# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0002071691-25-001891
**Filing Date:** 2025-9
**Character Count:** 899596
**Document Hash:** 7657efe71eee12f971f66cd768662940
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-001891.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0002071691-25-001891

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21295
- **FILM NUMBER:** 251341910

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

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

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

## Series and Classes Contracts Data

### JPMorgan Global Allocation Fund (Series ID: S000031462)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000097802 | Class A      | GAOAX           |
| C000097803 | Class C      | GAOCX           |
| C000097804 | Class I      | GAOSX           |
| C000097805 | Class R2     | GAONX           |
| C000195049 | Class R6     | GAOZX           |
| C000205203 | Class R5     | GAORX           |
| C000205204 | Class R4     | GAOFX           |
| C000205205 | Class R3     | GAOTX           |

## Nport-Ex

**JPMorgan Global Allocation Fund**

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

**(Unaudited)** 

---

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

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** <br>**(000)**<br>| **VALUE** <br>**($000)**<br>|
| **Common Stocks — 49.4%** | **Common Stocks — 49.4%** | **Common Stocks — 49.4%** |
| **Australia — 0.5%** | **Australia — 0.5%** | **Australia — 0.5%** |
| &nbsp;&nbsp;&nbsp; ANZ Group Holdings Ltd. | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 518 |
| &nbsp;&nbsp;&nbsp; APA Group | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp; Aristocrat Leisure Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp; ASX Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; BHP Group Ltd. | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 1140 |
| &nbsp;&nbsp;&nbsp; BlueScope Steel Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Brambles Ltd. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp; CAR Group Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp; Cochlear Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp; Coles Group Ltd. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 1689 |
| &nbsp;&nbsp;&nbsp; Computershare Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp; Evolution Mining Ltd. | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp; Fortescue Ltd. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp; Glencore plc | &nbsp;&nbsp; 91 | &nbsp;&nbsp; 366 |
| &nbsp;&nbsp;&nbsp; Goodman Group, REIT | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp; Insurance Australia Group Ltd. | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp; Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp; Macquarie Group Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 446 |
| &nbsp;&nbsp;&nbsp; Medibank Pvt Ltd. | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp; National Australia Bank Ltd. | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp; Northern Star Resources Ltd. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp; Origin Energy Ltd. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp; Pro Medicus Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp; Qantas Airways Ltd. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; QBE Insurance Group Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp; REA Group Ltd. | &nbsp;&nbsp; — | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp; Reece Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp; Rio Tinto Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp; Rio Tinto plc | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 597 |
| &nbsp;&nbsp;&nbsp; Santos Ltd. | &nbsp;&nbsp; 29 | &nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; Scentre Group, REIT | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; SGH Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Sigma Healthcare Ltd. | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Sonic Healthcare Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp; South32 Ltd. | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; Stockland, REIT | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Suncorp Group Ltd. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp; Telstra Group Ltd. | &nbsp;&nbsp; 587 | &nbsp;&nbsp; 1872 |
| &nbsp;&nbsp;&nbsp; Transurban Group | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp; Vicinity Ltd., REIT | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp; Washington H Soul Pattinson & Co. Ltd. (a) | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Wesfarmers Ltd. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 552 |
| &nbsp;&nbsp;&nbsp; Westpac Banking Corp. | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 657 |
| &nbsp;&nbsp;&nbsp; WiseTech Global Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 135 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Australia — continued** | **Australia — continued** | **Australia — continued** |
| &nbsp;&nbsp;&nbsp; Woodside Energy Group Ltd. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp; Woolworths Group Ltd. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 219 |
|  |  | &nbsp;&nbsp; 13172 |
| **Austria — 0.0% ^** | **Austria — 0.0% ^** | **Austria — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Erste Group Bank AG | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; Mondi plc | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; OMV AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp; Verbund AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 45 |
|  |  | &nbsp;&nbsp; 415 |
| **Belgium — 0.1%** | **Belgium — 0.1%** | **Belgium — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ageas SA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch InBev SA | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 505 |
| &nbsp;&nbsp;&nbsp; D'ieteren Group | &nbsp;&nbsp; — | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp; Elia Group SA/NV (a) | &nbsp;&nbsp; — | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp; KBC Group NV | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 2709 |
| &nbsp;&nbsp;&nbsp; Lotus Bakeries NV (a) | &nbsp;&nbsp; — | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp; Sofina SA | &nbsp;&nbsp; — | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp; Syensqo SA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; UCB SA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 242 |
|  |  | &nbsp;&nbsp; 3822 |
| **Brazil — 0.3%** | **Brazil — 0.3%** | **Brazil — 0.3%** |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp; 356 | &nbsp;&nbsp; 798 |
| &nbsp;&nbsp;&nbsp; Banco BTG Pactual SA | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp; Banco do Brasil SA | &nbsp;&nbsp; 132 | &nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp; Banco Santander Brasil SA | &nbsp;&nbsp; 138 | &nbsp;&nbsp; 649 |
| &nbsp;&nbsp;&nbsp; Localiza Rent a Car SA | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc. \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 2058 |
| &nbsp;&nbsp;&nbsp; Motiva Infraestrutura de Mobilidade SA | &nbsp;&nbsp; 215 | &nbsp;&nbsp; 473 |
| &nbsp;&nbsp;&nbsp; NU Holdings Ltd., Class A \* | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 504 |
| &nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA (Preference) | &nbsp;&nbsp; 222 | &nbsp;&nbsp; 1291 |
| &nbsp;&nbsp;&nbsp; Raia Drogasil SA | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp; Suzano SA | &nbsp;&nbsp; 39 | &nbsp;&nbsp; 366 |
| &nbsp;&nbsp;&nbsp; Telefonica Brasil SA | &nbsp;&nbsp; 126 | &nbsp;&nbsp; 708 |
| &nbsp;&nbsp;&nbsp; Yara International ASA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 54 |
|  |  | &nbsp;&nbsp; 8321 |
| **Canada — 0.3%** | **Canada — 0.3%** | **Canada — 0.3%** |
| &nbsp;&nbsp;&nbsp; Alimentation Couche-Tard, Inc. | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 1650 |
| &nbsp;&nbsp;&nbsp; Intact Financial Corp. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 1832 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 2030 |
| &nbsp;&nbsp;&nbsp; Shopify, Inc., Class A \* | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 1121 |
| &nbsp;&nbsp;&nbsp; WSP Global, Inc. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 1136 |
|  |  | &nbsp;&nbsp; 7769 |
| **Chile — 0.0% ^** | **Chile — 0.0% ^** | **Chile — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Antofagasta plc | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 87 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **China — 2.1%** | **China — 2.1%** | **China — 2.1%** |
| &nbsp;&nbsp;&nbsp; Airtac International Group | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 647 |
| &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd., ADR | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 311 |
| &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. | &nbsp;&nbsp; 438 | &nbsp;&nbsp; 6589 |
| &nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp; BYD Co. Ltd., Class H | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp; China CITIC Bank Corp. Ltd., Class H | &nbsp;&nbsp; 717 | &nbsp;&nbsp; 666 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., Class H | &nbsp;&nbsp; 1261 | &nbsp;&nbsp; 1290 |
| &nbsp;&nbsp;&nbsp; China International Capital Corp. Ltd., Class H (b) | &nbsp;&nbsp; 228 | &nbsp;&nbsp; 580 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd., Class A | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 1199 |
| &nbsp;&nbsp;&nbsp; China Resources Power Holdings Co. Ltd. | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 372 |
| &nbsp;&nbsp;&nbsp; China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp; 142 | &nbsp;&nbsp; 550 |
| &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co. Ltd., Class A | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 884 |
| &nbsp;&nbsp;&nbsp; ENN Energy Holdings Ltd. | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 534 |
| &nbsp;&nbsp;&nbsp; Full Truck Alliance Co. Ltd., ADR | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd., Class H (b) | &nbsp;&nbsp; 91 | &nbsp;&nbsp; 655 |
| &nbsp;&nbsp;&nbsp; H World Group Ltd. | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp; Haidilao International Holding Ltd. (b) | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 351 |
| &nbsp;&nbsp;&nbsp; Inner Mongolia Yili Industrial Group Co. Ltd., Class A | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 337 |
| &nbsp;&nbsp;&nbsp; Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 914 |
| &nbsp;&nbsp;&nbsp; KE Holdings, Inc., Class A | &nbsp;&nbsp; 159 | &nbsp;&nbsp; 975 |
| &nbsp;&nbsp;&nbsp; Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 512 |
| &nbsp;&nbsp;&nbsp; Lenovo Group Ltd. | &nbsp;&nbsp; 404 | &nbsp;&nbsp; 518 |
| &nbsp;&nbsp;&nbsp; Meituan \* (b) | &nbsp;&nbsp; 57 | &nbsp;&nbsp; 881 |
| &nbsp;&nbsp;&nbsp; Midea Group Co. Ltd., Class A | &nbsp;&nbsp; 81 | &nbsp;&nbsp; 788 |
| &nbsp;&nbsp;&nbsp; NetEase, Inc. | &nbsp;&nbsp; 69 | &nbsp;&nbsp; 1791 |
| &nbsp;&nbsp;&nbsp; Nongfu Spring Co. Ltd., Class H (b) | &nbsp;&nbsp; 139 | &nbsp;&nbsp; 803 |
| &nbsp;&nbsp;&nbsp; PDD Holdings, Inc., ADR \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 500 |
| &nbsp;&nbsp;&nbsp; PetroChina Co. Ltd., Class H | &nbsp;&nbsp; 750 | &nbsp;&nbsp; 733 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp; 177 | &nbsp;&nbsp; 1215 |
| &nbsp;&nbsp;&nbsp; Prosus NV | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 664 |
| &nbsp;&nbsp;&nbsp; Silergy Corp. | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp; SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. | &nbsp;&nbsp; 294 | &nbsp;&nbsp; 20591 |
| &nbsp;&nbsp;&nbsp; Tencent Music Entertainment Group, ADR | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 715 |
| &nbsp;&nbsp;&nbsp; Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp; Wilmar International Ltd. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp; XCMG Construction Machinery Co. Ltd., Class A | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp; Xiaomi Corp., Class B \* (b) | &nbsp;&nbsp; 231 | &nbsp;&nbsp; 1551 |
| &nbsp;&nbsp;&nbsp; Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; Yum China Holdings, Inc. | &nbsp;&nbsp; 159 | &nbsp;&nbsp; 7435 |
| &nbsp;&nbsp;&nbsp; Yum China Holdings, Inc. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 806 |
| &nbsp;&nbsp;&nbsp; Zijin Mining Group Co. Ltd., Class H | &nbsp;&nbsp; 302 | &nbsp;&nbsp; 801 |
| &nbsp;&nbsp;&nbsp; ZTO Express Cayman, Inc. | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 385 |
|  |  | &nbsp;&nbsp; 59805 |
| **Denmark — 0.2%** | **Denmark — 0.2%** | **Denmark — 0.2%** |
| &nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; — | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S, Class B | &nbsp;&nbsp; — | &nbsp;&nbsp; 73 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Denmark — continued** | **Denmark — continued** | **Denmark — continued** |
| &nbsp;&nbsp;&nbsp; Carlsberg A/S, Class B (a) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp; Coloplast A/S, Class B | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp; Demant A/S \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp; DSV A/S | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 407 |
| &nbsp;&nbsp;&nbsp; Genmab A/S \* | &nbsp;&nbsp; — | &nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp; Novo Nordisk A/S, Class B | &nbsp;&nbsp; 101 | &nbsp;&nbsp; 4684 |
| &nbsp;&nbsp;&nbsp; Novonesis Novozymes B | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp; Orsted A/S \* (a) (b) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; Pandora A/S | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp; ROCKWOOL A/S, Class B | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp; Tryg A/S (a) | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp; Vestas Wind Systems A/S | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 164 |
|  |  | &nbsp;&nbsp; 6485 |
| **Finland — 0.1%** | **Finland — 0.1%** | **Finland — 0.1%** |
| &nbsp;&nbsp;&nbsp; Elisa OYJ | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; Fortum OYJ | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp; Kesko OYJ, Class B | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; Kone OYJ, Class B | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp; Metso OYJ | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp; Neste OYJ | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Nokia OYJ | &nbsp;&nbsp; 47 | &nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp; Orion OYJ, Class B | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; Sampo OYJ, Class A | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; Stora Enso OYJ, Class R (a) | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; UPM-Kymmene OYJ | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 124 |
|  |  | &nbsp;&nbsp; 1713 |
| **France — 1.9%** | **France — 1.9%** | **France — 1.9%** |
| &nbsp;&nbsp;&nbsp; Accor SA | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp; Aeroports de Paris SA (a) | &nbsp;&nbsp; — | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp; Air Liquide SA | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 4548 |
| &nbsp;&nbsp;&nbsp; Airbus SE | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 2448 |
| &nbsp;&nbsp;&nbsp; Alstom SA \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp; Amundi SA (b) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp; Arkema SA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp; AXA SA | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 765 |
| &nbsp;&nbsp;&nbsp; BioMerieux | &nbsp;&nbsp; — | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 825 |
| &nbsp;&nbsp;&nbsp; Bollore SE | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp; Bouygues SA | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp; Bureau Veritas SA | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp; Capgemini SE | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp; Carrefour SA | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp; Cie de Saint-Gobain SA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 458 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **France — continued** | **France — continued** | **France — continued** |
| &nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 182 | &nbsp;&nbsp; 6469 |
| &nbsp;&nbsp;&nbsp; Covivio SA, REIT | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp; Danone SA | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp; Dassault Aviation SA | &nbsp;&nbsp; — | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp; Dassault Systemes SE | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp; Edenred SE | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp; Eiffage SA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp; Engie SA | &nbsp;&nbsp; 91 | &nbsp;&nbsp; 2054 |
| &nbsp;&nbsp;&nbsp; EssilorLuxottica SA | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 786 |
| &nbsp;&nbsp;&nbsp; Eurazeo SE | &nbsp;&nbsp; — | &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp; FDJ UNITED (b) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp; Gecina SA, REIT | &nbsp;&nbsp; — | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp; Getlink SE | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; Hermes International SCA | &nbsp;&nbsp; — | &nbsp;&nbsp; 690 |
| &nbsp;&nbsp;&nbsp; Ipsen SA | &nbsp;&nbsp; — | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; Kering SA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp; Klepierre SA, REIT | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp; Legrand SA | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 3218 |
| &nbsp;&nbsp;&nbsp; L'Oreal SA | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 946 |
| &nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 8734 |
| &nbsp;&nbsp;&nbsp; Orange SA | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; Pernod Ricard SA | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 4072 |
| &nbsp;&nbsp;&nbsp; Publicis Groupe SA | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp; Renault SA | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Rexel SA | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp; Safran SA | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 12327 |
| &nbsp;&nbsp;&nbsp; Sartorius Stedim Biotech | &nbsp;&nbsp; — | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp; Sodexo SA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; Teleperformance SE | &nbsp;&nbsp; — | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; Thales SA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 1080 |
| &nbsp;&nbsp;&nbsp; Unibail-Rodamco-Westfield, REIT | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp; Veolia Environnement SA | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp; Vinci SA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 611 |
|  |  | &nbsp;&nbsp; 53947 |
| **Germany — 1.7%** | **Germany — 1.7%** | **Germany — 1.7%** |
| &nbsp;&nbsp;&nbsp; adidas AG | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 290 |
| &nbsp;&nbsp;&nbsp; Allianz SE (Registered) | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1357 |
| &nbsp;&nbsp;&nbsp; BASF SE | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp; Bayer AG (Registered) | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG (Preference) | &nbsp;&nbsp; — | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; Beiersdorf AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp; Brenntag SE (a) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; Commerzbank AG | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 288 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Germany — continued** | **Germany — continued** | **Germany — continued** |
| &nbsp;&nbsp;&nbsp; Continental AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Covestro AG \* (b) | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp; CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Daimler Truck Holding AG | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Registered) | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 542 |
| &nbsp;&nbsp;&nbsp; Deutsche Boerse AG | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 3727 |
| &nbsp;&nbsp;&nbsp; Deutsche Lufthansa AG (Registered) | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; Deutsche Post AG | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 382 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom AG (Registered) | &nbsp;&nbsp; 76 | &nbsp;&nbsp; 2740 |
| &nbsp;&nbsp;&nbsp; Dr Ing hc F Porsche AG (Preference) (b) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; E.ON SE | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp; Evonik Industries AG | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; Fresenius Medical Care AG | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; Fresenius SE & Co. KGaA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp; GEA Group AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; Hannover Rueck SE | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp; Heidelberg Materials AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA (Preference) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp; Infineon Technologies AG | &nbsp;&nbsp; 57 | &nbsp;&nbsp; 2229 |
| &nbsp;&nbsp;&nbsp; Knorr-Bremse AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp; LEG Immobilien SE | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Group AG | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp; Merck KGaA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp; MTU Aero Engines AG | &nbsp;&nbsp; — | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 14197 |
| &nbsp;&nbsp;&nbsp; Nemetschek SE | &nbsp;&nbsp; — | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Porsche Automobil Holding SE (Preference) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Rational AG | &nbsp;&nbsp; — | &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp; Rheinmetall AG | &nbsp;&nbsp; — | &nbsp;&nbsp; 786 |
| &nbsp;&nbsp;&nbsp; RWE AG | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; SAP SE | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 2655 |
| &nbsp;&nbsp;&nbsp; Sartorius AG (Preference) (a) | &nbsp;&nbsp; — | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Scout24 SE (b) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp; Siemens AG (Registered) | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 11689 |
| &nbsp;&nbsp;&nbsp; Siemens Energy AG \* | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 699 |
| &nbsp;&nbsp;&nbsp; Siemens Healthineers AG (b) | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp; Symrise AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp; Talanx AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Volkswagen AG (Preference) | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp; Vonovia SE | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp; Zalando SE \* (b) | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 58 |
|  |  | &nbsp;&nbsp; 46831 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Greece — 0.1%** | **Greece — 0.1%** | **Greece — 0.1%** |
| &nbsp;&nbsp;&nbsp; National Bank of Greece SA | &nbsp;&nbsp; 156 | &nbsp;&nbsp; 2172 |
| &nbsp;&nbsp;&nbsp; Piraeus Financial Holdings SA | &nbsp;&nbsp; 113 | &nbsp;&nbsp; 872 |
|  |  | &nbsp;&nbsp; 3044 |
| **Guatemala — 0.0% ^** | **Guatemala — 0.0% ^** | **Guatemala — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Millicom International Cellular SA | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 420 |
| **Hong Kong — 0.6%** | **Hong Kong — 0.6%** | **Hong Kong — 0.6%** |
| &nbsp;&nbsp;&nbsp; AIA Group Ltd. | &nbsp;&nbsp; 646 | &nbsp;&nbsp; 6025 |
| &nbsp;&nbsp;&nbsp; CK Asset Holdings Ltd. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; CLP Holdings Ltd. | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp; Futu Holdings Ltd., ADR | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Hang Seng Bank Ltd. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp; Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; HKT Trust & HKT Ltd. | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp; Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 99 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 138 | &nbsp;&nbsp; 7458 |
| &nbsp;&nbsp;&nbsp; Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Link, REIT | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp; MTR Corp. Ltd. | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Power Assets Holdings Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp; Prudential plc | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp; Sino Land Co. Ltd. | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp; Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp; Swire Pacific Ltd., Class A | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp; Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 556 |
| &nbsp;&nbsp;&nbsp; WH Group Ltd. (b) | &nbsp;&nbsp; 74 | &nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp; Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 48 |
|  |  | &nbsp;&nbsp; 15681 |
| **Hungary — 0.0% ^** | **Hungary — 0.0% ^** | **Hungary — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; OTP Bank Nyrt. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 893 |
| **India — 0.8%** | **India — 0.8%** | **India — 0.8%** |
| &nbsp;&nbsp;&nbsp; Axis Bank Ltd. | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 794 |
| &nbsp;&nbsp;&nbsp; Axis Bank Ltd., GDR (b) | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp; Bajaj Finance Ltd. | &nbsp;&nbsp; 103 | &nbsp;&nbsp; 1032 |
| &nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp; Biocon Ltd. | &nbsp;&nbsp; 124 | &nbsp;&nbsp; 553 |
| &nbsp;&nbsp;&nbsp; Blue Star Ltd. | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp; Coforge Ltd. | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 403 |
| &nbsp;&nbsp;&nbsp; Dr Reddy's Laboratories Ltd., ADR (a) | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 463 |
| &nbsp;&nbsp;&nbsp; Godrej Consumer Products Ltd. | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 597 |
| &nbsp;&nbsp;&nbsp; Havells India Ltd. | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp; HDFC Bank Ltd., ADR | &nbsp;&nbsp; 82 | &nbsp;&nbsp; 6320 |
| &nbsp;&nbsp;&nbsp; Hindalco Industries Ltd. | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 424 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **India — continued** | **India — continued** | **India — continued** |
| &nbsp;&nbsp;&nbsp; ICICI Bank Ltd., ADR | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 784 |
| &nbsp;&nbsp;&nbsp; Infosys Ltd., ADR (a) | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 1113 |
| &nbsp;&nbsp;&nbsp; ITC Ltd. | &nbsp;&nbsp; 96 | &nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 1535 |
| &nbsp;&nbsp;&nbsp; MakeMyTrip Ltd. \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp; Max Financial Services Ltd. \* | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 826 |
| &nbsp;&nbsp;&nbsp; NTPC Ltd. | &nbsp;&nbsp; 208 | &nbsp;&nbsp; 788 |
| &nbsp;&nbsp;&nbsp; PB Fintech Ltd. \* | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 474 |
| &nbsp;&nbsp;&nbsp; Reliance Industries Ltd., GDR (c) | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 2020 |
| &nbsp;&nbsp;&nbsp; Shriram Finance Ltd. | &nbsp;&nbsp; 97 | &nbsp;&nbsp; 694 |
| &nbsp;&nbsp;&nbsp; Tata Motors Ltd. | &nbsp;&nbsp; 74 | &nbsp;&nbsp; 556 |
| &nbsp;&nbsp;&nbsp; UltraTech Cement Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 732 |
|  |  | &nbsp;&nbsp; 22563 |
| **Indonesia — 0.1%** | **Indonesia — 0.1%** | **Indonesia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Bank Central Asia Tbk. PT | &nbsp;&nbsp; 5264 | &nbsp;&nbsp; 2638 |
| &nbsp;&nbsp;&nbsp; Bank Mandiri Persero Tbk. PT | &nbsp;&nbsp; 1823 | &nbsp;&nbsp; 496 |
| &nbsp;&nbsp;&nbsp; Telkom Indonesia Persero Tbk. PT | &nbsp;&nbsp; 5369 | &nbsp;&nbsp; 943 |
|  |  | &nbsp;&nbsp; 4077 |
| **Ireland — 0.1%** | **Ireland — 0.1%** | **Ireland — 0.1%** |
| &nbsp;&nbsp;&nbsp; AerCap Holdings NV | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 2193 |
| &nbsp;&nbsp;&nbsp; AIB Group plc | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group plc | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp; Kerry Group plc, Class A | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp; Kerry Group plc, Class A | &nbsp;&nbsp; — | &nbsp;&nbsp; 14 |
| &nbsp;&nbsp;&nbsp; Kingspan Group plc | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 1297 |
| &nbsp;&nbsp;&nbsp; Kingspan Group plc | &nbsp;&nbsp; — | &nbsp;&nbsp; 12 |
|  |  | &nbsp;&nbsp; 3902 |
| **Israel — 0.1%** | **Israel — 0.1%** | **Israel — 0.1%** |
| &nbsp;&nbsp;&nbsp; Azrieli Group Ltd. | &nbsp;&nbsp; — | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp; Bank Hapoalim BM | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp; Bank Leumi Le-Israel BM | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies Ltd. \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp; Elbit Systems Ltd. | &nbsp;&nbsp; — | &nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp; ICL Group Ltd. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp; Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp; Nice Ltd. \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Industries Ltd., ADR \* | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp; Wix.com Ltd. \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 64 |
|  |  | &nbsp;&nbsp; 1288 |
| **Italy — 0.3%** | **Italy — 0.3%** | **Italy — 0.3%** |
| &nbsp;&nbsp;&nbsp; Banca Mediolanum SpA | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp; Banco BPM SpA | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp; BPER Banca SpA (a) | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp; Coca-Cola HBC AG | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 101 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Italy — continued** | **Italy — continued** | **Italy — continued** |
| &nbsp;&nbsp;&nbsp; Davide Campari-Milano NV | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp; DiaSorin SpA | &nbsp;&nbsp; — | &nbsp;&nbsp; 19 |
| &nbsp;&nbsp;&nbsp; Enel SpA | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 638 |
| &nbsp;&nbsp;&nbsp; Eni SpA | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp; Ferrari NV | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 491 |
| &nbsp;&nbsp;&nbsp; FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp; Generali | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp; Infrastrutture Wireless Italiane SpA (b) | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | &nbsp;&nbsp; 135 | &nbsp;&nbsp; 810 |
| &nbsp;&nbsp;&nbsp; Leonardo SpA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp; Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp; Moncler SpA | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; Nexi SpA (b) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; Poste Italiane SpA (b) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp; Prysmian SpA | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp; Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Ryanair Holdings plc | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp; Snam SpA | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; Telecom Italia SpA \* (a) | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 3307 |
| &nbsp;&nbsp;&nbsp; Unipol Assicurazioni SpA | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 64 |
|  |  | &nbsp;&nbsp; 7789 |
| **Japan — 2.6%** | **Japan — 2.6%** | **Japan — 2.6%** |
| &nbsp;&nbsp;&nbsp; Advantest Corp. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 452 |
| &nbsp;&nbsp;&nbsp; Aeon Co. Ltd. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp; AGC, Inc. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Aisin Corp. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; Ajinomoto Co., Inc. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp; ANA Holdings, Inc. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp; Asahi Group Holdings Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp; Asahi Kasei Corp. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Asics Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; Astellas Pharma, Inc. | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp; Bandai Namco Holdings, Inc. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp; Bridgestone Corp. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp; Canon, Inc. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp; Capcom Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; Central Japan Railway Co. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp; Chiba Bank Ltd. (The) | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; Chubu Electric Power Co., Inc. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp; Concordia Financial Group Ltd. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp; Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp; Daifuku Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp; Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp; Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 375 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Japan — continued** | **Japan — continued** | **Japan — continued** |
| &nbsp;&nbsp;&nbsp; Daikin Industries Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp; Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp; Daiwa Securities Group, Inc. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp; Denso Corp. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 228 |
| &nbsp;&nbsp;&nbsp; Dentsu Group, Inc. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp; Disco Corp. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1153 |
| &nbsp;&nbsp;&nbsp; East Japan Railway Co. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; Eisai Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp; ENEOS Holdings, Inc. | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp; FANUC Corp. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp; Fast Retailing Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 519 |
| &nbsp;&nbsp;&nbsp; Fuji Electric Co. Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp; FUJIFILM Holdings Corp. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp; Fujikura Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; Fujitsu Ltd. | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp; Hankyu Hanshin Holdings, Inc. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Hikari Tsushin, Inc. | &nbsp;&nbsp; — | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp; Hitachi Ltd. | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 1245 |
| &nbsp;&nbsp;&nbsp; Honda Motor Co. Ltd. | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 388 |
| &nbsp;&nbsp;&nbsp; Hoshizaki Corp. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp; Hoya Corp. | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 2876 |
| &nbsp;&nbsp;&nbsp; Hulic Co. Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp; IHI Corp. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 1693 |
| &nbsp;&nbsp;&nbsp; Inpex Corp. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; Isuzu Motors Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp; ITOCHU Corp. | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 2192 |
| &nbsp;&nbsp;&nbsp; Japan Airlines Co. Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp; Japan Exchange Group, Inc. | &nbsp;&nbsp; 323 | &nbsp;&nbsp; 3155 |
| &nbsp;&nbsp;&nbsp; Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp; Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp; Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; Japan Tobacco, Inc. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp; JFE Holdings, Inc. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Kajima Corp. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Kansai Electric Power Co., Inc. (The) | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp; Kao Corp. | &nbsp;&nbsp; 39 | &nbsp;&nbsp; 1746 |
| &nbsp;&nbsp;&nbsp; Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; KDDI Corp. | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 448 |
| &nbsp;&nbsp;&nbsp; Keyence Corp. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 6294 |
| &nbsp;&nbsp;&nbsp; Kikkoman Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp; Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp; Komatsu Ltd. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp; Konami Group Corp. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp; Kubota Corp. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 98 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Japan — continued** | **Japan — continued** | **Japan — continued** |
| &nbsp;&nbsp;&nbsp; Kyocera Corp. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp; Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp; Lasertec Corp. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; LY Corp. | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; M3, Inc. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Makita Corp. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; Marubeni Corp. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp; MatsukiyoCocokara & Co. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp; MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp; MINEBEA MITSUMI, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Corp. | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 600 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Electric Corp. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp; Mitsubishi HC Capital, Inc. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 680 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp; 664 | &nbsp;&nbsp; 9150 |
| &nbsp;&nbsp;&nbsp; Mitsui & Co. Ltd. | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 448 |
| &nbsp;&nbsp;&nbsp; Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 217 | &nbsp;&nbsp; 1941 |
| &nbsp;&nbsp;&nbsp; Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 622 |
| &nbsp;&nbsp;&nbsp; MonotaRO Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp; Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp; NEC Corp. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 313 |
| &nbsp;&nbsp;&nbsp; Nexon Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; NIDEC Corp. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp; Nintendo Co. Ltd. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 819 |
| &nbsp;&nbsp;&nbsp; Nippon Building Fund, Inc., REIT | &nbsp;&nbsp; — | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp; Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; Nippon Steel Corp. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp; Nippon Yusen KK | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd. \* | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp; Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp; Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Nitto Denko Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp; Nomura Holdings, Inc. | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp; Nomura Research Institute Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp; NTT Data Group Corp. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; NTT, Inc. | &nbsp;&nbsp; 266 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp; Obayashi Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp; Obic Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp; Olympus Corp. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp; Omron Corp. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp; Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | &nbsp;&nbsp; — | &nbsp;&nbsp; 32 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Japan — continued** | **Japan — continued** | **Japan — continued** |
| &nbsp;&nbsp;&nbsp; Oriental Land Co. Ltd. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp; ORIX Corp. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; Osaka Gas Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp; Otsuka Corp. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp; Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp; Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp; Panasonic Holdings Corp. | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp; Rakuten Group, Inc. \* | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 742 |
| &nbsp;&nbsp;&nbsp; Renesas Electronics Corp. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp; Resona Holdings, Inc. | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp; Ricoh Co. Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp; Sanrio Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp; SBI Holdings, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; SCSK Corp. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; Secom Co. Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp; Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Sekisui House Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp; SG Holdings Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp; Shimadzu Corp. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp; Shimano, Inc. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 141 | &nbsp;&nbsp; 4060 |
| &nbsp;&nbsp;&nbsp; Shionogi & Co. Ltd. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp; Shiseido Co. Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp; SMC Corp. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; SoftBank Corp. | &nbsp;&nbsp; 254 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp; SoftBank Group Corp. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 649 |
| &nbsp;&nbsp;&nbsp; Sompo Holdings, Inc. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp; Sony Group Corp. | &nbsp;&nbsp; 404 | &nbsp;&nbsp; 9730 |
| &nbsp;&nbsp;&nbsp; Subaru Corp. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp; Sumitomo Corp. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp; Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 827 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp; Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp; Suzuki Motor Corp. | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp; Sysmex Corp. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp; T&D Holdings, Inc. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp; Taisei Corp. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 387 |
| &nbsp;&nbsp;&nbsp; TDK Corp. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp; Terumo Corp. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp; TIS, Inc. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 61 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Japan — continued** | **Japan — continued** | **Japan — continued** |
| &nbsp;&nbsp;&nbsp; Toho Co. Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Tokio Marine Holdings, Inc. | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 654 |
| &nbsp;&nbsp;&nbsp; Tokyo Electron Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 636 |
| &nbsp;&nbsp;&nbsp; Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp; Tokyo Metro Co. Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp; Tokyu Corp. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; TOPPAN Holdings, Inc. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp; Toray Industries, Inc. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Toyota Industries Corp. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. | &nbsp;&nbsp; 84 | &nbsp;&nbsp; 1498 |
| &nbsp;&nbsp;&nbsp; Toyota Tsusho Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp; Trend Micro, Inc. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp; Unicharm Corp. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; West Japan Railway Co. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp; Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp; Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Yokogawa Electric Corp. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; ZOZO, Inc. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 36 |
|  |  | &nbsp;&nbsp; 73774 |
| **Kazakhstan — 0.0% ^** | **Kazakhstan — 0.0% ^** | **Kazakhstan — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Kaspi.KZ JSC, ADR | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 381 |
| **Luxembourg — 0.0% ^** | **Luxembourg — 0.0% ^** | **Luxembourg — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; ArcelorMittal SA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp; CVC Capital Partners plc (b) | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp; Eurofins Scientific SE | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 81 |
|  |  | &nbsp;&nbsp; 247 |
| **Macau — 0.0% ^** | **Macau — 0.0% ^** | **Macau — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 107 | &nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp; Sands China Ltd. | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 52 |
|  |  | &nbsp;&nbsp; 574 |
| **Mexico — 0.1%** | **Mexico — 0.1%** | **Mexico — 0.1%** |
| &nbsp;&nbsp;&nbsp; Arca Continental SAB de CV | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 542 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Sureste SAB de CV, ADR | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 733 |
| &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 502 |
| &nbsp;&nbsp;&nbsp; Regional SAB de CV | &nbsp;&nbsp; 92 | &nbsp;&nbsp; 708 |
| &nbsp;&nbsp;&nbsp; Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp; 265 | &nbsp;&nbsp; 782 |
|  |  | &nbsp;&nbsp; 3267 |
| **Netherlands — 0.8%** | **Netherlands — 0.8%** | **Netherlands — 0.8%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV, CVA (b) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp; Adyen NV \* (b) | &nbsp;&nbsp; — | &nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp; Aegon Ltd. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Akzo Nobel NV | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Argenx SE \* | &nbsp;&nbsp; — | &nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp; ASM International NV | &nbsp;&nbsp; — | &nbsp;&nbsp; 202 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Netherlands — continued** | **Netherlands — continued** | **Netherlands — continued** |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 8533 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV (Registered), NYRS | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 538 |
| &nbsp;&nbsp;&nbsp; ASR Nederland NV | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp; BE Semiconductor Industries NV | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp; Euronext NV (b) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp; EXOR NV | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Heineken Holding NV | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp; Heineken NV | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 6041 |
| &nbsp;&nbsp;&nbsp; IMCD NV | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp; ING Groep NV | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 652 |
| &nbsp;&nbsp;&nbsp; JDE Peet's NV | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp; Koninklijke Philips NV | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp; NN Group NV | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 3865 |
| &nbsp;&nbsp;&nbsp; Randstad NV | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; Universal Music Group NV | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp; Wolters Kluwer NV | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 330 |
|  |  | &nbsp;&nbsp; 22915 |
| **New Zealand — 0.0% ^** | **New Zealand — 0.0% ^** | **New Zealand — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Auckland International Airport Ltd. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp; Contact Energy Ltd. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp; Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp; Infratil Ltd. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp; Meridian Energy Ltd. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; Xero Ltd. \* | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 167 |
|  |  | &nbsp;&nbsp; 480 |
| **Norway — 0.0% ^** | **Norway — 0.0% ^** | **Norway — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp; Equinor ASA | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; Kongsberg Gruppen ASA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp; Mowi ASA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; Norsk Hydro ASA | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp; Orkla ASA | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp; Salmar ASA (a) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp; Telenor ASA | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 84 |
|  |  | &nbsp;&nbsp; 949 |
| **Peru — 0.0% ^** | **Peru — 0.0% ^** | **Peru — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Credicorp Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1074 |
| **Philippines — 0.0% ^** | **Philippines — 0.0% ^** | **Philippines — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Bank of the Philippine Islands | &nbsp;&nbsp; 149 | &nbsp;&nbsp; 301 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Poland — 0.0% ^** | **Poland — 0.0% ^** | **Poland — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Dino Polska SA \* (b) | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 431 |
| &nbsp;&nbsp;&nbsp; InPost SA \* | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp; Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 568 |
|  |  | &nbsp;&nbsp; 1028 |
| **Portugal — 0.0% ^** | **Portugal — 0.0% ^** | **Portugal — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; EDP SA | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp; Galp Energia SGPS SA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; Jeronimo Martins SGPS SA | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 442 |
|  |  | &nbsp;&nbsp; 633 |
| **Qatar — 0.0% ^** | **Qatar — 0.0% ^** | **Qatar — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Qatar National Bank QPSC | &nbsp;&nbsp; 137 | &nbsp;&nbsp; 704 |
| **Russia — 0.0% ^** | **Russia — 0.0% ^** | **Russia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Severstal PAO, GDR ‡ \* (b) | &nbsp;&nbsp; 58 | &nbsp;&nbsp; — |
| **Saudi Arabia — 0.2%** | **Saudi Arabia — 0.2%** | **Saudi Arabia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Al Rajhi Bank | &nbsp;&nbsp; 144 | &nbsp;&nbsp; 3616 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co. (b) | &nbsp;&nbsp; 121 | &nbsp;&nbsp; 785 |
|  |  | &nbsp;&nbsp; 4401 |
| **Singapore — 0.4%** | **Singapore — 0.4%** | **Singapore — 0.4%** |
| &nbsp;&nbsp;&nbsp; CapitaLand Ascendas, REIT | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; CapitaLand Integrated Commercial Trust, REIT | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp; CapitaLand Investment Ltd. | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd. | &nbsp;&nbsp; 211 | &nbsp;&nbsp; 7751 |
| &nbsp;&nbsp;&nbsp; Genting Singapore Ltd. | &nbsp;&nbsp; 53 | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp; Grab Holdings Ltd., Class A \* | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp; Keppel Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp; Sea Ltd., ADR \* | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 1200 |
| &nbsp;&nbsp;&nbsp; Sembcorp Industries Ltd. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; Singapore Airlines Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp; Singapore Exchange Ltd. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; Singapore Telecommunications Ltd. | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp; STMicroelectronics NV | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp; United Overseas Bank Ltd. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 311 |
|  |  | &nbsp;&nbsp; 10724 |
| **South Africa — 0.1%** | **South Africa — 0.1%** | **South Africa — 0.1%** |
| &nbsp;&nbsp;&nbsp; Absa Group Ltd. | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 687 |
| &nbsp;&nbsp;&nbsp; Anglo American plc | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp; Capitec Bank Holdings Ltd. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 549 |
| &nbsp;&nbsp;&nbsp; Clicks Group Ltd. | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp; Gold Fields Ltd. | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 831 |
| &nbsp;&nbsp;&nbsp; Shoprite Holdings Ltd. | &nbsp;&nbsp; 29 | &nbsp;&nbsp; 429 |
|  |  | &nbsp;&nbsp; 3195 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **South Korea — 0.7%** | **South Korea — 0.7%** | **South Korea — 0.7%** |
| &nbsp;&nbsp;&nbsp; Delivery Hero SE \* (b) | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Hana Financial Group, Inc. | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 1122 |
| &nbsp;&nbsp;&nbsp; HD Hyundai Electric Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 615 |
| &nbsp;&nbsp;&nbsp; HL Mando Co. Ltd. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp; Hugel, Inc. \* | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp; Hyundai Glovis Co. Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp; JB Financial Group Co. Ltd. | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 562 |
| &nbsp;&nbsp;&nbsp; Kia Corp. | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 2966 |
| &nbsp;&nbsp;&nbsp; Korea Aerospace Industries Ltd. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 596 |
| &nbsp;&nbsp;&nbsp; KT Corp. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 464 |
| &nbsp;&nbsp;&nbsp; KT Corp., ADR | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp; POSCO Holdings, Inc. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 422 |
| &nbsp;&nbsp;&nbsp; Samsung Biologics Co. Ltd. \* (b) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 98 | &nbsp;&nbsp; 4973 |
| &nbsp;&nbsp;&nbsp; Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 734 |
| &nbsp;&nbsp;&nbsp; SK Hynix, Inc. | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 4925 |
| &nbsp;&nbsp;&nbsp; SK Telecom Co. Ltd. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 403 |
| &nbsp;&nbsp;&nbsp; SM Entertainment Co. Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 524 |
| &nbsp;&nbsp;&nbsp; S-Oil Corp. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 316 |
|  |  | &nbsp;&nbsp; 20420 |
| **Spain — 0.3%** | **Spain — 0.3%** | **Spain — 0.3%** |
| &nbsp;&nbsp;&nbsp; Acciona SA | &nbsp;&nbsp; — | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; Aena SME SA (b) | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp; Amadeus IT Group SA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 854 |
| &nbsp;&nbsp;&nbsp; Banco de Sabadell SA | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA | &nbsp;&nbsp; 135 | &nbsp;&nbsp; 1157 |
| &nbsp;&nbsp;&nbsp; Bankinter SA | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp; Cellnex Telecom SA (b) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp; EDP Renovaveis SA | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp; Endesa SA | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp; Grifols SA \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; Iberdrola SA | &nbsp;&nbsp; 141 | &nbsp;&nbsp; 2478 |
| &nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 463 |
| &nbsp;&nbsp;&nbsp; Redeia Corp. SA | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; Repsol SA | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp; Telefonica SA | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 169 |
|  |  | &nbsp;&nbsp; 6904 |
| **Sweden — 0.8%** | **Sweden — 0.8%** | **Sweden — 0.8%** |
| &nbsp;&nbsp;&nbsp; AddTech AB, Class B | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp; Alfa Laval AB | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp; Assa Abloy AB, Class B | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, Class A | &nbsp;&nbsp; 383 | &nbsp;&nbsp; 5831 |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, Class B | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 188 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Sweden — continued** | **Sweden — continued** | **Sweden — continued** |
| &nbsp;&nbsp;&nbsp; Beijer Ref AB | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp; Boliden AB \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; Epiroc AB, Class A | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp; Epiroc AB, Class B | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp; EQT AB | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; Essity AB, Class B | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp; Evolution AB (b) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp; Fastighets AB Balder, Class B \* | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp; H & M Hennes & Mauritz AB, Class B (a) | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; Hexagon AB, Class B | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp; Holmen AB, Class B | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; Industrivarden AB, Class A | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; Industrivarden AB, Class C | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Indutrade AB | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; Investment AB Latour, Class B | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp; Investor AB, Class B | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 446 |
| &nbsp;&nbsp;&nbsp; L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp; Lifco AB, Class B | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp; Nibe Industrier AB, Class B | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp; Saab AB, Class B | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp; Sagax AB, Class B | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp; Sandvik AB | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; Securitas AB, Class B | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp; Skanska AB, Class B | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; SKF AB, Class B | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp; Swedbank AB, Class A | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp; Swedish Orphan Biovitrum AB \* | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Tele2 AB, Class B | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp; Telia Co. AB (a) | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp; Trelleborg AB, Class B | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; Volvo AB, Class B | &nbsp;&nbsp; 389 | &nbsp;&nbsp; 11162 |
|  |  | &nbsp;&nbsp; 21224 |
| **Switzerland — 0.5%** | **Switzerland — 0.5%** | **Switzerland — 0.5%** |
| &nbsp;&nbsp;&nbsp; ABB Ltd. (Registered) | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 918 |
| &nbsp;&nbsp;&nbsp; Avolta AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp; Baloise Holding AG (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp; Banque Cantonale Vaudoise (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp; Barry Callebaut AG (Registered) (a) | &nbsp;&nbsp; — | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp; BKW AG | &nbsp;&nbsp; — | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG | &nbsp;&nbsp; — | &nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA (Registered) | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 780 |
| &nbsp;&nbsp;&nbsp; DSM-Firmenich AG | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 159 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Switzerland — continued** | **Switzerland — continued** | **Switzerland — continued** |
| &nbsp;&nbsp;&nbsp; EMS-Chemie Holding AG (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; Galderma Group AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp; Geberit AG (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 228 |
| &nbsp;&nbsp;&nbsp; Givaudan SA (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 343 |
| &nbsp;&nbsp;&nbsp; Helvetia Holding AG (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; Julius Baer Group Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp; Kuehne + Nagel International AG (Registered) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp; Logitech International SA (Registered) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp; Lonza Group AG (Registered) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2684 |
| &nbsp;&nbsp;&nbsp; Partners Group Holding AG | &nbsp;&nbsp; — | &nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp; Sandoz Group AG | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp; Schindler Holding AG | &nbsp;&nbsp; — | &nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp; Schindler Holding AG (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp; SGS SA (Registered) | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; SIG Group AG (a) | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; Sika AG (Registered) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp; Sonova Holding AG (Registered) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp; Straumann Holding AG (Registered) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp; Swatch Group AG (The) (a) | &nbsp;&nbsp; — | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp; Swiss Life Holding AG (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp; Swiss Prime Site AG (Registered) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; Swisscom AG (Registered) | &nbsp;&nbsp; — | &nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp; Temenos AG (Registered) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; UBS Group AG (Registered) | &nbsp;&nbsp; 130 | &nbsp;&nbsp; 4818 |
| &nbsp;&nbsp;&nbsp; VAT Group AG (b) | &nbsp;&nbsp; — | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 887 |
|  |  | &nbsp;&nbsp; 14101 |
| **Taiwan — 1.5%** | **Taiwan — 1.5%** | **Taiwan — 1.5%** |
| &nbsp;&nbsp;&nbsp; ASE Technology Holding Co. Ltd. | &nbsp;&nbsp; 251 | &nbsp;&nbsp; 1217 |
| &nbsp;&nbsp;&nbsp; ASPEED Technology, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp; Delta Electronics, Inc. | &nbsp;&nbsp; 69 | &nbsp;&nbsp; 1300 |
| &nbsp;&nbsp;&nbsp; E.Sun Financial Holding Co. Ltd. | &nbsp;&nbsp; 685 | &nbsp;&nbsp; 732 |
| &nbsp;&nbsp;&nbsp; MediaTek, Inc. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 333 |
| &nbsp;&nbsp;&nbsp; Quanta Computer, Inc. | &nbsp;&nbsp; 106 | &nbsp;&nbsp; 987 |
| &nbsp;&nbsp;&nbsp; Realtek Semiconductor Corp. | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 975 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 635 | &nbsp;&nbsp; 24438 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., ADR | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 9939 |
| &nbsp;&nbsp;&nbsp; Wiwynn Corp. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 859 |
| &nbsp;&nbsp;&nbsp; Yuanta Financial Holding Co. Ltd. | &nbsp;&nbsp; 456 | &nbsp;&nbsp; 473 |
|  |  | &nbsp;&nbsp; 41659 |
| **Turkey — 0.1%** | **Turkey — 0.1%** | **Turkey — 0.1%** |
| &nbsp;&nbsp;&nbsp; Akbank TAS | &nbsp;&nbsp; 267 | &nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp; BIM Birlesik Magazalar A/S | &nbsp;&nbsp; 69 | &nbsp;&nbsp; 904 |
|  |  | &nbsp;&nbsp; 1347 |
| **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** |
| &nbsp;&nbsp;&nbsp; ADNOC Drilling Co. PJSC | &nbsp;&nbsp; 259 | &nbsp;&nbsp; 411 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United Arab Emirates — continued** | **United Arab Emirates — continued** | **United Arab Emirates — continued** |
| &nbsp;&nbsp;&nbsp; Emaar Properties PJSC | &nbsp;&nbsp; 221 | &nbsp;&nbsp; 916 |
| &nbsp;&nbsp;&nbsp; NMC Health plc ‡ \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; —<br> (d)<br>|
|  |  | &nbsp;&nbsp; 1327 |
| **United Kingdom — 1.4%** | **United Kingdom — 1.4%** | **United Kingdom — 1.4%** |
| &nbsp;&nbsp;&nbsp; 3i Group plc | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 3391 |
| &nbsp;&nbsp;&nbsp; Admiral Group plc | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; Ashtead Group plc | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp; Associated British Foods plc | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; AstraZeneca plc | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 8727 |
| &nbsp;&nbsp;&nbsp; Auto Trader Group plc (b) | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp; Aviva plc | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp; BAE Systems plc | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 639 |
| &nbsp;&nbsp;&nbsp; Barclays plc | &nbsp;&nbsp; 127 | &nbsp;&nbsp; 621 |
| &nbsp;&nbsp;&nbsp; Barratt Redrow plc | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp; British American Tobacco plc | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 944 |
| &nbsp;&nbsp;&nbsp; BT Group plc | &nbsp;&nbsp; 53 | &nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; Bunzl plc | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp; Centrica plc | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp; CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners plc | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp; Compass Group plc | &nbsp;&nbsp; 63 | &nbsp;&nbsp; 2202 |
| &nbsp;&nbsp;&nbsp; Croda International plc | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp; DCC plc | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Diageo plc | &nbsp;&nbsp; 44 | &nbsp;&nbsp; 1076 |
| &nbsp;&nbsp;&nbsp; Entain plc | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp; Flutter Entertainment plc \* | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 1387 |
| &nbsp;&nbsp;&nbsp; Halma plc | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp; Hikma Pharmaceuticals plc | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc | &nbsp;&nbsp; 157 | &nbsp;&nbsp; 1914 |
| &nbsp;&nbsp;&nbsp; Imperial Brands plc | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp; Informa plc | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp; InterContinental Hotels Group plc | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Intertek Group plc | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp; J Sainsbury plc | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; JD Sports Fashion plc | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp; Kingfisher plc | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp; Land Securities Group plc, REIT | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Legal & General Group plc | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc | &nbsp;&nbsp; 535 | &nbsp;&nbsp; 548 |
| &nbsp;&nbsp;&nbsp; London Stock Exchange Group plc | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 2185 |
| &nbsp;&nbsp;&nbsp; M&G plc | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; Marks & Spencer Group plc | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Melrose Industries plc | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; National Grid plc | &nbsp;&nbsp; 44 | &nbsp;&nbsp; 612 |
| &nbsp;&nbsp;&nbsp; NatWest Group plc | &nbsp;&nbsp; 281 | &nbsp;&nbsp; 1948 |
| &nbsp;&nbsp;&nbsp; Next plc | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 169 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United Kingdom — continued** | **United Kingdom — continued** | **United Kingdom — continued** |
| &nbsp;&nbsp;&nbsp; Pearson plc | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; Phoenix Group Holdings plc | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Reckitt Benckiser Group plc | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 454 |
| &nbsp;&nbsp;&nbsp; RELX plc | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 853 |
| &nbsp;&nbsp;&nbsp; RELX plc | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 2225 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial plc | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp; Rolls-Royce Holdings plc | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 1070 |
| &nbsp;&nbsp;&nbsp; Sage Group plc (The) | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp; Schroders plc | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp; Segro plc, REIT | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp; Severn Trent plc | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Smith & Nephew plc | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp; Smiths Group plc | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp; Spirax Group plc | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; SSE plc | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp; Standard Chartered plc | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp; TechnipFMC plc | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 1226 |
| &nbsp;&nbsp;&nbsp; Tesco plc | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp; Unilever plc | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 1290 |
| &nbsp;&nbsp;&nbsp; United Utilities Group plc | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp; Vodafone Group plc | &nbsp;&nbsp; 177 | &nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp; Whitbread plc | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Wise plc, Class A \* | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; WPP plc | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 52 |
|  |  | &nbsp;&nbsp; 38873 |
| **United States — 30.5%** | **United States — 30.5%** | **United States — 30.5%** |
| &nbsp;&nbsp;&nbsp; 3M Co. | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 7299 |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 5619 |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | &nbsp;&nbsp; 53 | &nbsp;&nbsp; 10103 |
| &nbsp;&nbsp;&nbsp; AGCO Corp. | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 2232 |
| &nbsp;&nbsp;&nbsp; Air Lease Corp. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 692 |
| &nbsp;&nbsp;&nbsp; Alcoa Corp. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp; Alcon AG | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp; Align Technology, Inc. \* | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 974 |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 495 |
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc. \* | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 1920 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 7420 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc. \* | &nbsp;&nbsp; 202 | &nbsp;&nbsp; 47284 |
| &nbsp;&nbsp;&nbsp; American Express Co. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 2062 |
| &nbsp;&nbsp;&nbsp; American Homes 4 Rent, Class A, REIT | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 589 |
| &nbsp;&nbsp;&nbsp; American Tower Corp., REIT | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 7025 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1569 |
| &nbsp;&nbsp;&nbsp; AMETEK, Inc. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 1520 |
| &nbsp;&nbsp;&nbsp; Amrize Ltd. \* | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp; Amrize Ltd. \* | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 665 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 3413 |
| &nbsp;&nbsp;&nbsp; Angi, Inc. \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 65 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Apple Hospitality REIT, Inc., REIT | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | &nbsp;&nbsp; 161 | &nbsp;&nbsp; 33374 |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A \* | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 648 |
| &nbsp;&nbsp;&nbsp; Arch Capital Group Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 1152 |
| &nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 2721 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | &nbsp;&nbsp; 188 | &nbsp;&nbsp; 5148 |
| &nbsp;&nbsp;&nbsp; Atlassian Corp., Class A \* | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 1230 |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc. \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 2348 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems Ltd. \* | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 8773 |
| &nbsp;&nbsp;&nbsp; Ball Corp. | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 1169 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | &nbsp;&nbsp; 346 | &nbsp;&nbsp; 16373 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc., Class B \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1659 |
| &nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 301 |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc. \* | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 735 |
| &nbsp;&nbsp;&nbsp; Blackstone, Inc. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 3025 |
| &nbsp;&nbsp;&nbsp; Boeing Co. (The) \* | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 1158 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 3605 |
| &nbsp;&nbsp;&nbsp; BP plc | &nbsp;&nbsp; 142 | &nbsp;&nbsp; 763 |
| &nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions, Inc. \* | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 708 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | &nbsp;&nbsp; 161 | &nbsp;&nbsp; 6992 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 10360 |
| &nbsp;&nbsp;&nbsp; Bruker Corp. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 448 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 1374 |
| &nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 554 |
| &nbsp;&nbsp;&nbsp; Carnival Corp. \* | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 957 |
| &nbsp;&nbsp;&nbsp; Carrier Global Corp. | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 1467 |
| &nbsp;&nbsp;&nbsp; Carvana Co. \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1356 |
| &nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 1039 |
| &nbsp;&nbsp;&nbsp; CBRE Group, Inc., Class A \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 876 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The) | &nbsp;&nbsp; 121 | &nbsp;&nbsp; 11837 |
| &nbsp;&nbsp;&nbsp; Chemours Co. (The) | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 460 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 1108 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 1133 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc., Class A \* | &nbsp;&nbsp; 104 | &nbsp;&nbsp; 4468 |
| &nbsp;&nbsp;&nbsp; Chubb Ltd. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp; Cigna Group (The) | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 2390 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 1425 |
| &nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 1169 |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 14352 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 1047 |
| &nbsp;&nbsp;&nbsp; Columbia Banking System, Inc. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp; Columbia Sportswear Co. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 667 |
| &nbsp;&nbsp;&nbsp; Comerica, Inc. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 720 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; ConocoPhillips | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 1103 |
| &nbsp;&nbsp;&nbsp; Constellation Brands, Inc., Class A | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 311 |
| &nbsp;&nbsp;&nbsp; Copart, Inc. \* | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 1143 |
| &nbsp;&nbsp;&nbsp; Corning, Inc. | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 2245 |
| &nbsp;&nbsp;&nbsp; Corpay, Inc. \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1123 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 307 |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc., Class A \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1921 |
| &nbsp;&nbsp;&nbsp; CSL Ltd. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 745 |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1141 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp; CyberArk Software Ltd. \* | &nbsp;&nbsp; — | &nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp; Danaher Corp. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 1700 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 1043 |
| &nbsp;&nbsp;&nbsp; Deere & Co. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1470 |
| &nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 658 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | &nbsp;&nbsp; 111 | &nbsp;&nbsp; 6512 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A \* | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 2668 |
| &nbsp;&nbsp;&nbsp; Dover Corp. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 710 |
| &nbsp;&nbsp;&nbsp; Eagle Materials, Inc. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 875 |
| &nbsp;&nbsp;&nbsp; EastGroup Properties, Inc., REIT | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp; Eaton Corp. plc | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 5072 |
| &nbsp;&nbsp;&nbsp; Edison International | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 540 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 745 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 2594 |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co. | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 7979 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 3875 |
| &nbsp;&nbsp;&nbsp; EQT Corp. | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 2011 |
| &nbsp;&nbsp;&nbsp; Equinix, Inc., REIT | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2964 |
| &nbsp;&nbsp;&nbsp; ExlService Holdings, Inc. \* | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 552 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 1213 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 386 |
| &nbsp;&nbsp;&nbsp; Experian plc | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | &nbsp;&nbsp; 128 | &nbsp;&nbsp; 14305 |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 613 |
| &nbsp;&nbsp;&nbsp; Ferrovial SE | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | &nbsp;&nbsp; 128 | &nbsp;&nbsp; 10136 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 940 |
| &nbsp;&nbsp;&nbsp; Figma, Inc., Class A \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 488 |
| &nbsp;&nbsp;&nbsp; First Citizens BancShares, Inc., Class A | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 4059 |
| &nbsp;&nbsp;&nbsp; First Horizon Corp. | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 999 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc. \* | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 797 |
| &nbsp;&nbsp;&nbsp; Flowco Holdings, Inc., Class A | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp; Flowserve Corp. | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 1432 |
| &nbsp;&nbsp;&nbsp; FMC Corp. | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 2770 |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 894 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Garmin Ltd. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 1041 |
| &nbsp;&nbsp;&nbsp; Gates Industrial Corp. plc \* | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 1395 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 600 |
| &nbsp;&nbsp;&nbsp; General Motors Co. | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 571 |
| &nbsp;&nbsp;&nbsp; Genpact Ltd. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 576 |
| &nbsp;&nbsp;&nbsp; Gentex Corp. | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 1348 |
| &nbsp;&nbsp;&nbsp; Globant SA \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 2496 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging Holding Co. | &nbsp;&nbsp; 47 | &nbsp;&nbsp; 1042 |
| &nbsp;&nbsp;&nbsp; GSK plc | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 673 |
| &nbsp;&nbsp;&nbsp; Haleon plc | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 376 |
| &nbsp;&nbsp;&nbsp; Hayward Holdings, Inc. \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 407 |
| &nbsp;&nbsp;&nbsp; Henry Schein, Inc. \* | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 844 |
| &nbsp;&nbsp;&nbsp; Hershey Co. (The) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 749 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 1489 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 762 |
| &nbsp;&nbsp;&nbsp; Holcim AG | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. (The) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1536 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 657 |
| &nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc., REIT | &nbsp;&nbsp; 39 | &nbsp;&nbsp; 619 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 6546 |
| &nbsp;&nbsp;&nbsp; HubSpot, Inc. \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1438 |
| &nbsp;&nbsp;&nbsp; Humana, Inc. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 3702 |
| &nbsp;&nbsp;&nbsp; IAC, Inc. \* | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 303 |
| &nbsp;&nbsp;&nbsp; Incora Intermediate LLC ‡ \* | &nbsp;&nbsp; — | &nbsp;&nbsp; 9 |
| &nbsp;&nbsp;&nbsp; Ingersoll Rand, Inc. | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 1226 |
| &nbsp;&nbsp;&nbsp; Insmed, Inc. \* | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 1753 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 1626 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 799 |
| &nbsp;&nbsp;&nbsp; International Paper Co. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4120 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1996 |
| &nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc. \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 568 |
| &nbsp;&nbsp;&nbsp; ITT, Inc. | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 2041 |
| &nbsp;&nbsp;&nbsp; Jabil, Inc. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 1316 |
| &nbsp;&nbsp;&nbsp; James Hardie Industries plc, CHDI \* (a) | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 445 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 514 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | &nbsp;&nbsp; 117 | &nbsp;&nbsp; 19358 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 6516 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 484 |
| &nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 1379 |
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 1667 |
| &nbsp;&nbsp;&nbsp; Lamar Advertising Co., Class A, REIT | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 420 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Linde plc | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 2791 |
| &nbsp;&nbsp;&nbsp; Loews Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 542 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 8238 |
| &nbsp;&nbsp;&nbsp; M&T Bank Corp. | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 1272 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc., Class A | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 5485 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 578 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6317 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 7797 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1858 |
| &nbsp;&nbsp;&nbsp; Medtronic plc | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 2317 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 1156 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 43634 |
| &nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc. \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 662 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 1396 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | &nbsp;&nbsp; 127 | &nbsp;&nbsp; 67894 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc., REIT | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 570 |
| &nbsp;&nbsp;&nbsp; Middleby Corp. (The) \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 498 |
| &nbsp;&nbsp;&nbsp; Mohawk Industries, Inc. \* | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 1694 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc. \* | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp; Monday.com Ltd. \* | &nbsp;&nbsp; — | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1662 |
| &nbsp;&nbsp;&nbsp; Moran Foods Backstop Equity ‡ \* | &nbsp;&nbsp; 2995 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 5863 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 261 |
| &nbsp;&nbsp;&nbsp; MYT Holding LLC ‡ \* | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp; Natera, Inc. \* | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 1698 |
| &nbsp;&nbsp;&nbsp; Nestle SA (Registered) | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 4541 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc. \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4852 |
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc. \* | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 1382 |
| &nbsp;&nbsp;&nbsp; NextEra Energy, Inc. | &nbsp;&nbsp; 96 | &nbsp;&nbsp; 6824 |
| &nbsp;&nbsp;&nbsp; NIKE, Inc., Class B | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 396 |
| &nbsp;&nbsp;&nbsp; NMG Parent LLC, Escrow ‡ \* (a) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp; Northern Trust Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 792 |
| &nbsp;&nbsp;&nbsp; Novartis AG (Registered) | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 4291 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | &nbsp;&nbsp; 336 | &nbsp;&nbsp; 59805 |
| &nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 1073 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. \* | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 984 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 4571 |
| &nbsp;&nbsp;&nbsp; Oscar Health, Inc., Class A \* (a) | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 1937 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc. \* | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 1865 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 707 |
| &nbsp;&nbsp;&nbsp; Performance Food Group Co. \* | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 1681 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 4669 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 583 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 452 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. (The) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 535 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. (The) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1071 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp; Public Storage, REIT | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 453 |
| &nbsp;&nbsp;&nbsp; QIAGEN NV | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 2528 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 777 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 1185 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp; Rayonier, Inc., REIT | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp., REIT | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 610 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp; — | &nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 787 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A \* | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 1915 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 1949 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | &nbsp;&nbsp; — | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 7357 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 3117 |
| &nbsp;&nbsp;&nbsp; Saia, Inc. \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1098 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 8225 |
| &nbsp;&nbsp;&nbsp; Sandisk Corp. \* | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 720 |
| &nbsp;&nbsp;&nbsp; Sanofi SA | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 3037 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp., REIT | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 402 |
| &nbsp;&nbsp;&nbsp; Schneider Electric SE | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 1258 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings plc | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 2385 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc. \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1174 |
| &nbsp;&nbsp;&nbsp; Shell plc | &nbsp;&nbsp; 185 | &nbsp;&nbsp; 6657 |
| &nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 626 |
| &nbsp;&nbsp;&nbsp; Smurfit WestRock plc | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 535 |
| &nbsp;&nbsp;&nbsp; Snowflake, Inc., Class A \* | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 2394 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The) | &nbsp;&nbsp; 157 | &nbsp;&nbsp; 14829 |
| &nbsp;&nbsp;&nbsp; Southwest Airlines Co. | &nbsp;&nbsp; 69 | &nbsp;&nbsp; 2127 |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA \* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2556 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 969 |
| &nbsp;&nbsp;&nbsp; Stellantis NV | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp; Swiss Re AG | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp; Synopsys, Inc. \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1731 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. \* | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 1946 |
| &nbsp;&nbsp;&nbsp; TD SYNNEX Corp. | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 2196 |
| &nbsp;&nbsp;&nbsp; Tenaris SA | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Teradyne, Inc. | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 904 |
| &nbsp;&nbsp;&nbsp; Tesla, Inc. \* | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 10327 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 773 |
| &nbsp;&nbsp;&nbsp; Textron, Inc. | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 793 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1733 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. (The) | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 2092 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES**<br> **(000)**<br>| **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Tradeweb Markets, Inc., Class A | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 957 |
| &nbsp;&nbsp;&nbsp; Trane Technologies plc | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 9683 |
| &nbsp;&nbsp;&nbsp; TransUnion | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. (The) | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 966 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc., Class A \* | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 924 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. \* | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 2013 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc. \* | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1316 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc., Class B | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 655 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 4323 |
| &nbsp;&nbsp;&nbsp; US Bancorp | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 3443 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 2149 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc. \* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 1210 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. (The) | &nbsp;&nbsp; 146 | &nbsp;&nbsp; 17346 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. | &nbsp;&nbsp; 179 | &nbsp;&nbsp; 14440 |
| &nbsp;&nbsp;&nbsp; WESCO International, Inc. | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 804 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 4426 |
| &nbsp;&nbsp;&nbsp; WEX, Inc. \* | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 773 |
| &nbsp;&nbsp;&nbsp; Weyerhaeuser Co., REIT | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 311 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The) | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 1667 |
| &nbsp;&nbsp;&nbsp; WillScot Holdings Corp. | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 632 |
| &nbsp;&nbsp;&nbsp; WR Berkley Corp. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 393 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 4294 |
| &nbsp;&nbsp;&nbsp; Zillow Group, Inc., Class C \* | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 471 |
|  |  | &nbsp;&nbsp; 862337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $1,001,661)<br>|  | &nbsp;&nbsp; 1394863 |
|  | **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Corporate Bonds — 20.9%** | **Corporate Bonds — 20.9%** | **Corporate Bonds — 20.9%** |
| **Australia — 0.1%** | **Australia — 0.1%** | **Australia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Woolworths Group Ltd. 0.38%, 11/15/2028 (b) | &nbsp;&nbsp; EUR2,450 | &nbsp;&nbsp; 2593 |
| **Canada — 0.9%** | **Canada — 0.9%** | **Canada — 0.9%** |
| &nbsp;&nbsp;&nbsp; Bank of Montreal 0.05%, 6/8/2029 (b) | &nbsp;&nbsp; EUR5,059 | &nbsp;&nbsp; 5234 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-MONTH CME TERM SOFR + 3.68%), 5.50%, 7/15/2077 (e) | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.71%), 7.38%, 1/15/2083 (e) | &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 1133 |
| &nbsp;&nbsp;&nbsp; National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 0.90%), 5.28%, 3/25/2027 (e) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.79%), 4.95%, 2/1/2028 (e) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp; Ontario Teachers' Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 5/15/2026 (b) | &nbsp;&nbsp; GBP4,950 | &nbsp;&nbsp; 6390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 10/19/2027 (c) | &nbsp;&nbsp; CAD773 | &nbsp;&nbsp; 536 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Canada — continued** | **Canada — continued** | **Canada — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 4/25/2028 (c) | &nbsp;&nbsp; 3483 | &nbsp;&nbsp; 3496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%, 5/19/2028 (b) | &nbsp;&nbsp; EUR2,955 | &nbsp;&nbsp; 3165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.05%, 11/25/2030 (b) | &nbsp;&nbsp; EUR2,896 | &nbsp;&nbsp; 2860 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 6/3/2026 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 2/16/2029 (b) | &nbsp;&nbsp; EUR1,300 | &nbsp;&nbsp; 1515 |
|  |  | &nbsp;&nbsp; 25422 |
| **Denmark — 0.1%** | **Denmark — 0.1%** | **Denmark — 0.1%** |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S (EUR Swap Annual 1 Year + 1.35%), 4.50%, 11/9/2028 (b) (e) | &nbsp;&nbsp; EUR2,000 | &nbsp;&nbsp; 2377 |
| **France — 0.3%** | **France — 0.3%** | **France — 0.3%** |
| &nbsp;&nbsp;&nbsp; Alstom SA 0.13%, 7/27/2027 (b) | &nbsp;&nbsp; EUR500 | &nbsp;&nbsp; 545 |
| &nbsp;&nbsp;&nbsp; BPCE SFH SA 3.38%, 3/13/2029 (b) | &nbsp;&nbsp; EUR1,900 | &nbsp;&nbsp; 2233 |
| &nbsp;&nbsp;&nbsp; Electricite de France SA (EUR Swap Annual 5 Year + 2.86%), 2.63%, 12/1/2027 (b) (e) (f) (g) | &nbsp;&nbsp; EUR400 | &nbsp;&nbsp; 446 |
| &nbsp;&nbsp;&nbsp; Engie SA 3.63%, 3/6/2031 (b) | &nbsp;&nbsp; EUR2,200 | &nbsp;&nbsp; 2578 |
| &nbsp;&nbsp;&nbsp; Forvia SE 5.63%, 6/15/2030 (b) | &nbsp;&nbsp; EUR225 | &nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA (EURIBOR 3 Month + 1.80%), 4.25%, 12/6/2030 (b) (e) | &nbsp;&nbsp; EUR1,000 | &nbsp;&nbsp; 1190 |
|  |  | &nbsp;&nbsp; 7255 |
| **Germany — 0.9%** | **Germany — 0.9%** | **Germany — 0.9%** |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 2.31%, 11/16/2027 (e) | &nbsp;&nbsp; 2450 | &nbsp;&nbsp; 2378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR 3 Month + 1.25%), 3.38%, 2/13/2031 (b) (e) | &nbsp;&nbsp; EUR900 | &nbsp;&nbsp; 1032 |
| &nbsp;&nbsp;&nbsp; Heidelberg Materials Finance Luxembourg SA 4.88%, 11/21/2033 (b) | &nbsp;&nbsp; EUR1,995 | &nbsp;&nbsp; 2491 |
| &nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH 6.75% (Cash), 11/15/2029 (b) (h) | &nbsp;&nbsp; EUR220 | &nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp; Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 3/31/2027 (b) | &nbsp;&nbsp; EUR7,500 | &nbsp;&nbsp; 8278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 10/10/2028 (b) | &nbsp;&nbsp; EUR2,690 | &nbsp;&nbsp; 3152 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Finance North America LLC 4.90%, 11/15/2027 (c) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; Traton Finance Luxembourg SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 3/27/2030 (b) | &nbsp;&nbsp; EUR2,100 | &nbsp;&nbsp; 2441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/14/2031 (b) | &nbsp;&nbsp; EUR400 | &nbsp;&nbsp; 463 |
| &nbsp;&nbsp;&nbsp; Volkswagen Leasing GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 7/19/2029 (b) | &nbsp;&nbsp; EUR150 | &nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/11/2031 (b) | &nbsp;&nbsp; EUR1,950 | &nbsp;&nbsp; 2297 |
| &nbsp;&nbsp;&nbsp; Vonovia SE 1.00%, 7/9/2030 (b) | &nbsp;&nbsp; EUR2,500 | &nbsp;&nbsp; 2576 |
|  |  | &nbsp;&nbsp; 25783 |
| **Ireland — 0.2%** | **Ireland — 0.2%** | **Ireland — 0.2%** |
| &nbsp;&nbsp;&nbsp; AIB Group plc (EUR Swap Annual 1 Year + 1.95%), 4.63%, 7/23/2029 (b) (e) | &nbsp;&nbsp; EUR2,000 | &nbsp;&nbsp; 2403 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd. 3.25%, 2/15/2027 (c) | &nbsp;&nbsp; 2350 | &nbsp;&nbsp; 2290 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group plc (EURIBOR ICE Swap Rate 1 Year + 2.05%), 5.00%, 7/4/2031 (b) (e) | &nbsp;&nbsp; EUR1,900 | &nbsp;&nbsp; 2358 |
|  |  | &nbsp;&nbsp; 7051 |
| **Italy — 0.5%** | **Italy — 0.5%** | **Italy — 0.5%** |
| &nbsp;&nbsp;&nbsp; Autostrade per l'Italia SpA 5.13%, 6/14/2033 (b) | &nbsp;&nbsp; EUR1,900 | &nbsp;&nbsp; 2365 |
| &nbsp;&nbsp;&nbsp; Banca Monte dei Paschi di Siena SpA 3.50%, 4/23/2029 (b) | &nbsp;&nbsp; EUR2,150 | &nbsp;&nbsp; 2528 |
| &nbsp;&nbsp;&nbsp; Banco BPM SpA 4.63%, 11/29/2027 (b) | &nbsp;&nbsp; EUR2,000 | &nbsp;&nbsp; 2386 |
| &nbsp;&nbsp;&nbsp; Credito Emiliano SpA 3.25%, 4/18/2029 (b) | &nbsp;&nbsp; EUR2,000 | &nbsp;&nbsp; 2325 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Italy — continued** | **Italy — continued** | **Italy — continued** |
| &nbsp;&nbsp;&nbsp; Enel SpA (EURIBOR ICE Swap Rate 5 Year + 3.49%), 6.38%, 4/16/2028 (b) (e) (f) (g) | &nbsp;&nbsp; EUR300 | &nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA 5.13%, 8/29/2031 (b) | &nbsp;&nbsp; EUR1,900 | &nbsp;&nbsp; 2401 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA (EURIBOR 3 Month + 1.60%), 4.45%, 2/16/2029 (b) (e) | &nbsp;&nbsp; EUR2,050 | &nbsp;&nbsp; 2438 |
|  |  | &nbsp;&nbsp; 14813 |
| **Mexico — 0.1%** | **Mexico — 0.1%** | **Mexico — 0.1%** |
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos 6.70%, 2/16/2032 | &nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2375 |
| **Netherlands — 0.1%** | **Netherlands — 0.1%** | **Netherlands — 0.1%** |
| &nbsp;&nbsp;&nbsp; ING Groep NV (SOFR + 1.00%), 1.73%, 4/1/2027 (e) | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp; Nederlandse Waterschapsbank NV 3.50%, 7/20/2027 | &nbsp;&nbsp; AUD3,120 | &nbsp;&nbsp; 1994 |
|  |  | &nbsp;&nbsp; 2190 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| &nbsp;&nbsp;&nbsp; Banco Santander Totta SA 3.25%, 2/15/2031 (b) | &nbsp;&nbsp; EUR3,600 | &nbsp;&nbsp; 4208 |
| **Puerto Rico — 0.0% ^** | **Puerto Rico — 0.0% ^** | **Puerto Rico — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC 5.13%, 7/15/2029 (c) | &nbsp;&nbsp; 1899 | &nbsp;&nbsp; 1291 |
| **Saudi Arabia — 0.0% ^** | **Saudi Arabia — 0.0% ^** | **Saudi Arabia — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Greensaif Pipelines Bidco Sarl 5.85%, 2/23/2036 (b) | &nbsp;&nbsp; 780 | &nbsp;&nbsp; 798 |
| **Singapore — 0.3%** | **Singapore — 0.3%** | **Singapore — 0.3%** |
| &nbsp;&nbsp;&nbsp; Temasek Financial I Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 8/1/2028 (c) | &nbsp;&nbsp; 6158 | &nbsp;&nbsp; 6069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 8/2/2031 (c) | &nbsp;&nbsp; 2593 | &nbsp;&nbsp; 2252 |
|  |  | &nbsp;&nbsp; 8321 |
| **South Korea — 0.1%** | **South Korea — 0.1%** | **South Korea — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanwha Life Insurance Co. Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.29%), 6.30%, <br> 6/24/2055 (a) (c) (e)<br>| &nbsp;&nbsp; 205 | &nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp; Korea Southern Power Co. Ltd. 0.75%, 1/27/2026 (a) (c) | &nbsp;&nbsp; 2155 | &nbsp;&nbsp; 2114 |
|  |  | &nbsp;&nbsp; 2325 |
| **Spain — 0.2%** | **Spain — 0.2%** | **Spain — 0.2%** |
| &nbsp;&nbsp;&nbsp; Banco de Sabadell SA (EURIBOR ICE Swap Rate 1 Year + 1.60%), 4.25%, 9/13/2030 (b) (e) | &nbsp;&nbsp; EUR1,000 | &nbsp;&nbsp; 1197 |
| &nbsp;&nbsp;&nbsp; Bankinter SA 0.88%, 7/8/2026 (b) | &nbsp;&nbsp; EUR2,300 | &nbsp;&nbsp; 2595 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA (EURIBOR 3 Month + 1.65%), 5.00%, 7/19/2029 (b) (e) | &nbsp;&nbsp; EUR1,900 | &nbsp;&nbsp; 2305 |
|  |  | &nbsp;&nbsp; 6097 |
| **Switzerland — 0.5%** | **Switzerland — 0.5%** | **Switzerland — 0.5%** |
| &nbsp;&nbsp;&nbsp; Holcim Finance Luxembourg SA 0.50%, 4/23/2031 (b) | &nbsp;&nbsp; EUR2,108 | &nbsp;&nbsp; 2082 |
| &nbsp;&nbsp;&nbsp; UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFRINDX + 0.98%), 1.31%, 2/2/2027 (c) (e) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR ICE Swap Rate 1 Year + 4.95%), 7.75%, 3/1/2029 (b) (e) | &nbsp;&nbsp; EUR1,850 | &nbsp;&nbsp; 2371 |
| &nbsp;&nbsp;&nbsp; UBS Switzerland AG 3.30%, 3/5/2029 (b) | &nbsp;&nbsp; EUR7,070 | &nbsp;&nbsp; 8252 |
|  |  | &nbsp;&nbsp; 12951 |
| **Thailand — 0.0% ^** | **Thailand — 0.0% ^** | **Thailand — 0.0% ^** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Krung Thai Bank PCL (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.53%), 4.40%, 3/25/2026 (b) (e) <br> (f) (g) (i)<br>| &nbsp;&nbsp; 530 | &nbsp;&nbsp; 524 |
| **Trinidad And Tobago — 0.0% ^** | **Trinidad And Tobago — 0.0% ^** | **Trinidad And Tobago — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Trinidad Generation UnLtd 7.75%, 6/16/2033 (a) (c) | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 205 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United Kingdom — 0.5%** | **United Kingdom — 0.5%** | **United Kingdom — 0.5%** |
| &nbsp;&nbsp;&nbsp; Barclays plc (EURIBOR ICE Swap Rate 1 Year + 2.05%), 4.51%, 1/31/2033 (b) (e) | &nbsp;&nbsp; EUR457 | &nbsp;&nbsp; 551 |
| &nbsp;&nbsp;&nbsp; Cadent Finance plc 0.63%, 3/19/2030 (b) | &nbsp;&nbsp; EUR2,325 | &nbsp;&nbsp; 2383 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc (SOFR + 1.29%), 5.29%, 11/19/2030 (e) | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp; INEOS Quattro Finance 2 plc 8.50%, 3/15/2029 (b) | &nbsp;&nbsp; EUR225 | &nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp; Motability Operations Group plc 3.88%, 1/24/2034 (b) | &nbsp;&nbsp; EUR2,245 | &nbsp;&nbsp; 2601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Santander UK Group Holdings plc (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 1.53%, <br> 8/21/2026 (e)<br>| &nbsp;&nbsp; 200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp; Synthomer plc 7.38%, 5/2/2029 (b) | &nbsp;&nbsp; EUR230 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp; TSB Bank plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.32%, 3/5/2029 (b) | &nbsp;&nbsp; EUR4,450 | &nbsp;&nbsp; 5202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 2/18/2030 (b) | &nbsp;&nbsp; EUR1,300 | &nbsp;&nbsp; 1482 |
|  |  | &nbsp;&nbsp; 13238 |
| **United States — 16.0%** | **United States — 16.0%** | **United States — 16.0%** |
| &nbsp;&nbsp;&nbsp; AAR Escrow Issuer LLC 6.75%, 3/15/2029 (c) | &nbsp;&nbsp; 1357 | &nbsp;&nbsp; 1392 |
| &nbsp;&nbsp;&nbsp; Acrisure LLC 4.25%, 2/15/2029 (c) | &nbsp;&nbsp; 2158 | &nbsp;&nbsp; 2060 |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd. 7.00%, 4/15/2028 (c) | &nbsp;&nbsp; 1431 | &nbsp;&nbsp; 1465 |
| &nbsp;&nbsp;&nbsp; ADT Security Corp. (The) 4.13%, 8/1/2029 (c) | &nbsp;&nbsp; 1888 | &nbsp;&nbsp; 1806 |
| &nbsp;&nbsp;&nbsp; Advantage Sales & Marketing, Inc. 6.50%, 11/15/2028 (c) | &nbsp;&nbsp; 1822 | &nbsp;&nbsp; 1366 |
| &nbsp;&nbsp;&nbsp; Affinity Interactive 6.88%, 12/15/2027 (c) | &nbsp;&nbsp; 1837 | &nbsp;&nbsp; 1012 |
| &nbsp;&nbsp;&nbsp; AG TTMT Escrow Issuer LLC 8.63%, 9/30/2027 (c) | &nbsp;&nbsp; 999 | &nbsp;&nbsp; 1026 |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. 3.50%, 3/15/2029 (c) | &nbsp;&nbsp; 866 | &nbsp;&nbsp; 817 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. REIT, 3.80%, 4/15/2026 | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp; Allegiant Travel Co. 7.25%, 8/15/2027 (c) | &nbsp;&nbsp; 1485 | &nbsp;&nbsp; 1484 |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/15/2027 (c) | &nbsp;&nbsp; 83 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/15/2028 (c) | &nbsp;&nbsp; 2067 | &nbsp;&nbsp; 2095 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/1/2028 (c) | &nbsp;&nbsp; 2020 | &nbsp;&nbsp; 1960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 6/15/2030 (c) | &nbsp;&nbsp; 1193 | &nbsp;&nbsp; 1221 |
| &nbsp;&nbsp;&nbsp; Alta Equipment Group, Inc. 9.00%, 6/1/2029 (a) (c) | &nbsp;&nbsp; 780 | &nbsp;&nbsp; 740 |
| &nbsp;&nbsp;&nbsp; Alumina Pty. Ltd. 6.13%, 3/15/2030 (c) | &nbsp;&nbsp; 794 | &nbsp;&nbsp; 803 |
| &nbsp;&nbsp;&nbsp; AMC Networks, Inc. 10.25%, 1/15/2029 (c) | &nbsp;&nbsp; 2216 | &nbsp;&nbsp; 2274 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/15/2028 (c) | &nbsp;&nbsp; 994 | &nbsp;&nbsp; 1014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/20/2029 (c) | &nbsp;&nbsp; 254 | &nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 5/15/2029 (a) (c) | &nbsp;&nbsp; 3396 | &nbsp;&nbsp; 3549 |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. 5.00%, 10/1/2029 | &nbsp;&nbsp; 1654 | &nbsp;&nbsp; 1501 |
| &nbsp;&nbsp;&nbsp; American Honda Finance Corp. (SOFR + 0.87%), 5.24%, 7/9/2027 (e) | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp; AmeriTex HoldCo Intermediate LLC 10.25%, 10/15/2028 (a) (c) | &nbsp;&nbsp; 1416 | &nbsp;&nbsp; 1503 |
| &nbsp;&nbsp;&nbsp; AmWINS Group, Inc. 6.38%, 2/15/2029 (c) | &nbsp;&nbsp; 2113 | &nbsp;&nbsp; 2152 |
| &nbsp;&nbsp;&nbsp; ANGI Group LLC 3.88%, 8/15/2028 (c) | &nbsp;&nbsp; 1539 | &nbsp;&nbsp; 1434 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP 5.75%, 3/1/2027 (c) | &nbsp;&nbsp; 106 | &nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp; Antero Resources Corp. 5.38%, 3/1/2030 (c) | &nbsp;&nbsp; 1900 | &nbsp;&nbsp; 1891 |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC 7.00%, 4/15/2030 (a) (c) | &nbsp;&nbsp; 2448 | &nbsp;&nbsp; 2344 |
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC 7.88%, 11/1/2029 (c) | &nbsp;&nbsp; 1646 | &nbsp;&nbsp; 1696 |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc. 4.25%, 6/1/2028 (c) | &nbsp;&nbsp; 1118 | &nbsp;&nbsp; 1077 |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC 3.25%, 9/1/2028 (a) (c) | &nbsp;&nbsp; 3181 | &nbsp;&nbsp; 2999 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Athene Global Funding 5.62%, 5/8/2026 (c) | &nbsp;&nbsp; 78 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 7/15/2028 (c) | &nbsp;&nbsp; 1797 | &nbsp;&nbsp; 1757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/1/2029 (c) | &nbsp;&nbsp; 1155 | &nbsp;&nbsp; 1089 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/1/2029 (c) | &nbsp;&nbsp; 1956 | &nbsp;&nbsp; 1873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/15/2030 (c) | &nbsp;&nbsp; 551 | &nbsp;&nbsp; 567 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC 4.75%, 6/15/2027 (c) | &nbsp;&nbsp; 399 | &nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc. 8.00%, 9/15/2028 (c) | &nbsp;&nbsp; 1732 | &nbsp;&nbsp; 1619 |
| &nbsp;&nbsp;&nbsp; Ball Corp. 6.88%, 3/15/2028 | &nbsp;&nbsp; 2429 | &nbsp;&nbsp; 2479 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series N, (SOFR + 0.91%), 1.66%, 3/11/2027 (e) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR 3 Month + 0.95%), 1.10%, 5/24/2032 (b) (e) | &nbsp;&nbsp; EUR2,550 | &nbsp;&nbsp; 2588 |
| &nbsp;&nbsp;&nbsp; Bausch + Lomb Corp. 8.38%, 10/1/2028 (c) | &nbsp;&nbsp; 2113 | &nbsp;&nbsp; 2203 |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/1/2028 (c) | &nbsp;&nbsp; 2063 | &nbsp;&nbsp; 1826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.00%, 9/30/2028 (c) | &nbsp;&nbsp; 1725 | &nbsp;&nbsp; 1772 |
| &nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc. REIT, 4.50%, 4/1/2027 (c) | &nbsp;&nbsp; 102 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP 6.88%, 7/1/2029 (c) | &nbsp;&nbsp; 1255 | &nbsp;&nbsp; 1292 |
| &nbsp;&nbsp;&nbsp; Bunge Finance Europe BV 1.00%, 9/24/2028 (b) | &nbsp;&nbsp; EUR2,350 | &nbsp;&nbsp; 2539 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc. 7.00%, 2/15/2030 (c) | &nbsp;&nbsp; 1931 | &nbsp;&nbsp; 1992 |
| &nbsp;&nbsp;&nbsp; California Resources Corp. 8.25%, 6/15/2029 (c) | &nbsp;&nbsp; 1755 | &nbsp;&nbsp; 1803 |
| &nbsp;&nbsp;&nbsp; Calpine Corp. 4.63%, 2/1/2029 (c) | &nbsp;&nbsp; 772 | &nbsp;&nbsp; 759 |
| &nbsp;&nbsp;&nbsp; Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/1/2027 (c) | &nbsp;&nbsp; 341 | &nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 5/1/2029 (c) | &nbsp;&nbsp; 2546 | &nbsp;&nbsp; 2569 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC 6.38%, 9/1/2029 (c) | &nbsp;&nbsp; 2217 | &nbsp;&nbsp; 2237 |
| &nbsp;&nbsp;&nbsp; Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.67%, 7/15/2027 (j) | &nbsp;&nbsp; 741 | &nbsp;&nbsp; 759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 11/15/2028 (j) | &nbsp;&nbsp; 3068 | &nbsp;&nbsp; 3194 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. 3.88%, 8/15/2029 (c) | &nbsp;&nbsp; 1552 | &nbsp;&nbsp; 1431 |
| &nbsp;&nbsp;&nbsp; Champions Financing, Inc. 8.75%, 2/15/2029 (a) (c) | &nbsp;&nbsp; 1574 | &nbsp;&nbsp; 1457 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc. 7.50%, 1/1/2030 (c) | &nbsp;&nbsp; 2052 | &nbsp;&nbsp; 2150 |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 2/1/2034 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/23/2035 | &nbsp;&nbsp; 2250 | &nbsp;&nbsp; 2326 |
| &nbsp;&nbsp;&nbsp; Chemours Co. (The) 5.75%, 11/15/2028 (c) | &nbsp;&nbsp; 2196 | &nbsp;&nbsp; 2017 |
| &nbsp;&nbsp;&nbsp; Chevron Phillips Chemical Co. LLC 3.40%, 12/1/2026 (c) | &nbsp;&nbsp; 78 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc. 5.25%, 7/15/2028 (c) | &nbsp;&nbsp; 596 | &nbsp;&nbsp; 592 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.77%), 1.12%, 1/28/2027 (e) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 4.54%, 9/19/2030 (e) | &nbsp;&nbsp; 2805 | &nbsp;&nbsp; 2794 |
| &nbsp;&nbsp;&nbsp; Civitas Resources, Inc. 8.38%, 7/1/2028 (a) (c) | &nbsp;&nbsp; 792 | &nbsp;&nbsp; 814 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/15/2028 (c) | &nbsp;&nbsp; 2248 | &nbsp;&nbsp; 2298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 2/15/2030 (c) | &nbsp;&nbsp; 180 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp. 3.88%, 7/1/2028 (c) | &nbsp;&nbsp; 2565 | &nbsp;&nbsp; 2452 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 9/15/2028 (c) | &nbsp;&nbsp; 2793 | &nbsp;&nbsp; 2926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 4/1/2030 (c) | &nbsp;&nbsp; 454 | &nbsp;&nbsp; 468 |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc. 6.88%, 11/1/2029 (c) | &nbsp;&nbsp; 2357 | &nbsp;&nbsp; 2358 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc. 6.50%, 3/31/2029 (c) | &nbsp;&nbsp; 3945 | &nbsp;&nbsp; 3984 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc. 8.75%, 4/15/2030 (c) | &nbsp;&nbsp; 530 | &nbsp;&nbsp; 541 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc. 3.38%, 10/1/2028 (c) | &nbsp;&nbsp; 1931 | &nbsp;&nbsp; 1817 |
| &nbsp;&nbsp;&nbsp; CommScope LLC 4.75%, 9/1/2029 (c) | &nbsp;&nbsp; 1109 | &nbsp;&nbsp; 1077 |
| &nbsp;&nbsp;&nbsp; Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 3/15/2027 (c) | &nbsp;&nbsp; 1974 | &nbsp;&nbsp; 1977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2029 (c) | &nbsp;&nbsp; 3574 | &nbsp;&nbsp; 3397 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc. 6.75%, 3/1/2029 (c) | &nbsp;&nbsp; 1682 | &nbsp;&nbsp; 1663 |
| &nbsp;&nbsp;&nbsp; Corebridge Financial, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.85%), 6.88%, 12/15/2052 (e) | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp; CoreLogic, Inc. 4.50%, 5/1/2028 (c) | &nbsp;&nbsp; 1724 | &nbsp;&nbsp; 1625 |
| &nbsp;&nbsp;&nbsp; CoreWeave, Inc. 9.25%, 6/1/2030 (c) | &nbsp;&nbsp; 2606 | &nbsp;&nbsp; 2619 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 12/15/2028 (c) | &nbsp;&nbsp; 1340 | &nbsp;&nbsp; 1417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 3/15/2030 (c) | &nbsp;&nbsp; 544 | &nbsp;&nbsp; 551 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC 9.25%, 2/15/2028 (a) (c) | &nbsp;&nbsp; 1287 | &nbsp;&nbsp; 1336 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.25%, 5/15/2028 (c) | &nbsp;&nbsp; 946 | &nbsp;&nbsp; 951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.75%, 1/31/2029 (c) | &nbsp;&nbsp; 2496 | &nbsp;&nbsp; 2335 |
| &nbsp;&nbsp;&nbsp; CVR Partners LP 6.13%, 6/15/2028 (c) | &nbsp;&nbsp; 852 | &nbsp;&nbsp; 846 |
| &nbsp;&nbsp;&nbsp; Dcli Bidco LLC 7.75%, 11/15/2029 (c) | &nbsp;&nbsp; 591 | &nbsp;&nbsp; 603 |
| &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP 8.63%, 3/15/2029 (c) | &nbsp;&nbsp; 729 | &nbsp;&nbsp; 759 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 8/15/2027 (c) | &nbsp;&nbsp; 1905 | &nbsp;&nbsp; 1895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 2/1/2030 (c) | &nbsp;&nbsp; 2625 | &nbsp;&nbsp; 2556 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. 3.90%, 10/1/2025 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp; Duquesne Light Holdings, Inc. 3.62%, 8/1/2027 (c) | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 2322 |
| &nbsp;&nbsp;&nbsp; Edison International (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.86%), 8.13%, 6/15/2053 (a) (e) | &nbsp;&nbsp; 1312 | &nbsp;&nbsp; 1286 |
| &nbsp;&nbsp;&nbsp; Elastic NV 4.13%, 7/15/2029 (c) | &nbsp;&nbsp; 1566 | &nbsp;&nbsp; 1489 |
| &nbsp;&nbsp;&nbsp; Embecta Corp. 5.00%, 2/15/2030 (a) (c) | &nbsp;&nbsp; 1569 | &nbsp;&nbsp; 1423 |
| &nbsp;&nbsp;&nbsp; Encino Acquisition Partners Holdings LLC 8.50%, 5/1/2028 (c) | &nbsp;&nbsp; 1591 | &nbsp;&nbsp; 1625 |
| &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc. 9.25%, 4/1/2029 (c) | &nbsp;&nbsp; 1434 | &nbsp;&nbsp; 1510 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/15/2026 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.83%), 7.13%, 10/1/2054 (a) (e) | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. 0.90%, 9/15/2025 | &nbsp;&nbsp; 97 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com, Inc. 9.00%, 5/15/2028 (c) | &nbsp;&nbsp; 1832 | &nbsp;&nbsp; 1931 |
| &nbsp;&nbsp;&nbsp; Esab Corp. 6.25%, 4/15/2029 (c) | &nbsp;&nbsp; 1595 | &nbsp;&nbsp; 1630 |
| &nbsp;&nbsp;&nbsp; Excelerate Energy LP 8.00%, 5/15/2030 (c) | &nbsp;&nbsp; 876 | &nbsp;&nbsp; 917 |
| &nbsp;&nbsp;&nbsp; Ferrellgas LP 5.88%, 4/1/2029 (c) | &nbsp;&nbsp; 1799 | &nbsp;&nbsp; 1661 |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc. 4.63%, 9/1/2028 (c) | &nbsp;&nbsp; 1911 | &nbsp;&nbsp; 1868 |
| &nbsp;&nbsp;&nbsp; Five Point Operating Co. LP 10.50%, 1/15/2028 (c) (j) | &nbsp;&nbsp; 1462 | &nbsp;&nbsp; 1478 |
| &nbsp;&nbsp;&nbsp; Freedom Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 1/15/2027 (c) | &nbsp;&nbsp; 564 | &nbsp;&nbsp; 564 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.00%, 10/1/2028 (c) | &nbsp;&nbsp; 508 | &nbsp;&nbsp; 543 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/2027 (c) | &nbsp;&nbsp; 3247 | &nbsp;&nbsp; 3248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 5/1/2028 (c) | &nbsp;&nbsp; 2107 | &nbsp;&nbsp; 2104 |
| &nbsp;&nbsp;&nbsp; FTAI Aviation Investors LLC 5.50%, 5/1/2028 (c) | &nbsp;&nbsp; 780 | &nbsp;&nbsp; 778 |
| &nbsp;&nbsp;&nbsp; FTAI Infra Escrow Holdings LLC 10.50%, 6/1/2027 (c) | &nbsp;&nbsp; 247 | &nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp; Gap, Inc. (The) 3.63%, 10/1/2029 (c) | &nbsp;&nbsp; 1751 | &nbsp;&nbsp; 1616 |
| &nbsp;&nbsp;&nbsp; GCI LLC 4.75%, 10/15/2028 (c) | &nbsp;&nbsp; 1583 | &nbsp;&nbsp; 1528 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc. 6.75%, 9/30/2027 (c) | &nbsp;&nbsp; 1753 | &nbsp;&nbsp; 1782 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. 5.25%, 3/1/2026 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; Genting New York LLC 7.25%, 10/1/2029 (c) | &nbsp;&nbsp; 544 | &nbsp;&nbsp; 560 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. (The) 8.63%, 4/15/2029 | &nbsp;&nbsp; 1516 | &nbsp;&nbsp; 1610 |
| &nbsp;&nbsp;&nbsp; GFL Environmental, Inc. 4.38%, 8/15/2029 (c) | &nbsp;&nbsp; 1569 | &nbsp;&nbsp; 1519 |
| &nbsp;&nbsp;&nbsp; Global Net Lease, Inc. REIT, 3.75%, 12/15/2027 (c) | &nbsp;&nbsp; 1920 | &nbsp;&nbsp; 1830 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Bank USA (SOFR + 0.77%), 5.15%, 3/18/2027 (e) | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The) 0.88%, 1/21/2030 (b) | &nbsp;&nbsp; EUR3,080 | &nbsp;&nbsp; 3239 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The) 5.00%, 7/15/2029 | &nbsp;&nbsp; 1748 | &nbsp;&nbsp; 1696 |
| &nbsp;&nbsp;&nbsp; Gray Media, Inc. 10.50%, 7/15/2029 (c) | &nbsp;&nbsp; 1936 | &nbsp;&nbsp; 2095 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. 4.00%, 8/15/2028 (c) | &nbsp;&nbsp; 2116 | &nbsp;&nbsp; 2040 |
| &nbsp;&nbsp;&nbsp; Harvest Midstream I LP 7.50%, 9/1/2028 (c) | &nbsp;&nbsp; 1672 | &nbsp;&nbsp; 1692 |
| &nbsp;&nbsp;&nbsp; Heartland Dental LLC 10.50%, 4/30/2028 (c) | &nbsp;&nbsp; 1559 | &nbsp;&nbsp; 1643 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. 6.63%, 6/15/2029 (c) | &nbsp;&nbsp; 1086 | &nbsp;&nbsp; 1112 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (The) 12.63%, 7/15/2029 (c) | &nbsp;&nbsp; 1300 | &nbsp;&nbsp; 1358 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 3/1/2028 (c) | &nbsp;&nbsp; 633 | &nbsp;&nbsp; 643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/1/2029 (c) | &nbsp;&nbsp; 477 | &nbsp;&nbsp; 491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 2/15/2030 (c) | &nbsp;&nbsp; 1484 | &nbsp;&nbsp; 1436 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP 5.75%, 2/1/2029 (c) | &nbsp;&nbsp; 1927 | &nbsp;&nbsp; 1893 |
| &nbsp;&nbsp;&nbsp; Hillenbrand, Inc. 6.25%, 2/15/2029 | &nbsp;&nbsp; 1437 | &nbsp;&nbsp; 1455 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/1/2028 (c) | &nbsp;&nbsp; 951 | &nbsp;&nbsp; 951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 4/1/2029 (c) | &nbsp;&nbsp; 312 | &nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp; HLF Financing Sarl LLC 12.25%, 4/15/2029 (c) | &nbsp;&nbsp; 1872 | &nbsp;&nbsp; 2029 |
| &nbsp;&nbsp;&nbsp; Howard Hughes Corp. (The) 4.13%, 2/1/2029 (a) (c) | &nbsp;&nbsp; 485 | &nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd. 7.25%, 6/15/2030 (c) | &nbsp;&nbsp; 3039 | &nbsp;&nbsp; 3168 |
| &nbsp;&nbsp;&nbsp; Hunt Cos., Inc. 5.25%, 4/15/2029 (c) | &nbsp;&nbsp; 1544 | &nbsp;&nbsp; 1507 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America 4.30%, 9/24/2027 (c) | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; Icahn Enterprises LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/1/2029 | &nbsp;&nbsp; 1072 | &nbsp;&nbsp; 919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 11/15/2029 (c) | &nbsp;&nbsp; 770 | &nbsp;&nbsp; 780 |
| &nbsp;&nbsp;&nbsp; ICITII 6.00%, 1/31/2033 ‡ (b) | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp; Imola Merger Corp. 4.75%, 5/15/2029 (c) | &nbsp;&nbsp; 2679 | &nbsp;&nbsp; 2599 |
| &nbsp;&nbsp;&nbsp; Ingevity Corp. 3.88%, 11/1/2028 (c) | &nbsp;&nbsp; 1563 | &nbsp;&nbsp; 1487 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc. REIT, 7.00%, 2/15/2029 (c) | &nbsp;&nbsp; 1810 | &nbsp;&nbsp; 1859 |
| &nbsp;&nbsp;&nbsp; Jazz Securities DAC 4.38%, 1/15/2029 (c) | &nbsp;&nbsp; 2277 | &nbsp;&nbsp; 2203 |
| &nbsp;&nbsp;&nbsp; KeHE Distributors LLC 9.00%, 2/15/2029 (c) | &nbsp;&nbsp; 1797 | &nbsp;&nbsp; 1875 |
| &nbsp;&nbsp;&nbsp; KeyCorp (SOFRINDX + 2.42%), 6.40%, 3/6/2035 (e) | &nbsp;&nbsp; 1450 | &nbsp;&nbsp; 1550 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP 6.63%, 12/15/2028 (c) | &nbsp;&nbsp; 1941 | &nbsp;&nbsp; 1985 |
| &nbsp;&nbsp;&nbsp; Lamar Media Corp. 3.75%, 2/15/2028 | &nbsp;&nbsp; 1569 | &nbsp;&nbsp; 1516 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. 4.88%, 5/15/2028 (c) | &nbsp;&nbsp; 94 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/15/2029 (c) | &nbsp;&nbsp; 2683 | &nbsp;&nbsp; 2515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.00%, 11/15/2029 (c) | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/1/2030 (c) | &nbsp;&nbsp; 847 | &nbsp;&nbsp; 762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.31%), 4.13%, 12/15/2051 (c) <br> (e)<br>| &nbsp;&nbsp; 724 | &nbsp;&nbsp; 705 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc. 3.88%, 6/1/2029 (c) | &nbsp;&nbsp; 1765 | &nbsp;&nbsp; 1663 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. 3.75%, 1/15/2028 (c) | &nbsp;&nbsp; 1490 | &nbsp;&nbsp; 1448 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC 4.13%, 6/30/2028 (c) | &nbsp;&nbsp; 435 | &nbsp;&nbsp; 421 |
| &nbsp;&nbsp;&nbsp; Magnera Corp. 4.75%, 11/15/2029 (a) (c) | &nbsp;&nbsp; 1617 | &nbsp;&nbsp; 1429 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. 6.88%, 4/15/2028 (c) | &nbsp;&nbsp; 420 | &nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co. 7.88%, 4/15/2027 (c) | &nbsp;&nbsp; 1699 | &nbsp;&nbsp; 1714 |
| &nbsp;&nbsp;&nbsp; McGraw-Hill Education, Inc. 5.75%, 8/1/2028 (c) | &nbsp;&nbsp; 2222 | &nbsp;&nbsp; 2213 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/1/2029 (c) | &nbsp;&nbsp; 3316 | &nbsp;&nbsp; 3162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 4/1/2029 (c) | &nbsp;&nbsp; 2482 | &nbsp;&nbsp; 2531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/1/2029 (c) | &nbsp;&nbsp; 1860 | &nbsp;&nbsp; 1824 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International 4.75%, 10/15/2028 | &nbsp;&nbsp; 376 | &nbsp;&nbsp; 371 |
| &nbsp;&nbsp;&nbsp; Michaels Cos., Inc. (The) 5.25%, 5/1/2028 (c) | &nbsp;&nbsp; 2071 | &nbsp;&nbsp; 1642 |
| &nbsp;&nbsp;&nbsp; Midcap Financial Issuer Trust 6.50%, 5/1/2028 (c) | &nbsp;&nbsp; 1661 | &nbsp;&nbsp; 1647 |
| &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority 8.25%, 4/15/2030 (c) | &nbsp;&nbsp; 1624 | &nbsp;&nbsp; 1684 |
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 1/15/2027 (c) | &nbsp;&nbsp; 753 | &nbsp;&nbsp; 754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 8/15/2028 (c) | &nbsp;&nbsp; 1018 | &nbsp;&nbsp; 1017 |
| &nbsp;&nbsp;&nbsp; Navient Corp. 5.50%, 3/15/2029 | &nbsp;&nbsp; 1971 | &nbsp;&nbsp; 1928 |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd. 8.13%, 1/15/2029 (c) | &nbsp;&nbsp; 2061 | &nbsp;&nbsp; 2165 |
| &nbsp;&nbsp;&nbsp; NCR Atleos Corp. 9.50%, 4/1/2029 (c) | &nbsp;&nbsp; 2028 | &nbsp;&nbsp; 2197 |
| &nbsp;&nbsp;&nbsp; NCR Voyix Corp. 5.00%, 10/1/2028 (c) | &nbsp;&nbsp; 1596 | &nbsp;&nbsp; 1570 |
| &nbsp;&nbsp;&nbsp; Neptune Bidco US, Inc. 9.29%, 4/15/2029 (c) | &nbsp;&nbsp; 1688 | &nbsp;&nbsp; 1634 |
| &nbsp;&nbsp;&nbsp; NESCO Holdings II, Inc. 5.50%, 4/15/2029 (c) | &nbsp;&nbsp; 1833 | &nbsp;&nbsp; 1787 |
| &nbsp;&nbsp;&nbsp; New Enterprise Stone & Lime Co., Inc. 5.25%, 7/15/2028 (c) | &nbsp;&nbsp; 1519 | &nbsp;&nbsp; 1508 |
| &nbsp;&nbsp;&nbsp; New Fortress Energy, Inc. 6.50%, 9/30/2026 (a) (c) | &nbsp;&nbsp; 2911 | &nbsp;&nbsp; 1019 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 9/15/2027 | &nbsp;&nbsp; 1829 | &nbsp;&nbsp; 1843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 6/1/2028 (c) | &nbsp;&nbsp; 1068 | &nbsp;&nbsp; 1119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 9/15/2029 | &nbsp;&nbsp; 469 | &nbsp;&nbsp; 467 |
| &nbsp;&nbsp;&nbsp; Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 7/15/2027 (c) | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/1/2028 (a) (c) | &nbsp;&nbsp; 1684 | &nbsp;&nbsp; 1637 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. 5.75%, 9/1/2025 | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; NFE Financing LLC 12.00%, 11/15/2029 (c) | &nbsp;&nbsp; 1507 | &nbsp;&nbsp; 534 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC 8.13%, 2/15/2029 (c) | &nbsp;&nbsp; 1770 | &nbsp;&nbsp; 1752 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 3/9/2026 (c) | &nbsp;&nbsp; 1086 | &nbsp;&nbsp; 1065 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 3/9/2028 (c) | &nbsp;&nbsp; 1792 | &nbsp;&nbsp; 1661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 9/15/2028 (c) | &nbsp;&nbsp; 247 | &nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp; Noble Finance II LLC 8.00%, 4/15/2030 (c) | &nbsp;&nbsp; 2134 | &nbsp;&nbsp; 2177 |
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. 8.13%, 3/1/2028 (c) | &nbsp;&nbsp; 1599 | &nbsp;&nbsp; 1615 |
| &nbsp;&nbsp;&nbsp; Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/2026 (c) | &nbsp;&nbsp; 609 | &nbsp;&nbsp; 599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 1/30/2030 (c) | &nbsp;&nbsp; 1585 | &nbsp;&nbsp; 1633 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 2/15/2029 (c) | &nbsp;&nbsp; 906 | &nbsp;&nbsp; 850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 7/15/2029 (c) | &nbsp;&nbsp; 1204 | &nbsp;&nbsp; 1193 |
| &nbsp;&nbsp;&nbsp; Olympus Water US Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/1/2028 (c) | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 11/15/2028 (c) | &nbsp;&nbsp; 2723 | &nbsp;&nbsp; 2855 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. 3.88%, 9/1/2028 (c) | &nbsp;&nbsp; 1232 | &nbsp;&nbsp; 1191 |
| &nbsp;&nbsp;&nbsp; OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 1/15/2027 | &nbsp;&nbsp; 3049 | &nbsp;&nbsp; 2975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 1/15/2029 | &nbsp;&nbsp; 351 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 5/15/2029 | &nbsp;&nbsp; 609 | &nbsp;&nbsp; 622 |
| &nbsp;&nbsp;&nbsp; OneSky Flight LLC 8.88%, 12/15/2029 (c) | &nbsp;&nbsp; 852 | &nbsp;&nbsp; 898 |
| &nbsp;&nbsp;&nbsp; Organon & Co. 4.13%, 4/30/2028 (c) | &nbsp;&nbsp; 2768 | &nbsp;&nbsp; 2620 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC 4.25%, 1/15/2029 (c) | &nbsp;&nbsp; 1511 | &nbsp;&nbsp; 1439 |
| &nbsp;&nbsp;&nbsp; Paramount Global (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.00%), 6.38%, 3/30/2062 (e) | &nbsp;&nbsp; 1114 | &nbsp;&nbsp; 1097 |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC REIT, 5.88%, 10/1/2028 (c) | &nbsp;&nbsp; 2222 | &nbsp;&nbsp; 2213 |
| &nbsp;&nbsp;&nbsp; Pattern Energy Operations LP 4.50%, 8/15/2028 (c) | &nbsp;&nbsp; 264 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 2/15/2028 | &nbsp;&nbsp; 2068 | &nbsp;&nbsp; 1990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 3/15/2030 (c) | &nbsp;&nbsp; 298 | &nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc. 7.88%, 12/15/2029 (c) | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp; Penske Automotive Group, Inc. 3.75%, 6/15/2029 | &nbsp;&nbsp; 1536 | &nbsp;&nbsp; 1454 |
| &nbsp;&nbsp;&nbsp; Penske Truck Leasing Co. LP 1.20%, 11/15/2025 (c) | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc. 5.50%, 10/15/2027 (c) | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC 8.00%, 4/15/2027 (c) | &nbsp;&nbsp; 2001 | &nbsp;&nbsp; 2046 |
| &nbsp;&nbsp;&nbsp; PetSmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 2/15/2028 (c) | &nbsp;&nbsp; 900 | &nbsp;&nbsp; 883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 2/15/2029 (c) | &nbsp;&nbsp; 2022 | &nbsp;&nbsp; 1979 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. 5.00%, 7/1/2028 | &nbsp;&nbsp; 1064 | &nbsp;&nbsp; 1038 |
| &nbsp;&nbsp;&nbsp; Phinia, Inc. 6.75%, 4/15/2029 (c) | &nbsp;&nbsp; 1449 | &nbsp;&nbsp; 1491 |
| &nbsp;&nbsp;&nbsp; Pike Corp. 5.50%, 9/1/2028 (c) | &nbsp;&nbsp; 1638 | &nbsp;&nbsp; 1631 |
| &nbsp;&nbsp;&nbsp; Playtika Holding Corp. 4.25%, 3/15/2029 (c) | &nbsp;&nbsp; 1636 | &nbsp;&nbsp; 1496 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc. 8.88%, 1/31/2030 (c) | &nbsp;&nbsp; 474 | &nbsp;&nbsp; 492 |
| &nbsp;&nbsp;&nbsp; Prime Healthcare Services, Inc. 9.38%, 9/1/2029 (c) | &nbsp;&nbsp; 1334 | &nbsp;&nbsp; 1326 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 8/31/2027 (c) | &nbsp;&nbsp; 1622 | &nbsp;&nbsp; 1564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2028 (c) | &nbsp;&nbsp; 263 | &nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp; Primo Water Holdings, Inc. 4.38%, 4/30/2029 (c) | &nbsp;&nbsp; 155 | &nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; QVC, Inc. 6.88%, 4/15/2029 (a) (c) | &nbsp;&nbsp; 1387 | &nbsp;&nbsp; 623 |
| &nbsp;&nbsp;&nbsp; Raising Cane's Restaurants LLC 9.38%, 5/1/2029 (c) | &nbsp;&nbsp; 1403 | &nbsp;&nbsp; 1480 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. 8.25%, 1/15/2029 | &nbsp;&nbsp; 1850 | &nbsp;&nbsp; 1897 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp. REIT, 4.88%, 7/6/2030 | &nbsp;&nbsp; EUR1,600 | &nbsp;&nbsp; 1970 |
| &nbsp;&nbsp;&nbsp; Reworld Holding Corp. 4.88%, 12/1/2029 (c) | &nbsp;&nbsp; 1739 | &nbsp;&nbsp; 1661 |
| &nbsp;&nbsp;&nbsp; RLJ Lodging Trust LP REIT, 3.75%, 7/1/2026 (c) | &nbsp;&nbsp; 1864 | &nbsp;&nbsp; 1836 |
| &nbsp;&nbsp;&nbsp; ROBLOX Corp. 3.88%, 5/1/2030 (c) | &nbsp;&nbsp; 1936 | &nbsp;&nbsp; 1822 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC 2.88%, 10/15/2026 (c) | &nbsp;&nbsp; 2580 | &nbsp;&nbsp; 2516 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc. 9.00%, 11/28/2028 (c) | &nbsp;&nbsp; 2089 | &nbsp;&nbsp; 2156 |
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co. 9.50%, 8/1/2029 (c) | &nbsp;&nbsp; 1844 | &nbsp;&nbsp; 1884 |
| &nbsp;&nbsp;&nbsp; Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 6/1/2027 (c) | &nbsp;&nbsp; 921 | &nbsp;&nbsp; 936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.25%, 12/15/2027 (c) | &nbsp;&nbsp; 318 | &nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC 11.00%, 12/15/2029 (c) | &nbsp;&nbsp; 3252 | &nbsp;&nbsp; 732 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REIT, 3.88%, 2/15/2027 | &nbsp;&nbsp; 422 | &nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REIT, 3.13%, 2/1/2029 | &nbsp;&nbsp; 3098 | &nbsp;&nbsp; 2887 |
| &nbsp;&nbsp;&nbsp; SCIH Salt Holdings, Inc. 4.88%, 5/1/2028 (c) | &nbsp;&nbsp; 2520 | &nbsp;&nbsp; 2447 |
| &nbsp;&nbsp;&nbsp; SCIL IV LLC 5.38%, 11/1/2026 (c) | &nbsp;&nbsp; 1677 | &nbsp;&nbsp; 1668 |
| &nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc. 3.88%, 1/15/2029 (c) | &nbsp;&nbsp; 2085 | &nbsp;&nbsp; 1851 |
| &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd. 8.25%, 12/15/2029 (c) | &nbsp;&nbsp; 856 | &nbsp;&nbsp; 912 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp. 6.13%, 2/1/2028 (c) | &nbsp;&nbsp; 1653 | &nbsp;&nbsp; 1669 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV 4.00%, 4/15/2029 (c) | &nbsp;&nbsp; 1912 | &nbsp;&nbsp; 1817 |
| &nbsp;&nbsp;&nbsp; Service Properties Trust REIT, 8.38%, 6/15/2029 | &nbsp;&nbsp; 404 | &nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp; SGUS LLC 11.00%, 12/15/2029 (c) | &nbsp;&nbsp; 896 | &nbsp;&nbsp; 837 |
| &nbsp;&nbsp;&nbsp; Simmons Foods, Inc. 4.63%, 3/1/2029 (c) | &nbsp;&nbsp; 1797 | &nbsp;&nbsp; 1701 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC 4.00%, 7/15/2028 (c) | &nbsp;&nbsp; 3471 | &nbsp;&nbsp; 3304 |
| &nbsp;&nbsp;&nbsp; Sitio Royalties Operating Partnership LP 7.88%, 11/1/2028 (c) | &nbsp;&nbsp; 719 | &nbsp;&nbsp; 750 |
| &nbsp;&nbsp;&nbsp; SLM Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/2/2026 | &nbsp;&nbsp; 1787 | &nbsp;&nbsp; 1746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 1/31/2030 | &nbsp;&nbsp; 130 | &nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. 6.75%, 8/1/2029 (c) | &nbsp;&nbsp; 1137 | &nbsp;&nbsp; 1138 |
| &nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete LLC 6.00%, 11/1/2028 (c) | &nbsp;&nbsp; 858 | &nbsp;&nbsp; 855 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc. 4.00%, 4/15/2029 (c) | &nbsp;&nbsp; 1757 | &nbsp;&nbsp; 1669 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc. 4.63%, 11/15/2029 (a) (c) | &nbsp;&nbsp; 939 | &nbsp;&nbsp; 903 |
| &nbsp;&nbsp;&nbsp; Southern Power Co. 1.85%, 6/20/2026 | &nbsp;&nbsp; EUR150 | &nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc. 9.38%, 11/30/2029 (c) | &nbsp;&nbsp; 1718 | &nbsp;&nbsp; 1815 |
| &nbsp;&nbsp;&nbsp; Stagwell Global LLC 5.63%, 8/15/2029 (c) | &nbsp;&nbsp; 1978 | &nbsp;&nbsp; 1904 |
| &nbsp;&nbsp;&nbsp; Staples, Inc. 10.75%, 9/1/2029 (c) | &nbsp;&nbsp; 3446 | &nbsp;&nbsp; 3231 |
| &nbsp;&nbsp;&nbsp; Star Leasing Co. LLC 7.63%, 2/15/2030 (c) | &nbsp;&nbsp; 1618 | &nbsp;&nbsp; 1596 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc. REIT, 7.25%, 4/1/2029 (c) | &nbsp;&nbsp; 1855 | &nbsp;&nbsp; 1940 |
| &nbsp;&nbsp;&nbsp; Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/15/2027 | &nbsp;&nbsp; 694 | &nbsp;&nbsp; 694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 9/15/2028 (c) | &nbsp;&nbsp; 2492 | &nbsp;&nbsp; 2567 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 10/1/2028 | &nbsp;&nbsp; 3580 | &nbsp;&nbsp; 3580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/15/2030 | &nbsp;&nbsp; 2368 | &nbsp;&nbsp; 2277 |
| &nbsp;&nbsp;&nbsp; Tenneco, Inc. 8.00%, 11/17/2028 (c) | &nbsp;&nbsp; 2546 | &nbsp;&nbsp; 2527 |
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC 5.50%, 9/1/2041 | &nbsp;&nbsp; 2650 | &nbsp;&nbsp; 2381 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 8/15/2028 (c) | &nbsp;&nbsp; 2745 | &nbsp;&nbsp; 2801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/15/2029 | &nbsp;&nbsp; 3677 | &nbsp;&nbsp; 3595 |
| &nbsp;&nbsp;&nbsp; Travel + Leisure Co. 6.63%, 7/31/2026 (c) | &nbsp;&nbsp; 2026 | &nbsp;&nbsp; 2041 |
| &nbsp;&nbsp;&nbsp; TriNet Group, Inc. 3.50%, 3/1/2029 (c) | &nbsp;&nbsp; 1544 | &nbsp;&nbsp; 1436 |
| &nbsp;&nbsp;&nbsp; Trinity Industries, Inc. 7.75%, 7/15/2028 (c) | &nbsp;&nbsp; 1483 | &nbsp;&nbsp; 1544 |
| &nbsp;&nbsp;&nbsp; Tronox, Inc. 4.63%, 3/15/2029 (c) | &nbsp;&nbsp; 453 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc. 4.00%, 3/1/2029 (c) | &nbsp;&nbsp; 1515 | &nbsp;&nbsp; 1442 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc. 3.63%, 3/15/2029 | &nbsp;&nbsp; 1305 | &nbsp;&nbsp; 1236 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/2025 (c) | &nbsp;&nbsp; 1349 | &nbsp;&nbsp; 1349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/15/2029 (c) | &nbsp;&nbsp; 361 | &nbsp;&nbsp; 353 |
| &nbsp;&nbsp;&nbsp; Uniti Group LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REIT, 10.50%, 2/15/2028 (c) | &nbsp;&nbsp; 2738 | &nbsp;&nbsp; 2894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REIT, 4.75%, 4/15/2028 (c) | &nbsp;&nbsp; 1882 | &nbsp;&nbsp; 1824 |
| &nbsp;&nbsp;&nbsp; Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 8/15/2028 (c) | &nbsp;&nbsp; 2602 | &nbsp;&nbsp; 2673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/1/2029 (c) | &nbsp;&nbsp; 1062 | &nbsp;&nbsp; 983 |
| &nbsp;&nbsp;&nbsp; Urban One, Inc. 7.38%, 2/1/2028 (c) | &nbsp;&nbsp; 1516 | &nbsp;&nbsp; 883 |
| &nbsp;&nbsp;&nbsp; US Foods, Inc. 4.75%, 2/15/2029 (c) | &nbsp;&nbsp; 595 | &nbsp;&nbsp; 583 |
| &nbsp;&nbsp;&nbsp; UWM Holdings LLC 6.63%, 2/1/2030 (c) | &nbsp;&nbsp; 1667 | &nbsp;&nbsp; 1668 |
| &nbsp;&nbsp;&nbsp; Valaris Ltd. 8.38%, 4/30/2030 (c) | &nbsp;&nbsp; 700 | &nbsp;&nbsp; 723 |
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 8/15/2029 (c) | &nbsp;&nbsp; 1503 | &nbsp;&nbsp; 1419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/15/2030 (c) | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 6/1/2028 (c) | &nbsp;&nbsp; 387 | &nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 2/1/2029 (c) | &nbsp;&nbsp; 2052 | &nbsp;&nbsp; 2238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/15/2030 (c) | &nbsp;&nbsp; 3835 | &nbsp;&nbsp; 3889 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp. 4.13%, 11/15/2028 (c) | &nbsp;&nbsp; 1009 | &nbsp;&nbsp; 981 |
| &nbsp;&nbsp;&nbsp; Victoria's Secret & Co. 4.63%, 7/15/2029 (a) (c) | &nbsp;&nbsp; 1606 | &nbsp;&nbsp; 1495 |
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd. 7.00%, 2/15/2029 (c) | &nbsp;&nbsp; 1440 | &nbsp;&nbsp; 1451 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC 5.00%, 7/31/2027 (c) | &nbsp;&nbsp; 2006 | &nbsp;&nbsp; 1995 |
| &nbsp;&nbsp;&nbsp; Walgreens Boots Alliance, Inc. 8.13%, 8/15/2029 | &nbsp;&nbsp; 954 | &nbsp;&nbsp; 1024 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. 4.30%, 1/17/2030 | &nbsp;&nbsp; EUR888 | &nbsp;&nbsp; 957 |
| &nbsp;&nbsp;&nbsp; Wayfair LLC 7.25%, 10/31/2029 (c) | &nbsp;&nbsp; 1687 | &nbsp;&nbsp; 1716 |
| &nbsp;&nbsp;&nbsp; Weatherford International Ltd. 8.63%, 4/30/2030 (c) | &nbsp;&nbsp; 2296 | &nbsp;&nbsp; 2359 |
| &nbsp;&nbsp;&nbsp; Wesco Aircraft Holdings, Inc. 9.00%, 11/15/2026 ‡ (a) (c) (k) | &nbsp;&nbsp; 197 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc. 7.25%, 6/15/2028 (c) | &nbsp;&nbsp; 1789 | &nbsp;&nbsp; 1813 |
| &nbsp;&nbsp;&nbsp; Westlake Corp. 1.63%, 7/17/2029 | &nbsp;&nbsp; EUR2,350 | &nbsp;&nbsp; 2529 |
| &nbsp;&nbsp;&nbsp; Whirlpool Corp. 6.13%, 6/15/2030 | &nbsp;&nbsp; 1129 | &nbsp;&nbsp; 1126 |
| &nbsp;&nbsp;&nbsp; Williams Scotsman, Inc. 4.63%, 8/15/2028 (c) | &nbsp;&nbsp; 1616 | &nbsp;&nbsp; 1590 |
| &nbsp;&nbsp;&nbsp; Windstream Escrow LLC 7.75%, 8/15/2028 ‡ | &nbsp;&nbsp; 4 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; WPC Eurobond BV REIT, 1.35%, 4/15/2028 | &nbsp;&nbsp; EUR2,350 | &nbsp;&nbsp; 2584 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC 4.88%, 6/15/2027 (c) | &nbsp;&nbsp; 2421 | &nbsp;&nbsp; 2407 |
| &nbsp;&nbsp;&nbsp; Xerox Holdings Corp. 5.00%, 8/15/2025 (c) | &nbsp;&nbsp; 114 | &nbsp;&nbsp; 114 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; ZipRecruiter, Inc. 5.00%, 1/15/2030 (c) | &nbsp;&nbsp; 1689 | &nbsp;&nbsp; 1278 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies LLC 3.88%, 2/1/2029 (c) | &nbsp;&nbsp; 1646 | &nbsp;&nbsp; 1547 |
|  |  | &nbsp;&nbsp; 451688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $584,449)<br>|  | &nbsp;&nbsp; 591505 |
| **Foreign Government Securities — 10.7%** | **Foreign Government Securities — 10.7%** | **Foreign Government Securities — 10.7%** |
| **Australia — 0.4%** | **Australia — 0.4%** | **Australia — 0.4%** |
| &nbsp;&nbsp;&nbsp; Commonwealth of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 6/21/2051 (b) | &nbsp;&nbsp; AUD890 | &nbsp;&nbsp; 304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/21/2054 (b) | &nbsp;&nbsp; AUD5,295 | &nbsp;&nbsp; 3293 |
| &nbsp;&nbsp;&nbsp; New South Wales Treasury Corp. 4.75%, 2/20/2035 (b) | &nbsp;&nbsp; AUD5,585 | &nbsp;&nbsp; 3574 |
| &nbsp;&nbsp;&nbsp; Treasury Corp. of Victoria 2.25%, 9/15/2033 (b) | &nbsp;&nbsp; AUD6,715 | &nbsp;&nbsp; 3611 |
|  |  | &nbsp;&nbsp; 10782 |
| **Belgium — 0.3%** | **Belgium — 0.3%** | **Belgium — 0.3%** |
| &nbsp;&nbsp;&nbsp; Dexia SA 0.25%, 12/10/2026 (b) | &nbsp;&nbsp; GBP4,200 | &nbsp;&nbsp; 5271 |
| &nbsp;&nbsp;&nbsp; Kingdom of Belgium |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 6/22/2037 (b) | &nbsp;&nbsp; EUR473 | &nbsp;&nbsp; 438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 6/22/2038 (b) | &nbsp;&nbsp; EUR995 | &nbsp;&nbsp; 949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 6/22/2045 (b) | &nbsp;&nbsp; EUR575 | &nbsp;&nbsp; 651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 6/22/2047 (b) | &nbsp;&nbsp; EUR267 | &nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 6/22/2050 (b) | &nbsp;&nbsp; EUR1,276 | &nbsp;&nbsp; 938 |
|  |  | &nbsp;&nbsp; 8450 |
| **Canada — 1.5%** | **Canada — 1.5%** | **Canada — 1.5%** |
| &nbsp;&nbsp;&nbsp; Province of Alberta 2.90%, 12/1/2028 | &nbsp;&nbsp; CAD410 | &nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp; Province of British Columbia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 6/18/2037 | &nbsp;&nbsp; CAD880 | &nbsp;&nbsp; 663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 6/18/2050 | &nbsp;&nbsp; CAD505 | &nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp; Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01%, 11/25/2030 (b) | &nbsp;&nbsp; EUR5,800 | &nbsp;&nbsp; 5732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 12/2/2034 | &nbsp;&nbsp; CAD27,925 | &nbsp;&nbsp; 19914 |
| &nbsp;&nbsp;&nbsp; Province of Quebec 4.00%, 9/1/2035 | &nbsp;&nbsp; CAD21,435 | &nbsp;&nbsp; 15414 |
|  |  | &nbsp;&nbsp; 42291 |
| **Chile — 0.0% ^** | **Chile — 0.0% ^** | **Chile — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Chile 3.75%, 1/14/2032 | &nbsp;&nbsp; EUR483 | &nbsp;&nbsp; 561 |
| **Czech Republic — 0.0% ^** | **Czech Republic — 0.0% ^** | **Czech Republic — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Czech Republic 4.50%, 11/11/2032 | &nbsp;&nbsp; CZK23,440 | &nbsp;&nbsp; 1109 |
| **Denmark — 0.1%** | **Denmark — 0.1%** | **Denmark — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Denmark |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 11/15/2025 | &nbsp;&nbsp; DKK2,373 | &nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 11/15/2027 | &nbsp;&nbsp; DKK3,009 | &nbsp;&nbsp; 447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 11/15/2029 | &nbsp;&nbsp; DKK4,850 | &nbsp;&nbsp; 696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/2033 | &nbsp;&nbsp; DKK1,145 | &nbsp;&nbsp; 173 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Denmark — continued** | **Denmark — continued** | **Denmark — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2039 | &nbsp;&nbsp; DKK3,192 | &nbsp;&nbsp; 589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25%, 11/15/2052 | &nbsp;&nbsp; DKK2,400 | &nbsp;&nbsp; 190 |
|  |  | &nbsp;&nbsp; 2458 |
| **France — 0.0% ^** | **France — 0.0% ^** | **France — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; French Republic 2.70%, 2/25/2031 (b) | &nbsp;&nbsp; EUR5 | &nbsp;&nbsp; 6 |
| **Germany — 0.1%** | **Germany — 0.1%** | **Germany — 0.1%** |
| &nbsp;&nbsp;&nbsp; Bundesrepublik Deutschland 2.90%, 8/15/2056 (b) | &nbsp;&nbsp; EUR1,920 | &nbsp;&nbsp; 2074 |
| **Guatemala — 0.0% ^** | **Guatemala — 0.0% ^** | **Guatemala — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Guatemala 6.25%, 8/15/2036 (c) | &nbsp;&nbsp; 611 | &nbsp;&nbsp; 614 |
| **Hungary — 0.5%** | **Hungary — 0.5%** | **Hungary — 0.5%** |
| &nbsp;&nbsp;&nbsp; Hungary Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 9/21/2028 (c) | &nbsp;&nbsp; EUR3,974 | &nbsp;&nbsp; 4148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 9/22/2031 (c) | &nbsp;&nbsp; 1158 | &nbsp;&nbsp; 967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 9/12/2033 (b) | &nbsp;&nbsp; EUR300 | &nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 6/5/2035 (b) | &nbsp;&nbsp; EUR300 | &nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/24/2035 | &nbsp;&nbsp; HUF2,781,150 | &nbsp;&nbsp; 7821 |
|  |  | &nbsp;&nbsp; 13580 |
| **Indonesia — 0.1%** | **Indonesia — 0.1%** | **Indonesia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Indonesia 6.63%, 2/15/2034 | &nbsp;&nbsp; IDR62,329,000 | &nbsp;&nbsp; 3791 |
| **Italy — 2.7%** | **Italy — 2.7%** | **Italy — 2.7%** |
| &nbsp;&nbsp;&nbsp; Buoni Poliennali del Tesoro |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 7/1/2030 (b) | &nbsp;&nbsp; EUR43,695 | &nbsp;&nbsp; 50385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 2/1/2035 (b) | &nbsp;&nbsp; EUR10,905 | &nbsp;&nbsp; 12899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 8/1/2035 (b) | &nbsp;&nbsp; EUR7,560 | &nbsp;&nbsp; 8754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/1/2054 (b) | &nbsp;&nbsp; EUR2,720 | &nbsp;&nbsp; 3089 |
|  |  | &nbsp;&nbsp; 75127 |
| **Japan — 1.4%** | **Japan — 1.4%** | **Japan — 1.4%** |
| &nbsp;&nbsp;&nbsp; Japan Bank for International Cooperation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/26/2026 | &nbsp;&nbsp; 2264 | &nbsp;&nbsp; 2261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 1/20/2027 | &nbsp;&nbsp; 674 | &nbsp;&nbsp; 649 |
| &nbsp;&nbsp;&nbsp; Japan Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 6/20/2035 | &nbsp;&nbsp; JPY1,217,550 | &nbsp;&nbsp; 8033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 9/20/2043 | &nbsp;&nbsp; JPY3,543,850 | &nbsp;&nbsp; 20348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 3/20/2052 | &nbsp;&nbsp; JPY1,081,550 | &nbsp;&nbsp; 4598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 3/20/2055 | &nbsp;&nbsp; JPY296,250 | &nbsp;&nbsp; 1339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 3/20/2055 | &nbsp;&nbsp; JPY296,550 | &nbsp;&nbsp; 1721 |
|  |  | &nbsp;&nbsp; 38949 |
| **Mexico — 0.6%** | **Mexico — 0.6%** | **Mexico — 0.6%** |
| &nbsp;&nbsp;&nbsp; Mex Bonos Desarr Fix Rt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 5/29/2031 | &nbsp;&nbsp; MXN251,000 | &nbsp;&nbsp; 12636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 11/23/2034 | &nbsp;&nbsp; MXN34,000 | &nbsp;&nbsp; 1634 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Mexico — continued** | **Mexico — continued** | **Mexico — continued** |
| &nbsp;&nbsp;&nbsp; United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 2/9/2028 | &nbsp;&nbsp; 964 | &nbsp;&nbsp; 978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.66%, 5/24/2031 | &nbsp;&nbsp; 1110 | &nbsp;&nbsp; 958 |
|  |  | &nbsp;&nbsp; 16206 |
| **Netherlands — 0.0% ^** | **Netherlands — 0.0% ^** | **Netherlands — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Kingdom of Netherlands |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 1/15/2040 (b) | &nbsp;&nbsp; EUR340 | &nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 1/15/2042 (b) | &nbsp;&nbsp; EUR27 | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 1/15/2047 (b) | &nbsp;&nbsp; EUR1,030 | &nbsp;&nbsp; 1085 |
|  |  | &nbsp;&nbsp; 1388 |
| **Peru — 0.0% ^** | **Peru — 0.0% ^** | **Peru — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of Peru 1.86%, 12/1/2032 | &nbsp;&nbsp; 487 | &nbsp;&nbsp; 390 |
| **Romania — 0.0% ^** | **Romania — 0.0% ^** | **Romania — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Romania Government Bond 2.00%, 4/14/2033 (c) | &nbsp;&nbsp; EUR1,270 | &nbsp;&nbsp; 1142 |
| **Saudi Arabia — 0.1%** | **Saudi Arabia — 0.1%** | **Saudi Arabia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Saudi Arabia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/18/2028 (c) | &nbsp;&nbsp; 2350 | &nbsp;&nbsp; 2365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 2/2/2033 (c) | &nbsp;&nbsp; 914 | &nbsp;&nbsp; 770 |
|  |  | &nbsp;&nbsp; 3135 |
| **South Africa — 0.0% ^** | **South Africa — 0.0% ^** | **South Africa — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Republic of South Africa 4.85%, 9/30/2029 | &nbsp;&nbsp; 900 | &nbsp;&nbsp; 867 |
| **South Korea — 0.3%** | **South Korea — 0.3%** | **South Korea — 0.3%** |
| &nbsp;&nbsp;&nbsp; Export-Import Bank of Korea |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 9/21/2025 | &nbsp;&nbsp; 4217 | &nbsp;&nbsp; 4196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 1/11/2026 | &nbsp;&nbsp; 1394 | &nbsp;&nbsp; 1397 |
| &nbsp;&nbsp;&nbsp; Republic of Korea 0.00%, 9/16/2025 | &nbsp;&nbsp; EUR1,276 | &nbsp;&nbsp; 1448 |
|  |  | &nbsp;&nbsp; 7041 |
| **Spain — 0.9%** | **Spain — 0.9%** | **Spain — 0.9%** |
| &nbsp;&nbsp;&nbsp; Bonos and Obligaciones del Estado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 1/31/2030 | &nbsp;&nbsp; EUR70 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 10/31/2035 (b) | &nbsp;&nbsp; EUR6,270 | &nbsp;&nbsp; 7116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/31/2054 (b) | &nbsp;&nbsp; EUR16,903 | &nbsp;&nbsp; 19092 |
|  |  | &nbsp;&nbsp; 26289 |
| **Sweden — 0.1%** | **Sweden — 0.1%** | **Sweden — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Sweden |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 11/12/2026 (b) | &nbsp;&nbsp; SEK5,010 | &nbsp;&nbsp; 506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 5/12/2028 (b) | &nbsp;&nbsp; SEK1,985 | &nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 11/12/2029 (b) | &nbsp;&nbsp; SEK5,915 | &nbsp;&nbsp; 572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/30/2039 (b) | &nbsp;&nbsp; SEK2,505 | &nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 11/24/2045 (b) | &nbsp;&nbsp; SEK470 | &nbsp;&nbsp; 32 |
|  |  | &nbsp;&nbsp; 1587 |
| **Thailand — 0.3%** | **Thailand — 0.3%** | **Thailand — 0.3%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Thailand 2.80%, 6/17/2034 | &nbsp;&nbsp; THB229,930 | &nbsp;&nbsp; 7783 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **United Kingdom — 1.3%** | **United Kingdom — 1.3%** | **United Kingdom — 1.3%** |
| &nbsp;&nbsp;&nbsp; United Kingdom of Great Britain and Northern Ireland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/7/2035 (b) | &nbsp;&nbsp; GBP14,640 | &nbsp;&nbsp; 19231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 7/31/2054 (b) | &nbsp;&nbsp; GBP15,585 | &nbsp;&nbsp; 17572 |
|  |  | &nbsp;&nbsp; 36803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government Securities <br>(Cost $308,661)<br>|  | &nbsp;&nbsp; 302423 |
|  | **SHARES** <br>**(000)**<br>|  |
| **Investment Companies — 4.0%** | **Investment Companies — 4.0%** | **Investment Companies — 4.0%** |
| **United States — 4.0%** |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Income Fund, Class R6 Shares (l)(Cost $112,653) | &nbsp;&nbsp; 13119 | &nbsp;&nbsp; 112428 |
| **Exchange-Traded Funds — 3.4%** | **Exchange-Traded Funds — 3.4%** | **Exchange-Traded Funds — 3.4%** |
| **United States — 3.4%** | **United States — 3.4%** | **United States — 3.4%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Income ETF (l)(Cost $95,792) | &nbsp;&nbsp; 2095 | &nbsp;&nbsp; 96803 |
|  | **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **U.S. Treasury Obligations — 1.7%** | **U.S. Treasury Obligations — 1.7%** | **U.S. Treasury Obligations — 1.7%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds 4.75%, 2/15/2045 | &nbsp;&nbsp; 935 | &nbsp;&nbsp; 919 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Inflation Linked Notes 1.63%, 10/15/2029 | &nbsp;&nbsp; 12638 | &nbsp;&nbsp; 12799 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/31/2026 (m) | &nbsp;&nbsp; 35445 | &nbsp;&nbsp; 35424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 9/15/2027 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $49,480)<br>|  | &nbsp;&nbsp; 49340 |
| **Mortgage-Backed Securities — 0.8%** | **Mortgage-Backed Securities — 0.8%** | **Mortgage-Backed Securities — 0.8%** |
| **United States — 0.8%** | **United States — 0.8%** | **United States — 0.8%** |
| &nbsp;&nbsp;&nbsp; FHLMC UMBS, 30 Year |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD7572, 5/1/2054 | &nbsp;&nbsp; USD2,536 | &nbsp;&nbsp; 2637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8475, 11/1/2054 | &nbsp;&nbsp; USD6,664 | &nbsp;&nbsp; 6630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RQ0014, 6/1/2055 | &nbsp;&nbsp; USD6,505 | &nbsp;&nbsp; 6596 |
| &nbsp;&nbsp;&nbsp; GNMA II, 30 Year Pool # MA7650, 3.00%, 10/20/2051 | &nbsp;&nbsp; USD6,032 | &nbsp;&nbsp; 5277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Mortgage-Backed Securities <br>(Cost $21,107)<br>|  | &nbsp;&nbsp; 21140 |
| **Asset-Backed Securities — 0.1%** | **Asset-Backed Securities — 0.1%** | **Asset-Backed Securities — 0.1%** |
| **United States — 0.1%** | **United States — 0.1%** | **United States — 0.1%** |
| &nbsp;&nbsp;&nbsp; Lendmark Funding Trust Series 2025-2A, Class A, 4.78%, 10/20/2034 (c) | &nbsp;&nbsp; 1407 | &nbsp;&nbsp; 1408 |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust Series 2025-SFR3, Class A, 3.39%, 7/17/2042 (c) | &nbsp;&nbsp; 1295 | &nbsp;&nbsp; 1211 |
| &nbsp;&nbsp;&nbsp; Santander Drive Auto Receivables Trust Series 2025-3, Class C, 4.68%, 9/15/2031 | &nbsp;&nbsp; 313 | &nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp; Sierra Timeshare Receivables Funding LLC Series 2025-2A, Class A, 4.72%, 4/20/2044 (c) | &nbsp;&nbsp; 258 | &nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $3,177)<br>|  | &nbsp;&nbsp; 3189 |
| **Supranational — 0.1%** | **Supranational — 0.1%** | **Supranational — 0.1%** |
| &nbsp;&nbsp;&nbsp; Asian Development Bank, 3.40%, 9/10/2027 (b) | &nbsp;&nbsp; AUD3,030 | &nbsp;&nbsp; 1936 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **PRINCIPAL**<br> **AMOUNT**<br> **($000)**<br>| **VALUE**<br> **($000)**<br>|
| **Supranational — continued** | **Supranational — continued** | **Supranational — continued** |
| &nbsp;&nbsp;&nbsp; Inter-American Development Bank, 4.40%, 1/26/2026 | &nbsp;&nbsp; CAD614 | &nbsp;&nbsp; 447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Supranational <br>(Cost $2,723)<br>|  | &nbsp;&nbsp; 2383 |
| **Loan Assignments — 0.0% ‡ (n) ^** | **Loan Assignments — 0.0% ‡ (n) ^** | **Loan Assignments — 0.0% ‡ (n) ^** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moran Foods LLC, 2nd Lien PIK Term Loan (3-MONTH CME TERM SOFR + 9.65% (PIK) + 2.00%), 11.65%, 6/30/2026 (e) <br> (h)<br>| &nbsp;&nbsp; 335 | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien PIK Term Loan (3-MONTH CME TERM SOFR + 9.65% (PIK) + 2.00%), 11.65%, 6/30/2026 (e) (h) | &nbsp;&nbsp; 925 | &nbsp;&nbsp; 672 |
| &nbsp;&nbsp;&nbsp; FGI Operating Co. LLC, 1st Lien Term Loan 0.00%, 12/31/2025 (k) (o) | &nbsp;&nbsp; 14 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moran Foods LLC, 1st Lien Super Senior Delayed Draw Term Loan (3-MONTH CME TERM SOFR + 15.91% (PIK) + 11.50%), <br> 15.91%, 6/30/2026 (e) (h)<br>| &nbsp;&nbsp; 26 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Loan Assignments <br>(Cost $1,235)<br>|  | &nbsp;&nbsp; 774 |
| **Commercial Mortgage-Backed Securities — 0.0% ^** | **Commercial Mortgage-Backed Securities — 0.0% ^** | **Commercial Mortgage-Backed Securities — 0.0% ^** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Velocity Commercial Capital Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class M2, 4.51%, 10/26/2048 (c) (o) | &nbsp;&nbsp; 107 | &nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class M3, 4.72%, 10/26/2048 (c) (o) | &nbsp;&nbsp; 156 | &nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; WHARF Commercial Mortgage Trust Series 2025-DC, Class A, 5.35%, 7/15/2040 (c) (o) | &nbsp;&nbsp; 177 | &nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Mortgage-Backed Securities <br>(Cost $440)<br>|  | &nbsp;&nbsp; 426 |
| **Collateralized Mortgage Obligations — 0.0% ^** | **Collateralized Mortgage Obligations — 0.0% ^** | **Collateralized Mortgage Obligations — 0.0% ^** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; CHL Mortgage Pass-Through Trust Series 2007-10, Class A4, 5.50%, 7/25/2037 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Deutsche Alt-A Securities Mortgage Loan Trust Series 2006-AF1, Class A4, 5.07%, 4/25/2036 (o) | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Trust Series 2025-RPL3, Class A1, 4.10%, 7/25/2065 (c) (j) | &nbsp;&nbsp; 260 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp; HarborView Mortgage Loan Trust Series 2006-14, Class 1A1A, 4.83%, 1/25/2047 (o) | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust Series 2005-A8, Class 2A3, 5.69%, 11/25/2035 (o) | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Collateralized Mortgage Obligations <br>(Cost $251)<br>|  | &nbsp;&nbsp; 250 |
|  | **SHARES** <br>**(000)**<br>|  |
| **Convertible Preferred Stocks — 0.0% ^** | **Convertible Preferred Stocks — 0.0% ^** | **Convertible Preferred Stocks — 0.0% ^** |
| **United States — 0.0% ^** | **United States — 0.0% ^** | **United States — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Claire's Stores, Inc. ‡ \* (p)(Cost $719) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — |
|  | **PRINCIPAL** <br>**AMOUNT** <br>**($000)**<br>|  |
| **Short-Term Investments — 9.0%** | **Short-Term Investments — 9.0%** | **Short-Term Investments — 9.0%** |
| **Commercial Paper — 0.0% ^** | **Commercial Paper — 0.0% ^** | **Commercial Paper — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; BPCE SA, 4.62%, 11/6/2025 (c) (q) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp; Credit Industriel et Commercial, 4.44%, 5/12/2026 (c) (q) | &nbsp;&nbsp; 186 | &nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Paper <br>(Cost $427)<br>|  | &nbsp;&nbsp; 427 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **SHARES** <br>**(000)**<br>| **VALUE** <br>**($000)**<br>|
| **Investment Companies — 8.4%** | **Investment Companies — 8.4%** | **Investment Companies — 8.4%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class Institutional Shares, 4.28% (l) (r) (Cost $237,107) | &nbsp;&nbsp; 237063 | &nbsp;&nbsp; 237110 |
| **Investment of Cash Collateral from Securities Loaned — 0.6%** | **Investment of Cash Collateral from Securities Loaned — 0.6%** | **Investment of Cash Collateral from Securities Loaned — 0.6%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 4.37% (l) (r) (Cost $16,719) | &nbsp;&nbsp; 16719 | &nbsp;&nbsp; 16719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $254,253)<br>|  | &nbsp;&nbsp; 254256 |
| **Total Investments — 100.1%** <br>**(Cost $2,436,601)**<br>|  | &nbsp;&nbsp; **2829780** |
| **Liabilities in Excess of Other Assets — (0.1)%** |  | &nbsp;&nbsp; **(3558)**<br>|
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp; **2826222** |

---

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

---

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

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| ADR | American Depositary Receipt |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHDI | Clearing House Electronic Subregister System (CHESS) Depository Interest |
| CME | Chicago Mercantile Exchange |
| CVA | Certificaten Van Aandelen (Dutch Certificate) |
| CZK | Czech Republic Koruna |
| DKK | Danish Krone |
| ETF | Exchange Traded Fund |
| EUR | Euro |
| EURIBOR | Euro Interbank Offered Rate |
| FHLMC | Federal Home Loan Mortgage Corp. |
| GBP | British Pound |
| GDR | Global Depositary Receipt |
| GNMA | Government National Mortgage Association |
| HUF | Hungarian Forint |
| ICE | Intercontinental Exchange |
| IDR | Indonesian Rupiah |
| JPY | Japanese Yen |
| JSC | Joint Stock Company |
| MXN | Mexican Peso |
| NYRS | New York Registry Shares |
| OYJ | Public Limited Company |
| PIK | Payment In Kind |
| PJSC | Public Joint Stock Company |
| Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference <br> shares may also have liquidation preference.<br>|
| PT | Limited liability company |
| REIT | Real Estate Investment Trust |
| SCA | Limited partnership with share capital |
| SEK | Swedish Krona |
| SGPS | Holding company |
| SOFR | Secured Overnight Financing Rate |
| SOFRINDX | Compounding index of the Secured Overnight Financing Rate |
| THB | Thai Baht |
| UMBS | Uniform Mortgage-Backed Securities |

---

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

---

| | |
|:---|:---|
| ^ | Amount rounds to less than 0.1% of net assets. |
| ‡ | Value determined using significant unobservable inputs. |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

\* Non-income producing security. 

(a) The security or a portion of this security is on loan at July 31, 2025. The total value of securities on loan at July 31, 2025 is $15,700.

(b) 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. 

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

(d) Value is zero.

(e) Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of July 31, 2025.

(f) Security is an interest bearing note with preferred security characteristics.

(g) 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 July 31, 2025. 

(h) Security has the ability to pay in kind ("PIK") or pay income in cash. When applicable, separate rates of such payments are disclosed.

(i) 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 July 31, 2025 is $524 or 0.02% of the Fund's net assets as of July 31, 2025. 

(j) Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of July 31, 2025. 

(k) Defaulted security.

(l) 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. 

(m) All or a portion of this security is deposited with the broker as initial margin for futures contracts.

(n) Loan assignments are presented by obligor. Each series or loan tranche underlying each obligor may have varying terms.

(o) 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 July 31, 2025. 

(p) Fund is subject to legal or contractual restrictions on the resale of the security.

(q) The rate shown is the effective yield as of July 31, 2025. 

(r) The rate shown is the current yield as of July 31, 2025.

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

**Summary of Investments by Industry, July 31, 2025**

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

---

| | |
|:---|:---|
| **INDUSTRY** | **PERCENT OF** <br>**TOTAL** <br>**INVESTMENTS**<br>|
| Foreign Government Securities | 10.7<br> %<br>|
| Fixed Income | 7.4 |
| Banks | 7.1 |
| Semiconductors & Semiconductor Equipment | 4.9 |
| Capital Markets | 4.0 |
| Software | 4.0 |
| Oil, Gas & Consumable Fuels | 3.3 |
| Interactive Media & Services | 2.6 |
| Pharmaceuticals | 2.4 |
| Hotels, Restaurants & Leisure | 2.3 |
| Broadline Retail | 2.2 |
| Insurance | 1.9 |
| Technology Hardware, Storage & Peripherals | 1.9 |
| Machinery | 1.7 |
| U.S. Treasury Notes | 1.7 |
| Media | 1.6 |
| Specialty Retail | 1.6 |
| Aerospace & Defense | 1.5 |
| Electric Utilities | 1.4 |
| Chemicals | 1.4 |
| Entertainment | 1.4 |
| Financial Services | 1.3 |
| Health Care Providers & Services | 1.2 |
| Health Care Equipment & Supplies | 1.1 |
| Diversified Telecommunication Services | 1.0 |
| Others (each less than 1.0%) | 19.4 |
| Short-Term Investments | 9.0 |

---

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

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

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

**Futures contracts outstanding as of July 31, 2025 (amounts in thousands, except number of contracts):**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **DESCRIPTION** | &nbsp;&nbsp;&nbsp; **NUMBER OF** <br>**CONTRACTS**<br>| **EXPIRATION DATE** | **TRADING CURRENCY** | &nbsp;&nbsp;&nbsp; **NOTIONAL** <br>**AMOUNT ($)**<br>| &nbsp;&nbsp;&nbsp; **VALUE AND** <br>**UNREALIZED** <br>**APPRECIATION** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| **Long Contracts** |  |  |  |  |  |
| Euro-Bund | &nbsp;&nbsp;&nbsp;&nbsp; 349 | &nbsp;&nbsp;&nbsp;&nbsp; 09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 51601 | &nbsp;&nbsp;&nbsp;&nbsp; (259)<br>|
| Euro-OAT | &nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 4498 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| Euro-Schatz | &nbsp;&nbsp;&nbsp;&nbsp; 443 | &nbsp;&nbsp;&nbsp;&nbsp; 09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 54112 | &nbsp;&nbsp;&nbsp;&nbsp; (183)<br>|
| Japan 10 Year Mini Bond | &nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp; 09/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp;&nbsp; 13089 | &nbsp;&nbsp;&nbsp;&nbsp; (48)<br>|
| Japan 10 Year Bond | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 09/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp;&nbsp; 18304 | &nbsp;&nbsp;&nbsp;&nbsp; (91)<br>|
| Foreign Exchange EUR/USD | &nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; 09/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 9443 | &nbsp;&nbsp;&nbsp;&nbsp; (41)<br>|
| Foreign Exchange JPY/USD | &nbsp;&nbsp;&nbsp;&nbsp; 373 | &nbsp;&nbsp;&nbsp;&nbsp; 09/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 31071 | &nbsp;&nbsp;&nbsp;&nbsp; (1404)<br>|
| Korea 10 Year Bond | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 09/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp; KRW | &nbsp;&nbsp;&nbsp;&nbsp; 12817 | &nbsp;&nbsp;&nbsp;&nbsp; 48 |
| Canada 5 Year Bond | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 09/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp; CAD | &nbsp;&nbsp;&nbsp;&nbsp; 1961 | &nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| MSCI EAFE Index | &nbsp;&nbsp;&nbsp;&nbsp; 662 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 86490 | &nbsp;&nbsp;&nbsp;&nbsp; (516)<br>|
| MSCI Emerging Markets Index | &nbsp;&nbsp;&nbsp;&nbsp; 876 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 54202 | &nbsp;&nbsp;&nbsp;&nbsp; 1733 |
| S&P 500 E-Mini Index | &nbsp;&nbsp;&nbsp;&nbsp; 624 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 198791 | &nbsp;&nbsp;&nbsp;&nbsp; 8806 |
| S&P E-Mini Communication Services Index | &nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 44431 | &nbsp;&nbsp;&nbsp;&nbsp; 1551 |
| U.S. Treasury Long Bond | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 2397 | &nbsp;&nbsp;&nbsp;&nbsp; 11 |
| XAK Technology Index | &nbsp;&nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 47348 | &nbsp;&nbsp;&nbsp;&nbsp; 3382 |
| Long Gilt | &nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp; 09/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 9007 | &nbsp;&nbsp;&nbsp;&nbsp; 137 |
| U.S. Treasury 2 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; 163 | &nbsp;&nbsp;&nbsp;&nbsp; 09/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 33742 | &nbsp;&nbsp;&nbsp;&nbsp; (142)<br>|
| U.S. Treasury 5 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; 5051 | &nbsp;&nbsp;&nbsp;&nbsp; 09/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 546494 | &nbsp;&nbsp;&nbsp;&nbsp; 3585 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16580 |
| **Short Contracts** |  |  |  |  |  |
| Euro-Bobl | &nbsp;&nbsp;&nbsp;&nbsp; (278)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; (37195)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 182 |
| Euro-BTP | &nbsp;&nbsp;&nbsp;&nbsp; (17)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; (2343)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| Euro-Buxl 30 Year Bond | &nbsp;&nbsp;&nbsp;&nbsp; (55)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; (7341)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 206 |
| Short-Term Euro-BTP | &nbsp;&nbsp;&nbsp;&nbsp; (166)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; (20409)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 74 |
| Australia 10 Year Bond | &nbsp;&nbsp;&nbsp;&nbsp; (67)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 09/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp;&nbsp; (4899)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12 |
| Canada 10 Year Bond | &nbsp;&nbsp;&nbsp;&nbsp; (99)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 09/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp; CAD | &nbsp;&nbsp;&nbsp;&nbsp; (8612)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 46 |
| U.S. Treasury 10 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; (223)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (24770)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (304)<br>|
| U.S. Treasury 10 Year Ultra Note | &nbsp;&nbsp;&nbsp;&nbsp; (8)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (905)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| U.S. Treasury Ultra Bond | &nbsp;&nbsp;&nbsp;&nbsp; (148)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (17344)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (246)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (26)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16554 |

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| EAFE | Europe, Australasia and Far East |
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| KRW | Korean Republic Won |
| MSCI | Morgan Stanley Capital International |
| USD | United States Dollar |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

**Forward foreign currency exchange contracts outstanding as of July 31, 2025 (amounts in thousands):**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CURRENCY** <br>**PURCHASED** | **CURRENCY** <br>**PURCHASED** | &nbsp;&nbsp;&nbsp; **CURRENCY** <br>**SOLD** | &nbsp;&nbsp;&nbsp; **CURRENCY** <br>**SOLD** | **COUNTERPARTY** | &nbsp;&nbsp;&nbsp; **SETTLEMENT** <br>**DATE**<br>| &nbsp;&nbsp; **UNREALIZED** <br>**APPRECIATION** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 622 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 106755 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 116727 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 678 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 2830 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 14 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 658 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 1003 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 12 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2844 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 4409 | HSBC Bank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 10 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 8272 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 11297 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 110 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 307 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; 1952 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 289 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 250 | Barclays Bank plc | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 722 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 619 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 14 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4269 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3735 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 13277 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 11331 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 326 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 471 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 356 | Barclays Bank plc | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 6729 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 4988 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 141 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 7631 | HUF | &nbsp;&nbsp;&nbsp;&nbsp; 2618190 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 169 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4120 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 603940 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 105 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 715 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 107222 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5530 | MXN | &nbsp;&nbsp;&nbsp;&nbsp; 103830 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 39 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 722 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; 7021 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2890 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; 3693 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 41 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1205 | THB | &nbsp;&nbsp;&nbsp;&nbsp; 38960 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 11 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2209 | THB | &nbsp;&nbsp;&nbsp;&nbsp; 71687 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 11 |
| Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | &nbsp;&nbsp;&nbsp;&nbsp; 1012 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 1102 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 538 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 18 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 12 | Barclays Bank plc | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 6302 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4143 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (92)<br>|
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 1003 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 653 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 3699 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 2433 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (55)<br>|
| CAD | &nbsp;&nbsp;&nbsp;&nbsp; 404 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 221 | Barclays Bank plc | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| CAD | &nbsp;&nbsp;&nbsp;&nbsp; 4908 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3593 | Barclays Bank plc | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (47)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 514 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 888 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 579 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 991 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 1503 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1894 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (39)<br>|
| CLP | &nbsp;&nbsp;&nbsp;&nbsp; 688913 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 715 | Goldman Sachs International\*\* | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| CZK | &nbsp;&nbsp;&nbsp;&nbsp; 13190 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 625 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| DKK | &nbsp;&nbsp;&nbsp;&nbsp; 1969 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 310 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 620 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 1104 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 43278 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 50753 | Barclays Bank plc | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1291)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 618 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 720 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 14321 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 16740 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (372)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 204 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 236 | Barclays Bank plc | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 4127 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 5574 | Barclays Bank plc | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (122)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 3067 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4144 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (92)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 344 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 460 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 545 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 736 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (15)<br>|
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 14832878 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 913 | Bank of America NA\*\* | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (15)<br>|
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 53343812 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3271 | Goldman Sachs International\*\* | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (40)<br>|
| ILS | &nbsp;&nbsp;&nbsp;&nbsp; 1055 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 317 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| ILS | &nbsp;&nbsp;&nbsp;&nbsp; 5415 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1616 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (22)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 44682 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 225 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 95124 | NZD | &nbsp;&nbsp;&nbsp;&nbsp; 1085 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 1945242 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 13260 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (328)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 106294 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 726 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp; 9946194 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 67847 | State Street Corp. | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1723)<br>|
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 2265220 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1648 | Citibank, NA\*\* | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>|
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 17141098 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 12439 | Standard Chartered Bank\*\* | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (140)<br>|
| MXN | &nbsp;&nbsp;&nbsp;&nbsp; 17887 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 953 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| NOK | &nbsp;&nbsp;&nbsp;&nbsp; 2954 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 291 | Merrill Lynch International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CURRENCY**<br> **PURCHASED** | **CURRENCY**<br> **PURCHASED** | &nbsp;&nbsp;&nbsp; **CURRENCY**<br> **SOLD** | &nbsp;&nbsp;&nbsp; **CURRENCY**<br> **SOLD** | **COUNTERPARTY** | &nbsp;&nbsp;&nbsp; **SETTLEMENT**<br> **DATE**<br>| &nbsp;&nbsp; **UNREALIZED**<br> **APPRECIATION**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| NOK | &nbsp;&nbsp;&nbsp;&nbsp; 8707 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 861 | Morgan Stanley | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (19)<br>|
| NZD | &nbsp;&nbsp;&nbsp;&nbsp; 6654 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3992 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (69)<br>|
| PEN | &nbsp;&nbsp;&nbsp;&nbsp; 2284 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 640 | Goldman Sachs International\*\* | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| PLN | &nbsp;&nbsp;&nbsp;&nbsp; 11724 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3211 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (84)<br>|
| PLN | &nbsp;&nbsp;&nbsp;&nbsp; 2070 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 567 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| RON | &nbsp;&nbsp;&nbsp;&nbsp; 4611 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1058 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (23)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 32244 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3370 | BNP Paribas | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (71)<br>|
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 5693 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 598 | Goldman Sachs International | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (15)<br>|
| THB | &nbsp;&nbsp;&nbsp;&nbsp; 15002 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 464 | Citibank, NA | 8/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | &nbsp;&nbsp;&nbsp;&nbsp; (4830)<br>|
| Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | Net unrealized depreciation | &nbsp;&nbsp;&nbsp;&nbsp; (3818)<br>|

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chile Peso |
| CZK | Czech Republic Koruna |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ILS | Israeli Shekel |
| JPY | Japanese Yen |
| KRW | Korean Republic Won |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PLN | Polish Zloty |
| RON | Romanian Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| USD | United States Dollar |

---

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

(a) Amount rounds to less than one thousand.

\*\* Non-deliverable forward.

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3189 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3189 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 250 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 426 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 426 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13172 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13172 |
| &nbsp;&nbsp;&nbsp; Austria | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp; Belgium | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3822 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3822 |
| &nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp;&nbsp;&nbsp; 8267 | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8321 |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp;&nbsp; 7769 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7769 |
| &nbsp;&nbsp;&nbsp; Chile | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp;&nbsp; 9387 | &nbsp;&nbsp;&nbsp;&nbsp; 50418 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 59805 |
| &nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6485 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6485 |
| &nbsp;&nbsp;&nbsp; Finland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1713 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1713 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 53947 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 53947 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 46831 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 46831 |
| &nbsp;&nbsp;&nbsp; Greece | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3044 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3044 |
| &nbsp;&nbsp;&nbsp; Guatemala | &nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 420 |
| &nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp; 15538 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15681 |
| &nbsp;&nbsp;&nbsp; Hungary | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 893 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 893 |
| &nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp;&nbsp;&nbsp; 8937 | &nbsp;&nbsp;&nbsp;&nbsp; 13626 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22563 |
| &nbsp;&nbsp;&nbsp; Indonesia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4077 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4077 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp;&nbsp; 2193 | &nbsp;&nbsp;&nbsp;&nbsp; 1709 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3902 |
| &nbsp;&nbsp;&nbsp; Israel | &nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp;&nbsp; 923 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1288 |
| &nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7789 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7789 |
| &nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 73774 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 73774 |
| &nbsp;&nbsp;&nbsp; Kazakhstan | &nbsp;&nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp; Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 247 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp; Macau | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 574 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 574 |
| &nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp;&nbsp; 3267 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3267 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; 4403 | &nbsp;&nbsp;&nbsp;&nbsp; 18512 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22915 |
| &nbsp;&nbsp;&nbsp; New Zealand | &nbsp;&nbsp;&nbsp;&nbsp; 219 | &nbsp;&nbsp;&nbsp;&nbsp; 261 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp; Norway | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 925 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 949 |
| &nbsp;&nbsp;&nbsp; Peru | &nbsp;&nbsp;&nbsp;&nbsp; 1074 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1074 |
| &nbsp;&nbsp;&nbsp; Philippines | &nbsp;&nbsp;&nbsp;&nbsp; 301 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 301 |
| &nbsp;&nbsp;&nbsp; Poland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1028 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1028 |
| &nbsp;&nbsp;&nbsp; Portugal | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 633 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 633 |
| &nbsp;&nbsp;&nbsp; Qatar | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 704 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 704 |
| &nbsp;&nbsp;&nbsp; Russia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —(b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; —(b)<br>|
| &nbsp;&nbsp;&nbsp; Saudi Arabia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4401 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4401 |
| &nbsp;&nbsp;&nbsp; Singapore | &nbsp;&nbsp;&nbsp;&nbsp; 1303 | &nbsp;&nbsp;&nbsp;&nbsp; 9421 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10724 |
| &nbsp;&nbsp;&nbsp; South Africa | &nbsp;&nbsp;&nbsp;&nbsp; 848 | &nbsp;&nbsp;&nbsp;&nbsp; 2347 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3195 |
| &nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp; 20292 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20420 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp; $82 | &nbsp;&nbsp;&nbsp;&nbsp; $6822 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $6904 |
| &nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21224 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21224 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14101 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14101 |
| &nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp;&nbsp;&nbsp; 9939 | &nbsp;&nbsp;&nbsp;&nbsp; 31720 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 41659 |
| &nbsp;&nbsp;&nbsp; Turkey | &nbsp;&nbsp;&nbsp;&nbsp; 904 | &nbsp;&nbsp;&nbsp;&nbsp; 443 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1347 |
| &nbsp;&nbsp;&nbsp; United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp; 411 | &nbsp;&nbsp;&nbsp;&nbsp; 916 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1327 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; 2812 | &nbsp;&nbsp;&nbsp;&nbsp; 36061 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38873 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; 835572 | &nbsp;&nbsp;&nbsp;&nbsp; 26737 | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 862337 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 899149 | &nbsp;&nbsp;&nbsp;&nbsp; 495686 | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 1394863 |
| Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; —(a)<br>|
| Corporate Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2593 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2593 |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25422 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25422 |
| &nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2377 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2377 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7255 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7255 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25783 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25783 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7051 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7051 |
| &nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14813 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14813 |
| &nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2375 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2375 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2190 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2190 |
| &nbsp;&nbsp;&nbsp; Portugal | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4208 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4208 |
| &nbsp;&nbsp;&nbsp; Puerto Rico | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1291 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1291 |
| &nbsp;&nbsp;&nbsp; Saudi Arabia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 798 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 798 |
| &nbsp;&nbsp;&nbsp; Singapore | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8321 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8321 |
| &nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2325 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2325 |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6097 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6097 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12951 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12951 |
| &nbsp;&nbsp;&nbsp; Thailand | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 524 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 524 |
| &nbsp;&nbsp;&nbsp; Trinidad And Tobago | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13238 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13238 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 451598 | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 451688 |
| &nbsp;&nbsp;&nbsp; Total Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 591415 | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 591505 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 96803 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 96803 |
| Foreign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 302423 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 302423 |
| Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 112428 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 112428 |
| Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 774 | &nbsp;&nbsp;&nbsp;&nbsp; 774 |
| Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21140 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21140 |
| Supranational | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2383 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2383 |
| U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 49340 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 49340 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 237110 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 237110 |
| &nbsp;&nbsp;&nbsp; Investment of Cash Collateral from Securities Loaned | &nbsp;&nbsp;&nbsp;&nbsp; 16719 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16719 |
| &nbsp;&nbsp;&nbsp; Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; 253829 | &nbsp;&nbsp;&nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 254256 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $1362209 | &nbsp;&nbsp;&nbsp;&nbsp; $1466679 | &nbsp;&nbsp;&nbsp;&nbsp; $892 | &nbsp;&nbsp;&nbsp;&nbsp; $2829780 |

---

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1012 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1012 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; 19782 | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19794 |
| **Depreciation in Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(4830)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(4830)<br>|
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; (3240)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3240)<br>|
| **Total Net Appreciation/ Depreciation in Other** <br>**Financial Instruments**<br>| &nbsp;&nbsp;&nbsp;&nbsp; $16542 | &nbsp;&nbsp;&nbsp;&nbsp; $(3806)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $12736 |

---

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

(a) Value is zero.

(b) Amount rounds to less than one thousand.

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security** | **Acquisition** <br>**Date**<br>| **Cost** | **Market** <br>**Value**<br>| **Percentage** <br>**of Fund's** <br>**Net Assets**<br>|
| Claire's Stores, Inc. - Convertible Preferred Stocks | 11/28/2018 | $276 | $—<br> (a)<br>| 0.0<br> %<br>|
| Claire's Stores, Inc. - Convertible Preferred Stocks | 10/3/2018 | 443 | —<br> (a)<br>| 0.0<br> %<br>|
|  |  | $719 | $—<br> (a)<br>|  |

---

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

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

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** |
| **Security Description** | **Value at** <br>**October 31,** <br>**2024**<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>**July 31,** <br>**2025**<br>| **Shares at** <br>**July 31,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| JPMorgan Income ETF (a) | $— | $95792 | $— | $— | $1011 | $96803 | 2095 | $869 | $— |
| JPMorgan Income Fund Class R6 Shares (a) | 129656 | 5465 | 23592 | (241)<br>| 1140 | 112428 | 13119 | 5464 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund <br> Class Institutional Shares, 4.28% (a) (b)<br>| 70700 | 1579124 | 1412729 | 22 | (7)<br>| 237110 | 237063 | 3307 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund <br> Agency SL Class Shares, 4.37% (a) (b)<br>| 12484 | 168359 | 164123 |  | (1)<br>| 16719 | 16719 | 811 |  |
| **Total** | $212840 | $1848740 | $1600444 | $(219)<br>| $2143 | $463060 |  | $10451 | $— |

---

&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 July 31, 2025.

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

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

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

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

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

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

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

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

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

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

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

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

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

------

**JPMorgan Global Allocation Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

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

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

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

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

- **a. Name of Series:** JPMorgan Global Allocation Fund

- **b. EDGAR series identifier (if any):** S000031462

- **c. LEI of Series:** 05BPHY57BRZ28M05ST85

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2851013460.05

**Total Liabilities:** $24425627.86

**Net Assets:** $2826587832.19

**Cash Not Reported:** $6361570.27

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 405.91649000 | **1-Year:** 9343.79216000 | **5-Year:** 71376.04465000 | **10-Year:** 69274.06452000 | **30-Year:** 41277.50161000

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

- **3-Month:** 1046.42009000 | **1-Year:** 34137.24220000 | **5-Year:** 89959.58289000 | **10-Year:** 8234.67495000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000195049 | 3.30%                | 4.13%                | -0.46%               |
| Class ID C000205204 | 3.28%                | 4.15%                | -0.51%               |
| Class ID C000205205 | 3.28%                | 4.09%                | -0.51%               |
| Class ID C000097804 | 3.30%                | 4.10%                | -0.46%               |
| Class ID C000097805 | 3.22%                | 4.09%                | -0.52%               |
| Class ID C000097803 | 3.22%                | 4.06%                | -0.53%               |
| Class ID C000205203 | 3.35%                | 4.10%                | -0.46%               |
| Class ID C000097802 | 3.28%                | 4.08%                | -0.51%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3404156.28              | $67097727.00                               |
| Month 2  | $10795147.87             | $70664449.35                               |
| Month 3  | $4725400.50              | $-14814148.24                              |

**Designated Index Information**

- **Index Name:** 60% ACWIRNRUSD0, 40% 34556TRUSD0

- **Index Identifier:** IBXUSD007265

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CBRE Group, Inc.                                     | CBRE Group, Inc., Class A                                                | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |        1385 | NS      | $215699.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WHARF Commercial Mortgage Trust                      | WHARF Commercial Mortgage Trust, Series 2025-DC, Class A                 | CUSIP: 92987LAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      177000 | PA      | $179814.07    | 0.01%             | 2040-07-15      | Variable      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| MonotaRO Co. Ltd.                                    | MonotaRO Co. Ltd.                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        2200 | NS      | $39175.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts, Inc.                          | Host Hotels & Resorts, Inc.                                              | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |       39384 | NS      | $619116.48    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SKF AB                                               | SKF AB, Class B                                                          | CUSIP: N/A<br>LEI: 549300B6HWYEE57O8J84       | Long             | EC               | CORP              | SE        |        3033 | NS      | $70646.03     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                      | Intercontinental Exchange, Inc.                                          | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |        4325 | NS      | $799389.75    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Aerospace Industries Ltd.                      | Korea Aerospace Industries Ltd.                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |        8801 | NS      | $596005.78    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                               | Sonic Automotive, Inc.                                                   | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |      939000 | PA      | $903048.60    | 0.03%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| Buckeye Partners LP                                  | Buckeye Partners LP                                                      | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     1255000 | PA      | $1291889.47   | 0.05%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-14376.79    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CTS Eventim AG & Co. KGaA                            | CTS Eventim AG & Co. KGaA                                                | CUSIP: N/A<br>LEI: 529900FDHSN08UBJII80       | Long             | EC               | CORP              | DE        |         555 | NS      | $62673.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Bank for International Cooperation             | Japan Bank for International Cooperation                                 | CUSIP: 471048CV8<br>LEI: 549300TJ3QFYVCTSCJ29 | Long             | DBT              | NUSS              | JP        |     2264000 | PA      | $2260895.33   | 0.08%             | 2026-01-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Partners Group Holding AG                            | Partners Group Holding AG                                                | CUSIP: N/A<br>LEI: 549300I3IVVWZWDHI788       | Long             | EC               | CORP              | CH        |         202 | NS      | $271547.97    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                | Clydesdale Acquisition Holdings, Inc.                                    | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |      530000 | PA      | $540906.22    | 0.02%             | 2030-04-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Export-Import Bank of Korea                          | Export-Import Bank of Korea                                              | CUSIP: 302154DC0<br>LEI: 549300APVP4R32PI3Y06 | Long             | DBT              | NUSS              | KR        |     4217000 | PA      | $4195830.66   | 0.15%             | 2025-09-21      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Credit Acceptance Corp.                              | Credit Acceptance Corp.                                                  | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      544000 | PA      | $550892.48    | 0.02%             | 2030-03-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                         | Oracle Corp.                                                             | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |       18011 | NS      | $4570651.47   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CVR Partners LP                                      | CVR Partners LP                                                          | CUSIP: 12663QAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      852000 | PA      | $845735.93    | 0.03%             | 2028-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Encino Acquisition Partners Holdings LLC             | Encino Acquisition Partners Holdings LLC                                 | CUSIP: 29254BAA5<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |     1591000 | PA      | $1624808.75   | 0.06%             | 2028-05-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| China Yangtze Power Co. Ltd.                         | China Yangtze Power Co. Ltd., Class A                                    | CUSIP: N/A<br>LEI: 3003008VX8JFJXA6QP74       | Long             | EC               | CORP              | CN        |      142400 | NS      | $549973.17    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Orange SA                                            | Orange SA                                                                | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |       16553 | NS      | $251789.03    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Eaton Corp. plc                                      | Eaton Corp. plc                                                          | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |       13184 | NS      | $5072148.48   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MEIJI Holdings Co. Ltd.                              | MEIJI Holdings Co. Ltd.                                                  | CUSIP: N/A<br>LEI: 5299002D52YIP6DWMV49       | Long             | EC               | CORP              | JP        |        2100 | NS      | $42464.06     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INEOS Quattro Finance 2 plc                          | INEOS Quattro Finance 2 plc                                              | CUSIP: N/A<br>LEI: 213800V48W4Y5MT5Q131       | Long             | DBT              | CORP              | GB        |      225000 | PA      | $259638.22    | 0.01%             | 2029-03-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                         | Mizuho Financial Group, Inc.                                             | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |       21200 | NS      | $621831.22    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanrio Co. Ltd.                                      | Sanrio Co. Ltd.                                                          | CUSIP: N/A<br>LEI: 3538002Q5JQLOMSPH125       | Long             | EC               | CORP              | JP        |        1600 | NS      | $65651.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cadent Finance plc                                   | Cadent Finance plc                                                       | CUSIP: N/A<br>LEI: 5493005M8TJ0J6IMUF67       | Long             | DBT              | CORP              | GB        |     2325000 | PA      | $2383023.62   | 0.08%             | 2030-03-19      | Fixed         | 0.62%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                  | Nexstar Media, Inc.                                                      | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |      198000 | PA      | $197615.72    | 0.01%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| LB-UBS Commercial Mortgage Trust                     | LB-UBS Commercial Mortgage Trust, Series 2006-C6, Class AJ               | CUSIP: 50179MAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |           0 | PA      | $0.00         | 0.00%             | 2039-09-15      | Variable      | 5.45%                 | No            |                  3 | On Loan: No      |
| PRA Group, Inc.                                      | PRA Group, Inc.                                                          | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |      474000 | PA      | $492272.70    | 0.02%             | 2030-01-31      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd.                          | Adient Global Holdings Ltd.                                              | CUSIP: 00687YAB1<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |     1431000 | PA      | $1464792.92   | 0.05%             | 2028-04-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Mitsui & Co. Ltd.                                    | Mitsui & Co. Ltd.                                                        | CUSIP: N/A<br>LEI: 2NRSB4GOU9DD6CNW5R48       | Long             | EC               | CORP              | JP        |       22000 | NS      | $447846.15    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PetSmart, Inc.                                       | PetSmart, Inc.                                                           | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      900000 | PA      | $883195.92    | 0.03%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| China International Capital Corp. Ltd.               | China International Capital Corp. Ltd., Class H                          | CUSIP: N/A<br>LEI: 529900OS3SVVTT56QN67       | Long             | EC               | CORP              | CN        |      228400 | NS      | $579961.95    | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Euronext NV                                          | Euronext NV                                                              | CUSIP: N/A<br>LEI: 724500QJ4QSZ3H9QU415       | Long             | EC               | CORP              | NL        |         695 | NS      | $112026.41    | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                       | Olympus Water US Holding Corp.                                           | CUSIP: 681639AA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |      200000 | PA      | $190437.90    | 0.01%             | 2028-10-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Sweden                                    | Kingdom of Sweden                                                        | CUSIP: N/A<br>LEI: ERE94C0BSULG2RM19605       | Long             | DBT              | NUSS              | SE        |     5010000 | PA      | $505745.84    | 0.02%             | 2026-11-12      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Sagax AB                                             | Sagax AB, Class B                                                        | CUSIP: N/A<br>LEI: 549300LJX28T6OM8DT95       | Long             | EC               | CORP              | SE        |        1932 | NS      | $40891.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bausch + Lomb Corp.                                  | Bausch + Lomb Corp.                                                      | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |     2113000 | PA      | $2203013.80   | 0.08%             | 2028-10-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                    | Exxon Mobil Corp.                                                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      127776 | NS      | $14264912.64  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-19677.64    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Prime Money Market Fund                     | JPMorgan Prime Money Market Fund, Class Institutional                    | CUSIP: 4812A2603<br>LEI: 549300YD7H8SEEU7VG41 | Long             | STIV             | RF                | US        |   237063182 | NS      | $237110594.55 | 8.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co.                                | Matador Resources Co.                                                    | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |      420000 | PA      | $426877.32    | 0.02%             | 2028-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                    | Clarios Global LP                                                        | CUSIP: 18060TAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2248000 | PA      | $2298422.64   | 0.08%             | 2028-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                     | CSC Holdings LLC                                                         | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     2496000 | PA      | $2334731.02   | 0.08%             | 2029-01-31      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| Experian plc                                         | Experian plc                                                             | CUSIP: N/A<br>LEI: 635400RXXHHYT1JTSZ26       | Long             | EC               | CORP              | JE        |        8162 | NS      | $430061.92    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.          | Taiwan Semiconductor Manufacturing Co. Ltd.                              | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       41134 | NS      | $9938797.08   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Midstream Operations LP                         | Hess Midstream Operations LP                                             | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      633000 | PA      | $643420.45    | 0.02%             | 2028-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Novonesis Novozymes B                                | Novonesis Novozymes B                                                    | CUSIP: N/A<br>LEI: 529900T6WNZXD2R3JW38       | Long             | EC               | CORP              | DK        |        3133 | NS      | $202697.49    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Idemitsu Kosan Co. Ltd.                              | Idemitsu Kosan Co. Ltd.                                                  | CUSIP: N/A<br>LEI: 549300P0R46FF6DUA630       | Long             | EC               | CORP              | JP        |        7200 | NS      | $46286.03     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CME Group, Inc.                                      | CME Group, Inc.                                                          | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       51285 | NS      | $14271589.80  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group, Inc.                      | Interactive Brokers Group, Inc., Class A                                 | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |       24803 | NS      | $1626084.68   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Evonik Industries AG                                 | Evonik Industries AG                                                     | CUSIP: N/A<br>LEI: 41GUOJQTALQHLF39XJ34       | Long             | EC               | CORP              | DE        |        2278 | NS      | $45236.69     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Quanta Computer, Inc.                                | Quanta Computer, Inc.                                                    | CUSIP: N/A<br>LEI: 529900DE8BIV3XOXIK04       | Long             | EC               | CORP              | TW        |      106000 | NS      | $987301.16    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Kreditanstalt fuer Wiederaufbau                      | Kreditanstalt fuer Wiederaufbau                                          | CUSIP: N/A<br>LEI: 549300GDPG70E3MBBU98       | Long             | DBT              | NUSS              | DE        |     7500000 | PA      | $8277984.07   | 0.29%             | 2027-03-31      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                     | Deutsche Bank AG                                                         | CUSIP: 251526CP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |     2450000 | PA      | $2377491.93   | 0.08%             | 2027-11-16      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| NCR Voyix Corp.                                      | NCR Voyix Corp.                                                          | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     1596000 | PA      | $1569908.59   | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Trinidad Generation UnLtd                            | Trinidad Generation UnLtd                                                | CUSIP: 89636DAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | TT        |      200000 | PA      | $205422.00    | 0.01%             | 2033-06-16      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: —       |
| Ontario Teachers' Finance Trust                      | Ontario Teachers' Finance Trust                                          | CUSIP: N/A<br>LEI: 635400ZZE5J8OXXBBY26       | Long             | DBT              | NUSS              | CA        |     4950000 | PA      | $6390378.52   | 0.23%             | 2026-05-15      | Fixed         | 1.12%                 | Yes           |                  2 | On Loan: No      |
| Scentre Group                                        | Scentre Group                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |       46303 | NS      | $110814.16    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Crowdstrike Holdings, Inc.                           | Crowdstrike Holdings, Inc., Class A                                      | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |        4225 | NS      | $1920558.25   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Aeroports de Paris SA                                | Aeroports de Paris SA                                                    | CUSIP: N/A<br>LEI: 969500PJMBSFHYC37989       | Long             | EC               | CORP              | FR        |         305 | NS      | $37019.24     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| SoftBank Group Corp.                                 | SoftBank Group Corp.                                                     | CUSIP: N/A<br>LEI: 5493003BZYYYCDIO0R13       | Long             | EC               | CORP              | JP        |        8500 | NS      | $649051.13    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-4821.52     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                             | Celanese US Holdings LLC                                                 | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |      741000 | PA      | $759400.51    | 0.03%             | 2027-07-15      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-1662.73     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                       | Enbridge, Inc.                                                           | CUSIP: 29250NAS4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |      450000 | PA      | $445528.49    | 0.02%             | 2077-07-15      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Evolution AB                                         | Evolution AB                                                             | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |        1318 | NS      | $117250.75    | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| United Mexican States                                | United Mexican States                                                    | CUSIP: 91087BAM2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     1110000 | PA      | $957930.00    | 0.03%             | 2031-05-24      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| Robinhood Markets, Inc.                              | Robinhood Markets, Inc., Class A                                         | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |       18587 | NS      | $1915390.35   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Loews Corp.                                          | Loews Corp.                                                              | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |        5990 | NS      | $542334.60    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Avolon Holdings Funding Ltd.                         | Avolon Holdings Funding Ltd.                                             | CUSIP: 05401AAJ0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     2350000 | PA      | $2290756.50   | 0.08%             | 2027-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Keppel Ltd.                                          | Keppel Ltd.                                                              | CUSIP: N/A<br>LEI: 254900SQ7IPDOY6IDW33       | Long             | EC               | CORP              | SG        |       12900 | NS      | $83809.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AMETEK, Inc.                                         | AMETEK, Inc.                                                             | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |        8223 | NS      | $1520021.55   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                           | FHLMC UMBS, 30 Year                                                      | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     6663701 | PA      | $6630244.53   | 0.23%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| T&D Holdings, Inc.                                   | T&D Holdings, Inc.                                                       | CUSIP: N/A<br>LEI: 3538008ARJ1MACEWA242       | Long             | EC               | CORP              | JP        |        4400 | NS      | $107442.45    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chubb Ltd.                                           | Chubb Ltd.                                                               | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |        1617 | NS      | $430186.68    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                  | Hilton Domestic Operating Co., Inc.                                      | CUSIP: 432833AP6<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |      312000 | PA      | $317054.71    | 0.01%             | 2029-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG        | Muenchener Rueckversicherungs-Gesellschaft AG (Registered)               | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |       21686 | NS      | $14197196.11  | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Westlake Corp.                                       | Westlake Corp.                                                           | CUSIP: 960413AV4<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | DBT              | CORP              | US        |     2350000 | PA      | $2528822.31   | 0.09%             | 2029-07-17      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Grab Holdings Ltd.                                   | Grab Holdings Ltd., Class A                                              | CUSIP: N/A<br>LEI: 549300N4VQX83VPJF439       | Long             | EC               | CORP              | KY        |       21093 | NS      | $103144.77    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Star Leasing Co. LLC                                 | Star Leasing Co. LLC                                                     | CUSIP: 854938AA5<br>LEI: 549300WXKNX4PT3HSN71 | Long             | DBT              | CORP              | US        |     1618000 | PA      | $1595924.66   | 0.06%             | 2030-02-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                         | Barclays plc                                                             | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | DBT              | CORP              | GB        |      457000 | PA      | $550888.12    | 0.02%             | 2033-01-31      | Variable      | 4.51%                 | Yes           |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust                       | HarborView Mortgage Loan Trust, Series 2006-14, Class 1A1A               | CUSIP: 41162NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |           1 | PA      | $1.10         | 0.00%             | 2047-01-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Oscar Health, Inc.                                   | Oscar Health, Inc., Class A                                              | CUSIP: 687793109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       14573 | NS      | $204750.65    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Japan                                                | Japan Government Bond                                                    | CUSIP: N/A<br>LEI: 353800WZS8AXZXFUC241       | Long             | DBT              | NUSS              | JP        |  1217550000 | PA      | $8033084.86   | 0.28%             | 2035-06-20      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| QIAGEN NV                                            | QIAGEN NV                                                                | CUSIP: N/A<br>LEI: 54930036WK3GMCN17Z57       | Long             | EC               | CORP              | NL        |        1921 | NS      | $95254.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Healthineers AG                              | Siemens Healthineers AG                                                  | CUSIP: N/A<br>LEI: 529900QBVWXMWANH7H45       | Long             | EC               | CORP              | DE        |        3008 | NS      | $162018.86    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Rio Tinto Ltd.                                       | Rio Tinto Ltd.                                                           | CUSIP: N/A<br>LEI: 529900X2VMAQT2PE0V24       | Long             | EC               | CORP              | AU        |        3300 | NS      | $234689.28    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp.                                         | NVIDIA Corp.                                                             | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      336226 | NS      | $59804518.62  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Telenor ASA                                          | Telenor ASA                                                              | CUSIP: N/A<br>LEI: 549300IM1QSBY4SLPM26       | Long             | EC               | CORP              | NO        |        5474 | NS      | $83976.11     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                               | Goldman Sachs Bank USA                                                   | CUSIP: 38151LAE0<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |      320000 | PA      | $320647.30    | 0.01%             | 2027-03-18      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                | Albertsons Cos., Inc.                                                    | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      866000 | PA      | $816688.40    | 0.03%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| PG&E Corp.                                           | PG&E Corp.                                                               | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |       14216 | NS      | $199308.32    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                                     | Amazon.com, Inc.                                                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      204165 | NS      | $47797068.15  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp.                                         | Gentex Corp.                                                             | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |       16349 | NS      | $431940.58    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Industry Co. Ltd.                        | Daiwa House Industry Co. Ltd.                                            | CUSIP: N/A<br>LEI: 353800K9WXR9XRZJZI46       | Long             | EC               | CORP              | JP        |        5000 | NS      | $165304.65    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Romania                                              | Romania Government Bond                                                  | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |     1270000 | PA      | $1142255.72   | 0.04%             | 2033-04-14      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Province of Quebec Canada                            | Province of Quebec                                                       | CUSIP: 74814ZFV0<br>LEI: 549300WN65YFEQH74Y36 | Long             | DBT              | NUSS              | CA        |    21435000 | PA      | $15413677.07  | 0.55%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-15144.28    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Carlisle Cos., Inc.                                  | Carlisle Cos., Inc.                                                      | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |        1561 | NS      | $553702.31    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT AB                                               | EQT AB                                                                   | CUSIP: N/A<br>LEI: 213800U7P9GOIRKCTB34       | Long             | EC               | CORP              | SE        |        3310 | NS      | $110633.79    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sea Ltd.                                             | Sea Ltd.                                                                 | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |        7658 | NS      | $1199625.70   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Advantest Corp.                                      | Advantest Corp.                                                          | CUSIP: N/A<br>LEI: 353800EMK32PDKS9XR54       | Long             | EC               | CORP              | JP        |        6800 | NS      | $452194.16    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Infrastrutture Wireless Italiane SpA                 | Infrastrutture Wireless Italiane SpA                                     | CUSIP: N/A<br>LEI: 81560066183FE361C071       | Long             | EC               | CORP              | IT        |        2485 | NS      | $29378.44     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Kingdom of Spain                                     | Bonos and Obligaciones del Estado                                        | CUSIP: N/A<br>LEI: 9598007A56S18711AH60       | Long             | DBT              | NUSS              | ES        |     6270000 | PA      | $7116448.49   | 0.25%             | 2035-10-31      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-21724.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Jabil, Inc.                                          | Jabil, Inc.                                                              | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |        5898 | NS      | $1316256.66   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleos Mexicanos                                  | Petroleos Mexicanos                                                      | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |     2500000 | PA      | $2375000.00   | 0.08%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| National Bank of Greece SA                           | National Bank of Greece SA                                               | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               | CORP              | GR        |      155703 | NS      | $2171832.96   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco AB                                       | Atlas Copco AB, Class B                                                  | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |       13876 | NS      | $187786.14    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Acceptance Corp.                              | Credit Acceptance Corp.                                                  | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1340000 | PA      | $1417162.56   | 0.05%             | 2028-12-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Ajinomoto Co., Inc.                                  | Ajinomoto Co., Inc.                                                      | CUSIP: N/A<br>LEI: 353800UT0TLROREPIC92       | Long             | EC               | CORP              | JP        |        8000 | NS      | $211651.53    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Trelleborg AB                                        | Trelleborg AB, Class B                                                   | CUSIP: N/A<br>LEI: 213800XY16PAWG2PAD14       | Long             | EC               | CORP              | SE        |        1799 | NS      | $65366.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Indutrade AB                                         | Indutrade AB                                                             | CUSIP: N/A<br>LEI: 549300FISLQ6CEFP1867       | Long             | EC               | CORP              | SE        |        2429 | NS      | $58986.81     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                              | Kingdom of Saudi Arabia                                                  | CUSIP: 80413TBC2<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     2350000 | PA      | $2364981.25   | 0.08%             | 2028-01-18      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GCI LLC                                              | GCI LLC                                                                  | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |     1583000 | PA      | $1527935.82   | 0.05%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| SLM Corp.                                            | SLM Corp.                                                                | CUSIP: 78442PGF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      130000 | PA      | $135038.54    | 0.00%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Kingdom of Spain                                     | Bonos and Obligaciones del Estado                                        | CUSIP: N/A<br>LEI: 9598007A56S18711AH60       | Long             | DBT              | NUSS              | ES        |    16903000 | PA      | $19092076.93  | 0.68%             | 2054-10-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.               | Mauser Packaging Solutions Holding Co.                                   | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     1699000 | PA      | $1713825.47   | 0.06%             | 2027-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Antofagasta plc                                      | Antofagasta plc                                                          | CUSIP: N/A<br>LEI: 213800MY6QVH4FVLD628       | Long             | EC               | CORP              | GB        |        3506 | NS      | $86463.67     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hilton Worldwide Holdings, Inc.                      | Hilton Worldwide Holdings, Inc.                                          | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |        2844 | NS      | $762419.52    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                                     | NRG Energy, Inc.                                                         | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     1204000 | PA      | $1193326.54   | 0.04%             | 2029-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Lamar Media Corp.                                    | Lamar Media Corp.                                                        | CUSIP: 513075BR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1569000 | PA      | $1515630.15   | 0.05%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises LP                                 | Icahn Enterprises LP                                                     | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      770000 | PA      | $779568.02    | 0.03%             | 2029-11-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Ryanair Holdings plc                                 | Ryanair Holdings plc                                                     | CUSIP: N/A<br>LEI: 635400BR2ROC1FVEBQ56       | Long             | EC               | CORP              | IE        |        7558 | NS      | $222225.61    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Oil & Gas, Inc.                             | Northern Oil & Gas, Inc.                                                 | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |     1599000 | PA      | $1614566.27   | 0.06%             | 2028-03-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                         | ING Groep NV                                                             | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |       27979 | NS      | $652063.07    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Symrise AG                                           | Symrise AG                                                               | CUSIP: N/A<br>LEI: 529900D82I6R9601CF26       | Long             | EC               | CORP              | DE        |        1180 | NS      | $106963.82    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                  | Herc Holdings, Inc.                                                      | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     1086000 | PA      | $1111838.11   | 0.04%             | 2029-06-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Japan                                                | Japan Government Bond                                                    | CUSIP: N/A<br>LEI: 353800WZS8AXZXFUC241       | Long             | DBT              | NUSS              | JP        |  1081550000 | PA      | $4597591.59   | 0.16%             | 2052-03-20      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| NN Group NV                                          | NN Group NV                                                              | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |        2391 | NS      | $160999.64    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Qatar National Bank QPSC                             | Qatar National Bank QPSC                                                 | CUSIP: N/A<br>LEI: 549300FFSRVBS0SQXY75       | Long             | EC               | CORP              | QA        |      136745 | NS      | $703502.32    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Traton Finance Luxembourg SA                         | Traton Finance Luxembourg SA                                             | CUSIP: N/A<br>LEI: 529900BRKIE6LKIEXD84       | Long             | DBT              | CORP              | LU        |      400000 | PA      | $462601.63    | 0.02%             | 2031-01-14      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Wharf Holdings Ltd. (The)                            | Wharf Holdings Ltd. (The)                                                | CUSIP: N/A<br>LEI: 254900JCV4TBBPX9IW91       | Long             | EC               | CORP              | HK        |       10000 | NS      | $28471.34     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| RWE AG                                               | RWE AG                                                                   | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |        5621 | NS      | $230602.87    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Zalando SE                                           | Zalando SE                                                               | CUSIP: N/A<br>LEI: 529900YRFFGH5AXU4S86       | Long             | EC               | CORP              | DE        |        1996 | NS      | $58199.55     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Suncorp Group Ltd.                                   | Suncorp Group Ltd.                                                       | CUSIP: N/A<br>LEI: 549300BVOKRTHDIWVT46       | Long             | EC               | CORP              | AU        |        9627 | NS      | $129047.74    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEOS Holdings, Inc.                                 | ENEOS Holdings, Inc.                                                     | CUSIP: N/A<br>LEI: 3538001KQ5SAOZSQTT44       | Long             | EC               | CORP              | JP        |       24300 | NS      | $127541.85    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mid-America Apartment Communities, Inc.              | Mid-America Apartment Communities, Inc.                                  | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |        4000 | NS      | $569720.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Entertainment Co. Ltd.                            | SM Entertainment Co. Ltd.                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |        5485 | NS      | $523849.24    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                          | Toronto-Dominion Bank (The)                                              | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | Long             | DBT              | CORP              | CA        |     1300000 | PA      | $1515012.59   | 0.05%             | 2029-02-16      | Fixed         | 3.19%                 | Yes           |                  2 | On Loan: No      |
| Subaru Corp.                                         | Subaru Corp.                                                             | CUSIP: N/A<br>LEI: 549300N244BVAEE6HH86       | Long             | EC               | CORP              | JP        |        5200 | NS      | $95658.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Futu Holdings Ltd.                                   | Futu Holdings Ltd.                                                       | CUSIP: 36118L106<br>LEI: 213800X4W4ZRESFPTQ37 | Long             | EC               | CORP              | KY        |         548 | NS      | $84216.64     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings, Inc.                   | BJ's Wholesale Club Holdings, Inc.                                       | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |        6937 | NS      | $734628.30    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Banca Monte dei Paschi di Siena SpA                  | Banca Monte dei Paschi di Siena SpA                                      | CUSIP: N/A<br>LEI: J4CP7MHCXR8DAQMKIL78       | Long             | DBT              | CORP              | IT        |     2150000 | PA      | $2527885.84   | 0.09%             | 2029-04-23      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                              | Level 3 Financing, Inc.                                                  | CUSIP: 527298CD3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      847000 | PA      | $762300.00    | 0.03%             | 2030-04-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Vestas Wind Systems A/S                              | Vestas Wind Systems A/S                                                  | CUSIP: N/A<br>LEI: 549300DYMC8BGZZC8844       | Long             | EC               | CORP              | DK        |        8977 | NS      | $163902.87    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| French Republic                                      | French Republic                                                          | CUSIP: N/A<br>LEI: 969500KCGF3SUYJHPV70       | Long             | DBT              | NUSS              | FR        |        5000 | PA      | $5688.90      | 0.00%             | 2031-02-25      | Fixed         | 2.70%                 | Yes           |                  2 | On Loan: No      |
| Sony Group Corp.                                     | Sony Group Corp.                                                         | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |      404500 | NS      | $9729566.69   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                             | Bristol-Myers Squibb Co.                                                 | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      161439 | NS      | $6991923.09   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sampo OYJ                                            | Sampo OYJ, Class A                                                       | CUSIP: N/A<br>LEI: 743700UF3RL386WIDA22       | Long             | EC               | CORP              | FI        |       21524 | NS      | $231031.85    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Dexia SA                                             | Dexia SA                                                                 | CUSIP: N/A<br>LEI: F4G136OIPBYND1F41110       | Long             | DBT              | NUSS              | FR        |     4200000 | PA      | $5270717.88   | 0.19%             | 2026-12-10      | Fixed         | 0.25%                 | Yes           |                  2 | On Loan: No      |
| Whirlpool Corp.                                      | Whirlpool Corp.                                                          | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     1129000 | PA      | $1126308.01   | 0.04%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CSL Ltd.                                             | CSL Ltd.                                                                 | CUSIP: N/A<br>LEI: 529900ECSECK5ZDQTE14       | Long             | EC               | CORP              | AU        |        4304 | NS      | $744524.19    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| TechnipFMC plc                                       | TechnipFMC plc                                                           | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |       33709 | NS      | $1225996.33   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd.                           | Alibaba Group Holding Ltd.                                               | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |      438224 | NS      | $6588600.87   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                      | Eli Lilly & Co.                                                          | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |        3505 | NS      | $2593945.35   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp.                                        | Danaher Corp.                                                            | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |        8540 | NS      | $1683746.40   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Copco AB                                       | Atlas Copco AB, Class A                                                  | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |      382885 | NS      | $5830720.95   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Toray Industries, Inc.                               | Toray Industries, Inc.                                                   | CUSIP: N/A<br>LEI: 35380099TCYR5FHT0A11       | Long             | EC               | CORP              | JP        |       12300 | NS      | $84130.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Link REIT                                            | Link                                                                     | CUSIP: N/A<br>LEI: 529900XUE70U36QX5M62       | Long             | EC               | CORP              | HK        |       23100 | NS      | $128707.54    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Prime Healthcare Services, Inc.                      | Prime Healthcare Services, Inc.                                          | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1334000 | PA      | $1325662.50   | 0.05%             | 2029-09-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Adyen NV                                             | Adyen NV                                                                 | CUSIP: N/A<br>LEI: 724500973ODKK3IFQ447       | Long             | EC               | CORP              | NL        |         224 | NS      | $384194.06    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                               | Howmet Aerospace, Inc.                                                   | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |       36412 | NS      | $6545785.24   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Infrastructure Holdings Ltd.                      | CK Infrastructure Holdings Ltd.                                          | CUSIP: N/A<br>LEI: 5299005U11RQ1C27MR12       | Long             | EC               | CORP              | BM        |        5500 | NS      | $38736.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | U.S. Treasury 2 Year Note                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         163 | NC      | $-142528.79   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Nederlandse Waterschapsbank NV                       | Nederlandse Waterschapsbank NV                                           | CUSIP: N/A<br>LEI: JLP5FSPH9WPSHY3NIM24       | Long             | DBT              | NUSS              | NL        |     3120000 | PA      | $1994300.78   | 0.07%             | 2027-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-8521.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Meituan                                              | Meituan                                                                  | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | KY        |       57100 | NS      | $880913.02    | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Kinsale Capital Group, Inc.                          | Kinsale Capital Group, Inc.                                              | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |         581 | NS      | $256040.89    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finance Ltd.                                   | Bajaj Finance Ltd.                                                       | CUSIP: N/A<br>LEI: 335800YTEXC3DO4Z6F68       | Long             | EC               | CORP              | IN        |      103080 | NS      | $1031559.58   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                       | Alphabet, Inc., Class C                                                  | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |       38476 | NS      | $7420481.36   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloud Software Group, Inc.                           | Cloud Software Group, Inc.                                               | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     3945000 | PA      | $3983996.33   | 0.14%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Goodman Group                                        | Goodman Group                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |       18056 | NS      | $403704.54    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                 | Clear Channel Outdoor Holdings, Inc.                                     | CUSIP: 18453HAE6<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     2793000 | PA      | $2926340.61   | 0.10%             | 2028-09-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Informa plc                                          | Informa plc                                                              | CUSIP: N/A<br>LEI: 5493006VM2LKUPSEDU20       | Long             | EC               | CORP              | GB        |       11695 | NS      | $133732.82    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PetroChina Co. Ltd.                                  | PetroChina Co. Ltd., Class H                                             | CUSIP: N/A<br>LEI: 529900RPY4YG47TRSV05       | Long             | EC               | CORP              | CN        |      750000 | NS      | $732923.61    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                       | Commonwealth Bank of Australia                                           | CUSIP: N/A<br>LEI: MSFSBD3QN1GSN7Q6C537       | Long             | EC               | CORP              | AU        |       14876 | NS      | $1688865.86   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Service Properties Trust                             | Service Properties Trust                                                 | CUSIP: 81761LAD4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |      404000 | PA      | $418622.38    | 0.01%             | 2029-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                          | McGraw-Hill Education, Inc.                                              | CUSIP: 57767XAA8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |     2222000 | PA      | $2213231.10   | 0.08%             | 2028-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Inner Mongolia Yili Industrial Group Co. Ltd.        | Inner Mongolia Yili Industrial Group Co. Ltd., Class A                   | CUSIP: N/A<br>LEI: 3003002Q2A863JPQFH06       | Long             | EC               | CORP              | CN        |       88700 | NS      | $336815.29    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nissin Foods Holdings Co. Ltd.                       | Nissin Foods Holdings Co. Ltd.                                           | CUSIP: N/A<br>LEI: 529900YMZMNSHC1W6V41       | Long             | EC               | CORP              | JP        |        1700 | NS      | $32245.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Denmark                                   | Kingdom of Denmark                                                       | CUSIP: N/A<br>LEI: 549300PTO6LS1PTM6607       | Long             | DBT              | NUSS              | DK        |     3009000 | PA      | $447511.62    | 0.02%             | 2027-11-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Neurocrine Biosciences, Inc.                         | Neurocrine Biosciences, Inc.                                             | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |        9119 | NS      | $1169329.37   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins, Inc.                                        | Cummins, Inc.                                                            | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |        3104 | NS      | $1141092.48   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Smyrna Ready Mix Concrete LLC                        | Smyrna Ready Mix Concrete LLC                                            | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |      858000 | PA      | $855166.88    | 0.03%             | 2028-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| AMC Networks, Inc.                                   | AMC Networks, Inc.                                                       | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |     2216000 | PA      | $2274114.18   | 0.08%             | 2029-01-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                       | US Foods, Inc.                                                           | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |      595000 | PA      | $582706.11    | 0.02%             | 2029-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-39356.03    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Demant A/S                                           | Demant A/S                                                               | CUSIP: N/A<br>LEI: 213800RM6L9LN78BVA56       | Long             | EC               | CORP              | DK        |         760 | NS      | $28794.58     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Canada                              | National Bank of Canada                                                  | CUSIP: 63307A3D5<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |      250000 | PA      | $251402.24    | 0.01%             | 2028-02-01      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp.                                  | Realty Income Corp.                                                      | CUSIP: N/A<br>LEI: 549300CUWDAUZSH43859       | Long             | DBT              | CORP              | US        |     1600000 | PA      | $1969549.73   | 0.07%             | 2030-07-06      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Beijer Ref AB                                        | Beijer Ref AB                                                            | CUSIP: N/A<br>LEI: 549300PZZEUVH08H4G75       | Long             | EC               | CORP              | SE        |        3422 | NS      | $57444.76     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Insmed, Inc.                                         | Insmed, Inc.                                                             | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |       16339 | NS      | $1752847.92   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit, Inc.                                         | Intuit, Inc.                                                             | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |        5247 | NS      | $4119577.11   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Amadeus IT Group SA                                  | Amadeus IT Group SA                                                      | CUSIP: N/A<br>LEI: 9598004A3FTY3TEHHN09       | Long             | EC               | CORP              | ES        |        4005 | NS      | $321576.85    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JDE Peet's NV                                        | JDE Peet's NV                                                            | CUSIP: N/A<br>LEI: 724500EHG519SE5ZRT89       | Long             | EC               | CORP              | NL        |        1502 | NS      | $44541.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | S&P E-Mini Communication Services Index                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         315 | NC      | $1550738.70   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Jeronimo Martins SGPS SA                             | Jeronimo Martins SGPS SA                                                 | CUSIP: N/A<br>LEI: 259400A8SZP10GB5IB19       | Long             | EC               | CORP              | PT        |       18133 | NS      | $442040.37    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                         | Marriott International, Inc., Class A                                    | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |       23089 | NS      | $6091570.87   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-71252.56    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                             | Bausch Health Cos., Inc.                                                 | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     1725000 | PA      | $1772437.50   | 0.06%             | 2028-09-30      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Temasek Financial I Ltd.                             | Temasek Financial I Ltd.                                                 | CUSIP: 87973PAE4<br>LEI: 549300XMGMDF3VRJMF12 | Long             | DBT              | CORP              | SG        |     6158000 | PA      | $6069078.48   | 0.21%             | 2028-08-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Hong Kong & China Gas Co. Ltd.                       | Hong Kong & China Gas Co. Ltd.                                           | CUSIP: N/A<br>LEI: 254900P7BETXGC7YU827       | Long             | EC               | CORP              | HK        |       99452 | NS      | $88767.20     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Julius Baer Group Ltd.                               | Julius Baer Group Ltd.                                                   | CUSIP: N/A<br>LEI: 5299007MF0604ZGJER92       | Long             | EC               | CORP              | CH        |        1831 | NS      | $123893.37    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ontario Teachers' Finance Trust                      | Ontario Teachers' Finance Trust                                          | CUSIP: N/A<br>LEI: 635400ZZE5J8OXXBBY26       | Long             | DBT              | NUSS              | CA        |     2896000 | PA      | $2859848.98   | 0.10%             | 2030-11-25      | Fixed         | 0.05%                 | Yes           |                  2 | On Loan: No      |
| Prysmian SpA                                         | Prysmian SpA                                                             | CUSIP: N/A<br>LEI: 529900X0H1IO3RS1A464       | Long             | EC               | CORP              | IT        |        2498 | NS      | $199499.06    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                           | Constellation Brands, Inc., Class A                                      | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |        1864 | NS      | $311362.56    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Electricite de France SA                             | Electricite de France SA                                                 | CUSIP: N/A<br>LEI: 549300X3UK4GG3FNMO06       | Long             | DBT              | NUSS              | FR        |      400000 | PA      | $446209.20    | 0.02%             | 2027-12-01      | Variable      | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Halma plc                                            | Halma plc                                                                | CUSIP: N/A<br>LEI: 2138007FRGLUR9KGBT40       | Long             | EC               | CORP              | GB        |        3375 | NS      | $144411.22    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Snowflake, Inc.                                      | Snowflake, Inc., Class A                                                 | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |       10713 | NS      | $2394355.50   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Euro-BTP                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         -17 | NC      | $1281.37      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Kasei Corp.                                    | Asahi Kasei Corp.                                                        | CUSIP: N/A<br>LEI: 353800GPI4Z3MGDGN142       | Long             | EC               | CORP              | JP        |       10900 | NS      | $75839.58     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Saia, Inc.                                           | Saia, Inc.                                                               | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |        3634 | NS      | $1098340.16   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                                            | Danone SA                                                                | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               | CORP              | FR        |        5739 | NS      | $469662.06    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                                            | Sanofi SA                                                                | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |       33832 | NS      | $3037124.06   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Oversea-Chinese Banking Corp. Ltd.                   | Oversea-Chinese Banking Corp. Ltd.                                       | CUSIP: N/A<br>LEI: 5493007O3QFXCPOGWK22       | Long             | EC               | CORP              | SG        |       30100 | NS      | $390070.91    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sunoco LP                                            | Sunoco LP                                                                | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      694000 | PA      | $693538.77    | 0.02%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Rocket Software, Inc.                                | Rocket Software, Inc.                                                    | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |     2089000 | PA      | $2155751.91   | 0.08%             | 2028-11-28      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                             | SBA Communications Corp.                                                 | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |        1790 | NS      | $402248.80    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Next plc                                             | Next plc                                                                 | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |        1038 | NS      | $168489.21    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Post Bank Co. Ltd.                             | Japan Post Bank Co. Ltd.                                                 | CUSIP: N/A<br>LEI: 5493006JVO6N2HC2XZ76       | Long             | EC               | CORP              | JP        |       16000 | NS      | $178580.74    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Securities Lending Money Market Fund        | JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares    | CUSIP: 46645V642<br>LEI: 5493002FD4HXUJXMRO62 | Long             | STIV             | RF                | US        |    16718690 | NS      | $16718690.06  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortescue Ltd.                                       | Fortescue Ltd.                                                           | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |       15054 | NS      | $170324.90    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| XCMG Construction Machinery Co. Ltd.                 | XCMG Construction Machinery Co. Ltd., Class A                            | CUSIP: N/A<br>LEI: 300300QGG1VFJ0WTJE78       | Long             | EC               | CORP              | CN        |      325333 | NS      | $377919.92    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK plc                                              | GSK plc                                                                  | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |       36592 | NS      | $673073.19    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Brambles Ltd.                                        | Brambles Ltd.                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |       12203 | NS      | $186699.19    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                 | Prime Security Services Borrower LLC                                     | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1622000 | PA      | $1563680.75   | 0.06%             | 2027-08-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Mondi plc                                            | Mondi plc                                                                | CUSIP: N/A<br>LEI: 213800LOZA69QFDC9N34       | Long             | EC               | CORP              | GB        |        3924 | NS      | $53045.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan                                                | Japan Government Bond                                                    | CUSIP: N/A<br>LEI: 353800WZS8AXZXFUC241       | Long             | DBT              | NUSS              | JP        |   296250000 | PA      | $1338959.64   | 0.05%             | 2055-03-20      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                      | Santander UK Group Holdings plc                                          | CUSIP: 80281LAM7<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |      200000 | PA      | $199625.18    | 0.01%             | 2026-08-21      | Variable      | 1.53%                 | No            |                  2 | On Loan: No      |
| Mettler-Toledo International, Inc.                   | Mettler-Toledo International, Inc.                                       | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |         537 | NS      | $662486.16    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Corp.                                       | Sumitomo Corp.                                                           | CUSIP: N/A<br>LEI: V82KK8NH1P0JS71FJC05       | Long             | EC               | CORP              | JP        |        9700 | NS      | $247929.83    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Champions Financing, Inc.                            | Champions Financing, Inc.                                                | CUSIP: 15870LAA6<br>LEI: 391200ZDD75EGEUJ7625 | Long             | DBT              | CORP              | US        |     1574000 | PA      | $1457388.16   | 0.05%             | 2029-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: —       |
| Cleveland-Cliffs, Inc.                               | Cleveland-Cliffs, Inc.                                                   | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     2357000 | PA      | $2358124.29   | 0.08%             | 2029-11-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Japan Airlines Co. Ltd.                              | Japan Airlines Co. Ltd.                                                  | CUSIP: N/A<br>LEI: 3538002MH5L1QZZ93477       | Long             | EC               | CORP              | JP        |        1300 | NS      | $25814.75     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Apple, Inc.                                          | Apple, Inc.                                                              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      160783 | NS      | $33373727.31  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| QVC, Inc.                                            | QVC, Inc.                                                                | CUSIP: 747262BA0<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |     1387000 | PA      | $623249.56    | 0.02%             | 2029-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: —       |
| Lithia Motors, Inc.                                  | Lithia Motors, Inc.                                                      | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     1765000 | PA      | $1663033.48   | 0.06%             | 2029-06-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Fastighets AB Balder                                 | Fastighets AB Balder, Class B                                            | CUSIP: N/A<br>LEI: 549300GHKJCEZOAEUU82       | Long             | EC               | CORP              | SE        |        6313 | NS      | $42625.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Daito Trust Construction Co. Ltd.                    | Daito Trust Construction Co. Ltd.                                        | CUSIP: N/A<br>LEI: 353800QQ4DRI3KXS3038       | Long             | EC               | CORP              | JP        |         500 | NS      | $51188.86     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Philips NV                               | Koninklijke Philips NV                                                   | CUSIP: N/A<br>LEI: H1FJE8H61JGM1JSGM897       | Long             | EC               | CORP              | NL        |        7398 | NS      | $193201.37    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Brenntag SE                                          | Brenntag SE                                                              | CUSIP: N/A<br>LEI: NNROIXVWJ7CPSR27SV97       | Long             | EC               | CORP              | DE        |        1091 | NS      | $67684.74     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| N/A                                                  | Canada 5 Year Bond                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | CA        |          24 | NC      | $-5799.85     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Logitech International SA                            | Logitech International SA (Registered)                                   | CUSIP: N/A<br>LEI: 549300SN6PRK6IJJC215       | Long             | EC               | CORP              | CH        |        1352 | NS      | $125366.78    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                     | Clarivate Science Holdings Corp.                                         | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2565000 | PA      | $2451834.66   | 0.09%             | 2028-07-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Japan Bank for International Cooperation             | Japan Bank for International Cooperation                                 | CUSIP: 471048CP1<br>LEI: 549300TJ3QFYVCTSCJ29 | Long             | DBT              | NUSS              | JP        |      674000 | PA      | $649505.76    | 0.02%             | 2027-01-20      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Moody's Corp.                                        | Moody's Corp.                                                            | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |        3222 | NS      | $1661682.06   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco plc                         | British American Tobacco plc                                             | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |       17610 | NS      | $943497.23    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Permian Resources Operating LLC                      | Permian Resources Operating LLC                                          | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     2001000 | PA      | $2046055.46   | 0.07%             | 2027-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Apple Hospitality REIT, Inc.                         | Apple Hospitality REIT, Inc.                                             | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |        8320 | NS      | $97760.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Alta Equipment Group, Inc.                           | Alta Equipment Group, Inc.                                               | CUSIP: 02128LAC0<br>LEI: 549300DGOB28CLGS1X27 | Long             | DBT              | CORP              | US        |      780000 | PA      | $739707.54    | 0.03%             | 2029-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: —       |
| Banco de Sabadell SA                                 | Banco de Sabadell SA                                                     | CUSIP: N/A<br>LEI: SI5RG2M0WQQLZCXKRM20       | Long             | DBT              | CORP              | ES        |     1000000 | PA      | $1196669.51   | 0.04%             | 2030-09-13      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Check Point Software Technologies Ltd.               | Check Point Software Technologies Ltd.                                   | CUSIP: N/A<br>LEI: 2549003ZVBH73EPNS513       | Long             | EC               | CORP              | IL        |         771 | NS      | $143560.20    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp.                                  | Expand Energy Corp.                                                      | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |       11578 | NS      | $1213142.84   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitec Bank Holdings Ltd.                           | Capitec Bank Holdings Ltd.                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | ZA        |        2830 | NS      | $548591.18    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Denmark                                   | Kingdom of Denmark                                                       | CUSIP: N/A<br>LEI: 549300PTO6LS1PTM6607       | Long             | DBT              | NUSS              | DK        |     3192000 | PA      | $588621.36    | 0.02%             | 2039-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Province of Ontario Canada                           | Province of Ontario                                                      | CUSIP: N/A<br>LEI: C7PVKCRGLG18EBQGZV36       | Long             | DBT              | NUSS              | CA        |     5800000 | PA      | $5732149.76   | 0.20%             | 2030-11-25      | Fixed         | 0.01%                 | Yes           |                  2 | On Loan: No      |
| Holcim Finance Luxembourg SA                         | Holcim Finance Luxembourg SA                                             | CUSIP: N/A<br>LEI: 529900XU3Z9D2HLBR716       | Long             | DBT              | CORP              | LU        |     2108000 | PA      | $2081695.92   | 0.07%             | 2031-04-23      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| Southern Power Co.                                   | Southern Power Co.                                                       | CUSIP: 843646AQ3<br>LEI: 5LADC78JBG2BMZD5XF57 | Long             | DBT              | CORP              | US        |      150000 | PA      | $170341.75    | 0.01%             | 2026-06-20      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Swedbank AB                                          | Swedbank AB, Class A                                                     | CUSIP: N/A<br>LEI: M312WZV08Y7LYUC71685       | Long             | EC               | CORP              | SE        |        7547 | NS      | $200961.89    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| DoorDash, Inc.                                       | DoorDash, Inc., Class A                                                  | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |       10660 | NS      | $2667665.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv, Inc.                                         | Fiserv, Inc.                                                             | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |        5738 | NS      | $797237.72    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sino Land Co. Ltd.                                   | Sino Land Co. Ltd.                                                       | CUSIP: N/A<br>LEI: 529900G5P51053HJVZ92       | Long             | EC               | CORP              | HK        |       32000 | NS      | $36886.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                     | Sabre GLBL, Inc.                                                         | CUSIP: 78573NAH5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |      318000 | PA      | $334422.45    | 0.01%             | 2027-12-15      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| NMC Health plc                                       | NMC Health plc                                                           | CUSIP: N/A<br>LEI: 2138008YQEVWBE1V2M52       | Long             | EC               | CORP              | GB        |        3112 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NextEra Energy, Inc.                                 | NextEra Energy, Inc.                                                     | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |       96034 | NS      | $6824176.04   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Piraeus Financial Holdings SA                        | Piraeus Financial Holdings SA                                            | CUSIP: N/A<br>LEI: M6AD1Y1KW32H8THQ6F76       | Long             | EC               | CORP              | GR        |      113422 | NS      | $872151.48    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| China CITIC Bank Corp. Ltd.                          | China CITIC Bank Corp. Ltd., Class H                                     | CUSIP: N/A<br>LEI: 300300C1030211000384       | Long             | EC               | CORP              | CN        |      717000 | NS      | $666180.64    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Recruit Holdings Co. Ltd.                            | Recruit Holdings Co. Ltd.                                                | CUSIP: N/A<br>LEI: 353800R2LRSMVVC4I806       | Long             | EC               | CORP              | JP        |       12500 | NS      | $741639.58    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Raia Drogasil SA                                     | Raia Drogasil SA                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      115001 | NS      | $277256.83    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirin Holdings Co. Ltd.                              | Kirin Holdings Co. Ltd.                                                  | CUSIP: 497350108<br>LEI: 353800GBVL72LLMTYM96 | Long             | EC               | CORP              | JP        |        6900 | NS      | $90925.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Komatsu Ltd.                                         | Komatsu Ltd.                                                             | CUSIP: N/A<br>LEI: 5493004LQ0B4T7QPQV17       | Long             | EC               | CORP              | JP        |        8000 | NS      | $257743.21    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MatsukiyoCocokara & Co.                              | MatsukiyoCocokara & Co.                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        3000 | NS      | $61604.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Southwest Airlines Co.                               | Southwest Airlines Co.                                                   | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |       68768 | NS      | $2126994.24   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| adidas AG                                            | adidas AG                                                                | CUSIP: N/A<br>LEI: 549300JSX0Z4CW0V5023       | Long             | EC               | CORP              | DE        |        1520 | NS      | $290516.15    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Entain plc                                           | Entain plc                                                               | CUSIP: N/A<br>LEI: 213800GNI3K45LQR8L28       | Long             | EC               | CORP              | IM        |        5401 | NS      | $72528.55     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                     | Boeing Co. (The)                                                         | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |        5221 | NS      | $1158226.64   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sartorius Stedim Biotech                             | Sartorius Stedim Biotech                                                 | CUSIP: N/A<br>LEI: 52990006IVXY7GCSSR39       | Long             | EC               | CORP              | FR        |         260 | NS      | $51955.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sartorius AG                                         | Sartorius AG (Preference)                                                | CUSIP: N/A<br>LEI: 529900EQV2DY4FOAMU38       | Long             | EC               | CORP              | DE        |         233 | NS      | $49617.81     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Sika AG                                              | Sika AG (Registered)                                                     | CUSIP: N/A<br>LEI: 549300R3N69ECGYPU434       | Long             | EC               | CORP              | CH        |        1355 | NS      | $319752.48    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Export-Import Bank of Korea                          | Export-Import Bank of Korea                                              | CUSIP: 302154DU0<br>LEI: 549300APVP4R32PI3Y06 | Long             | DBT              | NUSS              | KR        |     1394000 | PA      | $1396843.76   | 0.05%             | 2026-01-11      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Galaxy Entertainment Group Ltd.                      | Galaxy Entertainment Group Ltd.                                          | CUSIP: N/A<br>LEI: 549300ZSEBV3HR826S10       | Long             | EC               | CORP              | HK        |      107000 | NS      | $521803.10    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinetik Holdings LP                                  | Kinetik Holdings LP                                                      | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     1941000 | PA      | $1985083.99   | 0.07%             | 2028-12-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ICITII                                               | ICITII                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |        9113 | PA      | $7294.34      | 0.00%             | 2033-01-31      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| Dai-ichi Life Holdings, Inc.                         | Dai-ichi Life Holdings, Inc.                                             | CUSIP: N/A<br>LEI: 549300ZUFXI7JXZVTZ25       | Long             | EC               | CORP              | JP        |       31300 | NS      | $247651.31    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Whitbread plc                                        | Whitbread plc                                                            | CUSIP: N/A<br>LEI: 21380099VMZKRMN3EX36       | Long             | EC               | CORP              | GB        |        1556 | NS      | $62505.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FDJ United                                           | FDJ UNITED                                                               | CUSIP: N/A<br>LEI: 969500R4CLSQFTYYI535       | Long             | EC               | CORP              | FR        |         988 | NS      | $30817.55     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust               | Velocity Commercial Capital Loan Trust, Series 2018-2, Class M2          | CUSIP: 92259BAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      106660 | PA      | $101056.31    | 0.00%             | 2048-10-26      | Variable      | 4.51%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Boerse AG                                   | Deutsche Boerse AG                                                       | CUSIP: N/A<br>LEI: 529900G3SW56SHYNPR95       | Long             | EC               | CORP              | DE        |        4142 | NS      | $1198642.70   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Sonic Healthcare Ltd.                                | Sonic Healthcare Ltd.                                                    | CUSIP: N/A<br>LEI: 549300NQQ5L2NONWR862       | Long             | EC               | CORP              | AU        |        4057 | NS      | $71641.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Holdings, Inc.                   | Nationstar Mortgage Holdings, Inc.                                       | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      753000 | PA      | $753780.11    | 0.03%             | 2027-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Bankinter SA                                         | Bankinter SA                                                             | CUSIP: N/A<br>LEI: VWMYAEQSTOPNV0SUGU82       | Long             | DBT              | CORP              | ES        |     2300000 | PA      | $2594805.19   | 0.09%             | 2026-07-08      | Fixed         | 0.88%                 | Yes           |                  2 | On Loan: No      |
| SBI Holdings, Inc.                                   | SBI Holdings, Inc.                                                       | CUSIP: N/A<br>LEI: 353800L6LMHYIPSMRQ17       | Long             | EC               | CORP              | JP        |        2500 | NS      | $92869.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Group plc                                    | Compass Group plc                                                        | CUSIP: N/A<br>LEI: 2138008M6MH9OZ6U2T68       | Long             | EC               | CORP              | GB        |       62665 | NS      | $2202015.17   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Nitto Denko Corp.                                    | Nitto Denko Corp.                                                        | CUSIP: N/A<br>LEI: 3538009GX5P09USH2J25       | Long             | EC               | CORP              | JP        |        6300 | NS      | $130371.64    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wharf Real Estate Investment Co. Ltd.                | Wharf Real Estate Investment Co. Ltd.                                    | CUSIP: N/A<br>LEI: 529900QLPKS8U9QOPB59       | Long             | EC               | CORP              | KY        |       15000 | NS      | $47622.20     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Credito Emiliano SpA                                 | Credito Emiliano SpA                                                     | CUSIP: N/A<br>LEI: 8156004B244AA70DE787       | Long             | DBT              | CORP              | IT        |     2000000 | PA      | $2324813.95   | 0.08%             | 2029-04-18      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Kweichow Moutai Co. Ltd.                             | Kweichow Moutai Co. Ltd., Class A                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |        2603 | NS      | $512262.92    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $7693.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                   | Vodafone Group plc                                                       | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |      177315 | NS      | $192244.48    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Metso OYJ                                            | Metso OYJ                                                                | CUSIP: N/A<br>LEI: 549300R0VN9C371W0E07       | Long             | EC               | CORP              | FI        |        5527 | NS      | $69415.21     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $14.24        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| D'ieteren Group                                      | D'ieteren Group                                                          | CUSIP: N/A<br>LEI: 549300DV5KJ23OKVTW34       | Long             | EC               | CORP              | BE        |         189 | NS      | $37333.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MYT Holding LLC                                      | MYT Holding LLC                                                          | CUSIP: 55406N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       23161 | NS      | $5790.25      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                     | Goodyear Tire & Rubber Co. (The)                                         | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     1748000 | PA      | $1695754.38   | 0.06%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CapitaLand Investment Ltd.                           | CapitaLand Investment Ltd.                                               | CUSIP: N/A<br>LEI: 254900AT4UQDU7SNXX49       | Long             | EC               | CORP              | SG        |       20600 | NS      | $43873.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                             | Venture Global LNG, Inc.                                                 | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     3835000 | PA      | $3888747.53   | 0.14%             | 2030-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Cheniere Energy, Inc.                                | Cheniere Energy, Inc.                                                    | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |        4696 | NS      | $1107692.48   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AP Moller - Maersk A/S                               | AP Moller - Maersk A/S, Class B                                          | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |          37 | NS      | $73066.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                               | Mercedes-Benz Group AG                                                   | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |        6420 | NS      | $363502.20    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                | Bank of America Corp., Series N                                          | CUSIP: 06051GJQ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      250000 | PA      | $245527.01    | 0.01%             | 2027-03-11      | Variable      | 1.66%                 | No            |                  2 | On Loan: No      |
| Ross Stores, Inc.                                    | Ross Stores, Inc.                                                        | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |       53161 | NS      | $7258602.94   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Alt-A Securities Mortgage Loan Trust        | Deutsche Alt-A Securities Mortgage Loan Trust, Series 2006-AF1, Class A4 | CUSIP: 251510NC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |           1 | PA      | $1.04         | 0.00%             | 2036-04-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| HL Mando Co. Ltd.                                    | HL Mando Co. Ltd.                                                        | CUSIP: N/A<br>LEI: 988400P5GM9DGVVOJQ79       | Long             | EC               | CORP              | KR        |       15307 | NS      | $380471.03    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Elisa OYJ                                            | Elisa OYJ                                                                | CUSIP: N/A<br>LEI: 743700TU2S3DXWGU7H32       | Long             | EC               | CORP              | FI        |        1264 | NS      | $65036.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Embecta Corp.                                        | Embecta Corp.                                                            | CUSIP: 29082KAA3<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |     1569000 | PA      | $1422997.52   | 0.05%             | 2030-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| American Express Co.                                 | American Express Co.                                                     | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |        6890 | NS      | $2062245.90   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Property REIT, Inc.                       | Brookfield Property REIT, Inc.                                           | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      102000 | PA      | $99077.75     | 0.00%             | 2027-04-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| EssilorLuxottica SA                                  | EssilorLuxottica SA                                                      | CUSIP: N/A<br>LEI: 549300M3VH1A3ER1TB49       | Long             | EC               | CORP              | FR        |        2644 | NS      | $786205.43    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | U.S. Treasury 5 Year Note                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        5051 | NC      | $3584656.32   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                             | U.S. Treasury Notes                                                      | CUSIP: 91282CLL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      200000 | PA      | $197796.88    | 0.01%             | 2027-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                  | Rocket Mortgage LLC                                                      | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2580000 | PA      | $2515679.83   | 0.09%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Uber Technologies, Inc.                              | Uber Technologies, Inc.                                                  | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |       22940 | NS      | $2012985.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-8028.46     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Neste OYJ                                            | Neste OYJ                                                                | CUSIP: N/A<br>LEI: 5493009GY1X8GQ66AM14       | Long             | EC               | CORP              | FI        |        3719 | NS      | $58695.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA                                | Spotify Technology SA                                                    | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | LU        |        4080 | NS      | $2556283.20   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Svenska Handelsbanken AB                             | Svenska Handelsbanken AB, Class A                                        | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | EC               | CORP              | SE        |       12966 | NS      | $157982.65    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                 | GNMA II, 30 Year                                                         | CUSIP: 36179WQB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     6032308 | PA      | $5277259.04   | 0.19%             | 2051-10-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Argenx SE                                            | Argenx SE                                                                | CUSIP: N/A<br>LEI: 7245009C5FZE6G9ODQ71       | Long             | EC               | CORP              | NL        |         224 | NS      | $150445.08    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Edison International                                 | Edison International                                                     | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |       10368 | NS      | $540380.16    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Marks & Spencer Group plc                            | Marks & Spencer Group plc                                                | CUSIP: N/A<br>LEI: 213800EJP14A79ZG1X44       | Long             | EC               | CORP              | GB        |       18270 | NS      | $83906.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Coloplast A/S                                        | Coloplast A/S, Class B                                                   | CUSIP: N/A<br>LEI: 529900NN7SOJ5QG82X67       | Long             | EC               | CORP              | DK        |        1122 | NS      | $102474.55    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Pool                                           | FHLMC UMBS, 30 Year                                                      | CUSIP: 3142J6AQ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     6504635 | PA      | $6595519.89   | 0.23%             | 2055-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MGIC Investment Corp.                                | MGIC Investment Corp.                                                    | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |       53884 | NS      | $1395595.60   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                    | Johnson & Johnson                                                        | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      117028 | NS      | $19279192.72  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingdom of Sweden                                    | Kingdom of Sweden                                                        | CUSIP: N/A<br>LEI: ERE94C0BSULG2RM19605       | Long             | DBT              | NUSS              | SE        |     5915000 | PA      | $572263.27    | 0.02%             | 2029-11-12      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Groupe Bruxelles Lambert NV                          | Groupe Bruxelles Lambert NV                                              | CUSIP: N/A<br>LEI: 549300KV0ZEHT2KVU152       | Long             | EC               | CORP              | BE        |         738 | NS      | $61696.89     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Gas Co. Ltd.                                   | Tokyo Gas Co. Ltd.                                                       | CUSIP: N/A<br>LEI: 353800678EIJLOQSWZ83       | Long             | EC               | CORP              | JP        |        2900 | NS      | $97116.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                    | Merck & Co., Inc.                                                        | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |       14802 | NS      | $1156332.24   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                    | Venture Global Calcasieu Pass LLC                                        | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     1503000 | PA      | $1418724.08   | 0.05%             | 2029-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Mastercard, Inc.                                     | Mastercard, Inc., Class A                                                | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       11151 | NS      | $6316706.97   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment plc                            | Flutter Entertainment plc                                                | CUSIP: N/A<br>LEI: 635400EG4YIJLJMZJ782       | Long             | EC               | CORP              | IE        |        4588 | NS      | $1386768.88   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $12594.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays plc                                         | Barclays plc                                                             | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |      127135 | NS      | $621438.53    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Province of Ontario Canada                           | Province of Ontario                                                      | CUSIP: 68333ZBG1<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |    27925000 | PA      | $19913693.17  | 0.70%             | 2034-12-02      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                             | Lloyds Banking Group plc                                                 | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               | CORP              | GB        |      534686 | NS      | $548292.89    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                           | AT&T, Inc.                                                               | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      168360 | NS      | $4614747.60   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Korea                                    | Republic of Korea                                                        | CUSIP: N/A<br>LEI: 549300O0QCVSQGPGDT58       | Long             | DBT              | NUSS              | KR        |     1276000 | PA      | $1448540.86   | 0.05%             | 2025-09-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                       | Community Health Systems, Inc.                                           | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     1974000 | PA      | $1977107.08   | 0.07%             | 2027-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| American Homes 4 Rent                                | American Homes 4 Rent, Class A                                           | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |       16973 | NS      | $588793.37    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaris SA                                           | Tenaris SA                                                               | CUSIP: N/A<br>LEI: 549300Y7C05BKC4HZB40       | Long             | EC               | CORP              | LU        |        3633 | NS      | $63450.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank SA                                         | CaixaBank SA                                                             | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | DBT              | CORP              | ES        |     1900000 | PA      | $2305584.19   | 0.08%             | 2029-07-19      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of Ireland Group plc                            | Bank of Ireland Group plc                                                | CUSIP: N/A<br>LEI: 635400C8EK6DRI12LJ39       | Long             | EC               | CORP              | IE        |        8757 | NS      | $117431.19    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Rexel SA                                             | Rexel SA                                                                 | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62       | Long             | EC               | CORP              | FR        |        1988 | NS      | $60086.22     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Guatemala                                | Republic of Guatemala                                                    | CUSIP: 401494BA6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |      611000 | PA      | $613444.00    | 0.02%             | 2036-08-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Akzo Nobel NV                                        | Akzo Nobel NV                                                            | CUSIP: N/A<br>LEI: 724500XYIJUGXAA5QD70       | Long             | EC               | CORP              | NL        |        1518 | NS      | $95332.61     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Delivery Hero SE                                     | Delivery Hero SE                                                         | CUSIP: N/A<br>LEI: 529900C3EX1FZGE48X78       | Long             | EC               | CORP              | DE        |        1698 | NS      | $50675.92     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NESCO Holdings II, Inc.                              | NESCO Holdings II, Inc.                                                  | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |     1833000 | PA      | $1787190.51   | 0.06%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PBF Holding Co. LLC                                  | PBF Holding Co. LLC                                                      | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      298000 | PA      | $295379.72    | 0.01%             | 2030-03-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                       | BNP Paribas SA                                                           | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |        9047 | NS      | $824889.90    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-813536.72   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-39638.64    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-91658.68    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Genting New York LLC                                 | Genting New York LLC                                                     | CUSIP: 37255JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      544000 | PA      | $560085.72    | 0.02%             | 2029-10-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Foreign Exchange EUR/USD                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |          66 | NC      | $-40952.90    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Sonova Holding AG                                    | Sonova Holding AG (Registered)                                           | CUSIP: N/A<br>LEI: 5299004A0QNX7FBNHS61       | Long             | EC               | CORP              | CH        |         451 | NS      | $122765.80    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.          | Taiwan Semiconductor Manufacturing Co. Ltd.                              | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |      634756 | NS      | $24437653.74  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Paramount Global                                     | Paramount Global                                                         | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     1114000 | PA      | $1097287.38   | 0.04%             | 2062-03-30      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                 | Ally Financial, Inc.                                                     | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |       13080 | NS      | $495078.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United Wholesale Mortgage LLC                        | United Wholesale Mortgage LLC                                            | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |      361000 | PA      | $353108.72    | 0.01%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| China Resources Power Holdings Co. Ltd.              | China Resources Power Holdings Co. Ltd.                                  | CUSIP: N/A<br>LEI: 529900K60FC0AI053735       | Long             | EC               | CORP              | HK        |      150000 | NS      | $371713.53    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bright Horizons Family Solutions, Inc.               | Bright Horizons Family Solutions, Inc.                                   | CUSIP: 109194100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6256 | NS      | $707553.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BE Semiconductor Industries NV                       | BE Semiconductor Industries NV                                           | CUSIP: N/A<br>LEI: 7245007A1YFLI2GNYX06       | Long             | EC               | CORP              | NL        |         721 | NS      | $97415.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                               | Tenet Healthcare Corp.                                                   | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     3580000 | PA      | $3580218.38   | 0.13%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Hyundai Glovis Co. Ltd.                              | Hyundai Glovis Co. Ltd.                                                  | CUSIP: N/A<br>LEI: 988400U6RDXNJ5ZRN304       | Long             | EC               | CORP              | KR        |        3861 | NS      | $407849.65    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kia Corp.                                            | Kia Corp.                                                                | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |       40532 | NS      | $2965758.48   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Yamaha Motor Co. Ltd.                                | Yamaha Motor Co. Ltd.                                                    | CUSIP: N/A<br>LEI: 3538004LR5NXILJDHY88       | Long             | EC               | CORP              | JP        |        8200 | NS      | $59309.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EastGroup Properties, Inc.                           | EastGroup Properties, Inc.                                               | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |        1248 | NS      | $203723.52    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil SA                        | Industria de Diseno Textil SA                                            | CUSIP: N/A<br>LEI: 549300TTCXZOGZM2EY83       | Long             | EC               | CORP              | ES        |        9697 | NS      | $463197.33    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Vertiv Group Corp.                                   | Vertiv Group Corp.                                                       | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |     1009000 | PA      | $981247.15    | 0.03%             | 2028-11-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Full Truck Alliance Co. Ltd.                         | Full Truck Alliance Co. Ltd.                                             | CUSIP: 35969L108<br>LEI: 984500884LB1DP8DAC57 | Long             | EC               | CORP              | KY        |       31054 | NS      | $358673.70    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Lasertec Corp.                                       | Lasertec Corp.                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |         700 | NS      | $70524.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Legal & General Group plc                            | Legal & General Group plc                                                | CUSIP: N/A<br>LEI: 213800JH9QQWHLO99821       | Long             | EC               | CORP              | GB        |       52202 | NS      | $176602.81    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Svenska Cellulosa AB SCA                             | Svenska Cellulosa AB SCA, Class B                                        | CUSIP: N/A<br>LEI: 549300FW5JDRV1IJ0M67       | Long             | EC               | CORP              | SE        |        5400 | NS      | $67722.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Middleby Corp. (The)                                 | Middleby Corp. (The)                                                     | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |        3432 | NS      | $498326.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaspi.KZ JSC                                         | Kaspi.KZ JSC                                                             | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |        4831 | NS      | $381165.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Trust Group, Inc.                    | Sumitomo Mitsui Trust Group, Inc.                                        | CUSIP: N/A<br>LEI: 353800P843RLCDBLNT17       | Long             | EC               | CORP              | JP        |        5700 | NS      | $149424.16    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain SA                               | Cie de Saint-Gobain SA                                                   | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |        3993 | NS      | $458065.59    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Lottery Corp. Ltd. (The)                             | Lottery Corp. Ltd. (The)                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |       19786 | NS      | $68625.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesla, Inc.                                          | Tesla, Inc.                                                              | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |       33500 | NS      | $10327045.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOZO, Inc.                                           | ZOZO, Inc.                                                               | CUSIP: N/A<br>LEI: 549300GC7XPQMZA0OW13       | Long             | EC               | CORP              | JP        |        3600 | NS      | $35637.74     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Pandora A/S                                          | Pandora A/S                                                              | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |         728 | NS      | $120189.65    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kering SA                                            | Kering SA                                                                | CUSIP: N/A<br>LEI: 549300VGEJKB7SVUZR78       | Long             | EC               | CORP              | FR        |         662 | NS      | $162551.12    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Italy                                    | Buoni Poliennali del Tesoro                                              | CUSIP: N/A<br>LEI: 815600DE60799F5A9309       | Long             | DBT              | NUSS              | IT        |    10905000 | PA      | $12899433.24  | 0.46%             | 2035-02-01      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Post AG                                     | Deutsche Post AG                                                         | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |        8534 | NS      | $382372.20    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Auckland International Airport Ltd.                  | Auckland International Airport Ltd.                                      | CUSIP: N/A<br>LEI: 549300HFZIZDJWB7AK60       | Long             | EC               | CORP              | NZ        |       15007 | NS      | $66569.90     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit AeroSystems, Inc.                             | Spirit AeroSystems, Inc.                                                 | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |     1718000 | PA      | $1815304.08   | 0.06%             | 2029-11-30      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Terna - Rete Elettrica Nazionale                     | Terna - Rete Elettrica Nazionale                                         | CUSIP: N/A<br>LEI: 8156009E94ED54DE7C31       | Long             | EC               | CORP              | IT        |       12508 | NS      | $121026.85    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Regions Financial Corp.                              | Regions Financial Corp.                                                  | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |       31059 | NS      | $786724.47    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp.                                | Range Resources Corp.                                                    | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |       32278 | NS      | $1185248.16   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Life Holding AG                                | Swiss Life Holding AG (Registered)                                       | CUSIP: N/A<br>LEI: 5493000KUC3Z24U77V93       | Long             | EC               | CORP              | CH        |         255 | NS      | $264128.53    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                     | Deutsche Bank AG                                                         | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | DBT              | CORP              | DE        |      900000 | PA      | $1031742.94   | 0.04%             | 2031-02-13      | Variable      | 3.38%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | S&P 500 E-Mini Index                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         624 | NC      | $8805743.40   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Sitio Royalties Operating Partnership LP             | Sitio Royalties Operating Partnership LP                                 | CUSIP: 82983MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      719000 | PA      | $750145.64    | 0.03%             | 2028-11-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Ipsen SA                                             | Ipsen SA                                                                 | CUSIP: N/A<br>LEI: 549300M6SGDPB4Z94P11       | Long             | EC               | CORP              | FR        |         332 | NS      | $39120.30     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Shimano, Inc.                                        | Shimano, Inc.                                                            | CUSIP: N/A<br>LEI: 529900L32YT3P9DECR10       | Long             | EC               | CORP              | JP        |         700 | NS      | $76577.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chocoladefabriken Lindt & Spruengli AG               | Chocoladefabriken Lindt & Spruengli AG                                   | CUSIP: N/A<br>LEI: 529900JYJNNOKKAGK736       | Long             | EC               | CORP              | CH        |           8 | NS      | $117684.59    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dentsu Group, Inc.                                   | Dentsu Group, Inc.                                                       | CUSIP: N/A<br>LEI: 5299007PBBE83ZLJZG91       | Long             | EC               | CORP              | JP        |        1800 | NS      | $35497.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Excelerate Energy LP                                 | Excelerate Energy LP                                                     | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |      876000 | PA      | $917042.35    | 0.03%             | 2030-05-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $95404.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sun Hung Kai Properties Ltd.                         | Sun Hung Kai Properties Ltd.                                             | CUSIP: N/A<br>LEI: 529900LUMD393RD3S874       | Long             | EC               | CORP              | HK        |       13000 | NS      | $154407.16    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                             | U.S. Treasury Notes                                                      | CUSIP: 91282CJV4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    35445000 | PA      | $35423677.71  | 1.25%             | 2026-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Temenos AG                                           | Temenos AG (Registered)                                                  | CUSIP: N/A<br>LEI: 5067007NW6550481FH64       | Long             | EC               | CORP              | CH        |         496 | NS      | $44364.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Sanso Holdings Corp.                          | Nippon Sanso Holdings Corp.                                              | CUSIP: N/A<br>LEI: 353800F1K6653B4VPY57       | Long             | EC               | CORP              | JP        |        1500 | NS      | $53090.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United Kingdom of Great Britain and Northern Ireland | United Kingdom of Great Britain and Northern Ireland                     | CUSIP: N/A<br>LEI: ECTRVYYCEF89VWYS6K36       | Long             | DBT              | NUSS              | GB        |    15585000 | PA      | $17571669.84  | 0.62%             | 2054-07-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Bank of the Philippine Islands                       | Bank of the Philippine Islands                                           | CUSIP: N/A<br>LEI: 549300UW4UH6XT2X8C50       | Long             | EC               | CORP              | PH        |      148700 | NS      | $301312.99    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Peru                                     | Republic of Peru                                                         | CUSIP: 715638DP4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |      487000 | PA      | $390388.94    | 0.01%             | 2032-12-01      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| Alimentation Couche-Tard, Inc.                       | Alimentation Couche-Tard, Inc.                                           | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |       31755 | NS      | $1650086.61   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Honda Motor Co. Ltd.                                 | Honda Motor Co. Ltd.                                                     | CUSIP: N/A<br>LEI: 549300P7ZYCQJ36CCS16       | Long             | EC               | CORP              | JP        |       37500 | NS      | $388233.94    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Estate Co. Ltd.                           | Mitsubishi Estate Co. Ltd.                                               | CUSIP: N/A<br>LEI: 353800KOFMRGOXSJ5Z65       | Long             | EC               | CORP              | JP        |        9500 | NS      | $177863.04    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CAR Group Ltd.                                       | CAR Group Ltd.                                                           | CUSIP: N/A<br>LEI: 5299009TFWZGH2AN7D11       | Long             | EC               | CORP              | AU        |        3358 | NS      | $81732.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dai Nippon Printing Co. Ltd.                         | Dai Nippon Printing Co. Ltd.                                             | CUSIP: N/A<br>LEI: 529900S7NFNQ4FT6OP83       | Long             | EC               | CORP              | JP        |        3500 | NS      | $53898.16     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ageas SA                                             | Ageas SA                                                                 | CUSIP: N/A<br>LEI: 5493005DJBML6LY3RV36       | Long             | EC               | CORP              | BE        |        1322 | NS      | $89885.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lotus Bakeries NV                                    | Lotus Bakeries NV                                                        | CUSIP: N/A<br>LEI: 5493004C0K34IFI67I03       | Long             | EC               | CORP              | BE        |           4 | NS      | $33817.67     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Reworld Holding Corp.                                | Reworld Holding Corp.                                                    | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |     1739000 | PA      | $1660766.56   | 0.06%             | 2029-12-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                  | Medline Borrower LP                                                      | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |     3316000 | PA      | $3162386.63   | 0.11%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Orion OYJ                                            | Orion OYJ, Class B                                                       | CUSIP: N/A<br>LEI: 74370029VAHCXDR7B745       | Long             | EC               | CORP              | FI        |         963 | NS      | $77096.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                             | SBA Communications Corp.                                                 | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |      422000 | PA      | $414709.74    | 0.01%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Delek Logistics Partners LP                          | Delek Logistics Partners LP                                              | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      729000 | PA      | $758676.86    | 0.03%             | 2029-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                             | Republic of South Africa                                                 | CUSIP: 836205BA1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      900000 | PA      | $867307.50    | 0.03%             | 2029-09-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $11235.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                          | United Parcel Service, Inc., Class B                                     | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |        7605 | NS      | $655246.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Mandiri Persero Tbk. PT                         | Bank Mandiri Persero Tbk. PT                                             | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | EC               | CORP              | ID        |     1822700 | NS      | $496195.29    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Aegon Ltd.                                           | Aegon Ltd.                                                               | CUSIP: N/A<br>LEI: O4QK7KMMK83ITNTHUG69       | Long             | EC               | CORP              | BM        |       11754 | NS      | $84000.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MS&AD Insurance Group Holdings, Inc.                 | MS&AD Insurance Group Holdings, Inc.                                     | CUSIP: N/A<br>LEI: 529900CXROT5S2HMMP26       | Long             | EC               | CORP              | JP        |       11400 | NS      | $243573.32    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Athene Global Funding                                | Athene Global Funding                                                    | CUSIP: 04685A3V1<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |       78000 | PA      | $78645.18     | 0.00%             | 2026-05-08      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Raising Cane's Restaurants LLC                       | Raising Cane's Restaurants LLC                                           | CUSIP: 75103AAA3<br>LEI: 254900V6ADXFWHYOED66 | Long             | DBT              | CORP              | US        |     1403000 | PA      | $1480327.75   | 0.05%             | 2029-05-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Thales SA                                            | Thales SA                                                                | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |         824 | NS      | $221651.03    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                         | UBS Group AG (Registered)                                                | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |      129629 | NS      | $4817535.09   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Hexagon AB                                           | Hexagon AB, Class B                                                      | CUSIP: N/A<br>LEI: 549300WJFW6ILNI4TA80       | Long             | EC               | CORP              | SE        |       18456 | NS      | $202796.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                       | Hewlett Packard Enterprise Co.                                           | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |       71950 | NS      | $1488645.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ZoomInfo Technologies LLC                            | ZoomInfo Technologies LLC                                                | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1646000 | PA      | $1547395.38   | 0.05%             | 2029-02-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                    | HSBC Holdings plc                                                        | CUSIP: 404280EN5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |      310000 | PA      | $316502.93    | 0.01%             | 2030-11-19      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | U.S. Treasury Long Bond                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |          21 | NC      | $11529.06     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial, Inc.                        | Raymond James Financial, Inc.                                            | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |        1298 | NS      | $216934.74    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Severn Trent plc                                     | Severn Trent plc                                                         | CUSIP: N/A<br>LEI: 213800RPBXRETY4A4C59       | Long             | EC               | CORP              | GB        |        2402 | NS      | $84231.76     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco do Brasil SA                                   | Banco do Brasil SA                                                       | CUSIP: N/A<br>LEI: QE0Q0253K88YAGNPE356       | Long             | EC               | CORP              | BR        |      131549 | NS      | $464687.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                                              | Eni SpA                                                                  | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               | CORP              | IT        |       19581 | NS      | $334195.82    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Vinci SA                                             | Vinci SA                                                                 | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |        4401 | NS      | $611338.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Novelis Corp.                                        | Novelis Corp.                                                            | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     1585000 | PA      | $1633256.91   | 0.06%             | 2030-01-30      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| RR Donnelley & Sons Co.                              | RR Donnelley & Sons Co.                                                  | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |     1844000 | PA      | $1884143.88   | 0.07%             | 2029-08-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Emaar Properties PJSC                                | Emaar Properties PJSC                                                    | CUSIP: N/A<br>LEI: 254900YWYEXYXK1BMP81       | Long             | EC               | CORP              | AE        |      221194 | NS      | $916031.66    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $105134.17    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Contact Energy Ltd.                                  | Contact Energy Ltd.                                                      | CUSIP: N/A<br>LEI: 549300FT5JOXS1PZ1I32       | Long             | EC               | CORP              | NZ        |        7137 | NS      | $38249.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Publicis Groupe SA                                   | Publicis Groupe SA                                                       | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |        2035 | NS      | $185961.87    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Teradyne, Inc.                                       | Teradyne, Inc.                                                           | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |        8412 | NS      | $903701.16    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp.                                         | Bruker Corp.                                                             | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |       11646 | NS      | $447555.78    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines, Inc.                              | American Airlines, Inc.                                                  | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |     3396000 | PA      | $3549244.50   | 0.13%             | 2029-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: —       |
| Molina Healthcare, Inc.                              | Molina Healthcare, Inc.                                                  | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |        1628 | NS      | $257012.36    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair LLC                                          | Wayfair LLC                                                              | CUSIP: 94419NAA5<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |     1687000 | PA      | $1716497.21   | 0.06%             | 2029-10-31      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE                  | LVMH Moet Hennessy Louis Vuitton SE                                      | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |       16271 | NS      | $8734469.16   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Panasonic Holdings Corp.                             | Panasonic Holdings Corp.                                                 | CUSIP: N/A<br>LEI: 254900GE1G59KGWPHX32       | Long             | EC               | CORP              | JP        |       20700 | NS      | $195807.93    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Teleperformance SE                                   | Teleperformance SE                                                       | CUSIP: N/A<br>LEI: 9695004GI61FHFFNRG61       | Long             | EC               | CORP              | FR        |         479 | NS      | $46698.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX plc                                             | RELX plc                                                                 | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |       16422 | NS      | $853304.99    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $40882.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NU Holdings Ltd.                                     | NU Holdings Ltd., Class A                                                | CUSIP: N/A<br>LEI: 5493002DG1RHWK9W2X27       | Long             | EC               | CORP              | KY        |       41238 | NS      | $503928.36    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential plc                                       | Prudential plc                                                           | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |       23195 | NS      | $294256.10    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui OSK Lines Ltd.                                | Mitsui OSK Lines Ltd.                                                    | CUSIP: N/A<br>LEI: 353800P8O843TMAZ6S09       | Long             | EC               | CORP              | JP        |        3100 | NS      | $104198.19    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                 | Clear Channel Outdoor Holdings, Inc.                                     | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |      454000 | PA      | $467532.38    | 0.02%             | 2030-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Belgium                                   | Kingdom of Belgium                                                       | CUSIP: N/A<br>LEI: 549300SZ25JZFHRHWD76       | Long             | DBT              | NUSS              | BE        |      473000 | PA      | $438026.26    | 0.02%             | 2037-06-22      | Fixed         | 1.45%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-672.17      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Belgium                                   | Kingdom of Belgium                                                       | CUSIP: N/A<br>LEI: 549300SZ25JZFHRHWD76       | Long             | DBT              | NUSS              | BE        |      267000 | PA      | $203302.01    | 0.01%             | 2047-06-22      | Fixed         | 1.60%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $4191.31      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Century Communities, Inc.                            | Century Communities, Inc.                                                | CUSIP: 156504AM4<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |     1552000 | PA      | $1430701.27   | 0.05%             | 2029-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Progressive Corp. (The)                              | Progressive Corp. (The)                                                  | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |        4426 | NS      | $1071269.04   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Rakuten Group, Inc.                                  | Rakuten Group, Inc.                                                      | CUSIP: N/A<br>LEI: 529900IMXUCQKUL1H943       | Long             | EC               | CORP              | JP        |       13400 | NS      | $67800.21     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-140410.80   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Azrieli Group Ltd.                                   | Azrieli Group Ltd.                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |         377 | NS      | $37039.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                                      | ASML Holding NV (Registered)                                             | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |         774 | NS      | $537705.54    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Pro Medicus Ltd.                                     | Pro Medicus Ltd.                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |         511 | NS      | $104936.20    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore plc                                         | Glencore plc                                                             | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |       91176 | NS      | $365918.98    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Airtac International Group                           | Airtac International Group                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |       22755 | NS      | $647186.87    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CK Asset Holdings Ltd.                               | CK Asset Holdings Ltd.                                                   | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | KY        |       16888 | NS      | $77384.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Schindler Holding AG                                 | Schindler Holding AG                                                     | CUSIP: N/A<br>LEI: 5299007DRLI319H7Q933       | Long             | EC               | CORP              | CH        |         362 | NS      | $130912.21    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                   | Energy Transfer LP                                                       | CUSIP: 29273RBG3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      100000 | PA      | $99994.48     | 0.00%             | 2026-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-6892.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV                                   | Koninklijke KPN NV                                                       | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |       34571 | NS      | $154446.06    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Grifols SA                                           | Grifols SA                                                               | CUSIP: N/A<br>LEI: 959800HSSNXWRKBK4N60       | Long             | EC               | CORP              | ES        |        2652 | NS      | $39515.17     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayer AG                                             | Bayer AG (Registered)                                                    | CUSIP: N/A<br>LEI: 549300J4U55H3WP1XT59       | Long             | EC               | CORP              | DE        |        8733 | NS      | $271611.65    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Croda International plc                              | Croda International plc                                                  | CUSIP: N/A<br>LEI: 2138004WCNBFJEEOXV26       | Long             | EC               | CORP              | GB        |        1179 | NS      | $40578.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                               | Home Depot, Inc. (The)                                                   | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |        4179 | NS      | $1535824.29   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Lifco AB                                             | Lifco AB, Class B                                                        | CUSIP: N/A<br>LEI: 549300RTLL4VDQRCTW41       | Long             | EC               | CORP              | SE        |        2072 | NS      | $73806.89     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Akbank TAS                                           | Akbank TAS                                                               | CUSIP: N/A<br>LEI: 789000TUMN63Z28TJ497       | Long             | EC               | CORP              | TR        |      267148 | NS      | $442920.17    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                         | Oracle Corp.                                                             | CUSIP: N/A<br>LEI: 529900MIMKY9RU60Z323       | Long             | EC               | CORP              | JP        |         300 | NS      | $32443.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| QBE Insurance Group Ltd.                             | QBE Insurance Group Ltd.                                                 | CUSIP: N/A<br>LEI: 549300D2FBW76FPUSG65       | Long             | EC               | CORP              | AU        |       13423 | NS      | $199119.76    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-122407.64   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Airbus SE                                            | Airbus SE                                                                | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | NL        |       12175 | NS      | $2447846.51   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-15331.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Daiichi Sankyo Co. Ltd.                              | Daiichi Sankyo Co. Ltd.                                                  | CUSIP: N/A<br>LEI: 353800XGIU2IHQGC9504       | Long             | EC               | CORP              | JP        |       15300 | NS      | $375338.53    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AXA SA                                               | AXA SA                                                                   | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |       15751 | NS      | $765013.55    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| TSB Bank plc                                         | TSB Bank plc                                                             | CUSIP: N/A<br>LEI: 549300XP222MV7P3CC54       | Long             | DBT              | CORP              | GB        |     1300000 | PA      | $1481830.63   | 0.05%             | 2030-02-18      | Fixed         | 2.70%                 | Yes           |                  2 | On Loan: No      |
| Comerica, Inc.                                       | Comerica, Inc.                                                           | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |       10661 | NS      | $720363.77    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| IAC, Inc.                                            | IAC, Inc.                                                                | CUSIP: 44891N208<br>LEI: 549300TO56L57RP6P031 | Long             | EC               | CORP              | US        |        7713 | NS      | $303120.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd.                                         | Infosys Ltd.                                                             | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |       66592 | NS      | $1113418.24   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| VAT Group AG                                         | VAT Group AG                                                             | CUSIP: N/A<br>LEI: 529900MVFK7NVALR7Y83       | Long             | EC               | CORP              | CH        |         240 | NS      | $84045.32     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Powszechny Zaklad Ubezpieczen SA                     | Powszechny Zaklad Ubezpieczen SA                                         | CUSIP: N/A<br>LEI: QLPCKOOKVX32FUELX240       | Long             | EC               | CORP              | PL        |       33899 | NS      | $568180.66    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| HKT Trust & HKT Ltd.                                 | HKT Trust & HKT Ltd.                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |       34000 | NS      | $53535.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Helvetia Holding AG                                  | Helvetia Holding AG (Registered)                                         | CUSIP: N/A<br>LEI: 529900SUJBXTORH0LT80       | Long             | EC               | CORP              | CH        |         330 | NS      | $79358.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Schneider Electric SE                                | Schneider Electric SE                                                    | CUSIP: N/A<br>LEI: 969500A1YF1XUYYXS284       | Long             | EC               | CORP              | FR        |        4861 | NS      | $1257994.81   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Hungary                                              | Hungary Government Bond                                                  | CUSIP: 445545AM8<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |     1158000 | PA      | $966856.24    | 0.03%             | 2031-09-22      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Foreign Exchange JPY/USD                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         373 | NC      | $-1404121.20  | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| OMV AG                                               | OMV AG                                                                   | CUSIP: N/A<br>LEI: 549300V62YJ9HTLRI486       | Long             | EC               | CORP              | AT        |        1309 | NS      | $66665.29     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Midstream Partners LP                         | Antero Midstream Partners LP                                             | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      106000 | PA      | $106044.67    | 0.00%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| M&G plc                                              | M&G plc                                                                  | CUSIP: N/A<br>LEI: 254900TWUJUQ44TQJY84       | Long             | EC               | CORP              | GB        |       20306 | NS      | $69891.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd.                                  | Tokyo Electron Ltd.                                                      | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |        4000 | NS      | $635915.38    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Telstra Group Ltd.                                   | Telstra Group Ltd.                                                       | CUSIP: N/A<br>LEI: 894500WRW54CVN62K416       | Long             | EC               | CORP              | AU        |      587387 | NS      | $1872050.01   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Leumi Le-Israel BM                              | Bank Leumi Le-Israel BM                                                  | CUSIP: N/A<br>LEI: 7JDSZWRGUQY2DSTWCR57       | Long             | EC               | CORP              | IL        |       13333 | NS      | $246644.25    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                 | Charter Communications Operating LLC                                     | CUSIP: 161175CP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       50000 | PA      | $53002.47     | 0.00%             | 2034-02-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                | OneMain Finance Corp.                                                    | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |      609000 | PA      | $621964.10    | 0.02%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Trane Technologies plc                               | Trane Technologies plc                                                   | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |       22104 | NS      | $9683320.32   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Max Financial Services Ltd.                          | Max Financial Services Ltd.                                              | CUSIP: N/A<br>LEI: 335800Y9FX8XGFB64S40       | Long             | EC               | CORP              | IN        |       48377 | NS      | $825943.62    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-22930.14    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of the Netherlands                           | Kingdom of Netherlands                                                   | CUSIP: N/A<br>LEI: 254900G14ALGVKORFN62       | Long             | DBT              | NUSS              | NL        |      340000 | PA      | $270232.76    | 0.01%             | 2040-01-15      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                  | Hilton Domestic Operating Co., Inc.                                      | CUSIP: 432833AH4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |      951000 | PA      | $950669.53    | 0.03%             | 2028-05-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-6333.95     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                            | Williams Cos., Inc. (The)                                                | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |       27808 | NS      | $1667089.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                                       | Rheinmetall AG                                                           | CUSIP: N/A<br>LEI: 5299001OU9CSE29O6S05       | Long             | EC               | CORP              | DE        |         397 | NS      | $785860.85    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Affinity Interactive                                 | Affinity Interactive                                                     | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1837000 | PA      | $1012223.74   | 0.04%             | 2027-12-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Denmark                                   | Kingdom of Denmark                                                       | CUSIP: N/A<br>LEI: 549300PTO6LS1PTM6607       | Long             | DBT              | NUSS              | DK        |     2373000 | PA      | $362750.21    | 0.01%             | 2025-11-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Haidilao International Holding Ltd.                  | Haidilao International Holding Ltd.                                      | CUSIP: N/A<br>LEI: 3003009Q8GV4VNKZWI24       | Long             | EC               | CORP              | KY        |      198000 | NS      | $350994.17    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Scout24 SE                                           | Scout24 SE                                                               | CUSIP: N/A<br>LEI: 5493007EIKM2ENQS7U66       | Long             | EC               | CORP              | DE        |         667 | NS      | $89139.03     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Victoria's Secret & Co.                              | Victoria's Secret & Co.                                                  | CUSIP: 926400AA0<br>LEI: 5493006T3O70U3UWVF17 | Long             | DBT              | CORP              | US        |     1606000 | PA      | $1494561.27   | 0.05%             | 2029-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| Getlink SE                                           | Getlink SE                                                               | CUSIP: N/A<br>LEI: 9695007ZEQ7M0OE74G82       | Long             | EC               | CORP              | FR        |        2689 | NS      | $48767.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Meridian Energy Ltd.                                 | Meridian Energy Ltd.                                                     | CUSIP: N/A<br>LEI: 254900IFKXIGNCY3A092       | Long             | EC               | CORP              | NZ        |       11625 | NS      | $39035.24     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)             | PNC Financial Services Group, Inc. (The)                                 | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |        3063 | NS      | $582797.01    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Incora Intermediate II LLC                           | Incora Intermediate II LLC                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         427 | NS      | $8535.73      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Hermes International SCA                             | Hermes International SCA                                                 | CUSIP: N/A<br>LEI: 969500Y4IJGHJE2MTJ13       | Long             | EC               | CORP              | FR        |         282 | NS      | $689628.18    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Weyerhaeuser Co.                                     | Weyerhaeuser Co.                                                         | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |       12406 | NS      | $310770.30    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash, Inc.                                      | FirstCash, Inc.                                                          | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |     1911000 | PA      | $1868384.60   | 0.07%             | 2028-09-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Jazz Securities DAC                                  | Jazz Securities DAC                                                      | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |     2277000 | PA      | $2202716.06   | 0.08%             | 2029-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                      | Telefonaktiebolaget LM Ericsson, Class B                                 | CUSIP: N/A<br>LEI: 549300W9JLPW15XIFM52       | Long             | EC               | CORP              | SE        |       24694 | NS      | $179367.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Claire's Stores, Inc.                                | Claire's Stores, Inc.                                                    | CUSIP: N/A<br>LEI: 549300N5HNYXI6JY7625       | Long             | EC               | CORP              | US        |         326 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Resona Holdings, Inc.                                | Resona Holdings, Inc.                                                    | CUSIP: N/A<br>LEI: 52990067JE75XZCYYT81       | Long             | EC               | CORP              | JP        |       18500 | NS      | $168424.11    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Alstom SA                                            | Alstom SA                                                                | CUSIP: N/A<br>LEI: 96950032TUYMW11FB530       | Long             | EC               | CORP              | FR        |        3077 | NS      | $72175.17     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk. PT                            | Bank Central Asia Tbk. PT                                                | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |     5263700 | NS      | $2638143.30   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Amundi SA                                            | Amundi SA                                                                | CUSIP: N/A<br>LEI: 96950010FL2T1TJKR531       | Long             | EC               | CORP              | FR        |         542 | NS      | $40054.08     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fuyao Glass Industry Group Co. Ltd.                  | Fuyao Glass Industry Group Co. Ltd., Class H                             | CUSIP: N/A<br>LEI: 549300AS5CSLWETN0P64       | Long             | EC               | CORP              | CN        |       90800 | NS      | $654629.14    | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Hitachi Ltd.                                         | Hitachi Ltd.                                                             | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |       40700 | NS      | $1245446.57   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| KT Corp.                                             | KT Corp.                                                                 | CUSIP: N/A<br>LEI: 9884005ACF8449EANY26       | Long             | EC               | CORP              | KR        |       11699 | NS      | $464215.24    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA                                   | Banco Santander SA                                                       | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |      134700 | NS      | $1157179.64   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| UWM Holdings LLC                                     | UWM Holdings LLC                                                         | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1667000 | PA      | $1667732.85   | 0.06%             | 2030-02-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Travelers Cos., Inc. (The)                           | Travelers Cos., Inc. (The)                                               | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |        3711 | NS      | $965750.64    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                             | Enel SpA                                                                 | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |       72302 | NS      | $637580.24    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Coforge Ltd.                                         | Coforge Ltd.                                                             | CUSIP: N/A<br>LEI: 3358004YL9JGBNP4KF72       | Long             | EC               | CORP              | IN        |       20360 | NS      | $403430.68    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Genpact Ltd.                                         | Genpact Ltd.                                                             | CUSIP: N/A<br>LEI: 529900OSEC6Q0L4L5B35       | Long             | EC               | CORP              | BM        |       13084 | NS      | $576350.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi HC Capital, Inc.                          | Mitsubishi HC Capital, Inc.                                              | CUSIP: N/A<br>LEI: 353800MZ3QX9RLMH7B09       | Long             | EC               | CORP              | JP        |        7800 | NS      | $57654.73     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eisai Co. Ltd.                                       | Eisai Co. Ltd.                                                           | CUSIP: N/A<br>LEI: 353800HDEE0ZYEX4QV91       | Long             | EC               | CORP              | JP        |        2300 | NS      | $64504.37     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PetSmart, Inc.                                       | PetSmart, Inc.                                                           | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2022000 | PA      | $1978694.02   | 0.07%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Eiffage SA                                           | Eiffage SA                                                               | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |         610 | NS      | $81883.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                | Westpac Banking Corp.                                                    | CUSIP: N/A<br>LEI: EN5TNI6CI43VEPAMHL14       | Long             | EC               | CORP              | AU        |       30431 | NS      | $657009.52    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Realtek Semiconductor Corp.                          | Realtek Semiconductor Corp.                                              | CUSIP: N/A<br>LEI: 5299002E7F36O00MYY75       | Long             | EC               | CORP              | TW        |       51000 | NS      | $975164.55    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Chipotle Mexican Grill, Inc.                         | Chipotle Mexican Grill, Inc., Class A                                    | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      104190 | NS      | $4467667.20   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GFL Environmental, Inc.                              | GFL Environmental, Inc.                                                  | CUSIP: 36168QAP9<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |     1569000 | PA      | $1518940.11   | 0.05%             | 2029-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Novo Nordisk A/S                                     | Novo Nordisk A/S, Class B                                                | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |      117242 | NS      | $5452691.48   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide SA                                       | Air Liquide SA                                                           | CUSIP: N/A<br>LEI: 969500MMPQVHK671GT54       | Long             | EC               | CORP              | FR        |       23118 | NS      | $4548156.09   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Post Insurance Co. Ltd.                        | Japan Post Insurance Co. Ltd.                                            | CUSIP: N/A<br>LEI: 54930042SK2Z708BA841       | Long             | EC               | CORP              | JP        |        1700 | NS      | $43527.84     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Regency Centers Corp.                                | Regency Centers Corp.                                                    | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |        8542 | NS      | $609898.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp.                                | Range Resources Corp.                                                    | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |     1850000 | PA      | $1896862.35   | 0.07%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Carvana Co.                                          | Carvana Co.                                                              | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |        2929 | NS      | $1142807.93   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC Holdings LLC                                     | CSC Holdings LLC                                                         | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |      946000 | PA      | $950924.88    | 0.03%             | 2028-05-15      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| United Mexican States                                | Mex Bonos Desarr Fix Rt                                                  | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |   251000000 | PA      | $12636416.38  | 0.45%             | 2031-05-29      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Imperial Brands plc                                  | Imperial Brands plc                                                      | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |        6954 | NS      | $271062.66    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                      | Moran Foods LLC, 1st Lien PIK Term Loan                                  | CUSIP: 61647DAT9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      924819 | PA      | $671510.96    | 0.02%             | 2026-06-30      | Variable      | 11.65%                | No            |                  3 | On Loan: No      |
| ITC Ltd.                                             | ITC Ltd.                                                                 | CUSIP: N/A<br>LEI: 335800WLOU3OFWFTMP43       | Long             | EC               | CORP              | IN        |       95952 | NS      | $449985.70    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NIDEC Corp.                                          | NIDEC Corp.                                                              | CUSIP: N/A<br>LEI: 353800IF171MZTNL6Y31       | Long             | EC               | CORP              | JP        |        7400 | NS      | $141978.51    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Baloise Holding AG                                   | Baloise Holding AG (Registered)                                          | CUSIP: N/A<br>LEI: 529900G5XKBZN48T6283       | Long             | EC               | CORP              | CH        |         366 | NS      | $87717.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                  | Intesa Sanpaolo SpA                                                      | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | DBT              | CORP              | IT        |     1900000 | PA      | $2401603.00   | 0.08%             | 2031-08-29      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander Brasil SA                            | Banco Santander Brasil SA                                                | CUSIP: N/A<br>LEI: 549300D1H731B30TSI43       | Long             | EC               | CORP              | BR        |      138030 | NS      | $648793.14    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Assets Holdings Ltd.                           | Power Assets Holdings Ltd.                                               | CUSIP: N/A<br>LEI: 254900JOWYUW1ZX4DF47       | Long             | EC               | CORP              | HK        |       12500 | NS      | $82301.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                           | Avis Budget Car Rental LLC                                               | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      551000 | PA      | $566998.29    | 0.02%             | 2030-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Banco de Sabadell SA                                 | Banco de Sabadell SA                                                     | CUSIP: N/A<br>LEI: SI5RG2M0WQQLZCXKRM20       | Long             | EC               | CORP              | ES        |       47829 | NS      | $176532.31    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Gjensidige Forsikring ASA                            | Gjensidige Forsikring ASA                                                | CUSIP: N/A<br>LEI: 5967007LIEEXZX6FAO47       | Long             | EC               | CORP              | NO        |        1778 | NS      | $46767.87     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiwa Securities Group, Inc.                         | Daiwa Securities Group, Inc.                                             | CUSIP: N/A<br>LEI: 353800WRC7Y23PWFJG38       | Long             | EC               | CORP              | JP        |       11900 | NS      | $82846.09     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Performance Food Group Co.                           | Performance Food Group Co.                                               | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |       16739 | NS      | $1680595.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Aristocrat Leisure Ltd.                              | Aristocrat Leisure Ltd.                                                  | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27       | Long             | EC               | CORP              | AU        |        5004 | NS      | $224063.66    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Wolters Kluwer NV                                    | Wolters Kluwer NV                                                        | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               | CORP              | NL        |        2120 | NS      | $330209.08    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| General Dynamics Corp.                               | General Dynamics Corp.                                                   | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |        1924 | NS      | $599537.64    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Imola Merger Corp.                                   | Imola Merger Corp.                                                       | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2679000 | PA      | $2599245.10   | 0.09%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Shionogi & Co. Ltd.                                  | Shionogi & Co. Ltd.                                                      | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35       | Long             | EC               | CORP              | JP        |        6700 | NS      | $112052.94    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mediobanca Banca di Credito Finanziario SpA          | Mediobanca Banca di Credito Finanziario SpA                              | CUSIP: N/A<br>LEI: PSNL19R2RXX5U3QWHI44       | Long             | EC               | CORP              | IT        |        4445 | NS      | $97862.76     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GEA Group AG                                         | GEA Group AG                                                             | CUSIP: N/A<br>LEI: 549300PHUU0ZZWO8EO07       | Long             | EC               | CORP              | DE        |        1302 | NS      | $93523.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Recordati Industria Chimica e Farmaceutica SpA       | Recordati Industria Chimica e Farmaceutica SpA                           | CUSIP: N/A<br>LEI: 815600FBF92FD3531704       | Long             | EC               | CORP              | IT        |        1022 | NS      | $58615.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wal-Mart de Mexico SAB de CV                         | Wal-Mart de Mexico SAB de CV                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |      265215 | NS      | $781656.72    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Duquesne Light Holdings, Inc.                        | Duquesne Light Holdings, Inc.                                            | CUSIP: 266233AG0<br>LEI: 4CUJ1D8WDXK9X7QI6B93 | Long             | DBT              | CORP              | US        |     2400000 | PA      | $2321984.95   | 0.08%             | 2027-08-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-18966.12    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GEO Group, Inc. (The)                                | GEO Group, Inc. (The)                                                    | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |     1516000 | PA      | $1609574.80   | 0.06%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Deere & Co.                                          | Deere & Co.                                                              | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |        2804 | NS      | $1470333.48   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Valaris Ltd.                                         | Valaris Ltd.                                                             | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |      700000 | PA      | $723023.18    | 0.03%             | 2030-04-30      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Suzano SA                                            | Suzano SA                                                                | CUSIP: N/A<br>LEI: 391200AW174YQSDMGG41       | Long             | EC               | CORP              | BR        |       39357 | NS      | $365768.37    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Temasek Financial I Ltd.                             | Temasek Financial I Ltd.                                                 | CUSIP: 87973PBA1<br>LEI: 549300XMGMDF3VRJMF12 | Long             | DBT              | CORP              | SG        |     2593000 | PA      | $2252020.50   | 0.08%             | 2031-08-02      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Walgreens Boots Alliance, Inc.                       | Walgreens Boots Alliance, Inc.                                           | CUSIP: 931427AW8<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |      954000 | PA      | $1024050.31   | 0.04%             | 2029-08-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-7415.42     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NFE Financing LLC                                    | NFE Financing LLC                                                        | CUSIP: 62909BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1507000 | PA      | $533884.89    | 0.02%             | 2029-11-15      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Toho Co. Ltd.                                        | Toho Co. Ltd.                                                            | CUSIP: N/A<br>LEI: 529900IYHHYWU4O3H185       | Long             | EC               | CORP              | JP        |        1000 | NS      | $63093.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Alfa Laval AB                                        | Alfa Laval AB                                                            | CUSIP: N/A<br>LEI: 549300UCKT2UK88AG251       | Long             | EC               | CORP              | SE        |        2572 | NS      | $111747.32    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BPCE SA                                              | BPCE SA                                                                  | CUSIP: 05571BY64<br>LEI: 9695005MSX1OYEMGDF46 | Long             | STIV             | CORP              | FR        |      250000 | PA      | $246993.75    | 0.01%             | 2025-11-06      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Eurofins Scientific SE                               | Eurofins Scientific SE                                                   | CUSIP: N/A<br>LEI: 529900JEHFM47DYY3S57       | Long             | EC               | CORP              | LU        |        1053 | NS      | $80642.37     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Shiseido Co. Ltd.                                    | Shiseido Co. Ltd.                                                        | CUSIP: N/A<br>LEI: 5299008QCD0YDT5OF506       | Long             | EC               | CORP              | JP        |        3600 | NS      | $58519.91     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrellgas LP                                        | Ferrellgas LP                                                            | CUSIP: 315289AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1799000 | PA      | $1661086.91   | 0.06%             | 2029-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Income Fund                                 | JPMorgan Income Fund, Class R6                                           | CUSIP: 46637K216<br>LEI: 549300J9G10ZQTTAFU03 | Long             |  | RF                | US        |    13053718 | NS      | $111870364.53 | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesco plc                                            | Tesco plc                                                                | CUSIP: N/A<br>LEI: 2138002P5RNKC5W2JZ46       | Long             | EC               | CORP              | GB        |       59813 | NS      | $336054.65    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $169131.75    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FANUC Corp.                                          | FANUC Corp.                                                              | CUSIP: N/A<br>LEI: 529900QTSW745LOKW705       | Long             | EC               | CORP              | JP        |        8400 | NS      | $233830.48    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                                         | Iberdrola SA                                                             | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |      140996 | NS      | $2478193.67   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                          | Cie Financiere Richemont SA (Registered)                                 | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |        4779 | NS      | $780297.57    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Uniti Group LP                                       | Uniti Group LP                                                           | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2738000 | PA      | $2893734.70   | 0.10%             | 2028-02-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Randstad NV                                          | Randstad NV                                                              | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |         954 | NS      | $45343.14     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kerry Group plc                                      | Kerry Group plc, Class A                                                 | CUSIP: N/A<br>LEI: 635400TLVVBNXLFHWC59       | Long             | EC               | CORP              | IE        |         145 | NS      | $13733.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| China Merchants Bank Co. Ltd.                        | China Merchants Bank Co. Ltd., Class A                                   | CUSIP: N/A<br>LEI: 549300MKO5B60FFIHF58       | Long             | EC               | CORP              | CN        |      194600 | NS      | $1198863.80   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| AddTech AB                                           | AddTech AB, Class B                                                      | CUSIP: N/A<br>LEI: 549300QZ5U2IDRHPWL60       | Long             | EC               | CORP              | SE        |        2311 | NS      | $77691.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                  | Sirius XM Radio LLC                                                      | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     3471000 | PA      | $3303654.41   | 0.12%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Kyocera Corp.                                        | Kyocera Corp.                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       11400 | NS      | $134569.86    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-12248.28    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Knorr-Bremse AG                                      | Knorr-Bremse AG                                                          | CUSIP: N/A<br>LEI: 5299001GRRO0Z25YZT52       | Long             | EC               | CORP              | DE        |         645 | NS      | $64374.58     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Industrivarden AB                                    | Industrivarden AB, Class C                                               | CUSIP: N/A<br>LEI: 549300TM1DLIQI3B3T37       | Long             | EC               | CORP              | SE        |        1376 | NS      | $50815.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ADNOC Drilling Co. PJSC                              | ADNOC Drilling Co. PJSC                                                  | CUSIP: N/A<br>LEI: 254900JPRSQL1PM0JV19       | Long             | EC               | CORP              | AE        |      258459 | NS      | $410939.29    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $60131.22     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                               | Freeport-McMoRan, Inc.                                                   | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |       22211 | NS      | $893770.64    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Davide Campari-Milano NV                             | Davide Campari-Milano NV                                                 | CUSIP: N/A<br>LEI: 213800ED5AN2J56N6Z02       | Long             | EC               | CORP              | NL        |        5413 | NS      | $37283.85     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Natera, Inc.                                         | Natera, Inc.                                                             | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       12706 | NS      | $1698283.96   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners plc                   | Coca-Cola Europacific Partners plc                                       | CUSIP: N/A<br>LEI: 549300LTH67W4GWMRF57       | Long             | EC               | CORP              | GB        |        2048 | NS      | $198492.16    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto-Dominion Bank (The)                          | Toronto-Dominion Bank (The)                                              | CUSIP: 89114TZD7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |      150000 | PA      | $145978.65    | 0.01%             | 2026-06-03      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                   | Southern Co. (The)                                                       | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      156955 | NS      | $14829108.40  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp.                               | Tenet Healthcare Corp.                                                   | CUSIP: 88033GDR8<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     2368000 | PA      | $2276690.87   | 0.08%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                | Directv Financing LLC                                                    | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2625000 | PA      | $2555936.25   | 0.09%             | 2030-02-01      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Commerzbank AG                                       | Commerzbank AG                                                           | CUSIP: N/A<br>LEI: 851WYGNLUQLFZBSYGB56       | Long             | EC               | CORP              | DE        |        7898 | NS      | $288007.41    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Time Warner Cable LLC                                | Time Warner Cable LLC                                                    | CUSIP: 88732JBB3<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |     2650000 | PA      | $2380568.27   | 0.08%             | 2041-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Snam SpA                                             | Snam SpA                                                                 | CUSIP: N/A<br>LEI: 8156002278562044AF79       | Long             | EC               | CORP              | IT        |       17926 | NS      | $103886.00    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-785.60      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| 3i Group plc                                         | 3i Group plc                                                             | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |       62065 | NS      | $3391366.24   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Moncler SpA                                          | Moncler SpA                                                              | CUSIP: N/A<br>LEI: 815600EBD7FB00525B20       | Long             | EC               | CORP              | IT        |        2076 | NS      | $110718.53    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | MSCI Emerging Markets Index                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         876 | NC      | $1732754.28   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingdom of Denmark                                   | Kingdom of Denmark                                                       | CUSIP: N/A<br>LEI: 549300PTO6LS1PTM6607       | Long             | DBT              | NUSS              | DK        |     2400000 | PA      | $189943.61    | 0.01%             | 2052-11-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Fast Retailing Co. Ltd.                              | Fast Retailing Co. Ltd.                                                  | CUSIP: N/A<br>LEI: 353800ZCXKHDPY0N5218       | Long             | EC               | CORP              | JP        |        1700 | NS      | $518550.54    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BP plc                                               | BP plc                                                                   | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |      142387 | NS      | $763234.67    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ontario Teachers' Finance Trust                      | Ontario Teachers' Finance Trust                                          | CUSIP: N/A<br>LEI: 635400ZZE5J8OXXBBY26       | Long             | DBT              | NUSS              | CA        |     2955000 | PA      | $3164978.62   | 0.11%             | 2028-05-19      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| Associated British Foods plc                         | Associated British Foods plc                                             | CUSIP: N/A<br>LEI: GBQKSY6W7G0OHCQ8OQ72       | Long             | EC               | CORP              | GB        |        2894 | NS      | $83797.22     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Income ETF                                  | JPMorgan Income ETF                                                      | CUSIP: 46641Q159<br>LEI: 549300CYQ8KHPO2GR356 | Long             |  | RF                | US        |     2095298 | NS      | $96802767.60  | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Orkla ASA                                            | Orkla ASA                                                                | CUSIP: N/A<br>LEI: 549300PZS8G8RG6RVZ52       | Long             | EC               | CORP              | NO        |        6232 | NS      | $65535.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Telecommunications Ltd.                    | Singapore Telecommunications Ltd.                                        | CUSIP: N/A<br>LEI: 2549003XJKIQO8YDYD89       | Long             | EC               | CORP              | SG        |       66100 | NS      | $196987.75    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Euro-Bund                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         349 | NC      | $-258651.75   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Progress Residential Trust                           | Progress Residential Trust, Series 2025-SFR3, Class A                    | CUSIP: 74334BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1295000 | PA      | $1211166.62   | 0.04%             | 2042-07-17      | Fixed         | 3.39%                 | Yes           |                  2 | On Loan: No      |
| Advantage Sales & Marketing, Inc.                    | Advantage Sales & Marketing, Inc.                                        | CUSIP: 00775PAA5<br>LEI: 549300T4O24KQDED1182 | Long             | DBT              | CORP              | US        |     1822000 | PA      | $1366500.00   | 0.05%             | 2028-11-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Zensho Holdings Co. Ltd.                             | Zensho Holdings Co. Ltd.                                                 | CUSIP: N/A<br>LEI: 353800DYF3UDM49ITT03       | Long             | EC               | CORP              | JP        |         900 | NS      | $47361.13     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Sweden                                    | Kingdom of Sweden                                                        | CUSIP: N/A<br>LEI: ERE94C0BSULG2RM19605       | Long             | DBT              | NUSS              | SE        |     2505000 | PA      | $281003.02    | 0.01%             | 2039-03-30      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Renault SA                                           | Renault SA                                                               | CUSIP: N/A<br>LEI: 969500F7JLTX36OUI695       | Long             | EC               | CORP              | FR        |        1709 | NS      | $63234.37     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                | Coinbase Global, Inc.                                                    | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |     1931000 | PA      | $1816832.71   | 0.06%             | 2028-10-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| EDP SA                                               | EDP SA                                                                   | CUSIP: N/A<br>LEI: 529900CLC3WDMGI9VH80       | Long             | EC               | CORP              | PT        |       27896 | NS      | $120576.68    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM International NV                                 | ASM International NV                                                     | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Long             | EC               | CORP              | NL        |         417 | NS      | $201852.03    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hikari Tsushin, Inc.                                 | Hikari Tsushin, Inc.                                                     | CUSIP: N/A<br>LEI: 3538001SOIIV8U3OXH94       | Long             | EC               | CORP              | JP        |         200 | NS      | $53771.76     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingspan Group plc                                   | Kingspan Group plc                                                       | CUSIP: N/A<br>LEI: 635400HM7V74SUB9OG75       | Long             | EC               | CORP              | IE        |         147 | NS      | $12212.41     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TIS, Inc.                                            | TIS, Inc.                                                                | CUSIP: N/A<br>LEI: 35380064HYEZXBQHDF07       | Long             | EC               | CORP              | JP        |        1900 | NS      | $60613.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-6004.14     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chiba Bank Ltd. (The)                                | Chiba Bank Ltd. (The)                                                    | CUSIP: N/A<br>LEI: FGJPAKKCTZVSKZXNBS63       | Long             | EC               | CORP              | JP        |        5000 | NS      | $46603.55     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ricoh Co. Ltd.                                       | Ricoh Co. Ltd.                                                           | CUSIP: N/A<br>LEI: 549300HFIB2GRUMDID72       | Long             | EC               | CORP              | JP        |        4800 | NS      | $42088.77     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Saks Global Enterprises LLC                          | Saks Global Enterprises LLC                                              | CUSIP: 79380MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3252000 | PA      | $731700.00    | 0.03%             | 2029-12-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| ExlService Holdings, Inc.                            | ExlService Holdings, Inc.                                                | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |       12714 | NS      | $552169.02    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nongfu Spring Co. Ltd.                               | Nongfu Spring Co. Ltd., Class H                                          | CUSIP: N/A<br>LEI: 300300P08GGT4SKR9G93       | Long             | EC               | CORP              | CN        |      139000 | NS      | $803092.59    | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                         | Performance Food Group, Inc.                                             | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |       61000 | PA      | $60906.19     | 0.00%             | 2027-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Sandisk Corp.                                        | Sandisk Corp.                                                            | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       16786 | NS      | $720455.12    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RELX plc                                             | RELX plc                                                                 | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |       42844 | NS      | $2224953.04   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                                           | Legrand SA                                                               | CUSIP: N/A<br>LEI: 969500XXRPGD7HCAFA90       | Long             | EC               | CORP              | FR        |       21789 | NS      | $3218384.69   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Israel Discount Bank Ltd.                            | Israel Discount Bank Ltd., Class A                                       | CUSIP: 465074201<br>LEI: 549300XWZ7BG5G23OF51 | Long             | EC               | CORP              | IL        |       10931 | NS      | $104538.98    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Telia Co. AB                                         | Telia Co. AB                                                             | CUSIP: N/A<br>LEI: 213800FSR9RNDUOTXO25       | Long             | EC               | CORP              | SE        |       20973 | NS      | $74070.57     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Vonovia SE                                           | Vonovia SE                                                               | CUSIP: N/A<br>LEI: 5299005A2ZEP6AP7KM81       | Long             | DBT              | CORP              | DE        |     2500000 | PA      | $2576068.08   | 0.09%             | 2030-07-09      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Sodexo SA                                            | Sodexo SA                                                                | CUSIP: N/A<br>LEI: 969500LCBOG12HXPYM84       | Long             | EC               | CORP              | FR        |         786 | NS      | $46746.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | U.S. Treasury Ultra Bond                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -148 | NC      | $-245707.23   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Computershare Ltd.                                   | Computershare Ltd.                                                       | CUSIP: N/A<br>LEI: 21380085HOKTMGLV9G93       | Long             | EC               | CORP              | AU        |        4677 | NS      | $125902.07    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Traton Finance Luxembourg SA                         | Traton Finance Luxembourg SA                                             | CUSIP: N/A<br>LEI: 529900BRKIE6LKIEXD84       | Long             | DBT              | CORP              | LU        |     2100000 | PA      | $2440714.47   | 0.09%             | 2030-03-27      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| TD SYNNEX Corp.                                      | TD SYNNEX Corp.                                                          | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |       15209 | NS      | $2196027.51   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Capital America                              | Hyundai Capital America                                                  | CUSIP: 44891ADF1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |       71000 | PA      | $70488.38     | 0.00%             | 2027-09-24      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Celanese US Holdings LLC                             | Celanese US Holdings LLC                                                 | CUSIP: 15089QAW4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     3068000 | PA      | $3193864.70   | 0.11%             | 2028-11-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| BioMerieux                                           | BioMerieux                                                               | CUSIP: N/A<br>LEI: 549300AK8Y0LBIQ4T071       | Long             | EC               | CORP              | FR        |         368 | NS      | $52655.04     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Columbia Sportswear Co.                              | Columbia Sportswear Co.                                                  | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |        1301 | NS      | $73597.57     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius Medical Care AG                            | Fresenius Medical Care AG                                                | CUSIP: N/A<br>LEI: 549300CP8NY40UP89Q40       | Long             | EC               | CORP              | DE        |        1956 | NS      | $99211.16     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SCSK Corp.                                           | SCSK Corp.                                                               | CUSIP: N/A<br>LEI: 529900SNGFXMSUBB7864       | Long             | EC               | CORP              | JP        |        1400 | NS      | $43560.88     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Intertek Group plc                                   | Intertek Group plc                                                       | CUSIP: N/A<br>LEI: 2138003GAT25WW1RN369       | Long             | EC               | CORP              | GB        |        1419 | NS      | $92263.41     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wesfarmers Ltd.                                      | Wesfarmers Ltd.                                                          | CUSIP: N/A<br>LEI: 5493003L32ZX9557ST85       | Long             | EC               | CORP              | AU        |       10088 | NS      | $551809.04    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sealed Air Corp.                                     | Sealed Air Corp.                                                         | CUSIP: 812127AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1653000 | PA      | $1668800.15   | 0.06%             | 2028-02-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| AutoZone, Inc.                                       | AutoZone, Inc.                                                           | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |         623 | NS      | $2347700.74   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Telecom Co. Ltd.                                  | SK Telecom Co. Ltd.                                                      | CUSIP: N/A<br>LEI: 9884003WEA1PHW006037       | Long             | EC               | CORP              | KR        |        9970 | NS      | $402703.20    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Washington H Soul Pattinson & Co. Ltd.               | Washington H Soul Pattinson & Co. Ltd.                                   | CUSIP: N/A<br>LEI: 549300G2Q3P6ZVNC1465       | Long             | EC               | CORP              | AU        |        2125 | NS      | $55207.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Japan Tobacco, Inc.                                  | Japan Tobacco, Inc.                                                      | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |       10700 | NS      | $305588.04    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                     | NRG Energy, Inc.                                                         | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |      906000 | PA      | $850525.45    | 0.03%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                      | TransDigm, Inc.                                                          | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     2745000 | PA      | $2800893.69   | 0.10%             | 2028-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Nexi SpA                                             | Nexi SpA                                                                 | CUSIP: N/A<br>LEI: 5493000P70CQRQG8SN85       | Long             | EC               | CORP              | IT        |        4326 | NS      | $24702.50     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                | Avantor Funding, Inc.                                                    | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |     1797000 | PA      | $1756734.98   | 0.06%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Otis Worldwide Corp.                                 | Otis Worldwide Corp.                                                     | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |       22603 | NS      | $1936851.07   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | XAK Technology Index                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         178 | NC      | $3381640.44   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SMC Corp.                                            | SMC Corp.                                                                | CUSIP: N/A<br>LEI: 353800O40V08DOZ70X62       | Long             | EC               | CORP              | JP        |         500 | NS      | $173986.78    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Darden Restaurants, Inc.                             | Darden Restaurants, Inc.                                                 | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |        5174 | NS      | $1043440.58   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Infratil Ltd.                                        | Infratil Ltd.                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |        8176 | NS      | $55826.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Korea 10 Year Bond                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | KR        |         150 | NC      | $47965.84     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                      | Citigroup, Inc.                                                          | CUSIP: 17327CAM5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      250000 | PA      | $245561.68    | 0.01%             | 2027-01-28      | Variable      | 1.12%                 | No            |                  2 | On Loan: No      |
| Williams Scotsman, Inc.                              | Williams Scotsman, Inc.                                                  | CUSIP: 96950GAE2<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     1616000 | PA      | $1589707.03   | 0.06%             | 2028-08-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Gecina SA                                            | Gecina SA                                                                | CUSIP: N/A<br>LEI: 9695003E4MMA10IBTR26       | Long             | EC               | CORP              | FR        |         405 | NS      | $39800.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kajima Corp.                                         | Kajima Corp.                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        3800 | NS      | $95192.51     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Uniti Group LP                                       | Uniti Group LP                                                           | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1882000 | PA      | $1823874.81   | 0.06%             | 2028-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Moran Foods LLC                                      | Moran Foods LLC, 2nd Lien PIK Term Loan                                  | CUSIP: 61647DAU6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      335321 | PA      | $75916.67     | 0.00%             | 2026-06-30      | Variable      | 11.65%                | No            |                  3 | On Loan: No      |
| Tencent Holdings Ltd.                                | Tencent Holdings Ltd.                                                    | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |      294100 | NS      | $20590599.63  | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Intact Financial Corp.                               | Intact Financial Corp.                                                   | CUSIP: 45823T106<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |        8864 | NS      | $1832166.28   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Staples, Inc.                                        | Staples, Inc.                                                            | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |     3446000 | PA      | $3231181.22   | 0.11%             | 2029-09-01      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| B&G Foods, Inc.                                      | B&G Foods, Inc.                                                          | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |     1732000 | PA      | $1619424.30   | 0.06%             | 2028-09-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Zillow Group, Inc.                                   | Zillow Group, Inc., Class C                                              | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |        5920 | NS      | $470936.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoya Corp.                                           | Hoya Corp.                                                               | CUSIP: N/A<br>LEI: 353800X4VR3BHEUCJB42       | Long             | EC               | CORP              | JP        |       24800 | NS      | $3128837.36   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Hanwha Life Insurance Co. Ltd.                       | Hanwha Life Insurance Co. Ltd.                                           | CUSIP: 41135UAC9<br>LEI: 988400ZKCI3R9DQHR320 | Long             | DBT              | CORP              | KR        |      205000 | PA      | $211150.00    | 0.01%             | 2055-06-24      | Variable      | 6.30%                 | Yes           |                  2 | On Loan: —       |
| Czech Republic                                       | Czech Republic                                                           | CUSIP: N/A<br>LEI: 3157007EFDLQABN47912       | Long             | DBT              | NUSS              | CZ        |    23440000 | PA      | $1109126.30   | 0.04%             | 2032-11-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                       | Broadcom, Inc.                                                           | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |       35273 | NS      | $10359680.10  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                                        | UniCredit SpA                                                            | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | DBT              | CORP              | IT        |     2050000 | PA      | $2437736.74   | 0.09%             | 2029-02-16      | Variable      | 4.45%                 | Yes           |                  2 | On Loan: No      |
| McKesson Corp.                                       | McKesson Corp.                                                           | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |        2732 | NS      | $1894751.28   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                                   | Energy Transfer LP                                                       | CUSIP: 29273VBC3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      450000 | PA      | $461436.75    | 0.02%             | 2054-10-01      | Variable      | 7.12%                 | No            |                  2 | On Loan: —       |
| Kyowa Kirin Co. Ltd.                                 | Kyowa Kirin Co. Ltd.                                                     | CUSIP: N/A<br>LEI: 529900TBXKVTQGYA3582       | Long             | EC               | CORP              | JP        |        2100 | NS      | $35846.21     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AG TTMT Escrow Issuer LLC                            | AG TTMT Escrow Issuer LLC                                                | CUSIP: 00840KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      999000 | PA      | $1026461.51   | 0.04%             | 2027-09-30      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| DSM-Firmenich AG                                     | DSM-Firmenich AG                                                         | CUSIP: N/A<br>LEI: 506700G44V67MPM4BI12       | Long             | EC               | CORP              | CH        |        1653 | NS      | $158819.53    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Biologics Co. Ltd.                           | Samsung Biologics Co. Ltd.                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |         532 | NS      | $406462.82    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Tencent Music Entertainment Group                    | Tencent Music Entertainment Group                                        | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | KY        |       34078 | NS      | $715297.22    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale SA                                  | Societe Generale SA                                                      | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | EC               | CORP              | FR        |        6403 | NS      | $408694.36    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Genting Singapore Ltd.                               | Genting Singapore Ltd.                                                   | CUSIP: N/A<br>LEI: 254900Y2N3AK93K1O866       | Long             | EC               | CORP              | SG        |       53200 | NS      | $30009.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Arca Continental SAB de CV                           | Arca Continental SAB de CV                                               | CUSIP: N/A<br>LEI: 254900U2BSJCQHJCXN24       | Long             | EC               | CORP              | MX        |       51982 | NS      | $541946.45    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Gas Co. Ltd.                                   | Osaka Gas Co. Ltd.                                                       | CUSIP: N/A<br>LEI: 353800024KMNOPQRWZ02       | Long             | EC               | CORP              | JP        |        3200 | NS      | $80964.30     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Electric Industries Ltd.                    | Sumitomo Electric Industries Ltd.                                        | CUSIP: N/A<br>LEI: 5493005SP87FL5TOS202       | Long             | EC               | CORP              | JP        |        6400 | NS      | $158814.08    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ABB Ltd.                                             | ABB Ltd. (Registered)                                                    | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               | CORP              | CH        |       14059 | NS      | $918026.21    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Scripps Escrow II, Inc.                              | Scripps Escrow II, Inc.                                                  | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2085000 | PA      | $1851009.96   | 0.07%             | 2029-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| London Stock Exchange Group plc                      | London Stock Exchange Group plc                                          | CUSIP: N/A<br>LEI: 213800QAUUUP6I445N30       | Long             | EC               | CORP              | GB        |       17928 | NS      | $2185335.26   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| BAE Systems plc                                      | BAE Systems plc                                                          | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               | CORP              | GB        |       26779 | NS      | $638964.12    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth of Australia                            | Commonwealth of Australia                                                | CUSIP: N/A<br>LEI: 213800J6B7JSBDETCB42       | Long             | DBT              | NUSS              | AU        |     5295000 | PA      | $3293022.37   | 0.12%             | 2054-06-21      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Danske Bank A/S                                      | Danske Bank A/S                                                          | CUSIP: N/A<br>LEI: MAES062Z21O4RZ2U7M96       | Long             | EC               | CORP              | DK        |        6132 | NS      | $243265.49    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Metro Co. Ltd.                                 | Tokyo Metro Co. Ltd.                                                     | CUSIP: N/A<br>LEI: 35380049N9IQPZ74JY58       | Long             | EC               | CORP              | JP        |        2600 | NS      | $28015.88     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kobe Bussan Co. Ltd.                                 | Kobe Bussan Co. Ltd.                                                     | CUSIP: N/A<br>LEI: 353800CJIFNHN2DXRD59       | Long             | EC               | CORP              | JP        |        1300 | NS      | $34618.13     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Star Resources Ltd.                         | Northern Star Resources Ltd.                                             | CUSIP: N/A<br>LEI: 254900XFXCRYYZAX6M78       | Long             | EC               | CORP              | AU        |       12073 | NS      | $119949.25    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Investor AB                                          | Investor AB, Class B                                                     | CUSIP: N/A<br>LEI: 549300VEBQPHRZBKUX38       | Long             | EC               | CORP              | SE        |       15386 | NS      | $445878.87    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                  | Abbott Laboratories                                                      | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |       44530 | NS      | $5619240.70   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Absa Group Ltd.                                      | Absa Group Ltd.                                                          | CUSIP: N/A<br>LEI: 2138006IPPRD4N6XLT30       | Long             | EC               | CORP              | ZA        |       69617 | NS      | $687177.79    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Kao Corp.                                            | Kao Corp.                                                                | CUSIP: N/A<br>LEI: 353800HM38HFCB8RGL63       | Long             | EC               | CORP              | JP        |       38800 | NS      | $1745863.38   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| International Paper Co.                              | International Paper Co.                                                  | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |        5953 | NS      | $278243.22    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                                 | Meta Platforms, Inc., Class A                                            | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |       55906 | NS      | $43239936.64  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Tsusho Corp.                                  | Toyota Tsusho Corp.                                                      | CUSIP: N/A<br>LEI: 549300CEE2ENIUJNXB84       | Long             | EC               | CORP              | JP        |        5700 | NS      | $130634.53    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Medtronic plc                                        | Medtronic plc                                                            | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |       25675 | NS      | $2316912.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                        | Koninklijke Ahold Delhaize NV                                            | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |        8116 | NS      | $320553.22    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | MSCI EAFE Index                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         662 | NC      | $-515978.94   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| United Wholesale Mortgage LLC                        | United Wholesale Mortgage LLC                                            | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |     1349000 | PA      | $1348723.59   | 0.05%             | 2025-11-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Saab AB                                              | Saab AB, Class B                                                         | CUSIP: N/A<br>LEI: 549300ZHO4JCQQI13M69       | Long             | EC               | CORP              | SE        |        2847 | NS      | $154859.77    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                          | Capital One Financial Corp.                                              | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |        6393 | NS      | $1374495.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Teva Pharmaceutical Industries Ltd.                  | Teva Pharmaceutical Industries Ltd.                                      | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             | EC               | CORP              | IL        |       10196 | NS      | $157528.20    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Omron Corp.                                          | Omron Corp.                                                              | CUSIP: N/A<br>LEI: 549300ZHW0TR2QZ0NY83       | Long             | EC               | CORP              | JP        |        1600 | NS      | $41239.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FUJIFILM Holdings Corp.                              | FUJIFILM Holdings Corp.                                                  | CUSIP: N/A<br>LEI: 529900UBKMFM0ST6H474       | Long             | EC               | CORP              | JP        |       10000 | NS      | $207422.30    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                       | Community Health Systems, Inc.                                           | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     3574000 | PA      | $3397158.48   | 0.12%             | 2029-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Credit Industriel et Commercial                      | Credit Industriel et Commercial                                          | CUSIP: 22536MEC8<br>LEI: N4JDFKKH2FTD8RKFXO39 | Long             | STIV             | CORP              | FR        |      186000 | PA      | $179678.70    | 0.01%             | 2026-05-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| East Japan Railway Co.                               | East Japan Railway Co.                                                   | CUSIP: N/A<br>LEI: 353800SENYJ2DSM6PS44       | Long             | EC               | CORP              | JP        |        8100 | NS      | $173616.88    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hunt Cos., Inc.                                      | Hunt Cos., Inc.                                                          | CUSIP: 445587AE8<br>LEI: 549300ODPWDNCH5TKM49 | Long             | DBT              | CORP              | US        |     1544000 | PA      | $1507189.34   | 0.05%             | 2029-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging Holding Co.                        | Graphic Packaging Holding Co.                                            | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       46615 | NS      | $1042311.40   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp.                                 | Carrier Global Corp.                                                     | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |       21383 | NS      | $1467301.46   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Star Ltd.                                       | Blue Star Ltd.                                                           | CUSIP: N/A<br>LEI: 335800CWJUVEKQ1TE879       | Long             | EC               | CORP              | IN        |       23588 | NS      | $465099.06    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Argenx SE                                            | Argenx SE                                                                | CUSIP: N/A<br>LEI: 7245009C5FZE6G9ODQ71       | Long             | EC               | CORP              | NL        |         319 | NS      | $214249.92    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                | Directv Financing LLC                                                    | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1905000 | PA      | $1894529.15   | 0.07%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Allegiant Travel Co.                                 | Allegiant Travel Co.                                                     | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |     1485000 | PA      | $1484077.82   | 0.05%             | 2027-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                  | GS Mortgage-Backed Securities Trust, Series 2025-RPL3, Class A1          | CUSIP: 362963AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      260308 | PA      | $250384.10    | 0.01%             | 2065-07-25      | Variable      | 4.10%                 | Yes           |                  2 | On Loan: No      |
| TTM Technologies, Inc.                               | TTM Technologies, Inc.                                                   | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |     1515000 | PA      | $1442001.69   | 0.05%             | 2029-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| WEX, Inc.                                            | WEX, Inc.                                                                | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |        4558 | NS      | $773401.44    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum China Holdings, Inc.                             | Yum China Holdings, Inc.                                                 | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |      159284 | NS      | $7435377.12   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot, Inc.                                        | HubSpot, Inc.                                                            | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |        2768 | NS      | $1438391.20   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hungary                                              | Hungary Government Bond                                                  | CUSIP: N/A<br>LEI: 5299003F3UFKGCCMAP43       | Long             | DBT              | NUSS              | HU        |     3081000 | PA      | $3216084.07   | 0.11%             | 2028-09-21      | Fixed         | 0.12%                 | Yes           |                  2 | On Loan: No      |
| Alstom SA                                            | Alstom SA                                                                | CUSIP: N/A<br>LEI: 96950032TUYMW11FB530       | Long             | DBT              | CORP              | FR        |      500000 | PA      | $545094.18    | 0.02%             | 2027-07-27      | Fixed         | 0.12%                 | Yes           |                  2 | On Loan: No      |
| Nokia OYJ                                            | Nokia OYJ                                                                | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               | CORP              | FI        |       47342 | NS      | $192935.16    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Phoenix Group Holdings plc                           | Phoenix Group Holdings plc                                               | CUSIP: N/A<br>LEI: 2138001P49OLAEU33T68       | Long             | EC               | CORP              | GB        |        6242 | NS      | $54586.74     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lenovo Group Ltd.                                    | Lenovo Group Ltd.                                                        | CUSIP: N/A<br>LEI: 254900VUZRGD5U73RE46       | Long             | EC               | CORP              | HK        |      404000 | NS      | $518029.01    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| EDP Renovaveis SA                                    | EDP Renovaveis SA                                                        | CUSIP: N/A<br>LEI: 529900MUFAH07Q1TAX06       | Long             | EC               | CORP              | ES        |        2804 | NS      | $32920.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Swisscom AG                                          | Swisscom AG (Registered)                                                 | CUSIP: N/A<br>LEI: 5493005SL9HHOXS3B739       | Long             | EC               | CORP              | CH        |         230 | NS      | $159812.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sekisui House Ltd.                                   | Sekisui House Ltd.                                                       | CUSIP: N/A<br>LEI: 529900GMNDOYQSAJAE76       | Long             | EC               | CORP              | JP        |        5300 | NS      | $111177.18    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                                      | ASML Holding NV                                                          | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       12088 | NS      | $8377874.33   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-366960.91   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Moran Foods LLC                                      | Moran Foods LLC, 1st Lien Super Senior Delayed Draw Term Loan            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       26485 | PA      | $26484.96     | 0.00%             | 2026-06-30      | Variable      | 15.91%                | No            |                  3 | On Loan: No      |
| Philip Morris International, Inc.                    | Philip Morris International, Inc.                                        | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |       28463 | NS      | $4669355.15   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Sage Group plc (The)                                 | Sage Group plc (The)                                                     | CUSIP: N/A<br>LEI: 2138005RN5XYLTF8G138       | Long             | EC               | CORP              | GB        |        8730 | NS      | $140174.56    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Qantas Airways Ltd.                                  | Qantas Airways Ltd.                                                      | CUSIP: N/A<br>LEI: YLXNW6TI6QSK1H8H0N82       | Long             | EC               | CORP              | AU        |        6519 | NS      | $45211.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Shoprite Holdings Ltd.                               | Shoprite Holdings Ltd.                                                   | CUSIP: N/A<br>LEI: 529900Q4O1EYP6NH5150       | Long             | EC               | CORP              | ZA        |       29439 | NS      | $429086.61    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIL IV LLC                                          | SCIL IV LLC                                                              | CUSIP: 78397UAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1677000 | PA      | $1667716.46   | 0.06%             | 2026-11-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Leonardo SpA                                         | Leonardo SpA                                                             | CUSIP: N/A<br>LEI: 529900X4EEX1U9LN3U39       | Long             | EC               | CORP              | IT        |        3598 | NS      | $193943.53    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kubota Corp.                                         | Kubota Corp.                                                             | CUSIP: N/A<br>LEI: 549300CSY4INHEHQQT13       | Long             | EC               | CORP              | JP        |        8700 | NS      | $97563.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AP Moller - Maersk A/S                               | AP Moller - Maersk A/S, Class A                                          | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |          26 | NS      | $51016.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASPEED Technology, Inc.                              | ASPEED Technology, Inc.                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |        2682 | NS      | $406164.14    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BPER Banca SpA                                       | BPER Banca SpA                                                           | CUSIP: N/A<br>LEI: N747OI7JINV7RUUH6190       | Long             | EC               | CORP              | IT        |        8846 | NS      | $87049.29     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Carnival Corp.                                       | Carnival Corp.                                                           | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |       32137 | NS      | $956718.49    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Trinity Industries, Inc.                             | Trinity Industries, Inc.                                                 | CUSIP: 896522AJ8<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | DBT              | CORP              | US        |     1483000 | PA      | $1543975.24   | 0.05%             | 2028-07-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Rentokil Initial plc                                 | Rentokil Initial plc                                                     | CUSIP: N/A<br>LEI: 549300VN4WV7Z6T14K68       | Long             | EC               | CORP              | GB        |       22442 | NS      | $111950.75    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $221132.55    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Alnylam Pharmaceuticals, Inc.                        | Alnylam Pharmaceuticals, Inc.                                            | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |        4762 | NS      | $1867846.88   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Investment AB Latour                                 | Investment AB Latour, Class B                                            | CUSIP: N/A<br>LEI: 5493006GFBLNB3Y0Y789       | Long             | EC               | CORP              | SE        |        1302 | NS      | $33239.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd.                              | DBS Group Holdings Ltd.                                                  | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |      211170 | NS      | $7750886.71   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Mohegan Tribal Gaming Authority                      | Mohegan Tribal Gaming Authority                                          | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1624000 | PA      | $1683660.89   | 0.06%             | 2030-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Kuehne + Nagel International AG                      | Kuehne + Nagel International AG (Registered)                             | CUSIP: N/A<br>LEI: 529900Q0YED3805QXQ66       | Long             | EC               | CORP              | CH        |         429 | NS      | $87464.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                        | Al Rajhi Bank                                                            | CUSIP: N/A<br>LEI: 558600BQZS4Y1DTU8589       | Long             | EC               | CORP              | SA        |      143411 | NS      | $3615974.77   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Midcap Financial Issuer Trust                        | Midcap Financial Issuer Trust                                            | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1661000 | PA      | $1646679.95   | 0.06%             | 2028-05-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Hang Seng Bank Ltd.                                  | Hang Seng Bank Ltd.                                                      | CUSIP: N/A<br>LEI: 5493009Z5F07LWZYMK62       | Long             | EC               | CORP              | HK        |        6700 | NS      | $97596.92     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Viking Cruises Ltd.                                  | Viking Cruises Ltd.                                                      | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     1440000 | PA      | $1451073.60   | 0.05%             | 2029-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Reckitt Benckiser Group plc                          | Reckitt Benckiser Group plc                                              | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |        6062 | NS      | $454321.40    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Canon, Inc.                                          | Canon, Inc.                                                              | CUSIP: N/A<br>LEI: 529900JH1GSC035SSP77       | Long             | EC               | CORP              | JP        |        8300 | NS      | $235741.94    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kikkoman Corp.                                       | Kikkoman Corp.                                                           | CUSIP: N/A<br>LEI: 529900T9K5UH9HXOND47       | Long             | EC               | CORP              | JP        |        6000 | NS      | $52709.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Avolta AG                                            | Avolta AG                                                                | CUSIP: N/A<br>LEI: 549300X53WDBVW7TIF57       | Long             | EC               | CORP              | CH        |         773 | NS      | $40183.29     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ITOCHU Corp.                                         | ITOCHU Corp.                                                             | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |       41800 | NS      | $2192519.40   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                               | Keurig Dr Pepper, Inc.                                                   | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      186246 | NS      | $6080931.90   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke AG                          | Bayerische Motoren Werke AG (Preference)                                 | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               | CORP              | DE        |         498 | NS      | $43537.88     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingspan Group plc                                   | Kingspan Group plc                                                       | CUSIP: N/A<br>LEI: 635400HM7V74SUB9OG75       | Long             | EC               | CORP              | IE        |       15626 | NS      | $1296832.47   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| NetEase, Inc.                                        | NetEase, Inc.                                                            | CUSIP: N/A<br>LEI: 5299004AF4DSJDB0PA32       | Long             | EC               | CORP              | KY        |       68500 | NS      | $1790744.46   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Sweden                                    | Kingdom of Sweden                                                        | CUSIP: N/A<br>LEI: ERE94C0BSULG2RM19605       | Long             | DBT              | NUSS              | SE        |     1985000 | PA      | $196252.00    | 0.01%             | 2028-05-12      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                  | Intesa Sanpaolo SpA                                                      | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |      134527 | NS      | $810561.07    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Arch Capital Group Ltd.                              | Arch Capital Group Ltd.                                                  | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Long             | EC               | CORP              | BM        |       13388 | NS      | $1152171.28   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp.                                        | Comcast Corp., Class A                                                   | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |       20059 | NS      | $666560.57    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| M3, Inc.                                             | M3, Inc.                                                                 | CUSIP: N/A<br>LEI: 3538001UOKRWIODYM055       | Long             | EC               | CORP              | JP        |        3900 | NS      | $47965.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Insurance Australia Group Ltd.                       | Insurance Australia Group Ltd.                                           | CUSIP: N/A<br>LEI: 549300PFEWKNHRG25N08       | Long             | EC               | CORP              | AU        |       21026 | NS      | $118027.81    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co. Ltd.                      | ASE Technology Holding Co. Ltd.                                          | CUSIP: N/A<br>LEI: 300300GO8QHPMV87NZ73       | Long             | EC               | CORP              | TW        |      251000 | NS      | $1217196.80   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | U.S. Treasury 10 Year Ultra Note                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |          -8 | NC      | $2862.04      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SIG Group AG                                         | SIG Group AG                                                             | CUSIP: N/A<br>LEI: 5493004Z6P7TSVB1L042       | Long             | EC               | CORP              | CH        |        2719 | NS      | $43990.11     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Kawasaki Kisen Kaisha Ltd.                           | Kawasaki Kisen Kaisha Ltd.                                               | CUSIP: N/A<br>LEI: 353800FL04R73DS5P870       | Long             | EC               | CORP              | JP        |        3100 | NS      | $43793.36     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JB Financial Group Co. Ltd.                          | JB Financial Group Co. Ltd.                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       33887 | NS      | $562426.84    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                    | Xcel Energy, Inc.                                                        | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |        5637 | NS      | $413981.28    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hungary                                              | Hungary Government Bond                                                  | CUSIP: N/A<br>LEI: 5299003F3UFKGCCMAP43       | Long             | DBT              | NUSS              | HU        |  2781150000 | PA      | $7820910.28   | 0.28%             | 2035-10-24      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Midea Group Co. Ltd.                                 | Midea Group Co. Ltd., Class A                                            | CUSIP: N/A<br>LEI: 3003003TRPHLHZD2IF61       | Long             | EC               | CORP              | CN        |       81100 | NS      | $787646.06    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Woodside Energy Group Ltd.                           | Woodside Energy Group Ltd.                                               | CUSIP: N/A<br>LEI: 2549005ZC5RXAOO7FH41       | Long             | EC               | CORP              | AU        |       16879 | NS      | $285633.04    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Regional SAB de CV                                   | Regional SAB de CV                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |       91583 | NS      | $708099.46    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hugel, Inc.                                          | Hugel, Inc.                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |        1762 | NS      | $425309.53    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd.                                       | BHP Group Ltd.                                                           | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |       45124 | NS      | $1139617.33   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Otsuka Corp.                                         | Otsuka Corp.                                                             | CUSIP: N/A<br>LEI: 529900RG9DJ58J3UIE72       | Long             | EC               | CORP              | JP        |        2000 | NS      | $37894.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                              | Level 3 Financing, Inc.                                                  | CUSIP: 527298CB7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     2683000 | PA      | $2515312.50   | 0.09%             | 2029-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Spain                                     | Bonos and Obligaciones del Estado                                        | CUSIP: N/A<br>LEI: 9598007A56S18711AH60       | Long             | DBT              | NUSS              | ES        |       70000 | PA      | $80498.17     | 0.00%             | 2030-01-31      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                | Sumitomo Mitsui Financial Group, Inc.                                    | CUSIP: N/A<br>LEI: 35380028MYWPB6AUO129       | Long             | EC               | CORP              | JP        |       32800 | NS      | $827432.85    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Steel Corp.                                   | Nippon Steel Corp.                                                       | CUSIP: N/A<br>LEI: 35380065QWQ4U2V3PA33       | Long             | EC               | CORP              | JP        |        8600 | NS      | $165618.97    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Paint Holdings Co. Ltd.                       | Nippon Paint Holdings Co. Ltd.                                           | CUSIP: N/A<br>LEI: 529900RYRJUN78A7PL87       | Long             | EC               | CORP              | JP        |        8400 | NS      | $71211.36     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                | Avantor Funding, Inc.                                                    | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |     1155000 | PA      | $1089283.62   | 0.04%             | 2029-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Kansai Electric Power Co., Inc. (The)                | Kansai Electric Power Co., Inc. (The)                                    | CUSIP: N/A<br>LEI: 353800PFUKP5ONPJNZ86       | Long             | EC               | CORP              | JP        |        8400 | NS      | $100854.10    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Angi, Inc.                                           | Angi, Inc.                                                               | CUSIP: 00183L201<br>LEI: 5493003ENY577E6SZL06 | Long             | EC               | CORP              | US        |        4001 | NS      | $64896.22     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-4411.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek, Inc.                                       | MediaTek, Inc.                                                           | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |        7349 | NS      | $332796.33    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | U.S. Treasury 10 Year Note                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -223 | NC      | $-303968.36   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Motor Acceptance Co. LLC                      | Nissan Motor Acceptance Co. LLC                                          | CUSIP: 654740BT5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     1792000 | PA      | $1661166.56   | 0.06%             | 2028-03-09      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.                  | Hong Kong Exchanges & Clearing Ltd.                                      | CUSIP: N/A<br>LEI: 213800YTVSXYQN17BW16       | Long             | EC               | CORP              | HK        |      140900 | NS      | $7625340.64   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-23053.41    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Gen Digital, Inc.                                    | Gen Digital, Inc.                                                        | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     1753000 | PA      | $1781801.56   | 0.06%             | 2027-09-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Credicorp Ltd.                                       | Credicorp Ltd.                                                           | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | BM        |         490 | NS      | $116130.00    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CHL Mortgage Pass-Through Trust                      | CHL Mortgage Pass-Through Trust, Series 2007-10, Class A4                | CUSIP: 12545CAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |           1 | PA      | $0.47         | 0.00%             | 2037-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United Utilities Group plc                           | United Utilities Group plc                                               | CUSIP: N/A<br>LEI: 2138002IEYQAOC88ZJ59       | Long             | EC               | CORP              | GB        |        6062 | NS      | $90492.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Holdings, Inc.                   | Nationstar Mortgage Holdings, Inc.                                       | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1018000 | PA      | $1016629.06   | 0.04%             | 2028-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Sierra Timeshare Receivables Funding LLC             | Sierra Timeshare Receivables Funding LLC, Series 2025-2A, Class A        | CUSIP: 82653HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      258000 | PA      | $258019.17    | 0.01%             | 2044-04-20      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| James Hardie Industries plc                          | James Hardie Industries plc                                              | CUSIP: N/A<br>LEI: 635400NSGXKTVOO7JU45       | Long             | EC               | CORP              | IE        |        5143 | NS      | $134990.62    | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| STMicroelectronics NV                                | STMicroelectronics NV                                                    | CUSIP: N/A<br>LEI: 213800Z8NOHIKRI42W10       | Long             | EC               | CORP              | NL        |        6019 | NS      | $152966.69    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nintendo Co. Ltd.                                    | Nintendo Co. Ltd.                                                        | CUSIP: N/A<br>LEI: 353800FEEXU6I9M0ZF27       | Long             | EC               | CORP              | JP        |        9800 | NS      | $819073.70    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ulta Beauty, Inc.                                    | Ulta Beauty, Inc.                                                        | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |        2555 | NS      | $1315850.55   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group, Inc.                | Public Service Enterprise Group, Inc.                                    | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |        2825 | NS      | $253656.75    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Clarios Global LP                                    | Clarios Global LP                                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      180000 | PA      | $185585.40    | 0.01%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Elia Group SA/NV                                     | Elia Group SA/NV                                                         | CUSIP: N/A<br>LEI: 549300S1MP1NFDIKT460       | Long             | EC               | CORP              | BE        |         436 | NS      | $50302.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Kingdom of Belgium                                   | Kingdom of Belgium                                                       | CUSIP: N/A<br>LEI: 549300SZ25JZFHRHWD76       | Long             | DBT              | NUSS              | BE        |      575000 | PA      | $650736.87    | 0.02%             | 2045-06-22      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Eagle Materials, Inc.                                | Eagle Materials, Inc.                                                    | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |        3900 | NS      | $874731.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                               | SAP SE                                                                   | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |        9283 | NS      | $2654527.67   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| CK Hutchison Holdings Ltd.                           | CK Hutchison Holdings Ltd.                                               | CUSIP: N/A<br>LEI: 254900Z8HM1VEPOQ2G79       | Long             | EC               | CORP              | KY        |       16388 | NS      | $106669.56    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Expedia Group, Inc.                                  | Expedia Group, Inc.                                                      | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2142 | NS      | $386031.24    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone, Inc.                                     | Blackstone, Inc.                                                         | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |       17491 | NS      | $3025243.36   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CoreLogic, Inc.                                      | CoreLogic, Inc.                                                          | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |     1724000 | PA      | $1624872.07   | 0.06%             | 2028-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Diageo plc                                           | Diageo plc                                                               | CUSIP: N/A<br>LEI: 213800ZVIELEA55JMJ32       | Long             | EC               | CORP              | GB        |       58895 | NS      | $1427471.16   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Gap, Inc. (The)                                      | Gap, Inc. (The)                                                          | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |     1751000 | PA      | $1615827.30   | 0.06%             | 2029-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Netflix, Inc.                                        | Netflix, Inc.                                                            | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |        4185 | NS      | $4852089.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingdom of Thailand                                  | Kingdom of Thailand                                                      | CUSIP: N/A<br>LEI: 254900PHJ6MSKT6C7026       | Long             | DBT              | NUSS              | TH        |   229930000 | PA      | $7783179.75   | 0.28%             | 2034-06-17      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Monday.com Ltd.                                      | Monday.com Ltd.                                                          | CUSIP: N/A<br>LEI: 984500MDAFVD86E3B328       | Long             | EC               | CORP              | IL        |         361 | NS      | $94686.69     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-10255.76    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Hoshizaki Corp.                                      | Hoshizaki Corp.                                                          | CUSIP: N/A<br>LEI: 5299001QAMLGU3SRBG20       | Long             | EC               | CORP              | JP        |        1000 | NS      | $34242.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                             | Arthur J Gallagher & Co.                                                 | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |        9334 | NS      | $2681191.50   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubu Electric Power Co., Inc.                       | Chubu Electric Power Co., Inc.                                           | CUSIP: N/A<br>LEI: 529900A76GOP0PGNHT63       | Long             | EC               | CORP              | JP        |        5700 | NS      | $69715.25     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NEC Corp.                                            | NEC Corp.                                                                | CUSIP: N/A<br>LEI: 5493000QYMPFRTEY4K28       | Long             | EC               | CORP              | JP        |       10900 | NS      | $313003.20    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| US Bancorp                                           | US Bancorp                                                               | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |       76589 | NS      | $3443441.44   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Dassault Systemes SE                                 | Dassault Systemes SE                                                     | CUSIP: N/A<br>LEI: 96950065LBWY0APQIM86       | Long             | EC               | CORP              | FR        |        5958 | NS      | $195727.79    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PDD Holdings, Inc.                                   | PDD Holdings, Inc.                                                       | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |        4410 | NS      | $500314.50    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-84042.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Olympus Corp.                                        | Olympus Corp.                                                            | CUSIP: N/A<br>LEI: 5299000Y52IFDI1I2A21       | Long             | EC               | CORP              | JP        |       10100 | NS      | $120665.25    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ADT Security Corp. (The)                             | ADT Security Corp. (The)                                                 | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     1888000 | PA      | $1806117.06   | 0.06%             | 2029-08-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                           | Axalta Coating Systems LLC                                               | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      399000 | PA      | $395482.14    | 0.01%             | 2027-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Newell Brands, Inc.                                  | Newell Brands, Inc.                                                      | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     1068000 | PA      | $1119128.92   | 0.04%             | 2028-06-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                | Dominion Energy, Inc.                                                    | CUSIP: 25746UCE7<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |      100000 | PA      | $99871.32     | 0.00%             | 2025-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                    | Wells Fargo & Co.                                                        | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      178598 | NS      | $14400356.74  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabre GLBL, Inc.                                     | Sabre GLBL, Inc.                                                         | CUSIP: 78573NAJ1<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |      921000 | PA      | $935643.90    | 0.03%             | 2027-06-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| JFE Holdings, Inc.                                   | JFE Holdings, Inc.                                                       | CUSIP: N/A<br>LEI: 3538002Y11Y03NA9B530       | Long             | EC               | CORP              | JP        |        5100 | NS      | $59022.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                  | Medline Borrower LP                                                      | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2482000 | PA      | $2530753.93   | 0.09%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| WSP Global, Inc.                                     | WSP Global, Inc.                                                         | CUSIP: 92938W202<br>LEI: 549300IQ87LU6X6ERQ78 | Long             | EC               | CORP              | CA        |        5514 | NS      | $1135352.34   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Lufthansa AG                                | Deutsche Lufthansa AG (Registered)                                       | CUSIP: N/A<br>LEI: 529900PH63HYJ86ASW55       | Long             | EC               | CORP              | DE        |        5275 | NS      | $45232.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LY Corp.                                             | LY Corp.                                                                 | CUSIP: N/A<br>LEI: 52990078MD2OL792YM35       | Long             | EC               | CORP              | JP        |       25400 | NS      | $92841.21     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Taisei Corp.                                         | Taisei Corp.                                                             | CUSIP: N/A<br>LEI: 529900TF7XJKIOWMLQ79       | Long             | EC               | CORP              | JP        |        1400 | NS      | $83711.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ZTO Express Cayman, Inc.                             | ZTO Express Cayman, Inc.                                                 | CUSIP: N/A<br>LEI: 549300SCJPK3YZJTJR78       | Long             | EC               | CORP              | KY        |       19750 | NS      | $385018.78    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Park Intermediate Holdings LLC                       | Park Intermediate Holdings LLC                                           | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2222000 | PA      | $2213340.20   | 0.08%             | 2028-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Talanx AG                                            | Talanx AG                                                                | CUSIP: N/A<br>LEI: 5299006ZIILJ6VJVSJ32       | Long             | EC               | CORP              | DE        |         574 | NS      | $76082.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Entergy Corp.                                        | Entergy Corp.                                                            | CUSIP: 29364GAM5<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |       97000 | PA      | $96555.84     | 0.00%             | 2025-09-15      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| POSCO Holdings, Inc.                                 | POSCO Holdings, Inc.                                                     | CUSIP: N/A<br>LEI: 988400E5HRVX81AYLM04       | Long             | EC               | CORP              | KR        |        1921 | NS      | $422445.92    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $3797.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Xerox Holdings Corp.                                 | Xerox Holdings Corp.                                                     | CUSIP: 98421MAA4<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |      114000 | PA      | $113669.91    | 0.00%             | 2025-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Grupo Aeroportuario del Sureste SAB de CV            | Grupo Aeroportuario del Sureste SAB de CV                                | CUSIP: 40051E202<br>LEI: 5299001W7JIDXCUOUC82 | Long             | EC               | CORP              | MX        |        2416 | NS      | $732796.96    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Godrej Consumer Products Ltd.                        | Godrej Consumer Products Ltd.                                            | CUSIP: N/A<br>LEI: 335800P4GUWLGZFK2D63       | Long             | EC               | CORP              | IN        |       41684 | NS      | $597254.56    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| WPP plc                                              | WPP plc                                                                  | CUSIP: N/A<br>LEI: 549300LSGBXPYHXGDT93       | Long             | EC               | CORP              | JE        |        9590 | NS      | $51924.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Finance North America LLC              | Mercedes-Benz Finance North America LLC                                  | CUSIP: 58769JAZ0<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |      250000 | PA      | $251766.93    | 0.01%             | 2027-11-15      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| WR Berkley Corp.                                     | WR Berkley Corp.                                                         | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |        5715 | NS      | $393249.15    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                                  | Cisco Systems, Inc.                                                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |       20930 | NS      | $1424914.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                 | Mitsubishi UFJ Financial Group, Inc.                                     | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |      663900 | NS      | $9150380.07   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co. LP                          | Penske Truck Leasing Co. LP                                              | CUSIP: 709599BL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      200000 | PA      | $197937.53    | 0.01%             | 2025-11-15      | Fixed         | 1.20%                 | Yes           |                  2 | On Loan: No      |
| OTP Bank Nyrt.                                       | OTP Bank Nyrt.                                                           | CUSIP: N/A<br>LEI: 529900W3MOO00A18X956       | Long             | EC               | CORP              | HU        |       11008 | NS      | $893254.56    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Heavy Industries Ltd.                     | Mitsubishi Heavy Industries Ltd.                                         | CUSIP: N/A<br>LEI: 353800TJ98PCAZROVE69       | Long             | EC               | CORP              | JP        |       28500 | NS      | $680477.32    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Stellantis NV                                        | Stellantis NV                                                            | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |       17925 | NS      | $158190.05    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Generali                                             | Generali                                                                 | CUSIP: N/A<br>LEI: 549300X5UKJVE386ZB61       | Long             | EC               | CORP              | IT        |        7673 | NS      | $286247.55    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Japan 10 Year Bond                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | JP        |          20 | NC      | $-91461.87    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Chile                                    | Republic of Chile                                                        | CUSIP: N/A<br>LEI: 549300FLZTJM5YJF8D34       | Long             | DBT              | NUSS              | CL        |      483000 | PA      | $561192.85    | 0.02%             | 2032-01-14      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Wartsila OYJ Abp                                     | Wartsila OYJ Abp                                                         | CUSIP: N/A<br>LEI: 743700G7A9J1PHM3X223       | Long             | EC               | CORP              | FI        |        4471 | NS      | $123526.74    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sekisui Chemical Co. Ltd.                            | Sekisui Chemical Co. Ltd.                                                | CUSIP: N/A<br>LEI: 529900KQIVT7NWFNMI70       | Long             | EC               | CORP              | JP        |        3400 | NS      | $58973.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Short-Term Euro-BTP                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        -166 | NC      | $73859.95     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                                 | Edison International                                                     | CUSIP: 281020AX5<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |     1312000 | PA      | $1286515.06   | 0.05%             | 2053-06-15      | Variable      | 8.12%                 | No            |                  2 | On Loan: —       |
| PepsiCo, Inc.                                        | PepsiCo, Inc.                                                            | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |        5127 | NS      | $707115.84    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bandai Namco Holdings, Inc.                          | Bandai Namco Holdings, Inc.                                              | CUSIP: N/A<br>LEI: 3538008EFEM34VRJDQ95       | Long             | EC               | CORP              | JP        |        5300 | NS      | $171385.70    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RLJ Lodging Trust LP                                 | RLJ Lodging Trust LP                                                     | CUSIP: 74965LAA9<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              | CORP              | US        |     1864000 | PA      | $1836216.54   | 0.06%             | 2026-07-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Corning, Inc.                                        | Corning, Inc.                                                            | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |       35494 | NS      | $2244640.56   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Epiroc AB                                            | Epiroc AB, Class B                                                       | CUSIP: N/A<br>LEI: 5493004Q73OEYW1SPE91       | Long             | EC               | CORP              | SE        |        3467 | NS      | $62149.41     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                  | Fifth Third Bancorp                                                      | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |       22603 | NS      | $939606.71    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Asics Corp.                                          | Asics Corp.                                                              | CUSIP: N/A<br>LEI: 3538002LJMRZ83SU0B85       | Long             | EC               | CORP              | JP        |        5900 | NS      | $138704.85    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Seven & i Holdings Co. Ltd.                          | Seven & i Holdings Co. Ltd.                                              | CUSIP: N/A<br>LEI: 52990037G8JRM3TWGY86       | Long             | EC               | CORP              | JP        |       19700 | NS      | $259708.93    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                  | Iron Mountain, Inc.                                                      | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     1810000 | PA      | $1859369.56   | 0.07%             | 2029-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Banca Mediolanum SpA                                 | Banca Mediolanum SpA                                                     | CUSIP: N/A<br>LEI: 7LVZJ6XRIE7VNZ4UBX81       | Long             | EC               | CORP              | IT        |        1988 | NS      | $35065.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Galderma Group AG                                    | Galderma Group AG                                                        | CUSIP: N/A<br>LEI: 89450001OK6O8ELQ4584       | Long             | EC               | CORP              | CH        |        1058 | NS      | $163056.99    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Ping An Insurance Group Co. of China Ltd.            | Ping An Insurance Group Co. of China Ltd., Class H                       | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | CN        |      177000 | NS      | $1215169.48   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Barry Callebaut AG                                   | Barry Callebaut AG (Registered)                                          | CUSIP: N/A<br>LEI: 213800Y5RWKLDPUTT265       | Long             | EC               | CORP              | CH        |          32 | NS      | $38969.55     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Ono Pharmaceutical Co. Ltd.                          | Ono Pharmaceutical Co. Ltd.                                              | CUSIP: N/A<br>LEI: 529900G26L4NG4GFJZ86       | Long             | EC               | CORP              | JP        |        3300 | NS      | $36903.16     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Casey's General Stores, Inc.                         | Casey's General Stores, Inc.                                             | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |        1997 | NS      | $1038699.61   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Chemical Group Corp.                      | Mitsubishi Chemical Group Corp.                                          | CUSIP: N/A<br>LEI: 353800YNKX4RQUGAR072       | Long             | EC               | CORP              | JP        |       12100 | NS      | $65905.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Hapoalim BM                                     | Bank Hapoalim BM                                                         | CUSIP: N/A<br>LEI: B6ARUI4946ST4S7WOU88       | Long             | EC               | CORP              | IL        |       11156 | NS      | $209209.35    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Primo Water Holdings, Inc.                           | Primo Water Holdings, Inc.                                               | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      155000 | PA      | $149513.43    | 0.01%             | 2029-04-30      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Daimler Truck Holding AG                             | Daimler Truck Holding AG                                                 | CUSIP: N/A<br>LEI: 529900PW78JIYOUBSR24       | Long             | EC               | CORP              | DE        |        4224 | NS      | $205477.75    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions Corp.                 | Cognizant Technology Solutions Corp., Class A                            | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |       14586 | NS      | $1046691.36   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cochlear Ltd.                                        | Cochlear Ltd.                                                            | CUSIP: N/A<br>LEI: 5493001OLLWY8KV5UC08       | Long             | EC               | CORP              | AU        |         581 | NS      | $118612.91    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Swatch Group AG (The)                                | Swatch Group AG (The)                                                    | CUSIP: N/A<br>LEI: 529900NTES2LEON1JZ55       | Long             | EC               | CORP              | CH        |         257 | NS      | $45452.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| WPC Eurobond BV                                      | WPC Eurobond BV                                                          | CUSIP: N/A<br>LEI: 5493005XDMOLBARL5M14       | Long             | DBT              | CORP              | NL        |     2350000 | PA      | $2583832.28   | 0.09%             | 2028-04-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                | OneMain Finance Corp.                                                    | CUSIP: 682695AA9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |      351000 | PA      | $368307.11    | 0.01%             | 2029-01-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                 | Royal Bank of Canada                                                     | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |       15821 | NS      | $2030034.35   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Acciona SA                                           | Acciona SA                                                               | CUSIP: N/A<br>LEI: 54930002KP75TLLLNO21       | Long             | EC               | CORP              | ES        |         219 | NS      | $42003.13     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Biocon Ltd.                                          | Biocon Ltd.                                                              | CUSIP: N/A<br>LEI: 335800NK3L7QCHLOC198       | Long             | EC               | CORP              | IN        |      124465 | NS      | $553334.71    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Corp.                                     | Mitsubishi Corp.                                                         | CUSIP: N/A<br>LEI: KVIPTY4PULAPGC1VVD26       | Long             | EC               | CORP              | JP        |       30400 | NS      | $599591.17    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                      | TransDigm, Inc.                                                          | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     3677000 | PA      | $3595055.00   | 0.13%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-47334.93    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Stockland                                            | Stockland                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |       21333 | NS      | $75631.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Belgium                                   | Kingdom of Belgium                                                       | CUSIP: N/A<br>LEI: 549300SZ25JZFHRHWD76       | Long             | DBT              | NUSS              | BE        |      995000 | PA      | $949505.95    | 0.03%             | 2038-06-22      | Fixed         | 1.90%                 | Yes           |                  2 | On Loan: No      |
| Erste Group Bank AG                                  | Erste Group Bank AG                                                      | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               | CORP              | AT        |        2737 | NS      | $250282.16    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-85917.80    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NTT Data Group Corp.                                 | NTT Data Group Corp.                                                     | CUSIP: N/A<br>LEI: 353800SZGJGSLJRRWB43       | Long             | EC               | CORP              | JP        |        2500 | NS      | $65194.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NMG Parent LLC                                       | NMG Parent LLC, Escrow                                                   | CUSIP: 629ESC039<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1069 | NS      | $13362.50     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| JB Hunt Transport Services, Inc.                     | JB Hunt Transport Services, Inc.                                         | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |        3092 | NS      | $445402.60    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway, Inc.                             | Berkshire Hathaway, Inc., Class B                                        | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |        3516 | NS      | $1659130.08   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Globant SA                                           | Globant SA                                                               | CUSIP: N/A<br>LEI: 2221008DCMSPYS42DS88       | Long             | EC               | CORP              | LU        |        2799 | NS      | $235843.74    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Fire & Marine Insurance Co. Ltd.             | Samsung Fire & Marine Insurance Co. Ltd.                                 | CUSIP: N/A<br>LEI: 988400JMBDK47EW0Z936       | Long             | EC               | CORP              | KR        |        2325 | NS      | $733978.37    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                              | Level 3 Financing, Inc.                                                  | CUSIP: 527298BV4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |         555 | PA      | $629.25       | 0.00%             | 2029-11-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co. LLC                      | Nissan Motor Acceptance Co. LLC                                          | CUSIP: 654740BS7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     1086000 | PA      | $1064793.74   | 0.04%             | 2026-03-09      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Telecom Italia SpA                                   | Telecom Italia SpA                                                       | CUSIP: N/A<br>LEI: 549300W384M3RI3VXU42       | Long             | EC               | CORP              | IT        |       95391 | NS      | $43835.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Haleon plc                                           | Haleon plc                                                               | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |       80225 | NS      | $376309.26    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                       | Morgan Stanley                                                           | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |       40881 | NS      | $5823907.26   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Holdings, Inc.                                | Nomura Holdings, Inc.                                                    | CUSIP: N/A<br>LEI: 549300B3CEAHYG7K8164       | Long             | EC               | CORP              | JP        |       26700 | NS      | $176388.14    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever plc                                         | Unilever plc                                                             | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |       22238 | NS      | $1290259.17   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                             | Engie SA                                                                 | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | DBT              | CORP              | FR        |     2200000 | PA      | $2577570.92   | 0.09%             | 2031-03-06      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                               | Alternative Loan Trust, Series 2005-28CB, Class 2A6                      | CUSIP: 12667GXF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |           0 | PA      | $0.00         | 0.00%             | 2035-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Corpay, Inc.                                         | Corpay, Inc.                                                             | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |        3476 | NS      | $1122921.80   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Lendmark Funding Trust                               | Lendmark Funding Trust, Series 2025-2A, Class A                          | CUSIP: 52603GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1407000 | PA      | $1407879.38   | 0.05%             | 2034-10-20      | Fixed         | 4.78%                 | Yes           |                  2 | On Loan: No      |
| Ferrovial SE                                         | Ferrovial SE                                                             | CUSIP: N/A<br>LEI: 72450022R2ZFL41Y6I04       | Long             | EC               | CORP              | NL        |        4540 | NS      | $232733.87    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Quanta Services, Inc.                                | Quanta Services, Inc.                                                    | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |        6224 | NS      | $2527753.12   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Somnigroup International, Inc.                       | Somnigroup International, Inc.                                           | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |     1757000 | PA      | $1668644.34   | 0.06%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Securitas AB                                         | Securitas AB, Class B                                                    | CUSIP: N/A<br>LEI: 635400TTYKE8EIWDS617       | Long             | EC               | CORP              | SE        |        4372 | NS      | $64886.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ANGI Group LLC                                       | ANGI Group LLC                                                           | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1539000 | PA      | $1433763.18   | 0.05%             | 2028-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Central Japan Railway Co.                            | Central Japan Railway Co.                                                | CUSIP: N/A<br>LEI: 353800YAR3OVUITHTG64       | Long             | EC               | CORP              | JP        |        6900 | NS      | $160854.06    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Axalta Coating Systems Ltd.                          | Axalta Coating Systems Ltd.                                              | CUSIP: N/A<br>LEI: 529900AGLPA40GV6H619       | Long             | EC               | CORP              | BM        |       16317 | NS      | $462097.44    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vonovia SE                                           | Vonovia SE                                                               | CUSIP: N/A<br>LEI: 5299005A2ZEP6AP7KM81       | Long             | EC               | CORP              | DE        |        6583 | NS      | $204307.28    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Norsk Hydro ASA                                      | Norsk Hydro ASA                                                          | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |       12502 | NS      | $74099.24     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                             | SBA Communications Corp.                                                 | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |     3098000 | PA      | $2887442.39   | 0.10%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| KeHE Distributors LLC                                | KeHE Distributors LLC                                                    | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1797000 | PA      | $1875367.17   | 0.07%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Banque Cantonale Vaudoise                            | Banque Cantonale Vaudoise (Registered)                                   | CUSIP: N/A<br>LEI: K1MOBB3OPSBBQO554R76       | Long             | EC               | CORP              | CH        |         265 | NS      | $30666.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Concordia Financial Group Ltd.                       | Concordia Financial Group Ltd.                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        9200 | NS      | $61007.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ball Corp.                                           | Ball Corp.                                                               | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |       20408 | NS      | $1168562.08   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Clicks Group Ltd.                                    | Clicks Group Ltd.                                                        | CUSIP: N/A<br>LEI: 378900E967958A677472       | Long             | EC               | CORP              | ZA        |       19982 | NS      | $418929.56    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingdom of the Netherlands                           | Kingdom of Netherlands                                                   | CUSIP: N/A<br>LEI: 254900G14ALGVKORFN62       | Long             | DBT              | NUSS              | NL        |       27000 | PA      | $33030.66     | 0.00%             | 2042-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| ICL Group Ltd.                                       | ICL Group Ltd.                                                           | CUSIP: N/A<br>LEI: 529900FQVQD88SHIGM04       | Long             | EC               | CORP              | IL        |        6884 | NS      | $42886.70     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Holcim AG                                            | Holcim AG                                                                | CUSIP: N/A<br>LEI: 529900EHPFPYHV6IQO98       | Long             | EC               | CORP              | CH        |        4633 | NS      | $369481.45    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nibe Industrier AB                                   | Nibe Industrier AB, Class B                                              | CUSIP: N/A<br>LEI: 549300ZQH0FIF1P0MX67       | Long             | EC               | CORP              | SE        |       13472 | NS      | $62165.34     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AGCO Corp.                                           | AGCO Corp.                                                               | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |       18922 | NS      | $2232228.34   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International Ltd.                       | Weatherford International Ltd.                                           | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |     2296000 | PA      | $2358708.35   | 0.08%             | 2030-04-30      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Ontario Teachers' Finance Trust                      | Ontario Teachers' Finance Trust                                          | CUSIP: 68329AAE8<br>LEI: 635400ZZE5J8OXXBBY26 | Long             | DBT              | NUSS              | CA        |      773000 | PA      | $535855.92    | 0.02%             | 2027-10-19      | Fixed         | 1.10%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-69175.25    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                       | Enbridge, Inc.                                                           | CUSIP: 29250NBN4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     1100000 | PA      | $1132809.70   | 0.04%             | 2083-01-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.                         | Vertex Pharmaceuticals, Inc.                                             | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |         583 | NS      | $266355.21    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Building Fund, Inc.                           | Nippon Building Fund, Inc.                                               | CUSIP: N/A<br>LEI: 52990053R8NL2MB32172       | Long             | EC               | CORP              | JP        |          68 | NS      | $62378.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                  | Post Holdings, Inc.                                                      | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |        4272 | NS      | $452020.32    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos., Inc.                                    | Lowe's Cos., Inc.                                                        | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |       36846 | NS      | $8237660.22   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices, Inc.                                 | Analog Devices, Inc.                                                     | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |       15196 | NS      | $3413477.48   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LEG Immobilien SE                                    | LEG Immobilien SE                                                        | CUSIP: N/A<br>LEI: 391200SO40AKONBO0Z96       | Long             | EC               | CORP              | DE        |         662 | NS      | $52545.29     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Holmen AB                                            | Holmen AB, Class B                                                       | CUSIP: N/A<br>LEI: 52990080SH3454F0QE68       | Long             | EC               | CORP              | SE        |         678 | NS      | $25198.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SITC International Holdings Co. Ltd.                 | SITC International Holdings Co. Ltd.                                     | CUSIP: N/A<br>LEI: 529900JUV4MOM9CE3V12       | Long             | EC               | CORP              | KY        |       12000 | NS      | $38904.46     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujikura Ltd.                                        | Fujikura Ltd.                                                            | CUSIP: N/A<br>LEI: 353800PSDZ8VRCKVPL51       | Long             | EC               | CORP              | JP        |        2200 | NS      | $149341.34    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Reece Ltd.                                           | Reece Ltd.                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |        1960 | NS      | $16970.79     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co. Ltd.             | Contemporary Amperex Technology Co. Ltd., Class A                        | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |       24200 | NS      | $883793.95    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Chemours Co. (The)                                   | Chemours Co. (The)                                                       | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |       38414 | NS      | $460199.72    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Schroders plc                                        | Schroders plc                                                            | CUSIP: N/A<br>LEI: 2138001YYBULX5SZ2H24       | Long             | EC               | CORP              | GB        |        6443 | NS      | $33117.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Treasury Corp. of Victoria                           | Treasury Corp. of Victoria                                               | CUSIP: N/A<br>LEI: 549300ZJM7BQW1P9UV75       | Long             | DBT              | NUSS              | AU        |     6715000 | PA      | $3610604.48   | 0.13%             | 2033-09-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Group Ltd.                                 | Macquarie Group Ltd.                                                     | CUSIP: N/A<br>LEI: ACMHD8HWFMFUIQQ8Y590       | Long             | EC               | CORP              | AU        |        3219 | NS      | $445784.63    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wesco Aircraft Holdings, Inc.                        | Wesco Aircraft Holdings, Inc.                                            | CUSIP: 97789LAB2<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |      197000 | PA      | $82740.00     | 0.00%             | 2026-11-15      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: —       |
| Ball Corp.                                           | Ball Corp.                                                               | CUSIP: 058498AY2<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     2429000 | PA      | $2479289.41   | 0.09%             | 2028-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Unibail-Rodamco-Westfield                            | Unibail-Rodamco-Westfield                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | FR        |        1081 | NS      | $104791.45    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| National Grid plc                                    | National Grid plc                                                        | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |       43533 | NS      | $611729.38    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wix.com Ltd.                                         | Wix.com Ltd.                                                             | CUSIP: N/A<br>LEI: 5493008P6N29Q1AG9464       | Long             | EC               | CORP              | IL        |         470 | NS      | $63934.10     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                     | Roche Holding AG                                                         | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |        6246 | NS      | $1949208.14   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                           | Allianz SE (Registered)                                                  | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |        3433 | NS      | $1356646.26   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                           | Alibaba Group Holding Ltd.                                               | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |        2579 | NS      | $311104.77    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Edenred SE                                           | Edenred SE                                                               | CUSIP: N/A<br>LEI: 9695006LOD5B2D7Y0N70       | Long             | EC               | CORP              | FR        |        2147 | NS      | $61314.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dr Ing hc F Porsche AG                               | Dr Ing hc F Porsche AG (Preference)                                      | CUSIP: N/A<br>LEI: 529900EWEX125AULXI58       | Long             | EC               | CORP              | DE        |        1012 | NS      | $51314.99     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Denso Corp.                                          | Denso Corp.                                                              | CUSIP: N/A<br>LEI: 549300RYPA10CQM3QK38       | Long             | EC               | CORP              | JP        |       16800 | NS      | $227932.77    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sembcorp Industries Ltd.                             | Sembcorp Industries Ltd.                                                 | CUSIP: N/A<br>LEI: 254900J0FF14U6TPQM96       | Long             | EC               | CORP              | SG        |        7900 | NS      | $46974.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker BP ASA                                          | Aker BP ASA                                                              | CUSIP: N/A<br>LEI: 549300NFTY73920OYK69       | Long             | EC               | CORP              | NO        |        2809 | NS      | $67575.09     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Epiroc AB                                            | Epiroc AB, Class A                                                       | CUSIP: N/A<br>LEI: 5493004Q73OEYW1SPE91       | Long             | EC               | CORP              | SE        |        5858 | NS      | $119228.87    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                             | Bausch Health Cos., Inc.                                                 | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     2063000 | PA      | $1825755.00   | 0.06%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Take-Two Interactive Software, Inc.                  | Take-Two Interactive Software, Inc.                                      | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |        8738 | NS      | $1946214.74   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ANA Holdings, Inc.                                   | ANA Holdings, Inc.                                                       | CUSIP: N/A<br>LEI: 5493008IRKIY0G3TE305       | Long             | EC               | CORP              | JP        |        1400 | NS      | $25959.59     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corp.                                            | EQT Corp.                                                                | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |       37406 | NS      | $2010572.50   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CCO Holdings LLC                                     | CCO Holdings LLC                                                         | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2217000 | PA      | $2237376.45   | 0.08%             | 2029-09-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Henry Schein, Inc.                                   | Henry Schein, Inc.                                                       | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |       12481 | NS      | $844339.65    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Yokogawa Electric Corp.                              | Yokogawa Electric Corp.                                                  | CUSIP: N/A<br>LEI: 529900MV0U7C9WWF4L22       | Long             | EC               | CORP              | JP        |        2000 | NS      | $53308.19     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Alumina Pty. Ltd.                                    | Alumina Pty. Ltd.                                                        | CUSIP: 02220AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |      794000 | PA      | $802756.23    | 0.03%             | 2030-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                        | Organon & Co.                                                            | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2768000 | PA      | $2619937.77   | 0.09%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| KDDI Corp.                                           | KDDI Corp.                                                               | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |       27300 | NS      | $448037.13    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Yum China Holdings, Inc.                             | Yum China Holdings, Inc.                                                 | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |       17350 | NS      | $805560.91    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HLF Financing Sarl LLC                               | HLF Financing Sarl LLC                                                   | CUSIP: 40390DAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1872000 | PA      | $2028689.98   | 0.07%             | 2029-04-15      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Chevron Corp.                                        | Chevron Corp.                                                            | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7472 | NS      | $1133054.08   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group (The)                                    | Cigna Group (The)                                                        | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |        8522 | NS      | $2278612.36   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-6259.11     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TOPPAN Holdings, Inc.                                | TOPPAN Holdings, Inc.                                                    | CUSIP: 890747108<br>LEI: 3538003H9W4KIDODQY20 | Long             | EC               | CORP              | JP        |        2100 | NS      | $56591.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mohawk Industries, Inc.                              | Mohawk Industries, Inc.                                                  | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |       14792 | NS      | $1693831.92   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Finance Corp.                                | OneMain Finance Corp.                                                    | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     3049000 | PA      | $2975069.34   | 0.11%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                   | Credit Agricole SA                                                       | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | EC               | CORP              | FR        |        9415 | NS      | $173278.68    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlassian Corp.                                      | Atlassian Corp., Class A                                                 | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |        6413 | NS      | $1229885.14   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Assa Abloy AB                                        | Assa Abloy AB, Class B                                                   | CUSIP: N/A<br>LEI: 549300YECS8HKCIMMB67       | Long             | EC               | CORP              | SE        |        8910 | NS      | $294834.14    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Sweden                                    | Kingdom of Sweden                                                        | CUSIP: N/A<br>LEI: ERE94C0BSULG2RM19605       | Long             | DBT              | NUSS              | SE        |      470000 | PA      | $31479.61     | 0.00%             | 2045-11-24      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| Bankinter SA                                         | Bankinter SA                                                             | CUSIP: N/A<br>LEI: VWMYAEQSTOPNV0SUGU82       | Long             | EC               | CORP              | ES        |        5993 | NS      | $85545.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Seagate Technology Holdings plc                      | Seagate Technology Holdings plc                                          | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | IE        |       15188 | NS      | $2384667.88   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingdom of Belgium                                   | Kingdom of Belgium                                                       | CUSIP: N/A<br>LEI: 549300SZ25JZFHRHWD76       | Long             | DBT              | NUSS              | BE        |     1276000 | PA      | $937755.32    | 0.03%             | 2050-06-22      | Fixed         | 1.70%                 | Yes           |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                            | Michaels Cos., Inc. (The)                                                | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |     2071000 | PA      | $1642246.88   | 0.06%             | 2028-05-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| PG&E Corp.                                           | PG&E Corp.                                                               | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     1064000 | PA      | $1038117.15   | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Navient Corp.                                        | Navient Corp.                                                            | CUSIP: 63938CAM0<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     1971000 | PA      | $1928124.64   | 0.07%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cinemark USA, Inc.                                   | Cinemark USA, Inc.                                                       | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |      596000 | PA      | $591785.74    | 0.02%             | 2028-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of the Netherlands                           | Kingdom of Netherlands                                                   | CUSIP: N/A<br>LEI: 254900G14ALGVKORFN62       | Long             | DBT              | NUSS              | NL        |     1030000 | PA      | $1084638.29   | 0.04%             | 2047-01-15      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Greensaif Pipelines Bidco Sarl                       | Greensaif Pipelines Bidco Sarl                                           | CUSIP: N/A<br>LEI: 549300YWDGUXPB8GRP47       | Long             | DBT              | CORP              | LU        |      780000 | PA      | $797791.80    | 0.03%             | 2036-02-23      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                      | Live Nation Entertainment, Inc.                                          | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     1490000 | PA      | $1448175.85   | 0.05%             | 2028-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Motability Operations Group plc                      | Motability Operations Group plc                                          | CUSIP: N/A<br>LEI: AZ3NL8JCZDCNUXFWI720       | Long             | DBT              | CORP              | GB        |     2245000 | PA      | $2601105.40   | 0.09%             | 2034-01-24      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Jiangsu Hengrui Pharmaceuticals Co. Ltd.             | Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A                        | CUSIP: N/A<br>LEI: 2549003BT1XS3SE3E448       | Long             | EC               | CORP              | CN        |      104820 | NS      | $913871.76    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| SGS SA                                               | SGS SA (Registered)                                                      | CUSIP: N/A<br>LEI: 2138007JNS19JHNA2336       | Long             | EC               | CORP              | CH        |        1432 | NS      | $145510.40    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Twilio, Inc.                                         | Twilio, Inc., Class A                                                    | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |        7160 | NS      | $923640.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines, Inc.                                | Delta Air Lines, Inc.                                                    | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |       12373 | NS      | $658367.33    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                     | Skandinaviska Enskilda Banken AB, Class A                                | CUSIP: N/A<br>LEI: F3JS33DEI6XQ4ZBPTN86       | Long             | EC               | CORP              | SE        |       14107 | NS      | $246767.24    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ConocoPhillips                                       | ConocoPhillips                                                           | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |       11569 | NS      | $1102988.46   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares, Inc.                      | First Citizens BancShares, Inc., Class A                                 | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |        2035 | NS      | $4059336.60   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ANZ Group Holdings Ltd.                              | ANZ Group Holdings Ltd.                                                  | CUSIP: N/A<br>LEI: 9845005D9C6BAA10BK72       | Long             | EC               | CORP              | AU        |       26414 | NS      | $518335.13    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| IMCD NV                                              | IMCD NV                                                                  | CUSIP: N/A<br>LEI: 724500NSJPNFJPDAUP02       | Long             | EC               | CORP              | NL        |         525 | NS      | $57545.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte. Ltd.            | Seagate Data Storage Technology Pte. Ltd.                                | CUSIP: 81180LAM7<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |      856000 | PA      | $912395.21    | 0.03%             | 2029-12-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Italy                                    | Buoni Poliennali del Tesoro                                              | CUSIP: N/A<br>LEI: 815600DE60799F5A9309       | Long             | DBT              | NUSS              | IT        |     2720000 | PA      | $3088985.20   | 0.11%             | 2054-10-01      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                        | Starwood Property Trust, Inc.                                            | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     1855000 | PA      | $1940032.40   | 0.07%             | 2029-04-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                 | Prime Security Services Borrower LLC                                     | CUSIP: 74166MAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      263000 | PA      | $262981.17    | 0.01%             | 2028-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ICICI Bank Ltd.                                      | ICICI Bank Ltd.                                                          | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |       23250 | NS      | $783525.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban One, Inc.                                      | Urban One, Inc.                                                          | CUSIP: 91705JAC9<br>LEI: 549300PLGIGPBRQUP240 | Long             | DBT              | CORP              | US        |     1516000 | PA      | $882773.68    | 0.03%             | 2028-02-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| E.Sun Financial Holding Co. Ltd.                     | E.Sun Financial Holding Co. Ltd.                                         | CUSIP: N/A<br>LEI: 549300X6CNQE512OPC90       | Long             | EC               | CORP              | TW        |      684790 | NS      | $732378.96    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| LCPR Senior Secured Financing DAC                    | LCPR Senior Secured Financing DAC                                        | CUSIP: 50201DAD5<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |     1899000 | PA      | $1290815.06   | 0.05%             | 2029-07-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $14088.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| E.ON SE                                              | E.ON SE                                                                  | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |       19958 | NS      | $364098.81    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JD Sports Fashion plc                                | JD Sports Fashion plc                                                    | CUSIP: N/A<br>LEI: 213800HROV6Y9MUU8375       | Long             | EC               | CORP              | GB        |       23030 | NS      | $25850.90     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                           | Charles Schwab Corp. (The)                                               | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      120718 | NS      | $11797770.14  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugai Pharmaceutical Co. Ltd.                       | Chugai Pharmaceutical Co. Ltd.                                           | CUSIP: N/A<br>LEI: 529900T9LAII161DCN95       | Long             | EC               | CORP              | JP        |        6000 | NS      | $287621.69    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Accor SA                                             | Accor SA                                                                 | CUSIP: N/A<br>LEI: 969500QZC2Q0TK11NV07       | Long             | EC               | CORP              | FR        |        1742 | NS      | $88291.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                      | Goldman Sachs Group, Inc. (The)                                          | CUSIP: N/A<br>LEI: 784F5XWPLTWKTBV3E584       | Long             | DBT              | CORP              | US        |     3080000 | PA      | $3239008.89   | 0.11%             | 2030-01-21      | Fixed         | 0.88%                 | Yes           |                  2 | On Loan: No      |
| Shell plc                                            | Shell plc                                                                | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |      185258 | NS      | $6656899.02   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| ASX Ltd.                                             | ASX Ltd.                                                                 | CUSIP: N/A<br>LEI: 549300VSBVYUCBIQKT71       | Long             | EC               | CORP              | AU        |        1727 | NS      | $77411.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Krung Thai Bank PCL                                  | Krung Thai Bank PCL                                                      | CUSIP: N/A<br>LEI: 54930007ZQMYCRFQGE36       | Long             | DBT              | CORP              | TH        |      530000 | PA      | $524037.50    | 0.02%             | 2026-03-25      | Variable      | 4.40%                 | Yes           |                  2 | On Loan: No      |
| AIB Group plc                                        | AIB Group plc                                                            | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | EC               | CORP              | IE        |       18629 | NS      | $146957.77    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Research Institute Ltd.                       | Nomura Research Institute Ltd.                                           | CUSIP: N/A<br>LEI: 5299005F1HCVF4M4QN79       | Long             | EC               | CORP              | JP        |        3400 | NS      | $134539.53    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CK Hutchison Holdings Ltd.                           | CK Hutchison Holdings Ltd.                                               | CUSIP: N/A<br>LEI: 254900Z8HM1VEPOQ2G79       | Long             | EC               | CORP              | KY        |        7500 | NS      | $48817.53     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken Holding NV                                  | Heineken Holding NV                                                      | CUSIP: N/A<br>LEI: 724500M1WJLFM9TYBS04       | Long             | EC               | CORP              | NL        |        1152 | NS      | $77749.82     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kesko OYJ                                            | Kesko OYJ, Class B                                                       | CUSIP: N/A<br>LEI: 743700OX6HSVMCAHPB95       | Long             | EC               | CORP              | FI        |        2428 | NS      | $52807.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Petroleo Brasileiro SA                               | Petroleo Brasileiro SA (Preference)                                      | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |      222035 | NS      | $1290682.15   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Yusen KK                                      | Nippon Yusen KK                                                          | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |        3900 | NS      | $136772.21    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Corp.                                         | Vistra Corp.                                                             | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |        5803 | NS      | $1210157.62   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIH Salt Holdings, Inc.                             | SCIH Salt Holdings, Inc.                                                 | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2520000 | PA      | $2446841.12   | 0.09%             | 2028-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Roche Holding AG                                     | Roche Holding AG                                                         | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |         285 | NS      | $94715.57     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sensata Technologies BV                              | Sensata Technologies BV                                                  | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |     1912000 | PA      | $1817221.82   | 0.06%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Aisin Corp.                                          | Aisin Corp.                                                              | CUSIP: N/A<br>LEI: 3538004IOK08PDY6I723       | Long             | EC               | CORP              | JP        |        4700 | NS      | $64954.10     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hayward Holdings, Inc.                               | Hayward Holdings, Inc.                                                   | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4078 | NS      | $62719.64     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mowi ASA                                             | Mowi ASA                                                                 | CUSIP: N/A<br>LEI: 549300W1OGQF5LZIH349       | Long             | EC               | CORP              | NO        |        4137 | NS      | $77061.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Hyundai Electric Co. Ltd.                         | HD Hyundai Electric Co. Ltd.                                             | CUSIP: N/A<br>LEI: 988400CSDKM9UHLHGB91       | Long             | EC               | CORP              | KR        |        1727 | NS      | $614573.83    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Volkswagen Leasing GmbH                              | Volkswagen Leasing GmbH                                                  | CUSIP: N/A<br>LEI: 5299004GLEUX88BSNB74       | Long             | DBT              | CORP              | DE        |     1950000 | PA      | $2297399.81   | 0.08%             | 2031-04-11      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Marubeni Corp.                                       | Marubeni Corp.                                                           | CUSIP: N/A<br>LEI: 4P4N3ORD02UGQT1T1W12       | Long             | EC               | CORP              | JP        |       12500 | NS      | $255921.89    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                     | ABN AMRO Bank NV                                                         | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               | CORP              | NL        |        4073 | NS      | $117744.18    | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Suntory Beverage & Food Ltd.                         | Suntory Beverage & Food Ltd.                                             | CUSIP: N/A<br>LEI: 549300FONLMVK7YYYH41       | Long             | EC               | CORP              | JP        |        1200 | NS      | $36234.87     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Airlines Ltd.                              | Singapore Airlines Ltd.                                                  | CUSIP: N/A<br>LEI: 549300ZG62N2599PWR15       | Long             | EC               | CORP              | SG        |       13200 | NS      | $68945.82     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                   | Banco Bilbao Vizcaya Argentaria SA                                       | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |       51233 | NS      | $854477.70    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Veolia Environnement SA                              | Veolia Environnement SA                                                  | CUSIP: N/A<br>LEI: 969500LENY69X51OOT31       | Long             | EC               | CORP              | FR        |        5596 | NS      | $189643.34    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Anywhere Real Estate Group LLC                       | Anywhere Real Estate Group LLC                                           | CUSIP: 75606DAS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2448000 | PA      | $2344394.28   | 0.08%             | 2030-04-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| Segro plc                                            | Segro plc                                                                | CUSIP: N/A<br>LEI: 213800XC35KGM9NFC641       | Long             | EC               | CORP              | GB        |       11429 | NS      | $97406.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Pan Pacific International Holdings Corp.             | Pan Pacific International Holdings Corp.                                 | CUSIP: N/A<br>LEI: 529900QLHJM2E18A5763       | Long             | EC               | CORP              | JP        |        3400 | NS      | $113751.31    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DCC plc                                              | DCC plc                                                                  | CUSIP: N/A<br>LEI: 213800UPS1QEE4TD3T45       | Long             | EC               | CORP              | IE        |         880 | NS      | $55115.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokio Marine Holdings, Inc.                          | Tokio Marine Holdings, Inc.                                              | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |       16300 | NS      | $654492.66    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Ingersoll Rand, Inc.                                 | Ingersoll Rand, Inc.                                                     | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |       14487 | NS      | $1226034.81   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WR Grace Holdings LLC                                | WR Grace Holdings LLC                                                    | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     2421000 | PA      | $2407352.97   | 0.09%             | 2027-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                          | Allied Universal Holdco LLC                                              | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1193000 | PA      | $1221352.84   | 0.04%             | 2030-06-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| BASF SE                                              | BASF SE                                                                  | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               | CORP              | DE        |        7934 | NS      | $388840.69    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sunoco LP                                            | Sunoco LP                                                                | CUSIP: 86765KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2492000 | PA      | $2566737.57   | 0.09%             | 2028-09-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-1722797.96  | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Denmark                                   | Kingdom of Denmark                                                       | CUSIP: N/A<br>LEI: 549300PTO6LS1PTM6607       | Long             | DBT              | NUSS              | DK        |     4850000 | PA      | $695807.36    | 0.02%             | 2029-11-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-15076.97    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Arkema SA                                            | Arkema SA                                                                | CUSIP: N/A<br>LEI: 9695000EHMS84KKP2785       | Long             | EC               | CORP              | FR        |         502 | NS      | $34136.73     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp.                                   | Toyota Motor Corp.                                                       | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |       84200 | NS      | $1497716.66   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $39594.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Silergy Corp.                                        | Silergy Corp.                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |       36216 | NS      | $389560.51    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Chemours Co. (The)                                   | Chemours Co. (The)                                                       | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     2196000 | PA      | $2016874.48   | 0.07%             | 2028-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| HDFC Bank Ltd.                                       | HDFC Bank Ltd.                                                           | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |       82322 | NS      | $6319859.94   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Jardine Matheson Holdings Ltd.                       | Jardine Matheson Holdings Ltd.                                           | CUSIP: N/A<br>LEI: 2138009KENVUNWOLPK41       | Long             | EC               | CORP              | BM        |        1400 | NS      | $76021.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Henkel AG & Co. KGaA                                 | Henkel AG & Co. KGaA                                                     | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EC               | CORP              | DE        |         924 | NS      | $65705.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Carrefour SA                                         | Carrefour SA                                                             | CUSIP: N/A<br>LEI: 549300B8P6MUJ1YWTS08       | Long             | EC               | CORP              | FR        |        4822 | NS      | $69104.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                          | Allied Universal Holdco LLC                                              | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2020000 | PA      | $1959625.23   | 0.07%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Genmab A/S                                           | Genmab A/S                                                               | CUSIP: N/A<br>LEI: 529900MTJPDPE4MHJ122       | Long             | EC               | CORP              | DK        |         570 | NS      | $122719.54    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UltraTech Cement Ltd.                                | UltraTech Cement Ltd.                                                    | CUSIP: N/A<br>LEI: 335800PC9O9B4BQHG814       | Long             | EC               | CORP              | IN        |        5256 | NS      | $731813.50    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuji Electric Co. Ltd.                               | Fuji Electric Co. Ltd.                                                   | CUSIP: N/A<br>LEI: 5299000HVNGZZTYYM906       | Long             | EC               | CORP              | JP        |        1200 | NS      | $59661.87     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| WH Group Ltd.                                        | WH Group Ltd.                                                            | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               | CORP              | KY        |       73567 | NS      | $73650.75     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AmWINS Group, Inc.                                   | AmWINS Group, Inc.                                                       | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |     2113000 | PA      | $2151720.73   | 0.08%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Terumo Corp.                                         | Terumo Corp.                                                             | CUSIP: N/A<br>LEI: 353800JX1R4582QVK932       | Long             | EC               | CORP              | JP        |       11800 | NS      | $200095.76    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Province of British Columbia Canada                  | Province of British Columbia                                             | CUSIP: 110709GJ5<br>LEI: 54930058TO7MEKUHWL16 | Long             | DBT              | NUSS              | CA        |      505000 | PA      | $273482.14    | 0.01%             | 2050-06-18      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                             | Infineon Technologies AG                                                 | CUSIP: N/A<br>LEI: TSI2PJM6EPETEQ4X1U25       | Long             | EC               | CORP              | DE        |       56744 | NS      | $2229083.80   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Wilmar International Ltd.                            | Wilmar International Ltd.                                                | CUSIP: N/A<br>LEI: 549300H2EAI4YRLWBB20       | Long             | EC               | CORP              | SG        |       16900 | NS      | $38250.76     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TJX Cos., Inc. (The)                                 | TJX Cos., Inc. (The)                                                     | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |       16801 | NS      | $2092228.53   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Capital Group, Inc.                           | Encore Capital Group, Inc.                                               | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |     1434000 | PA      | $1510347.54   | 0.05%             | 2029-04-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Neptune Bidco US, Inc.                               | Neptune Bidco US, Inc.                                                   | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     1688000 | PA      | $1633612.64   | 0.06%             | 2029-04-15      | Fixed         | 9.29%                 | Yes           |                  2 | On Loan: No      |
| AppLovin Corp.                                       | AppLovin Corp., Class A                                                  | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |        1659 | NS      | $648171.30    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy, Inc.                                 | Coterra Energy, Inc.                                                     | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |       12568 | NS      | $306533.52    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WiseTech Global Ltd.                                 | WiseTech Global Ltd.                                                     | CUSIP: N/A<br>LEI: 254900VE3AF301Q85K83       | Long             | EC               | CORP              | AU        |        1784 | NS      | $135120.43    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Post Holdings Co. Ltd.                         | Japan Post Holdings Co. Ltd.                                             | CUSIP: N/A<br>LEI: 5299003D9N4JBS256X18       | Long             | EC               | CORP              | JP        |       15900 | NS      | $147244.68    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan                                                | Japan Government Bond                                                    | CUSIP: N/A<br>LEI: 353800WZS8AXZXFUC241       | Long             | DBT              | NUSS              | JP        |   296550000 | PA      | $1721464.89   | 0.06%             | 2055-03-20      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                           | Avis Budget Car Rental LLC                                               | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1956000 | PA      | $1872691.42   | 0.07%             | 2029-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                       | Carnival Corp.                                                           | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |      341000 | PA      | $344401.39    | 0.01%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| WillScot Holdings Corp.                              | WillScot Holdings Corp.                                                  | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |       21529 | NS      | $631876.15    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HUB International Ltd.                               | HUB International Ltd.                                                   | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |     3039000 | PA      | $3167963.00   | 0.11%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ServiceNow, Inc.                                     | ServiceNow, Inc.                                                         | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |        1245 | NS      | $1174184.40   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Univision Communications, Inc.                       | Univision Communications, Inc.                                           | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     2602000 | PA      | $2673078.83   | 0.09%             | 2028-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Australia 10 Year Bond                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |         -67 | NC      | $12578.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ameriprise Financial, Inc.                           | Ameriprise Financial, Inc.                                               | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |        3028 | NS      | $1569079.32   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                       | Takeda Pharmaceutical Co. Ltd.                                           | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |       14100 | NS      | $387324.05    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                      | Citigroup, Inc.                                                          | CUSIP: 17327CAT0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     2805000 | PA      | $2793617.48   | 0.10%             | 2030-09-19      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| Lamb Weston Holdings, Inc.                           | Lamb Weston Holdings, Inc.                                               | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |       94000 | PA      | $93002.14     | 0.00%             | 2028-05-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Japan                                                | Japan Government Bond                                                    | CUSIP: N/A<br>LEI: 353800WZS8AXZXFUC241       | Long             | DBT              | NUSS              | JP        |  3543850000 | PA      | $20347527.08  | 0.72%             | 2043-09-20      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Bharat Electronics Ltd.                              | Bharat Electronics Ltd.                                                  | CUSIP: N/A<br>LEI: 335800HS8AOTM9W1F335       | Long             | EC               | CORP              | IN        |       77334 | NS      | $335961.97    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nemetschek SE                                        | Nemetschek SE                                                            | CUSIP: N/A<br>LEI: 529900R0S2IX1S358J38       | Long             | EC               | CORP              | DE        |         513 | NS      | $76433.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Geberit AG                                           | Geberit AG (Registered)                                                  | CUSIP: N/A<br>LEI: 52990093Z5OHD6T7BS47       | Long             | EC               | CORP              | CH        |         297 | NS      | $227531.35    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC                           | Outfront Media Capital LLC                                               | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1511000 | PA      | $1438549.06   | 0.05%             | 2029-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                    | Hertz Corp. (The)                                                        | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     1300000 | PA      | $1358151.38   | 0.05%             | 2029-07-15      | Fixed         | 12.62%                | Yes           |                  2 | On Loan: No      |
| Noble Finance II LLC                                 | Noble Finance II LLC                                                     | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2134000 | PA      | $2176609.58   | 0.08%             | 2030-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-467443.95   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ENN Energy Holdings Ltd.                             | ENN Energy Holdings Ltd.                                                 | CUSIP: N/A<br>LEI: 549300V7BXPWT6WIPR03       | Long             | EC               | CORP              | KY        |       65500 | NS      | $533826.46    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Swire Pacific Ltd.                                   | Swire Pacific Ltd., Class A                                              | CUSIP: N/A<br>LEI: 549300KZOZHII0DGF611       | Long             | EC               | CORP              | HK        |        3000 | NS      | $27118.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-5701.24     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Tenneco, Inc.                                        | Tenneco, Inc.                                                            | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |     2546000 | PA      | $2527021.66   | 0.09%             | 2028-11-17      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| United Kingdom of Great Britain and Northern Ireland | United Kingdom of Great Britain and Northern Ireland                     | CUSIP: N/A<br>LEI: ECTRVYYCEF89VWYS6K36       | Long             | DBT              | NUSS              | GB        |    14640000 | PA      | $19231351.29  | 0.68%             | 2035-03-07      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Comstock Resources, Inc.                             | Comstock Resources, Inc.                                                 | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     1682000 | PA      | $1662991.55   | 0.06%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Straumann Holding AG                                 | Straumann Holding AG (Registered)                                        | CUSIP: N/A<br>LEI: 50670046ML5FVIM60Z37       | Long             | EC               | CORP              | CH        |         992 | NS      | $120865.20    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AAR Escrow Issuer LLC                                | AAR Escrow Issuer LLC                                                    | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1357000 | PA      | $1392362.06   | 0.05%             | 2029-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Pattern Energy Operations LP                         | Pattern Energy Operations LP                                             | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      264000 | PA      | $255943.75    | 0.01%             | 2028-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| IQVIA Holdings, Inc.                                 | IQVIA Holdings, Inc.                                                     | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |        3058 | NS      | $568359.88    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurich Insurance Group AG                            | Zurich Insurance Group AG                                                | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |        1301 | NS      | $887420.78    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Co. Ltd.                              | Mitsui Fudosan Co. Ltd.                                                  | CUSIP: N/A<br>LEI: 353800ND4ZKNZDYKMF33       | Long             | EC               | CORP              | JP        |      217200 | NS      | $1941398.83   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                           | Procter & Gamble Co. (The)                                               | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |        3553 | NS      | $534619.91    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena SME SA                                          | Aena SME SA                                                              | CUSIP: N/A<br>LEI: 959800R7QMXKF0NFMT29       | Long             | EC               | CORP              | ES        |        6670 | NS      | $179610.65    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| UniCredit SpA                                        | UniCredit SpA                                                            | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |       44944 | NS      | $3306702.88   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Denmark                                   | Kingdom of Denmark                                                       | CUSIP: N/A<br>LEI: 549300PTO6LS1PTM6607       | Long             | DBT              | NUSS              | DK        |     1145000 | PA      | $173329.77    | 0.01%             | 2033-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Euro-OAT                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |          32 | NC      | $17601.54     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Daifuku Co. Ltd.                                     | Daifuku Co. Ltd.                                                         | CUSIP: N/A<br>LEI: 3538006FG1W4X3MYHL36       | Long             | EC               | CORP              | JP        |        2900 | NS      | $73417.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United Mexican States                                | Mex Bonos Desarr Fix Rt                                                  | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |    34000000 | PA      | $1634023.06   | 0.06%             | 2034-11-23      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Freedom Mortgage Corp.                               | Freedom Mortgage Corp.                                                   | CUSIP: 35640YAJ6<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |      564000 | PA      | $564320.35    | 0.02%             | 2027-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                   | Arches Buyer, Inc.                                                       | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |     1118000 | PA      | $1076800.92   | 0.04%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| West Japan Railway Co.                               | West Japan Railway Co.                                                   | CUSIP: N/A<br>LEI: 353800QGUXHZ7EBCR121       | Long             | EC               | CORP              | JP        |        4000 | NS      | $87576.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered plc                               | Standard Chartered plc                                                   | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | EC               | CORP              | GB        |       17946 | NS      | $321717.52    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| China Construction Bank Corp.                        | China Construction Bank Corp., Class H                                   | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | CN        |     1261000 | NS      | $1289755.30   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| J Sainsbury plc                                      | J Sainsbury plc                                                          | CUSIP: N/A<br>LEI: 213800VGZAAJIKJ9Y484       | Long             | EC               | CORP              | GB        |       15627 | NS      | $62486.05     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Novelis Corp.                                        | Novelis Corp.                                                            | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |      609000 | PA      | $599125.86    | 0.02%             | 2026-11-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                       | Univision Communications, Inc.                                           | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     1062000 | PA      | $982642.58    | 0.03%             | 2029-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                    | Venture Global Calcasieu Pass LLC                                        | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      300000 | PA      | $308102.70    | 0.01%             | 2030-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Dr Reddy's Laboratories Ltd.                         | Dr Reddy's Laboratories Ltd.                                             | CUSIP: 256135203<br>LEI: 335800OVDPY3DVZR2798 | Long             | EC               | CORP              | IN        |       32559 | NS      | $462988.98    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Endesa SA                                            | Endesa SA                                                                | CUSIP: N/A<br>LEI: 549300LHK07F2CHV4X31       | Long             | EC               | CORP              | ES        |        2824 | NS      | $81696.68     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu Corp.                                          | Tokyu Corp.                                                              | CUSIP: N/A<br>LEI: 3538005PGNIBTZYXAE45       | Long             | EC               | CORP              | JP        |        4400 | NS      | $49529.57     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Five Point Operating Co. LP                          | Five Point Operating Co. LP                                              | CUSIP: 33834YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1462000 | PA      | $1478340.77   | 0.05%             | 2028-01-15      | Variable      | 10.50%                | Yes           |                  2 | On Loan: No      |
| Secom Co. Ltd.                                       | Secom Co. Ltd.                                                           | CUSIP: N/A<br>LEI: 529900TYCL9N3E9PGE47       | Long             | EC               | CORP              | JP        |        3700 | NS      | $132879.02    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Obayashi Corp.                                       | Obayashi Corp.                                                           | CUSIP: N/A<br>LEI: 529900YT4O5S0LCXWD54       | Long             | EC               | CORP              | JP        |        5800 | NS      | $85406.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                           | Warnermedia Holdings, Inc.                                               | CUSIP: 934423AA2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |      888000 | PA      | $957048.63    | 0.03%             | 2030-01-17      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Astellas Pharma, Inc.                                | Astellas Pharma, Inc.                                                    | CUSIP: N/A<br>LEI: 529900IB708DY2HBBB35       | Long             | EC               | CORP              | JP        |       16100 | NS      | $166934.83    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sofina SA                                            | Sofina SA                                                                | CUSIP: N/A<br>LEI: 5493000GMVR38VUO5D39       | Long             | EC               | CORP              | BE        |         136 | NS      | $41646.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Liberty Mutual Group, Inc.                           | Liberty Mutual Group, Inc.                                               | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |      724000 | PA      | $704534.08    | 0.02%             | 2051-12-15      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Province of Alberta Canada                           | Province of Alberta                                                      | CUSIP: 013051EB9<br>LEI: LQPXMHHNJKIPJYE53543 | Long             | DBT              | NUSS              | CA        |      410000 | PA      | $294924.22    | 0.01%             | 2028-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                    | Alliant Holdings Intermediate LLC                                        | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       83000 | PA      | $81258.13     | 0.00%             | 2027-10-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Capcom Co. Ltd.                                      | Capcom Co. Ltd.                                                          | CUSIP: N/A<br>LEI: 529900JJWQKXS3TC8744       | Long             | EC               | CORP              | JP        |        3100 | NS      | $78912.77     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Universal Music Group NV                             | Universal Music Group NV                                                 | CUSIP: N/A<br>LEI: 724500GJBUL3D9TW9Y18       | Long             | EC               | CORP              | NL        |        9781 | NS      | $281369.27    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Localiza Rent a Car SA                               | Localiza Rent a Car SA                                                   | CUSIP: N/A<br>LEI: 984500C442A7E0CD4D11       | Long             | EC               | CORP              | BR        |       54838 | NS      | $337868.40    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Motor Acceptance Co. LLC                      | Nissan Motor Acceptance Co. LLC                                          | CUSIP: 65480CAF2<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |      247000 | PA      | $254475.46    | 0.01%             | 2028-09-15      | Fixed         | 7.05%                 | Yes           |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                          | Crescent Energy Finance LLC                                              | CUSIP: 45344LAC7<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     1287000 | PA      | $1336371.55   | 0.05%             | 2028-02-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: —       |
| Frontier Communications Holdings LLC                 | Frontier Communications Holdings LLC                                     | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3247000 | PA      | $3247587.71   | 0.11%             | 2027-10-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-6216.09     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Realty & Development Co. Ltd.               | Sumitomo Realty & Development Co. Ltd.                                   | CUSIP: N/A<br>LEI: 353800SO2DCLOI3LNZ64       | Long             | EC               | CORP              | JP        |        2800 | NS      | $102281.68    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Gray Media, Inc.                                     | Gray Media, Inc.                                                         | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     1936000 | PA      | $2095138.08   | 0.07%             | 2029-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| ArcelorMittal SA                                     | ArcelorMittal SA                                                         | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               | CORP              | LU        |        4170 | NS      | $130004.71    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| California Resources Corp.                           | California Resources Corp.                                               | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |     1755000 | PA      | $1802797.71   | 0.06%             | 2029-06-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Italy                                    | Buoni Poliennali del Tesoro                                              | CUSIP: N/A<br>LEI: 815600DE60799F5A9309       | Long             | DBT              | NUSS              | IT        |     7560000 | PA      | $8753436.89   | 0.31%             | 2035-08-01      | Fixed         | 3.65%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Euro-Buxl 30 Year Bond                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         -55 | NC      | $206985.59    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                           | Siemens AG (Registered)                                                  | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |       45893 | NS      | $11689101.78  | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                         | Verizon Communications, Inc.                                             | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |       50262 | NS      | $2149203.12   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Poste Italiane SpA                                   | Poste Italiane SpA                                                       | CUSIP: N/A<br>LEI: 815600354DEDBD0BA991       | Long             | EC               | CORP              | IT        |        4064 | NS      | $87802.41     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                      | Goldman Sachs Group, Inc. (The)                                          | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |        3449 | NS      | $2495661.91   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $9711.76      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Generale des Etablissements Michelin SCA         | Cie Generale des Etablissements Michelin SCA                             | CUSIP: N/A<br>LEI: 549300SOSI58J6VIW052       | Long             | EC               | CORP              | FR        |      181824 | NS      | $6468662.98   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Sandvik AB                                           | Sandvik AB                                                               | CUSIP: N/A<br>LEI: 5299008ZUAXN43LVZF54       | Long             | EC               | CORP              | SE        |        9478 | NS      | $231260.08    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                  | Nexstar Media, Inc.                                                      | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     1684000 | PA      | $1636752.69   | 0.06%             | 2028-11-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-8010.12     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REA Group Ltd.                                       | REA Group Ltd.                                                           | CUSIP: N/A<br>LEI: 894500KA4UBDATOFPN36       | Long             | EC               | CORP              | AU        |         470 | NS      | $71595.57     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC               | Ardagh Metal Packaging Finance USA LLC                                   | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3181000 | PA      | $2999270.74   | 0.11%             | 2028-09-01      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: —       |
| Delta Electronics, Inc.                              | Delta Electronics, Inc.                                                  | CUSIP: N/A<br>LEI: 529900UVZWNWGDLJSM52       | Long             | EC               | CORP              | TW        |       69000 | NS      | $1299829.58   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios SA       | ACS Actividades de Construccion y Servicios SA                           | CUSIP: N/A<br>LEI: 95980020140005558665       | Long             | EC               | CORP              | ES        |        1616 | NS      | $111527.92    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                                | Walt Disney Co. (The)                                                    | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      145633 | NS      | $17346346.63  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Redeia Corp. SA                                      | Redeia Corp. SA                                                          | CUSIP: N/A<br>LEI: 5493009HMD0C90GUV498       | Long             | EC               | CORP              | ES        |        3607 | NS      | $69925.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United Mexican States                                | United Mexican States                                                    | CUSIP: 91087BAU4<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |      964000 | PA      | $977737.00    | 0.03%             | 2028-02-09      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Syensqo SA                                           | Syensqo SA                                                               | CUSIP: N/A<br>LEI: 549300060XNJ90PLNS10       | Long             | EC               | CORP              | BE        |         648 | NS      | $51357.81     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca plc                                      | AstraZeneca plc                                                          | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |       57895 | NS      | $8446398.25   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-4098.19     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Humana, Inc.                                         | Humana, Inc.                                                             | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       14296 | NS      | $3572141.52   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp.                                           | Esab Corp.                                                               | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |     1595000 | PA      | $1629704.01   | 0.06%             | 2029-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Gates Industrial Corp. plc                           | Gates Industrial Corp. plc                                               | CUSIP: N/A<br>LEI: 549300S6K4FWUSB9KM27       | Long             | EC               | CORP              | GB        |       56254 | NS      | $1395099.20   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix, Inc.                                       | SK Hynix, Inc.                                                           | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |       25411 | NS      | $4925057.57   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| TDK Corp.                                            | TDK Corp.                                                                | CUSIP: N/A<br>LEI: 3538005O8WNU39U8NX03       | Long             | EC               | CORP              | JP        |       17300 | NS      | $210764.87    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Xiaomi Corp.                                         | Xiaomi Corp., Class B                                                    | CUSIP: N/A<br>LEI: 2549001ACVFAZRNMKL32       | Long             | EC               | CORP              | KY        |      230600 | NS      | $1551465.68   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fisher & Paykel Healthcare Corp. Ltd.                | Fisher & Paykel Healthcare Corp. Ltd.                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |        5212 | NS      | $112990.32    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Sands China Ltd.                                     | Sands China Ltd.                                                         | CUSIP: N/A<br>LEI: 549300EVO6UZDGY05787       | Long             | EC               | CORP              | KY        |       21600 | NS      | $52288.61     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco BPM SpA                                        | Banco BPM SpA                                                            | CUSIP: N/A<br>LEI: 815600E4E6DCD2D25E30       | Long             | DBT              | CORP              | IT        |     2000000 | PA      | $2386399.75   | 0.08%             | 2027-11-29      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Smiths Group plc                                     | Smiths Group plc                                                         | CUSIP: N/A<br>LEI: 213800MJL6IPZS3ASA11       | Long             | EC               | CORP              | GB        |        2984 | NS      | $92432.91     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                                         | ING Groep NV                                                             | CUSIP: 456837AV5<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |      200000 | PA      | $196095.33    | 0.01%             | 2027-04-01      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| Volkswagen AG                                        | Volkswagen AG (Preference)                                               | CUSIP: N/A<br>LEI: 529900NNUPAGGOMPXZ31       | Long             | EC               | CORP              | DE        |        1833 | NS      | $191669.16    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Otsuka Holdings Co. Ltd.                             | Otsuka Holdings Co. Ltd.                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        3900 | NS      | $185677.87    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                      | Microsoft Corp.                                                          | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      127262 | NS      | $67894277.00  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandoz Group AG                                      | Sandoz Group AG                                                          | CUSIP: N/A<br>LEI: 5493000JWK6XWFEUD320       | Long             | EC               | CORP              | CH        |        3716 | NS      | $212514.07    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ORIX Corp.                                           | ORIX Corp.                                                               | CUSIP: N/A<br>LEI: 35380016EMHNBOVYE123       | Long             | EC               | CORP              | JP        |       10300 | NS      | $231369.36    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Magnera Corp.                                        | Magnera Corp.                                                            | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |     1617000 | PA      | $1429166.37   | 0.05%             | 2029-11-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Textron, Inc.                                        | Textron, Inc.                                                            | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |       10195 | NS      | $792865.15    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Beiersdorf AG                                        | Beiersdorf AG                                                            | CUSIP: N/A<br>LEI: L47NHHI0Z9X22DV46U41       | Long             | EC               | CORP              | DE        |         882 | NS      | $109599.33    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Renesas Electronics Corp.                            | Renesas Electronics Corp.                                                | CUSIP: N/A<br>LEI: 5299000EPC47VJQOFB81       | Long             | EC               | CORP              | JP        |       15000 | NS      | $182445.95    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| International Consolidated Airlines Group SA         | International Consolidated Airlines Group SA                             | CUSIP: N/A<br>LEI: 959800TZHQRUSH1ESL13       | Long             | EC               | CORP              | ES        |       11049 | NS      | $55391.67     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Quest Diagnostics, Inc.                              | Quest Diagnostics, Inc.                                                  | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |        4642 | NS      | $777117.22    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System, Inc.                        | Columbia Banking System, Inc.                                            | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       11521 | NS      | $274199.80    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Prime Site AG                                  | Swiss Prime Site AG (Registered)                                         | CUSIP: N/A<br>LEI: 506700XI9H64OPR34158       | Long             | EC               | CORP              | CH        |         713 | NS      | $98614.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dino Polska SA                                       | Dino Polska SA                                                           | CUSIP: N/A<br>LEI: 259400H4L81SMPRTW956       | Long             | EC               | CORP              | PL        |       32690 | NS      | $431120.42    | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Nexon Co. Ltd.                                       | Nexon Co. Ltd.                                                           | CUSIP: N/A<br>LEI: 5299005SFO0GAJFLKN43       | Long             | EC               | CORP              | JP        |        2900 | NS      | $53064.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-257.25      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MGM Resorts International                            | MGM Resorts International                                                | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |      376000 | PA      | $371023.38    | 0.01%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                      | Madison IAQ LLC                                                          | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |      435000 | PA      | $420943.37    | 0.01%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Alcoa Corp.                                          | Alcoa Corp.                                                              | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |       11627 | NS      | $348461.19    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                | Bank of America Corp.                                                    | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      345538 | NS      | $16333581.26  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Orsted A/S                                           | Orsted A/S                                                               | CUSIP: N/A<br>LEI: W9NG6WMZIYEU8VEDOG48       | Long             | EC               | CORP              | DK        |        1494 | NS      | $70414.47     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: —       |
| PB Fintech Ltd.                                      | PB Fintech Ltd.                                                          | CUSIP: N/A<br>LEI: 98450083AC6B01HF1F87       | Long             | EC               | CORP              | IN        |       23102 | NS      | $474076.27    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Public Storage                                       | Public Storage                                                           | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |        1665 | NS      | $452780.10    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Inpex Corp.                                          | Inpex Corp.                                                              | CUSIP: N/A<br>LEI: 353800VHYYADPR6MXQ47       | Long             | EC               | CORP              | JP        |        7800 | NS      | $111062.32    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurazeo SE                                           | Eurazeo SE                                                               | CUSIP: N/A<br>LEI: 969500C656AA39O94N60       | Long             | EC               | CORP              | FR        |         357 | NS      | $20948.69     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Galp Energia SGPS SA                                 | Galp Energia SGPS SA                                                     | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |        3709 | NS      | $70824.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto plc                                        | Rio Tinto plc                                                            | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |       10033 | NS      | $597559.87    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Gold Fields Ltd.                                     | Gold Fields Ltd.                                                         | CUSIP: N/A<br>LEI: 5299003KXIBJQYCBBD72       | Long             | EC               | CORP              | ZA        |       34074 | NS      | $830960.26    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BKW AG                                               | BKW AG                                                                   | CUSIP: N/A<br>LEI: 549300IE30SKTUO98Q38       | Long             | EC               | CORP              | CH        |         186 | NS      | $41528.70     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NIKE, Inc.                                           | NIKE, Inc., Class B                                                      | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |        5305 | NS      | $396230.45    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Unicharm Corp.                                       | Unicharm Corp.                                                           | CUSIP: N/A<br>LEI: 353800UQ4BZIJTAQEG85       | Long             | EC               | CORP              | JP        |        9900 | NS      | $68479.77     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $50149.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Labcorp Holdings, Inc.                               | Labcorp Holdings, Inc.                                                   | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6409 | NS      | $1666852.72   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                            | Safran SA                                                                | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |       37383 | NS      | $12327097.86  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Ashtead Group plc                                    | Ashtead Group plc                                                        | CUSIP: N/A<br>LEI: 2138007UTBN8X9K1A235       | Long             | EC               | CORP              | GB        |        3835 | NS      | $256221.58    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Canada                              | National Bank of Canada                                                  | CUSIP: 63307A2Y0<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |      250000 | PA      | $250227.99    | 0.01%             | 2027-03-25      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Centrica plc                                         | Centrica plc                                                             | CUSIP: N/A<br>LEI: E26EDV109X6EEPBKVH76       | Long             | EC               | CORP              | GB        |       44704 | NS      | $97175.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TransUnion                                           | TransUnion                                                               | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |        3642 | NS      | $346681.98    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Trend Micro, Inc.                                    | Trend Micro, Inc.                                                        | CUSIP: N/A<br>LEI: 3538005O5UJ5RNAGVE16       | Long             | EC               | CORP              | JP        |        1100 | NS      | $67076.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinor ASA                                          | Equinor ASA                                                              | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |        7448 | NS      | $191321.11    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kerry Group plc                                      | Kerry Group plc, Class A                                                 | CUSIP: N/A<br>LEI: 635400TLVVBNXLFHWC59       | Long             | EC               | CORP              | IE        |        1322 | NS      | $122113.25    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Murphy USA, Inc.                                     | Murphy USA, Inc.                                                         | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |         719 | NS      | $260623.12    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Wiwynn Corp.                                         | Wiwynn Corp.                                                             | CUSIP: N/A<br>LEI: 254900FV2R15PMKXFL69       | Long             | EC               | CORP              | TW        |        9407 | NS      | $858544.85    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Nice Ltd.                                            | Nice Ltd.                                                                | CUSIP: N/A<br>LEI: 254900YTY4EF5Z4W0A51       | Long             | EC               | CORP              | IL        |         562 | NS      | $87734.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hankyu Hanshin Holdings, Inc.                        | Hankyu Hanshin Holdings, Inc.                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        2000 | NS      | $52123.30     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ZipRecruiter, Inc.                                   | ZipRecruiter, Inc.                                                       | CUSIP: 98980BAA1<br>LEI: 549300HLOVNNFCY2IV80 | Long             | DBT              | CORP              | US        |     1689000 | PA      | $1278241.45   | 0.05%             | 2030-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| UBS Switzerland AG                                   | UBS Switzerland AG                                                       | CUSIP: N/A<br>LEI: 549300WOIFUSNYH0FL22       | Long             | DBT              | CORP              | CH        |     7070000 | PA      | $8252577.81   | 0.29%             | 2029-03-05      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Rational AG                                          | Rational AG                                                              | CUSIP: N/A<br>LEI: 529900K139N6UFJ1A758       | Long             | EC               | CORP              | DE        |          45 | NS      | $34737.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Santos Ltd.                                          | Santos Ltd.                                                              | CUSIP: N/A<br>LEI: 5299000RK70B5O2M7077       | Long             | EC               | CORP              | AU        |       28871 | NS      | $145275.69    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco BPM SpA                                        | Banco BPM SpA                                                            | CUSIP: N/A<br>LEI: 815600E4E6DCD2D25E30       | Long             | EC               | CORP              | IT        |       10102 | NS      | $128832.49    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Yara International ASA                               | Yara International ASA                                                   | CUSIP: N/A<br>LEI: 213800WKOUWXWFJ5Z514       | Long             | EC               | CORP              | NO        |        1472 | NS      | $54415.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Emerson Electric Co.                                 | Emerson Electric Co.                                                     | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |       53615 | NS      | $7801518.65   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Elbit Systems Ltd.                                   | Elbit Systems Ltd.                                                       | CUSIP: N/A<br>LEI: 529900Q9CB1REUMZSS32       | Long             | EC               | CORP              | IL        |         238 | NS      | $109797.11    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                             | U.S. Treasury Inflation Linked Notes                                     | CUSIP: 91282CLV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    12637687 | PA      | $12799286.42  | 0.45%             | 2029-10-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Aeon Co. Ltd.                                        | Aeon Co. Ltd.                                                            | CUSIP: N/A<br>LEI: 5299009MXFL34SA71416       | Long             | EC               | CORP              | JP        |        6600 | NS      | $210822.86    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Asian Development Bank                               | Asian Development Bank                                                   | CUSIP: N/A<br>LEI: 549300X0MVH42CY8Q105       | Long             | DBT              | NUSS              | AU        |     3030000 | PA      | $1936441.85   | 0.07%             | 2027-09-10      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Techtronic Industries Co. Ltd.                       | Techtronic Industries Co. Ltd.                                           | CUSIP: N/A<br>LEI: 549300HZW2SBE758OK89       | Long             | EC               | CORP              | HK        |       46500 | NS      | $556030.88    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| SoftBank Corp.                                       | SoftBank Corp.                                                           | CUSIP: N/A<br>LEI: 353800M1YCTS9JRBJ535       | Long             | EC               | CORP              | JP        |      254500 | NS      | $367711.05    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| First Horizon Corp.                                  | First Horizon Corp.                                                      | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |       45784 | NS      | $998549.04    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier, Inc.                                       | Rayonier, Inc.                                                           | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |       12167 | NS      | $283612.77    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Financial Services, Inc.                    | PennyMac Financial Services, Inc.                                        | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |       95000 | PA      | $100261.29    | 0.00%             | 2029-12-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                                | Saudi Arabian Oil Co.                                                    | CUSIP: N/A<br>LEI: 5586006WD91QHB7J4X50       | Long             | EC               | CORP              | SA        |      121307 | NS      | $784935.60    | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Covestro AG                                          | Covestro AG                                                              | CUSIP: N/A<br>LEI: 3912005AWHKLQ1CPLV11       | Long             | EC               | CORP              | DE        |        1603 | NS      | $110431.90    | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Nippon Telegraph & Telephone Corp.                   | NTT, Inc.                                                                | CUSIP: N/A<br>LEI: 353800VHQU5VIXVUA841       | Long             | EC               | CORP              | JP        |      265600 | NS      | $268219.24    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Volvo AB                                             | Volvo AB, Class B                                                        | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |      373596 | NS      | $10729603.64  | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                 | Charter Communications Operating LLC                                     | CUSIP: 161175AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2250000 | PA      | $2326061.07   | 0.08%             | 2035-10-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Nitori Holdings Co. Ltd.                             | Nitori Holdings Co. Ltd.                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |         700 | NS      | $59280.77     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hongkong Land Holdings Ltd.                          | Hongkong Land Holdings Ltd.                                              | CUSIP: N/A<br>LEI: 213800XCHYNRPAYGXW28       | Long             | EC               | CORP              | BM        |        9800 | NS      | $59290.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MTR Corp. Ltd.                                       | MTR Corp. Ltd.                                                           | CUSIP: N/A<br>LEI: 254900IH4U9NHH9AQM97       | Long             | EC               | CORP              | HK        |       14000 | NS      | $50361.79     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                  | American Axle & Manufacturing, Inc.                                      | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     1654000 | PA      | $1500736.72   | 0.05%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fresenius SE & Co. KGaA                              | Fresenius SE & Co. KGaA                                                  | CUSIP: N/A<br>LEI: XDFJ0CYCOO1FXRFTQS51       | Long             | EC               | CORP              | DE        |        3755 | NS      | $179228.75    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd.                                       | AIA Group Ltd.                                                           | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |      616200 | NS      | $5745554.89   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Sigma Healthcare Ltd.                                | Sigma Healthcare Ltd.                                                    | CUSIP: N/A<br>LEI: 529900BZSP3BK7GYAO50       | Long             | EC               | CORP              | AU        |       41048 | NS      | $75820.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Skanska AB                                           | Skanska AB, Class B                                                      | CUSIP: N/A<br>LEI: 549300UINV5RINHGMG07       | Long             | EC               | CORP              | SE        |        3025 | NS      | $70562.64     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| 3M Co.                                               | 3M Co.                                                                   | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |       48915 | NS      | $7299096.30   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-13038.68    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust               | Velocity Commercial Capital Loan Trust, Series 2018-2, Class M3          | CUSIP: 92259BAK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      156562 | PA      | $144532.95    | 0.01%             | 2048-10-26      | Variable      | 4.72%                 | Yes           |                  2 | On Loan: No      |
| Province of British Columbia Canada                  | Province of British Columbia                                             | CUSIP: 110709FL1<br>LEI: 54930058TO7MEKUHWL16 | Long             | DBT              | NUSS              | CA        |      880000 | PA      | $662565.82    | 0.02%             | 2037-06-18      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Carlsberg A/S                                        | Carlsberg A/S, Class B                                                   | CUSIP: N/A<br>LEI: 5299001O0WJQYB5GYZ19       | Long             | EC               | CORP              | DK        |         850 | NS      | $105967.21    | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Honeywell International, Inc.                        | Honeywell International, Inc.                                            | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |        2956 | NS      | $657266.60    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Telkom Indonesia Persero Tbk. PT                     | Telkom Indonesia Persero Tbk. PT                                         | CUSIP: N/A<br>LEI: 529900M5SQZAOKV1PC81       | Long             | EC               | CORP              | ID        |     5369200 | NS      | $942804.35    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ITT, Inc.                                            | ITT, Inc.                                                                | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |       12006 | NS      | $2040539.76   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                     | TotalEnergies SE                                                         | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |       18162 | NS      | $1080012.47   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Woolworths Group Ltd.                                | Woolworths Group Ltd.                                                    | CUSIP: N/A<br>LEI: QNWEWQBS7HP85QHXQL92       | Long             | EC               | CORP              | AU        |       10859 | NS      | $219222.57    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kone OYJ                                             | Kone OYJ, Class B                                                        | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               | CORP              | FI        |        3021 | NS      | $185515.02    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                            | Vistra Operations Co. LLC                                                | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     2006000 | PA      | $1995252.25   | 0.07%             | 2027-07-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Engie SA                                             | Engie SA                                                                 | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |       91360 | NS      | $2053611.76   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Salmar ASA                                           | Salmar ASA                                                               | CUSIP: N/A<br>LEI: 5967007LIEEXZXGDBK67       | Long             | EC               | CORP              | NO        |         595 | NS      | $24171.32     | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $10661.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                | Alexandria Real Estate Equities, Inc.                                    | CUSIP: 015271AP4<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |      250000 | PA      | $248496.37    | 0.01%             | 2026-04-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Simmons Foods, Inc.                                  | Simmons Foods, Inc.                                                      | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1797000 | PA      | $1700533.10   | 0.06%             | 2029-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Pike Corp.                                           | Pike Corp.                                                               | CUSIP: 721283AA7<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |     1638000 | PA      | $1631307.46   | 0.06%             | 2028-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Lonza Group AG                                       | Lonza Group AG (Registered)                                              | CUSIP: N/A<br>LEI: 549300EFW4H2TCZ71055       | Long             | EC               | CORP              | CH        |        3851 | NS      | $2684027.71   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizrahi Tefahot Bank Ltd.                            | Mizrahi Tefahot Bank Ltd.                                                | CUSIP: N/A<br>LEI: YZO9YEGEO4VYDZMDWF93       | Long             | EC               | CORP              | IL        |        1382 | NS      | $85371.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MercadoLibre, Inc.                                   | MercadoLibre, Inc.                                                       | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |         867 | NS      | $2058162.63   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BT Group plc                                         | BT Group plc                                                             | CUSIP: N/A<br>LEI: 213800LRO7NS5CYQMN21       | Long             | EC               | CORP              | GB        |       53107 | NS      | $145037.24    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Telefonica SA                                        | Telefonica SA                                                            | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |       32764 | NS      | $169088.42    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayerische Motoren Werke AG                          | Bayerische Motoren Werke AG                                              | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               | CORP              | DE        |        2577 | NS      | $245205.42    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Shriram Finance Ltd.                                 | Shriram Finance Ltd.                                                     | CUSIP: N/A<br>LEI: 335800TM2YO24B76XL26       | Long             | EC               | CORP              | IN        |       96825 | NS      | $693469.68    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Chevron Phillips Chemical Co. LLC                    | Chevron Phillips Chemical Co. LLC                                        | CUSIP: 166754AP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       78000 | PA      | $76908.89     | 0.00%             | 2026-12-01      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Nestle SA                                            | Nestle SA (Registered)                                                   | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |       51974 | NS      | $4541336.42   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Admiral Group plc                                    | Admiral Group plc                                                        | CUSIP: N/A<br>LEI: 213800FGVM7Z9EJB2685       | Long             | EC               | CORP              | GB        |        2314 | NS      | $104307.08    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Transurban Group                                     | Transurban Group                                                         | CUSIP: N/A<br>LEI: 549300ZR71SUQ4VUTM79       | Long             | EC               | CORP              | AU        |       27632 | NS      | $244538.36    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                             | Venture Global LNG, Inc.                                                 | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     2052000 | PA      | $2237868.11   | 0.08%             | 2029-02-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Coles Group Ltd.                                     | Coles Group Ltd.                                                         | CUSIP: N/A<br>LEI: 549300OHQRG2HN8LZ793       | Long             | EC               | CORP              | AU        |       11924 | NS      | $158755.73    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Stagwell Global LLC                                  | Stagwell Global LLC                                                      | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |     1978000 | PA      | $1903859.62   | 0.07%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| DSV A/S                                              | DSV A/S                                                                  | CUSIP: N/A<br>LEI: 529900X41C0BSLK67H70       | Long             | EC               | CORP              | DK        |        1816 | NS      | $406938.38    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Group NV                                         | KBC Group NV                                                             | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |       25972 | NS      | $2708984.09   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| OneSky Flight LLC                                    | OneSky Flight LLC                                                        | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |      852000 | PA      | $897622.04    | 0.03%             | 2029-12-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Japan Exchange Group, Inc.                           | Japan Exchange Group, Inc.                                               | CUSIP: N/A<br>LEI: 353800578ADEGIJTVW07       | Long             | EC               | CORP              | JP        |      313300 | NS      | $3061687.62   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                    | Alliant Holdings Intermediate LLC                                        | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2067000 | PA      | $2094956.18   | 0.07%             | 2028-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Martin Marietta Materials, Inc.                      | Martin Marietta Materials, Inc.                                          | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |        1006 | NS      | $578329.28    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Motiva Infraestrutura de Mobilidade SA               | Motiva Infraestrutura de Mobilidade SA                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      155556 | NS      | $341417.30    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Olympus Water US Holding Corp.                       | Olympus Water US Holding Corp.                                           | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |     2723000 | PA      | $2854588.98   | 0.10%             | 2028-11-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Kongsberg Gruppen ASA                                | Kongsberg Gruppen ASA                                                    | CUSIP: N/A<br>LEI: 5967007LIEEXZXJ9HK73       | Long             | EC               | CORP              | NO        |        3910 | NS      | $116843.06    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-1065.08     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Autostrade per l'Italia SpA                          | Autostrade per l'Italia SpA                                              | CUSIP: N/A<br>LEI: 815600149448CEB9B230       | Long             | DBT              | CORP              | IT        |     1900000 | PA      | $2364851.30   | 0.08%             | 2033-06-14      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Coca-Cola HBC AG                                     | Coca-Cola HBC AG                                                         | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49       | Long             | EC               | CORP              | CH        |        1938 | NS      | $100722.13    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Travel + Leisure Co.                                 | Travel + Leisure Co.                                                     | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |     2026000 | PA      | $2040920.17   | 0.07%             | 2026-07-31      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| FTAI Aviation Investors LLC                          | FTAI Aviation Investors LLC                                              | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |      780000 | PA      | $778117.00    | 0.03%             | 2028-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Hikma Pharmaceuticals plc                            | Hikma Pharmaceuticals plc                                                | CUSIP: N/A<br>LEI: 549300BNS685UXH4JI75       | Long             | EC               | CORP              | GB        |        1463 | NS      | $37814.57     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RTX Corp.                                            | RTX Corp.                                                                | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |       19780 | NS      | $3116734.60   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Holding Co. LLC                                  | PBF Holding Co. LLC                                                      | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2068000 | PA      | $1990159.24   | 0.07%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Unipol Assicurazioni SpA                             | Unipol Assicurazioni SpA                                                 | CUSIP: N/A<br>LEI: 8156005CE5E7340CCA86       | Long             | EC               | CORP              | IT        |        3189 | NS      | $63964.05     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-6310.17     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HCA Healthcare, Inc.                                 | HCA Healthcare, Inc.                                                     | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |        1149 | NS      | $406734.51    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd.                             | Reliance Industries Ltd.                                                 | CUSIP: 759470107<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |       32086 | NS      | $2019709.90   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-54728.16    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Windstream Escrow LLC                                | Windstream Escrow LLC                                                    | CUSIP: 973CONAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        3729 | PA      | $46.61        | 0.00%             | 2028-08-15      | Fixed         | 7.75%                 | No            |                  3 | On Loan: No      |
| IHI Corp.                                            | IHI Corp.                                                                | CUSIP: N/A<br>LEI: 549300ETQIESIUQ2OE26       | Long             | EC               | CORP              | JP        |       15200 | NS      | $1692623.06   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Obic Co. Ltd.                                        | Obic Co. Ltd.                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        2900 | NS      | $103247.50    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Aviation SA                                 | Dassault Aviation SA                                                     | CUSIP: N/A<br>LEI: 969500CVFTUT88V8QN95       | Long             | EC               | CORP              | FR        |         173 | NS      | $53864.82     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                   | General Motors Financial Co., Inc.                                       | CUSIP: 37045XBG0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |      150000 | PA      | $150142.79    | 0.01%             | 2026-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                  | Newell Brands, Inc.                                                      | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |      469000 | PA      | $466919.38    | 0.02%             | 2029-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Elevance Health, Inc.                                | Elevance Health, Inc.                                                    | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |        2632 | NS      | $745066.56    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco BTG Pactual SA                                 | Banco BTG Pactual SA                                                     | CUSIP: N/A<br>LEI: ZXLTQRYIK6IJH3R0IK66       | Long             | EC               | CORP              | BR        |       48641 | NS      | $340080.03    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical, Inc.                             | Intuitive Surgical, Inc.                                                 | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |        4815 | NS      | $2316448.35   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                                   | State Street Corp.                                                       | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |        8669 | NS      | $968760.75    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive, Inc.                             | Group 1 Automotive, Inc.                                                 | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |     2116000 | PA      | $2040185.84   | 0.07%             | 2028-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Smith & Nephew plc                                   | Smith & Nephew plc                                                       | CUSIP: N/A<br>LEI: 213800ZTMDN8S67S1H61       | Long             | EC               | CORP              | GB        |        7397 | NS      | $113048.06    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ontario Teachers' Finance Trust                      | Ontario Teachers' Finance Trust                                          | CUSIP: 68329AAP3<br>LEI: 635400ZZE5J8OXXBBY26 | Long             | DBT              | NUSS              | CA        |     3483000 | PA      | $3496025.27   | 0.12%             | 2028-04-25      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| AGC, Inc.                                            | AGC, Inc.                                                                | CUSIP: N/A<br>LEI: JE4WFFEELMVPFZ0G1E77       | Long             | EC               | CORP              | JP        |        1700 | NS      | $51160.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Yakult Honsha Co. Ltd.                               | Yakult Honsha Co. Ltd.                                                   | CUSIP: N/A<br>LEI: 353800YJPSPGG7KI0S71       | Long             | EC               | CORP              | JP        |        2300 | NS      | $37001.34     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Trust Corp.                                 | Northern Trust Corp.                                                     | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |        6090 | NS      | $791700.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie, Inc.                                         | AbbVie, Inc.                                                             | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |       53818 | NS      | $10172678.36  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group, Inc.                                  | Omnicom Group, Inc.                                                      | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |       14894 | NS      | $1073112.70   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Amrize Ltd.                                          | Amrize Ltd.                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CH        |       13004 | NS      | $664764.48    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease, Inc.                               | Global Net Lease, Inc.                                                   | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1920000 | PA      | $1829956.74   | 0.06%             | 2027-12-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                             | Venture Global LNG, Inc.                                                 | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      387000 | PA      | $400666.35    | 0.01%             | 2028-06-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Canada 10 Year Bond                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | CA        |         -99 | NC      | $45964.67     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Honda Finance Corp.                         | American Honda Finance Corp.                                             | CUSIP: 02665WGE5<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |       67000 | PA      | $67223.71     | 0.00%             | 2027-07-09      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| BOC Hong Kong Holdings Ltd.                          | BOC Hong Kong Holdings Ltd.                                              | CUSIP: N/A<br>LEI: 254900JB98W77JDJMW15       | Long             | EC               | CORP              | HK        |       33000 | NS      | $148178.53    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp.                               | ON Semiconductor Corp.                                                   | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |       17452 | NS      | $983594.72    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Havells India Ltd.                                   | Havells India Ltd.                                                       | CUSIP: N/A<br>LEI: 549300U1LOGHTTNT7D47       | Long             | EC               | CORP              | IN        |       29712 | NS      | $507473.05    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $10013.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UPM-Kymmene OYJ                                      | UPM-Kymmene OYJ                                                          | CUSIP: N/A<br>LEI: 213800EC6PW5VU4J9U64       | Long             | EC               | CORP              | FI        |        4745 | NS      | $122979.88    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                  | Union Pacific Corp.                                                      | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |        2288 | NS      | $507867.36    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EXOR NV                                              | EXOR NV                                                                  | CUSIP: N/A<br>LEI: 5493002ENHZ6NYET7405       | Long             | EC               | CORP              | NL        |         786 | NS      | $75751.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Millicom International Cellular SA                   | Millicom International Cellular SA                                       | CUSIP: N/A<br>LEI: 549300CTHC1CP86P2G96       | Long             | EC               | CORP              | LU        |       10462 | NS      | $420049.30    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CLP Holdings Ltd.                                    | CLP Holdings Ltd.                                                        | CUSIP: N/A<br>LEI: 25490002BUTSMP94GO68       | Long             | EC               | CORP              | HK        |       14500 | NS      | $125856.80    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co. Ltd.                                         | BYD Co. Ltd., Class H                                                    | CUSIP: N/A<br>LEI: 5299005557VL7ULJ7A69       | Long             | EC               | CORP              | CN        |       25291 | NS      | $369270.30    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Shimadzu Corp.                                       | Shimadzu Corp.                                                           | CUSIP: N/A<br>LEI: 353800Y64Z08WEH8PH97       | Long             | EC               | CORP              | JP        |        2100 | NS      | $46487.05     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Shopify, Inc.                                        | Shopify, Inc., Class A                                                   | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |        9175 | NS      | $1121276.75   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| TSB Bank plc                                         | TSB Bank plc                                                             | CUSIP: N/A<br>LEI: 549300XP222MV7P3CC54       | Long             | DBT              | CORP              | GB        |     4450000 | PA      | $5202291.92   | 0.18%             | 2029-03-05      | Fixed         | 3.32%                 | Yes           |                  2 | On Loan: No      |
| Bunzl plc                                            | Bunzl plc                                                                | CUSIP: N/A<br>LEI: 213800Q1Q9DV4L78UM09       | Long             | EC               | CORP              | GB        |        2913 | NS      | $86450.48     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Oriental Land Co. Ltd.                               | Oriental Land Co. Ltd.                                                   | CUSIP: N/A<br>LEI: 353800PIFKBZ6KTU5994       | Long             | EC               | CORP              | JP        |        9600 | NS      | $197669.01    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Pearson plc                                          | Pearson plc                                                              | CUSIP: N/A<br>LEI: 2138004JBXWWJKIURC57       | Long             | EC               | CORP              | GB        |        5309 | NS      | $75074.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| South32 Ltd.                                         | South32 Ltd.                                                             | CUSIP: N/A<br>LEI: 213800LAZNPXSBKVHR17       | Long             | EC               | CORP              | AU        |       40116 | NS      | $75018.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NXP Semiconductors NV                                | NXP Semiconductors NV                                                    | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |       18081 | NS      | $3865175.37   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Daikin Industries Ltd.                               | Daikin Industries Ltd.                                                   | CUSIP: N/A<br>LEI: 549300Y7FWSTSHMW5Y57       | Long             | EC               | CORP              | JP        |        2300 | NS      | $282798.44    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NGL Energy Operating LLC                             | NGL Energy Operating LLC                                                 | CUSIP: 62922LAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1770000 | PA      | $1751552.88   | 0.06%             | 2029-02-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Western Digital Corp.                                | Western Digital Corp.                                                    | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |       56251 | NS      | $4426391.19   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co.                                     | Baker Hughes Co.                                                         | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      194732 | NS      | $8772676.60   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.                      | Regeneron Pharmaceuticals, Inc.                                          | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |         502 | NS      | $273820.92    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International, Inc.                            | WESCO International, Inc.                                                | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |        4270 | NS      | $883719.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings, Inc.                               | Booking Holdings, Inc.                                                   | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |         655 | NS      | $3605159.30   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Southern Power Co. Ltd.                        | Korea Southern Power Co. Ltd.                                            | CUSIP: 50065AAC8<br>LEI: 9884001B6VSIQS4ZY558 | Long             | DBT              | CORP              | KR        |     2155000 | PA      | $2113494.70   | 0.07%             | 2026-01-27      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: —       |
| Tradeweb Markets, Inc.                               | Tradeweb Markets, Inc., Class A                                          | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6910 | NS      | $957380.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                                             | Alcon AG                                                                 | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |        4442 | NS      | $389421.16    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA                                   | Cellnex Telecom SA                                                       | CUSIP: N/A<br>LEI: 5493008T4YG3AQUI7P67       | Long             | EC               | CORP              | ES        |        4396 | NS      | $155132.90    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SG Holdings Co. Ltd.                                 | SG Holdings Co. Ltd.                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        2800 | NS      | $31064.36     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Yangzijiang Shipbuilding Holdings Ltd.               | Yangzijiang Shipbuilding Holdings Ltd.                                   | CUSIP: N/A<br>LEI: 254900Z3JEM14YIGLM66       | Long             | EC               | CORP              | SG        |       22700 | NS      | $44524.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nissan Motor Co. Ltd.                                | Nissan Motor Co. Ltd.                                                    | CUSIP: N/A<br>LEI: 353800DRBDH1LUTNAY26       | Long             | EC               | CORP              | JP        |       19600 | NS      | $41557.90     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sysmex Corp.                                         | Sysmex Corp.                                                             | CUSIP: N/A<br>LEI: 5299001ZO4CKWACMZI55       | Long             | EC               | CORP              | JP        |        4500 | NS      | $73106.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken NV                                          | Heineken NV                                                              | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |       77411 | NS      | $6076124.05   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Tele2 AB                                             | Tele2 AB, Class B                                                        | CUSIP: N/A<br>LEI: 213800EKD193RVI9HL76       | Long             | EC               | CORP              | SE        |        4867 | NS      | $75220.09     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hungary                                              | Hungary Government Bond                                                  | CUSIP: N/A<br>LEI: 5299003F3UFKGCCMAP43       | Long             | DBT              | NUSS              | HU        |      300000 | PA      | $273802.41    | 0.01%             | 2035-06-05      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Enel SpA                                             | Enel SpA                                                                 | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | DBT              | CORP              | IT        |      300000 | PA      | $369735.64    | 0.01%             | 2028-04-16      | Variable      | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Hershey Co. (The)                                    | Hershey Co. (The)                                                        | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |        4024 | NS      | $748987.12    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SGH Ltd.                                             | SGH Ltd.                                                                 | CUSIP: N/A<br>LEI: 254900DME8O9GCK94794       | Long             | EC               | CORP              | AU        |        1809 | NS      | $59167.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CoreWeave, Inc.                                      | CoreWeave, Inc.                                                          | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     2606000 | PA      | $2619162.70   | 0.09%             | 2030-06-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Euro-Schatz                                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         443 | NC      | $-183361.35   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CommScope LLC                                        | CommScope LLC                                                            | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |     1109000 | PA      | $1076894.45   | 0.04%             | 2029-09-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Fujitsu Ltd.                                         | Fujitsu Ltd.                                                             | CUSIP: N/A<br>LEI: 3538000246DHJLRTUZ24       | Long             | EC               | CORP              | JP        |       15600 | NS      | $339829.10    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| KeyCorp                                              | KeyCorp                                                                  | CUSIP: 49326EEP4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |     1450000 | PA      | $1549747.50   | 0.05%             | 2035-03-06      | Variable      | 6.40%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises LP                                 | Icahn Enterprises LP                                                     | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1072000 | PA      | $919244.82    | 0.03%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Copart, Inc.                                         | Copart, Inc.                                                             | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |       25208 | NS      | $1142678.64   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BPCE SFH SA                                          | BPCE SFH SA                                                              | CUSIP: N/A<br>LEI: 969500T1UBNNTYVWOS04       | Long             | DBT              | CORP              | FR        |     1900000 | PA      | $2232806.39   | 0.08%             | 2029-03-13      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Heidelberg Materials AG                              | Heidelberg Materials AG                                                  | CUSIP: N/A<br>LEI: LZ2C6E0W5W7LQMX5ZI37       | Long             | EC               | CORP              | DE        |        1190 | NS      | $274526.76    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| EOG Resources, Inc.                                  | EOG Resources, Inc.                                                      | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |       32287 | NS      | $3875085.74   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                           | FHLMC UMBS, 30 Year                                                      | CUSIP: 3132DVMV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     2536441 | PA      | $2636569.54   | 0.09%             | 2054-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Medibank Pvt Ltd.                                    | Medibank Pvt Ltd.                                                        | CUSIP: N/A<br>LEI: BDYVSUPTML83OLINBJ17       | Long             | EC               | CORP              | AU        |       24482 | NS      | $80017.10     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                | Gilead Sciences, Inc.                                                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |       12007 | NS      | $1348266.03   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| National Australia Bank Ltd.                         | National Australia Bank Ltd.                                             | CUSIP: N/A<br>LEI: F8SB4JFBSYQFRQEH3Z21       | Long             | EC               | CORP              | AU        |       27225 | NS      | $675633.36    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| S-Oil Corp.                                          | S-Oil Corp.                                                              | CUSIP: N/A<br>LEI: 988400QTUXYDN8W3MZ32       | Long             | EC               | CORP              | KR        |        7002 | NS      | $315839.58    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                             | UnitedHealth Group, Inc.                                                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       17322 | NS      | $4322878.32   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co.                                   | General Motors Co.                                                       | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |       10701 | NS      | $570791.34    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKWOOL A/S                                         | ROCKWOOL A/S, Class B                                                    | CUSIP: N/A<br>LEI: 213800QRC7LNX935OZ09       | Long             | EC               | CORP              | DK        |         839 | NS      | $36765.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Givaudan SA                                          | Givaudan SA (Registered)                                                 | CUSIP: N/A<br>LEI: 213800SVRMQA1TD91D41       | Long             | EC               | CORP              | CH        |          82 | NS      | $342788.72    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific, Inc.                       | Thermo Fisher Scientific, Inc.                                           | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |        3838 | NS      | $1794955.84   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Covivio SA                                           | Covivio SA                                                               | CUSIP: N/A<br>LEI: 969500P8M3W2XX376054       | Long             | EC               | CORP              | FR        |         496 | NS      | $32111.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Resources Corp.                               | Antero Resources Corp.                                                   | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |     1900000 | PA      | $1891296.78   | 0.07%             | 2030-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Axis Bank Ltd.                                       | Axis Bank Ltd.                                                           | CUSIP: N/A<br>LEI: 549300HVNWMJPOFVNI41       | Long             | EC               | CORP              | IN        |       65393 | NS      | $794137.64    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Montreal                                     | Bank of Montreal                                                         | CUSIP: N/A<br>LEI: NQQ6HPCNCCU6TUTQYE16       | Long             | DBT              | CORP              | CA        |     5059000 | PA      | $5233963.55   | 0.19%             | 2029-06-08      | Fixed         | 0.05%                 | Yes           |                  2 | On Loan: No      |
| Elastic NV                                           | Elastic NV                                                               | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |     1566000 | PA      | $1489381.26   | 0.05%             | 2029-07-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Hungary                                              | Hungary Government Bond                                                  | CUSIP: N/A<br>LEI: 5299003F3UFKGCCMAP43       | Long             | DBT              | NUSS              | HU        |      893000 | PA      | $932152.90    | 0.03%             | 2028-09-21      | Fixed         | 0.12%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                         | CaixaBank SA                                                             | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |       35080 | NS      | $330043.56    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Freedom Mortgage Corp.                               | Freedom Mortgage Corp.                                                   | CUSIP: 35640YAK3<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |      508000 | PA      | $543314.64    | 0.02%             | 2028-10-01      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Vicinity Ltd.                                        | Vicinity Ltd.                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |       34478 | NS      | $54285.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                  | Deutsche Telekom AG (Registered)                                         | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |       76389 | NS      | $2739761.95   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| AmeriTex HoldCo Intermediate LLC                     | AmeriTex HoldCo Intermediate LLC                                         | CUSIP: 030727AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1416000 | PA      | $1502693.18   | 0.05%             | 2028-10-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: —       |
| FedEx Corp.                                          | FedEx Corp.                                                              | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |        2743 | NS      | $613033.07    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica Brasil SA                                 | Telefonica Brasil SA                                                     | CUSIP: N/A<br>LEI: 529900MTGG2HSDBIWG79       | Long             | EC               | CORP              | BR        |      125920 | NS      | $708581.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Danske Bank A/S                                      | Danske Bank A/S                                                          | CUSIP: N/A<br>LEI: MAES062Z21O4RZ2U7M96       | Long             | DBT              | CORP              | DK        |     2000000 | PA      | $2377505.30   | 0.08%             | 2028-11-09      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Credicorp Ltd.                                       | Credicorp Ltd.                                                           | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | BM        |        4043 | NS      | $958191.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys, Inc.                                       | Synopsys, Inc.                                                           | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |        2732 | NS      | $1730640.04   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group, Inc.                        | Penske Automotive Group, Inc.                                            | CUSIP: 70959WAK9<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |     1536000 | PA      | $1453947.49   | 0.05%             | 2029-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Novartis AG                                          | Novartis AG (Registered)                                                 | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |       37679 | NS      | $4291151.28   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Sompo Holdings, Inc.                                 | Sompo Holdings, Inc.                                                     | CUSIP: N/A<br>LEI: 353800CWW4SRGEYEB512       | Long             | EC               | CORP              | JP        |        7900 | NS      | $232947.73    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                  | Societe Generale SA                                                      | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | DBT              | CORP              | FR        |     1000000 | PA      | $1189808.72   | 0.04%             | 2030-12-06      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Dover Corp.                                          | Dover Corp.                                                              | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |        3922 | NS      | $710431.08    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                                            | Prosus NV                                                                | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               | CORP              | NL        |       11631 | NS      | $664430.25    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Axis Bank Ltd.                                       | Axis Bank Ltd.                                                           | CUSIP: 05462W109<br>LEI: 549300HVNWMJPOFVNI41 | Long             | EC               | CORP              | IN        |        3046 | NS      | $184759.98    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Anglo American plc                                   | Anglo American plc                                                       | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |        9948 | NS      | $279917.92    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Amrize Ltd.                                          | Amrize Ltd.                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CH        |        4633 | NS      | $234202.50    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                                   | AerCap Holdings NV                                                       | CUSIP: N/A<br>LEI: 549300SZYINBBLJQU475       | Long             | EC               | CORP              | NL        |       20444 | NS      | $2192619.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedish Orphan Biovitrum AB                          | Swedish Orphan Biovitrum AB                                              | CUSIP: N/A<br>LEI: 549300124Y3MQI87PT35       | Long             | EC               | CORP              | SE        |        1741 | NS      | $47871.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth of Australia                            | Commonwealth of Australia                                                | CUSIP: N/A<br>LEI: 213800J6B7JSBDETCB42       | Long             | DBT              | NUSS              | AU        |      890000 | PA      | $303566.97    | 0.01%             | 2051-06-21      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Alternative Loan Trust                               | Alternative Loan Trust, Series 2006-14CB, Class A1                       | CUSIP: 021468AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |           0 | PA      | $0.00         | 0.00%             | 2036-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DiaSorin SpA                                         | DiaSorin SpA                                                             | CUSIP: N/A<br>LEI: 8156002878BDF0EE4348       | Long             | EC               | CORP              | IT        |         199 | NS      | $19455.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                              | JPMorgan Mortgage Trust, Series 2005-A8, Class 2A3                       | CUSIP: 466247YP2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |           2 | PA      | $1.51         | 0.00%             | 2035-11-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| BlueScope Steel Ltd.                                 | BlueScope Steel Ltd.                                                     | CUSIP: N/A<br>LEI: 529900H6UQI16XACWC95       | Long             | EC               | CORP              | AU        |        3899 | NS      | $59110.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Japan 10 Year Mini Bond                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | SG        |         143 | NC      | $-47934.14    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Barratt Redrow plc                                   | Barratt Redrow plc                                                       | CUSIP: N/A<br>LEI: 2138006R85VEOF5YNK29       | Long             | EC               | CORP              | GB        |       12208 | NS      | $60117.74     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FGI Operating Co. LLC                                | FGI Operating Co. LLC, 1st Lien Term Loan                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       13606 | PA      | $136.06       | 0.00%             | 2025-12-31      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Severstal PAO                                        | Severstal PAO                                                            | CUSIP: 818150302<br>LEI: 213800OKDPTV6K4ONO53 | Long             | EC               | CORP              | RU        |       57588 | NS      | $0.06         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Keyence Corp.                                        | Keyence Corp.                                                            | CUSIP: N/A<br>LEI: 529900M7PQBS7A89DZ11       | Long             | EC               | CORP              | JP        |       17400 | NS      | $6294127.35   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Heidelberg Materials Finance Luxembourg SA           | Heidelberg Materials Finance Luxembourg SA                               | CUSIP: N/A<br>LEI: 529900RYHTCF5X9DD509       | Long             | DBT              | CORP              | LU        |     1995000 | PA      | $2491489.70   | 0.09%             | 2033-11-21      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| McDonald's Corp.                                     | McDonald's Corp.                                                         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       28023 | NS      | $8408861.61   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bureau Veritas SA                                    | Bureau Veritas SA                                                        | CUSIP: N/A<br>LEI: 969500TPU5T3HA5D1F11       | Long             | EC               | CORP              | FR        |        2824 | NS      | $86968.25     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ingevity Corp.                                       | Ingevity Corp.                                                           | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |     1563000 | PA      | $1487346.22   | 0.05%             | 2028-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                             | WESCO Distribution, Inc.                                                 | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     1789000 | PA      | $1812822.32   | 0.06%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Essity AB                                            | Essity AB, Class B                                                       | CUSIP: N/A<br>LEI: 549300G8E6YUVJ1DA153       | Long             | EC               | CORP              | SE        |        5365 | NS      | $132287.66    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| H World Group Ltd.                                   | H World Group Ltd.                                                       | CUSIP: N/A<br>LEI: 549300Y5ML31FVN83730       | Long             | EC               | CORP              | KY        |      150500 | NS      | $469740.81    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Kontoor Brands, Inc.                                 | Kontoor Brands, Inc.                                                     | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |       23339 | NS      | $1299048.74   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                                  | Kinder Morgan, Inc.                                                      | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |       17255 | NS      | $484175.30    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp.                                            | SLM Corp.                                                                | CUSIP: 78442PGE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1787000 | PA      | $1745894.35   | 0.06%             | 2026-11-02      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Singapore Technologies Engineering Ltd.              | Singapore Technologies Engineering Ltd.                                  | CUSIP: N/A<br>LEI: 254900OEXGGWCR24DG90       | Long             | EC               | CORP              | SG        |       13900 | NS      | $93509.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tronox, Inc.                                         | Tronox, Inc.                                                             | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |      453000 | PA      | $352438.49    | 0.01%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Hungary                                              | Hungary Government Bond                                                  | CUSIP: N/A<br>LEI: 5299003F3UFKGCCMAP43       | Long             | DBT              | NUSS              | HU        |      300000 | PA      | $370351.35    | 0.01%             | 2033-09-12      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Anheuser-Busch InBev SA                              | Anheuser-Busch InBev SA                                                  | CUSIP: N/A<br>LEI: 5493008H3828EMEXB082       | Long             | EC               | CORP              | BE        |        8787 | NS      | $505188.23    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| InPost SA                                            | InPost SA                                                                | CUSIP: N/A<br>LEI: 2221003M23QLERR89585       | Long             | EC               | CORP              | LU        |        1978 | NS      | $28409.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd.                                   | Bharti Airtel Ltd.                                                       | CUSIP: N/A<br>LEI: 335800KQ1FPKOQ84OR26       | Long             | EC               | CORP              | IN        |       11667 | NS      | $253980.69    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Forvia SE                                            | Forvia SE                                                                | CUSIP: N/A<br>LEI: 969500F0VMZLK2IULV85       | Long             | DBT              | CORP              | FR        |      225000 | PA      | $263485.76    | 0.01%             | 2030-06-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                    | Yum! Brands, Inc.                                                        | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |       35812 | NS      | $5162299.80   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Midstream Operations LP                         | Hess Midstream Operations LP                                             | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      477000 | PA      | $491358.18    | 0.02%             | 2029-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Tryg A/S                                             | Tryg A/S                                                                 | CUSIP: N/A<br>LEI: 213800ZRS8AC4LSTCE39       | Long             | EC               | CORP              | DK        |        3013 | NS      | $72679.36     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| Federal Republic of Germany                          | Bundesrepublik Deutschland                                               | CUSIP: N/A<br>LEI: 529900AQBND3S6YJLY83       | Long             | DBT              | NUSS              | DE        |     1920000 | PA      | $2074296.36   | 0.07%             | 2056-08-15      | Fixed         | 2.90%                 | Yes           |                  2 | On Loan: No      |
| Republic of Indonesia                                | Republic of Indonesia                                                    | CUSIP: N/A<br>LEI: 529900FWX0GRR7WG5W79       | Long             | DBT              | NUSS              | ID        | 62329000000 | PA      | $3791365.68   | 0.13%             | 2034-02-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Zijin Mining Group Co. Ltd.                          | Zijin Mining Group Co. Ltd., Class H                                     | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561       | Long             | EC               | CORP              | CN        |      302000 | NS      | $800801.21    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Stora Enso OYJ                                       | Stora Enso OYJ, Class R                                                  | CUSIP: N/A<br>LEI: 7437000ZP669LKUTZ738       | Long             | EC               | CORP              | FI        |        5177 | NS      | $53268.68     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| B3 SA - Brasil Bolsa Balcao                          | B3 SA - Brasil Bolsa Balcao                                              | CUSIP: N/A<br>LEI: 4GTK5S46E6H318LMDS44       | Long             | EC               | CORP              | BR        |      355953 | NS      | $798415.89    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Energy AG                                    | Siemens Energy AG                                                        | CUSIP: N/A<br>LEI: 5299005CHJZ14D4FDJ62       | Long             | EC               | CORP              | DE        |        6040 | NS      | $699303.79    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Industrivarden AB                                    | Industrivarden AB, Class A                                               | CUSIP: N/A<br>LEI: 549300TM1DLIQI3B3T37       | Long             | EC               | CORP              | SE        |        1054 | NS      | $38995.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Playtika Holding Corp.                               | Playtika Holding Corp.                                                   | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |     1636000 | PA      | $1495940.55   | 0.05%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| APH Somerset Investor 2 LLC                          | APH Somerset Investor 2 LLC                                              | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1646000 | PA      | $1695807.96   | 0.06%             | 2029-11-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                              | Bath & Body Works, Inc.                                                  | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |        6926 | NS      | $200576.96    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Group Holdings Ltd.                            | Asahi Group Holdings Ltd.                                                | CUSIP: N/A<br>LEI: 353800KAJ02XNHLCJW79       | Long             | EC               | CORP              | JP        |       12800 | NS      | $162381.82    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| KE Holdings, Inc.                                    | KE Holdings, Inc., Class A                                               | CUSIP: N/A<br>LEI: 254900RHVY072XPAZE03       | Long             | EC               | CORP              | KY        |      159358 | NS      | $974637.70    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortum OYJ                                           | Fortum OYJ                                                               | CUSIP: N/A<br>LEI: 635400IUIZZIUJSAMF76       | Long             | EC               | CORP              | FI        |        3988 | NS      | $73162.82     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hindalco Industries Ltd.                             | Hindalco Industries Ltd.                                                 | CUSIP: N/A<br>LEI: 335800KXLE5NO5B4GF90       | Long             | EC               | CORP              | IN        |       54737 | NS      | $423753.17    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| KT Corp.                                             | KT Corp.                                                                 | CUSIP: 48268K101<br>LEI: 9884005ACF8449EANY26 | Long             | EC               | CORP              | KR        |        6335 | NS      | $127903.65    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NCL Corp. Ltd.                                       | NCL Corp. Ltd.                                                           | CUSIP: 62886HBN0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     2061000 | PA      | $2165162.94   | 0.08%             | 2029-01-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                | Dominion Energy, Inc.                                                    | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |      111411 | NS      | $6511972.95   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Disco Corp.                                          | Disco Corp.                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        3900 | NS      | $1152554.16   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                     | CVS Health Corp.                                                         | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |       11835 | NS      | $734953.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings, Inc.                                | Silgan Holdings, Inc.                                                    | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |       10988 | NS      | $511271.64    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hulic Co. Ltd.                                       | Hulic Co. Ltd.                                                           | CUSIP: N/A<br>LEI: 3538002E12E7IHAKTB10       | Long             | EC               | CORP              | JP        |        4100 | NS      | $39104.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CapitaLand Ascendas REIT                             | CapitaLand Ascendas                                                      | CUSIP: N/A<br>LEI: 549300ILIBAEMQZK3L20       | Long             | EC               | CORP              | SG        |       33220 | NS      | $71128.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Evolution Mining Ltd.                                | Evolution Mining Ltd.                                                    | CUSIP: N/A<br>LEI: 254900BCFW5QO5LW8F27       | Long             | EC               | CORP              | AU        |       17800 | NS      | $80557.86     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hana Financial Group, Inc.                           | Hana Financial Group, Inc.                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       18346 | NS      | $1121657.98   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| SM Energy Co.                                        | SM Energy Co.                                                            | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     1137000 | PA      | $1137898.23   | 0.04%             | 2029-08-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FinecoBank Banca Fineco SpA                          | FinecoBank Banca Fineco SpA                                              | CUSIP: N/A<br>LEI: 549300L7YCATGO57ZE10       | Long             | EC               | CORP              | IT        |        5437 | NS      | $115775.66    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Konami Group Corp.                                   | Konami Group Corp.                                                       | CUSIP: N/A<br>LEI: 353800FC4A5QCMIZFV94       | Long             | EC               | CORP              | JP        |         900 | NS      | $122182.94    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kreditanstalt fuer Wiederaufbau                      | Kreditanstalt fuer Wiederaufbau                                          | CUSIP: N/A<br>LEI: 549300GDPG70E3MBBU98       | Long             | DBT              | NUSS              | DE        |     2690000 | PA      | $3152486.19   | 0.11%             | 2028-10-10      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| NCR Atleos Corp.                                     | NCR Atleos Corp.                                                         | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |     2028000 | PA      | $2197043.94   | 0.08%             | 2029-04-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Capgemini SE                                         | Capgemini SE                                                             | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |        1447 | NS      | $215424.27    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Entergy Corp.                                        | Entergy Corp.                                                            | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |        2930 | NS      | $264959.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp.                                            | FMC Corp.                                                                | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |       70963 | NS      | $2770395.52   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Moran Foods Backstop Equity                          | Moran Foods Backstop Equity                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     2994930 | NS      | $2.99         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                   | Grupo Financiero Banorte SAB de CV, Class O                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |       56385 | NS      | $502159.76    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Suzuki Motor Corp.                                   | Suzuki Motor Corp.                                                       | CUSIP: N/A<br>LEI: 353800D83H0V3ZV1SV24       | Long             | EC               | CORP              | JP        |       14000 | NS      | $153826.03    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| New Enterprise Stone & Lime Co., Inc.                | New Enterprise Stone & Lime Co., Inc.                                    | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     1519000 | PA      | $1508115.15   | 0.05%             | 2028-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                              | Kingdom of Saudi Arabia                                                  | CUSIP: 80413TAV1<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |      914000 | PA      | $769761.66    | 0.03%             | 2033-02-02      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| SGUS LLC                                             | SGUS LLC                                                                 | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      895705 | PA      | $837027.06    | 0.03%             | 2029-12-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| MINEBEA MITSUMI, Inc.                                | MINEBEA MITSUMI, Inc.                                                    | CUSIP: N/A<br>LEI: 353800CCB0CZ75YZ4010       | Long             | EC               | CORP              | JP        |        3200 | NS      | $50362.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SCREEN Holdings Co. Ltd.                             | SCREEN Holdings Co. Ltd.                                                 | CUSIP: N/A<br>LEI: 353800ND89FTQ9XQ0R07       | Long             | EC               | CORP              | JP        |         700 | NS      | $54606.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TriNet Group, Inc.                                   | TriNet Group, Inc.                                                       | CUSIP: 896288AA5<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |     1544000 | PA      | $1436084.28   | 0.05%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                    | HSBC Holdings plc                                                        | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |      157136 | NS      | $1914383.65   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Schindler Holding AG                                 | Schindler Holding AG (Registered)                                        | CUSIP: N/A<br>LEI: 5299007DRLI319H7Q933       | Long             | EC               | CORP              | CH        |         209 | NS      | $73302.47     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Henderson Land Development Co. Ltd.                  | Henderson Land Development Co. Ltd.                                      | CUSIP: N/A<br>LEI: 529900SYQB7IVR9QGN76       | Long             | EC               | CORP              | HK        |       13000 | NS      | $45490.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bunge Finance Europe BV                              | Bunge Finance Europe BV                                                  | CUSIP: N/A<br>LEI: 549300BIPDLRC1B3OO64       | Long             | DBT              | CORP              | NL        |     2350000 | PA      | $2538921.34   | 0.09%             | 2028-09-24      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| L E Lundbergforetagen AB                             | L E Lundbergforetagen AB, Class B                                        | CUSIP: N/A<br>LEI: 529900BPSFZS6O3A9R04       | Long             | EC               | CORP              | SE        |         668 | NS      | $32583.13     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Spirax Group plc                                     | Spirax Group plc                                                         | CUSIP: N/A<br>LEI: 213800WFVZQMHOZP2W17       | Long             | EC               | CORP              | GB        |         654 | NS      | $54653.90     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Shin-Etsu Chemical Co. Ltd.                          | Shin-Etsu Chemical Co. Ltd.                                              | CUSIP: N/A<br>LEI: 353800PX8Q64N86H5W41       | Long             | EC               | CORP              | JP        |      141100 | NS      | $4060423.16   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Porsche Automobil Holding SE                         | Porsche Automobil Holding SE (Preference)                                | CUSIP: N/A<br>LEI: 52990053Z17ZYM1KFV27       | Long             | EC               | CORP              | DE        |        1361 | NS      | $54622.51     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Inter-American Development Bank                      | Inter-American Development Bank                                          | CUSIP: 458182CZ3<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | CA        |      614000 | PA      | $446452.80    | 0.02%             | 2026-01-26      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Heartland Dental LLC                                 | Heartland Dental LLC                                                     | CUSIP: 42239PAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1559000 | PA      | $1643390.23   | 0.06%             | 2028-04-30      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| New Fortress Energy, Inc.                            | New Fortress Energy, Inc.                                                | CUSIP: 644393AB6<br>LEI: 254900EICTYTCHA5X705 | Long             | DBT              | CORP              | US        |     2911000 | PA      | $1018544.35   | 0.04%             | 2026-09-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: —       |
| Nordea Bank Abp                                      | Nordea Bank Abp                                                          | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |       27929 | NS      | $407534.10    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Motors Ltd.                                     | Tata Motors Ltd.                                                         | CUSIP: N/A<br>LEI: 335800BO2LHWJJ8TZI32       | Long             | EC               | CORP              | IN        |       73587 | NS      | $556219.85    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortune Brands Innovations, Inc.                     | Fortune Brands Innovations, Inc.                                         | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |        7676 | NS      | $418649.04    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                               | UCB SA                                                                   | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |        1124 | NS      | $241497.14    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MakeMyTrip Ltd.                                      | MakeMyTrip Ltd.                                                          | CUSIP: N/A<br>LEI: 529900DNT8HNJ7RYUO60       | Long             | EC               | CORP              | MU        |        2751 | NS      | $257466.09    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                                           | L'Oreal SA                                                               | CUSIP: N/A<br>LEI: 529900JI1GG6F7RKVI53       | Long             | EC               | CORP              | FR        |        2137 | NS      | $945587.35    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Wise plc                                             | Wise plc, Class A                                                        | CUSIP: N/A<br>LEI: 213800LD9XCHIC1C4V71       | Long             | EC               | CORP              | GB        |        5923 | NS      | $79125.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bollore SE                                           | Bollore SE                                                               | CUSIP: N/A<br>LEI: 969500LEKCHH6VV86P94       | Long             | EC               | CORP              | FR        |        6269 | NS      | $36160.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Auto Trader Group plc                                | Auto Trader Group plc                                                    | CUSIP: N/A<br>LEI: 213800QLK9BZILB1DI86       | Long             | EC               | CORP              | GB        |        7810 | NS      | $86220.80     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                        | Calpine Corp.                                                            | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |      772000 | PA      | $758711.56    | 0.03%             | 2029-02-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Continental AG                                       | Continental AG                                                           | CUSIP: N/A<br>LEI: 529900A7YD9C0LLXM621       | Long             | EC               | CORP              | DE        |         978 | NS      | $83531.64     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CVC Capital Partners plc                             | CVC Capital Partners plc                                                 | CUSIP: N/A<br>LEI: 213800E8UQS1KA32YD39       | Long             | EC               | CORP              | JE        |        1869 | NS      | $35839.63     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Chart Industries, Inc.                               | Chart Industries, Inc.                                                   | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     2052000 | PA      | $2149533.61   | 0.08%             | 2030-01-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                         | UBS Group AG                                                             | CUSIP: 225401AT5<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      250000 | PA      | $245834.08    | 0.01%             | 2027-02-02      | Variable      | 1.30%                 | Yes           |                  2 | On Loan: No      |
| Kingfisher plc                                       | Kingfisher plc                                                           | CUSIP: N/A<br>LEI: 213800KBMEV7I92FY281       | Long             | EC               | CORP              | GB        |       15821 | NS      | $56256.39     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corp.                                 | American Tower Corp.                                                     | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |       32006 | NS      | $6669730.34   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Isuzu Motors Ltd.                                    | Isuzu Motors Ltd.                                                        | CUSIP: N/A<br>LEI: 529900C0QSXVCC7AR494       | Long             | EC               | CORP              | JP        |        4800 | NS      | $61516.86     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| M&T Bank Corp.                                       | M&T Bank Corp.                                                           | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |        6742 | NS      | $1272215.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                             | U.S. Treasury Bonds                                                      | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      935000 | PA      | $919075.78    | 0.03%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Cencora, Inc.                                        | Cencora, Inc.                                                            | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |        3062 | NS      | $875976.96    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                         | UBS Group AG                                                             | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | DBT              | CORP              | CH        |     1850000 | PA      | $2370815.61   | 0.08%             | 2029-03-01      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                       | Citizens Financial Group, Inc.                                           | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |       24502 | NS      | $1169235.44   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Medline Borrower LP                                  | Medline Borrower LP                                                      | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |     1860000 | PA      | $1823659.13   | 0.06%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Flowserve Corp.                                      | Flowserve Corp.                                                          | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |       25545 | NS      | $1431541.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Woolworths Group Ltd.                                | Woolworths Group Ltd.                                                    | CUSIP: N/A<br>LEI: QNWEWQBS7HP85QHXQL92       | Long             | DBT              | CORP              | AU        |     2450000 | PA      | $2593418.77   | 0.09%             | 2028-11-15      | Fixed         | 0.38%                 | Yes           |                  2 | On Loan: No      |
| Bouygues SA                                          | Bouygues SA                                                              | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |        1684 | NS      | $69341.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Howard Hughes Corp. (The)                            | Howard Hughes Corp. (The)                                                | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |      485000 | PA      | $462329.74    | 0.02%             | 2029-02-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: —       |
| AIB Group plc                                        | AIB Group plc                                                            | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | DBT              | CORP              | IE        |     2000000 | PA      | $2402764.88   | 0.09%             | 2029-07-23      | Variable      | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Land Securities Group plc                            | Land Securities Group plc                                                | CUSIP: N/A<br>LEI: 213800V8IAVKS37D6B88       | Long             | EC               | CORP              | GB        |        6291 | NS      | $47842.70     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Packaging Corp. of America                           | Packaging Corp. of America                                               | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |        1825 | NS      | $353593.75    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Boliden AB                                           | Boliden AB                                                               | CUSIP: N/A<br>LEI: 21380059QU7IM1ONDJ56       | Long             | EC               | CORP              | SE        |        2527 | NS      | $77349.53     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                              | American Airlines, Inc.                                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      254000 | PA      | $253910.97    | 0.01%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| EquipmentShare.com, Inc.                             | EquipmentShare.com, Inc.                                                 | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |     1832000 | PA      | $1930792.43   | 0.07%             | 2028-05-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                 | Frontier Communications Holdings LLC                                     | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2107000 | PA      | $2104348.76   | 0.07%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                                 | IHO Verwaltungs GmbH                                                     | CUSIP: N/A<br>LEI: 529900JL0HDVGZMUJF32       | Long             | DBT              | CORP              | DE        |      220000 | PA      | $266694.69    | 0.01%             | 2029-11-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                    | NatWest Group plc                                                        | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |      280645 | NS      | $1948120.58   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Repsol SA                                            | Repsol SA                                                                | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |       10289 | NS      | $155999.45    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Instruments, Inc.                              | Texas Instruments, Inc.                                                  | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |        4271 | NS      | $773307.26    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Newell Brands, Inc.                                  | Newell Brands, Inc.                                                      | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     1829000 | PA      | $1843312.20   | 0.07%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Swiss Re AG                                          | Swiss Re AG                                                              | CUSIP: N/A<br>LEI: 529900PS9YW3YY29F326       | Long             | EC               | CORP              | CH        |        2681 | NS      | $479902.74    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Claire's Stores, Inc.                                | Claire's Stores, Inc.                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         359 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Ferrari NV                                           | Ferrari NV                                                               | CUSIP: N/A<br>LEI: 549300RIVY5EX8RCON76       | Long             | EC               | CORP              | NL        |        1121 | NS      | $491567.14    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Dcli Bidco LLC                                       | Dcli Bidco LLC                                                           | CUSIP: 233104AA6<br>LEI: 2549007UUVJTHHNK9T70 | Long             | DBT              | CORP              | US        |      591000 | PA      | $603253.20    | 0.02%             | 2029-11-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Flowco Holdings, Inc.                                | Flowco Holdings, Inc., Class A                                           | CUSIP: 342909108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6721 | NS      | $125682.70    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                | Bank of America Corp.                                                    | CUSIP: N/A<br>LEI: 9DJT3UXIJIZJI4WXO774       | Long             | DBT              | CORP              | US        |     2550000 | PA      | $2587594.92   | 0.09%             | 2032-05-24      | Variable      | 1.10%                 | Yes           |                  2 | On Loan: No      |
| Bridgestone Corp.                                    | Bridgestone Corp.                                                        | CUSIP: N/A<br>LEI: 549300DHPOF90OYYD780       | Long             | EC               | CORP              | JP        |        5100 | NS      | $206296.01    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SSE plc                                              | SSE plc                                                                  | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |        9835 | NS      | $241077.92    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                           | Corebridge Financial, Inc.                                               | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |        2000 | PA      | $2054.14      | 0.00%             | 2052-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                | NextEra Energy Capital Holdings, Inc.                                    | CUSIP: 65339KBS8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |      250000 | PA      | $250155.32    | 0.01%             | 2025-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Salesforce, Inc.                                     | Salesforce, Inc.                                                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |       31839 | NS      | $8224968.87   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Verbund AG                                           | Verbund AG                                                               | CUSIP: N/A<br>LEI: 5299006UDSEJCTTEJS30       | Long             | EC               | CORP              | AT        |         599 | NS      | $44601.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| InterContinental Hotels Group plc                    | InterContinental Hotels Group plc                                        | CUSIP: N/A<br>LEI: 2138007ZFQYRUSLU3J98       | Long             | EC               | CORP              | GB        |        1318 | NS      | $151622.98    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings plc                             | Rolls-Royce Holdings plc                                                 | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |       75365 | NS      | $1069654.00   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ROBLOX Corp.                                         | ROBLOX Corp.                                                             | CUSIP: 771049AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1936000 | PA      | $1822278.02   | 0.06%             | 2030-05-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ON Semiconductor Corp.                               | ON Semiconductor Corp.                                                   | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |     1232000 | PA      | $1190543.94   | 0.04%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FTAI Infra Escrow Holdings LLC                       | FTAI Infra Escrow Holdings LLC                                           | CUSIP: 30327TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      247000 | PA      | $253824.86    | 0.01%             | 2027-06-01      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Volkswagen Leasing GmbH                              | Volkswagen Leasing GmbH                                                  | CUSIP: N/A<br>LEI: 5299004GLEUX88BSNB74       | Long             | DBT              | CORP              | DE        |      150000 | PA      | $156272.74    | 0.01%             | 2029-07-19      | Fixed         | 0.62%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corp.                                      | Air Lease Corp.                                                          | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |       12493 | NS      | $692112.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services, Inc.         | Fidelity National Information Services, Inc.                             | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      127641 | NS      | $10135971.81  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp.                            | Mitsubishi Electric Corp.                                                | CUSIP: N/A<br>LEI: 549300TRXM9Y6561AX39       | Long             | EC               | CORP              | JP        |       16900 | NS      | $380118.94    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Garmin Ltd.                                          | Garmin Ltd.                                                              | CUSIP: N/A<br>LEI: 2549001E0HIPIJQ0W046       | Long             | EC               | CORP              | CH        |        4759 | NS      | $1041078.84   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hannover Rueck SE                                    | Hannover Rueck SE                                                        | CUSIP: N/A<br>LEI: 529900KIN5BE45V5KB18       | Long             | EC               | CORP              | DE        |         536 | NS      | $162592.18    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| H & M Hennes & Mauritz AB                            | H & M Hennes & Mauritz AB, Class B                                       | CUSIP: N/A<br>LEI: 529900O5RR7R39FRDM42       | Long             | EC               | CORP              | SE        |        5036 | NS      | $67843.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: —       |
| BIM Birlesik Magazalar A/S                           | BIM Birlesik Magazalar A/S                                               | CUSIP: N/A<br>LEI: 7890001GCDJQD8DJKE29       | Long             | EC               | CORP              | TR        |       69172 | NS      | $903953.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Xero Ltd.                                            | Xero Ltd.                                                                | CUSIP: N/A<br>LEI: 254900UG5D8YST164N14       | Long             | EC               | CORP              | NZ        |        1454 | NS      | $167443.56    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Align Technology, Inc.                               | Align Technology, Inc.                                                   | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |        7548 | NS      | $973767.48    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange Ltd.                              | Singapore Exchange Ltd.                                                  | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | EC               | CORP              | SG        |        7600 | NS      | $93188.19     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                         | DNB Bank ASA                                                             | CUSIP: N/A<br>LEI: 549300GKFG0RYRRQ1414       | Long             | EC               | CORP              | NO        |        7961 | NS      | $201411.29    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Twilio, Inc.                                         | Twilio, Inc.                                                             | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     1305000 | PA      | $1235948.54   | 0.04%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Banco Santander Totta SA                             | Banco Santander Totta SA                                                 | CUSIP: N/A<br>LEI: 549300URJH9VSI58CS32       | Long             | DBT              | CORP              | PT        |     3600000 | PA      | $4207577.99   | 0.15%             | 2031-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | Long Gilt                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |          74 | NC      | $136608.89    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co.                                | Lamar Advertising Co., Class A                                           | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |        3435 | NS      | $419928.75    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilcorp Energy I LP                                  | Hilcorp Energy I LP                                                      | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1927000 | PA      | $1892864.16   | 0.07%             | 2029-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| New South Wales Treasury Corp.                       | New South Wales Treasury Corp.                                           | CUSIP: N/A<br>LEI: TC7LRO17HPNPLTAV0H77       | Long             | DBT              | NUSS              | AU        |     5585000 | PA      | $3574556.31   | 0.13%             | 2035-02-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| MTU Aero Engines AG                                  | MTU Aero Engines AG                                                      | CUSIP: N/A<br>LEI: 529900807L67JY81RD65       | Long             | EC               | CORP              | DE        |         478 | NS      | $206189.48    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Makita Corp.                                         | Makita Corp.                                                             | CUSIP: N/A<br>LEI: 529900CDR9E94BCM6294       | Long             | EC               | CORP              | JP        |        2100 | NS      | $65012.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NTPC Ltd.                                            | NTPC Ltd.                                                                | CUSIP: N/A<br>LEI: 335800Q4TRGJXNLVMB81       | Long             | EC               | CORP              | IN        |      207674 | NS      | $788189.49    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Murata Manufacturing Co. Ltd.                        | Murata Manufacturing Co. Ltd.                                            | CUSIP: N/A<br>LEI: 529900QZG6DL8ZRI7140       | Long             | EC               | CORP              | JP        |       14800 | NS      | $220284.46    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Phinia, Inc.                                         | Phinia, Inc.                                                             | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |     1449000 | PA      | $1491149.96   | 0.05%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Sumitomo Metal Mining Co. Ltd.                       | Sumitomo Metal Mining Co. Ltd.                                           | CUSIP: N/A<br>LEI: 353800CF81IXL9974H84       | Long             | EC               | CORP              | JP        |        2200 | NS      | $48389.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Klepierre SA                                         | Klepierre SA                                                             | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |        1913 | NS      | $73022.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Yuanta Financial Holding Co. Ltd.                    | Yuanta Financial Holding Co. Ltd.                                        | CUSIP: N/A<br>LEI: 21380045JG57LJEFFE13       | Long             | EC               | CORP              | TW        |      455780 | NS      | $472772.63    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Pernod Ricard SA                                     | Pernod Ricard SA                                                         | CUSIP: N/A<br>LEI: 52990097YFPX9J0H5D87       | Long             | EC               | CORP              | FR        |       40777 | NS      | $4190604.85   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ireland Group plc                            | Bank of Ireland Group plc                                                | CUSIP: N/A<br>LEI: 635400C8EK6DRI12LJ39       | Long             | DBT              | CORP              | IE        |     1900000 | PA      | $2357972.63   | 0.08%             | 2031-07-04      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                      | Jefferies Financial Group, Inc.                                          | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |        8921 | NS      | $514384.86    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd.                               | CyberArk Software Ltd.                                                   | CUSIP: N/A<br>LEI: 529900YEXNDM894PWS93       | Long             | EC               | CORP              | IL        |         418 | NS      | $171994.46    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment, Inc.                          | Caesars Entertainment, Inc.                                              | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     1931000 | PA      | $1991888.29   | 0.07%             | 2030-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                              | American Airlines, Inc.                                                  | CUSIP: 023771T32<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |      994000 | PA      | $1014291.04   | 0.04%             | 2028-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Italy                                    | Buoni Poliennali del Tesoro                                              | CUSIP: N/A<br>LEI: 815600DE60799F5A9309       | Long             | DBT              | NUSS              | IT        |    43695000 | PA      | $50384991.24  | 1.78%             | 2030-07-01      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| ASR Nederland NV                                     | ASR Nederland NV                                                         | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |        1315 | NS      | $87347.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $140651.13    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                         | Samsung Electronics Co. Ltd.                                             | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |       97576 | NS      | $4972860.74   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Euro-Bobl                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        -278 | NC      | $182034.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Integrated Commercial Trust               | CapitaLand Integrated Commercial Trust                                   | CUSIP: N/A<br>LEI: 54930031292WUTXF0L29       | Long             | EC               | CORP              | SG        |       52012 | NS      | $87820.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Merck KGaA                                           | Merck KGaA                                                               | CUSIP: N/A<br>LEI: 529900OAREIS0MOPTW25       | Long             | EC               | CORP              | DE        |        1149 | NS      | $143607.14    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| United Overseas Bank Ltd.                            | United Overseas Bank Ltd.                                                | CUSIP: N/A<br>LEI: IO66REGK3RCBAMA8HR66       | Long             | EC               | CORP              | SG        |       11200 | NS      | $311166.66    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Mahindra & Mahindra Ltd.                             | Mahindra & Mahindra Ltd.                                                 | CUSIP: N/A<br>LEI: 3358003B573EV4KB4Z02       | Long             | EC               | CORP              | IN        |       42148 | NS      | $1535392.83   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-206.33      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| APA Group                                            | APA Group                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |       11596 | NS      | $62367.77     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-306755.16   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Smurfit WestRock plc                                 | Smurfit WestRock plc                                                     | CUSIP: N/A<br>LEI: 635400EGSEOPDW2EXS14       | Long             | EC               | CORP              | IE        |       12055 | NS      | $535000.90    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Aviva plc                                            | Aviva plc                                                                | CUSIP: N/A<br>LEI: YF0Y5B0IB8SM0ZFG9G81       | Long             | EC               | CORP              | GB        |       27147 | NS      | $231944.13    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Origin Energy Ltd.                                   | Origin Energy Ltd.                                                       | CUSIP: N/A<br>LEI: ZSN2LWNPYW6ISMRUC664       | Long             | EC               | CORP              | AU        |       15315 | NS      | $114522.69    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Palo Alto Networks, Inc.                             | Palo Alto Networks, Inc.                                                 | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |       10742 | NS      | $1864811.20   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank AG                                     | Deutsche Bank AG (Registered)                                            | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               | CORP              | DE        |       16453 | NS      | $541904.88    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Carnival Corp.                                       | Carnival Corp.                                                           | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     2546000 | PA      | $2568577.93   | 0.09%             | 2029-05-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                         | Acrisure LLC                                                             | CUSIP: 00489LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2158000 | PA      | $2060272.38   | 0.07%             | 2029-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Equinix, Inc.                                        | Equinix, Inc.                                                            | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |        3775 | NS      | $2964016.75   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Henkel AG & Co. KGaA                                 | Henkel AG & Co. KGaA (Preference)                                        | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EC               | CORP              | DE        |        1505 | NS      | $115974.00    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Civitas Resources, Inc.                              | Civitas Resources, Inc.                                                  | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |      792000 | PA      | $814434.10    | 0.03%             | 2028-07-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: —       |
| Santander Drive Auto Receivables Trust               | Santander Drive Auto Receivables Trust, Series 2025-3, Class C           | CUSIP: 80288JAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      313000 | PA      | $312255.81    | 0.01%             | 2031-09-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Synthomer plc                                        | Synthomer plc                                                            | CUSIP: N/A<br>LEI: 213800EHT3TI1KPQQJ56       | Long             | DBT              | CORP              | GB        |      230000 | PA      | $242847.10    | 0.01%             | 2029-05-02      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Harvest Midstream I LP                               | Harvest Midstream I LP                                                   | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     1672000 | PA      | $1692349.91   | 0.06%             | 2028-09-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Linde plc                                            | Linde plc                                                                | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |        6063 | NS      | $2790556.38   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Midstream Operations LP                         | Hess Midstream Operations LP                                             | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1484000 | PA      | $1435900.76   | 0.05%             | 2030-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Toyota Industries Corp.                              | Toyota Industries Corp.                                                  | CUSIP: N/A<br>LEI: 35380000WKGEAHEMW830       | Long             | EC               | CORP              | JP        |        1400 | NS      | $149705.68    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Melrose Industries plc                               | Melrose Industries plc                                                   | CUSIP: N/A<br>LEI: 213800RGNXXZY2M7TR85       | Long             | EC               | CORP              | GB        |       11304 | NS      | $76320.47     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chocoladefabriken Lindt & Spruengli AG               | Chocoladefabriken Lindt & Spruengli AG (Registered)                      | CUSIP: N/A<br>LEI: 529900JYJNNOKKAGK736       | Long             | EC               | CORP              | CH        |           1 | NS      | $146222.33    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Best Buy Co., Inc.                                   | Best Buy Co., Inc.                                                       | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |        4632 | NS      | $301357.92    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| EMS-Chemie Holding AG                                | EMS-Chemie Holding AG (Registered)                                       | CUSIP: N/A<br>LEI: 529900G1XFTGSE0DIX60       | Long             | EC               | CORP              | CH        |          62 | NS      | $48781.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |           1 | NC      | $-10715.91    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Hillenbrand, Inc.                                    | Hillenbrand, Inc.                                                        | CUSIP: 431571AF5<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |     1437000 | PA      | $1455395.04   | 0.05%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-02

**Name of Applicant:** JPMorgan Trust I

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer