27/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 697 |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.50%), 8.78%, 1/15/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 775 | &nbsp;&nbsp;&nbsp;&nbsp; 775 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc., 1st Lien Term Loan J (3-MONTH CME TERM SOFR + 2.50%), 6.80%, 2/28/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1152 | &nbsp;&nbsp;&nbsp;&nbsp; 1152 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc., 1st Lien Term Loan K (3-MONTH CME TERM SOFR + 2.75%), 7.05%, 3/22/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 681 | &nbsp;&nbsp;&nbsp;&nbsp; 683 |
| &nbsp;&nbsp;&nbsp; Vertex Aerospace Services Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 12/6/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 571 | &nbsp;&nbsp;&nbsp;&nbsp; 569 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4670 |
| **Automobile Components — 2.2%** | **Automobile Components — 2.2%** | **Automobile Components — 2.2%** |
| &nbsp;&nbsp;&nbsp; Adient US LLC, 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 1/31/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1693 | &nbsp;&nbsp;&nbsp;&nbsp; 1684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3%; 6-MONTH CME TERM SOFR + <br> 3%), 7.11%, 12/13/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 990 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP, 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 2.50%), 6.83%, 5/6/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 2.75%), 7.08%, 1/28/2032 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 590 | &nbsp;&nbsp;&nbsp;&nbsp; 588 |
| &nbsp;&nbsp;&nbsp; DexKo Global, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 8.19%, 10/4/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1272 | &nbsp;&nbsp;&nbsp;&nbsp; 1213 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4965 |
| **Beverages — 0.9%** | **Beverages — 0.9%** | **Beverages — 0.9%** |
| &nbsp;&nbsp;&nbsp; Naked Juice LLC, 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 3.25%), 7.56%, 1/24/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 509 | &nbsp;&nbsp;&nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 6.00%), 10.31%, 1/24/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 508 | &nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 6.55%, 3/31/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1406 | &nbsp;&nbsp;&nbsp;&nbsp; 1406 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1944 |
| **Broadline Retail — 0.5%** | **Broadline Retail — 0.5%** | **Broadline Retail — 0.5%** |
| &nbsp;&nbsp;&nbsp; Shutterfly Finance LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 6.00%), 10.28%, 10/1/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp;&nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp; Shutterfly Finance LLC, 2nd Lien Term Loan (1-MONTH CME TERM SOFR + 1.00%), 5.32%, 10/1/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 991 | &nbsp;&nbsp;&nbsp;&nbsp; 870 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1087 |
| **Building Products — 3.5%** | **Building Products — 3.5%** | **Building Products — 3.5%** |
| &nbsp;&nbsp;&nbsp; ACProducts Holdings, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.25%), 8.81%, 5/17/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 654 | &nbsp;&nbsp;&nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp; AZZ, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.83%, 5/14/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 936 | &nbsp;&nbsp;&nbsp;&nbsp; 938 |
| &nbsp;&nbsp;&nbsp; Chariot Buyer LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 7.68%, 11/3/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1110 | &nbsp;&nbsp;&nbsp;&nbsp; 1105 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.50%), 6.80%, 8/4/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 789 | &nbsp;&nbsp;&nbsp;&nbsp; 784 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP, 1st Lien Term Loan B (6-MONTH CME TERM SOFR + 2.50%), 6.93%, 5/31/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1040 | &nbsp;&nbsp;&nbsp;&nbsp; 1034 |
| &nbsp;&nbsp;&nbsp; Griffon Corp., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.25%), 6.57%, 1/24/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 482 | &nbsp;&nbsp;&nbsp;&nbsp; 481 |
| &nbsp;&nbsp;&nbsp; MIWD Holdco II LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 7.33%, 3/28/2031 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1266 | &nbsp;&nbsp;&nbsp;&nbsp; 1262 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 3/19/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1212 | &nbsp;&nbsp;&nbsp;&nbsp; 1211 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc., 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 2/10/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 557 | &nbsp;&nbsp;&nbsp;&nbsp; 555 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7850 |
| **Capital Markets — 0.7%** | **Capital Markets — 0.7%** | **Capital Markets — 0.7%** |
| &nbsp;&nbsp;&nbsp; CPI Holdco B LLC, 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 2.00%), 6.33%, 5/19/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1015 | &nbsp;&nbsp;&nbsp;&nbsp; 1013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 2.25%), 6.58%, 5/19/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp;&nbsp;&nbsp; 469 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1482 |
| **Chemicals — 1.5%** | **Chemicals — 1.5%** | **Chemicals — 1.5%** |
| &nbsp;&nbsp;&nbsp; Ecovyst Catalyst Technologies LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%), 6.28%, 6/12/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1134 | &nbsp;&nbsp;&nbsp;&nbsp; 1126 |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **Chemicals — continued** | **Chemicals — continued** | **Chemicals — continued** |
| &nbsp;&nbsp;&nbsp; INEOS US Finance LLC, 1st Lien Term Loan (Luxembourg) (1-MONTH CME TERM SOFR + 3.25%), 7.58%, 2/18/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1454 | &nbsp;&nbsp;&nbsp;&nbsp; 1404 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 7.55%, 9/22/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 918 | &nbsp;&nbsp;&nbsp;&nbsp; 914 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3444 |
| **Commercial Services & Supplies — 6.2%** | **Commercial Services & Supplies — 6.2%** | **Commercial Services & Supplies — 6.2%** |
| &nbsp;&nbsp;&nbsp; Acuren Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 7.07%, 7/30/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1138 | &nbsp;&nbsp;&nbsp;&nbsp; 1137 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 8.18%, 5/12/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1037 | &nbsp;&nbsp;&nbsp;&nbsp; 1038 |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 6.08%, 1/3/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 905 | &nbsp;&nbsp;&nbsp;&nbsp; 906 |
| &nbsp;&nbsp;&nbsp; BIFM CA Buyer, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 8.08%, 5/31/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 574 | &nbsp;&nbsp;&nbsp;&nbsp; 574 |
| &nbsp;&nbsp;&nbsp; Camelot US Acquisition LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.75%), 7.08%, 1/31/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 565 | &nbsp;&nbsp;&nbsp;&nbsp; 557 |
| &nbsp;&nbsp;&nbsp; Conservice Midco LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 7.33%, 5/13/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1176 | &nbsp;&nbsp;&nbsp;&nbsp; 1176 |
| &nbsp;&nbsp;&nbsp; Enviri Corp., 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 2.25%), 6.69%, 6/9/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1413 | &nbsp;&nbsp;&nbsp;&nbsp; 1390 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp., 1st Lien Term Loan (Canada) (1-MONTH CME TERM SOFR + 3.00%), 7.33%, 2/1/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1521 | &nbsp;&nbsp;&nbsp;&nbsp; 1514 |
| &nbsp;&nbsp;&nbsp; Guardian US Holdco LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.50%), 7.80%, 1/31/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 983 | &nbsp;&nbsp;&nbsp;&nbsp; 963 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC, 1st Lien Term Loan (6-MONTH CME TERM SOFR + 2.50%), 6.76%, 6/21/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1565 | &nbsp;&nbsp;&nbsp;&nbsp; 1562 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC, 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 2.00%), 6.33%, 10/15/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1578 | &nbsp;&nbsp;&nbsp;&nbsp; 1576 |
| &nbsp;&nbsp;&nbsp; Raven Acquisition Holdings LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 7.58%, 11/19/2031 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1454 | &nbsp;&nbsp;&nbsp;&nbsp; 1451 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 13844 |
| **Construction & Engineering — 1.6%** | **Construction & Engineering — 1.6%** | **Construction & Engineering — 1.6%** |
| &nbsp;&nbsp;&nbsp; Osmose Utilities Services, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 7.69%, 6/23/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1163 | &nbsp;&nbsp;&nbsp;&nbsp; 1161 |
| &nbsp;&nbsp;&nbsp; Pike Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 7.44%, 1/21/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1613 | &nbsp;&nbsp;&nbsp;&nbsp; 1619 |
| &nbsp;&nbsp;&nbsp; Zekelman Industries, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.25%), 6.59%, 1/24/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 741 | &nbsp;&nbsp;&nbsp;&nbsp; 737 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3517 |
| **Consumer Staples Distribution & Retail — 3.0%** | **Consumer Staples Distribution & Retail — 3.0%** | **Consumer Staples Distribution & Retail — 3.0%** |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien PIK Term Loan (3-MONTH CME TERM SOFR + 2.00%), 2.00%, 6/30/2026 ‡ (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3938 | &nbsp;&nbsp;&nbsp;&nbsp; 3113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Super Senior Delayed Draw Term Loan (3-MONTH CME TERM SOFR + 11.50%), 15.91%, <br> 6/30/2026 ‡ (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 665 | &nbsp;&nbsp;&nbsp;&nbsp; 666 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Term Loan (12-MONTH CME TERM SOFR + 8.50%), 12.70%, 1/2/2029 ‡ (b) | &nbsp;&nbsp;&nbsp;&nbsp; 708 | &nbsp;&nbsp;&nbsp;&nbsp; 708 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Term Loan A (12-MONTH CME TERM SOFR + 2.50%), 6.28%, 1/2/2029 ‡ (b) | &nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp; 810 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 2nd Lien PIK Term Loan (3-MONTH CME TERM SOFR + 2.00%), 2.00%, 6/30/2026 ‡ (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3223 | &nbsp;&nbsp;&nbsp;&nbsp; 1554 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6851 |
| **Containers & Packaging — 2.9%** | **Containers & Packaging — 2.9%** | **Containers & Packaging — 2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc., 1st Lien Delayed Draw Term Loan (3-MONTH CME TERM SOFR + 3.25%), 7.48%, <br> 4/1/2032 (b) (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.25%), 7.55%, 4/1/2032 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 971 | &nbsp;&nbsp;&nbsp;&nbsp; 963 |
| &nbsp;&nbsp;&nbsp; Graham Packaging Co., Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.83%, 8/4/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1191 | &nbsp;&nbsp;&nbsp;&nbsp; 1191 |
| &nbsp;&nbsp;&nbsp; LABL, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 5.00%), 9.43%, 10/30/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1506 | &nbsp;&nbsp;&nbsp;&nbsp; 1339 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 7.32%, 4/15/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1562 | &nbsp;&nbsp;&nbsp;&nbsp; 1552 |
| &nbsp;&nbsp;&nbsp; Ring Container Technologies Group LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 7.08%, 8/14/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 804 | &nbsp;&nbsp;&nbsp;&nbsp; 805 |
| &nbsp;&nbsp;&nbsp; Trident TPI Holdings, Inc., 1st Lien Term Loan B-7 (3-MONTH CME TERM SOFR + 3.75%), 8.05%, 9/15/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 811 | &nbsp;&nbsp;&nbsp;&nbsp; 783 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6633 |
| **Diversified Consumer Services — 2.2%** | **Diversified Consumer Services — 2.2%** | **Diversified Consumer Services — 2.2%** |
| &nbsp;&nbsp;&nbsp; Belron Finance 2019 LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.75%), 7.05%, 10/16/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 710 | &nbsp;&nbsp;&nbsp;&nbsp; 713 |
| &nbsp;&nbsp;&nbsp; Mister Car Wash Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.82%, 3/27/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 798 | &nbsp;&nbsp;&nbsp;&nbsp; 797 |
| &nbsp;&nbsp;&nbsp; Pre-Paid Legal Services, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 7.58%, 12/7/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1176 | &nbsp;&nbsp;&nbsp;&nbsp; 1169 |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **Diversified Consumer Services — continued** | **Diversified Consumer Services — continued** | **Diversified Consumer Services — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. George's University Scholastic Services LLC, 1st Lien Term Loan (Canada) (3-MONTH CME TERM SOFR + 2.75%), 7.06%, <br> 2/12/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 966 | &nbsp;&nbsp;&nbsp;&nbsp; 951 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.83%, 1/30/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1251 | &nbsp;&nbsp;&nbsp;&nbsp; 1238 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4868 |
| **Diversified Telecommunication Services — 2.1%** | **Diversified Telecommunication Services — 2.1%** | **Diversified Telecommunication Services — 2.1%** |
| &nbsp;&nbsp;&nbsp; Altafiber Virginia LLC, 1st Lien Term Loan B-4 (1-MONTH CME TERM SOFR + 2.75%), 7.08%, 11/22/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1089 | &nbsp;&nbsp;&nbsp;&nbsp; 1091 |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, 1st Lien Term Loan (Luxembourg) (3-MONTH CME TERM SOFR + 5.00%), 9.26%, 10/29/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 999 | &nbsp;&nbsp;&nbsp;&nbsp; 828 |
| &nbsp;&nbsp;&nbsp; Altice France SA, 1st Lien Term Loan B-14 (France) (3-MONTH CME TERM SOFR + 5.50%), 9.76%, 8/15/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 623 | &nbsp;&nbsp;&nbsp;&nbsp; 572 |
| &nbsp;&nbsp;&nbsp; Iridium Satellite LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 9/20/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1139 | &nbsp;&nbsp;&nbsp;&nbsp; 1135 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc., 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 2.35%), 6.79%, 4/16/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 533 | &nbsp;&nbsp;&nbsp;&nbsp; 527 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.35%), 6.79%, 4/15/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 545 | &nbsp;&nbsp;&nbsp;&nbsp; 539 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4692 |
| **Electric Utilities — 0.6%** | **Electric Utilities — 0.6%** | **Electric Utilities — 0.6%** |
| &nbsp;&nbsp;&nbsp; Constellation Renewables LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 6.56%, 12/15/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1366 | &nbsp;&nbsp;&nbsp;&nbsp; 1364 |
| **Electrical Equipment — 1.1%** | **Electrical Equipment — 1.1%** | **Electrical Equipment — 1.1%** |
| &nbsp;&nbsp;&nbsp; BCP VI Summit Holdings LP, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.50%), 7.83%, 1/30/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1025 | &nbsp;&nbsp;&nbsp;&nbsp; 1028 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp., 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 1.75%), 6.07%, 3/2/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1429 | &nbsp;&nbsp;&nbsp;&nbsp; 1428 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2456 |
| **Electronic Equipment, Instruments & Components — 1.9%** | **Electronic Equipment, Instruments & Components — 1.9%** | **Electronic Equipment, Instruments & Components — 1.9%** |
| &nbsp;&nbsp;&nbsp; Coherent Corp., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.00%), 6.33%, 7/2/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1336 | &nbsp;&nbsp;&nbsp;&nbsp; 1338 |
| &nbsp;&nbsp;&nbsp; Ingram Micro, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.75%), 7.05%, 9/19/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 623 | &nbsp;&nbsp;&nbsp;&nbsp; 625 |
| &nbsp;&nbsp;&nbsp; LSF12 Crown US Commercial Bidco LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.25%), 8.57%, 12/2/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp; 1277 |
| &nbsp;&nbsp;&nbsp; Mirion Technologies, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.25%), 6.55%, 10/20/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1005 | &nbsp;&nbsp;&nbsp;&nbsp; 1005 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4245 |
| **Entertainment — 1.0%** | **Entertainment — 1.0%** | **Entertainment — 1.0%** |
| &nbsp;&nbsp;&nbsp; Crown Finance US, Inc., 1st Lien Term Loan (United Kingdom) (1-MONTH CME TERM SOFR + 5.25%), 9.58%, 12/2/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1267 | &nbsp;&nbsp;&nbsp;&nbsp; 1267 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc., 1st Lien Term Loan B-4 (1-MONTH CME TERM SOFR + 1.75%), 6.17%, 10/19/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 917 | &nbsp;&nbsp;&nbsp;&nbsp; 915 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2182 |
| **Financial Services — 2.0%** | **Financial Services — 2.0%** | **Financial Services — 2.0%** |
| &nbsp;&nbsp;&nbsp; NCR Atleos Corp., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.75%), 8.03%, 3/27/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 713 | &nbsp;&nbsp;&nbsp;&nbsp; 716 |
| &nbsp;&nbsp;&nbsp; Neon Maple US Debt Mergersub, Inc., 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 3.00%), 7.32%, 11/17/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1168 | &nbsp;&nbsp;&nbsp;&nbsp; 1166 |
| &nbsp;&nbsp;&nbsp; Orion Advisor Solutions, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.75%), 8.03%, 9/24/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1134 | &nbsp;&nbsp;&nbsp;&nbsp; 1138 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC, 1st Lien Term Loan (12-MONTH CME TERM SOFR + 2.75%), 6.80%, 5/7/2032 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 565 | &nbsp;&nbsp;&nbsp;&nbsp; 568 |
| &nbsp;&nbsp;&nbsp; Trans Union LLC, 1st Lien Term Loan B-9 (1-MONTH CME TERM SOFR + 1.75%), 6.08%, 6/24/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 830 | &nbsp;&nbsp;&nbsp;&nbsp; 829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4417 |
| **Food Products — 0.2%** | **Food Products — 0.2%** | **Food Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc., 1st Lien Term Loan B-5 (1-MONTH CME TERM SOFR + 3.50%), 7.83%, 10/10/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 504 | &nbsp;&nbsp;&nbsp;&nbsp; 461 |
| **Ground Transportation — 1.7%** | **Ground Transportation — 1.7%** | **Ground Transportation — 1.7%** |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.50%), 6.80%, 7/21/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 482 | &nbsp;&nbsp;&nbsp;&nbsp; 482 |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc., 1st Lien Term Loan B-2 (3-MONTH CME TERM SOFR + 2.50%), 6.80%, 7/21/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 629 | &nbsp;&nbsp;&nbsp;&nbsp; 629 |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc., 1st Lien Term Loan C (3-MONTH CME TERM SOFR + 2.50%), 6.80%, 7/21/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 252 | &nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 1.75%), 6.05%, 4/10/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1271 | &nbsp;&nbsp;&nbsp;&nbsp; 1264 |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **Ground Transportation — continued** | **Ground Transportation — continued** | **Ground Transportation — continued** |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The), 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.50%), 7.94%, 6/30/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1227 | &nbsp;&nbsp;&nbsp;&nbsp; 1013 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The), 1st Lien Term Loan C (1-MONTH CME TERM SOFR + 3.50%), 7.94%, 6/30/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp; 198 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3838 |
| **Health Care Equipment & Supplies — 2.6%** | **Health Care Equipment & Supplies — 2.6%** | **Health Care Equipment & Supplies — 2.6%** |
| &nbsp;&nbsp;&nbsp; Bausch + Lomb Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 7.68%, 5/10/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1287 | &nbsp;&nbsp;&nbsp;&nbsp; 1282 |
| &nbsp;&nbsp;&nbsp; Insulet Corp., 1st Lien Term Loan A (1-MONTH CME TERM SOFR + 2.50%), 6.82%, 8/1/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1486 | &nbsp;&nbsp;&nbsp;&nbsp; 1490 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 10/23/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2498 | &nbsp;&nbsp;&nbsp;&nbsp; 2496 |
| &nbsp;&nbsp;&nbsp; Resonetics LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 7.55%, 6/18/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 685 | &nbsp;&nbsp;&nbsp;&nbsp; 683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5951 |
| **Health Care Providers & Services — 3.9%** | **Health Care Providers & Services — 3.9%** | **Health Care Providers & Services — 3.9%** |
| &nbsp;&nbsp;&nbsp; AHP Health Partners, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.75%), 7.08%, 8/24/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1003 | &nbsp;&nbsp;&nbsp;&nbsp; 1007 |
| &nbsp;&nbsp;&nbsp; ICON Luxembourg SARL, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%), 6.30%, 7/3/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 228 | &nbsp;&nbsp;&nbsp;&nbsp; 228 |
| &nbsp;&nbsp;&nbsp; MED ParentCo LP, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.50%), 7.83%, 4/15/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1201 | &nbsp;&nbsp;&nbsp;&nbsp; 1204 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 10/27/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1368 | &nbsp;&nbsp;&nbsp;&nbsp; 1374 |
| &nbsp;&nbsp;&nbsp; Phoenix Newco, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.83%, 11/15/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1159 | &nbsp;&nbsp;&nbsp;&nbsp; 1159 |
| &nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.00%), 6.30%, 7/3/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp; Radiology Partners, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.50%), 8.09%, 1/31/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 818 | &nbsp;&nbsp;&nbsp;&nbsp; 810 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.00%), 8.30%, 9/27/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1208 | &nbsp;&nbsp;&nbsp;&nbsp; 1186 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 7.08%, 12/19/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1010 | &nbsp;&nbsp;&nbsp;&nbsp; 1011 |
| &nbsp;&nbsp;&nbsp; US Renal Care, Inc., 1st Lien Term Loan C (1-MONTH CME TERM SOFR + 5.00%), 9.44%, 6/28/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 798 | &nbsp;&nbsp;&nbsp;&nbsp; 751 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8787 |
| **Hotels, Restaurants & Leisure — 2.3%** | **Hotels, Restaurants & Leisure — 2.3%** | **Hotels, Restaurants & Leisure — 2.3%** |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 2/6/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 613 | &nbsp;&nbsp;&nbsp;&nbsp; 611 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc., 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 2/6/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1337 | &nbsp;&nbsp;&nbsp;&nbsp; 1330 |
| &nbsp;&nbsp;&nbsp; Carnival Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.00%), 6.33%, 8/9/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1569 | &nbsp;&nbsp;&nbsp;&nbsp; 1568 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.00%), 6.33%, 3/14/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 825 | &nbsp;&nbsp;&nbsp;&nbsp; 824 |
| &nbsp;&nbsp;&nbsp; UFC Holdings LLC, 1st Lien Term Loan B-4 (3-MONTH CME TERM SOFR + 2.25%), 6.57%, 11/21/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 928 | &nbsp;&nbsp;&nbsp;&nbsp; 930 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5263 |
| **Household Durables — 0.5%** | **Household Durables — 0.5%** | **Household Durables — 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KDC/ONE Development Corp., Inc., 1st Lien Term Loan (Canada) (1-MONTH CME TERM SOFR + 4.00%), 8.33%, <br> 8/15/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1172 | &nbsp;&nbsp;&nbsp;&nbsp; 1171 |
| **Insurance — 3.7%** | **Insurance — 3.7%** | **Insurance — 3.7%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 7.07%, 9/19/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1434 | &nbsp;&nbsp;&nbsp;&nbsp; 1427 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 1st Lien Term Loan B-11 (1-MONTH CME TERM SOFR + 4.25%), 8.68%, 8/21/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1289 | &nbsp;&nbsp;&nbsp;&nbsp; 1285 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 1st Lien Term Loan B-9 (1-MONTH CME TERM SOFR + 3.25%), 7.69%, 7/30/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 2nd Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 5.25%), 9.69%, 1/31/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1235 | &nbsp;&nbsp;&nbsp;&nbsp; 1190 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.50%), 6.77%, 6/20/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1449 | &nbsp;&nbsp;&nbsp;&nbsp; 1448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 7.33%, <br> 7/31/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp;&nbsp;&nbsp; 1141 |
| &nbsp;&nbsp;&nbsp; USI, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 6.55%, 9/27/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp;&nbsp; 491 |
| &nbsp;&nbsp;&nbsp; USI, Inc., 1st Lien Term Loan D (3-MONTH CME TERM SOFR + 2.25%), 6.55%, 11/21/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1013 | &nbsp;&nbsp;&nbsp;&nbsp; 1010 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8275 |
| **IT Services — 2.8%** | **IT Services — 2.8%** | **IT Services — 2.8%** |
| &nbsp;&nbsp;&nbsp; Ahead DB Holdings LLC, 1st Lien Term Loan B-3 (3-MONTH CME TERM SOFR + 3.00%), 7.30%, 2/3/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1017 | &nbsp;&nbsp;&nbsp;&nbsp; 1017 |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 7.68%, 12/6/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 827 | &nbsp;&nbsp;&nbsp;&nbsp; 813 |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **IT Services — continued** | **IT Services — continued** | **IT Services — continued** |
| &nbsp;&nbsp;&nbsp; MH Sub I LLC, 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 4.25%), 8.57%, 5/3/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 682 | &nbsp;&nbsp;&nbsp;&nbsp; 654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 4.25%), 8.58%, 12/31/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 548 | &nbsp;&nbsp;&nbsp;&nbsp; 498 |
| &nbsp;&nbsp;&nbsp; Modena Buyer LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.50%), 8.78%, 7/1/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1174 | &nbsp;&nbsp;&nbsp;&nbsp; 1137 |
| &nbsp;&nbsp;&nbsp; Nielsen Consumer LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.50%), 7.83%, 3/6/2028 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 987 | &nbsp;&nbsp;&nbsp;&nbsp; 985 |
| &nbsp;&nbsp;&nbsp; Virtusa Corp., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 3.25%), 7.58%, 2/15/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1194 | &nbsp;&nbsp;&nbsp;&nbsp; 1195 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6299 |
| **Leisure Products — 1.2%** | **Leisure Products — 1.2%** | **Leisure Products — 1.2%** |
| &nbsp;&nbsp;&nbsp; FGI Operating Co. LLC, 1st Lien Term Loan, 0.00%, 1/31/2025 ‡ (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3333 | &nbsp;&nbsp;&nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp; Recess Holdings, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.75%), 8.03%, 2/21/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 442 | &nbsp;&nbsp;&nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp; Topgolf Callaway Brands Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 7.33%, 3/18/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 848 | &nbsp;&nbsp;&nbsp;&nbsp; 827 |
| &nbsp;&nbsp;&nbsp; Varsity Brands, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.50%), 7.83%, 8/26/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1415 | &nbsp;&nbsp;&nbsp;&nbsp; 1405 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2706 |
| **Machinery — 3.0%** | **Machinery — 3.0%** | **Machinery — 3.0%** |
| &nbsp;&nbsp;&nbsp; Crosby US Acquisition Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.50%), 7.83%, 8/16/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 834 | &nbsp;&nbsp;&nbsp;&nbsp; 835 |
| &nbsp;&nbsp;&nbsp; Gates Global LLC, 1st Lien Term Loan B-4 (1-MONTH CME TERM SOFR + 1.75%), 6.08%, 11/16/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 244 | &nbsp;&nbsp;&nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp; Madison Safety & Flow LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 7.08%, 9/26/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1201 | &nbsp;&nbsp;&nbsp;&nbsp; 1202 |
| &nbsp;&nbsp;&nbsp; SPX FLOW, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.00%), 7.33%, 4/5/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1639 | &nbsp;&nbsp;&nbsp;&nbsp; 1643 |
| &nbsp;&nbsp;&nbsp; Terex Corp., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%), 6.30%, 10/8/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 1351 |
| &nbsp;&nbsp;&nbsp; TK Elevator Midco GmbH, 1st Lien Term Loan B-1 (Germany) (3-MONTH CME TERM SOFR + 3.00%), 7.24%, 4/30/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1492 | &nbsp;&nbsp;&nbsp;&nbsp; 1494 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6768 |
| **Media — 3.1%** | **Media — 3.1%** | **Media — 3.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC, 1st Lien Term Loan B-5 (3-MONTH CME TERM SOFR + 2.25%), 6.55%, <br> 12/15/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 496 | &nbsp;&nbsp;&nbsp;&nbsp; 496 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.00%), 8.44%, 8/23/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1776 | &nbsp;&nbsp;&nbsp;&nbsp; 1738 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.50%), 8.83%, 1/18/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1371 | &nbsp;&nbsp;&nbsp;&nbsp; 1352 |
| &nbsp;&nbsp;&nbsp; DIRECTV Financing LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 5.00%), 9.54%, 8/2/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp; EW Scripps Co. (The), 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 3.35%), 7.80%, 11/30/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 879 | &nbsp;&nbsp;&nbsp;&nbsp; 786 |
| &nbsp;&nbsp;&nbsp; Gray Media, Inc., 1st Lien Term Loan D (1-MONTH CME TERM SOFR + 3.00%), 7.44%, 12/1/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 915 | &nbsp;&nbsp;&nbsp;&nbsp; 880 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 5.78%), 10.21%, 5/1/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2077 | &nbsp;&nbsp;&nbsp;&nbsp; 1699 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7049 |
| **Metals & Mining — 0.4%** | **Metals & Mining — 0.4%** | **Metals & Mining — 0.4%** |
| &nbsp;&nbsp;&nbsp; Novelis, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%), 6.29%, 3/11/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 815 | &nbsp;&nbsp;&nbsp;&nbsp; 817 |
| **Oil, Gas & Consumable Fuels — 3.3%** | **Oil, Gas & Consumable Fuels — 3.3%** | **Oil, Gas & Consumable Fuels — 3.3%** |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP, 1st Lien Term Loan B-5 (1-MONTH CME TERM SOFR + 1.75%), 6.08%, 11/2/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 242 | &nbsp;&nbsp;&nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp; CPPIB OVM Member US LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.75%), 7.05%, 8/20/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1404 | &nbsp;&nbsp;&nbsp;&nbsp; 1394 |
| &nbsp;&nbsp;&nbsp; EPIC Crude Services LP, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 7.26%, 10/15/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1060 | &nbsp;&nbsp;&nbsp;&nbsp; 1062 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 8.08%, 2/3/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp;&nbsp;&nbsp; 1404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NorthRiver Midstream Finance LP, 1st Lien Term Loan B (Canada) (3-MONTH CME TERM SOFR + 2.25%), 6.55%, <br> 8/16/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1496 | &nbsp;&nbsp;&nbsp;&nbsp; 1496 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP, 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 4.25%), 8.58%, 8/1/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1228 | &nbsp;&nbsp;&nbsp;&nbsp; 1232 |
| &nbsp;&nbsp;&nbsp; WhiteWater Whistler Holdings LLC, 1st Lien Term Loan B-3 (3-MONTH CME TERM SOFR + 1.75%), 6.05%, 2/15/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 644 | &nbsp;&nbsp;&nbsp;&nbsp; 641 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7471 |
| **Passenger Airlines — 1.3%** | **Passenger Airlines — 1.3%** | **Passenger Airlines — 1.3%** |
| &nbsp;&nbsp;&nbsp; AAdvantage Loyalty IP Ltd., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 6.52%, 4/20/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1208 | &nbsp;&nbsp;&nbsp;&nbsp; 1194 |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **Passenger Airlines — continued** | **Passenger Airlines — continued** | **Passenger Airlines — continued** |
| &nbsp;&nbsp;&nbsp; Jetblue Airways Corp., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.75%), 9.05%, 8/13/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1421 | &nbsp;&nbsp;&nbsp;&nbsp; 1380 |
| &nbsp;&nbsp;&nbsp; Vista Management Holding, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.75%), 8.05%, 4/1/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 465 | &nbsp;&nbsp;&nbsp;&nbsp; 465 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3039 |
| **Personal Care Products — 0.4%** | **Personal Care Products — 0.4%** | **Personal Care Products — 0.4%** |
| &nbsp;&nbsp;&nbsp; Conair Holdings LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 8.19%, 5/17/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1295 | &nbsp;&nbsp;&nbsp;&nbsp; 910 |
| **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 6.25%), 10.59%, 10/8/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 925 | &nbsp;&nbsp;&nbsp;&nbsp; 877 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.00%), 8.33%, 4/23/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1244 | &nbsp;&nbsp;&nbsp;&nbsp; 1213 |
| &nbsp;&nbsp;&nbsp; Jazz Financing Lux SARL, 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.25%), 6.58%, 5/5/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 689 | &nbsp;&nbsp;&nbsp;&nbsp; 689 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2779 |
| **Professional Services — 4.2%** | **Professional Services — 4.2%** | **Professional Services — 4.2%** |
| &nbsp;&nbsp;&nbsp; Creative Artists Agency LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.75%), 7.08%, 10/1/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1355 | &nbsp;&nbsp;&nbsp;&nbsp; 1354 |
| &nbsp;&nbsp;&nbsp; Ensemble RCM LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.00%), 7.28%, 8/1/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 778 | &nbsp;&nbsp;&nbsp;&nbsp; 779 |
| &nbsp;&nbsp;&nbsp; First Advantage Holdings LLC, 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 3.25%), 7.58%, 10/31/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1541 | &nbsp;&nbsp;&nbsp;&nbsp; 1539 |
| &nbsp;&nbsp;&nbsp; Grant Thornton Advisors LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 7.08%, 6/2/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1647 | &nbsp;&nbsp;&nbsp;&nbsp; 1640 |
| &nbsp;&nbsp;&nbsp; KBR, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.00%), 6.33%, 1/17/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1027 | &nbsp;&nbsp;&nbsp;&nbsp; 1028 |
| &nbsp;&nbsp;&nbsp; VT Topco, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 7.30%, 8/9/2030 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1481 | &nbsp;&nbsp;&nbsp;&nbsp; 1483 |
| &nbsp;&nbsp;&nbsp; WEC US Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.25%), 6.57%, 1/27/2031 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1518 | &nbsp;&nbsp;&nbsp;&nbsp; 1514 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9337 |
| **Semiconductors & Semiconductor Equipment — 0.9%** | **Semiconductors & Semiconductor Equipment — 0.9%** | **Semiconductors & Semiconductor Equipment — 0.9%** |
| &nbsp;&nbsp;&nbsp; Altar Bidco, Inc., 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 3.10%), 7.25%, 2/1/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1156 | &nbsp;&nbsp;&nbsp;&nbsp; 1140 |
| &nbsp;&nbsp;&nbsp; Altar Bidco, Inc., 2nd Lien Term Loan (12-MONTH CME TERM SOFR + 5.60%), 9.75%, 2/1/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 896 | &nbsp;&nbsp;&nbsp;&nbsp; 838 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1978 |
| **Software — 8.3%** | **Software — 8.3%** | **Software — 8.3%** |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 7.33%, 2/15/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1718 | &nbsp;&nbsp;&nbsp;&nbsp; 1709 |
| &nbsp;&nbsp;&nbsp; BCPE Pequod Buyer, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.50%), 7.83%, 11/25/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1532 | &nbsp;&nbsp;&nbsp;&nbsp; 1535 |
| &nbsp;&nbsp;&nbsp; Boxer Parent Co., Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 7.33%, 7/30/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1385 | &nbsp;&nbsp;&nbsp;&nbsp; 1374 |
| &nbsp;&nbsp;&nbsp; Central Parent LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 7.55%, 7/6/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1540 | &nbsp;&nbsp;&nbsp;&nbsp; 1368 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.75%), 8.05%, 3/21/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 872 | &nbsp;&nbsp;&nbsp;&nbsp; 869 |
| &nbsp;&nbsp;&nbsp; DCert Buyer, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.00%), 8.33%, 10/16/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 328 | &nbsp;&nbsp;&nbsp;&nbsp; 324 |
| &nbsp;&nbsp;&nbsp; DCert Buyer, Inc., 2nd Lien Term Loan (1-MONTH CME TERM SOFR + 7.00%), 11.33%, 2/16/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 345 | &nbsp;&nbsp;&nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp; Genesys Cloud Services, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.83%, 1/30/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2405 | &nbsp;&nbsp;&nbsp;&nbsp; 2397 |
| &nbsp;&nbsp;&nbsp; Icon Parent, Inc., 1st Lien Term Loan (6-MONTH CME TERM SOFR + 3.00%), 7.21%, 11/13/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp;&nbsp; 1098 |
| &nbsp;&nbsp;&nbsp; Icon Parent, Inc., 2nd Lien Term Loan (6-MONTH CME TERM SOFR + 5.00%), 9.21%, 11/12/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp; Project Boost Purchaser LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 7.30%, 7/16/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1333 | &nbsp;&nbsp;&nbsp;&nbsp; 1331 |
| &nbsp;&nbsp;&nbsp; Proofpoint, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 7.33%, 8/31/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1147 | &nbsp;&nbsp;&nbsp;&nbsp; 1146 |
| &nbsp;&nbsp;&nbsp; RealPage, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 7.56%, 4/24/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 779 | &nbsp;&nbsp;&nbsp;&nbsp; 773 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.25%), 8.58%, 11/28/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 621 | &nbsp;&nbsp;&nbsp;&nbsp; 621 |
| &nbsp;&nbsp;&nbsp; Skopima Consilio Parent LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 8.08%, 5/12/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1184 | &nbsp;&nbsp;&nbsp;&nbsp; 1178 |
| &nbsp;&nbsp;&nbsp; Thoughtworks, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.50%), 6.94%, 3/24/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 416 | &nbsp;&nbsp;&nbsp;&nbsp; 411 |
| &nbsp;&nbsp;&nbsp; UKG, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 7.33%, 2/10/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1835 | &nbsp;&nbsp;&nbsp;&nbsp; 1838 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18590 |
| **Specialty Retail — 3.6%** | **Specialty Retail — 3.6%** | **Specialty Retail — 3.6%** |
| &nbsp;&nbsp;&nbsp; Claire's Stores, Inc., 1st Lien Term Loan B (6-MONTH CME TERM SOFR + 6.50%), 10.73%, 12/18/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1238 | &nbsp;&nbsp;&nbsp;&nbsp; 788 |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **Specialty Retail — continued** | **Specialty Retail — continued** | **Specialty Retail — continued** |
| &nbsp;&nbsp;&nbsp; Leslie's Poolmart, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.75%), 7.19%, 3/9/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1504 | &nbsp;&nbsp;&nbsp;&nbsp; 1118 |
| &nbsp;&nbsp;&nbsp; Park River Holdings, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 7.80%, 12/28/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1227 | &nbsp;&nbsp;&nbsp;&nbsp; 1178 |
| &nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 7.81%, 3/3/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 956 | &nbsp;&nbsp;&nbsp;&nbsp; 884 |
| &nbsp;&nbsp;&nbsp; PetSmart LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 8.18%, 2/11/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1164 | &nbsp;&nbsp;&nbsp;&nbsp; 1158 |
| &nbsp;&nbsp;&nbsp; Serta Simmons Bedding LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 7.50%), 11.91%, 6/29/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 633 | &nbsp;&nbsp;&nbsp;&nbsp; 574 |
| &nbsp;&nbsp;&nbsp; Staples, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 5.75%), 10.03%, 8/23/2029 (b) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1447 | &nbsp;&nbsp;&nbsp;&nbsp; 1292 |
| &nbsp;&nbsp;&nbsp; White Cap Supply Holdings LLC, 1st Lien Term Loan C (1-MONTH CME TERM SOFR + 3.25%), 7.58%, 10/19/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1151 | &nbsp;&nbsp;&nbsp;&nbsp; 1138 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Loan Assignments <br>(Cost $198,719)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 190130 |
| **Corporate Bonds — 7.0%** | **Corporate Bonds — 7.0%** | **Corporate Bonds — 7.0%** |
| **Automobile Components — 0.2%** | **Automobile Components — 0.2%** | **Automobile Components — 0.2%** |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. 6.50%, 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 497 |
| **Chemicals — 1.0%** | **Chemicals — 1.0%** | **Chemicals — 1.0%** |
| &nbsp;&nbsp;&nbsp; Chemours Co. (The) 5.75%, 11/15/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1119 |
| &nbsp;&nbsp;&nbsp; INEOS Quattro Finance 2 plc (United Kingdom) 9.63%, 3/15/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. (The) 4.50%, 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 951 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2319 |
| **Consumer Finance — 0.2%** | **Consumer Finance — 0.2%** | **Consumer Finance — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC 4.13%, 8/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 482 |
| **Diversified Telecommunication Services — 1.0%** | **Diversified Telecommunication Services — 1.0%** | **Diversified Telecommunication Services — 1.0%** |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC 4.50%, 8/15/2030 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 2250 | &nbsp;&nbsp;&nbsp;&nbsp; 2110 |
| **Ground Transportation — 0.5%** | **Ground Transportation — 0.5%** | **Ground Transportation — 0.5%** |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC 4.75%, 4/1/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1197 |
| **Health Care Providers & Services — 0.2%** | **Health Care Providers & Services — 0.2%** | **Health Care Providers & Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. 4.63%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 490 |
| **Hotels, Restaurants & Leisure — 0.5%** | **Hotels, Restaurants & Leisure — 0.5%** | **Hotels, Restaurants & Leisure — 0.5%** |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC 5.13%, 10/1/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp;&nbsp; 1073 |
| **Household Durables — 0.3%** | **Household Durables — 0.3%** | **Household Durables — 0.3%** |
| &nbsp;&nbsp;&nbsp; CD&R Smokey Buyer, Inc. 9.50%, 10/15/2029 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 665 | &nbsp;&nbsp;&nbsp;&nbsp; 552 |
| **IT Services — 0.1%** | **IT Services — 0.1%** | **IT Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ahead DB Holdings LLC 6.63%, 5/1/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp;&nbsp;&nbsp; 271 |
| **Media — 1.0%** | **Media — 1.0%** | **Media — 1.0%** |
| &nbsp;&nbsp;&nbsp; DISH DBS Corp. 5.25%, 12/1/2026 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp;&nbsp;&nbsp; 693 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC 4.00%, 7/15/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 1518 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2211 |
| **Oil, Gas & Consumable Fuels — 2.0%** | **Oil, Gas & Consumable Fuels — 2.0%** | **Oil, Gas & Consumable Fuels — 2.0%** |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC 8.25%, 12/31/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp; Civitas Resources, Inc. 8.38%, 7/1/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1259 |
| &nbsp;&nbsp;&nbsp; Harvest Midstream I LP 7.50%, 9/1/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp; 558 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP 5.88%, 3/1/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp;&nbsp; 104 |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP 6.63%, 12/15/2028 (f) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1020 |
| &nbsp;&nbsp;&nbsp; NuStar Logistics LP 5.63%, 4/28/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1003 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $15,650)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 15654 |
|  | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Exchange-Traded Funds — 2.1%** | **Exchange-Traded Funds — 2.1%** | **Exchange-Traded Funds — 2.1%** |
| **Fixed Income — 2.1%** | **Fixed Income — 2.1%** | **Fixed Income — 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Senior Loan ETF <br>(Cost $4,861)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 231 | &nbsp;&nbsp;&nbsp;&nbsp; 4819 |
| **Common Stocks — 0.7%** | **Common Stocks — 0.7%** | **Common Stocks — 0.7%** |
| **Broadline Retail — 0.2%** | **Broadline Retail — 0.2%** | **Broadline Retail — 0.2%** |
| &nbsp;&nbsp;&nbsp; Moran Foods Backstop Equity ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 22629369 | &nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp; NMG Parent LLC ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 404 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 426 |
| **Machinery — 0.0% ^** | **Machinery — 0.0% ^** | **Machinery — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; SSB Equipment Co., Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 284 | &nbsp;&nbsp;&nbsp;&nbsp; 304 |
| &nbsp;&nbsp;&nbsp; iHeartMedia, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 81 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 385 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Endo, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 198 |
| **Specialty Retail — 0.2%** | **Specialty Retail — 0.2%** | **Specialty Retail — 0.2%** |
| &nbsp;&nbsp;&nbsp; Claire's Stores, Inc. ‡ \* (g) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (h)<br>|
| &nbsp;&nbsp;&nbsp; NMG, Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp; Serta Simmons Bedding LLC ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 325 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $6,108)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 1490 |
| **Convertible Preferred Stocks — 0.0% ^** | **Convertible Preferred Stocks — 0.0% ^** | **Convertible Preferred Stocks — 0.0% ^** |
| **Specialty Retail — 0.0% ^** | **Specialty Retail — 0.0% ^** | **Specialty Retail — 0.0% ^** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Claire's Stores, Inc. ‡ \* (g) <br>(Cost $4,630)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (h)<br>|

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Short-Term Investments — 3.6%** | **Short-Term Investments — 3.6%** | **Short-Term Investments — 3.6%** |
| **Investment Companies — 3.6%** | **Investment Companies — 3.6%** | **Investment Companies — 3.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class Institutional Shares, 4.16% (i) (j) <br>(Cost $8,071)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8071 | &nbsp;&nbsp;&nbsp;&nbsp; 8071 |
| **Total Investments — 98.0%** <br>**(Cost $238,039)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **220164** |
| **Other Assets in Excess of Liabilities — 2.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **4499** |
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **224663** |

---

&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** |  |
| CME | Chicago Mercantile Exchange |
| ETF | Exchange Traded Fund |
| PIK | Payment In Kind |
| SOFR | Secured Overnight Financing Rate |

---

&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) | Loan assignments are presented by obligor. Each series or loan tranche underlying each obligor may have varying terms. |
| (b) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of May 31, 2025. |
| (c) | All or a portion of this security is unsettled as of May 31, 2025. Unless otherwise indicated, the coupon rate is undetermined. The coupon <br> rate shown may not be accrued for the entire position.<br>|
| (d) | Defaulted security. |
| (e) | 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 May 31, 2025. <br>|
| (f) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
| (g) | Fund is subject to legal or contractual restrictions on the resale of the security. |
| (h) | Value is zero. |
| (i) | 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>|
| (j) | The rate shown is the current yield as of May 31, 2025. |

---

**Centrally Cleared Credit default swap contracts outstanding — sell protection**<sup>(\*\*)</sup> **as of May 31, 2025 (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>| &nbsp;&nbsp; **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.HY.44-V1 | 5.00 | Quarterly | 6/20/2030 | 3.51 | USD4,000 | &nbsp;&nbsp; 88 | &nbsp;&nbsp; 199 | &nbsp;&nbsp; 287 |

---

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

---

| | |
|:---|:---|
| (\*\*)  | The Fund, as a seller of credit protection, receives periodic payments and may also receive or pay an upfront premium from or to the protection buyer, <br> and is obligated to make a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the <br> terms of individual swap contracts. |
| (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 <br> 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 <br> may include upfront payments made to enter into the contract. Therefore, higher spreads would indicate a greater likelihood that a seller will be obligated <br> to perform (i.e. make payment) under the swap contract. Increasing values, in absolute terms and relative to notional amounts, are also indicative of <br> greater performance risk. Implied credit spreads for credit default swaps on credit indices are linked to the weighted average spread across the underlying <br> reference obligations included in a particular index. |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

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

&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 |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

(Dollar values in thousands)

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

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

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under Securities and Exchange Commission 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 are calculated on a valuation date.

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

Swaps 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 May 31, 2025.

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

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

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

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

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

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.

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

(Dollar values in thousands)

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** |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $426 | &nbsp;&nbsp;&nbsp;&nbsp; $426 |
| &nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp;&nbsp; 385 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 385 |
| &nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp; 198 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 481 | &nbsp;&nbsp;&nbsp;&nbsp; 481 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 583 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 907 | &nbsp;&nbsp;&nbsp;&nbsp; 1490 |
| Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —(b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; —(b)<br>|
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15654 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15654 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 4819 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4819 |
| Loan Assignments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4670 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4670 |
| &nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4965 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4965 |
| &nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1944 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1944 |
| &nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1087 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1087 |
| &nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7850 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7850 |
| &nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1482 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1482 |
| &nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3444 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3444 |
| &nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13844 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13844 |
| &nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3517 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3517 |
| &nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6851 | &nbsp;&nbsp;&nbsp;&nbsp; 6851 |
| &nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6633 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6633 |
| &nbsp;&nbsp;&nbsp; Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4868 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4868 |
| &nbsp;&nbsp;&nbsp; Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4692 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4692 |
| &nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1364 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1364 |
| &nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2456 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2456 |
| &nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4245 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4245 |
| &nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2182 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2182 |
| &nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4417 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4417 |
| &nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 461 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3838 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3838 |
| &nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5951 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5951 |
| &nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8787 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8787 |
| &nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5263 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5263 |
| &nbsp;&nbsp;&nbsp; Household Durables | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1171 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1171 |
| &nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8275 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8275 |
| &nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6299 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6299 |
| &nbsp;&nbsp;&nbsp; Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2673 | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 2706 |
| &nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6768 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6768 |
| &nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7049 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7049 |
| &nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 817 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 817 |
| &nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7471 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7471 |
| &nbsp;&nbsp;&nbsp; Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3039 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3039 |
| &nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 910 |
| &nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2779 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2779 |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $9337 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $9337 |
| &nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1978 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1978 |
| &nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18590 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18590 |
| &nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8130 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8130 |
| &nbsp;&nbsp;&nbsp; Total Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 183246 | &nbsp;&nbsp;&nbsp;&nbsp; 6884 | &nbsp;&nbsp;&nbsp;&nbsp; 190130 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 8071 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8071 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $13473 | &nbsp;&nbsp;&nbsp;&nbsp; $198900 | &nbsp;&nbsp;&nbsp;&nbsp; $7791 | &nbsp;&nbsp;&nbsp;&nbsp; $220164 |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Swaps | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $199 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $199 |

---

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

(a) Amount rounds to less than one thousand.

(b) Value is zero.

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>**2025**<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>**May 31,** <br>**2025**<br>|
| **Investments in Securities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | $867 | $127 | $(87)<br>| $— | $— | $— | $— | $— | $907 |
| &nbsp;&nbsp;&nbsp; Convertible Preferred Stocks | 3522 |  | (3735)<br>|  | 213 |  |  |  | —<br> (a)<br>|
| &nbsp;&nbsp;&nbsp; Loan Assignments | 7275 | 1 | (19)<br>| 111 | 922 | (1188)<br>|  | (218)<br>| 6884 |
| **Total** | $11664 | $128 | $(3841)<br>| $111 | $1135 | $(1188)<br>| $— | $(218)<br>| $7791 |

---

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

<sup>1</sup> Purchases include all purchases of securities and securities received in corporate actions.

<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) Value is zero.

The changes in net unrealized appreciation (depreciation) attributable to securities owned at May 31, 2025, which were valued using significant unobservable inputs (level 3) amounted to $(3,725).

There were no significant transfers into or out of level 3 for the period ended May 31, 2025.

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value at**<br> **May 31, 2025**<br>| &nbsp;&nbsp; **Valuation**<br> **Technique(s)**<br>| &nbsp;&nbsp; **Unobservable**<br> **Input**<br>| &nbsp;&nbsp; **Range (Weighted**<br> **Average) (a)**<br>|
|  | &nbsp;&nbsp; $3113 | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 26.08% (26.08%) |
|  | &nbsp;&nbsp; 3771 | Term of Restructuring | Expected Recovery | 1.00% - 100.00% (77.97%) |
| &nbsp;&nbsp;&nbsp; Loan Assignments | &nbsp;&nbsp; 6884 |  |  |  |

---

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value at**<br> **May 31, 2025**<br>| &nbsp;&nbsp; **Valuation**<br> **Technique(s)**<br>| &nbsp;&nbsp; **Unobservable**<br> **Input**<br>| &nbsp;&nbsp; **Range (Weighted**<br> **Average) (a)**<br>|
|  | &nbsp;&nbsp; —(b)<br>| Terms of Restructuring | Expected Recovery | 0.00% (0.00%) |
| &nbsp;&nbsp;&nbsp; Convertible Preferred Stocks | &nbsp;&nbsp; —(b)<br>|  |  |  |
|  | &nbsp;&nbsp; 582 | Terms of Restructuring | Expected Recovery | $0.00 - $137.77 ($54.68) |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; 582 |  |  |  |
| &nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $7466 |  |  |  |

---

&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 May 31, 2025, the value of these investments was $325. 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) Value is zero.

As of May 31, 2025, the Fund held restricted securities, other than securities sold to the Funds under Rule 144A and/or Regulation S under the Securities Act, as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security** | **Acquisition** <br>**Date**<br>| **Cost** | **Market** <br>**Value**<br>| **Percentage** <br>**of Fund's** <br>**Net Assets**<br>|
| Claire's Stores, Inc. - Common Stocks | 11/28/2018 | $2873 | $—<br> (a)<br>| 0.0<br> %<br>|
| Claire's Stores, Inc. - Convertible Preferred Stocks | 10/3/2018 | 4630 | —<br> (a)<br>| 0.0<br> %<br>|
|  |  | $7503 | $—<br> (a)<br>|  |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Value is zero.

**B. Investment Transactions with Affiliates**— The Fund invested in an Underlying Fund 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 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 May 31, 2025** | **For the period ended May 31, 2025** | **For the period ended May 31, 2025** | **For the period ended May 31, 2025** | **For the period ended May 31, 2025** | **For the period ended May 31, 2025** | **For the period ended May 31, 2025** | **For the period ended May 31, 2025** | **For the period ended May 31, 2025** | **For the period ended May 31, 2025** |
| **Security Description** | **Value at** <br>**February 28,** <br>**2025**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**May 31,** <br>**2025**<br>| **Shares at** <br>**May 31,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund <br> Class Institutional Shares, 4.16% (a) (b)<br>| $9982 | $48531 | $50442 | $— | $— | $8071 | 8071 | $73 | $— |

---

&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 May 31, 2025.

**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,

------

**JPMorgan Floating Rate Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF May 31, 2025 (Unaudited) (continued)

(Dollar values in thousands)

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.

**(1). 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.

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.

------

## 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 Floating Rate Income Fund

- **b. EDGAR series identifier (if any):** S000032548

- **c. LEI of Series:** K21GU2WTRTI2PVQVCH83

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $228471554.07

**Total Liabilities:** $3759052.29

**Net Assets:** $224712501.78

**Cash Not Reported:** $1294603.21

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1728.27960000 | **1-Year:** 422.94459000 | **5-Year:** 1078.26740000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 17.36608000 | **1-Year:** 9809.21468000 | **5-Year:** 61405.05883000 | **10-Year:** 44.73875000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000132280 | -0.91%               | -0.62%               | 1.00%                |
| Class ID C000100364 | -0.79%               | -0.63%               | 0.87%                |
| Class ID C000100362 | -0.82%               | -0.65%               | 0.85%                |
| Class ID C000100363 | -0.98%               | -0.70%               | 0.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $52038.55                | $-4324892.49                               |
| Month 2  | $-1567398.73             | $-1962282.11                               |
| Month 3  | $-951281.79              | $1642417.11                                |

**Designated Index Information**

- **Index Name:** LEVLOAN Index

- **Index Identifier:** LLTRUSD0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NMG, Inc.                                       | NMG, Inc.                                                                | CUSIP: 62929P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1130 | NS      | $155680.10    | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| NorthRiver Midstream Finance LP                 | NorthRiver Midstream Finance LP, 1st Lien Term Loan B                    | CUSIP: 66679PAB1<br>LEI: 549300SOLNLY3BL6GF18 | Long             | LON              | CORP              | CA        |     1495530 | PA      | $1495739.68   | 0.67%             | 2030-08-16      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| Griffon Corp.                                   | Griffon Corp., 1st Lien Term Loan B                                      | CUSIP: 39843GAK9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      481678 | PA      | $480623.01    | 0.21%             | 2029-01-24      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| Hess Midstream Operations LP                    | Hess Midstream Operations LP                                             | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      103000 | PA      | $104013.93    | 0.05%             | 2028-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Shutterfly Finance LLC                          | Shutterfly Finance LLC, 2nd Lien Term Loan                               | CUSIP: 82568TAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      990897 | PA      | $877151.50    | 0.39%             | 2027-10-01      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.             | American Axle & Manufacturing, Inc., 1st Lien Term Loan B                | CUSIP: 02406MAU1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1000000 | PA      | $990000.00    | 0.44%             | 2029-12-13      | Variable      | 7.11%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corp.                      | Garda World Security Corp., 1st Lien Term Loan                           | CUSIP: C4000KAG9<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |     1520711 | PA      | $1514369.17   | 0.67%             | 2029-02-01      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| BIFM CA Buyer, Inc.                             | BIFM CA Buyer, Inc., 1st Lien Term Loan                                  | CUSIP: G0757GAG7<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |      574410 | PA      | $574410.38    | 0.26%             | 2028-05-31      | Variable      | 8.08%                 | No            |                  2 | On Loan: No      |
| Hertz Corp. (The)                               | Hertz Corp. (The), 1st Lien Term Loan C                                  | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |      240231 | PA      | $198341.80    | 0.09%             | 2028-06-30      | Variable      | 7.94%                 | No            |                  2 | On Loan: No      |
| GOAT Holdco LLC                                 | GOAT Holdco LLC, 1st Lien Term Loan B                                    | CUSIP: 38021CAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      700000 | PA      | $696941.00    | 0.31%             | 2032-01-27      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| Belron Finance 2019 LLC                         | Belron Finance 2019 LLC, 1st Lien Term Loan                              | CUSIP: 08078UAM5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      710099 | PA      | $712407.31    | 0.32%             | 2031-10-16      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| Mister Car Wash Holdings, Inc.                  | Mister Car Wash Holdings, Inc., 1st Lien Term Loan                       | CUSIP: 60646CAK3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      798242 | PA      | $797244.03    | 0.35%             | 2031-03-27      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                        | Lumen Technologies, Inc., 1st Lien Term Loan B-2                         | CUSIP: 55024EAG0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      544896 | PA      | $538918.90    | 0.24%             | 2030-04-15      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| Proofpoint, Inc.                                | Proofpoint, Inc., 1st Lien Term Loan                                     | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |     1146845 | PA      | $1145732.26   | 0.51%             | 2028-08-31      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                               | Clarios Global LP, 1st Lien Term Loan                                    | CUSIP: C8000CAM5<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |      493756 | PA      | $490546.83    | 0.22%             | 2030-05-06      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| Ahead DB Holdings LLC                           | Ahead DB Holdings LLC, 1st Lien Term Loan B-3                            | CUSIP: 00866HAH8<br>LEI: 254900L07WFL833JX193 | Long             | LON              | CORP              | US        |     1016624 | PA      | $1016766.32   | 0.45%             | 2031-02-03      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                      | Cloud Software Group, Inc., 1st Lien Term Loan B                         | CUSIP: 88632NBE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      871620 | PA      | $869031.29    | 0.39%             | 2031-03-21      | Variable      | 8.05%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.             | American Axle & Manufacturing, Inc.                                      | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |      500000 | PA      | $497601.30    | 0.22%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Vista Management Holding Inc.                   | Vista Management Holding, Inc., 1st Lien Term Loan                       | CUSIP: 92842EAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      465116 | PA      | $464730.23    | 0.21%             | 2031-04-01      | Variable      | 8.05%                 | No            |                  2 | On Loan: No      |
| Trans Union LLC                                 | Trans Union LLC, 1st Lien Term Loan B-9                                  | CUSIP: 89334GBG8<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |      830019 | PA      | $829097.42    | 0.37%             | 2031-06-24      | Variable      | 6.08%                 | No            |                  2 | On Loan: No      |
| Coherent Corp.                                  | Coherent Corp., 1st Lien Term Loan B-2                                   | CUSIP: 45173JAS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1336062 | PA      | $1337732.49   | 0.60%             | 2029-07-02      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| Crosby US Acquisition Corp.                     | Crosby US Acquisition Corp., 1st Lien Term Loan                          | CUSIP: 22739PAP1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      834469 | PA      | $834994.90    | 0.37%             | 2029-08-16      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                | Modena Buyer LLC, 1st Lien Term Loan                                     | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |     1174100 | PA      | $1137409.38   | 0.51%             | 2031-07-01      | Variable      | 8.78%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                  | DISH DBS Corp.                                                           | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      750000 | PA      | $692314.55    | 0.31%             | 2026-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Ecovyst Catalyst Technologies LLC               | Ecovyst Catalyst Technologies LLC, 1st Lien Term Loan                    | CUSIP: 27922JAC0<br>LEI: 254900NH3N3I82Z6Q744 | Long             | LON              | CORP              | US        |     1134167 | PA      | $1125841.90   | 0.50%             | 2031-06-12      | Variable      | 6.28%                 | No            |                  2 | On Loan: No      |
| Osmose Utilities Services, Inc.                 | Osmose Utilities Services, Inc., 1st Lien Term Loan                      | CUSIP: 68835HAH3<br>LEI: 549300FSLVHLFZ3S0D82 | Long             | LON              | CORP              | US        |     1163233 | PA      | $1160906.65   | 0.52%             | 2028-06-23      | Variable      | 7.69%                 | No            |                  2 | On Loan: No      |
| Insulet Corp.                                   | Insulet Corp., 1st Lien Term Loan A                                      | CUSIP: 45784QAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1485889 | PA      | $1490406.28   | 0.66%             | 2031-08-01      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                | Altice France SA, 1st Lien Term Loan B-14                                | CUSIP: F6628DAN4<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |      622876 | PA      | $572167.88    | 0.25%             | 2028-08-15      | Variable      | 9.76%                 | No            |                  2 | On Loan: No      |
| EPIC Crude Services LP                          | EPIC Crude Services LP, 1st Lien Term Loan                               | CUSIP: 29428XAG5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1059844 | PA      | $1062164.81   | 0.47%             | 2031-10-15      | Variable      | 7.26%                 | No            |                  2 | On Loan: No      |
| AAdvantage Loyalty IP Ltd.                      | AAdvantage Loyalty IP Ltd., 1st Lien Term Loan                           | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1208337 | PA      | $1194440.64   | 0.53%             | 2028-04-20      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| TK Elevator Midco GmbH                          | TK Elevator Midco GmbH, 1st Lien Term Loan B-1                           | CUSIP: D9000BAJ1<br>LEI: N/A                  | Long             | LON              | CORP              | DE        |     1491819 | PA      | $1494191.48   | 0.66%             | 2030-04-30      | Variable      | 7.24%                 | No            |                  2 | On Loan: No      |
| Ingram Micro, Inc.                              | Ingram Micro, Inc., 1st Lien Term Loan B                                 | CUSIP: 45258FAD2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      622601 | PA      | $625327.81    | 0.28%             | 2031-09-19      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| DexKo Global, Inc.                              | DexKo Global, Inc., 1st Lien Term Loan                                   | CUSIP: 25213YAU9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1271908 | PA      | $1212650.02   | 0.54%             | 2028-10-04      | Variable      | 8.19%                 | No            |                  2 | On Loan: No      |
| Ahead DB Holdings LLC                           | Ahead DB Holdings LLC                                                    | CUSIP: 00867FAA6<br>LEI: 254900L07WFL833JX193 | Long             | DBT              | CORP              | US        |      275000 | PA      | $271003.84    | 0.12%             | 2028-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Kinetik Holdings LP                             | Kinetik Holdings LP                                                      | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     1000000 | PA      | $1019852.67   | 0.45%             | 2028-12-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                        | Wynn Resorts Finance LLC                                                 | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1100000 | PA      | $1072649.49   | 0.48%             | 2029-10-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| St. George's University Scholastic Services LLC | St. George's University Scholastic Services LLC, 1st Lien Term Loan      | CUSIP: 78957LAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      966192 | PA      | $950896.71    | 0.42%             | 2029-02-12      | Variable      | 7.06%                 | No            |                  2 | On Loan: No      |
| Madison Safety & Flow LLC                       | Madison Safety & Flow LLC, 1st Lien Term Loan                            | CUSIP: 55822DAM3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1201450 | PA      | $1202206.91   | 0.53%             | 2031-09-26      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Varsity Brands, Inc.                            | Varsity Brands, Inc., 1st Lien Term Loan B                               | CUSIP: 92227QAF3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1415333 | PA      | $1404718.33   | 0.63%             | 2031-08-26      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| Grant Thornton Advisors LLC                     | Grant Thornton Advisors LLC, 1st Lien Term Loan                          | CUSIP: 38821UAD2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1646735 | PA      | $1639802.59   | 0.73%             | 2031-06-02      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Iridium Satellite LLC                           | Iridium Satellite LLC, 1st Lien Term Loan B                              | CUSIP: 46269KAT1<br>LEI: 254900615BJ7139TFM33 | Long             | LON              | CORP              | US        |     1139317 | PA      | $1135398.06   | 0.51%             | 2030-09-20      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| USI, Inc.                                       | USI, Inc., 1st Lien Term Loan                                            | CUSIP: 90351NAQ8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      493772 | PA      | $491243.78    | 0.22%             | 2030-09-27      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund      | JPMorgan U.S. Government Money Market Fund, Class Institutional          | CUSIP: 4812C2684<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |     8071131 | NS      | $8071130.55   | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CPI Holdco B LLC                                | CPI Holdco B LLC, 1st Lien Term Loan                                     | CUSIP: 1261MAAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      470000 | PA      | $469511.20    | 0.21%             | 2031-05-19      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| First Student Bidco, Inc.                       | First Student Bidco, Inc., 1st Lien Term Loan B                          | CUSIP: 33718FAK6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      482014 | PA      | $481879.11    | 0.21%             | 2028-07-21      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| Primo Brands Corp.                              | Primo Brands Corp., 1st Lien Term Loan                                   | CUSIP: 89678QAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1406083 | PA      | $1405731.07   | 0.63%             | 2028-03-31      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.           | Clydesdale Acquisition Holdings, Inc., 1st Lien Delayed Draw Term Loan B | CUSIP: 18972FAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |         509 | PA      | $504.88       | 0.00%             | 2032-04-01      | Variable      | 7.48%                 | No            |                  2 | On Loan: No      |
| B&G Foods, Inc.                                 | B&G Foods, Inc., 1st Lien Term Loan B-5                                  | CUSIP: 05508TAV4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      503800 | PA      | $460977.15    | 0.21%             | 2029-10-10      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| Prairie Acquiror LP                             | Prairie Acquiror LP, 1st Lien Term Loan B-3                              | CUSIP: 73955HAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1228342 | PA      | $1232186.46   | 0.55%             | 2029-08-01      | Variable      | 8.58%                 | No            |                  2 | On Loan: No      |
| DIRECTV Financing LLC                           | DIRECTV Financing LLC, 1st Lien Term Loan                                | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       98133 | PA      | $98405.06     | 0.04%             | 2027-08-02      | Variable      | 9.54%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.            | Clear Channel Outdoor Holdings, Inc.                                     | CUSIP: 18453H106<br>LEI: 254900XBEE6V1ENYS150 | Long             | EC               | CORP              | US        |      283988 | NS      | $303867.16    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Arches Buyer, Inc.                              | Arches Buyer, Inc., 1st Lien Term Loan                                   | CUSIP: 03952HAD6<br>LEI: 2549009ADY4208OH2Y47 | Long             | LON              | CORP              | US        |      826853 | PA      | $813069.36    | 0.36%             | 2027-12-06      | Variable      | 7.68%                 | No            |                  2 | On Loan: No      |
| VT Topco, Inc.                                  | VT Topco, Inc., 1st Lien Term Loan                                       | CUSIP: 91838LAK6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1481291 | PA      | $1482772.05   | 0.66%             | 2030-08-09      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                   | Staples, Inc., 1st Lien Term Loan                                        | CUSIP: 855031AU4<br>LEI: XQM2JINI1UL7642TU573 | Long             | LON              | CORP              | US        |     1447659 | PA      | $1292296.44   | 0.58%             | 2029-08-23      | Variable      | 10.03%                | No            |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                    | Scotts Miracle-Gro Co. (The)                                             | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     1000000 | PA      | $950773.80    | 0.42%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| First Student Bidco, Inc.                       | First Student Bidco, Inc., 1st Lien Term Loan B-2                        | CUSIP: 33718FAL4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      629130 | PA      | $629130.02    | 0.28%             | 2028-07-21      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| ACProducts Holdings, Inc.                       | ACProducts Holdings, Inc., 1st Lien Term Loan                            | CUSIP: 00488YAB2<br>LEI: 254900KTNXVUUHWHBF39 | Long             | LON              | CORP              | US        |      654260 | PA      | $480338.33    | 0.21%             | 2028-05-17      | Variable      | 8.81%                 | No            |                  2 | On Loan: No      |
| Pike Corp.                                      | Pike Corp., 1st Lien Term Loan                                           | CUSIP: 72108PAR5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | LON              | CORP              | US        |     1612875 | PA      | $1619326.55   | 0.72%             | 2028-01-21      | Variable      | 7.44%                 | No            |                  2 | On Loan: No      |
| AHP Health Partners, Inc.                       | AHP Health Partners, Inc., 1st Lien Term Loan B                          | CUSIP: 00130MAK0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1003507 | PA      | $1006437.54   | 0.45%             | 2028-08-24      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| White Cap Supply Holdings LLC                   | White Cap Supply Holdings LLC, 1st Lien Term Loan C                      | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |     1150752 | PA      | $1137898.50   | 0.51%             | 2029-10-19      | Variable      | 7.58%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.            | Clear Channel Outdoor Holdings, Inc., 1st Lien Term Loan                 | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |     1776422 | PA      | $1737713.77   | 0.77%             | 2028-08-23      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| INEOS US Finance LLC                            | INEOS US Finance LLC, 1st Lien Term Loan                                 | CUSIP: G4768PAN1<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |     1454014 | PA      | $1404039.47   | 0.62%             | 2030-02-18      | Variable      | 7.58%                 | No            |                  2 | On Loan: No      |
| Altafiber Virginia LLC                          | Altafiber Virginia LLC, 1st Lien Term Loan B-4                           | CUSIP: 17187MAT7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1089550 | PA      | $1090683.39   | 0.49%             | 2028-11-22      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Guardian US Holdco LLC                          | Guardian US Holdco LLC, 1st Lien Term Loan                               | CUSIP: 40147EAB5<br>LEI: 254900OSYC6XQ21DY128 | Long             | LON              | CORP              | US        |      982562 | PA      | $962704.91    | 0.43%             | 2030-01-31      | Variable      | 7.80%                 | No            |                  2 | On Loan: No      |
| Raven Acquisition Holdings LLC                  | Raven Acquisition Holdings LLC, 1st Lien Term Loan                       | CUSIP: 75419XAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1454231 | PA      | $1450595.50   | 0.65%             | 2031-11-19      | Variable      | 7.58%                 | No            |                  2 | On Loan: No      |
| Icon Parent, Inc.                               | Icon Parent, Inc., 1st Lien Term Loan                                    | CUSIP: 45115DAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1100000 | PA      | $1098537.00   | 0.49%             | 2031-11-13      | Variable      | 7.21%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                      | Avis Budget Car Rental LLC                                               | CUSIP: 053773BG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1250000 | PA      | $1197270.04   | 0.53%             | 2028-04-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Leslie's Poolmart, Inc.                         | Leslie's Poolmart, Inc., 1st Lien Term Loan B                            | CUSIP: 52706YAJ2<br>LEI: 549300MZRH1GJYUMRM83 | Long             | LON              | CORP              | US        |     1504413 | PA      | $1117809.25   | 0.50%             | 2028-03-09      | Variable      | 7.19%                 | No            |                  2 | On Loan: No      |
| RealPage, Inc.                                  | RealPage, Inc., 1st Lien Term Loan                                       | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |      779324 | PA      | $772684.00    | 0.34%             | 2028-04-24      | Variable      | 7.56%                 | No            |                  2 | On Loan: No      |
| Claire's Stores, Inc.                           | Claire's Stores, Inc.                                                    | CUSIP: N/A<br>LEI: 549300N5HNYXI6JY7625       | Long             | EC               | CORP              | US        |        3389 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LABL, Inc.                                      | LABL, Inc., 1st Lien Term Loan B                                         | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |     1506529 | PA      | $1338792.45   | 0.60%             | 2028-10-30      | Variable      | 9.43%                 | No            |                  2 | On Loan: No      |
| Endo Finance Holdings, Inc.                     | Endo Finance Holdings, Inc., 1st Lien Term Loan                          | CUSIP: 29280UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1243750 | PA      | $1213439.81   | 0.54%             | 2031-04-23      | Variable      | 8.33%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                               | EMRLD Borrower LP, 1st Lien Term Loan                                    | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |      788538 | PA      | $784105.92    | 0.35%             | 2031-08-04      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                 | TransDigm, Inc., 1st Lien Term Loan J                                    | CUSIP: 89364MCA0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1152053 | PA      | $1151672.84   | 0.51%             | 2031-02-28      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                 | Moran Foods LLC, 1st Lien PIK Term Loan                                  | CUSIP: 61647DAT9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     3938060 | PA      | $3113430.13   | 1.39%             | 2026-06-30      | Variable      | 2.00%                 | No            |                  3 | On Loan: No      |
| Asurion LLC                                     | Asurion LLC, 1st Lien Term Loan B-9                                      | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |      284892 | PA      | $282991.48    | 0.13%             | 2027-07-30      | Variable      | 7.69%                 | No            |                  2 | On Loan: No      |
| Rocket Software, Inc.                           | Rocket Software, Inc., 1st Lien Term Loan                                | CUSIP: 77313DAW1<br>LEI: 549300PVG26ISP5X1556 | Long             | LON              | CORP              | US        |      620950 | PA      | $621378.46    | 0.28%             | 2028-11-28      | Variable      | 8.58%                 | No            |                  2 | On Loan: No      |
| Wand NewCo 3, Inc.                              | Wand NewCo 3, Inc., 1st Lien Term Loan                                   | CUSIP: 93369PAM6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1250884 | PA      | $1238237.73   | 0.55%             | 2031-01-30      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| Surgery Center Holdings, Inc.                   | Surgery Center Holdings, Inc., 1st Lien Term Loan                        | CUSIP: 86880NBB8<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |     1009800 | PA      | $1010961.27   | 0.45%             | 2030-12-19      | Variable      | 7.08%                 | No            |                  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        |     1237685 | PA      | $787997.22    | 0.35%             | 2026-12-18      | Variable      | 10.73%                | No            |                  2 | On Loan: No      |
| Clarios Global LP                               | Clarios Global LP, 1st Lien Term Loan                                    | CUSIP: C8000CAP8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      590000 | PA      | $587970.40    | 0.26%             | 2032-01-28      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio LLC                             | Sirius XM Radio LLC                                                      | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     1600000 | PA      | $1518293.76   | 0.68%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                             | Medline Borrower LP, 1st Lien Term Loan                                  | CUSIP: 58503UAF0<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |     2498618 | PA      | $2495719.22   | 1.11%             | 2028-10-23      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| DCert Buyer, Inc.                               | DCert Buyer, Inc., 2nd Lien Term Loan                                    | CUSIP: 24022KAJ8<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |      345000 | PA      | $297562.50    | 0.13%             | 2029-02-16      | Variable      | 11.33%                | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC               | Alliant Holdings Intermediate LLC, 1st Lien Term Loan                    | CUSIP: 01881UAM7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1433848 | PA      | $1427352.18   | 0.64%             | 2031-09-19      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                 | Live Nation Entertainment, Inc., 1st Lien Term Loan B-4                  | CUSIP: 53803HAM2<br>LEI: 5493007B9BM9ZXJINO78 | Long             | LON              | CORP              | US        |      916843 | PA      | $914935.83    | 0.41%             | 2026-10-19      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Banijay Entertainment SAS                       | Banijay Entertainment SAS, 1st Lien Term Loan B-3                        | CUSIP: F6456UAE3<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |           0 | PA      | $0.01         | 0.00%             | 2028-03-01      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| NCR Atleos Corp.                                | NCR Atleos Corp., 1st Lien Term Loan B                                   | CUSIP: 63001PAF8<br>LEI: 9845005FC3S0VA714741 | Long             | LON              | CORP              | US        |      712983 | PA      | $716105.77    | 0.32%             | 2029-03-27      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                               | EMRLD Borrower LP, 1st Lien Term Loan B                                  | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |     1039800 | PA      | $1033904.63   | 0.46%             | 2030-05-31      | Variable      | 6.93%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.           | Clydesdale Acquisition Holdings, Inc., 1st Lien Term Loan B              | CUSIP: 18972FAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      970684 | PA      | $962647.04    | 0.43%             | 2032-04-01      | Variable      | 7.55%                 | No            |                  2 | On Loan: No      |
| iHeartMedia, Inc.                               | iHeartMedia, Inc., Class A                                               | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       61917 | NS      | $81111.27     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Moran Foods LLC                                 | Moran Foods LLC, 2nd Lien PIK Term Loan                                  | CUSIP: 61647DAU6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     3222648 | PA      | $1553638.80   | 0.69%             | 2026-06-30      | Variable      | 2.00%                 | No            |                  3 | On Loan: No      |
| AZZ, Inc.                                       | AZZ, Inc., 1st Lien Term Loan                                            | CUSIP: 00247NAG7<br>LEI: 549300HD1X2NFLWPYC83 | Long             | LON              | CORP              | US        |      935599 | PA      | $938171.91    | 0.42%             | 2029-05-14      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| Gates Global LLC                                | Gates Global LLC, 1st Lien Term Loan B-4                                 | CUSIP: 36740UAX0<br>LEI: 549300XI79MQJV13DW27 | Long             | LON              | CORP              | US        |      243750 | PA      | $243496.50    | 0.11%             | 2029-11-16      | Variable      | 6.08%                 | No            |                  2 | On Loan: No      |
| CD&R Smokey Buyer, Inc.                         | CD&R Smokey Buyer, Inc.                                                  | CUSIP: 12515KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      665000 | PA      | $551950.00    | 0.25%             | 2029-10-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Mirion Technologies, Inc.                       | Mirion Technologies, Inc., 1st Lien Term Loan B                          | CUSIP: 60470HAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1005049 | PA      | $1005360.44   | 0.45%             | 2028-10-20      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| First Student Bidco, Inc.                       | First Student Bidco, Inc., 1st Lien Term Loan C                          | CUSIP: 33718FAM2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      252079 | PA      | $252007.99    | 0.11%             | 2028-07-21      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group, Inc.                        | AthenaHealth Group, Inc., 1st Lien Term Loan                             | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |     1717500 | PA      | $1709221.26   | 0.76%             | 2029-02-15      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| USI, Inc.                                       | USI, Inc., 1st Lien Term Loan D                                          | CUSIP: 90351NAR6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1013297 | PA      | $1009659.23   | 0.45%             | 2029-11-21      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                 | Moran Foods LLC, 1st Lien Super Senior Delayed Draw Term Loan            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      665584 | PA      | $665583.73    | 0.30%             | 2026-06-30      | Variable      | 15.92%                | No            |                  3 | On Loan: No      |
| SPX FLOW, Inc.                                  | SPX FLOW, Inc., 1st Lien Term Loan B                                     | CUSIP: 78470DAV0<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |     1638879 | PA      | $1642976.48   | 0.73%             | 2029-04-05      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| EW Scripps Co. (The)                            | EW Scripps Co. (The), 1st Lien Term Loan B-3                             | CUSIP: 26928BAR0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      878630 | PA      | $786189.27    | 0.35%             | 2029-11-30      | Variable      | 7.80%                 | No            |                  2 | On Loan: No      |
| PetSmart LLC                                    | PetSmart LLC, 1st Lien Term Loan                                         | CUSIP: 71677HAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1163740 | PA      | $1158165.73   | 0.52%             | 2028-02-11      | Variable      | 8.18%                 | No            |                  2 | On Loan: No      |
| Acuren Holdings, Inc.                           | Acuren Holdings, Inc., 1st Lien Term Loan                                | CUSIP: 00036YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1137790 | PA      | $1136720.12   | 0.51%             | 2031-07-30      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| Radiology Partners, Inc.                        | Radiology Partners, Inc., 1st Lien Term Loan B                           | CUSIP: 75041EAJ1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      818328 | PA      | $810602.91    | 0.36%             | 2029-01-31      | Variable      | 8.09%                 | No            |                  2 | On Loan: No      |
| CPPIB OVM Member US LLC                         | CPPIB OVM Member US LLC, 1st Lien Term Loan                              | CUSIP: 12673CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1404010 | PA      | $1394364.72   | 0.62%             | 2031-08-20      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| Crown Finance US, Inc.                          | Crown Finance US, Inc., 1st Lien Term Loan                               | CUSIP: 22834KAU5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1266825 | PA      | $1267281.06   | 0.56%             | 2031-12-02      | Variable      | 9.58%                 | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                 | Moran Foods LLC, 1st Lien Term Loan A                                    | CUSIP: 61647DAX0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      810376 | PA      | $810376.36    | 0.36%             | 2029-01-02      | Variable      | 6.28%                 | No            |                  3 | On Loan: No      |
| Adient US LLC                                   | Adient US LLC, 1st Lien Term Loan B-2                                    | CUSIP: 00687MAH4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1693393 | PA      | $1683978.07   | 0.75%             | 2031-01-31      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC            | Prime Security Services Borrower LLC, 1st Lien Term Loan B-1             | CUSIP: 03765VAP5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1577453 | PA      | $1575844.32   | 0.70%             | 2030-10-15      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| Conservice Midco LLC                            | Conservice Midco LLC, 1st Lien Term Loan                                 | CUSIP: 20848PAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1176273 | PA      | $1176272.99   | 0.52%             | 2030-05-13      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| Naked Juice LLC                                 | Naked Juice LLC, 1st Lien Term Loan                                      | CUSIP: 62984CAM5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      508362 | PA      | $360210.29    | 0.16%             | 2029-01-24      | Variable      | 7.56%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                 | Madison IAQ LLC, 1st Lien Term Loan                                      | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |     1564561 | PA      | $1562448.91   | 0.70%             | 2028-06-21      | Variable      | 6.76%                 | No            |                  2 | On Loan: No      |
| CPI Holdco B LLC                                | CPI Holdco B LLC, 1st Lien Term Loan                                     | CUSIP: 1261MAAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1014900 | PA      | $1012677.37   | 0.45%             | 2031-05-19      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| Park River Holdings, Inc.                       | Park River Holdings, Inc., 1st Lien Term Loan                            | CUSIP: 70082HAC0<br>LEI: 254900PGY077KWCROT75 | Long             | LON              | CORP              | US        |     1226982 | PA      | $1178320.27   | 0.52%             | 2027-12-28      | Variable      | 7.80%                 | No            |                  2 | On Loan: No      |
| NMG Parent LLC                                  | NMG Parent LLC, Escrow                                                   | CUSIP: 629ESC039<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       15710 | NS      | $403747.00    | 0.18%             |  |  |  | No            |                  3 | On Loan: No      |
| LSF12 Crown US Commercial Bidco LLC             | LSF12 Crown US Commercial Bidco LLC, 1st Lien Term Loan                  | CUSIP: 50221UAC5<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |     1300000 | PA      | $1276444.00   | 0.57%             | 2031-12-02      | Variable      | 8.57%                 | No            |                  2 | On Loan: No      |
| Bleriot US Bidco, Inc.                          | Bleriot US Bidco, Inc., 1st Lien Term Loan                               | CUSIP: 09353TAJ9<br>LEI: 254900ALCQ2A2VYD5Z08 | Long             | LON              | CORP              | US        |      793502 | PA      | $794065.60    | 0.35%             | 2030-10-31      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                 | TransDigm, Inc., 1st Lien Term Loan K                                    | CUSIP: 89364MCB8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |      681330 | PA      | $682890.25    | 0.30%             | 2030-03-22      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| Ascent Resources Utica Holdings LLC             | Ascent Resources Utica Holdings LLC                                      | CUSIP: 04364VAR4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      500000 | PA      | $507529.00    | 0.23%             | 2028-12-31      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Altar Bidco, Inc.                               | Altar Bidco, Inc., 2nd Lien Term Loan                                    | CUSIP: 02090CAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      896250 | PA      | $837993.75    | 0.37%             | 2030-02-01      | Variable      | 9.75%                 | No            |                  2 | On Loan: No      |
| Virtusa Corp.                                   | Virtusa Corp., 1st Lien Term Loan B-2                                    | CUSIP: 92828KAP7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1193964 | PA      | $1194561.34   | 0.53%             | 2029-02-15      | Variable      | 7.58%                 | No            |                  2 | On Loan: No      |
| Serta Simmons Bedding LLC                       | Serta Simmons Bedding LLC, 1st Lien Term Loan                            | CUSIP: 81753HAJ0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      633452 | PA      | $573951.70    | 0.26%             | 2028-06-29      | Variable      | 11.91%                | No            |                  2 | On Loan: No      |
| Asurion LLC                                     | Asurion LLC, 2nd Lien Term Loan B-3                                      | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     1235000 | PA      | $1190231.25   | 0.53%             | 2028-01-31      | Variable      | 9.69%                 | No            |                  2 | On Loan: No      |
| Vertiv Group Corp.                              | Vertiv Group Corp., 1st Lien Term Loan B-3                               | CUSIP: 92537EAF5<br>LEI: 549300ZT8RQ5VK10E643 | Long             | LON              | CORP              | US        |     1429468 | PA      | $1427638.07   | 0.64%             | 2027-03-02      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                      | iHeartCommunications, Inc., 1st Lien Term Loan B                         | CUSIP: 45174UAJ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     2077594 | PA      | $1699076.90   | 0.76%             | 2029-05-01      | Variable      | 10.21%                | No            |                  2 | On Loan: No      |
| Gray Media, Inc.                                | Gray Media, Inc., 1st Lien Term Loan D                                   | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |      914606 | PA      | $880217.03    | 0.39%             | 2028-12-01      | Variable      | 7.44%                 | No            |                  2 | On Loan: No      |
| Enviri Corp.                                    | Enviri Corp., 1st Lien Term Loan B-3                                     | CUSIP: 41587CAR9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | LON              | CORP              | US        |     1413214 | PA      | $1390249.08   | 0.62%             | 2028-06-09      | Variable      | 6.69%                 | No            |                  2 | On Loan: No      |
| Petco Health & Wellness Co., Inc.               | Petco Health & Wellness Co., Inc., 1st Lien Term Loan                    | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |      955675 | PA      | $883483.20    | 0.39%             | 2028-03-03      | Variable      | 7.81%                 | No            |                  2 | On Loan: No      |
| Genesee & Wyoming, Inc.                         | Genesee & Wyoming, Inc., 1st Lien Term Loan                              | CUSIP: 37156QAZ9<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |     1270283 | PA      | $1263690.56   | 0.56%             | 2031-04-10      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                        | Spirit AeroSystems, Inc., 1st Lien Term Loan                             | CUSIP: 84857HAY6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | LON              | CORP              | US        |      775125 | PA      | $775450.55    | 0.35%             | 2027-01-15      | Variable      | 8.78%                 | No            |                  2 | On Loan: No      |
| US Renal Care, Inc.                             | US Renal Care, Inc., 1st Lien Term Loan C                                | CUSIP: 90290PAS3<br>LEI: 54930058SS5MF69JGN89 | Long             | LON              | CORP              | US        |      797749 | PA      | $751025.28    | 0.33%             | 2028-06-28      | Variable      | 9.44%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                | CCO Holdings LLC                                                         | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2250000 | PA      | $2109714.30   | 0.94%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                          | HUB International Ltd., 1st Lien Term Loan                               | CUSIP: 44332EAZ9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1448909 | PA      | $1448372.98   | 0.64%             | 2030-06-20      | Variable      | 6.77%                 | No            |                  2 | On Loan: No      |
| Endo, Inc.                                      | Endo, Inc.                                                               | CUSIP: 29290D117<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        9402 | NS      | $197442.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments LLC                             | Shift4 Payments LLC, 1st Lien Term Loan                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      565000 | PA      | $568293.95    | 0.25%             | 2032-05-07      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| KBR, Inc.                                       | KBR, Inc., 1st Lien Term Loan B                                          | CUSIP: 48242YAW2<br>LEI: 254900OFQDXZRKRCV808 | Long             | LON              | CORP              | US        |     1027039 | PA      | $1028323.19   | 0.46%             | 2031-01-17      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| WR Grace Holdings LLC                           | WR Grace Holdings LLC, 1st Lien Term Loan                                | CUSIP: 92943HAB5<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |      917389 | PA      | $913719.19    | 0.41%             | 2028-09-22      | Variable      | 7.55%                 | No            |                  2 | On Loan: No      |
| Chemours Co. (The)                              | Chemours Co. (The)                                                       | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     1250000 | PA      | $1119257.25   | 0.50%             | 2028-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BCP VI Summit Holdings LP                       | BCP VI Summit Holdings LP, 1st Lien Term Loan                            | CUSIP: 05614GAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1025000 | PA      | $1028075.00   | 0.46%             | 2032-01-30      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| Zekelman Industries, Inc.                       | Zekelman Industries, Inc., 1st Lien Term Loan                            | CUSIP: 98931YAD5<br>LEI: 549300S5LMRAKDWWI425 | Long             | LON              | CORP              | US        |      740630 | PA      | $737237.64    | 0.33%             | 2031-01-24      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                     | Allied Universal Holdco LLC, 1st Lien Term Loan                          | CUSIP: 01957TAH0<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |     1037166 | PA      | $1038141.25   | 0.46%             | 2028-05-12      | Variable      | 8.18%                 | No            |                  2 | On Loan: No      |
| Project Boost Purchaser LLC                     | Project Boost Purchaser LLC, 1st Lien Term Loan                          | CUSIP: 74339NAG1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1333057 | PA      | $1330631.05   | 0.59%             | 2031-07-16      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| WhiteWater Whistler Holdings LLC                | WhiteWater Whistler Holdings LLC, 1st Lien Term Loan B-3                 | CUSIP: 96620EAF4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      643753 | PA      | $640733.35    | 0.29%             | 2030-02-15      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| Icon Parent, Inc.                               | Icon Parent, Inc., 2nd Lien Term Loan                                    | CUSIP: 45115MAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      320000 | PA      | $320000.00    | 0.14%             | 2032-11-12      | Variable      | 9.21%                 | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                 | Moran Foods LLC, 1st Lien Term Loan                                      | CUSIP: 61647DAY8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      707727 | PA      | $707726.89    | 0.31%             | 2029-01-02      | Variable      | 12.70%                | No            |                  3 | On Loan: No      |
| Naked Juice LLC                                 | Naked Juice LLC, 1st Lien Term Loan                                      | CUSIP: 62984CAN3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      508362 | PA      | $177926.81    | 0.08%             | 2030-01-24      | Variable      | 10.31%                | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                     | Caesars Entertainment, Inc., 1st Lien Term Loan B-1                      | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |     1336500 | PA      | $1330231.82   | 0.59%             | 2031-02-06      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                             | Buckeye Partners LP, 1st Lien Term Loan B-5                              | CUSIP: 11823LAP0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      242029 | PA      | $242084.54    | 0.11%             | 2026-11-02      | Variable      | 6.08%                 | No            |                  2 | On Loan: No      |
| DCert Buyer, Inc.                               | DCert Buyer, Inc., 1st Lien Term Loan                                    | CUSIP: 24022KAB5<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |      328455 | PA      | $323784.64    | 0.14%             | 2026-10-16      | Variable      | 8.33%                 | No            |                  2 | On Loan: No      |
| Altar Bidco, Inc.                               | Altar Bidco, Inc., 1st Lien Term Loan B                                  | CUSIP: 02090CAE0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1155565 | PA      | $1139964.40   | 0.51%             | 2029-02-01      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| Shutterfly Finance LLC                          | Shutterfly Finance LLC, 1st Lien Term Loan B                             | CUSIP: 82568TAD0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      217787 | PA      | $217140.17    | 0.10%             | 2027-10-01      | Variable      | 10.28%                | No            |                  2 | On Loan: No      |
| ICON Luxembourg SARL                            | ICON Luxembourg SARL, 1st Lien Term Loan                                 | CUSIP: L5000DAE7<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | LU        |      227809 | PA      | $228435.20    | 0.10%             | 2028-07-03      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| SSB Equipment Co., Inc.                         | SSB Equipment Co., Inc.                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       31013 | NS      | $0.03         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Serta Simmons Bedding LLC                       | Serta Simmons Bedding LLC                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       31013 | NS      | $325636.50    | 0.14%             |  |  |  | No            |                  3 | On Loan: No      |
| 1261229 BC Ltd.                                 | 1261229 BC Ltd., 1st Lien Term Loan                                      | CUSIP: C6903HAB0<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |      925000 | PA      | $876567.00    | 0.39%             | 2030-10-08      | Variable      | 10.59%                | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                | CSC Holdings LLC, 1st Lien Term Loan                                     | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |     1370805 | PA      | $1351956.72   | 0.60%             | 2028-01-18      | Variable      | 8.83%                 | No            |                  2 | On Loan: No      |
| Chariot Buyer LLC                               | Chariot Buyer LLC, 1st Lien Term Loan                                    | CUSIP: 15963CAC0<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |     1109828 | PA      | $1104656.42   | 0.49%             | 2028-11-03      | Variable      | 7.68%                 | No            |                  2 | On Loan: No      |
| Genesys Cloud Services, Inc.                    | Genesys Cloud Services, Inc., 1st Lien Term Loan                         | CUSIP: 39479UAY9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     2405328 | PA      | $2396741.45   | 1.07%             | 2032-01-30      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| Owens & Minor, Inc.                             | Owens & Minor, Inc., 1st Lien Term Loan B                                | CUSIP: 69073LAF7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      465000 | PA      | $461512.50    | 0.21%             | 2030-04-02      | Variable      | 9.38%                 | No            |                  2 | On Loan: No      |
| Topgolf Callaway Brands Corp.                   | Topgolf Callaway Brands Corp., 1st Lien Term Loan                        | CUSIP: 89071LAB6<br>LEI: 5493005UB0KFRKBPCU72 | Long             | LON              | CORP              | US        |      847787 | PA      | $826380.12    | 0.37%             | 2030-03-18      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| BCPE Pequod Buyer, Inc.                         | BCPE Pequod Buyer, Inc., 1st Lien Term Loan                              | CUSIP: 05624AAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1532000 | PA      | $1535064.00   | 0.68%             | 2031-11-25      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| Option Care Health, Inc.                        | Option Care Health, Inc., 1st Lien Term Loan B                           | CUSIP: 68404YAB0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | LON              | CORP              | US        |     1367789 | PA      | $1373779.54   | 0.61%             | 2028-10-27      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| MIWD Holdco II LLC                              | MIWD Holdco II LLC, 1st Lien Term Loan                                   | CUSIP: 55336CAK8<br>LEI: 254900X3SPV5RVFJEY72 | Long             | LON              | CORP              | US        |     1266341 | PA      | $1262579.61   | 0.56%             | 2031-03-28      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| Trident TPI Holdings, Inc.                      | Trident TPI Holdings, Inc., 1st Lien Term Loan B-7                       | CUSIP: 00216EAL3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      810785 | PA      | $783323.90    | 0.35%             | 2028-09-15      | Variable      | 8.05%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                     | Caesars Entertainment, Inc., 1st Lien Term Loan B                        | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |      612961 | PA      | $610852.39    | 0.27%             | 2030-02-06      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| INEOS Quattro Finance 2 plc                     | INEOS Quattro Finance 2 plc                                              | CUSIP: 45674GAB0<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |      250000 | PA      | $248755.00    | 0.11%             | 2029-03-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| NuStar Logistics LP                             | NuStar Logistics LP                                                      | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |     1000000 | PA      | $1002489.00   | 0.45%             | 2027-04-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.          | Mauser Packaging Solutions Holding Co., 1st Lien Term Loan               | CUSIP: 57763TAE3<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |     1561759 | PA      | $1551514.30   | 0.69%             | 2027-04-15      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Skopima Consilio Parent LLC                     | Skopima Consilio Parent LLC, 1st Lien Term Loan                          | CUSIP: 36171NAG1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1184211 | PA      | $1178076.36   | 0.52%             | 2028-05-12      | Variable      | 8.08%                 | No            |                  2 | On Loan: No      |
| Creative Artists Agency LLC                     | Creative Artists Agency LLC, 1st Lien Term Loan B                        | CUSIP: 22526WAS7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1355136 | PA      | $1354296.11   | 0.60%             | 2031-10-01      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                        | Lumen Technologies, Inc., 1st Lien Term Loan B-1                         | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |      532946 | PA      | $527248.52    | 0.23%             | 2029-04-16      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| APi Group DE, Inc.                              | APi Group DE, Inc., 1st Lien Term Loan                                   | CUSIP: 00186XAN3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      905065 | PA      | $905752.88    | 0.40%             | 2029-01-03      | Variable      | 6.08%                 | No            |                  2 | On Loan: No      |
| Orion Advisor Solutions, Inc.                   | Orion Advisor Solutions, Inc., 1st Lien Term Loan                        | CUSIP: 68627BAJ4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1133920 | PA      | $1137469.17   | 0.51%             | 2030-09-24      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| UFC Holdings LLC                                | UFC Holdings LLC, 1st Lien Term Loan B-4                                 | CUSIP: 90266UAK9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      927675 | PA      | $929641.67    | 0.41%             | 2031-11-21      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| Terex Corp.                                     | Terex Corp., 1st Lien Term Loan                                          | CUSIP: 88078FBM9<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | LON              | CORP              | US        |     1350000 | PA      | $1350567.00   | 0.60%             | 2031-10-08      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| KDC/ONE Development Corp., Inc.                 | KDC/ONE Development Corp., Inc., 1st Lien Term Loan                      | CUSIP: C4879HAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1172369 | PA      | $1171396.06   | 0.52%             | 2028-08-15      | Variable      | 8.33%                 | No            |                  2 | On Loan: No      |
| Resonetics LLC                                  | Resonetics LLC, 1st Lien Term Loan                                       | CUSIP: 76118EAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      685050 | PA      | $683337.38    | 0.30%             | 2031-06-18      | Variable      | 7.55%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                             | Station Casinos LLC, 1st Lien Term Loan B                                | CUSIP: 85769EBB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      825000 | PA      | $824628.75    | 0.37%             | 2031-03-14      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| Constellation Renewables LLC                    | Constellation Renewables LLC, 1st Lien Term Loan                         | CUSIP: 30204KAD8<br>LEI: 5493004JBPWTPTK8LB51 | Long             | LON              | CORP              | US        |     1365844 | PA      | $1363918.59   | 0.61%             | 2027-12-15      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| Star Parent, Inc.                               | Star Parent, Inc., 1st Lien Term Loan                                    | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |     1207750 | PA      | $1186010.50   | 0.53%             | 2030-09-27      | Variable      | 8.30%                 | No            |                  2 | On Loan: No      |
| Ensemble RCM LLC                                | Ensemble RCM LLC, 1st Lien Term Loan B                                   | CUSIP: 29359BAE1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      778054 | PA      | $779073.70    | 0.35%             | 2029-08-01      | Variable      | 7.28%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                         | Quikrete Holdings, Inc., 1st Lien Term Loan B-2                          | CUSIP: 74839XAK5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1212407 | PA      | $1210636.86   | 0.54%             | 2029-03-19      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| Ring Container Technologies Group LLC           | Ring Container Technologies Group LLC, 1st Lien Term Loan                | CUSIP: 76680YAH5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      804526 | PA      | $804775.77    | 0.36%             | 2028-08-14      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| WEC US Holdings, Inc.                           | WEC US Holdings, Inc., 1st Lien Term Loan                                | CUSIP: 92943LAC4<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |     1517710 | PA      | $1514143.36   | 0.67%             | 2031-01-27      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| Phoenix Newco, Inc.                             | Phoenix Newco, Inc., 1st Lien Term Loan                                  | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |     1159598 | PA      | $1159330.82   | 0.52%             | 2028-11-15      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                             | Altice Financing SA, 1st Lien Term Loan                                  | CUSIP: L0178UAM8<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |      998801 | PA      | $827756.43    | 0.37%             | 2027-10-29      | Variable      | 9.26%                 | No            |                  2 | On Loan: No      |
| Jetblue Airways Corp.                           | Jetblue Airways Corp., 1st Lien Term Loan                                | CUSIP: G5112TAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1420350 | PA      | $1379514.93   | 0.61%             | 2029-08-13      | Variable      | 9.05%                 | No            |                  2 | On Loan: No      |
| Graham Packaging Co., Inc.                      | Graham Packaging Co., Inc., 1st Lien Term Loan                           | CUSIP: 38469EAE3<br>LEI: 549300YS0ZFT826HIK72 | Long             | LON              | CORP              | US        |     1191392 | PA      | $1191070.07   | 0.53%             | 2027-08-04      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                    | MH Sub I LLC, 1st Lien Term Loan                                         | CUSIP: 45567YAP0<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |      548265 | PA      | $498510.16    | 0.22%             | 2031-12-31      | Variable      | 8.58%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition LLC                      | Camelot US Acquisition LLC, 1st Lien Term Loan B                         | CUSIP: L2000AAF7<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |      565044 | PA      | $556743.16    | 0.25%             | 2031-01-31      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Hertz Corp. (The)                               | Hertz Corp. (The), 1st Lien Term Loan B                                  | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |     1226893 | PA      | $1012959.93   | 0.45%             | 2028-06-30      | Variable      | 7.94%                 | No            |                  2 | On Loan: No      |
| Central Parent LLC                              | Central Parent LLC, 1st Lien Term Loan                                   | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1539750 | PA      | $1367898.50   | 0.61%             | 2029-07-06      | Variable      | 7.55%                 | No            |                  2 | On Loan: No      |
| Invesco Senior Loan ETF                         | Invesco Senior Loan ETF                                                  | CUSIP: 46138G508<br>LEI: 549300SIHU6DQELRNG59 | Long             |  | RF                | US        |      231000 | NS      | $4818660.00   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                             | CDI                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |     4000000 | PA      | $198553.82    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services, Inc.       | Sedgwick Claims Management Services, Inc., 1st Lien Term Loan            | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |     1140500 | PA      | $1141286.95   | 0.51%             | 2031-07-31      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| FGI Operating Co. LLC                           | FGI Operating Co. LLC, 1st Lien Term Loan                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     3333586 | PA      | $33335.86     | 0.01%             | 2025-12-31      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Nielsen Consumer LLC                            | Nielsen Consumer LLC, 1st Lien Term Loan                                 | CUSIP: 45674PAR5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      987447 | PA      | $984564.13    | 0.44%             | 2028-03-06      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| First Advantage Holdings LLC                    | First Advantage Holdings LLC, 1st Lien Term Loan B-2                     | CUSIP: 78477MAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1540791 | PA      | $1538865.25   | 0.68%             | 2031-10-31      | Variable      | 7.58%                 | No            |                  2 | On Loan: No      |
| Neon Maple US Debt Mergersub, Inc.              | Neon Maple US Debt Mergersub, Inc., 1st Lien Term Loan B-1               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     1168333 | PA      | $1165984.99   | 0.52%             | 2031-11-17      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Co., Inc.                          | Boxer Parent Co., Inc., 1st Lien Term Loan                               | CUSIP: 05988HAQ0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1385000 | PA      | $1374390.90   | 0.61%             | 2031-07-30      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| PRA Health Sciences, Inc.                       | PRA Health Sciences, Inc., 1st Lien Term Loan B                          | CUSIP: L5000DAF4<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | US        |       56759 | PA      | $56914.78     | 0.03%             | 2028-07-03      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| Recess Holdings, Inc.                           | Recess Holdings, Inc., 1st Lien Term Loan                                | CUSIP: 72811HAJ9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      441616 | PA      | $441284.54    | 0.20%             | 2030-02-21      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| Novelis, Inc.                                   | Novelis, Inc., 1st Lien Term Loan                                        | CUSIP: 67000LAB8<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |      815000 | PA      | $816695.20    | 0.36%             | 2032-03-11      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| Moran Foods Backstop Equity                     | Moran Foods Backstop Equity                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        | 22629369062 | NS      | $22629.37     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Quikrete Holdings, Inc.                         | Quikrete Holdings, Inc., 1st Lien Term Loan B-3                          | CUSIP: 74839XAL3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      557500 | PA      | $554712.50    | 0.25%             | 2032-02-10      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| MED ParentCo LP                                 | MED ParentCo LP, 1st Lien Term Loan                                      | CUSIP: 58401DAM6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1200938 | PA      | $1203472.19   | 0.54%             | 2031-04-15      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| Conair Holdings LLC                             | Conair Holdings LLC, 1st Lien Term Loan B                                | CUSIP: 20600RAB8<br>LEI: 549300804G00T34FLV17 | Long             | LON              | CORP              | US        |     1295124 | PA      | $909824.66    | 0.40%             | 2028-05-17      | Variable      | 8.19%                 | No            |                  2 | On Loan: No      |
| Pre-Paid Legal Services, Inc.                   | Pre-Paid Legal Services, Inc., 1st Lien Term Loan                        | CUSIP: 74006LAS1<br>LEI: 549300DKH5WJ2J8QU878 | Long             | LON              | CORP              | US        |     1175255 | PA      | $1168826.45   | 0.52%             | 2028-12-07      | Variable      | 7.58%                 | No            |                  2 | On Loan: No      |
| Thoughtworks, Inc.                              | Thoughtworks, Inc., 1st Lien Term Loan B                                 | CUSIP: 90010LAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      415857 | PA      | $411074.49    | 0.18%             | 2028-03-24      | Variable      | 6.94%                 | No            |                  2 | On Loan: No      |
| NGL Energy Operating LLC                        | NGL Energy Operating LLC, 1st Lien Term Loan                             | CUSIP: 62922KAF7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1455300 | PA      | $1403840.59   | 0.62%             | 2031-02-03      | Variable      | 8.08%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                     | Asurion LLC, 1st Lien Term Loan B-11                                     | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     1289232 | PA      | $1284397.65   | 0.57%             | 2028-08-21      | Variable      | 8.68%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                  | Carnival Corp., 1st Lien Term Loan                                       | CUSIP: P2121YAX6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | LON              | CORP              | US        |     1569414 | PA      | $1567938.54   | 0.70%             | 2027-08-09      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                    | MH Sub I LLC, 1st Lien Term Loan                                         | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |      681730 | PA      | $653928.78    | 0.29%             | 2028-05-03      | Variable      | 8.57%                 | No            |                  2 | On Loan: No      |
| Claire's Stores, Inc.                           | Claire's Stores, Inc.                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        3699 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Bausch + Lomb Corp.                             | Bausch + Lomb Corp., 1st Lien Term Loan                                  | CUSIP: C0787FAB8<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |     1286768 | PA      | $1282084.61   | 0.57%             | 2027-05-10      | Variable      | 7.68%                 | No            |                  2 | On Loan: No      |
| Vertex Aerospace Services Corp.                 | Vertex Aerospace Services Corp., 1st Lien Term Loan                      | CUSIP: 92532MAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      571098 | PA      | $568779.52    | 0.25%             | 2030-12-06      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                          | Tenet Healthcare Corp.                                                   | CUSIP: 88033GDH0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      500000 | PA      | $490288.53    | 0.22%             | 2028-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Jazz Financing Lux SARL                         | Jazz Financing Lux SARL, 1st Lien Term Loan B-2                          | CUSIP: G5080AAJ1<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |      689278 | PA      | $688630.45    | 0.31%             | 2028-05-05      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| UKG, Inc.                                       | UKG, Inc., 1st Lien Term Loan                                            | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |     1835206 | PA      | $1838141.94   | 0.82%             | 2031-02-10      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC            | Charter Communications Operating LLC, 1st Lien Term Loan B-5             | CUSIP: 16117LCE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      496250 | PA      | $495818.26    | 0.22%             | 2031-12-15      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| Civitas Resources, Inc.                         | Civitas Resources, Inc.                                                  | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     1250000 | PA      | $1259381.25   | 0.56%             | 2028-07-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                       | Ford Motor Credit Co. LLC                                                | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |      500000 | PA      | $482363.05    | 0.21%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Harvest Midstream I LP                          | Harvest Midstream I LP                                                   | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |      550000 | PA      | $558469.45    | 0.25%             | 2028-09-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** JPMorgan Trust I

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer