# EDGAR Filing Document

**Accession Number:** 0001659326
**File Stem:** 0002071691-25-007775
**Filing Date:** 2025-11
**Character Count:** 122074
**Document Hash:** ad9cfc44eaae5fcd72b93d064ad2e600
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-007775.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0002071691-25-007775

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMORGAN TRUST IV
- **CENTRAL INDEX KEY:** 0001659326

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23117
- **FILM NUMBER:** 251528375

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JPMorgan Trust IV
- **DATE OF NAME CHANGE:** 20151124

## Series and Classes Contracts Data

### JPMorgan Preferred and Income Securities Fund (Series ID: S000075349)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234320 | Class R6     | JPDRX           |
| C000234321 | Class A      | JPDAX           |
| C000234322 | Class I      | JPDIX           |
| C000237453 | Class C      | JPDCX           |

## Nport-Ex

**JPMorgan Preferred and Income Securities Fund**

**Schedule of Portfolio Investments as of September 30, 2025**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED MUTUAL FUNDS HOLDINGS" LIST ("the <br> List") IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS <br> NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR <br> SALES LITERATURE WITH THE GENERAL PUBLIC. The list is <br> submitted for the general information of the shareholders of the Fund. <br> It is not authorized for distribution to prospective investors in the Fund <br> unless preceded or accompanied by a prospectus. The list has been <br> created from the books and records of the Fund. Holdings are <br> available 60 days after the fund's fiscal quarter, using a trade date <br> accounting convention, by contacting the appropriate service center. <br> The list is subject to change without notice. The list is for <br> informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2025. |

---

------

**JPMorgan Preferred and Income Securities Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE** <br>**($000)**<br>|
| **Corporate Bonds — 83.6%** | **Corporate Bonds — 83.6%** | **Corporate Bonds — 83.6%** |
| **Banks — 46.2%** | **Banks — 46.2%** | **Banks — 46.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA (Spain) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.10%), 9.38%, <br> 3/19/2029 (a) (b) (c) (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23740 | &nbsp;&nbsp;&nbsp;&nbsp; 26489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Santander SA (Spain) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.30%), 9.63%, <br> 5/21/2033 (a) (b) (c) (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 33000 | &nbsp;&nbsp;&nbsp;&nbsp; 39799 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp.  | &nbsp;&nbsp;&nbsp; Bank of America Corp.  | &nbsp;&nbsp;&nbsp; Bank of America Corp.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series RR, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.76%), 4.38%, 1/27/2027 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7709 | &nbsp;&nbsp;&nbsp;&nbsp; 7583 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4879 | &nbsp;&nbsp;&nbsp;&nbsp; 4934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series FF, (3-MONTH CME TERM SOFR + 3.19%), 5.88%, 3/15/2028 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6746 | &nbsp;&nbsp;&nbsp;&nbsp; 6815 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 30615 | &nbsp;&nbsp;&nbsp;&nbsp; 31855 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 16275 | &nbsp;&nbsp;&nbsp;&nbsp; 16483 |
| &nbsp;&nbsp;&nbsp; Bank of Montreal (Canada) | &nbsp;&nbsp;&nbsp; Bank of Montreal (Canada) | &nbsp;&nbsp;&nbsp; Bank of Montreal (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.45%), 7.70%, 5/26/2084 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4650 | &nbsp;&nbsp;&nbsp;&nbsp; 4928 |
| &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 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8355 | &nbsp;&nbsp;&nbsp;&nbsp; 8866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) (Canada) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.39%), 8.63%, <br> 10/27/2082 (a) (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12200 | &nbsp;&nbsp;&nbsp;&nbsp; 12964 |
| &nbsp;&nbsp;&nbsp; Barclays plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Barclays plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Barclays plc (United Kingdom) |
| &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 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8464 | &nbsp;&nbsp;&nbsp;&nbsp; 8960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD SOFR ICE Swap Rate 5 Year + 5.78%), 9.63%, 12/15/2029 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 13685 | &nbsp;&nbsp;&nbsp;&nbsp; 15536 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA (France) | &nbsp;&nbsp;&nbsp; BNP Paribas SA (France) | &nbsp;&nbsp;&nbsp; BNP Paribas SA (France) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.97%), 9.25%, 11/17/2027 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 14145 | &nbsp;&nbsp;&nbsp;&nbsp; 15197 |
| &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 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 31113 | &nbsp;&nbsp;&nbsp;&nbsp; 32945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.54%), 7.38%, 9/10/2034 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 5229 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc.  | &nbsp;&nbsp;&nbsp; Citigroup, Inc.  | &nbsp;&nbsp;&nbsp; Citigroup, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Z, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.21%), 7.38%, 5/15/2028 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 5210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series AA, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.21%), 7.63%, 11/15/2028 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 11548 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3950 | &nbsp;&nbsp;&nbsp;&nbsp; 4010 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7268 | &nbsp;&nbsp;&nbsp;&nbsp; 7464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series GG, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.89%), 6.87%, 8/15/2030 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 13555 | &nbsp;&nbsp;&nbsp;&nbsp; 13969 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 25847 | &nbsp;&nbsp;&nbsp;&nbsp; 27453 |
| &nbsp;&nbsp;&nbsp; Commerzbank AG (Germany) (USD SOFR ICE Swap Rate 5 Year + 4.32%), 7.50%, 10/9/2030 (a) (b) (c) (d) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 6200 | &nbsp;&nbsp;&nbsp;&nbsp; 6509 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA (France) (USD SOFR ICE Swap Rate 5 Year + 3.60%), 6.70%, 9/23/2034 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 18240 | &nbsp;&nbsp;&nbsp;&nbsp; 18311 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp  | &nbsp;&nbsp;&nbsp; Fifth Third Bancorp  | &nbsp;&nbsp;&nbsp; Fifth Third Bancorp  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, (3-MONTH CME TERM SOFR + 3.29%), 7.30%, 10/30/2025 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6008 | &nbsp;&nbsp;&nbsp;&nbsp; 5990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series J, (3-MONTH CME TERM SOFR + 3.39%), 7.39%, 10/30/2025 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2925 | &nbsp;&nbsp;&nbsp;&nbsp; 2929 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc (United Kingdom) | &nbsp;&nbsp;&nbsp; HSBC Holdings plc (United Kingdom) | &nbsp;&nbsp;&nbsp; HSBC Holdings plc (United Kingdom) |
| &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 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 12721 | &nbsp;&nbsp;&nbsp;&nbsp; 13476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD ICE Swap Rate 5 Year + 3.61%), 6.50%, 3/23/2028 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.99%), 7.05%, 6/5/2030 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2685 | &nbsp;&nbsp;&nbsp;&nbsp; 2795 |
| &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 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 16422 | &nbsp;&nbsp;&nbsp;&nbsp; 15517 |
| &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 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10220 | &nbsp;&nbsp;&nbsp;&nbsp; 10740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. Series F, (US Treasury Yield Curve Rate T Note Constant Maturity 10 Year + 4.95%), 5.63%, <br> 7/15/2030 (b) (c) (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6214 | &nbsp;&nbsp;&nbsp;&nbsp; 6282 |
| &nbsp;&nbsp;&nbsp; ING Groep NV (Netherlands) | &nbsp;&nbsp;&nbsp; ING Groep NV (Netherlands) | &nbsp;&nbsp;&nbsp; ING Groep NV (Netherlands) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.34%), 5.75%, 11/16/2026 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 18150 | &nbsp;&nbsp;&nbsp;&nbsp; 18179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD SOFR ICE Swap Rate 5 Year + 4.36%), 8.00%, 5/16/2030 (a) (b) (c) (d) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 8250 | &nbsp;&nbsp;&nbsp;&nbsp; 8946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (USD SOFR ICE Swap Rate 5 Year + 4.08%), 7.25%, 11/16/2034 (a) (b) (c) (d) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 5200 | &nbsp;&nbsp;&nbsp;&nbsp; 5506 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA (Italy) 7.80%, 11/28/2053 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 10865 | &nbsp;&nbsp;&nbsp;&nbsp; 13424 |

---

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**JPMorgan Preferred and Income Securities Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Banks — continued** | **Banks — continued** | **Banks — continued** |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc (United Kingdom) |
| &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 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9530 | &nbsp;&nbsp;&nbsp;&nbsp; 9631 |
| &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 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8480 | &nbsp;&nbsp;&nbsp;&nbsp; 8679 |
| &nbsp;&nbsp;&nbsp; NatWest Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp; NatWest Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp; NatWest Group plc (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.63%), 6.00%, 12/29/2025 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7986 | &nbsp;&nbsp;&nbsp;&nbsp; 7995 |
| &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 (a) (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 16075 | &nbsp;&nbsp;&nbsp;&nbsp; 18097 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp (Finland) | &nbsp;&nbsp;&nbsp; Nordea Bank Abp (Finland) | &nbsp;&nbsp;&nbsp; Nordea Bank Abp (Finland) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.11%), 6.63%, 3/26/2026 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 8700 | &nbsp;&nbsp;&nbsp;&nbsp; 8745 |
| &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 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 2580 | &nbsp;&nbsp;&nbsp;&nbsp; 2607 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The)  | &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 29568 | &nbsp;&nbsp;&nbsp;&nbsp; 28658 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 12873 | &nbsp;&nbsp;&nbsp;&nbsp; 13209 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada (Canada) | &nbsp;&nbsp;&nbsp; Royal Bank of Canada (Canada) | &nbsp;&nbsp;&nbsp; Royal Bank of Canada (Canada) |
| &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 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4520 | &nbsp;&nbsp;&nbsp;&nbsp; 4763 |
| &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 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 17625 | &nbsp;&nbsp;&nbsp;&nbsp; 18180 |
| &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 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8135 | &nbsp;&nbsp;&nbsp;&nbsp; 8056 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA (France) | &nbsp;&nbsp;&nbsp; Societe Generale SA (France) | &nbsp;&nbsp;&nbsp; Societe Generale SA (France) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.39%), 9.38%, 11/22/2027 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 14265 | &nbsp;&nbsp;&nbsp;&nbsp; 15296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.45%), 10.00%, 11/14/2028 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 7770 | &nbsp;&nbsp;&nbsp;&nbsp; 8607 |
| &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 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 7435 | &nbsp;&nbsp;&nbsp;&nbsp; 7788 |
| &nbsp;&nbsp;&nbsp; Standard Chartered plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Standard Chartered plc (United Kingdom) | &nbsp;&nbsp;&nbsp; Standard Chartered plc (United Kingdom) |
| &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 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 8610 | &nbsp;&nbsp;&nbsp;&nbsp; 8926 |
| &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 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 5500 | &nbsp;&nbsp;&nbsp;&nbsp; 5887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.81%), 4.75%, 1/14/2031 (a) (b) (c) (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 9435 | &nbsp;&nbsp;&nbsp;&nbsp; 8858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. (Japan) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.28%), <br> 6.60%, 6/5/2034 (a) (b) (c) (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9496 | &nbsp;&nbsp;&nbsp;&nbsp; 9901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB (Sweden) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.05%), 4.75%, <br> 3/1/2031 (a) (b) (c) (d) (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6200 | &nbsp;&nbsp;&nbsp;&nbsp; 5901 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) (Canada) | &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) (Canada) | &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) (Canada) |
| &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 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 15305 | &nbsp;&nbsp;&nbsp;&nbsp; 16176 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 12240 | &nbsp;&nbsp;&nbsp;&nbsp; 12271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp. Series N, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.00%), 6.67%, <br> 3/1/2026 (b) (c) (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 21047 | &nbsp;&nbsp;&nbsp;&nbsp; 21143 |
| &nbsp;&nbsp;&nbsp; US Bancorp (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.54%), 3.70%, 1/15/2027 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 17865 | &nbsp;&nbsp;&nbsp;&nbsp; 17274 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co.  | &nbsp;&nbsp;&nbsp; Wells Fargo & Co.  | &nbsp;&nbsp;&nbsp; Wells Fargo & Co.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series BB, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.45%), 3.90%, 3/15/2026 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 30744 | &nbsp;&nbsp;&nbsp;&nbsp; 30445 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3865 | &nbsp;&nbsp;&nbsp;&nbsp; 4137 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 15275 | &nbsp;&nbsp;&nbsp;&nbsp; 16052 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 758209 |
| **Capital Markets — 11.4%** | **Capital Markets — 11.4%** | **Capital Markets — 11.4%** |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The)  | &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The)  | &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.35%), 3.70%, 3/20/2026 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series F, (3-MONTH CME TERM SOFR + 3.39%), 4.63%, 9/20/2026 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4852 | &nbsp;&nbsp;&nbsp;&nbsp; 4818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.63%), 3.75%, 12/20/2026 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6729 | &nbsp;&nbsp;&nbsp;&nbsp; 6595 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3059 | &nbsp;&nbsp;&nbsp;&nbsp; 3147 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The)  | &nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The)  | &nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.17%), 4.00%, 6/1/2026 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7457 | &nbsp;&nbsp;&nbsp;&nbsp; 7373 |

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**JPMorgan Preferred and Income Securities Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Capital Markets — continued** | **Capital Markets — continued** | **Capital Markets — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, (US Treasury Yield Curve Rate T Note Constant Maturity 10 Year + 3.08%), 4.00%, 12/1/2030 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 26714 | &nbsp;&nbsp;&nbsp;&nbsp; 25067 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Germany) (SOFR + 3.65%), 7.08%, 2/10/2034 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 5496 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series U, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.92%), 3.65%, 8/10/2026 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2449 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5050 | &nbsp;&nbsp;&nbsp;&nbsp; 5360 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 25965 | &nbsp;&nbsp;&nbsp;&nbsp; 27412 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 17290 | &nbsp;&nbsp;&nbsp;&nbsp; 17960 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8310 | &nbsp;&nbsp;&nbsp;&nbsp; 8434 |
| &nbsp;&nbsp;&nbsp; State Street Corp.  | &nbsp;&nbsp;&nbsp; State Street Corp.  | &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 16931 | &nbsp;&nbsp;&nbsp;&nbsp; 17610 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp;&nbsp;&nbsp; 8353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (Switzerland) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.76%), 9.25%, <br> 11/13/2033 (a) (b) (c) (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 37325 | &nbsp;&nbsp;&nbsp;&nbsp; 44449 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 186997 |
| **Consumer Finance — 2.6%** | **Consumer Finance — 2.6%** | **Consumer Finance — 2.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC (Ireland) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.72%), 6.95%, <br> 3/10/2055 (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2390 | &nbsp;&nbsp;&nbsp;&nbsp; 2502 |
| &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 (b) (c) (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10610 | &nbsp;&nbsp;&nbsp;&nbsp; 9778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Express Co. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.85%), 3.55%, 9/15/2026 (b) (c) <br> (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13606 | &nbsp;&nbsp;&nbsp;&nbsp; 13346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. Series M, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 3.95%, <br> 9/1/2026 (b) (c) (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10812 | &nbsp;&nbsp;&nbsp;&nbsp; 10614 |
| &nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II 6.52%, 12/21/2065 (e) (g) | &nbsp;&nbsp;&nbsp;&nbsp; 6498 | &nbsp;&nbsp;&nbsp;&nbsp; 5546 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 41786 |
| **Electric Utilities — 5.5%** | **Electric Utilities — 5.5%** | **Electric Utilities — 5.5%** |
| &nbsp;&nbsp;&nbsp; Alliant Energy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.08%), 5.75%, 4/1/2056 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2570 | &nbsp;&nbsp;&nbsp;&nbsp; 2573 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.59%), 6.45%, 9/1/2054 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7395 | &nbsp;&nbsp;&nbsp;&nbsp; 7811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electricite de France SA (France) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.41%), 9.13%, <br> 3/15/2033 (b) (c) (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7630 | &nbsp;&nbsp;&nbsp;&nbsp; 8841 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. (Canada) Series 16-A, (3-MONTH SOFR + 5.44%), 6.75%, 6/15/2076 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10905 | &nbsp;&nbsp;&nbsp;&nbsp; 10961 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.67%), 7.13%, 12/1/2054 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7090 | &nbsp;&nbsp;&nbsp;&nbsp; 7408 |
| &nbsp;&nbsp;&nbsp; EUSHI Finance, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.51%), 6.25%, 4/1/2056 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8125 | &nbsp;&nbsp;&nbsp;&nbsp; 8077 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.98%), 6.50%, 3/15/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2940 | &nbsp;&nbsp;&nbsp;&nbsp; 3073 |
| &nbsp;&nbsp;&nbsp; Nevada Power Co. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.94%), 6.25%, 5/15/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5630 | &nbsp;&nbsp;&nbsp;&nbsp; 5709 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.  | &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.  | &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.46%), 6.75%, 6/15/2054 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4820 | &nbsp;&nbsp;&nbsp;&nbsp; 5180 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4138 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3265 | &nbsp;&nbsp;&nbsp;&nbsp; 3390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.98%), 6.50%, 8/15/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2860 | &nbsp;&nbsp;&nbsp;&nbsp; 3030 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.88%), 7.38%, 3/15/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5500 | &nbsp;&nbsp;&nbsp;&nbsp; 5651 |
| &nbsp;&nbsp;&nbsp; PPL Capital Funding, Inc. Series A, (3-MONTH CME TERM SOFR + 2.93%), 6.93%, 3/30/2067 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3863 | &nbsp;&nbsp;&nbsp;&nbsp; 3833 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4895 | &nbsp;&nbsp;&nbsp;&nbsp; 4899 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The) Series B, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.73%), 4.00%, 1/15/2051 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5103 | &nbsp;&nbsp;&nbsp;&nbsp; 5085 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 89659 |

---

------

**JPMorgan Preferred and Income Securities Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Financial Services — 1.1%** | **Financial Services — 1.1%** | **Financial Services — 1.1%** |
| &nbsp;&nbsp;&nbsp; Corebridge Financial, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.85%), 6.88%, 12/15/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 11215 | &nbsp;&nbsp;&nbsp;&nbsp; 11501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Voya Financial, Inc. Series A, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.36%), 7.76%, <br> 9/15/2028 (b) (c) (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6747 | &nbsp;&nbsp;&nbsp;&nbsp; 7167 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18668 |
| **Insurance — 4.4%** | **Insurance — 4.4%** | **Insurance — 4.4%** |
| &nbsp;&nbsp;&nbsp; Allianz SE (Germany) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.77%), 5.60%, 9/3/2054 (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp; 3600 | &nbsp;&nbsp;&nbsp;&nbsp; 3694 |
| &nbsp;&nbsp;&nbsp; Allstate Corp. (The) (3-MONTH SOFR + 2.12%), 6.50%, 5/15/2057 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3615 | &nbsp;&nbsp;&nbsp;&nbsp; 3809 |
| &nbsp;&nbsp;&nbsp; Athene Holding Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.58%), 6.88%, 6/28/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meiji Yasuda Life Insurance Co. (Japan) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.91%), 6.10%, <br> 6/11/2055 (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10405 |
| &nbsp;&nbsp;&nbsp; MetLife Capital Trust IV 7.88%, 12/15/2037 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 12833 | &nbsp;&nbsp;&nbsp;&nbsp; 14354 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. 9.25%, 4/8/2038 (e) | &nbsp;&nbsp;&nbsp;&nbsp; 13675 | &nbsp;&nbsp;&nbsp;&nbsp; 16412 |
| &nbsp;&nbsp;&nbsp; PartnerRe Finance B LLC (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.82%), 4.50%, 10/1/2050 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2359 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc.  | &nbsp;&nbsp;&nbsp; Prudential Financial, Inc.  | &nbsp;&nbsp;&nbsp; Prudential Financial, Inc.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.23%), 6.00%, 9/1/2052 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3793 | &nbsp;&nbsp;&nbsp;&nbsp; 3941 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5120 | &nbsp;&nbsp;&nbsp;&nbsp; 5521 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9340 | &nbsp;&nbsp;&nbsp;&nbsp; 9995 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 72538 |
| **Multi-Utilities — 4.6%** | **Multi-Utilities — 4.6%** | **Multi-Utilities — 4.6%** |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp.  | &nbsp;&nbsp;&nbsp; CMS Energy Corp.  | &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4320 | &nbsp;&nbsp;&nbsp;&nbsp; 4213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.90%), 3.75%, 12/1/2050 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7118 | &nbsp;&nbsp;&nbsp;&nbsp; 6571 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2588 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc.  | &nbsp;&nbsp;&nbsp; Dominion Energy, Inc.  | &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4800 | &nbsp;&nbsp;&nbsp;&nbsp; 4728 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2430 | &nbsp;&nbsp;&nbsp;&nbsp; 2635 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8230 | &nbsp;&nbsp;&nbsp;&nbsp; 8614 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7500 | &nbsp;&nbsp;&nbsp;&nbsp; 7762 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7678 | &nbsp;&nbsp;&nbsp;&nbsp; 7733 |
| &nbsp;&nbsp;&nbsp; NiSource, Inc.  | &nbsp;&nbsp;&nbsp; NiSource, Inc.  | &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 9880 | &nbsp;&nbsp;&nbsp;&nbsp; 10282 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5060 | &nbsp;&nbsp;&nbsp;&nbsp; 5237 |
| &nbsp;&nbsp;&nbsp; Sempra  | &nbsp;&nbsp;&nbsp; Sempra  | &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2350 | &nbsp;&nbsp;&nbsp;&nbsp; 2287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.79%), 6.88%, 10/1/2054 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 8590 | &nbsp;&nbsp;&nbsp;&nbsp; 8901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.63%), 6.37%, 4/1/2056 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 3964 | &nbsp;&nbsp;&nbsp;&nbsp; 4068 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 75619 |
| **Oil, Gas & Consumable Fuels — 6.8%** | **Oil, Gas & Consumable Fuels — 6.8%** | **Oil, Gas & Consumable Fuels — 6.8%** |
| &nbsp;&nbsp;&nbsp; BP Capital Markets plc  | &nbsp;&nbsp;&nbsp; BP Capital Markets plc  | &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 1725 | &nbsp;&nbsp;&nbsp;&nbsp; 1713 |
| &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 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5540 | &nbsp;&nbsp;&nbsp;&nbsp; 5915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.92%), 6.13%, 3/18/2035 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7500 | &nbsp;&nbsp;&nbsp;&nbsp; 7768 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Enbridge, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Enbridge, Inc. (Canada) |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 15490 | &nbsp;&nbsp;&nbsp;&nbsp; 15639 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2530 | &nbsp;&nbsp;&nbsp;&nbsp; 2742 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 18304 | &nbsp;&nbsp;&nbsp;&nbsp; 20935 |

---

------

**JPMorgan Preferred and Income Securities Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** | **Oil, Gas & Consumable Fuels — continued** |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP  | &nbsp;&nbsp;&nbsp; Energy Transfer LP  | &nbsp;&nbsp;&nbsp; Energy Transfer LP  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series H, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.69%), 6.50%, 11/15/2026 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series G, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.31%), 7.13%, 5/15/2030 (b) (c) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 15106 | &nbsp;&nbsp;&nbsp;&nbsp; 15609 |
| &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 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 18235 | &nbsp;&nbsp;&nbsp;&nbsp; 18150 |
| &nbsp;&nbsp;&nbsp; Transcanada Trust (Canada) | &nbsp;&nbsp;&nbsp; Transcanada Trust (Canada) | &nbsp;&nbsp;&nbsp; Transcanada Trust (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 4.42%), 5.50%, 9/15/2079 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 11164 | &nbsp;&nbsp;&nbsp;&nbsp; 11060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.99%), 5.60%, 3/7/2082 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10245 | &nbsp;&nbsp;&nbsp;&nbsp; 10152 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 112192 |
| **Wireless Telecommunication Services — 1.0%** | **Wireless Telecommunication Services — 1.0%** | **Wireless Telecommunication Services — 1.0%** |
| &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (Canada) | &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (Canada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.62%), 7.13%, 4/15/2055 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4225 | &nbsp;&nbsp;&nbsp;&nbsp; 4479 |
| &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; 9560 | &nbsp;&nbsp;&nbsp;&nbsp; 9486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.77%), 4.13%, <br> 6/4/2081 (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2750 | &nbsp;&nbsp;&nbsp;&nbsp; 2573 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $1,295,130)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 1372206 |
|  | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>|  |
| **Preferred Stocks — 8.8%** | **Preferred Stocks — 8.8%** | **Preferred Stocks — 8.8%** |
| **Banks — 0.8%** | **Banks — 0.8%** | **Banks — 0.8%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. Series LL, 5.00%, 10/30/2025 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 1066 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. 6.95%, 9/15/2029 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 1314 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. Series Z, 4.75%, 12/15/2025 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 565 | &nbsp;&nbsp;&nbsp;&nbsp; 11153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 13533 |
| **Capital Markets — 3.3%** | **Capital Markets — 3.3%** | **Capital Markets — 3.3%** |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The) Series K, 6.15%, 3/20/2030 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp;&nbsp;&nbsp; 8504 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | &nbsp;&nbsp;&nbsp; Morgan Stanley | &nbsp;&nbsp;&nbsp; Morgan Stanley |
| &nbsp;&nbsp;&nbsp; Series I, 6.38%, 1/15/2026 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 14 |
| &nbsp;&nbsp;&nbsp; Series O, 4.25%, 1/15/2027 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp;&nbsp; 5995 |
| &nbsp;&nbsp;&nbsp; Series K, 5.85%, 4/15/2027 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp; 1297 |
| &nbsp;&nbsp;&nbsp; Series P, 6.50%, 10/15/2027 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 606 | &nbsp;&nbsp;&nbsp;&nbsp; 15455 |
| &nbsp;&nbsp;&nbsp; Series Q, 6.63%, 10/15/2029 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 883 | &nbsp;&nbsp;&nbsp;&nbsp; 22885 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 54150 |
| **Diversified Telecommunication Services — 0.5%** | **Diversified Telecommunication Services — 0.5%** | **Diversified Telecommunication Services — 0.5%** |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | &nbsp;&nbsp;&nbsp; AT&T, Inc. | &nbsp;&nbsp;&nbsp; AT&T, Inc. |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 10/30/2025 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 838 |
| &nbsp;&nbsp;&nbsp; Series C, 4.75%, 10/30/2025 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 261 | &nbsp;&nbsp;&nbsp;&nbsp; 5191 |
| &nbsp;&nbsp;&nbsp; 5.35%, 11/1/2066 ($25 par value) | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 1153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7182 |
| **Electric Utilities — 2.8%** | **Electric Utilities — 2.8%** | **Electric Utilities — 2.8%** |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. Series U, 6.50%, 6/1/2085 ($25 par value) | &nbsp;&nbsp;&nbsp;&nbsp; 869 | &nbsp;&nbsp;&nbsp;&nbsp; 22388 |
| &nbsp;&nbsp;&nbsp; SCE Trust VII Series M, 7.50%, 11/22/2028 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; 5359 |

---

------

**JPMorgan Preferred and Income Securities Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Preferred Stocks — continued** | **Preferred Stocks — continued** | **Preferred Stocks — continued** |
| **Electric Utilities — continued** | **Electric Utilities — continued** | **Electric Utilities — continued** |
| &nbsp;&nbsp;&nbsp; SCE Trust VIII Series N, 6.95%, 5/13/2029 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp; 9792 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. 6.25%, 10/15/2085 ($25 par value) | &nbsp;&nbsp;&nbsp;&nbsp; 328 | &nbsp;&nbsp;&nbsp;&nbsp; 8174 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 45713 |
| **Insurance — 0.7%** | **Insurance — 0.7%** | **Insurance — 0.7%** |
| &nbsp;&nbsp;&nbsp; Allstate Corp. (The) Series J, 7.38%, 7/15/2028 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp; 3550 |
| &nbsp;&nbsp;&nbsp; Athene Holding Ltd. Series E, 7.75%, 12/30/2027 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp; 3262 |
| &nbsp;&nbsp;&nbsp; Lincoln National Corp. Series D, 9.00%, 12/1/2027 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp;&nbsp;&nbsp; 3389 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. Series F, 4.75%, 12/15/2025 ($25 par value) (h) | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 1869 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12070 |
| **Multi-Utilities — 0.7%** | **Multi-Utilities — 0.7%** | **Multi-Utilities — 0.7%** |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp. 5.88%, 3/1/2079 ($25 par value) | &nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp; 3888 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. Series H, 6.25%, 10/1/2085 ($25 par value) | &nbsp;&nbsp;&nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp; 8181 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks <br>(Cost $143,266)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 144717 |
| **Exchange-Traded Funds — 3.0%** | **Exchange-Traded Funds — 3.0%** | **Exchange-Traded Funds — 3.0%** |
| **Fixed Income — 3.0%** | **Fixed Income — 3.0%** | **Fixed Income — 3.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Preferred ETF <br>(Cost $48,466)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4256 | &nbsp;&nbsp;&nbsp;&nbsp; 49374 |
| **Short-Term Investments — 4.7%** | **Short-Term Investments — 4.7%** | **Short-Term Investments — 4.7%** |
| **Investment Companies — 4.7%** | **Investment Companies — 4.7%** | **Investment Companies — 4.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class IM Shares, 4.20% (i) (j) <br>(Cost $76,066)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 76051 | &nbsp;&nbsp;&nbsp;&nbsp; 76081 |
| **Total Investments — 100.1%** <br>**(Cost $1,562,928)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **1642378** |
| **Liabilities in Excess of Other Assets — (0.1)%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(1642)**<br>|
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **1640736** |

---

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

<br>Percentages indicated are based on net assets.<br>

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| CME | Chicago Mercantile Exchange |
| ETF | Exchange Traded Fund |
| ICE | Intercontinental Exchange |
| SOFR | Secured Overnight Financing Rate |
| USD | United States Dollar |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Contingent Capital security ("CoCo"). CoCos are hybrid debt securities that may be convertible into equity or may be written down if a pre-specified trigger event occurs. The total value of aggregate CoCo holdings at September 30, 2025 is $493,520 or 30.08% of the Fund's net assets as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Security is an interest bearing note with preferred security characteristics.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 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 effect as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Variable or floating rate security, linked to the referenced benchmark. The interest
 rate shown is the current rate as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities
 Act of 1933, as amended.

------

**JPMorgan Preferred and Income Securities Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Security exempt from registration pursuant to Regulation S under the Securities Act
 of 1933, as amended. Regulation S applies to securities 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 restrictions on resale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Variable or floating rate security, the interest rate of which adjusts periodically
 based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of September
 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The date shown reflects the next call date on which the issuer may redeem the security
 at par value. The coupon rate for this security is based on par value and is in effect as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Investment in an affiliated fund, which is registered under the Investment Company
 Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The rate shown is the current yield as of September 30, 2025.

------

**JPMorgan Preferred and Income Securities Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

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

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

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

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

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

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values ("NAV") of the Fund are calculated on a valuation date.

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

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

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

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

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

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

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

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** |  |  |  |  |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1372206 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1372206 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 49374 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 49374 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 144717 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 144717 |

---

------

**JPMorgan Preferred and Income Securities Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &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** |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; $76081 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $76081 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $270172 | &nbsp;&nbsp;&nbsp;&nbsp; $1372206 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1642378 |

---

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** |
| **Security Description** | **Value at** <br>**June 30,** <br>**2025**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**September 30,** <br>**2025**<br>| **Shares at** <br>**September 30,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class IM <br> Shares, 4.20% (a) (b)<br>| $58966 | $147848 | $130747 | $4 | $10 | $76081 | 76051 | $739 | $— |

---

&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 September 30, 2025.

------

## 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 IV

- **b. Investment Company Act file number:** 811-23117

- **c. CIK number of Registrant:** 0001659326

- **d. LEI of Registrant:** 549300OTMPZX852VDL37

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

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

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

- **a. Name of Series:** JPMorgan Preferred and Income Securities Fund

- **b. EDGAR series identifier (if any):** S000075349

- **c. LEI of Series:** 549300HNW9W4T1KS1666

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

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

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1659543676.57

**Total Liabilities:** $24487198.76

**Net Assets:** $1635056477.81

**Cash Not Reported:** $258258.60

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2217.00447000 | **1-Year:** 29742.11025000 | **5-Year:** 158387.86222000 | **10-Year:** 168036.25384000 | **30-Year:** 127097.39514000

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

- **3-Month:** 180.04365000 | **1-Year:** 13457.55483000 | **5-Year:** 92954.73731000 | **10-Year:** 59144.05885000 | **30-Year:** 8107.85226000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237453 | 0.80%                | 0.70%                | 1.31%                |
| Class ID C000234322 | 0.86%                | 0.76%                | 1.37%                |
| Class ID C000234320 | 0.77%                | 0.76%                | 1.47%                |
| Class ID C000234321 | 0.74%                | 0.84%                | 1.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $566964.14               | $4989836.47                                |
| Month 2  | $339552.86               | $4757062.91                                |
| Month 3  | $1413221.86              | $12284298.77                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                     | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Transcanada Trust                        | Transcanada Trust                                  | CUSIP: 89356BAG3<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |  10245000 | PA      | $10151757.18  | 0.62%             | 2082-03-07      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                 | Lloyds Banking Group plc                           | CUSIP: 53944YBB8<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   8480000 | PA      | $8679334.10   | 0.53%             | 2031-09-27      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Athene Holding Ltd.                      | Athene Holding Ltd., Series E                      | CUSIP: 04686J507<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |    125000 | NS      | $3262500.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                      | Fifth Third Bancorp, Series H                      | CUSIP: 316773CM0<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   6008000 | PA      | $5989891.89   | 0.37%             | 2025-11-05      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                      | Intesa Sanpaolo SpA                                | CUSIP: 46115HCF2<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |  10865000 | PA      | $13424004.66  | 0.82%             | 2053-11-28      | Fixed         | 7.80%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                        | HSBC Holdings plc                                  | CUSIP: 404280EJ4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  10220000 | PA      | $10740392.18  | 0.66%             | 2034-03-11      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)      | Bank of New York Mellon Corp. (The), Series I      | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   6729000 | PA      | $6594611.04   | 0.40%             | 2026-12-20      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| NiSource, Inc.                           | NiSource, Inc.                                     | CUSIP: 65473PAR6<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   9880000 | PA      | $10281463.92  | 0.63%             | 2054-11-30      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Exelon Corp.                             | Exelon Corp.                                       | CUSIP: 30161NBQ3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |   2940000 | PA      | $3072881.36   | 0.19%             | 2055-03-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Allianz SE                               | Allianz SE                                         | CUSIP: 018820AD2<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |   3600000 | PA      | $3693679.20   | 0.23%             | 2054-09-03      | Variable      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| Commerzbank AG                           | Commerzbank AG                                     | CUSIP: N/A<br>LEI: 851WYGNLUQLFZBSYGB56       | Long             | DBT              | CORP              | DE        |   6200000 | PA      | $6509194.00   | 0.40%             | 2030-10-09      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Allstate Corp. (The)                     | Allstate Corp. (The)                               | CUSIP: 020002AU5<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |   3615000 | PA      | $3808778.46   | 0.23%             | 2057-05-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Sierra Pacific Power Co.                 | Sierra Pacific Power Co.                           | CUSIP: 826418BR5<br>LEI: QB888G5GSVGE1LD1WV84 | Long             | DBT              | CORP              | US        |   4895000 | PA      | $4899351.66   | 0.30%             | 2055-12-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                           | BNP Paribas SA                                     | CUSIP: 05602XJC3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   5000000 | PA      | $5229040.00   | 0.32%             | 2034-09-10      | Variable      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| EUSHI Finance, Inc.                      | EUSHI Finance, Inc.                                | CUSIP: 29882DAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8125000 | PA      | $8076461.98   | 0.49%             | 2056-04-01      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                   | Truist Financial Corp., Series N                   | CUSIP: 89832QAD1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |  21047000 | PA      | $21142616.52  | 1.29%             | 2026-03-01      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| PartnerRe Finance B LLC                  | PartnerRe Finance B LLC                            | CUSIP: 70213BAC5<br>LEI: 549300O0FAGHK2F79881 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2358826.75   | 0.14%             | 2050-10-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                     | Royal Bank of Canada                               | CUSIP: 780082AY9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   8135000 | PA      | $8056277.12   | 0.49%             | 2085-11-24      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                         | Deutsche Bank AG                                   | CUSIP: 251526CT4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   5000000 | PA      | $5496216.65   | 0.34%             | 2034-02-10      | Variable      | 7.08%                 | No            |                  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        |   3059000 | PA      | $3147224.62   | 0.19%             | 2030-03-20      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                       | State Street Corp., Series I                       | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  16931000 | PA      | $17609662.20  | 1.08%             | 2029-03-15      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets plc                   | BP Capital Markets plc                             | CUSIP: 05565QDW5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   5540000 | PA      | $5915384.86   | 0.36%             | 2033-12-01      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares, Inc.              | Huntington Bancshares, Inc., Series F              | CUSIP: 446150AT1<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   6214000 | PA      | $6281887.95   | 0.38%             | 2030-07-15      | Variable      | 5.62%                 | 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        |   2500000 | PA      | $2448646.75   | 0.15%             | 2026-08-10      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                          | Citigroup, Inc., Series GG                         | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  13555000 | PA      | $13969200.14  | 0.85%             | 2030-08-15      | Variable      | 6.87%                 | No            |                  2 | On Loan: No      |
| Meiji Yasuda Life Insurance Co.          | Meiji Yasuda Life Insurance Co.                    | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |  10000000 | PA      | $10404640.00  | 0.64%             | 2055-06-11      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| ILFC E-Capital Trust II                  | ILFC E-Capital Trust II                            | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | SN               | CORP              | US        |   6498000 | PA      | $5545731.75   | 0.34%             | 2065-12-21      | Floating      | 6.52%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                             | ING Groep NV                                       | CUSIP: 456837AR4<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |  18150000 | PA      | $18179403.00  | 1.11%             | 2026-11-16      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                         | Bank of Montreal                                   | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   4650000 | PA      | $4927646.85   | 0.30%             | 2084-05-26      | Variable      | 7.70%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                        | NatWest Group plc                                  | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |  16075000 | PA      | $18096511.63  | 1.11%             | 2033-11-10      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                          | Nordea Bank Abp                                    | CUSIP: 65559CAA9<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   8700000 | PA      | $8745153.00   | 0.53%             | 2026-03-26      | Variable      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Emera, Inc.                              | Emera, Inc., Series 16-A                           | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |  11201000 | PA      | $11258405.13  | 0.69%             | 2076-06-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Sempra                                   | Sempra                                             | CUSIP: 816851BW8<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   3964000 | PA      | $4068045.41   | 0.25%             | 2056-04-01      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| Lincoln National Corp.                   | Lincoln National Corp., Series D                   | CUSIP: 534187885<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EP               | CORP              | US        |    127076 | NS      | $3389116.92   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge, Inc.                           | Enbridge, Inc., Series 20-A                        | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  15490000 | PA      | $15638905.37  | 0.96%             | 2080-07-15      | Variable      | 5.75%                 | No            |                  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        |   4852000 | PA      | $4818338.28   | 0.29%             | 2026-09-20      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                    | Bank of America Corp.                              | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  16275000 | PA      | $16482938.35  | 1.01%             | 2030-07-26      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                        | HSBC Holdings plc                                  | CUSIP: 404280BP3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4000000 | PA      | $4085896.00   | 0.25%             | 2028-03-23      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                 | Lloyds Banking Group plc                           | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   9530000 | PA      | $9630541.50   | 0.59%             | 2026-06-27      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                         | Bank of Montreal                                   | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   8355000 | PA      | $8866117.13   | 0.54%             | 2084-11-26      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                    | Bank of America Corp., Series FF                   | CUSIP: 060505FL3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   6746000 | PA      | $6815186.98   | 0.42%             | 2028-03-15      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Standard Chartered plc                   | Standard Chartered plc                             | CUSIP: 853254CM0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   8610000 | PA      | $8925685.65   | 0.55%             | 2027-08-15      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Voya Financial, Inc.                     | Voya Financial, Inc., Series A                     | CUSIP: 929089AG5<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |   6747000 | PA      | $7167297.62   | 0.44%             | 2028-09-15      | Variable      | 7.76%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                             | UBS Group AG                                       | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  37325000 | PA      | $44449110.78  | 2.72%             | 2033-11-13      | Variable      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                       | Credit Agricole SA                                 | CUSIP: 225313AR6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |  18240000 | PA      | $18311315.85  | 1.12%             | 2034-09-23      | Variable      | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Prudential Financial, Inc.               | Prudential Financial, Inc.                         | CUSIP: 744320BP6<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   9340000 | PA      | $9994762.02   | 0.61%             | 2054-03-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                               | AT&T, Inc., Series A                               | CUSIP: 00206R508<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |     40000 | NS      | $838000.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Capital Funding, Inc.                | PPL Capital Funding, Inc., Series A                | CUSIP: 69352PAC7<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |   3863000 | PA      | $3833137.27   | 0.23%             | 2067-03-30      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.    | NextEra Energy Capital Holdings, Inc.              | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2860000 | PA      | $3029500.76   | 0.19%             | 2055-08-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                       | Vodafone Group plc                                 | CUSIP: 92857WBW9<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |   2750000 | PA      | $2572607.57   | 0.16%             | 2081-06-04      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                      | Societe Generale SA                                | CUSIP: 83370RAE8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   7435000 | PA      | $7788251.72   | 0.48%             | 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        |  30615000 | PA      | $31854570.74  | 1.95%             | 2030-05-01      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)      | Bank of New York Mellon Corp. (The), Series H      | CUSIP: 064058AJ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2474546.50   | 0.15%             | 2026-03-20      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                    | Dominion Energy, Inc., Series B                    | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   2430000 | PA      | $2634817.41   | 0.16%             | 2054-06-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| US Bancorp                               | US Bancorp                                         | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |  17865000 | PA      | $17274291.99  | 1.06%             | 2027-01-15      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Sempra                                   | Sempra                                             | CUSIP: 816851BS7<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   8590000 | PA      | $8900700.73   | 0.54%             | 2054-10-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                           | Enbridge, Inc.                                     | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  18304000 | PA      | $20934559.36  | 1.28%             | 2084-01-15      | Variable      | 8.50%                 | No            |                  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        |  12873000 | PA      | $13208998.17  | 0.81%             | 2030-03-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| MetLife, Inc.                            | MetLife, Inc.                                      | CUSIP: 59156RBS6<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |  13675000 | PA      | $16412365.78  | 1.00%             | 2038-04-08      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                          | Citigroup, Inc., Series Z                          | CUSIP: 172967PC9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5209685.00   | 0.32%             | 2028-05-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                    | Dominion Energy, Inc., Series C                    | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   4800000 | PA      | $4728100.32   | 0.29%             | 2027-01-15      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                        | Wells Fargo & Co., Series BB                       | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  30744000 | PA      | $30445429.64  | 1.86%             | 2026-03-15      | Variable      | 3.90%                 | 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        |   5050000 | PA      | $5359615.50   | 0.33%             | 2029-02-10      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                     | Royal Bank of Canada                               | CUSIP: 780082AR4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   4520000 | PA      | $4763013.28   | 0.29%             | 2084-05-02      | Variable      | 7.50%                 | 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        |  25965000 | PA      | $27412289.10  | 1.68%             | 2029-05-10      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                        | NatWest Group plc                                  | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   7986000 | PA      | $7995247.79   | 0.49%             | 2025-12-29      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                        | Wells Fargo & Co.                                  | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  15275000 | PA      | $16052344.75  | 0.98%             | 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        |  10812000 | PA      | $10613872.91  | 0.65%             | 2026-09-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)              | Toronto-Dominion Bank (The)                        | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  15305000 | PA      | $16176325.13  | 0.99%             | 2082-10-31      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Rogers Communications, Inc.              | Rogers Communications, Inc.                        | CUSIP: 775109BS9<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   9560000 | PA      | $9486340.20   | 0.58%             | 2082-03-15      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC               | AerCap Ireland Capital DAC                         | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   2390000 | PA      | $2501606.14   | 0.15%             | 2055-03-10      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| MetLife, Inc.                            | MetLife, Inc., Series F                            | CUSIP: 59156R850<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |     89600 | NS      | $1869056.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group, Inc. (The) | PNC Financial Services Group, Inc. (The), Series T | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  29568000 | PA      | $28658127.59  | 1.75%             | 2026-09-15      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Standard Chartered plc                   | Standard Chartered plc                             | CUSIP: 853254BX7<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   9435000 | PA      | $8857791.23   | 0.54%             | 2031-01-14      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                | Bank of Nova Scotia (The)                          | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  12200000 | PA      | $12963866.40  | 0.79%             | 2082-10-27      | Variable      | 8.62%                 | No            |                  2 | On Loan: No      |
| NiSource, Inc.                           | NiSource, Inc.                                     | CUSIP: 65473PAT2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   5060000 | PA      | $5237041.66   | 0.32%             | 2055-03-31      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Standard Chartered plc                   | Standard Chartered plc                             | CUSIP: 853254DA5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   5500000 | PA      | $5887380.95   | 0.36%             | 2030-03-08      | Variable      | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Athene Holding Ltd.                      | Athene Holding Ltd.                                | CUSIP: 04686JAM3<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2048550.00   | 0.13%             | 2055-06-28      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.    | NextEra Energy Capital Holdings, Inc.              | CUSIP: 65339KCW8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4137972.00   | 0.25%             | 2054-09-01      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.    | Sumitomo Mitsui Financial Group, Inc.              | CUSIP: 86562MDK3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   9496000 | PA      | $9900975.91   | 0.61%             | 2034-06-05      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)               | Charles Schwab Corp. (The), Series H               | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  26714000 | PA      | $25067423.84  | 1.53%             | 2030-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                               | AT&T, Inc., Series C                               | CUSIP: 00206R706<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |    260615 | NS      | $5191450.80   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                       | State Street Corp., Series J                       | CUSIP: 857477CM3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8353024.00   | 0.51%             | 2029-09-15      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)              | Toronto-Dominion Bank (The)                        | CUSIP: 89116C4H7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  12240000 | PA      | $12270600.00  | 0.75%             | 2085-10-31      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)               | Charles Schwab Corp. (The), Series I               | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   7457000 | PA      | $7373116.21   | 0.45%             | 2026-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                           | Morgan Stanley, Series P                           | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    606076 | NS      | $15454938.00  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BP Capital Markets plc                   | BP Capital Markets plc                             | CUSIP: 05565QDX3<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   7500000 | PA      | $7768132.50   | 0.48%             | 2035-03-18      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.    | NextEra Energy Capital Holdings, Inc.              | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   3265000 | PA      | $3390248.67   | 0.21%             | 2055-08-15      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                               | AT&T, Inc.                                         | CUSIP: 00206R300<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |     50000 | NS      | $1152500.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Capital Trust IV                 | MetLife Capital Trust IV                           | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12833000 | PA      | $14354172.49  | 0.88%             | 2037-12-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                      | Societe Generale SA                                | CUSIP: 83371GAA9<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   7770000 | PA      | $8606844.54   | 0.53%             | 2028-11-14      | Variable      | 10.00%                | Yes           |                  2 | On Loan: No      |
| Barclays plc                             | Barclays plc                                       | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   8464000 | PA      | $8959539.10   | 0.55%             | 2029-03-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                    | Dominion Energy, Inc., Series A                    | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   8230000 | PA      | $8614128.42   | 0.53%             | 2055-02-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                          | Citigroup, Inc., Series EE                         | CUSIP: 172967PR6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3950000 | PA      | $4010301.10   | 0.25%             | 2030-02-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                     | Royal Bank of Canada                               | CUSIP: 780082AV5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  17625000 | PA      | $18180143.79  | 1.11%             | 2085-08-24      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                        | Transcanada Trust                                  | CUSIP: 89356BAE8<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |  11164000 | PA      | $11060329.98  | 0.68%             | 2079-09-15      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corp.                         | CMS Energy Corp.                                   | CUSIP: 125896BY5<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2588372.53   | 0.16%             | 2055-06-01      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                      | Societe Generale SA                                | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  14265000 | PA      | $15295917.29  | 0.94%             | 2027-11-22      | Variable      | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA       | Banco Bilbao Vizcaya Argentaria SA                 | CUSIP: 05946KAM3<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |  23740000 | PA      | $26488486.87  | 1.62%             | 2029-03-19      | Variable      | 9.38%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corp.                  | Regions Financial Corp.                            | CUSIP: 7591EP860<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |     51000 | NS      | $1313760.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                      | Fifth Third Bancorp, Series J                      | CUSIP: 316773CR9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   2925000 | PA      | $2928913.65   | 0.18%             | 2025-11-05      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets plc                   | BP Capital Markets plc                             | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   1725000 | PA      | $1712807.70   | 0.10%             | 2030-03-22      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corp.                         | CMS Energy Corp.                                   | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   4320000 | PA      | $4213151.28   | 0.26%             | 2050-06-01      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                        | Wells Fargo & Co., Series Z                        | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    565000 | NS      | $11153100.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp. (The)      | Bank of New York Mellon Corp. (The), Series K      | CUSIP: 064058845<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EP               | CORP              | US        |    330000 | NS      | $8504100.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy, Inc.                    | Dominion Energy, Inc.                              | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7761959.78   | 0.47%             | 2055-05-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                          | Citigroup, Inc., Series AA                         | CUSIP: 172967PE5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11548416.00  | 0.71%             | 2028-11-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                           | Morgan Stanley, Series K                           | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     52962 | NS      | $1297039.38   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)          | Goldman Sachs Group, Inc. (The)                    | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  17290000 | PA      | $17959607.12  | 1.10%             | 2030-02-10      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.               | Prudential Financial, Inc.                         | CUSIP: 744320BL5<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   5120000 | PA      | $5521495.04   | 0.34%             | 2053-03-01      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| SCE Trust VII                            | SCE Trust VII, Series M                            | CUSIP: 783892201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    230000 | NS      | $5359000.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp.                            | Entergy Corp.                                      | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |   7090000 | PA      | $7408333.91   | 0.45%             | 2054-12-01      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                        | HSBC Holdings plc                                  | CUSIP: 404280FA2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2685000 | PA      | $2795256.84   | 0.17%             | 2030-06-05      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                 | Electricite de France SA                           | CUSIP: 28504KAA5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | NUSS              | FR        |   7630000 | PA      | $8841056.49   | 0.54%             | 2033-03-15      | Variable      | 9.12%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                             | ING Groep NV                                       | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | DBT              | CORP              | NL        |   5200000 | PA      | $5505500.00   | 0.34%             | 2034-11-16      | Variable      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Prudential Financial, Inc.               | Prudential Financial, Inc.                         | CUSIP: 744320BK7<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   3793000 | PA      | $3941162.17   | 0.24%             | 2052-09-01      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Nevada Power Co.                         | Nevada Power Co.                                   | CUSIP: 641423CH9<br>LEI: MJZFGXRJ52U8U4MKJ519 | Long             | DBT              | CORP              | US        |   5630000 | PA      | $5709383.00   | 0.35%             | 2055-05-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                       | Banco Santander SA                                 | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  33000000 | PA      | $39798781.44  | 2.43%             | 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        |    869442 | NS      | $22388131.50  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings plc                        | HSBC Holdings plc                                  | CUSIP: 404280DT3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  12721000 | PA      | $13475686.05  | 0.82%             | 2028-03-07      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corp.                         | CMS Energy Corp.                                   | CUSIP: 125896BV1<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   7118000 | PA      | $6571441.52   | 0.40%             | 2050-12-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                        | Wells Fargo & Co.                                  | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3865000 | PA      | $4137173.30   | 0.25%             | 2028-09-15      | Variable      | 7.62%                 | No            |                  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        |  76050718 | NS      | $76081137.98  | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                    | Bank of America Corp., Series RR                   | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   7709000 | PA      | $7582488.37   | 0.46%             | 2027-01-27      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                           | Enbridge, Inc.                                     | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   2530000 | PA      | $2741798.95   | 0.17%             | 2083-01-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                          | Nordea Bank Abp                                    | CUSIP: 65558RAK5<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   2580000 | PA      | $2606718.48   | 0.16%             | 2031-09-25      | Variable      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| American Express Co.                     | American Express Co.                               | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |  13606000 | PA      | $13345951.24  | 0.82%             | 2026-09-15      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                               | PG&E Corp.                                         | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5650425.28   | 0.35%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                       | Energy Transfer LP, Series G                       | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  15106000 | PA      | $15608984.48  | 0.95%             | 2030-05-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                       | Energy Transfer LP                                 | CUSIP: 29273VBG4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  18235000 | PA      | $18149527.08  | 1.11%             | 2056-02-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Barclays plc                             | Barclays plc                                       | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  13685000 | PA      | $15536060.47  | 0.95%             | 2029-12-15      | Variable      | 9.62%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                        | HSBC Holdings plc                                  | CUSIP: 404280CN7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  16422000 | PA      | $15517008.21  | 0.95%             | 2030-12-17      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                    | Dominion Energy, Inc.                              | CUSIP: 25746UDZ9<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   7678000 | PA      | $7732930.10   | 0.47%             | 2056-02-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| DTE Energy Co.                           | DTE Energy Co., Series H                           | CUSIP: 233331792<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |    322200 | NS      | $8180658.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                           | BNP Paribas SA                                     | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  14145000 | PA      | $15196511.01  | 0.93%             | 2027-11-17      | Variable      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                           | BNP Paribas SA                                     | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  31113000 | PA      | $32945306.80  | 2.01%             | 2029-08-16      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Energy Transfer LP                       | Energy Transfer LP, Series H                       | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2509325.00   | 0.15%             | 2026-11-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                    | Bank of America Corp., Series TT                   | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4879000 | PA      | $4934308.34   | 0.30%             | 2027-04-27      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                 | Svenska Handelsbanken AB                           | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | DBT              | CORP              | SE        |   6200000 | PA      | $5901273.77   | 0.36%             | 2031-03-01      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CMS Energy Corp.                         | CMS Energy Corp.                                   | CUSIP: 125896845<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    161074 | NS      | $3888326.36   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.    | NextEra Energy Capital Holdings, Inc.              | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   4820000 | PA      | $5180203.42   | 0.32%             | 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        |   8310000 | PA      | $8433927.03   | 0.52%             | 2034-11-10      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Rogers Communications, Inc.              | Rogers Communications, Inc.                        | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   4225000 | PA      | $4479189.10   | 0.27%             | 2055-04-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Invesco Preferred ETF                    | Invesco Preferred ETF                              | CUSIP: 46138E511<br>LEI: 549300J11Q08WEERN210 | Long             |  | RF                | US        |   4256400 | NS      | $49374240.00  | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                           | Morgan Stanley, Series I                           | CUSIP: 61761J406<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |       552 | NS      | $13816.56     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                    | Bank of America Corp., Series LL                   | CUSIP: 06055H202<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     50000 | NS      | $1066000.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp. (The)                     | Allstate Corp. (The), Series J                     | CUSIP: 020002788<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |    134000 | NS      | $3549660.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                       | Southern Co. (The), Series B                       | CUSIP: 842587DF1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   5103000 | PA      | $5084470.50   | 0.31%             | 2051-01-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Alliant Energy Corp.                     | Alliant Energy Corp.                               | CUSIP: 018802AF5<br>LEI: 5493009ML300G373MZ12 | Long             | DBT              | CORP              | US        |   2570000 | PA      | $2573215.07   | 0.16%             | 2056-04-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Xcel Energy, Inc.                        | Xcel Energy, Inc.                                  | CUSIP: 98389B878<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EP               | CORP              | US        |    328000 | NS      | $8173760.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                          | Citigroup, Inc., Series FF                         | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   7268000 | PA      | $7464286.88   | 0.46%             | 2030-02-15      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                     | Ally Financial, Inc., Series C                     | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |  10610000 | PA      | $9778301.20   | 0.60%             | 2028-05-15      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Sempra                                   | Sempra                                             | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   2350000 | PA      | $2286486.08   | 0.14%             | 2052-04-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                           | Morgan Stanley, Series Q                           | CUSIP: 61762V838<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    883245 | NS      | $22884877.95  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                           | Morgan Stanley, Series O                           | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    325142 | NS      | $5995618.48   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp.                        | Duke Energy Corp.                                  | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   7395000 | PA      | $7811175.81   | 0.48%             | 2054-09-01      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                             | ING Groep NV                                       | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | DBT              | CORP              | NL        |   8250000 | PA      | $8945799.31   | 0.55%             | 2030-05-16      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                          | Citigroup, Inc., Series DD                         | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  25847000 | PA      | $27453391.05  | 1.68%             | 2034-08-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.               | Corebridge Financial, Inc.                         | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |  11215000 | PA      | $11500624.41  | 0.70%             | 2052-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| SCE Trust VIII                           | SCE Trust VIII, Series N                           | CUSIP: 80620A208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    450000 | NS      | $9792000.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** JPMorgan Trust IV

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer