# EDGAR Filing Document

**Accession Number:** 0002003497
**File Stem:** 0002003497-25-000014
**Filing Date:** 2025-8
**Character Count:** 66089
**Document Hash:** 7607116730f53c52b890aa91840acef1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002003497-25-000014.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0002003497-25-000014

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Jackson Real Assets Fund
- **CENTRAL INDEX KEY:** 0002003497

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23920
- **FILM NUMBER:** 251265941

**BUSINESS ADDRESS:**
- **STREET 1:** 1 CORPORATE WAY
- **CITY:** LANSING
- **STATE:** MI
- **ZIP:** 48951
- **BUSINESS PHONE:** 517-381-5500

**MAIL ADDRESS:**
- **STREET 1:** 1 CORPORATE WAY
- **CITY:** LANSING
- **STATE:** MI
- **ZIP:** 48951

## Nport-Ex

#### Jackson Real Assets Fund (Unaudited)

#### Schedule of Investments (in thousands)
June 30, 2025

---

| | | |
|:---|:---|:---|
| | **Shares/Par<sup>1</sup>** | **Value ($)** |
| **Jackson Real Assets Fund** | **Jackson Real Assets Fund** | **Jackson Real Assets Fund** |
| **PRIVATE INVESTMENT FUNDS 52.6%** | **PRIVATE INVESTMENT FUNDS 52.6%** | **PRIVATE INVESTMENT FUNDS 52.6%** |
| CBRE U.S. Core Partners, L.P. (a) (f) | 4540 | 6928 |
| CBRE U.S. Logistics Partners, L.P. (a) (f) | 13927 | 18882 |
| CrossHarbor Strategic Debt Fund, LP (a) (f) | 10275 | 10377 |
| GDIF US Hedged Feeder Fund LP (a) (f) | 13596 | 15299 |
| Harrison Street Core Property Fund, L.P. (a) (f) | 12 | 17901 |
| Harrison Street Infrastructure Fund A, L.P. (a) (f) | 15 | 20689 |
| Kayne Anderson Core Intermediate Fund, L.P. (a) (f) | 18500 | 18784 |
| Kayne Commercial Real Estate Debt, L.P. (a) (f) | 10250 | 10428 |
| Nuveen Global Farmland Fund Lux SCSp (a) (f) | 3901 | 3901 |
| Nuveen Global Timberland Fund, L.P. (a) (f) | 5 | 4986 |
| PGIM Real Estate U.S. Debt Fund, L.P. (a) (f) | 4 | 6749 |
| PRISA III Fund LP (a) (f) | 4939 | 4939 |
| PRISA III Fund LP (a) (f) | 6 | 17669 |
| Virtus Real Estate Enhanced Core, LP (a) (f) | 8 | 10255 |
| Total Private Investment Funds (cost $165,774) | Total Private Investment Funds (cost $165,774) | 167787 |
| **COMMON STOCKS 35.7%** | **COMMON STOCKS 35.7%** | **COMMON STOCKS 35.7%** |
| **Real Estate 18.3%** | **Real Estate 18.3%** | **Real Estate 18.3%** |
| Agree Realty Corporation | 12 | 904 |
| American Homes 4 Rent - Class A | 23 | 830 |
| American Tower Corporation | 24 | 5171 |
| Americold Realty Trust, Inc. | 31 | 509 |
| BXP, Inc. | 8 | 527 |
| Caretrust REIT, Inc. | 13 | 393 |
| Crown Castle Inc. | 49 | 5051 |
| Digital Realty Trust, Inc. | 27 | 4708 |
| Equinix, Inc. | 3 | 2016 |
| Essex Property Trust, Inc. | 6 | 1804 |
| Extra Space Storage Inc. | 15 | 2249 |
| Healthcare Realty Trust Incorporated - Class A | 66 | 1051 |
| Highwoods Properties, Inc. | 28 | 887 |
| Host Hotels & Resorts, Inc. | 81 | 1245 |
| Hudson Pacific Properties, Inc. (b) | 57 | 156 |
| Invitation Homes Inc. | 68 | 2237 |
| Iron Mountain Incorporated | 16 | 1632 |
| Kilroy Realty Corporation | 15 | 507 |
| Kimco Realty OP, LLC | 54 | 1126 |
| Kite Realty Naperville, LLC | 25 | 563 |
| Lamar Advertising Company - Class A | 3 | 406 |
| Lineage, Inc. | 5 | 206 |
| Omega Healthcare Investors, Inc. | 10 | 373 |
| ProLogis Inc. | 35 | 3634 |
| Public Storage Operating Company | 5 | 1520 |
| Realty Income Corporation | 18 | 1032 |
| SBA Communications Corporation - Class A | 12 | 2968 |
| Simon Property Group, Inc. | 13 | 2023 |
| Sun Communities, Inc. | 18 | 2318 |
| UDR, Inc. | 31 | 1270 |
| VICI Properties Inc. | 25 | 807 |
| Welltower Inc. | 41 | 6263 |
| Weyerhaeuser Company | 75 | 1916 |
|  |  | 58302 |
| **Utilities 8.0%** | **Utilities 8.0%** | **Utilities 8.0%** |
| AES Corporation, The | 24 | 248 |
| American Electric Power Company, Inc. | 25 | 2602 |
| Dominion Energy, Inc. | 29 | 1614 |
| Duke Energy Corporation | 22 | 2651 |
| ENN Energy Holdings Limited | 89 | 717 |
| Evergy, Inc. | 25 | 1750 |
| Eversource Energy | 23 | 1454 |
| Hera S.p.A. | 181 | 877 |
| National Grid PLC | 172 | 2524 |
| NextEra Energy, Inc. | 19 | 1296 |
| PG&E Corporation | 63 | 878 |
| Public Service Enterprise Group Incorporated | 17 | 1415 |
| RWE Aktiengesellschaft | 27 | 1138 |
| Sempra | 27 | 2039 |
| Severn Trent PLC | 36 | 1352 |
| UGI Corporation | 17 | 630 |
| XCEL Energy Inc. | 33 | 2232 |
|  |  | 25417 |
| **Industrials 6.8%** | **Industrials 6.8%** | **Industrials 6.8%** |
| Aeroports de Paris | 8 | 958 |
| Atlas Arteria Limited | 356 | 1193 |
| Beijing Capital International Airport Co., Ltd. - Class H (b) | 1574 | 595 |
| Canadian Pacific Kansas City Limited | 21 | 1692 |
| CSX Corporation | 58 | 1910 |
| Flughafen Zurich AG - Class N | 6 | 1735 |
| Getlink S.E. | 104 | 2011 |
| Grupo Aeroportuario Del Pacifico, S.A.B. de C.V. | 74 | 1705 |
| Japan Airport Terminal Co., Ltd. | 27 | 871 |
| Motiva Infraestrutura De Mobilidade S.A. | 443 | 1128 |
| Norfolk Southern Corporation | 9 | 2345 |
| Promotora y Operadora de Infraestructura, S.A.B. de C.V. | 90 | 1012 |
| Transurban Holdings Limited | 291 | 2677 |
| VINCI | 7 | 1028 |
| West Japan Railway Company | 29 | 667 |
|  |  | 21527 |
| **Energy 1.8%** | **Energy 1.8%** | **Energy 1.8%** |
| Cheniere Energy, Inc. | 9 | 2157 |
| DT Midstream, Inc. | 5 | 526 |
| ONEOK, Inc. | 27 | 2237 |
| Targa Resources Corp. | 5 | 882 |
|  |  | 5802 |
| **Communication Services 0.4%** | **Communication Services 0.4%** | **Communication Services 0.4%** |
| China Tower Corporation Limited - Class H | 512 | 733 |
| Infrastrutture Wireless Italiane S.p.A. O, In Forma Abbreviata, Inwit S.p.A. (a) | 52 | 642 |
|  |  | 1375 |
| **Consumer Discretionary 0.4%** | **Consumer Discretionary 0.4%** | **Consumer Discretionary 0.4%** |
| Boyd Gaming Corporation | 8 | 596 |
| Caesars Entertainment, Inc. (b) | 22 | 631 |
|  |  | 1227 |
| **Health Care 0.0%** | **Health Care 0.0%** | **Health Care 0.0%** |
| PACS Group, Inc. (b) | 10 | 132 |
| Total Common Stocks (cost $107,656) | Total Common Stocks (cost $107,656) | 113782 |
| **WARRANTS 0.1%** | **WARRANTS 0.1%** | **WARRANTS 0.1%** |
| Hudson Pacific Properties, Inc. (b) (c) | 100 | 273 |
| Total Warrants (cost $222) | Total Warrants (cost $222) | 273 |
| **SHORT TERM INVESTMENTS 11.3%** | **SHORT TERM INVESTMENTS 11.3%** | **SHORT TERM INVESTMENTS 11.3%** |
| **Investment Companies 11.3%** | **Investment Companies 11.3%** | **Investment Companies 11.3%** |
| JNL Government Money Market Fund - Class I, 4.20% (d) (e) | 35963 | 35963 |
| Total Short Term Investments (cost $35,963) | Total Short Term Investments (cost $35,963) | 35963 |
| **Total Investments 99.7% (cost $309,615)** | **Total Investments 99.7% (cost $309,615)** | **317805** |
| **Other Assets and Liabilities, Net 0.3%** | **Other Assets and Liabilities, Net 0.3%** | **814** |
| **Total Net Assets 100.0%** | **Total Net Assets 100.0%** | **318619** |

---

(a) Security is restricted to resale to institutional investors or subject to trading restrictions due to sanctions on foreign issuers. See Restricted Securities table following the Schedule of Investments.

(b) Non-income producing security.

(c) Security fair valued in good faith as a Level 2 security in accordance with the procedures approved by the Board of Trustees. Good faith fair valued securities are classified based on the applicable valuation inputs. See "Fair Value Measurement" in the Schedule of Investments.

(d) Investment in affiliate.

(e) Yield changes daily to reflect current market conditions. Rate was the quoted yield as of June 30, 2025.

(f) Security fair valued using the NAV per share practical expedient in accordance with the procedures approved by the Board of Trustees. Good faith fair valued securities are classified based on the applicable valuation inputs. See "Fair Value Measurement" in the Notes to Schedule of Investments.

------

#### Jackson Real Assets Fund (Unaudited)

#### Schedule of Investments (in thousands)
June 30, 2025

---

| | | |
|:---|:---|:---|
| **Unfunded Commitments** | **Unfunded Commitments** | **Unfunded Commitments** |
|  | **Unfunded Commitment ($)** | **Unrealized Appreciation / (Depreciation)($)** |
| CrossHarbor Strategic Debt Fund, LP | 3725 |  |
| Nuveen Global Farmland Fund Lux SCSp | 12849 |  |
| PGIM Real Estate U.S. Debt Fund, L.P. | 7000 |  |
| PRISA III Fund LP | 7417 |  |
|  | 30991 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **Private Fund Investments** | **Private Fund Investments** | **Private Fund Investments** | **Private Fund Investments** |
|  | | **Lockup Period** | **Redemption Notice** |
| CBRE U.S. Core Partners, L.P. | An open-end fund investing in traditional commercial real estate sectors of logistics, residential, retail, self-storage, healthcare, and office assets. The fund predominantly targets core real estate growth opportunities but will selectively pursue non-core investments in certain segments over time. | N/A | 60 Days |
| CBRE U.S. Logistics Partners, L.P. | An open-end fund investing solely in modern logistics assets and is designed to deliver outperformance through development returns and income yield from stabilized assets. | N/A | 90 Days |
| CrossHarbor Strategic Debt Fund, LP | An open-end fund targeting a diversified portfolio of short-duration, first mortgage loans secured by core, core-plus, and value-add U.S. commercial real estate assets. Sectors of focus include multifamily, industrial, office, retail, and life sciences. | 24 Months | 90 Days |
| GDIF US Hedged Feeder Fund LP | An open-end fund targeting a global portfolio of middle-market infrastructure assets across the transportation, traditional utilities, power and renewables, and digital sectors. | 1 Year | 90 Days |
| Harrison Street Core Property Fund, L.P. | An open-end real estate fund that invests primarily in stabilized, income-producing properties within alternative sectors driven by demographic trends. These typically include student housing, senior housing, medical office buildings, life sciences, data center, and storage facilities. |  | 45 Days |
| Harrison Street Infrastructure Fund A, L.P. | An open-end fund investing in lower to middle-market infrastructure assets serving essential users like municipalities, universities, schools, and hospitals. The four primarily sectors are Social, Utilities, Power & Renewables, and Digital. | N/A | 90 Days |
| Kayne Anderson Core Intermediate Fund, L.P. | An open-end real estate fund focusing on alternative sectors including medical office, senior housing, student housing and self-storage properties. | 2 Years | 45 Days |
| Kayne Commercial Real Estate Debt, L.P. | An open-end real estate debt fund seeking high current income by focusing on selective areas of commercial real estate debt. The fund invests primarily in Freddie Mac structured products and direct loan originations secured by assets in the multifamily, student housing, senior housing, and self storage sectors. | 1 Year | 45 Days |
| Nuveen Global Farmland Fund Lux SCSp | An open-end fund targeting consistent, long-term risk-adjusted returns and regular income yields through a portfolio of high-quality agricultural assets, selected with a focus on diversification by geography and crop type through local access. | 3 years | December 31 of prior year |
| Nuveen Global Timberland Fund, L.P. | An open-end fund targeting consistent, long-term risk-adjusted returns and steady income yields through a portfolio of high-quality timberland assets, selected with a focus on diversification by geography. | 3 Years | December 31 of prior year |
| PGIM Real Estate U.S. Debt Fund, L.P. | An open-end real estate debt fund focused on income return generated through stable cash flows from loans across the multifamily, industrial, office, and retail sectors. |  | 90 Days |
| PRISA III Fund LP | An open-end value-add oriented real estate fund targeting equity and debt investments across primarily residential, industrial and office assets. | N/A | 90 Days |
| Virtus Real Estate Enhanced Core, LP | An open-end real estate fund that invests primarily in property sectors driven by major demographic trends and inuring societal needs. The four primarily sectors of focus include healthcare, education, storage, and middle-income housing. | 1 Year | 90 Days |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted Securities** | **Restricted Securities** | **Restricted Securities** | **Restricted Securities** | **Restricted Securities** |
|  | **Initial Acquisition** | **Cost ($)** | **Value ($)** | **Percent of**<br>**Net Assets (%)** |
| CBRE U.S. Core Partners, L.P. | 06/26/24 | 7250 | 6928 | 2.2 |
| CBRE U.S. Logistics Partners, L.P. | 06/26/24 | 18500 | 18882 | 5.9 |
| CrossHarbor Strategic Debt Fund, LP | 06/28/24 | 10275 | 10377 | 3.2 |
| GDIF US Hedged Feeder Fund LP | 10/15/24 | 15250 | 15299 | 4.8 |
| Harrison Street Core Property Fund, L.P. | 10/01/24 | 17750 | 17901 | 5.6 |
| Harrison Street Infrastructure Fund A, L.P. | 07/17/24 | 20002 | 20689 | 6.5 |
| Infrastrutture Wireless Italiane S.p.A. O, In Forma Abbreviata, Inwit S.p.A. | 05/02/24 | 572 | 642 | 0.2 |
| Kayne Anderson Core Intermediate Fund, L.P. | 07/02/24 | 18500 | 18784 | 5.9 |
| Kayne Commercial Real Estate Debt, L.P. | 01/02/25 | 10250 | 10428 | 3.3 |
| Nuveen Global Farmland Fund Lux SCSp | 06/02/25 | 3901 | 3901 | 1.2 |
| Nuveen Global Timberland Fund, L.P. | 08/08/24 | 4996 | 4986 | 1.6 |
| PGIM Real Estate U.S. Debt Fund, L.P. | 03/28/25 | 6750 | 6749 | 2.1 |

---

------

#### Jackson Real Assets Fund (Unaudited)

#### Schedule of Investments (in thousands)
June 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted Securities (continued)** | **Restricted Securities (continued)** | **Restricted Securities (continued)** | **Restricted Securities (continued)** | **Restricted Securities (continued)** |
|  | **Initial Acquisition** | **Cost ($)** | **Value ($)** | **Percent of**<br>**Net Assets (%)** |
| PRISA III Fund LP | 06/27/24 | 22350 | 22608 | 7.2 |
| Virtus Real Estate Enhanced Core, LP | 06/28/24 | 10000 | 10255 | 3.2 |
|  |  | 166346 | 168429 | 52.9 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments in Affiliates** | **Investments in Affiliates** | **Investments in Affiliates** | **Investments in Affiliates** | **Investments in Affiliates** | **Investments in Affiliates** | **Investments in Affiliates** | **Investments in Affiliates** | **Investments in Affiliates** |
| **Affiliated Investment** | **Value Beginning of Period($)** | **Purchases($)** | **Sales Proceeds($)** | **Dividend Income/ Distributions from Funds($)** | **Realized Gain (Loss)($)** | **Change in Unrealized Appreciation (Depreciation) ($)** | **Value End of Period($)** | **Percentage of Net Assets(%)** |
| JNL Government Money Market Fund, 4.20% - Class I | 35638 | 24064 | 23739 | 483 |  |  | 35963 | 11.3 |

---

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#### Jackson Real Assets Fund (Unaudited)

#### Notes to Schedule of Investments (in thousands)
June 30, 2025

<sup>1</sup> Rounded par and notional amounts are listed in USD unless otherwise noted. Private Funds can represent number of shares issued or contributed capital to date.

#### Abbreviations :
"-" Amount rounds to less than one thousand or 0.05%<br>LLC/L.L.C - Limited Liability Company<br>LP/L.P. – Limited Partnership Company<br>PLC/P.L.C. - Public Limited Company<br>SCSp - Special Limited Partnership<br>S.p.A - Joint-Stock Company<br>US/U.S. - United States<br>

**Security Valuation.** Under the Fund's valuation policy and procedures ("Valuation Policies and Procedures"), the Fund's Board of Trustees ("Board" or "Trustees") has designated to the Adviser the responsibility for carrying out certain functions relating to the valuation of portfolio securities for the purpose of determining the NAV of the Fund. The Adviser has established a Valuation Committee (the "Valuation Committee") that is charged with the responsibilities set forth in the Valuation Policies and Procedures. The Valuation Committee is responsible for determining fair valuations for any security for which market quotations are not readily available. For those securities fair valued under procedures approved by the Board, the Valuation Committee reviews and affirms the reasonableness of the fair valuation determinations after considering all relevant information that is reasonably available. The Valuation Committee's fair valuation determinations are subject to review by the Board.

The NAV of the Fund's shares is generally determined once each day on which the New York Stock Exchange ("NYSE") is open, at the close of the regular trading session of the NYSE (normally, 4:00 PM Eastern Time, Monday through Friday). The NAV of the Fund's shares may also not be determined on days designated by the Board or on days designated by the SEC. However, consistent with legal requirements, calculation of the Fund's NAV may be suspended on days determined by the Board during times of NYSE market closure, which may include times during which the SEC issues policies or protocols associated with such closure pursuant to Section 22(e) of the 1940 Act. In the event that the NYSE is closed unexpectedly or opens for trading but closes earlier than scheduled, the Fund's Valuation Committee will evaluate if trading activity on other U.S. exchanges and markets for equity securities is considered reflective of normal market activity. To the extent an NYSE closure is determined to be accompanied by a disruption of normal market activity, the Valuation Committee may utilize the time the NYSE closed for purposes of measuring and calculating the Fund's NAV. To the extent an NYSE closure is determined to not have resulted in a disruption of normal market activity, the Valuation Committee may utilize the time the NYSE was scheduled to close for purposes of measuring and calculating the Fund's NAV.

Equity securities are generally valued at the official closing price of the exchange where the security is principally traded. If there is no official closing price for the security on the valuation date, the security may be valued at the most recent sale or quoted bid price prior to close. Stocks not listed on a national or foreign stock exchange may be valued at the closing bid price on the over the counter ("OTC") market. Investments in mutual funds are valued at the NAV per share determined as of the close of the NYSE on each valuation date. The Adviser has retained an independent statistical fair value pricing service to assist in the fair valuation process for equities traded in foreign markets to adjust for possible changes in value that may occur between the close of the foreign exchange and the time at which the NAVs are determined. Forward foreign currency contracts are generally valued at the foreign currency exchange rate as of the close of the NYSE. Debt obligations with remaining maturities of 60 days or less, and that did not receive a price from a third-party pricing service, or it is determined that such valuation from the pricing service does not approximate fair value, may be valued at their amortized cost, unless it is determined that such practice does not approximate fair value. Debt securities are generally valued by independent pricing services approved by the Board. Private Investment Funds ("Private Funds") are generally valued using the latest NAV reported by the third-party fund manager or General Partner ("GP") as a practical expedient to estimate the fair value of such interests. The NAV and other information provided by a GP is reviewed for reasonableness based on knowledge of current market conditions and the individual characteristics of each Private Fund. If market information indicates that the NAV is not as of the measurement date, not calculated in a manner consistent with FASB ASC Topic 946 ("Topic 946"), or otherwise not reflective of the current value, best efforts shall be used to adjust the relevant Private Fund's NAV in a manner consistent with the measurement principals of Topic 946, which could include adjusting the Private Fund's NAV based on a proxy or investment model which is correlated to the underlying investment return.

Market quotations may not be readily available for certain investments or it may be determined that a quotation of an investment does not represent fair value. In such instances, the investment is valued as determined in good faith using procedures approved by the Board, which take into account factors such as the size of the holding, the nature and duration of the securities and the volume and depth of trading, among others. Situations that may require an investment to be fair valued may include instances where a security is thinly traded, halted or restricted as to resale. In addition, investments may be fair valued based on the occurrence of a significant event. Significant events may be specific to a particular issuer, such as mergers, restructurings or defaults. Alternatively, significant events may affect an entire market, such as natural disasters, government actions, and significant changes in the value of U.S. securities markets. Securities are fair valued based on observable and unobservable inputs, including the Adviser's or Valuation Committee's own assumptions in determining the fair value of an investment. Under the procedures approved by the Board, the Adviser may utilize pricing services or other sources, including the Fund's Sub-Advisers, to assist in determining the fair value of an investment. A market-based approach may be utilized whereby related or comparable assets or liabilities, recent transactions, market multiples, book values and other inputs may be considered in determining fair value. An income-based valuation approach may also be used in which the anticipated future cash flows of the asset or liability are discounted to calculate fair value. Inputs considered to determine fair value may include fundamental analytical data relating to the security; the nature and duration of restrictions, if any, on the disposition of the security; trading volume on markets, exchanges, or among dealers; evaluation of the forces which influence the market in which the security is traded; the type of security; the financial statements of the issuer, or other financial information about the issuer; the cost of the security at its date of purchase; the size of the Fund's holding; the discount from market value of unrestricted securities of the same class, if applicable, at the time of purchase or at a later date; reports prepared by analysts; information as to any transactions in, or offers for, the security; the existence of any merger proposal, tender offer or other extraordinary event relating to the security; the price and extent of public or dealer trading in similar securities or

------

#### Jackson Real Assets Fund (Unaudited)

#### Notes to Schedule of Investments (in thousands)
June 30, 2025

derivatives of the issuer or of comparable companies; trading in depositary receipts; foreign currency exchange activity; changes in the interest rate environment; trading prices of financial products that are tied to baskets of foreign securities; and any other matters considered relevant.

If an investment is valued at a fair value for purposes of calculating the Fund's NAV, the value may be different from the last quoted price for the investment depending on the source and method used to determine the value. Although there can be no assurance, in general, the fair value of the investment is the amount the owner of such investment might reasonably expect to receive in an orderly transaction between market participants upon its current sale.

#### FAIR VALUE MEASUREMENT
FASB ASC Topic 820 establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and requires additional disclosures about fair value measurements. Various inputs are used in determining the value of the Fund's investments under this guidance. The inputs are summarized into three broad categories:

Level 1 includes quoted prices (unadjusted) in active markets for identical investments that the Fund can access at the measurement date.

Level 2 includes other significant observable inputs (including fair value factors, quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

Level 3 includes significant unobservable inputs, to the extent observable inputs are not available, including the Adviser's own assumptions in determining the fair value of investments.

Inputs used in the determination of the fair value level of Level 3 securities, which were deemed to be material, are disclosed within the notes below and are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes the Fund's investments in securities and other financial instruments (in thousands) as of June 30, 2025 by valuation level.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **. Level 1 ($) .** | **. Level 2 ($) .** | **. Level 3 ($) .** | **Other ($)<sup>1</sup>** | **. Total ($) .** |
| **Assets - Securities** |  |  |  |  |  |
| &nbsp;&nbsp;Private Investment Funds |  |  |  | 167787 | 167787 |
| &nbsp;&nbsp;Common Stocks | 94064 | 19718 |  |  | 113782 |
| &nbsp;&nbsp;Warrants |  | 273 |  |  | 273 |
| &nbsp;&nbsp;Short Term Investments | 35963 |  |  |  | 35963 |
|  | 130027 | 19991 |  | 167787 | 317805 |

---

<sup>1</sup> Certain investments that are measured at fair value using the NAV per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments. Although there can be no assurance, in general, the fair value of the investment using the NAV per share practical expedient is the amount the owner of such investment might reasonably expect to receive in an orderly transaction between market participants upon its current sale.

Significant changes in unobservable valuation inputs to a different amount might result in a significantly higher or lower fair value measurement than the one used in a security's valuation.

**Unfunded Commitments.** The Fund may enter into certain agreements to purchase a Private Fund, all or a portion of which may be unfunded. The Fund is obligated to fund these commitments at the sponsor's discretion. In order to meet its obligation to fund capital calls of the Private Funds, the Fund may be required to hold some, or in certain cases a substantial amount, of its assets temporarily in money market securities, cash or cash equivalents, possibly for several months or to liquidate portfolio securities at an inopportune time.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Jackson Real Assets Fund

- **b. Investment Company Act file number:** 811-23920

- **c. CIK number of Registrant:** 0002003497

- **d. LEI of Registrant:** 25490060OA1H3FWZZ948

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

  - **Street Address 1:** 1 Corporate Way

  - **City:** Lansing

  - **State:** MI

  - **Foreign country:** US

  - **Zip / Postal Code:** 48951

  - **Telephone number:** 5173815500

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

- **a. Name of Series:** Jackson Real Assets Fund

- **c. LEI of Series:** 25490060OA1H3FWZZ948

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $319008426.21

**Total Liabilities:** $389035.76

**Net Assets:** $318619390.45

**Delayed Delivery Securities:** $31000877.30

**Cash Not Reported:** $525473.80

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.57%                | 0.66%                | 0.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-90964.25               | $1293444.01                                |
| Month 2  | $265626.92               | $1127375.40                                |
| Month 3  | $168710.06               | $314310.98                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Virtus Real Estate Enhanced Core, LP                                         | Virtus Real Estate Enhanced Core, LP                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |      7855 | NS      | $10255141.15  | 3.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| GDIF US Hedged Feeder Fund LP                                                | GDIF US Hedged Feeder Fund LP                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |  13595898 | NS      | $15299464.02  | 4.80%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CBRE U.S. Logistics Partners, L.P.                                           | CBRE U.S. Logistics Partners, L.P.                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |  13926549 | NS      | $18881657.27  | 5.93%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Nuveen Global Timberland Fund, L.P.                                          | Nuveen Global Timberland Fund, L.P.                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |      4884 | NS      | $4985660.43   | 1.56%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Targa Resources Corp.                                                        | Targa Resources Corp.                                                        | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      5065 | NS      | $881715.20    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Welltower Inc.                                                               | Welltower Inc.                                                               | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |     40742 | NS      | $6263267.66   | 1.97%             |  |  |  | No            | 1                  | On Loan: No      |
| XCEL Energy Inc.                                                             | XCEL Energy Inc.                                                             | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     32780 | NS      | $2232318.00   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Grupo Aeroportuario Del Pacifico, S.A.B. de C.V.                             | Grupo Aeroportuario Del Pacifico, S.A.B. de C.V.                             | CUSIP: N/A<br>LEI: 4469000001BZ368XFI90       | Long             | EC               | CORP              | MX        |     74470 | NS      | $1704779.41   | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Evergy, Inc.                                                                 | Evergy, Inc.                                                                 | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     25392 | NS      | $1750270.56   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Eversource Energy                                                            | Eversource Energy                                                            | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |     22854 | NS      | $1453971.48   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Extra Space Storage Inc.                                                     | Extra Space Storage Inc.                                                     | CUSIP: 30225T102<br>LEI: 529900SDJHKRQWED6A16 | Long             | EC               | CORP              | US        |     15256 | NS      | $2249344.64   | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Healthcare Realty Trust Incorporated                                         | Healthcare Realty Trust Incorporated                                         | CUSIP: 42226K105<br>LEI: 549300CB86LH2IOKHH22 | Long             | EC               | CORP              | US        |     66239 | NS      | $1050550.54   | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Host Hotels & Resorts, Inc.                                                  | Host Hotels & Resorts, Inc.                                                  | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     81074 | NS      | $1245296.64   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Hudson Pacific Properties, Inc.                                              | Hudson Pacific Properties, Inc.                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     99890 | NS      | $272699.70    | 0.09%             |  |  |  | No            | 2                  | On Loan: No      |
| Invitation Homes Inc.                                                        | Invitation Homes Inc.                                                        | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68203 | NS      | $2237058.40   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Iron Mountain Incorporated                                                   | Iron Mountain Incorporated                                                   | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     15906 | NS      | $1631478.42   | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| JNL Government Money Market Fund                                             | JNL Government Money Market Fund                                             | CUSIP: 46628D437<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  35962955 | NS      | $35962955.33  | 11.29%            |  |  |  | No            | 1                  | On Loan: No      |
| Kilroy Realty Corporation                                                    | Kilroy Realty Corporation                                                    | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     14782 | NS      | $507170.42    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Kimco Realty OP, LLC                                                         | Kimco Realty OP, LLC                                                         | CUSIP: 49446R109<br>LEI: 549300EA7I6T15IBYS12 | Long             | EC               | CORP              | US        |     53556 | NS      | $1125747.12   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Kite Realty Naperville, LLC                                                  | Kite Realty Naperville, LLC                                                  | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24867 | NS      | $563237.55    | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Lineage, Inc.                                                                | Lineage, Inc.                                                                | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4737 | NS      | $206154.24    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| NextEra Energy, Inc.                                                         | NextEra Energy, Inc.                                                         | CUSIP: 65339F101<br>LEI: TWQ1WATU9P8ZBX9T3I54 | Long             | EC               | CORP              | US        |     18668 | NS      | $1295932.56   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| PG&E Corporation                                                             | PG&E Corporation                                                             | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     62986 | NS      | $878024.84    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| PACS Group, Inc.                                                             | PACS Group, Inc.                                                             | CUSIP: 69380Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10220 | NS      | $132042.40    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| ProLogis Inc.                                                                | ProLogis Inc.                                                                | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     34574 | NS      | $3634418.88   | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Public Storage Operating Company                                             | Public Storage Operating Company                                             | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |      5179 | NS      | $1519622.18   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| SBA Communications Corporation                                               | SBA Communications Corporation                                               | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     12638 | NS      | $2967907.92   | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| AES Corporation, The                                                         | AES Corporation, The                                                         | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |     23611 | NS      | $248387.72    | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Agree Realty Corporation                                                     | Agree Realty Corporation                                                     | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12379 | NS      | $904409.74    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| American Electric Power Company, Inc.                                        | American Electric Power Company, Inc.                                        | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     25079 | NS      | $2602197.04   | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| American Homes 4 Rent                                                        | American Homes 4 Rent                                                        | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     23018 | NS      | $830259.26    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| American Tower Corporation                                                   | American Tower Corporation                                                   | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     23397 | NS      | $5171204.94   | 1.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Americold Realty Trust, Inc.                                                 | Americold Realty Trust, Inc.                                                 | CUSIP: 03064D108<br>LEI: 549300R7N1V5YV8MWH02 | Long             | EC               | CORP              | US        |     30625 | NS      | $509293.75    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| BXP, Inc.                                                                    | BXP, Inc.                                                                    | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |      7804 | NS      | $526535.88    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Motiva Infraestrutura De Mobilidade S.A.                                     | Motiva Infraestrutura De Mobilidade S.A.                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    442612 | NS      | $1128301.74   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Flughafen Zurich AG                                                          | Flughafen Zurich AG                                                          | CUSIP: N/A<br>LEI: 529900PFO97GCN5SYB55       | Long             | EC               | CORP              | CH        |      6091 | NS      | $1735017.92   | 0.54%             |  |  |  | No            | 2                  | On Loan: No      |
| Atlas Arteria Limited                                                        | Atlas Arteria Limited                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    355743 | NS      | $1192653.45   | 0.37%             |  |  |  | No            | 2                  | On Loan: No      |
| Infrastrutture Wireless Italiane S.p.A. O, In Forma Abbreviata, Inwit S.p.A. | Infrastrutture Wireless Italiane S.p.A. O, In Forma Abbreviata, Inwit S.p.A. | CUSIP: N/A<br>LEI: 81560066183FE361C071       | Long             | EC               | CORP              | IT        |     52517 | NS      | $642405.62    | 0.20%             |  |  |  | Yes           | 2                  | On Loan: No      |
| Kayne Anderson Core Intermediate Fund, L.P.                                  | Kayne Anderson Core Intermediate Fund, L.P.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |  18500000 | NS      | $18784234.00  | 5.90%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Kayne Commercial Real Estate Debt, L.P.                                      | Kayne Commercial Real Estate Debt, L.P.                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |  10250000 | NS      | $10428216.75  | 3.27%             |  |  |  | Yes           | N/A                | On Loan: No      |
| PRISA III Fund LP                                                            | PRISA III Fund LP                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |      6007 | NS      | $17669468.69  | 5.55%             |  |  |  | Yes           | N/A                | On Loan: No      |
| PRISA III Fund LP                                                            | PRISA III Fund LP                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |   4939325 | NS      | $4939325.00   | 1.55%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Harrison Street Core Property Fund, L.P.                                     | Harrison Street Core Property Fund, L.P.                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |     12462 | NS      | $17901261.70  | 5.62%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CBRE U.S. Core Partners, L.P.                                                | CBRE U.S. Core Partners, L.P.                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |   4539622 | NS      | $6927781.11   | 2.17%             |  |  |  | Yes           | N/A                | On Loan: No      |
| PGIM Real Estate U.S. Debt Fund, L.P.                                        | PGIM Real Estate U.S. Debt Fund, L.P.                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |      4181 | NS      | $6748864.00   | 2.12%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CrossHarbor Strategic Debt Fund, LP                                          | CrossHarbor Strategic Debt Fund, LP                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |   7600777 | NS      | $7702642.37   | 2.42%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CrossHarbor Strategic Debt Fund, LP                                          | CrossHarbor Strategic Debt Fund, LP                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |   2674374 | NS      | $2674374.17   | 0.84%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Harrison Street Infrastructure Fund A, L.P.                                  | Harrison Street Infrastructure Fund A, L.P.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |     14857 | NS      | $20688928.27  | 6.49%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Nuveen Global Farmland Fund Lux SCSp                                         | Nuveen Global Farmland Fund Lux SCSp                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |   3900590 | NS      | $3900589.77   | 1.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Boyd Gaming Corporation                                                      | Boyd Gaming Corporation                                                      | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |      7617 | NS      | $595877.91    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| CSX Corporation                                                              | CSX Corporation                                                              | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |     58524 | NS      | $1909638.12   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Caesars Entertainment, Inc.                                                  | Caesars Entertainment, Inc.                                                  | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     22218 | NS      | $630769.02    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Caretrust REIT, Inc.                                                         | Caretrust REIT, Inc.                                                         | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |     12179 | NS      | $372677.40    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Cheniere Energy, Inc.                                                        | Cheniere Energy, Inc.                                                        | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      8856 | NS      | $2156613.12   | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Crown Castle Inc.                                                            | Crown Castle Inc.                                                            | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     49165 | NS      | $5050720.45   | 1.59%             |  |  |  | No            | 1                  | On Loan: No      |
| DT Midstream, Inc.                                                           | DT Midstream, Inc.                                                           | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4789 | NS      | $526358.99    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Promotora y Operadora de Infraestructura, S.A.B. de C.V.                     | Promotora y Operadora de Infraestructura, S.A.B. de C.V.                     | CUSIP: N/A<br>LEI: 52990035X6RK8DBUWA73       | Long             | EC               | CORP              | MX        |     89750 | NS      | $1011836.85   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Digital Realty Trust, Inc.                                                   | Digital Realty Trust, Inc.                                                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     27007 | NS      | $4708130.31   | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Dominion Energy, Inc.                                                        | Dominion Energy, Inc.                                                        | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     28562 | NS      | $1614324.24   | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Duke Energy Corporation                                                      | Duke Energy Corporation                                                      | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     22470 | NS      | $2651460.00   | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Equinix, Inc.                                                                | Equinix, Inc.                                                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      2534 | NS      | $2015720.98   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Essex Property Trust, Inc.                                                   | Essex Property Trust, Inc.                                                   | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      6367 | NS      | $1804407.80   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Highwoods Properties, Inc.                                                   | Highwoods Properties, Inc.                                                   | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     28528 | NS      | $886935.52    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Hudson Pacific Properties, Inc.                                              | Hudson Pacific Properties, Inc.                                              | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56833 | NS      | $155722.42    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| RWE Aktiengesellschaft                                                       | RWE Aktiengesellschaft                                                       | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |     27225 | NS      | $1137803.39   | 0.36%             |  |  |  | No            | 2                  | On Loan: No      |
| Lamar Advertising Company                                                    | Lamar Advertising Company                                                    | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      3343 | NS      | $405706.48    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Transurban Holdings Limited                                                  | Transurban Holdings Limited                                                  | CUSIP: N/A<br>LEI: 549300ZR71SUQ4VUTM79       | Long             | EC               | CORP              | AU        |    291066 | NS      | $2676937.30   | 0.84%             |  |  |  | No            | 2                  | On Loan: No      |
| Beijing Capital International Airport Co., Ltd.                              | Beijing Capital International Airport Co., Ltd.                              | CUSIP: N/A<br>LEI: 5299001QWQN7CK66FE04       | Long             | EC               | CORP              | CN        |   1574000 | NS      | $595165.67    | 0.19%             |  |  |  | No            | 2                  | On Loan: No      |
| ENN energy Holdings Limited                                                  | ENN energy Holdings Limited                                                  | CUSIP: N/A<br>LEI: 549300V7BXPWT6WIPR03       | Long             | EC               | CORP              | KY        |     89000 | NS      | $716758.20    | 0.22%             |  |  |  | No            | 2                  | On Loan: No      |
| Japan Airport Terminal Co., Ltd.                                             | Japan Airport Terminal Co., Ltd.                                             | CUSIP: N/A<br>LEI: 353800W9WEQSGUY2EO26       | Long             | EC               | CORP              | JP        |     27300 | NS      | $870660.42    | 0.27%             |  |  |  | No            | 2                  | On Loan: No      |
| Norfolk Southern Corporation                                                 | Norfolk Southern Corporation                                                 | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |      9161 | NS      | $2344941.17   | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Omega Healthcare Investors, Inc.                                             | Omega Healthcare Investors, Inc.                                             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     10441 | NS      | $382662.65    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| ONEOK, Inc.                                                                  | ONEOK, Inc.                                                                  | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     27402 | NS      | $2236825.26   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| West Japan Railway Company                                                   | West Japan Railway Company                                                   | CUSIP: N/A<br>LEI: 353800QGUXHZ7EBCR121       | Long             | EC               | CORP              | JP        |     29100 | NS      | $666846.97    | 0.21%             |  |  |  | No            | 2                  | On Loan: No      |
| Public Service Enterprise Group Incorporated                                 | Public Service Enterprise Group Incorporated                                 | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |     16813 | NS      | $1415318.34   | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Realty Income Corporation                                                    | Realty Income Corporation                                                    | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     17907 | NS      | $1031622.27   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Hera S.p.A.                                                                  | Hera S.p.A.                                                                  | CUSIP: N/A<br>LEI: 8156009414FD99443B48       | Long             | EC               | CORP              | IT        |    181485 | NS      | $877471.59    | 0.28%             |  |  |  | No            | 2                  | On Loan: No      |
| Sempra                                                                       | Sempra                                                                       | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     26915 | NS      | $2039349.55   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Simon Property Group, Inc.                                                   | Simon Property Group, Inc.                                                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     12581 | NS      | $2022521.56   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Sun Communities, Inc.                                                        | Sun Communities, Inc.                                                        | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     18327 | NS      | $2318182.23   | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| UDR, Inc.                                                                    | UDR, Inc.                                                                    | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     31096 | NS      | $1269649.68   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| UGI Corporation                                                              | UGI Corporation                                                              | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     17294 | NS      | $629847.48    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| VICI Properties Inc.                                                         | VICI Properties Inc.                                                         | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     24758 | NS      | $807110.80    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Weyerhaeuser Company                                                         | Weyerhaeuser Company                                                         | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |     74592 | NS      | $1916268.48   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Aeroports de Paris                                                           | Aeroports de Paris                                                           | CUSIP: N/A<br>LEI: 969500PJMBSFHYC37989       | Long             | EC               | CORP              | FR        |      7629 | NS      | $957599.31    | 0.30%             |  |  |  | No            | 2                  | On Loan: No      |
| Severn Trent PLC                                                             | Severn Trent PLC                                                             | CUSIP: N/A<br>LEI: 213800RPBXRETY4A4C59       | Long             | EC               | CORP              | GB        |     36026 | NS      | $1352353.45   | 0.42%             |  |  |  | No            | 2                  | On Loan: No      |
| VINCI                                                                        | VINCI                                                                        | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |      6965 | NS      | $1027546.87   | 0.32%             |  |  |  | No            | 2                  | On Loan: No      |
| Getlink S.E.                                                                 | Getlink S.E.                                                                 | CUSIP: N/A<br>LEI: 9695007ZEQ7M0OE74G82       | Long             | EC               | CORP              | FR        |    104219 | NS      | $2010938.64   | 0.63%             |  |  |  | No            | 2                  | On Loan: No      |
| National Grid PLC                                                            | National Grid PLC                                                            | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |    172467 | NS      | $2523947.56   | 0.79%             |  |  |  | No            | 2                  | On Loan: No      |
| Canadian Pacific Kansas City Limited                                         | Canadian Pacific Kansas City Limited                                         | CUSIP: 13646K108<br>LEI: 54930036474DURYNB481 | Long             | EC               | CORP              | CA        |     21300 | NS      | $1692112.36   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| China Tower Corporation Limited                                              | China Tower Corporation Limited                                              | CUSIP: N/A<br>LEI: 300300T6BNNP0L7O7H91       | Long             | EC               | CORP              | CN        |    511964 | NS      | $732991.88    | 0.23%             |  |  |  | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** Jackson Real Assets Fund

**Signature:** Andrew Tedeschi

**Name of Signer:** Andrew Tedeschi

**Title:** Principal Financial Officer