# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0002071691-26-007421
**Filing Date:** 2026-3
**Character Count:** 1826867
**Document Hash:** 77d888fd04c91dc502350de6d78e4655
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-007421.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0002071691-26-007421

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20261031

**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:** 26805569

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

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

**JPMorgan Income Builder Fund**

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

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED MUTUAL FUNDS HOLDINGS" LIST ("the <br> List") IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS <br> NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR <br> SALES LITERATURE WITH THE GENERAL PUBLIC. The list is <br> submitted for the general information of the shareholders of the Fund. <br> It is not authorized for distribution to prospective investors in the Fund <br> unless preceded or accompanied by a prospectus. The list has been <br> created from the books and records of the Fund. Holdings are <br> available 60 days after the fund's fiscal quarter, using a trade date <br> accounting convention, by contacting the appropriate service center. <br> The list is subject to change without notice. The list is for <br> informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2026. |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE** <br>**($000)**<br>|
| **Common Stocks — 32.3%** | **Common Stocks — 32.3%** | **Common Stocks — 32.3%** |
| **Australia — 0.4%** | **Australia — 0.4%** | **Australia — 0.4%** |
| &nbsp;&nbsp;&nbsp; AGL Energy Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 324 | &nbsp;&nbsp;&nbsp;&nbsp; 2037 |
| &nbsp;&nbsp;&nbsp; Atlas Arteria Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp; 556 |
| &nbsp;&nbsp;&nbsp; Bendigo & Adelaide Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp; 749 |
| &nbsp;&nbsp;&nbsp; BHP Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 1230 |
| &nbsp;&nbsp;&nbsp; Dexus, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp; Endeavour Group Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp;&nbsp;&nbsp; 429 |
| &nbsp;&nbsp;&nbsp; Fortescue Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 483 |
| &nbsp;&nbsp;&nbsp; Glencore plc | &nbsp;&nbsp;&nbsp;&nbsp; 502 | &nbsp;&nbsp;&nbsp;&nbsp; 3423 |
| &nbsp;&nbsp;&nbsp; Insignia Financial Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp; 442 |
| &nbsp;&nbsp;&nbsp; JB Hi-Fi Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp; Magellan Financial Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp; Metcash Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 329 | &nbsp;&nbsp;&nbsp;&nbsp; 759 |
| &nbsp;&nbsp;&nbsp; New Hope Corp. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 501 |
| &nbsp;&nbsp;&nbsp; Origin Energy Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp; Region Group, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; Rio Tinto Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp; 11337 |
| &nbsp;&nbsp;&nbsp; Rio Tinto plc | &nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; 10260 |
| &nbsp;&nbsp;&nbsp; Sonic Healthcare Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp; 1565 |
| &nbsp;&nbsp;&nbsp; Treasury Wine Estates Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp; Woodside Energy Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 1196 |
| &nbsp;&nbsp;&nbsp; Woolworths Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp; 1612 |
| &nbsp;&nbsp;&nbsp; Yancoal Australia Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp; 313 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 38304 |
| **Austria — 0.1%** | **Austria — 0.1%** | **Austria — 0.1%** |
| &nbsp;&nbsp;&nbsp; ANDRITZ AG | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 1510 |
| &nbsp;&nbsp;&nbsp; BAWAG Group AG (b) | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 1534 |
| &nbsp;&nbsp;&nbsp; Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 2838 |
| &nbsp;&nbsp;&nbsp; OMV AG | &nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp; 3597 |
| &nbsp;&nbsp;&nbsp; Raiffeisen Bank International AG | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 1311 |
| &nbsp;&nbsp;&nbsp; Strabag SE | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 784 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11574 |
| **Belgium — 0.1%** | **Belgium — 0.1%** | **Belgium — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ageas SA | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 1730 |
| &nbsp;&nbsp;&nbsp; KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 1747 |
| &nbsp;&nbsp;&nbsp; Proximus SADP | &nbsp;&nbsp;&nbsp;&nbsp; 209 | &nbsp;&nbsp;&nbsp;&nbsp; 1911 |
| &nbsp;&nbsp;&nbsp; Umicore SA | &nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp; 1969 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7357 |
| **Brazil — 0.4%** | **Brazil — 0.4%** | **Brazil — 0.4%** |
| &nbsp;&nbsp;&nbsp; Axia Energia | &nbsp;&nbsp;&nbsp;&nbsp; 393 | &nbsp;&nbsp;&nbsp;&nbsp; 4050 |
| &nbsp;&nbsp;&nbsp; Axia Energia (Preference) \* | &nbsp;&nbsp;&nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp;&nbsp; 1040 |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp;&nbsp;&nbsp; 1380 | &nbsp;&nbsp;&nbsp;&nbsp; 4244 |
| &nbsp;&nbsp;&nbsp; Banco do Brasil SA | &nbsp;&nbsp;&nbsp;&nbsp; 506 | &nbsp;&nbsp;&nbsp;&nbsp; 2416 |
| &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA (Preference) | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 5155 |
| &nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA (Preference) | &nbsp;&nbsp;&nbsp;&nbsp; 937 | &nbsp;&nbsp;&nbsp;&nbsp; 6705 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Brazil — continued** | **Brazil — continued** | **Brazil — continued** |
| &nbsp;&nbsp;&nbsp; TIM SA | &nbsp;&nbsp;&nbsp;&nbsp; 1018 | &nbsp;&nbsp;&nbsp;&nbsp; 4730 |
| &nbsp;&nbsp;&nbsp; Vale SA | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 6398 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 34738 |
| **Canada — 0.9%** | **Canada — 0.9%** | **Canada — 0.9%** |
| &nbsp;&nbsp;&nbsp; Agnico Eagle Mines Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 1405 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 4737 |
| &nbsp;&nbsp;&nbsp; Barrick Mining Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp; 4902 |
| &nbsp;&nbsp;&nbsp; BCE, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp; 4366 |
| &nbsp;&nbsp;&nbsp; Canadian Natural Resources Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp; 4517 |
| &nbsp;&nbsp;&nbsp; Canadian Tire Corp. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 1923 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 92 | &nbsp;&nbsp;&nbsp;&nbsp; 4497 |
| &nbsp;&nbsp;&nbsp; Fortis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; 4642 |
| &nbsp;&nbsp;&nbsp; Great-West Lifeco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp; 3940 |
| &nbsp;&nbsp;&nbsp; Hydro One Ltd. (b) | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 423 |
| &nbsp;&nbsp;&nbsp; Keyera Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 1185 |
| &nbsp;&nbsp;&nbsp; Magna International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp; 4475 |
| &nbsp;&nbsp;&nbsp; Nutrien Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp; 5206 |
| &nbsp;&nbsp;&nbsp; Pembina Pipeline Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp; 4370 |
| &nbsp;&nbsp;&nbsp; Power Corp. of Canada | &nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp; 2834 |
| &nbsp;&nbsp;&nbsp; Restaurant Brands International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 4125 |
| &nbsp;&nbsp;&nbsp; Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp; 5497 |
| &nbsp;&nbsp;&nbsp; TC Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; 5496 |
| &nbsp;&nbsp;&nbsp; TELUS Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 303 | &nbsp;&nbsp;&nbsp;&nbsp; 4234 |
| &nbsp;&nbsp;&nbsp; Tourmaline Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp; 4220 |
| &nbsp;&nbsp;&nbsp; Whitecap Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp;&nbsp; 1870 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 78975 |
| **Chile — 0.0%** | **Chile — 0.0%** | **Chile — 0.0%** |
| &nbsp;&nbsp;&nbsp; Banco Santander Chile, ADR | &nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp; 1974 |
| **China — 1.3%** | **China — 1.3%** | **China — 1.3%** |
| &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 316 | &nbsp;&nbsp;&nbsp;&nbsp; 6717 |
| &nbsp;&nbsp;&nbsp; ANTA Sports Products Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 286 | &nbsp;&nbsp;&nbsp;&nbsp; 2857 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp;&nbsp;&nbsp; 903 | &nbsp;&nbsp;&nbsp;&nbsp; 5517 |
| &nbsp;&nbsp;&nbsp; China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp;&nbsp;&nbsp; 4418 | &nbsp;&nbsp;&nbsp;&nbsp; 3040 |
| &nbsp;&nbsp;&nbsp; China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 625 | &nbsp;&nbsp;&nbsp;&nbsp; 2366 |
| &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp; 5102 |
| &nbsp;&nbsp;&nbsp; ENN Energy Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp;&nbsp;&nbsp; 1531 |
| &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp; 1425 |
| &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd., Class H (b) | &nbsp;&nbsp;&nbsp;&nbsp; 589 | &nbsp;&nbsp;&nbsp;&nbsp; 5051 |
| &nbsp;&nbsp;&nbsp; H World Group Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; 6113 |
| &nbsp;&nbsp;&nbsp; Haidilao International Holding Ltd. (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1164 | &nbsp;&nbsp;&nbsp;&nbsp; 2374 |
| &nbsp;&nbsp;&nbsp; Haier Smart Home Co. Ltd., Class H | &nbsp;&nbsp;&nbsp;&nbsp; 1675 | &nbsp;&nbsp;&nbsp;&nbsp; 5523 |
| &nbsp;&nbsp;&nbsp; Inner Mongolia Yili Industrial Group Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 1114 | &nbsp;&nbsp;&nbsp;&nbsp; 4214 |
| &nbsp;&nbsp;&nbsp; Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 2999 |
| &nbsp;&nbsp;&nbsp; Lenovo Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 656 | &nbsp;&nbsp;&nbsp;&nbsp; 739 |
| &nbsp;&nbsp;&nbsp; Midea Group Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 438 | &nbsp;&nbsp;&nbsp;&nbsp; 4885 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **China — continued** | **China — continued** | **China — continued** |
| &nbsp;&nbsp;&nbsp; NetEase, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 375 | &nbsp;&nbsp;&nbsp;&nbsp; 9721 |
| &nbsp;&nbsp;&nbsp; PetroChina Co. Ltd., Class H | &nbsp;&nbsp;&nbsp;&nbsp; 6358 | &nbsp;&nbsp;&nbsp;&nbsp; 7553 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp;&nbsp;&nbsp; 925 | &nbsp;&nbsp;&nbsp;&nbsp; 8578 |
| &nbsp;&nbsp;&nbsp; Shenzhou International Group Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 808 | &nbsp;&nbsp;&nbsp;&nbsp; 6430 |
| &nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 231 | &nbsp;&nbsp;&nbsp;&nbsp; 17736 |
| &nbsp;&nbsp;&nbsp; Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1218 | &nbsp;&nbsp;&nbsp;&nbsp; 1846 |
| &nbsp;&nbsp;&nbsp; Wilmar International Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp; 452 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 112769 |
| **Denmark — 0.3%** | **Denmark — 0.3%** | **Denmark — 0.3%** |
| &nbsp;&nbsp;&nbsp; AL Sydbank | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 1383 |
| &nbsp;&nbsp;&nbsp; Carlsberg A/S, Class B (a) | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 1842 |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S | &nbsp;&nbsp;&nbsp;&nbsp; 314 | &nbsp;&nbsp;&nbsp;&nbsp; 16021 |
| &nbsp;&nbsp;&nbsp; Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 2016 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 21262 |
| **Finland — 0.4%** | **Finland — 0.4%** | **Finland — 0.4%** |
| &nbsp;&nbsp;&nbsp; Fortum OYJ | &nbsp;&nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp;&nbsp;&nbsp; 2846 |
| &nbsp;&nbsp;&nbsp; Kemira OYJ | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 1600 |
| &nbsp;&nbsp;&nbsp; Kone OYJ, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 2918 |
| &nbsp;&nbsp;&nbsp; Konecranes OYJ | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 2442 |
| &nbsp;&nbsp;&nbsp; Mandatum OYJ | &nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp; 1102 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp | &nbsp;&nbsp;&nbsp;&nbsp; 757 | &nbsp;&nbsp;&nbsp;&nbsp; 14620 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp | &nbsp;&nbsp;&nbsp;&nbsp; 247 | &nbsp;&nbsp;&nbsp;&nbsp; 4770 |
| &nbsp;&nbsp;&nbsp; Orion OYJ, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 1419 |
| &nbsp;&nbsp;&nbsp; TietoEVRY OYJ | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 959 |
| &nbsp;&nbsp;&nbsp; UPM-Kymmene OYJ | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 727 |
| &nbsp;&nbsp;&nbsp; Valmet OYJ | &nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp; 1791 |
| &nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | &nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 1676 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 36870 |
| **France — 1.5%** | **France — 1.5%** | **France — 1.5%** |
| &nbsp;&nbsp;&nbsp; Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 2337 |
| &nbsp;&nbsp;&nbsp; Altice France SA ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Amundi SA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 1324 |
| &nbsp;&nbsp;&nbsp; Arkema SA | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 1223 |
| &nbsp;&nbsp;&nbsp; AXA SA | &nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp; 3769 |
| &nbsp;&nbsp;&nbsp; Ayvens SA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; 1869 |
| &nbsp;&nbsp;&nbsp; Bouygues SA | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 753 |
| &nbsp;&nbsp;&nbsp; Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp; 10117 |
| &nbsp;&nbsp;&nbsp; Carrefour SA | &nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp; 2100 |
| &nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp; 1809 |
| &nbsp;&nbsp;&nbsp; Covivio SA, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 1749 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 759 |
| &nbsp;&nbsp;&nbsp; Danone SA | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 3413 |
| &nbsp;&nbsp;&nbsp; Eiffage SA | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 1819 |
| &nbsp;&nbsp;&nbsp; Engie SA | &nbsp;&nbsp;&nbsp;&nbsp; 890 | &nbsp;&nbsp;&nbsp;&nbsp; 26574 |
| &nbsp;&nbsp;&nbsp; Gaztransport Et Technigaz SA | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 1947 |
| &nbsp;&nbsp;&nbsp; Klepierre SA, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp;&nbsp; 5352 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **France — continued** | **France — continued** | **France — continued** |
| &nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 3243 |
| &nbsp;&nbsp;&nbsp; Orange SA | &nbsp;&nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp;&nbsp;&nbsp; 4370 |
| &nbsp;&nbsp;&nbsp; Pernod Ricard SA | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 1558 |
| &nbsp;&nbsp;&nbsp; Rubis SCA | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 2030 |
| &nbsp;&nbsp;&nbsp; Safran SA | &nbsp;&nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp;&nbsp; 30291 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 2035 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; 6305 |
| &nbsp;&nbsp;&nbsp; Unibail-Rodamco-Westfield, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 1704 |
| &nbsp;&nbsp;&nbsp; Vallourec SACA | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 1307 |
| &nbsp;&nbsp;&nbsp; Veolia Environnement SA | &nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 2230 |
| &nbsp;&nbsp;&nbsp; Vinci SA | &nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp; 9923 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 131965 |
| **Germany — 1.1%** | **Germany — 1.1%** | **Germany — 1.1%** |
| &nbsp;&nbsp;&nbsp; Allianz SE (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 19334 |
| &nbsp;&nbsp;&nbsp; BASF SE | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 1755 |
| &nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 963 |
| &nbsp;&nbsp;&nbsp; Bilfinger SE | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 2322 |
| &nbsp;&nbsp;&nbsp; Commerzbank AG | &nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp; 2429 |
| &nbsp;&nbsp;&nbsp; Continental AG | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 2126 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; 5174 |
| &nbsp;&nbsp;&nbsp; DWS Group GmbH & Co. KGaA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 989 |
| &nbsp;&nbsp;&nbsp; E.ON SE | &nbsp;&nbsp;&nbsp;&nbsp; 508 | &nbsp;&nbsp;&nbsp;&nbsp; 10769 |
| &nbsp;&nbsp;&nbsp; Evonik Industries AG | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp; Freenet AG | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 1949 |
| &nbsp;&nbsp;&nbsp; HOCHTIEF AG (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 1624 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Group AG | &nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; 4521 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 23382 |
| &nbsp;&nbsp;&nbsp; RWE AG | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 3155 |
| &nbsp;&nbsp;&nbsp; Siemens AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 11404 |
| &nbsp;&nbsp;&nbsp; Vonovia SE | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 1218 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 93389 |
| **Greece — 0.1%** | **Greece — 0.1%** | **Greece — 0.1%** |
| &nbsp;&nbsp;&nbsp; National Bank of Greece SA | &nbsp;&nbsp;&nbsp;&nbsp; 487 | &nbsp;&nbsp;&nbsp;&nbsp; 8597 |
| **Guatemala — 0.0%** | **Guatemala — 0.0%** | **Guatemala — 0.0%** |
| &nbsp;&nbsp;&nbsp; Millicom International Cellular SA | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 2572 |
| **Hong Kong — 0.3%** | **Hong Kong — 0.3%** | **Hong Kong — 0.3%** |
| &nbsp;&nbsp;&nbsp; Cathay Pacific Airways Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp; Hang Lung Properties Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 913 | &nbsp;&nbsp;&nbsp;&nbsp; 1102 |
| &nbsp;&nbsp;&nbsp; Henderson Land Development Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp;&nbsp;&nbsp; 394 |
| &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp; 10034 |
| &nbsp;&nbsp;&nbsp; Hysan Development Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp; Link, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp; Man Wah Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp; Orient Overseas International Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp; 1565 |
| &nbsp;&nbsp;&nbsp; PCCW Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 401 | &nbsp;&nbsp;&nbsp;&nbsp; 300 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Hong Kong — continued** | **Hong Kong — continued** | **Hong Kong — continued** |
| &nbsp;&nbsp;&nbsp; Power Assets Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp;&nbsp;&nbsp; 2207 |
| &nbsp;&nbsp;&nbsp; Prudential plc | &nbsp;&nbsp;&nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp; 2997 |
| &nbsp;&nbsp;&nbsp; VTech Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp; 563 |
| &nbsp;&nbsp;&nbsp; Yue Yuen Industrial Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 493 | &nbsp;&nbsp;&nbsp;&nbsp; 1099 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 21320 |
| **India — 0.3%** | **India — 0.3%** | **India — 0.3%** |
| &nbsp;&nbsp;&nbsp; Bajaj Auto Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 3296 |
| &nbsp;&nbsp;&nbsp; HDFC Bank Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 983 |
| &nbsp;&nbsp;&nbsp; HDFC Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 801 | &nbsp;&nbsp;&nbsp;&nbsp; 8095 |
| &nbsp;&nbsp;&nbsp; Infosys Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp; Maruti Suzuki India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 1729 |
| &nbsp;&nbsp;&nbsp; Power Grid Corp. of India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 1416 | &nbsp;&nbsp;&nbsp;&nbsp; 3953 |
| &nbsp;&nbsp;&nbsp; Shriram Finance Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp; 2875 |
| &nbsp;&nbsp;&nbsp; Tata Consultancy Services Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 1747 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 23147 |
| **Indonesia — 0.2%** | **Indonesia — 0.2%** | **Indonesia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Bank Central Asia Tbk. PT | &nbsp;&nbsp;&nbsp;&nbsp; 8567 | &nbsp;&nbsp;&nbsp;&nbsp; 3785 |
| &nbsp;&nbsp;&nbsp; Bank Rakyat Indonesia Persero Tbk. PT | &nbsp;&nbsp;&nbsp;&nbsp; 26198 | &nbsp;&nbsp;&nbsp;&nbsp; 5947 |
| &nbsp;&nbsp;&nbsp; Telkom Indonesia Persero Tbk. PT | &nbsp;&nbsp;&nbsp;&nbsp; 35263 | &nbsp;&nbsp;&nbsp;&nbsp; 7538 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17270 |
| **Iraq — 0.0%** | **Iraq — 0.0%** | **Iraq — 0.0%** |
| &nbsp;&nbsp;&nbsp; United Energy Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 3740 | &nbsp;&nbsp;&nbsp;&nbsp; 308 |
| **Ireland — 0.1%** | **Ireland — 0.1%** | **Ireland — 0.1%** |
| &nbsp;&nbsp;&nbsp; AIB Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 2237 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp; 1947 |
| &nbsp;&nbsp;&nbsp; Cairn Homes plc | &nbsp;&nbsp;&nbsp;&nbsp; 637 | &nbsp;&nbsp;&nbsp;&nbsp; 1574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5758 |
| **Israel — 0.0%** | **Israel — 0.0%** | **Israel — 0.0%** |
| &nbsp;&nbsp;&nbsp; Delek Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 876 |
| &nbsp;&nbsp;&nbsp; Plus500 Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 1455 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2331 |
| **Italy — 0.8%** | **Italy — 0.8%** | **Italy — 0.8%** |
| &nbsp;&nbsp;&nbsp; Azimut Holding SpA | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 1366 |
| &nbsp;&nbsp;&nbsp; Banca Generali SpA | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 1452 |
| &nbsp;&nbsp;&nbsp; Banca Mediolanum SpA | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 3748 |
| &nbsp;&nbsp;&nbsp; Banco BPM SpA | &nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp; 1831 |
| &nbsp;&nbsp;&nbsp; BFF Bank SpA \* (b) | &nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp; 894 |
| &nbsp;&nbsp;&nbsp; BPER Banca SpA | &nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp; 2204 |
| &nbsp;&nbsp;&nbsp; Enel SpA | &nbsp;&nbsp;&nbsp;&nbsp; 780 | &nbsp;&nbsp;&nbsp;&nbsp; 8615 |
| &nbsp;&nbsp;&nbsp; Eni SpA | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 5115 |
| &nbsp;&nbsp;&nbsp; FinecoBank Banca Fineco SpA | &nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 1508 |
| &nbsp;&nbsp;&nbsp; Generali | &nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 2460 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp; 1248 | &nbsp;&nbsp;&nbsp;&nbsp; 8833 |
| &nbsp;&nbsp;&nbsp; Maire SpA | &nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp; 2284 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Italy — continued** | **Italy — continued** | **Italy — continued** |
| &nbsp;&nbsp;&nbsp; Poste Italiane SpA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 1803 |
| &nbsp;&nbsp;&nbsp; Ryanair Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp;&nbsp;&nbsp; 11352 |
| &nbsp;&nbsp;&nbsp; Snam SpA | &nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; 1798 |
| &nbsp;&nbsp;&nbsp; Technogym SpA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp;&nbsp; 2342 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 5242 |
| &nbsp;&nbsp;&nbsp; Unipol Assicurazioni SpA | &nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 1587 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 64434 |
| **Ivory Coast — 0.0%** | **Ivory Coast — 0.0%** | **Ivory Coast — 0.0%** |
| &nbsp;&nbsp;&nbsp; Endeavour Mining plc | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 2880 |
| **Japan — 1.3%** | **Japan — 1.3%** | **Japan — 1.3%** |
| &nbsp;&nbsp;&nbsp; Activia Properties, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp; AEON REIT Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp; Aozora Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; 2090 |
| &nbsp;&nbsp;&nbsp; Astellas Pharma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp; Canon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp; 2052 |
| &nbsp;&nbsp;&nbsp; Chubu Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 456 |
| &nbsp;&nbsp;&nbsp; Chugoku Electric Power Co., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp; 876 |
| &nbsp;&nbsp;&nbsp; Cosmo Energy Holdings Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 771 |
| &nbsp;&nbsp;&nbsp; Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 764 |
| &nbsp;&nbsp;&nbsp; Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp; 962 |
| &nbsp;&nbsp;&nbsp; DIC Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp; Electric Power Development Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp;&nbsp;&nbsp; 2096 |
| &nbsp;&nbsp;&nbsp; FANUC Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 1907 |
| &nbsp;&nbsp;&nbsp; Frontier Real Estate Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp; Hitachi Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp; 6093 |
| &nbsp;&nbsp;&nbsp; Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp; 2037 |
| &nbsp;&nbsp;&nbsp; Industrial & Infrastructure Fund Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 583 |
| &nbsp;&nbsp;&nbsp; Inpex Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 993 |
| &nbsp;&nbsp;&nbsp; Invincible Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 291 |
| &nbsp;&nbsp;&nbsp; Isuzu Motors Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp; Itoham Yonekyu Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp; Japan Exchange Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 395 | &nbsp;&nbsp;&nbsp;&nbsp; 4315 |
| &nbsp;&nbsp;&nbsp; Japan Metropolitan Fund Invest, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 2176 |
| &nbsp;&nbsp;&nbsp; Japan Post Holdings Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp; 1072 |
| &nbsp;&nbsp;&nbsp; Japan Tobacco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 1330 |
| &nbsp;&nbsp;&nbsp; JFE Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp; 1423 |
| &nbsp;&nbsp;&nbsp; KDX Realty Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 764 |
| &nbsp;&nbsp;&nbsp; Kirin Holdings Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp; 1298 |
| &nbsp;&nbsp;&nbsp; Kobe Steel Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp; 2031 |
| &nbsp;&nbsp;&nbsp; Kyushu Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 485 |
| &nbsp;&nbsp;&nbsp; Kyushu Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp; 1925 |
| &nbsp;&nbsp;&nbsp; Lixil Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 474 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp;&nbsp;&nbsp; 1153 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 606 | &nbsp;&nbsp;&nbsp;&nbsp; 10973 |
| &nbsp;&nbsp;&nbsp; Mori Hills REIT Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; Nippon Shokubai Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 733 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Japan — continued** | **Japan — continued** | **Japan — continued** |
| &nbsp;&nbsp;&nbsp; Nippon Yusen KK | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp; Niterra Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp; NOK Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp; Nomura Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 819 |
| &nbsp;&nbsp;&nbsp; Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp; Pola Orbis Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp; 463 |
| &nbsp;&nbsp;&nbsp; Sekisui House REIT, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 496 |
| &nbsp;&nbsp;&nbsp; Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; 5058 |
| &nbsp;&nbsp;&nbsp; SoftBank Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1806 | &nbsp;&nbsp;&nbsp;&nbsp; 2455 |
| &nbsp;&nbsp;&nbsp; Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 604 | &nbsp;&nbsp;&nbsp;&nbsp; 13324 |
| &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp; 6160 |
| &nbsp;&nbsp;&nbsp; Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 498 |
| &nbsp;&nbsp;&nbsp; Suzuki Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 514 | &nbsp;&nbsp;&nbsp;&nbsp; 7003 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp;&nbsp; 2900 |
| &nbsp;&nbsp;&nbsp; Tokio Marine Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp;&nbsp; 6403 |
| &nbsp;&nbsp;&nbsp; Toyo Tire Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 776 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 332 | &nbsp;&nbsp;&nbsp;&nbsp; 7530 |
| &nbsp;&nbsp;&nbsp; United Urban Investment Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 1267 |
| &nbsp;&nbsp;&nbsp; Yamaha Motor Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 204 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 110555 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| &nbsp;&nbsp;&nbsp; ArcelorMittal SA | &nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp; 2656 |
| &nbsp;&nbsp;&nbsp; SES SA ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 270 | &nbsp;&nbsp;&nbsp;&nbsp; 3920 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6576 |
| **Mexico — 0.2%** | **Mexico — 0.2%** | **Mexico — 0.2%** |
| &nbsp;&nbsp;&nbsp; Arca Continental SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp; 2491 |
| &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp;&nbsp;&nbsp; 644 | &nbsp;&nbsp;&nbsp;&nbsp; 7258 |
| &nbsp;&nbsp;&nbsp; Southern Copper Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 1602 |
| &nbsp;&nbsp;&nbsp; Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp; 2164 | &nbsp;&nbsp;&nbsp;&nbsp; 6868 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18219 |
| **Netherlands — 1.0%** | **Netherlands — 1.0%** | **Netherlands — 1.0%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV, CVA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 502 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 41222 |
| &nbsp;&nbsp;&nbsp; ASR Nederland NV | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 1785 |
| &nbsp;&nbsp;&nbsp; BE Semiconductor Industries NV | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 2296 |
| &nbsp;&nbsp;&nbsp; ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp;&nbsp;&nbsp; 3755 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp; 2991 |
| &nbsp;&nbsp;&nbsp; Koninklijke BAM Groep NV | &nbsp;&nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp;&nbsp;&nbsp; 2291 |
| &nbsp;&nbsp;&nbsp; Koninklijke Heijmans N.V., CVA | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 2412 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | &nbsp;&nbsp;&nbsp;&nbsp; 2545 | &nbsp;&nbsp;&nbsp;&nbsp; 12467 |
| &nbsp;&nbsp;&nbsp; NN Group NV | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 2151 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 14440 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Netherlands — continued** | **Netherlands — continued** | **Netherlands — continued** |
| &nbsp;&nbsp;&nbsp; Randstad NV | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 509 |
| &nbsp;&nbsp;&nbsp; SBM Offshore NV | &nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp; 2655 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 89476 |
| **New Zealand — 0.0%** | **New Zealand — 0.0%** | **New Zealand — 0.0%** |
| &nbsp;&nbsp;&nbsp; Spark New Zealand Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 442 | &nbsp;&nbsp;&nbsp;&nbsp; 602 |
| **Norway — 0.3%** | **Norway — 0.3%** | **Norway — 0.3%** |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | &nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp; 2465 |
| &nbsp;&nbsp;&nbsp; Aker Solutions ASA | &nbsp;&nbsp;&nbsp;&nbsp; 569 | &nbsp;&nbsp;&nbsp;&nbsp; 2080 |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 1955 |
| &nbsp;&nbsp;&nbsp; DOF Group ASA | &nbsp;&nbsp;&nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp;&nbsp; 1964 |
| &nbsp;&nbsp;&nbsp; Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp; 4063 |
| &nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 1077 |
| &nbsp;&nbsp;&nbsp; Norsk Hydro ASA | &nbsp;&nbsp;&nbsp;&nbsp; 341 | &nbsp;&nbsp;&nbsp;&nbsp; 3027 |
| &nbsp;&nbsp;&nbsp; Orkla ASA | &nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp; 772 |
| &nbsp;&nbsp;&nbsp; Salmar ASA | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 728 |
| &nbsp;&nbsp;&nbsp; Telenor ASA | &nbsp;&nbsp;&nbsp;&nbsp; 337 | &nbsp;&nbsp;&nbsp;&nbsp; 5663 |
| &nbsp;&nbsp;&nbsp; Var Energi ASA | &nbsp;&nbsp;&nbsp;&nbsp; 337 | &nbsp;&nbsp;&nbsp;&nbsp; 1233 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 25027 |
| **Peru — 0.0%** | **Peru — 0.0%** | **Peru — 0.0%** |
| &nbsp;&nbsp;&nbsp; Credicorp Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 |
| **Poland — 0.0%** | **Poland — 0.0%** | **Poland — 0.0%** |
| &nbsp;&nbsp;&nbsp; Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp; 1725 |
| &nbsp;&nbsp;&nbsp; Santander Bank Polska SA | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 395 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2120 |
| **Portugal — 0.0%** | **Portugal — 0.0%** | **Portugal — 0.0%** |
| &nbsp;&nbsp;&nbsp; Banco Comercial Portugues SA, Class R | &nbsp;&nbsp;&nbsp;&nbsp; 1440 | &nbsp;&nbsp;&nbsp;&nbsp; 1558 |
| &nbsp;&nbsp;&nbsp; NOS SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp; 360 | &nbsp;&nbsp;&nbsp;&nbsp; 1874 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3432 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| &nbsp;&nbsp;&nbsp; Moscow Exchange MICEX-RTS PJSC ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 2553 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (c)<br>|
| &nbsp;&nbsp;&nbsp; Severstal PAO, GDR ‡ \* (b) | &nbsp;&nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (c)<br>|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (c)<br>|
| **Saudi Arabia — 0.2%** | **Saudi Arabia — 0.2%** | **Saudi Arabia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Al Rajhi Bank | &nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp; 3254 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co. (b) | &nbsp;&nbsp;&nbsp;&nbsp; 669 | &nbsp;&nbsp;&nbsp;&nbsp; 4598 |
| &nbsp;&nbsp;&nbsp; Saudi National Bank (The) | &nbsp;&nbsp;&nbsp;&nbsp; 545 | &nbsp;&nbsp;&nbsp;&nbsp; 6523 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 14375 |
| **Singapore — 0.3%** | **Singapore — 0.3%** | **Singapore — 0.3%** |
| &nbsp;&nbsp;&nbsp; CapitaLand Ascendas, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 437 | &nbsp;&nbsp;&nbsp;&nbsp; 979 |
| &nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 452 | &nbsp;&nbsp;&nbsp;&nbsp; 21025 |
| &nbsp;&nbsp;&nbsp; Singapore Telecommunications Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 845 | &nbsp;&nbsp;&nbsp;&nbsp; 3049 |
| &nbsp;&nbsp;&nbsp; Venture Corp. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 25818 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **South Africa — 0.2%** | **South Africa — 0.2%** | **South Africa — 0.2%** |
| &nbsp;&nbsp;&nbsp; FirstRand Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 490 | &nbsp;&nbsp;&nbsp;&nbsp; 2797 |
| &nbsp;&nbsp;&nbsp; Gold Fields Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp; 5323 |
| &nbsp;&nbsp;&nbsp; Gold Fields Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp; 7692 |
| &nbsp;&nbsp;&nbsp; Nedbank Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 163 | &nbsp;&nbsp;&nbsp;&nbsp; 2674 |
| &nbsp;&nbsp;&nbsp; Shoprite Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 710 |
| &nbsp;&nbsp;&nbsp; Vodacom Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp;&nbsp;&nbsp; 1797 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20993 |
| **South Korea — 0.8%** | **South Korea — 0.8%** | **South Korea — 0.8%** |
| &nbsp;&nbsp;&nbsp; Cheil Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp; DB Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 2503 |
| &nbsp;&nbsp;&nbsp; Hana Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp; 5768 |
| &nbsp;&nbsp;&nbsp; Hyundai Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 2941 |
| &nbsp;&nbsp;&nbsp; KB Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 1639 |
| &nbsp;&nbsp;&nbsp; Kia Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 7566 |
| &nbsp;&nbsp;&nbsp; KT&G Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 685 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp;&nbsp;&nbsp; 22875 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. (Preference) | &nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp; 12638 |
| &nbsp;&nbsp;&nbsp; Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 5499 |
| &nbsp;&nbsp;&nbsp; Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 5819 |
| &nbsp;&nbsp;&nbsp; Woori Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 441 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 68509 |
| **Spain — 0.5%** | **Spain — 0.5%** | **Spain — 0.5%** |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 2105 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;&nbsp;&nbsp; 254 | &nbsp;&nbsp;&nbsp;&nbsp; 6443 |
| &nbsp;&nbsp;&nbsp; Banco de Sabadell SA | &nbsp;&nbsp;&nbsp;&nbsp; 333 | &nbsp;&nbsp;&nbsp;&nbsp; 1308 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp; 590 | &nbsp;&nbsp;&nbsp;&nbsp; 7535 |
| &nbsp;&nbsp;&nbsp; Bankinter SA | &nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp; 1012 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA | &nbsp;&nbsp;&nbsp;&nbsp; 243 | &nbsp;&nbsp;&nbsp;&nbsp; 3212 |
| &nbsp;&nbsp;&nbsp; Enagas SA | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 454 |
| &nbsp;&nbsp;&nbsp; Endesa SA | &nbsp;&nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp; 6230 |
| &nbsp;&nbsp;&nbsp; Iberdrola SA | &nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp; 2080 |
| &nbsp;&nbsp;&nbsp; Iberdrola SA \* | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp; Logista Integral SA | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 1826 |
| &nbsp;&nbsp;&nbsp; Mapfre SA | &nbsp;&nbsp;&nbsp;&nbsp; 280 | &nbsp;&nbsp;&nbsp;&nbsp; 1280 |
| &nbsp;&nbsp;&nbsp; Naturgy Energy Group SA | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 1605 |
| &nbsp;&nbsp;&nbsp; Repsol SA | &nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp; 2168 |
| &nbsp;&nbsp;&nbsp; Unicaja Banco SA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 359 | &nbsp;&nbsp;&nbsp;&nbsp; 1229 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 38516 |
| **Sweden — 0.6%** | **Sweden — 0.6%** | **Sweden — 0.6%** |
| &nbsp;&nbsp;&nbsp; Betsson AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 1140 |
| &nbsp;&nbsp;&nbsp; Loomis AB | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 1644 |
| &nbsp;&nbsp;&nbsp; NCC AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp; 2074 |
| &nbsp;&nbsp;&nbsp; SKF AB, Class B (a) | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 628 |
| &nbsp;&nbsp;&nbsp; SSAB AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 270 | &nbsp;&nbsp;&nbsp;&nbsp; 2220 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp; 2128 |
| &nbsp;&nbsp;&nbsp; Swedbank AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 2129 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Sweden — continued** | **Sweden — continued** | **Sweden — continued** |
| &nbsp;&nbsp;&nbsp; Tele2 AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 367 | &nbsp;&nbsp;&nbsp;&nbsp; 6757 |
| &nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 227 | &nbsp;&nbsp;&nbsp;&nbsp; 2460 |
| &nbsp;&nbsp;&nbsp; Telia Co. AB | &nbsp;&nbsp;&nbsp;&nbsp; 549 | &nbsp;&nbsp;&nbsp;&nbsp; 2506 |
| &nbsp;&nbsp;&nbsp; Volvo AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 801 | &nbsp;&nbsp;&nbsp;&nbsp; 29097 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 52783 |
| **Switzerland — 0.2%** | **Switzerland — 0.2%** | **Switzerland — 0.2%** |
| &nbsp;&nbsp;&nbsp; ABB Ltd. (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 5483 |
| &nbsp;&nbsp;&nbsp; Adecco Group AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 694 |
| &nbsp;&nbsp;&nbsp; Partners Group Holding AG | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 2544 |
| &nbsp;&nbsp;&nbsp; Temenos AG (Registered) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 782 |
| &nbsp;&nbsp;&nbsp; UBS Group AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp; 4936 |
| &nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 3485 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17924 |
| **Taiwan — 1.5%** | **Taiwan — 1.5%** | **Taiwan — 1.5%** |
| &nbsp;&nbsp;&nbsp; ASE Technology Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 895 | &nbsp;&nbsp;&nbsp;&nbsp; 8317 |
| &nbsp;&nbsp;&nbsp; MediaTek, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp; 6068 |
| &nbsp;&nbsp;&nbsp; Quanta Computer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp; 7747 |
| &nbsp;&nbsp;&nbsp; Realtek Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 382 | &nbsp;&nbsp;&nbsp;&nbsp; 5844 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 1747 | &nbsp;&nbsp;&nbsp;&nbsp; 96634 |
| &nbsp;&nbsp;&nbsp; Vanguard International Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 601 | &nbsp;&nbsp;&nbsp;&nbsp; 2724 |
| &nbsp;&nbsp;&nbsp; Wistron Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 663 | &nbsp;&nbsp;&nbsp;&nbsp; 2713 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 130047 |
| **Thailand — 0.1%** | **Thailand — 0.1%** | **Thailand — 0.1%** |
| &nbsp;&nbsp;&nbsp; SCB X PCL | &nbsp;&nbsp;&nbsp;&nbsp; 1115 | &nbsp;&nbsp;&nbsp;&nbsp; 4802 |
| **United Kingdom — 1.7%** | **United Kingdom — 1.7%** | **United Kingdom — 1.7%** |
| &nbsp;&nbsp;&nbsp; Admiral Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 1387 |
| &nbsp;&nbsp;&nbsp; AstraZeneca plc | &nbsp;&nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp; 16594 |
| &nbsp;&nbsp;&nbsp; Aviva plc | &nbsp;&nbsp;&nbsp;&nbsp; 222 | &nbsp;&nbsp;&nbsp;&nbsp; 1933 |
| &nbsp;&nbsp;&nbsp; Balfour Beatty plc | &nbsp;&nbsp;&nbsp;&nbsp; 228 | &nbsp;&nbsp;&nbsp;&nbsp; 2233 |
| &nbsp;&nbsp;&nbsp; Barclays plc | &nbsp;&nbsp;&nbsp;&nbsp; 586 | &nbsp;&nbsp;&nbsp;&nbsp; 3914 |
| &nbsp;&nbsp;&nbsp; Barratt Redrow plc | &nbsp;&nbsp;&nbsp;&nbsp; 454 | &nbsp;&nbsp;&nbsp;&nbsp; 2417 |
| &nbsp;&nbsp;&nbsp; Beazley plc | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 1502 |
| &nbsp;&nbsp;&nbsp; British American Tobacco plc | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 4979 |
| &nbsp;&nbsp;&nbsp; British Land Co. plc (The), REIT | &nbsp;&nbsp;&nbsp;&nbsp; 263 | &nbsp;&nbsp;&nbsp;&nbsp; 1501 |
| &nbsp;&nbsp;&nbsp; Centrica plc | &nbsp;&nbsp;&nbsp;&nbsp; 1062 | &nbsp;&nbsp;&nbsp;&nbsp; 2780 |
| &nbsp;&nbsp;&nbsp; Drax Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp;&nbsp;&nbsp; 2380 |
| &nbsp;&nbsp;&nbsp; Dunelm Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 1270 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 581 | &nbsp;&nbsp;&nbsp;&nbsp; 10247 |
| &nbsp;&nbsp;&nbsp; IG Group Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 773 |
| &nbsp;&nbsp;&nbsp; Imperial Brands plc | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA | &nbsp;&nbsp;&nbsp;&nbsp; 363 | &nbsp;&nbsp;&nbsp;&nbsp; 2084 |
| &nbsp;&nbsp;&nbsp; Investec plc | &nbsp;&nbsp;&nbsp;&nbsp; 166 | &nbsp;&nbsp;&nbsp;&nbsp; 1380 |
| &nbsp;&nbsp;&nbsp; ITV plc | &nbsp;&nbsp;&nbsp;&nbsp; 1422 | &nbsp;&nbsp;&nbsp;&nbsp; 1585 |
| &nbsp;&nbsp;&nbsp; J Sainsbury plc | &nbsp;&nbsp;&nbsp;&nbsp; 569 | &nbsp;&nbsp;&nbsp;&nbsp; 2494 |
| &nbsp;&nbsp;&nbsp; Johnson Matthey plc | &nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp; 2249 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United Kingdom — continued** | **United Kingdom — continued** | **United Kingdom — continued** |
| &nbsp;&nbsp;&nbsp; Kingfisher plc | &nbsp;&nbsp;&nbsp;&nbsp; 273 | &nbsp;&nbsp;&nbsp;&nbsp; 1256 |
| &nbsp;&nbsp;&nbsp; Lancashire Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp; 1293 |
| &nbsp;&nbsp;&nbsp; Land Securities Group plc, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 265 | &nbsp;&nbsp;&nbsp;&nbsp; 2369 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 2979 | &nbsp;&nbsp;&nbsp;&nbsp; 4448 |
| &nbsp;&nbsp;&nbsp; M&G plc | &nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp; 2226 |
| &nbsp;&nbsp;&nbsp; Man Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 471 | &nbsp;&nbsp;&nbsp;&nbsp; 1701 |
| &nbsp;&nbsp;&nbsp; Mitie Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 1015 | &nbsp;&nbsp;&nbsp;&nbsp; 2329 |
| &nbsp;&nbsp;&nbsp; Morgan Sindall Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 1851 |
| &nbsp;&nbsp;&nbsp; National Grid plc | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 4256 |
| &nbsp;&nbsp;&nbsp; NatWest Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 1651 | &nbsp;&nbsp;&nbsp;&nbsp; 15050 |
| &nbsp;&nbsp;&nbsp; Next plc | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 2141 |
| &nbsp;&nbsp;&nbsp; Persimmon plc | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 1198 |
| &nbsp;&nbsp;&nbsp; Phoenix Group Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; 2657 |
| &nbsp;&nbsp;&nbsp; Reckitt Benckiser Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 3203 |
| &nbsp;&nbsp;&nbsp; RELX plc | &nbsp;&nbsp;&nbsp;&nbsp; 282 | &nbsp;&nbsp;&nbsp;&nbsp; 9998 |
| &nbsp;&nbsp;&nbsp; Rolls-Royce Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 268 | &nbsp;&nbsp;&nbsp;&nbsp; 4483 |
| &nbsp;&nbsp;&nbsp; Sage Group plc (The) | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 820 |
| &nbsp;&nbsp;&nbsp; SSE plc | &nbsp;&nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp; 4514 |
| &nbsp;&nbsp;&nbsp; Telecom Plus plc | &nbsp;&nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp; 1331 |
| &nbsp;&nbsp;&nbsp; Tesco plc | &nbsp;&nbsp;&nbsp;&nbsp; 1015 | &nbsp;&nbsp;&nbsp;&nbsp; 5904 |
| &nbsp;&nbsp;&nbsp; TP ICAP Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 336 | &nbsp;&nbsp;&nbsp;&nbsp; 1170 |
| &nbsp;&nbsp;&nbsp; Unilever plc | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 586 |
| &nbsp;&nbsp;&nbsp; UNITE Group plc (The), REIT | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 169 |
| &nbsp;&nbsp;&nbsp; Vodafone Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 3480 | &nbsp;&nbsp;&nbsp;&nbsp; 5126 |
| &nbsp;&nbsp;&nbsp; WPP plc | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp; 1868 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 145905 |
| **United States — 15.0%** | **United States — 15.0%** | **United States — 15.0%** |
| &nbsp;&nbsp;&nbsp; 3M Co. | &nbsp;&nbsp;&nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp; 14653 |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 27341 |
| &nbsp;&nbsp;&nbsp; Accenture plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 10210 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 4471 |
| &nbsp;&nbsp;&nbsp; Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 2309 |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp; 4362 |
| &nbsp;&nbsp;&nbsp; Amcor plc | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 925 |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 4758 |
| &nbsp;&nbsp;&nbsp; American Tower Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 1035 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 4841 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp; 9873 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 19533 |
| &nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; 5199 |
| &nbsp;&nbsp;&nbsp; Ardagh Group SA ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 354 | &nbsp;&nbsp;&nbsp;&nbsp; 2781 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 579 | &nbsp;&nbsp;&nbsp;&nbsp; 15172 |
| &nbsp;&nbsp;&nbsp; Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 3838 |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 286 | &nbsp;&nbsp;&nbsp;&nbsp; 16046 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 446 | &nbsp;&nbsp;&nbsp;&nbsp; 23735 |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 173 | &nbsp;&nbsp;&nbsp;&nbsp; 3477 |
| &nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 3896 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; BP plc | &nbsp;&nbsp;&nbsp;&nbsp; 1159 | &nbsp;&nbsp;&nbsp;&nbsp; 7350 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp; 291 | &nbsp;&nbsp;&nbsp;&nbsp; 16035 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp;&nbsp;&nbsp; 35905 |
| &nbsp;&nbsp;&nbsp; Brown-Forman Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; 4206 |
| &nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 4426 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp; 14779 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp; 4775 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 287 | &nbsp;&nbsp;&nbsp;&nbsp; 600 |
| &nbsp;&nbsp;&nbsp; Clorox Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 4480 |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 18277 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp;&nbsp;&nbsp; 12527 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp; 3994 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 951 |
| &nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 4041 |
| &nbsp;&nbsp;&nbsp; Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 4598 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 3911 |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 5304 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 4157 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp; 3938 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 3666 |
| &nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 3179 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 4276 |
| &nbsp;&nbsp;&nbsp; Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp;&nbsp; 4748 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 3856 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 4344 |
| &nbsp;&nbsp;&nbsp; Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 9391 |
| &nbsp;&nbsp;&nbsp; Edison International | &nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp; 4591 |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 22040 |
| &nbsp;&nbsp;&nbsp; Endo GUC Trust ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 377 | &nbsp;&nbsp;&nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 4757 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 11264 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp; 4653 |
| &nbsp;&nbsp;&nbsp; Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 4295 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; 4213 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 10120 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 3906 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 152 | &nbsp;&nbsp;&nbsp;&nbsp; 21466 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; 4080 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 413 | &nbsp;&nbsp;&nbsp;&nbsp; 22822 |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp; 356 | &nbsp;&nbsp;&nbsp;&nbsp; 4946 |
| &nbsp;&nbsp;&nbsp; Franklin Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 171 | &nbsp;&nbsp;&nbsp;&nbsp; 4545 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 1054 |
| &nbsp;&nbsp;&nbsp; General Mills, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp; 3985 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; 12396 |
| &nbsp;&nbsp;&nbsp; GQG Partners, Inc., CHDI (a) | &nbsp;&nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp;&nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp; GSK plc | &nbsp;&nbsp;&nbsp;&nbsp; 347 | &nbsp;&nbsp;&nbsp;&nbsp; 8986 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 1668 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Haleon plc | &nbsp;&nbsp;&nbsp;&nbsp; 1055 | &nbsp;&nbsp;&nbsp;&nbsp; 5515 |
| &nbsp;&nbsp;&nbsp; Hershey Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 4287 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp;&nbsp; 4040 |
| &nbsp;&nbsp;&nbsp; Hormel Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp; 4158 |
| &nbsp;&nbsp;&nbsp; HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp; 3495 |
| &nbsp;&nbsp;&nbsp; iHeartMedia, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp; 396 |
| &nbsp;&nbsp;&nbsp; Incora Intermediate LLC ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 433 |
| &nbsp;&nbsp;&nbsp; Incora Top Holdco LLC ‡ \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 4689 |
| &nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 3334 |
| &nbsp;&nbsp;&nbsp; International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp; 3132 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 3466 |
| &nbsp;&nbsp;&nbsp; JBS NV, Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp; 1394 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp; 25982 |
| &nbsp;&nbsp;&nbsp; Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 244 | &nbsp;&nbsp;&nbsp;&nbsp; 4237 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; 4253 |
| &nbsp;&nbsp;&nbsp; KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp; 226 | &nbsp;&nbsp;&nbsp;&nbsp; 4872 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 3971 |
| &nbsp;&nbsp;&nbsp; Kimco Realty Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 198 | &nbsp;&nbsp;&nbsp;&nbsp; 4164 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp; 4607 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp;&nbsp; 3921 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 4897 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp;&nbsp; 27636 |
| &nbsp;&nbsp;&nbsp; LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp; 2583 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; 6945 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 4154 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt plc ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 3008864 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp; Mallinckrodt plc, Class B ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 1799505 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 18291 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 16137 |
| &nbsp;&nbsp;&nbsp; Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp;&nbsp;&nbsp; 11158 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp; 14299 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 24258 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 771 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 173 | &nbsp;&nbsp;&nbsp;&nbsp; 74576 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp; 10318 |
| &nbsp;&nbsp;&nbsp; Moran Foods Backstop Equity ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 23005766 | &nbsp;&nbsp;&nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; 20618 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 4211 |
| &nbsp;&nbsp;&nbsp; MYT Holding LLC ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 1342 | &nbsp;&nbsp;&nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp; National CineMedia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp; 387 |
| &nbsp;&nbsp;&nbsp; Neiman Marcus Group, Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp; Nestle SA (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp; 7976 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 3017 |
| &nbsp;&nbsp;&nbsp; New Evhc Physical Equity \* | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp; NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 287 | &nbsp;&nbsp;&nbsp;&nbsp; 25186 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; NMG Parent LLC, Escrow ‡ \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp; Novartis AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; 19207 |
| &nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 199 | &nbsp;&nbsp;&nbsp;&nbsp; 15297 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 4318 |
| &nbsp;&nbsp;&nbsp; PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp;&nbsp;&nbsp; 9735 |
| &nbsp;&nbsp;&nbsp; Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 13856 |
| &nbsp;&nbsp;&nbsp; Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 159 | &nbsp;&nbsp;&nbsp;&nbsp; 4192 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 4502 |
| &nbsp;&nbsp;&nbsp; Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 4459 |
| &nbsp;&nbsp;&nbsp; PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 1217 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 7588 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 3830 |
| &nbsp;&nbsp;&nbsp; Public Storage, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 3184 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 4344 |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp; 3863 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 389 | &nbsp;&nbsp;&nbsp;&nbsp; 11085 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 12762 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 5140 |
| &nbsp;&nbsp;&nbsp; Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 14139 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 6923 |
| &nbsp;&nbsp;&nbsp; Sempra | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 3922 |
| &nbsp;&nbsp;&nbsp; Shell plc | &nbsp;&nbsp;&nbsp;&nbsp; 459 | &nbsp;&nbsp;&nbsp;&nbsp; 17661 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 4632 |
| &nbsp;&nbsp;&nbsp; Smurfit WestRock plc | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 956 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 4242 |
| &nbsp;&nbsp;&nbsp; Stellantis NV | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp; Sun Communities, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 4119 |
| &nbsp;&nbsp;&nbsp; Swiss Re AG | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 2197 |
| &nbsp;&nbsp;&nbsp; T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 3197 |
| &nbsp;&nbsp;&nbsp; Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 4653 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 4032 |
| &nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 3897 |
| &nbsp;&nbsp;&nbsp; Trane Technologies plc | &nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp; 28332 |
| &nbsp;&nbsp;&nbsp; TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 4308 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp; 4887 |
| &nbsp;&nbsp;&nbsp; Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp; 4753 |
| &nbsp;&nbsp;&nbsp; Ubiquiti, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 2529 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 5009 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 10094 |
| &nbsp;&nbsp;&nbsp; US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp;&nbsp;&nbsp; 10812 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 4389 |
| &nbsp;&nbsp;&nbsp; Venator Materials plc ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Ventas, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 3319 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 249 | &nbsp;&nbsp;&nbsp;&nbsp; 11081 |
| &nbsp;&nbsp;&nbsp; VICI Properties, Inc., REIT, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 459 | &nbsp;&nbsp;&nbsp;&nbsp; 12893 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 296 | &nbsp;&nbsp;&nbsp;&nbsp; 33435 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Warner Music Group Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp;&nbsp; 5047 |
| &nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 4039 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 164 | &nbsp;&nbsp;&nbsp;&nbsp; 14830 |
| &nbsp;&nbsp;&nbsp; Weyerhaeuser Co., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp;&nbsp;&nbsp; 2792 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 4762 |
| &nbsp;&nbsp;&nbsp; WP Carey, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp; 4567 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp; 4251 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp; 19543 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1294186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $2,025,753)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 2789159 |
|  | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Corporate Bonds — 31.2%** | **Corporate Bonds — 31.2%** | **Corporate Bonds — 31.2%** |
| **Angola — 0.0% ^** | **Angola — 0.0% ^** | **Angola — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Azule Energy Finance plc 8.13%, 1/23/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 706 |
| &nbsp;&nbsp;&nbsp; Sonangol Finance Ltd. 10.00%, 1/29/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2670 | &nbsp;&nbsp;&nbsp;&nbsp; 2638 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3344 |
| **Argentina — 0.0% ^** | **Argentina — 0.0% ^** | **Argentina — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Pampa Energia SA 7.95%, 9/10/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 383 | &nbsp;&nbsp;&nbsp;&nbsp; 397 |
| &nbsp;&nbsp;&nbsp; Transportadora de Gas del Sur SA 8.50%, 7/24/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp; YPF Energia Electrica SA 7.88%, 10/16/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp; YPF SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 6/27/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 913 | &nbsp;&nbsp;&nbsp;&nbsp; 945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/17/2034 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1019 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3149 |
| **Australia — 0.0% ^** | **Australia — 0.0% ^** | **Australia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Australia & New Zealand Banking Group Ltd. (SOFR + 0.56%), 4.23%, 3/18/2026 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 9/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 9/23/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1229 | &nbsp;&nbsp;&nbsp;&nbsp; 1113 |
| &nbsp;&nbsp;&nbsp; Scentre Group Trust 1, REIT 3.75%, 3/23/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1661 |
| **Austria — 0.0% ^** | **Austria — 0.0% ^** | **Austria — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; ams-OSRAM AG 12.25%, 3/30/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3316 | &nbsp;&nbsp;&nbsp;&nbsp; 3524 |
| **Brazil — 0.2%** | **Brazil — 0.2%** | **Brazil — 0.2%** |
| &nbsp;&nbsp;&nbsp; Axia Energia 6.50%, 1/11/2035 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 930 |
| &nbsp;&nbsp;&nbsp; Braskem Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/13/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1287 | &nbsp;&nbsp;&nbsp;&nbsp; 516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 10/15/2034 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 975 | &nbsp;&nbsp;&nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp; Caixa Economica Federal 5.63%, 5/13/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1570 | &nbsp;&nbsp;&nbsp;&nbsp; 1593 |
| &nbsp;&nbsp;&nbsp; FS Luxembourg SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 2/12/2031 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp; 438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 2/12/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 738 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Brazil — continued** | **Brazil — continued** | **Brazil — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 6/25/2033 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1720 | &nbsp;&nbsp;&nbsp;&nbsp; 1777 |
| &nbsp;&nbsp;&nbsp; LD Celulose International GmbH 7.95%, 1/26/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1052 |
| &nbsp;&nbsp;&nbsp; Minerva Luxembourg SA 8.88%, 9/13/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1778 | &nbsp;&nbsp;&nbsp;&nbsp; 1939 |
| &nbsp;&nbsp;&nbsp; Petrobras Global Finance BV 6.85%, 6/5/2115 | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp; Raizen Fuels Finance SA 6.45%, 3/5/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp;&nbsp;&nbsp; 2139 |
| &nbsp;&nbsp;&nbsp; Vale Overseas Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 7/8/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 6.00%, 2/25/2056 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1260 | &nbsp;&nbsp;&nbsp;&nbsp; 1266 |
| &nbsp;&nbsp;&nbsp; Yinson Bergenia Production BV 8.50%, 1/31/2045 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1356 | &nbsp;&nbsp;&nbsp;&nbsp; 1449 |
| &nbsp;&nbsp;&nbsp; Yinson Boronia Production BV 8.95%, 7/31/2042 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1397 | &nbsp;&nbsp;&nbsp;&nbsp; 1551 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16079 |
| **Canada — 1.6%** | **Canada — 1.6%** | **Canada — 1.6%** |
| &nbsp;&nbsp;&nbsp; 1011778 BC ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 1/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1920 | &nbsp;&nbsp;&nbsp;&nbsp; 1891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 891 | &nbsp;&nbsp;&nbsp;&nbsp; 859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp; 2624 |
| &nbsp;&nbsp;&nbsp; ATS Corp. 4.13%, 12/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp;&nbsp;&nbsp; 1122 |
| &nbsp;&nbsp;&nbsp; Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series f2f, (SOFR + 0.88%), 4.57%, 9/10/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 9/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.01%), 7.30%, 11/26/2084 (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 4575 | &nbsp;&nbsp;&nbsp;&nbsp; 4881 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 2/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 886 | &nbsp;&nbsp;&nbsp;&nbsp; 936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.39%), 8.63%, 10/27/2082 (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 4250 | &nbsp;&nbsp;&nbsp;&nbsp; 4501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.73%), 6.88%, 10/27/2085 (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 1425 | &nbsp;&nbsp;&nbsp;&nbsp; 1463 |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1413 | &nbsp;&nbsp;&nbsp;&nbsp; 1307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/30/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4303 | &nbsp;&nbsp;&nbsp;&nbsp; 3060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 2/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3262 | &nbsp;&nbsp;&nbsp;&nbsp; 2137 |
| &nbsp;&nbsp;&nbsp; Bombardier, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 2/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 260 | &nbsp;&nbsp;&nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 11/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1497 | &nbsp;&nbsp;&nbsp;&nbsp; 1604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 7/1/2031 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4448 | &nbsp;&nbsp;&nbsp;&nbsp; 4722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 6/1/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1579 | &nbsp;&nbsp;&nbsp;&nbsp; 1657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 6/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1106 | &nbsp;&nbsp;&nbsp;&nbsp; 1162 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 0.60%), 4.24%, 9/8/2028 (a) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 247 | &nbsp;&nbsp;&nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.26%, 4/8/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1257 | &nbsp;&nbsp;&nbsp;&nbsp; 1300 |
| &nbsp;&nbsp;&nbsp; Element Fleet Management Corp. 5.64%, 3/13/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp; Emera US Finance LP 2.64%, 6/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 14 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. Series 16-A, (3-MONTH SOFR + 5.44%), 6.75%, 6/15/2076 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 7618 | &nbsp;&nbsp;&nbsp;&nbsp; 7670 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp;&nbsp; 405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 16-A, (3-MONTH CME TERM SOFR + 4.15%), 6.00%, 1/15/2077 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1924 | &nbsp;&nbsp;&nbsp;&nbsp; 1937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 20-A, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.31%), 5.75%, 7/15/2080 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 10157 | &nbsp;&nbsp;&nbsp;&nbsp; 10281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.42%), 7.63%, 1/15/2083 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 4061 | &nbsp;&nbsp;&nbsp;&nbsp; 4430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.43%), 8.50%, 1/15/2084 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 575 | &nbsp;&nbsp;&nbsp;&nbsp; 658 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Canada — continued** | **Canada — continued** | **Canada — continued** |
| &nbsp;&nbsp;&nbsp; Federation des Caisses Desjardins du Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 3/14/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 266 | &nbsp;&nbsp;&nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/26/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1252 | &nbsp;&nbsp;&nbsp;&nbsp; 1292 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1547 | &nbsp;&nbsp;&nbsp;&nbsp; 1580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 1/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1560 | &nbsp;&nbsp;&nbsp;&nbsp; 1599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 11/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1332 | &nbsp;&nbsp;&nbsp;&nbsp; 1368 |
| &nbsp;&nbsp;&nbsp; National Bank of Canada (SOFR + 0.80%), 4.95%, 2/1/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; Northriver Midstream Finance LP 6.75%, 7/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1242 | &nbsp;&nbsp;&nbsp;&nbsp; 1264 |
| &nbsp;&nbsp;&nbsp; NOVA Chemicals Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/1/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5351 | &nbsp;&nbsp;&nbsp;&nbsp; 5376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 11/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2819 | &nbsp;&nbsp;&nbsp;&nbsp; 2944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 2/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5814 | &nbsp;&nbsp;&nbsp;&nbsp; 6200 |
| &nbsp;&nbsp;&nbsp; RB Global Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 760 | &nbsp;&nbsp;&nbsp;&nbsp; 774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 3/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1476 | &nbsp;&nbsp;&nbsp;&nbsp; 1539 |
| &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 790 | &nbsp;&nbsp;&nbsp;&nbsp; 749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.59%), 5.25%, 3/15/2082 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 4421 | &nbsp;&nbsp;&nbsp;&nbsp; 4416 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 7/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 177 | &nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 0.46%), 4.15%, 8/3/2026 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 457 | &nbsp;&nbsp;&nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 1.08%), 4.65%, 10/18/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 970 | &nbsp;&nbsp;&nbsp;&nbsp; 984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.89%), 7.50%, 5/2/2084 (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 5406 | &nbsp;&nbsp;&nbsp;&nbsp; 5692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.82%), 6.75%, 8/24/2085 (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 2670 | &nbsp;&nbsp;&nbsp;&nbsp; 2761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.46%), 6.50%, 11/24/2085 (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 4049 | &nbsp;&nbsp;&nbsp;&nbsp; 4030 |
| &nbsp;&nbsp;&nbsp; Superior Plus LP 4.50%, 3/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1621 | &nbsp;&nbsp;&nbsp;&nbsp; 1584 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 6/3/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 261 | &nbsp;&nbsp;&nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 4/5/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 854 | &nbsp;&nbsp;&nbsp;&nbsp; 877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.46%, 6/8/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1093 | &nbsp;&nbsp;&nbsp;&nbsp; 1092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.08%), 8.13%, 10/31/2082 (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 5676 | &nbsp;&nbsp;&nbsp;&nbsp; 5947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.72%), 6.35%, 10/31/2085 (e) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 7189 | &nbsp;&nbsp;&nbsp;&nbsp; 7306 |
| &nbsp;&nbsp;&nbsp; Transcanada Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 16-A, (3-MONTH SOFR + 4.64%), 5.88%, 8/15/2076 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2598 | &nbsp;&nbsp;&nbsp;&nbsp; 2604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 4.42%), 5.50%, 9/15/2079 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 7546 | &nbsp;&nbsp;&nbsp;&nbsp; 7529 |
| &nbsp;&nbsp;&nbsp; Wrangler Holdco Corp. 6.63%, 4/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2123 | &nbsp;&nbsp;&nbsp;&nbsp; 2209 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 134905 |
| **Colombia — 0.1%** | **Colombia — 0.1%** | **Colombia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ecopetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 1/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1330 | &nbsp;&nbsp;&nbsp;&nbsp; 1364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 1/13/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 467 | &nbsp;&nbsp;&nbsp;&nbsp; 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 1/19/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 1469 | &nbsp;&nbsp;&nbsp;&nbsp; 1519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 9/18/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 412 | &nbsp;&nbsp;&nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 5/28/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp; EnfraGen Energia Sur SA 5.38%, 12/30/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp; 884 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Colombia — continued** | **Colombia — continued** | **Colombia — continued** |
| &nbsp;&nbsp;&nbsp; Grupo Nutresa SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 5/12/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 5/12/2035 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1116 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7171 |
| **Denmark — 0.0% ^** | **Denmark — 0.0% ^** | **Denmark — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.40%), 5.71%, 3/1/2030 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 274 | &nbsp;&nbsp;&nbsp;&nbsp; 285 |
| **El Salvador — 0.0% ^** | **El Salvador — 0.0% ^** | **El Salvador — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Comision Ejecutiva Hidroelectrica del Rio Lempa 8.65%, 1/24/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 288 | &nbsp;&nbsp;&nbsp;&nbsp; 307 |
| **Finland — 0.1%** | **Finland — 0.1%** | **Finland — 0.1%** |
| &nbsp;&nbsp;&nbsp; Amer Sports Co. 6.75%, 2/16/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4350 | &nbsp;&nbsp;&nbsp;&nbsp; 4523 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 9/30/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 578 | &nbsp;&nbsp;&nbsp;&nbsp; 569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.66%), 6.30%, 9/25/2031 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2680 | &nbsp;&nbsp;&nbsp;&nbsp; 2740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.72%), 6.75%, 11/10/2033 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 3436 | &nbsp;&nbsp;&nbsp;&nbsp; 3530 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11362 |
| **France — 0.7%** | **France — 0.7%** | **France — 0.7%** |
| &nbsp;&nbsp;&nbsp; Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 11/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2301 | &nbsp;&nbsp;&nbsp;&nbsp; 2362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 282 | &nbsp;&nbsp;&nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2896 | &nbsp;&nbsp;&nbsp;&nbsp; 2829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 7/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2235 | &nbsp;&nbsp;&nbsp;&nbsp; 2182 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.97%), 9.25%, 11/17/2027 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4121 | &nbsp;&nbsp;&nbsp;&nbsp; 4402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.90%), 7.75%, 8/16/2029 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 11268 | &nbsp;&nbsp;&nbsp;&nbsp; 11968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.59%), 5.50%, 5/20/2030 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp; 911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.85%), 6.88%, 12/15/2033 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2295 | &nbsp;&nbsp;&nbsp;&nbsp; 2316 |
| &nbsp;&nbsp;&nbsp; BPCE SA (SOFR + 1.98%), 6.61%, 10/19/2027 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 518 | &nbsp;&nbsp;&nbsp;&nbsp; 527 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/10/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 482 | &nbsp;&nbsp;&nbsp;&nbsp; 483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 3/11/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 476 | &nbsp;&nbsp;&nbsp;&nbsp; 482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 7/12/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 357 | &nbsp;&nbsp;&nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD SOFR Spread-Adjusted ICE Swap Rate 5 Year + 3.60%), 6.70%, 9/23/2034 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 9970 | &nbsp;&nbsp;&nbsp;&nbsp; 10196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.86%, 1/9/2036 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 620 | &nbsp;&nbsp;&nbsp;&nbsp; 652 |
| &nbsp;&nbsp;&nbsp; Forvia SE 6.75%, 9/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 766 | &nbsp;&nbsp;&nbsp;&nbsp; 785 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.39%), 9.38%, 11/22/2027 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 5786 | &nbsp;&nbsp;&nbsp;&nbsp; 6180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.80%, 1/19/2028 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1091 | &nbsp;&nbsp;&nbsp;&nbsp; 1077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.52%, 1/19/2028 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 897 | &nbsp;&nbsp;&nbsp;&nbsp; 909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.79%), 8.13%, 11/21/2029 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 3320 | &nbsp;&nbsp;&nbsp;&nbsp; 3542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.51%), 5.38%, 11/18/2030 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 5432 | &nbsp;&nbsp;&nbsp;&nbsp; 5281 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 57729 |
| **Georgia — 0.0% ^** | **Georgia — 0.0% ^** | **Georgia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Georgian Railway JSC 4.00%, 6/17/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 667 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Germany — 0.1%** | **Germany — 0.1%** | **Germany — 0.1%** |
| &nbsp;&nbsp;&nbsp; BMW US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 0.55%), 4.20%, 4/2/2026 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 8/13/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; Commerzbank AG (USD SOFR Spread-Adjusted ICE Swap Rate 5 Year + 4.32%), 7.50%, 10/9/2030 (b) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1479 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom International Finance BV 8.75%, 6/15/2030 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 878 | &nbsp;&nbsp;&nbsp;&nbsp; 1024 |
| &nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75% (Cash), 11/15/2030 (d) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 1816 | &nbsp;&nbsp;&nbsp;&nbsp; 1909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00% (Cash), 11/15/2032 (d) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 722 | &nbsp;&nbsp;&nbsp;&nbsp; 770 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Finance North America LLC 4.90%, 11/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp; Volkswagen Group of America Finance LLC (SOFR + 0.83%), 4.50%, 3/20/2026 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6128 |
| **Ireland — 0.0% ^** | **Ireland — 0.0% ^** | **Ireland — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 499 | &nbsp;&nbsp;&nbsp;&nbsp; 512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.72%), 6.95%, 3/10/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1247 | &nbsp;&nbsp;&nbsp;&nbsp; 1306 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1818 |
| **Italy — 0.1%** | **Italy — 0.1%** | **Italy — 0.1%** |
| &nbsp;&nbsp;&nbsp; Fibercop SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2033, 6.38%, 11/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 856 | &nbsp;&nbsp;&nbsp;&nbsp; 867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/30/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4028 | &nbsp;&nbsp;&nbsp;&nbsp; 3911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.72%, 6/4/2038 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 488 | &nbsp;&nbsp;&nbsp;&nbsp; 502 |
| &nbsp;&nbsp;&nbsp; Telecom Italia Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/30/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 273 | &nbsp;&nbsp;&nbsp;&nbsp; 280 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5711 |
| **Jamaica — 0.0% ^** | **Jamaica — 0.0% ^** | **Jamaica — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd. 8.63%, 8/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1349 | &nbsp;&nbsp;&nbsp;&nbsp; 1403 |
| &nbsp;&nbsp;&nbsp; Kingston Airport Revenue Finance Ltd. 6.75%, 12/15/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1299 | &nbsp;&nbsp;&nbsp;&nbsp; 1327 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2730 |
| **Japan — 0.1%** | **Japan — 0.1%** | **Japan — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kioxia Holdings Corp. 6.25%, 7/24/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4322 | &nbsp;&nbsp;&nbsp;&nbsp; 4465 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.75%), 1.54%, 7/20/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 264 | &nbsp;&nbsp;&nbsp;&nbsp; 261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.64%, 10/13/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 663 | &nbsp;&nbsp;&nbsp;&nbsp; 652 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.23%, 5/22/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 268 | &nbsp;&nbsp;&nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.08%), 5.38%, 7/10/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 267 | &nbsp;&nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 5.59%, 7/10/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp; 438 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 7/9/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 377 | &nbsp;&nbsp;&nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.28%), 6.60%, 6/5/2034 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2696 | &nbsp;&nbsp;&nbsp;&nbsp; 2785 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9533 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| &nbsp;&nbsp;&nbsp; Altice Financing SA 5.75%, 8/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4343 | &nbsp;&nbsp;&nbsp;&nbsp; 3125 |
| &nbsp;&nbsp;&nbsp; Altice France Lux 3 10.00%, 1/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 813 | &nbsp;&nbsp;&nbsp;&nbsp; 785 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Luxembourg — continued** | **Luxembourg — continued** | **Luxembourg — continued** |
| &nbsp;&nbsp;&nbsp; INEOS Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1877 | &nbsp;&nbsp;&nbsp;&nbsp; 1645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1780 | &nbsp;&nbsp;&nbsp;&nbsp; 1491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7046 |
| **Mexico — 0.4%** | **Mexico — 0.4%** | **Mexico — 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cemex SAB de CV (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.52%), 7.20%, 6/10/2030 (d) (e) (g) <br> (h)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 523 | &nbsp;&nbsp;&nbsp;&nbsp; 548 |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad 6.50%, 1/28/2051 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 788 | &nbsp;&nbsp;&nbsp;&nbsp; 791 |
| &nbsp;&nbsp;&nbsp; FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple 7.25%, 1/31/2041 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 683 | &nbsp;&nbsp;&nbsp;&nbsp; 711 |
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 1/28/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1460 | &nbsp;&nbsp;&nbsp;&nbsp; 1423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 2/16/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6320 | &nbsp;&nbsp;&nbsp;&nbsp; 6309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 2/7/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4025 | &nbsp;&nbsp;&nbsp;&nbsp; 4685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 2/7/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 1/23/2045 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/23/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 742 | &nbsp;&nbsp;&nbsp;&nbsp; 562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/21/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 850 | &nbsp;&nbsp;&nbsp;&nbsp; 699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 2/12/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.69%, 1/23/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 13222 | &nbsp;&nbsp;&nbsp;&nbsp; 11899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 1/28/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 2900 | &nbsp;&nbsp;&nbsp;&nbsp; 2362 |
| &nbsp;&nbsp;&nbsp; Saavi Energia SARL 8.88%, 2/10/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1729 | &nbsp;&nbsp;&nbsp;&nbsp; 1872 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 33689 |
| **Morocco — 0.0% ^** | **Morocco — 0.0% ^** | **Morocco — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; OCP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/25/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1030 | &nbsp;&nbsp;&nbsp;&nbsp; 1061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/23/2051 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 5/2/2054 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1430 | &nbsp;&nbsp;&nbsp;&nbsp; 1557 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3426 |
| **Netherlands — 0.2%** | **Netherlands — 0.2%** | **Netherlands — 0.2%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 6.34%, 9/18/2027 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 7/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 374 | &nbsp;&nbsp;&nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.73%), 1.98%, 12/15/2027 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 797 | &nbsp;&nbsp;&nbsp;&nbsp; 784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.40%), 5.56%, 2/28/2029 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 552 | &nbsp;&nbsp;&nbsp;&nbsp; 568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.12%), 5.45%, 3/5/2030 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 552 | &nbsp;&nbsp;&nbsp;&nbsp; 571 |
| &nbsp;&nbsp;&nbsp; ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 3/29/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 729 | &nbsp;&nbsp;&nbsp;&nbsp; 729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.01%), 1.73%, 4/1/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD SOFR Spread-Adjusted ICE Swap Rate 5 Year + 4.36%), 8.00%, 5/16/2030 (b) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 12939 | &nbsp;&nbsp;&nbsp;&nbsp; 14059 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17636 |
| **New Zealand — 0.0% ^** | **New Zealand — 0.0% ^** | **New Zealand — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; ASB Bank Ltd. 1.63%, 10/22/2026 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; 258 |
| **Paraguay — 0.0% ^** | **Paraguay — 0.0% ^** | **Paraguay — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Bioceanico Sovereign Certificate Ltd., Zero Coupon, 6/5/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 289 | &nbsp;&nbsp;&nbsp;&nbsp; 237 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Peru — 0.0% ^** | **Peru — 0.0% ^** | **Peru — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Petroleos del Peru SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/19/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 6/19/2047 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp;&nbsp;&nbsp; 1745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2803 |
| **South Africa — 0.1%** | **South Africa — 0.1%** | **South Africa — 0.1%** |
| &nbsp;&nbsp;&nbsp; Eskom Holdings, 8.45%, 8/10/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp; 2354 |
| &nbsp;&nbsp;&nbsp; Transnet 8.25%, 2/6/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 1688 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4042 |
| **Spain — 0.3%** | **Spain — 0.3%** | **Spain — 0.3%** |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/13/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.10%), 9.38%, 3/19/2029 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 10409 | &nbsp;&nbsp;&nbsp;&nbsp; 11646 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 5.55%, 3/14/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp; 1258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.30%), 9.63%, 5/21/2033 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 9800 | &nbsp;&nbsp;&nbsp;&nbsp; 11827 |
| &nbsp;&nbsp;&nbsp; Grifols SA 4.75%, 10/15/2028 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2824 | &nbsp;&nbsp;&nbsp;&nbsp; 2782 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 28334 |
| **Sweden — 0.1%** | **Sweden — 0.1%** | **Sweden — 0.1%** |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB 5.38%, 3/5/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1218 | &nbsp;&nbsp;&nbsp;&nbsp; 1259 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.63%), 1.42%, 6/11/2027 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 351 | &nbsp;&nbsp;&nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 6/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 856 | &nbsp;&nbsp;&nbsp;&nbsp; 884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.05%), 4.75%, 3/1/2031 (b) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2800 | &nbsp;&nbsp;&nbsp;&nbsp; 2675 |
| &nbsp;&nbsp;&nbsp; Swedbank AB 5.34%, 9/20/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 358 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5524 |
| **Switzerland — 0.2%** | **Switzerland — 0.2%** | **Switzerland — 0.2%** |
| &nbsp;&nbsp;&nbsp; UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 0.98%), 1.31%, 2/2/2027 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD SOFR Spread-Adjusted ICE Swap Rate 1 Year + 1.34%), 5.62%, 9/13/2030 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 288 | &nbsp;&nbsp;&nbsp;&nbsp; 301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.76%), 9.25%, 11/13/2033 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 13592 | &nbsp;&nbsp;&nbsp;&nbsp; 15897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD SOFR Spread-Adjusted ICE Swap Rate 5 Year + 3.32%), 7.00%, 1/8/2036 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1346 | &nbsp;&nbsp;&nbsp;&nbsp; 1362 |
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance plc 9.50%, 6/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp; 2185 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20245 |
| **Trinidad And Tobago — 0.0% ^** | **Trinidad And Tobago — 0.0% ^** | **Trinidad And Tobago — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Trinidad Generation UnLtd 7.75%, 6/16/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 836 | &nbsp;&nbsp;&nbsp;&nbsp; 878 |
| **Turkey — 0.0% ^** | **Turkey — 0.0% ^** | **Turkey — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; TC Ziraat Bankasi A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 1/16/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/4/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2095 | &nbsp;&nbsp;&nbsp;&nbsp; 2171 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3656 |
| **United Kingdom — 0.9%** | **United Kingdom — 0.9%** | **United Kingdom — 0.9%** |
| &nbsp;&nbsp;&nbsp; Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.67%, 3/12/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 356 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United Kingdom — continued** | **United Kingdom — continued** | **United Kingdom — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.43%), 8.00%, 3/15/2029 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2749 | &nbsp;&nbsp;&nbsp;&nbsp; 2939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD SOFR Spread-Adjusted ICE Swap Rate 5 Year + 5.78%), 9.63%, 12/15/2029 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.69%, 3/12/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 2/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 835 | &nbsp;&nbsp;&nbsp;&nbsp; 886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 8/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp; 545 |
| &nbsp;&nbsp;&nbsp; Connect Finco SARL 9.00%, 9/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2325 | &nbsp;&nbsp;&nbsp;&nbsp; 2468 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.86%), 8.00%, 3/7/2028 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 8840 | &nbsp;&nbsp;&nbsp;&nbsp; 9303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 2.01%, 9/22/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 663 | &nbsp;&nbsp;&nbsp;&nbsp; 642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.65%), 4.60%, 12/17/2030 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 6541 | &nbsp;&nbsp;&nbsp;&nbsp; 6183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.52%), 5.73%, 5/17/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1232 | &nbsp;&nbsp;&nbsp;&nbsp; 1296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.19%), 2.80%, 5/24/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1201 | &nbsp;&nbsp;&nbsp;&nbsp; 1099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.19%), 6.95%, 3/11/2034 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2380 | &nbsp;&nbsp;&nbsp;&nbsp; 2506 |
| &nbsp;&nbsp;&nbsp; INEOS Quattro Finance 2 plc 9.63%, 3/15/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1867 | &nbsp;&nbsp;&nbsp;&nbsp; 1481 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.82%), 6.75%, 6/27/2026 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 5231 | &nbsp;&nbsp;&nbsp;&nbsp; 5272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.38%), 5.46%, 1/5/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 318 | &nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.15%), 6.75%, 9/27/2031 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 5.68%, 1/5/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp; 2201 |
| &nbsp;&nbsp;&nbsp; Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 6.56%, 10/18/2027 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 7/29/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 663 | &nbsp;&nbsp;&nbsp;&nbsp; 682 |
| &nbsp;&nbsp;&nbsp; NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.10%), 4.60%, 6/28/2031 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4432 | &nbsp;&nbsp;&nbsp;&nbsp; 4121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.75%), 8.13%, 11/10/2033 (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 3952 | &nbsp;&nbsp;&nbsp;&nbsp; 4467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.78%, 3/1/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3080 | &nbsp;&nbsp;&nbsp;&nbsp; 3252 |
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings plc (SOFR + 1.22%), 2.47%, 1/11/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp; Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.98%), 7.75%, 8/15/2027 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 3866 | &nbsp;&nbsp;&nbsp;&nbsp; 4017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.85%), 6.75%, 2/8/2028 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.57%), 7.88%, 3/8/2030 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.87%), 7.00%, 11/14/2035 (d) (e) (f) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1714 | &nbsp;&nbsp;&nbsp;&nbsp; 1764 |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance plc 5.50%, 5/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4295 | &nbsp;&nbsp;&nbsp;&nbsp; 4236 |
| &nbsp;&nbsp;&nbsp; Vodafone Group plc (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.77%), 4.13%, 6/4/2081 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 6106 | &nbsp;&nbsp;&nbsp;&nbsp; 5746 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 73479 |
| **United States — 25.7%** | **United States — 25.7%** | **United States — 25.7%** |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd. 10.00%, 4/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5459 | &nbsp;&nbsp;&nbsp;&nbsp; 5602 |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 985 | &nbsp;&nbsp;&nbsp;&nbsp; 1014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/21/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3091 | &nbsp;&nbsp;&nbsp;&nbsp; 3054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/15/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1443 | &nbsp;&nbsp;&nbsp;&nbsp; 1385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 3/15/2033 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 653 | &nbsp;&nbsp;&nbsp;&nbsp; 645 |
| &nbsp;&nbsp;&nbsp; Accendra Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/31/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4362 | &nbsp;&nbsp;&nbsp;&nbsp; 2870 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 4/1/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2204 | &nbsp;&nbsp;&nbsp;&nbsp; 1240 |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. 4.25%, 3/15/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5180 | &nbsp;&nbsp;&nbsp;&nbsp; 4796 |
| &nbsp;&nbsp;&nbsp; Acushnet Co. 5.63%, 12/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 430 | &nbsp;&nbsp;&nbsp;&nbsp; 434 |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 4/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3066 | &nbsp;&nbsp;&nbsp;&nbsp; 3136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 4/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5839 | &nbsp;&nbsp;&nbsp;&nbsp; 6118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 2/15/2033 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2152 | &nbsp;&nbsp;&nbsp;&nbsp; 2235 |
| &nbsp;&nbsp;&nbsp; ADT Security Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4070 | &nbsp;&nbsp;&nbsp;&nbsp; 3965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6428 | &nbsp;&nbsp;&nbsp;&nbsp; 6225 |
| &nbsp;&nbsp;&nbsp; AECOM 6.00%, 8/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2306 | &nbsp;&nbsp;&nbsp;&nbsp; 2362 |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP 7.50%, 10/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 892 | &nbsp;&nbsp;&nbsp;&nbsp; 939 |
| &nbsp;&nbsp;&nbsp; Air Lease Corp. 3.75%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6975 | &nbsp;&nbsp;&nbsp;&nbsp; 6970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3141 | &nbsp;&nbsp;&nbsp;&nbsp; 3142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5758 | &nbsp;&nbsp;&nbsp;&nbsp; 5526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 2/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 839 | &nbsp;&nbsp;&nbsp;&nbsp; 828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 3/31/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 659 | &nbsp;&nbsp;&nbsp;&nbsp; 660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 3/31/2032 (d) (k) | &nbsp;&nbsp;&nbsp;&nbsp; 3147 | &nbsp;&nbsp;&nbsp;&nbsp; 3144 |
| &nbsp;&nbsp;&nbsp; Alcoa Nederland Holding BV 7.13%, 3/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4251 | &nbsp;&nbsp;&nbsp;&nbsp; 4497 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 4/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 12/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 3/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp; Alliant Energy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.08%), 5.75%, 4/1/2056 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 890 | &nbsp;&nbsp;&nbsp;&nbsp; 884 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC 4.63%, 6/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1936 | &nbsp;&nbsp;&nbsp;&nbsp; 1913 |
| &nbsp;&nbsp;&nbsp; Allison Transmission, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/1/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3337 | &nbsp;&nbsp;&nbsp;&nbsp; 3337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8169 | &nbsp;&nbsp;&nbsp;&nbsp; 8272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/30/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 777 | &nbsp;&nbsp;&nbsp;&nbsp; 788 |
| &nbsp;&nbsp;&nbsp; Allstate Corp. (The) (3-MONTH SOFR + 2.12%), 6.50%, 5/15/2057 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2669 | &nbsp;&nbsp;&nbsp;&nbsp; 2805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc. Series C, (US Treasury Yield Curve Rate T Note Constant Maturity 7 Year + 3.48%), 4.70%, <br> 5/15/2028 (e) (g) (h)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5049 | &nbsp;&nbsp;&nbsp;&nbsp; 4840 |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 2/14/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/6/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp; Alumina Pty. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 3/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1222 | &nbsp;&nbsp;&nbsp;&nbsp; 1261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 9/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1414 | &nbsp;&nbsp;&nbsp;&nbsp; 1470 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/20/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1349 | &nbsp;&nbsp;&nbsp;&nbsp; 1350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/20/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9798 | &nbsp;&nbsp;&nbsp;&nbsp; 9900 |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. 6.88%, 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3337 | &nbsp;&nbsp;&nbsp;&nbsp; 3341 |
| &nbsp;&nbsp;&nbsp; American Builders & Contractors Supply Co., Inc. 4.00%, 1/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2810 | &nbsp;&nbsp;&nbsp;&nbsp; 2774 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.85%), 3.55%, 9/15/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 3302 | &nbsp;&nbsp;&nbsp;&nbsp; 3267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.97%), 5.39%, 7/28/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.93%), 5.04%, 7/26/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 209 | &nbsp;&nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp; American Honda Finance Corp. (SOFR + 0.87%), 4.53%, 7/9/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp; American Tower Corp., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 1/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/31/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 955 | &nbsp;&nbsp;&nbsp;&nbsp; 978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1154 | &nbsp;&nbsp;&nbsp;&nbsp; 1162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 6/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1960 | &nbsp;&nbsp;&nbsp;&nbsp; 2027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 6/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1372 | &nbsp;&nbsp;&nbsp;&nbsp; 1470 |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. 5.88%, 10/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1463 | &nbsp;&nbsp;&nbsp;&nbsp; 1491 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4280 | &nbsp;&nbsp;&nbsp;&nbsp; 4282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4232 | &nbsp;&nbsp;&nbsp;&nbsp; 4239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1429 | &nbsp;&nbsp;&nbsp;&nbsp; 1445 |
| &nbsp;&nbsp;&nbsp; Antero Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 2/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1744 | &nbsp;&nbsp;&nbsp;&nbsp; 1770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1432 | &nbsp;&nbsp;&nbsp;&nbsp; 1452 |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 4/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5203 | &nbsp;&nbsp;&nbsp;&nbsp; 4962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 4/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2019 | &nbsp;&nbsp;&nbsp;&nbsp; 2204 |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/15/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2586 | &nbsp;&nbsp;&nbsp;&nbsp; 2515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1997 |
| &nbsp;&nbsp;&nbsp; Aramark Services, Inc. 5.00%, 2/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5180 | &nbsp;&nbsp;&nbsp;&nbsp; 5177 |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1690 | &nbsp;&nbsp;&nbsp;&nbsp; 1662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 619 | &nbsp;&nbsp;&nbsp;&nbsp; 605 |
| &nbsp;&nbsp;&nbsp; Archrock Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2631 | &nbsp;&nbsp;&nbsp;&nbsp; 2638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1609 | &nbsp;&nbsp;&nbsp;&nbsp; 1668 |
| &nbsp;&nbsp;&nbsp; Archrock Services LP 6.00%, 2/1/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 670 | &nbsp;&nbsp;&nbsp;&nbsp; 669 |
| &nbsp;&nbsp;&nbsp; Ardagh Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 12/1/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3658 | &nbsp;&nbsp;&nbsp;&nbsp; 3953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.00% (Blend (Cash 5.50% + PIK 6.50%)), 12/1/2030 (a) (d) (j) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3785 | &nbsp;&nbsp;&nbsp;&nbsp; 3521 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 402 | &nbsp;&nbsp;&nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4259 | &nbsp;&nbsp;&nbsp;&nbsp; 4194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/30/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1067 | &nbsp;&nbsp;&nbsp;&nbsp; 1074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1412 | &nbsp;&nbsp;&nbsp;&nbsp; 1463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1532 | &nbsp;&nbsp;&nbsp;&nbsp; 1586 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Asurion LLC and Asurion Co-Issuer, Inc. 8.00%, 12/31/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2657 | &nbsp;&nbsp;&nbsp;&nbsp; 2776 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 11/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp; 477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc. 6.50%, 2/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2415 | &nbsp;&nbsp;&nbsp;&nbsp; 2342 |
| &nbsp;&nbsp;&nbsp; Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 5/8/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp;&nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 8/27/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 212 | &nbsp;&nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp; Athene Holding Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.58%), 6.88%, 6/28/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 4320 | &nbsp;&nbsp;&nbsp;&nbsp; 4328 |
| &nbsp;&nbsp;&nbsp; ATI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1861 | &nbsp;&nbsp;&nbsp;&nbsp; 1864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/1/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1655 | &nbsp;&nbsp;&nbsp;&nbsp; 1650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1820 | &nbsp;&nbsp;&nbsp;&nbsp; 1908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1240 | &nbsp;&nbsp;&nbsp;&nbsp; 1242 |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc. 4.63%, 7/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6986 | &nbsp;&nbsp;&nbsp;&nbsp; 6932 |
| &nbsp;&nbsp;&nbsp; Avient Corp. 7.13%, 8/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp; 1152 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3960 | &nbsp;&nbsp;&nbsp;&nbsp; 3962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5629 | &nbsp;&nbsp;&nbsp;&nbsp; 5511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2616 | &nbsp;&nbsp;&nbsp;&nbsp; 2551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3781 | &nbsp;&nbsp;&nbsp;&nbsp; 3913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 6/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2078 | &nbsp;&nbsp;&nbsp;&nbsp; 2138 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems Dutch Holding B BV 7.25%, 2/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 832 | &nbsp;&nbsp;&nbsp;&nbsp; 876 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4598 | &nbsp;&nbsp;&nbsp;&nbsp; 4589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4455 | &nbsp;&nbsp;&nbsp;&nbsp; 4288 |
| &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 3/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 479 | &nbsp;&nbsp;&nbsp;&nbsp; 492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 680 | &nbsp;&nbsp;&nbsp;&nbsp; 705 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series DD, (3-MONTH CME TERM SOFR + 4.81%), 6.30%, 3/10/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4459 | &nbsp;&nbsp;&nbsp;&nbsp; 4471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series RR, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.76%), 4.38%, 1/27/2027 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2627 | &nbsp;&nbsp;&nbsp;&nbsp; 2613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series N, (SOFR + 0.91%), 1.66%, 3/11/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series TT, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.23%), 6.13%, 4/27/2027 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2778 | &nbsp;&nbsp;&nbsp;&nbsp; 2814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series FF, (3-MONTH CME TERM SOFR + 3.19%), 5.88%, 3/15/2028 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4378 | &nbsp;&nbsp;&nbsp;&nbsp; 4432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.63%), 3.59%, 7/21/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 6.63%, 5/1/2030 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4600 | &nbsp;&nbsp;&nbsp;&nbsp; 4779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.44%), 3.19%, 7/23/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp;&nbsp;&nbsp; 449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.35%), 6.25%, 7/26/2030 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4755 | &nbsp;&nbsp;&nbsp;&nbsp; 4840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 2.57%, 10/20/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 694 | &nbsp;&nbsp;&nbsp;&nbsp; 626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 4.57%, 4/27/2033 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp; 946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.65%), 5.47%, 1/23/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 673 | &nbsp;&nbsp;&nbsp;&nbsp; 698 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series F, (3-MONTH CME TERM SOFR + 3.39%), 4.63%, 9/20/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 6537 | &nbsp;&nbsp;&nbsp;&nbsp; 6512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.30%), 6.30%, 3/20/2030 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1362 | &nbsp;&nbsp;&nbsp;&nbsp; 1409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 2.07%), 5.83%, 10/25/2033 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 24 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 997 | &nbsp;&nbsp;&nbsp;&nbsp; 1008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 2162 | &nbsp;&nbsp;&nbsp;&nbsp; 2157 |
| &nbsp;&nbsp;&nbsp; Bausch + Lomb Corp. 8.38%, 10/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp;&nbsp; 777 |
| &nbsp;&nbsp;&nbsp; Bausch Health Americas, Inc. 8.50%, 1/31/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3952 | &nbsp;&nbsp;&nbsp;&nbsp; 3919 |
| &nbsp;&nbsp;&nbsp; Big River Steel LLC 6.63%, 1/31/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3183 | &nbsp;&nbsp;&nbsp;&nbsp; 3213 |
| &nbsp;&nbsp;&nbsp; Biogen, Inc. 5.05%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp; 834 |
| &nbsp;&nbsp;&nbsp; Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1985 | &nbsp;&nbsp;&nbsp;&nbsp; 1973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 977 | &nbsp;&nbsp;&nbsp;&nbsp; 994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5261 | &nbsp;&nbsp;&nbsp;&nbsp; 5466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 8/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1217 | &nbsp;&nbsp;&nbsp;&nbsp; 1243 |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/15/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1675 | &nbsp;&nbsp;&nbsp;&nbsp; 1677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 7/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1347 | &nbsp;&nbsp;&nbsp;&nbsp; 1404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 7/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1680 | &nbsp;&nbsp;&nbsp;&nbsp; 1781 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. 4.88%, 7/1/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 852 | &nbsp;&nbsp;&nbsp;&nbsp; 849 |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. 4.75%, 6/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 933 | &nbsp;&nbsp;&nbsp;&nbsp; 909 |
| &nbsp;&nbsp;&nbsp; Boyne USA, Inc. 4.75%, 5/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3600 | &nbsp;&nbsp;&nbsp;&nbsp; 3552 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc., 3.02%, 1/16/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.40%), 4.88%, 3/22/2030 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2196 | &nbsp;&nbsp;&nbsp;&nbsp; 2180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.15%), 6.45%, 12/1/2033 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1918 | &nbsp;&nbsp;&nbsp;&nbsp; 2036 |
| &nbsp;&nbsp;&nbsp; Brink's Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3785 | &nbsp;&nbsp;&nbsp;&nbsp; 3785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1032 | &nbsp;&nbsp;&nbsp;&nbsp; 1065 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 2/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 915 | &nbsp;&nbsp;&nbsp;&nbsp; 804 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; 228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4925 | &nbsp;&nbsp;&nbsp;&nbsp; 4904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 2/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 944 | &nbsp;&nbsp;&nbsp;&nbsp; 989 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 3/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1105 | &nbsp;&nbsp;&nbsp;&nbsp; 1101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2983 | &nbsp;&nbsp;&nbsp;&nbsp; 2843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 6/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3340 | &nbsp;&nbsp;&nbsp;&nbsp; 3442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/1/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp; 2276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1149 | &nbsp;&nbsp;&nbsp;&nbsp; 1207 |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/30/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2624 | &nbsp;&nbsp;&nbsp;&nbsp; 2585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4624 | &nbsp;&nbsp;&nbsp;&nbsp; 4529 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2400 | &nbsp;&nbsp;&nbsp;&nbsp; 2305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 2/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3385 | &nbsp;&nbsp;&nbsp;&nbsp; 3495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6083 | &nbsp;&nbsp;&nbsp;&nbsp; 6220 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. Series M, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 3.95%, <br> 9/1/2026 (e) (g) (h)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5396 | &nbsp;&nbsp;&nbsp;&nbsp; 5356 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. 4.70%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp; Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1016 | &nbsp;&nbsp;&nbsp;&nbsp; 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 8/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1239 | &nbsp;&nbsp;&nbsp;&nbsp; 1297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp;&nbsp;&nbsp; 1802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1740 | &nbsp;&nbsp;&nbsp;&nbsp; 1799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5631 | &nbsp;&nbsp;&nbsp;&nbsp; 5783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 2/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4243 | &nbsp;&nbsp;&nbsp;&nbsp; 4365 |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. 5.63%, 3/1/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 711 | &nbsp;&nbsp;&nbsp;&nbsp; 722 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 5/1/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1877 | &nbsp;&nbsp;&nbsp;&nbsp; 1878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 15316 | &nbsp;&nbsp;&nbsp;&nbsp; 15232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 35845 | &nbsp;&nbsp;&nbsp;&nbsp; 34243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 19087 | &nbsp;&nbsp;&nbsp;&nbsp; 17939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 16476 | &nbsp;&nbsp;&nbsp;&nbsp; 15085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 3/1/2031 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6336 | &nbsp;&nbsp;&nbsp;&nbsp; 6517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2360 | &nbsp;&nbsp;&nbsp;&nbsp; 2156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1330 | &nbsp;&nbsp;&nbsp;&nbsp; 1194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 2/1/2033 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2109 | &nbsp;&nbsp;&nbsp;&nbsp; 2129 |
| &nbsp;&nbsp;&nbsp; CD&R Smokey Buyer, Inc. 9.50%, 10/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3398 | &nbsp;&nbsp;&nbsp;&nbsp; 2998 |
| &nbsp;&nbsp;&nbsp; Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1641 | &nbsp;&nbsp;&nbsp;&nbsp; 1679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 2/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6664 | &nbsp;&nbsp;&nbsp;&nbsp; 6781 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. 2.70%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1125 | &nbsp;&nbsp;&nbsp;&nbsp; 1037 |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6555 | &nbsp;&nbsp;&nbsp;&nbsp; 6550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3404 | &nbsp;&nbsp;&nbsp;&nbsp; 3268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The) Series H, (US Treasury Yield Curve Rate T Note Constant Maturity 10 Year + 3.08%), 4.00%, <br> 12/1/2030 (e) (g) (h)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 11818 | &nbsp;&nbsp;&nbsp;&nbsp; 11087 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 1/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5498 | &nbsp;&nbsp;&nbsp;&nbsp; 5720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 1/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 611 | &nbsp;&nbsp;&nbsp;&nbsp; 643 |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 2/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 610 | &nbsp;&nbsp;&nbsp;&nbsp; 642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 6/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp; 578 |
| &nbsp;&nbsp;&nbsp; Chemours Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8584 | &nbsp;&nbsp;&nbsp;&nbsp; 8513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 1/15/2033 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1510 | &nbsp;&nbsp;&nbsp;&nbsp; 1514 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 1/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 497 | &nbsp;&nbsp;&nbsp;&nbsp; 459 |
| &nbsp;&nbsp;&nbsp; Chevron Phillips Chemical Co. LLC 3.40%, 12/1/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2299 | &nbsp;&nbsp;&nbsp;&nbsp; 2344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/15/2033 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1704 | &nbsp;&nbsp;&nbsp;&nbsp; 1766 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Ciena Corp. 4.00%, 1/31/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2329 | &nbsp;&nbsp;&nbsp;&nbsp; 2246 |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2060 | &nbsp;&nbsp;&nbsp;&nbsp; 2058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 8/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1420 | &nbsp;&nbsp;&nbsp;&nbsp; 1469 |
| &nbsp;&nbsp;&nbsp; Cipher Compute LLC 7.13%, 11/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2553 | &nbsp;&nbsp;&nbsp;&nbsp; 2631 |
| &nbsp;&nbsp;&nbsp; Citibank NA 4.93%, 8/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series T, (3-MONTH CME TERM SOFR + 4.78%), 6.25%, 8/15/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4682 | &nbsp;&nbsp;&nbsp;&nbsp; 4710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series CC, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.69%), 7.13%, 8/15/2029 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4928 | &nbsp;&nbsp;&nbsp;&nbsp; 5100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series EE, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.57%), 6.75%, 2/15/2030 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1880 | &nbsp;&nbsp;&nbsp;&nbsp; 1917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series FF, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.73%), 6.95%, 2/15/2030 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 3789 | &nbsp;&nbsp;&nbsp;&nbsp; 3903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series GG, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.89%), 6.88%, 8/15/2030 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp; 1144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.00%), 6.63%, 2/15/2031 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 5502 | &nbsp;&nbsp;&nbsp;&nbsp; 5603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), 2.57%, 6/3/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 972 | &nbsp;&nbsp;&nbsp;&nbsp; 901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.52%, 11/3/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.35%), 3.06%, 1/25/2033 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 850 | &nbsp;&nbsp;&nbsp;&nbsp; 778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.94%), 3.79%, 3/17/2033 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 913 | &nbsp;&nbsp;&nbsp;&nbsp; 869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series DD, (US Treasury Yield Curve Rate T Note Constant Maturity 10 Year + 2.76%), 7.00%, 8/15/2034 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 6264 | &nbsp;&nbsp;&nbsp;&nbsp; 6559 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4091 | &nbsp;&nbsp;&nbsp;&nbsp; 4186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 2/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2326 | &nbsp;&nbsp;&nbsp;&nbsp; 2433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2461 | &nbsp;&nbsp;&nbsp;&nbsp; 2547 |
| &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 7/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2416 | &nbsp;&nbsp;&nbsp;&nbsp; 2280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 7/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2803 | &nbsp;&nbsp;&nbsp;&nbsp; 2409 |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc. 5.75%, 10/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1831 | &nbsp;&nbsp;&nbsp;&nbsp; 1871 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 4/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4871 | &nbsp;&nbsp;&nbsp;&nbsp; 4873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7562 | &nbsp;&nbsp;&nbsp;&nbsp; 7483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 2/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7189 | &nbsp;&nbsp;&nbsp;&nbsp; 7497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 3/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3513 | &nbsp;&nbsp;&nbsp;&nbsp; 3733 |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 3/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3037 | &nbsp;&nbsp;&nbsp;&nbsp; 2988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2479 | &nbsp;&nbsp;&nbsp;&nbsp; 2576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2612 | &nbsp;&nbsp;&nbsp;&nbsp; 2671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 3/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1772 | &nbsp;&nbsp;&nbsp;&nbsp; 1699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 9/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1528 | &nbsp;&nbsp;&nbsp;&nbsp; 1612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 1/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 887 | &nbsp;&nbsp;&nbsp;&nbsp; 929 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4910 | &nbsp;&nbsp;&nbsp;&nbsp; 4948 |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.12%), 4.75%, 6/1/2050 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3823 | &nbsp;&nbsp;&nbsp;&nbsp; 3776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.96%), 6.50%, 6/1/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp;&nbsp; 1136 |
| &nbsp;&nbsp;&nbsp; CNX Midstream Partners LP 4.75%, 4/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 828 | &nbsp;&nbsp;&nbsp;&nbsp; 804 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp. 7.38%, 1/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2371 | &nbsp;&nbsp;&nbsp;&nbsp; 2456 |
| &nbsp;&nbsp;&nbsp; Coherent Corp. 5.00%, 12/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9100 | &nbsp;&nbsp;&nbsp;&nbsp; 9062 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1548 | &nbsp;&nbsp;&nbsp;&nbsp; 1478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1710 | &nbsp;&nbsp;&nbsp;&nbsp; 1511 |
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Operating Co. LLC 5.93%, 8/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1195 | &nbsp;&nbsp;&nbsp;&nbsp; 1266 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. 1.95%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 865 | &nbsp;&nbsp;&nbsp;&nbsp; 773 |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. 5.75%, 11/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1868 | &nbsp;&nbsp;&nbsp;&nbsp; 1899 |
| &nbsp;&nbsp;&nbsp; Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1803 | &nbsp;&nbsp;&nbsp;&nbsp; 1798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 4/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp; 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 5/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8407 | &nbsp;&nbsp;&nbsp;&nbsp; 7927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4205 | &nbsp;&nbsp;&nbsp;&nbsp; 3772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.88%, 1/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2568 | &nbsp;&nbsp;&nbsp;&nbsp; 2765 |
| &nbsp;&nbsp;&nbsp; Compass Minerals International, Inc. 8.00%, 7/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1243 | &nbsp;&nbsp;&nbsp;&nbsp; 1318 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7908 | &nbsp;&nbsp;&nbsp;&nbsp; 7958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2382 | &nbsp;&nbsp;&nbsp;&nbsp; 2324 |
| &nbsp;&nbsp;&nbsp; Concentra Health Services, Inc. 6.88%, 7/15/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1101 | &nbsp;&nbsp;&nbsp;&nbsp; 1153 |
| &nbsp;&nbsp;&nbsp; Conduent Business Services LLC 6.00%, 11/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4030 | &nbsp;&nbsp;&nbsp;&nbsp; 3268 |
| &nbsp;&nbsp;&nbsp; Connect Holding II LLC 10.50%, 4/3/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4118 | &nbsp;&nbsp;&nbsp;&nbsp; 4042 |
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 2/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1062 | &nbsp;&nbsp;&nbsp;&nbsp; 1062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2242 | &nbsp;&nbsp;&nbsp;&nbsp; 2273 |
| &nbsp;&nbsp;&nbsp; Cooper-Standard Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.50% (Cash), 3/31/2027 (d) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 13330 | &nbsp;&nbsp;&nbsp;&nbsp; 13749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63% (Cash), 5/15/2027 (a) (d) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 8013 | &nbsp;&nbsp;&nbsp;&nbsp; 7879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corebridge Financial, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.18%), 6.88%, 12/1/2030 (e) <br> (f) (g) (h)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9637 | &nbsp;&nbsp;&nbsp;&nbsp; 10013 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc. 8.25%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4255 | &nbsp;&nbsp;&nbsp;&nbsp; 4457 |
| &nbsp;&nbsp;&nbsp; CoreWeave, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 6/1/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3416 | &nbsp;&nbsp;&nbsp;&nbsp; 3363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 2/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3729 | &nbsp;&nbsp;&nbsp;&nbsp; 3626 |
| &nbsp;&nbsp;&nbsp; Coty, Inc. 4.75%, 1/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp; 871 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 2/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5176 | &nbsp;&nbsp;&nbsp;&nbsp; 5325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 4/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4309 | &nbsp;&nbsp;&nbsp;&nbsp; 4274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 4/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4480 | &nbsp;&nbsp;&nbsp;&nbsp; 4457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 1/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3238 | &nbsp;&nbsp;&nbsp;&nbsp; 3134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 1/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2004 | &nbsp;&nbsp;&nbsp;&nbsp; 2023 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1035 | &nbsp;&nbsp;&nbsp;&nbsp; 1053 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 2/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 830 | &nbsp;&nbsp;&nbsp;&nbsp; 619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.25%, 5/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 876 | &nbsp;&nbsp;&nbsp;&nbsp; 702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.75%, 1/31/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 691 | &nbsp;&nbsp;&nbsp;&nbsp; 504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10417 | &nbsp;&nbsp;&nbsp;&nbsp; 6670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1735 | &nbsp;&nbsp;&nbsp;&nbsp; 1034 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2518 | &nbsp;&nbsp;&nbsp;&nbsp; 1527 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8585 | &nbsp;&nbsp;&nbsp;&nbsp; 8261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6221 | &nbsp;&nbsp;&nbsp;&nbsp; 5706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 9/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1611 | &nbsp;&nbsp;&nbsp;&nbsp; 1659 |
| &nbsp;&nbsp;&nbsp; Diamond Foreign Asset Co. 8.50%, 10/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2452 | &nbsp;&nbsp;&nbsp;&nbsp; 2607 |
| &nbsp;&nbsp;&nbsp; Diebold Nixdorf, Inc. 7.75%, 3/31/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1924 | &nbsp;&nbsp;&nbsp;&nbsp; 2038 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC 5.88%, 8/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4210 | &nbsp;&nbsp;&nbsp;&nbsp; 4231 |
| &nbsp;&nbsp;&nbsp; Discovery Communications LLC 5.00%, 9/20/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 830 | &nbsp;&nbsp;&nbsp;&nbsp; 641 |
| &nbsp;&nbsp;&nbsp; DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10816 | &nbsp;&nbsp;&nbsp;&nbsp; 10590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/1/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10065 | &nbsp;&nbsp;&nbsp;&nbsp; 9782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2450 | &nbsp;&nbsp;&nbsp;&nbsp; 2371 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp. 11.75%, 11/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 12420 | &nbsp;&nbsp;&nbsp;&nbsp; 12854 |
| &nbsp;&nbsp;&nbsp; DOC DR LLC, REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 11/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.20%), 4.35%, 1/15/2027 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 3390 | &nbsp;&nbsp;&nbsp;&nbsp; 3366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.51%), 7.00%, 6/1/2054 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1144 | &nbsp;&nbsp;&nbsp;&nbsp; 1237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.39%), 6.88%, 2/1/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1754 | &nbsp;&nbsp;&nbsp;&nbsp; 1827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.21%), 6.63%, 5/15/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2345 | &nbsp;&nbsp;&nbsp;&nbsp; 2411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.26%), 6.00%, 2/15/2056 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3945 | &nbsp;&nbsp;&nbsp;&nbsp; 3988 |
| &nbsp;&nbsp;&nbsp; Dornoch Debt Merger Sub, Inc. 6.63%, 10/15/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2736 | &nbsp;&nbsp;&nbsp;&nbsp; 2436 |
| &nbsp;&nbsp;&nbsp; DT Midstream, Inc. 4.13%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4705 | &nbsp;&nbsp;&nbsp;&nbsp; 4651 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.59%), 6.45%, 9/1/2054 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3268 | &nbsp;&nbsp;&nbsp;&nbsp; 3419 |
| &nbsp;&nbsp;&nbsp; Dycom Industries, Inc. 4.50%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5847 | &nbsp;&nbsp;&nbsp;&nbsp; 5756 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 11/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5220 | &nbsp;&nbsp;&nbsp;&nbsp; 5722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75% (Cash), 11/30/2030 (j) | &nbsp;&nbsp;&nbsp;&nbsp; 2844 | &nbsp;&nbsp;&nbsp;&nbsp; 2894 |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 6/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2997 | &nbsp;&nbsp;&nbsp;&nbsp; 2998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2707 | &nbsp;&nbsp;&nbsp;&nbsp; 2595 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc. 6.65%, 8/28/2028 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2240 | &nbsp;&nbsp;&nbsp;&nbsp; 2334 |
| &nbsp;&nbsp;&nbsp; Embarq LLC 8.00%, 6/1/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3120 | &nbsp;&nbsp;&nbsp;&nbsp; 1217 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 12/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8772 | &nbsp;&nbsp;&nbsp;&nbsp; 9080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 7/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1222 | &nbsp;&nbsp;&nbsp;&nbsp; 1282 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2431 | &nbsp;&nbsp;&nbsp;&nbsp; 2420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 4515 | &nbsp;&nbsp;&nbsp;&nbsp; 4419 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings LP 8.50%, 4/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 952 |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6100 | &nbsp;&nbsp;&nbsp;&nbsp; 6035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 3/31/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5141 | &nbsp;&nbsp;&nbsp;&nbsp; 4938 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 12/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp; 460 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.02%), 8.00%, 5/15/2054 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 636 | &nbsp;&nbsp;&nbsp;&nbsp; 680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 6.50%, 2/15/2056 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 7575 | &nbsp;&nbsp;&nbsp;&nbsp; 7575 |
| &nbsp;&nbsp;&nbsp; Enpro, Inc. 6.13%, 6/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 926 | &nbsp;&nbsp;&nbsp;&nbsp; 952 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1501 | &nbsp;&nbsp;&nbsp;&nbsp; 1490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4756 | &nbsp;&nbsp;&nbsp;&nbsp; 4752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 5/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2864 | &nbsp;&nbsp;&nbsp;&nbsp; 2760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 6/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7567 | &nbsp;&nbsp;&nbsp;&nbsp; 7721 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.67%), 7.13%, 12/1/2054 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1531 | &nbsp;&nbsp;&nbsp;&nbsp; 1603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.18%), 5.88%, 6/15/2056 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2945 | &nbsp;&nbsp;&nbsp;&nbsp; 2948 |
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC Series E, (3-MONTH CME TERM SOFR + 3.29%), 5.25%, 8/16/2077 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3227 | &nbsp;&nbsp;&nbsp;&nbsp; 3214 |
| &nbsp;&nbsp;&nbsp; EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2365 | &nbsp;&nbsp;&nbsp;&nbsp; 2603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5576 | &nbsp;&nbsp;&nbsp;&nbsp; 5601 |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 5/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6258 | &nbsp;&nbsp;&nbsp;&nbsp; 6540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 5/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 780 | &nbsp;&nbsp;&nbsp;&nbsp; 834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 3/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1271 | &nbsp;&nbsp;&nbsp;&nbsp; 1341 |
| &nbsp;&nbsp;&nbsp; Equitable Financial Life Global Funding 4.88%, 11/19/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp; Esab Corp. 6.25%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1862 | &nbsp;&nbsp;&nbsp;&nbsp; 1913 |
| &nbsp;&nbsp;&nbsp; Escrow Rite Aid 0.00%, 12/31/2049 ‡ (m) | &nbsp;&nbsp;&nbsp;&nbsp; 968 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; EUSHI Finance, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.51%), 6.25%, 4/1/2056 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2815 | &nbsp;&nbsp;&nbsp;&nbsp; 2827 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 575 | &nbsp;&nbsp;&nbsp;&nbsp; 575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 11991 | &nbsp;&nbsp;&nbsp;&nbsp; 12055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 918 | &nbsp;&nbsp;&nbsp;&nbsp; 910 |
| &nbsp;&nbsp;&nbsp; F&G Global Funding 5.88%, 6/10/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 6/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1230 | &nbsp;&nbsp;&nbsp;&nbsp; 1210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 5/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1452 | &nbsp;&nbsp;&nbsp;&nbsp; 1479 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 2.19%), 6.36%, 10/27/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 301 | &nbsp;&nbsp;&nbsp;&nbsp; 313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.84%), 5.63%, 1/29/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 398 | &nbsp;&nbsp;&nbsp;&nbsp; 417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, (3-MONTH CME TERM SOFR + 3.29%), 6.97%, 3/8/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1946 | &nbsp;&nbsp;&nbsp;&nbsp; 1952 |
| &nbsp;&nbsp;&nbsp; Flash Compute LLC 7.25%, 12/31/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1723 | &nbsp;&nbsp;&nbsp;&nbsp; 1729 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 3/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1712 | &nbsp;&nbsp;&nbsp;&nbsp; 1715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 6/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1864 | &nbsp;&nbsp;&nbsp;&nbsp; 1878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 8/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2049 | &nbsp;&nbsp;&nbsp;&nbsp; 2033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 1/9/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4668 | &nbsp;&nbsp;&nbsp;&nbsp; 4665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1605 | &nbsp;&nbsp;&nbsp;&nbsp; 1597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 2/16/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp;&nbsp;&nbsp; 1408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 5/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1944 | &nbsp;&nbsp;&nbsp;&nbsp; 2034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 2/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp; 834 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 6/10/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 896 | &nbsp;&nbsp;&nbsp;&nbsp; 964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 9/5/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp;&nbsp;&nbsp; 1167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/13/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6739 | &nbsp;&nbsp;&nbsp;&nbsp; 6410 |
| &nbsp;&nbsp;&nbsp; Foundry JV Holdco LLC 5.50%, 1/25/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9638 | &nbsp;&nbsp;&nbsp;&nbsp; 9638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1280 | &nbsp;&nbsp;&nbsp;&nbsp; 1284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 5/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2033 | &nbsp;&nbsp;&nbsp;&nbsp; 2096 |
| &nbsp;&nbsp;&nbsp; Gap, Inc. (The) 3.63%, 10/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2615 | &nbsp;&nbsp;&nbsp;&nbsp; 2487 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 7/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1975 | &nbsp;&nbsp;&nbsp;&nbsp; 1970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1138 | &nbsp;&nbsp;&nbsp;&nbsp; 1099 |
| &nbsp;&nbsp;&nbsp; Gates Corp. 6.88%, 7/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 873 | &nbsp;&nbsp;&nbsp;&nbsp; 908 |
| &nbsp;&nbsp;&nbsp; GCI LLC 4.75%, 10/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8852 | &nbsp;&nbsp;&nbsp;&nbsp; 8669 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 4/6/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 490 | &nbsp;&nbsp;&nbsp;&nbsp; 491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 1/8/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 435 | &nbsp;&nbsp;&nbsp;&nbsp; 392 |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3521 | &nbsp;&nbsp;&nbsp;&nbsp; 3536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 4/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2410 | &nbsp;&nbsp;&nbsp;&nbsp; 2536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 759 | &nbsp;&nbsp;&nbsp;&nbsp; 792 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3023 | &nbsp;&nbsp;&nbsp;&nbsp; 3161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.25%, 4/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 471 | &nbsp;&nbsp;&nbsp;&nbsp; 514 |
| &nbsp;&nbsp;&nbsp; GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3832 | &nbsp;&nbsp;&nbsp;&nbsp; 3771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2745 | &nbsp;&nbsp;&nbsp;&nbsp; 2727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4377 | &nbsp;&nbsp;&nbsp;&nbsp; 4579 |
| &nbsp;&nbsp;&nbsp; Global Infrastructure Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 6/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3005 | &nbsp;&nbsp;&nbsp;&nbsp; 3011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2995 | &nbsp;&nbsp;&nbsp;&nbsp; 3208 |
| &nbsp;&nbsp;&nbsp; Global Medical Response, Inc. 7.38%, 10/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1979 | &nbsp;&nbsp;&nbsp;&nbsp; 2046 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 640 | &nbsp;&nbsp;&nbsp;&nbsp; 640 |
| &nbsp;&nbsp;&nbsp; Goat Holdco LLC 6.75%, 2/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1182 | &nbsp;&nbsp;&nbsp;&nbsp; 1214 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Bank USA (SOFR + 0.77%), 4.44%, 3/18/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series S, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.85%), 7.19%, 2/10/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1490 | &nbsp;&nbsp;&nbsp;&nbsp; 1491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series R, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.22%), 7.56%, 2/10/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1809 | &nbsp;&nbsp;&nbsp;&nbsp; 1809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series T, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.97%), 3.80%, 5/10/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 5607 | &nbsp;&nbsp;&nbsp;&nbsp; 5576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series U, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.92%), 3.65%, 8/10/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1830 | &nbsp;&nbsp;&nbsp;&nbsp; 1814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.82%), 1.54%, 9/10/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 363 | &nbsp;&nbsp;&nbsp;&nbsp; 358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.91%), 1.95%, 10/21/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 19 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), 2.64%, 2/24/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), 3.62%, 3/15/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 983 | &nbsp;&nbsp;&nbsp;&nbsp; 979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series W, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 7.50%, 2/10/2029 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4001 | &nbsp;&nbsp;&nbsp;&nbsp; 4232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series X, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.81%), 7.50%, 5/10/2029 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 6484 | &nbsp;&nbsp;&nbsp;&nbsp; 6845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.46%), 6.85%, 2/10/2030 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4610 | &nbsp;&nbsp;&nbsp;&nbsp; 4804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 2.62%, 4/22/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 486 | &nbsp;&nbsp;&nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), 2.38%, 7/21/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.65%, 10/21/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Y, (US Treasury Yield Curve Rate T Note Constant Maturity 10 Year + 2.40%), 6.13%, 11/10/2034 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 5630 | &nbsp;&nbsp;&nbsp;&nbsp; 5736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.55%), 5.33%, 7/23/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.02%, 10/23/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1805 | &nbsp;&nbsp;&nbsp;&nbsp; 1806 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5452 | &nbsp;&nbsp;&nbsp;&nbsp; 5339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2872 | &nbsp;&nbsp;&nbsp;&nbsp; 2932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1129 | &nbsp;&nbsp;&nbsp;&nbsp; 1075 |
| &nbsp;&nbsp;&nbsp; Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 7/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7110 | &nbsp;&nbsp;&nbsp;&nbsp; 7637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3240 | &nbsp;&nbsp;&nbsp;&nbsp; 2501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1274 | &nbsp;&nbsp;&nbsp;&nbsp; 946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 8/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4787 | &nbsp;&nbsp;&nbsp;&nbsp; 4901 |
| &nbsp;&nbsp;&nbsp; Griffon Corp. 5.75%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4655 | &nbsp;&nbsp;&nbsp;&nbsp; 4654 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 8/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1211 | &nbsp;&nbsp;&nbsp;&nbsp; 1184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 1/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1127 | &nbsp;&nbsp;&nbsp;&nbsp; 1157 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Operating Corp. 6.75%, 9/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2718 | &nbsp;&nbsp;&nbsp;&nbsp; 2803 |
| &nbsp;&nbsp;&nbsp; Harvest Midstream I LP 7.50%, 5/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1581 | &nbsp;&nbsp;&nbsp;&nbsp; 1651 |
| &nbsp;&nbsp;&nbsp; HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1058 | &nbsp;&nbsp;&nbsp;&nbsp; 948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 4/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 623 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2158 | &nbsp;&nbsp;&nbsp;&nbsp; 2233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 6/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4092 | &nbsp;&nbsp;&nbsp;&nbsp; 4295 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/1/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1487 | &nbsp;&nbsp;&nbsp;&nbsp; 1404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.63%, 7/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5580 | &nbsp;&nbsp;&nbsp;&nbsp; 5617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8062 | &nbsp;&nbsp;&nbsp;&nbsp; 5311 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The), Escrow |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/2022 ‡ (m) | &nbsp;&nbsp;&nbsp;&nbsp; 1106 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2024 ‡ (d) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 11828 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 8/1/2026 ‡ (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 5505 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2028 ‡ (m) | &nbsp;&nbsp;&nbsp;&nbsp; 5450 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 772 | &nbsp;&nbsp;&nbsp;&nbsp; 787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1678 | &nbsp;&nbsp;&nbsp;&nbsp; 1737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2578 | &nbsp;&nbsp;&nbsp;&nbsp; 2518 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 183 | &nbsp;&nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1701 | &nbsp;&nbsp;&nbsp;&nbsp; 1674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1415 | &nbsp;&nbsp;&nbsp;&nbsp; 1357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 5/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 527 | &nbsp;&nbsp;&nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp; Hillenbrand, Inc. 6.25%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 769 | &nbsp;&nbsp;&nbsp;&nbsp; 776 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 4/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1194 | &nbsp;&nbsp;&nbsp;&nbsp; 1222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 5/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1565 | &nbsp;&nbsp;&nbsp;&nbsp; 1523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1393 | &nbsp;&nbsp;&nbsp;&nbsp; 1396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 4/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1129 | &nbsp;&nbsp;&nbsp;&nbsp; 1166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2550 | &nbsp;&nbsp;&nbsp;&nbsp; 2617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5627 | &nbsp;&nbsp;&nbsp;&nbsp; 5733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 3/31/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 686 | &nbsp;&nbsp;&nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp; Hologic, Inc. 3.25%, 2/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4372 | &nbsp;&nbsp;&nbsp;&nbsp; 4356 |
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 7/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2177 | &nbsp;&nbsp;&nbsp;&nbsp; 2300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3427 | &nbsp;&nbsp;&nbsp;&nbsp; 3517 |
| &nbsp;&nbsp;&nbsp; Hughes Satellite Systems Corp. 6.63%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3046 | &nbsp;&nbsp;&nbsp;&nbsp; 2672 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 9/17/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 9/24/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/7/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 460 | &nbsp;&nbsp;&nbsp;&nbsp; 467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 9/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp; ICITII 6.00%, 1/31/2033 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 878 | &nbsp;&nbsp;&nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 5/1/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9140 | &nbsp;&nbsp;&nbsp;&nbsp; 8637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.88%, 5/1/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4810 | &nbsp;&nbsp;&nbsp;&nbsp; 3991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 8/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp;&nbsp;&nbsp; 326 |
| &nbsp;&nbsp;&nbsp; ILFC E-Capital Trust I 6.35%, 12/21/2065 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3913 | &nbsp;&nbsp;&nbsp;&nbsp; 3368 |
| &nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II 6.60%, 12/21/2065 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3358 | &nbsp;&nbsp;&nbsp;&nbsp; 2945 |
| &nbsp;&nbsp;&nbsp; Imola Merger Corp. 4.75%, 5/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10299 | &nbsp;&nbsp;&nbsp;&nbsp; 10133 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc. 6.63%, 5/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 897 | &nbsp;&nbsp;&nbsp;&nbsp; 918 |
| &nbsp;&nbsp;&nbsp; Installed Building Products, Inc. 5.63%, 2/1/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 859 | &nbsp;&nbsp;&nbsp;&nbsp; 864 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance US, Inc. 7.88%, 9/30/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2287 | &nbsp;&nbsp;&nbsp;&nbsp; 2006 |
| &nbsp;&nbsp;&nbsp; IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6890 | &nbsp;&nbsp;&nbsp;&nbsp; 6888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2586 | &nbsp;&nbsp;&nbsp;&nbsp; 2587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 6/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6453 | &nbsp;&nbsp;&nbsp;&nbsp; 6704 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 2998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 3/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2207 | &nbsp;&nbsp;&nbsp;&nbsp; 2206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 389 | &nbsp;&nbsp;&nbsp;&nbsp; 388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5358 | &nbsp;&nbsp;&nbsp;&nbsp; 5305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 344 | &nbsp;&nbsp;&nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp; ITC Holdings Corp., 2.95%, 5/14/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp; Jackson National Life Global Funding 5.55%, 7/2/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 255 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; JELD-WEN, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/15/2027 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3295 | &nbsp;&nbsp;&nbsp;&nbsp; 2896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 9/1/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1695 | &nbsp;&nbsp;&nbsp;&nbsp; 1062 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp. 9.88%, 9/20/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4762 | &nbsp;&nbsp;&nbsp;&nbsp; 4783 |
| &nbsp;&nbsp;&nbsp; JH North America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/31/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1056 | &nbsp;&nbsp;&nbsp;&nbsp; 1074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 7/31/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1581 | &nbsp;&nbsp;&nbsp;&nbsp; 1611 |
| &nbsp;&nbsp;&nbsp; Kimco Realty OP LLC, REIT 2.25%, 12/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 9 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 12/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp;&nbsp;&nbsp; 1184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2331 | &nbsp;&nbsp;&nbsp;&nbsp; 2359 |
| &nbsp;&nbsp;&nbsp; Knife River Corp. 7.75%, 5/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3104 | &nbsp;&nbsp;&nbsp;&nbsp; 3232 |
| &nbsp;&nbsp;&nbsp; Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1711 | &nbsp;&nbsp;&nbsp;&nbsp; 1775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1389 | &nbsp;&nbsp;&nbsp;&nbsp; 1423 |
| &nbsp;&nbsp;&nbsp; LABL, Inc. 8.63%, 10/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 543 | &nbsp;&nbsp;&nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp; Lamar Media Corp. 4.00%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 475 | &nbsp;&nbsp;&nbsp;&nbsp; 459 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. 4.13%, 1/31/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6455 | &nbsp;&nbsp;&nbsp;&nbsp; 6232 |
| &nbsp;&nbsp;&nbsp; Lear Corp. 2.60%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp; Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 6/30/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5615 | &nbsp;&nbsp;&nbsp;&nbsp; 5786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 3/31/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3615 | &nbsp;&nbsp;&nbsp;&nbsp; 3745 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 869 | &nbsp;&nbsp;&nbsp;&nbsp; 873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1524 | &nbsp;&nbsp;&nbsp;&nbsp; 1467 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10261 | &nbsp;&nbsp;&nbsp;&nbsp; 10307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8509 | &nbsp;&nbsp;&nbsp;&nbsp; 8506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2163 | &nbsp;&nbsp;&nbsp;&nbsp; 2133 |
| &nbsp;&nbsp;&nbsp; Lsf12 Helix Parent LLC 7.13%, 2/1/2033 (d) (k) | &nbsp;&nbsp;&nbsp;&nbsp; 1177 | &nbsp;&nbsp;&nbsp;&nbsp; 1180 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2184 | &nbsp;&nbsp;&nbsp;&nbsp; 2184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3421 | &nbsp;&nbsp;&nbsp;&nbsp; 3216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8787 | &nbsp;&nbsp;&nbsp;&nbsp; 8787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 10/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 715 | &nbsp;&nbsp;&nbsp;&nbsp; 715 |
| &nbsp;&nbsp;&nbsp; M/I Homes, Inc. 4.95%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 6/30/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1725 | &nbsp;&nbsp;&nbsp;&nbsp; 1704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/30/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6049 | &nbsp;&nbsp;&nbsp;&nbsp; 6041 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc. 4.20%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 133 | &nbsp;&nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp; Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 3/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 430 | &nbsp;&nbsp;&nbsp;&nbsp; 436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 3/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp; Masterbrand, Inc. 7.00%, 7/15/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2004 | &nbsp;&nbsp;&nbsp;&nbsp; 2078 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1849 | &nbsp;&nbsp;&nbsp;&nbsp; 1883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2616 | &nbsp;&nbsp;&nbsp;&nbsp; 2637 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co. 7.88%, 4/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 14574 | &nbsp;&nbsp;&nbsp;&nbsp; 14847 |
| &nbsp;&nbsp;&nbsp; McGraw-Hill Education, Inc. 5.75%, 8/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2008 | &nbsp;&nbsp;&nbsp;&nbsp; 2017 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9852 | &nbsp;&nbsp;&nbsp;&nbsp; 9633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3812 | &nbsp;&nbsp;&nbsp;&nbsp; 3934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6790 | &nbsp;&nbsp;&nbsp;&nbsp; 6802 |
| &nbsp;&nbsp;&nbsp; MetLife Capital Trust IV 7.88%, 12/15/2037 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8747 | &nbsp;&nbsp;&nbsp;&nbsp; 9681 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. Series D, (3-MONTH CME TERM SOFR + 3.22%), 5.88%, 3/15/2028 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2358 | &nbsp;&nbsp;&nbsp;&nbsp; 2412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2976 | &nbsp;&nbsp;&nbsp;&nbsp; 3047 |
| &nbsp;&nbsp;&nbsp; Midcontinent Communications 8.00%, 8/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3668 | &nbsp;&nbsp;&nbsp;&nbsp; 3529 |
| &nbsp;&nbsp;&nbsp; Millrose Properties, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 8/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2386 | &nbsp;&nbsp;&nbsp;&nbsp; 2435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 9/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1146 | &nbsp;&nbsp;&nbsp;&nbsp; 1159 |
| &nbsp;&nbsp;&nbsp; Miter Brands Acquisition Holdco, Inc. 6.75%, 4/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1677 | &nbsp;&nbsp;&nbsp;&nbsp; 1722 |
| &nbsp;&nbsp;&nbsp; MIWD Holdco II LLC 5.50%, 2/1/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1196 | &nbsp;&nbsp;&nbsp;&nbsp; 1162 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc. 6.50%, 2/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2827 | &nbsp;&nbsp;&nbsp;&nbsp; 2897 |
| &nbsp;&nbsp;&nbsp; Moog, Inc. 4.25%, 12/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 247 | &nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.86%), 1.51%, 7/20/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 4.21%, 4/20/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.45%), 5.17%, 1/16/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 619 | &nbsp;&nbsp;&nbsp;&nbsp; 636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 1.93%, 4/28/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.20%), 2.51%, 10/20/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 948 | &nbsp;&nbsp;&nbsp;&nbsp; 851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 5.47%, 1/18/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 673 | &nbsp;&nbsp;&nbsp;&nbsp; 696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 5.32%, 7/19/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 5.95%, 1/19/2038 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 817 | &nbsp;&nbsp;&nbsp;&nbsp; 855 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Bank NA (SOFR + 1.08%), 4.95%, 1/14/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 455 | &nbsp;&nbsp;&nbsp;&nbsp; 459 |
| &nbsp;&nbsp;&nbsp; MPLX LP 5.50%, 6/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP, REIT 8.50%, 2/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1606 | &nbsp;&nbsp;&nbsp;&nbsp; 1721 |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd. 5.88%, 1/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2352 | &nbsp;&nbsp;&nbsp;&nbsp; 2358 |
| &nbsp;&nbsp;&nbsp; NCR Atleos Corp. 9.50%, 4/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4514 | &nbsp;&nbsp;&nbsp;&nbsp; 4838 |
| &nbsp;&nbsp;&nbsp; NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5206 | &nbsp;&nbsp;&nbsp;&nbsp; 5131 |
| &nbsp;&nbsp;&nbsp; Neptune Bidco US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.29%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1786 | &nbsp;&nbsp;&nbsp;&nbsp; 1834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 2/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1859 | &nbsp;&nbsp;&nbsp;&nbsp; 1893 |
| &nbsp;&nbsp;&nbsp; NESCO Holdings II, Inc. 5.50%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1187 | &nbsp;&nbsp;&nbsp;&nbsp; 1170 |
| &nbsp;&nbsp;&nbsp; Nevada Power Co. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.94%), 6.25%, 5/15/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1070 | &nbsp;&nbsp;&nbsp;&nbsp; 1082 |
| &nbsp;&nbsp;&nbsp; New Albertsons LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 6/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1535 | &nbsp;&nbsp;&nbsp;&nbsp; 1548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 613 | &nbsp;&nbsp;&nbsp;&nbsp; 653 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 8/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 392 | &nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 5/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2108 | &nbsp;&nbsp;&nbsp;&nbsp; 2306 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 847 | &nbsp;&nbsp;&nbsp;&nbsp; 854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 6/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2927 | &nbsp;&nbsp;&nbsp;&nbsp; 3069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3051 | &nbsp;&nbsp;&nbsp;&nbsp; 3054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 5/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1395 | &nbsp;&nbsp;&nbsp;&nbsp; 1379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 599 | &nbsp;&nbsp;&nbsp;&nbsp; 587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.37%, 4/1/2036 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1192 | &nbsp;&nbsp;&nbsp;&nbsp; 1153 |
| &nbsp;&nbsp;&nbsp; News Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 5/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4395 | &nbsp;&nbsp;&nbsp;&nbsp; 4282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2490 | &nbsp;&nbsp;&nbsp;&nbsp; 2486 |
| &nbsp;&nbsp;&nbsp; Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 7/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9939 | &nbsp;&nbsp;&nbsp;&nbsp; 9942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/1/2028 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7740 | &nbsp;&nbsp;&nbsp;&nbsp; 7693 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 990 | &nbsp;&nbsp;&nbsp;&nbsp; 1021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.46%), 6.75%, 6/15/2054 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1617 | &nbsp;&nbsp;&nbsp;&nbsp; 1718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.36%), 6.70%, 9/1/2054 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp;&nbsp; 1136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 6.38%, 8/15/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1180 | &nbsp;&nbsp;&nbsp;&nbsp; 1219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH SOFR + 3.16%), 5.65%, 5/1/2079 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3683 | &nbsp;&nbsp;&nbsp;&nbsp; 3723 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 2/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2457 | &nbsp;&nbsp;&nbsp;&nbsp; 2550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 2/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2145 | &nbsp;&nbsp;&nbsp;&nbsp; 2245 |
| &nbsp;&nbsp;&nbsp; NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.45%), 6.95%, 11/30/2054 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3014 | &nbsp;&nbsp;&nbsp;&nbsp; 3139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.53%), 6.38%, 3/31/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2550 | &nbsp;&nbsp;&nbsp;&nbsp; 2635 |
| &nbsp;&nbsp;&nbsp; Noble Finance II LLC 8.00%, 4/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1719 | &nbsp;&nbsp;&nbsp;&nbsp; 1792 |
| &nbsp;&nbsp;&nbsp; Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/30/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4460 | &nbsp;&nbsp;&nbsp;&nbsp; 4321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 1/30/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 618 | &nbsp;&nbsp;&nbsp;&nbsp; 641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 8/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp;&nbsp;&nbsp; 1161 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1031 | &nbsp;&nbsp;&nbsp;&nbsp; 1032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2070 | &nbsp;&nbsp;&nbsp;&nbsp; 1984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3022 | &nbsp;&nbsp;&nbsp;&nbsp; 3031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 727 | &nbsp;&nbsp;&nbsp;&nbsp; 681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 2/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6155 | &nbsp;&nbsp;&nbsp;&nbsp; 6273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 3/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1272 | &nbsp;&nbsp;&nbsp;&nbsp; 1400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 1/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2154 | &nbsp;&nbsp;&nbsp;&nbsp; 2168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2152 | &nbsp;&nbsp;&nbsp;&nbsp; 2174 |
| &nbsp;&nbsp;&nbsp; NuStar Logistics LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3036 | &nbsp;&nbsp;&nbsp;&nbsp; 3040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1920 | &nbsp;&nbsp;&nbsp;&nbsp; 2012 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. 3.88%, 9/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4166 | &nbsp;&nbsp;&nbsp;&nbsp; 4082 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1785 | &nbsp;&nbsp;&nbsp;&nbsp; 1763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3313 | &nbsp;&nbsp;&nbsp;&nbsp; 3400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 9/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 695 | &nbsp;&nbsp;&nbsp;&nbsp; 746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 4/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 522 | &nbsp;&nbsp;&nbsp;&nbsp; 496 |
| &nbsp;&nbsp;&nbsp; Organon & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 4/30/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4848 | &nbsp;&nbsp;&nbsp;&nbsp; 4755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 4/30/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5971 | &nbsp;&nbsp;&nbsp;&nbsp; 5423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1320 | &nbsp;&nbsp;&nbsp;&nbsp; 1290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 5/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp; 494 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1161 | &nbsp;&nbsp;&nbsp;&nbsp; 1133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 2/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4198 | &nbsp;&nbsp;&nbsp;&nbsp; 4421 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc. 6.63%, 5/13/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2113 | &nbsp;&nbsp;&nbsp;&nbsp; 2119 |
| &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co. 5.55%, 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1080 | &nbsp;&nbsp;&nbsp;&nbsp; 1116 |
| &nbsp;&nbsp;&nbsp; Paramount Global (3-MONTH SOFR + 3.90%), 6.25%, 2/28/2057 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1171 | &nbsp;&nbsp;&nbsp;&nbsp; 1064 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2430 | &nbsp;&nbsp;&nbsp;&nbsp; 2431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 8/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7327 | &nbsp;&nbsp;&nbsp;&nbsp; 7174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 9/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1064 | &nbsp;&nbsp;&nbsp;&nbsp; 1093 |
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 4/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2260 | &nbsp;&nbsp;&nbsp;&nbsp; 2281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 7/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4657 | &nbsp;&nbsp;&nbsp;&nbsp; 4995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2111 | &nbsp;&nbsp;&nbsp;&nbsp; 2213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 2/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1908 | &nbsp;&nbsp;&nbsp;&nbsp; 1966 |
| &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co. 6.13%, 9/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1343 | &nbsp;&nbsp;&nbsp;&nbsp; 1321 |
| &nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc. 8.25%, 2/1/2031 (d) (k) | &nbsp;&nbsp;&nbsp;&nbsp; 817 | &nbsp;&nbsp;&nbsp;&nbsp; 819 |
| &nbsp;&nbsp;&nbsp; PetSmart LLC 7.50%, 9/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4092 | &nbsp;&nbsp;&nbsp;&nbsp; 4196 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3698 | &nbsp;&nbsp;&nbsp;&nbsp; 3690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.88%), 7.38%, 3/15/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2693 | &nbsp;&nbsp;&nbsp;&nbsp; 2779 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 590 | &nbsp;&nbsp;&nbsp;&nbsp; 609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 895 | &nbsp;&nbsp;&nbsp;&nbsp; 900 |
| &nbsp;&nbsp;&nbsp; Piedmont Natural Gas Co., Inc. 2.50%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp;&nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp; Plains All American Pipeline LP 4.70%, 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp; PM General Purchaser LLC 9.50%, 10/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1723 | &nbsp;&nbsp;&nbsp;&nbsp; 1573 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series T, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.60%), 3.40%, 9/15/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 8023 | &nbsp;&nbsp;&nbsp;&nbsp; 7899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.80%), 5.10%, 7/23/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series V, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.24%), 6.20%, 9/15/2027 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 4543 | &nbsp;&nbsp;&nbsp;&nbsp; 4612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 5.30%, 1/21/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 214 | &nbsp;&nbsp;&nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.62%), 5.35%, 12/2/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series W, (US Treasury Yield Curve Rate T Note Constant Maturity 7 Year + 2.81%), 6.25%, 3/15/2030 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1701 | &nbsp;&nbsp;&nbsp;&nbsp; 1757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.90%), 5.68%, 1/22/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 673 | &nbsp;&nbsp;&nbsp;&nbsp; 706 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. 6.25%, 2/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2667 | &nbsp;&nbsp;&nbsp;&nbsp; 2738 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP 9.00%, 8/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1057 | &nbsp;&nbsp;&nbsp;&nbsp; 1096 |
| &nbsp;&nbsp;&nbsp; Prestige Brands, Inc. 5.13%, 1/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 267 | &nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/15/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 531 | &nbsp;&nbsp;&nbsp;&nbsp; 532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/31/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1886 | &nbsp;&nbsp;&nbsp;&nbsp; 1847 |
| &nbsp;&nbsp;&nbsp; Primo Water Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2623 | &nbsp;&nbsp;&nbsp;&nbsp; 2625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 4/30/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 5.13%, 3/1/2052 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3169 | &nbsp;&nbsp;&nbsp;&nbsp; 3130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.23%), 6.00%, 9/1/2052 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 286 | &nbsp;&nbsp;&nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.85%), 6.75%, 3/1/2053 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3054 | &nbsp;&nbsp;&nbsp;&nbsp; 3257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.40%), 6.50%, 3/15/2054 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2743 | &nbsp;&nbsp;&nbsp;&nbsp; 2888 |
| &nbsp;&nbsp;&nbsp; Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 8/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1594 | &nbsp;&nbsp;&nbsp;&nbsp; 1624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 8/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 944 | &nbsp;&nbsp;&nbsp;&nbsp; 974 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc. 6.38%, 3/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6679 | &nbsp;&nbsp;&nbsp;&nbsp; 6927 |
| &nbsp;&nbsp;&nbsp; QXO Building Products, Inc. 6.75%, 4/30/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3470 | &nbsp;&nbsp;&nbsp;&nbsp; 3576 |
| &nbsp;&nbsp;&nbsp; Radiology Partners, Inc. 8.50%, 7/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4851 | &nbsp;&nbsp;&nbsp;&nbsp; 5093 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. 4.75%, 2/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 242 | &nbsp;&nbsp;&nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp; Raven Acquisition Holdings LLC 6.88%, 11/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2130 | &nbsp;&nbsp;&nbsp;&nbsp; 2135 |
| &nbsp;&nbsp;&nbsp; Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1822 | &nbsp;&nbsp;&nbsp;&nbsp; 1932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 4/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 2552 | &nbsp;&nbsp;&nbsp;&nbsp; 2727 |
| &nbsp;&nbsp;&nbsp; Resideo Funding, Inc. 6.50%, 7/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2896 | &nbsp;&nbsp;&nbsp;&nbsp; 2942 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP, REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 6905 | &nbsp;&nbsp;&nbsp;&nbsp; 6900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 7/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 884 | &nbsp;&nbsp;&nbsp;&nbsp; 910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6718 | &nbsp;&nbsp;&nbsp;&nbsp; 6621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 4/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5039 | &nbsp;&nbsp;&nbsp;&nbsp; 5211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp; 539 |
| &nbsp;&nbsp;&nbsp; RingCentral, Inc. 8.50%, 8/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3887 | &nbsp;&nbsp;&nbsp;&nbsp; 4081 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Lender LLC 6.25%, 10/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 656 | &nbsp;&nbsp;&nbsp;&nbsp; 666 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 8/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 8/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3180 | &nbsp;&nbsp;&nbsp;&nbsp; 3256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 2/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1522 | &nbsp;&nbsp;&nbsp;&nbsp; 1590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 8/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1693 | &nbsp;&nbsp;&nbsp;&nbsp; 1756 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/15/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2624 | &nbsp;&nbsp;&nbsp;&nbsp; 2588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2903 | &nbsp;&nbsp;&nbsp;&nbsp; 2804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 441 | &nbsp;&nbsp;&nbsp;&nbsp; 405 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 5/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1170 | &nbsp;&nbsp;&nbsp;&nbsp; 1153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1326 | &nbsp;&nbsp;&nbsp;&nbsp; 1399 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 9/30/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2372 | &nbsp;&nbsp;&nbsp;&nbsp; 2438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5835 | &nbsp;&nbsp;&nbsp;&nbsp; 6051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 2/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4021 | &nbsp;&nbsp;&nbsp;&nbsp; 4145 |
| &nbsp;&nbsp;&nbsp; RXO, Inc. 7.50%, 11/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2956 | &nbsp;&nbsp;&nbsp;&nbsp; 3013 |
| &nbsp;&nbsp;&nbsp; Sabine Pass Liquefaction LLC 5.88%, 6/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC 11.00%, 12/15/2029 (a) (d) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 1850 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1085 | &nbsp;&nbsp;&nbsp;&nbsp; 1077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 990 | &nbsp;&nbsp;&nbsp;&nbsp; 946 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp. 5.88%, 11/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1179 | &nbsp;&nbsp;&nbsp;&nbsp; 1188 |
| &nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3762 | &nbsp;&nbsp;&nbsp;&nbsp; 3704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2694 | &nbsp;&nbsp;&nbsp;&nbsp; 2536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4547 | &nbsp;&nbsp;&nbsp;&nbsp; 4287 |
| &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 12/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2265 | &nbsp;&nbsp;&nbsp;&nbsp; 2392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 7/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 535 | &nbsp;&nbsp;&nbsp;&nbsp; 566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/1/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1345 | &nbsp;&nbsp;&nbsp;&nbsp; 1374 |
| &nbsp;&nbsp;&nbsp; Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.87%), 4.13%, 4/1/2052 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1453 | &nbsp;&nbsp;&nbsp;&nbsp; 1440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.63%), 6.38%, 4/1/2056 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1442 | &nbsp;&nbsp;&nbsp;&nbsp; 1475 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3262 | &nbsp;&nbsp;&nbsp;&nbsp; 3194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 9/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1870 | &nbsp;&nbsp;&nbsp;&nbsp; 1898 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 2/15/2031 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 833 | &nbsp;&nbsp;&nbsp;&nbsp; 781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 7/15/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp; 1097 |
| &nbsp;&nbsp;&nbsp; Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 2735 | &nbsp;&nbsp;&nbsp;&nbsp; 2819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 187 | &nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2238 | &nbsp;&nbsp;&nbsp;&nbsp; 2094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 870 | &nbsp;&nbsp;&nbsp;&nbsp; 828 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC 6.75%, 8/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2583 | &nbsp;&nbsp;&nbsp;&nbsp; 2635 |
| &nbsp;&nbsp;&nbsp; Shutterfly Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50% (Cash), 10/1/2027 (a) (d) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 10578 | &nbsp;&nbsp;&nbsp;&nbsp; 10270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 10/1/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1580 | &nbsp;&nbsp;&nbsp;&nbsp; 1580 |
| &nbsp;&nbsp;&nbsp; Sierra Pacific Power Co. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.55%), 6.20%, 12/15/2055 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1765 | &nbsp;&nbsp;&nbsp;&nbsp; 1756 |
| &nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc. 8.13%, 2/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3474 | &nbsp;&nbsp;&nbsp;&nbsp; 3594 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 20882 | &nbsp;&nbsp;&nbsp;&nbsp; 20398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 7/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 11122 | &nbsp;&nbsp;&nbsp;&nbsp; 11172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 7/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 691 | &nbsp;&nbsp;&nbsp;&nbsp; 652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 9/1/2031 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 355 | &nbsp;&nbsp;&nbsp;&nbsp; 355 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 7/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3186 | &nbsp;&nbsp;&nbsp;&nbsp; 3059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 5/15/2031 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2278 | &nbsp;&nbsp;&nbsp;&nbsp; 2248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 1/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1419 | &nbsp;&nbsp;&nbsp;&nbsp; 1448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/1/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8225 | &nbsp;&nbsp;&nbsp;&nbsp; 8405 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2398 | &nbsp;&nbsp;&nbsp;&nbsp; 2402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3170 | &nbsp;&nbsp;&nbsp;&nbsp; 3173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 7/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3494 | &nbsp;&nbsp;&nbsp;&nbsp; 3596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1702 | &nbsp;&nbsp;&nbsp;&nbsp; 1722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 8/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp;&nbsp;&nbsp; 339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 11/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1652 | &nbsp;&nbsp;&nbsp;&nbsp; 1747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 7/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3109 | &nbsp;&nbsp;&nbsp;&nbsp; 3266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 8/1/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1583 | &nbsp;&nbsp;&nbsp;&nbsp; 1587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 6/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1658 | &nbsp;&nbsp;&nbsp;&nbsp; 1813 |
| &nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete LLC 8.88%, 11/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3975 | &nbsp;&nbsp;&nbsp;&nbsp; 4238 |
| &nbsp;&nbsp;&nbsp; Snap, Inc. 6.88%, 3/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 969 | &nbsp;&nbsp;&nbsp;&nbsp; 994 |
| &nbsp;&nbsp;&nbsp; Solstice Advanced Materials, Inc. 5.63%, 9/30/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3094 | &nbsp;&nbsp;&nbsp;&nbsp; 3110 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7200 | &nbsp;&nbsp;&nbsp;&nbsp; 6985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2845 | &nbsp;&nbsp;&nbsp;&nbsp; 2655 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3836 | &nbsp;&nbsp;&nbsp;&nbsp; 3770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/2031 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3279 | &nbsp;&nbsp;&nbsp;&nbsp; 3162 |
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC 7.38%, 6/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2502 | &nbsp;&nbsp;&nbsp;&nbsp; 2633 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. 5.45%, 6/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 580 | &nbsp;&nbsp;&nbsp;&nbsp; 600 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 21-A, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.92%), 3.75%, 9/15/2051 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2065 | &nbsp;&nbsp;&nbsp;&nbsp; 2049 |
| &nbsp;&nbsp;&nbsp; Spectrum Brands, Inc. 3.88%, 3/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 729 | &nbsp;&nbsp;&nbsp;&nbsp; 588 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 9/30/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 11533 | &nbsp;&nbsp;&nbsp;&nbsp; 11523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 670 | &nbsp;&nbsp;&nbsp;&nbsp; 692 |
| &nbsp;&nbsp;&nbsp; Stagwell Global LLC 5.63%, 8/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5741 | &nbsp;&nbsp;&nbsp;&nbsp; 5567 |
| &nbsp;&nbsp;&nbsp; Standard Building Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 8/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4418 | &nbsp;&nbsp;&nbsp;&nbsp; 4556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 8/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4823 | &nbsp;&nbsp;&nbsp;&nbsp; 4930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1236 | &nbsp;&nbsp;&nbsp;&nbsp; 1235 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6645 | &nbsp;&nbsp;&nbsp;&nbsp; 6610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 7/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp; Staples, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 9/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8710 | &nbsp;&nbsp;&nbsp;&nbsp; 8559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.75%, 1/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4892 | &nbsp;&nbsp;&nbsp;&nbsp; 4006 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc., REIT 7.25%, 4/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1162 | &nbsp;&nbsp;&nbsp;&nbsp; 1225 |
| &nbsp;&nbsp;&nbsp; State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.61%), 6.70%, 3/15/2029 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 8012 | &nbsp;&nbsp;&nbsp;&nbsp; 8311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series J, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.63%), 6.70%, 9/15/2029 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1240 | &nbsp;&nbsp;&nbsp;&nbsp; 1297 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.57%), 4.82%, 1/26/2034 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp;&nbsp;&nbsp; 468 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. 4.85%, 2/10/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1005 | &nbsp;&nbsp;&nbsp;&nbsp; 1031 |
| &nbsp;&nbsp;&nbsp; Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 413 | &nbsp;&nbsp;&nbsp;&nbsp; 413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 5/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1102 | &nbsp;&nbsp;&nbsp;&nbsp; 1146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2645 | &nbsp;&nbsp;&nbsp;&nbsp; 2603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4022 | &nbsp;&nbsp;&nbsp;&nbsp; 3927 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc. 7.25%, 4/15/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3734 | &nbsp;&nbsp;&nbsp;&nbsp; 3759 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc. 4.00%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2089 | &nbsp;&nbsp;&nbsp;&nbsp; 2024 |
| &nbsp;&nbsp;&nbsp; Synopsys, Inc. 4.85%, 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 875 | &nbsp;&nbsp;&nbsp;&nbsp; 893 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. 4.00%, 4/14/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC 6.25%, 2/1/2034 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6556 | &nbsp;&nbsp;&nbsp;&nbsp; 6644 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 1/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2450 | &nbsp;&nbsp;&nbsp;&nbsp; 2449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 2/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1508 | &nbsp;&nbsp;&nbsp;&nbsp; 1563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/31/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3738 | &nbsp;&nbsp;&nbsp;&nbsp; 3793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4842 | &nbsp;&nbsp;&nbsp;&nbsp; 4873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2420 | &nbsp;&nbsp;&nbsp;&nbsp; 2463 |
| &nbsp;&nbsp;&nbsp; TEGNA, Inc. 5.00%, 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5152 | &nbsp;&nbsp;&nbsp;&nbsp; 5116 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 7416 | &nbsp;&nbsp;&nbsp;&nbsp; 7418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 969 | &nbsp;&nbsp;&nbsp;&nbsp; 952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 5926 | &nbsp;&nbsp;&nbsp;&nbsp; 6048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5139 | &nbsp;&nbsp;&nbsp;&nbsp; 5338 |
| &nbsp;&nbsp;&nbsp; Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5949 | &nbsp;&nbsp;&nbsp;&nbsp; 5930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1808 | &nbsp;&nbsp;&nbsp;&nbsp; 1851 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. 2.25%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 965 | &nbsp;&nbsp;&nbsp;&nbsp; 856 |
| &nbsp;&nbsp;&nbsp; TopBuild Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 2/15/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 409 | &nbsp;&nbsp;&nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/31/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1394 | &nbsp;&nbsp;&nbsp;&nbsp; 1407 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp. 4.05%, 9/5/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4771 | &nbsp;&nbsp;&nbsp;&nbsp; 4906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 3/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2982 | &nbsp;&nbsp;&nbsp;&nbsp; 3083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/31/2034 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 792 | &nbsp;&nbsp;&nbsp;&nbsp; 819 |
| &nbsp;&nbsp;&nbsp; Transocean International Ltd. 8.75%, 2/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 980 | &nbsp;&nbsp;&nbsp;&nbsp; 1021 |
| &nbsp;&nbsp;&nbsp; Transocean Titan Financing Ltd. 8.38%, 2/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 625 | &nbsp;&nbsp;&nbsp;&nbsp; 637 |
| &nbsp;&nbsp;&nbsp; TriMas Corp. 4.13%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4505 | &nbsp;&nbsp;&nbsp;&nbsp; 4392 |
| &nbsp;&nbsp;&nbsp; TriNet Group, Inc. 7.13%, 8/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2095 | &nbsp;&nbsp;&nbsp;&nbsp; 2155 |
| &nbsp;&nbsp;&nbsp; Trinity Industries, Inc. 7.75%, 7/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2548 | &nbsp;&nbsp;&nbsp;&nbsp; 2630 |
| &nbsp;&nbsp;&nbsp; Trinseo Luxco Finance SPV SARL 7.63% (Blend (Cash 5.13% + PIK 2.50%)), 5/3/2029 (d) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 2848 | &nbsp;&nbsp;&nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.61%), 1.27%, 3/2/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series M, (3-MONTH CME TERM SOFR + 3.05%), 5.13%, 12/15/2027 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2018 | &nbsp;&nbsp;&nbsp;&nbsp; 2018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.31%), 5.07%, 5/20/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 395 | &nbsp;&nbsp;&nbsp;&nbsp; 405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.92%), 5.71%, 1/24/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 979 | &nbsp;&nbsp;&nbsp;&nbsp; 1025 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; UDR, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc. 5.38%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1080 | &nbsp;&nbsp;&nbsp;&nbsp; 1091 |
| &nbsp;&nbsp;&nbsp; United Airlines, Inc. 4.63%, 4/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3330 | &nbsp;&nbsp;&nbsp;&nbsp; 3327 |
| &nbsp;&nbsp;&nbsp; United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2155 | &nbsp;&nbsp;&nbsp;&nbsp; 2054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1185 | &nbsp;&nbsp;&nbsp;&nbsp; 1184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 3/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5712 | &nbsp;&nbsp;&nbsp;&nbsp; 5935 |
| &nbsp;&nbsp;&nbsp; United States Steel Corp. 6.88%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 211 | &nbsp;&nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp; Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 8/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5290 | &nbsp;&nbsp;&nbsp;&nbsp; 5459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 242 | &nbsp;&nbsp;&nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 6/30/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3822 | &nbsp;&nbsp;&nbsp;&nbsp; 3872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 7/31/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 8/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1294 | &nbsp;&nbsp;&nbsp;&nbsp; 1393 |
| &nbsp;&nbsp;&nbsp; US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.54%), 3.70%, 1/15/2027 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 8601 | &nbsp;&nbsp;&nbsp;&nbsp; 8481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series J, (3-MONTH CME TERM SOFR + 3.18%), 5.30%, 4/15/2027 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1216 | &nbsp;&nbsp;&nbsp;&nbsp; 1217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.88%), 6.79%, 10/26/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 5.38%, 1/23/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 2.68%, 1/27/2033 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 915 | &nbsp;&nbsp;&nbsp;&nbsp; 825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.86%), 5.68%, 1/23/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp; 849 |
| &nbsp;&nbsp;&nbsp; US Foods, Inc. 6.88%, 9/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp;&nbsp;&nbsp; 1176 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 7/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1307 | &nbsp;&nbsp;&nbsp;&nbsp; 1327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 5/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2560 | &nbsp;&nbsp;&nbsp;&nbsp; 2653 |
| &nbsp;&nbsp;&nbsp; Valaris Ltd. 8.38%, 4/30/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 848 | &nbsp;&nbsp;&nbsp;&nbsp; 886 |
| &nbsp;&nbsp;&nbsp; Ventas Realty LP, REIT 4.00%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1125 | &nbsp;&nbsp;&nbsp;&nbsp; 1153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 495 | &nbsp;&nbsp;&nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 6/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2520 | &nbsp;&nbsp;&nbsp;&nbsp; 2580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 2/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3087 | &nbsp;&nbsp;&nbsp;&nbsp; 3287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 6/1/2031 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1985 | &nbsp;&nbsp;&nbsp;&nbsp; 2030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 2/1/2032 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6438 | &nbsp;&nbsp;&nbsp;&nbsp; 6807 |
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1897 | &nbsp;&nbsp;&nbsp;&nbsp; 1953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 1/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6604 | &nbsp;&nbsp;&nbsp;&nbsp; 6854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1338 | &nbsp;&nbsp;&nbsp;&nbsp; 1386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 5/1/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 655 | &nbsp;&nbsp;&nbsp;&nbsp; 730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/15/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2140 | &nbsp;&nbsp;&nbsp;&nbsp; 2243 |
| &nbsp;&nbsp;&nbsp; VICI Properties LP, REIT 4.63%, 12/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3583 | &nbsp;&nbsp;&nbsp;&nbsp; 3584 |
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd. 5.88%, 10/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2907 | &nbsp;&nbsp;&nbsp;&nbsp; 2947 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.74%), 7.00%, 12/15/2026 (d) (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1472 | &nbsp;&nbsp;&nbsp;&nbsp; 1494 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7615 | &nbsp;&nbsp;&nbsp;&nbsp; 7620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/31/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 5/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 866 | &nbsp;&nbsp;&nbsp;&nbsp; 855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5404 | &nbsp;&nbsp;&nbsp;&nbsp; 5718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 4/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2023 | &nbsp;&nbsp;&nbsp;&nbsp; 2126 |
| &nbsp;&nbsp;&nbsp; VMware LLC 2.20%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 823 | &nbsp;&nbsp;&nbsp;&nbsp; 733 |
| &nbsp;&nbsp;&nbsp; VoltaGrid LLC 7.38%, 11/1/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2811 | &nbsp;&nbsp;&nbsp;&nbsp; 2847 |
| &nbsp;&nbsp;&nbsp; Wabash National Corp. 4.50%, 10/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3500 | &nbsp;&nbsp;&nbsp;&nbsp; 3257 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3, Inc. 7.63%, 1/30/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2220 | &nbsp;&nbsp;&nbsp;&nbsp; 2334 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 3511 | &nbsp;&nbsp;&nbsp;&nbsp; 3090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 3/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 2265 | &nbsp;&nbsp;&nbsp;&nbsp; 1591 |
| &nbsp;&nbsp;&nbsp; Wayfair LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 10/31/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1106 | &nbsp;&nbsp;&nbsp;&nbsp; 1156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 9/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3941 | &nbsp;&nbsp;&nbsp;&nbsp; 4190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1258 | &nbsp;&nbsp;&nbsp;&nbsp; 1300 |
| &nbsp;&nbsp;&nbsp; WBI Operating LLC 6.25%, 10/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2524 | &nbsp;&nbsp;&nbsp;&nbsp; 2543 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series BB, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.45%), 3.90%, 3/15/2026 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 8146 | &nbsp;&nbsp;&nbsp;&nbsp; 8137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.43%), 3.20%, 6/17/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.51%), 3.53%, 3/24/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 983 | &nbsp;&nbsp;&nbsp;&nbsp; 978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.61%), 7.63%, 9/15/2028 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 2541 | &nbsp;&nbsp;&nbsp;&nbsp; 2706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.77%), 6.85%, 9/15/2029 (e) (g) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 5226 | &nbsp;&nbsp;&nbsp;&nbsp; 5466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), 5.20%, 1/23/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 556 | &nbsp;&nbsp;&nbsp;&nbsp; 573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), 4.90%, 7/25/2033 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.78%), 5.50%, 1/23/2035 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp;&nbsp;&nbsp; 481 |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 6/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3055 | &nbsp;&nbsp;&nbsp;&nbsp; 3092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5878 | &nbsp;&nbsp;&nbsp;&nbsp; 6060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 3/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3107 | &nbsp;&nbsp;&nbsp;&nbsp; 3246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 3/15/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1155 | &nbsp;&nbsp;&nbsp;&nbsp; 1203 |
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP 4.80%, 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp;&nbsp; 405 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The) 2.60%, 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp; Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1061 | &nbsp;&nbsp;&nbsp;&nbsp; 1097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 4/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 618 | &nbsp;&nbsp;&nbsp;&nbsp; 640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/1/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2571 | &nbsp;&nbsp;&nbsp;&nbsp; 2681 |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp. 3.75%, 12/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1861 | &nbsp;&nbsp;&nbsp;&nbsp; 1791 |
| &nbsp;&nbsp;&nbsp; WP Carey, Inc., REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 2/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/15/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2794 | &nbsp;&nbsp;&nbsp;&nbsp; 2794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 8/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2671 | &nbsp;&nbsp;&nbsp;&nbsp; 2553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 8/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1727 | &nbsp;&nbsp;&nbsp;&nbsp; 1717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 8/1/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 706 | &nbsp;&nbsp;&nbsp;&nbsp; 707 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; WULF Compute LLC 7.75%, 10/15/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5123 | &nbsp;&nbsp;&nbsp;&nbsp; 5343 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/1/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6205 | &nbsp;&nbsp;&nbsp;&nbsp; 6223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 2/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp; 948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 3/15/2033 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2903 | &nbsp;&nbsp;&nbsp;&nbsp; 2958 |
| &nbsp;&nbsp;&nbsp; Xerox Corp. 10.25%, 10/15/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1285 | &nbsp;&nbsp;&nbsp;&nbsp; 1059 |
| &nbsp;&nbsp;&nbsp; Xerox Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/15/2028 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 11/30/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2419 | &nbsp;&nbsp;&nbsp;&nbsp; 888 |
| &nbsp;&nbsp;&nbsp; XPO, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 6/1/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1845 | &nbsp;&nbsp;&nbsp;&nbsp; 1877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 2/1/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1560 | &nbsp;&nbsp;&nbsp;&nbsp; 1640 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 2997 | &nbsp;&nbsp;&nbsp;&nbsp; 2930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 4/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. 2.60%, 11/24/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 720 | &nbsp;&nbsp;&nbsp;&nbsp; 650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2217849 |
| **Uzbekistan — 0.1%** | **Uzbekistan — 0.1%** | **Uzbekistan — 0.1%** |
| &nbsp;&nbsp;&nbsp; Jscb Agrobank 9.25%, 10/2/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 767 |
| &nbsp;&nbsp;&nbsp; Navoi Mining & Metallurgical Combinat 6.95%, 10/17/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 940 | &nbsp;&nbsp;&nbsp;&nbsp; 1005 |
| &nbsp;&nbsp;&nbsp; Navoiyuran State Enterprise 6.70%, 7/2/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1428 |
| &nbsp;&nbsp;&nbsp; Uzbekneftegaz JSC 4.75%, 11/16/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 1311 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4511 |
| **Venezuela, Bolivarian Republic of — 0.1%** | **Venezuela, Bolivarian Republic of — 0.1%** | **Venezuela, Bolivarian Republic of — 0.1%** |
| &nbsp;&nbsp;&nbsp; Petroleos de Venezuela SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 10/27/2020 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 620 | &nbsp;&nbsp;&nbsp;&nbsp; 626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/15/2026 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 3705 | &nbsp;&nbsp;&nbsp;&nbsp; 1124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 4/12/2027 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 17960 | &nbsp;&nbsp;&nbsp;&nbsp; 5352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/12/2037 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 4450 | &nbsp;&nbsp;&nbsp;&nbsp; 1332 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $2,662,509)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 2698150 |
|  | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Exchange-Traded Funds — 10.1%** | **Exchange-Traded Funds — 10.1%** | **Exchange-Traded Funds — 10.1%** |
| **United States — 10.1%** | **United States — 10.1%** | **United States — 10.1%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Income ETF (n) | &nbsp;&nbsp;&nbsp;&nbsp; 514 | &nbsp;&nbsp;&nbsp;&nbsp; 23906 |
| &nbsp;&nbsp;&nbsp; JPMorgan Nasdaq Equity Premium Income ETF (n) | &nbsp;&nbsp;&nbsp;&nbsp; 14247 | &nbsp;&nbsp;&nbsp;&nbsp; 846682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Exchange-Traded Funds <br>(Cost $764,913)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 870588 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE** <br>**($000)**<br>|
| **Equity Linked Notes — 5.7%** | **Equity Linked Notes — 5.7%** | **Equity Linked Notes — 5.7%** |
| **Canada — 0.5%** | **Canada — 0.5%** | **Canada — 0.5%** |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada, ELN, 11.00%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 4262 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada, ELN, 11.00%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp; 20154 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada, ELN, 13.00%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp; 6613 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The), ELN, 15.00%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 4433 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The), ELN, 25.00%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 4469 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The), ELN, 27.30%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 4999 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 44930 |
| **France — 0.9%** | **France — 0.9%** | **France — 0.9%** |
| &nbsp;&nbsp;&nbsp; BNP Paribas Issuance BV, ELN, 11.20%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 4490 |
| &nbsp;&nbsp;&nbsp; BNP Paribas Issuance BV, ELN, 5.30%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 5548 |
| &nbsp;&nbsp;&nbsp; BNP Paribas Issuance BV, ELN, 5.90%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 5205 |
| &nbsp;&nbsp;&nbsp; BNP Paribas Issuance BV, ELN, 9.20%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 4975 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 12.50%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 3809 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 14.00%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 4293 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 15.00%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 5939 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 16.70%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 4595 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 16.80%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 4798 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 19.00%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 4401 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 19.40%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 4490 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 20.10%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 177 | &nbsp;&nbsp;&nbsp;&nbsp; 3942 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 7.30%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 6270 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 8.00%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 294 | &nbsp;&nbsp;&nbsp;&nbsp; 5188 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA, ELN, 8.30%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 5932 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 73875 |
| **Japan — 0.1%** | **Japan — 0.1%** | **Japan — 0.1%** |
| &nbsp;&nbsp;&nbsp; Mizuho Markets Cayman LP, ELN, 15.60%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 4776 |
| &nbsp;&nbsp;&nbsp; Mizuho Markets Cayman LP, ELN, 16.20%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 3852 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8628 |
| **United Kingdom — 0.8%** | **United Kingdom — 0.8%** | **United Kingdom — 0.8%** |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 11.20%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp; 19764 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 12.20%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 4091 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 13.50%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 7792 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 14.30%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 4760 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 14.30%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp;&nbsp;&nbsp; 5774 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 14.30%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 3937 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 15.60%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 2637 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 7.30%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 5237 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 7.50%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 7619 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 8.50%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 4408 |
| &nbsp;&nbsp;&nbsp; Barclays Bank plc, ELN, 9.70%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 4827 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 70846 |
| **United States — 3.4%** | **United States — 3.4%** | **United States — 3.4%** |
| &nbsp;&nbsp;&nbsp; Citigroup Global Markets Holdings, Inc., ELN, 12.50%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 4318 |
| &nbsp;&nbsp;&nbsp; Citigroup Global Markets Holdings, Inc., ELN, 16.30%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 3007 |
| &nbsp;&nbsp;&nbsp; Citigroup Global Markets Holdings, Inc., ELN, 18.00%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 5038 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Equity Linked Notes — continued** | **Equity Linked Notes — continued** | **Equity Linked Notes — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Goldman Sachs International, ELN, 10.50%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 18825 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs International, ELN, 12.30%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 5536 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs International, ELN, 13.30%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 7951 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs International, ELN, 13.90%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 4280 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs International, ELN, 16.80%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 11355 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs International, ELN, 5.70%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 5131 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs International, ELN, 9.70%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 3476 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 10.00%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 6093 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 10.20%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 4052 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 10.70%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 4327 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 11.00%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 9100 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 11.00%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 9008 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 11.30%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 4055 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 11.50%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 3962 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 11.90%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 4021 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 12.40%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 4057 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 12.50%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp; 5170 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 12.80%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp; 3810 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 12.80%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp; 3203 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 12.80%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 4432 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 12.90%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 8226 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 13.00%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 6835 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 13.00%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 7405 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 13.20%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 4378 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 13.30%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 4125 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 13.50%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 2745 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 13.50%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 4914 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 13.60%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 5545 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 14.00%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 4999 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 14.40%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 3225 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 14.70%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 4571 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 14.90%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp; 3328 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 16.80%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 3328 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 16.80%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 5545 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 17.80%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 4804 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 18.00%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 248 | &nbsp;&nbsp;&nbsp;&nbsp; 3147 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 18.80%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 4449 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 18.80%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 3929 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 8.50%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 203 | &nbsp;&nbsp;&nbsp;&nbsp; 4102 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 8.50%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 4391 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 9.20%, 2/13/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 9631 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC, ELN, 9.90%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 4401 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Bank NA, ELN, 10.00%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 140 | &nbsp;&nbsp;&nbsp;&nbsp; 11688 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Bank NA, ELN, 14.10%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 3932 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Bank NA, ELN, 16.00%, 2/20/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 8587 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Bank NA, ELN, 17.80%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 163 | &nbsp;&nbsp;&nbsp;&nbsp; 7478 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Bank NA, ELN, 31.30%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 4221 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Equity Linked Notes — continued** | **Equity Linked Notes — continued** | **Equity Linked Notes — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Wells Fargo Bank NA, ELN, 7.30%, 2/6/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 5248 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Bank NA, ELN, 9.60%, 2/27/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp; 7322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 290706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Equity Linked Notes <br>(Cost $497,580)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 488985 |
| **Commercial Mortgage-Backed Securities — 4.4%** | **Commercial Mortgage-Backed Securities — 4.4%** | **Commercial Mortgage-Backed Securities — 4.4%** |
| **United States — 4.4%** | **United States — 4.4%** | **United States — 4.4%** |
| &nbsp;&nbsp;&nbsp; BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN16, Class D, 3.00%, 2/15/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 1949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN16, Class F, 3.67%, 2/15/2052 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN21, Class F, 2.68%, 10/17/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN23, Class D, 2.50%, 12/15/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 3161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN31, Class E, 2.50%, 2/15/2054 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 1767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-BNK5, Class D, 3.08%, 6/15/2060 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 8500 | &nbsp;&nbsp;&nbsp;&nbsp; 7512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-BN14, Class F, 3.94%, 9/15/2060 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1534 | &nbsp;&nbsp;&nbsp;&nbsp; 869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN19, Class C, 4.03%, 8/15/2061 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7500 | &nbsp;&nbsp;&nbsp;&nbsp; 5547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-BN15, Class E, 3.00%, 11/15/2061 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN24, Class D, 2.50%, 11/15/2062 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN24, Class C, 3.52%, 11/15/2062 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp; 5341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN26, Class D, 2.50%, 3/15/2063 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN28, Class E, 2.50%, 3/15/2063 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 2236 |
| &nbsp;&nbsp;&nbsp; BBCMS Mortgage Trust Series 2017-C1, Class D, 3.55%, 2/15/2050 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2887 | &nbsp;&nbsp;&nbsp;&nbsp; 2087 |
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B1, Class D, 2.75%, 1/15/2051 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 975 | &nbsp;&nbsp;&nbsp;&nbsp; 581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B9, Class F, 3.74%, 3/15/2052 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6590 | &nbsp;&nbsp;&nbsp;&nbsp; 2879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B11, Class D, 3.00%, 5/15/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 2188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B11, Class C, 3.75%, 5/15/2052 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 13959 | &nbsp;&nbsp;&nbsp;&nbsp; 11119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-B21, Class E, 2.00%, 12/17/2053 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 1331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-V20, Class XA, IO, 2.00%, 2/15/2059 ‡ (k) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B14, Class E, 2.50%, 12/15/2062 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1415 | &nbsp;&nbsp;&nbsp;&nbsp; 489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B15, Class E, 2.75%, 12/15/2072 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4391 | &nbsp;&nbsp;&nbsp;&nbsp; 2520 |
| &nbsp;&nbsp;&nbsp; BMO Frn , 1.13%, 2/15/2059 ‡ (k) | &nbsp;&nbsp;&nbsp;&nbsp; 1170 | &nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp; BX Mortgage Trust Series 2025-BIO3, Class D, 6.96%, 2/10/2042 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 475 | &nbsp;&nbsp;&nbsp;&nbsp; 479 |
| &nbsp;&nbsp;&nbsp; CD Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-CD2, Class C, 3.97%, 11/10/2049 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp;&nbsp;&nbsp; 436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD3, Class A4, 3.63%, 2/10/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 3800 | &nbsp;&nbsp;&nbsp;&nbsp; 3711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD4, Class D, 3.30%, 5/10/2050 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD5, Class D, 3.35%, 8/15/2050 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1831 | &nbsp;&nbsp;&nbsp;&nbsp; 1697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD6, Class C, 4.27%, 11/13/2050 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1371 | &nbsp;&nbsp;&nbsp;&nbsp; 1290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-CD7, Class D, 3.09%, 8/15/2051 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-CD8, Class E, 3.00%, 8/15/2057 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1790 | &nbsp;&nbsp;&nbsp;&nbsp; 1051 |
| &nbsp;&nbsp;&nbsp; CFCRE Commercial Mortgage Trust Series 2016-C6, Class D, 4.16%, 11/10/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 849 |
| &nbsp;&nbsp;&nbsp; CGMS Commercial Mortgage Trust Series 2017-B1, Class E, 3.30%, 8/15/2050 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1072 |
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GC27, Class D, 4.38%, 2/10/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 1578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GC29, Class C, 3.97%, 4/10/2048 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1818 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-P1, Class D, 3.23%, 9/15/2048 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C1, Class D, 4.94%, 5/10/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4975 | &nbsp;&nbsp;&nbsp;&nbsp; 4774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C2, Class D, 3.25%, 8/10/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-P6, Class D, 3.25%, 12/10/2049 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1325 | &nbsp;&nbsp;&nbsp;&nbsp; 974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-P7, Class B, 4.14%, 4/14/2050 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp;&nbsp;&nbsp; 864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-P7, Class C, 4.40%, 4/14/2050 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3295 | &nbsp;&nbsp;&nbsp;&nbsp; 2818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GC46, Class E, 2.60%, 2/15/2053 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4500 | &nbsp;&nbsp;&nbsp;&nbsp; 2453 |
| &nbsp;&nbsp;&nbsp; COLEM Mortgage Trust Series 2022-HLNE, Class A, 2.46%, 4/12/2042 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2394 |
| &nbsp;&nbsp;&nbsp; Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-CR15, Class C, 3.93%, 2/10/2047 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 989 | &nbsp;&nbsp;&nbsp;&nbsp; 953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-LC15, Class D, 4.81%, 4/10/2047 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 451 | &nbsp;&nbsp;&nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-UBS5, Class D, 3.50%, 9/10/2047 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4100 | &nbsp;&nbsp;&nbsp;&nbsp; 2706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-LC17, Class D, 3.69%, 10/10/2047 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR22, Class E, 3.00%, 3/10/2048 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 1438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR22, Class D, 3.70%, 3/10/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-LC21, Class D, 4.24%, 7/10/2048 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp; 405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR24, Class D, 3.46%, 8/10/2048 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2134 | &nbsp;&nbsp;&nbsp;&nbsp; 1985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR25, Class D, 3.47%, 8/10/2048 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1333 | &nbsp;&nbsp;&nbsp;&nbsp; 1286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR26, Class D, 3.61%, 10/10/2048 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR27, Class D, 3.62%, 10/10/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-LC23, Class D, 3.68%, 10/10/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp; 2362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-LC23, Class E, 3.68%, 10/10/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-CR28, Class D, 3.83%, 2/10/2049 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 1164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-CR28, Class C, 4.58%, 2/10/2049 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-COR3, Class D, 2.84%, 5/10/2051 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 812 |
| &nbsp;&nbsp;&nbsp; CSAIL Commercial Mortgage Trust Series 2018-C14, Class D, 4.88%, 11/15/2051 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2973 | &nbsp;&nbsp;&nbsp;&nbsp; 2209 |
| &nbsp;&nbsp;&nbsp; DBJPM Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C3, Class D, 3.48%, 8/10/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3570 | &nbsp;&nbsp;&nbsp;&nbsp; 2318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C3, Class E, 4.23%, 8/10/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp; FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MN11, Class M1, 5.35%, 7/25/2045 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2699 | &nbsp;&nbsp;&nbsp;&nbsp; 2698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MN11, Class M2, 6.35%, 7/25/2045 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3772 | &nbsp;&nbsp;&nbsp;&nbsp; 3721 |
| &nbsp;&nbsp;&nbsp; FHLMC MSCR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN2, Class B1, 9.20%, 7/25/2041 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MN10, Class M2, 6.55%, 2/25/2045 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MN11, Class B1, 8.10%, 7/25/2045 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1660 | &nbsp;&nbsp;&nbsp;&nbsp; 1660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN1, Class M1, 5.70%, 1/25/2051 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN1, Class M2, 7.45%, 1/25/2051 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 10750 | &nbsp;&nbsp;&nbsp;&nbsp; 11163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN1, Class B1, 11.45%, 1/25/2051 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2650 | &nbsp;&nbsp;&nbsp;&nbsp; 2936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN3, Class M1, 6.00%, 11/25/2051 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 854 | &nbsp;&nbsp;&nbsp;&nbsp; 855 |
| &nbsp;&nbsp;&nbsp; FHLMC, Multi-Class Certificates Series 2020-RR05, Class X, IO, 2.01%, 1/27/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 17110 | &nbsp;&nbsp;&nbsp;&nbsp; 857 |
| &nbsp;&nbsp;&nbsp; FHLMC, Multi-Family Structured Credit Risk Series 2022-MN5, Class B1, 13.20%, 11/25/2042 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 8302 | &nbsp;&nbsp;&nbsp;&nbsp; 9446 |
| &nbsp;&nbsp;&nbsp; FHLMC, Multi-Family Structured Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K734, Class X3, IO, 2.23%, 7/25/2026 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 11615 | &nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KC04, Class X1, IO, 1.25%, 12/25/2026 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6480 | &nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K084, Class X3, IO, 2.24%, 11/25/2028 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K090, Class X3, IO, 2.31%, 10/25/2029 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp;&nbsp;&nbsp; 120 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Q012, Class X, IO, 3.94%, 9/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 17879 | &nbsp;&nbsp;&nbsp;&nbsp; 2630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K060, Class X3, IO, 1.90%, 12/25/2044 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K061, Class X3, IO, 1.96%, 12/25/2044 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1528 | &nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K087, Class X3, IO, 2.27%, 1/25/2046 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 17957 | &nbsp;&nbsp;&nbsp;&nbsp; 1055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K089, Class X3, IO, 2.30%, 1/25/2046 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 22283 | &nbsp;&nbsp;&nbsp;&nbsp; 1432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K102, Class X3, IO, 1.89%, 12/25/2046 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1180 | &nbsp;&nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K088, Class X3, IO, 2.35%, 2/25/2047 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 10130 | &nbsp;&nbsp;&nbsp;&nbsp; 655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K093, Class X3, IO, 2.21%, 5/25/2047 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K116, Class X3, IO, 3.02%, 9/25/2047 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 10500 | &nbsp;&nbsp;&nbsp;&nbsp; 1216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K108, Class X3, IO, 3.49%, 4/25/2048 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 16575 | &nbsp;&nbsp;&nbsp;&nbsp; 1999 |
| &nbsp;&nbsp;&nbsp; FNMA ACES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-M11, Class X1, IO, 1.16%, 6/25/2029 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4068 | &nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-M21, Class X2, IO, 1.28%, 2/25/2031 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 82080 | &nbsp;&nbsp;&nbsp;&nbsp; 3905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-M37, Class X, IO, 0.98%, 4/25/2032 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 22870 | &nbsp;&nbsp;&nbsp;&nbsp; 762 |
| &nbsp;&nbsp;&nbsp; FREMF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KF62, Class B, 5.95%, 4/25/2026 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 489 | &nbsp;&nbsp;&nbsp;&nbsp; 487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KL1E, Class BE, 3.91%, 2/25/2027 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 186 | &nbsp;&nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF33, Class B, 6.45%, 6/25/2027 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 566 | &nbsp;&nbsp;&nbsp;&nbsp; 548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KF40, Class B, 6.60%, 11/25/2027 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 978 | &nbsp;&nbsp;&nbsp;&nbsp; 942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF43, Class B, 6.05%, 1/25/2028 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1288 | &nbsp;&nbsp;&nbsp;&nbsp; 1252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 21K-F116, Class CS, 10.19%, 6/25/2028 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4788 | &nbsp;&nbsp;&nbsp;&nbsp; 4764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-KF50, Class B, 5.80%, 7/25/2028 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 293 | &nbsp;&nbsp;&nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KG01, Class B, 4.28%, 4/25/2029 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4765 | &nbsp;&nbsp;&nbsp;&nbsp; 4383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KW09, Class X2A, IO, 0.10%, 5/25/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 249810 | &nbsp;&nbsp;&nbsp;&nbsp; 566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KW09, Class C, PO, 6/25/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 24011 | &nbsp;&nbsp;&nbsp;&nbsp; 18242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-KW09, Class X2B, IO, 0.10%, 6/25/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 32681 | &nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-KF132, Class CS, 10.19%, 2/25/2032 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7403 | &nbsp;&nbsp;&nbsp;&nbsp; 6872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-KF149, Class CS, 9.94%, 12/25/2032 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6833 | &nbsp;&nbsp;&nbsp;&nbsp; 6967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K724, Class D, PO, 12/25/2049 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 723 | &nbsp;&nbsp;&nbsp;&nbsp; 686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K724, Class X2B, IO, 0.10%, 12/25/2049 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 723 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-89, IO, 0.19%, 12/16/2053 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3913 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-138, Class A, 4.75%, 5/16/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 766 | &nbsp;&nbsp;&nbsp;&nbsp; 761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-53, Class IA, IO, 0.75%, 6/16/2061 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5496 | &nbsp;&nbsp;&nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-169, IO, 1.11%, 6/16/2061 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 10549 | &nbsp;&nbsp;&nbsp;&nbsp; 854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2, IO, 0.59%, 3/16/2062 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6098 | &nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-94, IO, 0.97%, 3/16/2062 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3659 | &nbsp;&nbsp;&nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-89, Class IA, IO, 1.17%, 4/16/2062 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3175 | &nbsp;&nbsp;&nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-169, IO, 0.85%, 7/16/2062 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 16196 | &nbsp;&nbsp;&nbsp;&nbsp; 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-33, IO, 0.84%, 10/16/2062 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7871 | &nbsp;&nbsp;&nbsp;&nbsp; 497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-195, Class IX, IO, 1.13%, 12/16/2062 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1688 | &nbsp;&nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-48, Class FT, 4.00%, 12/16/2062 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1168 | &nbsp;&nbsp;&nbsp;&nbsp; 1047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-145, IO, 0.73%, 3/16/2063 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 52448 | &nbsp;&nbsp;&nbsp;&nbsp; 2717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-41, IO, 0.75%, 4/16/2063 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 12511 | &nbsp;&nbsp;&nbsp;&nbsp; 644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-32, IO, 0.70%, 6/16/2063 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 49666 | &nbsp;&nbsp;&nbsp;&nbsp; 2577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-195, Class IX, IO, 1.21%, 8/16/2063 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 11031 | &nbsp;&nbsp;&nbsp;&nbsp; 990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-78, IO, 1.00%, 11/16/2063 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 74769 | &nbsp;&nbsp;&nbsp;&nbsp; 5493 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-7, Class SA, IF, IO, 3.37%, 2/16/2064 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 14325 | &nbsp;&nbsp;&nbsp;&nbsp; 590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-206, IO, 0.80%, 4/16/2064 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 11913 | &nbsp;&nbsp;&nbsp;&nbsp; 723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-28, IO, 0.86%, 2/16/2065 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 18098 | &nbsp;&nbsp;&nbsp;&nbsp; 1183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-21, IO, 0.95%, 4/16/2065 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 24983 | &nbsp;&nbsp;&nbsp;&nbsp; 1757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-42, IO, 0.54%, 11/16/2065 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 22568 | &nbsp;&nbsp;&nbsp;&nbsp; 1087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-112, IO, 0.57%, 3/16/2066 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 18191 | &nbsp;&nbsp;&nbsp;&nbsp; 933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-202, IO, 0.72%, 9/16/2067 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7131 | &nbsp;&nbsp;&nbsp;&nbsp; 521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-183, IO, 0.73%, 10/16/2067 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7375 | &nbsp;&nbsp;&nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp; GNMA, STRIPS Series 3, Class 23, IO, 1.40%, 9/16/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 5513 | &nbsp;&nbsp;&nbsp;&nbsp; 313 |
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GC28, Class D, 4.57%, 2/10/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1053 | &nbsp;&nbsp;&nbsp;&nbsp; 1008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-GS2, Class D, 2.75%, 5/10/2049 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp; 2393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GS5, Class D, 3.51%, 3/10/2050 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2900 | &nbsp;&nbsp;&nbsp;&nbsp; 371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GS6, Class D, 3.24%, 5/10/2050 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp;&nbsp;&nbsp; 1209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GC30, Class D, 3.38%, 5/10/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GS6, Class C, 4.32%, 5/10/2050 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4330 | &nbsp;&nbsp;&nbsp;&nbsp; 3279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GC40, Class D, 3.00%, 7/10/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3800 | &nbsp;&nbsp;&nbsp;&nbsp; 2723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GC40, Class E, 3.00%, 7/10/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2250 | &nbsp;&nbsp;&nbsp;&nbsp; 1453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GC45, Class D, 2.85%, 2/13/2053 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2824 | &nbsp;&nbsp;&nbsp;&nbsp; 2270 |
| &nbsp;&nbsp;&nbsp; IRV Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-200P, Class A, 5.29%, 3/14/2047 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3400 | &nbsp;&nbsp;&nbsp;&nbsp; 3493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-200P, Class B, 5.44%, 3/14/2047 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-200P, Class C, 5.73%, 3/14/2047 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp; 1720 |
| &nbsp;&nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-C15, Class E, 3.50%, 11/15/2045 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C26, Class C, 4.11%, 1/15/2048 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1926 | &nbsp;&nbsp;&nbsp;&nbsp; 1833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C33, Class C, 4.79%, 12/15/2048 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp;&nbsp;&nbsp; 7631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C1, Class D2, 4.15%, 3/17/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1465 | &nbsp;&nbsp;&nbsp;&nbsp; 1215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C1, Class C, 4.65%, 3/17/2049 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 4825 |
| &nbsp;&nbsp;&nbsp; JPMCC Commercial Mortgage Securities Trust Series 2017-JP5, Class D, 4.50%, 3/15/2050 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7577 | &nbsp;&nbsp;&nbsp;&nbsp; 6314 |
| &nbsp;&nbsp;&nbsp; JPMDB Commercial Mortgage Securities Trust Series 2016-C4, Class D, 3.02%, 12/15/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2514 | &nbsp;&nbsp;&nbsp;&nbsp; 1739 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase Commercial Mortgage Securities Trust Series 2016-JP3, Class D, 3.43%, 8/15/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4500 | &nbsp;&nbsp;&nbsp;&nbsp; 3280 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-C5, Class G, 4.50%, 8/15/2045 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C19, Class D, 3.25%, 12/15/2047 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1866 | &nbsp;&nbsp;&nbsp;&nbsp; 1833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C31, Class C, 4.24%, 11/15/2049 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1440 | &nbsp;&nbsp;&nbsp;&nbsp; 1336 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-MP, Class D, 4.28%, 7/11/2040 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 730 | &nbsp;&nbsp;&nbsp;&nbsp; 599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-L1, Class E, 3.00%, 10/15/2051 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5486 | &nbsp;&nbsp;&nbsp;&nbsp; 4382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-L2, Class D, 3.00%, 3/15/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7075 | &nbsp;&nbsp;&nbsp;&nbsp; 5615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-L2, Class E, 3.00%, 3/15/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2575 | &nbsp;&nbsp;&nbsp;&nbsp; 1924 |
| &nbsp;&nbsp;&nbsp; MRCD MARK Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-PARK, Class F, 2.72%, 12/15/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 6750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-PARK, Class G, 2.72%, 12/15/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 2169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-PARK, Class J, 4.25%, 12/15/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 17000 | &nbsp;&nbsp;&nbsp;&nbsp; 8361 |
| &nbsp;&nbsp;&nbsp; Multi-Family Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-01, Class M10, 7.06%, 10/25/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3504 | &nbsp;&nbsp;&nbsp;&nbsp; 3559 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-01, Class M10, 7.56%, 3/25/2050 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7958 | &nbsp;&nbsp;&nbsp;&nbsp; 8078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01, Class M10, 7.55%, 7/25/2054 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 5138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01, Class M1, 6.10%, 5/25/2055 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3398 | &nbsp;&nbsp;&nbsp;&nbsp; 3448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01, Class M2, 6.80%, 5/25/2055 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2510 | &nbsp;&nbsp;&nbsp;&nbsp; 2504 |
| &nbsp;&nbsp;&nbsp; NYC Commercial Mortgage Trust Series 2021-909, Class E, 3.21%, 4/10/2043 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 3780 |
| &nbsp;&nbsp;&nbsp; ROCK Trust Series 2024-CNTR, Class E, 8.82%, 11/13/2041 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8925 | &nbsp;&nbsp;&nbsp;&nbsp; 9488 |
| &nbsp;&nbsp;&nbsp; VASA Trust Series 2021-VASA, Class G, 8.80%, 7/15/2039 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1360 | &nbsp;&nbsp;&nbsp;&nbsp; 975 |
| &nbsp;&nbsp;&nbsp; Velocity Commercial Capital Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class A, 4.05%, 10/26/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 985 | &nbsp;&nbsp;&nbsp;&nbsp; 968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class M2, 4.51%, 10/26/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class M3, 4.72%, 10/26/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 147 | &nbsp;&nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SAVE, Class E, 7.55%, 2/15/2040 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 1597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-NXS1, Class E, 2.88%, 5/15/2048 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C28, Class D, 4.14%, 5/15/2048 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3515 | &nbsp;&nbsp;&nbsp;&nbsp; 3374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C35, Class D, 3.14%, 7/15/2048 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 4750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C38, Class D, 3.00%, 7/15/2050 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp; 1336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C43, Class D, 3.00%, 3/15/2051 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C44, Class D, 3.00%, 5/15/2051 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1517 | &nbsp;&nbsp;&nbsp;&nbsp; 1105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C52, Class XA, IO, 1.56%, 8/15/2052 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5797 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; WFRBS Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C21, Class D, 3.50%, 8/15/2047 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp; 1508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C22, Class D, 3.78%, 9/15/2057 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5505 | &nbsp;&nbsp;&nbsp;&nbsp; 2074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Mortgage-Backed Securities <br>(Cost $415,151)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 379422 |
| **Foreign Government Securities — 3.6%** | **Foreign Government Securities — 3.6%** | **Foreign Government Securities — 3.6%** |
| **Angola — 0.1%** | **Angola — 0.1%** | **Angola — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Angola |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 5/9/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/26/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1550 | &nbsp;&nbsp;&nbsp;&nbsp; 1521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/26/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 380 | &nbsp;&nbsp;&nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.24%, 1/15/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1900 | &nbsp;&nbsp;&nbsp;&nbsp; 1917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 4/14/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1670 | &nbsp;&nbsp;&nbsp;&nbsp; 1628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 10/15/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 1602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 11/26/2049 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2090 | &nbsp;&nbsp;&nbsp;&nbsp; 1807 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10256 |
| **Argentina — 0.4%** | **Argentina — 0.4%** | **Argentina — 0.4%** |
| &nbsp;&nbsp;&nbsp; Argentine Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 7/9/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2650 | &nbsp;&nbsp;&nbsp;&nbsp; 2338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 7/9/2030 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 4097 | &nbsp;&nbsp;&nbsp;&nbsp; 3474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.76%, 7/9/2030 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 3980 | &nbsp;&nbsp;&nbsp;&nbsp; 2343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 7/9/2035 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 13576 | &nbsp;&nbsp;&nbsp;&nbsp; 10535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/9/2038 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 8291 | &nbsp;&nbsp;&nbsp;&nbsp; 6674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 7/9/2041 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 5045 | &nbsp;&nbsp;&nbsp;&nbsp; 3658 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Argentina—continued** | **Argentina—continued** | **Argentina—continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 7/9/2046 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 5423 | &nbsp;&nbsp;&nbsp;&nbsp; 3983 |
| &nbsp;&nbsp;&nbsp; Provincia de Cordoba 8.60%, 2/3/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1991 | &nbsp;&nbsp;&nbsp;&nbsp; 1955 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 34960 |
| **Bahamas — 0.0% ^** | **Bahamas — 0.0% ^** | **Bahamas — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Commonwealth of the Bahamas 8.25%, 6/24/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 937 | &nbsp;&nbsp;&nbsp;&nbsp; 1048 |
| **Bahrain — 0.1%** | **Bahrain — 0.1%** | **Bahrain — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Bahrain |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/20/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 9/16/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 481 | &nbsp;&nbsp;&nbsp;&nbsp; 456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/6/2037 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2250 | &nbsp;&nbsp;&nbsp;&nbsp; 2171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 9/20/2047 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1590 | &nbsp;&nbsp;&nbsp;&nbsp; 1580 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4412 |
| **Barbados — 0.0% ^** | **Barbados — 0.0% ^** | **Barbados — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Barbados Government Bond 8.00%, 6/26/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1931 | &nbsp;&nbsp;&nbsp;&nbsp; 2068 |
| **Benin — 0.0% ^** | **Benin — 0.0% ^** | **Benin — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Benin Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.96%, 2/13/2038 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1332 | &nbsp;&nbsp;&nbsp;&nbsp; 1393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.96%, 2/13/2038 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 1/23/2041 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 747 | &nbsp;&nbsp;&nbsp;&nbsp; 790 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3228 |
| **Bolivia, Plurinational State of — 0.0% ^** | **Bolivia, Plurinational State of — 0.0% ^** | **Bolivia, Plurinational State of — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Plurinational State of Bolivia 4.50%, 3/20/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp; 1602 |
| **Brazil — 0.0% ^** | **Brazil — 0.0% ^** | **Brazil — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/27/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 1230 | &nbsp;&nbsp;&nbsp;&nbsp; 985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/14/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 620 | &nbsp;&nbsp;&nbsp;&nbsp; 456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 5/13/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 1155 | &nbsp;&nbsp;&nbsp;&nbsp; 1153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2594 |
| **Cameroon — 0.0% ^** | **Cameroon — 0.0% ^** | **Cameroon — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Cameroon 9.50%, 7/31/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp;&nbsp;&nbsp; 2304 |
| **Colombia — 0.2%** | **Colombia — 0.2%** | **Colombia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 1/21/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 959 | &nbsp;&nbsp;&nbsp;&nbsp; 958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 4/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp; 695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 4/20/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 2950 | &nbsp;&nbsp;&nbsp;&nbsp; 3174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 9/18/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 1/18/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp; 842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 6/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 1990 | &nbsp;&nbsp;&nbsp;&nbsp; 1469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 5/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 11/14/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 2502 | &nbsp;&nbsp;&nbsp;&nbsp; 2750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 11/7/2054 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3590 | &nbsp;&nbsp;&nbsp;&nbsp; 3794 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15014 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Costa Rica — 0.0% ^** | **Costa Rica — 0.0% ^** | **Costa Rica — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Costa Rica 7.30%, 11/13/2054 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 819 | &nbsp;&nbsp;&nbsp;&nbsp; 913 |
| **Dominican Republic — 0.2%** | **Dominican Republic — 0.2%** | **Dominican Republic — 0.2%** |
| &nbsp;&nbsp;&nbsp; Dominican Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 2/3/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1330 | &nbsp;&nbsp;&nbsp;&nbsp; 1426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/23/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1090 | &nbsp;&nbsp;&nbsp;&nbsp; 1044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/23/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp; 766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/28/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3980 | &nbsp;&nbsp;&nbsp;&nbsp; 3972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 4/30/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1580 | &nbsp;&nbsp;&nbsp;&nbsp; 1741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 1/27/2045 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 2/15/2048 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1950 | &nbsp;&nbsp;&nbsp;&nbsp; 1950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 6/5/2049 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp; 1040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.15%, 2/24/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/30/2060 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp; 783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/30/2060 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 620 | &nbsp;&nbsp;&nbsp;&nbsp; 552 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15931 |
| **Ecuador — 0.3%** | **Ecuador — 0.3%** | **Ecuador — 0.3%** |
| &nbsp;&nbsp;&nbsp; Republic of Ecuador |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 7/31/2030 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 1342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 1/29/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1766 | &nbsp;&nbsp;&nbsp;&nbsp; 1785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 7/31/2035 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2666 | &nbsp;&nbsp;&nbsp;&nbsp; 2439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 1/29/2039 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8822 | &nbsp;&nbsp;&nbsp;&nbsp; 9065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/31/2040 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 9412 | &nbsp;&nbsp;&nbsp;&nbsp; 7774 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 22405 |
| **Egypt — 0.3%** | **Egypt — 0.3%** | **Egypt — 0.3%** |
| &nbsp;&nbsp;&nbsp; Arab Republic of Egypt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 2/16/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5950 | &nbsp;&nbsp;&nbsp;&nbsp; 5789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 1/15/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp; 891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 1/15/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4450 | &nbsp;&nbsp;&nbsp;&nbsp; 4506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 5/29/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp; 1345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.45%, 2/4/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1175 | &nbsp;&nbsp;&nbsp;&nbsp; 1322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 9/30/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.70%, 3/1/2049 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5470 | &nbsp;&nbsp;&nbsp;&nbsp; 5350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.70%, 3/1/2049 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1520 | &nbsp;&nbsp;&nbsp;&nbsp; 1487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 5/29/2050 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4050 | &nbsp;&nbsp;&nbsp;&nbsp; 3996 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 25590 |
| **El Salvador — 0.1%** | **El Salvador — 0.1%** | **El Salvador — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of El Salvador |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 2/28/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1119 | &nbsp;&nbsp;&nbsp;&nbsp; 1198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 4/17/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1395 | &nbsp;&nbsp;&nbsp;&nbsp; 1513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 4/17/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 620 | &nbsp;&nbsp;&nbsp;&nbsp; 673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 7/15/2052 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.65%, 11/21/2054 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1628 | &nbsp;&nbsp;&nbsp;&nbsp; 1858 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6662 |
| **Ethiopia — 0.0% ^** | **Ethiopia — 0.0% ^** | **Ethiopia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Federal Democratic Republic of Ethiopia 6.63%, 12/11/2024 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 1321 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Gabon — 0.0% ^** | **Gabon — 0.0% ^** | **Gabon — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Gabonese Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 2/18/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 2/6/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1723 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2568 |
| **Ghana — 0.1%** | **Ghana — 0.1%** | **Ghana — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Ghana |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 7/3/2026 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/3/2029 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1604 | &nbsp;&nbsp;&nbsp;&nbsp; 1568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/3/2035 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 3410 | &nbsp;&nbsp;&nbsp;&nbsp; 3103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/3/2035 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 3600 | &nbsp;&nbsp;&nbsp;&nbsp; 3276 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7991 |
| **Honduras — 0.1%** | **Honduras — 0.1%** | **Honduras — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Honduras |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/19/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp; 1061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 11/27/2034 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1190 | &nbsp;&nbsp;&nbsp;&nbsp; 1370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 11/27/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 1842 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4273 |
| **Iraq — 0.0% ^** | **Iraq — 0.0% ^** | **Iraq — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Iraq 5.80%, 1/15/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1244 | &nbsp;&nbsp;&nbsp;&nbsp; 1239 |
| **Ivory Coast — 0.1%** | **Ivory Coast — 0.1%** | **Ivory Coast — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Cote d'Ivoire |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 1/30/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 820 | &nbsp;&nbsp;&nbsp;&nbsp; 875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/15/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5240 | &nbsp;&nbsp;&nbsp;&nbsp; 5170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.08%, 4/1/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1383 | &nbsp;&nbsp;&nbsp;&nbsp; 1476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/30/2037 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 532 | &nbsp;&nbsp;&nbsp;&nbsp; 572 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8093 |
| **Jordan — 0.1%** | **Jordan — 0.1%** | **Jordan — 0.1%** |
| &nbsp;&nbsp;&nbsp; Hashemite Kingdom of Jordan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 1/15/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 1/13/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp; 838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 7/7/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 7/7/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1810 | &nbsp;&nbsp;&nbsp;&nbsp; 1815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/12/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3075 | &nbsp;&nbsp;&nbsp;&nbsp; 3011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/10/2047 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2770 | &nbsp;&nbsp;&nbsp;&nbsp; 2742 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9745 |
| **Kenya — 0.1%** | **Kenya — 0.1%** | **Kenya — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Kenya |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 2/16/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1646 | &nbsp;&nbsp;&nbsp;&nbsp; 1820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 10/9/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1890 | &nbsp;&nbsp;&nbsp;&nbsp; 1900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 3/5/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2316 | &nbsp;&nbsp;&nbsp;&nbsp; 2476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.80%, 10/9/2038 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3328 | &nbsp;&nbsp;&nbsp;&nbsp; 3371 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9567 |
| **Kyrgyzstan — 0.0% ^** | **Kyrgyzstan — 0.0% ^** | **Kyrgyzstan — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Kyrgyz Republic International Bond 7.75%, 6/3/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1960 | &nbsp;&nbsp;&nbsp;&nbsp; 2033 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Lebanon — 0.1%** | **Lebanon — 0.1%** | **Lebanon — 0.1%** |
| &nbsp;&nbsp;&nbsp; Lebanese Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 4/22/2024 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 4485 | &nbsp;&nbsp;&nbsp;&nbsp; 1297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 11/27/2026 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 9774 | &nbsp;&nbsp;&nbsp;&nbsp; 2825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 3/23/2027 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 6644 | &nbsp;&nbsp;&nbsp;&nbsp; 1922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 11/3/2028 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 7135 | &nbsp;&nbsp;&nbsp;&nbsp; 2063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 2/26/2030 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 5340 | &nbsp;&nbsp;&nbsp;&nbsp; 1550 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9657 |
| **Mexico — 0.0% ^** | **Mexico — 0.0% ^** | **Mexico — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; United Mexican States 6.13%, 2/9/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 1135 | &nbsp;&nbsp;&nbsp;&nbsp; 1133 |
| **Mongolia — 0.0% ^** | **Mongolia — 0.0% ^** | **Mongolia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; State of Mongolia 4.45%, 7/7/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp;&nbsp;&nbsp; 748 |
| **Montenegro — 0.0% ^** | **Montenegro — 0.0% ^** | **Montenegro — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Montenegro 7.25%, 3/12/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 744 |
| **Mozambique — 0.0% ^** | **Mozambique — 0.0% ^** | **Mozambique — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Mozambique 9.00%, 9/15/2031 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 606 |
| **Nigeria — 0.2%** | **Nigeria — 0.2%** | **Nigeria — 0.2%** |
| &nbsp;&nbsp;&nbsp; Federal Republic of Nigeria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/28/2027 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1220 | &nbsp;&nbsp;&nbsp;&nbsp; 1236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 3/24/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp; 1383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 1/21/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 780 | &nbsp;&nbsp;&nbsp;&nbsp; 849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 6/9/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 9/28/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1620 | &nbsp;&nbsp;&nbsp;&nbsp; 1636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.38%, 12/9/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp; 1535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 1/13/2036 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 1/13/2046 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2490 | &nbsp;&nbsp;&nbsp;&nbsp; 2671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 11/28/2047 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp; 1122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 11/28/2047 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1290 | &nbsp;&nbsp;&nbsp;&nbsp; 1206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 9/28/2051 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1958 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15652 |
| **Pakistan — 0.1%** | **Pakistan — 0.1%** | **Pakistan — 0.1%** |
| &nbsp;&nbsp;&nbsp; Islamic Republic of Pakistan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/8/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3200 | &nbsp;&nbsp;&nbsp;&nbsp; 3197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 4/8/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 554 | &nbsp;&nbsp;&nbsp;&nbsp; 558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 4/8/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 1359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 4/8/2051 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2567 | &nbsp;&nbsp;&nbsp;&nbsp; 2577 |
| &nbsp;&nbsp;&nbsp; Pakistan Water & Power Development Authority 7.50%, 6/4/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 634 | &nbsp;&nbsp;&nbsp;&nbsp; 617 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8308 |
| **Paraguay — 0.1%** | **Paraguay — 0.1%** | **Paraguay — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Paraguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 8/11/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1730 | &nbsp;&nbsp;&nbsp;&nbsp; 1768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 3/30/2050 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp; 877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 3/30/2050 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp; 1938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 3/4/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1016 | &nbsp;&nbsp;&nbsp;&nbsp; 1089 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5672 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Rwanda — 0.0% ^** | **Rwanda — 0.0% ^** | **Rwanda — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Rwanda 5.50%, 8/9/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 932 |
| **Senegal — 0.1%** | **Senegal — 0.1%** | **Senegal — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Senegal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 6/10/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4750 | &nbsp;&nbsp;&nbsp;&nbsp; 2863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/23/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp;&nbsp;&nbsp; 1494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/13/2048 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp; 641 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4998 |
| **South Africa — 0.2%** | **South Africa — 0.2%** | **South Africa — 0.2%** |
| &nbsp;&nbsp;&nbsp; Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 11/19/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 625 | &nbsp;&nbsp;&nbsp;&nbsp; 663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 11/19/2036 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3600 | &nbsp;&nbsp;&nbsp;&nbsp; 3820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/11/2037 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp; 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/12/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 6/22/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 2700 | &nbsp;&nbsp;&nbsp;&nbsp; 2421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 9/30/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 2170 | &nbsp;&nbsp;&nbsp;&nbsp; 1783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 4/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 11/19/2054 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2514 | &nbsp;&nbsp;&nbsp;&nbsp; 2635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 12/11/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1034 | &nbsp;&nbsp;&nbsp;&nbsp; 1004 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 13950 |
| **Sri Lanka — 0.1%** | **Sri Lanka — 0.1%** | **Sri Lanka — 0.1%** |
| &nbsp;&nbsp;&nbsp; Democratic Socialist Republic of Sri Lanka |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1237 | &nbsp;&nbsp;&nbsp;&nbsp; 1208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 3/15/2033 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1366 | &nbsp;&nbsp;&nbsp;&nbsp; 1253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 6/15/2035 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp;&nbsp;&nbsp; 1470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 6/15/2035 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp; 1715 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5646 |
| **Suriname — 0.1%** | **Suriname — 0.1%** | **Suriname — 0.1%** |
| &nbsp;&nbsp;&nbsp; Suriname Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.70%, 11/6/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1975 | &nbsp;&nbsp;&nbsp;&nbsp; 2048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 11/6/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2625 | &nbsp;&nbsp;&nbsp;&nbsp; 2828 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4876 |
| **Turkey — 0.1%** | **Turkey — 0.1%** | **Turkey — 0.1%** |
| &nbsp;&nbsp;&nbsp; Istanbul Metropolitan Municipality 10.50%, 12/6/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3146 | &nbsp;&nbsp;&nbsp;&nbsp; 3447 |
| &nbsp;&nbsp;&nbsp; Republic of Turkiye (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 7/13/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 1020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 1/19/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1618 | &nbsp;&nbsp;&nbsp;&nbsp; 1879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 5/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp; 1381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/14/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 1040 | &nbsp;&nbsp;&nbsp;&nbsp; 921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 4/16/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp; 841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/11/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 620 | &nbsp;&nbsp;&nbsp;&nbsp; 498 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9987 |
| **Ukraine — 0.2%** | **Ukraine — 0.2%** | **Ukraine — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ukraine Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/1/2029 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1945 | &nbsp;&nbsp;&nbsp;&nbsp; 1509 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Ukraine—continued** | **Ukraine—continued** | **Ukraine—continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/1/2032 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2961 | &nbsp;&nbsp;&nbsp;&nbsp; 2354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 2/1/2034 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2700 | &nbsp;&nbsp;&nbsp;&nbsp; 1316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/1/2034 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 4530 | &nbsp;&nbsp;&nbsp;&nbsp; 2845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 2/1/2035 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 5570 | &nbsp;&nbsp;&nbsp;&nbsp; 3142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/1/2035 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2450 | &nbsp;&nbsp;&nbsp;&nbsp; 1509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 2/1/2036 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 7020 | &nbsp;&nbsp;&nbsp;&nbsp; 3921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 2/1/2036 (b) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 3385 | &nbsp;&nbsp;&nbsp;&nbsp; 2055 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18651 |
| **Venezuela, Bolivarian Republic of — 0.1%** | **Venezuela, Bolivarian Republic of — 0.1%** | **Venezuela, Bolivarian Republic of — 0.1%** |
| &nbsp;&nbsp;&nbsp; Bolivarian Republic of Venezuela |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.65%, 4/21/2025 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 6030 | &nbsp;&nbsp;&nbsp;&nbsp; 2177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.75%, 10/21/2026 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 6920 | &nbsp;&nbsp;&nbsp;&nbsp; 3014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 5/7/2028 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.95%, 8/5/2031 (b) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 3660 | &nbsp;&nbsp;&nbsp;&nbsp; 1599 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7073 |
| **Zambia — 0.0% ^** | **Zambia — 0.0% ^** | **Zambia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Zambia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 6/30/2033 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1141 | &nbsp;&nbsp;&nbsp;&nbsp; 1116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 12/31/2053 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1900 | &nbsp;&nbsp;&nbsp;&nbsp; 1364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 12/31/2053 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1084 | &nbsp;&nbsp;&nbsp;&nbsp; 778 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government Securities <br>(Cost $287,653)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 307708 |
| **Collateralized Mortgage Obligations — 3.4%** | **Collateralized Mortgage Obligations — 3.4%** | **Collateralized Mortgage Obligations — 3.4%** |
| **United States — 3.4%** | **United States — 3.4%** | **United States — 3.4%** |
| &nbsp;&nbsp;&nbsp; Adjustable Rate Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class 6A1, 5.50%, 2/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class 3A1, 6.74%, 6/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 231 | &nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp; Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-28CB, Class 4A1, 5.00%, 1/25/2020 | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-50CB, Class 4A1, 5.00%, 11/25/2020 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-85CB, Class 3A2, 5.25%, 2/25/2021 | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-9T1, Class 3A1, 5.50%, 5/25/2022 ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J6, Class 2A1, 5.50%, 7/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J1, Class 3A1, 6.50%, 8/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-12CB, Class 2A1, 6.00%, 6/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-28CB, Class 2A4, 5.75%, 1/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 233 | &nbsp;&nbsp;&nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-28CB, Class 6A1, 6.00%, 1/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 277 | &nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-32CB, Class 2A5, 5.50%, 2/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 880 | &nbsp;&nbsp;&nbsp;&nbsp; 873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J2, Class 1A5, 4.29%, 4/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2784 | &nbsp;&nbsp;&nbsp;&nbsp; 2144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6CB, Class 1A4, 5.50%, 4/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1601 | &nbsp;&nbsp;&nbsp;&nbsp; 1358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6CB, Class 1A6, 5.50%, 4/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 192 | &nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-13CB, Class A4, 5.50%, 5/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 643 | &nbsp;&nbsp;&nbsp;&nbsp; 555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-21CB, Class A4, 5.25%, 6/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 354 | &nbsp;&nbsp;&nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-21CB, Class A17, 6.00%, 6/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1575 | &nbsp;&nbsp;&nbsp;&nbsp; 1230 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-20CB, Class 1A1, 5.50%, 7/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-23CB, Class A15, 5.50%, 7/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 805 | &nbsp;&nbsp;&nbsp;&nbsp; 649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-64CB, Class 1A1, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 267 | &nbsp;&nbsp;&nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-64CB, Class 1A15, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 676 | &nbsp;&nbsp;&nbsp;&nbsp; 600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J14, Class A3, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J14, Class A7, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1007 | &nbsp;&nbsp;&nbsp;&nbsp; 590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J14, Class A8, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 841 | &nbsp;&nbsp;&nbsp;&nbsp; 493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-86CB, Class A4, 5.50%, 2/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 255 | &nbsp;&nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J1, Class 1A13, 5.50%, 2/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4CB, Class 2A5, 5.50%, 4/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 430 | &nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-14CB, Class A1, 6.00%, 6/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 1062 | &nbsp;&nbsp;&nbsp;&nbsp; 554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-19CB, Class A15, 6.00%, 8/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 382 | &nbsp;&nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-25CB, Class A2, 6.00%, 10/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp;&nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-41CB, Class 2A13, 5.75%, 1/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 2075 | &nbsp;&nbsp;&nbsp;&nbsp; 979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-8CB, Class A9, 6.00%, 5/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-19, Class 1A8, 6.00%, 8/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; American Home Mortgage Investment Trust Series 2007-2, Class 12A1, 4.33%, 3/25/2037 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3893 | &nbsp;&nbsp;&nbsp;&nbsp; 1349 |
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-5, Class B1, 3.96%, 10/25/2049 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6250 | &nbsp;&nbsp;&nbsp;&nbsp; 5902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-6, Class B3, 5.96%, 11/25/2059 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1285 | &nbsp;&nbsp;&nbsp;&nbsp; 1169 |
| &nbsp;&nbsp;&nbsp; Banc of America Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4, Class 2A1, 6.00%, 3/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11, Class 4A5, 5.75%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 243 | &nbsp;&nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4, Class 3CB4, 6.00%, 5/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 304 | &nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4, Class 4CB1, 6.50%, 5/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 568 | &nbsp;&nbsp;&nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5, Class CB7, 6.00%, 6/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp; Banc of America Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4, Class 8A1, 5.50%, 11/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6, Class 1A2, 5.50%, 10/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 881 | &nbsp;&nbsp;&nbsp;&nbsp; 714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-7, Class 4A7, 6.00%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A, Class 1A1, 5.71%, 2/20/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 213 | &nbsp;&nbsp;&nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-2, Class 2A20, 5.75%, 3/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-5, Class 4A1, 4.16%, 7/25/2037 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1686 | &nbsp;&nbsp;&nbsp;&nbsp; 1177 |
| &nbsp;&nbsp;&nbsp; Banc of America Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-A, Class 2A2, 5.53%, 2/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class 1A1, 6.00%, 9/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; Bear Stearns ALT-A Trust Series 2006-8, Class 3A1, 4.11%, 2/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp; Bear Stearns Asset-Backed Securities I Trust Series 2004-AC5, Class M1, 4.46%, 10/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp; BRAVO Residential Funding Trust Series 2023-NQM5, Class B1, 7.30%, 6/25/2063 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1263 | &nbsp;&nbsp;&nbsp;&nbsp; 1270 |
| &nbsp;&nbsp;&nbsp; Chase Mortgage Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S3, Class 1A2, 6.00%, 11/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 1045 | &nbsp;&nbsp;&nbsp;&nbsp; 426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S4, Class A5, 6.00%, 12/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 812 | &nbsp;&nbsp;&nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-S2, Class 1A8, 6.00%, 3/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-20, Class A7, 5.25%, 12/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-25, Class 2A1, 4.47%, 2/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1410 | &nbsp;&nbsp;&nbsp;&nbsp; 1326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-26, Class 1A11, 5.50%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 909 | &nbsp;&nbsp;&nbsp;&nbsp; 520 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-31, Class 2A1, 4.35%, 1/25/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-30, Class A5, 5.50%, 1/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HYB1, Class 2A2C, 4.47%, 3/20/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1037 | &nbsp;&nbsp;&nbsp;&nbsp; 982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HYB2, Class 2A1B, 4.52%, 4/20/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 340 | &nbsp;&nbsp;&nbsp;&nbsp; 313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J2, Class 1A1, 6.00%, 4/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-10, Class 1A16, 6.00%, 5/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 941 | &nbsp;&nbsp;&nbsp;&nbsp; 351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-17, Class A2, 6.00%, 12/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 280 | &nbsp;&nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-18, Class 2A4, 6.00%, 12/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 1586 | &nbsp;&nbsp;&nbsp;&nbsp; 803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-2, Class A2, 6.00%, 3/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class A18, 6.00%, 4/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 772 | &nbsp;&nbsp;&nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-10, Class A4, 5.50%, 7/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-13, Class A4, 6.00%, 8/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp;&nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-16, Class A1, 6.50%, 10/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1807 | &nbsp;&nbsp;&nbsp;&nbsp; 723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-18, Class 2A1, 6.50%, 11/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 414 | &nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA5, Class 2A1, 4.19%, 4/25/2046 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1352 | &nbsp;&nbsp;&nbsp;&nbsp; 1194 |
| &nbsp;&nbsp;&nbsp; Citi Asset Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6, Class CERT, 0.00%, 9/20/2031 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-7, Class CERT, 0.00%, 10/20/2031 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 173 | &nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; Citi Asset Receivables Trust I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class CERT, 0.00%, 6/20/2031 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 360 | &nbsp;&nbsp;&nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class CERT, 0.00%, 7/20/2031 ‡ (d) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5, Class CERT, 0.00%, 8/20/2031 ‡ (d) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-8, Class CERT, 0.00%, 11/20/2031 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp;&nbsp;&nbsp; 219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-9, Class CERT, 0.00%, 12/20/2031 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-10, Class CERT, 0.00%, 1/20/2032 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 266 | &nbsp;&nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-1, Class CERT, 0.00%, 2/20/2032 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 284 | &nbsp;&nbsp;&nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp; CITI Asset Receivables Trust I Series 2025-2, Class CERT, 0.00%, 5/20/2031 ‡ (d) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp; Citicorp Mortgage Securities Trust Series 2007-4, Class 1A9, 6.00%, 5/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-9, Class 2A2, 5.50%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR3, Class 1A1A, 5.66%, 6/25/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 725 | &nbsp;&nbsp;&nbsp;&nbsp; 683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR5, Class 1A5A, 4.87%, 7/25/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 278 | &nbsp;&nbsp;&nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6, Class A1, 5.75%, 9/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-8, Class A3, 4.14%, 10/25/2035 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp; COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class B1, 3.06%, 9/27/2066 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 1903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class B2, 4.20%, 11/26/2066 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2247 | &nbsp;&nbsp;&nbsp;&nbsp; 1858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class B2, 4.09%, 12/27/2066 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2581 | &nbsp;&nbsp;&nbsp;&nbsp; 2243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2, Class A1, 6.60%, 7/25/2068 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1481 | &nbsp;&nbsp;&nbsp;&nbsp; 1488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4, Class A1, 7.16%, 10/25/2068 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2773 | &nbsp;&nbsp;&nbsp;&nbsp; 2809 |
| &nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Series 2025-R01, Class 1B1, 5.40%, 1/25/2045 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 1595 |
| &nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-R04, Class 2B1, 9.06%, 6/25/2039 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2008 | &nbsp;&nbsp;&nbsp;&nbsp; 2039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-R05, Class 1B1, 7.91%, 7/25/2039 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-R06, Class 2B1, 7.56%, 9/25/2039 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3528 | &nbsp;&nbsp;&nbsp;&nbsp; 3584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-R07, Class 1B1, 7.21%, 10/25/2039 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6614 | &nbsp;&nbsp;&nbsp;&nbsp; 6717 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HRP1, Class B1, 13.06%, 11/25/2039 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3823 | &nbsp;&nbsp;&nbsp;&nbsp; 4036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-R02, Class 2B1, 6.81%, 1/25/2040 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7158 | &nbsp;&nbsp;&nbsp;&nbsp; 7274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-R01, Class 1B1, 7.06%, 1/25/2040 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R01, Class 1B1, 6.80%, 10/25/2041 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5200 | &nbsp;&nbsp;&nbsp;&nbsp; 5278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R02, Class 1M2, 5.50%, 2/25/2044 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp; 7042 |
| &nbsp;&nbsp;&nbsp; CSFB Mortgage-Backed Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 11A1, 5.50%, 11/25/2020 | &nbsp;&nbsp;&nbsp;&nbsp; 572 | &nbsp;&nbsp;&nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR4, Class 2A1, 5.10%, 5/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR4, Class 4A1, 6.15%, 5/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 601 | &nbsp;&nbsp;&nbsp;&nbsp; 613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR5, Class 6A1, 5.95%, 6/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-4, Class 4A1, 5.50%, 8/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 577 | &nbsp;&nbsp;&nbsp;&nbsp; 595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4, Class 2A5, 4.34%, 6/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1701 | &nbsp;&nbsp;&nbsp;&nbsp; 1084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 5A3, 5.50%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 214 | &nbsp;&nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; CSMC Mortgage-Backed Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-8, Class 5A1, 5.18%, 10/25/2026 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-2, Class 3A13, 5.50%, 3/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; Deephaven Residential Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class B2, 4.13%, 8/25/2066 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4502 | &nbsp;&nbsp;&nbsp;&nbsp; 3532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4, Class B1, 4.16%, 11/25/2066 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp; 4967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4, Class B2, 4.42%, 11/25/2066 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6508 | &nbsp;&nbsp;&nbsp;&nbsp; 5349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class B1, 4.26%, 1/25/2067 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 2568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class B2, 4.26%, 1/25/2067 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5640 | &nbsp;&nbsp;&nbsp;&nbsp; 4446 |
| &nbsp;&nbsp;&nbsp; Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2005-1, Class 2A1, 3.41%, 2/25/2020 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp; DSLA Mortgage Loan Trust Series 2005-AR4, Class 2A1A, 4.31%, 8/19/2045 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 994 | &nbsp;&nbsp;&nbsp;&nbsp; 898 |
| &nbsp;&nbsp;&nbsp; FHLMC Seasoned Credit Risk Transfer Trust Series 2017-3, Class A, IO, 0.00%, 7/25/2056 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 163741 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; FHLMC STACR REMIC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-HQA1, Class B2, 8.70%, 8/25/2033 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3150 | &nbsp;&nbsp;&nbsp;&nbsp; 3715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA2, Class B2, 9.70%, 8/25/2033 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 3748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-HQA2, Class B2, 9.15%, 12/25/2033 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp; 1453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA5, Class B2, 9.20%, 1/25/2034 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA6, Class B2, 11.20%, 10/25/2041 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-HQA2, Class M1A, 6.35%, 7/25/2042 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 9200 | &nbsp;&nbsp;&nbsp;&nbsp; 9374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-HQA3, Class M1A, 6.00%, 8/25/2042 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 12086 | &nbsp;&nbsp;&nbsp;&nbsp; 12286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-HQA2, Class M2, 7.55%, 6/25/2043 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2800 | &nbsp;&nbsp;&nbsp;&nbsp; 2952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-DNA2, Class M1, 4.90%, 5/25/2044 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2792 | &nbsp;&nbsp;&nbsp;&nbsp; 2799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-DNA5, Class B2, 15.20%, 10/25/2050 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp;&nbsp; 4225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA1, Class B2, 8.45%, 1/25/2051 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3800 | &nbsp;&nbsp;&nbsp;&nbsp; 4246 |
| &nbsp;&nbsp;&nbsp; FHLMC, REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5516, Class BZ, 5.50%, 3/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 2314 | &nbsp;&nbsp;&nbsp;&nbsp; 2315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5623, Class ZA, 5.50%, 2/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp; 517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5632, Class UZ, 5.50%, 2/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp; 1039 |
| &nbsp;&nbsp;&nbsp; First Horizon Alternative Mortgage Securities Trust Series 2006-FA6, Class 3A1, 5.75%, 11/25/2021 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; FNMA, REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-98, Class UZ, 6.00%, 8/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 1215 | &nbsp;&nbsp;&nbsp;&nbsp; 1211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-106, Class UZ, 5.50%, 12/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp; 517 |
| &nbsp;&nbsp;&nbsp; GCAT Trust Series 2020-NQM1, Class B1, 3.64%, 1/25/2060 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 2645 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; GMACM Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR2, Class 3A, 4.52%, 8/19/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR1, Class 3A, 3.87%, 3/18/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp; GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-208, Class ZG, 4.50%, 12/20/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 1907 | &nbsp;&nbsp;&nbsp;&nbsp; 1851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-2, Class AZ, 4.50%, 1/20/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-2, Class GZ, 4.50%, 1/20/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 1640 | &nbsp;&nbsp;&nbsp;&nbsp; 1559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-3, Class ZH, 5.50%, 1/20/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp;&nbsp;&nbsp; 1144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/16/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp;&nbsp; 2086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-139, Class UZ, 5.00%, 3/20/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 1798 | &nbsp;&nbsp;&nbsp;&nbsp; 1690 |
| &nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PJ7, Class A1, 6.00%, 12/25/2055 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2580 | &nbsp;&nbsp;&nbsp;&nbsp; 2620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PJ9, Class A1, 6.00%, 3/25/2056 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5547 | &nbsp;&nbsp;&nbsp;&nbsp; 5622 |
| &nbsp;&nbsp;&nbsp; GSMSC Pass-Through Trust Series 2008-2R, Class 2A1, 7.50%, 10/25/2036 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1195 | &nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp; GSR Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-15F, Class 1A2, 5.50%, 12/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1F, Class 2A3, 6.00%, 2/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp;&nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR3, Class 6A1, 4.23%, 5/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR4, Class 3A5, 5.15%, 7/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 805 | &nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6F, Class 3A18, 5.50%, 7/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR7, Class 6A1, 4.12%, 11/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1F, Class 2A16, 6.00%, 2/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 468 | &nbsp;&nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1F, Class 2A9, 6.00%, 2/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 758 | &nbsp;&nbsp;&nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-9F, Class 3A1, 6.25%, 10/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 318 | &nbsp;&nbsp;&nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1F, Class 3A13, 6.00%, 1/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 192 | &nbsp;&nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp; HarborView Mortgage Loan Trust Series 2005-11, Class 2A1A, 4.41%, 8/19/2045 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; Impac CMB Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-10, Class 2A, 4.43%, 3/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 253 | &nbsp;&nbsp;&nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class 1A2, 4.41%, 4/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp; Impac Secured Assets CMN Owner Trust Series 2003-2, Class A4, 3.75%, 8/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp; Impac Secured Assets Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class A1B, 4.27%, 9/25/2037 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1175 | &nbsp;&nbsp;&nbsp;&nbsp; 1037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class A1C, 4.51%, 9/25/2037 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1969 | &nbsp;&nbsp;&nbsp;&nbsp; 1747 |
| &nbsp;&nbsp;&nbsp; IndyMac INDX Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR3, Class 3A1, 3.92%, 4/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR14, Class 2A1A, 4.39%, 7/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 560 | &nbsp;&nbsp;&nbsp;&nbsp; 451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR21, Class 6A1, 3.67%, 9/25/2037 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3689 | &nbsp;&nbsp;&nbsp;&nbsp; 2258 |
| &nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S3, Class 2A4, 5.50%, 8/25/2021 | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-A6, Class 1A1, 3.66%, 12/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A3, Class 6A6, 5.57%, 6/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A6, Class 1A2, 5.58%, 9/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A8, Class 1A1, 4.84%, 11/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A8, Class 4A1, 4.86%, 11/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp;&nbsp;&nbsp; 740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A7, Class 2A4, 4.39%, 1/25/2037 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 264 | &nbsp;&nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-S1, Class 2A17, 4.12%, 3/25/2037 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3541 | &nbsp;&nbsp;&nbsp;&nbsp; 932 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Legacy Mortgage Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GS3, Class A2, 7.25%, 7/25/2061 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 3126 | &nbsp;&nbsp;&nbsp;&nbsp; 3129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GS1, Class A2, 7.84%, 10/25/2066 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2316 | &nbsp;&nbsp;&nbsp;&nbsp; 2319 |
| &nbsp;&nbsp;&nbsp; Lehman Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class 2A5, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 566 | &nbsp;&nbsp;&nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-7, Class 5A7, 6.50%, 8/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 6576 | &nbsp;&nbsp;&nbsp;&nbsp; 2804 |
| &nbsp;&nbsp;&nbsp; LHOME Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL1, Class A1, 7.02%, 1/25/2029 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 4025 | &nbsp;&nbsp;&nbsp;&nbsp; 4048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL2, Class A1, 7.13%, 3/25/2029 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 3325 | &nbsp;&nbsp;&nbsp;&nbsp; 3355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL3, Class A1, 6.90%, 5/25/2029 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 5049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL5, Class A1, 5.32%, 9/25/2039 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp; 482 |
| &nbsp;&nbsp;&nbsp; MASTR Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-12, Class 3A1, 6.00%, 12/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3, Class 1A1, 5.50%, 4/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-5, Class 3A1, 5.75%, 8/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6, Class 1A2, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1, Class 2A2, 4.80%, 4/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1, Class 2A1, 5.27%, 2/25/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 343 | &nbsp;&nbsp;&nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AF2, Class AF2, 6.25%, 10/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; Metlife Securitization Trust Series 2017-1A, Class A, 3.00%, 4/25/2055 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1251 | &nbsp;&nbsp;&nbsp;&nbsp; 1207 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-2, Class 1A, 5.25%, 2/25/2021 | &nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-9, Class 1A, 5.26%, 11/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 254 | &nbsp;&nbsp;&nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4, Class 1A, 5.00%, 8/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 18 |
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL1, Class A1, 6.66%, 3/25/2039 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 3750 | &nbsp;&nbsp;&nbsp;&nbsp; 3764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-NQM4, Class B1, 3.74%, 9/25/2059 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-NQM4, Class B2, 5.10%, 9/25/2059 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 3793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM5, Class A1, 5.11%, 8/25/2065 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2872 | &nbsp;&nbsp;&nbsp;&nbsp; 2892 |
| &nbsp;&nbsp;&nbsp; Nomura Asset Acceptance Corp. Alternative Loan Trust Series 2005-WF1, Class 2A5, 5.66%, 3/25/2035 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; NRM FHT1 Excess Owner LLC Series 2025-FHT1, Class A, 6.55%, 3/25/2032 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 766 | &nbsp;&nbsp;&nbsp;&nbsp; 776 |
| &nbsp;&nbsp;&nbsp; OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-NQM3, Class A1, 5.95%, 2/25/2063 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NQM4, Class A3, 6.32%, 1/25/2064 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2911 | &nbsp;&nbsp;&nbsp;&nbsp; 2939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM2, Class A1A, 4.82%, 12/1/2065 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1040 | &nbsp;&nbsp;&nbsp;&nbsp; 1042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM2, Class A1B, 4.82%, 12/1/2065 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp; PMT Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-J1, Class A1, 6.00%, 4/25/2055 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1169 | &nbsp;&nbsp;&nbsp;&nbsp; 1187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV5, Class A2, 6.00%, 5/25/2056 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 742 | &nbsp;&nbsp;&nbsp;&nbsp; 756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV6, Class A2, 6.00%, 6/25/2056 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV10, Class A2, 5.50%, 10/1/2056 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 4350 | &nbsp;&nbsp;&nbsp;&nbsp; 4396 |
| &nbsp;&nbsp;&nbsp; Provident Funding Mortgage Trust Series 2025-3, Class A1, 6.00%, 8/25/2055 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5697 | &nbsp;&nbsp;&nbsp;&nbsp; 5763 |
| &nbsp;&nbsp;&nbsp; PRPM LLC Series 2024-8, Class A2, 8.84%, 12/25/2029 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1501 | &nbsp;&nbsp;&nbsp;&nbsp; 1513 |
| &nbsp;&nbsp;&nbsp; RALI Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-QA5, Class A2, 4.60%, 4/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 468 | &nbsp;&nbsp;&nbsp;&nbsp; 429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-QS17, Class A3, 6.00%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 373 | &nbsp;&nbsp;&nbsp;&nbsp; 326 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS3, Class 1A10, 6.00%, 3/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 618 | &nbsp;&nbsp;&nbsp;&nbsp; 561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS4, Class A2, 6.00%, 4/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 761 | &nbsp;&nbsp;&nbsp;&nbsp; 623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS17, Class A5, 6.00%, 12/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 1194 | &nbsp;&nbsp;&nbsp;&nbsp; 1004 |
| &nbsp;&nbsp;&nbsp; Residential Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A8CB, Class A11, 6.00%, 7/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1242 | &nbsp;&nbsp;&nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A14, Class A1, 5.50%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A8, Class 3A1, 6.00%, 8/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 2569 | &nbsp;&nbsp;&nbsp;&nbsp; 1054 |
| &nbsp;&nbsp;&nbsp; RFMSI Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-S7, Class A6, 5.50%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S10, Class 1A1, 6.00%, 10/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 904 | &nbsp;&nbsp;&nbsp;&nbsp; 737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-SA4, Class 2A1, 5.43%, 11/25/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 583 | &nbsp;&nbsp;&nbsp;&nbsp; 492 |
| &nbsp;&nbsp;&nbsp; Sequoia Mortgage Trust Series 2007-3, Class 1A1, 4.19%, 7/20/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class B1, 3.73%, 2/25/2050 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5410 | &nbsp;&nbsp;&nbsp;&nbsp; 4737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-INV1, Class B2, 4.26%, 11/25/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 1381 |
| &nbsp;&nbsp;&nbsp; Structured Adjustable Rate Mortgage Loan Trust Series 2005-1, Class 1A1, 4.22%, 2/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 152 | &nbsp;&nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp; Structured Asset Mortgage Investments II Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR3, Class 1A1, 4.33%, 8/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1383 | &nbsp;&nbsp;&nbsp;&nbsp; 1337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR7, Class 1A1, 4.64%, 5/25/2047 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2477 | &nbsp;&nbsp;&nbsp;&nbsp; 2052 |
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R1, Class B1, 3.20%, 10/25/2063 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R1, Class B2, 4.20%, 10/25/2063 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1322 | &nbsp;&nbsp;&nbsp;&nbsp; 1198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R3, Class B1, 3.07%, 4/25/2064 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R3, Class B2, 4.07%, 4/25/2064 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1776 | &nbsp;&nbsp;&nbsp;&nbsp; 1424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class B1, 3.04%, 9/25/2066 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3826 | &nbsp;&nbsp;&nbsp;&nbsp; 2826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class B2, 3.94%, 9/25/2066 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3750 | &nbsp;&nbsp;&nbsp;&nbsp; 2922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-INV1, Class A3, 6.76%, 2/25/2068 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 1607 | &nbsp;&nbsp;&nbsp;&nbsp; 1602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4, Class A1, 5.81%, 5/25/2068 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 225 | &nbsp;&nbsp;&nbsp;&nbsp; 225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-6, Class B1, 7.77%, 9/25/2068 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3500 | &nbsp;&nbsp;&nbsp;&nbsp; 3536 |
| &nbsp;&nbsp;&nbsp; WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR11, Class A, 5.97%, 10/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 297 | &nbsp;&nbsp;&nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5, Class A6, 5.36%, 5/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 693 | &nbsp;&nbsp;&nbsp;&nbsp; 687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR16, Class 1A1, 4.33%, 12/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR14, Class 1A3, 4.68%, 12/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR14, Class 1A4, 4.68%, 12/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR18, Class 1A3A, 4.65%, 1/25/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR2, Class 1A1, 4.45%, 3/25/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR10, Class A1B, 4.63%, 7/25/2044 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 291 | &nbsp;&nbsp;&nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR15, Class A1A1, 4.31%, 11/25/2045 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp; Washington Mutual Mortgage Pass-Through Certificates WMALT Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1, Class 1A3, 5.50%, 3/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 313 | &nbsp;&nbsp;&nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4, Class CB7, 5.50%, 6/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 2A5, 5.75%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1304 | &nbsp;&nbsp;&nbsp;&nbsp; 1238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 4CB1, 5.75%, 12/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5, Class 2CB5, 6.50%, 7/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1, Class 1A7, 4.39%, 2/25/2037 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2147 | &nbsp;&nbsp;&nbsp;&nbsp; 1654 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Wells Fargo Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR19, Class A3, 6.29%, 12/25/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-15, Class A1, 6.00%, 11/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Collateralized Mortgage Obligations <br>(Cost $323,399)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 294142 |
| **Loan Assignments — 2.9%** (o) | **Loan Assignments — 2.9%** (o) | **Loan Assignments — 2.9%** (o) |
| **Canada — 0.0% ^** | **Canada — 0.0% ^** | **Canada — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; 1011778 BC ULC, 1st Lien Term Loan B-5 (1-MONTH CME TERM SOFR + 1.75%), 5.47%, 9/20/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 376 | &nbsp;&nbsp;&nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp; Four Seasons Hotels Ltd., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 9/22/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 442 | &nbsp;&nbsp;&nbsp;&nbsp; 445 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 6.67%, 2/1/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 909 | &nbsp;&nbsp;&nbsp;&nbsp; 906 |
| &nbsp;&nbsp;&nbsp; Knowlton Development Corp., Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.50%), 7.17%, 8/15/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 557 | &nbsp;&nbsp;&nbsp;&nbsp; 540 |
| &nbsp;&nbsp;&nbsp; NorthRiver Midstream Finance LP, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.25%), 5.91%, 8/16/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 609 | &nbsp;&nbsp;&nbsp;&nbsp; 609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. George's University Scholastic Services LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.42%, <br> 2/12/2029 (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 486 | &nbsp;&nbsp;&nbsp;&nbsp; 459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3334 |
| **France — 0.0% ^** | **France — 0.0% ^** | **France — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Altice France SA, 1st Lien Term Loan B-14 (3-MONTH CME TERM SOFR + 6.88%), 10.55%, 5/30/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp; 155 |
| **Germany — 0.0% ^** | **Germany — 0.0% ^** | **Germany — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; TK Elevator Midco GmbH, 1st Lien Term Loan B-1 (6-MONTH CME TERM SOFR + 2.75%), 6.95%, 4/30/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 522 | &nbsp;&nbsp;&nbsp;&nbsp; 523 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 5.00%), 8.67%, 10/29/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 370 | &nbsp;&nbsp;&nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp; INEOS US Finance LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 6.92%, 2/18/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 4939 | &nbsp;&nbsp;&nbsp;&nbsp; 3556 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3838 |
| **United Kingdom — 0.0% ^** | **United Kingdom — 0.0% ^** | **United Kingdom — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Connect Finco SARL, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.50%), 8.17%, 9/13/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp;&nbsp; 297 |
| &nbsp;&nbsp;&nbsp; Crown Finance US, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.50%), 8.19%, 12/2/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2962 | &nbsp;&nbsp;&nbsp;&nbsp; 2882 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3179 |
| **United States — 2.8%** | **United States — 2.8%** | **United States — 2.8%** |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 6.25%), 9.92%, 10/8/2030 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 6853 | &nbsp;&nbsp;&nbsp;&nbsp; 6674 |
| &nbsp;&nbsp;&nbsp; AAdvantage Loyalty IP Ltd., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 5.92%, 4/20/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2516 | &nbsp;&nbsp;&nbsp;&nbsp; 2516 |
| &nbsp;&nbsp;&nbsp; Acuren Delaware Holdco, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 7/30/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 472 | &nbsp;&nbsp;&nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp; Adient US LLC, 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.00%), 5.67%, 1/31/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2588 | &nbsp;&nbsp;&nbsp;&nbsp; 2584 |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.25%), 6.05%, 7/31/2026 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 291 | &nbsp;&nbsp;&nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp; Ahead DB Holdings LLC, 1st Lien Term Loan B-3 (3-MONTH CME TERM SOFR + 2.50%), 6.17%, 2/3/2031 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 3710 | &nbsp;&nbsp;&nbsp;&nbsp; 3646 |
| &nbsp;&nbsp;&nbsp; AHP Health Partners, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 9/20/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 9/19/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 640 | &nbsp;&nbsp;&nbsp;&nbsp; 638 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 6.92%, 8/20/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1001 | &nbsp;&nbsp;&nbsp;&nbsp; 1002 |
| &nbsp;&nbsp;&nbsp; Altafiber Virginia LLC, 1st Lien Term Loan B-5 (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 11/23/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 337 | &nbsp;&nbsp;&nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp; Altar Bidco, Inc., 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 3.10%), 6.78%, 2/1/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2939 | &nbsp;&nbsp;&nbsp;&nbsp; 2899 |
| &nbsp;&nbsp;&nbsp; Altar Bidco, Inc., 2nd Lien Term Loan (12-MONTH CME TERM SOFR + 5.60%), 9.11%, 2/1/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 219 | &nbsp;&nbsp;&nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.00%; 6-MONTH CME TERM SOFR <br> + 3.00%), 6.79%, 12/13/2029 (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 731 | &nbsp;&nbsp;&nbsp;&nbsp; 732 |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 1/3/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 641 | &nbsp;&nbsp;&nbsp;&nbsp; 642 |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 7.02%, 12/6/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 226 | &nbsp;&nbsp;&nbsp;&nbsp; 225 |
| &nbsp;&nbsp;&nbsp; Asplundh Tree Expert LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.52%, 9/6/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 631 | &nbsp;&nbsp;&nbsp;&nbsp; 632 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 1st Lien Term Loan B-10 (1-MONTH CME TERM SOFR + 4.00%), 7.77%, 8/21/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 328 | &nbsp;&nbsp;&nbsp;&nbsp; 328 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 1st Lien Term Loan B-11 (1-MONTH CME TERM SOFR + 4.25%), 8.02%, 8/21/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 548 | &nbsp;&nbsp;&nbsp;&nbsp; 549 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 1st Lien Term Loan B-13 (1-MONTH CME TERM SOFR + 4.25%), 7.92%, 9/19/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2219 | &nbsp;&nbsp;&nbsp;&nbsp; 2221 |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 2/15/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 786 | &nbsp;&nbsp;&nbsp;&nbsp; 775 |
| &nbsp;&nbsp;&nbsp; AWS Claire's LLC, 1st Lien Term Loan 10.00%, 9/18/2030 ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems US Holdings, Inc., 1st Lien Term Loan B-7 (3-MONTH CME TERM SOFR + 1.75%), 5.42%, <br> 12/20/2029 (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp;&nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp; AZZ, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 5/14/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 157 | &nbsp;&nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp; Bausch + Lomb Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 7.42%, 1/15/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 353 | &nbsp;&nbsp;&nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp; BCP VI Summit Holdings LP, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 6.70%, 1/30/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 612 | &nbsp;&nbsp;&nbsp;&nbsp; 611 |
| &nbsp;&nbsp;&nbsp; BCPE Pequod Buyer, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.75%), 6.42%, 11/25/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3976 | &nbsp;&nbsp;&nbsp;&nbsp; 3954 |
| &nbsp;&nbsp;&nbsp; Belron Finance 2019 LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 6.12%, 10/16/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2078 | &nbsp;&nbsp;&nbsp;&nbsp; 2083 |
| &nbsp;&nbsp;&nbsp; BIFM CA Buyer, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 6.97%, 5/31/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 251 | &nbsp;&nbsp;&nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp; Blackfin Pipeline LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 6.69%, 9/30/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 549 | &nbsp;&nbsp;&nbsp;&nbsp; 552 |
| &nbsp;&nbsp;&nbsp; Bleriot US Bidco, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.50%), 6.17%, 10/31/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 314 | &nbsp;&nbsp;&nbsp;&nbsp; 314 |
| &nbsp;&nbsp;&nbsp; Boxer Parent Co., Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 6.82%, 7/30/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 720 | &nbsp;&nbsp;&nbsp;&nbsp; 691 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP, 1st Lien Term Loan B-7 (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 11/22/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 485 | &nbsp;&nbsp;&nbsp;&nbsp; 486 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 2/6/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 562 | &nbsp;&nbsp;&nbsp;&nbsp; 558 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc., 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 2/6/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 246 | &nbsp;&nbsp;&nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp; Callaway Golf Co., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 6.67%, 3/18/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp; Calpine Construction Finance Co. LP, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 7/31/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 562 | &nbsp;&nbsp;&nbsp;&nbsp; 563 |
| &nbsp;&nbsp;&nbsp; Central Parent LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 6.92%, 7/6/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 726 | &nbsp;&nbsp;&nbsp;&nbsp; 579 |
| &nbsp;&nbsp;&nbsp; Chariot Buyer LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 9/8/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 534 | &nbsp;&nbsp;&nbsp;&nbsp; 533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC, 1st Lien Term Loan B-4 (3-MONTH CME TERM SOFR + 2.00%), 5.66%, <br> 12/9/2030 (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1323 | &nbsp;&nbsp;&nbsp;&nbsp; 1319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC, 1st Lien Term Loan B-5 (3-MONTH CME TERM SOFR + 2.25%), 5.91%, <br> 12/15/2031 (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 844 | &nbsp;&nbsp;&nbsp;&nbsp; 843 |
| &nbsp;&nbsp;&nbsp; Chemours Co. LLC, 1st Lien Term Loan B-4 (1-MONTH CME TERM SOFR + 3.50%), 7.17%, 10/15/2032 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 496 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP, 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 5/6/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp;&nbsp; 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 1/28/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 224 | &nbsp;&nbsp;&nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.00%), 7.79%, 8/23/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1483 | &nbsp;&nbsp;&nbsp;&nbsp; 1481 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.25%), 6.92%, 3/21/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.25%), 6.92%, 4/1/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 522 | &nbsp;&nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp; Coherent Corp., 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 7/2/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp; 323 |
| &nbsp;&nbsp;&nbsp; Colossus Acquireco LLC, 1st Lien Term Loan (1-Day CME TERM SOFR + 1.75%), 5.41%, 7/30/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 643 | &nbsp;&nbsp;&nbsp;&nbsp; 640 |
| &nbsp;&nbsp;&nbsp; Conair Holdings LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 7.54%, 5/17/2028 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 4494 | &nbsp;&nbsp;&nbsp;&nbsp; 2250 |
| &nbsp;&nbsp;&nbsp; Conservice Midco LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 5/13/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 923 | &nbsp;&nbsp;&nbsp;&nbsp; 922 |
| &nbsp;&nbsp;&nbsp; Constellation Renewables LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%), 5.82%, 12/15/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 386 | &nbsp;&nbsp;&nbsp;&nbsp; 386 |
| &nbsp;&nbsp;&nbsp; CPI Holdco B LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.00%), 5.67%, 5/19/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp; 477 |
| &nbsp;&nbsp;&nbsp; CPPIB OVM Member US LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.50%), 6.17%, 8/20/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 720 | &nbsp;&nbsp;&nbsp;&nbsp; 719 |
| &nbsp;&nbsp;&nbsp; Creative Artists Agency LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 10/1/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 640 | &nbsp;&nbsp;&nbsp;&nbsp; 639 |
| &nbsp;&nbsp;&nbsp; Crosby US Acquisition Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.50%), 7.17%, 8/16/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 5/9/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 609 | &nbsp;&nbsp;&nbsp;&nbsp; 608 |
| &nbsp;&nbsp;&nbsp; Dawn Bidco LLC, 1st Lien Term Loan (12-MONTH CME TERM SOFR + 3.00%), 6.76%, 8/20/2032 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 3972 | &nbsp;&nbsp;&nbsp;&nbsp; 3853 |
| &nbsp;&nbsp;&nbsp; DCert Buyer, Inc., 2nd Lien Term Loan (1-MONTH CME TERM SOFR + 7.00%), 10.67%, 2/16/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp; DexKo Global, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.75%), 7.68%, 10/4/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3924 | &nbsp;&nbsp;&nbsp;&nbsp; 3894 |
| &nbsp;&nbsp;&nbsp; DIRECTV Financing LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 5.00%), 8.93%, 8/2/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 198 | &nbsp;&nbsp;&nbsp;&nbsp; 198 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Ecovyst Catalyst Technologies LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%), 5.67%, 6/12/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 1.75%), 5.45%, 10/29/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP, 1st Lien Term Loan (6-MONTH CME TERM SOFR + 2.25%), 6.12%, 8/4/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3024 | &nbsp;&nbsp;&nbsp;&nbsp; 3018 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.25%), 6.07%, 5/31/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp;&nbsp;&nbsp; 908 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings LP, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 7.47%, 4/23/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 594 | &nbsp;&nbsp;&nbsp;&nbsp; 594 |
| &nbsp;&nbsp;&nbsp; Ensemble RCM LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.00%), 6.67%, 8/1/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 239 | &nbsp;&nbsp;&nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 7/6/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp; Enviri Corp., 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 2.25%), 6.04%, 6/9/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 690 | &nbsp;&nbsp;&nbsp;&nbsp; 687 |
| &nbsp;&nbsp;&nbsp; EW Scripps Co. (The), 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 5.75%), 9.54%, 6/30/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 616 | &nbsp;&nbsp;&nbsp;&nbsp; 621 |
| &nbsp;&nbsp;&nbsp; EW Scripps Co. (The), 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 3.35%), 7.14%, 11/30/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 245 | &nbsp;&nbsp;&nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp; FGI Operating Co. LLC, 1st Lien Term Loan 0.00%, 12/31/2026 ‡ (l) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; First Advantage Holdings LLC, 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 10/31/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3402 | &nbsp;&nbsp;&nbsp;&nbsp; 3268 |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.50%), 6.17%, 8/15/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 5749 | &nbsp;&nbsp;&nbsp;&nbsp; 5738 |
| &nbsp;&nbsp;&nbsp; First Student Bidco, Inc., 1st Lien Term Loan C (3-MONTH CME TERM SOFR + 2.50%), 6.17%, 8/15/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1052 | &nbsp;&nbsp;&nbsp;&nbsp; 1049 |
| &nbsp;&nbsp;&nbsp; Gates Global LLC, 1st Lien Term Loan B-4 (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 11/16/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 487 | &nbsp;&nbsp;&nbsp;&nbsp; 487 |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 1.75%), 5.42%, 4/10/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 695 | &nbsp;&nbsp;&nbsp;&nbsp; 694 |
| &nbsp;&nbsp;&nbsp; Genesys Cloud Services, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 1/30/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3501 | &nbsp;&nbsp;&nbsp;&nbsp; 3418 |
| &nbsp;&nbsp;&nbsp; Global Medical Response, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.50%), 7.17%, 10/1/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co. LLC, 1st Lien Term Loan B-8 (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 11/9/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 490 | &nbsp;&nbsp;&nbsp;&nbsp; 487 |
| &nbsp;&nbsp;&nbsp; Goat Holdco LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 1/27/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 354 | &nbsp;&nbsp;&nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp; Graham Packaging Co., Inc., 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 2.25%), 5.69%, 1/14/2033 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 1677 | &nbsp;&nbsp;&nbsp;&nbsp; 1675 |
| &nbsp;&nbsp;&nbsp; Grant Thornton Advisors LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 6/2/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 608 | &nbsp;&nbsp;&nbsp;&nbsp; 598 |
| &nbsp;&nbsp;&nbsp; Gray Media, Inc., 1st Lien Term Loan D (1-MONTH CME TERM SOFR + 3.00%), 6.81%, 12/1/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 361 | &nbsp;&nbsp;&nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp; Griffon Corp., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.00%), 5.67%, 1/24/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 373 | &nbsp;&nbsp;&nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp; Guardian US Holdco LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.50%), 7.17%, 1/31/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 441 | &nbsp;&nbsp;&nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The), 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.50%), 7.29%, 6/30/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2678 | &nbsp;&nbsp;&nbsp;&nbsp; 2276 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The), 1st Lien Term Loan C (1-MONTH CME TERM SOFR + 3.50%), 7.29%, 6/30/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 529 | &nbsp;&nbsp;&nbsp;&nbsp; 449 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 5.92%, 6/20/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 721 | &nbsp;&nbsp;&nbsp;&nbsp; 720 |
| &nbsp;&nbsp;&nbsp; ICON Luxembourg SARL, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%), 5.67%, 7/3/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; Icon Parent I, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.75%), 6.44%, 11/13/2031 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 4670 | &nbsp;&nbsp;&nbsp;&nbsp; 4588 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 5.78%), 9.56%, 5/1/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 5874 | &nbsp;&nbsp;&nbsp;&nbsp; 5364 |
| &nbsp;&nbsp;&nbsp; Indy US Holdco LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 10/31/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 372 | &nbsp;&nbsp;&nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp; Insulet Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.00%), 5.72%, 8/4/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 680 | &nbsp;&nbsp;&nbsp;&nbsp; 683 |
| &nbsp;&nbsp;&nbsp; Iridium Satellite LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 9/20/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 519 | &nbsp;&nbsp;&nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp; Jazz Financing Lux SARL, 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 5/5/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 356 | &nbsp;&nbsp;&nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp; Jetblue Airways Corp., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.75%), 8.44%, 8/27/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 528 | &nbsp;&nbsp;&nbsp;&nbsp; 506 |
| &nbsp;&nbsp;&nbsp; Karman Holdings, Inc., 1st Lien Term Loan (12-MONTH CME TERM SOFR + 3.50%), 7.18%, 4/1/2032 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 466 | &nbsp;&nbsp;&nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp; KBR, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.00%), 5.67%, 1/17/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp;&nbsp;&nbsp; 466 |
| &nbsp;&nbsp;&nbsp; LABL, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 5.00%), 8.94%, 10/30/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3878 | &nbsp;&nbsp;&nbsp;&nbsp; 1763 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc., 1st Lien Term Loan B-4 (1-MONTH CME TERM SOFR + 3.25%), 6.92%, 3/29/2032 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp; LSF12 Crown US Commercial Bidco LLC, 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 3.00%), 6.67%, 12/2/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 5072 | &nbsp;&nbsp;&nbsp;&nbsp; 5074 |
| &nbsp;&nbsp;&nbsp; LSF12 Helix Parent LLC, 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 3.50%), 6.92%, 1/24/2033 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 1695 | &nbsp;&nbsp;&nbsp;&nbsp; 1689 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc., 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 2.35%), 6.14%, 4/16/2029 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 6150 | &nbsp;&nbsp;&nbsp;&nbsp; 6130 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.35%), 6.14%, 4/15/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC, 1st Lien Term Loan (6-MONTH CME TERM SOFR + 2.50%), 6.13%, 6/21/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3550 | &nbsp;&nbsp;&nbsp;&nbsp; 3548 |
| &nbsp;&nbsp;&nbsp; Madison Safety & Flow LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 9/26/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 467 | &nbsp;&nbsp;&nbsp;&nbsp; 468 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.50%), 7.23%, 4/15/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 584 | &nbsp;&nbsp;&nbsp;&nbsp; 569 |
| &nbsp;&nbsp;&nbsp; MED ParentCo LP, 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 3.25%), 7.32%, 4/15/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 338 | &nbsp;&nbsp;&nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.47%, 10/23/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 521 | &nbsp;&nbsp;&nbsp;&nbsp; 522 |
| &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%), 7.92%, 5/3/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 212 | &nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-MONTH CME TERM SOFR + 4.25%), 7.92%, 12/31/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 147 | &nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp; Mirion Technologies, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%), 5.67%, 6/4/2032 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 397 | &nbsp;&nbsp;&nbsp;&nbsp; 397 |
| &nbsp;&nbsp;&nbsp; Mister Car Wash Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.22%, 3/27/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 309 | &nbsp;&nbsp;&nbsp;&nbsp; 309 |
| &nbsp;&nbsp;&nbsp; MIWD Holdco II LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 3/28/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2852 | &nbsp;&nbsp;&nbsp;&nbsp; 2849 |
| &nbsp;&nbsp;&nbsp; Modena Buyer LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.25%), 7.92%, 7/1/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 311 | &nbsp;&nbsp;&nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien PIK Term Loan (3-MONTH CME TERM SOFR + 9.35% (PIK) + 2.00%), 5.67%, 6/30/2026 ‡ (e) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 20645 | &nbsp;&nbsp;&nbsp;&nbsp; 5130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Super Senior Delayed Draw Term Loan (3-MONTH CME TERM SOFR + 15.83% (PIK) + 11.50%), <br> 15.44%, 6/30/2026 ‡ (e) (j)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8553 | &nbsp;&nbsp;&nbsp;&nbsp; 8125 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 12.73% (PIK) + 8.50%), 12.34%, 1/2/2029 ‡ (e) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 2944 | &nbsp;&nbsp;&nbsp;&nbsp; 2797 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Term Loan A (3-MONTH CME TERM SOFR + 6.73% (PIK) + 2.50%), 6.34%, 1/2/2029 ‡ (e) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 3222 | &nbsp;&nbsp;&nbsp;&nbsp; 3060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moran Foods LLC, 2nd Lien PIK Term Loan (3-MONTH CME TERM SOFR + 9.35% (PIK) + 2.00%), 5.67%, 6/30/2026 ‡ (e) <br> (j)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9901 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; NCR Atleos LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.00%), 6.70%, 4/16/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 158 | &nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neon Maple US Debt Mergersub, Inc., 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 2.50%), 6.17%, <br> 11/17/2031 (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4984 | &nbsp;&nbsp;&nbsp;&nbsp; 4932 |
| &nbsp;&nbsp;&nbsp; Neptune Bidco US, Inc., 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 5.00%), 8.42%, 1/28/2033 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 265 | &nbsp;&nbsp;&nbsp;&nbsp; 261 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.50%), 7.17%, 2/3/2031 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 726 | &nbsp;&nbsp;&nbsp;&nbsp; 730 |
| &nbsp;&nbsp;&nbsp; Novelis, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 1.75%), 5.42%, 3/11/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 263 | &nbsp;&nbsp;&nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 1.75%), 5.52%, 4/16/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 577 | &nbsp;&nbsp;&nbsp;&nbsp; 577 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 9/22/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 587 | &nbsp;&nbsp;&nbsp;&nbsp; 588 |
| &nbsp;&nbsp;&nbsp; Orion Advisor Solutions, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 7.11%, 9/24/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 529 | &nbsp;&nbsp;&nbsp;&nbsp; 527 |
| &nbsp;&nbsp;&nbsp; PAREXEL International Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 12/12/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1851 | &nbsp;&nbsp;&nbsp;&nbsp; 1850 |
| &nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.25%), 7.18%, 3/3/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 6373 | &nbsp;&nbsp;&nbsp;&nbsp; 6356 |
| &nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc., 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 4.25%), 7.67%, 1/22/2031 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 3322 | &nbsp;&nbsp;&nbsp;&nbsp; 3244 |
| &nbsp;&nbsp;&nbsp; PetSmart LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 4.00%), 7.67%, 8/18/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 4871 | &nbsp;&nbsp;&nbsp;&nbsp; 4864 |
| &nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.00%), 5.67%, 7/3/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP, 1st Lien Term Loan B-4 (1-MONTH CME TERM SOFR + 3.75%), 7.42%, 8/1/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 418 | &nbsp;&nbsp;&nbsp;&nbsp; 417 |
| &nbsp;&nbsp;&nbsp; Pre-Paid Legal Services, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 6.92%, 12/7/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 539 | &nbsp;&nbsp;&nbsp;&nbsp; 505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC, 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 2.00%), 5.69%, <br> 10/15/2030 (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp; 808 |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 5.92%, 3/31/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2485 | &nbsp;&nbsp;&nbsp;&nbsp; 2483 |
| &nbsp;&nbsp;&nbsp; Project Boost Purchaser LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.75%), 6.42%, 7/16/2031 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 705 | &nbsp;&nbsp;&nbsp;&nbsp; 691 |
| &nbsp;&nbsp;&nbsp; Proofpoint, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 6.92%, 8/31/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 647 | &nbsp;&nbsp;&nbsp;&nbsp; 642 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 3/19/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp; 481 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc., 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 2/10/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 4687 | &nbsp;&nbsp;&nbsp;&nbsp; 4684 |
| &nbsp;&nbsp;&nbsp; QXO Building Products, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.00%), 5.67%, 4/30/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1067 | &nbsp;&nbsp;&nbsp;&nbsp; 1068 |
| &nbsp;&nbsp;&nbsp; Radiology Partners, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 4.50%), 8.17%, 6/30/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 499 | &nbsp;&nbsp;&nbsp;&nbsp; 499 |
| &nbsp;&nbsp;&nbsp; Raven Acquisition Holdings LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 6.67%, 11/19/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2923 | &nbsp;&nbsp;&nbsp;&nbsp; 2891 |
| &nbsp;&nbsp;&nbsp; RealPage, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 6.93%, 4/24/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 422 | &nbsp;&nbsp;&nbsp;&nbsp; 416 |
| &nbsp;&nbsp;&nbsp; Resilience Parent LLC, 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 2.50%), 5.92%, 1/21/2033 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp; Resonetics LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.75%), 6.42%, 6/18/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 361 | &nbsp;&nbsp;&nbsp;&nbsp; 361 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 7.42%, 11/28/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2927 | &nbsp;&nbsp;&nbsp;&nbsp; 2790 |
| &nbsp;&nbsp;&nbsp; Sanmina Corp., 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 2.00%), 5.70%, 10/27/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3141 | &nbsp;&nbsp;&nbsp;&nbsp; 3148 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.17%, <br> 7/31/2031 (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 825 | &nbsp;&nbsp;&nbsp;&nbsp; 822 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%), 5.65%, 7/6/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 374 | &nbsp;&nbsp;&nbsp;&nbsp; 376 |
| &nbsp;&nbsp;&nbsp; Shutterfly Finance LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 6.00%), 9.67%, 10/1/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Shutterfly Finance LLC, 2nd Lien Term Loan (3-MONTH CME TERM SOFR + 5.00%), 8.82%, 10/1/2027 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3186 | &nbsp;&nbsp;&nbsp;&nbsp; 3053 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.00%), 5.67%, 5/1/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 468 | &nbsp;&nbsp;&nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp; Skopima Consilio Parent LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.75%), 7.42%, 5/12/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 707 | &nbsp;&nbsp;&nbsp;&nbsp; 603 |
| &nbsp;&nbsp;&nbsp; SPX FLOW, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.42%, 4/5/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2115 | &nbsp;&nbsp;&nbsp;&nbsp; 2115 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc., 1st Lien Term Loan B-8 (1-MONTH CME TERM SOFR + 2.00%), 5.72%, 5/9/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 418 | &nbsp;&nbsp;&nbsp;&nbsp; 418 |
| &nbsp;&nbsp;&nbsp; Staples, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 5.75%), 9.60%, 8/23/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 953 | &nbsp;&nbsp;&nbsp;&nbsp; 908 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.00%), 7.67%, 9/27/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1916 | &nbsp;&nbsp;&nbsp;&nbsp; 1916 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.00%), 5.67%, 3/14/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 445 | &nbsp;&nbsp;&nbsp;&nbsp; 445 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 12/19/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 488 | &nbsp;&nbsp;&nbsp;&nbsp; 488 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.00%), 5.67%, 11/25/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 383 | &nbsp;&nbsp;&nbsp;&nbsp; 382 |
| &nbsp;&nbsp;&nbsp; Terex Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 10/8/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 670 | &nbsp;&nbsp;&nbsp;&nbsp; 671 |
| &nbsp;&nbsp;&nbsp; Thoughtworks, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.50%), 6.29%, 3/24/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp; TKO Worldwide Holdings LLC, 1st Lien Term Loan B-5 (3-MONTH CME TERM SOFR + 2.00%), 5.87%, 11/21/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp;&nbsp;&nbsp; 506 |
| &nbsp;&nbsp;&nbsp; Trans Union LLC, 1st Lien Term Loan B-9 (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 6/24/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 602 | &nbsp;&nbsp;&nbsp;&nbsp; 602 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc., 1st Lien Term Loan J (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 2/28/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 440 | &nbsp;&nbsp;&nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc., 1st Lien Term Loan K (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 3/22/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 480 | &nbsp;&nbsp;&nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc., 1st Lien Term Loan M (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 8/19/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 5506 | &nbsp;&nbsp;&nbsp;&nbsp; 5501 |
| &nbsp;&nbsp;&nbsp; Trident TPI Holdings, Inc., 1st Lien Term Loan B-7 (3-MONTH CME TERM SOFR + 3.75%), 7.42%, 9/15/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 459 | &nbsp;&nbsp;&nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp; UKG, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.50%), 6.17%, 2/10/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 835 | &nbsp;&nbsp;&nbsp;&nbsp; 813 |
| &nbsp;&nbsp;&nbsp; US Renal Care, Inc., 1st Lien Term Loan C (1-MONTH CME TERM SOFR + 5.00%), 8.79%, 6/28/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3115 | &nbsp;&nbsp;&nbsp;&nbsp; 2926 |
| &nbsp;&nbsp;&nbsp; USI, Inc., 1st Lien Term Loan D (3-MONTH CME TERM SOFR + 2.25%), 5.92%, 11/21/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 517 | &nbsp;&nbsp;&nbsp;&nbsp; 517 |
| &nbsp;&nbsp;&nbsp; Utz Quality Foods LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.50%), 6.17%, 1/29/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 324 | &nbsp;&nbsp;&nbsp;&nbsp; 323 |
| &nbsp;&nbsp;&nbsp; Varsity Brands, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 6.67%, 8/26/2031 (e) (p) | &nbsp;&nbsp;&nbsp;&nbsp; 6182 | &nbsp;&nbsp;&nbsp;&nbsp; 6176 |
| &nbsp;&nbsp;&nbsp; Venator Materials LLC, 1st Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 1.00% (PIK) + 2.00%), 13.89%, 2/16/2026 (e) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 8.00% (PIK) + 2.00%), 5.90%, 10/12/2028 (e) (j) | &nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venator Materials LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 8.00% (PIK) + 2.00%), 6.00%, 7/16/2026 (e) <br> (j)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; Vertex Aerospace Services Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.25%), 5.92%, 12/6/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 268 | &nbsp;&nbsp;&nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp., 1st Lien Term Loan B-4 (1-MONTH CME TERM SOFR + 1.75%), 5.45%, 8/12/2032 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 936 | &nbsp;&nbsp;&nbsp;&nbsp; 938 |
| &nbsp;&nbsp;&nbsp; Virtusa Corp., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 3.25%), 6.92%, 2/15/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 514 | &nbsp;&nbsp;&nbsp;&nbsp; 505 |
| &nbsp;&nbsp;&nbsp; Vista Management Holding, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.75%), 7.41%, 4/1/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 152 | &nbsp;&nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.42%, 12/20/2030 \* (e) | &nbsp;&nbsp;&nbsp;&nbsp; 483 | &nbsp;&nbsp;&nbsp;&nbsp; 483 |
| &nbsp;&nbsp;&nbsp; VT Topco, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 3.00%), 6.66%, 8/9/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 608 | &nbsp;&nbsp;&nbsp;&nbsp; 589 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 1/30/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 588 | &nbsp;&nbsp;&nbsp;&nbsp; 587 |
| &nbsp;&nbsp;&nbsp; WEC US Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.00%), 5.70%, 1/27/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 1208 | &nbsp;&nbsp;&nbsp;&nbsp; 1206 |
| &nbsp;&nbsp;&nbsp; Whatabrands LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.50%), 6.17%, 8/3/2028 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 529 | &nbsp;&nbsp;&nbsp;&nbsp; 528 |
| &nbsp;&nbsp;&nbsp; White Cap Supply Holdings LLC, 1st Lien Term Loan C (1-MONTH CME TERM SOFR + 3.25%), 6.97%, 10/19/2029 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3735 | &nbsp;&nbsp;&nbsp;&nbsp; 3724 |
| &nbsp;&nbsp;&nbsp; Whitewater Whistler Holdings LLC, 1st Lien Term Loan B-3 (3-MONTH CME TERM SOFR + 1.75%), 5.44%, 2/15/2030 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 541 | &nbsp;&nbsp;&nbsp;&nbsp; 538 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Loan Assignments — continued** | **Loan Assignments — continued** | **Loan Assignments — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 1.75%), 5.57%, 1/24/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 534 | &nbsp;&nbsp;&nbsp;&nbsp; 536 |
| &nbsp;&nbsp;&nbsp; Zekelman Industries, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.25%), 5.93%, 1/24/2031 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp;&nbsp; 320 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 237047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Loan Assignments <br>(Cost $255,087)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 248076 |
| **Asset-Backed Securities — 1.1%** | **Asset-Backed Securities — 1.1%** | **Asset-Backed Securities — 1.1%** |
| **Cayman Islands — 0.3%** | **Cayman Islands — 0.3%** | **Cayman Islands — 0.3%** |
| &nbsp;&nbsp;&nbsp; AB BSL CLO Ltd. Series 2020-1A, Class BR2, 5.32%, 10/15/2038 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 850 | &nbsp;&nbsp;&nbsp;&nbsp; 853 |
| &nbsp;&nbsp;&nbsp; Ballyrock CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A, Class A2R, 5.48%, 10/20/2031 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2900 | &nbsp;&nbsp;&nbsp;&nbsp; 2906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-17A, Class A2R, 5.27%, 10/20/2038 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1405 |
| &nbsp;&nbsp;&nbsp; Barings CLO Ltd. Series 2023-3A, Class D2R, 7.57%, 10/15/2038 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 310 | &nbsp;&nbsp;&nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp; Carlyle Global Market Strategies CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-4A, Class BR3, 5.12%, 7/20/2032 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-1A, Class CR3, 6.87%, 4/20/2034 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 899 | &nbsp;&nbsp;&nbsp;&nbsp; 902 |
| &nbsp;&nbsp;&nbsp; Dryden CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-64A, Class A, 4.90%, 4/18/2031 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 357 | &nbsp;&nbsp;&nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-68A, Class BRR, 5.22%, 7/15/2035 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp;&nbsp;&nbsp; 651 |
| &nbsp;&nbsp;&nbsp; Dryden Senior Loan Fund Series 2015-37A, Class AR, 5.03%, 1/15/2031 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 159 | &nbsp;&nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd. Series 2020-8A, Class DRR, 6.57%, 10/20/2034 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp; 1305 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding Ltd. Series 2021-49A, Class B1R, 5.12%, 10/19/2034 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 901 |
| &nbsp;&nbsp;&nbsp; Magnetite Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-22A, Class BRR, 5.27%, 7/15/2036 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1018 | &nbsp;&nbsp;&nbsp;&nbsp; 1019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-22A, Class CRR, 5.52%, 7/15/2036 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 977 | &nbsp;&nbsp;&nbsp;&nbsp; 978 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO Ltd. Series 2019-34A, Class BR2, 5.32%, 7/20/2039 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 904 |
| &nbsp;&nbsp;&nbsp; Octagon Ltd. Series 2022-1A, Class DR, 7.27%, 7/21/2037 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class A2, 5.51%, 8/8/2032 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2199 | &nbsp;&nbsp;&nbsp;&nbsp; 2205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class B, 5.76%, 8/8/2032 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp;&nbsp;&nbsp; 2303 |
| &nbsp;&nbsp;&nbsp; Symphony CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-19A, Class B, 5.28%, 4/16/2031 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-29A, Class BR, 5.32%, 10/15/2035 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 940 | &nbsp;&nbsp;&nbsp;&nbsp; 942 |
| &nbsp;&nbsp;&nbsp; Voya CLO Ltd. Series 2022-1A, Class BR, 5.42%, 4/20/2035 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1180 | &nbsp;&nbsp;&nbsp;&nbsp; 1180 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 22335 |
| **Jersey — 0.0% ^** | **Jersey — 0.0% ^** | **Jersey — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-50A, Class BR, 5.32%, 7/23/2036 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp; 1202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-50A, Class CR, 5.57%, 7/23/2036 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 779 | &nbsp;&nbsp;&nbsp;&nbsp; 780 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1982 |
| **United States — 0.8%** | **United States — 0.8%** | **United States — 0.8%** |
| &nbsp;&nbsp;&nbsp; ABFC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-OPT1, Class A1A, 4.61%, 4/25/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-OPT3, Class M1, 4.54%, 9/25/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE1, Class M1, 4.69%, 3/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 307 |
| &nbsp;&nbsp;&nbsp; Accredited Mortgage Loan Trust Series 2004-4, Class M1, 4.66%, 1/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp; 254 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; ACE Securities Corp. Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-FM1, Class M1, 5.08%, 11/25/2032 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 171 | &nbsp;&nbsp;&nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-OP1, Class M2, 5.36%, 4/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 370 | &nbsp;&nbsp;&nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp; American Credit Acceptance Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3, Class F, 9.76%, 5/14/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4, Class E, 10.00%, 1/14/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 495 | &nbsp;&nbsp;&nbsp;&nbsp; 504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2, Class E, 9.79%, 2/12/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4, Class D, 7.65%, 9/12/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4, Class D, 5.34%, 8/12/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 446 | &nbsp;&nbsp;&nbsp;&nbsp; 451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3, Class E, 9.54%, 10/14/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class E, 7.87%, 11/12/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp; 544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class C, 4.95%, 7/12/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 940 | &nbsp;&nbsp;&nbsp;&nbsp; 950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class D, 5.19%, 7/12/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 940 | &nbsp;&nbsp;&nbsp;&nbsp; 947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class E, 7.39%, 12/13/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp;&nbsp; 567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class E, 6.77%, 6/13/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1030 | &nbsp;&nbsp;&nbsp;&nbsp; 1043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates Series 2002-AR1, Class M1, 3.21%, <br> 9/25/2032 (l)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities Corp. Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE2, Class M2, 5.66%, 4/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE7, Class M2, 5.36%, 10/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp; Bayview Opportunity Master Fund LLC Series 2024-CAR1, Class C, 5.20%, 12/26/2031 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; Bear Stearns Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-SD1, Class M1, 5.06%, 12/25/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 231 | &nbsp;&nbsp;&nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-SD4, Class A1, 4.69%, 8/25/2044 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 443 | &nbsp;&nbsp;&nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp; Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class D, 5.83%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1480 | &nbsp;&nbsp;&nbsp;&nbsp; 1512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class D, 5.62%, 3/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp;&nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class D, 5.41%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 914 |
| &nbsp;&nbsp;&nbsp; Centex Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-C, Class M2, 4.38%, 6/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 252 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-D, Class MV2, 4.82%, 9/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-D, Class MF2, 6.06%, 9/25/2034 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp; Chase Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-5, Class 1M2, 5.64%, 9/25/2032 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-1, Class 1M1, 4.73%, 5/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 841 | &nbsp;&nbsp;&nbsp;&nbsp; 808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-4, Class 1A5, 4.89%, 5/25/2033 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp; 349 |
| &nbsp;&nbsp;&nbsp; CHEC Loan Trust Series 2004-1, Class M1, 4.69%, 7/25/2034 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp; CITI Asset Receivables Trust I Series 2025-1, Class CERT, 0.00%, 3/15/2031 ‡ (d) (m) | &nbsp;&nbsp;&nbsp;&nbsp; 602 | &nbsp;&nbsp;&nbsp;&nbsp; 597 |
| &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust, Inc. Series 2005-WF2, Class AF7, 5.75%, 8/25/2035 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A, Class D, 9.00%, 4/18/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A, Class B, 7.09%, 10/17/2033 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 311 | &nbsp;&nbsp;&nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, 5.68%, 3/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 364 | &nbsp;&nbsp;&nbsp;&nbsp; 367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class B, 6.03%, 5/15/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp;&nbsp; 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class C, 6.71%, 7/17/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp; CWABS Asset-Backed Certificates Trust Series 2005-11, Class AF6, 5.05%, 2/25/2036 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp; CWABS Asset-Backed Certificates Trust, Series 2004-BC4, Class M1, 4.84%, 11/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Drive Auto Receivables Trust Series 2025-2, Class D, 4.90%, 12/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp;&nbsp;&nbsp; 1052 |
| &nbsp;&nbsp;&nbsp; DT Auto Owner Trust Series 2022-3A, Class E, 10.99%, 7/16/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1047 |
| &nbsp;&nbsp;&nbsp; Exeter Automobile Receivables Trust Series 2025-3A, Class D, 5.57%, 10/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp;&nbsp;&nbsp; 520 |
| &nbsp;&nbsp;&nbsp; FFMLT Trust Series 2004-FF3, Class M1, 4.61%, 5/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp; Finance America Mortgage Loan Trust Series 2004-3, Class M2, 4.73%, 11/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp; Ford Credit Auto Owner Trust Series 2022-C, Class A4, 4.59%, 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp;&nbsp;&nbsp; 382 |
| &nbsp;&nbsp;&nbsp; Fremont Home Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-1, Class M1, 5.04%, 8/25/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 243 | &nbsp;&nbsp;&nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-B, Class M2, 4.73%, 5/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp;&nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-C, Class M1, 4.76%, 8/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp;&nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-D, Class M2, 4.69%, 11/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 147 | &nbsp;&nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; GLS Auto Receivables Issuer Trust Series 2022-2A, Class E, 5.50%, 6/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1257 |
| &nbsp;&nbsp;&nbsp; GSAMP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-SEA, Class A1, 4.59%, 2/25/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-HE1, Class M1, 5.03%, 6/20/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 394 | &nbsp;&nbsp;&nbsp;&nbsp; 420 |
| &nbsp;&nbsp;&nbsp; Hertz Vehicle Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A, Class A, 5.94%, 2/25/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp; 426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A, Class D, 9.40%, 9/25/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp;&nbsp;&nbsp; 741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class D, 8.34%, 9/25/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4A, Class D, 9.34%, 12/25/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6A, Class D, 8.30%, 5/25/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp; Home Equity Mortgage Loan Asset-Backed Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-B, Class M2, 4.61%, 11/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-C, Class M2, 4.20%, 3/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 636 | &nbsp;&nbsp;&nbsp;&nbsp; 573 |
| &nbsp;&nbsp;&nbsp; LendingClub Loan Certificate Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NP3, Class CERT, 0.00%, 5/15/2037 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp; 680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-P3, Class CERT, 0.00%, 5/15/2037 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp; 345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NP5, Class CERT, 0.00%, 6/15/2037 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 1386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-P4, Class CERT, 0.00%, 6/15/2037 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NP6, Class CERT, 0.00%, 7/15/2037 ‡ (d) | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp; Lendmark Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class B, 2.37%, 4/20/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 4.78%, 10/20/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp; 958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class C, 5.28%, 10/20/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp; 958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class C, 5.04%, 5/21/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp; 515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class D, 5.64%, 5/21/2035 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp; 516 |
| &nbsp;&nbsp;&nbsp; MASTR Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-OPT2, Class M2, 4.76%, 9/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-NC1, Class M4, 4.93%, 12/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 228 | &nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-OPT1, Class M1, 4.76%, 7/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE2, Class M1, 4.99%, 8/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley ABS Capital I, Inc. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-NC10, Class M1, 4.81%, 10/25/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-WMC2, Class M1, 4.70%, 7/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 453 | &nbsp;&nbsp;&nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-WMC2, Class M2, 5.59%, 7/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE6, Class M2, 4.69%, 8/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 355 | &nbsp;&nbsp;&nbsp;&nbsp; 353 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE6, Class M3, 4.76%, 8/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 147 | &nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HE8, Class M2, 4.81%, 9/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-NC8, Class M3, 4.90%, 9/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HE1, Class M2, 4.49%, 12/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-NC1, Class M3, 4.55%, 1/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 263 | &nbsp;&nbsp;&nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust Series 2007-5AX, Class 2A2, 4.09%, 2/25/2037 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 2622 | &nbsp;&nbsp;&nbsp;&nbsp; 499 |
| &nbsp;&nbsp;&nbsp; New Century Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class M2, 4.72%, 8/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-4, Class M2, 4.58%, 2/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp; NovaStar Mortgage Funding Trust Series 2003-2, Class M2, 6.56%, 9/25/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 462 | &nbsp;&nbsp;&nbsp;&nbsp; 468 |
| &nbsp;&nbsp;&nbsp; NRM FNT1 Excess LLC Series 2024-FNT1, Class A, 7.40%, 11/25/2031 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 2063 | &nbsp;&nbsp;&nbsp;&nbsp; 2100 |
| &nbsp;&nbsp;&nbsp; Oak Street Investment Grade Net Lease Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class A3, 2.80%, 1/20/2051 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2478 | &nbsp;&nbsp;&nbsp;&nbsp; 1632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class B1, 4.23%, 1/20/2051 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 669 |
| &nbsp;&nbsp;&nbsp; Option One Mortgage Accept Corp. Asset-Backed Certificates Series 2003-5, Class A2, 4.43%, 8/25/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp; Option One Mortgage Loan Trust Series 2004-3, Class M2, 4.64%, 11/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 244 | &nbsp;&nbsp;&nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp; Pagaya AI Debt Selection Trust Series 2021-3, Class C, 3.27%, 5/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp; Planet Fitness Master Issuer LLC Series 2025-1A, Class A2II, 5.65%, 12/6/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp; 514 |
| &nbsp;&nbsp;&nbsp; PRET LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NPL9, Class A1, 5.85%, 12/25/2054 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 7054 | &nbsp;&nbsp;&nbsp;&nbsp; 7059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL4, Class A1, 6.37%, 4/25/2055 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 778 | &nbsp;&nbsp;&nbsp;&nbsp; 781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL3, Class A1, 6.71%, 4/25/2055 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 947 | &nbsp;&nbsp;&nbsp;&nbsp; 951 |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR8, Class G, 4.01%, 10/17/2038 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6080 | &nbsp;&nbsp;&nbsp;&nbsp; 6002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR3, Class D, 4.45%, 4/17/2039 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1236 |
| &nbsp;&nbsp;&nbsp; RAMP Trust Series 2002-RS2, Class AI5, 4.53%, 3/25/2032 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp; Renaissance Home Equity Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-3, Class M1, 5.29%, 12/25/2032 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-1, Class M1, 5.29%, 6/25/2033 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-4, Class M1, 5.06%, 3/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 1058 | &nbsp;&nbsp;&nbsp;&nbsp; 966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-4, Class M2F, 6.24%, 3/25/2034 (i) | &nbsp;&nbsp;&nbsp;&nbsp; 581 | &nbsp;&nbsp;&nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp; Republic Finance Issuance Trust Series 2024-A, Class A, 5.91%, 8/20/2032 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1546 | &nbsp;&nbsp;&nbsp;&nbsp; 1562 |
| &nbsp;&nbsp;&nbsp; Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class D, 5.11%, 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp;&nbsp;&nbsp; 960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4, Class D, 5.32%, 12/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 574 | &nbsp;&nbsp;&nbsp;&nbsp; 583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class D, 4.95%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp;&nbsp;&nbsp; 512 |
| &nbsp;&nbsp;&nbsp; SASCO Mortgage Loan Trust Series 2004-GEL3, Class M1, 4.51%, 8/25/2034 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp; Saxon Asset Securities Trust Series 2004-2, Class MV2, 1.11%, 8/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp; SBA Small Business Investment Cos. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-10A, Class 1, 5.17%, 3/10/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1129 | &nbsp;&nbsp;&nbsp;&nbsp; 1150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-10B, Class 1, 5.69%, 9/10/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 465 | &nbsp;&nbsp;&nbsp;&nbsp; 483 |
| &nbsp;&nbsp;&nbsp; SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class D, 5.33%, 6/20/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class E, 6.21%, 6/20/2036 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 495 | &nbsp;&nbsp;&nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp; Securitized Asset-Backed Receivables LLC Trust Series 2005-OP1, Class M2, 4.46%, 1/25/2035 (l) | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp; Stanwich Mortgage Loan Co. LLC Series 2021-NPB1, Class A2, 8.38%, 10/16/2026 (d) (i) | &nbsp;&nbsp;&nbsp;&nbsp; 367 | &nbsp;&nbsp;&nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Pass-Through Certificates Series 2002-AL1, Class A3, 3.45%, 2/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Toyota Auto Loan Extended Note Trust Series 2021-1A, Class A, 1.07%, 2/27/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp; Upstart Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-PT3, Class A, 19.10%, 4/20/2030 ‡ (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp; 219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-PT4, Class A, 19.28%, 5/20/2030 ‡ (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 456 | &nbsp;&nbsp;&nbsp;&nbsp; 456 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Home Equity Asset-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class M8B, 5.00%, 10/25/2034 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class M8A, 8.29%, 10/25/2034 (d) (l) | &nbsp;&nbsp;&nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp;&nbsp; 305 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 69597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $95,722)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 93914 |
| **U.S. Treasury Obligations — 0.8%** | **U.S. Treasury Obligations — 0.8%** | **U.S. Treasury Obligations — 0.8%** |
| **United States — 0.8%** | **United States — 0.8%** | **United States — 0.8%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/31/2027 (q) | &nbsp;&nbsp;&nbsp;&nbsp; 71090 | &nbsp;&nbsp;&nbsp;&nbsp; 71480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp; 514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $72,320)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 72296 |
|  | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Preferred Stocks — 0.5%** | **Preferred Stocks — 0.5%** | **Preferred Stocks — 0.5%** |
| **United States — 0.5%** | **United States — 0.5%** | **United States — 0.5%** |
| &nbsp;&nbsp;&nbsp; Allstate Corp. (The) Series J, 7.38%, 7/15/2028 ($25 par value) (r) | &nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; 1764 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. Series II, 6.25%2/15/2031 ($25 par value) (r) | &nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp; 2395 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. Series H, 6.25%, 10/1/2085 ($25 par value) | &nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp; 2867 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, 6.38%, 4/15/2026<br> ($25 par value) (r)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 1560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K, 5.85%, 4/15/2027<br> ($25 par value) (r)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 254 | &nbsp;&nbsp;&nbsp;&nbsp; 6257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series P, 6.50%, 10/15/2027<br> ($25 par value) (r)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp;&nbsp; 3668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Q, 6.63%, 10/15/2029<br> ($25 par value) (r)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp; 6765 |
| &nbsp;&nbsp;&nbsp; MYT Holding LLC Series A, 10.00%, 6/6/2029 ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 2316 | &nbsp;&nbsp;&nbsp;&nbsp; 2934 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. Series U, 6.50%, 6/1/2085 ($25 par value) | &nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp; 2193 |
| &nbsp;&nbsp;&nbsp; SCE Trust VI 5.00%, 3/8/2026 ($25 par value) (r) | &nbsp;&nbsp;&nbsp;&nbsp; 333 | &nbsp;&nbsp;&nbsp;&nbsp; 6117 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. Series R, 4.75%, 6/1/2026 ($25 par value) (r) | &nbsp;&nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp;&nbsp;&nbsp; 1948 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. Series Z, 4.75%, 3/15/2026 ($25 par value) (r) | &nbsp;&nbsp;&nbsp;&nbsp; 332 | &nbsp;&nbsp;&nbsp;&nbsp; 6539 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. 6.25%, 10/15/2085 ($25 par value) | &nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; 2821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks <br>(Cost $49,404)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 47828 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE** <br>**($000)**<br>|
| **Convertible Bonds — 0.0% ^** | **Convertible Bonds — 0.0% ^** | **Convertible Bonds — 0.0% ^** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; EchoStar Corp. 3.88% (Cash), 11/30/2030 (j)(Cost $1,380) | &nbsp;&nbsp;&nbsp;&nbsp; 1321 | &nbsp;&nbsp;&nbsp;&nbsp; 4582 |
| **Mortgage-Backed Securities — 0.0% ^** | **Mortgage-Backed Securities — 0.0% ^** | **Mortgage-Backed Securities — 0.0% ^** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; FHLMC UMBS, 30 Year Pool # SD8238, 4.50%, 8/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 20 Year Pool # CA1231, 3.50%, 2/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 30 Year |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4398, 2.00%, 8/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 473 | &nbsp;&nbsp;&nbsp;&nbsp; 386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4465, 2.00%, 11/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4548, 2.50%, 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4563, 2.50%, 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4564, 3.00%, 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4624, 3.00%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp;&nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4733, 4.50%, 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; FNMA, Other Pool # BZ3537, 4.97%, 4/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1168 | &nbsp;&nbsp;&nbsp;&nbsp; 1207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Mortgage-Backed Securities <br>(Cost $2,145)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 2057 |
|  | &nbsp;&nbsp;&nbsp; **NO. OF** <br> **WARRANTS** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Warrants — 0.0% ^** | **Warrants — 0.0% ^** | **Warrants — 0.0% ^** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Audacy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; expiring 12/31/2049, price 1.00 USD \* | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; expiring 12/31/2049, price 1.00 USD ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; expiring 9/30/2028, price 1.00 USD ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Warrants <br>(Cost $4,630)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp; **NO. OF** <br> **RIGHTS** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Rights — 0.0% ^** | **Rights — 0.0% ^** | **Rights — 0.0% ^** |
| **Spain — 0.0% ^** | **Spain — 0.0% ^** | **Spain — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA\*(Cost $10) | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 10 |
|  | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Short-Term Investments — 3.7%** | **Short-Term Investments — 3.7%** | **Short-Term Investments — 3.7%** |
| **Certificates of Deposits — 0.0% ^** | **Certificates of Deposits — 0.0% ^** | **Certificates of Deposits — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG, 4.41%, 7/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada, 3.95%, 11/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Certificates of Deposits <br>(Cost $401)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 402 |
| **Commercial Paper — 0.1%** | **Commercial Paper — 0.1%** | **Commercial Paper — 0.1%** |
| &nbsp;&nbsp;&nbsp; Bell Canada (The), 4.14%, 3/3/2026 (d) (s) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC, 4.10%, 6/30/2026 (d) (s) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 246 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Short-Term Investments — continued** | **Short-Term Investments — continued** | **Short-Term Investments — continued** |
| **Commercial Paper — continued** | **Commercial Paper — continued** | **Commercial Paper — continued** |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo Funding LLC, 4.52%, 2/23/2026 (s) | &nbsp;&nbsp;&nbsp;&nbsp; 478 | &nbsp;&nbsp;&nbsp;&nbsp; 477 |
| &nbsp;&nbsp;&nbsp; Penske Truck Leasing Co. LP, 4.17%, 2/20/2026 (s) | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co., 3.93%, 2/4/2026 (s) | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 500 |
| &nbsp;&nbsp;&nbsp; Toyota Credit de Puerto Rico Corp., 4.00%, 6/8/2026 (s) | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Paper <br>(Cost $1,849)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 1849 |
|  | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Investment Companies — 2.4%** | **Investment Companies — 2.4%** | **Investment Companies — 2.4%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class IM Shares, 3.79% (n) (t) | &nbsp;&nbsp;&nbsp;&nbsp; 27488 | &nbsp;&nbsp;&nbsp;&nbsp; 27499 |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class Institutional Shares, 3.69% (n) (t) | &nbsp;&nbsp;&nbsp;&nbsp; 181612 | &nbsp;&nbsp;&nbsp;&nbsp; 181684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $209,182)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 209183 |
| **Investment of Cash Collateral from Securities Loaned — 1.2%** | **Investment of Cash Collateral from Securities Loaned — 1.2%** | **Investment of Cash Collateral from Securities Loaned — 1.2%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 3.68% (n) (t)(Cost $104,973) | &nbsp;&nbsp;&nbsp;&nbsp; 104973 | &nbsp;&nbsp;&nbsp;&nbsp; 104973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $316,405)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 316407 |
| **Total Investments — 99.7%** <br>**(Cost $7,774,061)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **8613383** |
| **Other Assets in Excess of Liabilities — 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **27838** |
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **8641221** |

---

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

---

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

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| ABS | Asset-Backed Securities |
| ACES | Alternative Credit Enhancement Securities |
| ADR | American Depositary Receipt |
| CHDI | Clearing House Electronic Subregister System (CHESS) Depository Interest |
| CLO | Collateralized Loan Obligations |
| CME | Chicago Mercantile Exchange |
| CPI | Consumer Price Index |
| CSMC | Credit Suisse Mortgage Trust |
| CVA | Certificaten Van Aandelen (Dutch Certificate) |
| ELN | Equity-Linked Note |
| ETF | Exchange Traded Fund |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GDR | Global Depositary Receipt |
| GNMA | Government National Mortgage Association |
| ICE | Intercontinental Exchange |
| IF | Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index or have an interest <br> rate that adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the <br> rate in effect as of January 31, 2026. The rate may be subject to a cap and floor.<br>|

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | |
|:---|:---|
| IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown <br> represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or <br> refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.<br>|
| JSC | Joint Stock Company |
| OYJ | Public Limited Company |
| PIK | Payment In Kind |
| PJSC | Public Joint Stock Company |
| PO | Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is <br> extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on <br> these securities increases.<br>|
| Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference <br> shares may also have liquidation preference.<br>|
| PT | Limited liability company |
| REIT | Real Estate Investment Trust |
| REMIC | Real Estate Mortgage Investment Conduit |
| RTS | Russian Trading System |
| SCA | Limited partnership with share capital |
| SGPS | Holding company |
| SOFR | Secured Overnight Financing Rate |
| SOFRINDX | Compounding index of the Secured Overnight Financing Rate |
| STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal <br> components of eligible notes and bonds as separate securities.<br>|
| UMBS | Uniform Mortgage-Backed Securities |
| USD | United States Dollar |

---

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

---

| | |
|:---|:---|
| ^ | Amount rounds to less than 0.1% of net assets. |
| ‡ | Value determined using significant unobservable inputs. |
| \* | Non-income producing security.  |
| (a) | The security or a portion of this security is on loan at January 31, 2026. The total value of securities on loan at January 31, 2026 is <br> $97,269.<br>|
| (b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities <br> offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have <br> restrictions on resale.<br>|
| (c) | Value is zero. |
| (d) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
| (e) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of January 31, 2026. |
| (f) | Contingent Capital security ("CoCo"). CoCos are hybrid debt securities that may be convertible into equity or may be written down if a <br> pre-specified trigger event occurs. The total value of aggregate CoCo holdings at January 31, 2026 is $205,503 or 2.38% of the Fund's net <br> assets as of January 31, 2026.<br>|
| (g) | Security is an interest bearing note with preferred security characteristics. |
| (h) | Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time <br> and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in <br> effect as of January 31, 2026.<br>|
| (i) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a <br> predetermined trigger. The interest rate shown is the current rate as of January 31, 2026. <br>|
| (j) | Security has the ability to pay in kind ("PIK") or pay income in cash. When applicable, separate rates of such payments are disclosed. |
| (k) | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. |
| (l) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments <br> on the underlying pool of assets. The interest rate shown is the current rate as of January 31, 2026. <br>|
| (m) | Defaulted security. |
| (n) | 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>|
| (o) | Loan assignments are presented by obligor. Each series or loan tranche underlying each obligor may have varying terms. |
| (p) | All or a portion of this security is unsettled as of January 31, 2026. Unless otherwise indicated, the coupon rate is undetermined. The coupon <br> rate shown may not be accrued for the entire position.<br>|
| (q) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. |
| (r) | The date shown reflects the next call date on which the issuer may redeem the security at par value. The coupon rate for this security is based <br> on par value and is in effect as of January 31, 2026.<br>|
| (s) | The rate shown is the effective yield as of January 31, 2026.  |
| (t) | The rate shown is the current yield as of January 31, 2026. |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

**Summary of Investments by Industry, January 31, 2026**

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

---

| | |
|:---|:---|
| **INDUSTRY** | **PERCENT OF** <br>**TOTAL** <br>**INVESTMENTS**<br>|
| U.S. Equity | 9.8<br> %<br>|
| Banks | 7.9 |
| Oil, Gas & Consumable Fuels | 6.1 |
| Convertible Bonds | 5.7 |
| Commercial Mortgage-Backed Securities | 4.4 |
| Foreign Government Securities | 3.6 |
| Collateralized Mortgage Obligations | 3.4 |
| Semiconductors & Semiconductor Equipment | 3.2 |
| Diversified Telecommunication Services | 3.2 |
| Media | 2.9 |
| Electric Utilities | 2.4 |
| Capital Markets | 2.3 |
| Pharmaceuticals | 2.3 |
| Hotels, Restaurants & Leisure | 2.0 |
| Insurance | 1.8 |
| Software | 1.5 |
| Chemicals | 1.3 |
| Health Care Providers & Services | 1.3 |
| Building Products | 1.3 |
| Metals & Mining | 1.2 |
| Automobile Components | 1.2 |
| Commercial Services & Supplies | 1.2 |
| Financial Services | 1.2 |
| Multi-Utilities | 1.2 |
| Aerospace & Defense | 1.1 |
| Asset-Backed Securities | 1.1 |
| Specialty Retail | 1.1 |
| Machinery | 1.0 |
| Consumer Staples Distribution & Retail | 1.0 |
| Entertainment | 1.0 |
| Others (each less than 1.0%) | 17.6 |
| Short-Term Investments | 3.7 |

---

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

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

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

**Futures contracts outstanding as of January 31, 2026 (amounts in thousands, except number of contracts):**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **DESCRIPTION** | &nbsp;&nbsp;&nbsp; **NUMBER OF** <br>**CONTRACTS**<br>| **EXPIRATION DATE** | **TRADING CURRENCY** | &nbsp;&nbsp;&nbsp; **NOTIONAL** <br>**AMOUNT ($)**<br>| &nbsp;&nbsp;&nbsp; **VALUE AND** <br>**UNREALIZED** <br>**APPRECIATION** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| **Long Contracts** |  |  |  |  |  |
| MSCI Emerging Markets Index | &nbsp;&nbsp;&nbsp;&nbsp; 1182 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 89897 | &nbsp;&nbsp;&nbsp;&nbsp; 4352 |
| MSCI Europe Equity Index | &nbsp;&nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3541 | &nbsp;&nbsp;&nbsp;&nbsp; 14 |
| NASDAQ 100 E-Mini Index | &nbsp;&nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 195735 | &nbsp;&nbsp;&nbsp;&nbsp; (2067)<br>|
| U.S. Treasury 10 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; 11153 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 1246348 | &nbsp;&nbsp;&nbsp;&nbsp; (14830)<br>|
| U.S. Treasury 5 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; 12857 | &nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 1400308 | &nbsp;&nbsp;&nbsp;&nbsp; (9260)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (21791)<br>|
| **Short Contracts** |  |  |  |  |  |
| EURO STOXX 50 Index | &nbsp;&nbsp;&nbsp;&nbsp; (3166)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; (223180)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7249)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (29040)<br>|

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| EUR | Euro |
| MSCI | Morgan Stanley Capital International |
| USD | United States Dollar |

---

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

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CURRENCY** <br>**PURCHASED** | **CURRENCY** <br>**PURCHASED** | &nbsp;&nbsp;&nbsp; **CURRENCY** <br>**SOLD** | &nbsp;&nbsp;&nbsp; **CURRENCY** <br>**SOLD** | **COUNTERPARTY** | &nbsp;&nbsp;&nbsp; **SETTLEMENT** <br>**DATE**<br>| &nbsp;&nbsp; **UNREALIZED** <br>**APPRECIATION** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3768 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3154 | Morgan Stanley | 3/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 25 |
| Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | &nbsp;&nbsp;&nbsp;&nbsp; 25 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3154 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3763 | Morgan Stanley | 2/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (24)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3704 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3154 | HSBC Bank, NA | 2/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (35)<br>|
| Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | &nbsp;&nbsp;&nbsp;&nbsp; (59)<br>|
| Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | &nbsp;&nbsp;&nbsp;&nbsp; (34)<br>|

---

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

---

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

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

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

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

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

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

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

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

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

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

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

See the table on "Quantitative Information about Level 3 Fair Value Measurements" for information on the valuation techniques and inputs used to value level 3 securities held by the Fund at January 31, 2026.

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

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

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

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

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

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cayman Islands | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $22335 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $22335 |
| &nbsp;&nbsp;&nbsp; Jersey | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1982 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1982 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 65027 | &nbsp;&nbsp;&nbsp;&nbsp; 4570 | &nbsp;&nbsp;&nbsp;&nbsp; 69597 |
| &nbsp;&nbsp;&nbsp; Total Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 89344 | &nbsp;&nbsp;&nbsp;&nbsp; 4570 | &nbsp;&nbsp;&nbsp;&nbsp; 93914 |
| Collateralized Mortgage Obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 291889 | &nbsp;&nbsp;&nbsp;&nbsp; 2253 | &nbsp;&nbsp;&nbsp;&nbsp; 294142 |
| Commercial Mortgage-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 378625 | &nbsp;&nbsp;&nbsp;&nbsp; 797 | &nbsp;&nbsp;&nbsp;&nbsp; 379422 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38304 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38304 |
| &nbsp;&nbsp;&nbsp; Austria | &nbsp;&nbsp;&nbsp;&nbsp; 784 | &nbsp;&nbsp;&nbsp;&nbsp; 10790 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11574 |
| &nbsp;&nbsp;&nbsp; Belgium | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7357 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7357 |
| &nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp;&nbsp; 34738 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34738 |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp;&nbsp; 78975 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 78975 |
| &nbsp;&nbsp;&nbsp; Chile | &nbsp;&nbsp;&nbsp;&nbsp; 1974 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1974 |
| &nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp;&nbsp; 8479 | &nbsp;&nbsp;&nbsp;&nbsp; 104290 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 112769 |
| &nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21262 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21262 |
| &nbsp;&nbsp;&nbsp; Finland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 36870 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 36870 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 131910 | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 131965 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 93389 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 93389 |
| &nbsp;&nbsp;&nbsp; Greece | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8597 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8597 |
| &nbsp;&nbsp;&nbsp; Guatemala | &nbsp;&nbsp;&nbsp;&nbsp; 2572 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2572 |
| &nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21320 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21320 |
| &nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp;&nbsp;&nbsp; 1452 | &nbsp;&nbsp;&nbsp;&nbsp; 21695 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23147 |
| &nbsp;&nbsp;&nbsp; Indonesia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17270 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17270 |
| &nbsp;&nbsp;&nbsp; Iraq | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5758 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5758 |
| &nbsp;&nbsp;&nbsp; Israel | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2331 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2331 |
| &nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 64434 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 64434 |
| &nbsp;&nbsp;&nbsp; Ivory Coast | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2880 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2880 |
| &nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp;&nbsp; 2004 | &nbsp;&nbsp;&nbsp;&nbsp; 108551 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 110555 |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2656 | &nbsp;&nbsp;&nbsp;&nbsp; 3920 | &nbsp;&nbsp;&nbsp;&nbsp; 6576 |
| &nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp;&nbsp; 18219 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18219 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; 14440 | &nbsp;&nbsp;&nbsp;&nbsp; 75036 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 89476 |
| &nbsp;&nbsp;&nbsp; New Zealand | &nbsp;&nbsp;&nbsp;&nbsp; 602 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 602 |
| &nbsp;&nbsp;&nbsp; Norway | &nbsp;&nbsp;&nbsp;&nbsp; 5663 | &nbsp;&nbsp;&nbsp;&nbsp; 19364 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25027 |
| &nbsp;&nbsp;&nbsp; Peru | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1500 |
| &nbsp;&nbsp;&nbsp; Poland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2120 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2120 |
| &nbsp;&nbsp;&nbsp; Portugal | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3432 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3432 |
| &nbsp;&nbsp;&nbsp; Russia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; —(a)<br>|
| &nbsp;&nbsp;&nbsp; Saudi Arabia | &nbsp;&nbsp;&nbsp;&nbsp; 6523 | &nbsp;&nbsp;&nbsp;&nbsp; 7852 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14375 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; Singapore | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $25818 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $25818 |
| &nbsp;&nbsp;&nbsp; South Africa | &nbsp;&nbsp;&nbsp;&nbsp; 9794 | &nbsp;&nbsp;&nbsp;&nbsp; 11199 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20993 |
| &nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp;&nbsp; 6184 | &nbsp;&nbsp;&nbsp;&nbsp; 62325 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 68509 |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp; 8289 | &nbsp;&nbsp;&nbsp;&nbsp; 30227 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38516 |
| &nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52783 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52783 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17924 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17924 |
| &nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 130047 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 130047 |
| &nbsp;&nbsp;&nbsp; Thailand | &nbsp;&nbsp;&nbsp;&nbsp; 4802 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4802 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; 12413 | &nbsp;&nbsp;&nbsp;&nbsp; 133492 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 145905 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; 1182737 | &nbsp;&nbsp;&nbsp;&nbsp; 96433 | &nbsp;&nbsp;&nbsp;&nbsp; 15016 | &nbsp;&nbsp;&nbsp;&nbsp; 1294186 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 1402144 | &nbsp;&nbsp;&nbsp;&nbsp; 1368024 | &nbsp;&nbsp;&nbsp;&nbsp; 18991 | &nbsp;&nbsp;&nbsp;&nbsp; 2789159 |
| Convertible Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4582 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4582 |
| Corporate Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Angola | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3344 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3344 |
| &nbsp;&nbsp;&nbsp; Argentina | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3149 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3149 |
| &nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1661 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1661 |
| &nbsp;&nbsp;&nbsp; Austria | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3524 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3524 |
| &nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16079 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16079 |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 134905 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 134905 |
| &nbsp;&nbsp;&nbsp; Colombia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7171 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7171 |
| &nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp; El Salvador | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 307 |
| &nbsp;&nbsp;&nbsp; Finland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11362 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11362 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 57729 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 57729 |
| &nbsp;&nbsp;&nbsp; Georgia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 667 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 667 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6128 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6128 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1818 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1818 |
| &nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5711 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5711 |
| &nbsp;&nbsp;&nbsp; Jamaica | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2730 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2730 |
| &nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9533 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9533 |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7046 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7046 |
| &nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33689 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33689 |
| &nbsp;&nbsp;&nbsp; Morocco | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3426 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3426 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17636 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17636 |
| &nbsp;&nbsp;&nbsp; New Zealand | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp; Paraguay | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 237 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp; Peru | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2803 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2803 |
| &nbsp;&nbsp;&nbsp; South Africa | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4042 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4042 |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28334 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28334 |
| &nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5524 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5524 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20245 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20245 |
| &nbsp;&nbsp;&nbsp; Trinidad And Tobago | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 878 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 878 |
| &nbsp;&nbsp;&nbsp; Turkey | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3656 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3656 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 73479 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 73479 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2217465 | &nbsp;&nbsp;&nbsp;&nbsp; 384 | &nbsp;&nbsp;&nbsp;&nbsp; 2217849 |
| &nbsp;&nbsp;&nbsp; Uzbekistan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4511 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4511 |
| &nbsp;&nbsp;&nbsp; Venezuela, Bolivarian Republic of | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8434 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8434 |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; Total Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2697766 | &nbsp;&nbsp;&nbsp;&nbsp; 384 | &nbsp;&nbsp;&nbsp;&nbsp; 2698150 |
| Equity Linked Notes | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $488985 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $488985 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 870588 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 870588 |
| Foreign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 307708 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 307708 |
| Loan Assignments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3334 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3334 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 523 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 523 |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3838 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3838 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3179 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3179 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 217774 | &nbsp;&nbsp;&nbsp;&nbsp; 19273 | &nbsp;&nbsp;&nbsp;&nbsp; 237047 |
| &nbsp;&nbsp;&nbsp; Total Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 228803 | &nbsp;&nbsp;&nbsp;&nbsp; 19273 | &nbsp;&nbsp;&nbsp;&nbsp; 248076 |
| Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2057 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2057 |
| Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; 44894 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2934 | &nbsp;&nbsp;&nbsp;&nbsp; 47828 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10 |
| U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 72296 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 72296 |
| Warrants |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 59 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Certificates of Deposits | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 402 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 402 |
| &nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1849 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1849 |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 209183 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 209183 |
| &nbsp;&nbsp;&nbsp; Investment of Cash Collateral from Securities Loaned | &nbsp;&nbsp;&nbsp;&nbsp; 104973 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 104973 |
| &nbsp;&nbsp;&nbsp; Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; 314156 | &nbsp;&nbsp;&nbsp;&nbsp; 2251 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 316407 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $2631792 | &nbsp;&nbsp;&nbsp;&nbsp; $5932389 | &nbsp;&nbsp;&nbsp;&nbsp; $49202 | &nbsp;&nbsp;&nbsp;&nbsp; $8613383 |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $25 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $25 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; 4366 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4366 |
| **Depreciation in Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(59)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(59)<br>|
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; (33406)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (33406)<br>|
| **Total Net Appreciation/ Depreciation in Other** <br>**Financial Instruments**<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(29040)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(34)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(29074)<br>|

---

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

(a) Value is zero.

(b) Amount rounds to less than one thousand.

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Balance as of** <br>**October 31,** <br>**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>**January 31,** <br>**2026**<br>|
| **Investments in Securities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | $5576 | $— | $18 | $(1)<br>| $— | $(1023)<br>| $— | $— | $4570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage <br> Obligations<br>| 2531 |  | 8 | (2)<br>| 1278 | (1562)<br>|  |  | 2253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage-Backed <br> Securities<br>|  |  |  |  | 797 |  |  |  | 797 |
| &nbsp;&nbsp;&nbsp; Common Stocks | 10480 | (2888)<br>| 2502 |  | 5901 | (3806)<br>| 6802 |  | 18991 |
| &nbsp;&nbsp;&nbsp; Convertible Preferred Stocks |  | (5709)<br>| 5709 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds | 2762 | 794 | 448 | 22 | 14 | (3656)<br>|  |  | 384 |
| &nbsp;&nbsp;&nbsp; Loan Assignments | 9026 | (2161)<br>| 3805 | 3103 | 5677 | (177)<br>|  |  | 19273 |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | 2837 |  | 97 |  |  |  |  |  | 2934 |
| &nbsp;&nbsp;&nbsp; Warrants | —<br> (a)<br>|  |  |  |  |  |  |  | —<br> (a)<br>|
| **Total** | $33212 | $(9964)<br>| $12587 | $3122 | $13667 | $(10224)<br>| $6802 | $— | $49202 |

---

&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) Amount rounds to less than one thousand.

The changes in net unrealized appreciation (depreciation) attributable to securities owned at January 31, 2026, which were valued using significant unobservable inputs (level 3) amounted to $12,587.

There were no significant transfers into or out of level 3 for the period ended January 31, 2026.

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value at**<br> **January 31, 2026**<br>| &nbsp;&nbsp; **Valuation**<br> **Technique(s)**<br>| &nbsp;&nbsp; **Unobservable**<br> **Input**<br>| &nbsp;&nbsp; **Range (Weighted**<br> **Average) (a)**<br>|
|  | &nbsp;&nbsp; $478<br>| Market Comparable Companies | EBITDA Multiple (b) | 12.13x (12.13x) |
|  |  |  | Discount for Potential Outcome | 20.00% (20.00%) |
|  | &nbsp;&nbsp; 23<br>| Terms of Restructuring | Expected Recovery | $0.01 ($0.01) |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; 501<br>|  |  |  |
|  | &nbsp;&nbsp; 381<br>| Market Comparable Companies | EBITDA Multiple (b) | 12.13x (12.13x) |
|  |  |  | Discount for Potential Outcome | 20.00% (20.00%) |
|  | &nbsp;&nbsp; -<br>| Terms of Restructuring | Expected Recovery | 0.00% (0.00%) |
| &nbsp;&nbsp;&nbsp; Corporate Bonds | &nbsp;&nbsp; 381<br>|  |  |  |
|  | &nbsp;&nbsp; 219<br>| Discounted Cash Flow | Constant Prepayment Rate | 15.00% (15.00%) |
|  |  |  | Constant Default Rate | 12.00% (12.00%) |
|  |  |  | Yield (Discount Rate of Cash Flows) | 7.18% (7.18%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed <br> Securities<br>| &nbsp;&nbsp; 219<br>|  |  |  |

---

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value at**<br> **January 31, 2026**<br>| &nbsp;&nbsp; **Valuation**<br> **Technique(s)**<br>| &nbsp;&nbsp; **Unobservable**<br> **Input**<br>| &nbsp;&nbsp; **Range (Weighted**<br> **Average) (a)**<br>|
|  | &nbsp;&nbsp; 19274<br>| Terms of Restructuring | Expected Recovery | 0.00% - 100.00% (76.36%) |
| &nbsp;&nbsp;&nbsp; Loan Assignments | &nbsp;&nbsp; 19274<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $20375<br>|  |  |  |

---

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

# The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At January 31, 2026, the value of these investments was $28,827. 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) Represents amounts used when the reporting entity has determined that market participants would take into account such multiples when pricing the investments. 

**B. Investment Transactions with Affiliates**— The Fund invested in Underlying Funds and ETFs advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated issuers. Underlying Funds' and ETFs' distributions may be reinvested into the Underlying Funds and ETFs. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** |
| **Security Description** | **Value at** <br>**October 31,** <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>**January 31,** <br>**2026**<br>| **Shares at** <br>**January 31,** <br>**2026**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| JPMorgan Income ETF (a) | $23867 | $— | $— | $— | $39 | $23906 | 514 | $335 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan Nasdaq Equity Premium Income <br> ETF (a)<br>| 841981 |  |  |  | 4701 | 846682 | 14247 | 22864 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund <br> Class IM Shares, 3.79% (a) (b)<br>| 37158 | 71434 | 81094 | (1)<br>| 2 | 27499 | 27488 | 278 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund <br> Class Institutional Shares, 3.69% (a) (b)<br>| 261013 | 1274041 | 1353397 | 1 | 26 | 181684 | 181612 | 2601 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market <br> Fund Agency SL Class Shares, 3.68% <br> (a) (b)<br>| 72131 | 173205 | 140363 |  |  | 104973 | 104973 | 1200 |  |
| **Total** | $1236150 | $1518680 | $1574854 | $— | $4768 | $1184744 |  | $27278 | $— |

---

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

 <br> (a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. <br> (b) The rate shown is the current yield as of January 31, 2026.

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

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

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

------

**JPMorgan Income Builder Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

ISDA agreements give the Fund and a counterparty the right, upon an event of default, to close out all transactions traded under such agreements and to net amounts owed or due across all transactions and offset such net payable or receivable against collateral posted to a segregated account by one party for the benefit of the other.

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

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

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

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

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

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

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

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

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

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

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 390 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $8790480851.13

**Total Liabilities:** $149987521.05

**Net Assets:** $8640493330.08

**Cash Not Reported:** $100391968.87

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 954.25622000 | **1-Year:** 42443.20085000 | **5-Year:** 115606.95393000 | **10-Year:** 114979.35027000 | **30-Year:** 17312.06343000

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

- **3-Month:** 7025.17768000 | **1-Year:** 152873.82411000 | **5-Year:** 630729.17413000 | **10-Year:** 176751.99676000 | **30-Year:** 123503.66008000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000042873 | 0.93%                | 0.47%                | 2.08%                |
| Class ID C000042871 | 0.92%                | 0.46%                | 1.97%                |
| Class ID C000042872 | 0.98%                | 0.42%                | 1.94%                |
| Class ID C000195048 | 0.94%                | 0.48%                | 2.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-28504543.39            | $58942589.82                               |
| Month 2  | $-1801225.36             | $14293813.01                               |
| Month 3  | $41668627.31             | $109688538.10                              |

**Designated Index Information**

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

- **Index Identifier:** IBXUSD000059

### Schedule of Portfolio Investments

| Name                                                                        | Title                                                                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |     Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bombardier, Inc.                                                            | Bombardier, Inc.                                                                                       | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     4448000 | PA      | $4722281.47   | 0.05%             | 2031-07-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: —       |
| Medline Borrower LP                                                         | Medline Borrower LP, 1st Lien Term Loan                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      520662 | PA      | $521901.03    | 0.01%             | 2028-10-23      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 10.70%, 02/13/2026                                                    | CUSIP: 61778U683<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       18069 | PA      | $4327194.28   | 0.05%             | 2026-02-13      | Fixed         | 10.70%                | No            |                  2 | On Loan: No      |
| New Mexican Pesos                                                           | New Mexican Pesos                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | MX        |          89 | OU      | $5.07         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust, Series 2019-L2, Class D                                                | CUSIP: 61768HAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     7075000 | PA      | $5614828.96   | 0.06%             | 2052-03-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| AWS Claire's LLC                                                            | AWS Claire's LLC, 1st Lien Term Loan                                                                   | CUSIP: 05455VAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      159650 | PA      | $159649.90    | 0.00%             | 2030-09-18      | Variable      | 10.00%                | No            |                  3 | On Loan: No      |
| Benin Government International Bond                                         | Benin Government Bond                                                                                  | CUSIP: 08205QAA6<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |     1332000 | PA      | $1392685.92   | 0.02%             | 2038-02-13      | Fixed         | 7.96%                 | Yes           |                  2 | On Loan: No      |
| NuStar Logistics LP                                                         | NuStar Logistics LP                                                                                    | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |     3036000 | PA      | $3039971.09   | 0.04%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Elanco Animal Health, Inc.                                                  | Elanco Animal Health, Inc., 1st Lien Term Loan B                                                       | CUSIP: 28414BAJ5<br>LEI: 549300SHPNDCE059M934 | Long             | LON              | CORP              | US        |      147894 | PA      | $147783.12    | 0.00%             | 2032-10-29      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| SKF AB                                                                      | SKF AB, Class B                                                                                        | CUSIP: N/A<br>LEI: 549300B6HWYEE57O8J84       | Long             | EC               | CORP              | SE        |       60053 | NS      | $1570187.45   | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| Energizer Holdings, Inc.                                                    | Energizer Holdings, Inc.                                                                               | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |     5141000 | PA      | $4937837.96   | 0.06%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Flash Compute LLC                                                           | Flash Compute LLC                                                                                      | CUSIP: 33853QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1723000 | PA      | $1728846.14   | 0.02%             | 2030-12-31      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418D6B3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       42580 | PA      | $34693.44     | 0.00%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                                      | Sonic Automotive, Inc.                                                                                 | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |     3836000 | PA      | $3769760.72   | 0.04%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| Accendra Health, Inc.                                                       | Accendra Health, Inc.                                                                                  | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |     2204000 | PA      | $1239709.23   | 0.01%             | 2030-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: —       |
| Telecom Plus plc                                                            | Telecom Plus plc                                                                                       | CUSIP: N/A<br>LEI: 549300QGHDX5UKE58G86       | Long             | EC               | CORP              | GB        |       72876 | NS      | $1331329.85   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Option One Mortgage Acceptance Corp. Asset-Backed Certificates              | Option One Mortgage Accept Corp. Asset-Backed Certificates, Series 2003-5, Class A2                    | CUSIP: 68400XBS8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      191168 | PA      | $201136.34    | 0.00%             | 2033-08-25      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| Lsf12 Helix Parent LLC                                                      | Lsf12 Helix Parent LLC                                                                                 | CUSIP: 548916AA3<br>LEI: 254900H70V4IL22BHL88 | Long             | DBT              | CORP              | US        |     1177000 | PA      | $1180454.92   | 0.01%             | 2033-02-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| ONEOK, Inc.                                                                 | ONEOK, Inc.                                                                                            | CUSIP: 682680CW1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |      522000 | PA      | $495941.79    | 0.01%             | 2044-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Diebold Nixdorf, Inc.                                                       | Diebold Nixdorf, Inc.                                                                                  | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |     1924000 | PA      | $2037658.38   | 0.02%             | 2030-03-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| American Home Mortgage Investment Trust                                     | American Home Mortgage Investment Trust, Series 2007-2, Class 12A1                                     | CUSIP: 02660CAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3892612 | PA      | $1349339.61   | 0.02%             | 2037-03-25      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities                                               | Connecticut Avenue Securities, Series 2025-R01, Class 1B1                                              | CUSIP: 20755JAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1600000 | PA      | $1595013.44   | 0.02%             | 2045-01-25      | Floating      | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                       | Clydesdale Acquisition Holdings, Inc.                                                                  | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |      142000 | PA      | $143251.02    | 0.00%             | 2029-04-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Nutrien Ltd.                                                                | Nutrien Ltd.                                                                                           | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |       75620 | NS      | $5206459.08   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NovaStar Mortgage Funding Trust                                             | NovaStar Mortgage Funding Trust, Series 2003-2, Class M2                                               | CUSIP: 66987WAS6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      462372 | PA      | $468142.44    | 0.01%             | 2033-09-25      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Partners Group Holding AG                                                   | Partners Group Holding AG                                                                              | CUSIP: N/A<br>LEI: 549300I3IVVWZWDHI788       | Long             | EC               | CORP              | CH        |        1866 | NS      | $2544374.02   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ciena Corp.                                                                 | Ciena Corp.                                                                                            | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |     2329000 | PA      | $2245540.05   | 0.03%             | 2030-01-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies BV                                                     | Sensata Technologies BV                                                                                | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |     1870000 | PA      | $1897795.68   | 0.02%             | 2030-09-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                                         | GS Mortgage-Backed Securities Trust, Series 2025-PJ7, Class A1                                         | CUSIP: 36272MAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2580189 | PA      | $2619965.11   | 0.03%             | 2055-12-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp, Series J                                                                                   | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     1216000 | PA      | $1217168.58   | 0.01%             | 2027-04-15      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Co. (The)                                                       | Kraft Heinz Co. (The)                                                                                  | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |      165181 | NS      | $3921396.94   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: 53944YBB8<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |     2000000 | PA      | $2080352.00   | 0.02%             | 2031-09-27      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                          | Banco Santander SA                                                                                     | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |      400000 | PA      | $406386.78    | 0.00%             | 2028-03-14      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Republic of Turkiye (The)                                                   | Republic of Turkiye (The)                                                                              | CUSIP: 900123BJ8<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      470000 | PA      | $416067.50    | 0.00%             | 2041-01-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Logista Integral SA                                                         | Logista Integral SA                                                                                    | CUSIP: N/A<br>LEI: 9598000ANNAL42UJ7X28       | Long             | EC               | CORP              | ES        |       50067 | NS      | $1826280.14   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| China Yangtze Power Co. Ltd.                                                | China Yangtze Power Co. Ltd., Class A                                                                  | CUSIP: N/A<br>LEI: 3003008VX8JFJXA6QP74       | Long             | EC               | CORP              | CN        |      624700 | NS      | $2365774.54   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                                                                   | Orange SA                                                                                              | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |      235054 | NS      | $4369663.37   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Eaton Corp. plc                                                             | Eaton Corp. plc                                                                                        | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |       25067 | NS      | $8809045.14   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO Group, Inc. (The)                                                       | GEO Group, Inc. (The)                                                                                  | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |      471000 | PA      | $513917.52    | 0.01%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                                   | Standard Industries, Inc.                                                                              | CUSIP: 853496AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      191000 | PA      | $184259.92    | 0.00%             | 2030-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Blackfin Pipeline LLC                                                       | Blackfin Pipeline LLC, 1st Lien Term Loan                                                              | CUSIP: 09231PAB2<br>LEI: 254900F4BUS186SK8A51 | Long             | LON              | CORP              | US        |      548625 | PA      | $551823.48    | 0.01%             | 2030-09-30      | Variable      | 6.69%                 | No            |                  2 | On Loan: No      |
| Asset-Backed Securities Corp. Home Equity Loan Trust                        | Asset-Backed Securities Corp. Home Equity Loan Trust, Series 2004-HE2, Class M2                        | CUSIP: 04541GHX3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        4694 | PA      | $43764.75     | 0.00%             | 2034-04-25      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| BWX Technologies, Inc.                                                      | BWX Technologies, Inc.                                                                                 | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |     2624000 | PA      | $2585046.72   | 0.03%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                                         | Nexstar Media, Inc.                                                                                    | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     9939000 | PA      | $9941544.38   | 0.12%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Williams Scotsman, Inc.                                                     | Williams Scotsman, Inc.                                                                                | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |      618000 | PA      | $640316.60    | 0.01%             | 2030-04-15      | Fixed         | 6.62%                 | Yes           |                  2 | 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        |      609092 | PA      | $609377.98    | 0.01%             | 2030-08-16      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                     | Talen Energy Supply LLC                                                                                | CUSIP: 87422VAM0<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |     6556000 | PA      | $6644243.76   | 0.08%             | 2034-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: —       |
| Adient Global Holdings Ltd.                                                 | Adient Global Holdings Ltd.                                                                            | CUSIP: 00687YAB1<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |     3066000 | PA      | $3135708.58   | 0.04%             | 2028-04-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Gulfport Energy Corp.                                                       | Gulfport Energy Corp.                                                                                  | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |        8171 | NS      | $1668273.07   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284VAG6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |      389000 | PA      | $388146.38    | 0.00%             | 2028-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Archer-Daniels-Midland Co.                                                  | Archer-Daniels-Midland Co.                                                                             | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |       77234 | NS      | $5198620.54   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                          | Renaissance Home Equity Loan Trust, Series 2003-4, Class M2F                                           | CUSIP: 759950BV9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      581123 | PA      | $363512.90    | 0.00%             | 2034-03-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     2568000 | PA      | $2764549.58   | 0.03%             | 2032-01-15      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| Nordea Bank Abp                                                             | Nordea Bank Abp                                                                                        | CUSIP: 65558RAQ2<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |     3436000 | PA      | $3530225.43   | 0.04%             | 2033-11-10      | Variable      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP                                                           | Genesis Energy LP                                                                                      | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      759000 | PA      | $792026.37    | 0.01%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                      | Santander Drive Auto Receivables Trust, Series 2025-4, Class D                                         | CUSIP: 802923AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      510000 | PA      | $511872.92    | 0.01%             | 2032-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Entergy Corp.                                                               | Entergy Corp.                                                                                          | CUSIP: 29364GAJ2<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |      250000 | PA      | $248486.38    | 0.00%             | 2026-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     1740000 | PA      | $1798591.37   | 0.02%             | 2031-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    15316000 | PA      | $15231673.17  | 0.18%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                                   | Telecom Italia Capital SA                                                                              | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |      144000 | PA      | $151069.10    | 0.00%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp.                                                         | Expand Energy Corp.                                                                                    | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    11991000 | PA      | $12054907.83  | 0.14%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Petroleos de Venezuela SA                                                   | Petroleos de Venezuela SA                                                                              | CUSIP: N/A<br>LEI: 549300YWR8TN1OFD4P06       | Long             | DBT              | NUSS              | VE        |      619500 | PA      | $625695.00    | 0.01%             | 2020-10-27      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Bausch + Lomb Corp.                                                         | Bausch + Lomb Corp.                                                                                    | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |      745000 | PA      | $776662.50    | 0.01%             | 2028-10-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                                  | Warnermedia Holdings, Inc.                                                                             | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     2265000 | PA      | $1591162.50   | 0.02%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                                | Pacific Gas and Electric Co.                                                                           | CUSIP: 694308KQ9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     1080000 | PA      | $1115661.04   | 0.01%             | 2029-05-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BMW US Capital LLC                                                          | BMW US Capital LLC                                                                                     | CUSIP: 05565ECL7<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |      240000 | PA      | $240153.06    | 0.00%             | 2026-04-02      | Floating      | 4.20%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418ED64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       60809 | PA      | $54082.87     | 0.00%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Norwegian Krone                                                             | Norwegian Krone                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | NO        |       11727 | OU      | $1217.66      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                                         | Fifth Third Bancorp, Series H                                                                          | CUSIP: 316773CM0<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |     1946000 | PA      | $1951723.19   | 0.02%             | 2026-03-08      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                           | Exxon Mobil Corp.                                                                                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      151813 | NS      | $21466358.20  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Griffon Corp.                                                               | Griffon Corp., 1st Lien Term Loan B                                                                    | CUSIP: 39843GAK9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      372510 | PA      | $373441.04    | 0.00%             | 2029-01-24      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Pakistan Water & Power Development Authority                                | Pakistan Water & Power Development Authority                                                           | CUSIP: N/A<br>LEI: 213800UA74QOTK6IES10       | Long             | DBT              | NUSS              | PK        |      634000 | PA      | $617040.50    | 0.01%             | 2031-06-04      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                             | BRAVO Residential Funding Trust, Series 2023-NQM5, Class B1                                            | CUSIP: 10569UAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1263000 | PA      | $1269626.20   | 0.01%             | 2063-06-25      | Variable      | 7.30%                 | Yes           |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers CLO 50 Ltd.                                  | Neuberger Berman Loan Advisers CLO Ltd., Series 2022-50A, Class BR                                     | CUSIP: 64134VAS5<br>LEI: 549300UMYON6L2REF246 | Long             | ABS-CBDO         | CORP              | JE        |     1200000 | PA      | $1201524.00   | 0.01%             | 2036-07-23      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                                           | Clarios Global LP                                                                                      | CUSIP: 18060TAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4091000 | PA      | $4185919.38   | 0.05%             | 2028-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2006-1F, Class 2A9                                                     | CUSIP: 3623417H6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      757554 | PA      | $305512.01    | 0.00%             | 2036-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280EJ4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |     2380000 | PA      | $2505996.22   | 0.03%             | 2034-03-11      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Citi Asset Receivables Trust I                                              | Citi Asset Receivables Trust I, Series 2026-1, Class CERT                                              | CUSIP: 17302LAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      284000 | PA      | $295004.57    | 0.00%             | 2032-02-20      | Fixed         | 25.47%                | Yes           |                  3 | On Loan: No      |
| Democratic Socialist Republic of Sri Lanka                                  | Democratic Socialist Republic of Sri Lanka                                                             | CUSIP: N/A<br>LEI: 254900IG6Y30I2QE2R92       | Long             | DBT              | NUSS              | LK        |     2100000 | PA      | $1715227.50   | 0.02%             | 2035-06-15      | Variable      | 3.60%                 | Yes           |                  2 | On Loan: No      |
| Toyota Credit de Puerto Rico Corp.                                          | Toyota Credit de Puerto Rico Corp.                                                                     | CUSIP: 8923A1F89<br>LEI: 549300C3PZBB11ZOEC65 | Long             | STIV             | CORP              | PR        |      129000 | PA      | $127218.48    | 0.00%             | 2026-06-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |      691000 | PA      | $503853.78    | 0.01%             | 2029-01-31      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2005-A8, Class 1A1                                                     | CUSIP: 466247YH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       55189 | PA      | $42809.65     | 0.00%             | 2035-11-25      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                                | Hess Midstream Operations LP                                                                           | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      772000 | PA      | $786647.16    | 0.01%             | 2028-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                                | Performance Food Group, Inc.                                                                           | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     7327000 | PA      | $7174248.17   | 0.08%             | 2029-08-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Xerox Holdings Corp.                                                        | Xerox Holdings Corp.                                                                                   | CUSIP: 98421MAC0<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |     2419000 | PA      | $887926.36    | 0.01%             | 2029-11-30      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: —       |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |      900000 | PA      | $904500.00    | 0.01%             | 2033-09-30      | Fixed         | 7.30%                 | Yes           |                  2 | On Loan: No      |
| Idemitsu Kosan Co. Ltd.                                                     | Idemitsu Kosan Co. Ltd.                                                                                | CUSIP: N/A<br>LEI: 549300P0R46FF6DUA630       | Long             | EC               | CORP              | JP        |      240100 | NS      | $2037312.74   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                        | Frontier Communications Holdings LLC                                                                   | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2033000 | PA      | $2096408.03   | 0.02%             | 2030-05-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| CME Group, Inc.                                                             | CME Group, Inc.                                                                                        | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       63229 | NS      | $18276974.74  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Centex Home Equity Loan Trust                                               | Centex Home Equity Loan Trust, Series 2004-D, Class MF2                                                | CUSIP: 152314LN8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      192589 | PA      | $192533.46    | 0.00%             | 2034-09-25      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| Haier Smart Home Co. Ltd.                                                   | Haier Smart Home Co. Ltd., Class H                                                                     | CUSIP: N/A<br>LEI: 3003002BYTNGNJTWSH07       | Long             | EC               | CORP              | CN        |     1675400 | NS      | $5523323.99   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-20CB, Class 1A1                                                    | CUSIP: 12667GPT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       73705 | PA      | $58026.57     | 0.00%             | 2035-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HX1<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     2649500 | PA      | $2338183.75   | 0.03%             | 2029-07-09      | Fixed         | 1.00%                 | No            |                  2 | On Loan: —       |
| Evonik Industries AG                                                        | Evonik Industries AG                                                                                   | CUSIP: N/A<br>LEI: 41GUOJQTALQHLF39XJ34       | Long             | EC               | CORP              | DE        |       17743 | NS      | $274837.76    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Quanta Computer, Inc.                                                       | Quanta Computer, Inc.                                                                                  | CUSIP: N/A<br>LEI: 529900DE8BIV3XOXIK04       | Long             | EC               | CORP              | TW        |      880018 | NS      | $7746950.19   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| APi Group DE, Inc.                                                          | APi Group DE, Inc.                                                                                     | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |     2037000 | PA      | $1997172.98   | 0.02%             | 2029-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AJ8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |      350000 | PA      | $263847.50    | 0.00%             | 2045-05-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COLEM Mortgage Trust                                                        | COLEM Mortgage Trust, Series 2022-HLNE, Class A                                                        | CUSIP: 12659JAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2500000 | PA      | $2393885.00   | 0.03%             | 2042-04-12      | Variable      | 2.46%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                                                  | Sensata Technologies, Inc.                                                                             | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |     1050000 | PA      | $1096874.10   | 0.01%             | 2032-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: —       |
| Valero Energy Corp.                                                         | Valero Energy Corp.                                                                                    | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |       24194 | NS      | $4389517.42   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Citicorp Mortgage Securities Trust                                          | Citicorp Mortgage Securities Trust, Series 2007-4, Class 1A9                                           | CUSIP: 17312XAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      289696 | PA      | $254065.57    | 0.00%             | 2037-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2023-4, Class A1                                                    | CUSIP: 92539TAA1<br>LEI: 2138008DC17PCNG48R87 | Long             | ABS-MBS          | CORP              | US        |      225050 | PA      | $225250.35    | 0.00%             | 2068-05-25      | Variable      | 5.81%                 | Yes           |                  2 | On Loan: No      |
| NCR Voyix Corp.                                                             | NCR Voyix Corp.                                                                                        | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |      110000 | PA      | $108578.33    | 0.00%             | 2028-10-01      | Fixed         | 5.00%                 | 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        |     3185689 | PA      | $3052941.27   | 0.04%             | 2027-10-01      | Variable      | 8.82%                 | No            |                  2 | On Loan: No      |
| Kioxia Holdings Corp.                                                       | Kioxia Holdings Corp.                                                                                  | CUSIP: 49726JAA6<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |     4322000 | PA      | $4464894.22   | 0.05%             | 2030-07-24      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Multifamily Connecticut Avenue Securities Trust                             | Multi-Family Connecticut Avenue Securities Trust, Series 2025-01, Class M2                             | CUSIP: 62549CAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2510000 | PA      | $2504297.78   | 0.03%             | 2055-05-25      | Floating      | 6.80%                 | Yes           |                  2 | On Loan: No      |
| Trinidad Generation UnLtd                                                   | Trinidad Generation UnLtd                                                                              | CUSIP: 89636DAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | TT        |      836000 | PA      | $878218.00    | 0.01%             | 2033-06-16      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Gnr  jan35                                                                  | Gnr  jan35                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | US        |     2100000 | PA      | $2086054.70   | 0.02%             | 2035-01-26      | Fixed         | 4.50%                 | 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        |      730964 | PA      | $731651.57    | 0.01%             | 2029-12-13      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| NRM FHT1 Excess Owner LLC                                                   | NRM FHT1 Excess Owner LLC, Series 2025-FHT1, Class A                                                   | CUSIP: 64832EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      765595 | PA      | $775654.17    | 0.01%             | 2032-03-25      | Variable      | 6.55%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                                                  | Garda World Security Corp., 1st Lien Term Loan                                                         | CUSIP: C4000KAG9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | LON              | CORP              | CA        |      908547 | PA      | $906275.19    | 0.01%             | 2029-02-01      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                                         | Hilcorp Energy I LP                                                                                    | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1415000 | PA      | $1357117.02   | 0.02%             | 2032-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Canadian Natural Resources Ltd.                                             | Canadian Natural Resources Ltd.                                                                        | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |      121478 | NS      | $4516895.78   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397B93<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |      880000 | PA      | $833968.95    | 0.01%             | 2029-02-10      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                    | Angel Oak Mortgage Trust, Series 2019-6, Class B3                                                      | CUSIP: 03464VAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1284815 | PA      | $1168762.80   | 0.01%             | 2059-11-25      | Variable      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                             | Permian Resources Operating LLC                                                                        | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     1908000 | PA      | $1965528.11   | 0.02%             | 2033-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Microchip Technology, Inc.                                                  | Microchip Technology, Inc.                                                                             | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |       10157 | NS      | $771119.44    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp.                                                              | Amphenol Corp., Class A                                                                                | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |       68524 | NS      | $9872937.92   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205BE3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      600000 | PA      | $592200.00    | 0.01%             | 2052-04-20      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-AR7, Class 6A1                                                    | CUSIP: 362341XG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      298002 | PA      | $260001.21    | 0.00%             | 2035-11-25      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US, Inc.                                                      | Neptune Bidco US, Inc.                                                                                 | CUSIP: 640695AD4<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     1859000 | PA      | $1892956.75   | 0.02%             | 2033-02-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| BAWAG Group AG                                                              | BAWAG Group AG                                                                                         | CUSIP: N/A<br>LEI: 529900S9YO2JHTIIDG38       | Long             | EC               | CORP              | AT        |        9429 | NS      | $1533871.68   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205AV6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      700000 | PA      | $531902.00    | 0.01%             | 2046-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                   | Vistra Operations Co. LLC                                                                              | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     7615000 | PA      | $7620429.50   | 0.09%             | 2027-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Insight Enterprises, Inc.                                                   | Insight Enterprises, Inc.                                                                              | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |      897000 | PA      | $918255.31    | 0.01%             | 2032-05-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                          | Crown Castle, Inc.                                                                                     | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |       55000 | PA      | $54613.86     | 0.00%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| JH North America Holdings, Inc.                                             | JH North America Holdings, Inc.                                                                        | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     1581000 | PA      | $1610901.45   | 0.02%             | 2032-07-31      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Tourmaline Oil Corp.                                                        | Tourmaline Oil Corp.                                                                                   | CUSIP: 89156V106<br>LEI: 894500I7AXG91VB3PM28 | Long             | EC               | CORP              | CA        |       89171 | NS      | $4220011.93   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AP6<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     1194000 | PA      | $1221620.80   | 0.01%             | 2029-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Warner Music Group Corp.                                                    | Warner Music Group Corp., Class A                                                                      | CUSIP: 934550203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      168330 | NS      | $5046533.40   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG                               | Muenchener Rueckversicherungs-Gesellschaft AG (Registered)                                             | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |       38579 | NS      | $23381829.08  | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Karman Holdings, Inc.                                                       | Karman Holdings, Inc., 1st Lien Term Loan                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      465882 | PA      | $468794.12    | 0.01%             | 2032-04-01      | Variable      | 7.18%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, Other                                                                                            | CUSIP: 3140NX4X8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     1168466 | PA      | $1206957.61   | 0.01%             | 2035-04-01      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                               | Asbury Automotive Group, Inc.                                                                          | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     4259000 | PA      | $4194179.72   | 0.05%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                    | Celanese US Holdings LLC                                                                               | CUSIP: 15089QBD5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     6664000 | PA      | $6781166.45   | 0.08%             | 2034-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), Escrow                                                                              | CUSIP: 428ESCAC1<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     5505000 | PA      | $550.50       | 0.00%             | 2026-08-01      | Fixed         | 7.12%                 | No            |                  3 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), 1st Lien Term Loan C                                                                | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |      528503 | PA      | $449227.61    | 0.01%             | 2028-06-30      | Variable      | 7.29%                 | No            |                  2 | On Loan: No      |
| Ascent Resources Utica Holdings LLC                                         | Ascent Resources Utica Holdings LLC                                                                    | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1067000 | PA      | $1074235.33   | 0.01%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Carlyle Global Market Strategies CLO Ltd.                                   | Carlyle Global Market Strategies CLO Ltd., Series 2015-4A, Class BR3                                   | CUSIP: 14311NBJ2<br>LEI: 549300Q4PPEXLDSOKL32 | Long             | ABS-CBDO         | CORP              | KY        |     1400000 | PA      | $1400310.80   | 0.02%             | 2032-07-20      | Floating      | 5.12%                 | Yes           |                  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        |      353853 | PA      | $353537.85    | 0.00%             | 2032-01-27      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Creative Artists Agency LLC                                                 | Creative Artists Agency LLC, 1st Lien Term Loan                                                        | CUSIP: 22526WAU2<br>LEI: 5493008FV5TCFL3KHH96 | Long             | LON              | CORP              | US        |      640060 | PA      | $638639.20    | 0.01%             | 2031-10-01      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |     1620000 | PA      | $1636200.00   | 0.02%             | 2033-09-28      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Baxter International, Inc.                                                  | Baxter International, Inc.                                                                             | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |      173221 | NS      | $3476545.47   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                          | Morgan Stanley Mortgage Loan Trust, Series 2006-2, Class 1A                                            | CUSIP: 61748HVE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      190932 | PA      | $173829.12    | 0.00%             | 2021-02-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                                            | IndyMac INDX Mortgage Loan Trust, Series 2007-AR21, Class 6A1                                          | CUSIP: 45670BAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3688689 | PA      | $2257658.14   | 0.03%             | 2037-09-25      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2006-2, Class 2A20                                               | CUSIP: 05949QBB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      128416 | PA      | $113703.38    | 0.00%             | 2036-03-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Uzbekneftegaz JSC                                                           | Uzbekneftegaz JSC                                                                                      | CUSIP: 91825MAB9<br>LEI: 213800LUZJZFLJD4MJ51 | Long             | DBT              | NUSS              | UZ        |     1350000 | PA      | $1311444.00   | 0.02%             | 2028-11-16      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander SA                                                          | Banco Santander SA                                                                                     | CUSIP: 05964HBG9<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |     1200000 | PA      | $1257422.33   | 0.01%             | 2031-07-15      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 20.10%, 02/27/2026                                                           | CUSIP: 83371Q877<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |      177300 | PA      | $3941727.44   | 0.05%             | 2026-02-27      | Fixed         | 20.10%                | No            |                  2 | On Loan: No      |
| Rio Tinto Ltd.                                                              | Rio Tinto Ltd.                                                                                         | CUSIP: N/A<br>LEI: 529900X2VMAQT2PE0V24       | Long             | EC               | CORP              | AU        |      108820 | NS      | $11337390.19  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205BG8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     2514000 | PA      | $2635463.91   | 0.03%             | 2054-11-19      | Fixed         | 7.95%                 | Yes           |                  2 | On Loan: No      |
| Structured Asset Securities Corp. Pass-Through Certificates                 | Structured Asset Securities Corp. Pass-Through Certificates, Series 2002-AL1, Class A3                 | CUSIP: 86358RXZ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |           3 | PA      | $0.43         | 0.00%             | 2032-02-25      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Trust                                                | Chase Mortgage Finance Trust, Series 2006-S4, Class A5                                                 | CUSIP: 16162YAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      812357 | PA      | $312049.57    | 0.00%             | 2036-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Telenor ASA                                                                 | Telenor ASA                                                                                            | CUSIP: N/A<br>LEI: 549300IM1QSBY4SLPM26       | Long             | EC               | CORP              | NO        |      336632 | NS      | $5662674.21   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Bank USA                                                      | Goldman Sachs Bank USA                                                                                 | CUSIP: 38151LAE0<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |      320000 | PA      | $320208.45    | 0.00%             | 2027-03-18      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     5758000 | PA      | $5526321.69   | 0.06%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Federation des Caisses Desjardins du Quebec                                 | Federation des Caisses Desjardins du Quebec                                                            | CUSIP: 31429KAL7<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |     1252000 | PA      | $1291721.06   | 0.01%             | 2029-04-26      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| NiSource, Inc.                                                              | NiSource, Inc.                                                                                         | CUSIP: 65473PAR6<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     3014000 | PA      | $3139087.03   | 0.04%             | 2054-11-30      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                    | Venture Global LNG, Inc.                                                                               | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     6438000 | PA      | $6806871.65   | 0.08%             | 2032-02-01      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: —       |
| BAT Capital Corp.                                                           | BAT Capital Corp.                                                                                      | CUSIP: 05526DBY0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |      835000 | PA      | $886270.48    | 0.01%             | 2031-02-20      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Umicore SA                                                                  | Umicore SA                                                                                             | CUSIP: N/A<br>LEI: 529900F3AIQECS8ZSV61       | Long             | EC               | CORP              | BE        |       82810 | NS      | $1968584.50   | 0.02%             |  |  |  | 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        |      308656 | PA      | $308992.28    | 0.00%             | 2031-03-27      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc., 1st Lien Term Loan B-2                                                       | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |      115593 | PA      | $115217.54    | 0.00%             | 2030-04-15      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                                 | Crescent Energy Finance LLC                                                                            | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     2004000 | PA      | $2022967.86   | 0.02%             | 2034-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                      | Santander Drive Auto Receivables Trust, Series 2024-4, Class D                                         | CUSIP: 802919AF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      574000 | PA      | $582834.38    | 0.01%             | 2031-12-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                  | Allison Transmission, Inc.                                                                             | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |     8169000 | PA      | $8271732.94   | 0.10%             | 2029-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Shift4 Payments LLC                                                         | Shift4 Payments LLC, 1st Lien Term Loan                                                                | CUSIP: 82453JAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      374062 | PA      | $375932.81    | 0.00%             | 2032-07-06      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Unilever plc                                                                | Unilever plc                                                                                           | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |        8617 | NS      | $586209.58    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Group 1 Automotive, Inc.                                                    | Group 1 Automotive, Inc.                                                                               | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |     1127000 | PA      | $1156889.17   | 0.01%             | 2030-01-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Penske Truck Leasing Co. LP                                                 | Penske Truck Leasing Co. LP                                                                            | CUSIP: 70962BBL7<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |      250000 | PA      | $249423.33    | 0.00%             | 2026-02-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                                | Tallgrass Energy Partners LP                                                                           | CUSIP: 87470LAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2420000 | PA      | $2462860.62   | 0.03%             | 2034-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Proofpoint, Inc.                                                            | Proofpoint, Inc., 1st Lien Term Loan                                                                   | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |      647330 | PA      | $642073.58    | 0.01%             | 2028-08-31      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Block, Inc.                                                                 | Block, Inc.                                                                                            | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     5261000 | PA      | $5465934.47   | 0.06%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Republic of Ecuador                                                         | Republic of Ecuador                                                                                    | CUSIP: N/A<br>LEI: 5299003Y2U5XK0A35H71       | Long             | DBT              | NUSS              | EC        |     2665880 | PA      | $2439280.20   | 0.03%             | 2035-07-31      | Variable      | 6.90%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                                  | Builders FirstSource, Inc.                                                                             | CUSIP: 12008RAN7<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     1105000 | PA      | $1100971.83   | 0.01%             | 2030-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Vodacom Group Ltd.                                                          | Vodacom Group Ltd.                                                                                     | CUSIP: N/A<br>LEI: 37890012A8DC24B8D663       | Long             | EC               | CORP              | ZA        |      192753 | NS      | $1796542.08   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                         | NASDAQ 100 E-Mini Index                                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         381 | NC      | $-2067191.15  | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Oak Street Investment Grade Net Lease Fund                                  | Oak Street Investment Grade Net Lease Fund, Series 2021-1A, Class B1                                   | CUSIP: 67190AAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1250000 | PA      | $668574.38    | 0.01%             | 2051-01-20      | Fixed         | 4.23%                 | Yes           |                  2 | On Loan: No      |
| Legacy Mortgage Asset Trust                                                 | Legacy Mortgage Asset Trust, Series 2021-GS3, Class A2                                                 | CUSIP: 52474XAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3126054 | PA      | $3128937.97   | 0.04%             | 2061-07-25      | Variable      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    10417000 | PA      | $6669973.85   | 0.08%             | 2029-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYJ7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      464000 | PA      | $414935.46    | 0.00%             | 2032-07-21      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| Wrangler Holdco Corp.                                                       | Wrangler Holdco Corp.                                                                                  | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2123000 | PA      | $2209142.85   | 0.03%             | 2032-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-6CB, Class 1A4                                                     | CUSIP: 12667F5F8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1600568 | PA      | $1357520.71   | 0.02%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: 25714PEF1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     1090000 | PA      | $1044220.00   | 0.01%             | 2032-09-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Alumina Pty. Ltd.                                                           | Alumina Pty. Ltd.                                                                                      | CUSIP: 02220AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |     1414000 | PA      | $1469939.25   | 0.02%             | 2032-09-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                        | LHOME Mortgage Trust, Series 2024-RTL5, Class A1                                                       | CUSIP: 50205WAA5<br>LEI: 529900ZQNJ23BIJVY871 | Long             | ABS-MBS          | CORP              | US        |      480000 | PA      | $481755.74    | 0.01%             | 2039-09-25      | Variable      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                                           | Venture Global Calcasieu Pass LLC                                                                      | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      495000 | PA      | $429533.68    | 0.00%             | 2033-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Saudi National Bank (The)                                                   | Saudi National Bank (The)                                                                              | CUSIP: N/A<br>LEI: 5586006ZEFQ542K7CY16       | Long             | EC               | CORP              | SA        |      545367 | NS      | $6522826.04   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co.                                                    | Central Garden & Pet Co.                                                                               | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |     3404000 | PA      | $3268288.92   | 0.04%             | 2030-10-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                          | General Motors Financial Co., Inc.                                                                     | CUSIP: 37045XDV5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |      490000 | PA      | $490603.50    | 0.01%             | 2029-04-06      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |     6320000 | PA      | $6308560.80   | 0.07%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| National Bank of Greece SA                                                  | National Bank of Greece SA                                                                             | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               | CORP              | GR        |      486979 | NS      | $8597344.05   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Vale SA                                                                     | Vale SA                                                                                                | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               | CORP              | BR        |      400309 | NS      | $6398554.57   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-23CB, Class A15                                                    | CUSIP: 12667GMY6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      804917 | PA      | $648565.69    | 0.01%             | 2035-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | Clarios Global LP, 1st Lien Term Loan                                                                  | CUSIP: C8000CAM5<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |      424636 | PA      | $423841.68    | 0.00%             | 2030-05-06      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Republic of Ghana                                                           | Republic of Ghana                                                                                      | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     1450000 | PA      | $1319500.00   | 0.02%             | 2035-07-03      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-1F, Class 2A3                                                     | CUSIP: 36242DVF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      120880 | PA      | $83953.34     | 0.00%             | 2035-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2020-R02, Class 2B1                                        | CUSIP: 20754WAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     7158000 | PA      | $7273993.24   | 0.08%             | 2040-01-25      | Floating      | 6.81%                 | Yes           |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities Trust                                  | Bear Stearns Asset-Backed Securities Trust, Series 2004-SD4, Class A1                                  | CUSIP: 073879MC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      443215 | PA      | $443222.52    | 0.01%             | 2044-08-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Hologic, Inc.                                                               | Hologic, Inc.                                                                                          | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |     4372000 | PA      | $4356028.65   | 0.05%             | 2029-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                  | Allison Transmission, Inc.                                                                             | CUSIP: 019736AG2<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |     1250000 | PA      | $1178289.60   | 0.01%             | 2031-01-30      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 5516, Class BZ                                                                    | CUSIP: 3137HKAZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     2313494 | PA      | $2314535.31   | 0.03%             | 2055-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Republic of Iraq                                                            | Republic of Iraq                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | IQ        |     1243750 | PA      | $1238700.38   | 0.01%             | 2028-01-15      | Fixed         | 5.80%                 | Yes           |                  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        |     3709613 | PA      | $3645845.05   | 0.04%             | 2031-02-03      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Banco Santander Chile                                                       | Banco Santander Chile                                                                                  | CUSIP: 05965X109<br>LEI: 3YJP8HORPAEXJ80D6368 | Long             | EC               | CORP              | CL        |       36851 | NS      | $1297892.22   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                                             | Palmer Square Loan Funding Ltd., Series 2024-3A, Class B                                               | CUSIP: 69690EAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2300000 | PA      | $2302817.50   | 0.03%             | 2032-08-08      | Floating      | 5.76%                 | Yes           |                  2 | On Loan: No      |
| Ubiquiti, Inc.                                                              | Ubiquiti, Inc.                                                                                         | CUSIP: 90353W103<br>LEI: 5299007MITA4DMQCU747 | Long             | EC               | CORP              | US        |        4586 | NS      | $2528812.12   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GCI LLC                                                                     | GCI LLC                                                                                                | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |     8852000 | PA      | $8669146.89   | 0.10%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| South African Rand                                                          | South African Rand                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | ZA        |         422 | OU      | $26.12        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     6975000 | PA      | $6969791.84   | 0.08%             | 2027-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                               | Asbury Automotive Group, Inc.                                                                          | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |      410000 | PA      | $403653.36    | 0.00%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Magna International, Inc.                                                   | Magna International, Inc.                                                                              | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |       87532 | NS      | $4474793.46   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2006-A, Class 1A1                                                | CUSIP: 058927AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      212782 | PA      | $203490.08    | 0.00%             | 2036-02-20      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-28CB, Class 6A1                                                    | CUSIP: 12667FYV1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      276925 | PA      | $258464.35    | 0.00%             | 2035-01-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Pembina Pipeline Corp.                                                      | Pembina Pipeline Corp.                                                                                 | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |      105181 | NS      | $4370536.47   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Paraguay                                                        | Republic of Paraguay                                                                                   | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |      350000 | PA      | $357700.00    | 0.00%             | 2044-08-11      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |      175000 | PA      | $174340.05    | 0.00%             | 2029-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                      | Tenet Healthcare Corp.                                                                                 | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     7416000 | PA      | $7418024.57   | 0.09%             | 2027-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| EQT Corp.                                                                   | EQT Corp.                                                                                              | CUSIP: 26884LBD0<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     5576000 | PA      | $5601168.50   | 0.06%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Terex Corp.                                                                 | Terex Corp., 1st Lien Term Loan                                                                        | CUSIP: 88078FBQ0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      670070 | PA      | $670626.47    | 0.01%             | 2031-10-08      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Ryanair Holdings plc                                                        | Ryanair Holdings plc                                                                                   | CUSIP: N/A<br>LEI: 635400BR2ROC1FVEBQ56       | Long             | EC               | CORP              | IE        |      334468 | NS      | $11351626.33  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280CT4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |     1201000 | PA      | $1099253.19   | 0.01%             | 2032-05-24      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |      127313 | NS      | $3754578.18   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                                         | Herc Holdings, Inc.                                                                                    | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     2158000 | PA      | $2233296.94   | 0.03%             | 2029-06-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2022-41                                                                                   | CUSIP: 38381EXL7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    12511185 | PA      | $643820.58    | 0.01%             | 2063-04-16      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios SA                              | ACS Actividades de Construccion y Servicios SA                                                         | CUSIP: N/A<br>LEI: 95980020140005558665       | Long             |  | CORP              | ES        |       18763 | NS      | $10319.69     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NN Group NV                                                                 | NN Group NV                                                                                            | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |       27139 | NS      | $2151233.93   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Commerzbank AG                                                              | Commerzbank AG                                                                                         | CUSIP: N/A<br>LEI: 851WYGNLUQLFZBSYGB56       | Long             | DBT              | CORP              | DE        |     1400000 | PA      | $1478780.80   | 0.02%             | 2030-10-09      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| RWE AG                                                                      | RWE AG                                                                                                 | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |       49680 | NS      | $3154874.30   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Yinson Bergenia Production BV                                               | Yinson Bergenia Production BV                                                                          | CUSIP: 98585VAA6<br>LEI: 549300JDIAWKPMZD5256 | Long             | DBT              | CORP              | NL        |     1356000 | PA      | $1449428.40   | 0.02%             | 2045-01-31      | Fixed         | 8.50%                 | Yes           |                  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        |      152384 | PA      | $152574.63    | 0.00%             | 2031-04-01      | Variable      | 7.41%                 | No            |                  2 | On Loan: No      |
| YPF Energia Electrica SA                                                    | YPF Energia Electrica SA                                                                               | CUSIP: 98424MAB9<br>LEI: 5493002XN8FRTYQLR778 | Long             | DBT              | CORP              | AR        |      400000 | PA      | $403750.00    | 0.00%             | 2032-10-16      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Mid-America Apartment Communities, Inc.                                     | Mid-America Apartment Communities, Inc.                                                                | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |         906 | NS      | $121675.80    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Securities Lending Money Market Fund                               | JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares                                  | CUSIP: 46645V642<br>LEI: 5493002FD4HXUJXMRO62 | Long             | STIV             | RF                | US        |   104973473 | NS      | $104973473.22 | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    12776040 | PA      | $9914207.04   | 0.11%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Hughes Satellite Systems Corp.                                              | Hughes Satellite Systems Corp.                                                                         | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3046000 | PA      | $2672136.40   | 0.03%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                               | Six Flags Entertainment Corp.                                                                          | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     8225000 | PA      | $8404658.68   | 0.10%             | 2032-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: —       |
| Yinson Boronia Production BV                                                | Yinson Boronia Production BV                                                                           | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |     1396970 | PA      | $1551418.96   | 0.02%             | 2042-07-31      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2018-KF50, Class B                                                        | CUSIP: 35709BAC9<br>LEI: 549300LI8XT0ZWPV2P54 | Long             | ABS-MBS          | USGSE             | US        |      292590 | PA      | $282464.91    | 0.00%             | 2028-07-25      | Floating      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2025-3, Class E                                   | CUSIP: 02528EAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1030000 | PA      | $1042665.91   | 0.01%             | 2033-06-13      | Fixed         | 6.77%                 | Yes           |                  2 | On Loan: No      |
| Big River Steel LLC                                                         | Big River Steel LLC                                                                                    | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3183000 | PA      | $3212538.24   | 0.04%             | 2029-01-31      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Lixil Corp.                                                                 | Lixil Corp.                                                                                            | CUSIP: N/A<br>LEI: 353800KB8G4F9WUJJ886       | Long             | EC               | CORP              | JP        |       41300 | NS      | $473782.34    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp.                                                            | Sony Group Corp.                                                                                       | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |      604300 | NS      | $13323551.47  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Freenet AG                                                                  | Freenet AG                                                                                             | CUSIP: N/A<br>LEI: 5299003GLDODCVP8DO20       | Long             | EC               | CORP              | DE        |       53975 | NS      | $1948993.66   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2025-21                                                                                   | CUSIP: 38381L5V0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    24982723 | PA      | $1757049.91   | 0.02%             | 2065-04-16      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                                    | Bristol-Myers Squibb Co.                                                                               | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      291283 | NS      | $16035129.15  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Trans Union LLC                                                             | Trans Union LLC, 1st Lien Term Loan B-9                                                                | CUSIP: 89334GBG8<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |      602309 | PA      | $602309.38    | 0.01%             | 2031-06-24      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-21CB, Class A4                                                     | CUSIP: 12667GKD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      354029 | PA      | $262719.60    | 0.00%             | 2035-06-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Allstate Corp. (The)                                                        | Allstate Corp. (The)                                                                                   | CUSIP: 020002AU5<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |     2669000 | PA      | $2805089.64   | 0.03%             | 2057-05-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                                                  | Alibaba Group Holding Ltd.                                                                             | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |      315733 | NS      | $6716773.37   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     4096800 | PA      | $3474086.40   | 0.04%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     6336000 | PA      | $6517304.64   | 0.08%             | 2031-03-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: —       |
| Sierra Pacific Power Co.                                                    | Sierra Pacific Power Co.                                                                               | CUSIP: 826418BR5<br>LEI: QB888G5GSVGE1LD1WV84 | Long             | DBT              | CORP              | US        |     1765000 | PA      | $1756283.19   | 0.02%             | 2055-12-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Zimmer Biomet Holdings, Inc.                                                | Zimmer Biomet Holdings, Inc.                                                                           | CUSIP: 98956PAV4<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |      720000 | PA      | $650398.16    | 0.01%             | 2031-11-24      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| LSF12 Crown US Commercial Bidco LLC                                         | LSF12 Crown US Commercial Bidco LLC, 1st Lien Term Loan                                                | CUSIP: 50221UAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     5072336 | PA      | $5073604.40   | 0.06%             | 2031-12-02      | Variable      | 7.20%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: 65412JAC7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |       90000 | PA      | $91237.50     | 0.00%             | 2027-11-28      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Primo Water Holdings, Inc.                                                  | Primo Water Holdings, Inc.                                                                             | CUSIP: 74168RAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2623000 | PA      | $2625184.96   | 0.03%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Mortgage-Backed Securities Trust                                | Wells Fargo Mortgage-Backed Securities Trust, Series 2007-15, Class A1                                 | CUSIP: 949797AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       51301 | PA      | $50289.20     | 0.00%             | 2037-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                         | MSCI Europe Equity Index                                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |          72 | NC      | $14525.90     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Varsity Brands, Inc.                                                        | Varsity Brands, Inc., 1st Lien Term Loan                                                               | CUSIP: 92227QAG1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     6182183 | PA      | $6176001.15   | 0.07%             | 2031-08-26      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 5623, Class ZB                                                                    | CUSIP: 3137HQ2A8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      520000 | PA      | $516750.00    | 0.01%             | 2056-02-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2017-BNK5, Class D                                                                        | CUSIP: 06541WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     8500000 | PA      | $7512272.80   | 0.09%             | 2060-06-15      | Variable      | 3.08%                 | Yes           |                  2 | On Loan: No      |
| M/I Homes, Inc.                                                             | M/I Homes, Inc.                                                                                        | CUSIP: 55305BAS0<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |      130000 | PA      | $129657.62    | 0.00%             | 2028-02-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-10, Class 11A1                             | CUSIP: 225470FQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      571963 | PA      | $67867.20     | 0.00%             | 2020-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Williams Scotsman, Inc.                                                     | Williams Scotsman, Inc.                                                                                | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     1061000 | PA      | $1096925.46   | 0.01%             | 2029-06-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                                    | WESCO Distribution, Inc.                                                                               | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     3107000 | PA      | $3246488.77   | 0.04%             | 2032-03-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Link REIT                                                                   | Link                                                                                                   | CUSIP: N/A<br>LEI: 529900XUE70U36QX5M62       | Long             | EC               | CORP              | HK        |       48700 | NS      | $223911.07    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2005-1, Class 2A2                                       | CUSIP: 59020UVJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       75256 | PA      | $69051.30     | 0.00%             | 2035-04-25      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: 254900EHU7Q8FGVPI369       | Long             | DBT              | NUSS              | DO        |      620000 | PA      | $551722.50    | 0.01%             | 2060-01-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc.                                     | Citigroup Global Markets Holdings, Inc., ELN, 18.00%, 02/06/2026                                       | CUSIP: N/A<br>LEI: 82VOJDD5PTRDMVVMGV31       | Long             | SN               | CORP              | US        |       27732 | PA      | $5038375.71   | 0.06%             | 2026-02-06      | Fixed         | 18.00%                | 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        |      249919 | PA      | $249879.14    | 0.00%             | 2029-08-16      | Variable      | 7.17%                 | No            |                  2 | On Loan: No      |
| Government of Mongolia                                                      | State of Mongolia                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | MN        |      800000 | PA      | $748000.00    | 0.01%             | 2031-07-07      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| BIFM CA Buyer, Inc.                                                         | BIFM CA Buyer, Inc., 1st Lien Term Loan                                                                | CUSIP: G0757GAH5<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |      251188 | PA      | $251501.74    | 0.00%             | 2028-05-31      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2016-C35, Class D                                        | CUSIP: 95000FAC0<br>LEI: 549300MZIB10PDVAE312 | Long             | ABS-MBS          | CORP              | US        |     5000000 | PA      | $4750242.00   | 0.05%             | 2048-07-15      | Fixed         | 3.14%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     1393000 | PA      | $1395721.92   | 0.02%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Braskem Netherlands Finance BV                                              | Braskem Netherlands Finance BV                                                                         | CUSIP: 10554TAJ4<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |      975000 | PA      | $394582.50    | 0.00%             | 2034-10-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: —       |
| Provincia de Cordoba                                                        | Provincia de Cordoba                                                                                   | CUSIP: 74408DAG9<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |     1991000 | PA      | $1955162.00   | 0.02%             | 2035-02-03      | Fixed         | 8.60%                 | Yes           |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                       | NextEra Energy Capital Holdings, Inc.                                                                  | CUSIP: 65339KBK5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     3683000 | PA      | $3723067.36   | 0.04%             | 2079-05-01      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                                         | GS Mortgage-Backed Securities Trust, Series 2025-PJ9, Class A1                                         | CUSIP: 36273FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5546579 | PA      | $5621546.62   | 0.07%             | 2056-03-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| AbbVie, Inc.                                                                | AbbVie, Inc.                                                                                           | CUSIP: 00287YCA5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |       37000 | PA      | $32931.92     | 0.00%             | 2039-11-21      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Utz Quality Foods LLC                                                       | Utz Quality Foods LLC, 1st Lien Term Loan B                                                            | CUSIP: 91809EAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      323894 | PA      | $322983.79    | 0.00%             | 2032-01-29      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                         | Post Holdings, Inc.                                                                                    | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     2667000 | PA      | $2738488.94   | 0.03%             | 2032-02-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                                                  | Sotera Health Holdings LLC                                                                             | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |     2502000 | PA      | $2632641.93   | 0.03%             | 2031-06-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-HYB2, Class 2A1B                                          | CUSIP: 126694D21<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      339954 | PA      | $312768.22    | 0.00%             | 2036-04-20      | Variable      | 4.52%                 | No            |                  2 | On Loan: No      |
| Aramark Services, Inc.                                                      | Aramark Services, Inc.                                                                                 | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |     5180000 | PA      | $5177156.70   | 0.06%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PetroChina Co. Ltd.                                                         | PetroChina Co. Ltd., Class H                                                                           | CUSIP: N/A<br>LEI: 529900RPY4YG47TRSV05       | Long             | EC               | CORP              | CN        |     6358198 | NS      | $7553282.49   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229AX4<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     1192000 | PA      | $1153241.17   | 0.01%             | 2036-04-01      | Fixed         | 7.37%                 | No            |                  2 | On Loan: No      |
| Banco Santander Chile                                                       | Banco Santander Chile                                                                                  | CUSIP: 05965X109<br>LEI: 3YJP8HORPAEXJ80D6368 | Long             | EC               | CORP              | CL        |       19195 | NS      | $676047.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AT8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |      686000 | PA      | $689309.26    | 0.01%             | 2034-03-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2020-94                                                                                   | CUSIP: 38380PNV2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     3658950 | PA      | $246785.55    | 0.00%             | 2062-03-16      | Variable      | 0.97%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                                             | Palmer Square Loan Funding Ltd., Series 2024-3A, Class A2                                              | CUSIP: 69690EAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2198742 | PA      | $2205113.95   | 0.03%             | 2032-08-08      | Floating      | 5.51%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    10347000 | PA      | $9312300.00   | 0.11%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| IRV Trust                                                                   | IRV Trust, Series 2025-200P, Class C                                                                   | CUSIP: 45006HAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1700000 | PA      | $1720331.83   | 0.02%             | 2047-03-14      | Variable      | 5.73%                 | Yes           |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                                                 | McGraw-Hill Education, Inc.                                                                            | CUSIP: 57767XAA8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |     2008000 | PA      | $2016899.46   | 0.02%             | 2028-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Inner Mongolia Yili Industrial Group Co. Ltd.                               | Inner Mongolia Yili Industrial Group Co. Ltd., Class A                                                 | CUSIP: N/A<br>LEI: 3003002Q2A863JPQFH06       | Long             | EC               | CORP              | CN        |     1113406 | NS      | $4214337.74   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Kenya                                                           | Republic of Kenya                                                                                      | CUSIP: 491798AM6<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     1646000 | PA      | $1819653.00   | 0.02%             | 2031-02-16      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Modena Buyer LLC                                                            | Modena Buyer LLC, 1st Lien Term Loan                                                                   | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |      311062 | PA      | $295767.56    | 0.00%             | 2031-07-01      | Variable      | 7.92%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 07.50%, 02/27/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       15072 | PA      | $7618771.66   | 0.09%             | 2026-02-27      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 13.50%, 02/27/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       10808 | PA      | $7791700.51   | 0.09%             | 2026-02-27      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: 65412JAC7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      380000 | PA      | $385225.00    | 0.00%             | 2027-11-28      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| First Horizon Alternative Mortgage Securities Trust                         | First Horizon Alternative Mortgage Securities Trust, Series 2006-FA6, Class 3A1                        | CUSIP: 32052FBD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        4453 | PA      | $0.04         | 0.00%             | 2021-11-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRET LLC                                                                    | PRET LLC, Series 2025-NPL3, Class A1                                                                   | CUSIP: 74143HAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      946465 | PA      | $950909.11    | 0.01%             | 2055-04-25      | Variable      | 6.71%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                             | TransDigm, Inc.                                                                                        | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      792000 | PA      | $818507.45    | 0.01%             | 2034-01-31      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: —       |
| OneMain Finance Corp.                                                       | OneMain Finance Corp.                                                                                  | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     3313000 | PA      | $3399929.81   | 0.04%             | 2028-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                                                   | OBX Trust, Series 2023-NQM3, Class A1                                                                  | CUSIP: 67117PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      249619 | PA      | $249492.66    | 0.00%             | 2063-02-25      | Variable      | 5.95%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    10065000 | PA      | $9781787.00   | 0.11%             | 2026-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Cummins, Inc.                                                               | Cummins, Inc.                                                                                          | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |        9163 | NS      | $5303727.66   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-17, Class A2                                              | CUSIP: 17025AAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      279531 | PA      | $121157.71    | 0.00%             | 2036-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2025-138, Class A                                                                         | CUSIP: 38381ME63<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      766290 | PA      | $761177.39    | 0.01%             | 2056-05-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                                     | RHP Hotel Properties LP                                                                                | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     5039000 | PA      | $5211086.89   | 0.06%             | 2032-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| National Bank of Canada                                                     | National Bank of Canada                                                                                | CUSIP: 63307A3D5<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |      250000 | PA      | $252227.54    | 0.00%             | 2028-02-01      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AL1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     3262000 | PA      | $2136610.00   | 0.02%             | 2031-02-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 13.50%, 02/13/2026                                                    | CUSIP: 61778U774<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |        7860 | PA      | $2744747.20   | 0.03%             | 2026-02-13      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| WULF Compute LLC                                                            | WULF Compute LLC                                                                                       | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     5123000 | PA      | $5343391.46   | 0.06%             | 2030-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Boyne USA, Inc.                                                             | Boyne USA, Inc.                                                                                        | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3600000 | PA      | $3552359.76   | 0.04%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| News Corp.                                                                  | News Corp.                                                                                             | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |     2490000 | PA      | $2486411.39   | 0.03%             | 2032-02-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: 25714PET1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     1330000 | PA      | $1425760.00   | 0.02%             | 2031-02-03      | Fixed         | 7.05%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                                               | Organon & Co.                                                                                          | CUSIP: 68622FAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      525000 | PA      | $493518.22    | 0.01%             | 2034-05-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| New Century Home Equity Loan Trust                                          | New Century Home Equity Loan Trust, Series 2004-2, Class M2                                            | CUSIP: 64352VGB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        5505 | PA      | $13020.62     | 0.00%             | 2034-08-25      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp.                                       | International Business Machines Corp.                                                                  | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |       15290 | NS      | $4689443.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Radiology Partners, Inc.                                                    | Radiology Partners, Inc.                                                                               | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |     4851000 | PA      | $5093405.05   | 0.06%             | 2032-07-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Mars, Inc.                                                                  | Mars, Inc.                                                                                             | CUSIP: 571676AX3<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |      430000 | PA      | $435750.15    | 0.01%             | 2028-03-01      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    35845000 | PA      | $34242764.35  | 0.40%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| TC Ziraat Bankasi A/S                                                       | TC Ziraat Bankasi A/S                                                                                  | CUSIP: 90014TAM3<br>LEI: 213800K5KTZFSUS8MR51 | Long             | DBT              | CORP              | TR        |     2095000 | PA      | $2171593.20   | 0.03%             | 2030-02-04      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN21, Class F                                                                        | CUSIP: 06540BAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $1149400.60   | 0.01%             | 2052-10-17      | Fixed         | 2.68%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 08.30%, 02/27/2026                                                           | CUSIP: 83371Q869<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |        7143 | PA      | $5932221.16   | 0.07%             | 2026-02-27      | Fixed         | 8.30%                 | No            |                  2 | On Loan: No      |
| Ayvens SA                                                                   | Ayvens SA                                                                                              | CUSIP: N/A<br>LEI: 969500E7V019H9NP7427       | Long             | EC               | CORP              | FR        |      128895 | NS      | $1868697.65   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2021-4, Class B2                                          | CUSIP: 24381JAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     6508000 | PA      | $5348979.22   | 0.06%             | 2066-11-25      | Variable      | 4.42%                 | Yes           |                  2 | On Loan: No      |
| Republic of Senegal                                                         | Republic of Senegal                                                                                    | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |     4750000 | PA      | $2863359.38   | 0.03%             | 2031-06-10      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Chase Funding Trust                                                         | Chase Funding Trust, Series 2003-4, Class 1A5                                                          | CUSIP: 161546FV3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      352463 | PA      | $348812.66    | 0.00%             | 2033-05-25      | Variable      | 4.89%                 | No            |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                                                        | IHO Verwaltungs GmbH                                                                                   | CUSIP: 44963BAG3<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |      722000 | PA      | $769449.84    | 0.01%             | 2032-11-15      | Fixed         | 8.00%                 | 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        |      258502 | PA      | $258341.60    | 0.00%             | 2031-06-12      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Comision Federal de Electricidad                                            | Comision Federal de Electricidad                                                                       | CUSIP: 200447AR1<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | NUSS              | MX        |      788000 | PA      | $791152.00    | 0.01%             | 2051-01-28      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| EUSHI Finance, Inc.                                                         | EUSHI Finance, Inc.                                                                                    | CUSIP: 29882DAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2815000 | PA      | $2826851.15   | 0.03%             | 2056-04-01      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2005-A6, Class 1A2                                                     | CUSIP: 466247TM5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       77099 | PA      | $73359.81     | 0.00%             | 2035-09-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Transportadora de Gas del Sur SA                                            | Transportadora de Gas del Sur SA                                                                       | CUSIP: N/A<br>LEI: 5299002TRC7IFQYSW596       | Long             | DBT              | CORP              | AR        |      365000 | PA      | $384180.75    | 0.00%             | 2031-07-24      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The)                                                                                      | CUSIP: 428040DB2<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     8062000 | PA      | $5311166.59   | 0.06%             | 2029-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| XPO, Inc.                                                                   | XPO, Inc.                                                                                              | CUSIP: 983793AK6<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |     1560000 | PA      | $1639948.44   | 0.02%             | 2032-02-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Series 2025-MN11, Class M2                                                                      | CUSIP: 35563YAB6<br>LEI: 529900E2V0BG2KXC9E18 | Long             | ABS-MBS          | USGSE             | US        |     3771831 | PA      | $3720503.55   | 0.04%             | 2045-07-25      | Floating      | 6.35%                 | Yes           |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                  | Constellation Brands, Inc., Class A                                                                    | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |       29344 | NS      | $4598204.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                                                                 | Phillips 66                                                                                            | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |       31062 | NS      | $4459260.72   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCL4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |      500000 | PA      | $396500.00    | 0.00%             | 2048-02-12      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                       | OneMain Finance Corp.                                                                                  | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |      350000 | PA      | $340376.19    | 0.00%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-WMC2, Class M2                                   | CUSIP: 61746RHT1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      130619 | PA      | $130863.78    | 0.00%             | 2034-07-25      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| WP Carey, Inc.                                                              | WP Carey, Inc.                                                                                         | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |       65476 | NS      | $4566951.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: 254900EHU7Q8FGVPI369       | Long             | DBT              | NUSS              | DO        |      800000 | PA      | $766400.00    | 0.01%             | 2032-09-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2019-B11, Class D                                                     | CUSIP: 08162BAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4000000 | PA      | $2188068.00   | 0.03%             | 2052-05-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BHP Group Ltd.                                                              | BHP Group Ltd.                                                                                         | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |       35634 | NS      | $1229716.44   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Telecom Italia Capital SA                                                   | Telecom Italia Capital SA                                                                              | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |      273000 | PA      | $279695.60    | 0.00%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SASCO Mortgage Loan Trust                                                   | SASCO Mortgage Loan Trust, Series 2004-GEL3, Class M1                                                  | CUSIP: 80382UAS2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      139449 | PA      | $140092.51    | 0.00%             | 2034-08-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                                              | Broadcom, Inc.                                                                                         | CUSIP: 11135FCR0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      915000 | PA      | $804019.90    | 0.01%             | 2033-02-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Japan Metropolitan Fund Invest                                              | Japan Metropolitan Fund Invest                                                                         | CUSIP: N/A<br>LEI: 353800QDHNIP60E1LQ93       | Long             | EC               | CORP              | JP        |        2765 | NS      | $2176282.41   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Danone SA                                                                   | Danone SA                                                                                              | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               | CORP              | FR        |       43557 | NS      | $3413124.30   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                                                                   | Sanofi SA                                                                                              | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |      149895 | NS      | $14138656.05  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      486000 | PA      | $442630.74    | 0.01%             | 2032-04-22      | Variable      | 2.62%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank NA                                                      | Morgan Stanley Bank NA                                                                                 | CUSIP: 61690U8A1<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |      455000 | PA      | $459060.67    | 0.01%             | 2028-01-14      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Multi-Family Connecticut Avenue Securities Trust                            | Multi-Family Connecticut Avenue Securities Trust, Series 2024-01, Class M10                            | CUSIP: 62548RAB5<br>LEI: 254900QY3MMJFMNKXA93 | Long             | ABS-MBS          | CORP              | US        |     5000000 | PA      | $5138034.50   | 0.06%             | 2054-07-25      | Floating      | 7.55%                 | Yes           |                  2 | On Loan: No      |
| Ukraine                                                                     | Ukraine Government Bond                                                                                | CUSIP: N/A<br>LEI: 6354001WLTJXOMEXPY07       | Long             | DBT              | NUSS              | UA        |     1945000 | PA      | $1509320.00   | 0.02%             | 2029-02-01      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                          | Venture Global Plaquemines LNG LLC                                                                     | CUSIP: 922966AF3<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     1338000 | PA      | $1385672.78   | 0.02%             | 2034-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 780082AY9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     4049000 | PA      | $4029851.47   | 0.05%             | 2085-11-24      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                                            | Paramount Global                                                                                       | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     1171000 | PA      | $1064146.25   | 0.01%             | 2057-02-28      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Elanco Animal Health, Inc.                                                  | Elanco Animal Health, Inc.                                                                             | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |     2240000 | PA      | $2334021.76   | 0.03%             | 2028-08-28      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-85CB, Class 3A2                                                    | CUSIP: 12668BEZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        8561 | PA      | $8014.24      | 0.00%             | 2021-02-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Next plc                                                                    | Next plc                                                                                               | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |       11791 | NS      | $2140761.54   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Planet Fitness Master Issuer LLC                                            | Planet Fitness Master Issuer LLC, Series 2025-1A, Class A2II                                           | CUSIP: 72703PAJ2<br>LEI: 549300NX9W3U2DO53T22 | Long             | ABS-O            | CORP              | US        |      515000 | PA      | $514267.05    | 0.01%             | 2055-12-06      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: 254900EHU7Q8FGVPI369       | Long             | DBT              | NUSS              | DO        |       93000 | PA      | $102486.00    | 0.00%             | 2044-04-30      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                             | Live Nation Entertainment, Inc.                                                                        | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    10261000 | PA      | $10307101.95  | 0.12%             | 2027-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| First Student Bidco, Inc.                                                   | First Student Bidco, Inc., 1st Lien Term Loan B                                                        | CUSIP: 33718FAN0<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |     5749233 | PA      | $5738481.69   | 0.07%             | 2030-08-15      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Fortescue Ltd.                                                              | Fortescue Ltd.                                                                                         | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |       33322 | NS      | $482531.51    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-KF33, Class B                                                        | CUSIP: 30303CAG9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      566071 | PA      | $548174.04    | 0.01%             | 2027-06-25      | Floating      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| Petco Health & Wellness Co., Inc.                                           | Petco Health & Wellness Co., Inc.                                                                      | CUSIP: 71601VAA3<br>LEI: 2549007TYGV6RVSE9M61 | Long             | DBT              | CORP              | US        |      817000 | PA      | $819139.65    | 0.01%             | 2031-02-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Bank NA                                                         | Wells Fargo Bank NA, ELN, 14.10%, 02/06/2026                                                           | CUSIP: 95005A805<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | SN               | CORP              | US        |        6739 | PA      | $3931875.04   | 0.05%             | 2026-02-06      | Fixed         | 14.10%                | No            |                  2 | On Loan: No      |
| GSK plc                                                                     | GSK plc                                                                                                | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |      347447 | NS      | $8985556.10   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Dycom Industries, Inc.                                                      | Dycom Industries, Inc.                                                                                 | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |     5847000 | PA      | $5755562.86   | 0.07%             | 2029-04-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                                        | Prime Security Services Borrower LLC                                                                   | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1886000 | PA      | $1847402.82   | 0.02%             | 2027-08-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2018-BN14, Class F                                                                        | CUSIP: 06035RBB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1534000 | PA      | $869343.26    | 0.01%             | 2060-09-15      | Fixed         | 3.94%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                      | Cleveland-Cliffs, Inc.                                                                                 | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     2479000 | PA      | $2576194.15   | 0.03%             | 2029-11-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                                         | Bank of New York Mellon Corp. (The)                                                                    | CUSIP: 064058AN0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     1362000 | PA      | $1408876.04   | 0.02%             | 2030-03-20      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA ACES, Series 2019-M11, Class X1                                                                   | CUSIP: 3136B4C71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     4068131 | PA      | $101093.05    | 0.00%             | 2029-06-25      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                          | Banco Bilbao Vizcaya Argentaria SA                                                                     | CUSIP: 05946KAQ4<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |      400000 | PA      | $414572.66    | 0.00%             | 2029-03-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2006-1F, Class 2A16                                                    | CUSIP: 362334AN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      467744 | PA      | $188635.23    | 0.00%             | 2036-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                                                  | Edgewell Personal Care Co.                                                                             | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |     2707000 | PA      | $2595120.23   | 0.03%             | 2029-04-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                             | Live Nation Entertainment, Inc.                                                                        | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     8509000 | PA      | $8506367.32   | 0.10%             | 2027-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Citi Asset Receivables Trust I                                              | Citi Asset Receivables Trust, Series 2025-7, Class CERT                                                | CUSIP: 17292DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      173166 | PA      | $174481.68    | 0.00%             | 2031-10-20      | Fixed         | 25.54%                | Yes           |                  3 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 08.50%, 02/13/2026                                                    | CUSIP: 61778U691<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |      203137 | PA      | $4102125.89   | 0.05%             | 2026-02-13      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| State Street Corp.                                                          | State Street Corp., Series I                                                                           | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     8012000 | PA      | $8310511.10   | 0.10%             | 2029-03-15      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-P3, Class CERT                                  | CUSIP: 52604XAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      125000 | PA      | $345372.44    | 0.00%             | 2037-05-15      | Fixed         | 11.88%                | Yes           |                  3 | On Loan: No      |
| Cinemark USA, Inc.                                                          | Cinemark USA, Inc.                                                                                     | CUSIP: 172441BH9<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |     1420000 | PA      | $1469310.92   | 0.02%             | 2032-08-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                                            | Clarivate Science Holdings Corp.                                                                       | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2416000 | PA      | $2280177.55   | 0.03%             | 2028-07-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems Dutch Holding B BV                                   | Axalta Coating Systems Dutch Holding B BV                                                              | CUSIP: 05455JAA5<br>LEI: 5493007DMEBZH3CQ5E51 | Long             | DBT              | CORP              | NL        |      832000 | PA      | $875642.56    | 0.01%             | 2031-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| British American Tobacco plc                                                | British American Tobacco plc                                                                           | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |       82414 | NS      | $4978926.57   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                             | Permian Resources Operating LLC                                                                        | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     2260000 | PA      | $2280550.18   | 0.03%             | 2027-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Asurion LLC and Asurion Co-Issuer, Inc.                                     | Asurion LLC and Asurion Co-Issuer, Inc.                                                                | CUSIP: 045941AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2657000 | PA      | $2776045.53   | 0.03%             | 2032-12-31      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GHV4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      464000 | PA      | $448821.19    | 0.01%             | 2030-07-23      | Variable      | 3.19%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                            | Bank of Montreal, Series f2f                                                                           | CUSIP: 06368L8K5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |      350000 | PA      | $351203.16    | 0.00%             | 2027-09-10      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets plc                                                      | BP Capital Markets plc                                                                                 | CUSIP: 05565QDW5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |     1918000 | PA      | $2035736.43   | 0.02%             | 2033-12-01      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                     | BNP Paribas Issuance BV, ELN, 05.30%, 02/27/2026                                                       | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |       46368 | PA      | $5547792.36   | 0.06%             | 2026-02-27      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Caixa Economica Federal                                                     | Caixa Economica Federal                                                                                | CUSIP: 12803Y2A6<br>LEI: 254900EX2KZ57WQ1PL07 | Long             | DBT              | NUSS              | BR        |     1570000 | PA      | $1592576.60   | 0.02%             | 2030-05-13      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                                 | Crescent Energy Finance LLC                                                                            | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     3238000 | PA      | $3133663.22   | 0.04%             | 2033-01-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2016-CR28, Class D                                                   | CUSIP: 12593YBN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1350000 | PA      | $1164375.00   | 0.01%             | 2049-02-10      | Variable      | 3.83%                 | No            |                  2 | On Loan: No      |
| Republic of Ghana                                                           | Republic of Ghana                                                                                      | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     1959852 | PA      | $1783465.32   | 0.02%             | 2035-07-03      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                         | Fifth Third Bancorp                                                                                    | CUSIP: 316773DL1<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |      398000 | PA      | $416995.30    | 0.00%             | 2032-01-29      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| Toyo Tire Corp.                                                             | Toyo Tire Corp.                                                                                        | CUSIP: N/A<br>LEI: 529900Y41RD7VQM9RF75       | Long             | EC               | CORP              | JP        |       28800 | NS      | $776152.05    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                                     | Quikrete Holdings, Inc.                                                                                | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     6679000 | PA      | $6926735.00   | 0.08%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967NN7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      913000 | PA      | $868709.66    | 0.01%             | 2033-03-17      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| Incora Top Holdco LLC                                                       | Incora Top Holdco LLC                                                                                  | CUSIP: 45338U101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1672 | NS      | $45244.32     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| FHLMC STACR REMIC Trust                                                     | FHLMC STACR REMIC Trust, Series 2021-HQA1, Class B2                                                    | CUSIP: 35564KCP2<br>LEI: 5493000ISMYB8CLVZD05 | Long             | ABS-MBS          | CORP              | US        |     3150000 | PA      | $3714984.00   | 0.04%             | 2033-08-25      | Floating      | 8.70%                 | Yes           |                  2 | On Loan: No      |
| Republic of El Salvador                                                     | Republic of El Salvador                                                                                | CUSIP: 283875CE0<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     1395000 | PA      | $1513575.00   | 0.02%             | 2030-04-17      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| FirstRand Ltd.                                                              | FirstRand Ltd.                                                                                         | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |      490346 | NS      | $2796862.96   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Equity Mortgage Loan Asset-Backed Trust                                | Home Equity Mortgage Loan Asset-Backed Trust, Series 2004-B, Class M2                                  | CUSIP: 456606FB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      111900 | PA      | $110597.37    | 0.00%             | 2034-11-25      | Floating      | 4.61%                 | 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        |     2515686 | PA      | $2515685.69   | 0.03%             | 2028-04-20      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Swedbank AB                                                                 | Swedbank AB, Class A                                                                                   | CUSIP: N/A<br>LEI: M312WZV08Y7LYUC71685       | Long             | EC               | CORP              | SE        |       54753 | NS      | $2128810.84   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series U                                                              | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     1830000 | PA      | $1813559.65   | 0.02%             | 2026-08-10      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Drax Group plc                                                              | Drax Group plc                                                                                         | CUSIP: N/A<br>LEI: 549300YPSNTXR4ZHSR98       | Long             | EC               | CORP              | GB        |      193065 | NS      | $2380266.24   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2005-2, Class 1A2                                                              | CUSIP: 45254NMZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      142449 | PA      | $141644.89    | 0.00%             | 2035-04-25      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                                  | Avis Budget Car Rental LLC                                                                             | CUSIP: 053773BE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3832000 | PA      | $3834439.83   | 0.04%             | 2027-07-15      | Fixed         | 5.75%                 | Yes           |                  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        |      522002 | PA      | $522889.58    | 0.01%             | 2030-04-30      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Petco Health & Wellness Co., Inc.                                           | Petco Health & Wellness Co., Inc., 1st Lien Term Loan B                                                | CUSIP: 71601HAG1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     3322488 | PA      | $3243579.32   | 0.04%             | 2031-01-22      | Variable      | 7.67%                 | 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        |     3923652 | PA      | $3893557.72   | 0.05%             | 2028-10-04      | Variable      | 7.68%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                                                 | ONEOK, Inc.                                                                                            | CUSIP: 682680CR2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |      695000 | PA      | $745557.73    | 0.01%             | 2030-09-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| AT&T, Inc.                                                                  | AT&T, Inc.                                                                                             | CUSIP: 00206RNC2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |      365000 | PA      | $359364.69    | 0.00%             | 2035-11-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                          | Crown Castle, Inc.                                                                                     | CUSIP: 22822VBF7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     1035000 | PA      | $1052664.21   | 0.01%             | 2029-09-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                                | Scotts Miracle-Gro Co. (The)                                                                           | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     2694000 | PA      | $2535936.55   | 0.03%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The)                                                                            | CUSIP: 89115A2E1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     1093000 | PA      | $1092349.03   | 0.01%             | 2032-06-08      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| Devon Energy Corp.                                                          | Devon Energy Corp.                                                                                     | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |       97937 | NS      | $3938046.77   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy, Inc.                                                        | NextEra Energy, Inc.                                                                                   | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      286529 | NS      | $25185899.10  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleos del Peru SA                                                       | Petroleos del Peru SA                                                                                  | CUSIP: 716564AA7<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | NUSS              | PE        |      900000 | PA      | $679612.50    | 0.01%             | 2032-06-19      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Petroleos del Peru SA                                                       | Petroleos del Peru SA                                                                                  | CUSIP: N/A<br>LEI: 549300ZMGDLC9JT2OR80       | Long             | DBT              | NUSS              | PE        |     2600000 | PA      | $1745562.00   | 0.02%             | 2047-06-19      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Kirin Holdings Co. Ltd.                                                     | Kirin Holdings Co. Ltd.                                                                                | CUSIP: 497350108<br>LEI: 353800GBVL72LLMTYM96 | Long             | EC               | CORP              | JP        |       83500 | NS      | $1298195.92   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                                           | Alliant Holdings Intermediate LLC, 1st Lien Term Loan                                                  | CUSIP: 01881UAN5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      639863 | PA      | $637661.76    | 0.01%             | 2031-09-19      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     1395000 | PA      | $1378860.13   | 0.02%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series GG                                                                             | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     1120000 | PA      | $1144142.99   | 0.01%             | 2030-08-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Chord Energy Corp.                                                          | Chord Energy Corp.                                                                                     | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |     2299000 | PA      | $2343826.59   | 0.03%             | 2030-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2109000 | PA      | $2129367.98   | 0.02%             | 2033-02-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| Lendmark Funding Trust                                                      | Lendmark Funding Trust, Series 2025-3A, Class C                                                        | CUSIP: 525951AC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      515000 | PA      | $514751.46    | 0.01%             | 2035-05-21      | Fixed         | 5.04%                 | Yes           |                  2 | On Loan: No      |
| Dornoch Debt Merger Sub, Inc.                                               | Dornoch Debt Merger Sub, Inc.                                                                          | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2736000 | PA      | $2436276.95   | 0.03%             | 2029-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: —       |
| Wells Fargo Bank NA                                                         | Wells Fargo Bank NA, ELN, 16.00%, 02/20/2026                                                           | CUSIP: 95005A862<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | SN               | CORP              | US        |       36804 | PA      | $8586884.92   | 0.10%             | 2026-02-20      | Fixed         | 16.00%                | No            |                  2 | On Loan: No      |
| Republic of Senegal                                                         | Republic of Senegal                                                                                    | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |     1200000 | PA      | $640500.00    | 0.01%             | 2048-03-13      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     2238000 | PA      | $2093550.30   | 0.02%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Kinetik Holdings LP                                                         | Kinetik Holdings LP                                                                                    | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     1150000 | PA      | $1184175.70   | 0.01%             | 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        |     6205000 | PA      | $6223435.06   | 0.07%             | 2029-10-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Sun Communities, Inc.                                                       | Sun Communities, Inc.                                                                                  | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |       32324 | NS      | $4119047.32   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ILFC E-Capital Trust II                                                     | ILFC E-Capital Trust II                                                                                | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | SN               | CORP              | US        |     3358000 | PA      | $2944596.62   | 0.03%             | 2065-12-21      | Floating      | 6.60%                 | Yes           |                  2 | On Loan: No      |
| Somnigroup International, Inc.                                              | Somnigroup International, Inc.                                                                         | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |     2845000 | PA      | $2654806.63   | 0.03%             | 2031-10-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ICITII                                                                      | ICITII                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |      878447 | PA      | $380631.04    | 0.00%             | 2033-01-31      | Fixed         | 6.00%                 | No            |                  3 | On Loan: No      |
| Dai-ichi Life Holdings, Inc.                                                | Dai-ichi Life Holdings, Inc.                                                                           | CUSIP: N/A<br>LEI: 549300ZUFXI7JXZVTZ25       | Long             | EC               | CORP              | JP        |      109400 | NS      | $962079.21    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: N/A<br>LEI: 529900LOP29R5WKHOD86       | Long             | DBT              | NUSS              | PK        |     1350000 | PA      | $1358775.00   | 0.02%             | 2031-04-08      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-12CB, Class 2A1                                                    | CUSIP: 12667FJP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       12736 | PA      | $12772.81     | 0.00%             | 2034-06-25      | Fixed         | 6.00%                 | No            |                  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        |      485944 | PA      | $458731.36    | 0.01%             | 2029-02-12      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                                            | Skandinaviska Enskilda Banken AB                                                                       | CUSIP: 830505BB8<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |     1218000 | PA      | $1259363.23   | 0.01%             | 2029-03-05      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| JB Hi-Fi Ltd.                                                               | JB Hi-Fi Ltd.                                                                                          | CUSIP: N/A<br>LEI: 529900TPC8H040Y3ZQ65       | Long             | EC               | CORP              | AU        |        2900 | NS      | $163387.54    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DISH Network Corp.                                                          | DISH Network Corp.                                                                                     | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    12420000 | PA      | $12854178.36  | 0.15%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-13, Class A4                                              | CUSIP: 17025JAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      206530 | PA      | $90785.09     | 0.00%             | 2037-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                     | Bath & Body Works, Inc.                                                                                | CUSIP: 501797AM6<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     2162000 | PA      | $2157043.40   | 0.02%             | 2036-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                      | Velocity Commercial Capital Loan Trust, Series 2018-2, Class M2                                        | CUSIP: 92259BAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100718 | PA      | $96481.03     | 0.00%             | 2048-10-26      | Variable      | 4.51%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 12.50%, 02/20/2026                                                    | CUSIP: 61780F138<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       64695 | PA      | $5170323.12   | 0.06%             | 2026-02-20      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| Sonic Healthcare Ltd.                                                       | Sonic Healthcare Ltd.                                                                                  | CUSIP: N/A<br>LEI: 549300NQQ5L2NONWR862       | Long             | EC               | CORP              | AU        |       97855 | NS      | $1564878.93   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group plc                                                           | NatWest Group plc                                                                                      | CUSIP: 639057AD0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |     4432000 | PA      | $4121006.12   | 0.05%             | 2031-06-28      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| Kweichow Moutai Co. Ltd.                                                    | Kweichow Moutai Co. Ltd., Class A                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       14900 | NS      | $2998505.12   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2005-QS17, Class A3                                                                 | CUSIP: 761118PS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      373460 | PA      | $325705.53    | 0.00%             | 2035-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                                          | Vodafone Group plc                                                                                     | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |     3480500 | NS      | $5125824.22   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| INEOS Finance plc                                                           | INEOS Finance plc                                                                                      | CUSIP: 44984WAH0<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |     1877000 | PA      | $1645285.66   | 0.02%             | 2028-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                         | New Residential Mortgage Loan Trust, Series 2019-NQM4, Class B1                                        | CUSIP: 64828EAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2500000 | PA      | $2244717.75   | 0.03%             | 2059-09-25      | Variable      | 3.74%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325DQ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      190000 | PA      | $140220.00    | 0.00%             | 2049-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYG3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      363000 | PA      | $357599.17    | 0.00%             | 2027-09-10      | Variable      | 1.54%                 | 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        |      608087 | PA      | $598478.89    | 0.01%             | 2031-06-02      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                                                           | Transcanada Trust, Series 16-A                                                                         | CUSIP: 89356BAB4<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |     2598000 | PA      | $2604170.25   | 0.03%             | 2076-08-15      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| GSAMP Trust                                                                 | GSAMP Trust, Series 2003-HE1, Class M1                                                                 | CUSIP: 36228FSU1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      394442 | PA      | $420288.43    | 0.00%             | 2033-06-20      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| MYT Holding LLC                                                             | MYT Holding LLC                                                                                        | CUSIP: 55406N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     1342068 | NS      | $335517.00    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Wells Fargo Bank NA                                                         | Wells Fargo Bank NA, ELN, 17.80%, 02/27/2026                                                           | CUSIP: 95005A854<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | SN               | CORP              | US        |      163044 | PA      | $7477962.91   | 0.09%             | 2026-02-27      | Fixed         | 17.80%                | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                | DaVita, Inc., 1st Lien Term Loan B-2                                                                   | CUSIP: 23918VBC7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | LON              | CORP              | US        |      608542 | PA      | $607866.80    | 0.01%             | 2031-05-09      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                        | American Tower Corp.                                                                                   | CUSIP: 03027XCL2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |      955000 | PA      | $978198.27    | 0.01%             | 2030-01-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                            | Goodyear Tire & Rubber Co. (The)                                                                       | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     5452000 | PA      | $5339318.12   | 0.06%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Chemours Co. (The)                                                          | Chemours Co. (The)                                                                                     | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     1510000 | PA      | $1513977.28   | 0.02%             | 2033-01-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: —       |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2006-4, Class 3CB4                                      | CUSIP: 05950AAR7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      304137 | PA      | $283037.26    | 0.00%             | 2046-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 11.20%, 02/27/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       58670 | PA      | $19763883.66  | 0.23%             | 2026-02-27      | Fixed         | 11.20%                | No            |                  2 | On Loan: No      |
| Entegris, Inc.                                                              | Entegris, Inc.                                                                                         | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     4756000 | PA      | $4752404.46   | 0.06%             | 2029-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2021-48, Class FT                                                                         | CUSIP: 38380RZA1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     1167490 | PA      | $1047338.57   | 0.01%             | 2062-12-16      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2020-2                                                                                    | CUSIP: 38380NW21<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     6097836 | PA      | $257890.89    | 0.00%             | 2062-03-16      | Variable      | 0.59%                 | No            |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                                    | WESCO Distribution, Inc.                                                                               | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     1155000 | PA      | $1202666.85   | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR22, Class E                                                   | CUSIP: 12592XAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2500000 | PA      | $1438250.00   | 0.02%             | 2048-03-10      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                                      | Mercedes-Benz Group AG                                                                                 | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |       66155 | NS      | $4521313.73   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series N                                                                        | CUSIP: 06051GJQ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      250000 | PA      | $249350.75    | 0.00%             | 2027-03-11      | Variable      | 1.66%                 | No            |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                                       | WR Grace Holdings LLC                                                                                  | CUSIP: 92943GAH4<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |      706000 | PA      | $706882.50    | 0.01%             | 2033-08-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Cheil Worldwide, Inc.                                                       | Cheil Worldwide, Inc.                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |        8846 | NS      | $134726.44    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     1016000 | PA      | $1005426.49   | 0.01%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-10, Class 1A16                                            | CUSIP: 1266942N7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      941327 | PA      | $350946.53    | 0.00%             | 2036-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                  | Prudential Financial, Inc.                                                                             | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |     3169000 | PA      | $3129936.69   | 0.04%             | 2052-03-01      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |      727000 | PA      | $680788.61    | 0.01%             | 2032-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967NE7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      464000 | PA      | $415482.31    | 0.00%             | 2032-11-03      | Variable      | 2.52%                 | No            |                  2 | On Loan: No      |
| NCR Voyix Corp.                                                             | NCR Voyix Corp.                                                                                        | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     5206000 | PA      | $5130606.34   | 0.06%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Treasury Wine Estates Ltd.                                                  | Treasury Wine Estates Ltd.                                                                             | CUSIP: N/A<br>LEI: 529900LVOPJGAX6ILK66       | Long             | EC               | CORP              | AU        |       69742 | NS      | $259885.65    | 0.00%             |  |  |  | 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        |      518570 | PA      | $489680.52    | 0.01%             | 2030-09-20      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Adecco Group AG                                                             | Adecco Group AG (Registered)                                                                           | CUSIP: N/A<br>LEI: NI14Y5UMU60O7JE9P611       | Long             | EC               | CORP              | CH        |       23618 | NS      | $694047.89    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 11.00%, 02/13/2026                                                    | CUSIP: 61778U725<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       38104 | PA      | $9099981.24   | 0.11%             | 2026-02-13      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Democratic Socialist Republic of Sri Lanka                                  | Democratic Socialist Republic of Sri Lanka                                                             | CUSIP: N/A<br>LEI: 254900IG6Y30I2QE2R92       | Long             | DBT              | NUSS              | LK        |     1365850 | PA      | $1253167.38   | 0.01%             | 2033-03-15      | Variable      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                                         | Constellation Energy Generation LLC                                                                    | CUSIP: 210385AJ9<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |     2242000 | PA      | $2273338.18   | 0.03%             | 2031-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 13.60%, 02/20/2026                                                    | CUSIP: 61780F179<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       11073 | PA      | $5545175.87   | 0.06%             | 2026-02-20      | Fixed         | 13.60%                | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series Q012, Class X                         | CUSIP: 3137FVNQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    17879278 | PA      | $2630272.40   | 0.03%             | 2035-09-25      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| CITI Asset Receivables Trust I                                              | CITI Asset Receivables Trust I, Series 2025-1, Class CERT                                              | CUSIP: 17302EAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      602454 | PA      | $597333.44    | 0.01%             | 2031-03-15      | Fixed         | 27.07%                | Yes           |                  3 | On Loan: No      |
| Yancoal Australia Ltd.                                                      | Yancoal Australia Ltd.                                                                                 | CUSIP: N/A<br>LEI: 3003003IC6G39HKQAD13       | Long             | EC               | CORP              | AU        |       78258 | NS      | $313255.81    | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: 05675M2D5<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |      481000 | PA      | $456050.53    | 0.01%             | 2032-09-16      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                    | U.S. Treasury Notes                                                                                    | CUSIP: 91282CLL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      515000 | PA      | $513692.38    | 0.01%             | 2027-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M2                                        | CUSIP: 20754GAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     7000000 | PA      | $7041580.00   | 0.08%             | 2044-02-25      | Floating      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                                         | Rocket Mortgage LLC                                                                                    | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2624000 | PA      | $2588310.45   | 0.03%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                               | Six Flags Entertainment Corp.                                                                          | CUSIP: 83003AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1159000 | PA      | $1182701.55   | 0.01%             | 2032-01-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565CE2<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |       10000 | PA      | $10061.20     | 0.00%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                                           | NatWest Group plc                                                                                      | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |     3952000 | PA      | $4466748.00   | 0.05%             | 2033-11-10      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-32CB, Class 2A5                                                    | CUSIP: 12667FP74<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      879926 | PA      | $872659.76    | 0.01%             | 2035-02-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Embarq LLC                                                                  | Embarq LLC                                                                                             | CUSIP: 29078EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3120000 | PA      | $1216800.00   | 0.01%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| Ardagh Group SA                                                             | Ardagh Group SA                                                                                        | CUSIP: 03969UAA4<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |     3785000 | PA      | $3576825.00   | 0.04%             | 2030-12-01      | Variable      | 12.00%                | Yes           |                  2 | On Loan: —       |
| Svenska Handelsbanken AB                                                    | Svenska Handelsbanken AB, Class A                                                                      | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | EC               | CORP              | SE        |      135009 | NS      | $2128425.21   | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| GNMA                                                                        | GNMA, Series 2025-206                                                                                  | CUSIP: 38383JCS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    11913415 | PA      | $722548.63    | 0.01%             | 2064-04-16      | Variable      | 0.80%                 | No            |                  2 | On Loan: No      |
| Digital Realty Trust, Inc.                                                  | Digital Realty Trust, Inc.                                                                             | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |       19159 | NS      | $3179436.05   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-R3, Class B1                                                   | CUSIP: 92538EAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2500000 | PA      | $2151153.00   | 0.02%             | 2064-04-25      | Variable      | 3.07%                 | Yes           |                  2 | On Loan: No      |
| Navoiyuran State Enterprise                                                 | Navoiyuran State Enterprise                                                                            | CUSIP: 85679AAA6<br>LEI: 254900ACNT2MA4KNLL55 | Long             | DBT              | NUSS              | UZ        |     1400000 | PA      | $1428000.00   | 0.02%             | 2030-07-02      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Primo Brands Corp.                                                          | Primo Brands Corp., 1st Lien Term Loan                                                                 | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |     2485056 | PA      | $2483093.01   | 0.03%             | 2028-03-31      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Edison International                                                        | Edison International                                                                                   | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |       73710 | NS      | $4590658.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chase Funding Trust                                                         | Chase Funding Trust, Series 2003-5, Class 1M2                                                          | CUSIP: 161546GN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       98226 | PA      | $90491.96     | 0.00%             | 2032-09-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2018-C43, Class D                                        | CUSIP: 95001LAC6<br>LEI: 549300RVQJTKIK3XGD11 | Long             | ABS-MBS          | CORP              | US        |     1250000 | PA      | $1047762.50   | 0.01%             | 2051-03-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Global Payments, Inc.                                                       | Global Payments, Inc.                                                                                  | CUSIP: 37940XAB8<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |       18000 | PA      | $17206.96     | 0.00%             | 2029-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Man Group plc                                                               | Man Group plc                                                                                          | CUSIP: N/A<br>LEI: 2549003YWC1DW6LALB09       | Long             | EC               | CORP              | JE        |      471353 | NS      | $1701302.00   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Surgery Center Holdings, Inc.                                               | Surgery Center Holdings, Inc.                                                                          | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |     3734000 | PA      | $3759438.85   | 0.04%             | 2032-04-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: —       |
| Kodiak Gas Services LLC                                                     | Kodiak Gas Services LLC                                                                                | CUSIP: 50012LAC8<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     1711000 | PA      | $1774674.87   | 0.02%             | 2029-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Johnson & Johnson                                                           | Johnson & Johnson                                                                                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      114333 | NS      | $25982174.25  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2007-4, Class 8A1                                                | CUSIP: 05953YBY6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       49374 | PA      | $39826.26     | 0.00%             | 2034-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LSF12 Helix Parent LLC                                                      | LSF12 Helix Parent LLC, 1st Lien Term Loan B                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     1695000 | PA      | $1688643.75   | 0.02%             | 2033-01-24      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR15, Class A1A1                            | CUSIP: 92922F5T1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       18438 | PA      | $17421.24     | 0.00%             | 2045-11-25      | Floating      | 4.31%                 | No            |                  2 | On Loan: No      |
| Endeavour Group Ltd.                                                        | Endeavour Group Ltd.                                                                                   | CUSIP: N/A<br>LEI: 254900JAN9FOLMWAD533       | Long             | EC               | CORP              | AU        |      166808 | NS      | $428520.72    | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Emera, Inc.                                                                 | Emera, Inc., Series 16-A                                                                               | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |     7618000 | PA      | $7670038.56   | 0.09%             | 2076-06-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                                           | Merck & Co., Inc.                                                                                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      129677 | NS      | $14299482.79  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Digicel International Finance Ltd.                                          | Digicel International Finance Ltd.                                                                     | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1349000 | PA      | $1402717.18   | 0.02%             | 2032-08-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 11.90%, 02/13/2026                                                    | CUSIP: 61778U766<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       11839 | PA      | $4020967.81   | 0.05%             | 2026-02-13      | Fixed         | 11.90%                | No            |                  2 | On Loan: No      |
| Mastercard, Inc.                                                            | Mastercard, Inc., Class A                                                                              | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       33948 | NS      | $18290842.92  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                                                      | Sempra                                                                                                 | CUSIP: 816851BW8<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     1442000 | PA      | $1475235.32   | 0.02%             | 2056-04-01      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP                                                           | Genesis Energy LP                                                                                      | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3521000 | PA      | $3536143.82   | 0.04%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |      586385 | NS      | $3913572.96   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |     2000000 | PA      | $1958020.00   | 0.02%             | 2051-09-28      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               | CORP              | GB        |     2978977 | NS      | $4448222.04   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| DTE Energy Co.                                                              | DTE Energy Co.                                                                                         | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |       28698 | NS      | $3856437.24   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                | Royal Caribbean Cruises Ltd.                                                                           | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     2372000 | PA      | $2438453.64   | 0.03%             | 2031-09-30      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| AT&T, Inc.                                                                  | AT&T, Inc.                                                                                             | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      578860 | NS      | $15171920.60  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-28CB, Class 4A1                                                    | CUSIP: 12667FYT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        5312 | PA      | $4036.14      | 0.00%             | 2020-01-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hormel Foods Corp.                                                          | Hormel Foods Corp.                                                                                     | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |      168966 | NS      | $4158253.26   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedish Krona                                                               | Swedish Krona                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SE        |        6524 | OU      | $732.43       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Ireland Group plc                                                   | Bank of Ireland Group plc                                                                              | CUSIP: N/A<br>LEI: 635400C8EK6DRI12LJ39       | Long             | EC               | CORP              | IE        |       95807 | NS      | $1946555.72   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                              | JELD-WEN, Inc.                                                                                         | CUSIP: 47580PAA1<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     1695000 | PA      | $1061705.29   | 0.01%             | 2032-09-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| Midcontinent Communications                                                 | Midcontinent Communications                                                                            | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |     3668000 | PA      | $3529237.62   | 0.04%             | 2032-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-AR4, Class 4A1                             | CUSIP: 22541SFB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      601379 | PA      | $612803.57    | 0.01%             | 2034-05-25      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254DH0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |     1714000 | PA      | $1763568.88   | 0.02%             | 2035-11-14      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| PetSmart LLC                                                                | PetSmart LLC                                                                                           | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4092000 | PA      | $4196186.41   | 0.05%             | 2032-09-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| NESCO Holdings II, Inc.                                                     | NESCO Holdings II, Inc.                                                                                | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |     1187000 | PA      | $1169669.92   | 0.01%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Pfizer, Inc.                                                                | Pfizer, Inc.                                                                                           | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      158558 | NS      | $4192273.52   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase Commercial Mortgage Securities Trust                         | JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP3, Class D                          | CUSIP: 46590RAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4500000 | PA      | $3280441.05   | 0.04%             | 2049-08-15      | Variable      | 3.43%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     1031000 | PA      | $1031587.67   | 0.01%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2020-195, Class IX                                                                        | CUSIP: 38380RLL2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     1688417 | PA      | $134252.82    | 0.00%             | 2062-12-16      | Variable      | 1.13%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 16.70%, 02/13/2026                                                           | CUSIP: 83371Q604<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |       18233 | PA      | $4594606.85   | 0.05%             | 2026-02-13      | Fixed         | 16.70%                | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                      | Cleveland-Cliffs, Inc.                                                                                 | CUSIP: 185899AN1<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     2612000 | PA      | $2670869.26   | 0.03%             | 2030-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Encompass Health Corp.                                                      | Encompass Health Corp.                                                                                 | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |     2431000 | PA      | $2419838.31   | 0.03%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 12.20%, 02/20/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       33952 | PA      | $4090729.11   | 0.05%             | 2026-02-20      | Fixed         | 12.20%                | No            |                  2 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2018-CD7, Class D                                                            | CUSIP: 12512JAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $1675907.60   | 0.02%             | 2051-08-15      | Variable      | 3.09%                 | Yes           |                  2 | On Loan: No      |
| DIRECTV Financing LLC                                                       | DIRECTV Financing LLC, 1st Lien Term Loan                                                              | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      198269 | PA      | $198340.15    | 0.00%             | 2027-08-02      | Variable      | 8.93%                 | No            |                  2 | On Loan: No      |
| Republic of El Salvador                                                     | Republic of El Salvador                                                                                | CUSIP: N/A<br>LEI: 529900AKDMUSFSDOM949       | Long             | DBT              | NUSS              | SV        |      620000 | PA      | $672700.00    | 0.01%             | 2030-04-17      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2015-GC28, Class D                                                | CUSIP: 36251FAG1<br>LEI: 5493002EPQ51IPGGFX73 | Long             | ABS-MBS          | CORP              | US        |     1053213 | PA      | $1008451.66   | 0.01%             | 2048-02-10      | Variable      | 4.57%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkiye (The)                                                   | Republic of Turkiye (The)                                                                              | CUSIP: 900123DJ6<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      900000 | PA      | $1019700.00   | 0.01%             | 2030-07-13      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Bombardier, Inc.                                                            | Bombardier, Inc.                                                                                       | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |      260000 | PA      | $270079.91    | 0.00%             | 2029-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                                           | Clarios Global LP                                                                                      | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2461000 | PA      | $2547208.83   | 0.03%             | 2032-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: 254900EHU7Q8FGVPI369       | Long             | DBT              | NUSS              | DO        |     2000000 | PA      | $2137750.00   | 0.02%             | 2055-02-24      | Fixed         | 7.15%                 | Yes           |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.                                 | Taiwan Semiconductor Manufacturing Co. Ltd.                                                            | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |     1747574 | NS      | $96633741.95  | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 11.00%, 02/20/2026                                                    | CUSIP: 61780F195<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |        9608 | PA      | $9008092.83   | 0.10%             | 2026-02-20      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Strabag SE                                                                  | Strabag SE                                                                                             | CUSIP: N/A<br>LEI: 529900TYYSRJH2VJSP60       | Long             | EC               | CORP              | AT        |        7560 | NS      | $784109.03    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325EM3<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     2502000 | PA      | $2749698.00   | 0.03%             | 2053-11-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                                         | Buckeye Partners LP                                                                                    | CUSIP: 118230AU5<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     4925000 | PA      | $4904209.11   | 0.06%             | 2028-03-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Commercial Metals Co.                                                       | Commercial Metals Co.                                                                                  | CUSIP: 201723AS2<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     1868000 | PA      | $1899190.00   | 0.02%             | 2033-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CPI Holdco B LLC                                                            | CPI Holdco B LLC, 1st Lien Term Loan                                                                   | CUSIP: 1261MAAE0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      479598 | PA      | $476998.12    | 0.01%             | 2031-05-19      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| QXO Building Products, Inc.                                                 | QXO Building Products, Inc.                                                                            | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |     3470000 | PA      | $3575765.60   | 0.04%             | 2032-04-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                                                   | CUSIP: 18453H106<br>LEI: 254900XBEE6V1ENYS150 | Long             | EC               | CORP              | US        |      287095 | NS      | $600028.55    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                                                | Iberdrola SA                                                                                           | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |        1267 | NS      | $28485.64     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Snap, Inc.                                                                  | Snap, Inc.                                                                                             | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |      969000 | PA      | $994344.20    | 0.01%             | 2033-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| BE Semiconductor Industries NV                                              | BE Semiconductor Industries NV                                                                         | CUSIP: N/A<br>LEI: 7245007A1YFLI2GNYX06       | Long             | EC               | CORP              | NL        |       11793 | NS      | $2295429.65   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 78016FZZ0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |      177000 | PA      | $178139.05    | 0.00%             | 2026-07-20      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc., Series 20-A                                                                            | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    10157000 | PA      | $10280823.99  | 0.12%             | 2080-07-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Kia Corp.                                                                   | Kia Corp.                                                                                              | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |       71106 | NS      | $7565907.20   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                        | American Tower Corp.                                                                                   | CUSIP: 03027XBR0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |       22000 | PA      | $21658.92     | 0.00%             | 2026-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Yamaha Motor Co. Ltd.                                                       | Yamaha Motor Co. Ltd.                                                                                  | CUSIP: N/A<br>LEI: 3538004LR5NXILJDHY88       | Long             | EC               | CORP              | JP        |       27000 | NS      | $203895.96    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                                          | Arches Buyer, Inc.                                                                                     | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |      619000 | PA      | $605223.47    | 0.01%             | 2028-12-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Acushnet Co.                                                                | Acushnet Co.                                                                                           | CUSIP: 005095AB0<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |      430000 | PA      | $434042.00    | 0.01%             | 2033-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 78017FZT3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |      970000 | PA      | $984098.44    | 0.01%             | 2030-10-18      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| NCC AB                                                                      | NCC AB, Class B                                                                                        | CUSIP: N/A<br>LEI: 213800WRGLW3CY4MHW53       | Long             | EC               | CORP              | SE        |       80975 | NS      | $2073506.71   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AmeriGas Partners LP                                                        | AmeriGas Partners LP                                                                                   | CUSIP: 030981AL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1154000 | PA      | $1162092.94   | 0.01%             | 2027-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2025-3, Class D                                   | CUSIP: 02528EAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      940000 | PA      | $947321.85    | 0.01%             | 2032-07-12      | Fixed         | 5.19%                 | Yes           |                  2 | On Loan: No      |
| Blue Racer Midstream LLC                                                    | Blue Racer Midstream LLC                                                                               | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1680000 | PA      | $1781152.80   | 0.02%             | 2032-07-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 14.40%, 02/13/2026                                                    | CUSIP: 61778U782<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       23883 | PA      | $3225180.56   | 0.04%             | 2026-02-13      | Fixed         | 14.40%                | No            |                  2 | On Loan: No      |
| NGL Energy Operating LLC                                                    | NGL Energy Operating LLC                                                                               | CUSIP: 62922LAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2145000 | PA      | $2245081.41   | 0.03%             | 2032-02-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                                          | Arches Buyer, Inc., 1st Lien Term Loan                                                                 | CUSIP: 03952HAD6<br>LEI: 2549009ADY4208OH2Y47 | Long             | LON              | CORP              | US        |      226379 | PA      | $225288.28    | 0.00%             | 2027-12-06      | Variable      | 7.02%                 | 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        |      607666 | PA      | $588864.60    | 0.01%             | 2030-08-09      | Variable      | 6.66%                 | No            |                  2 | On Loan: No      |
| Dexus                                                                       | Dexus                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |       57176 | NS      | $266741.44    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     8407000 | PA      | $7927078.84   | 0.09%             | 2030-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Stryker Corp.                                                               | Stryker Corp.                                                                                          | CUSIP: 863667BL4<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |     1005000 | PA      | $1031150.49   | 0.01%             | 2030-02-10      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Hashemite Kingdom of Jordan                                                 | Hashemite Kingdom of Jordan                                                                            | CUSIP: N/A<br>LEI: 5493000JZ4MYPVMBVN50       | Long             | DBT              | NUSS              | JO        |      800000 | PA      | $838000.00    | 0.01%             | 2029-01-13      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JW89<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     1320000 | PA      | $1290960.00   | 0.01%             | 2049-03-01      | Fixed         | 8.70%                 | Yes           |                  2 | On Loan: No      |
| Staples, Inc.                                                               | Staples, Inc., 1st Lien Term Loan                                                                      | CUSIP: 855031AU4<br>LEI: XQM2JINI1UL7642TU573 | Long             | LON              | CORP              | US        |      953205 | PA      | $908461.20    | 0.01%             | 2029-08-23      | Variable      | 9.60%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GGR4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      250000 | PA      | $248491.82    | 0.00%             | 2028-07-21      | Variable      | 3.59%                 | No            |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                                | Scotts Miracle-Gro Co. (The)                                                                           | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     3762000 | PA      | $3704237.50   | 0.04%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| GNMA                                                                        | GNMA, Series 2021-33                                                                                   | CUSIP: 38380RVE7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     7871385 | PA      | $497407.78    | 0.01%             | 2062-10-16      | Variable      | 0.84%                 | No            |                  2 | On Loan: No      |
| Structured Asset Mortgage Investments II Trust                              | Structured Asset Mortgage Investments II Trust, Series 2005-AR3, Class 1A1                             | CUSIP: 86359LJZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1382983 | PA      | $1337061.71   | 0.02%             | 2035-08-25      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                                   | Sunoco LP                                                                                              | CUSIP: 86765LAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2645000 | PA      | $2603398.65   | 0.03%             | 2029-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Nationwide Building Society                                                 | Nationwide Building Society                                                                            | CUSIP: 63861VAJ6<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |      250000 | PA      | $254311.32    | 0.00%             | 2027-10-18      | Variable      | 6.56%                 | Yes           |                  2 | On Loan: No      |
| SPX FLOW, Inc.                                                              | SPX FLOW, Inc., 1st Lien Term Loan                                                                     | CUSIP: 78470DAW8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     2115374 | PA      | $2114824.01   | 0.02%             | 2029-04-05      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                                            | IndyMac INDX Mortgage Loan Trust, Series 2005-AR14, Class 2A1A                                         | CUSIP: 45660LRX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      560016 | PA      | $450690.20    | 0.01%             | 2035-07-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| UNITE Group plc (The)                                                       | UNITE Group plc (The)                                                                                  | CUSIP: N/A<br>LEI: 213800BBUUWVDH9YI827       | Long             | EC               | CORP              | GB        |       21773 | NS      | $169337.02    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Howard Midstream Energy Partners LLC                                        | Howard Midstream Energy Partners LLC                                                                   | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2177000 | PA      | $2299575.99   | 0.03%             | 2032-07-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Republic of Ecuador                                                         | Republic of Ecuador                                                                                    | CUSIP: 27927WAQ5<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     1766000 | PA      | $1784507.68   | 0.02%             | 2034-01-29      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Azule Energy Finance plc                                                    | Azule Energy Finance plc                                                                               | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |      700000 | PA      | $705726.91    | 0.01%             | 2030-01-23      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                                               | Citigroup Mortgage Loan Trust, Series 2006-AR5, Class 1A5A                                             | CUSIP: 17309FAH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      277695 | PA      | $272658.58    | 0.00%             | 2036-07-25      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN19, Class C                                                                        | CUSIP: 06540WBG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     7500000 | PA      | $5546498.25   | 0.06%             | 2061-08-15      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| Hydro One Ltd.                                                              | Hydro One Ltd.                                                                                         | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |       10704 | NS      | $423160.37    | 0.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Entegris, Inc.                                                              | Entegris, Inc.                                                                                         | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     7567000 | PA      | $7721298.70   | 0.09%             | 2030-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Regions Financial Corp.                                                     | Regions Financial Corp.                                                                                | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      388949 | NS      | $11085046.50  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Zambia                                                          | Republic of Zambia                                                                                     | CUSIP: 988895AQ1<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     1141356 | PA      | $1115675.54   | 0.01%             | 2033-06-30      | Variable      | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The)                                                                              | CUSIP: 06419GEE2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     1425000 | PA      | $1463201.40   | 0.02%             | 2085-10-27      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                     | Level 3 Financing, Inc.                                                                                | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     5615000 | PA      | $5786206.97   | 0.07%             | 2033-06-30      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust                                              | HarborView Mortgage Loan Trust, Series 2005-11, Class 2A1A                                             | CUSIP: 41161PUK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       82193 | PA      | $78748.89     | 0.00%             | 2045-08-19      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| Comision Ejecutiva Hidroelectrica del Rio Lempa                             | Comision Ejecutiva Hidroelectrica del Rio Lempa                                                        | CUSIP: 200444AA5<br>LEI: 254900YU43PQQ27Q0E71 | Long             | DBT              | NUSS              | SV        |      288000 | PA      | $307440.00    | 0.00%             | 2033-01-24      | Fixed         | 8.65%                 | Yes           |                  2 | On Loan: No      |
| Bausch + Lomb Corp.                                                         | Bausch + Lomb Corp., 1st Lien Term Loan                                                                | CUSIP: C0787FAL6<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |      353187 | PA      | $355394.45    | 0.00%             | 2031-01-15      | Variable      | 7.42%                 | No            |                  2 | On Loan: No      |
| Maire SpA                                                                   | Maire SpA                                                                                              | CUSIP: N/A<br>LEI: 815600D85A61200A1B83       | Long             | EC               | CORP              | IT        |      130706 | NS      | $2283742.14   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc.                                                                               | CUSIP: 550241AB9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     2183627 | PA      | $2183627.00   | 0.03%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2020-GC46, Class E                                         | CUSIP: 17328RAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4500000 | PA      | $2452537.35   | 0.03%             | 2053-02-15      | Fixed         | 2.60%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                                         | Bank of New York Mellon Corp. (The), Series F                                                          | CUSIP: 064058AF7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     6537000 | PA      | $6511729.27   | 0.08%             | 2026-09-20      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 12.80%, 02/06/2026                                                    | CUSIP: 61778U550<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       63673 | PA      | $4431681.88   | 0.05%             | 2026-02-06      | Fixed         | 12.80%                | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     4755000 | PA      | $4839880.22   | 0.06%             | 2030-07-26      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                                  | Builders FirstSource, Inc.                                                                             | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     2200000 | PA      | $2276291.60   | 0.03%             | 2034-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2017-P7, Class B                                           | CUSIP: 17325HBS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      910000 | PA      | $863679.91    | 0.01%             | 2050-04-14      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd.                                                           | Symphony CLO Ltd., Series 2018-19A, Class B                                                            | CUSIP: 87165YAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1400000 | PA      | $1402976.40   | 0.02%             | 2031-04-16      | Floating      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| Range Resources Corp.                                                       | Range Resources Corp.                                                                                  | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |      242000 | PA      | $238679.75    | 0.00%             | 2030-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| DBJPM Mortgage Trust                                                        | DBJPM Mortgage Trust, Series 2016-C3, Class D                                                          | CUSIP: 23312VAS5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3570000 | PA      | $2318226.62   | 0.03%             | 2049-08-10      | Variable      | 3.48%                 | Yes           |                  2 | On Loan: No      |
| Endo GUC Trust                                                              | Endo GUC Trust                                                                                         | CUSIP: 29281F105<br>LEI: N/A                  | Long             |  | PF                | US        |      377311 | NS      | $216953.83    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Pagaya AI Debt Selection Trust                                              | Pagaya AI Debt Selection Trust, Series 2021-3, Class C                                                 | CUSIP: 69546RAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      189727 | PA      | $187496.85    | 0.00%             | 2029-05-15      | Fixed         | 3.27%                 | Yes           |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                                     | Fremont Home Loan Trust, Series 2004-B, Class M2                                                       | CUSIP: 35729PDR8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      201950 | PA      | $209093.50    | 0.00%             | 2034-05-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Temenos AG                                                                  | Temenos AG (Registered)                                                                                | CUSIP: N/A<br>LEI: 5067007NW6550481FH64       | Long             | EC               | CORP              | CH        |        8845 | NS      | $781667.24    | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2004-25, Class 2A1                                             | CUSIP: 12669GKF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1409789 | PA      | $1326384.58   | 0.02%             | 2035-02-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Turkish Lira                                                                | Turkish Lira                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | TR        |          71 | OU      | $1.62         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| OBX Trust                                                                   | OBX Trust, Series 2026-NQM2, Class A1A                                                                 | CUSIP: 67123VAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1040000 | PA      | $1041605.24   | 0.01%             | 2065-12-01      | Variable      | 4.82%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                                            | Altice France SA, 1st Lien Term Loan B-14                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |      152686 | PA      | $154721.70    | 0.00%             | 2031-05-30      | Variable      | 10.55%                | No            |                  2 | On Loan: No      |
| Dai Nippon Printing Co. Ltd.                                                | Dai Nippon Printing Co. Ltd.                                                                           | CUSIP: N/A<br>LEI: 529900S7NFNQ4FT6OP83       | Long             | EC               | CORP              | JP        |       42600 | NS      | $764337.95    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Ageas SA                                                                    | Ageas SA                                                                                               | CUSIP: N/A<br>LEI: 5493005DJBML6LY3RV36       | Long             | EC               | CORP              | BE        |       24357 | NS      | $1730088.18   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                  | Prudential Financial, Inc.                                                                             | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |       34474 | NS      | $3830406.14   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Medline Borrower LP                                                         | Medline Borrower LP                                                                                    | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |     9852000 | PA      | $9632500.00   | 0.11%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Orion OYJ                                                                   | Orion OYJ, Class B                                                                                     | CUSIP: N/A<br>LEI: 74370029VAHCXDR7B745       | Long             | EC               | CORP              | FI        |       17155 | NS      | $1418686.12   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DB Insurance Co. Ltd.                                                       | DB Insurance Co. Ltd.                                                                                  | CUSIP: N/A<br>LEI: 9884000ZF26VNJBWSJ91       | Long             | EC               | CORP              | KR        |       25354 | NS      | $2503186.92   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    16476000 | PA      | $15084521.07  | 0.17%             | 2031-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-5, Class B1                                                    | CUSIP: 92538KAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3826000 | PA      | $2825715.26   | 0.03%             | 2066-09-25      | Variable      | 3.04%                 | Yes           |                  2 | On Loan: No      |
| Synopsys, Inc.                                                              | Synopsys, Inc.                                                                                         | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |      875000 | PA      | $892914.66    | 0.01%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                      | Truist Financial Corp.                                                                                 | CUSIP: 89788MAU6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |      395000 | PA      | $404771.42    | 0.00%             | 2031-05-20      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                                                    | SBA Communications Corp.                                                                               | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |     1085000 | PA      | $1076957.11   | 0.01%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC MSCR Trust, Series 2021-MN3, Class M1                                                            | CUSIP: 35563GAA7<br>LEI: 549300FK6HM4FW58SP67 | Long             | ABS-MBS          | USGSE             | US        |      854178 | PA      | $854990.15    | 0.01%             | 2051-11-25      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                        | Mitsubishi UFJ Financial Group, Inc.                                                                   | CUSIP: 606822BY9<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |      264000 | PA      | $260933.96    | 0.00%             | 2027-07-20      | Variable      | 1.54%                 | No            |                  2 | On Loan: No      |
| Archrock Partners LP                                                        | Archrock Partners LP                                                                                   | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1609000 | PA      | $1667884.57   | 0.02%             | 2032-09-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |     1300000 | PA      | $1383200.00   | 0.02%             | 2029-03-24      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| VASA Trust                                                                  | VASA Trust, Series 2021-VASA, Class G                                                                  | CUSIP: 92230AAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1360000 | PA      | $975004.26    | 0.01%             | 2039-07-15      | Floating      | 8.80%                 | Yes           |                  2 | On Loan: No      |
| Atlas Arteria Ltd.                                                          | Atlas Arteria Ltd.                                                                                     | CUSIP: N/A<br>LEI: 254900SGF4ZQDBH2YC59       | Long             | EC               | CORP              | AU        |      161234 | NS      | $556432.29    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |     5231000 | PA      | $5271571.64   | 0.06%             | 2026-06-27      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Federal Democratic Republic of Ethiopia                                     | Federal Democratic Republic of Ethiopia                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | ET        |     1350000 | PA      | $1424250.00   | 0.02%             | 2024-12-11      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                                 | United Parcel Service, Inc., Class B                                                                   | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |       47155 | NS      | $5008804.10   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GQG Partners, Inc.                                                          | GQG Partners, Inc.                                                                                     | CUSIP: N/A<br>LEI: 254900I3AQSQQQA75U50       | Long             | EC               | CORP              | US        |      234343 | NS      | $255378.11    | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Balfour Beatty plc                                                          | Balfour Beatty plc                                                                                     | CUSIP: N/A<br>LEI: CT4UIJ3TUKGYYHMENQ17       | Long             | EC               | CORP              | GB        |      227999 | NS      | $2232637.84   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      839000 | PA      | $827663.05    | 0.01%             | 2030-02-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Athene Global Funding                                                       | Athene Global Funding                                                                                  | CUSIP: 04685A3V1<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |      335000 | PA      | $336299.19    | 0.00%             | 2026-05-08      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Saavi Energia Sarl                                                          | Saavi Energia SARL                                                                                     | CUSIP: 78518PAA3<br>LEI: 254900A2V0IO8K56UH35 | Long             | DBT              | CORP              | LU        |     1729000 | PA      | $1871901.85   | 0.02%             | 2035-02-10      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Bank of Montreal                                                            | Bank of Montreal                                                                                       | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     4575000 | PA      | $4880802.15   | 0.06%             | 2084-11-26      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| Coherent Corp.                                                              | Coherent Corp., 1st Lien Term Loan B-3                                                                 | CUSIP: 45173JAT1<br>LEI: 549300O5C25A0MMHHU33 | Long             | LON              | CORP              | US        |      322143 | PA      | $322680.69    | 0.00%             | 2029-07-02      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG (Registered)                                                                              | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |      104320 | NS      | $4935942.31   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Simon Property Group, Inc.                                                  | Simon Property Group, Inc.                                                                             | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |       24213 | NS      | $4632189.03   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp.                                                         | Regal Rexnord Corp.                                                                                    | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |     2552000 | PA      | $2727136.18   | 0.03%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series FF                                                                       | CUSIP: 060505FL3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     4378000 | PA      | $4432042.03   | 0.05%             | 2028-03-15      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                      | Cleveland-Cliffs, Inc.                                                                                 | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     1772000 | PA      | $1699031.88   | 0.02%             | 2031-03-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Chariot Buyer LLC                                                           | Chariot Buyer LLC, 1st Lien Term Loan                                                                  | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |      533615 | PA      | $532825.08    | 0.01%             | 2032-09-08      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                                              | Hewlett Packard Enterprise Co.                                                                         | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |      187715 | NS      | $4039626.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 13.20%, 02/13/2026                                                    | CUSIP: 61778U758<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       71088 | PA      | $4378327.70   | 0.05%             | 2026-02-13      | Fixed         | 13.20%                | Yes           |                  2 | On Loan: No      |
| SSAB AB                                                                     | SSAB AB, Class B                                                                                       | CUSIP: N/A<br>LEI: 529900329VS14ZIML164       | Long             | EC               | CORP              | SE        |      269851 | NS      | $2219891.80   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Central Garden & Pet Co.                                                    | Central Garden & Pet Co.                                                                               | CUSIP: 153527AM8<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |     6555000 | PA      | $6549834.00   | 0.08%             | 2028-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254CM0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |     3866000 | PA      | $4016774.00   | 0.05%             | 2027-08-15      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2022-KF132, Class CS                                                      | CUSIP: 30325VAE6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     7402689 | PA      | $6871889.76   | 0.08%             | 2032-02-25      | Floating      | 10.19%                | Yes           |                  2 | On Loan: No      |
| Outfront Media Capital LLC                                                  | Outfront Media Capital LLC                                                                             | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4198000 | PA      | $4421190.87   | 0.05%             | 2031-02-15      | Fixed         | 7.38%                 | Yes           |                  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        |     3735230 | PA      | $3723576.27   | 0.04%             | 2029-10-19      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| Nmg Escrow                                                                  | Nmg Escrow                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        4386 | NS      | $2193.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Republic of Honduras                                                        | Republic of Honduras                                                                                   | CUSIP: N/A<br>LEI: 5493002DW1JNBNG17615       | Long             | DBT              | NUSS              | HN        |     1050000 | PA      | $1060500.00   | 0.01%             | 2027-01-19      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Banco do Brasil SA                                                          | Banco do Brasil SA                                                                                     | CUSIP: N/A<br>LEI: QE0Q0253K88YAGNPE356       | Long             | EC               | CORP              | BR        |      505901 | NS      | $2415712.72   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Univision Communications, Inc.                                              | Univision Communications, Inc.                                                                         | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |       87000 | PA      | $90728.56     | 0.00%             | 2031-07-31      | Fixed         | 8.50%                 | Yes           |                  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        |     1482764 | PA      | $1481444.65   | 0.02%             | 2028-08-23      | Variable      | 7.79%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2022-7, Class SA                                                                          | CUSIP: 38381EPC6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    14324992 | PA      | $590032.10    | 0.01%             | 2064-02-16      | Floating      | 3.37%                 | No            |                  2 | On Loan: No      |
| Eni SpA                                                                     | Eni SpA                                                                                                | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               | CORP              | IT        |      250244 | NS      | $5114770.49   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Trust                                                | Chase Mortgage Finance Trust, Series 2006-S3, Class 1A2                                                | CUSIP: 16162XAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1044793 | PA      | $425808.41    | 0.00%             | 2036-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Petroleos de Venezuela SA                                                   | Petroleos de Venezuela SA                                                                              | CUSIP: N/A<br>LEI: 549300YWR8TN1OFD4P06       | Long             | DBT              | NUSS              | VE        |    17960000 | PA      | $5352080.00   | 0.06%             | 2027-04-12      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Vinci SA                                                                    | Vinci SA                                                                                               | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |       69013 | NS      | $9923015.63   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Novelis Corp.                                                               | Novelis Corp.                                                                                          | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |      618000 | PA      | $640526.72    | 0.01%             | 2030-01-30      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AW9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |     1330000 | PA      | $1364087.90   | 0.02%             | 2032-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: 22534PAH6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |      476000 | PA      | $482259.73    | 0.01%             | 2027-03-11      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Impac Secured Assets CMN Owner Trust                                        | Impac Secured Assets CMN Owner Trust, Series 2003-2, Class A4                                          | CUSIP: 45254TMV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      131388 | PA      | $87466.25     | 0.00%             | 2033-08-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Citi Asset Receivables Trust I                                              | Citi Asset Receivables Trust I, Series 2025-5, Class CERT                                              | CUSIP: 17302HAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      150098 | PA      | $149783.13    | 0.00%             | 2031-08-20      | Fixed         | 25.83%                | Yes           |                  3 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 09.90%, 02/06/2026                                                    | CUSIP: 61778U576<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       33585 | PA      | $4400943.63   | 0.05%             | 2026-02-06      | Fixed         | 9.90%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                      | Velocity Commercial Capital Loan Trust, Series 2018-2, Class A                                         | CUSIP: 92259BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      984608 | PA      | $967784.31    | 0.01%             | 2048-10-26      | Variable      | 4.05%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems US Holdings, Inc.                                    | Axalta Coating Systems US Holdings, Inc., 1st Lien Term Loan B-7                                       | CUSIP: 90347BAP3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      380645 | PA      | $380408.73    | 0.00%             | 2029-12-20      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Series 2025-MN11, Class M1                                                                      | CUSIP: 35563YAA8<br>LEI: 529900E2V0BG2KXC9E18 | Long             | ABS-MBS          | USGSE             | US        |     2698659 | PA      | $2697945.71   | 0.03%             | 2045-07-25      | Floating      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Republic of Ecuador                                                         | Republic of Ecuador                                                                                    | CUSIP: N/A<br>LEI: 5299003Y2U5XK0A35H71       | Long             | DBT              | NUSS              | EC        |     9411818 | PA      | $7774161.67   | 0.09%             | 2040-07-31      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-13CB, Class A4                                                     | CUSIP: 12667GAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      643108 | PA      | $554777.15    | 0.01%             | 2035-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                                            | Virgin Media Secured Finance plc                                                                       | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |     4295000 | PA      | $4236208.75   | 0.05%             | 2029-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: 25714PEE4<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      880000 | PA      | $783090.00    | 0.01%             | 2060-01-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Wayfair LLC                                                                 | Wayfair LLC                                                                                            | CUSIP: 94419NAA5<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |     1106000 | PA      | $1156420.33   | 0.01%             | 2029-10-31      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC, 1st Lien Term Loan B-13                                                                   | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     2219021 | PA      | $2220596.34   | 0.03%             | 2030-09-19      | Variable      | 7.92%                 | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE                                         | LVMH Moet Hennessy Louis Vuitton SE                                                                    | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |        5025 | NS      | $3243158.34   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| SES SA                                                                      | SES SA                                                                                                 | CUSIP: N/A<br>LEI: 5493008JPA4HYMH1HX51       | Long             | EC               | CORP              | LU        |      270380 | NS      | $3920510.00   | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| INEOS US Finance LLC                                                        | INEOS US Finance LLC, 1st Lien Term Loan                                                               | CUSIP: G4768PAN1<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |     4938730 | PA      | $3555885.96   | 0.04%             | 2030-02-18      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Kingston Airport Revenue Finance Ltd.                                       | Kingston Airport Revenue Finance Ltd.                                                                  | CUSIP: 49647QAA6<br>LEI: 254900SK2YRR95AVHU30 | Long             | DBT              | CORP              | KY        |     1299000 | PA      | $1326928.50   | 0.02%             | 2036-12-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| MRCD MARK Mortgage Trust                                                    | MRCD MARK Mortgage Trust, Series 2019-PARK, Class G                                                    | CUSIP: 55348UAW8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4000000 | PA      | $2169200.00   | 0.03%             | 2036-12-15      | Fixed         | 2.72%                 | Yes           |                  2 | On Loan: No      |
| Swedbank AB                                                                 | Swedbank AB                                                                                            | CUSIP: 87020PAT4<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |      350000 | PA      | $357730.03    | 0.00%             | 2027-09-20      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Gartner, Inc.                                                               | Gartner, Inc.                                                                                          | CUSIP: 366651AG2<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |     1138000 | PA      | $1098803.92   | 0.01%             | 2029-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| RELX plc                                                                    | RELX plc                                                                                               | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |      282012 | NS      | $9997894.88   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2024-32                                                                                   | CUSIP: 38381J2J5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    49666135 | PA      | $2576654.23   | 0.03%             | 2063-06-16      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR24, Class D                                                   | CUSIP: 12593JBL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2134000 | PA      | $1984620.00   | 0.02%             | 2048-08-10      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| Prudential plc                                                              | Prudential plc                                                                                         | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |      182492 | NS      | $2997476.09   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |      515000 | PA      | $423822.65    | 0.00%             | 2030-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |     1300000 | PA      | $1535300.00   | 0.02%             | 2034-12-09      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: 035198AH3<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     1900000 | PA      | $1917214.00   | 0.02%             | 2031-01-15      | Fixed         | 9.24%                 | Yes           |                  2 | On Loan: No      |
| MPT Operating Partnership LP                                                | MPT Operating Partnership LP                                                                           | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1606000 | PA      | $1720599.34   | 0.02%             | 2032-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                                | Antero Midstream Partners LP                                                                           | CUSIP: 03690AAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1429000 | PA      | $1444585.42   | 0.02%             | 2033-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Suriname Government International Bond                                      | Suriname Government International Bond                                                                 | CUSIP: 86886PAE2<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |     1975000 | PA      | $2048568.75   | 0.02%             | 2030-11-06      | Fixed         | 7.70%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                      | Cleveland-Cliffs, Inc.                                                                                 | CUSIP: 185899AK7<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     3037000 | PA      | $2988320.23   | 0.03%             | 2029-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2005-A8, Class 4A1                                                     | CUSIP: 466247YZ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      910309 | PA      | $739568.01    | 0.01%             | 2035-11-25      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205BH6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      515000 | PA      | $499550.00    | 0.01%             | 2037-12-11      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2023-6, Class B1                                                    | CUSIP: 92539XAE4<br>LEI: 984500915DDB7T2ACA27 | Long             | ABS-MBS          | CORP              | US        |     3500000 | PA      | $3535959.70   | 0.04%             | 2068-09-25      | Variable      | 7.77%                 | Yes           |                  2 | On Loan: No      |
| Invincible Investment Corp.                                                 | Invincible Investment Corp.                                                                            | CUSIP: N/A<br>LEI: 353800JY6M2692VAV685       | Long             | EC               | CORP              | JP        |         688 | NS      | $291380.67    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Orion Advisor Solutions, Inc.                                               | Orion Advisor Solutions, Inc., 1st Lien Term Loan                                                      | CUSIP: 68627BAK1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      529320 | PA      | $527006.97    | 0.01%             | 2030-09-24      | Variable      | 7.11%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     1735000 | PA      | $1034150.57   | 0.01%             | 2031-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Glencore plc                                                                | Glencore plc                                                                                           | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |      502090 | NS      | $3422926.50   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Mapfre SA                                                                   | Mapfre SA                                                                                              | CUSIP: N/A<br>LEI: 95980020140005693107       | Long             | EC               | CORP              | ES        |      279722 | NS      | $1279934.89   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Raiffeisen Bank International AG                                            | Raiffeisen Bank International AG                                                                       | CUSIP: N/A<br>LEI: 9ZHRYM6F437SQJ6OUG95       | Long             | EC               | CORP              | AT        |       26013 | NS      | $1311198.14   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2014-C26, Class C                                   | CUSIP: 46643TBG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1926232 | PA      | $1832809.75   | 0.02%             | 2048-01-15      | Variable      | 4.11%                 | No            |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AS8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |      396000 | PA      | $424611.00    | 0.00%             | 2033-01-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280CL1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |      663000 | PA      | $641415.45    | 0.01%             | 2028-09-22      | Variable      | 2.01%                 | No            |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                                     | FHLMC STACR REMIC Trust, Series 2021-HQA2, Class B2                                                    | CUSIP: 35564KGS2<br>LEI: 5493000ISM9M3KNO6J64 | Long             | ABS-MBS          | CORP              | US        |     1200000 | PA      | $1453079.40   | 0.02%             | 2033-12-25      | Floating      | 9.15%                 | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2023-2, Class A1                                                      | CUSIP: 12598UAA4<br>LEI: 213800IHRVKO9R6JZ883 | Long             | ABS-MBS          | CORP              | US        |     1481192 | PA      | $1487824.70   | 0.02%             | 2068-07-25      | Variable      | 6.60%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                        | Frontier Communications Holdings LLC                                                                   | CUSIP: 35908MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       50000 | PA      | $50455.00     | 0.00%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2022-3, Class F                                   | CUSIP: 02528GAL7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      500000 | PA      | $500835.95    | 0.01%             | 2029-05-14      | Fixed         | 9.76%                 | Yes           |                  2 | On Loan: No      |
| Koninklijke KPN NV                                                          | Koninklijke KPN NV                                                                                     | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |     2545484 | NS      | $12466545.64  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2025-202                                                                                  | CUSIP: 38384TDX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     7130724 | PA      | $521214.54    | 0.01%             | 2067-09-16      | Variable      | 0.72%                 | No            |                  2 | On Loan: No      |
| Power Grid Corp. of India Ltd.                                              | Power Grid Corp. of India Ltd.                                                                         | CUSIP: N/A<br>LEI: 3358009SHWZ3DZEQ4Z56       | Long             | EC               | CORP              | IN        |     1415952 | NS      | $3952663.46   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2021-169                                                                                  | CUSIP: 38381DY87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    10548944 | PA      | $853519.26    | 0.01%             | 2061-06-16      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JX21<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      880000 | PA      | $891000.00    | 0.01%             | 2032-01-15      | Fixed         | 7.05%                 | Yes           |                  2 | On Loan: No      |
| Trinseo Luxco Finance SPV SARL                                              | Trinseo Luxco Finance SPV SARL                                                                         | CUSIP: 89668JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     2848103 | PA      | $71202.58     | 0.00%             | 2029-05-03      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| General Mills, Inc.                                                         | General Mills, Inc.                                                                                    | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |       86150 | NS      | $3985299.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| First Advantage Holdings LLC                                                | First Advantage Holdings LLC, 1st Lien Term Loan B-3                                                   | CUSIP: 78477MAH4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     3402326 | PA      | $3268376.40   | 0.04%             | 2031-10-31      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                | Oracle Corp.                                                                                           | CUSIP: N/A<br>LEI: 529900MIMKY9RU60Z323       | Long             | EC               | CORP              | JP        |        1700 | NS      | $115030.58    | 0.00%             |  |  |  | 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        |      440526 | PA      | $439701.72    | 0.01%             | 2030-01-31      | Variable      | 7.17%                 | 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        |     2922801 | PA      | $2890650.31   | 0.03%             | 2031-11-19      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| TriNet Group, Inc.                                                          | TriNet Group, Inc.                                                                                     | CUSIP: 896288AC1<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |     2095000 | PA      | $2155407.23   | 0.02%             | 2031-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Paraguay Government International Bond                                      | Republic of Paraguay                                                                                   | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |     2100000 | PA      | $1938037.50   | 0.02%             | 2050-03-30      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Airbus SE                                                                   | Airbus SE                                                                                              | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | NL        |       10206 | NS      | $2336663.92   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Lancashire Holdings Ltd.                                                    | Lancashire Holdings Ltd.                                                                               | CUSIP: N/A<br>LEI: 5493002UNUYXLHOWF752       | Long             | EC               | CORP              | BM        |      153139 | NS      | $1293311.35   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2005-6, Class 1A2                                                | CUSIP: 05946XM26<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      881050 | PA      | $714503.63    | 0.01%             | 2035-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dryden 37 Senior Loan Fund                                                  | Dryden Senior Loan Fund, Series 2015-37A, Class AR                                                     | CUSIP: 26249MAN7<br>LEI: 254900I0IPNA482LDS44 | Long             | ABS-CBDO         | CORP              | KY        |      159538 | PA      | $159616.83    | 0.00%             | 2031-01-15      | Floating      | 5.03%                 | Yes           |                  2 | On Loan: No      |
| NuStar Logistics LP                                                         | NuStar Logistics LP                                                                                    | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |     1920000 | PA      | $2011680.00   | 0.02%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2004-A6, Class 1A1                                                     | CUSIP: 466247GR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       16684 | PA      | $14799.73     | 0.00%             | 2034-12-25      | Variable      | 3.66%                 | No            |                  2 | On Loan: No      |
| AXA SA                                                                      | AXA SA                                                                                                 | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |       82649 | NS      | $3768723.41   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Whatabrands LLC                                                             | Whatabrands LLC, 1st Lien Term Loan B                                                                  | CUSIP: 96244UAJ6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      528816 | PA      | $527863.98    | 0.01%             | 2028-08-03      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AE9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |      132000 | PA      | $120951.60    | 0.00%             | 2043-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CHEC Loan Trust                                                             | CHEC Loan Trust, Series 2004-1, Class M1                                                               | CUSIP: 162765AD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      364781 | PA      | $363327.77    | 0.00%             | 2034-07-25      | Floating      | 4.69%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J2, Class 1A5                                                      | CUSIP: 12667F6A8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2783887 | PA      | $2144321.37   | 0.02%             | 2035-04-25      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| Kinetik Holdings LP                                                         | Kinetik Holdings LP                                                                                    | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     2331000 | PA      | $2358825.15   | 0.03%             | 2030-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP                                                                     | MPLX LP                                                                                                | CUSIP: 55336VBX7<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |      410000 | PA      | $418896.26    | 0.00%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust                               | Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class D                                  | CUSIP: 10805NAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1480000 | PA      | $1512492.22   | 0.02%             | 2030-05-15      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series T                                                                              | CUSIP: 172967KM2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     4682000 | PA      | $4709661.26   | 0.05%             | 2026-08-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Infosys Ltd.                                                                | Infosys Ltd.                                                                                           | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |       26680 | NS      | $469034.40    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Powszechny Zaklad Ubezpieczen SA                                            | Powszechny Zaklad Ubezpieczen SA                                                                       | CUSIP: N/A<br>LEI: QLPCKOOKVX32FUELX240       | Long             | EC               | CORP              | PL        |       87694 | NS      | $1725496.76   | 0.02%             |  |  |  | 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        |     5629000 | PA      | $5511376.98   | 0.06%             | 2028-04-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K084, Class X3                        | CUSIP: 3137FJZC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     6000000 | PA      | $335889.60    | 0.00%             | 2028-11-25      | Variable      | 2.24%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                                        | Prime Security Services Borrower LLC                                                                   | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      531000 | PA      | $532005.18    | 0.01%             | 2026-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Knife River Corp.                                                           | Knife River Corp.                                                                                      | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3104000 | PA      | $3232040.00   | 0.04%             | 2031-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-50CB, Class 4A1                                                    | CUSIP: 12668ALL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        2102 | PA      | $2016.16      | 0.00%             | 2020-11-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| H World Group Ltd.                                                          | H World Group Ltd.                                                                                     | CUSIP: 44332N106<br>LEI: 549300Y5ML31FVN83730 | Long             | EC               | CORP              | KY        |      128670 | NS      | $6113111.70   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                                 | Acadia Healthcare Co., Inc.                                                                            | CUSIP: 00404AAN9<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     3091000 | PA      | $3054269.34   | 0.04%             | 2028-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2016-CR28, Class C                                                   | CUSIP: 12593YBM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $1900000.00   | 0.02%             | 2049-02-10      | Variable      | 4.58%                 | No            |                  2 | On Loan: No      |
| Residential Asset Securitization Trust                                      | Residential Asset Securitization Trust, Series 2005-A14, Class A1                                      | CUSIP: 45660LS83<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      122409 | PA      | $52147.79     | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Barrick Mining Corp.                                                        | Barrick Mining Corp.                                                                                   | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |      107234 | NS      | $4901585.69   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Imperial Bank of Commerce                                          | Canadian Imperial Bank of Commerce                                                                     | CUSIP: 13607QFD9<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |      247000 | PA      | $247869.55    | 0.00%             | 2028-09-08      | Variable      | 4.24%                 | No            |                  2 | On Loan: —       |
| N/A                                                                         | MSCI Emerging Markets Index                                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        1182 | NC      | $4351643.46   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| OMV AG                                                                      | OMV AG                                                                                                 | CUSIP: N/A<br>LEI: 549300V62YJ9HTLRI486       | Long             | EC               | CORP              | AT        |       60548 | NS      | $3597021.08   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte. Ltd.                                   | Seagate Data Storage Technology Pte. Ltd.                                                              | CUSIP: 81180LAS4<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     1345000 | PA      | $1373655.23   | 0.02%             | 2034-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Federative Republic of Brazil                                               | Federative Republic of Brazil                                                                          | CUSIP: 105756CJ7<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     1155000 | PA      | $1152690.00   | 0.01%             | 2054-05-13      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-1, Class 1A3             | CUSIP: 9393362F9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      312572 | PA      | $305250.58    | 0.00%             | 2035-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                                    | Cooperatieve Rabobank UA                                                                               | CUSIP: 74977RDT8<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |      552000 | PA      | $570798.95    | 0.01%             | 2030-03-05      | Variable      | 5.45%                 | Yes           |                  2 | On Loan: No      |
| M&G plc                                                                     | M&G plc                                                                                                | CUSIP: N/A<br>LEI: 254900TWUJUQ44TQJY84       | Long             | EC               | CORP              | GB        |      525058 | NS      | $2225852.02   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                                             | Sinclair Television Group, Inc.                                                                        | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |     3474000 | PA      | $3593575.08   | 0.04%             | 2033-02-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Rivers Enterprise Lender LLC                                                | Rivers Enterprise Lender LLC                                                                           | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      656000 | PA      | $665943.65    | 0.01%             | 2030-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                        | Charter Communications Operating LLC                                                                   | CUSIP: 161175CP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      610000 | PA      | $642439.35    | 0.01%             | 2034-02-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                                       | United Airlines, Inc.                                                                                  | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     3330000 | PA      | $3326896.44   | 0.04%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| HOCHTIEF AG                                                                 | HOCHTIEF AG                                                                                            | CUSIP: N/A<br>LEI: 529900Y25S8NZIYTT924       | Long             | EC               | CORP              | DE        |        3874 | NS      | $1624542.16   | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| Option One Mortgage Loan Trust                                              | Option One Mortgage Loan Trust, Series 2004-3, Class M2                                                | CUSIP: 68389FFU3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      243889 | PA      | $265515.17    | 0.00%             | 2034-11-25      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                 | Goldman Sachs International, ELN, 05.70%, 02/06/2026                                                   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | Long             | SN               | CORP              | GB        |       64491 | PA      | $5130707.31   | 0.06%             | 2026-02-06      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    13592000 | PA      | $15896926.47  | 0.18%             | 2033-11-13      | Variable      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Trane Technologies plc                                                      | Trane Technologies plc                                                                                 | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |       67365 | NS      | $28332371.70  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: 225313AR6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |     9970000 | PA      | $10195561.28  | 0.12%             | 2034-09-23      | Variable      | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Lamb Weston Holdings, Inc.                                                  | Lamb Weston Holdings, Inc.                                                                             | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     6455000 | PA      | $6231627.31   | 0.07%             | 2030-01-31      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                                        | NOVA Chemicals Corp.                                                                                   | CUSIP: 66977WAU3<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |     5814000 | PA      | $6200218.21   | 0.07%             | 2030-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkiye (The)                                                   | Republic of Turkiye (The)                                                                              | CUSIP: 900123BJ8<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      570000 | PA      | $504592.50    | 0.01%             | 2041-01-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ROCK Trust                                                                  | ROCK Trust, Series 2024-CNTR, Class E                                                                  | CUSIP: 74970WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     8925000 | PA      | $9487994.36   | 0.11%             | 2041-11-13      | Fixed         | 8.82%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                                  | Avis Budget Car Rental LLC                                                                             | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2078000 | PA      | $2137699.13   | 0.02%             | 2032-06-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2007-1, Class 1A7             | CUSIP: 93935PAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2147473 | PA      | $1653795.95   | 0.02%             | 2037-02-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2006-A7, Class 2A4                                                     | CUSIP: 46629DAR6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      263727 | PA      | $211622.39    | 0.00%             | 2037-01-25      | Variable      | 4.39%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                                        | BBCMS Mortgage Trust, Series 2017-C1, Class D                                                          | CUSIP: 07332VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2887000 | PA      | $2087326.12   | 0.02%             | 2050-02-15      | Variable      | 3.55%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                                             | CUSIP: 45174HBL0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     4810363 | PA      | $3990677.14   | 0.05%             | 2030-05-01      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: —       |
| Residential Asset Securitization Trust                                      | Residential Asset Securitization Trust, Series 2006-A8, Class 3A1                                      | CUSIP: 761119AP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2568807 | PA      | $1054168.88   | 0.01%             | 2036-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                    | Celanese US Holdings LLC                                                                               | CUSIP: 15089QBC7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     1641000 | PA      | $1678536.23   | 0.02%             | 2031-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                                   | Williams Cos., Inc. (The)                                                                              | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |       70798 | NS      | $4761873.48   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN16, Class D                                                                        | CUSIP: 065405AL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2500000 | PA      | $1949101.25   | 0.02%             | 2052-02-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Transnet                                                                    | Transnet                                                                                               | CUSIP: 89378TAD5<br>LEI: 378900B07CD6F01EA796 | Long             | DBT              | NUSS              | ZA        |     1000000 | PA      | $1055000.00   | 0.01%             | 2028-02-06      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Carpenter Technology Corp.                                                  | Carpenter Technology Corp.                                                                             | CUSIP: 144285AN3<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |      711000 | PA      | $721502.18    | 0.01%             | 2034-03-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418D3G5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      472568 | PA      | $385626.20    | 0.00%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Bombardier, Inc.                                                            | Bombardier, Inc.                                                                                       | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     1497000 | PA      | $1604285.50   | 0.02%             | 2030-11-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| NCR Atleos LLC                                                              | NCR Atleos LLC, 1st Lien Term Loan B                                                                   | CUSIP: 63001PAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      157867 | PA      | $155696.00    | 0.00%             | 2029-04-16      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |      910000 | PA      | $886704.00    | 0.01%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Novelis Corp.                                                               | Novelis Corp.                                                                                          | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     4460000 | PA      | $4320691.90   | 0.05%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR16, Class 1A1                             | CUSIP: 92922F6W3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      239941 | PA      | $219862.16    | 0.00%             | 2035-12-25      | Variable      | 4.33%                 | No            |                  2 | On Loan: No      |
| EW Scripps Co. (The)                                                        | EW Scripps Co. (The), 1st Lien Term Loan B-2                                                           | CUSIP: 26928BAQ2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      616170 | PA      | $621050.29    | 0.01%             | 2028-06-30      | Variable      | 9.54%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2020-B21, Class E                                                     | CUSIP: 08163LBE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2500000 | PA      | $1331277.25   | 0.02%             | 2053-12-17      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                  | Prudential Financial, Inc.                                                                             | CUSIP: 744320BP6<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |     2743000 | PA      | $2887868.80   | 0.03%             | 2054-03-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                     | Bath & Body Works, Inc.                                                                                | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |      997000 | PA      | $1008313.96   | 0.01%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| China Merchants Bank Co. Ltd.                                               | China Merchants Bank Co. Ltd., Class H                                                                 | CUSIP: N/A<br>LEI: 549300MKO5B60FFIHF58       | Long             | EC               | CORP              | CN        |      903000 | NS      | $5516966.03   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: N/A<br>LEI: 529900LOP29R5WKHOD86       | Long             | DBT              | NUSS              | PK        |     2567000 | PA      | $2577268.00   | 0.03%             | 2051-04-08      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Haidilao International Holding Ltd.                                         | Haidilao International Holding Ltd.                                                                    | CUSIP: N/A<br>LEI: 3003009Q8GV4VNKZWI24       | Long             | EC               | CORP              | KY        |     1164156 | NS      | $2373515.02   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MGM Resorts International                                                   | MGM Resorts International                                                                              | CUSIP: 552953CJ8<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     2976000 | PA      | $3046560.96   | 0.04%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |     4450000 | PA      | $4505625.00   | 0.05%             | 2032-01-15      | Fixed         | 7.05%                 | Yes           |                  2 | On Loan: No      |
| Great-West Lifeco, Inc.                                                     | Great-West Lifeco, Inc.                                                                                | CUSIP: 39138C106<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |       84181 | NS      | $3940584.54   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo Funding LLC                                                 | Intesa Sanpaolo Funding LLC                                                                            | CUSIP: 4611K1BP9<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |      478000 | PA      | $476697.83    | 0.01%             | 2026-02-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Nasdaq Equity Premium Income ETF                                   | JPMorgan Nasdaq Equity Premium Income ETF                                                              | CUSIP: 46654Q203<br>LEI: 549300QY7QH8W9EILZ23 | Long             |  | RF                | US        |    14246711 | NS      | $846682034.73 | 9.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Vehicle Financing III LLC                                             | Hertz Vehicle Financing LLC, Series 2025-2A, Class D                                                   | CUSIP: 42806MDA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      250000 | PA      | $257369.68    | 0.00%             | 2031-09-25      | Fixed         | 8.34%                 | Yes           |                  2 | On Loan: No      |
| TP ICAP Group plc                                                           | TP ICAP Group plc                                                                                      | CUSIP: N/A<br>LEI: 2138006YAA7IRVKKGE63       | Long             | EC               | CORP              | JE        |      335513 | NS      | $1170407.85   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2017-CD3, Class A4                                                           | CUSIP: 12515GAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3800000 | PA      | $3711416.30   | 0.04%             | 2050-02-10      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 13.00%, 02/06/2026                                                    | CUSIP: 61778U527<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       51309 | PA      | $7405134.42   | 0.09%             | 2026-02-06      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     5502000 | PA      | $5602543.82   | 0.06%             | 2031-02-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Incora Intermediate LLC                                                     | Incora Intermediate LLC                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       39990 | NS      | $432691.80    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Charter Communications Operating LLC                                        | Charter Communications Operating LLC                                                                   | CUSIP: 161175CR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      550000 | PA      | $577736.73    | 0.01%             | 2034-06-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: 254900EHU7Q8FGVPI369       | Long             | DBT              | NUSS              | DO        |      500000 | PA      | $519500.00    | 0.01%             | 2045-01-27      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Residential Asset Securitization Trust                                      | Residential Asset Securitization Trust, Series 2005-A8CB, Class A11                                    | CUSIP: 45660LSZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1241723 | PA      | $675549.57    | 0.01%             | 2035-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Weyerhaeuser Co.                                                            | Weyerhaeuser Co.                                                                                       | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |      108296 | NS      | $2791870.88   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RealPage, Inc.                                                              | RealPage, Inc., 1st Lien Term Loan                                                                     | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |      421913 | PA      | $416263.46    | 0.00%             | 2028-04-24      | Variable      | 6.93%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                     | Talen Energy Supply LLC, 1st Lien Term Loan B                                                          | CUSIP: 87422LBA7<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |      382500 | PA      | $382213.13    | 0.00%             | 2032-11-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                                             | Telefonaktiebolaget LM Ericsson, Class B                                                               | CUSIP: N/A<br>LEI: 549300W9JLPW15XIFM52       | Long             | EC               | CORP              | SE        |      227149 | NS      | $2460061.18   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| SBA Small Business Investment Cos.                                          | SBA Small Business Investment Cos., Series 2023-10A, Class 1                                           | CUSIP: 83162CS79<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1128519 | PA      | $1149669.10   | 0.01%             | 2033-03-10      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Forvia SE                                                                   | Forvia SE                                                                                              | CUSIP: 31209DAC9<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |      766000 | PA      | $785411.21    | 0.01%             | 2033-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Lebanese Republic                                                           | Lebanese Republic                                                                                      | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |     9774000 | PA      | $2825236.28   | 0.03%             | 2026-11-27      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| NRM FNT1 Excess LLC                                                         | NRM FNT1 Excess LLC, Series 2024-FNT1, Class A                                                         | CUSIP: 62956YAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2062628 | PA      | $2099950.53   | 0.02%             | 2031-11-25      | Variable      | 7.40%                 | Yes           |                  2 | On Loan: No      |
| Bank Central Asia Tbk. PT                                                   | Bank Central Asia Tbk. PT                                                                              | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |     8567300 | NS      | $3785456.68   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2025-78                                                                                   | CUSIP: 38381MPY0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    74769099 | PA      | $5493195.95   | 0.06%             | 2063-11-16      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Amundi SA                                                                   | Amundi SA                                                                                              | CUSIP: N/A<br>LEI: 96950010FL2T1TJKR531       | Long             | EC               | CORP              | FR        |       14890 | NS      | $1323857.46   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325EQ4<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     3590000 | PA      | $3794630.00   | 0.04%             | 2054-11-07      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| Fuyao Glass Industry Group Co. Ltd.                                         | Fuyao Glass Industry Group Co. Ltd., Class H                                                           | CUSIP: N/A<br>LEI: 549300AS5CSLWETN0P64       | Long             | EC               | CORP              | CN        |      589287 | NS      | $5051082.88   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Eskom Holdings                                                              | Eskom Holdings                                                                                         | CUSIP: N/A<br>LEI: 3789001900ED06F65111       | Long             | DBT              | CORP              | ZA        |     2200000 | PA      | $2354000.00   | 0.03%             | 2028-08-10      | Fixed         | 8.45%                 | Yes           |                  2 | On Loan: No      |
| Hitachi Ltd.                                                                | Hitachi Ltd.                                                                                           | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |      175600 | NS      | $6093343.87   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 6174468X0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |       18000 | PA      | $15822.57     | 0.00%             | 2032-04-28      | Variable      | 1.93%                 | No            |                  2 | On Loan: No      |
| Multi-Family Connecticut Avenue Securities Trust                            | Multi-Family Connecticut Avenue Securities Trust, Series 2019-01, Class M10                            | CUSIP: 62547NAB5<br>LEI: 549300HG8ZEWVWVSN227 | Long             | ABS-MBS          | CORP              | US        |     3503845 | PA      | $3558969.29   | 0.04%             | 2049-10-25      | Floating      | 7.06%                 | Yes           |                  2 | On Loan: No      |
| LABL, Inc.                                                                  | LABL, Inc., 1st Lien Term Loan                                                                         | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |     3878112 | PA      | $1763067.27   | 0.02%             | 2028-10-30      | Variable      | 8.94%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The)                                                                              | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |       63357 | NS      | $4736711.05   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd.                                                              | HDFC Bank Ltd.                                                                                         | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |      800608 | NS      | $8095168.01   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| CoreWeave, Inc.                                                             | CoreWeave, Inc.                                                                                        | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     3729000 | PA      | $3625550.83   | 0.04%             | 2031-02-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander SA                                                          | Banco Santander SA                                                                                     | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |      590131 | NS      | $7534833.35   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                   | Vistra Operations Co. LLC                                                                              | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     5404000 | PA      | $5718085.88   | 0.07%             | 2031-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Enel SpA                                                                    | Enel SpA                                                                                               | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |      779775 | NS      | $8615392.33   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 18.80%, 02/27/2026                                                    | CUSIP: 61780F336<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |        3909 | PA      | $4449362.50   | 0.05%             | 2026-02-27      | Fixed         | 18.80%                | No            |                  2 | On Loan: No      |
| Venator Materials plc                                                       | Venator Materials plc                                                                                  | CUSIP: N/A<br>LEI: 549300WFXC4YL5IHX316       | Long             | EC               | CORP              | GB        |        4415 | NS      | $55187.50     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Endo Finance Holdings LP                                                    | Endo Finance Holdings LP, 1st Lien Term Loan                                                           | CUSIP: 29280UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      593741 | PA      | $593924.64    | 0.01%             | 2031-04-23      | Variable      | 7.47%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |     2900000 | PA      | $2361760.00   | 0.03%             | 2060-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                       | NextEra Energy Capital Holdings, Inc.                                                                  | CUSIP: 65339KDJ6<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |      990000 | PA      | $1020755.95   | 0.01%             | 2030-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Eiffage SA                                                                  | Eiffage SA                                                                                             | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |       12265 | NS      | $1818989.91   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                                           | EMRLD Borrower LP, 1st Lien Term Loan                                                                  | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |     3023964 | PA      | $3018309.39   | 0.03%             | 2031-08-04      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-NP5, Class CERT                                 | CUSIP: 52608RAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      200000 | PA      | $1386519.84   | 0.02%             | 2037-06-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| TransDigm, Inc.                                                             | TransDigm, Inc., 1st Lien Term Loan J                                                                  | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |      440075 | PA      | $439784.07    | 0.01%             | 2031-02-28      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Realtek Semiconductor Corp.                                                 | Realtek Semiconductor Corp.                                                                            | CUSIP: N/A<br>LEI: 5299002E7F36O00MYY75       | Long             | EC               | CORP              | TW        |      381986 | NS      | $5844307.27   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                                                            | Novo Nordisk A/S, Class B                                                                              | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |       33944 | NS      | $2015569.09   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                     | Hyundai Capital America                                                                                | CUSIP: 44891ADL8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      460000 | PA      | $467267.37    | 0.01%             | 2028-01-07      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Vodafone Group plc                                                          | Vodafone Group plc                                                                                     | CUSIP: 92857WBW9<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |     6106000 | PA      | $5745847.36   | 0.07%             | 2081-06-04      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Nomura Asset Acceptance Corp. Alternative Loan Trust                        | Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2005-WF1, Class 2A5                       | CUSIP: 65535VKX5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         654 | PA      | $660.51       | 0.00%             | 2035-03-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| Upstart Pass-Through Trust                                                  | Upstart Pass-Through Trust, Series 2022-PT3, Class A                                                   | CUSIP: 91681DAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      220091 | PA      | $218554.75    | 0.00%             | 2030-04-20      | Variable      | 19.10%                | Yes           |                  3 | On Loan: No      |
| Enpro, Inc.                                                                 | Enpro, Inc.                                                                                            | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |      926000 | PA      | $952177.09    | 0.01%             | 2033-06-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                                       | WMG Acquisition Corp.                                                                                  | CUSIP: 92933BAT1<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |     1861000 | PA      | $1790781.68   | 0.02%             | 2029-12-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Regency Centers Corp.                                                       | Regency Centers Corp.                                                                                  | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |       53011 | NS      | $3862911.57   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |      876000 | PA      | $702101.30    | 0.01%             | 2028-05-15      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2005-31, Class 2A1                                             | CUSIP: 126694UL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      414700 | PA      | $375222.80    | 0.00%             | 2036-01-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 01309QAE8<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |     3147000 | PA      | $3143811.33   | 0.04%             | 2032-03-31      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Imperial Brands plc                                                         | Imperial Brands plc                                                                                    | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |        6084 | NS      | $256244.57    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lebanese Republic                                                           | Lebanese Republic                                                                                      | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |     4485000 | PA      | $1297174.13   | 0.02%             | 2024-04-22      | Fixed         | 6.65%                 | Yes           |                  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        |    20644911 | PA      | $5130260.32   | 0.06%             | 2026-06-30      | Variable      | 5.67%                 | No            |                  3 | On Loan: No      |
| Republic of Montenegro                                                      | Republic of Montenegro                                                                                 | CUSIP: N/A<br>LEI: 747800V014106FYLL014       | Long             | DBT              | NUSS              | ME        |      700000 | PA      | $744401.00    | 0.01%             | 2031-03-12      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Altria Group, Inc.                                                          | Altria Group, Inc.                                                                                     | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |       70366 | NS      | $4361988.34   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp.                                                                 | Terex Corp.                                                                                            | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |     5949000 | PA      | $5930181.53   | 0.07%             | 2029-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Synaptics, Inc.                                                             | Synaptics, Inc.                                                                                        | CUSIP: 87157DAG4<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | DBT              | CORP              | US        |     2089000 | PA      | $2023908.64   | 0.02%             | 2029-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| BX Mortgage Trust                                                           | BX Mortgage Trust, Series 2025-BIO3, Class D                                                           | CUSIP: 123911AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      475000 | PA      | $479156.20    | 0.01%             | 2042-02-10      | Variable      | 6.96%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                                               | Citigroup Mortgage Loan Trust, Series 2006-AR3, Class 1A1A                                             | CUSIP: 17306SAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      725083 | PA      | $683443.62    | 0.01%             | 2036-06-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                | MASTR Alternative Loan Trust, Series 2005-3, Class 1A1                                                 | CUSIP: 576434L93<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       53861 | PA      | $49309.79     | 0.00%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies CLO Ltd.                                   | Carlyle Global Market Strategies CLO Ltd., Series 2016-1A, Class CR3                                   | CUSIP: 14312HBL9<br>LEI: 549300N3CJKPCWZ7KX23 | Long             | ABS-CBDO         | CORP              | KY        |      899000 | PA      | $901652.05    | 0.01%             | 2034-04-20      | Floating      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust                               | Bridgecrest Lending Auto Securitization Trust, Series 2025-2, Class D                                  | CUSIP: 10807HAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      510000 | PA      | $519322.60    | 0.01%             | 2031-03-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd.                                                               | Voya CLO Ltd., Series 2022-1A, Class BR                                                                | CUSIP: 92918UAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1180000 | PA      | $1180413.00   | 0.01%             | 2035-04-20      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| Konecranes OYJ                                                              | Konecranes OYJ                                                                                         | CUSIP: N/A<br>LEI: 549300EF0CDEQZBMA096       | Long             | EC               | CORP              | FI        |       20737 | NS      | $2442035.29   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Calpine Construction Finance Co. LP                                         | Calpine Construction Finance Co. LP, 1st Lien Term Loan                                                | CUSIP: 13134NAK7<br>LEI: V0Q3DOB0FIB2XI1KWU77 | Long             | LON              | CORP              | US        |      562247 | PA      | $562601.20    | 0.01%             | 2030-07-31      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Republic of El Salvador                                                     | Republic of El Salvador                                                                                | CUSIP: N/A<br>LEI: 529900AKDMUSFSDOM949       | Long             | DBT              | NUSS              | SV        |     1119000 | PA      | $1197889.50   | 0.01%             | 2029-02-28      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Venture Corp. Ltd.                                                          | Venture Corp. Ltd.                                                                                     | CUSIP: N/A<br>LEI: 254900B1NLZC3J1MAE72       | Long             | EC               | CORP              | SG        |       59600 | NS      | $765330.97    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CSMC Mortgage-Backed Trust                                                  | CSMC Mortgage-Backed Trust, Series 2006-8, Class 5A1                                                   | CUSIP: 22942MBF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       18380 | PA      | $16812.33     | 0.00%             | 2026-10-25      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| Ukraine                                                                     | Ukraine Government Bond                                                                                | CUSIP: 903724CB6<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     2450000 | PA      | $1509200.00   | 0.02%             | 2035-02-01      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: 035198AJ9<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     1600000 | PA      | $1602222.08   | 0.02%             | 2035-10-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                                     | FHLMC STACR REMIC Trust, Series 2024-DNA2, Class M1                                                    | CUSIP: 35564NCX9<br>LEI: 529900GRKKKHILZX4347 | Long             | ABS-MBS          | CORP              | US        |     2792132 | PA      | $2799112.03   | 0.03%             | 2044-05-25      | Floating      | 4.90%                 | Yes           |                  2 | On Loan: No      |
| QXO Building Products, Inc.                                                 | QXO Building Products, Inc., 1st Lien Term Loan B                                                      | CUSIP: 07368RAM3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1066737 | PA      | $1067760.85   | 0.01%             | 2032-04-30      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Power Assets Holdings Ltd.                                                  | Power Assets Holdings Ltd.                                                                             | CUSIP: N/A<br>LEI: 254900JOWYUW1ZX4DF47       | Long             | EC               | CORP              | HK        |      284500 | NS      | $2206795.38   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397H48<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     1140000 | PA      | $1167140.40   | 0.01%             | 2030-09-05      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Gold Fields Ltd.                                                            | Gold Fields Ltd.                                                                                       | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      106215 | NS      | $5323495.80   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Software, Inc.                                                       | Rocket Software, Inc., 1st Lien Term Loan                                                              | CUSIP: 77313DAW1<br>LEI: 549300PVG26ISP5X1556 | Long             | LON              | CORP              | US        |     2927402 | PA      | $2790194.40   | 0.03%             | 2028-11-28      | Variable      | 7.42%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                                  | Avis Budget Car Rental LLC                                                                             | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3781000 | PA      | $3913278.29   | 0.05%             | 2030-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: —       |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |      200000 | PA      | $204688.00    | 0.00%             | 2029-09-20      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Banco de Sabadell SA                                                        | Banco de Sabadell SA                                                                                   | CUSIP: N/A<br>LEI: SI5RG2M0WQQLZCXKRM20       | Long             | EC               | CORP              | ES        |      333440 | NS      | $1308013.59   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada, ELN, 11.00%, 02/06/2026                                                          | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Long             | SN               | CORP              | CA        |       11674 | PA      | $4261750.65   | 0.05%             | 2026-02-06      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                                                  | Garda World Security Corp.                                                                             | CUSIP: 36485MAM1<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     1547000 | PA      | $1579893.86   | 0.02%             | 2028-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Encompass Health Corp.                                                      | Encompass Health Corp.                                                                                 | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |     4515000 | PA      | $4419424.67   | 0.05%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                                   | Toyota Motor Credit Corp.                                                                              | CUSIP: 89236TNR2<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |       78000 | PA      | $78423.23     | 0.00%             | 2028-09-05      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Gjensidige Forsikring ASA                                                   | Gjensidige Forsikring ASA                                                                              | CUSIP: N/A<br>LEI: 5967007LIEEXZX6FAO47       | Long             | EC               | CORP              | NO        |       37828 | NS      | $1076681.93   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MASTR Asset-Backed Securities Trust                                         | MASTR Asset-Backed Securities Trust, Series 2004-OPT2, Class M2                                        | CUSIP: 57643LEX0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        5605 | PA      | $5580.67      | 0.00%             | 2034-09-25      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                                    | Mizuho Markets Cayman LP, ELN, 15.60%, 02/13/2026                                                      | CUSIP: 60701B887<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |       26887 | PA      | $4776272.75   | 0.06%             | 2026-02-13      | Fixed         | 15.60%                | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co. Ltd.                                            | Shinhan Financial Group Co. Ltd.                                                                       | CUSIP: N/A<br>LEI: 988400EB8A6G49E5KO54       | Long             | EC               | CORP              | KR        |       99571 | NS      | $5819301.28   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Delek Group Ltd.                                                            | Delek Group Ltd.                                                                                       | CUSIP: N/A<br>LEI: 213800CYKA4XE2HZZB09       | Long             | EC               | CORP              | IL        |        3115 | NS      | $876618.79    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: 25714PFF0<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     3980000 | PA      | $3972040.00   | 0.05%             | 2035-10-28      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Crown Finance US, Inc.                                                      | Crown Finance US, Inc., 1st Lien Term Loan                                                             | CUSIP: 22834KAV3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     2961667 | PA      | $2881346.83   | 0.03%             | 2031-12-02      | Variable      | 8.19%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83370RAE8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     3320000 | PA      | $3542330.44   | 0.04%             | 2029-11-21      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     4600000 | PA      | $4779473.60   | 0.06%             | 2030-05-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corp.                                                      | General Dynamics Corp.                                                                                 | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |        3001 | NS      | $1053621.09   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Imola Merger Corp.                                                          | Imola Merger Corp.                                                                                     | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    10299000 | PA      | $10133463.14  | 0.12%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  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        |      587648 | PA      | $587019.24    | 0.01%             | 2031-01-30      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95000U3J0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      556000 | PA      | $572516.60    | 0.01%             | 2030-01-23      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2004-AR11, Class A                               | CUSIP: 92922FYA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      297336 | PA      | $277410.96    | 0.00%             | 2034-10-25      | Variable      | 5.97%                 | No            |                  2 | On Loan: No      |
| EQT Corp.                                                                   | EQT Corp.                                                                                              | CUSIP: 26884LBB4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     2365000 | PA      | $2602981.89   | 0.03%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DOC DR LLC                                                                  | DOC DR LLC                                                                                             | CUSIP: 71951QAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       13000 | PA      | $12976.63     | 0.00%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc., Series B                                                                        | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     1144000 | PA      | $1237078.13   | 0.01%             | 2054-06-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                        | American Tower Corp.                                                                                   | CUSIP: 03027XBJ8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |       74000 | PA      | $70386.54     | 0.00%             | 2028-01-31      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The)                                                               | CUSIP: 693475BW4<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |      673000 | PA      | $706023.38    | 0.01%             | 2035-01-22      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| Wal-Mart de Mexico SAB de CV                                                | Wal-Mart de Mexico SAB de CV                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |     2164099 | NS      | $6867757.53   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO Group, Inc. (The)                                                       | GEO Group, Inc. (The)                                                                                  | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |     3023000 | PA      | $3161250.13   | 0.04%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                                     | Volkswagen Group of America Finance LLC                                                                | CUSIP: 928668CD2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |      200000 | PA      | $200092.55    | 0.00%             | 2026-03-20      | Floating      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Petroleos del Peru SA                                                       | Petroleos del Peru SA                                                                                  | CUSIP: 716564AA7<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | NUSS              | PE        |      500000 | PA      | $377562.50    | 0.00%             | 2032-06-19      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                              | 1011778 BC ULC                                                                                         | CUSIP: 68245XAP4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      891000 | PA      | $858678.08    | 0.01%             | 2029-02-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Valaris Ltd.                                                                | Valaris Ltd.                                                                                           | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |      848000 | PA      | $886083.68    | 0.01%             | 2030-04-30      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Mori Hills REIT Investment Corp.                                            | Mori Hills REIT Investment Corp.                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |          84 | NS      | $78811.06     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group, Inc.                                                | Mizuho Financial Group, Inc.                                                                           | CUSIP: 60687YDF3<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |      267000 | PA      | $276365.21    | 0.00%             | 2030-07-10      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     2207000 | PA      | $2206370.78   | 0.03%             | 2028-03-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| TransDigm Group, Inc.                                                       | TransDigm Group, Inc.                                                                                  | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3018 | NS      | $4308315.72   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Wistron Corp.                                                               | Wistron Corp.                                                                                          | CUSIP: N/A<br>LEI: 254900DIEONKUALBFM06       | Long             | EC               | CORP              | TW        |      662827 | NS      | $2712552.09   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Amkor Technology, Inc.                                                      | Amkor Technology, Inc.                                                                                 | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |     1463000 | PA      | $1490949.15   | 0.02%             | 2033-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                                                  | Garda World Security Corp.                                                                             | CUSIP: 36485MAQ2<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     1560000 | PA      | $1599098.03   | 0.02%             | 2031-01-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                        | LHOME Mortgage Trust, Series 2024-RTL2, Class A1                                                       | CUSIP: 50205JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3325000 | PA      | $3355485.26   | 0.04%             | 2029-03-25      | Variable      | 7.13%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2019-R04, Class 2B1                                        | CUSIP: 20753TAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2007748 | PA      | $2038909.51   | 0.02%             | 2039-06-25      | Floating      | 9.06%                 | Yes           |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                                        | Owens-Brockway Glass Container, Inc.                                                                   | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |     2113000 | PA      | $2119081.21   | 0.02%             | 2027-05-13      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Cosmo Energy Holdings Co. Ltd.                                              | Cosmo Energy Holdings Co. Ltd.                                                                         | CUSIP: N/A<br>LEI: 353800Y4GZ7KR5X7L150       | Long             | EC               | CORP              | JP        |       25700 | NS      | $770669.48    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Ventas, Inc.                                                                | Ventas, Inc.                                                                                           | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |       42736 | NS      | $3319305.12   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: 254900EHU7Q8FGVPI369       | Long             | DBT              | NUSS              | DO        |     1950000 | PA      | $1949756.25   | 0.02%             | 2048-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                               | Asbury Automotive Group, Inc.                                                                          | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |      402000 | PA      | $400611.21    | 0.00%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                                                   | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     3513000 | PA      | $3732692.48   | 0.04%             | 2033-03-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     3000000 | PA      | $2998251.00   | 0.03%             | 2027-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Tesco plc                                                                   | Tesco plc                                                                                              | CUSIP: N/A<br>LEI: 2138002P5RNKC5W2JZ46       | Long             | EC               | CORP              | GB        |     1014548 | NS      | $5903453.27   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | Clarios Global LP, 1st Lien Term Loan                                                                  | CUSIP: C8000CAP8<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |      224438 | PA      | $224507.08    | 0.00%             | 2032-01-28      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| FANUC Corp.                                                                 | FANUC Corp.                                                                                            | CUSIP: N/A<br>LEI: 529900QTSW745LOKW705       | Long             | EC               | CORP              | JP        |       47500 | NS      | $1907343.39   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                                                                | Iberdrola SA                                                                                           | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |       92520 | NS      | $2080104.16   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-R1, Class B1                                                   | CUSIP: 92538BAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $1864386.40   | 0.02%             | 2063-10-25      | Variable      | 3.19%                 | Yes           |                  2 | On Loan: No      |
| Randstad NV                                                                 | Randstad NV                                                                                            | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |       14218 | NS      | $508813.12    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     3022000 | PA      | $3031002.54   | 0.04%             | 2029-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| PMT Loan Trust                                                              | PMT Loan Trust, Series 2025-INV5, Class A2                                                             | CUSIP: 729907AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      742435 | PA      | $755736.30    | 0.01%             | 2056-05-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Gabonese Republic                                                           | Gabonese Republic                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | GA        |      900000 | PA      | $845442.00    | 0.01%             | 2029-02-18      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                                         | Sirius XM Radio LLC                                                                                    | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    20882000 | PA      | $20397948.14  | 0.24%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP                                                           | Genesis Energy LP                                                                                      | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2410000 | PA      | $2536305.69   | 0.03%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Consolidated Edison, Inc.                                                   | Consolidated Edison, Inc.                                                                              | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |       37900 | NS      | $4041277.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp                                                                                             | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     8601000 | PA      | $8481311.92   | 0.10%             | 2027-01-15      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                                 | Acadia Healthcare Co., Inc.                                                                            | CUSIP: 00404AAP4<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     1443000 | PA      | $1385369.03   | 0.02%             | 2029-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 78017DAE8<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |      457000 | PA      | $457506.56    | 0.01%             | 2026-08-03      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| Coherent Corp.                                                              | Coherent Corp.                                                                                         | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |     9100000 | PA      | $9062367.86   | 0.10%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                          | Renaissance Home Equity Loan Trust, Series 2003-4, Class M1                                            | CUSIP: 759950BT4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1057852 | PA      | $965856.36    | 0.01%             | 2034-03-25      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                 | Caesars Entertainment, Inc.                                                                            | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     2400000 | PA      | $2304869.28   | 0.03%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      948000 | PA      | $850939.66    | 0.01%             | 2032-10-20      | Variable      | 2.51%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                                             | Danske Bank A/S                                                                                        | CUSIP: 23636ABH3<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |      274000 | PA      | $284948.47    | 0.00%             | 2030-03-01      | Variable      | 5.71%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                         | EURO STOXX 50 Index                                                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |       -3166 | NC      | $-7248836.75  | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| XPO, Inc.                                                                   | XPO, Inc.                                                                                              | CUSIP: 98379KAA0<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |     1845000 | PA      | $1876964.63   | 0.02%             | 2028-06-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Truist Financial Corp.                                                      | Truist Financial Corp., Series R                                                                       | CUSIP: 89832Q695<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |       99288 | NS      | $1948030.56   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-4, Class 2A5                               | CUSIP: 225458PS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1701374 | PA      | $1083902.40   | 0.01%             | 2035-06-25      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 14.70%, 02/20/2026                                                    | CUSIP: 61780F161<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       29992 | PA      | $4571123.47   | 0.05%             | 2026-02-20      | Fixed         | 14.70%                | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K734, Class X3                        | CUSIP: 3137FLN67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    11615000 | PA      | $31834.39     | 0.00%             | 2026-07-25      | Variable      | 2.23%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The)                                                                            | CUSIP: 89114TZD7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |      261000 | PA      | $258711.59    | 0.00%             | 2026-06-03      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                          | Southern Co. (The)                                                                                     | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |       47493 | NS      | $4241599.83   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EMRLD Borrower LP                                                           | EMRLD Borrower LP                                                                                      | CUSIP: 26873CAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1222000 | PA      | $1282072.30   | 0.01%             | 2031-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                                       | WR Grace Holdings LLC                                                                                  | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     2671000 | PA      | $2552619.41   | 0.03%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                                | Tallgrass Energy Partners LP                                                                           | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3738000 | PA      | $3793228.95   | 0.04%             | 2030-12-31      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Boise Cascade Co.                                                           | Boise Cascade Co.                                                                                      | CUSIP: 09739DAD2<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | DBT              | CORP              | US        |      852000 | PA      | $849262.27    | 0.01%             | 2030-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| Axia Energia                                                                | Axia Energia                                                                                           | CUSIP: N/A<br>LEI: 254900I8KYDELP4B4Z08       | Long             | EC               | CORP              | BR        |      392626 | NS      | $4050290.35   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyushu Railway Co.                                                          | Kyushu Railway Co.                                                                                     | CUSIP: N/A<br>LEI: 5299002CCI6HLWAN3K50       | Long             | EC               | CORP              | JP        |       75500 | NS      | $1925064.62   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2017-GS5, Class D                                                 | CUSIP: 36252HAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2900000 | PA      | $371430.84    | 0.00%             | 2050-03-10      | Variable      | 3.51%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2015-NXS1, Class E                                       | CUSIP: 94989HBR0<br>LEI: 5493002S7XBI8CVRR075 | Long             | ABS-MBS          | CORP              | US        |     1500000 | PA      | $1339365.00   | 0.02%             | 2048-05-15      | Variable      | 2.88%                 | Yes           |                  2 | On Loan: No      |
| DCert Buyer, Inc.                                                           | DCert Buyer, Inc., 2nd Lien Term Loan                                                                  | CUSIP: 24022KAJ8<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |      145000 | PA      | $129050.00    | 0.00%             | 2029-02-16      | Variable      | 10.67%                | No            |                  2 | On Loan: No      |
| Kimco Realty Corp.                                                          | Kimco Realty Corp.                                                                                     | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |      197530 | NS      | $4163932.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc.                                                                                         | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |      575000 | PA      | $657988.03    | 0.01%             | 2084-01-15      | Variable      | 8.50%                 | No            |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                                  | Builders FirstSource, Inc.                                                                             | CUSIP: 12008RAR8<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     3340000 | PA      | $3442183.96   | 0.04%             | 2032-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The), Series W                                                     | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     1701000 | PA      | $1756854.04   | 0.02%             | 2030-03-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2360000 | PA      | $2155589.14   | 0.02%             | 2032-02-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KG01, Class B                                                        | CUSIP: 30298CAS0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     4765000 | PA      | $4382507.73   | 0.05%             | 2029-04-25      | Variable      | 4.28%                 | Yes           |                  2 | On Loan: No      |
| Commerzbank AG                                                              | Commerzbank AG                                                                                         | CUSIP: N/A<br>LEI: 851WYGNLUQLFZBSYGB56       | Long             | EC               | CORP              | DE        |       59099 | NS      | $2429248.16   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2023-KF149, Class CS                                                      | CUSIP: 35709HAE2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     6833366 | PA      | $6967316.58   | 0.08%             | 2032-12-25      | Floating      | 9.94%                 | Yes           |                  2 | On Loan: No      |
| Madison Park Funding XLIX Ltd.                                              | Madison Park Funding Ltd., Series 2021-49A, Class B1R                                                  | CUSIP: 55820VAN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      900000 | PA      | $901350.90    | 0.01%             | 2034-10-19      | Floating      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Snam SpA                                                                    | Snam SpA                                                                                               | CUSIP: N/A<br>LEI: 8156002278562044AF79       | Long             | EC               | CORP              | IT        |      261671 | NS      | $1798383.19   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HU7<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     8291160 | PA      | $6674383.80   | 0.08%             | 2038-01-09      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                         | Fifth Third Bancorp                                                                                    | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |      301000 | PA      | $312501.28    | 0.00%             | 2028-10-27      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| Madison Safety & Flow LLC                                                   | Madison Safety & Flow LLC, 1st Lien Term Loan B                                                        | CUSIP: 55822DAN1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      467477 | PA      | $468178.62    | 0.01%             | 2031-09-26      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)                                                | Scotts Miracle-Gro Co. (The)                                                                           | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     4547000 | PA      | $4286550.57   | 0.05%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-86CB, Class A4                                                     | CUSIP: 12668BFD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      254955 | PA      | $140501.29    | 0.00%             | 2036-02-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Diamondback Energy, Inc.                                                    | Diamondback Energy, Inc.                                                                               | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |       22358 | NS      | $3665594.10   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Electric Power Development Co. Ltd.                                         | Electric Power Development Co. Ltd.                                                                    | CUSIP: N/A<br>LEI: 549300KMHPUAQI8VEH90       | Long             | EC               | CORP              | JP        |       98700 | NS      | $2096214.37   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                 | Goldman Sachs International, ELN, 09.70%, 02/06/2026                                                   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | Long             | SN               | CORP              | GB        |       38131 | PA      | $3475610.75   | 0.04%             | 2026-02-06      | Fixed         | 9.70%                 | No            |                  2 | On Loan: No      |
| ACE Securities Corp. Home Equity Loan Trust                                 | ACE Securities Corp. Home Equity Loan Trust, Series 2004-OP1, Class M2                                 | CUSIP: 004421EX7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      369881 | PA      | $319884.55    | 0.00%             | 2034-04-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-OA5, Class 2A1                                            | CUSIP: 126694M96<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1352367 | PA      | $1194312.66   | 0.01%             | 2046-04-25      | Floating      | 4.19%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC MSCR Trust, Series 2025-MN11, Class B1                                                           | CUSIP: 35563YAC4<br>LEI: 529900E2V0BG2KXC9E18 | Long             | ABS-MBS          | USGSE             | US        |     1660000 | PA      | $1659774.41   | 0.02%             | 2045-07-25      | Floating      | 8.10%                 | Yes           |                  2 | On Loan: No      |
| NOS SGPS SA                                                                 | NOS SGPS SA                                                                                            | CUSIP: N/A<br>LEI: 5493004DM8FGIY6QKF37       | Long             | EC               | CORP              | PT        |      360433 | NS      | $1873703.05   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BP plc                                                                      | BP plc                                                                                                 | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |     1159161 | NS      | $7349727.33   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Swiss Franc                                                                 | Swiss Franc                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CH        |           0 | OU      | $0.04         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Operating LLC                                             | Permian Resources Operating LLC                                                                        | CUSIP: 27034RAC7<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     4657000 | PA      | $4995172.90   | 0.06%             | 2031-07-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Income ETF                                                         | JPMorgan Income ETF                                                                                    | CUSIP: 46641Q159<br>LEI: 549300CYQ8KHPO2GR356 | Long             |  | RF                | US        |      514265 | NS      | $23905608.53  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Orkla ASA                                                                   | Orkla ASA                                                                                              | CUSIP: N/A<br>LEI: 549300PZS8G8RG6RVZ52       | Long             | EC               | CORP              | NO        |       64900 | NS      | $772203.83    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                                          | Altria Group, Inc.                                                                                     | CUSIP: 02209SBD4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |       18000 | PA      | $18310.71     | 0.00%             | 2029-02-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Vistra Corp.                                                                | Vistra Corp.                                                                                           | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |     1472000 | PA      | $1494262.53   | 0.02%             | 2026-12-15      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Chugoku Electric Power Co., Inc. (The)                                      | Chugoku Electric Power Co., Inc. (The)                                                                 | CUSIP: N/A<br>LEI: 353800MV866ELME96Q46       | Long             | EC               | CORP              | JP        |      137300 | NS      | $876396.12    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Itau Unibanco Holding SA                                                    | Itau Unibanco Holding SA (Preference)                                                                  | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EC               | CORP              | BR        |      599810 | NS      | $5154986.71   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc., Series C                                                                        | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     3390000 | PA      | $3365664.89   | 0.04%             | 2027-01-15      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA                                                         | Wells Fargo Bank NA, ELN, 10.00%, 02/27/2026                                                           | CUSIP: 95005A839<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | SN               | CORP              | US        |      139651 | PA      | $11688384.21  | 0.14%             | 2026-02-27      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class D                                        | CUSIP: 94989JBH8<br>LEI: 549300S7ENI2U7O0XH56 | Long             | ABS-MBS          | CORP              | US        |     3514557 | PA      | $3374010.01   | 0.04%             | 2048-05-15      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                | DaVita, Inc.                                                                                           | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     6221000 | PA      | $5706467.31   | 0.07%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                                           | Yum! Brands, Inc.                                                                                      | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     2997000 | PA      | $2930375.19   | 0.03%             | 2032-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Singapore Telecommunications Ltd.                                           | Singapore Telecommunications Ltd.                                                                      | CUSIP: N/A<br>LEI: 2549003XJKIQO8YDYD89       | Long             | EC               | CORP              | SG        |      844900 | NS      | $3048983.12   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Ukraine                                                                     | Ukraine Government Bond                                                                                | CUSIP: 903724CH3<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     2961400 | PA      | $2354313.00   | 0.03%             | 2032-02-01      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Jscb Agrobank                                                               | Jscb Agrobank                                                                                          | CUSIP: 201281AA0<br>LEI: 254900JPMU0LFCP18673 | Long             | DBT              | CORP              | UZ        |      700000 | PA      | $766717.00    | 0.01%             | 2029-10-02      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| RXO, Inc.                                                                   | RXO, Inc.                                                                                              | CUSIP: 98379JAA3<br>LEI: 549300KL8CA6GP8XPM30 | Long             | DBT              | CORP              | US        |     2956000 | PA      | $3012962.12   | 0.03%             | 2027-11-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Federation des Caisses Desjardins du Quebec                                 | Federation des Caisses Desjardins du Quebec                                                            | CUSIP: 31429KAK9<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |      266000 | PA      | $274932.38    | 0.00%             | 2028-03-14      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                                    | Svenska Handelsbanken AB                                                                               | CUSIP: 86959LAP8<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |      856000 | PA      | $884412.07    | 0.01%             | 2028-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2021-R01, Class 1B1                                        | CUSIP: 20754RAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5200000 | PA      | $5278000.00   | 0.06%             | 2041-10-25      | Floating      | 6.80%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 14.90%, 02/06/2026                                                    | CUSIP: 61778U519<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       80419 | PA      | $3328083.88   | 0.04%             | 2026-02-06      | Fixed         | 14.90%                | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 78015JSL2<br>LEI: 549300HXQQQCCUBS2Z23 | Long             | STIV             | CORP              | CA        |      250000 | PA      | $250405.80    | 0.00%             | 2026-11-17      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2017-CD6, Class C                                                            | CUSIP: 125039AK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1370690 | PA      | $1289673.31   | 0.01%             | 2050-11-13      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 13.30%, 02/20/2026                                                    | CUSIP: 61780F146<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       18205 | PA      | $4125054.43   | 0.05%             | 2026-02-20      | Fixed         | 13.30%                | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418ECA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       13326 | PA      | $11838.74     | 0.00%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                                       | Coinbase Global, Inc.                                                                                  | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |     1548000 | PA      | $1478017.24   | 0.02%             | 2028-10-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                                | Tallgrass Energy Partners LP                                                                           | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2450000 | PA      | $2449154.02   | 0.03%             | 2028-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| LyondellBasell Industries NV                                                | LyondellBasell Industries NV, Class A                                                                  | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | NL        |       52715 | NS      | $2583035.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Enagas SA                                                                   | Enagas SA                                                                                              | CUSIP: N/A<br>LEI: 213800OU3FQKGM4M2U23       | Long             | EC               | CORP              | ES        |       27592 | NS      | $454125.27    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore Funding LLC                                                        | Glencore Funding LLC                                                                                   | CUSIP: 378272AY4<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |       40000 | PA      | $36810.00     | 0.00%             | 2030-09-01      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trust                                             | CFCRE Commercial Mortgage Trust, Series 2016-C6, Class D                                               | CUSIP: 12532AAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $848854.30    | 0.01%             | 2049-11-10      | Variable      | 4.16%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YFT7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      130000 | PA      | $133303.32    | 0.00%             | 2035-07-19      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC STACR REMIC Trust, Series 2021-DNA6, Class B2                                                    | CUSIP: 35564KLV9<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |      400000 | PA      | $416876.00    | 0.00%             | 2041-10-25      | Floating      | 11.20%                | Yes           |                  2 | On Loan: No      |
| Hashemite Kingdom of Jordan                                                 | Hashemite Kingdom of Jordan                                                                            | CUSIP: 418097AP6<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |     3075000 | PA      | $3010640.25   | 0.03%             | 2032-11-12      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Terex Corp.                                                                 | Terex Corp.                                                                                            | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |     1808000 | PA      | $1851227.85   | 0.02%             | 2032-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co., Series BB                                                                           | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     8146000 | PA      | $8136973.42   | 0.09%             | 2026-03-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte. Ltd.                                   | Seagate Data Storage Technology Pte. Ltd.                                                              | CUSIP: 81180LAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |      535000 | PA      | $566132.19    | 0.01%             | 2031-07-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkiye (The)                                                   | Republic of Turkiye (The)                                                                              | CUSIP: 900123DG2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     1618000 | PA      | $1879307.00   | 0.02%             | 2033-01-19      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Conservice Midco LLC                                                        | Conservice Midco LLC, 1st Lien Term Loan                                                               | CUSIP: 20848PAM0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      922562 | PA      | $921602.87    | 0.01%             | 2030-05-13      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                    | Angel Oak Mortgage Trust, Series 2019-5, Class B1                                                      | CUSIP: 03464KAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     6250000 | PA      | $5902400.00   | 0.07%             | 2049-10-25      | Variable      | 3.96%                 | Yes           |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                                            | IndyMac INDX Mortgage Loan Trust, Series 2005-AR3, Class 3A1                                           | CUSIP: 45660LFK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      118549 | PA      | $111149.63    | 0.00%             | 2035-04-25      | Variable      | 3.92%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                        | Glencore Funding LLC                                                                                   | CUSIP: 37790BFW6<br>LEI: 213800STG1QDNBY87K49 | Long             | STIV             | CORP              | US        |      250000 | PA      | $245901.68    | 0.00%             | 2026-06-30      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     4303000 | PA      | $3060508.75   | 0.04%             | 2030-01-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Impac Secured Assets Trust                                                  | Impac Secured Assets Trust, Series 2007-3, Class A1B                                                   | CUSIP: 45257VAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1174937 | PA      | $1037089.93   | 0.01%             | 2037-09-25      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                          | Venture Global Plaquemines LNG LLC                                                                     | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     6604000 | PA      | $6853620.11   | 0.08%             | 2034-01-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN24, Class C                                                                        | CUSIP: 06540VBG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     6000000 | PA      | $5341084.80   | 0.06%             | 2062-11-15      | Variable      | 3.52%                 | No            |                  2 | On Loan: No      |
| New Albertsons LP                                                           | New Albertsons LP                                                                                      | CUSIP: 013104AF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      392000 | PA      | $415108.79    | 0.00%             | 2029-08-01      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series W                                                              | CUSIP: 38141GA38<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     4001000 | PA      | $4232028.50   | 0.05%             | 2029-02-10      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                                | Performance Food Group, Inc.                                                                           | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     2430000 | PA      | $2431317.06   | 0.03%             | 2027-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of El Salvador                                                     | Republic of El Salvador                                                                                | CUSIP: 283875CG5<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     1628000 | PA      | $1857857.32   | 0.02%             | 2054-11-21      | Fixed         | 9.65%                 | Yes           |                  2 | On Loan: No      |
| WP Carey, Inc.                                                              | WP Carey, Inc.                                                                                         | CUSIP: 92936UAJ8<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |        7000 | PA      | $6187.42      | 0.00%             | 2032-02-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Mars, Inc.                                                                  | Mars, Inc.                                                                                             | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |      250000 | PA      | $255420.21    | 0.00%             | 2030-03-01      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Dryden 68 CLO Ltd.                                                          | Dryden CLO Ltd., Series 2019-68A, Class BRR                                                            | CUSIP: 26252QAU6<br>LEI: 254900MX6QAMC9XBAB53 | Long             | ABS-CBDO         | CORP              | KY        |      650000 | PA      | $650995.80    | 0.01%             | 2035-07-15      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                 | Caesars Entertainment, Inc.                                                                            | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     6083000 | PA      | $6220019.58   | 0.07%             | 2032-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Telia Co. AB                                                                | Telia Co. AB                                                                                           | CUSIP: N/A<br>LEI: 213800FSR9RNDUOTXO25       | Long             | EC               | CORP              | SE        |      548633 | NS      | $2506409.02   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 07.30%, 02/06/2026                                                           | CUSIP: 83371Q588<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |       33292 | PA      | $6269733.73   | 0.07%             | 2026-02-06      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class C                                         | CUSIP: 17323VBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $1817840.00   | 0.02%             | 2048-04-10      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Plains All American Pipeline LP                                             | Plains All American Pipeline LP                                                                        | CUSIP: 72650RBR2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      200000 | PA      | $201106.39    | 0.00%             | 2031-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| DOF Group ASA                                                               | DOF Group ASA                                                                                          | CUSIP: N/A<br>LEI: 213800GIV9N2A714T434       | Long             | EC               | CORP              | NO        |      167766 | NS      | $1963546.33   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Pola Orbis Holdings, Inc.                                                   | Pola Orbis Holdings, Inc.                                                                              | CUSIP: N/A<br>LEI: 353800E8OIV0XYBABS79       | Long             | EC               | CORP              | JP        |       52900 | NS      | $462774.07    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                 | Goldman Sachs International, ELN, 16.80%, 02/13/2026                                                   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | Long             | SN               | CORP              | GB        |       48420 | PA      | $11355011.38  | 0.13%             | 2026-02-13      | Fixed         | 16.80%                | No            |                  2 | On Loan: No      |
| IQVIA, Inc.                                                                 | IQVIA, Inc.                                                                                            | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |     2586000 | PA      | $2586870.60   | 0.03%             | 2027-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                                     | Hyundai Capital America                                                                                | CUSIP: 44891ADF1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      141000 | PA      | $141387.20    | 0.00%             | 2027-09-24      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Adjustable Rate Mortgage Trust                                              | Adjustable Rate Mortgage Trust, Series 2005-2, Class 3A1                                               | CUSIP: 007036GT7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      230656 | PA      | $230418.00    | 0.00%             | 2035-06-25      | Variable      | 6.74%                 | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk. PT                                       | Bank Rakyat Indonesia Persero Tbk. PT                                                                  | CUSIP: N/A<br>LEI: 254900HB6S4B12GBNP64       | Long             | EC               | CORP              | ID        |    26197643 | NS      | $5946969.14   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The)                                                                                      | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     1487000 | PA      | $1404405.74   | 0.02%             | 2026-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2024-2, Class E                                   | CUSIP: 02531BAJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      525000 | PA      | $543794.48    | 0.01%             | 2031-11-12      | Fixed         | 7.87%                 | Yes           |                  2 | On Loan: No      |
| ITC Holdings Corp.                                                          | ITC Holdings Corp.                                                                                     | CUSIP: 465685AQ8<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |       34000 | PA      | $32113.20     | 0.00%             | 2030-05-14      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| ABFC Trust                                                                  | ABFC Trust, Series 2004-OPT3, Class M1                                                                 | CUSIP: 04542BGV8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        6519 | PA      | $6536.54      | 0.00%             | 2033-09-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2019-R07, Class 1B1                                        | CUSIP: 20753WAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     6613835 | PA      | $6717208.99   | 0.08%             | 2039-10-25      | Floating      | 7.21%                 | Yes           |                  2 | On Loan: No      |
| TriMas Corp.                                                                | TriMas Corp.                                                                                           | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |     4505000 | PA      | $4391824.04   | 0.05%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J1, Class 3A1                                                      | CUSIP: 12667FU29<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        7055 | PA      | $7150.20      | 0.00%             | 2032-08-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                                    | Wynn Resorts Finance LLC                                                                               | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2903000 | PA      | $2957657.68   | 0.03%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: —       |
| Clorox Co. (The)                                                            | Clorox Co. (The)                                                                                       | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |       39720 | NS      | $4480018.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YEC5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |       40000 | PA      | $39532.93     | 0.00%             | 2027-07-20      | Variable      | 1.51%                 | No            |                  2 | On Loan: No      |
| RingCentral, Inc.                                                           | RingCentral, Inc.                                                                                      | CUSIP: 76680RAJ6<br>LEI: 549300C8EH0H1614VE84 | Long             | DBT              | CORP              | US        |     3887000 | PA      | $4080991.11   | 0.05%             | 2030-08-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                                              | Univision Communications, Inc.                                                                         | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     3822000 | PA      | $3872083.49   | 0.04%             | 2030-06-30      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Vail Resorts, Inc.                                                          | Vail Resorts, Inc.                                                                                     | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |     1307000 | PA      | $1327421.88   | 0.02%             | 2030-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                                     | Qnity Electronics, Inc.                                                                                | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |      944000 | PA      | $974296.74    | 0.01%             | 2033-08-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Energy Transfer LP                                                          | Energy Transfer LP                                                                                     | CUSIP: 29273VAU4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      420000 | PA      | $459586.08    | 0.01%             | 2033-12-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Japanese Yen                                                                | Japanese Yen                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | JP        |           2 | OU      | $0.01         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                                                           | Eversource Energy                                                                                      | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |       62131 | NS      | $4295116.03   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Vehicle Financing III LLC                                             | Hertz Vehicle Financing LLC, Series 2025-6A, Class D                                                   | CUSIP: 42806MDT3<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |      250000 | PA      | $255203.65    | 0.00%             | 2032-05-25      | Fixed         | 8.30%                 | Yes           |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                                                | Mizuho Financial Group, Inc.                                                                           | CUSIP: 60687YBP3<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |      268000 | PA      | $265760.39    | 0.00%             | 2027-05-22      | Variable      | 1.23%                 | 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        |      909606 | PA      | $908141.17    | 0.01%             | 2030-05-31      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                                         | Sirius XM Radio LLC                                                                                    | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      351000 | PA      | $330999.70    | 0.00%             | 2030-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| KT&G Corp.                                                                  | KT&G Corp.                                                                                             | CUSIP: N/A<br>LEI: 988400ZJV6ISYBLQX875       | Long             | EC               | CORP              | KR        |        6407 | NS      | $685033.56    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA, Inc.                                                                 | IQVIA, Inc.                                                                                            | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |     6453000 | PA      | $6704344.35   | 0.08%             | 2032-06-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| AGL Energy Ltd.                                                             | AGL Energy Ltd.                                                                                        | CUSIP: N/A<br>LEI: 549300QAZ8A74DEDXO80       | Long             | EC               | CORP              | AU        |      323828 | NS      | $2037394.86   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Scentre Group Trust 1                                                       | Scentre Group Trust 1                                                                                  | CUSIP: 80622GAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |      250000 | PA      | $249194.04    | 0.00%             | 2027-03-23      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                       | Clydesdale Acquisition Holdings, Inc., 1st Lien Term Loan B                                            | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |      521816 | PA      | $518753.38    | 0.01%             | 2032-04-01      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2018-C44, Class D                                        | CUSIP: 95001JAC1<br>LEI: 549300AGZIS1CJS4RM30 | Long             | ABS-MBS          | CORP              | US        |     1517000 | PA      | $1104794.84   | 0.01%             | 2051-05-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 780082AR4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     5406000 | PA      | $5691782.78   | 0.07%             | 2084-05-02      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Japan Tobacco, Inc.                                                         | Japan Tobacco, Inc.                                                                                    | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |       36800 | NS      | $1330014.40   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| IRV Trust                                                                   | IRV Trust, Series 2025-200P, Class A                                                                   | CUSIP: 45006HAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3400000 | PA      | $3492766.62   | 0.04%             | 2047-03-14      | Variable      | 5.29%                 | Yes           |                  2 | On Loan: No      |
| Avient Corp.                                                                | Avient Corp.                                                                                           | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |     1120000 | PA      | $1152037.60   | 0.01%             | 2030-08-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     2070000 | PA      | $1983602.13   | 0.02%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J14, Class A3                                                      | CUSIP: 12668AQ24<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      190633 | PA      | $111677.93    | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-HYB1, Class 2A2C                                          | CUSIP: 126694WL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1037077 | PA      | $981687.46    | 0.01%             | 2036-03-20      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| CNX Midstream Partners LP                                                   | CNX Midstream Partners LP                                                                              | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      828000 | PA      | $804449.28    | 0.01%             | 2030-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Anywhere Real Estate Group LLC                                              | Anywhere Real Estate Group LLC                                                                         | CUSIP: 75606DAQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     5203000 | PA      | $4961872.58   | 0.06%             | 2030-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2019-HRP1, Class B1                                        | CUSIP: 20754PAD2<br>LEI: 549300Z5THZ1JXIHVK60 | Long             | ABS-MBS          | CORP              | US        |     3822909 | PA      | $4035897.69   | 0.05%             | 2039-11-25      | Floating      | 13.06%                | Yes           |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                      | Sequoia Mortgage Trust, Series 2007-3, Class 1A1                                                       | CUSIP: 81744MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      174265 | PA      | $150504.45    | 0.00%             | 2036-07-20      | Floating      | 4.19%                 | No            |                  2 | On Loan: No      |
| WFRBS Commercial Mortgage Trust                                             | WFRBS Commercial Mortgage Trust, Series 2014-C21, Class D                                              | CUSIP: 92939FAE9<br>LEI: 5493000F7E2NMQ4HIO61 | Long             | ABS-MBS          | CORP              | US        |     1700000 | PA      | $1507560.00   | 0.02%             | 2047-08-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                               | Six Flags Entertainment Corp., 1st Lien Term Loan B                                                    | CUSIP: 15018LAN1<br>LEI: 529900AS2CYWYFHRS781 | Long             | LON              | CORP              | US        |      467875 | PA      | $462321.32    | 0.01%             | 2031-05-01      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                                       | Avantor Funding, Inc.                                                                                  | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |     6986000 | PA      | $6932238.54   | 0.08%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Darden Restaurants, Inc.                                                    | Darden Restaurants, Inc.                                                                               | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |       20852 | NS      | $4156846.20   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| iHeartMedia, Inc.                                                           | iHeartMedia, Inc., Class A                                                                             | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      122091 | NS      | $395574.84    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products, Inc.                                           | Installed Building Products, Inc.                                                                      | CUSIP: 45780RAB7<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |      859000 | PA      | $863937.65    | 0.01%             | 2034-02-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Severstal PAO                                                               | Severstal PAO                                                                                          | CUSIP: 818150302<br>LEI: 213800OKDPTV6K4ONO53 | Long             | EC               | CORP              | RU        |       10260 | NS      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), Escrow                                                                              | CUSIP: 428ESCAB3<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    11828000 | PA      | $1182.80      | 0.00%             | 2024-10-15      | Fixed         | 5.50%                 | No            |                  3 | On Loan: No      |
| Rocket Cos., Inc.                                                           | Rocket Cos., Inc.                                                                                      | CUSIP: 77311WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1522000 | PA      | $1590470.21   | 0.02%             | 2032-02-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Partners LP                                                         | Buckeye Partners LP                                                                                    | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |      944000 | PA      | $989092.99    | 0.01%             | 2030-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Hashemite Kingdom of Jordan                                                 | Hashemite Kingdom of Jordan                                                                            | CUSIP: N/A<br>LEI: 5493000JZ4MYPVMBVN50       | Long             | DBT              | NUSS              | JO        |     2770000 | PA      | $2742189.20   | 0.03%             | 2047-10-10      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 18.00%, 02/13/2026                                                    | CUSIP: 61778U741<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |      248286 | PA      | $3146759.41   | 0.04%             | 2026-02-13      | Fixed         | 18.00%                | No            |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                                 | Crescent Energy Finance LLC                                                                            | CUSIP: 516806AK2<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     4480000 | PA      | $4457302.53   | 0.05%             | 2032-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| DSLA Mortgage Loan Trust                                                    | DSLA Mortgage Loan Trust, Series 2005-AR4, Class 2A1A                                                  | CUSIP: 23332UEM2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      994146 | PA      | $897939.72    | 0.01%             | 2045-08-19      | Floating      | 4.31%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CT7<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     1272000 | PA      | $1399838.54   | 0.02%             | 2033-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Moran Foods LLC                                                             | Moran Foods LLC, 2nd Lien PIK Term Loan                                                                | CUSIP: 61647DAU6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     9901257 | PA      | $0.10         | 0.00%             | 2026-06-30      | Variable      | 5.67%                 | No            |                  3 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                                                         | CUSIP: 05602XQR2<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     2295000 | PA      | $2315773.72   | 0.03%             | 2033-12-15      | Variable      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| SCE Trust VI                                                                | SCE Trust VI                                                                                           | CUSIP: 78410V200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      332786 | NS      | $6116606.68   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AHP Health Partners, Inc.                                                   | AHP Health Partners, Inc., 1st Lien Term Loan B                                                        | CUSIP: 00130MAL8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      519559 | PA      | $518909.80    | 0.01%             | 2032-09-20      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd.                                                       | Tencent Holdings Ltd.                                                                                  | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |      230754 | NS      | $17736169.65  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: 254900EHU7Q8FGVPI369       | Long             | DBT              | NUSS              | DO        |     1050000 | PA      | $1040025.00   | 0.01%             | 2049-06-05      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| AZZ, Inc.                                                                   | AZZ, Inc., 1st Lien Term Loan                                                                          | CUSIP: 00247NAG7<br>LEI: 549300HD1X2NFLWPYC83 | Long             | LON              | CORP              | US        |      157241 | PA      | $157633.72    | 0.00%             | 2029-05-14      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software, Inc.                                         | Take-Two Interactive Software, Inc.                                                                    | CUSIP: 874054AH2<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |        7000 | PA      | $6787.64      | 0.00%             | 2032-04-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                                               | Staples, Inc.                                                                                          | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |     8710000 | PA      | $8558729.08   | 0.10%             | 2029-09-01      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| Saxon Asset Securities Trust                                                | Saxon Asset Securities Trust, Series 2004-2, Class MV2                                                 | CUSIP: 805564QL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       83716 | PA      | $99912.14     | 0.00%             | 2035-08-25      | Floating      | 1.11%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 18.80%, 02/06/2026                                                    | CUSIP: 61778U584<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       14802 | PA      | $3928461.42   | 0.05%             | 2026-02-06      | Fixed         | 18.80%                | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397C92<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     1944000 | PA      | $2034290.23   | 0.02%             | 2028-05-12      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                                              | Univision Communications, Inc.                                                                         | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     1294000 | PA      | $1393192.86   | 0.02%             | 2032-08-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Insignia Financial Ltd.                                                     | Insignia Financial Ltd.                                                                                | CUSIP: N/A<br>LEI: 5493000NLB9VUM2IHC87       | Long             | EC               | CORP              | AU        |      136867 | NS      | $442224.10    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series X                                                              | CUSIP: 38141GA79<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     6484000 | PA      | $6844776.24   | 0.08%             | 2029-05-10      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                                              | Broadcom, Inc.                                                                                         | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      108377 | NS      | $35905300.10  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ABFC Trust                                                                  | ABFC Trust, Series 2004-HE1, Class M1                                                                  | CUSIP: 04542BJP8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      300412 | PA      | $307453.15    | 0.00%             | 2034-03-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Canadian Dollar                                                             | Canadian Dollar                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CA        |           0 | OU      | $0.25         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Group Corp.                                                          | Vertiv Group Corp., 1st Lien Term Loan B-4                                                             | CUSIP: 92537EAG3<br>LEI: 549300ZT8RQ5VK10E643 | Long             | LON              | CORP              | US        |      935930 | PA      | $938157.39    | 0.01%             | 2032-08-12      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 16.80%, 02/06/2026                                                    | CUSIP: 61778U543<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       29786 | PA      | $5545430.37   | 0.06%             | 2026-02-06      | Fixed         | 16.80%                | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-K724, Class X2B                                                      | CUSIP: 30295XAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      723044 | PA      | $601.14       | 0.00%             | 2049-12-25      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| Western Midstream Operating LP                                              | Western Midstream Operating LP                                                                         | CUSIP: 958667AH0<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |      405000 | PA      | $405195.08    | 0.00%             | 2031-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2018-B1, Class D                                                      | CUSIP: 08162PAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      975000 | PA      | $580689.72    | 0.01%             | 2051-01-15      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Masterbrand, Inc.                                                           | Masterbrand, Inc.                                                                                      | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |     2004000 | PA      | $2078200.10   | 0.02%             | 2032-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| AT&T, Inc.                                                                  | AT&T, Inc.                                                                                             | CUSIP: 00206RNB4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |      480000 | PA      | $476584.79    | 0.01%             | 2032-11-01      | Fixed         | 4.55%                 | 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        |      486686 | PA      | $486968.62    | 0.01%             | 2029-11-16      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp.                                                         | Expand Energy Corp.                                                                                    | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |      575000 | PA      | $575030.95    | 0.01%             | 2029-02-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CD&R Smokey Buyer, Inc.                                                     | CD&R Smokey Buyer, Inc.                                                                                | CUSIP: 12515KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3398000 | PA      | $2997867.83   | 0.03%             | 2029-10-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Axon Enterprise, Inc.                                                       | Axon Enterprise, Inc.                                                                                  | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |      479000 | PA      | $492387.57    | 0.01%             | 2030-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                                                        | IHO Verwaltungs GmbH                                                                                   | CUSIP: 44963BAF5<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |     1816000 | PA      | $1909191.42   | 0.02%             | 2030-11-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | EC               | CORP              | FR        |       23222 | NS      | $2034932.53   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                                    | U.S. Treasury Notes                                                                                    | CUSIP: 91282CJK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      300000 | PA      | $302303.91    | 0.00%             | 2026-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     5226000 | PA      | $5465583.46   | 0.06%             | 2029-09-15      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                 | Capital One Financial Corp., Series M                                                                  | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     5396000 | PA      | $5356097.12   | 0.06%             | 2026-09-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| Arca Continental SAB de CV                                                  | Arca Continental SAB de CV                                                                             | CUSIP: N/A<br>LEI: 254900U2BSJCQHJCXN24       | Long             | EC               | CORP              | MX        |      221129 | NS      | $2490801.31   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Wand NewCo 3, Inc.                                                          | Wand NewCo 3, Inc.                                                                                     | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |     2220000 | PA      | $2334214.56   | 0.03%             | 2032-01-30      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Gabonese Republic                                                           | Gabonese Republic                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | GA        |     2035000 | PA      | $1722647.85   | 0.02%             | 2031-02-06      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Piedmont Natural Gas Co., Inc.                                              | Piedmont Natural Gas Co., Inc.                                                                         | CUSIP: 720186AN5<br>LEI: VXB4M3BDPKF3I2AZ3G89 | Long             | DBT              | CORP              | US        |      505000 | PA      | $460999.39    | 0.01%             | 2031-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                         | U.S. Treasury 10 Year Note                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       11153 | NC      | $-14830645.99 | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Altice France SA                                                            | Altice France SA                                                                                       | CUSIP: 02090DAD0<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     2896344 | PA      | $2828888.15   | 0.03%             | 2032-04-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-LC23, Class E                                                   | CUSIP: 12636FAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1500000 | PA      | $1215150.00   | 0.01%             | 2048-10-10      | Variable      | 3.68%                 | Yes           |                  2 | On Loan: No      |
| Sumitomo Electric Industries Ltd.                                           | Sumitomo Electric Industries Ltd.                                                                      | CUSIP: N/A<br>LEI: 5493005SP87FL5TOS202       | Long             | EC               | CORP              | JP        |      140700 | NS      | $6159781.27   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Blue Racer Midstream LLC                                                    | Blue Racer Midstream LLC                                                                               | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1347000 | PA      | $1403692.54   | 0.02%             | 2029-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                   | Vistra Operations Co. LLC, 1st Lien Term Loan                                                          | CUSIP: 88233FAK6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |      482538 | PA      | $483064.04    | 0.01%             | 2030-12-20      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| ABB Ltd.                                                                    | ABB Ltd. (Registered)                                                                                  | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               | CORP              | CH        |       63687 | NS      | $5483329.20   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                      | Tenet Healthcare Corp.                                                                                 | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      969000 | PA      | $952259.56    | 0.01%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                                             | Danske Bank A/S                                                                                        | CUSIP: N/A<br>LEI: MAES062Z21O4RZ2U7M96       | Long             | EC               | CORP              | DK        |      314455 | NS      | $16020862.86  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| IG Group Holdings plc                                                       | IG Group Holdings plc                                                                                  | CUSIP: N/A<br>LEI: 2138003A5Q1M7ANOUD76       | Long             | EC               | CORP              | GB        |       41644 | NS      | $772581.70    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ams-OSRAM AG                                                                | ams-OSRAM AG                                                                                           | CUSIP: 03217CAB2<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |     3316000 | PA      | $3523492.07   | 0.04%             | 2029-03-30      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Impac Secured Assets Trust                                                  | Impac Secured Assets Trust, Series 2007-3, Class A1C                                                   | CUSIP: 45257VAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1968814 | PA      | $1747034.40   | 0.02%             | 2037-09-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The)                                                                            | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     5676000 | PA      | $5946739.52   | 0.07%             | 2082-10-31      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2019-B14, Class E                                                     | CUSIP: 08162YAR3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1415000 | PA      | $488979.85    | 0.01%             | 2062-12-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN24, Class D                                                                        | CUSIP: 06540VAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $796745.20    | 0.01%             | 2062-11-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                                    | Cooperatieve Rabobank UA                                                                               | CUSIP: 74977RDL5<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |      797000 | PA      | $783837.51    | 0.01%             | 2027-12-15      | Variable      | 1.98%                 | Yes           |                  2 | On Loan: No      |
| International Paper Co.                                                     | International Paper Co.                                                                                | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |       77690 | NS      | $3132460.80   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications, Inc.                                                 | Rogers Communications, Inc.                                                                            | CUSIP: 775109BS9<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |     4421000 | PA      | $4416420.73   | 0.05%             | 2082-03-15      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                                        | Meta Platforms, Inc., Class A                                                                          | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |       33856 | NS      | $24257824.00  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Ireland Capital DAC                                                  | AerCap Ireland Capital DAC                                                                             | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |     1247000 | PA      | $1305434.32   | 0.02%             | 2055-03-10      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-4CB, Class 2A5                                                     | CUSIP: 12668BPZ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      430224 | PA      | $320521.05    | 0.00%             | 2036-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Medtronic plc                                                               | Medtronic plc                                                                                          | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |      108373 | NS      | $11158084.08  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                                               | Koninklijke Ahold Delhaize NV                                                                          | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |       76504 | NS      | $2991318.70   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Xerox Corp.                                                                 | Xerox Corp.                                                                                            | CUSIP: 984121CS0<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |     1285000 | PA      | $1059414.87   | 0.01%             | 2030-10-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: —       |
| Entegris, Inc.                                                              | Entegris, Inc.                                                                                         | CUSIP: 29362UAD6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     2864000 | PA      | $2759810.26   | 0.03%             | 2029-05-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Betsson AB                                                                  | Betsson AB, Class B                                                                                    | CUSIP: N/A<br>LEI: 549300W61XW8OFGBG077       | Long             | EC               | CORP              | SE        |       97050 | NS      | $1139520.95   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                                       | Sumitomo Mitsui Financial Group, Inc.                                                                  | CUSIP: 86562MDM9<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |      377000 | PA      | $390286.47    | 0.00%             | 2029-07-09      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Deutsche Telekom International Finance BV                                   | Deutsche Telekom International Finance BV                                                              | CUSIP: 25156PAC7<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |      878000 | PA      | $1023887.08   | 0.01%             | 2030-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Republic of Zambia                                                          | Republic of Zambia                                                                                     | CUSIP: N/A<br>LEI: 213800DMLAZ6LGMMD849       | Long             | DBT              | NUSS              | ZM        |     1900000 | PA      | $1364200.00   | 0.02%             | 2053-12-31      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| Altice Financing SA                                                         | Altice Financing SA                                                                                    | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |     4343000 | PA      | $3124784.16   | 0.04%             | 2029-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2006-4, Class 4CB1                                      | CUSIP: 05950AAU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      568481 | PA      | $536820.85    | 0.01%             | 2046-05-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                                                  | Progress Residential Trust, Series 2021-SFR8, Class G                                                  | CUSIP: 74333TAQ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     6080000 | PA      | $6002119.46   | 0.07%             | 2038-10-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2019-GC40, Class D                                                | CUSIP: 36257HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3800000 | PA      | $2723461.90   | 0.03%             | 2052-07-10      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     1803000 | PA      | $1798131.90   | 0.02%             | 2029-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2018-BN15, Class E                                                                        | CUSIP: 06036FAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $780421.50    | 0.01%             | 2061-11-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: 22534PAC7<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |      357000 | PA      | $367528.54    | 0.00%             | 2028-07-12      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Wayfair LLC                                                                 | Wayfair LLC                                                                                            | CUSIP: 94419NAB3<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |     3941000 | PA      | $4189755.92   | 0.05%             | 2030-09-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs International                                                 | Goldman Sachs International, ELN, 13.30%, 02/13/2026                                                   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | Long             | SN               | CORP              | GB        |       43354 | PA      | $7951422.16   | 0.09%             | 2026-02-13      | Fixed         | 13.30%                | No            |                  2 | On Loan: No      |
| Sonangol Finance Ltd.                                                       | Sonangol Finance Ltd.                                                                                  | CUSIP: 83540CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | AO        |     2670000 | PA      | $2638066.80   | 0.03%             | 2031-01-29      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                 | Allied Universal Holdco LLC                                                                            | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1936000 | PA      | $1913274.65   | 0.02%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2021-3, Class B1                                                      | CUSIP: 19688FAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2500000 | PA      | $1903048.75   | 0.02%             | 2066-09-27      | Variable      | 3.06%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AQ4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     1129000 | PA      | $1166180.23   | 0.01%             | 2032-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Ukraine                                                                     | Ukraine Government Bond                                                                                | CUSIP: N/A<br>LEI: 6354001WLTJXOMEXPY07       | Long             | DBT              | NUSS              | UA        |     5570000 | PA      | $3141480.00   | 0.04%             | 2035-02-01      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Grifols SA                                                                  | Grifols SA                                                                                             | CUSIP: 39843UAA0<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |     2824000 | PA      | $2782172.61   | 0.03%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The), Series T                                                     | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     8023000 | PA      | $7899016.97   | 0.09%             | 2026-09-15      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Structured Asset Mortgage Investments II Trust                              | Structured Asset Mortgage Investments II Trust, Series 2007-AR7, Class 1A1                             | CUSIP: 86364KAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2476703 | PA      | $2051565.21   | 0.02%             | 2047-05-25      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group, Inc.                                                    | AthenaHealth Group, Inc., 1st Lien Term Loan                                                           | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |      786481 | PA      | $775501.77    | 0.01%             | 2029-02-15      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Navoi Mining & Metallurgical Combinat                                       | Navoi Mining & Metallurgical Combinat                                                                  | CUSIP: 63890CAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |      940000 | PA      | $1004803.60   | 0.01%             | 2031-10-17      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                          | Venture Global Plaquemines LNG LLC                                                                     | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     2140000 | PA      | $2243276.21   | 0.03%             | 2036-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                     | BNP Paribas Issuance BV, ELN, 09.20%, 02/20/2026                                                       | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |       25766 | PA      | $4975525.43   | 0.06%             | 2026-02-20      | Fixed         | 9.20%                 | Yes           |                  2 | On Loan: No      |
| Clean Harbors, Inc.                                                         | Clean Harbors, Inc.                                                                                    | CUSIP: 184496AR8<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |     1831000 | PA      | $1870641.15   | 0.02%             | 2033-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                          | Renaissance Home Equity Loan Trust, Series 2003-1, Class M1                                            | CUSIP: 759950AS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      110193 | PA      | $99204.86     | 0.00%             | 2033-06-25      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                                       | Directv Financing LLC                                                                                  | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4210000 | PA      | $4230506.91   | 0.05%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                                      | Lendmark Funding Trust, Series 2021-2A, Class B                                                        | CUSIP: 52604DAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      500000 | PA      | $472029.70    | 0.01%             | 2032-04-20      | Fixed         | 2.37%                 | Yes           |                  2 | On Loan: No      |
| FS Luxembourg Sarl                                                          | FS Luxembourg SARL                                                                                     | CUSIP: 30315XAC8<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |      415000 | PA      | $437717.10    | 0.01%             | 2031-02-12      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: —       |
| USI, Inc.                                                                   | USI, Inc., 1st Lien Term Loan D                                                                        | CUSIP: 90351NAR6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      517439 | PA      | $516792.36    | 0.01%             | 2029-11-21      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-AR5, Class 6A1                             | CUSIP: 22541SJE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      107858 | PA      | $106363.79    | 0.00%             | 2034-06-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                                  | Warnermedia Holdings, Inc.                                                                             | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     3511000 | PA      | $3089680.00   | 0.04%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The)                                                                              | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     4250000 | PA      | $4500771.25   | 0.05%             | 2082-10-27      | Variable      | 8.62%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                                               | NYC Commercial Mortgage Trust, Series 2021-909, Class E                                                | CUSIP: 67076XAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5000000 | PA      | $3780227.50   | 0.04%             | 2043-04-10      | Variable      | 3.21%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                                     | Hyundai Capital America                                                                                | CUSIP: 44891ACA3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |       18000 | PA      | $17076.99     | 0.00%             | 2028-09-15      | Fixed         | 2.10%                 | Yes           |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                            | Goodyear Tire & Rubber Co. (The)                                                                       | CUSIP: 382550BR1<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     1129000 | PA      | $1075334.23   | 0.01%             | 2031-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Global Medical Response, Inc.                                               | Global Medical Response, Inc.                                                                          | CUSIP: 37960BAD7<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |     1979000 | PA      | $2046266.21   | 0.02%             | 2032-10-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2017-CD5, Class D                                                            | CUSIP: 12515HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1831000 | PA      | $1696620.16   | 0.02%             | 2050-08-15      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Phoenix Group Holdings plc                                                  | Phoenix Group Holdings plc                                                                             | CUSIP: N/A<br>LEI: 2138001P49OLAEU33T68       | Long             | EC               | CORP              | GB        |      262173 | NS      | $2657301.08   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Lenovo Group Ltd.                                                           | Lenovo Group Ltd.                                                                                      | CUSIP: N/A<br>LEI: 254900VUZRGD5U73RE46       | Long             | EC               | CORP              | HK        |      656000 | NS      | $739124.09    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nedbank Group Ltd.                                                          | Nedbank Group Ltd.                                                                                     | CUSIP: N/A<br>LEI: 3789009E42FA3CB31065       | Long             | EC               | CORP              | ZA        |      162809 | NS      | $2674285.54   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                                             | ASML Holding NV                                                                                        | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       28748 | NS      | $41221930.75  | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Leidos, Inc.                                                                | Leidos, Inc.                                                                                           | CUSIP: 52532XAF2<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |      470000 | PA      | $469589.04    | 0.01%             | 2030-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NiSource, Inc.                                                              | NiSource, Inc.                                                                                         | CUSIP: 65473PAT2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     2550000 | PA      | $2634968.55   | 0.03%             | 2055-03-31      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                                             | Moran Foods LLC, 1st Lien Super Senior Delayed Draw Term Loan                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     8552819 | PA      | $8125178.13   | 0.09%             | 2026-06-30      | Variable      | 15.44%                | No            |                  3 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: 695847AT0<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      554000 | PA      | $557601.00    | 0.01%             | 2031-04-08      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2006-S3, Class 2A4                                                     | CUSIP: 46629ABU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        6800 | PA      | $6234.99      | 0.00%             | 2021-08-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MIWD Holdco II LLC                                                          | MIWD Holdco II LLC                                                                                     | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1196000 | PA      | $1161902.16   | 0.01%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| FHLMC Structured Agency Credit Risk Debt Notes                              | FHLMC STACR REMIC Trust, Series 2021-DNA2, Class B2                                                    | CUSIP: 35564KDY2<br>LEI: 5493007ZK0X40BI7UF30 | Long             | ABS-MBS          | CORP              | US        |     3000000 | PA      | $3748140.00   | 0.04%             | 2033-08-25      | Floating      | 9.70%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254DA5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |     2500000 | PA      | $2666250.00   | 0.03%             | 2030-03-08      | Variable      | 7.88%                 | Yes           |                  2 | On Loan: No      |
| BFF Bank SpA                                                                | BFF Bank SpA                                                                                           | CUSIP: N/A<br>LEI: 815600522538355AE429       | Long             | EC               | CORP              | IT        |       93228 | NS      | $893981.25    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Ascent Resources Utica Holdings LLC                                         | Ascent Resources Utica Holdings LLC                                                                    | CUSIP: 04364VBA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1532000 | PA      | $1586375.28   | 0.02%             | 2033-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Investec plc                                                                | Investec plc                                                                                           | CUSIP: N/A<br>LEI: 2138007Z3U5GWDN3MY22       | Long             | EC               | CORP              | GB        |      165809 | NS      | $1379459.25   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                                                          | State Street Corp.                                                                                     | CUSIP: 857477CA9<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |      464000 | PA      | $467947.16    | 0.01%             | 2034-01-26      | Variable      | 4.82%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                           | Philip Morris International, Inc.                                                                      | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |       25091 | NS      | $4502329.04   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-19CB, Class A15                                                    | CUSIP: 02147QAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      382270 | PA      | $210011.20    | 0.00%             | 2036-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                       | Alexandria Real Estate Equities, Inc.                                                                  | CUSIP: 015271AY5<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |        7000 | PA      | $6018.72      | 0.00%             | 2034-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Braskem Netherlands Finance BV                                              | Braskem Netherlands Finance BV                                                                         | CUSIP: 10554TAG0<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |     1287000 | PA      | $516408.75    | 0.01%             | 2033-02-13      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Sage Group plc (The)                                                        | Sage Group plc (The)                                                                                   | CUSIP: N/A<br>LEI: 2138005RN5XYLTF8G138       | Long             | EC               | CORP              | GB        |       62544 | NS      | $820152.32    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Shoprite Holdings Ltd.                                                      | Shoprite Holdings Ltd.                                                                                 | CUSIP: N/A<br>LEI: 529900Q4O1EYP6NH5150       | Long             | EC               | CORP              | ZA        |       43043 | NS      | $710166.42    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR27, Class D                                                   | CUSIP: 12635QAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      500000 | PA      | $435000.00    | 0.01%             | 2048-10-10      | Variable      | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series II                                                                             | CUSIP: 172967242<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |       95477 | NS      | $2395517.93   | 0.03%             |  |  |  | No            |                  1 | 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        |      244659 | PA      | $233955.62    | 0.00%             | 2029-11-30      | Variable      | 7.14%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                                           | NatWest Group plc                                                                                      | CUSIP: 639057AN8<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |     3080000 | PA      | $3251776.22   | 0.04%             | 2035-03-01      | Variable      | 5.78%                 | No            |                  2 | On Loan: No      |
| BPER Banca SpA                                                              | BPER Banca SpA                                                                                         | CUSIP: N/A<br>LEI: N747OI7JINV7RUUH6190       | Long             | EC               | CORP              | IT        |      156467 | NS      | $2203593.66   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BCE, Inc.                                                                   | BCE, Inc.                                                                                              | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | CA        |      168884 | NS      | $4365818.53   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| CITI Asset Receivables Trust I                                              | CITI Asset Receivables Trust I, Series 2025-2, Class CERT                                              | CUSIP: 17292CAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      283423 | PA      | $283394.64    | 0.00%             | 2031-05-20      | Fixed         | 24.76%                | Yes           |                  3 | On Loan: No      |
| Athene Holding Ltd.                                                         | Athene Holding Ltd.                                                                                    | CUSIP: 04686JAM3<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |     3745000 | PA      | $3751684.83   | 0.04%             | 2055-06-28      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Paraguay Government International Bond                                      | Republic of Paraguay                                                                                   | CUSIP: 699149BY5<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     1016000 | PA      | $1089152.00   | 0.01%             | 2055-03-04      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| Trinity Industries, Inc.                                                    | Trinity Industries, Inc.                                                                               | CUSIP: 896522AJ8<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | DBT              | CORP              | US        |     2548000 | PA      | $2630073.63   | 0.03%             | 2028-07-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, REMIC, Series 5632, Class UZ                                                                    | CUSIP: 3137HPVR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1050000 | PA      | $1039500.00   | 0.01%             | 2056-02-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Northriver Midstream Finance LP                                             | Northriver Midstream Finance LP                                                                        | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |     1242000 | PA      | $1263624.46   | 0.01%             | 2032-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                                     | American Airlines, Inc.                                                                                | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1349367 | PA      | $1350336.73   | 0.02%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J6, Class 2A1                                                      | CUSIP: 12667GVN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        3547 | PA      | $3463.50      | 0.00%             | 2025-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GSMSC Pass-Through Trust                                                    | GSMSC Pass-Through Trust, Series 2008-2R, Class 2A1                                                    | CUSIP: 3622X1AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1195449 | PA      | $126592.33    | 0.00%             | 2036-10-25      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Realty Income Corp.                                                         | Realty Income Corp.                                                                                    | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |       71030 | NS      | $4344194.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC MSCR Trust, Series 2021-MN1, Class M2                                                            | CUSIP: 35563FAB7<br>LEI: 549300XWC4JMK6CH6K84 | Long             | ABS-MBS          | USGSE             | US        |    10750012 | PA      | $11162865.14  | 0.13%             | 2051-01-25      | Floating      | 7.45%                 | Yes           |                  2 | On Loan: No      |
| DBS Group Holdings Ltd.                                                     | DBS Group Holdings Ltd.                                                                                | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |      452320 | NS      | $21024898.60  | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Lear Corp.                                                                  | Lear Corp.                                                                                             | CUSIP: 521865BC8<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | DBT              | CORP              | US        |        5000 | PA      | $4466.81      | 0.00%             | 2032-01-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Nippon Shokubai Co. Ltd.                                                    | Nippon Shokubai Co. Ltd.                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       50900 | NS      | $733101.45    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2007-5, Class 4A1                                                | CUSIP: 059523AL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1685614 | PA      | $1177470.77   | 0.01%             | 2037-07-25      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| PetSmart LLC                                                                | PetSmart LLC, 1st Lien Term Loan                                                                       | CUSIP: 71677HAN5<br>LEI: 894500NGJMHSFNESGA67 | Long             | LON              | CORP              | US        |     4871058 | PA      | $4863751.58   | 0.06%             | 2032-08-18      | Variable      | 7.67%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc.                                     | Citigroup Global Markets Holdings, Inc., ELN, 16.30%, 02/27/2026                                       | CUSIP: N/A<br>LEI: 82VOJDD5PTRDMVVMGV31       | Long             | SN               | CORP              | US        |       49916 | PA      | $3007242.47   | 0.03%             | 2026-02-27      | Fixed         | 16.30%                | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                                               | Al Rajhi Bank                                                                                          | CUSIP: N/A<br>LEI: 558600BQZS4Y1DTU8589       | Long             | EC               | CORP              | SA        |      113948 | NS      | $3253934.57   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Rwanda                                                          | Republic of Rwanda                                                                                     | CUSIP: N/A<br>LEI: 213800DQC28OBRZDYJ87       | Long             | DBT              | NUSS              | RW        |     1000000 | PA      | $931560.00    | 0.01%             | 2031-08-09      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     3170000 | PA      | $3173252.86   | 0.04%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Orient Overseas International Ltd.                                          | Orient Overseas International Ltd.                                                                     | CUSIP: N/A<br>LEI: 529900DQ426GJO276W95       | Long             | EC               | CORP              | BM        |       95500 | NS      | $1564593.17   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group plc                                                 | Reckitt Benckiser Group plc                                                                            | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |       38428 | NS      | $3203353.54   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuren Delaware Holdco, Inc.                                                | Acuren Delaware Holdco, Inc., 1st Lien Term Loan                                                       | CUSIP: 00036YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      472015 | PA      | $471868.63    | 0.01%             | 2031-07-30      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Canon, Inc.                                                                 | Canon, Inc.                                                                                            | CUSIP: N/A<br>LEI: 529900JH1GSC035SSP77       | Long             | EC               | CORP              | JP        |       67400 | NS      | $2051580.74   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                                | Hess Midstream Operations LP                                                                           | CUSIP: 428104AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        5000 | PA      | $5001.31      | 0.00%             | 2028-06-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |     1300000 | PA      | $1345500.00   | 0.02%             | 2032-05-29      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| NOK Corp.                                                                   | NOK Corp.                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        9000 | NS      | $175279.81    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                                                      | Keurig Dr Pepper, Inc.                                                                                 | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      154979 | NS      | $4252623.76   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                       | NextEra Energy Capital Holdings, Inc.                                                                  | CUSIP: 65339KCW8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     1100000 | PA      | $1135715.90   | 0.01%             | 2054-09-01      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| RB Global Holdings, Inc.                                                    | RB Global Holdings, Inc.                                                                               | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |     1476000 | PA      | $1538563.21   | 0.02%             | 2031-03-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Shenzhou International Group Holdings Ltd.                                  | Shenzhou International Group Holdings Ltd.                                                             | CUSIP: N/A<br>LEI: 529900B4W41TCUKJFM73       | Long             | EC               | CORP              | KY        |      808400 | NS      | $6429496.92   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Gray Media, Inc.                                                            | Gray Media, Inc.                                                                                       | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     1274000 | PA      | $945844.99    | 0.01%             | 2031-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                                       | Sumitomo Mitsui Financial Group, Inc.                                                                  | CUSIP: 86562MDK3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |     2696000 | PA      | $2784590.56   | 0.03%             | 2034-06-05      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| Boyd Gaming Corp.                                                           | Boyd Gaming Corp.                                                                                      | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |      933000 | PA      | $908857.06    | 0.01%             | 2031-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trust                                             | CSAIL Commercial Mortgage Trust, Series 2018-C14, Class D                                              | CUSIP: 12596GAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2973000 | PA      | $2208912.54   | 0.03%             | 2051-11-15      | Variable      | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Activia Properties, Inc.                                                    | Activia Properties, Inc.                                                                               | CUSIP: N/A<br>LEI: 353800RPGYN3ML8CXV54       | Long             | EC               | CORP              | JP        |         410 | NS      | $382912.88    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NetEase, Inc.                                                               | NetEase, Inc.                                                                                          | CUSIP: N/A<br>LEI: 5299004AF4DSJDB0PA32       | Long             | EC               | CORP              | KY        |      374900 | NS      | $9721188.67   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Bajaj Auto Ltd.                                                             | Bajaj Auto Ltd.                                                                                        | CUSIP: N/A<br>LEI: 335800DLAO5NCNN8G863       | Long             | EC               | CORP              | IN        |       31559 | NS      | $3295905.32   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                                         | Intesa Sanpaolo SpA                                                                                    | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |     1247711 | NS      | $8833035.02   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| MED ParentCo LP                                                             | MED ParentCo LP, 1st Lien Term Loan B                                                                  | CUSIP: 58401DAN4<br>LEI: 549300660CLPRNK19Z91 | Long             | LON              | CORP              | US        |      338200 | PA      | $337672.80    | 0.00%             | 2031-04-15      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                  | Charles Schwab Corp. (The), Series H                                                                   | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    11818000 | PA      | $11086942.07  | 0.13%             | 2030-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MGM Resorts International                                                   | MGM Resorts International                                                                              | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     2358000 | PA      | $2411774.19   | 0.03%             | 2029-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Resilience Parent LLC                                                       | Resilience Parent LLC, 1st Lien Term Loan B                                                            | CUSIP: 75908HAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      298182 | PA      | $297809.09    | 0.00%             | 2033-01-21      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                                     | GFL Environmental, Inc.                                                                                | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     3832000 | PA      | $3771421.06   | 0.04%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN23, Class D                                                                        | CUSIP: 06541RAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4000000 | PA      | $3161313.60   | 0.04%             | 2052-12-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Comcast Corp.                                                               | Comcast Corp., Class A                                                                                 | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      134254 | NS      | $3994056.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Chartered plc                                                      | Standard Chartered plc                                                                                 | CUSIP: 853254CW8<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |      500000 | PA      | $512865.00    | 0.01%             | 2028-02-08      | Variable      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkiye (The)                                                   | Republic of Turkiye (The)                                                                              | CUSIP: 900123CB4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      610000 | PA      | $458042.90    | 0.01%             | 2043-04-16      | Fixed         | 4.88%                 | 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        |      719559 | PA      | $719429.70    | 0.01%             | 2031-08-20      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     5627000 | PA      | $5732506.25   | 0.07%             | 2033-09-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Option Care Health, Inc.                                                    | Option Care Health, Inc., 1st Lien Term Loan                                                           | CUSIP: 68404YAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      587178 | PA      | $587665.72    | 0.01%             | 2032-09-22      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| CSMC Mortgage-Backed Trust                                                  | CSMC Mortgage-Backed Trust, Series 2007-2, Class 3A13                                                  | CUSIP: 126384CG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      307379 | PA      | $139393.55    | 0.00%             | 2037-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co. Ltd.                                             | ASE Technology Holding Co. Ltd.                                                                        | CUSIP: N/A<br>LEI: 300300GO8QHPMV87NZ73       | Long             | EC               | CORP              | TW        |      894614 | NS      | $8317324.60   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Citi Asset Receivables Trust I                                              | Citi Asset Receivables Trust I, Series 2025-4, Class CERT                                              | CUSIP: 17302GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      116490 | PA      | $116653.39    | 0.00%             | 2031-07-20      | Fixed         | 25.10%                | Yes           |                  3 | On Loan: No      |
| Standard Building Solutions, Inc.                                           | Standard Building Solutions, Inc.                                                                      | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     4418000 | PA      | $4555563.27   | 0.05%             | 2032-08-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-6F, Class 3A18                                                    | CUSIP: 362341EM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      414968 | PA      | $400633.66    | 0.00%             | 2035-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                                            | Clarivate Science Holdings Corp.                                                                       | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2803000 | PA      | $2409360.13   | 0.03%             | 2029-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                                           | Xcel Energy, Inc.                                                                                      | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |       55888 | NS      | $4250841.28   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2021-3, Class B2                                          | CUSIP: 24381VAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4502000 | PA      | $3531950.01   | 0.04%             | 2066-08-25      | Variable      | 4.13%                 | Yes           |                  2 | On Loan: No      |
| Midea Group Co. Ltd.                                                        | Midea Group Co. Ltd., Class A                                                                          | CUSIP: N/A<br>LEI: 3003003TRPHLHZD2IF61       | Long             | EC               | CORP              | CN        |      438099 | NS      | $4884498.76   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Woodside Energy Group Ltd.                                                  | Woodside Energy Group Ltd.                                                                             | CUSIP: N/A<br>LEI: 2549005ZC5RXAOO7FH41       | Long             | EC               | CORP              | AU        |       67756 | NS      | $1196334.12   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: 65412JAB9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     1290000 | PA      | $1206150.00   | 0.01%             | 2047-11-28      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                                     | Fremont Home Loan Trust, Series 2004-C, Class M1                                                       | CUSIP: 35729PET3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      380814 | PA      | $362673.91    | 0.00%             | 2034-08-25      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                                                  | Progress Residential Trust, Series 2022-SFR3, Class D                                                  | CUSIP: 74331UAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1250000 | PA      | $1236023.13   | 0.01%             | 2039-04-17      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Whitecap Resources, Inc.                                                    | Whitecap Resources, Inc.                                                                               | CUSIP: 96467A200<br>LEI: 894500UA4G4BTB67II45 | Long             | EC               | CORP              | CA        |      204985 | NS      | $1869726.95   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                                  | FHLMC UMBS, 30 Year                                                                                    | CUSIP: 3132DWEK5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       80903 | PA      | $79591.48     | 0.00%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Stanwich Mortgage Loan Co. LLC                                              | Stanwich Mortgage Loan Co. LLC, Series 2021-NPB1, Class A2                                             | CUSIP: 85501YAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      366999 | PA      | $369002.01    | 0.00%             | 2026-10-16      | Variable      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| FFMLT Trust                                                                 | FFMLT Trust, Series 2004-FF3, Class M1                                                                 | CUSIP: 36228FU61<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      205315 | PA      | $201400.70    | 0.00%             | 2034-05-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325BM6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      950000 | PA      | $841700.00    | 0.01%             | 2041-01-18      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2025-183                                                                                  | CUSIP: 38384TBG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     7374660 | PA      | $522339.78    | 0.01%             | 2067-10-16      | Variable      | 0.73%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage-Backed Securities Trust                                | Wells Fargo Mortgage-Backed Securities Trust, Series 2006-AR19, Class A3                               | CUSIP: 949789AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       61450 | PA      | $57425.29     | 0.00%             | 2036-12-25      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| Unicaja Banco SA                                                            | Unicaja Banco SA                                                                                       | CUSIP: N/A<br>LEI: 5493007SJLLCTM6J6M37       | Long             | EC               | CORP              | ES        |      358600 | NS      | $1228881.51   | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 15.00%, 02/20/2026                                                           | CUSIP: 83371Q836<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |       19551 | PA      | $5938853.77   | 0.07%             | 2026-02-20      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| Motorola Solutions, Inc.                                                    | Motorola Solutions, Inc.                                                                               | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       10460 | NS      | $4210568.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AmeriGas Partners LP                                                        | AmeriGas Partners LP                                                                                   | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1372000 | PA      | $1470455.78   | 0.02%             | 2030-06-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Nordea Bank Abp                                                             | Nordea Bank Abp                                                                                        | CUSIP: 65559CAE1<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |      578000 | PA      | $569192.53    | 0.01%             | 2026-09-30      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| MediaTek, Inc.                                                              | MediaTek, Inc.                                                                                         | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |      109389 | NS      | $6067866.44   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Sunoco LP                                                                   | Sunoco LP                                                                                              | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     1102000 | PA      | $1145893.76   | 0.01%             | 2029-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| MASTR Asset-Backed Securities Trust                                         | MASTR Asset-Backed Securities Trust, Series 2005-NC1, Class M4                                         | CUSIP: 57643LGJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      227667 | PA      | $252034.47    | 0.00%             | 2034-12-25      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2025-98, Class UZ                                                                  | CUSIP: 3136BX2H6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     1214731 | PA      | $1210660.80   | 0.01%             | 2054-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bolivarian Republic of Venezuela                                            | Bolivarian Republic of Venezuela                                                                       | CUSIP: N/A<br>LEI: 529900XM8PJTJK5OJI77       | Long             | DBT              | NUSS              | VE        |     6030000 | PA      | $2176830.00   | 0.03%             | 2026-04-21      | Fixed         | 7.65%                 | Yes           |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.                                         | Hong Kong Exchanges & Clearing Ltd.                                                                    | CUSIP: N/A<br>LEI: 213800YTVSXYQN17BW16       | Long             | EC               | CORP              | HK        |      182003 | NS      | $10034027.86  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                   | Bank of Nova Scotia (The)                                                                              | CUSIP: 06418JAC5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |      886000 | PA      | $935912.77    | 0.01%             | 2034-02-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                         | New Residential Mortgage Loan Trust, Series 2019-NQM4, Class B2                                        | CUSIP: 64828EAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4000000 | PA      | $3792894.00   | 0.04%             | 2059-09-25      | Variable      | 5.10%                 | Yes           |                  2 | On Loan: No      |
| TKO Worldwide Holdings LLC                                                  | TKO Worldwide Holdings LLC, 1st Lien Term Loan B-5                                                     | CUSIP: 90266UAL7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      504985 | PA      | $505595.66    | 0.01%             | 2031-11-21      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2007-9T1, Class 3A1                                                     | CUSIP: 02150JBA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        4774 | PA      | $4752.85      | 0.00%             | 2022-05-25      | Fixed         | 5.50%                 | No            |                  3 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-10, Class A4                                              | CUSIP: 12545CAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       98197 | PA      | $38365.39     | 0.00%             | 2037-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                         | Audacy, Inc.                                                                                           | CUSIP: 05070N129<br>LEI: N/A                  | N/A              | DO               |  | US        |       12694 | NS      | $196.76       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Moran Foods LLC                                                             | Moran Foods LLC, 1st Lien Term Loan A                                                                  | CUSIP: 61647DAX0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     3221574 | PA      | $3060495.53   | 0.04%             | 2029-01-02      | Variable      | 6.34%                 | No            |                  3 | On Loan: No      |
| BP Capital Markets America, Inc.                                            | BP Capital Markets America, Inc.                                                                       | CUSIP: 10373QAV2<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |      258000 | PA      | $256320.08    | 0.00%             | 2027-01-16      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| GCAT Trust                                                                  | GCAT Trust, Series 2020-NQM1, Class B1                                                                 | CUSIP: 36167FAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3000000 | PA      | $2644732.50   | 0.03%             | 2060-01-25      | Variable      | 3.64%                 | Yes           |                  2 | On Loan: No      |
| Connect Finco SARL                                                          | Connect Finco SARL                                                                                     | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2325000 | PA      | $2467678.28   | 0.03%             | 2029-09-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Bmo Frn                                                                     | Bmo Frn                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |     1170000 | PA      | $95478.79     | 0.00%             | 2057-11-15      | Fixed         | 0.00%                 | 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        |     2588005 | PA      | $2583760.41   | 0.03%             | 2031-01-31      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The), Series V                                                     | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     4543000 | PA      | $4612394.33   | 0.05%             | 2027-09-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Smyrna Ready Mix Concrete LLC                                               | Smyrna Ready Mix Concrete LLC                                                                          | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |     3975000 | PA      | $4237727.63   | 0.05%             | 2031-11-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Democratic Socialist Republic of Sri Lanka                                  | Democratic Socialist Republic of Sri Lanka                                                             | CUSIP: N/A<br>LEI: 254900IG6Y30I2QE2R92       | Long             | DBT              | NUSS              | LK        |     1800063 | PA      | $1470246.46   | 0.02%             | 2035-06-15      | Variable      | 3.60%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 09.70%, 02/13/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       27376 | PA      | $4826777.90   | 0.06%             | 2026-02-13      | Fixed         | 9.70%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                                     | SS&C Technologies, Inc.                                                                                | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    11533000 | PA      | $11523021.65  | 0.13%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280EG0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |     1232000 | PA      | $1296131.53   | 0.02%             | 2032-05-17      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| Millrose Properties, Inc.                                                   | Millrose Properties, Inc.                                                                              | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2386000 | PA      | $2435354.41   | 0.03%             | 2030-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                                           | Clarios Global LP                                                                                      | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2326000 | PA      | $2433300.71   | 0.03%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Americas, Inc.                                                | Bausch Health Americas, Inc.                                                                           | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |     3952000 | PA      | $3918882.24   | 0.05%             | 2027-01-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| News Corp.                                                                  | News Corp.                                                                                             | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |     4395000 | PA      | $4281912.17   | 0.05%             | 2029-05-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     1702000 | PA      | $1721950.84   | 0.02%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cemex SAB de CV                                                             | Cemex SAB de CV                                                                                        | CUSIP: 151290CC5<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |      523000 | PA      | $548365.50    | 0.01%             | 2030-06-10      | Variable      | 7.20%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2014-UBS5, Class D                                                   | CUSIP: 12592KAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4100000 | PA      | $2706000.00   | 0.03%             | 2047-09-10      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                                        | Prime Security Services Borrower LLC, 1st Lien Term Loan B-1                                           | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |      810329 | PA      | $808133.39    | 0.01%             | 2030-10-15      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     1455000 | PA      | $1408277.59   | 0.02%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2007-1F, Class 3A13                                                    | CUSIP: 3622MPBC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      191515 | PA      | $113877.05    | 0.00%             | 2037-01-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 17.80%, 02/27/2026                                                    | CUSIP: 61780F328<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |        4300 | PA      | $4804315.96   | 0.06%             | 2026-02-27      | Fixed         | 17.80%                | No            |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                                         | Sirius XM Radio LLC                                                                                    | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |       76000 | PA      | $69414.92     | 0.00%             | 2031-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: —       |
| Qnity Electronics, Inc.                                                     | Qnity Electronics, Inc.                                                                                | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     1594000 | PA      | $1623830.12   | 0.02%             | 2032-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Expedia Group, Inc.                                                         | Expedia Group, Inc.                                                                                    | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       38213 | NS      | $10120330.92  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Prairie Acquiror LP                                                         | Prairie Acquiror LP, 1st Lien Term Loan B-4                                                            | CUSIP: 73955HAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      417605 | PA      | $417517.22    | 0.00%             | 2029-08-01      | Variable      | 7.42%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                                   | HCA, Inc.                                                                                              | CUSIP: 404119CC1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     1058000 | PA      | $947557.97    | 0.01%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Hysan Development Co. Ltd.                                                  | Hysan Development Co. Ltd.                                                                             | CUSIP: N/A<br>LEI: 5299007BABFLKIH9HL03       | Long             | EC               | CORP              | HK        |      124000 | NS      | $340550.78    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Resideo Funding, Inc.                                                       | Resideo Funding, Inc.                                                                                  | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |     2896000 | PA      | $2941643.86   | 0.03%             | 2032-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Gap, Inc. (The)                                                             | Gap, Inc. (The)                                                                                        | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |     2615000 | PA      | $2487027.39   | 0.03%             | 2029-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| TC Energy Corp.                                                             | TC Energy Corp.                                                                                        | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |       93740 | NS      | $5496420.96   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Accendra Health, Inc.                                                       | Accendra Health, Inc.                                                                                  | CUSIP: 690732AF9<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |     4362000 | PA      | $2869912.91   | 0.03%             | 2029-03-31      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: —       |
| Hong Kong Dollar                                                            | Hong Kong Dollar                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | HK        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Asplundh Tree Expert LLC                                                    | Asplundh Tree Expert LLC, 1st Lien Term Loan                                                           | CUSIP: 04538FAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      631232 | PA      | $631629.80    | 0.01%             | 2027-09-06      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2022-1, Class B2                                                      | CUSIP: 19688HAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2581000 | PA      | $2243140.65   | 0.03%             | 2066-12-27      | Variable      | 4.09%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AJ0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     1565000 | PA      | $1523384.30   | 0.02%             | 2029-05-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2005-QA5, Class A2                                                                  | CUSIP: 76110H5A3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      467756 | PA      | $428682.82    | 0.00%             | 2035-04-25      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), Escrow                                                                              | CUSIP: 428ESCAA5<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     1106000 | PA      | $110.60       | 0.00%             | 2022-10-15      | Fixed         | 6.25%                 | No            |                  3 | On Loan: No      |
| Centex Home Equity Loan Trust                                               | Centex Home Equity Loan Trust, Series 2004-D, Class MV2                                                | CUSIP: 152314LR9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       13991 | PA      | $13333.84     | 0.00%             | 2034-09-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                          | Dominican Republic Government Bond                                                                     | CUSIP: N/A<br>LEI: 254900EHU7Q8FGVPI369       | Long             | DBT              | NUSS              | DO        |     1487000 | PA      | $1638674.00   | 0.02%             | 2044-04-30      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| APi Group DE, Inc.                                                          | APi Group DE, Inc.                                                                                     | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |     2586000 | PA      | $2514884.48   | 0.03%             | 2029-07-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: —       |
| Israeli Shekel                                                              | Israeli Shekel                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | IL        |           5 | OU      | $1.70         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2007-8CB, Class A9                                                      | CUSIP: 02150FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      131925 | PA      | $67668.74     | 0.00%             | 2037-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Altice France Lux 3/Altice Holdings 1                                       | Altice France Lux 3                                                                                    | CUSIP: 020956AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |      812800 | PA      | $785437.18    | 0.01%             | 2033-01-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Chubu Electric Power Co., Inc.                                              | Chubu Electric Power Co., Inc.                                                                         | CUSIP: N/A<br>LEI: 529900A76GOP0PGNHT63       | Long             | EC               | CORP              | JP        |       31400 | NS      | $456198.21    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO Ltd.                                      | GoldenTree Loan Management US CLO Ltd., Series 2020-8A, Class DRR                                      | CUSIP: 38136NBE5<br>LEI: 549300LOEERRNVSKVY31 | Long             | ABS-CBDO         | CORP              | KY        |     1300000 | PA      | $1304746.30   | 0.02%             | 2034-10-20      | Floating      | 6.57%                 | Yes           |                  2 | On Loan: No      |
| Mozambique International Bond                                               | Republic of Mozambique                                                                                 | CUSIP: N/A<br>LEI: 213800759WLKYIKPER73       | Long             | DBT              | NUSS              | MZ        |      700000 | PA      | $605990.00    | 0.01%             | 2031-09-15      | Variable      | 9.00%                 | Yes           |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp                                                                                             | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |      192686 | NS      | $10811611.46  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp.                                                                   | PPL Corp.                                                                                              | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |       33574 | NS      | $1217057.50   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Kenya                                                           | Republic of Kenya                                                                                      | CUSIP: 491798AP9<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     1890000 | PA      | $1900395.00   | 0.02%             | 2033-10-09      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                                         | Rocket Mortgage LLC                                                                                    | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2903000 | PA      | $2803899.13   | 0.03%             | 2029-03-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc.                                                                               | CUSIP: 550241AH6<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     8787081 | PA      | $8787081.46   | 0.10%             | 2030-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust                                  | JPMDB Commercial Mortgage Securities Trust, Series 2016-C4, Class D                                    | CUSIP: 46646RAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2514000 | PA      | $1739140.20   | 0.02%             | 2049-12-15      | Variable      | 3.02%                 | Yes           |                  2 | On Loan: No      |
| Republic of Cameroon International Bond                                     | Republic of Cameroon                                                                                   | CUSIP: N/A<br>LEI: 54930021BO6NHYGBBV24       | Long             | DBT              | NUSS              | CM        |     2300000 | PA      | $2304324.00   | 0.03%             | 2031-07-31      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2019-R05, Class 1B1                                        | CUSIP: 20754HAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      250385 | PA      | $253653.91    | 0.00%             | 2039-07-25      | Floating      | 7.91%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                     | Level 3 Financing, Inc.                                                                                | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     3615323 | PA      | $3744769.64   | 0.04%             | 2034-03-31      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ADT Security Corp. (The)                                                    | ADT Security Corp. (The)                                                                               | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     4070000 | PA      | $3965332.62   | 0.05%             | 2029-08-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      694000 | PA      | $626147.54    | 0.01%             | 2032-10-20      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                                                  | Axalta Coating Systems LLC                                                                             | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4598000 | PA      | $4588704.96   | 0.05%             | 2027-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                                   | FHLMC Seasoned Credit Risk Transfer Trust, Series 2017-3, Class A                                      | CUSIP: 35563PCH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   163741285 | PA      | $1.64         | 0.00%             | 2056-07-25      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     2927000 | PA      | $3068798.52   | 0.04%             | 2028-06-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| TEGNA, Inc.                                                                 | TEGNA, Inc.                                                                                            | CUSIP: 87901JAH8<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |     5152000 | PA      | $5116139.97   | 0.06%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DBJPM Mortgage Trust                                                        | DBJPM Mortgage Trust, Series 2016-C3, Class E                                                          | CUSIP: 23312VAU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1250000 | PA      | $536704.00    | 0.01%             | 2049-08-10      | Variable      | 4.23%                 | Yes           |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                                                | Mizuho Financial Group, Inc.                                                                           | CUSIP: 60687YDG1<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |      420000 | PA      | $438166.42    | 0.01%             | 2035-07-10      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      163881 | NS      | $14829591.69  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Scotsman, Inc.                                                     | Williams Scotsman, Inc.                                                                                | CUSIP: 96949VAL7<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     2571000 | PA      | $2680506.60   | 0.03%             | 2031-10-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Prime Money Market Fund                                            | JPMorgan Prime Money Market Fund, Class IM                                                             | CUSIP: 46637K844<br>LEI: 549300YD7H8SEEU7VG41 | Long             | STIV             | RF                | US        |    27488303 | NS      | $27499297.84  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| New Taiwan Dollar                                                           | New Taiwan Dollar                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | TW        |     2157247 | OU      | $68549.31     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JFE Holdings, Inc.                                                          | JFE Holdings, Inc.                                                                                     | CUSIP: N/A<br>LEI: 3538002Y11Y03NA9B530       | Long             | EC               | CORP              | JP        |      105700 | NS      | $1423058.65   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DWS Group GmbH & Co. KGaA                                                   | DWS Group GmbH & Co. KGaA                                                                              | CUSIP: N/A<br>LEI: 529900VM3464806ERS69       | Long             | EC               | CORP              | DE        |       11289 | NS      | $826514.61    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SBM Offshore NV                                                             | SBM Offshore NV                                                                                        | CUSIP: N/A<br>LEI: 549300RDGCRYZ5QE6513       | Long             | EC               | CORP              | NL        |       73912 | NS      | $2654937.60   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                                    | Energizer Holdings, Inc.                                                                               | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |     6100000 | PA      | $6034899.58   | 0.07%             | 2028-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                                         | Medline Borrower LP                                                                                    | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3812000 | PA      | $3934405.80   | 0.05%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Axia Energia                                                                | Axia Energia (Preference)                                                                              | CUSIP: N/A<br>LEI: 254900I8KYDELP4B4Z08       | Long             | EC               | CORP              | BR        |      103196 | NS      | $1039852.53   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYM0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |       19000 | PA      | $18716.63     | 0.00%             | 2027-10-21      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| Banca Generali SpA                                                          | Banca Generali SpA                                                                                     | CUSIP: N/A<br>LEI: 815600903231FA2E7698       | Long             | EC               | CORP              | IT        |       21549 | NS      | $1451974.28   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                  | Allison Transmission, Inc.                                                                             | CUSIP: 019736AE7<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |     3337000 | PA      | $3336950.68   | 0.04%             | 2027-10-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                     | Bath & Body Works, Inc.                                                                                | CUSIP: 501797AN4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |       50000 | PA      | $50413.65     | 0.00%             | 2028-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                           | Philip Morris International, Inc.                                                                      | CUSIP: 718172DA4<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |      590000 | PA      | $609053.87    | 0.01%             | 2030-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Archrock Services LP                                                        | Archrock Services LP                                                                                   | CUSIP: 03958CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      670000 | PA      | $669494.49    | 0.01%             | 2034-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                                            | Altice France SA                                                                                       | CUSIP: 02090DAA6<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     2301068 | PA      | $2361533.32   | 0.03%             | 2029-11-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Magnetite XXII Ltd.                                                         | Magnetite Ltd., Series 2019-22A, Class CRR                                                             | CUSIP: 55954HBA9<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |      977000 | PA      | $977694.65    | 0.01%             | 2036-07-15      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| State Street Corp.                                                          | State Street Corp., Series J                                                                           | CUSIP: 857477CM3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     1240000 | PA      | $1297319.00   | 0.02%             | 2029-09-15      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| ADT Security Corp. (The)                                                    | ADT Security Corp. (The)                                                                               | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     6428000 | PA      | $6224641.86   | 0.07%             | 2032-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-HE8, Class M2                                    | CUSIP: 61744CHB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      134843 | PA      | $144915.54    | 0.00%             | 2034-09-25      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2006-4, Class 2A1                                       | CUSIP: 05950AAK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        1723 | PA      | $1579.01      | 0.00%             | 2029-03-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Pampa Energia SA                                                            | Pampa Energia SA                                                                                       | CUSIP: N/A<br>LEI: 254900QNIK0CVURGML24       | Long             | DBT              | CORP              | AR        |      383000 | PA      | $396883.75    | 0.00%             | 2031-09-10      | Fixed         | 7.95%                 | Yes           |                  2 | On Loan: No      |
| KeyCorp                                                                     | KeyCorp                                                                                                | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |      226398 | NS      | $4872084.96   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                       | Alexandria Real Estate Equities, Inc.                                                                  | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |       81827 | NS      | $4471027.28   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The)                                                                            | CUSIP: 89116C4H7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     7189000 | PA      | $7305914.71   | 0.08%             | 2085-10-31      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                                   | Republic of Cote d'Ivoire                                                                              | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |     5240000 | PA      | $5170570.00   | 0.06%             | 2033-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| WPP plc                                                                     | WPP plc                                                                                                | CUSIP: N/A<br>LEI: 549300LSGBXPYHXGDT93       | Long             | EC               | CORP              | JE        |      450232 | NS      | $1867663.28   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Finance North America LLC                                     | Mercedes-Benz Finance North America LLC                                                                | CUSIP: 58769JAZ0<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |      250000 | PA      | $254204.33    | 0.00%             | 2027-11-15      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2004-15F, Class 1A2                                                    | CUSIP: 36242DQU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      133621 | PA      | $86842.71     | 0.00%             | 2034-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wabash National Corp.                                                       | Wabash National Corp.                                                                                  | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |     3500000 | PA      | $3257234.75   | 0.04%             | 2028-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                                         | Cisco Systems, Inc.                                                                                    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |       60971 | NS      | $4775248.72   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                        | Mitsubishi UFJ Financial Group, Inc.                                                                   | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |      605900 | NS      | $10973072.35  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K090, Class X3                        | CUSIP: 3137FLMY7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1750000 | PA      | $120440.95    | 0.00%             | 2029-10-25      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| Entegris, Inc.                                                              | Entegris, Inc., 1st Lien Term Loan B                                                                   | CUSIP: 29362LAM6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      207373 | PA      | $207730.05    | 0.00%             | 2029-07-06      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Vanguard International Semiconductor Corp.                                  | Vanguard International Semiconductor Corp.                                                             | CUSIP: N/A<br>LEI: 2549001S5Q158BIJJO13       | Long             | EC               | CORP              | TW        |      601000 | NS      | $2724392.98   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2005-HE1, Class M2                                    | CUSIP: 61744CKP0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      179749 | PA      | $179598.71    | 0.00%             | 2034-12-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                          | General Motors Financial Co., Inc.                                                                     | CUSIP: 37045XDE3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |      435000 | PA      | $392158.75    | 0.00%             | 2031-01-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     6739000 | PA      | $6410445.58   | 0.07%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                                                 | Adient Global Holdings Ltd.                                                                            | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |     2152000 | PA      | $2234518.44   | 0.03%             | 2033-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: —       |
| WMG Acquisition Corp.                                                       | WMG Acquisition Corp., 1st Lien Term Loan B                                                            | CUSIP: 92929LBA5<br>LEI: 549300NAS11NXI33CP80 | Long             | LON              | CORP              | US        |      534194 | PA      | $535695.08    | 0.01%             | 2031-01-24      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| Venator Materials LLC                                                       | Venator Materials LLC, 1st Lien Term Loan                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      187927 | PA      | $150341.40    | 0.00%             | 2026-02-16      | Variable      | 13.89%                | No            |                  2 | On Loan: No      |
| Stellantis NV                                                               | Stellantis NV                                                                                          | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |       29005 | NS      | $284610.11    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley, Series P                                                                               | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |      144069 | NS      | $3667996.74   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems, Inc.                                             | Advanced Drainage Systems, Inc., 1st Lien Term Loan                                                    | CUSIP: 00769QAG8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      290919 | PA      | $291829.25    | 0.00%             | 2026-07-31      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| AECOM                                                                       | AECOM                                                                                                  | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |     2306000 | PA      | $2362259.48   | 0.03%             | 2033-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Generali                                                                    | Generali                                                                                               | CUSIP: N/A<br>LEI: 549300X5UKJVE386ZB61       | Long             | EC               | CORP              | IT        |       60316 | NS      | $2460315.37   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| DIC Corp.                                                                   | DIC Corp.                                                                                              | CUSIP: N/A<br>LEI: 549300F1YB9ARLPUKB67       | Long             | EC               | CORP              | JP        |        9800 | NS      | $239853.70    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                                             | Madison IAQ LLC, 1st Lien Term Loan                                                                    | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |     3550131 | PA      | $3547929.89   | 0.04%             | 2028-06-21      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Republic of Costa Rica                                                      | Republic of Costa Rica                                                                                 | CUSIP: 221597CV7<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |      819000 | PA      | $912570.75    | 0.01%             | 2054-11-13      | Fixed         | 7.30%                 | Yes           |                  2 | On Loan: No      |
| Wartsila OYJ Abp                                                            | Wartsila OYJ Abp                                                                                       | CUSIP: N/A<br>LEI: 743700G7A9J1PHM3X223       | Long             | EC               | CORP              | FI        |       41344 | NS      | $1676088.27   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2025-1, Class E                                   | CUSIP: 02528DAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      550000 | PA      | $567092.08    | 0.01%             | 2032-12-13      | Fixed         | 7.39%                 | Yes           |                  2 | On Loan: No      |
| Niterra Co. Ltd.                                                            | Niterra Co. Ltd.                                                                                       | CUSIP: N/A<br>LEI: 549300RG3XQGTFM4HH31       | Long             | EC               | CORP              | JP        |        5600 | NS      | $244842.51    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                                     | RHP Hotel Properties LP                                                                                | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     6718000 | PA      | $6620745.53   | 0.08%             | 2029-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C19, Class D                           | CUSIP: 61764PAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1865523 | PA      | $1833267.91   | 0.02%             | 2047-12-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| LABL, Inc.                                                                  | LABL, Inc.                                                                                             | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |      543000 | PA      | $247065.00    | 0.00%             | 2031-10-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      950000 | PA      | $945608.56    | 0.01%             | 2033-04-27      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: 902613BL1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      288000 | PA      | $301011.73    | 0.00%             | 2030-09-13      | Variable      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| PepsiCo, Inc.                                                               | PepsiCo, Inc.                                                                                          | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |       90189 | NS      | $13855736.07  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Nederland Holding BV                                                  | Alcoa Nederland Holding BV                                                                             | CUSIP: 013822AH4<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |     4251000 | PA      | $4496831.08   | 0.05%             | 2031-03-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                                            | Altice France SA                                                                                       | CUSIP: 02090DAE8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     2234758 | PA      | $2182337.51   | 0.03%             | 2032-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| United Urban Investment Corp.                                               | United Urban Investment Corp.                                                                          | CUSIP: N/A<br>LEI: 353800GYZWBD7BDCN841       | Long             | EC               | CORP              | JP        |        1097 | NS      | $1267406.92   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Conduent Business Services LLC                                              | Conduent Business Services LLC                                                                         | CUSIP: 20679LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4030000 | PA      | $3268265.52   | 0.04%             | 2029-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Banca Mediolanum SpA                                                        | Banca Mediolanum SpA                                                                                   | CUSIP: N/A<br>LEI: 7LVZJ6XRIE7VNZ4UBX81       | Long             | EC               | CORP              | IT        |      159776 | NS      | $3748059.26   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Science Applications International Corp.                                    | Science Applications International Corp.                                                               | CUSIP: 808625AB3<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |     1179000 | PA      | $1188276.37   | 0.01%             | 2033-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ping An Insurance Group Co. of China Ltd.                                   | Ping An Insurance Group Co. of China Ltd., Class H                                                     | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | CN        |      924861 | NS      | $8578410.89   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson Matthey plc                                                         | Johnson Matthey plc                                                                                    | CUSIP: N/A<br>LEI: 2138001AVBSD1HSC6Z10       | Long             | EC               | CORP              | GB        |       69559 | NS      | $2249388.54   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2022-4, Class E                                   | CUSIP: 02529XAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      495000 | PA      | $503812.39    | 0.01%             | 2030-01-14      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Ono Pharmaceutical Co. Ltd.                                                 | Ono Pharmaceutical Co. Ltd.                                                                            | CUSIP: N/A<br>LEI: 529900G26L4NG4GFJZ86       | Long             | EC               | CORP              | JP        |       16900 | NS      | $251782.20    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Chemical Group Corp.                                             | Mitsubishi Chemical Group Corp.                                                                        | CUSIP: N/A<br>LEI: 353800YNKX4RQUGAR072       | Long             | EC               | CORP              | JP        |      174600 | NS      | $1152745.01   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YFL4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      673000 | PA      | $696188.38    | 0.01%             | 2035-01-18      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Connect Finco SARL                                                          | Connect Finco SARL, 1st Lien Term Loan                                                                 | CUSIP: L2000DAH7<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |      298481 | PA      | $297063.23    | 0.00%             | 2029-09-13      | Variable      | 8.17%                 | No            |                  2 | On Loan: No      |
| Primo Water Holdings, Inc.                                                  | Primo Water Holdings, Inc.                                                                             | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      300000 | PA      | $293294.64    | 0.00%             | 2029-04-30      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2005-11, Class 4A5                                      | CUSIP: 05948KW54<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      243046 | PA      | $216468.95    | 0.00%             | 2035-12-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Region Group                                                                | Region Group                                                                                           | CUSIP: N/A<br>LEI: 549300MS6NZV0B7K7D28       | Long             | EC               | CORP              | AU        |       94393 | NS      | $151401.16    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                       | NextEra Energy Capital Holdings, Inc.                                                                  | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     1180000 | PA      | $1218712.26   | 0.01%             | 2055-08-15      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2021-195, Class IX                                                                        | CUSIP: 38381ECK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    11030907 | PA      | $989927.91    | 0.01%             | 2063-08-16      | Variable      | 1.21%                 | No            |                  2 | On Loan: No      |
| Harvest Midstream I LP                                                      | Harvest Midstream I LP                                                                                 | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     1581000 | PA      | $1651360.82   | 0.02%             | 2032-05-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The)                                                               | CUSIP: 693475BV6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |      214000 | PA      | $216726.99    | 0.00%             | 2028-01-21      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                                   | Williams Cos., Inc. (The)                                                                              | CUSIP: 969457BY5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |       19000 | PA      | $17390.89     | 0.00%             | 2031-03-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Republic of Ghana                                                           | Republic of Ghana                                                                                      | CUSIP: 374422AM5<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      411250 | PA      | $401959.86    | 0.00%             | 2029-07-03      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                                  | Avis Budget Car Rental LLC                                                                             | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      128000 | PA      | $127932.88    | 0.00%             | 2027-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| JBS NV                                                                      | JBS NV, Class A                                                                                        | CUSIP: N/A<br>LEI: 254900JSFON4WL81TW77       | Long             | EC               | CORP              | NL        |       88523 | NS      | $1394237.25   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson National Life Global Funding                                        | Jackson National Life Global Funding                                                                   | CUSIP: 46849LVA6<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |      250000 | PA      | $254899.33    | 0.00%             | 2027-07-02      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| ATI, Inc.                                                                   | ATI, Inc.                                                                                              | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     1861000 | PA      | $1864196.27   | 0.02%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K061, Class X3                        | CUSIP: 3137BTUQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1527672 | PA      | $24571.08     | 0.00%             | 2044-12-25      | Variable      | 1.96%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-41CB, Class 2A13                                                   | CUSIP: 02149CBD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2075389 | PA      | $979361.58    | 0.01%             | 2037-01-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                | MASTR Alternative Loan Trust, Series 2005-6, Class 1A2                                                 | CUSIP: 576434V68<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      335186 | PA      | $212364.63    | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Power Corp. of Canada                                                       | Power Corp. of Canada                                                                                  | CUSIP: 739239101<br>LEI: 549300BE2CB8T87IJV50 | Long             | EC               | CORP              | CA        |       56197 | NS      | $2834096.86   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ukraine                                                                     | Ukraine Government Bond                                                                                | CUSIP: N/A<br>LEI: 6354001WLTJXOMEXPY07       | Long             | DBT              | NUSS              | UA        |     7020000 | PA      | $3920670.00   | 0.05%             | 2036-02-01      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Benin Government International Bond                                         | Benin Government Bond                                                                                  | CUSIP: N/A<br>LEI: 635400Q11P6AE5A5Y230       | Long             | DBT              | NUSS              | BJ        |     1000000 | PA      | $1045560.00   | 0.01%             | 2038-02-13      | Fixed         | 7.96%                 | Yes           |                  2 | On Loan: No      |
| CGMS Commercial Mortgage Trust                                              | CGMS Commercial Mortgage Trust, Series 2017-B1, Class E                                                | CUSIP: 17326CAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1500000 | PA      | $1072097.85   | 0.01%             | 2050-08-15      | Variable      | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 11.50%, 02/27/2026                                                    | CUSIP: 61780F369<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       19714 | PA      | $3961651.65   | 0.05%             | 2026-02-27      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JW89<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      200000 | PA      | $195600.00    | 0.00%             | 2049-03-01      | Fixed         | 8.70%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 16.80%, 02/20/2026                                                           | CUSIP: 83371Q810<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |       22965 | PA      | $4798356.92   | 0.06%             | 2026-02-20      | Fixed         | 16.80%                | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |     5470000 | PA      | $5349660.00   | 0.06%             | 2049-03-01      | Fixed         | 8.70%                 | Yes           |                  2 | On Loan: No      |
| Erste Group Bank AG                                                         | Erste Group Bank AG                                                                                    | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               | CORP              | AT        |       21833 | NS      | $2838485.68   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuyao Glass Industry Group Co. Ltd.                                         | Fuyao Glass Industry Group Co. Ltd., Class A                                                           | CUSIP: N/A<br>LEI: 549300AS5CSLWETN0P64       | Long             | EC               | CORP              | CN        |      160656 | NS      | $1424553.21   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K060, Class X3                        | CUSIP: 3137BTAF8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      999989 | PA      | $13714.85     | 0.00%             | 2044-12-25      | Variable      | 1.90%                 | No            |                  2 | On Loan: No      |
| NMG Parent LLC                                                              | NMG Parent LLC, Escrow                                                                                 | CUSIP: 629ESC039<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       41340 | NS      | $20670.00     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                                         | Audacy, Inc.                                                                                           | CUSIP: 05070N111<br>LEI: N/A                  | N/A              | DO               |  | US        |       10473 | NS      | $58910.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INEOS Finance plc                                                           | INEOS Finance plc                                                                                      | CUSIP: 44984WAJ6<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |     1780000 | PA      | $1490846.16   | 0.02%             | 2029-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      700000 | PA      | $575333.50    | 0.01%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Multi-Family Connecticut Avenue Securities Trust                            | Multi-Family Connecticut Avenue Securities Trust, Series 2020-01, Class M10                            | CUSIP: 62548QAD3<br>LEI: 5493002KQF9IH3CTQZ40 | Long             | ABS-MBS          | CORP              | US        |     7958421 | PA      | $8078007.38   | 0.09%             | 2050-03-25      | Floating      | 7.56%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325CU7<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     1370000 | PA      | $1011402.50   | 0.01%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325CU7<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      620000 | PA      | $457715.00    | 0.01%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Samsung Fire & Marine Insurance Co. Ltd.                                    | Samsung Fire & Marine Insurance Co. Ltd.                                                               | CUSIP: N/A<br>LEI: 988400JMBDK47EW0Z936       | Long             | EC               | CORP              | KR        |       15799 | NS      | $5499026.68   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon plc                                                                  | Haleon plc                                                                                             | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |     1054524 | NS      | $5515058.82   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      112788 | NS      | $20617646.40  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilcorp Energy I LP                                                         | Hilcorp Energy I LP                                                                                    | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      527000 | PA      | $507884.51    | 0.01%             | 2034-05-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                                       | Nomura Holdings, Inc.                                                                                  | CUSIP: N/A<br>LEI: 549300B3CEAHYG7K8164       | Long             | EC               | CORP              | JP        |       90400 | NS      | $819235.44    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Banc of America Mortgage Trust                                              | Banc of America Mortgage Trust, Series 2004-A, Class 2A2                                               | CUSIP: 05948XT27<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      144040 | PA      | $141799.95    | 0.00%             | 2034-02-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                                     | RHP Hotel Properties LP                                                                                | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     6905000 | PA      | $6899512.60   | 0.08%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: 03846JAG5<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     1175000 | PA      | $1321875.00   | 0.02%             | 2033-02-04      | Fixed         | 9.45%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95000U2F9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      250000 | PA      | $249249.28    | 0.00%             | 2027-06-17      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397D26<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     1864000 | PA      | $1878352.32   | 0.02%             | 2026-06-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Escrow Rite Aid                                                             | Escrow Rite Aid                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |      967547 | PA      | $0.01         | 0.00%             | 2049-12-31      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| Cencora, Inc.                                                               | Cencora, Inc.                                                                                          | CUSIP: 03073EAT2<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |     1125000 | PA      | $1037302.02   | 0.01%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                                  | Builders FirstSource, Inc.                                                                             | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     1149000 | PA      | $1207172.72   | 0.01%             | 2035-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Finance America Mortgage Loan Trust                                         | Finance America Mortgage Loan Trust, Series 2004-3, Class M2                                           | CUSIP: 317350BU9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      139040 | PA      | $132835.84    | 0.00%             | 2034-11-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                                | Tallgrass Energy Partners LP                                                                           | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4842000 | PA      | $4872591.76   | 0.06%             | 2031-09-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile US, Inc.                                                           | T-Mobile US, Inc.                                                                                      | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       19760 | NS      | $3896869.60   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Bleriot US Bidco, Inc.                                                      | Bleriot US Bidco, Inc., 1st Lien Term Loan                                                             | CUSIP: 09353TAJ9<br>LEI: 254900ALCQ2A2VYD5Z08 | Long             | LON              | CORP              | US        |      314490 | PA      | $314210.56    | 0.00%             | 2030-10-31      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Minerva Luxembourg SA                                                       | Minerva Luxembourg SA                                                                                  | CUSIP: 603374AH2<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |     1778000 | PA      | $1938597.85   | 0.02%             | 2033-09-13      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust                                            | Provident Funding Mortgage Trust, Series 2025-3, Class A1                                              | CUSIP: 74388PAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5696989 | PA      | $5762595.11   | 0.07%             | 2055-08-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                                      | Lendmark Funding Trust, Series 2025-2A, Class A                                                        | CUSIP: 52603GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      950000 | PA      | $958090.11    | 0.01%             | 2034-10-20      | Fixed         | 4.78%                 | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                         | American Axle & Manufacturing, Inc.                                                                    | CUSIP: 02406PBA7<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     3337000 | PA      | $3340557.24   | 0.04%             | 2028-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Matador Resources Co.                                                       | Matador Resources Co.                                                                                  | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |     1849000 | PA      | $1882740.55   | 0.02%             | 2032-04-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Somnigroup International, Inc.                                              | Somnigroup International, Inc.                                                                         | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |     7200000 | PA      | $6985154.16   | 0.08%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: 06738ECR4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |      221000 | PA      | $230131.53    | 0.00%             | 2030-03-12      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                                         | Lithia Motors, Inc.                                                                                    | CUSIP: 536797AJ2<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |      869000 | PA      | $872860.76    | 0.01%             | 2030-10-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| United Airlines Holdings, Inc.                                              | United Airlines Holdings, Inc.                                                                         | CUSIP: 910047AL3<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |     1080000 | PA      | $1090725.51   | 0.01%             | 2031-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |      830000 | PA      | $619468.76    | 0.01%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Griffon Corp.                                                               | Griffon Corp.                                                                                          | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |     4655000 | PA      | $4653680.31   | 0.05%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 07.30%, 02/13/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       14666 | PA      | $5236807.61   | 0.06%             | 2026-02-13      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Vonovia SE                                                                  | Vonovia SE                                                                                             | CUSIP: N/A<br>LEI: 5299005A2ZEP6AP7KM81       | Long             | EC               | CORP              | DE        |       41587 | NS      | $1217637.83   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR18, Class 1A3A                            | CUSIP: 92922F8M3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       23841 | PA      | $23091.57     | 0.00%             | 2036-01-25      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2023-4, Class A1                                                      | CUSIP: 12598WAA0<br>LEI: 213800EHDFO4A3F7P416 | Long             | ABS-MBS          | CORP              | US        |     2773345 | PA      | $2809078.23   | 0.03%             | 2068-10-25      | Variable      | 7.16%                 | Yes           |                  2 | On Loan: No      |
| Norsk Hydro ASA                                                             | Norsk Hydro ASA                                                                                        | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |      341000 | NS      | $3027358.61   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Archrock Partners LP                                                        | Archrock Partners LP                                                                                   | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2631000 | PA      | $2637624.86   | 0.03%             | 2028-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                                    | SBA Communications Corp.                                                                               | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |      990000 | PA      | $945560.63    | 0.01%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 19.00%, 02/20/2026                                                           | CUSIP: 83371Q844<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |       37393 | PA      | $4400657.00   | 0.05%             | 2026-02-20      | Fixed         | 19.00%                | No            |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: 06738ECP8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |      350000 | PA      | $355984.59    | 0.00%             | 2028-03-12      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Block, Inc.                                                                 | Block, Inc.                                                                                            | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     1217000 | PA      | $1243144.62   | 0.01%             | 2033-08-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Altria Group, Inc.                                                          | Altria Group, Inc.                                                                                     | CUSIP: 02209SBT9<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |      185000 | PA      | $191976.49    | 0.00%             | 2035-02-06      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      983000 | PA      | $977816.92    | 0.01%             | 2028-03-24      | Variable      | 3.53%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                                                   | OBX Trust, Series 2026-NQM2, Class A1B                                                                 | CUSIP: 67123VAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      210000 | PA      | $209799.70    | 0.00%             | 2065-12-01      | Variable      | 4.82%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J14, Class A8                                                      | CUSIP: 12668AQ73<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      841183 | PA      | $492788.29    | 0.01%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Altar Bidco, Inc.                                                           | Altar Bidco, Inc., 2nd Lien Term Loan                                                                  | CUSIP: 02090CAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      218750 | PA      | $205078.13    | 0.00%             | 2030-02-01      | Variable      | 9.11%                 | No            |                  2 | On Loan: No      |
| MetLife Capital Trust IV                                                    | MetLife Capital Trust IV                                                                               | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     8747000 | PA      | $9681039.65   | 0.11%             | 2037-12-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                           | Philip Morris International, Inc.                                                                      | CUSIP: 718172DT3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |      895000 | PA      | $900297.64    | 0.01%             | 2030-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                        | American Tower Corp.                                                                                   | CUSIP: 03027XBC3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |       27000 | PA      | $24583.18     | 0.00%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Republic of Zambia                                                          | Republic of Zambia                                                                                     | CUSIP: 988895AR9<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     1084092 | PA      | $778378.06    | 0.01%             | 2053-12-31      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: —       |
| Virtusa Corp.                                                               | Virtusa Corp., 1st Lien Term Loan B-2                                                                  | CUSIP: 92828KAP7<br>LEI: C77OMXDER63WLJCSKT03 | Long             | LON              | CORP              | US        |      513871 | PA      | $504878.34    | 0.01%             | 2029-02-15      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                     | BNP Paribas Issuance BV, ELN, 11.20%, 02/27/2026                                                       | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |       30096 | PA      | $4490163.59   | 0.05%             | 2026-02-27      | Fixed         | 11.20%                | Yes           |                  2 | On Loan: No      |
| New Albertsons LP                                                           | New Albertsons LP                                                                                      | CUSIP: 013104AL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2108000 | PA      | $2305502.74   | 0.03%             | 2031-05-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Cipher Compute LLC                                                          | Cipher Compute LLC                                                                                     | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2553000 | PA      | $2630639.28   | 0.03%             | 2030-11-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-6CB, Class 1A6                                                     | CUSIP: 12667F5H4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      192199 | PA      | $162963.05    | 0.00%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HP, Inc.                                                                    | HP, Inc.                                                                                               | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |      179787 | NS      | $3495059.28   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust, Series 2018-L1, Class E                                                | CUSIP: 61691QAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5486000 | PA      | $4382221.19   | 0.05%             | 2051-10-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Hang Lung Properties Ltd.                                                   | Hang Lung Properties Ltd.                                                                              | CUSIP: N/A<br>LEI: 529900CIVTNMXQT59E61       | Long             | EC               | CORP              | HK        |      913000 | NS      | $1101692.65   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                                           | Lowe's Cos., Inc.                                                                                      | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      103481 | NS      | $27635635.86  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2023-2, Class E                                   | CUSIP: 02529YAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      900000 | PA      | $932965.83    | 0.01%             | 2030-02-12      | Fixed         | 9.79%                 | Yes           |                  2 | On Loan: No      |
| Staples, Inc.                                                               | Staples, Inc.                                                                                          | CUSIP: 855030AS1<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |     4892325 | PA      | $4005896.37   | 0.05%             | 2030-01-15      | Fixed         | 12.75%                | Yes           |                  2 | On Loan: No      |
| Analog Devices, Inc.                                                        | Analog Devices, Inc.                                                                                   | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |       62831 | NS      | $19532901.28  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1330000 | PA      | $1193525.19   | 0.01%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Resonetics LLC                                                              | Resonetics LLC, 1st Lien Term Loan                                                                     | CUSIP: 76118EAL2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      361197 | PA      | $360745.94    | 0.00%             | 2031-06-18      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| TIM SA                                                                      | TIM SA                                                                                                 | CUSIP: N/A<br>LEI: 529900QI0CH1DN5ZCS77       | Long             | EC               | CORP              | BR        |     1018100 | NS      | $4729950.12   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2007-S1, Class 2A17                                                    | CUSIP: 46630RAW1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3541379 | PA      | $931799.12    | 0.01%             | 2037-03-25      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                                                   | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     7189000 | PA      | $7496710.77   | 0.09%             | 2031-02-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Go Daddy Operating Co. LLC                                                  | Go Daddy Operating Co. LLC, 1st Lien Term Loan B-8                                                     | CUSIP: 38017BAX4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      489869 | PA      | $486748.34    | 0.01%             | 2029-11-09      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| ANTA Sports Products Ltd.                                                   | ANTA Sports Products Ltd.                                                                              | CUSIP: N/A<br>LEI: 529900291XG0CTK4LF95       | Long             | EC               | CORP              | KY        |      285973 | NS      | $2856852.55   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Graham Packaging Co., Inc.                                                  | Graham Packaging Co., Inc., 1st Lien Term Loan B                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     1677333 | PA      | $1674532.18   | 0.02%             | 2033-01-14      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2006-1, Class 2A1                                       | CUSIP: 59020U4S1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      343066 | PA      | $335213.17    | 0.00%             | 2036-02-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co. Ltd.                                    | Contemporary Amperex Technology Co. Ltd., Class A                                                      | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |      101300 | NS      | $5102457.15   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Nationwide Building Society                                                 | Nationwide Building Society                                                                            | CUSIP: 63861VAK3<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |      663000 | PA      | $682169.20    | 0.01%             | 2029-07-29      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2006-AF2, Class AF2                                     | CUSIP: 59023NAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      144152 | PA      | $49113.00     | 0.00%             | 2036-10-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-KF40, Class B                                                        | CUSIP: 30306JAG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      978302 | PA      | $942140.99    | 0.01%             | 2027-11-25      | Floating      | 6.60%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC MSCR Trust, Series 2021-MN1, Class M1                                                            | CUSIP: 35563FAA9<br>LEI: 549300XWC4JMK6CH6K84 | Long             | ABS-MBS          | USGSE             | US        |      112262 | PA      | $112028.27    | 0.00%             | 2051-01-25      | Floating      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| British Land Co. plc (The)                                                  | British Land Co. plc (The)                                                                             | CUSIP: N/A<br>LEI: RV5B68J2GV3QGMRPW209       | Long             | EC               | CORP              | GB        |      263082 | NS      | $1500601.12   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DT Midstream, Inc.                                                          | DT Midstream, Inc.                                                                                     | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4705000 | PA      | $4651253.84   | 0.05%             | 2029-06-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     2152000 | PA      | $2174460.42   | 0.03%             | 2036-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     2749000 | PA      | $2938801.96   | 0.03%             | 2029-03-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| South Korea Won                                                             | South Korea Won                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | KR        |      118963 | OU      | $82.65        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Turkiye (The)                                                   | Republic of Turkiye (The)                                                                              | CUSIP: 900123DK3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     1300000 | PA      | $1381198.00   | 0.02%             | 2034-05-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565CD4<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      187000 | PA      | $186770.10    | 0.00%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc., Series A                                                                        | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     1754000 | PA      | $1826688.20   | 0.02%             | 2055-02-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                                  | AerCap Ireland Capital DAC                                                                             | CUSIP: 00774MBG9<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |      499000 | PA      | $512093.14    | 0.01%             | 2027-04-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Upstart Pass-Through Trust                                                  | Upstart Pass-Through Trust, Series 2022-PT4, Class A                                                   | CUSIP: 91683RAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      455709 | PA      | $455709.18    | 0.01%             | 2030-05-20      | Variable      | 19.28%                | Yes           |                  3 | On Loan: No      |
| Securitized Asset-Backed Receivables LLC Trust                              | Securitized Asset-Backed Receivables LLC Trust, Series 2005-OP1, Class M2                              | CUSIP: 81375WCT1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      283216 | PA      | $262385.37    | 0.00%             | 2035-01-25      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| Frontier Real Estate Investment Corp.                                       | Frontier Real Estate Investment Corp.                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |         480 | NS      | $282781.31    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Unibail-Rodamco-Westfield                                                   | Unibail-Rodamco-Westfield                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | FR        |       15409 | NS      | $1703696.59   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Resources Corp.                                                      | Antero Resources Corp.                                                                                 | CUSIP: 03674XAQ9<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |     1744000 | PA      | $1770419.86   | 0.02%             | 2029-02-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| National Grid plc                                                           | National Grid plc                                                                                      | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |      250507 | NS      | $4256002.44   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA ACES, Series 2019-M21, Class X2                                                                   | CUSIP: 3136B6XA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    82080453 | PA      | $3904665.63   | 0.05%             | 2031-02-25      | Variable      | 1.28%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc., 1st Lien Term Loan B                                                       | CUSIP: 45174UAJ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     5873999 | PA      | $5364077.14   | 0.06%             | 2029-05-01      | Variable      | 9.56%                 | No            |                  2 | On Loan: No      |
| Adjustable Rate Mortgage Trust                                              | Adjustable Rate Mortgage Trust, Series 2004-2, Class 6A1                                               | CUSIP: 007036BU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       30618 | PA      | $30464.54     | 0.00%             | 2035-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Roche Holding AG                                                            | Roche Holding AG                                                                                       | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |       28065 | NS      | $12762276.04  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                                                  | Allianz SE (Registered)                                                                                | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |       43908 | NS      | $19333666.00  | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Chase Funding Trust                                                         | Chase Funding Trust, Series 2004-1, Class 1M1                                                          | CUSIP: 161546HV1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      840570 | PA      | $808358.79    | 0.01%             | 2033-05-25      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Ascent Resources Utica Holdings LLC                                         | Ascent Resources Utica Holdings LLC                                                                    | CUSIP: 04364VAX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1412000 | PA      | $1463361.47   | 0.02%             | 2032-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                  | Corebridge Financial, Inc.                                                                             | CUSIP: 21871XAU3<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |     9637000 | PA      | $10012534.62  | 0.12%             | 2030-12-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Bolivarian Republic of Venezuela                                            | Bolivarian Republic of Venezuela                                                                       | CUSIP: N/A<br>LEI: 529900XM8PJTJK5OJI77       | Long             | DBT              | NUSS              | VE        |     3660000 | PA      | $1599420.00   | 0.02%             | 2031-08-05      | Fixed         | 11.95%                | Yes           |                  2 | On Loan: No      |
| Barbados                                                                    | Barbados Government Bond                                                                               | CUSIP: 067070AK8<br>LEI: 529900UD1KUUS4SFD905 | Long             | DBT              | NUSS              | BB        |     1931000 | PA      | $2068101.00   | 0.02%             | 2035-06-26      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC STACR REMIC Trust, Series 2023-HQA2, Class M2                                                    | CUSIP: 35564K2K4<br>LEI: 5493000KIGZAWUOW4E32 | Long             | ABS-MBS          | CORP              | US        |     2800000 | PA      | $2952264.00   | 0.03%             | 2043-06-25      | Floating      | 7.55%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325EU5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      959000 | PA      | $958041.00    | 0.01%             | 2031-01-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2022-1, Class B2                                          | CUSIP: 24382JAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5639881 | PA      | $4445664.96   | 0.05%             | 2067-01-25      | Variable      | 4.26%                 | Yes           |                  2 | On Loan: No      |
| Aethon United BR LP                                                         | Aethon United BR LP                                                                                    | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      892000 | PA      | $938648.03    | 0.01%             | 2029-10-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                     | Raizen Fuels Finance SA                                                                                | CUSIP: N/A<br>LEI: 52990010NH26VC32Q522       | Long             | DBT              | CORP              | LU        |     2600000 | PA      | $2138500.00   | 0.02%             | 2034-03-05      | Fixed         | 6.45%                 | Yes           |                  2 | On Loan: No      |
| Magnetite XXII Ltd.                                                         | Magnetite Ltd., Series 2019-22A, Class BRR                                                             | CUSIP: 55954HAY8<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |     1018000 | PA      | $1018852.07   | 0.01%             | 2036-07-15      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDP4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |     4025000 | PA      | $4685422.00   | 0.05%             | 2033-02-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: —       |
| Gray Media, Inc.                                                            | Gray Media, Inc., 1st Lien Term Loan D                                                                 | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |      361111 | PA      | $359240.35    | 0.00%             | 2028-12-01      | Variable      | 6.81%                 | No            |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                                | Tallgrass Energy Partners LP                                                                           | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1508000 | PA      | $1563301.38   | 0.02%             | 2029-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: 65412AFG2<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     2490000 | PA      | $2670525.00   | 0.03%             | 2046-01-13      | Fixed         | 9.13%                 | Yes           |                  2 | On Loan: No      |
| Aker BP ASA                                                                 | Aker BP ASA                                                                                            | CUSIP: N/A<br>LEI: 549300NFTY73920OYK69       | Long             | EC               | CORP              | NO        |       83748 | NS      | $2465365.71   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 19.40%, 02/27/2026                                                           | CUSIP: 83371Q885<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |       18808 | PA      | $4489862.71   | 0.05%             | 2026-02-27      | Fixed         | 19.40%                | No            |                  2 | On Loan: No      |
| CWABS Asset-Backed Certificates Trust                                       | CWABS Asset-Backed Certificates Trust, Series 2005-11, Class AF6                                       | CUSIP: 126670CL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       16389 | PA      | $16198.57     | 0.00%             | 2036-02-25      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                                                | Drive Auto Receivables Trust, Series 2025-2, Class D                                                   | CUSIP: 262103AG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1050000 | PA      | $1052131.61   | 0.01%             | 2032-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Enviri Corp.                                                                | Enviri Corp., 1st Lien Term Loan B-3                                                                   | CUSIP: 41587CAR9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | LON              | CORP              | US        |      689653 | PA      | $686776.70    | 0.01%             | 2028-06-09      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     1470000 | PA      | $1208200.35   | 0.01%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Republic of Ghana                                                           | Republic of Ghana                                                                                      | CUSIP: 374422AL7<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |       45054 | PA      | $44152.92     | 0.00%             | 2026-07-03      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkiye (The)                                                   | Republic of Turkiye (The)                                                                              | CUSIP: 900123CB4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      510000 | PA      | $382953.90    | 0.00%             | 2043-04-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2020-89, Class IA                                                                         | CUSIP: 38380PTL8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     3175101 | PA      | $255071.78    | 0.00%             | 2062-04-16      | Variable      | 1.17%                 | No            |                  2 | On Loan: No      |
| Neon Maple US Debt Mergersub, Inc.                                          | Neon Maple US Debt Mergersub, Inc., 1st Lien Term Loan B-1                                             | CUSIP: 69425BAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     4983516 | PA      | $4931886.33   | 0.06%             | 2031-11-17      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                                        | American Express Co.                                                                                   | CUSIP: 025816DG1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |      250000 | PA      | $251690.83    | 0.00%             | 2027-07-28      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325BK0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     1000000 | PA      | $1022000.00   | 0.01%             | 2037-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                                     | SS&C Technologies, Inc., 1st Lien Term Loan B-8                                                        | CUSIP: 78466DBJ2<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |      418335 | PA      | $417954.69    | 0.00%             | 2031-05-09      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                           | Enterprise Products Operating LLC, Series E                                                            | CUSIP: 29379VBN2<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     3227000 | PA      | $3214354.03   | 0.04%             | 2077-08-16      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                    | Bausch Health Cos., Inc.                                                                               | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     1413000 | PA      | $1307003.79   | 0.02%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Endo Finance Holdings LP                                                    | Endo Finance Holdings LP                                                                               | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      900000 | PA      | $952296.30    | 0.01%             | 2031-04-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series EE                                                                             | CUSIP: 172967PR6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     1880000 | PA      | $1917138.01   | 0.02%             | 2030-02-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2026-2, Class GZ                                                                          | CUSIP: 38385LEL8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     1640000 | PA      | $1559025.00   | 0.02%             | 2056-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Vale Overseas Ltd.                                                          | Vale Overseas Ltd.                                                                                     | CUSIP: 91911TAQ6<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |       12000 | PA      | $11552.52     | 0.00%             | 2030-07-08      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |      800000 | PA      | $620800.00    | 0.01%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                                         | Constellation Energy Generation LLC                                                                    | CUSIP: 210385AG5<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |     1062000 | PA      | $1062050.78   | 0.01%             | 2029-02-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Exelon Corp.                                                                | Exelon Corp.                                                                                           | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |       94085 | NS      | $4213126.30   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos, Inc.                                                                | Leidos, Inc.                                                                                           | CUSIP: 52532XAK1<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |      207000 | PA      | $215199.06    | 0.00%             | 2032-03-15      | Fixed         | 5.40%                 | 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        |     6373073 | PA      | $6356375.77   | 0.07%             | 2028-03-03      | Variable      | 7.18%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                                               | Federative Republic of Brazil                                                                          | CUSIP: 105756CB4<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      620000 | PA      | $455700.00    | 0.01%             | 2050-01-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2450000 | PA      | $2370931.89   | 0.03%             | 2028-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC MSCR Trust, Series 2021-MN1, Class B1                                                            | CUSIP: 35563FAC5<br>LEI: 549300XWC4JMK6CH6K84 | Long             | ABS-MBS          | USGSE             | US        |     2649545 | PA      | $2936329.10   | 0.03%             | 2051-01-25      | Floating      | 11.45%                | Yes           |                  2 | On Loan: No      |
| Alumina Pty. Ltd.                                                           | Alumina Pty. Ltd.                                                                                      | CUSIP: 02220AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |     1222000 | PA      | $1260565.10   | 0.01%             | 2030-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2004-AR10, Class A1B                             | CUSIP: 92922FWU8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      290775 | PA      | $282023.98    | 0.00%             | 2044-07-25      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Brown-Forman Corp.                                                          | Brown-Forman Corp., Class B                                                                            | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Long             | EC               | CORP              | US        |      153659 | NS      | $4205646.83   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co.                                                               | Organon & Co.                                                                                          | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4848000 | PA      | $4755012.94   | 0.06%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| FS Luxembourg Sarl                                                          | FS Luxembourg SARL                                                                                     | CUSIP: N/A<br>LEI: 222100EKR3JUJPGGOY81       | Long             | DBT              | CORP              | LU        |      700000 | PA      | $738318.00    | 0.01%             | 2031-02-12      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |      850000 | PA      | $699244.00    | 0.01%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances, Inc.                                    | International Flavors & Fragrances, Inc.                                                               | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |       47763 | NS      | $3334335.03   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Nutresa SA                                                            | Grupo Nutresa SA                                                                                       | CUSIP: N/A<br>LEI: 254900KKAX7B7RJUE255       | Long             | DBT              | CORP              | CO        |     1000000 | PA      | $1115500.00   | 0.01%             | 2035-05-12      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-4, Class CB7             | CUSIP: 9393366B4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      223169 | PA      | $207106.30    | 0.00%             | 2035-06-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Genesee & Wyoming, Inc.                                                     | Genesee & Wyoming, Inc., 1st Lien Term Loan                                                            | CUSIP: 37156QAZ9<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |      695038 | PA      | $693765.98    | 0.01%             | 2031-04-10      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Maruti Suzuki India Ltd.                                                    | Maruti Suzuki India Ltd.                                                                               | CUSIP: N/A<br>LEI: 335800D27PBEESKKD357       | Long             | EC               | CORP              | IN        |       10881 | NS      | $1728646.73   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Chevron Corp.                                                               | Chevron Corp.                                                                                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       83545 | NS      | $14779110.50  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global LNG, Inc.                                                    | Venture Global LNG, Inc.                                                                               | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     1985000 | PA      | $2030287.78   | 0.02%             | 2031-06-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: —       |
| WP Carey, Inc.                                                              | WP Carey, Inc.                                                                                         | CUSIP: 92936UAG4<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |       33000 | PA      | $29812.13     | 0.00%             | 2031-02-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| TopBuild Corp.                                                              | TopBuild Corp.                                                                                         | CUSIP: 89055FAD5<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |     1394000 | PA      | $1406557.15   | 0.02%             | 2034-01-31      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Dryden 64 CLO Ltd.                                                          | Dryden CLO Ltd., Series 2018-64A, Class A                                                              | CUSIP: 26251LAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      356691 | PA      | $356812.61    | 0.00%             | 2031-04-18      | Floating      | 4.90%                 | Yes           |                  2 | On Loan: No      |
| Axon Enterprise, Inc.                                                       | Axon Enterprise, Inc.                                                                                  | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |      680000 | PA      | $704582.00    | 0.01%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Kenya                                                           | Republic of Kenya                                                                                      | CUSIP: 491798AQ7<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     3328000 | PA      | $3371264.00   | 0.04%             | 2038-10-09      | Fixed         | 8.80%                 | Yes           |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                                | Antero Midstream Partners LP                                                                           | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4232000 | PA      | $4239329.82   | 0.05%             | 2029-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 06051GMA4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      673000 | PA      | $697820.43    | 0.01%             | 2035-01-23      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 12.50%, 02/06/2026                                                           | CUSIP: 83371Q570<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |       19842 | PA      | $3809556.57   | 0.04%             | 2026-02-06      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                       | OneMain Finance Corp.                                                                                  | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     1785000 | PA      | $1762743.37   | 0.02%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Keyera Corp.                                                                | Keyera Corp.                                                                                           | CUSIP: 493271100<br>LEI: 254900LXI62FUHZGH122 | Long             | EC               | CORP              | CA        |       34983 | NS      | $1184640.79   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2012-C5, Class G                            | CUSIP: 61761AAN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1500000 | PA      | $1308780.00   | 0.02%             | 2045-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | EC               | CORP              | FR        |       35066 | NS      | $759404.41    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TietoEVRY OYJ                                                               | TietoEVRY OYJ                                                                                          | CUSIP: N/A<br>LEI: 549300EW2KM4KROKQV31       | Long             | EC               | CORP              | FI        |       44169 | NS      | $958810.22    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-KL1E, Class BE                                                       | CUSIP: 35708RAN1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      186318 | PA      | $177074.58    | 0.00%             | 2027-02-25      | Variable      | 3.91%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC STACR REMIC Trust, Series 2022-HQA2, Class M1A                                                   | CUSIP: 35564KB24<br>LEI: 5493000IRLADKYZNON28 | Long             | ABS-MBS          | CORP              | US        |     9199543 | PA      | $9374213.21   | 0.11%             | 2042-07-25      | Floating      | 6.35%                 | Yes           |                  2 | On Loan: No      |
| Kyrgyz Republic International Bond                                          | Kyrgyz Republic International Bond                                                                     | CUSIP: 50158LAA6<br>LEI: N/A                  | Long             | DBT              | NUSS              | KG        |     1960000 | PA      | $2032887.50   | 0.02%             | 2030-06-03      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs International                                                 | Goldman Sachs International, ELN, 10.50%, 02/20/2026                                                   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | Long             | SN               | CORP              | GB        |       18164 | PA      | $18825296.57  | 0.22%             | 2026-02-20      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: 22535WAB3<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |      482000 | PA      | $483245.17    | 0.01%             | 2027-01-10      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                        | LHOME Mortgage Trust, Series 2024-RTL1, Class A1                                                       | CUSIP: 50205DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4025000 | PA      | $4047682.49   | 0.05%             | 2029-01-25      | Variable      | 7.02%                 | Yes           |                  2 | On Loan: No      |
| Keenova Therapeutics plc                                                    | Keenova Therapeutics PLC                                                                               | CUSIP: N/A<br>LEI: 549300LMDE3RUP8Z3L60       | Long             | EC               | CORP              | IE        |  3008864304 | NS      | $3008.86      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada                                                                                   | CUSIP: 780082AV5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     2670000 | PA      | $2761108.41   | 0.03%             | 2085-08-24      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Bankinter SA                                                                | Bankinter SA                                                                                           | CUSIP: N/A<br>LEI: VWMYAEQSTOPNV0SUGU82       | Long             | EC               | CORP              | ES        |       59299 | NS      | $1012232.81   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Seagate Technology Holdings plc                                             | Seagate Technology Holdings plc                                                                        | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | IE        |       16980 | NS      | $6922576.20   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| EMRLD Borrower LP                                                           | EMRLD Borrower LP                                                                                      | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     8772000 | PA      | $9079695.44   | 0.11%             | 2030-12-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                  | Cloud Software Group, Inc., 1st Lien Term Loan B                                                       | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |      258053 | PA      | $249909.09    | 0.00%             | 2031-03-21      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Home Equity Asset-Backed Securities Trust                       | Wells Fargo Home Equity Asset-Backed Securities Trust, Series 2004-2, Class M8A                        | CUSIP: 94980GAV3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      289567 | PA      | $305404.72    | 0.00%             | 2034-10-25      | Floating      | 8.29%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                         | Forward Foreign Currency Contract                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-34518.99    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The), ELN, 27.30%, 02/27/2026                                                   | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | Long             | SN               | CORP              | CA        |       19993 | PA      | $4998750.35   | 0.06%             | 2026-02-27      | Fixed         | 27.30%                | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2025-112                                                                                  | CUSIP: 38381MUH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    18191206 | PA      | $933394.41    | 0.01%             | 2066-03-16      | Variable      | 0.57%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                                                           | Transcanada Trust                                                                                      | CUSIP: 89356BAE8<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |     7546000 | PA      | $7528534.78   | 0.09%             | 2079-09-15      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA                                                         | Wells Fargo Bank NA, ELN, 31.30%, 02/06/2026                                                           | CUSIP: 95005A607<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | SN               | CORP              | US        |       10811 | PA      | $4221265.97   | 0.05%             | 2026-02-06      | Fixed         | 31.30%                | No            |                  2 | On Loan: No      |
| Shift4 Payments LLC                                                         | Shift4 Payments LLC                                                                                    | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2583000 | PA      | $2635155.94   | 0.03%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| PG&E Corp.                                                                  | PG&E Corp.                                                                                             | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     3698000 | PA      | $3690154.69   | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                                          | Cinemark USA, Inc.                                                                                     | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |     2060000 | PA      | $2057961.84   | 0.02%             | 2028-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                                                 | Adient Global Holdings Ltd.                                                                            | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |     5839000 | PA      | $6117981.58   | 0.07%             | 2031-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Target Corp.                                                                | Target Corp.                                                                                           | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |       44116 | NS      | $4652914.52   | 0.05%             |  |  |  | No            |                  1 | 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        |     3115338 | PA      | $2925925.71   | 0.03%             | 2028-06-28      | Variable      | 8.79%                 | No            |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                                             | Live Nation Entertainment, Inc.                                                                        | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     2163000 | PA      | $2132811.87   | 0.02%             | 2028-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Alt-A Securities, Inc. Mortgage Loan Trust                         | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, Series 2005-1, Class 2A1                          | CUSIP: 251510CX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       10486 | PA      | $10254.94     | 0.00%             | 2020-02-25      | Variable      | 3.41%                 | No            |                  2 | On Loan: No      |
| Hashemite Kingdom of Jordan                                                 | Hashemite Kingdom of Jordan                                                                            | CUSIP: N/A<br>LEI: 5493000JZ4MYPVMBVN50       | Long             | DBT              | NUSS              | JO        |      400000 | PA      | $401096.00    | 0.00%             | 2030-07-07      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                                            | Deutsche Bank AG                                                                                       | CUSIP: 25161DAG8<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | STIV             | CORP              | DE        |      151000 | PA      | $151273.52    | 0.00%             | 2026-07-08      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA, REMIC, Series 2025-106, Class UZ                                                                 | CUSIP: 3136BYBF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      520297 | PA      | $517263.22    | 0.01%             | 2055-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series KC04, Class X1                        | CUSIP: 3137FMCG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     6480202 | PA      | $69662.17     | 0.00%             | 2026-12-25      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| Australian Dollar                                                           | Australian Dollar                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | AU        |       33483 | OU      | $23316.19     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325DS1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      800000 | PA      | $694880.00    | 0.01%             | 2031-04-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                             | TransDigm, Inc., 1st Lien Term Loan M                                                                  | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |     5506200 | PA      | $5501409.61   | 0.06%             | 2032-08-19      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    19087000 | PA      | $17938743.26  | 0.21%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                           | Credit Acceptance Auto Loan Trust, Series 2024-1A, Class A                                             | CUSIP: 22537GAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      364000 | PA      | $366753.37    | 0.00%             | 2034-03-15      | Fixed         | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), Escrow                                                                              | CUSIP: 428ESCAD9<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     5450000 | PA      | $545.00       | 0.00%             | 2028-01-15      | Fixed         | 6.00%                 | No            |                  3 | On Loan: No      |
| ConocoPhillips                                                              | ConocoPhillips                                                                                         | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |        9121 | NS      | $950681.83    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K093, Class X3                        | CUSIP: 3137FMCU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    15000000 | PA      | $983080.50    | 0.01%             | 2047-05-25      | Variable      | 2.21%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     2052000 | PA      | $2049202.08   | 0.02%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |      550000 | PA      | $535920.00    | 0.01%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2016-GS2, Class D                                                 | CUSIP: 36252TAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2750000 | PA      | $2393040.10   | 0.03%             | 2049-05-10      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte. Ltd.                                   | Seagate Data Storage Technology Pte. Ltd.                                                              | CUSIP: 81180LAM7<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     2265000 | PA      | $2392463.12   | 0.03%             | 2029-12-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                                           | American Electric Power Co., Inc.                                                                      | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |       39723 | NS      | $4757822.33   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust, Inc.                                               | Starwood Property Trust, Inc.                                                                          | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     1162000 | PA      | $1225471.93   | 0.01%             | 2029-04-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: 902613BW7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     1346000 | PA      | $1362560.94   | 0.02%             | 2036-01-08      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Icon Parent I, Inc.                                                         | Icon Parent I, Inc., 1st Lien Term Loan                                                                | CUSIP: 45115DAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     4670083 | PA      | $4588356.58   | 0.05%             | 2031-11-13      | Variable      | 6.44%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing III LLC                                             | Hertz Vehicle Financing LLC, Series 2025-4A, Class D                                                   | CUSIP: 42806MDJ5<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |      250000 | PA      | $267153.03    | 0.00%             | 2031-12-25      | Fixed         | 9.34%                 | Yes           |                  2 | On Loan: No      |
| Saks Global Enterprises LLC                                                 | Saks Global Enterprises LLC                                                                            | CUSIP: 79380MAB1<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |     1849686 | PA      | $4624.22      | 0.00%             | 2029-12-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: —       |
| Glencore Funding LLC                                                        | Glencore Funding LLC                                                                                   | CUSIP: 378272BG2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     1229000 | PA      | $1113262.53   | 0.01%             | 2031-09-23      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 12.80%, 02/27/2026                                                    | CUSIP: 61780F351<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       69332 | PA      | $3809746.44   | 0.04%             | 2026-02-27      | Fixed         | 12.80%                | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                          | Crown Castle, Inc.                                                                                     | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |       45054 | NS      | $3911137.74   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Berman Loan Advisers CLO 50 Ltd.                                  | Neuberger Berman Loan Advisers CLO Ltd., Series 2022-50A, Class CR                                     | CUSIP: 64134VAU0<br>LEI: 549300UMYON6L2REF246 | Long             | ABS-CBDO         | CORP              | JE        |      778948 | PA      | $779878.84    | 0.01%             | 2036-07-23      | Floating      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                                     | Fremont Home Loan Trust, Series 2002-1, Class M1                                                       | CUSIP: 35729PAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      243444 | PA      | $281532.51    | 0.00%             | 2033-08-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| E.ON SE                                                                     | E.ON SE                                                                                                | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |      507745 | NS      | $10769199.91  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                                | Antero Midstream Partners LP                                                                           | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4280000 | PA      | $4281699.16   | 0.05%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-21CB, Class A17                                                    | CUSIP: 12667GKS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1575213 | PA      | $1230221.48   | 0.01%             | 2035-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Indian Rupee                                                                | Indian Rupee                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | IN        |        3372 | OU      | $36.66        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                         | Audacy, Inc.                                                                                           | CUSIP: 05070N137<br>LEI: N/A                  | N/A              | DO               |  | US        |        2116 | NS      | $32.80        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CMS Energy Corp.                                                            | CMS Energy Corp.                                                                                       | CUSIP: 125896BY5<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |     1100000 | PA      | $1136139.40   | 0.01%             | 2055-06-01      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Trust                                               | Banc of America Funding Trust, Series 2005-7, Class 4A7                                                | CUSIP: 05946XV59<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       20534 | PA      | $20329.81     | 0.00%             | 2035-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                                    | Mizuho Markets Cayman LP, ELN, 16.20%, 02/27/2026                                                      | CUSIP: 60701C406<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |       14504 | PA      | $3852411.85   | 0.04%             | 2026-02-27      | Fixed         | 16.20%                | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2012-89                                                                                   | CUSIP: 38378BXV6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     3912713 | PA      | $39.13        | 0.00%             | 2053-12-16      | Variable      | 0.19%                 | No            |                  2 | On Loan: No      |
| Southern Copper Corp.                                                       | Southern Copper Corp.                                                                                  | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |        8421 | NS      | $1602684.72   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Gray Media, Inc.                                                            | Gray Media, Inc.                                                                                       | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     3240000 | PA      | $2500633.94   | 0.03%             | 2030-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| VistaJet Malta Finance plc                                                  | VistaJet Malta Finance plc                                                                             | CUSIP: 92841HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2100000 | PA      | $2184701.40   | 0.03%             | 2028-06-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                                         | Herc Holdings, Inc.                                                                                    | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     4092000 | PA      | $4294811.80   | 0.05%             | 2030-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     5786000 | PA      | $6180020.70   | 0.07%             | 2027-11-22      | Variable      | 9.38%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     2154000 | PA      | $2168285.33   | 0.03%             | 2034-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                       | Alexandria Real Estate Equities, Inc.                                                                  | CUSIP: 015271AT6<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |       18000 | PA      | $16982.43     | 0.00%             | 2029-12-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Shell plc                                                                   | Shell plc                                                                                              | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |      459458 | NS      | $17661340.93  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust                               | Bridgecrest Lending Auto Securitization Trust, Series 2025-4, Class D                                  | CUSIP: 10807UAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      900000 | PA      | $914113.44    | 0.01%             | 2031-08-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                                         | Rocket Mortgage LLC                                                                                    | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      441000 | PA      | $404939.08    | 0.00%             | 2033-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                          | Banco Bilbao Vizcaya Argentaria SA                                                                     | CUSIP: 05946KAM3<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    10409000 | PA      | $11645911.88  | 0.13%             | 2029-03-19      | Variable      | 9.38%                 | No            |                  2 | On Loan: No      |
| Var Energi ASA                                                              | Var Energi ASA                                                                                         | CUSIP: N/A<br>LEI: 549300LIVN3FFOJN2K47       | Long             | EC               | CORP              | NO        |      337216 | NS      | $1233007.21   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Home Equity Asset-Backed Securities Trust                       | Wells Fargo Home Equity Asset-Backed Securities Trust, Series 2004-2, Class M8B                        | CUSIP: 94980GBJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      289567 | PA      | $275634.66    | 0.00%             | 2034-10-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Rubis SCA                                                                   | Rubis SCA                                                                                              | CUSIP: N/A<br>LEI: 969500MGFIKUGLTC9742       | Long             | EC               | CORP              | FR        |       50137 | NS      | $2030201.55   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Vallourec SACA                                                              | Vallourec SACA                                                                                         | CUSIP: N/A<br>LEI: 969500P2Q1B47H4MCJ34       | Long             | EC               | CORP              | FR        |       61595 | NS      | $1307222.57   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Entegris, Inc.                                                              | Entegris, Inc.                                                                                         | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     1501000 | PA      | $1489754.81   | 0.02%             | 2028-04-15      | Fixed         | 4.38%                 | 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        |      720892 | PA      | $720300.71    | 0.01%             | 2030-06-20      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-NC8, Class M3                                    | CUSIP: 61744CHR0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       58546 | PA      | $67256.57     | 0.00%             | 2034-09-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| AIB Group plc                                                               | AIB Group plc                                                                                          | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | EC               | CORP              | IE        |      200149 | NS      | $2237294.12   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Gulfport Energy Operating Corp.                                             | Gulfport Energy Operating Corp.                                                                        | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |     2718000 | PA      | $2803038.07   | 0.03%             | 2029-09-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                                     | RHP Hotel Properties LP                                                                                | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      520000 | PA      | $539027.84    | 0.01%             | 2033-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2019-CD8, Class E                                                            | CUSIP: 12515BAT5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1790000 | PA      | $1051283.29   | 0.01%             | 2057-08-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Tyson Foods, Inc.                                                           | Tyson Foods, Inc., Class A                                                                             | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |       72748 | NS      | $4752626.84   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-J2, Class 1A1                                             | CUSIP: 126694G93<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       60852 | PA      | $27154.00     | 0.00%             | 2036-04-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SBA Small Business Investment Cos.                                          | SBA Small Business Investment Cos., Series 2023-10B, Class 1                                           | CUSIP: 831641FW0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      464904 | PA      | $482919.05    | 0.01%             | 2033-09-10      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                                             | Air Lease Corp.                                                                                        | CUSIP: 00914AAB8<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |       15000 | PA      | $14983.17     | 0.00%             | 2026-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Avery Dennison Corp.                                                        | Avery Dennison Corp.                                                                                   | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |       20687 | NS      | $3837645.37   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                         | U.S. Treasury 5 Year Note                                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       12857 | NC      | $-9259881.40  | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                                                      | Petroleo Brasileiro SA (Preference)                                                                    | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |      936692 | NS      | $6704705.27   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Yusen KK                                                             | Nippon Yusen KK                                                                                        | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |       13000 | NS      | $427243.47    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Vale Overseas Ltd.                                                          | Vale Overseas Ltd.                                                                                     | CUSIP: 91911TAT0<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |     1260000 | PA      | $1266174.00   | 0.01%             | 2056-02-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Shutterfly Finance LLC                                                      | Shutterfly Finance LLC                                                                                 | CUSIP: 82568NAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    10577802 | PA      | $10269564.85  | 0.12%             | 2027-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: —       |
| Tata Consultancy Services Ltd.                                              | Tata Consultancy Services Ltd.                                                                         | CUSIP: N/A<br>LEI: 335800ZJKU9GPQRE2U66       | Long             | EC               | CORP              | IN        |       51372 | NS      | $1747063.89   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |      780000 | PA      | $848640.00    | 0.01%             | 2031-01-21      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| KBR, Inc.                                                                   | KBR, Inc., 1st Lien Term Loan B                                                                        | CUSIP: 48242YAW2<br>LEI: 254900OFQDXZRKRCV808 | Long             | LON              | CORP              | US        |      464288 | PA      | $465523.38    | 0.01%             | 2031-01-17      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                                        | NOVA Chemicals Corp.                                                                                   | CUSIP: 66977WAT6<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |     2819000 | PA      | $2944411.67   | 0.03%             | 2028-11-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies BV                                                     | Sensata Technologies BV                                                                                | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |     3262000 | PA      | $3193582.81   | 0.04%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The), ELN, 15.00%, 02/13/2026                                                   | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | Long             | SN               | CORP              | CA        |       62000 | PA      | $4432622.48   | 0.05%             | 2026-02-13      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                     | Level 3 Financing, Inc., 1st Lien Term Loan B-4                                                        | CUSIP: 52729KAU0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      425000 | PA      | $425106.25    | 0.00%             | 2032-03-29      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2016-C2, Class D                                           | CUSIP: 17291CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $955284.50    | 0.01%             | 2049-08-10      | Variable      | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Woori Financial Group, Inc.                                                 | Woori Financial Group, Inc.                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       21099 | NS      | $441367.26    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citi Asset Receivables Trust I                                              | Citi Asset Receivables Trust I, Series 2025-3, Class CERT                                              | CUSIP: 17302FAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      359566 | PA      | $358667.51    | 0.00%             | 2031-06-20      | Fixed         | 25.33%                | Yes           |                  3 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-3, Class A18                                              | CUSIP: 12543RAT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      772424 | PA      | $343878.52    | 0.00%             | 2037-04-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Goat Holdco LLC                                                             | Goat Holdco LLC                                                                                        | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1182000 | PA      | $1213941.19   | 0.01%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| BP Capital Markets plc                                                      | BP Capital Markets plc                                                                                 | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |     2196000 | PA      | $2180032.66   | 0.03%             | 2030-03-22      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Banc of America Mortgage Trust                                              | Banc of America Mortgage Trust, Series 2007-3, Class 1A1                                               | CUSIP: 05954CAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       81906 | PA      | $67850.37     | 0.00%             | 2037-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                                            | ABN AMRO Bank NV                                                                                       | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               | CORP              | NL        |       13635 | NS      | $502358.13    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 17888HAB9<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     3109000 | PA      | $3265563.02   | 0.04%             | 2031-07-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KW09, Class X2B                                                      | CUSIP: 30298GAL6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    32681000 | PA      | $89660.32     | 0.00%             | 2029-06-25      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| Structured Adjustable Rate Mortgage Loan Trust                              | Structured Adjustable Rate Mortgage Loan Trust, Series 2005-1, Class 1A1                               | CUSIP: 863579KY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      151920 | PA      | $144483.56    | 0.00%             | 2035-02-25      | Variable      | 4.22%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                          | Venture Global Plaquemines LNG LLC                                                                     | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     1897000 | PA      | $1952585.89   | 0.02%             | 2030-12-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Dawn Bidco LLC                                                              | Dawn Bidco LLC, 1st Lien Term Loan                                                                     | CUSIP: 23923YAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     3972477 | PA      | $3853302.75   | 0.04%             | 2032-08-20      | Variable      | 6.76%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                          | Banco Bilbao Vizcaya Argentaria SA                                                                     | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |      253809 | NS      | $6442605.25   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Veolia Environnement SA                                                     | Veolia Environnement SA                                                                                | CUSIP: N/A<br>LEI: 969500LENY69X51OOT31       | Long             | EC               | CORP              | FR        |       59451 | NS      | $2229840.63   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |     1200000 | PA      | $1122000.00   | 0.01%             | 2047-11-28      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2016-C1, Class D2                                   | CUSIP: 46645LAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1464500 | PA      | $1215398.22   | 0.01%             | 2049-03-17      | Variable      | 4.15%                 | Yes           |                  2 | On Loan: No      |
| Yue Yuen Industrial Holdings Ltd.                                           | Yue Yuen Industrial Holdings Ltd.                                                                      | CUSIP: N/A<br>LEI: 254900YUFIBANZ1XU687       | Long             | EC               | CORP              | BM        |      493000 | NS      | $1099536.25   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95000U3B7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      464000 | PA      | $469914.31    | 0.01%             | 2033-07-25      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The)                                                               | CUSIP: 693475BK0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |      123000 | PA      | $126045.17    | 0.00%             | 2028-12-02      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                                              | Broadcom, Inc.                                                                                         | CUSIP: 11135FAS0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |       32000 | PA      | $31562.31     | 0.00%             | 2032-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                                            | CCO Holdings LLC                                                                                       | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1877000 | PA      | $1877768.41   | 0.02%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR5, Class A6                               | CUSIP: 92922FM21<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      693188 | PA      | $687386.12    | 0.01%             | 2035-05-25      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| ATI, Inc.                                                                   | ATI, Inc.                                                                                              | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     1655000 | PA      | $1649916.67   | 0.02%             | 2029-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-2, Class A2                                               | CUSIP: 12544CAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       94896 | PA      | $39147.37     | 0.00%             | 2037-03-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Loomis AB                                                                   | Loomis AB                                                                                              | CUSIP: N/A<br>LEI: 213800NS2XXVRYS7WP40       | Long             | EC               | CORP              | SE        |       39624 | NS      | $1644247.67   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Gray Media, Inc.                                                            | Gray Media, Inc.                                                                                       | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     4787000 | PA      | $4900801.35   | 0.06%             | 2033-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| PMT Loan Trust                                                              | PMT Loan Trust, Series 2025-INV10, Class A2                                                            | CUSIP: 69383EAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4349990 | PA      | $4396039.14   | 0.05%             | 2056-10-01      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Tokio Marine Holdings, Inc.                                                 | Tokio Marine Holdings, Inc.                                                                            | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |      171800 | NS      | $6403423.92   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| CMS Energy Corp.                                                            | CMS Energy Corp.                                                                                       | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |     3823000 | PA      | $3776311.23   | 0.04%             | 2050-06-01      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                                       | WR Grace Holdings LLC                                                                                  | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     2794000 | PA      | $2794000.00   | 0.03%             | 2027-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565BT0<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     2735000 | PA      | $2819486.89   | 0.03%             | 2027-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BASF SE                                                                     | BASF SE                                                                                                | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               | CORP              | DE        |       32369 | NS      | $1754852.83   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Bilfinger SE                                                                | Bilfinger SE                                                                                           | CUSIP: N/A<br>LEI: 529900H0HULEN2BZ4604       | Long             | EC               | CORP              | DE        |       16575 | NS      | $2322303.78   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| T. Rowe Price Group, Inc.                                                   | T. Rowe Price Group, Inc.                                                                              | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |       30248 | NS      | $3196608.64   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The)                                                                            | CUSIP: 89115A2Y7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |      854000 | PA      | $876811.38    | 0.01%             | 2029-04-05      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers CLO Ltd.                                     | Neuberger Berman Loan Advisers CLO Ltd., Series 2019-34A, Class BR2                                    | CUSIP: 64132YBJ0<br>LEI: 5493009EGZQAPYYVLD80 | Long             | ABS-CBDO         | CORP              | KY        |      900000 | PA      | $904129.20    | 0.01%             | 2039-07-20      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| OCP SA                                                                      | OCP SA                                                                                                 | CUSIP: 67091TAG0<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | NUSS              | MA        |     1430000 | PA      | $1557334.35   | 0.02%             | 2054-05-02      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QBX9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |      742000 | PA      | $562146.62    | 0.01%             | 2046-01-23      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note Trust                                        | Toyota Auto Loan Extended Note Trust, Series 2021-1A, Class A                                          | CUSIP: 89237MAA7<br>LEI: 54930055QDKD6LCRW256 | Long             | ABS-O            | CORP              | US        |      307000 | PA      | $306439.82    | 0.00%             | 2034-02-27      | Fixed         | 1.07%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                             | Permian Resources Operating LLC                                                                        | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     2111000 | PA      | $2212963.41   | 0.03%             | 2032-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Arkema SA                                                                   | Arkema SA                                                                                              | CUSIP: N/A<br>LEI: 9695000EHMS84KKP2785       | Long             | EC               | CORP              | FR        |       20305 | NS      | $1222809.77   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp.                                                          | Toyota Motor Corp.                                                                                     | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |      332200 | NS      | $7529481.48   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                         | Coca-Cola Co. (The)                                                                                    | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      167449 | NS      | $12526859.69  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| VTech Holdings Ltd.                                                         | VTech Holdings Ltd.                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |       72300 | NS      | $563035.65    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Chemours Co. (The)                                                          | Chemours Co. (The)                                                                                     | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     8584000 | PA      | $8512878.98   | 0.10%             | 2028-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| HDFC Bank Ltd.                                                              | HDFC Bank Ltd.                                                                                         | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |       30371 | NS      | $983412.98    | 0.01%             |  |  |  | No            |                  1 | 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        |      611925 | PA      | $610652.20    | 0.01%             | 2032-01-30      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Carrefour SA                                                                | Carrefour SA                                                                                           | CUSIP: N/A<br>LEI: 549300B8P6MUJ1YWTS08       | Long             | EC               | CORP              | FR        |      128220 | NS      | $2100139.84   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                                    | Svenska Handelsbanken AB                                                                               | CUSIP: 86959LAH6<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |      351000 | PA      | $347693.60    | 0.00%             | 2027-06-11      | Variable      | 1.42%                 | Yes           |                  2 | On Loan: No      |
| Proximus SADP                                                               | Proximus SADP                                                                                          | CUSIP: N/A<br>LEI: 549300CWRXC5EP004533       | Long             | EC               | CORP              | BE        |      209397 | NS      | $1910514.53   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group, Inc.                                                    | KB Financial Group, Inc.                                                                               | CUSIP: N/A<br>LEI: 529900TKE4MXG3Q6GW86       | Long             | EC               | CORP              | KR        |       17509 | NS      | $1638828.76   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co., Series Z                                                                            | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      331938 | NS      | $6539178.60   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Zekelman Industries, Inc.                                                   | Zekelman Industries, Inc., 1st Lien Term Loan                                                          | CUSIP: 98931YAD5<br>LEI: 549300S5LMRAKDWWI425 | Long             | LON              | CORP              | US        |      319604 | PA      | $320447.64    | 0.00%             | 2031-01-24      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 14.30%, 02/13/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       32646 | PA      | $3936667.29   | 0.05%             | 2026-02-13      | Fixed         | 14.30%                | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc.                                                                                  | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     2345000 | PA      | $2410976.58   | 0.03%             | 2055-05-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: N/A<br>LEI: 529900LOP29R5WKHOD86       | Long             | DBT              | NUSS              | PK        |     2000000 | PA      | $1998000.00   | 0.02%             | 2026-04-08      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ITV plc                                                                     | ITV plc                                                                                                | CUSIP: N/A<br>LEI: ZLECI7ED2QMWFGYCXZ59       | Long             | EC               | CORP              | GB        |     1421618 | NS      | $1585026.28   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust, Inc.                                         | Citigroup Mortgage Loan Trust, Inc., Series 2006-8, Class A3                                           | CUSIP: 17310CAC6<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |      425165 | PA      | $180739.04    | 0.00%             | 2035-10-25      | Floating      | 4.14%                 | Yes           |                  2 | On Loan: No      |
| Standard Building Solutions, Inc.                                           | Standard Building Solutions, Inc.                                                                      | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     4823000 | PA      | $4929863.21   | 0.06%             | 2033-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2006-QS17, Class A5                                                                 | CUSIP: 74922SAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1194484 | PA      | $1003647.45   | 0.01%             | 2036-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR26, Class D                                                   | CUSIP: 12593QBK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2500000 | PA      | $2028600.00   | 0.02%             | 2048-10-10      | Variable      | 3.61%                 | No            |                  2 | On Loan: No      |
| Bendigo & Adelaide Bank Ltd.                                                | Bendigo & Adelaide Bank Ltd.                                                                           | CUSIP: N/A<br>LEI: 549300Y9URD6W70K0360       | Long             | EC               | CORP              | AU        |       98377 | NS      | $749121.23    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Legacy Mortgage Asset Trust                                                 | Legacy Mortgage Asset Trust, Series 2021-GS1, Class A2                                                 | CUSIP: 52474JAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2315761 | PA      | $2318847.23   | 0.03%             | 2066-10-25      | Variable      | 7.84%                 | Yes           |                  2 | On Loan: No      |
| Wilmar International Ltd.                                                   | Wilmar International Ltd.                                                                              | CUSIP: N/A<br>LEI: 549300H2EAI4YRLWBB20       | Long             | EC               | CORP              | SG        |      169400 | NS      | $452305.24    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2017-GS6, Class C                                                 | CUSIP: 36253PAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4330000 | PA      | $3278971.31   | 0.04%             | 2050-05-10      | Variable      | 4.32%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     5631000 | PA      | $5783172.14   | 0.07%             | 2032-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |      380000 | PA      | $372757.20    | 0.00%             | 2029-11-26      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc., 1st Lien Term Loan                                                                   | CUSIP: 62937NBC0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | LON              | CORP              | US        |      577063 | PA      | $577351.82    | 0.01%             | 2031-04-16      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| ABFC Trust                                                                  | ABFC Trust, Series 2003-OPT1, Class A1A                                                                | CUSIP: 04542BDE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       46398 | PA      | $46747.16     | 0.00%             | 2033-04-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US, Inc.                                                      | Neptune Bidco US, Inc.                                                                                 | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     1786000 | PA      | $1833875.52   | 0.02%             | 2029-04-15      | Fixed         | 9.29%                 | Yes           |                  2 | On Loan: No      |
| SCF Equipment Leasing LLC                                                   | SCF Equipment Leasing LLC, Series 2025-2A, Class D                                                     | CUSIP: 78439XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      500000 | PA      | $502508.10    | 0.01%             | 2036-06-20      | Fixed         | 5.33%                 | Yes           |                  2 | On Loan: No      |
| Ukraine                                                                     | Ukraine Government Bond                                                                                | CUSIP: 903724CE0<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     2700000 | PA      | $1316250.00   | 0.02%             | 2034-02-01      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| CWABS Asset-Backed Certificates Trust                                       | CWABS Asset-Backed Certificates Trust,, Series 2004-BC4, Class M1                                      | CUSIP: 126673KY7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         433 | PA      | $614.89       | 0.00%             | 2034-11-25      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Japan Post Holdings Co. Ltd.                                                | Japan Post Holdings Co. Ltd.                                                                           | CUSIP: N/A<br>LEI: 5299003D9N4JBS256X18       | Long             | EC               | CORP              | JP        |       89100 | NS      | $1072124.43   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Superior Plus LP                                                            | Superior Plus LP                                                                                       | CUSIP: 86828LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     1621000 | PA      | $1583831.28   | 0.02%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                                                  | Avis Budget Car Rental LLC                                                                             | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2616000 | PA      | $2551052.38   | 0.03%             | 2029-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| PRPM LLC                                                                    | PRPM LLC, Series 2024-8, Class A2                                                                      | CUSIP: 74448KAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1501000 | PA      | $1512901.13   | 0.02%             | 2029-12-25      | Variable      | 8.84%                 | Yes           |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                                     | FHLMC STACR REMIC Trust, Series 2021-DNA5, Class B2                                                    | CUSIP: 35564KJB6<br>LEI: 5493000ISU5NYXNHD479 | Long             | ABS-MBS          | CORP              | US        |     4000000 | PA      | $4845000.00   | 0.06%             | 2034-01-25      | Floating      | 9.20%                 | Yes           |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2013-C15, Class E                                   | CUSIP: 46640NAR9<br>LEI: 549300UOGMFS1M8XVM16 | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $1063060.00   | 0.01%             | 2045-11-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| PRET LLC                                                                    | PRET LLC, Series 2025-NPL4, Class A1                                                                   | CUSIP: 74136UAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      777716 | PA      | $780718.30    | 0.01%             | 2055-04-25      | Variable      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2015-GC30, Class D                                                | CUSIP: 36250GAX3<br>LEI: 549300L45M7638EL0H21 | Long             | ABS-MBS          | CORP              | US        |     1250000 | PA      | $696875.00    | 0.01%             | 2050-05-10      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SCF Equipment Leasing LLC                                                   | SCF Equipment Leasing LLC, Series 2025-2A, Class E                                                     | CUSIP: 78439XAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      495000 | PA      | $507579.09    | 0.01%             | 2036-06-20      | Fixed         | 6.21%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     2049000 | PA      | $2032576.24   | 0.02%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Mallinckrodt plc                                                            | Mallinckrodt plc                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       39494 | NS      | $4153801.20   | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| Neptune Bidco US, Inc.                                                      | Neptune Bidco US, Inc., 1st Lien Term Loan B                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      265000 | PA      | $260582.45    | 0.00%             | 2033-01-28      | Variable      | 8.42%                 | No            |                  2 | On Loan: No      |
| Bell Canada Coupon STRIPS                                                   | Bell Canada (The)                                                                                      | CUSIP: 07787QC38<br>LEI: 5493000G3EFX9S7TDE29 | Long             | STIV             | CORP              | CA        |      250000 | PA      | $249152.75    | 0.00%             | 2026-03-03      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                                              | Univision Communications, Inc.                                                                         | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     5290000 | PA      | $5459264.13   | 0.06%             | 2028-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                          | United Rentals North America, Inc.                                                                     | CUSIP: 911365BR4<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     5712000 | PA      | $5935021.78   | 0.07%             | 2034-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 14.00%, 02/13/2026                                                    | CUSIP: 61778U709<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       10505 | PA      | $4999362.96   | 0.06%             | 2026-02-13      | Fixed         | 14.00%                | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                                                       | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     2518000 | PA      | $1527464.63   | 0.02%             | 2031-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Blue Racer Midstream LLC                                                    | Blue Racer Midstream LLC                                                                               | CUSIP: 095796AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1675000 | PA      | $1677003.30   | 0.02%             | 2026-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2019-B15, Class E                                                     | CUSIP: 08160KAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4391000 | PA      | $2519996.66   | 0.03%             | 2072-12-15      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                                              | Takeda Pharmaceutical Co. Ltd.                                                                         | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |       85200 | NS      | $2900183.65   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| EchoStar Corp.                                                              | EchoStar Corp.                                                                                         | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |     5220000 | PA      | $5722268.40   | 0.07%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Project Boost Purchaser LLC                                                 | Project Boost Purchaser LLC, 1st Lien Term Loan                                                        | CUSIP: 74339NAG1<br>LEI: 254900SVSL94NTLSDY26 | Long             | LON              | CORP              | US        |      704765 | PA      | $691424.21    | 0.01%             | 2031-07-16      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| UDR, Inc.                                                                   | UDR, Inc.                                                                                              | CUSIP: 90265EAR1<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |        9000 | PA      | $8344.25      | 0.00%             | 2031-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                                 | Toronto-Dominion Bank (The), ELN, 25.00%, 02/27/2026                                                   | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | Long             | SN               | CORP              | CA        |       67466 | PA      | $4468874.58   | 0.05%             | 2026-02-27      | Fixed         | 25.00%                | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2014-LC17, Class D                                                   | CUSIP: 12592MAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        8848 | PA      | $8671.15      | 0.00%             | 2047-10-10      | Fixed         | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |     2875000 | PA      | $2587500.00   | 0.03%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| Bioceanico Sovereign Certificate Ltd.                                       | Bioceanico Sovereign Certificate Ltd.                                                                  | CUSIP: 09076AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |      289421 | PA      | $236818.36    | 0.00%             | 2034-06-05      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Whitewater Whistler Holdings LLC                                            | Whitewater Whistler Holdings LLC, 1st Lien Term Loan B-3                                               | CUSIP: 96620EAF4<br>LEI: 549300FRGKJP12ZORL46 | Long             | LON              | CORP              | US        |      540624 | PA      | $537823.24    | 0.01%             | 2030-02-15      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: 035198AD2<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     1550000 | PA      | $1520457.00   | 0.02%             | 2029-11-26      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: —       |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325EF8<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     2950000 | PA      | $3174200.00   | 0.04%             | 2033-04-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Concentra Health Services, Inc.                                             | Concentra Health Services, Inc.                                                                        | CUSIP: 20600DAA1<br>LEI: 984500GB84105F75DE32 | Long             | DBT              | CORP              | US        |     1101000 | PA      | $1152752.51   | 0.01%             | 2032-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: —       |
| Outfront Media Capital LLC                                                  | Outfront Media Capital LLC                                                                             | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1161000 | PA      | $1133223.08   | 0.01%             | 2029-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                                           | GLS Auto Receivables Issuer Trust, Series 2022-2A, Class E                                             | CUSIP: 36265NAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1250000 | PA      | $1257001.00   | 0.01%             | 2029-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The)                                                                                      | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     5580000 | PA      | $5616766.62   | 0.07%             | 2029-07-15      | Fixed         | 12.62%                | Yes           |                  2 | On Loan: No      |
| Aozora Bank Ltd.                                                            | Aozora Bank Ltd.                                                                                       | CUSIP: N/A<br>LEI: X0XUGKC9FD2CYUQNC010       | Long             | EC               | CORP              | JP        |      129000 | NS      | $2089939.60   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Noble Finance II LLC                                                        | Noble Finance II LLC                                                                                   | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1719000 | PA      | $1791980.06   | 0.02%             | 2030-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties, Inc.                                                       | VICI Properties, Inc., Class A                                                                         | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |      459156 | NS      | $12893100.48  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Citi Asset Receivables Trust I                                              | Citi Asset Receivables Trust, Series 2025-6, Class CERT                                                | CUSIP: 17291VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      106972 | PA      | $107282.64    | 0.00%             | 2031-09-20      | Fixed         | 25.60%                | Yes           |                  3 | On Loan: No      |
| Chemours Co. LLC                                                            | Chemours Co. LLC, 1st Lien Term Loan B-4                                                               | CUSIP: 16384YAM9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      500000 | PA      | $496250.00    | 0.01%             | 2032-10-15      | Variable      | 7.17%                 | No            |                  2 | On Loan: No      |
| YPF SA                                                                      | YPF SA                                                                                                 | CUSIP: 984245BB5<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | NUSS              | AR        |     1000000 | PA      | $1019250.00   | 0.01%             | 2034-01-17      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: —       |
| ENN Energy Holdings Ltd.                                                    | ENN Energy Holdings Ltd.                                                                               | CUSIP: N/A<br>LEI: 549300V7BXPWT6WIPR03       | Long             | EC               | CORP              | KY        |      259500 | NS      | $2233968.86   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                    | PNC Financial Services Group, Inc. (The)                                                               | CUSIP: 693475BY0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |      250000 | PA      | $251335.15    | 0.00%             | 2027-07-23      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley, Series K                                                                               | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |      254144 | NS      | $6257025.28   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Emera US Finance LP                                                         | Emera US Finance LP                                                                                    | CUSIP: 29103DAT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       16000 | PA      | $14472.10     | 0.00%             | 2031-06-15      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| Hungarian Forint                                                            | Hungarian Forint                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | HU        |         509 | OU      | $1.58         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 08.50%, 02/20/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       19977 | PA      | $4408308.30   | 0.05%             | 2026-02-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Singapore Dollar                                                            | Singapore Dollar                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SG        |           0 | OU      | $0.04         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair LLC                                                                 | Wayfair LLC                                                                                            | CUSIP: 94419NAC1<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |     1258000 | PA      | $1300233.58   | 0.02%             | 2032-11-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| China Petroleum & Chemical Corp.                                            | China Petroleum & Chemical Corp., Class H                                                              | CUSIP: N/A<br>LEI: 529900A2OB24EZ5B3J19       | Long             | EC               | CORP              | CN        |     4418000 | NS      | $3040489.53   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Sabine Pass Liquefaction LLC                                                | Sabine Pass Liquefaction LLC                                                                           | CUSIP: 785592AV8<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |       28000 | PA      | $28030.50     | 0.00%             | 2026-06-30      | Fixed         | 5.88%                 | 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        |     2944390 | PA      | $2797170.07   | 0.03%             | 2029-01-02      | Variable      | 12.34%                | No            |                  3 | On Loan: No      |
| PAREXEL International Corp.                                                 | PAREXEL International Corp., 1st Lien Term Loan                                                        | CUSIP: 71911KAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1851385 | PA      | $1849848.18   | 0.02%             | 2031-12-12      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| BMW US Capital LLC                                                          | BMW US Capital LLC                                                                                     | CUSIP: 05565ECQ6<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |      250000 | PA      | $252434.13    | 0.00%             | 2027-08-13      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                                    | Comstock Resources, Inc.                                                                               | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     7908000 | PA      | $7958421.41   | 0.09%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of El Salvador                                                     | Republic of El Salvador                                                                                | CUSIP: N/A<br>LEI: 529900AKDMUSFSDOM949       | Long             | DBT              | NUSS              | SV        |     1250000 | PA      | $1420218.75   | 0.02%             | 2052-07-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2003-OPT1, Class M1                                     | CUSIP: 5899295K0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       34206 | PA      | $29569.52     | 0.00%             | 2034-07-25      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG                                                   | Zurich Insurance Group AG                                                                              | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |        4898 | NS      | $3484544.83   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Dow, Inc.                                                                   | Dow, Inc.                                                                                              | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |      172344 | NS      | $4748077.20   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     4610000 | PA      | $4804395.49   | 0.06%             | 2030-02-10      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658BW1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     1239000 | PA      | $1296614.43   | 0.02%             | 2029-08-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR14, Class 1A4                             | CUSIP: 92922F4D7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      400433 | PA      | $378164.23    | 0.00%             | 2035-12-25      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                                                  | Procter & Gamble Co. (The)                                                                             | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |       49994 | NS      | $7587589.38   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue, Inc.                                                                | Kenvue, Inc.                                                                                           | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |      243529 | NS      | $4237404.60   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2018-KF43, Class B                                                        | CUSIP: 30296DAG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     1288406 | PA      | $1252225.34   | 0.01%             | 2028-01-25      | Floating      | 6.05%                 | Yes           |                  2 | On Loan: No      |
| UniCredit SpA                                                               | UniCredit SpA                                                                                          | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |       60154 | NS      | $5242184.03   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Insulet Corp.                                                               | Insulet Corp., 1st Lien Term Loan                                                                      | CUSIP: 45784QAF6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      680350 | PA      | $683221.23    | 0.01%             | 2031-08-04      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| ION Platform Finance US, Inc.                                               | ION Platform Finance US, Inc.                                                                          | CUSIP: 46205QAB4<br>LEI: 213800FKHT3BRRKMCC89 | Long             | DBT              | CORP              | US        |     2287000 | PA      | $2005731.25   | 0.02%             | 2032-09-30      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-WMC2, Class M1                                   | CUSIP: 61746RHS3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      453034 | PA      | $464616.29    | 0.01%             | 2034-07-25      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2017-K724, Class D                                                        | CUSIP: 30295XAW8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      723044 | PA      | $686231.45    | 0.01%             | 2049-12-25      | None          | 0.00%                 | Yes           |                  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        |      246367 | PA      | $244396.50    | 0.00%             | 2031-02-06      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Radiology Partners, Inc.                                                    | Radiology Partners, Inc., 1st Lien Term Loan B                                                         | CUSIP: 75041EAN2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      498750 | PA      | $498660.23    | 0.01%             | 2032-06-30      | Variable      | 8.17%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: N/A<br>LEI: 378900AAFB4F17004C49       | Long             | DBT              | NUSS              | ZA        |     3600000 | PA      | $3819510.00   | 0.04%             | 2036-11-19      | Fixed         | 7.10%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                                             | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     9139930 | PA      | $8637233.85   | 0.10%             | 2029-05-01      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: —       |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class D                                         | CUSIP: 17323CAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1599845 | PA      | $1577669.94   | 0.02%             | 2048-02-10      | Variable      | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                  | Prudential Financial, Inc.                                                                             | CUSIP: 744320BL5<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |     3054000 | PA      | $3256687.87   | 0.04%             | 2053-03-01      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2017-C38, Class D                                        | CUSIP: 95001MAP5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1700000 | PA      | $1335693.06   | 0.02%             | 2050-07-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AE9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |      250000 | PA      | $229075.00    | 0.00%             | 2043-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Valmet OYJ                                                                  | Valmet OYJ                                                                                             | CUSIP: N/A<br>LEI: 213800D9O7FUQDH83V62       | Long             | EC               | CORP              | FI        |       52260 | NS      | $1790770.75   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                                | Performance Food Group, Inc.                                                                           | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     1064000 | PA      | $1092789.65   | 0.01%             | 2032-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| YPF SA                                                                      | YPF SA                                                                                                 | CUSIP: N/A<br>LEI: 5493003N7447U18U5U53       | Long             | DBT              | NUSS              | AR        |      913000 | PA      | $945320.20    | 0.01%             | 2029-06-27      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                               | Six Flags Entertainment Corp.                                                                          | CUSIP: 83001AAD4<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |     2278000 | PA      | $2248089.63   | 0.03%             | 2031-05-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: —       |
| Chart Industries, Inc.                                                      | Chart Industries, Inc.                                                                                 | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |      611000 | PA      | $643264.47    | 0.01%             | 2031-01-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2025-208, Class ZG                                                                        | CUSIP: 38385KLN8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     1907125 | PA      | $1851268.36   | 0.02%             | 2055-12-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                      | Truist Financial Corp.                                                                                 | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |       95032 | NS      | $4886545.44   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Arches Buyer, Inc.                                                          | Arches Buyer, Inc.                                                                                     | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |     1690000 | PA      | $1662113.48   | 0.02%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Mandatum OYJ                                                                | Mandatum OYJ                                                                                           | CUSIP: N/A<br>LEI: 743700OAJK6L28Y2NN56       | Long             | EC               | CORP              | FI        |      135077 | NS      | $1101598.22   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                      | Cleveland-Cliffs, Inc.                                                                                 | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     1528000 | PA      | $1612458.67   | 0.02%             | 2031-09-15      | Fixed         | 7.50%                 | Yes           |                  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        |     2938929 | PA      | $2899253.82   | 0.03%             | 2029-02-01      | Variable      | 6.78%                 | 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        |       51325 | PA      | $51325.00     | 0.00%             | 2027-10-01      | Variable      | 9.67%                 | No            |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                                    | WESCO Distribution, Inc.                                                                               | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     5878000 | PA      | $6060347.32   | 0.07%             | 2029-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Metlife Securitization Trust                                                | Metlife Securitization Trust, Series 2017-1A, Class A                                                  | CUSIP: 59166BAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1251147 | PA      | $1206860.87   | 0.01%             | 2055-04-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83368RBH4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     1091000 | PA      | $1077380.89   | 0.01%             | 2028-01-19      | Variable      | 2.80%                 | Yes           |                  2 | On Loan: No      |
| Fibercop SpA                                                                | Fibercop SpA                                                                                           | CUSIP: 683879AD2<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |     4028000 | PA      | $3911559.26   | 0.05%             | 2034-09-30      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Element Fleet Management Corp.                                              | Element Fleet Management Corp.                                                                         | CUSIP: 286181AM4<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |      250000 | PA      | $253978.65    | 0.00%             | 2027-03-13      | Fixed         | 5.64%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series T                                                              | CUSIP: 38144GAE1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     5607000 | PA      | $5576071.79   | 0.06%             | 2026-05-10      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Global Infrastructure Solutions, Inc.                                       | Global Infrastructure Solutions, Inc.                                                                  | CUSIP: 37960XAB3<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |     2995000 | PA      | $3207645.00   | 0.04%             | 2032-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                                       | WR Grace Holdings LLC                                                                                  | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     1727000 | PA      | $1717460.36   | 0.02%             | 2032-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                                       | Coinbase Global, Inc.                                                                                  | CUSIP: 19260QAD9<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |     1710000 | PA      | $1510727.03   | 0.02%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series DD                                                                       | CUSIP: 060505EU4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     4459000 | PA      | $4471066.05   | 0.05%             | 2026-03-10      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| CoreCivic, Inc.                                                             | CoreCivic, Inc.                                                                                        | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |     4255000 | PA      | $4456716.79   | 0.05%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2020-169                                                                                  | CUSIP: 38380RFW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    16195911 | PA      | $1003820.96   | 0.01%             | 2062-07-16      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| J Sainsbury plc                                                             | J Sainsbury plc                                                                                        | CUSIP: N/A<br>LEI: 213800VGZAAJIKJ9Y484       | Long             | EC               | CORP              | GB        |      569241 | NS      | $2494252.08   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ICON Luxembourg SARL                                                        | ICON Luxembourg SARL, 1st Lien Term Loan                                                               | CUSIP: L5000DAE7<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | LU        |       93145 | PA      | $93351.75     | 0.00%             | 2028-07-03      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                                              | Univision Communications, Inc.                                                                         | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |      242000 | PA      | $231147.41    | 0.00%             | 2029-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                                           | Venture Global Calcasieu Pass LLC                                                                      | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     1125000 | PA      | $1152802.13   | 0.01%             | 2030-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Chord Energy Corp.                                                          | Chord Energy Corp.                                                                                     | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |     1704000 | PA      | $1766488.64   | 0.02%             | 2033-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: —       |
| Dunelm Group plc                                                            | Dunelm Group plc                                                                                       | CUSIP: N/A<br>LEI: 213800WCOWEI3T5DUV19       | Long             | EC               | CORP              | GB        |      100441 | NS      | $1269931.21   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KW09, Class C                                                        | CUSIP: 30298GAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    24011000 | PA      | $18241862.62  | 0.21%             | 2029-06-25      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Endesa SA                                                                   | Endesa SA                                                                                              | CUSIP: N/A<br>LEI: 549300LHK07F2CHV4X31       | Long             | EC               | CORP              | ES        |      169050 | NS      | $6229920.45   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Knowlton Development Corp., Inc.                                            | Knowlton Development Corp., Inc., 1st Lien Term Loan                                                   | CUSIP: C4953EAH8<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |      557476 | PA      | $540289.49    | 0.01%             | 2028-08-15      | Variable      | 7.17%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2019-53, Class IA                                                                         | CUSIP: 38380M4K4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     5496126 | PA      | $271094.23    | 0.00%             | 2061-06-16      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC STACR REMIC Trust, Series 2020-DNA5, Class B2                                                    | CUSIP: 35566ABE8<br>LEI: 5493000ITF7RKPWPZQ19 | Long             | ABS-MBS          | CORP              | US        |     3040000 | PA      | $4225434.62   | 0.05%             | 2050-10-25      | Floating      | 15.20%                | Yes           |                  2 | On Loan: No      |
| Discovery Communications LLC                                                | Discovery Communications LLC                                                                           | CUSIP: 25470DBY4<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |      830000 | PA      | $641158.40    | 0.01%             | 2037-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                                 | Crescent Energy Finance LLC                                                                            | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     4309000 | PA      | $4274022.12   | 0.05%             | 2032-04-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Petroleos de Venezuela SA                                                   | Petroleos de Venezuela SA                                                                              | CUSIP: N/A<br>LEI: 549300YWR8TN1OFD4P06       | Long             | DBT              | NUSS              | VE        |     3705000 | PA      | $1124467.50   | 0.01%             | 2026-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2023-INV1, Class A3                                                 | CUSIP: 92539FAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1607084 | PA      | $1601876.11   | 0.02%             | 2068-02-25      | Variable      | 6.76%                 | Yes           |                  2 | On Loan: No      |
| Persimmon plc                                                               | Persimmon plc                                                                                          | CUSIP: N/A<br>LEI: 213800XI72Y57UWN6F31       | Long             | EC               | CORP              | GB        |       62228 | NS      | $1198339.03   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GSAMP Trust                                                                 | GSAMP Trust, Series 2003-SEA, Class A1                                                                 | CUSIP: 36228FVH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       47188 | PA      | $51056.17     | 0.00%             | 2033-02-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 21K-F116, Class CS                                                        | CUSIP: 30320XAE7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     4788040 | PA      | $4763727.09   | 0.06%             | 2028-06-25      | Floating      | 10.19%                | Yes           |                  2 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-P4, Class CERT                                  | CUSIP: 52608CAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      200000 | PA      | $564895.06    | 0.01%             | 2037-06-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Multifamily Connecticut Avenue Securities Trust                             | Multi-Family Connecticut Avenue Securities Trust, Series 2025-01, Class M1                             | CUSIP: 62549CAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3398009 | PA      | $3448179.10   | 0.04%             | 2055-05-25      | Floating      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                                           | Rocket Cos., Inc.                                                                                      | CUSIP: 77311WAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      190000 | PA      | $195437.80    | 0.00%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Astellas Pharma, Inc.                                                       | Astellas Pharma, Inc.                                                                                  | CUSIP: N/A<br>LEI: 529900IB708DY2HBBB35       | Long             | EC               | CORP              | JP        |       12900 | NS      | $179437.67    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Entergy Corp.                                                               | Entergy Corp.                                                                                          | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |     1531000 | PA      | $1602846.77   | 0.02%             | 2054-12-01      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Commonwealth of the Bahamas                                                 | Commonwealth of the Bahamas                                                                            | CUSIP: 056732AP5<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |      937000 | PA      | $1048409.30   | 0.01%             | 2036-06-24      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Tingyi Cayman Islands Holding Corp.                                         | Tingyi Cayman Islands Holding Corp.                                                                    | CUSIP: N/A<br>LEI: 5299009MPI9B60VN4P25       | Long             | EC               | CORP              | KY        |     1218000 | NS      | $1846038.26   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2015-C33, Class C                                   | CUSIP: 46645JAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     8000000 | PA      | $7631040.00   | 0.09%             | 2048-12-15      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| Azimut Holding SpA                                                          | Azimut Holding SpA                                                                                     | CUSIP: N/A<br>LEI: 81560025690EF8540635       | Long             | EC               | CORP              | IT        |       32346 | NS      | $1366422.83   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Cairn Homes plc                                                             | Cairn Homes plc                                                                                        | CUSIP: N/A<br>LEI: 635400DPX6WP2KKDOA83       | Long             | EC               | CORP              | IE        |      636828 | NS      | $1573700.28   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| 1261229 BC Ltd.                                                             | 1261229 BC Ltd., 1st Lien Term Loan                                                                    | CUSIP: C6903HAB0<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |     6852836 | PA      | $6673703.21   | 0.08%             | 2030-10-08      | Variable      | 9.92%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-10, Class 4CB1           | CUSIP: 93934FGL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      365146 | PA      | $342159.29    | 0.00%             | 2035-12-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                                 | Crescent Energy Finance LLC                                                                            | CUSIP: 45344LAC7<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     5176000 | PA      | $5325208.55   | 0.06%             | 2028-02-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Venator Materials LLC                                                       | Venator Materials LLC, 1st Lien Term Loan                                                              | CUSIP: L9632YAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      307323 | PA      | $24585.81     | 0.00%             | 2028-10-12      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                      | Truist Financial Corp., Series M                                                                       | CUSIP: 89832QAC3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     2018000 | PA      | $2018395.53   | 0.02%             | 2027-12-15      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| Lebanese Republic                                                           | Lebanese Republic                                                                                      | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |     6644000 | PA      | $1921627.51   | 0.02%             | 2027-03-23      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 08.00%, 02/20/2026                                                           | CUSIP: 83371Q828<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |      294335 | PA      | $5188557.99   | 0.06%             | 2026-02-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd.                                                           | Symphony CLO Ltd., Series 2021-29A, Class BR                                                           | CUSIP: 87168GAQ2<br>LEI: 254900H6EAUOGL2U2U64 | Long             | ABS-CBDO         | CORP              | KY        |      940000 | PA      | $942563.38    | 0.01%             | 2035-10-15      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 17888HAD5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     1658000 | PA      | $1813333.05   | 0.02%             | 2033-06-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                           | Credit Acceptance Auto Loan Trust, Series 2023-3A, Class B                                             | CUSIP: 224936AC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      311000 | PA      | $315817.83    | 0.00%             | 2033-10-17      | Fixed         | 7.09%                 | Yes           |                  2 | On Loan: No      |
| Republic of Ghana                                                           | Republic of Ghana                                                                                      | CUSIP: N/A<br>LEI: 213800PP4399SNNXZ126       | Long             | DBT              | NUSS              | GH        |     3600000 | PA      | $3276000.00   | 0.04%             | 2035-07-03      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| UDR, Inc.                                                                   | UDR, Inc.                                                                                              | CUSIP: 90265EAQ3<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |       36000 | PA      | $34627.75     | 0.00%             | 2030-01-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Gray Media, Inc.                                                            | Gray Media, Inc.                                                                                       | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     7110000 | PA      | $7636957.65   | 0.09%             | 2029-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Kyushu Electric Power Co., Inc.                                             | Kyushu Electric Power Co., Inc.                                                                        | CUSIP: N/A<br>LEI: 549300BYNZPLKQVQH430       | Long             | EC               | CORP              | JP        |       43600 | NS      | $485351.38    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                                                            | ArcelorMittal SA                                                                                       | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               | CORP              | LU        |       48901 | NS      | $2655719.47   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-J1, Class 1A13                                                     | CUSIP: 12668BKK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       80798 | PA      | $53810.59     | 0.00%             | 2036-02-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                                   | Sunoco LP                                                                                              | CUSIP: 86765LAZ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4022000 | PA      | $3927166.07   | 0.05%             | 2030-04-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                  | Prudential Financial, Inc.                                                                             | CUSIP: 744320BK7<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |      286000 | PA      | $295252.96    | 0.00%             | 2052-09-01      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-64CB, Class 1A1                                                    | CUSIP: 12668AZL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      266940 | PA      | $236990.94    | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                       | Clydesdale Acquisition Holdings, Inc.                                                                  | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     4910000 | PA      | $4948319.65   | 0.06%             | 2032-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ATI, Inc.                                                                   | ATI, Inc.                                                                                              | CUSIP: 01741RAN2<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     1820000 | PA      | $1907911.46   | 0.02%             | 2030-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Siemens AG                                                                  | Siemens AG (Registered)                                                                                | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |       37719 | NS      | $11403596.28  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Endeavour Mining plc                                                        | Endeavour Mining plc                                                                                   | CUSIP: N/A<br>LEI: 529900NI5MXQ91GHXR07       | Long             | EC               | CORP              | GB        |       50600 | NS      | $2880063.55   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Nevada Power Co.                                                            | Nevada Power Co.                                                                                       | CUSIP: 641423CH9<br>LEI: MJZFGXRJ52U8U4MKJ519 | Long             | DBT              | CORP              | US        |     1070000 | PA      | $1081986.14   | 0.01%             | 2055-05-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities Trust                                  | Bear Stearns Asset-Backed Securities Trust, Series 2003-SD1, Class M1                                  | CUSIP: 07384YKM7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      230965 | PA      | $278180.61    | 0.00%             | 2033-12-25      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc.                                                                               | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |      715105 | PA      | $715105.00    | 0.01%             | 2032-10-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series S                                                              | CUSIP: 38144GAC5<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     1490000 | PA      | $1490736.91   | 0.02%             | 2026-02-10      | Variable      | 7.19%                 | No            |                  2 | On Loan: No      |
| Block, Inc.                                                                 | Block, Inc.                                                                                            | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |      977000 | PA      | $994432.61    | 0.01%             | 2030-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                                | Verizon Communications, Inc.                                                                           | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      248906 | NS      | $11081295.12  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Poste Italiane SpA                                                          | Poste Italiane SpA                                                                                     | CUSIP: N/A<br>LEI: 815600354DEDBD0BA991       | Long             | EC               | CORP              | IT        |       68455 | NS      | $1802980.27   | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                                         | Hilcorp Energy I LP                                                                                    | CUSIP: 431318AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      183000 | PA      | $184502.43    | 0.00%             | 2028-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander SA                                                          | Banco Santander SA                                                                                     | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |     9800000 | PA      | $11827404.40  | 0.14%             | 2033-05-21      | Variable      | 9.62%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                       | NextEra Energy Capital Holdings, Inc., Series U                                                        | CUSIP: 65339K837<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |       85667 | NS      | $2193075.20   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| United Energy Group Ltd.                                                    | United Energy Group Ltd.                                                                               | CUSIP: N/A<br>LEI: 254900I49QKOOISW8F62       | Long             | EC               | CORP              | BM        |     3740000 | NS      | $307995.20    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Venator Materials LLC                                                       | Venator Materials LLC, 1st Lien Term Loan B                                                            | CUSIP: L9632YAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      187557 | PA      | $150045.83    | 0.00%             | 2026-07-16      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Trust                                                | Chase Mortgage Finance Trust, Series 2007-S2, Class 1A8                                                | CUSIP: 16163EAH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      181825 | PA      | $93227.86     | 0.00%             | 2037-03-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EchoStar Corp.                                                              | EchoStar Corp.                                                                                         | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |     2843717 | PA      | $2894158.85   | 0.03%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AE9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |       30000 | PA      | $27489.00     | 0.00%             | 2043-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Genesys Cloud Services, Inc.                                                | Genesys Cloud Services, Inc., 1st Lien Term Loan                                                       | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |     3501045 | PA      | $3417894.80   | 0.04%             | 2032-01-30      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-R1, Class B2                                                   | CUSIP: 92538BAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1322000 | PA      | $1197664.31   | 0.01%             | 2063-10-25      | Variable      | 4.20%                 | Yes           |                  2 | On Loan: No      |
| Cie Generale des Etablissements Michelin SCA                                | Cie Generale des Etablissements Michelin SCA                                                           | CUSIP: N/A<br>LEI: 549300SOSI58J6VIW052       | Long             | EC               | CORP              | FR        |       48724 | NS      | $1809396.88   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                | MASTR Alternative Loan Trust, Series 2004-12, Class 3A1                                                | CUSIP: 576434YF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      262070 | PA      | $264174.77    | 0.00%             | 2034-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     2398000 | PA      | $2401731.29   | 0.03%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Hyundai Motor Co.                                                           | Hyundai Motor Co.                                                                                      | CUSIP: N/A<br>LEI: 9884004RQX8PRBXQ8S60       | Long             | EC               | CORP              | KR        |       11377 | NS      | $3960397.41   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280DT3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |     8840000 | PA      | $9303092.24   | 0.11%             | 2028-03-07      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2019-GC40, Class E                                                | CUSIP: 36257HAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2250000 | PA      | $1452944.48   | 0.02%             | 2052-07-10      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC MSCR Trust, Series 2021-MN2, Class B1                                                            | CUSIP: 35563JAC7<br>LEI: 549300OXOJE8K5OHDX86 | Long             | ABS-MBS          | USGSE             | US        |     2000000 | PA      | $2000020.20   | 0.02%             | 2041-07-25      | Floating      | 9.20%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-AR4, Class 2A1                             | CUSIP: 22541SEZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       75123 | PA      | $75749.95     | 0.00%             | 2034-05-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Citi Asset Receivables Trust I                                              | Citi Asset Receivables Trust I, Series 2025-8, Class CERT                                              | CUSIP: 17302KAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      216152 | PA      | $218983.16    | 0.00%             | 2031-11-20      | Fixed         | 25.80%                | Yes           |                  3 | On Loan: No      |
| Hilcorp Energy I LP                                                         | Hilcorp Energy I LP                                                                                    | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1701000 | PA      | $1673643.67   | 0.02%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-LC23, Class D                                                   | CUSIP: 12636FAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2750000 | PA      | $2362250.00   | 0.03%             | 2048-10-10      | Variable      | 3.68%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                                         | Nexstar Media, Inc.                                                                                    | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     7740000 | PA      | $7693267.43   | 0.09%             | 2028-11-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Republic of Honduras                                                        | Republic of Honduras                                                                                   | CUSIP: 438180AK7<br>LEI: 5493002DW1JNBNG17615 | Long             | DBT              | NUSS              | HN        |     1190000 | PA      | $1370285.00   | 0.02%             | 2034-11-27      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: —       |
| Goldman Sachs International                                                 | Goldman Sachs International, ELN, 12.30%, 02/06/2026                                                   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | Long             | SN               | CORP              | GB        |       11879 | PA      | $5536301.21   | 0.06%             | 2026-02-06      | Fixed         | 12.30%                | No            |                  2 | On Loan: No      |
| Raven Acquisition Holdings LLC                                              | Raven Acquisition Holdings LLC                                                                         | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2130000 | PA      | $2134526.34   | 0.02%             | 2031-11-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                          | Venture Global Plaquemines LNG LLC                                                                     | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |      655000 | PA      | $730392.47    | 0.01%             | 2035-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 13.50%, 02/20/2026                                                    | CUSIP: 61780F153<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       11754 | PA      | $4914001.04   | 0.06%             | 2026-02-20      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| IRV Trust                                                                   | IRV Trust, Series 2025-200P, Class B                                                                   | CUSIP: 45006HAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1400000 | PA      | $1416980.88   | 0.02%             | 2047-03-14      | Variable      | 5.44%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                           | Credit Acceptance Auto Loan Trust, Series 2024-1A, Class C                                             | CUSIP: 22537GAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      420000 | PA      | $430396.43    | 0.00%             | 2034-07-17      | Fixed         | 6.71%                 | Yes           |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios SA                              | ACS Actividades de Construccion y Servicios SA                                                         | CUSIP: N/A<br>LEI: 95980020140005558665       | Long             | EC               | CORP              | ES        |       18763 | NS      | $2105138.44   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Residential Asset Securitization Trust                                      | Residential Asset Securitization Trust, Series 2005-A3, Class A2                                       | CUSIP: 45660LHS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |           0 | PA      | $0.00         | 0.00%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  3 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     4243000 | PA      | $4364808.04   | 0.05%             | 2033-02-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-18, Class 2A1                                             | CUSIP: 12544JAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      413559 | PA      | $127350.65    | 0.00%             | 2037-11-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                                                       | Walt Disney Co. (The)                                                                                  | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      296408 | NS      | $33434822.40  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Resources, Inc.                                                    | Franklin Resources, Inc.                                                                               | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Long             | EC               | CORP              | US        |      170725 | NS      | $4544699.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Mortgage Residential Trust                                         | Starwood Mortgage Residential Trust, Series 2020-INV1, Class B2                                        | CUSIP: 85573EAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1600000 | PA      | $1381182.40   | 0.02%             | 2055-11-25      | Fixed         | 4.26%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2016-P6, Class D                                           | CUSIP: 17291EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1325000 | PA      | $974375.06    | 0.01%             | 2049-12-10      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| AstraZeneca plc                                                             | AstraZeneca plc                                                                                        | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |       89065 | NS      | $16594064.85  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-HE6, Class M2                                    | CUSIP: 61744CFC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      354566 | PA      | $353066.34    | 0.00%             | 2034-08-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Esab Corp.                                                                  | Esab Corp.                                                                                             | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |     1862000 | PA      | $1913264.58   | 0.02%             | 2029-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GZR8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      983000 | PA      | $978651.94    | 0.01%             | 2028-03-15      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                                                       | Global Payments, Inc.                                                                                  | CUSIP: 37940XAW2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |      640000 | PA      | $639852.33    | 0.01%             | 2030-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 16.80%, 02/13/2026                                                    | CUSIP: 61778U733<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       11818 | PA      | $3328191.78   | 0.04%             | 2026-02-13      | Fixed         | 16.80%                | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 14.30%, 02/13/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       37479 | PA      | $4760268.27   | 0.06%             | 2026-02-13      | Fixed         | 14.30%                | No            |                  2 | On Loan: No      |
| TopBuild Corp.                                                              | TopBuild Corp.                                                                                         | CUSIP: 89055FAC7<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |      409000 | PA      | $388761.13    | 0.00%             | 2032-02-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: —       |
| Amgen, Inc.                                                                 | Amgen, Inc.                                                                                            | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       14160 | NS      | $4841020.80   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kemira OYJ                                                                  | Kemira OYJ                                                                                             | CUSIP: N/A<br>LEI: 74370031Y7RK5H88CQ48       | Long             | EC               | CORP              | FI        |       68045 | NS      | $1600478.57   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Callaway Golf Co.                                                           | Callaway Golf Co., 1st Lien Term Loan                                                                  | CUSIP: 89071LAB6<br>LEI: 5493005UB0KFRKBPCU72 | Long             | LON              | CORP              | US        |       29957 | PA      | $30016.12     | 0.00%             | 2030-03-18      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                          | Energy Transfer LP                                                                                     | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      636000 | PA      | $679623.88    | 0.01%             | 2054-05-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Ukraine                                                                     | Ukraine Government Bond                                                                                | CUSIP: N/A<br>LEI: 6354001WLTJXOMEXPY07       | Long             | DBT              | NUSS              | UA        |     4530000 | PA      | $2844840.00   | 0.03%             | 2034-02-01      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     2541000 | PA      | $2706276.80   | 0.03%             | 2028-09-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Spark New Zealand Ltd.                                                      | Spark New Zealand Ltd.                                                                                 | CUSIP: N/A<br>LEI: 529900HUN51H3Y7QBB66       | Long             | EC               | CORP              | NZ        |      442147 | NS      | $601649.76    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Exeter Automobile Receivables Trust                                         | Exeter Automobile Receivables Trust, Series 2025-3A, Class D                                           | CUSIP: 30166XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      510000 | PA      | $520307.51    | 0.01%             | 2031-10-15      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                                     | FHLMC STACR REMIC Trust, Series 2021-DNA1, Class B2                                                    | CUSIP: 35564KBE8<br>LEI: 5493000IT1PBTE7DAT80 | Long             | ABS-MBS          | CORP              | US        |     3800000 | PA      | $4245646.14   | 0.05%             | 2051-01-25      | Floating      | 8.45%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: 456837AV5<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |      350000 | PA      | $348769.57    | 0.00%             | 2027-04-01      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| Paychex, Inc.                                                               | Paychex, Inc.                                                                                          | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |        1748 | NS      | $180271.24    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2006-AR2, Class 1A1                              | CUSIP: 92925CDQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      124274 | PA      | $112846.64    | 0.00%             | 2036-03-25      | Variable      | 4.45%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2020-145                                                                                  | CUSIP: 38380P2T0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    52447845 | PA      | $2716903.28   | 0.03%             | 2063-03-16      | Variable      | 0.73%                 | No            |                  2 | On Loan: No      |
| ANDRITZ AG                                                                  | ANDRITZ AG                                                                                             | CUSIP: N/A<br>LEI: 549300VZKC61IR5U8G96       | Long             | EC               | CORP              | AT        |       17446 | NS      | $1509505.40   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Organon & Co.                                                               | Organon & Co.                                                                                          | CUSIP: 68622FAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1320000 | PA      | $1289879.05   | 0.01%             | 2034-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Microsoft Corp.                                                             | Microsoft Corp.                                                                                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      173315 | NS      | $74575711.35  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2017-CD4, Class D                                                            | CUSIP: 12515DAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $878686.10    | 0.01%             | 2050-05-10      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                                                   | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     7562000 | PA      | $7482753.26   | 0.09%             | 2029-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| New Evhc Physical Equity                                                    | New Evhc Physical Equity                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        6493 | NS      | $100235.69    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Santander Bank Polska SA                                                    | Santander Bank Polska SA                                                                               | CUSIP: N/A<br>LEI: 259400LGXW3K0GDAG361       | Long             | EC               | CORP              | PL        |        2516 | NS      | $394721.08    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RFMSI Trust                                                                 | RFMSI Trust, Series 2006-S10, Class 1A1                                                                | CUSIP: 74958DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      904015 | PA      | $736711.85    | 0.01%             | 2036-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BCPE Pequod Buyer, Inc.                                                     | BCPE Pequod Buyer, Inc., 1st Lien Term Loan                                                            | CUSIP: 05624AAB8<br>LEI: 254900HEEOS2IWC84V94 | Long             | LON              | CORP              | US        |     3976045 | PA      | $3954494.81   | 0.05%             | 2031-11-25      | Variable      | 6.42%                 | 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        |     2852464 | PA      | $2848898.54   | 0.03%             | 2031-03-28      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Lehman Mortgage Trust                                                       | Lehman Mortgage Trust, Series 2007-7, Class 5A7                                                        | CUSIP: 52519BBP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     6576418 | PA      | $2803941.14   | 0.03%             | 2037-08-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EchoStar Corp.                                                              | EchoStar Corp.                                                                                         | CUSIP: 278768AB2<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |     1321084 | PA      | $4581684.45   | 0.05%             | 2030-11-30      | Fixed         | 3.88%                 | 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        |      459167 | PA      | $431952.26    | 0.00%             | 2028-09-15      | Variable      | 7.42%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2003-NC10, Class M1                                   | CUSIP: 61746RDX6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       57368 | PA      | $57327.45     | 0.00%             | 2033-10-25      | Floating      | 4.81%                 | 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        |      562407 | PA      | $558189.44    | 0.01%             | 2030-02-06      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 14.30%, 02/13/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       57816 | PA      | $5774402.84   | 0.07%             | 2026-02-13      | Fixed         | 14.30%                | No            |                  2 | On Loan: No      |
| CITI ASSET RECEIVABLES TRUST I SERIES                                       | Citi Asset Receivables Trust I, Series 2025-9, Class CERT                                              | CUSIP: 17292FAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      259016 | PA      | $268069.02    | 0.00%             | 2031-12-20      | Fixed         | 25.14%                | Yes           |                  3 | On Loan: No      |
| Georgian Railway JSC                                                        | Georgian Railway JSC                                                                                   | CUSIP: N/A<br>LEI: 2138005UZV4ZT2B2ZO19       | Long             | DBT              | CORP              | GE        |      700000 | PA      | $666750.00    | 0.01%             | 2028-06-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Moscow Exchange MICEX-RTS PJSC                                              | Moscow Exchange MICEX-RTS PJSC                                                                         | CUSIP: N/A<br>LEI: 253400M5M1222KPNWE87       | Long             | EC               | CORP              | RU        |     2552458 | NS      | $2.55         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Madison IAQ LLC                                                             | Madison IAQ LLC                                                                                        | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |     1725000 | PA      | $1704333.81   | 0.02%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp.                                                                                  | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      446138 | NS      | $23734541.60  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Operating LLC                                        | Charter Communications Operating LLC, 1st Lien Term Loan B-4                                           | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |     1323000 | PA      | $1319335.29   | 0.02%             | 2030-12-09      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| National CineMedia, Inc.                                                    | National CineMedia, Inc.                                                                               | CUSIP: 635309206<br>LEI: 5493000MOLIVSOGKEB48 | Long             | EC               | CORP              | US        |      107211 | NS      | $387031.71    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK                                                                        | BANK, Series 2020-BN28, Class E                                                                        | CUSIP: 06540YBH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3000000 | PA      | $2236260.30   | 0.03%             | 2063-03-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                                   | Republic of Cote d'Ivoire                                                                              | CUSIP: 221625AU0<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |      532000 | PA      | $571772.32    | 0.01%             | 2037-01-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: —       |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-4, Class 4A1                               | CUSIP: 22541SUY2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      576542 | PA      | $594809.42    | 0.01%             | 2034-08-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Belron Finance 2019 LLC                                                     | Belron Finance 2019 LLC, 1st Lien Term Loan                                                            | CUSIP: 08078UAN3<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |     2078356 | PA      | $2083032.69   | 0.02%             | 2031-10-16      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| CF Industries Holdings, Inc.                                                | CF Industries Holdings, Inc.                                                                           | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |       47471 | NS      | $4425721.33   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern California Edison Co.                                              | Southern California Edison Co.                                                                         | CUSIP: 842400JE4<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |      580000 | PA      | $600211.00    | 0.01%             | 2031-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                                            | Altice France SA                                                                                       | CUSIP: 02090DAB4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |      282012 | PA      | $277249.72    | 0.00%             | 2030-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Public Storage                                                              | Public Storage                                                                                         | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |       11527 | NS      | $3183642.13   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Inpex Corp.                                                                 | Inpex Corp.                                                                                            | CUSIP: N/A<br>LEI: 353800VHYYADPR6MXQ47       | Long             | EC               | CORP              | JP        |       44300 | NS      | $992506.80    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2025-42                                                                                   | CUSIP: 38381MBQ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    22567555 | PA      | $1087259.69   | 0.01%             | 2065-11-16      | Variable      | 0.54%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust, Inc.                                         | Citigroup Mortgage Loan Trust, Inc., Series 2005-6, Class A1                                           | CUSIP: 17307GXP8<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |      111296 | PA      | $113379.07    | 0.00%             | 2035-09-25      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                                            | Ventas Realty LP                                                                                       | CUSIP: 92277GAM9<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |       22000 | PA      | $21990.35     | 0.00%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA                                                         | Wells Fargo Bank NA, ELN, 07.30%, 02/06/2026                                                           | CUSIP: 95005A706<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | SN               | CORP              | US        |       17578 | PA      | $5248127.53   | 0.06%             | 2026-02-06      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                        | LHOME Mortgage Trust, Series 2024-RTL3, Class A1                                                       | CUSIP: 50205GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5000000 | PA      | $5049006.50   | 0.06%             | 2029-05-25      | Variable      | 6.90%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 10.20%, 02/13/2026                                                    | CUSIP: 61778U790<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       19698 | PA      | $4052159.91   | 0.05%             | 2026-02-13      | Fixed         | 10.20%                | Yes           |                  2 | On Loan: No      |
| Transocean International Ltd.                                               | Transocean International Ltd.                                                                          | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |      979500 | PA      | $1021064.10   | 0.01%             | 2030-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| GMACM Mortgage Loan Trust                                                   | GMACM Mortgage Loan Trust, Series 2004-AR2, Class 3A                                                   | CUSIP: 36185N3T5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      131864 | PA      | $119944.95    | 0.00%             | 2034-08-19      | Variable      | 4.52%                 | No            |                  2 | On Loan: No      |
| INEOS Quattro Finance 2 plc                                                 | INEOS Quattro Finance 2 plc                                                                            | CUSIP: 45674GAB0<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |     1867000 | PA      | $1481371.15   | 0.02%             | 2029-03-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: —       |
| Evergy, Inc.                                                                | Evergy, Inc.                                                                                           | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |       60642 | NS      | $4653060.66   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ballyrock CLO Ltd.                                                          | Ballyrock CLO Ltd., Series 2020-2A, Class A2R                                                          | CUSIP: 05875DAL6<br>LEI: 254900Y6C4AXEAZ9T124 | Long             | ABS-CBDO         | CORP              | KY        |     2900000 | PA      | $2906197.30   | 0.03%             | 2031-10-20      | Floating      | 5.48%                 | Yes           |                  2 | On Loan: No      |
| Rio Tinto plc                                                               | Rio Tinto plc                                                                                          | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |      112453 | NS      | $10259574.64  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| AB BSL CLO 1 Ltd.                                                           | AB BSL CLO Ltd., Series 2020-1A, Class BR2                                                             | CUSIP: 00038KBC4<br>LEI: 549300UT754V8VGM9T25 | Long             | ABS-CBDO         | CORP              | KY        |      850000 | PA      | $852829.65    | 0.01%             | 2038-10-15      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Gold Fields Ltd.                                                            | Gold Fields Ltd.                                                                                       | CUSIP: N/A<br>LEI: 5299003KXIBJQYCBBD72       | Long             | EC               | CORP              | ZA        |      138243 | NS      | $6836762.10   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Mirion Technologies, Inc.                                                   | Mirion Technologies, Inc., 1st Lien Term Loan                                                          | CUSIP: 60470HAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      396631 | PA      | $396631.47    | 0.00%             | 2032-06-04      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Compass Minerals International, Inc.                                        | Compass Minerals International, Inc.                                                                   | CUSIP: 20451NAJ0<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |     1243000 | PA      | $1318370.22   | 0.02%             | 2030-07-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| KDX Realty Investment Corp.                                                 | KDX Realty Investment Corp.                                                                            | CUSIP: N/A<br>LEI: 353800FFT483NCIHFY42       | Long             | EC               | CORP              | JP        |         706 | NS      | $763776.67    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                                                 | ONEOK, Inc.                                                                                            | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |       54527 | NS      | $4317993.13   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp.                                                        | Kimberly-Clark Corp.                                                                                   | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |       39714 | NS      | $3971002.86   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Islamic Republic of Pakistan                                                | Islamic Republic of Pakistan                                                                           | CUSIP: N/A<br>LEI: 529900LOP29R5WKHOD86       | Long             | DBT              | NUSS              | PK        |     1200000 | PA      | $1198800.00   | 0.01%             | 2026-04-08      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp                                                                                             | CUSIP: 91159HJQ4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |       82000 | PA      | $84867.80     | 0.00%             | 2030-01-23      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Connect Holding II LLC                                                      | Connect Holding II LLC                                                                                 | CUSIP: 20753PAD3<br>LEI: 254900LCX7S2QHYUOI31 | Long             | DBT              | CORP              | US        |     4118000 | PA      | $4041765.43   | 0.05%             | 2031-04-03      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Safran SA                                                                   | Safran SA                                                                                              | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |       84781 | NS      | $30291524.43  | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| OCP SA                                                                      | OCP SA                                                                                                 | CUSIP: N/A<br>LEI: 213800D26TAPVTCVWG40       | Long             | DBT              | NUSS              | MA        |     1000000 | PA      | $808030.00    | 0.01%             | 2051-06-23      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Centrica plc                                                                | Centrica plc                                                                                           | CUSIP: N/A<br>LEI: E26EDV109X6EEPBKVH76       | Long             | EC               | CORP              | GB        |     1061633 | NS      | $2779897.38   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 10.00%, 02/06/2026                                                    | CUSIP: 61778U535<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       13785 | PA      | $6092739.27   | 0.07%             | 2026-02-06      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2006-QS3, Class 1A10                                                                | CUSIP: 761118XN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      618264 | PA      | $561078.94    | 0.01%             | 2036-03-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Equinor ASA                                                                 | Equinor ASA                                                                                            | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |      151173 | NS      | $4063307.71   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Matador Resources Co.                                                       | Matador Resources Co.                                                                                  | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |     2616000 | PA      | $2636530.37   | 0.03%             | 2033-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Bolivarian Republic of Venezuela                                            | Bolivarian Republic of Venezuela                                                                       | CUSIP: N/A<br>LEI: 529900XM8PJTJK5OJI77       | Long             | DBT              | NUSS              | VE        |      700000 | PA      | $282800.00    | 0.00%             | 2028-05-07      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                 | Allied Universal Holdco LLC, 1st Lien Term Loan                                                        | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |     1001490 | PA      | $1002471.46   | 0.01%             | 2032-08-20      | Variable      | 6.92%                 | 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        |      706757 | PA      | $602863.42    | 0.01%             | 2028-05-12      | Variable      | 7.42%                 | No            |                  2 | On Loan: No      |
| Entergy Corp.                                                               | Entergy Corp.                                                                                          | CUSIP: 29364GAR4<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |     2945000 | PA      | $2947859.77   | 0.03%             | 2056-06-15      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-25CB, Class A2                                                     | CUSIP: 02147VAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      185082 | PA      | $91964.09     | 0.00%             | 2036-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series RR                                                                       | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     2627000 | PA      | $2613491.97   | 0.03%             | 2027-01-27      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC, 1st Lien Term Loan B-10                                                                   | CUSIP: 04649VBB5<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |      328116 | PA      | $328371.72    | 0.00%             | 2028-08-21      | Variable      | 7.77%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc.                                                                                         | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     4061000 | PA      | $4430120.53   | 0.05%             | 2083-01-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: 53944YAX1<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |     2100000 | PA      | $2201018.69   | 0.03%             | 2035-01-05      | Variable      | 5.68%                 | 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        |     6149670 | PA      | $6129683.93   | 0.07%             | 2029-04-16      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                                       | Foundry JV Holdco LLC                                                                                  | CUSIP: 350930AF0<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |      200000 | PA      | $207119.43    | 0.00%             | 2031-01-25      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Banco BPM SpA                                                               | Banco BPM SpA                                                                                          | CUSIP: N/A<br>LEI: 815600E4E6DCD2D25E30       | Long             | EC               | CORP              | IT        |      122133 | NS      | $1830690.74   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| APi Group DE, Inc.                                                          | APi Group DE, Inc., 1st Lien Term Loan                                                                 | CUSIP: 00186XAN3<br>LEI: 549300XP4G7B4QYA0G83 | Long             | LON              | CORP              | US        |      640891 | PA      | $642025.12    | 0.01%             | 2029-01-03      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR25, Class D                                                   | CUSIP: 12593PBB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1332784 | PA      | $1286149.52   | 0.01%             | 2048-08-10      | Variable      | 3.47%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205AZ7<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     2700000 | PA      | $2420550.00   | 0.03%             | 2048-06-22      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397D42<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |      896000 | PA      | $963877.85    | 0.01%             | 2030-06-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Emerson Electric Co.                                                        | Emerson Electric Co.                                                                                   | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |      149975 | NS      | $22040326.00  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| American Builders & Contractors Supply Co., Inc.                            | American Builders & Contractors Supply Co., Inc.                                                       | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |     2810000 | PA      | $2773607.13   | 0.03%             | 2028-01-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                             | TransDigm, Inc., 1st Lien Term Loan K                                                                  | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |      480203 | PA      | $479664.91    | 0.01%             | 2030-03-22      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| SoftBank Corp.                                                              | SoftBank Corp.                                                                                         | CUSIP: N/A<br>LEI: 353800M1YCTS9JRBJ535       | Long             | EC               | CORP              | JP        |     1805900 | NS      | $2454686.02   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                          | Morgan Stanley Mortgage Loan Trust, Series 2007-5AX, Class 2A2                                         | CUSIP: 61751GAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2622006 | PA      | $498622.21    | 0.01%             | 2037-02-25      | Floating      | 4.09%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                                                       | Saudi Arabian Oil Co.                                                                                  | CUSIP: N/A<br>LEI: 5586006WD91QHB7J4X50       | Long             | EC               | CORP              | SA        |      668844 | NS      | $4597784.51   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing III LLC                                             | Hertz Vehicle Financing LLC, Series 2023-2A, Class D                                                   | CUSIP: 42806MBZ1<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |      700000 | PA      | $740577.25    | 0.01%             | 2029-09-25      | Fixed         | 9.40%                 | Yes           |                  2 | On Loan: No      |
| Volvo AB                                                                    | Volvo AB, Class B                                                                                      | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |      800730 | NS      | $29096469.05  | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: 65412JAC7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      750000 | PA      | $760312.50    | 0.01%             | 2027-11-28      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Koninklijke Heijmans N.V.                                                   | Koninklijke Heijmans N.V.                                                                              | CUSIP: N/A<br>LEI: 724500OUE3PCA809DZ79       | Long             | EC               | CORP              | NL        |       29604 | NS      | $2412146.06   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp                                                                                             | CUSIP: 91159HJP6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |      250000 | PA      | $255177.58    | 0.00%             | 2027-10-26      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                           | Credit Acceptance Auto Loan Trust, Series 2024-1A, Class B                                             | CUSIP: 22537GAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      320000 | PA      | $325149.25    | 0.00%             | 2034-05-15      | Fixed         | 6.03%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                                   | Sunoco LP                                                                                              | CUSIP: 86765LAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      413000 | PA      | $413015.28    | 0.00%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                | DaVita, Inc.                                                                                           | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     1611000 | PA      | $1659397.66   | 0.02%             | 2032-09-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                                     | RHP Hotel Properties LP                                                                                | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      884000 | PA      | $910148.72    | 0.01%             | 2028-07-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Nordea Bank Abp                                                             | Nordea Bank Abp                                                                                        | CUSIP: 65558RAK5<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |     2680000 | PA      | $2740002.52   | 0.03%             | 2031-09-25      | Variable      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Millicom International Cellular SA                                          | Millicom International Cellular SA                                                                     | CUSIP: N/A<br>LEI: 549300CTHC1CP86P2G96       | Long             | EC               | CORP              | LU        |       42138 | NS      | $2571682.14   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                          | Renaissance Home Equity Loan Trust, Series 2002-3, Class M1                                            | CUSIP: 75970NAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      259449 | PA      | $245274.32    | 0.00%             | 2032-12-25      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp.                                                         | Expand Energy Corp.                                                                                    | CUSIP: 845467AT6<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |      918000 | PA      | $909599.10    | 0.01%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Plus500 Ltd.                                                                | Plus500 Ltd.                                                                                           | CUSIP: N/A<br>LEI: 549300X8NGW9C5OJZU13       | Long             | EC               | CORP              | IL        |       25273 | NS      | $1454751.34   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| American Express Co.                                                        | American Express Co.                                                                                   | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     3302000 | PA      | $3267490.47   | 0.04%             | 2026-09-15      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| Republic of Paraguay                                                        | Republic of Paraguay                                                                                   | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |     1380000 | PA      | $1410360.00   | 0.02%             | 2044-08-11      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDP4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |      600000 | PA      | $698448.00    | 0.01%             | 2033-02-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| PG&E Corp.                                                                  | PG&E Corp.                                                                                             | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     2693000 | PA      | $2779307.90   | 0.03%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                                      | Lendmark Funding Trust, Series 2025-2A, Class C                                                        | CUSIP: 52603GAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      950000 | PA      | $957990.45    | 0.01%             | 2034-10-20      | Fixed         | 5.28%                 | Yes           |                  2 | On Loan: No      |
| 3M Co.                                                                      | 3M Co.                                                                                                 | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |       95669 | NS      | $14652664.04  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| New Residential Mortgage Loan Trust                                         | New Residential Mortgage Loan Trust, Series 2024-RTL1, Class A1                                        | CUSIP: 64831PAA3<br>LEI: 213800CVLC5IFCJL6C96 | Long             | ABS-MBS          | CORP              | US        |     3750000 | PA      | $3763789.88   | 0.04%             | 2039-03-25      | Variable      | 6.66%                 | Yes           |                  2 | On Loan: No      |
| Paraguay Government International Bond                                      | Republic of Paraguay                                                                                   | CUSIP: 699149AH3<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |      950000 | PA      | $876731.25    | 0.01%             | 2050-03-30      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Co.                                               | Perrigo Finance Unlimited Co.                                                                          | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |     1343000 | PA      | $1320876.63   | 0.02%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                      | Velocity Commercial Capital Loan Trust, Series 2018-2, Class M3                                        | CUSIP: 92259BAK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      147352 | PA      | $137907.84    | 0.00%             | 2048-10-26      | Variable      | 4.72%                 | Yes           |                  2 | On Loan: No      |
| Carlsberg A/S                                                               | Carlsberg A/S, Class B                                                                                 | CUSIP: N/A<br>LEI: 5299001O0WJQYB5GYZ19       | Long             | EC               | CORP              | DK        |       13553 | NS      | $1842519.41   | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| Santander UK Group Holdings plc                                             | Santander UK Group Holdings plc                                                                        | CUSIP: 80281LAR6<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |      250000 | PA      | $246152.88    | 0.00%             | 2028-01-11      | Variable      | 2.47%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2019-C52, Class XA                                       | CUSIP: 95002MAY5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5797214 | PA      | $248610.05    | 0.00%             | 2052-08-15      | Variable      | 1.56%                 | No            |                  2 | On Loan: No      |
| Telkom Indonesia Persero Tbk. PT                                            | Telkom Indonesia Persero Tbk. PT                                                                       | CUSIP: N/A<br>LEI: 529900M5SQZAOKV1PC81       | Long             | EC               | CORP              | ID        |    35262700 | NS      | $7537769.12   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                          | VICI Properties LP                                                                                     | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3583000 | PA      | $3583832.80   | 0.04%             | 2029-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Marriott International, Inc.                                                | Marriott International, Inc.                                                                           | CUSIP: 571903BV4<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |      133000 | PA      | $133441.08    | 0.00%             | 2027-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                                            | TotalEnergies SE                                                                                       | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |       86688 | NS      | $6304711.17   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Woolworths Group Ltd.                                                       | Woolworths Group Ltd.                                                                                  | CUSIP: N/A<br>LEI: QNWEWQBS7HP85QHXQL92       | Long             | EC               | CORP              | AU        |       75089 | NS      | $1611439.26   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83370RAA6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     5432000 | PA      | $5281140.32   | 0.06%             | 2030-11-18      | Variable      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                                 | IQVIA, Inc.                                                                                            | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |     6890000 | PA      | $6887495.49   | 0.08%             | 2026-10-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                             | TransDigm, Inc.                                                                                        | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     4771000 | PA      | $4906138.58   | 0.06%             | 2029-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Naturgy Energy Group SA                                                     | Naturgy Energy Group SA                                                                                | CUSIP: N/A<br>LEI: TL2N6M87CW970S5SV098       | Long             | EC               | CORP              | ES        |       51138 | NS      | $1605123.02   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA                                                                                    | CUSIP: 83368RBV3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |      897000 | PA      | $908513.66    | 0.01%             | 2028-01-19      | Variable      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YER2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |       20000 | PA      | $20045.40     | 0.00%             | 2028-04-20      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple            | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple                                       | CUSIP: 05974EAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |      683450 | PA      | $710863.27    | 0.01%             | 2041-01-31      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Four Seasons Hotels Ltd.                                                    | Four Seasons Hotels Ltd., 1st Lien Term Loan                                                           | CUSIP: 35100DAW6<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |      442082 | PA      | $444588.89    | 0.01%             | 2032-09-22      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Kone OYJ                                                                    | Kone OYJ, Class B                                                                                      | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               | CORP              | FI        |       40600 | NS      | $2917714.90   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| FS Luxembourg Sarl                                                          | FS Luxembourg SARL                                                                                     | CUSIP: 30315XAD6<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |     1720000 | PA      | $1776519.20   | 0.02%             | 2033-06-25      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: —       |
| Vistra Operations Co. LLC                                                   | Vistra Operations Co. LLC                                                                              | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |       81000 | PA      | $81067.83     | 0.00%             | 2027-07-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Engie SA                                                                    | Engie SA                                                                                               | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |      890076 | NS      | $26574499.66  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Salmar ASA                                                                  | Salmar ASA                                                                                             | CUSIP: N/A<br>LEI: 5967007LIEEXZXGDBK67       | Long             | EC               | CORP              | NO        |       12216 | NS      | $727712.76    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                           | Barclays Bank plc, ELN, 15.60%, 02/13/2026                                                             | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |       89945 | PA      | $2637400.49   | 0.03%             | 2026-02-13      | Fixed         | 15.60%                | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                       | Alexandria Real Estate Equities, Inc.                                                                  | CUSIP: 015271AP4<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |      300000 | PA      | $299894.28    | 0.00%             | 2026-04-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Fibercop SpA                                                                | Fibercop SpA, Series 2033                                                                              | CUSIP: 683879AB6<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |      856000 | PA      | $866922.56    | 0.01%             | 2033-11-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 78454LAY6<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     1583000 | PA      | $1587056.22   | 0.02%             | 2032-08-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| Brazilian Real                                                              | Brazilian Real                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | BR        |          -1 | OU      | $-0.19        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BAT Capital Corp.                                                           | BAT Capital Corp.                                                                                      | CUSIP: 05526DCB9<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |      525000 | PA      | $545318.79    | 0.01%             | 2032-08-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Bayerische Motoren Werke AG                                                 | Bayerische Motoren Werke AG                                                                            | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               | CORP              | DE        |        9355 | NS      | $963381.13    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Shriram Finance Ltd.                                                        | Shriram Finance Ltd.                                                                                   | CUSIP: N/A<br>LEI: 335800TM2YO24B76XL26       | Long             | EC               | CORP              | IN        |      259033 | NS      | $2875409.22   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2016-C1, Class D                                           | CUSIP: 17290YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4975000 | PA      | $4773591.60   | 0.06%             | 2049-05-10      | Variable      | 4.94%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC MSCR Trust, Series 2025-MN10, Class M2                                                           | CUSIP: 35563UAB4<br>LEI: 529900M14O2Z3FO2N217 | Long             | ABS-MBS          | USGSE             | US        |     2500000 | PA      | $2526266.75   | 0.03%             | 2045-02-25      | Floating      | 6.55%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K116, Class X3                        | CUSIP: 3137FWHW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    10500000 | PA      | $1215560.85   | 0.01%             | 2047-09-25      | Variable      | 3.02%                 | No            |                  2 | On Loan: No      |
| Chevron Phillips Chemical Co. LLC                                           | Chevron Phillips Chemical Co. LLC                                                                      | CUSIP: 166754AP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      155000 | PA      | $154272.71    | 0.00%             | 2026-12-01      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Xerox Holdings Corp.                                                        | Xerox Holdings Corp.                                                                                   | CUSIP: 98421MAB2<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |      100000 | PA      | $44008.74     | 0.00%             | 2028-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| Prairie Acquiror LP                                                         | Prairie Acquiror LP                                                                                    | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |     1057000 | PA      | $1096321.46   | 0.01%             | 2029-08-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Nestle SA                                                                   | Nestle SA (Registered)                                                                                 | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |       83588 | NS      | $7976514.65   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Admiral Group plc                                                           | Admiral Group plc                                                                                      | CUSIP: N/A<br>LEI: 213800FGVM7Z9EJB2685       | Long             | EC               | CORP              | GB        |       36863 | NS      | $1387300.94   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Miter Brands Acquisition Holdco, Inc.                                       | Miter Brands Acquisition Holdco, Inc.                                                                  | CUSIP: 60672JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1677000 | PA      | $1722384.65   | 0.02%             | 2032-04-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K088, Class X3                        | CUSIP: 3137FL6H2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    10130000 | PA      | $654861.95    | 0.01%             | 2047-02-25      | Variable      | 2.35%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                    | Venture Global LNG, Inc.                                                                               | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     3087000 | PA      | $3287253.69   | 0.04%             | 2029-02-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Stagwell Global LLC                                                         | Stagwell Global LLC                                                                                    | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |     5741000 | PA      | $5566838.15   | 0.06%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| KBC Group NV                                                                | KBC Group NV                                                                                           | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |       12401 | NS      | $1747494.97   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Tire Corp. Ltd.                                                    | Canadian Tire Corp. Ltd., Class A                                                                      | CUSIP: 136681202<br>LEI: 549300RLHDA7VQYMUB14 | Long             | EC               | CORP              | CA        |       15633 | NS      | $1923284.37   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Novelis Corp.                                                               | Novelis Corp.                                                                                          | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     1140000 | PA      | $1161243.90   | 0.01%             | 2033-08-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Morgan Sindall Group plc                                                    | Morgan Sindall Group plc                                                                               | CUSIP: N/A<br>LEI: 2138008339ULDGZRB345       | Long             | EC               | CORP              | GB        |       27438 | NS      | $1850958.01   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |     1400000 | PA      | $1407756.56   | 0.02%             | 2028-05-09      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                              | CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-10, Class 5A3                              | CUSIP: 225470EE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      213579 | PA      | $148808.68    | 0.00%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                                         | Station Casinos LLC, 1st Lien Term Loan B                                                              | CUSIP: 85769EBB6<br>LEI: 5493004E7Q60TX54WL62 | Long             | LON              | CORP              | US        |      444974 | PA      | $444929.04    | 0.01%             | 2031-03-14      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Octagon 64 Ltd.                                                             | Octagon Ltd., Series 2022-1A, Class DR                                                                 | CUSIP: 67579ABE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      250000 | PA      | $249553.00    | 0.00%             | 2037-07-21      | Floating      | 7.27%                 | Yes           |                  2 | On Loan: No      |
| Japan Exchange Group, Inc.                                                  | Japan Exchange Group, Inc.                                                                             | CUSIP: N/A<br>LEI: 353800578ADEGIJTVW07       | Long             | EC               | CORP              | JP        |      395400 | NS      | $4314692.81   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: N/A<br>LEI: 549300KPBYGYF7HCHO27       | Long             | DBT              | NUSS              | AR        |     3980000 | PA      | $2344385.97   | 0.03%             | 2030-07-09      | Variable      | 0.76%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                | Royal Caribbean Cruises Ltd.                                                                           | CUSIP: 780153BU5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     5835000 | PA      | $6050794.46   | 0.07%             | 2032-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Fortis, Inc.                                                                | Fortis, Inc.                                                                                           | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |       87063 | NS      | $4641995.96   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AL Sydbank                                                                  | AL Sydbank                                                                                             | CUSIP: N/A<br>LEI: GP5DT10VX1QRQUKVBK64       | Long             | EC               | CORP              | DK        |       15271 | NS      | $1383009.53   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Metcash Ltd.                                                                | Metcash Ltd.                                                                                           | CUSIP: N/A<br>LEI: 25490065W4SN3LZMX216       | Long             | EC               | CORP              | AU        |      329100 | NS      | $758713.14    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2018-COR3, Class D                                                   | CUSIP: 12595VAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $811516.60    | 0.01%             | 2051-05-10      | Variable      | 2.84%                 | Yes           |                  2 | On Loan: No      |
| Constellation Renewables LLC                                                | Constellation Renewables LLC, 1st Lien Term Loan                                                       | CUSIP: 30204KAD8<br>LEI: 5493004JBPWTPTK8LB51 | Long             | LON              | CORP              | US        |      386168 | PA      | $386287.38    | 0.00%             | 2027-12-15      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2019-BN16, Class F                                                                        | CUSIP: 065405AQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $734403.20    | 0.01%             | 2052-02-15      | Variable      | 3.67%                 | Yes           |                  2 | On Loan: No      |
| Star Parent, Inc.                                                           | Star Parent, Inc., 1st Lien Term Loan                                                                  | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |     1915875 | PA      | $1916219.86   | 0.02%             | 2030-09-27      | Variable      | 7.67%                 | No            |                  2 | On Loan: No      |
| Republic of Kenya                                                           | Republic of Kenya                                                                                      | CUSIP: 491798AN4<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     2316000 | PA      | $2475804.00   | 0.03%             | 2036-03-05      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Ensemble RCM LLC                                                            | Ensemble RCM LLC, 1st Lien Term Loan B                                                                 | CUSIP: 29359BAE1<br>LEI: 254900PDXJVVI20WAQ37 | Long             | LON              | CORP              | US        |      238507 | PA      | $236271.80    | 0.00%             | 2029-08-01      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                          | Energy Transfer LP                                                                                     | CUSIP: 29273VBG4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     7575000 | PA      | $7575363.60   | 0.09%             | 2056-02-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                                    | Lloyds Banking Group plc                                                                               | CUSIP: 53944YAZ6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |      318000 | PA      | $322124.80    | 0.00%             | 2028-01-05      | Variable      | 5.46%                 | 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        |      480361 | PA      | $480634.59    | 0.01%             | 2029-03-19      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| EnfraGen Energia Sur SA                                                     | EnfraGen Energia Sur SA                                                                                | CUSIP: N/A<br>LEI: 2549002TO75PYMY3VY07       | Long             | DBT              | CORP              | ES        |      950000 | PA      | $884117.50    | 0.01%             | 2030-12-30      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                                | Barclays plc                                                                                           | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     1500000 | PA      | $1705879.50   | 0.02%             | 2029-12-15      | Variable      | 9.62%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                   | RTX Corp.                                                                                              | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |       25581 | NS      | $5139990.33   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner, Inc.                                                               | Gartner, Inc.                                                                                          | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |     1975000 | PA      | $1970131.90   | 0.02%             | 2028-07-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                                                     | BPCE SA                                                                                                | CUSIP: 05571AAQ8<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |      518000 | PA      | $527020.13    | 0.01%             | 2027-10-19      | Variable      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| Unipol Assicurazioni SpA                                                    | Unipol Assicurazioni SpA                                                                               | CUSIP: N/A<br>LEI: 8156005CE5E7340CCA86       | Long             | EC               | CORP              | IT        |       71237 | NS      | $1586574.63   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                          | Morgan Stanley Mortgage Loan Trust, Series 2005-4, Class 1A                                            | CUSIP: 61748HJV4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       18977 | PA      | $18182.46     | 0.00%             | 2035-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: 404280CN7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |     6541000 | PA      | $6182506.76   | 0.07%             | 2030-12-17      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                                                | Ford Credit Auto Owner Trust, Series 2022-C, Class A4                                                  | CUSIP: 34535AAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      381252 | PA      | $381898.30    | 0.00%             | 2027-12-15      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| EquipmentShare.com, Inc.                                                    | EquipmentShare.com, Inc.                                                                               | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |      780000 | PA      | $833841.06    | 0.01%             | 2032-05-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                      | Merrill Lynch Mortgage Investors Trust, Series 2004-HE2, Class M1                                      | CUSIP: 59020UKZ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       29580 | PA      | $29324.59     | 0.00%             | 2035-08-25      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2007-19, Class 1A8                                                      | CUSIP: 02151AAH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      131300 | PA      | $59300.06     | 0.00%             | 2037-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Gaztransport Et Technigaz SA                                                | Gaztransport Et Technigaz SA                                                                           | CUSIP: N/A<br>LEI: 969500BVOHVZUUFWDT54       | Long             | EC               | CORP              | FR        |        9036 | NS      | $1946792.69   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Cooper-Standard Automotive, Inc.                                            | Cooper-Standard Automotive, Inc.                                                                       | CUSIP: 216762AJ3<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |     8012985 | PA      | $7879483.06   | 0.09%             | 2027-05-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: —       |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GB78<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     1805000 | PA      | $1806444.60   | 0.02%             | 2035-10-23      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                                    | Cooperatieve Rabobank UA                                                                               | CUSIP: 21684AAF3<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |      374000 | PA      | $373449.37    | 0.00%             | 2026-07-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Alliant Energy Corp.                                                        | Alliant Energy Corp.                                                                                   | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |       35036 | NS      | $2309222.76   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ballyrock CLO 17 Ltd.                                                       | Ballyrock CLO Ltd., Series 2021-17A, Class A2R                                                         | CUSIP: 05876LAQ6<br>LEI: 254900J6ILFT5YJVHO91 | Long             | ABS-CBDO         | CORP              | KY        |     1400000 | PA      | $1404732.00   | 0.02%             | 2038-10-20      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series R                                                              | CUSIP: 38144GAB7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     1809000 | PA      | $1809421.84   | 0.02%             | 2026-02-10      | Variable      | 7.56%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2019-B9, Class F                                                      | CUSIP: 08160JBC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     6590000 | PA      | $2878644.46   | 0.03%             | 2052-03-15      | Variable      | 3.74%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                          | General Motors Financial Co., Inc.                                                                     | CUSIP: 37045XBG0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |      250000 | PA      | $250258.06    | 0.00%             | 2026-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     3051000 | PA      | $3054240.16   | 0.04%             | 2029-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Sumitomo Rubber Industries Ltd.                                             | Sumitomo Rubber Industries Ltd.                                                                        | CUSIP: N/A<br>LEI: 353800JD4V72SJ3EOX37       | Long             | EC               | CORP              | JP        |       30900 | NS      | $497989.54    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-AR3, Class 6A1                                                    | CUSIP: 36242D4W0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       44545 | PA      | $32708.98     | 0.00%             | 2035-05-25      | Variable      | 4.23%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc.                                                                                  | CUSIP: 25746UDZ9<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     3945000 | PA      | $3987534.08   | 0.05%             | 2056-02-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                                  | Builders FirstSource, Inc.                                                                             | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     2983000 | PA      | $2843195.14   | 0.03%             | 2032-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Senegal                                                         | Republic of Senegal                                                                                    | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |     2600000 | PA      | $1494493.00   | 0.02%             | 2033-05-23      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                                                         | CUSIP: 09659W2W3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |      880000 | PA      | $911064.70    | 0.01%             | 2030-05-20      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                    | Lumen Technologies, Inc.                                                                               | CUSIP: 550241AA1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     3421000 | PA      | $3216199.20   | 0.04%             | 2029-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-5, Class B2                                                    | CUSIP: 92538KAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3750000 | PA      | $2921550.00   | 0.03%             | 2066-09-25      | Variable      | 3.94%                 | Yes           |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                      | Mauser Packaging Solutions Holding Co.                                                                 | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    14574000 | PA      | $14847262.50  | 0.17%             | 2030-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Group 1 Automotive, Inc.                                                    | Group 1 Automotive, Inc.                                                                               | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |     1211000 | PA      | $1184265.00   | 0.01%             | 2028-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Eaton Corp. plc                                                             | Eaton Corp. plc                                                                                        | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |        1656 | NS      | $581951.52    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Federative Republic of Brazil                                               | Federative Republic of Brazil                                                                          | CUSIP: 105756BW9<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     1230000 | PA      | $985230.00    | 0.01%             | 2045-01-27      | Fixed         | 5.00%                 | 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        |     1207561 | PA      | $1205641.34   | 0.01%             | 2031-01-27      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Mondelez International, Inc.                                                | Mondelez International, Inc., Class A                                                                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      176472 | NS      | $10318317.84  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hashemite Kingdom of Jordan                                                 | Hashemite Kingdom of Jordan                                                                            | CUSIP: 418097AL5<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |     1810000 | PA      | $1814959.40   | 0.02%             | 2030-07-07      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Accredited Mortgage Loan Trust                                              | Accredited Mortgage Loan Trust, Series 2004-4, Class M1                                                | CUSIP: 004375CG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      259387 | PA      | $254011.15    | 0.00%             | 2035-01-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| ASB Bank Ltd.                                                               | ASB Bank Ltd.                                                                                          | CUSIP: 00216LAD5<br>LEI: 549300IBZWZL1KTPF918 | Long             | DBT              | CORP              | NZ        |      262000 | PA      | $257798.41    | 0.00%             | 2026-10-22      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: —       |
| AbbVie, Inc.                                                                | AbbVie, Inc.                                                                                           | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      122602 | NS      | $27341472.02  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group, Inc.                                                         | Omnicom Group, Inc.                                                                                    | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      198555 | NS      | $15296677.20  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: 056909AA2<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |     2250000 | PA      | $2171250.00   | 0.03%             | 2037-10-06      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                                     | Molina Healthcare, Inc.                                                                                | CUSIP: 60855RAN0<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     2827000 | PA      | $2897245.30   | 0.03%             | 2031-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc.                                                                                         | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |       92119 | NS      | $4496860.38   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global LNG, Inc.                                                    | Venture Global LNG, Inc.                                                                               | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     2520000 | PA      | $2579716.82   | 0.03%             | 2028-06-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-LC21, Class D                                                   | CUSIP: 12593FBJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      450000 | PA      | $404995.50    | 0.00%             | 2048-07-10      | Variable      | 4.24%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-10, Class 2A5            | CUSIP: 93934FGD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1303734 | PA      | $1238394.88   | 0.01%             | 2035-11-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DTE Energy Co.                                                              | DTE Energy Co., Series H                                                                               | CUSIP: 233331792<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |      115600 | NS      | $2866880.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Ghana                                                           | Republic of Ghana                                                                                      | CUSIP: 374422AM5<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     1192524 | PA      | $1165585.25   | 0.01%             | 2029-07-03      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                              | JELD-WEN, Inc.                                                                                         | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     3295000 | PA      | $2895645.74   | 0.03%             | 2027-12-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| American Honda Finance Corp.                                                | American Honda Finance Corp.                                                                           | CUSIP: 02665WGE5<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |       67000 | PA      | $67348.19     | 0.00%             | 2027-07-09      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Global Medical Response, Inc.                                               | Global Medical Response, Inc., 1st Lien Term Loan                                                      | CUSIP: 00169QAH2<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | LON              | CORP              | US        |      400000 | PA      | $400924.00    | 0.00%             | 2032-10-01      | Variable      | 7.17%                 | No            |                  2 | On Loan: No      |
| AEON REIT Investment Corp.                                                  | AEON REIT Investment Corp.                                                                             | CUSIP: N/A<br>LEI: 353800P59F8MJB4FE788       | Long             | EC               | CORP              | JP        |         467 | NS      | $404187.99    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                                     | SS&C Technologies, Inc.                                                                                | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |      670000 | PA      | $691724.08    | 0.01%             | 2032-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |     4050000 | PA      | $3995811.00   | 0.05%             | 2050-05-29      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Vail Resorts, Inc.                                                          | Vail Resorts, Inc.                                                                                     | CUSIP: 91879QAP4<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |     2560000 | PA      | $2653063.68   | 0.03%             | 2032-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Madison IAQ LLC                                                             | Madison IAQ LLC                                                                                        | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |     6049000 | PA      | $6041478.67   | 0.07%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: —       |
| Cheniere Energy Partners LP                                                 | Cheniere Energy Partners LP                                                                            | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     1000000 | PA      | $973711.26    | 0.01%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Democratic Socialist Republic of Sri Lanka                                  | Democratic Socialist Republic of Sri Lanka                                                             | CUSIP: N/A<br>LEI: 254900IG6Y30I2QE2R92       | Long             | DBT              | NUSS              | LK        |     1237301 | PA      | $1207457.39   | 0.01%             | 2028-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HV5<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     5045000 | PA      | $3657625.00   | 0.04%             | 2041-07-09      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                         | Hilton Domestic Operating Co., Inc.                                                                    | CUSIP: 432833AR2<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     2550000 | PA      | $2616606.00   | 0.03%             | 2033-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| UPM-Kymmene OYJ                                                             | UPM-Kymmene OYJ                                                                                        | CUSIP: N/A<br>LEI: 213800EC6PW5VU4J9U64       | Long             | EC               | CORP              | FI        |       26365 | NS      | $727361.27    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                                             | Nordea Bank Abp                                                                                        | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |      247205 | NS      | $4769818.97   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| JetBlue Airways Corp.                                                       | JetBlue Airways Corp.                                                                                  | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4762000 | PA      | $4782795.65   | 0.06%             | 2031-09-20      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| WEC Energy Group, Inc.                                                      | WEC Energy Group, Inc.                                                                                 | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |       36497 | NS      | $4039122.99   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods, Inc.                                                              | US Foods, Inc.                                                                                         | CUSIP: 90290MAG6<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |     1140000 | PA      | $1175759.52   | 0.01%             | 2028-09-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Fremont Home Loan Trust                                                     | Fremont Home Loan Trust, Series 2004-D, Class M2                                                       | CUSIP: 35729PGD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      146838 | PA      | $138080.29    | 0.00%             | 2034-11-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 01309QAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      659000 | PA      | $660165.78    | 0.01%             | 2031-03-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2024-4, Class D                                   | CUSIP: 024945AG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      446000 | PA      | $450554.64    | 0.01%             | 2031-08-12      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                                                         | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     4121000 | PA      | $4401557.68   | 0.05%             | 2027-11-17      | Variable      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                      | Cleveland-Cliffs, Inc.                                                                                 | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      887000 | PA      | $928979.05    | 0.01%             | 2034-01-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                                            | ABN AMRO Bank NV                                                                                       | CUSIP: 00084DBA7<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |      200000 | PA      | $202771.84    | 0.00%             | 2027-09-18      | Variable      | 6.34%                 | Yes           |                  2 | On Loan: No      |
| Altice Financing SA                                                         | Altice Financing SA, 1st Lien Term Loan                                                                | CUSIP: L0178UAM8<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |      370336 | PA      | $282196.26    | 0.00%             | 2027-10-29      | Variable      | 8.67%                 | No            |                  2 | On Loan: No      |
| Axia Energia                                                                | Axia Energia                                                                                           | CUSIP: 15234VAA5<br>LEI: 254900I8KYDELP4B4Z08 | Long             | DBT              | CORP              | BR        |      900000 | PA      | $930330.00    | 0.01%             | 2035-01-11      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: —       |
| BNP Paribas SA                                                              | BNP Paribas SA                                                                                         | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    11268000 | PA      | $11967889.28  | 0.14%             | 2029-08-16      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| F&G Global Funding                                                          | F&G Global Funding                                                                                     | CUSIP: 30321L2G6<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |      160000 | PA      | $163291.91    | 0.00%             | 2027-06-10      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AT6<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |      204000 | PA      | $218535.00    | 0.00%             | 2029-01-19      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                          | Morgan Stanley Mortgage Loan Trust, Series 2004-9, Class 1A                                            | CUSIP: 61748HFT3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      254296 | PA      | $253691.08    | 0.00%             | 2034-11-25      | Variable      | 5.26%                 | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                               | Six Flags Entertainment Corp.                                                                          | CUSIP: 150190AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      355000 | PA      | $355034.08    | 0.00%             | 2027-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Rogers Communications, Inc.                                                 | Rogers Communications, Inc.                                                                            | CUSIP: 775109CH2<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |      790000 | PA      | $748603.35    | 0.01%             | 2032-03-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| PACCAR, Inc.                                                                | PACCAR, Inc.                                                                                           | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |       79208 | NS      | $9735455.28   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                                                       | NXP Semiconductors NV                                                                                  | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |       63856 | NS      | $14440395.84  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Ecuador                                                         | Republic of Ecuador                                                                                    | CUSIP: 27927WAR3<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     3378000 | PA      | $3470895.00   | 0.04%             | 2039-01-29      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2005-20, Class A7                                              | CUSIP: 126694FN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       64010 | PA      | $36916.77     | 0.00%             | 2027-12-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NGL Energy Operating LLC                                                    | NGL Energy Operating LLC                                                                               | CUSIP: 62922LAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2457000 | PA      | $2549700.15   | 0.03%             | 2029-02-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc.                                     | Citigroup Global Markets Holdings, Inc., ELN, 12.50%, 02/20/2026                                       | CUSIP: N/A<br>LEI: 82VOJDD5PTRDMVVMGV31       | Long             | SN               | CORP              | US        |       34013 | PA      | $4317568.58   | 0.05%             | 2026-02-20      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| Baker Hughes Co.                                                            | Baker Hughes Co., Class A                                                                              | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      286325 | NS      | $16045653.00  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| OCP SA                                                                      | OCP SA                                                                                                 | CUSIP: N/A<br>LEI: 213800D26TAPVTCVWG40       | Long             | DBT              | NUSS              | MA        |     1030000 | PA      | $1060673.40   | 0.01%             | 2044-04-25      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Jetblue Airways Corp.                                                       | Jetblue Airways Corp., 1st Lien Term Loan                                                              | CUSIP: G5112TAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      528313 | PA      | $505531.67    | 0.01%             | 2029-08-27      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                                   | Republic of Cote d'Ivoire                                                                              | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     1383000 | PA      | $1475661.00   | 0.02%             | 2036-04-01      | Fixed         | 8.07%                 | Yes           |                  2 | On Loan: No      |
| Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates | Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2002-AR1, Class M1 | CUSIP: 03072SDB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       29193 | PA      | $30348.93     | 0.00%             | 2032-09-25      | Floating      | 3.21%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                          | Southern Co. (The)                                                                                     | CUSIP: 842587CV7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |      250000 | PA      | $249503.93    | 0.00%             | 2026-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NetApp, Inc.                                                                | NetApp, Inc.                                                                                           | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |       31308 | NS      | $3016525.80   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckeye Partners LP                                                         | Buckeye Partners LP, 1st Lien Term Loan B-7                                                            | CUSIP: 11823LAR6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | LON              | CORP              | US        |      484929 | PA      | $486190.26    | 0.01%             | 2032-11-22      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2004-28CB, Class 2A4                                                    | CUSIP: 12667FYL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      233276 | PA      | $216741.51    | 0.00%             | 2035-01-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 08.50%, 02/20/2026                                                    | CUSIP: 61780F187<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       11798 | PA      | $4390664.61   | 0.05%             | 2026-02-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                | DaVita, Inc.                                                                                           | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     8585000 | PA      | $8260622.64   | 0.10%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Shutterfly Finance LLC                                                      | Shutterfly Finance LLC                                                                                 | CUSIP: 82568NAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1580242 | PA      | $1579673.11   | 0.02%             | 2027-10-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C31, Class C                           | CUSIP: 61766RBE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1440000 | PA      | $1336005.36   | 0.02%             | 2049-11-15      | Variable      | 4.24%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc., Series 16-A                                                                            | CUSIP: 29250NAN5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     1924000 | PA      | $1936532.94   | 0.02%             | 2077-01-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2023-28                                                                                   | CUSIP: 38381HX48<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    18098303 | PA      | $1183460.73   | 0.01%             | 2065-02-16      | Variable      | 0.86%                 | No            |                  2 | On Loan: No      |
| ILFC E-Capital Trust I                                                      | ILFC E-Capital Trust I                                                                                 | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3913000 | PA      | $3368254.45   | 0.04%             | 2065-12-21      | Floating      | 6.35%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                       | Bank of America Corp., Series TT                                                                       | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     2778000 | PA      | $2813622.29   | 0.03%             | 2027-04-27      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Sempra                                                                      | Sempra                                                                                                 | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |       45079 | NS      | $3922323.79   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Svenska Handelsbanken AB                                                    | Svenska Handelsbanken AB                                                                               | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | DBT              | CORP              | SE        |     2800000 | PA      | $2675194.28   | 0.03%             | 2031-03-01      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                         | Regal Rexnord Corp.                                                                                    | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |     1822000 | PA      | $1931807.53   | 0.02%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                                             | CUSIP: 45174HBM8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |      381152 | PA      | $326323.28    | 0.00%             | 2030-08-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     5358000 | PA      | $5305479.81   | 0.06%             | 2030-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |     1670000 | PA      | $1628400.97   | 0.02%             | 2032-04-14      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Group SA                                                             | Ardagh Group SA                                                                                        | CUSIP: 985923101<br>LEI: 6354006L1NWUUOPYX274 | Long             | EC               | CORP              | LU        |      354165 | NS      | $2781237.83   | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2015-CR22, Class D                                                   | CUSIP: 12592XAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $790000.00    | 0.01%             | 2048-03-10      | Variable      | 3.70%                 | Yes           |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                             | Republic Finance Issuance Trust, Series 2024-A, Class A                                                | CUSIP: 76041RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1546000 | PA      | $1561616.61   | 0.02%             | 2032-08-20      | Fixed         | 5.91%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 12.80%, 02/06/2026                                                    | CUSIP: 61778U568<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       52230 | PA      | $3202510.13   | 0.04%             | 2026-02-06      | Fixed         | 12.80%                | No            |                  2 | On Loan: No      |
| ACCO Brands Corp.                                                           | ACCO Brands Corp.                                                                                      | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |     5180000 | PA      | $4795993.13   | 0.06%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: —       |
| Frontier Communications Holdings LLC                                        | Frontier Communications Holdings LLC                                                                   | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1280000 | PA      | $1284494.08   | 0.01%             | 2029-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                        | Mitsubishi UFJ Financial Group, Inc.                                                                   | CUSIP: 606822BZ6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |      663000 | PA      | $652231.98    | 0.01%             | 2027-10-13      | Variable      | 1.64%                 | No            |                  2 | On Loan: No      |
| Tele2 AB                                                                    | Tele2 AB, Class B                                                                                      | CUSIP: N/A<br>LEI: 213800EKD193RVI9HL76       | Long             | EC               | CORP              | SE        |      367276 | NS      | $6757337.97   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| WBI Operating LLC                                                           | WBI Operating LLC                                                                                      | CUSIP: 92944BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2524000 | PA      | $2542930.00   | 0.03%             | 2030-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| RALI Trust                                                                  | RALI Trust, Series 2006-QS4, Class A2                                                                  | CUSIP: 749228AB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      760930 | PA      | $622595.44    | 0.01%             | 2036-04-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, STRIPS, Series 3, Class 23                                                                       | CUSIP: 38381GBR3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     5513402 | PA      | $313111.59    | 0.00%             | 2045-09-16      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Columbia Pipelines Operating Co. LLC                                        | Columbia Pipelines Operating Co. LLC                                                                   | CUSIP: 19828TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1195000 | PA      | $1266008.97   | 0.01%             | 2030-08-15      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                                    | Comstock Resources, Inc.                                                                               | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     2382000 | PA      | $2324113.35   | 0.03%             | 2030-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                                                  | Edgewell Personal Care Co.                                                                             | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |     2997000 | PA      | $2997971.03   | 0.03%             | 2028-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                           | Wells Fargo & Co.                                                                                      | CUSIP: 95000U3K7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      464000 | PA      | $481378.41    | 0.01%             | 2035-01-23      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Russian Roubles                                                             | Russian Roubles                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | RU        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co. (The)                                                           | Hershey Co. (The)                                                                                      | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |       22014 | NS      | $4287226.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Petrobras Global Finance BV                                                 | Petrobras Global Finance BV                                                                            | CUSIP: 71647NAN9<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |      300000 | PA      | $284022.00    | 0.00%             | 2115-06-05      | Fixed         | 6.85%                 | 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        |      147483 | PA      | $120383.41    | 0.00%             | 2031-12-31      | Variable      | 7.92%                 | No            |                  2 | On Loan: No      |
| Lebanese Republic                                                           | Lebanese Republic                                                                                      | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |     5340000 | PA      | $1549750.24   | 0.02%             | 2030-02-26      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                                   | OBX Trust, Series 2024-NQM4, Class A3                                                                  | CUSIP: 67118TAC8<br>LEI: 254900LSNFNEGAD7J679 | Long             | ABS-MBS          | CORP              | US        |     2910612 | PA      | $2939249.03   | 0.03%             | 2064-01-25      | Variable      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2019-B11, Class C                                                     | CUSIP: 08162BBL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    13959000 | PA      | $11119355.53  | 0.13%             | 2052-05-15      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| DOC DR LLC                                                                  | DOC DR LLC                                                                                             | CUSIP: 71951QAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        4000 | PA      | $3593.81      | 0.00%             | 2031-11-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| CoreWeave, Inc.                                                             | CoreWeave, Inc.                                                                                        | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     3416000 | PA      | $3362704.11   | 0.04%             | 2030-06-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: —       |
| CNX Resources Corp.                                                         | CNX Resources Corp.                                                                                    | CUSIP: 12653CAK4<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     2371000 | PA      | $2455602.02   | 0.03%             | 2031-01-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                       | Wells Fargo Commercial Mortgage Trust, Series 2021-SAVE, Class E                                       | CUSIP: 95003LAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1600000 | PA      | $1596795.69   | 0.02%             | 2040-02-15      | Floating      | 7.55%                 | Yes           |                  2 | On Loan: No      |
| Magellan Financial Group Ltd.                                               | Magellan Financial Group Ltd.                                                                          | CUSIP: N/A<br>LEI: 549300X5WFW6USQQ9U26       | Long             | EC               | CORP              | AU        |       55277 | NS      | $334170.66    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                                   | HCA, Inc.                                                                                              | CUSIP: 404119CU1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      600000 | PA      | $623158.69    | 0.01%             | 2034-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      817000 | PA      | $854578.12    | 0.01%             | 2038-01-19      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2017-P7, Class C                                           | CUSIP: 17325HBT0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3295000 | PA      | $2818440.20   | 0.03%             | 2050-04-14      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| BWX Technologies, Inc.                                                      | BWX Technologies, Inc.                                                                                 | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |     4624000 | PA      | $4528591.16   | 0.05%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Cathay Pacific Airways Ltd.                                                 | Cathay Pacific Airways Ltd.                                                                            | CUSIP: N/A<br>LEI: EQNZNT235RBOJ6LJQZ02       | Long             | EC               | CORP              | HK        |      191000 | NS      | $299472.03    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EOG Resources, Inc.                                                         | EOG Resources, Inc.                                                                                    | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      100457 | NS      | $11264243.41  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ATS Corp.                                                                   | ATS Corp.                                                                                              | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |     1150000 | PA      | $1122000.72   | 0.01%             | 2028-12-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Fair Isaac Corp.                                                            | Fair Isaac Corp.                                                                                       | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     1452000 | PA      | $1479493.62   | 0.02%             | 2033-05-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                                       | Gilead Sciences, Inc.                                                                                  | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |       87327 | NS      | $12396067.65  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTR Alternative Loan Trust                                                | MASTR Alternative Loan Trust, Series 2005-5, Class 3A1                                                 | CUSIP: 576434T20<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      190805 | PA      | $81543.22     | 0.00%             | 2035-08-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                               | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR14, Class 1A3                             | CUSIP: 92922F4C9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      600371 | PA      | $566984.01    | 0.01%             | 2035-12-25      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp.                                                           | Duke Energy Corp.                                                                                      | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |       35794 | NS      | $4343601.90   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Corp. (The)                                                           | Hertz Corp. (The), 1st Lien Term Loan B                                                                | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |     2678108 | PA      | $2276392.12   | 0.03%             | 2028-06-30      | Variable      | 7.29%                 | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                            | Goodyear Tire & Rubber Co. (The)                                                                       | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     2872000 | PA      | $2932214.35   | 0.03%             | 2030-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                              | DISH DBS Corp.                                                                                         | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    10816000 | PA      | $10590261.43  | 0.12%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC                                                              | 1011778 BC ULC                                                                                         | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     2750000 | PA      | $2623847.35   | 0.03%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                                    | Cooperatieve Rabobank UA                                                                               | CUSIP: 74977RDS0<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |      552000 | PA      | $567675.41    | 0.01%             | 2029-02-28      | Variable      | 5.56%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                                                   | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     4871000 | PA      | $4872524.62   | 0.06%             | 2028-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 13.00%, 02/20/2026                                                    | CUSIP: 61780F203<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |        4764 | PA      | $6835380.05   | 0.08%             | 2026-02-20      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KW09, Class X2A                                                      | CUSIP: 30298GAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   249810429 | PA      | $565995.49    | 0.01%             | 2029-05-25      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                                    | UnitedHealth Group, Inc.                                                                               | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       35178 | NS      | $10093623.54  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp.                                                      | Tenet Healthcare Corp.                                                                                 | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     5926000 | PA      | $6047536.33   | 0.07%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2005-30, Class A5                                              | CUSIP: 126694TU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100803 | PA      | $59008.45     | 0.00%             | 2036-01-25      | Fixed         | 5.50%                 | 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        |      726246 | PA      | $579442.32    | 0.01%             | 2029-07-06      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                                                         | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     4205000 | PA      | $3772080.53   | 0.04%             | 2031-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Lebanese Republic                                                           | Lebanese Republic                                                                                      | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |     7135000 | PA      | $2063599.68   | 0.02%             | 2028-11-03      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| Covivio SA                                                                  | Covivio SA                                                                                             | CUSIP: N/A<br>LEI: 969500P8M3W2XX376054       | Long             | EC               | CORP              | FR        |       27386 | NS      | $1749581.32   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Asset-Backed Securities Corp. Home Equity Loan Trust                        | Asset-Backed Securities Corp. Home Equity Loan Trust, Series 2004-HE7, Class M2                        | CUSIP: 04541GMD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       84098 | PA      | $85798.40     | 0.00%             | 2034-10-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 09.20%, 02/13/2026                                                    | CUSIP: 61778U717<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       31301 | PA      | $9631018.31   | 0.11%             | 2026-02-13      | Fixed         | 9.20%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                                              | Carnival Corp.                                                                                         | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     1750000 | PA      | $1802069.50   | 0.02%             | 2030-03-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series CC                                                                             | CUSIP: 172967PK1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     4928000 | PA      | $5100371.58   | 0.06%             | 2029-08-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Spectrum Brands, Inc.                                                       | Spectrum Brands, Inc.                                                                                  | CUSIP: 84762LAX3<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |      729000 | PA      | $588303.00    | 0.01%             | 2031-03-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Antero Resources Corp.                                                      | Antero Resources Corp.                                                                                 | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |     1432000 | PA      | $1452354.45   | 0.02%             | 2030-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Group SA                                                             | Ardagh Group SA                                                                                        | CUSIP: 039959AA9<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |     3658000 | PA      | $3952743.35   | 0.05%             | 2030-12-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: —       |
| PRET LLC                                                                    | PRET LLC, Series 2024-NPL9, Class A1                                                                   | CUSIP: 74143TAA7<br>LEI: 25490072TKR6YZ7BOH19 | Long             | ABS-MBS          | CORP              | US        |     7054204 | PA      | $7058953.94   | 0.08%             | 2054-12-25      | Variable      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| First Student Bidco, Inc.                                                   | First Student Bidco, Inc., 1st Lien Term Loan C                                                        | CUSIP: 33718FAP5<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |     1051966 | PA      | $1049073.53   | 0.01%             | 2030-08-15      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| New Century Home Equity Loan Trust                                          | New Century Home Equity Loan Trust, Series 2004-4, Class M2                                            | CUSIP: 64352VJK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        3289 | PA      | $6208.46      | 0.00%             | 2035-02-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| PM General Purchaser LLC                                                    | PM General Purchaser LLC                                                                               | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1723000 | PA      | $1573426.37   | 0.02%             | 2028-10-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                                                | CaixaBank SA                                                                                           | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |      243343 | NS      | $3212173.71   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                       | NextEra Energy Capital Holdings, Inc.                                                                  | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     1617000 | PA      | $1718106.16   | 0.02%             | 2054-06-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The), Series Y                                                              | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     5630000 | PA      | $5736251.78   | 0.07%             | 2034-11-10      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                    | COLT Mortgage Loan Trust, Series 2021-5, Class B2                                                      | CUSIP: 12598RAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2247000 | PA      | $1858359.10   | 0.02%             | 2066-11-26      | Variable      | 4.20%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Telekom AG                                                         | Deutsche Telekom AG (Registered)                                                                       | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |      154195 | NS      | $5174520.43   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2021-4, Class B1                                          | CUSIP: 24381JAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     6000000 | PA      | $4967157.60   | 0.06%             | 2066-11-25      | Variable      | 4.16%                 | Yes           |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                                      | Sonic Automotive, Inc.                                                                                 | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |     3279000 | PA      | $3161652.13   | 0.04%             | 2031-11-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| Cooper-Standard Automotive, Inc.                                            | Cooper-Standard Automotive, Inc.                                                                       | CUSIP: 216762AH7<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |    13330212 | PA      | $13748767.33  | 0.16%             | 2027-03-31      | Fixed         | 13.50%                | Yes           |                  2 | On Loan: No      |
| Credicorp Ltd.                                                              | Credicorp Ltd.                                                                                         | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | BM        |        4203 | NS      | $1499756.49   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| RFMSI Trust                                                                 | RFMSI Trust, Series 2005-S7, Class A6                                                                  | CUSIP: 76111XZW6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       37160 | PA      | $28729.69     | 0.00%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                                           | Rocket Cos., Inc.                                                                                      | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3180000 | PA      | $3255712.62   | 0.04%             | 2030-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                                            | Bombardier, Inc.                                                                                       | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     1579000 | PA      | $1657505.09   | 0.02%             | 2032-06-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 11.30%, 02/06/2026                                                    | CUSIP: 61778U501<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       19972 | PA      | $4055061.84   | 0.05%             | 2026-02-06      | Fixed         | 11.30%                | No            |                  2 | On Loan: No      |
| Republic of Angola                                                          | Republic of Angola                                                                                     | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |     2090000 | PA      | $1806874.60   | 0.02%             | 2049-11-26      | Fixed         | 9.12%                 | Yes           |                  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        |      825355 | PA      | $821616.28    | 0.01%             | 2031-07-31      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| ACE Securities Corp. Home Equity Loan Trust                                 | ACE Securities Corp. Home Equity Loan Trust, Series 2003-FM1, Class M1                                 | CUSIP: 004421BR3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      170534 | PA      | $203106.11    | 0.00%             | 2032-11-25      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Novartis AG                                                                 | Novartis AG (Registered)                                                                               | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |      129452 | NS      | $19206769.76  | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2025-3, Class C                                   | CUSIP: 02528EAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      940000 | PA      | $949574.75    | 0.01%             | 2032-07-12      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| New Hope Corp. Ltd.                                                         | New Hope Corp. Ltd.                                                                                    | CUSIP: N/A<br>LEI: 254900DHRUGXZSLSNZ83       | Long             | EC               | CORP              | AU        |      159727 | NS      | $500854.98    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K087, Class X3                        | CUSIP: 3137FKUS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    17956783 | PA      | $1054673.69   | 0.01%             | 2046-01-25      | Variable      | 2.27%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC STACR REMIC Trust, Series 2022-HQA3, Class M1A                                                   | CUSIP: 35564KE39<br>LEI: 5493000IRJ8RDHSNEL96 | Long             | ABS-MBS          | CORP              | US        |    12086364 | PA      | $12285923.61  | 0.14%             | 2042-08-25      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Moog, Inc.                                                                  | Moog, Inc.                                                                                             | CUSIP: 615394AM5<br>LEI: 549300WM2I4U7OBAHG07 | Long             | DBT              | CORP              | US        |      247000 | PA      | $245705.05    | 0.00%             | 2027-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2021-BN31, Class E                                                                        | CUSIP: 06541AAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2500000 | PA      | $1766887.25   | 0.02%             | 2054-02-15      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Citi Asset Receivables Trust I                                              | Citi Asset Receivables Trust I, Series 2025-10, Class CERT                                             | CUSIP: 17292HAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      265639 | PA      | $276099.98    | 0.00%             | 2032-01-20      | Fixed         | 24.78%                | Yes           |                  3 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205BJ2<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     1034000 | PA      | $1003755.50   | 0.01%             | 2055-12-11      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2026-2, Class AZ                                                                          | CUSIP: 38385LDD7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      550000 | PA      | $522156.25    | 0.01%             | 2056-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                                 | TELUS Corp.                                                                                            | CUSIP: 87971M103<br>LEI: 894500WE70KKZRQMBU11 | Long             | EC               | CORP              | CA        |      303435 | NS      | $4234028.57   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Altice France SA                                                            | Altice France SA                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | FR        |        3398 | NS      | $55382.52     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2006-14CB, Class A1                                                     | CUSIP: 021468AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1062052 | PA      | $554268.97    | 0.01%             | 2036-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                                    | Wynn Resorts Finance LLC                                                                               | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      880000 | PA      | $948135.76    | 0.01%             | 2031-02-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of Honduras                                                        | Republic of Honduras                                                                                   | CUSIP: N/A<br>LEI: 5493002DW1JNBNG17615       | Long             | DBT              | NUSS              | HN        |     1600000 | PA      | $1842400.00   | 0.02%             | 2034-11-27      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| 1261229 BC Ltd.                                                             | 1261229 BC Ltd.                                                                                        | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     5459000 | PA      | $5602336.91   | 0.06%             | 2032-04-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| MetLife, Inc.                                                               | MetLife, Inc., Series D                                                                                | CUSIP: 59156RBT4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |      106000 | PA      | $107835.60    | 0.00%             | 2028-03-15      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Lehman Mortgage Trust                                                       | Lehman Mortgage Trust, Series 2005-2, Class 2A5                                                        | CUSIP: 52520MBW2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      566057 | PA      | $305140.86    | 0.00%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Republic of Ecuador                                                         | Republic of Ecuador                                                                                    | CUSIP: 27927WAR3<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |      244000 | PA      | $250710.00    | 0.00%             | 2039-01-29      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley                                                                                         | CUSIP: 61747YFK6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      619000 | PA      | $635520.53    | 0.01%             | 2030-01-16      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| Barratt Redrow plc                                                          | Barratt Redrow plc                                                                                     | CUSIP: N/A<br>LEI: 2138006R85VEOF5YNK29       | Long             | EC               | CORP              | GB        |      453863 | NS      | $2416700.62   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                                     | GFL Environmental, Inc.                                                                                | CUSIP: 36168QAN4<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     2745000 | PA      | $2727331.26   | 0.03%             | 2029-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Benin Government International Bond                                         | Benin Government Bond                                                                                  | CUSIP: 08205QAC2<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |      747000 | PA      | $790086.96    | 0.01%             | 2041-01-23      | Fixed         | 8.38%                 | Yes           |                  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        |      125860 | PA      | $1258.60      | 0.00%             | 2026-12-31      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| FHLMC, Multi-Class Certificates                                             | FHLMC, Multi-Class Certificates, Series 2020-RR05, Class X                                             | CUSIP: 3137FRV24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    17110000 | PA      | $856938.95    | 0.01%             | 2029-01-27      | Fixed         | 2.01%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                                        | Republic of Colombia                                                                                   | CUSIP: 195325DQ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      230000 | PA      | $169740.00    | 0.00%             | 2049-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                              | Enbridge, Inc.                                                                                         | CUSIP: 29250NCN3<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |      405000 | PA      | $405107.04    | 0.00%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Severstal PAO                                                               | Severstal PAO                                                                                          | CUSIP: 818150302<br>LEI: 213800OKDPTV6K4ONO53 | Long             | EC               | CORP              | RU        |      131758 | NS      | $0.13         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Restaurant Brands International, Inc.                                       | Restaurant Brands International, Inc.                                                                  | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Long             | EC               | CORP              | CA        |       61573 | NS      | $4125366.13   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                                                            | McDonald's Corp.                                                                                       | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       51228 | NS      | $16136820.00  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co. Ltd.                                                | Samsung Electronics Co. Ltd. (Preference)                                                              | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |      156019 | NS      | $12637706.51  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust, Series 2018-MP, Class D                                                | CUSIP: 61691DAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      730000 | PA      | $598647.45    | 0.01%             | 2040-07-11      | Variable      | 4.28%                 | Yes           |                  2 | On Loan: No      |
| VMware LLC                                                                  | VMware LLC                                                                                             | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |      823000 | PA      | $732697.59    | 0.01%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                                    | WESCO Distribution, Inc.                                                                               | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     3055000 | PA      | $3091748.60   | 0.04%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2016-C1, Class C                                    | CUSIP: 46645LBF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5000000 | PA      | $4824533.00   | 0.06%             | 2049-03-17      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| TC Ziraat Bankasi A/S                                                       | TC Ziraat Bankasi A/S                                                                                  | CUSIP: N/A<br>LEI: 213800K5KTZFSUS8MR51       | Long             | DBT              | CORP              | TR        |     1400000 | PA      | $1484882.00   | 0.02%             | 2029-01-16      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust, Inc.                                         | Citigroup Mortgage Loan Trust, Inc., Series 2005-WF2, Class AF7                                        | CUSIP: 17307GVN5<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-O            | CORP              | US        |       17343 | PA      | $16140.28     | 0.00%             | 2035-08-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp                                                                                             | CUSIP: 91159HJD3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |      915000 | PA      | $825201.07    | 0.01%             | 2033-01-27      | Variable      | 2.68%                 | No            |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                                           | Yum! Brands, Inc.                                                                                      | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |       59000 | PA      | $59757.62     | 0.00%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AmeriGas Partners LP                                                        | AmeriGas Partners LP                                                                                   | CUSIP: 030981AM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1960000 | PA      | $2026653.72   | 0.02%             | 2028-06-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                         | Kinder Morgan, Inc.                                                                                    | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      151093 | NS      | $4606825.57   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Cos., Inc.                                                           | Rocket Cos., Inc.                                                                                      | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1693000 | PA      | $1756421.47   | 0.02%             | 2033-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                   | Vistra Operations Co. LLC                                                                              | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      866000 | PA      | $855158.98    | 0.01%             | 2029-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                                         | Sirius XM Radio LLC                                                                                    | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    11122000 | PA      | $11171793.19  | 0.13%             | 2029-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2019-R06, Class 2B1                                        | CUSIP: 20754JAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3527906 | PA      | $3584177.51   | 0.04%             | 2039-09-25      | Floating      | 7.56%                 | Yes           |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund VII LLC                                     | Bayview Opportunity Master Fund LLC, Series 2024-CAR1, Class C                                         | CUSIP: 07336QAC6<br>LEI: 254900S53K9VTUR1UX42 | Long             | ABS-O            | CORP              | US        |       92613 | PA      | $92969.16     | 0.00%             | 2031-12-26      | Floating      | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-64CB, Class 1A15                                                   | CUSIP: 12668AA21<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      675578 | PA      | $599781.67    | 0.01%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                                   | Republic of Cote d'Ivoire                                                                              | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |      820000 | PA      | $874735.00    | 0.01%             | 2033-01-30      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley, Series I                                                                               | CUSIP: 61761J406<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |       61750 | NS      | $1560422.50   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Prime Money Market Fund                                            | JPMorgan Prime Money Market Fund, Class Institutional                                                  | CUSIP: 4812A2603<br>LEI: 549300YD7H8SEEU7VG41 | Long             | STIV             | RF                | US        |   181611624 | NS      | $181684268.32 | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Plurinational State of Bolivia                                              | Plurinational State of Bolivia                                                                         | CUSIP: N/A<br>LEI: 529900TGIRPY3SZXEB56       | Long             | DBT              | NUSS              | BO        |     1700000 | PA      | $1602037.50   | 0.02%             | 2028-03-20      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| GMACM Mortgage Loan Trust                                                   | GMACM Mortgage Loan Trust, Series 2005-AR1, Class 3A                                                   | CUSIP: 76112BKN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       31755 | PA      | $28691.05     | 0.00%             | 2035-03-18      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| United States Steel Corp.                                                   | United States Steel Corp.                                                                              | CUSIP: 912909AU2<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |      211000 | PA      | $211613.80    | 0.00%             | 2029-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2005-26, Class 1A11                                            | CUSIP: 126694MV7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      909185 | PA      | $520193.54    | 0.01%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MYT Holding LLC                                                             | MYT Holding LLC, Series A                                                                              | CUSIP: 55406N202<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     2316150 | NS      | $2933790.77   | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| American Express Co.                                                        | American Express Co.                                                                                   | CUSIP: 025816DV8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |      209000 | PA      | $212277.86    | 0.00%             | 2028-07-26      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                                | Rockies Express Pipeline LLC                                                                           | CUSIP: 77340RAT4<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |     1170000 | PA      | $1152938.24   | 0.01%             | 2030-05-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Coty, Inc.                                                                  | Coty, Inc.                                                                                             | CUSIP: 222070AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      880000 | PA      | $870814.30    | 0.01%             | 2029-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Amer Sports Co.                                                             | Amer Sports Co.                                                                                        | CUSIP: 02352NAA7<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |     4350000 | PA      | $4522999.50   | 0.05%             | 2031-02-16      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 172967MS7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      972000 | PA      | $901185.61    | 0.01%             | 2031-06-03      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                  | Allison Transmission, Inc.                                                                             | CUSIP: 019736AH0<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |      777000 | PA      | $787998.44    | 0.01%             | 2033-12-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                                           | Yum! Brands, Inc.                                                                                      | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      125677 | NS      | $19542773.50  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp.                                                      | Tenet Healthcare Corp.                                                                                 | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     5139000 | PA      | $5337637.77   | 0.06%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                                | Hess Midstream Operations LP                                                                           | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1678000 | PA      | $1736736.71   | 0.02%             | 2029-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 12.90%, 02/20/2026                                                    | CUSIP: 61780F211<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       71224 | PA      | $8225467.09   | 0.10%             | 2026-02-20      | Fixed         | 12.90%                | No            |                  2 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-NP6, Class CERT                                 | CUSIP: 52607PAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       50000 | PA      | $322072.57    | 0.00%             | 2037-07-15      | Fixed         | 25.46%                | Yes           |                  3 | On Loan: No      |
| Comcast Corp.                                                               | Comcast Corp.                                                                                          | CUSIP: 20030NDM0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |      865000 | PA      | $773013.04    | 0.01%             | 2031-01-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2017-GS6, Class D                                                 | CUSIP: 36253PAK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1750000 | PA      | $1208467.40   | 0.01%             | 2050-05-10      | Fixed         | 3.24%                 | Yes           |                  2 | On Loan: No      |
| RAMP Trust                                                                  | RAMP Trust, Series 2002-RS2, Class AI5                                                                 | CUSIP: 760985JL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       95938 | PA      | $95586.80     | 0.00%             | 2032-03-25      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                    | Republic of South Africa                                                                               | CUSIP: 836205BF0<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      625000 | PA      | $663109.38    | 0.01%             | 2036-11-19      | Fixed         | 7.10%                 | Yes           |                  2 | On Loan: No      |
| Accenture plc                                                               | Accenture plc, Class A                                                                                 | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |       38729 | NS      | $10210513.56  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVA Chemicals Corp.                                                        | NOVA Chemicals Corp.                                                                                   | CUSIP: 66977WAR0<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |     5351000 | PA      | $5375999.87   | 0.06%             | 2027-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao                                                 | B3 SA - Brasil Bolsa Balcao                                                                            | CUSIP: N/A<br>LEI: 4GTK5S46E6H318LMDS44       | Long             | EC               | CORP              | BR        |     1380276 | NS      | $4243573.36   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Polish Zloty - New                                                          | Polish Zloty - New                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | PL        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp. (The)                                                        | Allstate Corp. (The), Series J                                                                         | CUSIP: 020002788<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |       66000 | NS      | $1763520.00   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| New Albertsons LP                                                           | New Albertsons LP                                                                                      | CUSIP: 01310QDB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      613000 | PA      | $652584.48    | 0.01%             | 2028-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Transocean Titan Financing Ltd.                                             | Transocean Titan Financing Ltd.                                                                        | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |      624862 | PA      | $637426.93    | 0.01%             | 2028-02-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2005-NC1, Class M3                                    | CUSIP: 61744CMM5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      263452 | PA      | $258809.72    | 0.00%             | 2035-01-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                         | Petroleos Mexicanos                                                                                    | CUSIP: 71654QBR2<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |      900000 | PA      | $732510.00    | 0.01%             | 2045-01-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Boxer Parent Co., Inc.                                                      | Boxer Parent Co., Inc., 1st Lien Term Loan                                                             | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |      719562 | PA      | $690780.00    | 0.01%             | 2031-07-30      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K108, Class X3                        | CUSIP: 3137FTBQ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    16575000 | PA      | $1998928.43   | 0.02%             | 2048-04-25      | Variable      | 3.49%                 | No            |                  2 | On Loan: No      |
| Alliant Energy Corp.                                                        | Alliant Energy Corp.                                                                                   | CUSIP: 018802AF5<br>LEI: 5493009ML300G373MZ12 | Long             | DBT              | CORP              | US        |      890000 | PA      | $883531.30    | 0.01%             | 2056-04-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                                | Rockies Express Pipeline LLC                                                                           | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |     1326000 | PA      | $1398651.54   | 0.02%             | 2033-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Fortum OYJ                                                                  | Fortum OYJ                                                                                             | CUSIP: N/A<br>LEI: 635400IUIZZIUJSAMF76       | Long             | EC               | CORP              | FI        |      120475 | NS      | $2845904.26   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| MRCD MARK Mortgage Trust                                                    | MRCD MARK Mortgage Trust, Series 2019-PARK, Class F                                                    | CUSIP: 55348UAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    10000000 | PA      | $6750000.00   | 0.08%             | 2036-12-15      | Fixed         | 2.72%                 | Yes           |                  2 | On Loan: No      |
| US Bancorp                                                                  | US Bancorp                                                                                             | CUSIP: 91159HJR2<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |      810000 | PA      | $849374.94    | 0.01%             | 2035-01-23      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |      599000 | PA      | $586621.07    | 0.01%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| Block, Inc.                                                                 | Block, Inc.                                                                                            | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     1985000 | PA      | $1973224.38   | 0.02%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                                 | Citibank NA                                                                                            | CUSIP: 17325FBJ6<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |      250000 | PA      | $251228.58    | 0.00%             | 2026-08-06      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                          | T-Mobile USA, Inc.                                                                                     | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |      965000 | PA      | $855824.09    | 0.01%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                                    | U.S. Treasury Notes                                                                                    | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    71089700 | PA      | $71480138.14  | 0.83%             | 2027-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |       16000 | PA      | $14458.88     | 0.00%             | 2032-10-21      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                       | Dominion Energy, Inc.                                                                                  | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |       71071 | NS      | $4276342.07   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Bolivarian Republic of Venezuela                                            | Bolivarian Republic of Venezuela                                                                       | CUSIP: N/A<br>LEI: 529900XM8PJTJK5OJI77       | Long             | DBT              | NUSS              | VE        |     6920000 | PA      | $3013660.00   | 0.03%             | 2026-10-21      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                                           | Xcel Energy, Inc.                                                                                      | CUSIP: 98389B878<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EP               | CORP              | US        |      113300 | NS      | $2821170.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp. International                                                 | Service Corp. International                                                                            | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      870000 | PA      | $827909.84    | 0.01%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2014-LC15, Class D                                                   | CUSIP: 12591TAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      450601 | PA      | $442710.51    | 0.01%             | 2047-04-10      | Variable      | 4.81%                 | Yes           |                  2 | On Loan: No      |
| International Consolidated Airlines Group SA                                | International Consolidated Airlines Group SA                                                           | CUSIP: N/A<br>LEI: 959800TZHQRUSH1ESL13       | Long             | EC               | CORP              | ES        |      362681 | NS      | $2083631.55   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Cardinal Health, Inc.                                                       | Cardinal Health, Inc.                                                                                  | CUSIP: 14149YBQ0<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |       62000 | PA      | $62392.90     | 0.00%             | 2026-11-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Howard Midstream Energy Partners LLC                                        | Howard Midstream Energy Partners LLC                                                                   | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3427000 | PA      | $3517472.80   | 0.04%             | 2034-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                                               | Citigroup Mortgage Loan Trust, Series 2005-9, Class 2A2                                                | CUSIP: 17307GM62<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |       57123 | PA      | $40146.29     | 0.00%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GZK3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |       15000 | PA      | $14785.13     | 0.00%             | 2028-02-24      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                      | Arab Republic of Egypt                                                                                 | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |     5950000 | PA      | $5789350.00   | 0.07%             | 2031-02-16      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CapitaLand Ascendas REIT                                                    | CapitaLand Ascendas                                                                                    | CUSIP: N/A<br>LEI: 549300ILIBAEMQZK3L20       | Long             | EC               | CORP              | SG        |      437600 | NS      | $979287.46    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                                                  | Sensata Technologies, Inc.                                                                             | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |      833000 | PA      | $780612.46    | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: —       |
| Standard Industries, Inc.                                                   | Standard Industries, Inc.                                                                              | CUSIP: 853496AD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     6645000 | PA      | $6610259.28   | 0.08%             | 2028-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Hana Financial Group, Inc.                                                  | Hana Financial Group, Inc.                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       83009 | NS      | $5767638.36   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Fastenal Co.                                                                | Fastenal Co.                                                                                           | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |       94102 | NS      | $4080262.72   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Anywhere Real Estate Group LLC                                              | Anywhere Real Estate Group LLC                                                                         | CUSIP: 75606DAV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2019000 | PA      | $2203647.65   | 0.03%             | 2030-04-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series FF                                                                             | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     3789000 | PA      | $3903154.99   | 0.05%             | 2030-02-15      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Fair Isaac Corp.                                                            | Fair Isaac Corp.                                                                                       | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     1230000 | PA      | $1209624.07   | 0.01%             | 2028-06-15      | Fixed         | 4.00%                 | Yes           |                  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        |       23207 | PA      | $23258.64     | 0.00%             | 2028-07-03      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |      335000 | PA      | $338813.31    | 0.00%             | 2029-08-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2007-16, Class A1                                              | CUSIP: 12544MAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1807003 | PA      | $723452.92    | 0.01%             | 2037-10-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FinecoBank Banca Fineco SpA                                                 | FinecoBank Banca Fineco SpA                                                                            | CUSIP: N/A<br>LEI: 549300L7YCATGO57ZE10       | Long             | EC               | CORP              | IT        |       56866 | NS      | $1507531.94   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NCR Atleos Corp.                                                            | NCR Atleos Corp.                                                                                       | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |     4514000 | PA      | $4837726.02   | 0.06%             | 2029-04-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| MRCD MARK Mortgage Trust                                                    | MRCD MARK Mortgage Trust, Series 2019-PARK, Class J                                                    | CUSIP: 55348UBA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    17000000 | PA      | $8360600.00   | 0.10%             | 2036-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Capgemini SE                                                                | Capgemini SE                                                                                           | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |       65111 | NS      | $10116833.19  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                    | Argentine Republic                                                                                     | CUSIP: 040114HW3<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     5423182 | PA      | $3983327.06   | 0.05%             | 2046-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| SCB X PCL                                                                   | SCB X PCL                                                                                              | CUSIP: N/A<br>LEI: 254900TG41KIWX7VDO42       | Long             | EC               | CORP              | TH        |     1115100 | NS      | $4802035.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Novelis, Inc.                                                               | Novelis, Inc., 1st Lien Term Loan                                                                      | CUSIP: 67000LAB8<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |      263012 | PA      | $262902.03    | 0.00%             | 2032-03-11      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group, Inc.                                                    | AthenaHealth Group, Inc.                                                                               | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |     2415000 | PA      | $2342173.26   | 0.03%             | 2030-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Entergy Corp.                                                               | Entergy Corp.                                                                                          | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |       49608 | NS      | $4756911.12   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 20 Year                                                                                     | CUSIP: 3140Q8LM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      161491 | PA      | $156137.78    | 0.00%             | 2038-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                        | Ally Financial, Inc., Series C                                                                         | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |     5049000 | PA      | $4839513.96   | 0.06%             | 2028-05-15      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Industrial & Infrastructure Fund Investment Corp.                           | Industrial & Infrastructure Fund Investment Corp.                                                      | CUSIP: N/A<br>LEI: 353800WCHFY04YKYCI19       | Long             | EC               | CORP              | JP        |         602 | NS      | $583001.73    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Moran Foods Backstop Equity                                                 | Moran Foods Backstop Equity                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        | 23005765740 | NS      | $23005.77     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                                          | Grupo Financiero Banorte SAB de CV, Class O                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |      643789 | NS      | $7257914.21   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Suzuki Motor Corp.                                                          | Suzuki Motor Corp.                                                                                     | CUSIP: N/A<br>LEI: 353800D83H0V3ZV1SV24       | Long             | EC               | CORP              | JP        |      513600 | NS      | $7002973.29   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust, Series 2019-L2, Class E                                                | CUSIP: 61768HAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2575000 | PA      | $1924293.64   | 0.02%             | 2052-03-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Lamar Media Corp.                                                           | Lamar Media Corp.                                                                                      | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      475000 | PA      | $459218.98    | 0.01%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2023-3, Class E                                   | CUSIP: 02530EAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      900000 | PA      | $940002.03    | 0.01%             | 2031-10-14      | Fixed         | 9.54%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                               | Six Flags Entertainment Corp.                                                                          | CUSIP: 150190AE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3186000 | PA      | $3059214.72   | 0.04%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA ACES, Series 2020-M37, Class X                                                                    | CUSIP: 3136BBGX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    22870400 | PA      | $762224.68    | 0.01%             | 2032-04-25      | Variable      | 0.98%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                        | GNMA, Series 2025-139, Class UZ                                                                        | CUSIP: 38381QYG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     1797914 | PA      | $1689596.77   | 0.02%             | 2065-03-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                                       | Athene Global Funding                                                                                  | CUSIP: 04685A4A6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |      212000 | PA      | $212999.90    | 0.00%             | 2026-08-27      | Fixed         | 4.86%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                   | Commercial Mortgage Trust, Series 2014-CR15, Class C                                                   | CUSIP: 12591RBF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      989000 | PA      | $952939.38    | 0.01%             | 2047-02-10      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                           | HSBC Holdings plc                                                                                      | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |      580849 | NS      | $10246713.71  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                  | JPMBB Commercial Mortgage Securities Trust, Series 2014-C26, Class D                                   | CUSIP: 46643TAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1500000 | PA      | $1342050.00   | 0.02%             | 2048-01-15      | Variable      | 3.61%                 | Yes           |                  2 | On Loan: No      |
| Truist Financial Corp.                                                      | Truist Financial Corp.                                                                                 | CUSIP: 89788MAS1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |      979000 | PA      | $1025266.32   | 0.01%             | 2035-01-24      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| CD Mortgage Trust                                                           | CD Mortgage Trust, Series 2016-CD2, Class C                                                            | CUSIP: 12515ABJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      750000 | PA      | $435954.98    | 0.01%             | 2049-11-10      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Henderson Land Development Co. Ltd.                                         | Henderson Land Development Co. Ltd.                                                                    | CUSIP: N/A<br>LEI: 529900SYQB7IVR9QGN76       | Long             | EC               | CORP              | HK        |       99000 | NS      | $393784.11    | 0.00%             |  |  |  | No            |                  2 | 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        |     4687081 | PA      | $4683565.94   | 0.05%             | 2032-02-10      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| EquipmentShare.com, Inc.                                                    | EquipmentShare.com, Inc.                                                                               | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |     1271000 | PA      | $1340650.80   | 0.02%             | 2033-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                            | NRG Energy, Inc.                                                                                       | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     6155000 | PA      | $6273102.14   | 0.07%             | 2033-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K102, Class X3                        | CUSIP: 3137FQKF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1180000 | PA      | $74052.55     | 0.00%             | 2046-12-25      | Variable      | 1.89%                 | No            |                  2 | On Loan: No      |
| Shin-Etsu Chemical Co. Ltd.                                                 | Shin-Etsu Chemical Co. Ltd.                                                                            | CUSIP: N/A<br>LEI: 353800PX8Q64N86H5W41       | Long             | EC               | CORP              | JP        |      153800 | NS      | $5057649.25   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Transnet                                                                    | Transnet                                                                                               | CUSIP: 89378TAD5<br>LEI: 378900B07CD6F01EA796 | Long             | DBT              | NUSS              | ZA        |      600000 | PA      | $633000.00    | 0.01%             | 2028-02-06      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| New Albertsons LP                                                           | New Albertsons LP                                                                                      | CUSIP: 013104AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1535000 | PA      | $1548431.25   | 0.02%             | 2026-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                                     | JPMorgan Mortgage Trust, Series 2005-A3, Class 6A6                                                     | CUSIP: 466247RM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       76372 | PA      | $76651.51     | 0.00%             | 2035-06-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                     | Hyundai Capital America                                                                                | CUSIP: 44891ABZ9<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |       37000 | PA      | $36477.94     | 0.00%             | 2026-09-17      | Fixed         | 1.65%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                         | Societe Generale SA, ELN, 14.00%, 02/06/2026                                                           | CUSIP: 83371Q562<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | SN               | CORP              | FR        |        2927 | PA      | $4292588.72   | 0.05%             | 2026-02-06      | Fixed         | 14.00%                | No            |                  2 | On Loan: No      |
| Centex Home Equity Loan Trust                                               | Centex Home Equity Loan Trust, Series 2004-C, Class M2                                                 | CUSIP: 152314KS8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      252367 | PA      | $249012.97    | 0.00%             | 2034-06-25      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                                             | Nordea Bank Abp                                                                                        | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |      756732 | NS      | $14620372.63  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities I Trust                                | Bear Stearns Asset-Backed Securities I Trust, Series 2004-AC5, Class M1                                | CUSIP: 073879GQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      174091 | PA      | $156810.28    | 0.00%             | 2034-10-25      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| Brink's Co. (The)                                                           | Brink's Co. (The)                                                                                      | CUSIP: 109696AC8<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |     1032000 | PA      | $1064673.12   | 0.01%             | 2029-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Solstice Advanced Materials, Inc.                                           | Solstice Advanced Materials, Inc.                                                                      | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |     3094000 | PA      | $3110354.88   | 0.04%             | 2033-09-30      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                                                  | Axalta Coating Systems LLC                                                                             | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |     4455000 | PA      | $4287914.78   | 0.05%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust, Series 2004-10, Class 2A                                                              | CUSIP: 45254NLL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      253213 | PA      | $239043.30    | 0.00%             | 2035-03-25      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                          | United Rentals North America, Inc.                                                                     | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     2155000 | PA      | $2054347.49   | 0.02%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |      400000 | PA      | $452500.00    | 0.01%             | 2031-06-09      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| RFMSI Trust                                                                 | RFMSI Trust, Series 2006-SA4, Class 2A1                                                                | CUSIP: 74958CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      582965 | PA      | $492398.73    | 0.01%             | 2036-11-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                       | United Mexican States                                                                                  | CUSIP: 91087BBR0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     1135000 | PA      | $1133297.50   | 0.01%             | 2038-02-09      | Fixed         | 6.12%                 | 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        |     4493829 | PA      | $2249745.79   | 0.03%             | 2028-05-17      | Variable      | 7.54%                 | No            |                  2 | On Loan: No      |
| Kimco Realty OP LLC                                                         | Kimco Realty OP LLC                                                                                    | CUSIP: 49446RAY5<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              | CORP              | US        |       10000 | PA      | $8872.83      | 0.00%             | 2031-12-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Fibercop SpA                                                                | Fibercop SpA                                                                                           | CUSIP: 683879AH3<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |      488000 | PA      | $501939.23    | 0.01%             | 2038-06-04      | Fixed         | 7.72%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada, ELN, 11.00%, 02/06/2026                                                          | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Long             | SN               | CORP              | CA        |      105312 | PA      | $20154413.21  | 0.23%             | 2026-02-06      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Continental AG                                                              | Continental AG                                                                                         | CUSIP: N/A<br>LEI: 529900A7YD9C0LLXM621       | Long             | EC               | CORP              | DE        |       27017 | NS      | $2125948.93   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sempra                                                                      | Sempra                                                                                                 | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     1453000 | PA      | $1439527.06   | 0.02%             | 2052-04-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Chart Industries, Inc.                                                      | Chart Industries, Inc.                                                                                 | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     5498000 | PA      | $5720476.57   | 0.07%             | 2030-01-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Standard Building Solutions, Inc.                                           | Standard Building Solutions, Inc.                                                                      | CUSIP: 853192AA0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     1236000 | PA      | $1234799.72   | 0.01%             | 2034-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| EURO                                                                        | EURO                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |     1219152 | OU      | $1445122.16   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| British Pound                                                               | British Pound                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |       31897 | OU      | $43645.93     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                                           | CUSIP: 225401AT5<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      500000 | PA      | $500000.00    | 0.01%             | 2027-02-02      | Variable      | 1.30%                 | Yes           |                  2 | On Loan: No      |
| Kingfisher plc                                                              | Kingfisher plc                                                                                         | CUSIP: N/A<br>LEI: 213800KBMEV7I92FY281       | Long             | EC               | CORP              | GB        |      272598 | NS      | $1256238.09   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke BAM Groep NV                                                    | Koninklijke BAM Groep NV                                                                               | CUSIP: N/A<br>LEI: 724500V38C5KTDY5BS93       | Long             | EC               | CORP              | NL        |      218440 | NS      | $2290936.02   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                        | American Tower Corp.                                                                                   | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |        5774 | NS      | $1035162.72   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                      | Mauser Packaging Solutions Holding Co., 1st Lien Term Loan                                             | CUSIP: 57763TAF0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      584268 | PA      | $569140.86    | 0.01%             | 2030-04-15      | Variable      | 7.23%                 | No            |                  2 | On Loan: No      |
| LendingClub Loan Certificate Issuer Trust                                   | LendingClub Loan Certificate Issuer Trust, Series 2022-NP3, Class CERT                                 | CUSIP: 52606XAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      125000 | PA      | $680009.35    | 0.01%             | 2037-05-15      | Fixed         | 25.22%                | Yes           |                  3 | 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        |      539454 | PA      | $505403.98    | 0.01%             | 2028-12-07      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                              | Morgan Stanley, Series Q                                                                               | CUSIP: 61762V838<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |      258000 | NS      | $6764760.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Isuzu Motors Ltd.                                                           | Isuzu Motors Ltd.                                                                                      | CUSIP: N/A<br>LEI: 529900C0QSXVCC7AR494       | Long             | EC               | CORP              | JP        |        9500 | NS      | $153043.26    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Thoughtworks, Inc.                                                          | Thoughtworks, Inc., 1st Lien Term Loan B                                                               | CUSIP: 90010LAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      143234 | PA      | $136132.12    | 0.00%             | 2028-03-24      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| JH North America Holdings, Inc.                                             | JH North America Holdings, Inc.                                                                        | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     1056000 | PA      | $1073983.68   | 0.01%             | 2031-01-31      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                                  | Australia & New Zealand Banking Group Ltd.                                                             | CUSIP: 05252ADK4<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |      262000 | PA      | $262131.00    | 0.00%             | 2026-03-18      | Floating      | 4.23%                 | Yes           |                  2 | On Loan: No      |
| Agnico Eagle Mines Ltd.                                                     | Agnico Eagle Mines Ltd.                                                                                | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |        7389 | NS      | $1404596.45   | 0.02%             |  |  |  | No            |                  1 | 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        |      725872 | PA      | $729603.33    | 0.01%             | 2031-02-03      | Variable      | 7.17%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                                         | Bank of New York Mellon Corp. (The)                                                                    | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |       22000 | PA      | $23629.01     | 0.00%             | 2033-10-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| Ford Motor Co.                                                              | Ford Motor Co.                                                                                         | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |      356362 | NS      | $4946304.56   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp.                                                           | Duke Energy Corp.                                                                                      | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     3268000 | PA      | $3419091.11   | 0.04%             | 2054-09-01      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                                             | CHL Mortgage Pass-Through Trust, Series 2006-18, Class 2A4                                             | CUSIP: 12543WAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1585798 | PA      | $803099.63    | 0.01%             | 2036-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                          | United Rentals North America, Inc.                                                                     | CUSIP: 911365BS2<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     1185000 | PA      | $1184303.17   | 0.01%             | 2033-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Sekisui House REIT, Inc.                                                    | Sekisui House REIT, Inc.                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |         844 | NS      | $495617.26    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2005-AR4, Class 3A5                                                    | CUSIP: 362341FN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      804507 | PA      | $470066.48    | 0.01%             | 2035-07-25      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | DBT              | CORP              | NL        |    12939000 | PA      | $14059273.37  | 0.16%             | 2030-05-16      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                     | GSR Mortgage Loan Trust, Series 2006-9F, Class 3A1                                                     | CUSIP: 3622X7AE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      318149 | PA      | $295628.99    | 0.00%             | 2036-10-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                                | ING Groep NV                                                                                           | CUSIP: 456837AH6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |      729000 | PA      | $729451.85    | 0.01%             | 2027-03-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                     | BNP Paribas Issuance BV, ELN, 05.90%, 02/06/2026                                                       | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |       27271 | PA      | $5204713.84   | 0.06%             | 2026-02-06      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                                       | Lockheed Martin Corp.                                                                                  | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |        7721 | NS      | $4896812.62   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecopetrol SA                                                                | Ecopetrol SA                                                                                           | CUSIP: 279158AV1<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |     1469000 | PA      | $1519460.15   | 0.02%             | 2036-01-19      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                   | Vistra Operations Co. LLC                                                                              | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     2023000 | PA      | $2125647.02   | 0.02%             | 2032-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC, 1st Lien Term Loan B-11                                                                   | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |      548382 | PA      | $548979.88    | 0.01%             | 2028-08-21      | Variable      | 8.02%                 | No            |                  2 | On Loan: No      |
| Aker Solutions ASA                                                          | Aker Solutions ASA                                                                                     | CUSIP: N/A<br>LEI: 5967007LIEEXZXG42836       | Long             | EC               | CORP              | NO        |      569093 | NS      | $2079495.60   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                        | Royal Bank of Canada, ELN, 13.00%, 02/20/2026                                                          | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Long             | SN               | CORP              | CA        |       56248 | PA      | $6613290.97   | 0.08%             | 2026-02-20      | Fixed         | 13.00%                | Yes           |                  2 | On Loan: No      |
| RB Global Holdings, Inc.                                                    | RB Global Holdings, Inc.                                                                               | CUSIP: 76774LAB3<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |      760000 | PA      | $774121.56    | 0.01%             | 2028-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                                         | Medline Borrower LP                                                                                    | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |     6790000 | PA      | $6801733.12   | 0.08%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Truist Financial Corp.                                                      | Truist Financial Corp.                                                                                 | CUSIP: 89788MAD4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |      350000 | PA      | $349170.56    | 0.00%             | 2027-03-02      | Variable      | 1.27%                 | No            |                  2 | On Loan: No      |
| Emera, Inc.                                                                 | Emera, Inc.                                                                                            | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |        2232 | NS      | $110628.78    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Ecuador                                                         | Republic of Ecuador                                                                                    | CUSIP: 27927WAR3<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     5200000 | PA      | $5343000.00   | 0.06%             | 2039-01-29      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                         | Citigroup Commercial Mortgage Trust, Series 2015-P1, Class D                                           | CUSIP: 17324DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       42998 | PA      | $42030.22     | 0.00%             | 2048-09-15      | Fixed         | 3.23%                 | Yes           |                  2 | On Loan: No      |
| ATI, Inc.                                                                   | ATI, Inc.                                                                                              | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     1240000 | PA      | $1241957.96   | 0.01%             | 2031-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Bouygues SA                                                                 | Bouygues SA                                                                                            | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |       13929 | NS      | $752915.77    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Trust, Series 2020-GC45, Class D                                                | CUSIP: 36258YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2823751 | PA      | $2270429.93   | 0.03%             | 2053-02-13      | Variable      | 2.85%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                              | 1011778 BC ULC, 1st Lien Term Loan B-5                                                                 | CUSIP: C6901LAM9<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |      376215 | PA      | $374898.25    | 0.00%             | 2030-09-20      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc., Series DD                                                                             | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     6264000 | PA      | $6558648.54   | 0.08%             | 2034-08-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Millrose Properties, Inc.                                                   | Millrose Properties, Inc.                                                                              | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1146000 | PA      | $1158925.73   | 0.01%             | 2032-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Suncor Energy, Inc.                                                         | Suncor Energy, Inc.                                                                                    | CUSIP: 867224107<br>LEI: 894500XO86FKXQGPYV71 | Long             | EC               | CORP              | CA        |      104004 | NS      | $5497130.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                                                          | Southern Co. (The), Series 21-A                                                                        | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     2065000 | PA      | $2049109.21   | 0.02%             | 2051-09-15      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Land Securities Group plc                                                   | Land Securities Group plc                                                                              | CUSIP: N/A<br>LEI: 213800V8IAVKS37D6B88       | Long             | EC               | CORP              | GB        |      265420 | NS      | $2368988.84   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I, Inc. Trust                                    | Morgan Stanley ABS Capital I, Inc. Trust, Series 2004-HE6, Class M3                                    | CUSIP: 61744CFD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      147262 | PA      | $140534.98    | 0.00%             | 2034-08-25      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Istanbul Metropolitan Municipality                                          | Istanbul Metropolitan Municipality                                                                     | CUSIP: 46522TAC2<br>LEI: 213800T1VDQSNKA2MD76 | Long             | DBT              | NUSS              | TR        |     3146000 | PA      | $3447135.12   | 0.04%             | 2028-12-06      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Kobe Steel Ltd.                                                             | Kobe Steel Ltd.                                                                                        | CUSIP: N/A<br>LEI: 549300ZDCYYUPHEE5K87       | Long             | EC               | CORP              | JP        |      141100 | NS      | $2031108.94   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA                                                         | Wells Fargo Bank NA, ELN, 09.60%, 02/27/2026                                                           | CUSIP: 95005A847<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | SN               | CORP              | US        |       70570 | PA      | $7321577.16   | 0.08%             | 2026-02-27      | Fixed         | 9.60%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                                     | American Airlines, Inc.                                                                                | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     9797658 | PA      | $9899592.83   | 0.11%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Viking Cruises Ltd.                                                         | Viking Cruises Ltd.                                                                                    | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     2907000 | PA      | $2947092.33   | 0.03%             | 2033-10-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                        | Deephaven Residential Mortgage Trust, Series 2022-1, Class B1                                          | CUSIP: 24382JAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3000000 | PA      | $2568267.90   | 0.03%             | 2067-01-25      | Variable      | 4.26%                 | Yes           |                  2 | On Loan: No      |
| EquipmentShare.com, Inc.                                                    | EquipmentShare.com, Inc.                                                                               | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |     6258000 | PA      | $6539891.61   | 0.08%             | 2028-05-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                 | Federal Republic of Nigeria                                                                            | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |     1500000 | PA      | $1602660.00   | 0.02%             | 2036-01-13      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust, Series 2021-R3, Class B2                                                   | CUSIP: 92538EAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1776000 | PA      | $1423781.90   | 0.02%             | 2064-04-25      | Variable      | 4.07%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                        | Frontier Communications Holdings LLC                                                                   | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     9638000 | PA      | $9638318.05   | 0.11%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Sanmina Corp.                                                               | Sanmina Corp., 1st Lien Term Loan B-1                                                                  | CUSIP: 80105GAP5<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | LON              | CORP              | US        |     3140594 | PA      | $3148445.14   | 0.04%             | 2032-10-27      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                        | Frontier Communications Holdings LLC                                                                   | CUSIP: 35908MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      109000 | PA      | $109955.76    | 0.00%             | 2030-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                                           | NatWest Group plc                                                                                      | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |     1651199 | NS      | $15050324.32  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Repsol SA                                                                   | Repsol SA                                                                                              | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |      110038 | NS      | $2167870.26   | 0.03%             |  |  |  | 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        |      211797 | PA      | $191526.00    | 0.00%             | 2028-05-03      | Variable      | 7.92%                 | No            |                  2 | On Loan: No      |
| Man Wah Holdings Ltd.                                                       | Man Wah Holdings Ltd.                                                                                  | CUSIP: N/A<br>LEI: 52990005BW6K71UPKX41       | Long             | EC               | CORP              | BM        |      315200 | NS      | $195502.14    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Instruments, Inc.                                                     | Texas Instruments, Inc.                                                                                | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |       18708 | NS      | $4032509.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen, Inc.                                                                | Biogen, Inc.                                                                                           | CUSIP: 09062XAN3<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |      810000 | PA      | $833745.43    | 0.01%             | 2031-01-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                         | Newell Brands, Inc.                                                                                    | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |      847000 | PA      | $854147.83    | 0.01%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                        | FREMF Mortgage Trust, Series 2019-KF62, Class B                                                        | CUSIP: 30310WAF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      489353 | PA      | $487108.45    | 0.01%             | 2026-04-25      | Floating      | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Swiss Re AG                                                                 | Swiss Re AG                                                                                            | CUSIP: N/A<br>LEI: 529900PS9YW3YY29F326       | Long             | EC               | CORP              | CH        |       13750 | NS      | $2197027.80   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                | American Credit Acceptance Receivables Trust, Series 2023-4, Class D                                   | CUSIP: 02530CAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1400000 | PA      | $1454011.86   | 0.02%             | 2030-09-12      | Fixed         | 7.65%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |       37623 | NS      | $3466206.99   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Nutresa SA                                                            | Grupo Nutresa SA                                                                                       | CUSIP: 40055CAB9<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |      900000 | PA      | $1003950.00   | 0.01%             | 2035-05-12      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     1712000 | PA      | $1714932.81   | 0.02%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Suriname Government International Bond                                      | Suriname Government International Bond                                                                 | CUSIP: 86886PAF9<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |     2625000 | PA      | $2827781.25   | 0.03%             | 2035-11-06      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                                       | Prestige Brands, Inc.                                                                                  | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |      267000 | PA      | $267101.19    | 0.00%             | 2028-01-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| SSE plc                                                                     | SSE plc                                                                                                | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |      135818 | NS      | $4514244.12   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Global Infrastructure Solutions, Inc.                                       | Global Infrastructure Solutions, Inc.                                                                  | CUSIP: 37960XAA5<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |     3005000 | PA      | $3011244.39   | 0.03%             | 2029-06-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkiye (The)                                                   | Republic of Turkiye (The)                                                                              | CUSIP: 900123CM0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      620000 | PA      | $498170.00    | 0.01%             | 2047-05-11      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings plc                                                    | Rolls-Royce Holdings plc                                                                               | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |      268157 | NS      | $4482774.30   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp.                                                      | ON Semiconductor Corp.                                                                                 | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |     4166000 | PA      | $4081802.22   | 0.05%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                      | Banc of America Alternative Loan Trust, Series 2006-5, Class CB7                                       | CUSIP: 05950BAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      179644 | PA      | $157721.28    | 0.00%             | 2046-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Organon & Co.                                                               | Organon & Co.                                                                                          | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     5971000 | PA      | $5422581.56   | 0.06%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Fidelity National Information Services, Inc.                                | Fidelity National Information Services, Inc.                                                           | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      413077 | NS      | $22822504.25  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage, Inc.                                                   | Extra Space Storage, Inc.                                                                              | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       28309 | NS      | $3905792.73   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgery Center Holdings, Inc.                                               | Surgery Center Holdings, Inc., 1st Lien Term Loan                                                      | CUSIP: 86880NBD4<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |      488105 | PA      | $488456.74    | 0.01%             | 2030-12-19      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC                                                              | 1011778 BC ULC                                                                                         | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     1920000 | PA      | $1891356.48   | 0.02%             | 2028-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Credit Risk, Series 2022-MN5, Class B1                                  | CUSIP: 35563LAA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     8302000 | PA      | $9446287.91   | 0.11%             | 2042-11-25      | Floating      | 13.20%                | Yes           |                  2 | On Loan: No      |
| Bear Stearns ALT-A Trust                                                    | Bear Stearns ALT-A Trust, Series 2006-8, Class 3A1                                                     | CUSIP: 07387QAX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       86400 | PA      | $81994.39     | 0.00%             | 2034-02-25      | Floating      | 4.11%                 | No            |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                           | Credit Acceptance Auto Loan Trust, Series 2022-3A, Class D                                             | CUSIP: 22534QAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $1011410.80   | 0.01%             | 2033-04-18      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                        | BANK, Series 2020-BN26, Class D                                                                        | CUSIP: 06540JAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1350000 | PA      | $999202.64    | 0.01%             | 2063-03-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing III LLC                                             | Hertz Vehicle Financing LLC, Series 2023-3A, Class A                                                   | CUSIP: 42806MCA5<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |      420000 | PA      | $426061.15    | 0.00%             | 2028-02-25      | Fixed         | 5.94%                 | Yes           |                  2 | On Loan: No      |
| Diamond Foreign Asset Co.                                                   | Diamond Foreign Asset Co.                                                                              | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     2452000 | PA      | $2607285.16   | 0.03%             | 2030-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                                          | Credit Agricole SA                                                                                     | CUSIP: 22535WAN7<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |      620000 | PA      | $651858.37    | 0.01%             | 2036-01-09      | Variable      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| Colossus Acquireco LLC                                                      | Colossus Acquireco LLC, 1st Lien Term Loan                                                             | CUSIP: 19682LAB4<br>LEI: 2549009FT92RXWA46910 | Long             | LON              | CORP              | US        |      642749 | PA      | $640068.74    | 0.01%             | 2032-07-30      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| Oak Street Investment Grade Net Lease Fund                                  | Oak Street Investment Grade Net Lease Fund, Series 2021-1A, Class A3                                   | CUSIP: 67190AAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2478125 | PA      | $1632035.88   | 0.02%             | 2051-01-20      | Fixed         | 2.80%                 | Yes           |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                                         | Starwood Mortgage Residential Trust, Series 2020-1, Class B1                                           | CUSIP: 85573AAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5410000 | PA      | $4737360.09   | 0.05%             | 2050-02-25      | Variable      | 3.73%                 | Yes           |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                                         | Lithia Motors, Inc.                                                                                    | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     1524000 | PA      | $1466949.06   | 0.02%             | 2031-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| DNB Bank ASA                                                                | DNB Bank ASA                                                                                           | CUSIP: N/A<br>LEI: 549300GKFG0RYRRQ1414       | Long             | EC               | CORP              | NO        |       68193 | NS      | $1955322.66   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                             | TransDigm, Inc.                                                                                        | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     2982000 | PA      | $3083307.49   | 0.04%             | 2032-03-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                                          | Canadian Imperial Bank of Commerce                                                                     | CUSIP: 13608JAA5<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |     1257000 | PA      | $1300518.94   | 0.02%             | 2029-04-08      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                             | Citigroup, Inc.                                                                                        | CUSIP: 17327CAQ6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      850000 | PA      | $778293.76    | 0.01%             | 2033-01-25      | Variable      | 3.06%                 | No            |                  2 | On Loan: No      |
| Altafiber Virginia LLC                                                      | Altafiber Virginia LLC, 1st Lien Term Loan B-5                                                         | CUSIP: 17187MAU4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      337398 | PA      | $336132.74    | 0.00%             | 2028-11-23      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                                     | GFL Environmental, Inc.                                                                                | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     4377000 | PA      | $4578915.78   | 0.05%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                         | New Residential Mortgage Loan Trust, Series 2025-NQM5, Class A1                                        | CUSIP: 64832GAC8<br>LEI: 213800USJ6KQFZEWGZ76 | Long             | ABS-MBS          | CORP              | US        |     2871733 | PA      | $2892410.44   | 0.03%             | 2065-08-25      | Variable      | 5.11%                 | Yes           |                  2 | On Loan: No      |
| Technogym SpA                                                               | Technogym SpA                                                                                          | CUSIP: N/A<br>LEI: 815600B9149F66E77F76       | Long             | EC               | CORP              | IT        |      112164 | NS      | $2342311.86   | 0.03%             |  |  |  | Yes           |                  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        |      267889 | PA      | $268307.16    | 0.00%             | 2030-12-06      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                       | FHLMC, Multi-Family Structured Pass-Through Certificates, Series K089, Class X3                        | CUSIP: 3137FL6S8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    22283000 | PA      | $1431529.00   | 0.02%             | 2046-01-25      | Variable      | 2.30%                 | No            |                  2 | On Loan: No      |
| Brink's Co. (The)                                                           | Brink's Co. (The)                                                                                      | CUSIP: 109696AA2<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |     3785000 | PA      | $3784640.80   | 0.04%             | 2027-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                         | Connecticut Avenue Securities Trust, Series 2020-R01, Class 1B1                                        | CUSIP: 20754CAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $1019326.20   | 0.01%             | 2040-01-25      | Floating      | 7.06%                 | Yes           |                  2 | On Loan: No      |
| AbbVie, Inc.                                                                | AbbVie, Inc.                                                                                           | CUSIP: 00287YDZ9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |      985000 | PA      | $1013855.22   | 0.01%             | 2030-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Hashemite Kingdom of Jordan                                                 | Hashemite Kingdom of Jordan                                                                            | CUSIP: N/A<br>LEI: 5493000JZ4MYPVMBVN50       | Long             | DBT              | NUSS              | JO        |      900000 | PA      | $938250.00    | 0.01%             | 2028-01-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of Montreal                                                            | Bank of Montreal                                                                                       | CUSIP: 06368LWU6<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |       23000 | PA      | $23967.05     | 0.00%             | 2028-09-25      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Klepierre SA                                                                | Klepierre SA                                                                                           | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |      138927 | NS      | $5351941.91   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                                      | Alternative Loan Trust, Series 2005-J14, Class A7                                                      | CUSIP: 12668AQ65<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1006495 | PA      | $589632.86    | 0.01%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Equitable Financial Life Global Funding                                     | Equitable Financial Life Global Funding                                                                | CUSIP: 29449WAR8<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |      132000 | PA      | $134122.86    | 0.00%             | 2027-11-19      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                              | NCL Corp. Ltd.                                                                                         | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     2352000 | PA      | $2358437.87   | 0.03%             | 2031-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Pernod Ricard SA                                                            | Pernod Ricard SA                                                                                       | CUSIP: N/A<br>LEI: 52990097YFPX9J0H5D87       | Long             | EC               | CORP              | FR        |       17422 | NS      | $1557817.75   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Jazz Financing Lux SARL                                                     | Jazz Financing Lux SARL, 1st Lien Term Loan B-2                                                        | CUSIP: G5080AAJ1<br>LEI: 635400WUEO2NSG5OIU34 | Long             | LON              | CORP              | LU        |      356232 | PA      | $357072.88    | 0.00%             | 2028-05-05      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Bombardier, Inc.                                                            | Bombardier, Inc.                                                                                       | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     1106000 | PA      | $1161733.55   | 0.01%             | 2033-06-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Saudi Arabian Ryal                                                          | Saudi Arabian Ryal                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SA        |           0 | OU      | $0.01         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mallinckrodt plc                                                            | Mallinckrodt plc                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |  1799504616 | NS      | $1799.50      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Caesars Entertainment, Inc.                                                 | Caesars Entertainment, Inc.                                                                            | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     3385000 | PA      | $3495418.70   | 0.04%             | 2030-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                             | Goldman Sachs Group, Inc. (The)                                                                        | CUSIP: 38141GB37<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      149000 | PA      | $152251.66    | 0.00%             | 2035-07-23      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                    | Benchmark Mortgage Trust, Series 2026-V20, Class XA                                                    | CUSIP: 08164KAX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    13000000 | PA      | $700849.50    | 0.01%             | 2059-02-15      | Variable      | 2.00%                 | No            |                  3 | On Loan: No      |
| Cheniere Energy Partners LP                                                 | Cheniere Energy Partners LP                                                                            | CUSIP: 16411QAN1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |      497000 | PA      | $458676.49    | 0.01%             | 2032-01-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ASR Nederland NV                                                            | ASR Nederland NV                                                                                       | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |       24582 | NS      | $1785407.98   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Petroleos de Venezuela SA                                                   | Petroleos de Venezuela SA                                                                              | CUSIP: N/A<br>LEI: 549300YWR8TN1OFD4P06       | Long             | DBT              | NUSS              | VE        |     4450000 | PA      | $1331484.50   | 0.02%             | 2037-04-12      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust            | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2006-5, Class 2CB5            | CUSIP: 93934NAU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      124526 | PA      | $92385.54     | 0.00%             | 2036-07-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                                                | Samsung Electronics Co. Ltd.                                                                           | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |      207061 | NS      | $22875018.27  | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418EB90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       46141 | PA      | $39428.53     | 0.00%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UKG, Inc.                                                                   | UKG, Inc., 1st Lien Term Loan                                                                          | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |      835180 | PA      | $813256.90    | 0.01%             | 2031-02-10      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Home Equity Mortgage Loan Asset-Backed Trust                                | Home Equity Mortgage Loan Asset-Backed Trust, Series 2004-C, Class M2                                  | CUSIP: 456606FV9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      636042 | PA      | $572719.10    | 0.01%             | 2035-03-25      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                                                       | Saudi Arabian Oil Co.                                                                                  | CUSIP: 80414PB47<br>LEI: 5586006WD91QHB7J4X50 | Long             | STIV             | CORP              | SA        |      500000 | PA      | $499742.75    | 0.01%             | 2026-02-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LD Celulose International GmbH                                              | LD Celulose International GmbH                                                                         | CUSIP: 50206BAA0<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |     1000000 | PA      | $1052380.00   | 0.01%             | 2032-01-26      | Fixed         | 7.95%                 | Yes           |                  2 | On Loan: No      |
| Beazley plc                                                                 | Beazley plc                                                                                            | CUSIP: N/A<br>LEI: 213800VTOMUWD41GIT12       | Long             | EC               | CORP              | GB        |       96707 | NS      | $1502395.71   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418EHK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       77195 | PA      | $75936.13     | 0.00%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Banco Comercial Portugues SA                                                | Banco Comercial Portugues SA, Class R                                                                  | CUSIP: N/A<br>LEI: JU1U6S0DG9YLT7N8ZV32       | Long             | EC               | CORP              | PT        |     1439598 | NS      | $1558226.62   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                                         | Buckeye Partners LP                                                                                    | CUSIP: 118230AQ4<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |      230000 | PA      | $228361.43    | 0.00%             | 2026-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Smurfit WestRock plc                                                        | Smurfit WestRock plc                                                                                   | CUSIP: N/A<br>LEI: 635400EGSEOPDW2EXS14       | Long             | EC               | CORP              | IE        |       22959 | NS      | $955783.17    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                                                 | Goldman Sachs International, ELN, 13.90%, 02/06/2026                                                   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | Long             | SN               | CORP              | GB        |       38100 | PA      | $4279786.28   | 0.05%             | 2026-02-06      | Fixed         | 13.90%                | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                   | Ford Motor Credit Co. LLC                                                                              | CUSIP: 345397A45<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     4668000 | PA      | $4665476.15   | 0.05%             | 2027-01-09      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                                 | Acadia Healthcare Co., Inc.                                                                            | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |      653000 | PA      | $645030.00    | 0.01%             | 2033-03-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: —       |
| Aviva plc                                                                   | Aviva plc                                                                                              | CUSIP: N/A<br>LEI: YF0Y5B0IB8SM0ZFG9G81       | Long             | EC               | CORP              | GB        |      221702 | NS      | $1932765.43   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| VoltaGrid LLC                                                               | VoltaGrid LLC                                                                                          | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |     2811000 | PA      | $2847012.70   | 0.03%             | 2030-11-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Origin Energy Ltd.                                                          | Origin Energy Ltd.                                                                                     | CUSIP: N/A<br>LEI: ZSN2LWNPYW6ISMRUC664       | Long             | EC               | CORP              | AU        |       28860 | NS      | $236689.80    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kodiak Gas Services LLC                                                     | Kodiak Gas Services LLC                                                                                | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     1389000 | PA      | $1422729.09   | 0.02%             | 2033-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Indy US Holdco LLC                                                          | Indy US Holdco LLC, 1st Lien Term Loan                                                                 | CUSIP: 45674PAS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      371663 | PA      | $368410.65    | 0.00%             | 2030-10-31      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Mitie Group plc                                                             | Mitie Group plc                                                                                        | CUSIP: N/A<br>LEI: 213800MTCLTKEHWZMJ03       | Long             | EC               | CORP              | GB        |     1015478 | NS      | $2328851.14   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mallinckrodt plc                                                            | Mallinckrodt plc                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       66036 | NS      | $6945369.32   | 0.08%             |  |  |  | No            |                  3 | On Loan: No      |
| DT Auto Owner Trust                                                         | DT Auto Owner Trust, Series 2022-3A, Class E                                                           | CUSIP: 23345RAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $1046690.40   | 0.01%             | 2029-07-16      | Fixed         | 10.99%                | Yes           |                  2 | On Loan: No      |
| JPMCC Commercial Mortgage Securities Trust                                  | JPMCC Commercial Mortgage Securities Trust, Series 2017-JP5, Class D                                   | CUSIP: 46647TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     7577000 | PA      | $6314172.48   | 0.07%             | 2050-03-15      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                        | Charter Communications Operating LLC, 1st Lien Term Loan B-5                                           | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |      844497 | PA      | $843061.84    | 0.01%             | 2031-12-15      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 17888HAC7<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     1652000 | PA      | $1747198.15   | 0.02%             | 2030-11-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| PCCW Ltd.                                                                   | PCCW Ltd.                                                                                              | CUSIP: N/A<br>LEI: 254900SI7GPUPA1TJX39       | Long             | EC               | CORP              | HK        |      401000 | NS      | $299685.74    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PMT Loan Trust                                                              | PMT Loan Trust, Series 2025-INV6, Class A2                                                             | CUSIP: 69382MAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      175139 | PA      | $178276.69    | 0.00%             | 2056-06-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                                          | Kingdom of Bahrain                                                                                     | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |     1590000 | PA      | $1580054.55   | 0.02%             | 2047-09-20      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| SM Energy Co.                                                               | SM Energy Co.                                                                                          | CUSIP: 17888HAA1<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     3494000 | PA      | $3596367.21   | 0.04%             | 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        |     1605000 | PA      | $1597181.48   | 0.02%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                      | Santander Drive Auto Receivables Trust, Series 2025-3, Class D                                         | CUSIP: 80288JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      950000 | PA      | $960007.97    | 0.01%             | 2031-09-15      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                                       | Albertsons Cos., Inc.                                                                                  | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3141000 | PA      | $3141929.74   | 0.04%             | 2028-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Ukraine                                                                     | Ukraine Government Bond                                                                                | CUSIP: N/A<br>LEI: 6354001WLTJXOMEXPY07       | Long             | DBT              | NUSS              | UA        |     3385000 | PA      | $2054695.00   | 0.02%             | 2036-02-01      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| New Zealand Dollar                                                          | New Zealand Dollar                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | NZ        |          -0 | OU      | $-0.01        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Lendmark Funding Trust                                                      | Lendmark Funding Trust, Series 2025-3A, Class D                                                        | CUSIP: 525951AD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      515000 | PA      | $515818.90    | 0.01%             | 2035-05-21      | Fixed         | 5.64%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                                                  | Morgan Stanley Finance LLC, ELN, 12.40%, 02/27/2026                                                    | CUSIP: 61780F344<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |       40443 | PA      | $4056529.68   | 0.05%             | 2026-02-27      | Fixed         | 12.40%                | No            |                  2 | On Loan: No      |
| Garda World Security Corp.                                                  | Garda World Security Corp.                                                                             | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     1332000 | PA      | $1367519.11   | 0.02%             | 2032-11-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| PMT Loan Trust                                                              | PMT Loan Trust, Series 2025-J1, Class A1                                                               | CUSIP: 729910AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1168845 | PA      | $1186863.80   | 0.01%             | 2055-04-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                | Royal Caribbean Cruises Ltd.                                                                           | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     4021000 | PA      | $4144887.69   | 0.05%             | 2033-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| WFRBS Commercial Mortgage Trust                                             | WFRBS Commercial Mortgage Trust, Series 2014-C22, Class D                                              | CUSIP: 92890KAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5505000 | PA      | $2074339.05   | 0.02%             | 2057-09-15      | Variable      | 3.78%                 | Yes           |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                                | Hess Midstream Operations LP                                                                           | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2578000 | PA      | $2518197.62   | 0.03%             | 2030-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                         | Iron Mountain, Inc.                                                                                    | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |      344000 | PA      | $347608.90    | 0.00%             | 2033-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Itoham Yonekyu Holdings, Inc.                                               | Itoham Yonekyu Holdings, Inc.                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        3600 | NS      | $140153.02    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Best Buy Co., Inc.                                                          | Best Buy Co., Inc.                                                                                     | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |       59839 | NS      | $3895518.90   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                        | FNMA UMBS, 30 Year                                                                                     | CUSIP: 31418EBS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       15228 | PA      | $13007.91     | 0.00%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Hillenbrand, Inc.                                                           | Hillenbrand, Inc.                                                                                      | CUSIP: 431571AF5<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |      769000 | PA      | $776433.15    | 0.01%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Amcor plc                                                                   | Amcor plc                                                                                              | CUSIP: N/A<br>LEI: 549300GSODGFCDQ3DI89       | Long             | EC               | CORP              | JE        |       20915 | NS      | $925488.75    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Corp.                                                                 | Gates Corp.                                                                                            | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |      873000 | PA      | $907512.31    | 0.01%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** JPMorgan Trust I

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer